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Dealing with Underperforming Co-founders

How to Address Your Co-founder’s Under Performance

Michael Costuros
By Michael Costuros
Executive coach 10,000+ hours helping VC backed CEOs and their teams win.

A step by step how to guide you can apply today. (Jonathan, note that these are bold here but not when published. This is what we need an automatic fix for. No manual formatting allowed. 🙂 

Co-founder conflicts are one of the top reasons investor-backed startups fail. Y Combinator (YC) has extensively discussed the impact of co-founder conflict on startup failures, emphasizing its significance as a common cause. In Noam Wasserman of Harvard Business School’s book The Founder’s Dilemma, 65% of high-potential startups fail due to issues within the startup team, particularly co-founder disputes.

WTF?

I think this is tragic because honestly, co-founder issues are easy to solve! Way easier than finding product market fit and scaling a business.

That’s a strong assertion, allow me to provide context in hopes that it enables you to give me the benefit of the doubt. I have worked in Bay Area tech culture since 1997. I am the co-founder of a successful SaaS company and held multiple executive roles between 2002 – 2010 as we scaled. I have been a full time executive coach specializing in co-founder relations at Thriving Founders since 2010. I have personally facilitated the resolution of dozens of co-founder conflicts. I have certifications in Nonviolent Communication, Neuro-linguistic Programming, and am fluent in Internal Family Systems parts work. All this and more is woven together with more than 15,000 hours of 1-1 coaching with founders. This is the well from which I draw what I am about to offer you.

In this how-to article, I will share my step by step approach to prevent one of the primary causes of co-founder breakups: when one co-founder feels that the other isn’t capable of doing what the business needs them to do.

I will use a fictionalized variation of a recent case that I helped resolve as an example. Paul, CEO and Mike, COO are long-time friends turned co-founders. The approach taught here is for the co-founder who is leading the resolution with the one he/she feels is underperforming.

If you are familiar with the Conscious Leadership framework, you will notice that my method moves Paul’s perspective from the “to me” stage of conscious leadership to the “by me” stage. Simply put, “to me” is a disempowered state of consciousness. “By me” is an empowered state of consciousness. The “by me” mindset is required in order for the dialogue between the two co-founders to conclude with a win-win solution. If you’re not familiar with Conscious Leadership, not a problem, you don’t need to know more than what I just explained.

Hey, good news! A few minutes from now you will have actionable insights that you can apply to your co-founder dynamic right away.

A unilateral step-by-step approach to resolving co-founder issues stemming from mismatched expectations, talent and roles.

Note: These instructions are unilateral and therefore ignore the aspects of the situation that your co-founder is responsible for. It takes two, right? Well, with this approach it only takes one to resolve the issue because, if you follow the steps, you will be creating a powerful vibe that evokes honesty, vulnerability and integrity from you and your co-founder. That said, it should go without saying that this approach will not work for all situations.

1. Assess the Situation Objectively and Take Full Accountability

Before confronting your co-founder, it’s crucial to engage in three transformative thought exercises that will greatly improve the odds that you achieve the best possible outcome. These thought exercises will shift your perspective from the disempowered “to me” consciousness to the empowered “by me” consciousness as described in the book Conscious Leadership.

Step 0: What’s at stake? Is this worth your time, attention and discomfort? You must decide that resolving your co-founder friction is worth, let’s say, more than the 4 hours this process is going to take. If you don’t commit then you will not have the courage to see this through. That’s right, what you are about to do will take courage!

First Thought Exercise: Strive for Objectivity

Begin by attempting to assess the situation as objectively as possible—a challenging but necessary step. Ask yourself:

  • “What does the company need done that isn’t being done, and why?”

 

Journal:Write down your thoughts. To save time and avoid the rabbit holes, start with writing out the high level bullet point summary for your narrative. Then add one sub point per topic. If that’s not sufficient, add another sub bullet point, up to three per topic.

Recognize that complete objectivity is nearly impossible; our emotions often cloud our judgment. Notice how your answers differ based on the state of mind you are in while journaling. Ideally you will journal your angry version, neutral version, optimistic version. To help you find the most objective interpretation, review each point and ask yourself, “What would an objective impartial observer report if they observed what happened?

Now review and edit your narrative to the essential.

When this step is done you will have a clear outline of the narrative you are working with.

Second Thought Exercise: The Full Accountability Experiment

Next, delve deeper by examining your own role in the situation. Even if your partner has underperformed, consider how your actions, decisions, or lack of clarity may have contributed. Challenge yourself by asking:

  • “What’s the version of this story where I am 100% accountable for my co-founder’s failure to perform to my expectations?”

 

This may stir uncomfortable emotions, but it’s a powerful way to uncover underlying issues and shift you into the empowered “by me” perspective. The full accountability perspective will reveal opportunities that your “to me” perspective blinds you to. As a CEO, this mindset also aligns you with the board’s perspective: you are ultimately responsible for all successes and failures within your company.

Answer these questions.

  • Were the tasks you assigned reasonable given your partner’s skills and experience?
  • Did you provide the necessary support and resources for them to succeed?
  • Did you communicate your expectations as a delegation in document form that they signed off on, or was the delegation verbal without documentation?
  • Did you accept their yes even though you didn’t trust it?
  • If your most critical advisor or board member knew everything and held you accountable, what would their interpretation of events be?

 

Example from Paul and Mike:

Paul, CEO and Mike, COO are long-time friends turned co-founders. Paul is frustrated with Mike’s performance and believes the business plan they are committed to can not succeed without Mike getting the job done.

During the accountability thought exercise Paul noticed many aspects that Mike was responsible for, but rather than stopping there he looked deeper to find his responsibility in the dynamic. By the end of the exercise, Paul faced a tough but valuable realization. He had been repeatedly assigning tasks to Mike that didn’t align with Mike’s strengths. What’s more, Paul’s expectations were never explicitly written out. Paul chose to ignore Mike’s personality type, which includes a tendency to overestimate what he is capable of and conflict aversion. In other words, he accepted his yes without trusting his yes. By repeatedly expecting Mike to excel in areas outside his expertise after demonstrating that he wasn’t capable, Paul was inadvertently setting him up for failure. This acknowledgment was difficult but pivotal. Paul thought, “I’ve been contributing to this problem by repeatedly placing expectations on Mike that time had shown he wasn’t capable of executing.”

Third Exercise: Examine Your Shadow Side

Okay, if you thought the last step was humbling, your ego really isn’t going to like this one! Evoke your courageous heart now. I wouldn’t ask you to do it, but the results are so beneficial that these insights alone can make the difference between success and failure in the conversation you’re preparing to have with your co-founder. There is enough at stake that it’s worth doing whatever you can to improve the odds that the two of you come out better than ever on the other side.

Now, let’s delve into the “shadow side”—the unconscious shame, self doubt, and fear that might be driving your behavior and perspective. By exploring this hidden territory, you can uncover deeper factors contributing to the issue and ultimately acquire more “by me” empowerment.

Ask yourself:

  • Have I run this pattern before with people other than my co-founder, including friends and family?
  • How might I be benefiting by shifting blame from myself to my co-founder?
  • What self judgements am I avoiding by continuing to believe that my co-founder can do the job?
  • What’s the cost of denying the full picture for as long as I have?
  • What’s the cost of continuing to delay acting on it?

 

Example from Paul and Mike:

Paul unearthed a startling insight: he may have been unconsciously “not giving up on Mike” as a distraction from a crack in the foundation of the company. This realization forced Paul to confront his own fears and insecurities about the business plan he committed to and what a pivot would require. He also realized that this is a pattern that has played out in the past. This was profoundly humbling, Paul felt horrible and needed a day and empathy from his most trusted friend to accept and integrate the realizations. The result was worth it. Acknowledging his “shadow side” and taking accountability eliminated his blame and judgements toward Mike and enabled him to conduct the meeting with a humble heart and clear mind.

Reassurance: Identifying and embracing your shadow behaviors isn’t easy, but it’s a very efficient way to raise your consciousness as a leader. It enables you to approach the conversation with honesty, humility and empathy. This reduces the likelihood that your partner gets defensive during the conversation and thus it can stay on track towards the best possible outcome.

My Manifesto

I believe that conscious startup leaders operating at their full potential will have the greatest positive impact on the future of life on Earth. My life’s work is to facilitate the rapid awakening and development of startup founders so that they can give their greatests gifts without succumbing to power, fame and greed.

Fortunately for me, the role of a startup founder not only demands transformative professional, psychological, spiritual and emotional development but can be the most effective vehicle for such, ifyou choose to see it this way. In fact, seeing your company as a vehicle for you and your team’s self actualization will make the journey easier. I believe it also increases your chances of material success.

Think about it. As a founder you have nowhere to hide, everythings on the line and you are constantly forced outside your comfort zone. The pressure is relentless and it’s lonely! Other than your coach or therapist, there is nobody you can be fully honest with. What’s more, all your weaknesses, along with your strengths are on display for everyone to see every single day! That said, nobody but your co-founder will be honest with you. (And that’s rarely true.) I’ll pause the list here.

In this pressure cooker you will either be destroyed, merely survive, or rapidly transform into a better and better version of yourself. It all depends on your mindset.

So, what do you think? Does my perspective resonate with you? If so, here are some steps you can take to get on the self realization fast track.

  • Embrace the Conscious Leadership model. It gamified consciousness development for business leaders and makes the practice practical
  • Work with exceptional coaches and therapists, not the off the shelf variety.
  • Understand your personality type inside and out using Enneagram or Meyers Briggs.
  • Understand your neuro-diverity profile and find healthy compensations.
  • Learn to see and work with your shadow side.
  • Embrace radical accountability and seek critical feedback.
  • Create a cohort of trusted founders who see it the same way and meet monthly.

 

Next step: Prepare the Meeting Agenda

Now you are ready to prepare to meet with your partner. Don’t wing it, use a proven meeting agenda template for difficult conversations. I recommend that you use the free C.U.B.E. for Difficult Conversations Meeting Agenda Templateto organize your thoughts and structure the meeting. It will take you 30 minutes to learn how to use it while making your meeting agenda. It ensures that the dialogue stays at the “by me” level, remains productive and doesn’t derail into conflict. It will keep you focused on discovering new solutions together. I’m tempted to walk you through this process but it would take another 5 pages to do so. You got this, CUBE is easy to use.

Next step: Ask your co-founder for the meeting

Email example

Lead with humility in the spirit of collaboration. “Hey Mike, I had some important realizations about how I have failed to set you up for success with the X, Y, and Z projects. I’d like to meet with you to share my insights, understand your experience better, brainstorm solutions and decide together what will work better. Are you up for that?”

Start the conversation by telling him you are trying out a new meeting template called CUBE for this conversation. Then open by taking responsibility for your role in the situation, which will diffuse tension and show that you’re not there to assign blame.

Fictional quotes from the meeting between Paul and Mike

Opening statement. “Mike, I want to start by apologizing. I’ve realized that I’ve been asking you to take on responsibilities that don’t fully align with your strengths. What’s more, I have not taken the time to clearly articulate my expectations in writing, which is always a mistake. I feel like I didn’t set you up to win. I’m curious what comes up for you hearing me say this.”

Tip: Use “I” statements to express your feelings without assigning blame, and use the active listening model so that your co-founder has the experience that you are truly listening. (If they don’t have the experience that you are listening, and they feel unheard, then the conversation will go off the rails.)

Prepare authentic acknowledgments. “Mike, you’ve done an excellent job building relationships and securing clients. Your ability to connect with people is a significant asset to our company. What’s more, your willingness to whole heartily take on initiatives that you haven’t done before is impressive. Exactly the trait a successful founder must have. “

In the spirit of collaborative dilemma. “We are in a tough place. I created a plan that we don’t have the experience, talent or human power to achieve. Rather than accept that I continued to hope that you would be able to learn an unreasonable amount quickly. Again’ I am sorry that I have expressed frustration with you, I know that you have done your best. I should have realized our collective situation sooner and pivoted to a plan that aligned with our talents. I believe pivoting to a plan that aligns more closely with our respective strengths is critical. The good news is that we now know what we can do and if we can find a plan the board will accept that is in alignment with our skills, we will do great.”

So how did it end?

Mike was so moved by Paul’s humility and accountability that he took full accountability himself! After mutual accountability was established they were in harmony and free to brainstorm solutions without fear of upsetting each other. They left no stone unturned and settled on an approach that included changes to the business plan and adjustments to Mike’s role. Unburdened from months of feeling bad about his performance, Paul was on fire! “I had no idea how much my internalized shame was holding me back.” Paul told me.

After the CUBE meeting

After the CUBE meeting, schedule weekly check-ins to ensure progress and maintain open communication.

What if?: Evaluate Compensation and Equity

If the redefined role requires adjusting compensation or equity accordingly. Delay this conversation until the new plan is underway and traction has begun.

I wrote an article on how to have this conversation, you can find it here.

Conclusion

Leading with an apology, acknowledging your own role, and working collaboratively to redefine expectations sets the foundation for a healthier partnership and a clearer path forward. I must repeat how crucial it is to follow a template like the CUBE model. Do not wing it!

I’ve witnessed many times how embracing radical accountability, empathy and reframing conflicts as a dilemma transform not just the co-founder relationship but the entire culture.

What’s more, relating to your company and your role as a dojo for accelerated self discovery and consciousness development for all involved is a total game changer.

Give it a try, what do you have to lose?

Resources for Further Support

Recommend additional resources that can offer guidance and support.

Additional Resources:

 

CUBE for Conflict was created to boil down complex models of communication into one practical, easy-to-use method that helps leaders avoid the most common mistakes in challenging conversations.

 

Hire a Mediator

With so much at stake investing in an executive coach who has experienced what you are going through many times just makes sense. It virtually guarantees that you will get the best possible outcome and maximum personal growth as fast as possible.

In service,

Michael

Evolving startup teams since 2010…

See what my clients are saying

www.thrivingfounders.com

Keywords: Decision-Making Process, Startup Leadership, Founder Decision-Making, Collaborative Decision-Making, Emotional Clarity in Leadership, Stakeholder Engagement Leadership Mindset, Self-Awareness for Founders, Strategic Decision-Making

Key to Thriving Work From Home Teams

Help Your Remote Team Thrive Next Week

March 2020

If you are new to leading a remote team, (or company!), then this may be the best insider resource you will find. Actually, even the most experienced remote leader will learn a new trick or two. 

After all, the next two weeks are going to be critical. If you can’t your teams focused, thriving, and happy, you will have real problems. 

“We have won awards like #3 on Glassdoor and #2 on Fortune’s Best in Tech Bay Area lists, despite almost half of our team working from home and the rest spread out across five global offices, and with me being a remote, work-from-home CEO living in Sedona, AZ.”

15Five Founder/CEO David Hassell has been a dear friend of mine for about a decade. As has his co-founder and Chief Culture Officer, Shane Metcalf. Together they have created one of the most successful distributed teams and cultures in the world. 

David and Shane spent a lot of time last week organizing their best practices into a detailed how-to guide that I want to share with you

David sent me this email. 

Hey Michael 

I just published a comprehensive guide for CEOs and leaders on how to prepare for an extended period of remote work.

https://medium.com/@dhassell/ceos-and-leaders-heres-how-to-prepare-for-an-extended-period-of-remote-work-14968f3d668e

It’s basically everything I know about building an extraordinary distributed team and culture (that’s both high performing AND socially connected) which I’ve done over the past 9 years in building 15Five.

We’ve won awards like #3 on Glassdoor and #2 on Fortune’s Best in Tech Bay Area lists, despite almost half of our team working from home and the rest spread out across five global offices, and with me being a remote, work-from-home CEO living in Sedona, AZ.

Thankfully we didn’t miss a beat with this move to shelter-in-place, and I’m hopeful I can help other leaders quickly adapt.

Jamie Wheal of the Flow Genome Project and author of Stealing Fire shared about it, 

“Amazing piece David — one of the most thoroughly useful, practical and credible guides to the whole remote org building I’ve ever come across. Engaging, humble, optimistic, evidence-based, and illustrated with your own examples of walking this talk. While everyone and their mother rushes into offering new products/posts about remote work, you guys have been at it all along, and the depth of expertise and commitment blazes through. Glad to know you and Shane, and I am sharing this with friends and clients. — Jamie”

If there’s anyone you know who you think could benefit, feel free to share!

David

I hope you find this helpful! 

-Michael 

Michael Costuros // Executive Coach

How to Lead Through a Prolonged Crisis

How to Lead Through a Prolonged Crisis

Here is a tool my clients and I have found very effective this week. It will help you, your family, and your teams in the following critical ways.
Benefits

  • You will feel more empowered
  • You will experience greater clarity
  • You will feel ahead of the eight ball

It will provide these benefits while also reducing feelings of stress, anxiety and overwhelm.
Too good to be true, right? You’re about to find out.

I’m calling this tool The Three Clarifying Questions, and it’s based on the well-known Circle of Influence/Circle of Concern made popular in Stephen Covey’s The 7 Habits of Highly Effective People.

I am going to provide you two versions.

  • One that you can share with friends, family, and employees.
  • One for leaders that you can personalize

FOR EVERYONE ELSE

First, here is a Circle of Influence/Circle of Concern (CI/CC)you can share with anyone. It has been adapted to address the impact of the Corona Virus. It’s a good example of how you can use the CI/CC tool to address any challenge, even one as complex as leading during a pandemic. I invite you to share this with your family, friends, team, and employees.  



Do you think this could help the people you care about stay focused on concerns that they can actually do something about? If so, share it. 

If you share it with people that you are leading, consider advising them to personalize it by adding their specific items to each area. Making it their own will help them keep this tool top of mind. 

JUST FOR YOU

What makes the above diagram safe to share with anyone also makes it almost useless to you as a leader. What follows is The Three Questions tool for leaders that my clients and I developed this week. 

 

You have heard the serenity prayer. 

God, grant me the serenity to accept the things I cannot change,
courage to change the things I can,
and wisdom to know the difference.

Well, these are the questions that provide you with the wisdom to know the difference. 

What do you have control over?

What do you have influence over?

What do you wish you had control over but don’t?

Instructions

  1. Pick any issue you are facing. 
    1. Examples:
      1. Cutting cost
      2. Staying healthy
      3. A slump in sales
  2. Ask these three questions about that issue. 
    1. What do you have control over?
    2. What do you have influence over?
    3. What do you wish you had control over but don’t?

       

  3. Prioritize what you have control over, put attention on what you can influence, and DISMISS WHAT YOU DON’T. BOOM!

I recommend you do this exercise with a big picture challenge and a specific challenge. You will then learn how to apply it to the macro and the micro. 

 

EXAMPLE ANSWERS

I invite you to consider the following example as a starting point for your big picture challenges. It is intentionally incomplete.  Delete what doesn’t work for you, add what does. 

 

CIRCLE OF CONTROL: ++++++

What do you have control over?

Personal

  • Identifying what you need to increase your mental, physical, emotional and spiritual health and prioritizing these things so that you are in the best state for making big decisions.
    • Limit your exposure to news and social media. 
  • Identifying the behaviors and thought patterns that diminish your mental, physical, emotional and spiritual health and commit to stop doing these things so that you are in the best state for making big decisions. 
    • Limit your exposure to news and social media. #NoNewsBeforeNoon  
  • Strengthen your immune system and cardio health so that you farewell if you catch it.
  • Have a plan for what you will do if you get the virus. 
  • Have a plan for what you will do if someone in your home or family gets the virus.
  • Having the food and supplies you feel you need, enough to put your mind at rest. 
  • Personal financial planning to adjust to the recession. 

Professional 

  • How you choose to lead your followers. 
    • Influence: Your quality of presence, your relatability, your advising/suggestions. Your followers look to you for leadership. Do not shy away from sharing your recommendations! Starting with the graphic above. 
    • Impact: The decisions you make that impact your followers. 
  • Financial scenario planning and strategy for the new reality. 
  • Business scenario planning and strategy for the new reality.
  • Have a plan for what you will do if someone in your company gets the virus.

CIRCLE OF INFLUENCE ++++++

What do you have influence over?

Personal

  • Doing what you can to avoid getting the virus until after the peak. 
  • Reducing the concerns of loved ones by proactively checking in with them. 

Professional

  • Investor relations: Proactively managing your investor’s concerns. 
  • The level of fear in your company culture: Proactively leading them through the fears. 
  • Finding additional sources of investment and revenue.  

CIRCLE OF CONCERN ++++++

What do you wish you had control over but don’t?

  • – What the government will do.
  • – What the virus will do.
  • – What the economy will do.
  • – How long this will last.
  • – How people respond to your choices.
  • – What anyone outside of your innermost circle thinks, does or believes.

Let me know if you found this helpful. Any and all feedback is truly appreciated. 

Cheers,

Michael

Leader’s guide to making great decisions during a pandemic

Leader’s guide to making great decisions during a pandemic

How do you make great decisions in a state of total uncertainty? Important decisions for yourself, your family, your employees, your company and your investors, all on the same day! This may be the greatest leadership challenge of your life.

Allow me to share what has been working for my CEO clients and what DIDN’T work for me.

I’m ashamed to admit that I came a bit unglued yesterday. Looking back, I can see that fear hijacked my thinking. What bothers me most about what happened is this.

While it was happening, I had no idea. I thought I was on my game! But really, my thinking, decisions, and actions were distorted by fear. Fear that I didn’t realize I was experiencing.

That scares me.

Luckily the only downside was overbuying food on a Sunday afternoon and insulting my father. (Sorry dad!)

As an executive coach to CEO’s, it’s my job to be on my A-game! If this happened to me, it could happen to you.

I wrote this best practice guide based on what’s working for my clients and what I learned not to do. If only I had written this two days ago! Truth is, I couldn’t have written it without yesterday’s experience. Viva paradox!

#1 Limit your news and virus research intake! Nothing will distort your thinking as much as a news binge. One hour spread across an entire day is enough to grok what you really need to know. Set specific times Resist the urge to look

#2 Pick three people who think differently than you and sanity check all your big decisions with them. I am getting calls from clients asking “Hey Michael, what do you think about this, am I being paranoid?” Now that’s smart.

#3 Decide here and now that you CAN NOT BE SURE what will happen. You DO NOT have a crystal ball. Even the experts are not sure and the internet will not make you an expert. If you are feeling SURE, that’s a sign that you are under the influence of fear. Fear craves certainty so it will create it. Apply rule #1 & #2 immediately.

#4 Calibrate for fear distortion. Whatever you decide is the worst-case scenario for a given situation, reduce it by 10-20%.

#5 Don’t share information unless it has been validated by a news source you trust.It could be fake like that text about the lockdown. Spreading fake news is embarrassing. I know. I have done it twice since the crisis started and I don’t like admitting that.

#6 Maintain your daily wellness practices. Exercise, meditation, break dancing, whatever gets you out of your head and into your body. Do it more than once a day. Use this time as an opportunity to connect with nature and spirit. You need to be more YOU than ever. Your followers need YOU, not your fears. Do what it takes.

#7 Choose entertainment that takes your mind off of what’s happening. Stand up comedy, romantic comedies, movie classics. By all means, don’t watch Contagion or anything else that might feed your fears. Fear seeks food so it will want you to do what feeds it. Resist!

The fact that you have earned the position you have means that you have what it takes to lead through this. I hope these guidelines help keep you and I on our A-game.

Michael

 

 

How to Screen a Candidate for the Ability to Perform Under Pressure

How to Screen a Candidate for the Ability to Perform Under Pressure

(UPDATE: Read the bonus advice from recruiter Ron Jennings in the comments below.) Finding a person that will meet or exceed your expectations during the early phases of a startup is mission critical. So much is riding on the success of your early hires.

In addition to the right skill and culture fit, you want to hire people who thrive at a 7-9 stress level, don’t crack when it spikes to 10.

I just finished a session with the Founder/CEO of a company that is hiring two executives. They have a million in seed investment and one shot to make this work.

My suggestions are meant to be a starting point, to get you thinking about the questions you should ask to figure out in advance how a candidate will perform under stress.

BUT WHAT YOU THINK?
~ If you have an additional best practice to add, share it with me in the comments.

~ If you think I’m wrong, challenge me in the comments.

~ If you have a question, ask me in the comments and I will answer you.

~ If you like the video, click the like button so I know that I have contributed to you!

– Who do you know that would find this information valuable? Text them the link to this video.

In service,
Michael

++++++++++
VET ME:
www.linkedin.com/in/mcosturos

WORK WITH ME:
clients {at} mcosturos.com


FROM THE LEGAL DEPARTMENT: Take Michael’s subjective advice at your own risk. Every situation is different and requires special attention. The advice I share is intended to stimulate your own thinking, not replace it. You are the expert in your situation.

How to Get Your Founder/CEO to Make a Decision

How to Get Your Founder/CEO to Make a Decision

You want to move forward but you can’t until your founder/CEO makes the final decision and you’re tired of waiting…

Here’s a technique that could get them to decide today that does not run the risk of coming off as disrespectful. Below you will find a starting point email template you can use should you decide to follow through on the strategy I offer in this video.


DRAFT EMAIL TO YOUR CEO
(Please consider this as a starting point that you customize to fit your unique situation.)

==============


Hi ____,

I know that you are wanting to have the information you need to decide on the VP of Marketing position. I think you may get the clarity you need if I present the latest pros and cons as I see them. Take a look, if it’s not helpful, you can delete this email. 🙂

(Start with restating the ultimate goal the decision supports.)

Our goal is to realize the full revenue and brand building opportunity that comes with getting the most out of the Vegas trade show.)

(Remind them of the strategies being considered to meet the goal.)

To achieve this we agreed that we need someone operating at a VP of Marketing level because the current team does not have the experience.

(Remind of the decision to be made.)

The options we identified are either to hire somebody now or promote from within.

Here are the pros and cons supporting each option as I understand them.

Option A: Hire new
– Pros list
– Cons list

Option B: Promote from within
– Pros list
– Cons list

(Make your recommendation.)

I recommend we hire new for these reasons…

– List your reasons.

I’ve checked in with the team and here is where they stand.

John: new
Jenny: Promote
Meg: Promote

If you want me to get the reasoning behind each of their positions I can do that for you.

(Now you can prompt a decision.)

Maybe this gives you the clarity you need to make your decision now? If so, what do you want to do?

If not, and there is something I can find out for you that would enable you to decide now?

(Humble yourself and provide an opt-out.)

I’m sure there are many factors you are considering that I am not aware of. I trust your judgment. I hope you find this helpful, if not, feel free to delete it.

– Signed,

your name

==================


That’s it!

In the video I provide you with critical texture, color, and context, so please listen to it before using this template.

 

WHAT DO YOU THINK?

~ If you think I’m wrong, challenge me.

~ If I missed something important, ask for it in the YouTube comments and I will answer you.

~ If you have a best practice of your own on the topic, share it with the community in the comments.

~ If you like the video, like it, so I know that I have contributed to you.


In service,
Michael

++++++++++
VET ME:
www.linkedin.com/in/mcosturos

WORK WITH ME:
clients {at} mcosturos.com


DISCLAIMER: Take my subjective advice at your own risk. Every situation is different and requires special attention. The advice I share is intended to stimulate your own thinking, not replace it. You are the expert in your situation.

How Practically Guarantee Your Next Hire Is a Big Win

How Practically Guarantee Your Next Hire Is a Big Win

The cost of a new hire not working out is astronomical. Over the years I have helped prevent or resolve countless new hire breakdowns and I have one master tip that will practically guarantee your next hire works out even better than you had hoped!

After watching this 3:24 minute video you will not forget to apply my key filtering question before making your next hiring decision.

The problem usually starts when the existing team lead is implicitly or explicitly expecting to be promoted into a role you want to hire someone for. So you have a real problem. How do you get the existing team leader to accept and work with this person as their superior even though they’re expecting to have that position?”

Here’s the rule to follow. Only hire somebody who is clearly superior or clearly junior to the current leader of the department they are joining. You know that they are clearly superior if your existing leader is truly excited to learn from them. If they are not then you can bet that they will not respect them as their leader. If they don’t, this leads to the team dysfunctions that typically lead to one of the two leaving within 9 months. The time, money and emotional bandwidth it takes to untangle this mess are astronomical.

So before you make an offer letter, be sure the answer to the question, “Is _______ genuinely inspired by the opportunity to work with _______?” is YES.

I’D LOVE TO KNOW WHAT YOU THINK.

~ If you have an additional best practice to add, share it with me in the comments.

~ If you think I’m wrong, challenge me in the comments.

~ If you have a question, ask me in the comments and I will answer you.

~ If you like the video, click the like button so I know that I have contributed to you!

– Who do you know that would find this information valuable? Text them the link to this video.

In service, Michael

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VET ME: www.linkedin.com/in/mcosturos

WORK WITH ME: clients {at} mcosturos.com

 

FROM THE LEGAL DEPARTMENT: Take Michael’s subjective advice at your own risk. Every situation is different and requires special attention. The advice I share is intended to stimulate your own thinking, not replace it. You are the expert in your situation.

How to Recruit a Startup Rockstar (who doesn’t need the money)

How to Recruit a Startup Rockstar (who doesn't need the money)

How do you get a startup veteran with a rockstar record (and all the money they need to live a life of leisure) to join your startup?

Start by getting them to agree to be an advisor.

Here is a simple method you can use that worked for me.

1. Before talking, identify the leverage you have. Other than money, what does your venture have to offer? (Meaning, purpose, prestige, or experience.)

2. Do your homework and figure out how what you have to offer may be a fit for the candidate.

3. Adjust your pitch story in such a way that it is easy for the candidate to recognize how joining your venture will meet their unmet needs.

4. Get an intro and ask them to lunch to talk about the possibility of becoming an advisor. Getting them to join as an advisor is the first step.

5. Keep the meeting casual, share your story. Key: DON’T TRY TO SELL THEM, let the candidate find their next chapter in your story for the company.

6. Ask them, in a relaxed way, what aspect appeals to them the least? Start with the negative so you end on the positive. Don’t try to change their mind, just hear them out. Be a thought partner.

7. Then ask, what aspect of the opportunity appeals to them most? Talk casually about that. Don’t sell them, meet them where they are at. Be a thought partner.

8. Play close attention to their body language and notice what part of the opportunity most peaks their interest. You can trust body language more than words.

9. End the meeting in a friendly way, ask if they are willing to have a follow-up conversation next week.

10. Write a summary email. An outline of points below:

1. Great conversation.
2. Acknowledge something you learned from them that you value.
3. I enjoyed considering the possibility of you coming on as a formal advisor. In fact, I am now confident that you would be a great fit.
4. I appreciated learning that X, Y and Z aspects of the role seem to be a good fit for you. I also appreciate knowing that X and Y aspects are much less appealing.
5. Thanks for agreeing to meet again. I’d like to take our exploration a step further. I’d like to learn what would need to get from where you are to a clear yes. Who knows, maybe we can make it happen! Take my advice at your own risk. Every situation is different and requires special attention. The advice I share is intended to stimulate your own thinking, not replace it. You are the expert in your situation. I just hope this helps.
-Michael

 

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Is there an approach that you’ve found that works even better? Ask me a question about what I have shared.

If you liked this subscribe to my channel to be notified when I add new videos weekly: https://tinyurl.com/startupfoundersolutions

You got this!

Michael

 

VET ME: https://www.linkedin.com/in/mcosturos

WORK WITH ME: http://apply.mcosturos.com

DISCLAIMER: Take my subjective advice at your own risk. Every situation is different and requires special attention. The advice I share is intended to stimulate your own thinking, not replace it. You are the expert in your situation.

Why You Should Consider an Acqui-hire BEFORE Your Series A

Why You Should Consider an Acqui-hire BEFORE Your Series A

Consider using your seed funding to execute an aqui-hire that solves your recruiting and speed to market challenge! In this video, Bryan Franklin, the first-time founder/CEO leading Outbound Works will explain why and how he pulled off an acqui-hire just months after his seed round.

Wake Up To The Power and Quality of Sleep

Wake Up To The Power Of Sleep

Since I can remember I thought I knew all I needed to know about sleep. Most of my opinion oriented around the overachiever motto, “I’ll sleep when I drop.” Boy, was I wrong! Little did I know that our ability to realize our full potential is directly linked to the quality and quantity of sleep we get. 

I’ve spent the last few months learning about sleep best practices and testing them out. I’m excited to share my most valuable and actionable insights with you. 

You are about to become a fan of Dr. Matthew Walker…

He is considered the world’s foremost expert on sleep science. The following videos were made while he was promoting his world-changing book, Why We Sleep.

Here are the videos I recommend in order of priority.

Appetizer: 5 min introduction to Dr. Walker’s thesis

Main Course: Dr. Walker presenting at Google – Will blow your mind!

Desert: Studies show naps work better than caffeine – TEDx

Interested in learning about power naps and more?

I have made a YouTube playlist for you containing the best quality and most inspiring educational videos on mastering your sleep.

Take a look and see which titles intrigue you most. The video playlist is unlocked, so if you have a favorite sleep hacking video to share please add it to the list!