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SHAPING THE LEADERSHIP THAT IS SHAPING TOMORROW
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YOU CAN’T CHANCE CHANGE
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“BUILDING THE PERFECT MANAGEMENT TEAM”
SOME INSIGHTS 22ND MARCH 2018
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STOP DREAMING
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LET’S SET THE SCENE Vinod Khosla
According to Khosla, too many companies who want to think big are doomed to remain small because they pick the wrong investors, as he says, “Any investor who looks at exit strategies, or multiples of investment or even does an IRR calculation, a rate of return calculation, probably is the wrong partner for you.” “I think the single, most important fact about doing a start-up is being clear about your vision and not let it get distorted by what pundits and experts tell you. But the second most important thing is finding the right team, and that’s really, really hard, because people tend to look for people around them…You know, I was relentless… really spent well over 50% of my time recruiting, and I encourage all entrepreneurs to try and do that.” Vinod Khosla Founder & Managing Partner, Khosla Ventures General Partner, Kleiner Perkins Caufield & Byers Founder, CEO & Chairman, Sun Microsystems
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LET’S SET THE SCENE Vinod Khosla
According to Khosla, too many companies who want to think big are doomed to remain small because they pick the wrong investors, as he says, “Any investor who looks at exit strategies, or multiples of investment or even does an IRR calculation, a rate of return calculation, probably is the wrong partner for you.” “I think the single, most important fact about doing a start-up is being clear about your vision and not let it get distorted by what pundits and experts tell you. But the second most important thing is finding the right team, and that’s really, really hard, because people tend to look for people around them…You know, I was relentless… really spent well over 50% of my time recruiting, and I encourage all entrepreneurs to try and do that.” Vinod Khosla Founder & Managing Partner, Khosla Ventures General Partner, Kleiner Perkins Caufield & Byers Founder, CEO & Chairman, Sun Microsystems
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A REALITY CHECK FOR EUROPE
“We now have US$3BN under management. Last year, we turned down 40 European companies in healthcare really on the basis of quality and most of all the management teams. They don’t compare with US or Asian ambitions, speed or quality. We don’t have any investments in Europe and that’s a shame because I’m a European!” Senior Partner Unnamed Capital 22nd February 2018
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A REALITY CHECK FOR EUROPE
“We now have US$3BN under management. Last year, we turned down 40 European companies in healthcare really on the basis of quality and, most of all, the management teams. They don’t compare with US or Asian ambitions, speed or quality. We don’t have any investments in Europe and that’s a shame because I’m a European!” Senior Partner Unnamed Capital 22nd February 2018
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A SOBERING THOUGHT 50-70% of executives fail within the first 18 months of starting an executive role (internally or externally) and of those, about 3% "fail spectacularly," while nearly 50% "quietly struggle.” People are generally hired for their skills and experience and released for their personality
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CREATING VALUE
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HOW DO YOU DO IT?
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THE MECHANICS BUILD YOUR COMPANY TO ATTRACT AND RETAIN THE BEST AND MOST TALENTED VISION/ VALUES “DNA”: COMPANY PERSON THE PEOPLE CYCLE
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THE PEOPLE CYCLE PLANNING understanding, strategising, profiling
IDENTIFYING networks, competition, market research, lateral thinking ATTRACTING focused, targeted strategy, creativity PROFILING instincts, interviewing, referencing, psychometric, team dynamics NEGOTIATING understand, money, equity, cash-non-cash, creative SECURING contract, post-sell, counter-offer ON-BOARDING integration, induction, relationships STARTING communicate, hand-holding, inform SUCCEEDING manage, coach, mentor, support, direct, stretch, challenge RETAINING traditional, non-traditional benefits, professional growth EXITING timing, circumstance, mutual value, ambassador
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THE PEOPLE CYCLE PLANNING understanding, strategising, profiling
IDENTIFYING networks, competition, market research, lateral thinking ATTRACTING focused, targeted strategy, creativity PROFILING instincts, interviewing, referencing, psychometric, team dynamics NEGOTIATING understand, money, equity, cash-non-cash, creative SECURING contract, post-sell, counter-offer ON-BOARDING integration, induction, relationships STARTING communicate, hand-holding, inform SUCCEEDING manage, coach, mentor, support, direct, stretch, challenge RETAINING traditional, non-traditional benefits, professional growth EXITING timing, circumstance, mutual value, ambassador
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TECHNOLOGY FAILURE IS ACCEPTABLE MANAGEMENT FAILURE IS NOT!
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NOW… Q&A
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RECURRING THEMES Hiring mistakes (sales, business development, board) Correcting hiring mistakes Developing and embedding a culture Balance between science/business Recruiting in a candidate marketplace Key elements of a management team Attracting and managing the best Compensating when cash is limited
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HOMEWORK FOR EVERY ENTREPRENEUR, MANAGER, LEADER, SOME TECHNIQUES ON MANAGING AND MOTIVATING PEOPLE…
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ESSENTIAL READING
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ESSENTIAL READING
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ESSENTIAL READING
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SHAPING THE LEADERSHIP THAT IS SHAPING TOMORROW
46 MANCHESTER STREET LONDON W1U 7LS UNITED KINGDOM +44 (0) (tel) +44 (0) (fax) aggiosergeant.com
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