My 7 principles for building a great consumer tech company
As a friend of mine recently put it, “Groupthink at an early-stage company is actually a good thing.” The most effective teams have a shared set of principles.
I learned this the hard way when I joined Thumbtack six years ago. We didn’t all have the same fundamental beliefs, and we spent a lot of time fighting over whose were right. The back-and-forth both slowed us down and was emotionally draining. I almost quit.
I don’t think my set of principles are the only ones that can result in success. But as a founder, I believe the best way to build a successful company — and create a fulfilling place to work — is to find people who share these principles.
- Don’t compromise on your long-term vision but be flexible about how you get there. Have a strong worldview. Be willing to pragmatically change everything else quickly.
- (Good) growth cures problems. Momentum is infectious. Scale gives you data, which speed up learning cycles. Always be thinking about how to be bigger, but don’t “buy” growth that’s unsustainable.
- Great companies are built with great execution. Winning depends more on how effectively we build than whether we have the perfect solution. Make decisions quickly. Hire people with a bias for action and a drive to ship.
- Prioritize rigorously. Companies can only do a few things well at once. Don’t try to do more. Don’t hire people who can’t contribute to a mission-critical goal.
- Great people are multiples more effective than good people. Keep the bar high. Build a culture that attracts & retains great people.
- Those great people thrive when they have ownership. Leaders should give their team members room to run within the bounds of a clear vision and goals. But if a project is make-or-break for the company, leaders should get their hands dirty.
- It’s hard. Fight and drive are essential to winning. That may require weekend work sometimes, but it shouldn’t be a consistent pattern. Hire people who are motivated by both challenges and winning.
Share these principles and have an interest in joining an early-stage company in New York? Get in touch!