Free Agency: How To Give Your Startup A Chance To Succeed

If you are founding a company and want to hire the right people, look no further than your favorite NFL team for evidence of how (or how NOT) to build your winning squad. For me, only one in 32 teams will build the best roster, and achieve the exit they want: a Super Bowl victory.

For you, the odds of attaining your goals are likely much, much worse. That said, startups do have a variety of paths to “success,” from an IPO to acquisition by some Silicon Valley powerhouse to building a sustainable privately held company (despite what your VC’s tell you, those actually do exist).

When starting a company, you need to think like an NFL team, which starts a new business in the same field year after year. Think of it this way: you hit free agency, so to speak; your non-compete has run out, and you are ready to forge a new startup. You will, of course, try to bring the best and brightest with you from your previous team, but other agendas are always at play. Other companies/teams will offer your targets better pay. Some will offer them more responsibility/playing time, flexibility, and autonomy, etc.

Before you can even think about building out a successful team, though, you are going to need a foundation for growth; you want to make sure you build your house on rock, not sand. So who/what do you grow your team/company around?

1. Intrinsically motivated people. No rah-rah speeches needed here. You want players who are willing to work individually for their success and for the success of the team. There is nothing worse than a selfish teammate. “A rising tide lifts all ships” is a common coach-ism. Applied to the winning startup, it means that success for the team will mean success for the individuals on the team — regardless of their place in the pecking order.
2. Clearly stated goals. “Getting better traction” and “Increasing conversion rates” are not specific enough. You need to define success throughout the entire process, even if it’s only a stepping stone to something bigger. Your team will need feedback on these goals. Most importantly, you need to hold people accountable to the process required to achieve the goals, not the goals themselves. There are other variables that will impact whether or not a goal is achieved, but the process should be a settled one; one which can be coached and improved upon as necessary.
3. Acquire talent. (Let’s pretend, for the sake of argument, that there is a free market for NFL labor.) You can do this through the draft (hiring someone fresh out of college) or you can poach talent from other teams. No matter what your offer includes, you need to remember that your history as an employer and the perception of your company will have a huge impact on just how excited people are to work for you. Always assume prospective employees talk to your current/past employees, so be mindful that these people can be a pipeline to even more talent OR they can send hopeful candidates running for the hills.

So where do you start? What’s the most important position in your company? If you answered “Tight End”, you’re funny and awesome, but I’m going to guess your levity isn’t having the impact on your balance sheet that you had hoped for.

The Quarterback/Founder is the most important player on a team’s offense. Why? It’s not because he gets all the endorsements and fancy commercials, or because he gets to call the plays. It’s because he handles the ball on EVERY. SINGLE. PLAY. Like most startup founders trying to navigate their way through the twists and turns of building something, quarterbacks, too, must become adept at making quick, competent decisions, and moving on to the next play — regardless of the outcome.

Founders, you are expected to be the leader. You must force yourself to lead, even if you aren’t comfortable with it yet. Andrew Luck’s freshman year, he had to control a huddle filled with guys older and more experienced than he was, but he knew that getting comfortable leading that group was the only path to success for him. And so it shall be for you. It comes with the job; you will be looked to for leadership.

The reality is that teams without a good quarterback struggle.

Even the [insert adjective here] people in the media know that. (I wouldn’t put too much stock into anything else they say.) As a company grows, the founder usually grows into the role of head coach, simply because he or she can’t make every decision. Delegating to trusted and capable coordinators and assistant coaches becomes crucial. (We’ll save management hires for another time.)

Bringing in the right people is probably the most difficult task faced by both NFL teams and growing companies. Using these basic concepts, though, you can help propel your team in the right direction.