Brad's Books and Organizations

Books

Books

Organizations

Organizations

Hi, I’m Brad Feld, a managing director at the Foundry Group who lives in Boulder, Colorado. I invest in software and Internet companies around the US, run marathons and read a lot.

« swipe left for tags/categories

swipe right to go back »

Building A Business Operating System

Comments (11)

Matt Blumberg‘s amazing new book Startup CEO: A Field Guide to Scaling Up Your Business is out and shipping. The early reviews are great, including this detailed one from Tech Cocktail.

Matt’s book is already having an impact in my world. At Cheezburger, we just added Scott Moore to the leadership team. Ben Huh, the founder/CEO who I adore and love working with, send out a powerful email about how he’s approaching Cheezburger’s next stage of growth, and how he’s thinking about building the business operating system. He builds off many of the concepts in Matt’s book and told me I was free to blog this for the world to see.

Following is Ben’s email.

——–

Hey Cheezburgers,

After recruiting our new COO & President Scoot Moore, I am shifting one of my major projects to on boarding Scott. I’m kicking off the process of building the business Operating System for Cheezburger. This is a super important item that I am thrilled to get started on.

It’s perfect timing for us. As COO & President, Scott has management responsibility for a huge area of Cheezburger. By building the metrics, communication rhythms, reports, etc. I can really help Scott get a feel for our business and where we stand as we plan for 2014. It’s one part communication, one part feedback process, and one part creating clarity.

A business Operating System is a simple idea:

  • Using the company’s values (of Truth, Excellence, and Happiness)…
  • create a set of consistent rhythm for communications, meetings, procedures and decision-making…
  • which helps align everyone’s goals with the ultimate objectives of the company.

Put in other words: A business OS is how we consistently and clearly communicate, hire, make decisions, etc. that help us do more faster.

In practice, this comes down to some answers to questions like this: (examples)

  • When do we plan for the next year? And who owns the process?
  • How do I measure my performance against my, or my team’s goals?
  • I need another person on my team to help better reach my team’s goals. How do I go about doing that?
  • I’d like to send out a company-wide update on something my team did. How do I do that?
  • How do I know what I am working on aligns with the company’s goals?
  • What metrics do we report company-wide? And why?
  • etc. etc. etc.

It’s an idea I first heard from another Foundry Group CEO, Matt Blumberg. In fact, he’s written a book based on those ideas.

One of the key improvements you should see as a result of this should be more consistency and clarity in communications and processes. This is one of the reasons why I push for a single IT system like Google Drive vs having two, and why I want you to post content for dissemination in our intranet. I hope that the OS will help you see the bigger picture. The opposite of having an effective business OS is a company that is confused due to lack of clarity and unable to move in the same direction together, therefore missing goals and opportunities.

There are 6 key areas that I want to structure the OS around (this will evolve as I work with Scott and the exec team):

  1. Company-wide communications and meetings
  2. Creating, aligning, and sharing goals
  3. Measuring performance against goals and metrics
  4. Establishing cadence, rhythm, and deadlines
  5. Clarity in decision-making process, transparency, and openness
  6. Well-functioning systems and operational processes

For you, the impact will be that I will be talking about almost everything in the context of our Culture/Values, Goals/KPIs/Metrics, and Systems/Processes.

The Power of TAGFEE and Just Executing

Comments (26)

So far I’m pleased with my shift to Maker Mode this summer.  I’ve managed to get in a solid four hours of writing on my Startup Communities book each day and will have a full draft to circulate to a small group of people on Saturday. I chose deliberately to skip TechStars New York Demo Day (which looks like it went great) this year, which was a hard choice for me but I just didn’t want to break the flow of what I’m doing. And I’m still running on inbox zero and – other than physical proximity – haven’t heard any concerns about my responsiveness or availability. As a bonus, I’m getting to spend 24 hours a day (except when I’m out running) with my amazing wife Amy.

Yesterday I saw a post from Gnip titled You Are What You Do. Gnip is one of the companies we’ve invested in that I refer to as a Silent Killers - they are building an amazing company by just doing things that customers care about, not hyping themselves, and delivering what they say they are going to deliver, ahead of and beyond expectations. No hype – just substance – and execution.

This was coincidentally followed a few minutes later by an email exchange between Ben Huh (Cheezburger CEO) and Rand Fishkin (SEOMoz CEO). Rand and SEOMoz run on a set of principles called TAGFEE (Transparent, Authentic, Generous, Fun, Empathetic, Exceptional) and if you want to see this in action, take a look at the post Rand wrote recently about the financing we led titled Moz’s $18 Million Venture Financing: Our Story, Metrics and Future.

Ben (to:Rand, Brad): Just a random thought… Maybe I don’t have the balls to do it, maybe I just think that I want to run my biz differently, but the more I do this, the more I converge on TAGFEE. Thanks for putting it out there in the world.

Brad (to:Ben, Rand): I am 100% convinced TAGFEE is right. It’s so unbelievably liberating. 

Rand (to:Ben, Brad): This email put a huge smile on my face. That said, it’s fucking hard. So hard I can barely believe it. Being TAGFEE yourself when there’s always pressure not to sucks bad enough. But working with a large team and getting managers and individual contributors to act this way (and figure out when/where/how/whether it’s being broken) is the toughest challenge I’ve ever had. Thankfully, it’s incredibly rewarding, too. Oh – and there’s a missing “H” in TAGFEE. For humility. In fact, empathy and humility in potential hires are the best predictors that they’re going to fit with our team and be TAGFEE.

In contrast, I got an email from a VC earlier this week who said “aren’t you worried that one of your LPs will see your post about spending the summer at your place in Keystone?” My immediate reaction was to point him to TAGFEE and say that we try to be 100% TAGFEE with our LPs so I hope they see what I’m doing and appreciate why I’m doing it. I know unambiguously what my job for my LPs is – they give me a box of money and my job is to give them back – over time – a much bigger box full of money. I’m never confused this and I always try to do it in a way that maximizes the size of the box I give them back.

If you line up You Are What You Do, TAGFEE, and Silent Killers you start to get a feel for the type of entrepreneurs we love to work with. An awesome part of it is watching them learn from each other and learning from what they are learning. It informs everything I’m thinking about and the last 24 hours once again reinforced for me the power of TAGFEE and just executing.

I Can Has A VC

Comments (15)

My friends at Cheezburger Networks have been rolling out what we have internally been calling Cheezburger 3.0. It’s called Cheezburger Sites and lets anyone create their own humor channel on the web.

In my never ending effort to poke fun at myself – and other VCs – I’ve created a site called I Can Has A VC. It’s just getting started – feel free to send me videos and photos of VCs doing stupid things, or stupid things masquerading as VCs.

And – if you has a sense of humor, go for it!

Who’s LOLing Now?

Comments (15)

Today we announced that Foundry Group took a bite out of Cheezburger as we led a $30m financing of the company that started out by bringing you cute cate pictures.

Ever since I met Ben Huh 18 months ago via an introduction from Micah Baldwin (see Micah – I do take you seriously – some of the time) I’ve had a major entrepreneur-crush (sort of like a man-crush, but, well, you get the idea) on Ben. C’mon – the guy wears a cheeseburger on his head – how can you not love him.

ben with cheez on his head

After meeting Ben, I decided to try out the site. My first LOL was my wife Amy’s car on fire – feel free to click on it and go vote it up.

.Hot Car

We’ve made this investment as part of our “Distribution Theme” which includes Zynga, Topspin, and StockTwits. I realize that I haven’t written about Distribution on the Foundry Group blog – guess I’ll go do it after I finish this post. Or maybe I’ll just surf around on some of the 50 Cheezburger Network sites.

I’m back – that was a not so short sojourn to My Food Looks Funny, I Has A Hotdog, FAIL Blog, and Very Demotivational.

Our co-investors are Madrona, Avalon Ventures, and SoftBank Capital. Ben and his team have built an awesome company. I’m really psyched to be a part of it to help it grow to the next level.

StockTwits.TV Do More Faster Interview – Ben Huh

No Comments

Next up in the StockTwits.TV Do More Faster Interview series is Ben Huh, the founder/CEO of Pet Holdings, better known as the guys who do ICanHasCheezburger, Fail Blog, and about 50 other crazy and hilarious sites.

I was introduced to Ben several years ago by my friend Micah Baldwin (Graphic.ly CEO, TechStars Mentor, contributor to Do More Faster, and hilarious dude in his own right.)  I care deeply about community and have learned a lot about it from both Micah and Ben.  Ben was pretty serious sounding in this interview, so if you need a good end of the work week office laugh, one follows.  But – listen to the interview with Ben – you’ll learn something.

job lols - And... Here... We... Go!
see more Monday Through Friday

Build something great with me