Archive for the ‘Recruiting Corner’ Category

Quick Tip: Immigration Status Disclosure

Thursday, November 15th, 2007

The
limit on new H1-B visas for 2008 was reached within 48 hours of opening
up applications back in April of this year.  That means that startups
cannot sponsor visa candidates until 2009 unless they are a transfer
with an existing H1B visa.

In today’s global economy, there are
many candidates out there who have come from other parts of the world
to work in the United States.  Hiring managers can have a very
difficult time determining from a resume whether or not the candidate
is currently on a visa, has a green card, or is a US citizen.  As a
candidate, it is in your best interest to disclose your status directly
on your resume, at the top or bottom, so that employers do not have to
guess on your status.  Fair or not, hiring managers often set aside
resumes of candidates who appear to have complications around work
visas.

If you think there could be any question about the status
of your ability to work in the US or elsewhere, you’re better off
clearly disclosing your status on your resume just to be safe.  Hiring
managers and recruiters often have only a few seconds to review your
resume and make a decision.  If they think they will need to make a
phone call or send an email to follow up on your work eligibility, you
may get passed over due to a lack of time to take that step.

How to Pick a Winning Startup, Part II in a Series: Know Success and Failure

Thursday, November 8th, 2007

by Jeremy McCarthy, CEO, VentureLoop

In Part I we explored the first step to picking a winning startup: following the professional gamblers, the venture capitalists.  So you’ve done some homework and tracked some of the investment trends with the top VC funds.  You can see a few markets they are targeting that look to have some promise.  You have tracked a few companies in those markets.  Now what?

Knowing the reasons a startup succeeds or fails will help you know what to look for next.  I’ve outlined some of the factors to look for below, but this is by no means a comprehensive list.  Startups that exhibit characteristics of success or failure on the list are also not guaranteed to succeed or fail.  Exceptions can be found to almost any rule, and this list is only meant to be a guide.

Focus
I had dinner with an old friend last night who told me a story of a product manager job he had with a startup company a few years ago.  The founder of the company created and sold a software company that made him very wealthy in the past, and now he was trying to replicate that experience again.  The company had a great entrepreneur with prior success, good funding, and a solid team.  And they failed.  My friend blamed the failure on an issue that I have seen as one of the most deadly in the startup world: lack of focus. 

All companies struggle with focus, but losing focus can be most dangerous to a startup as they do not have the resources to recover.  The company in this example had a CEO who never stopped adding features and functionality to a product until the market opportunity passed them by.  The development team was heading in twelve different directions and never could finish the product for launch.

So how do you measure focus if you don’t work for a company?  Read the website.  Look for a consistent message in the content.  Read the press releases and news articles from the earliest to the most recent to see if you can follow the focus of the company.  Do they have a core product that they focus on?  Have they released or talked about releasing several products in a short period of time?  If this is a brand new company, review the products they have launched.  Do they have a core competency that they do very well, or does the product have so many features that it looks like it is trying to be all things to all people? 

You should also evaluate focus in interviews.  Bring a notebook to track responses you get from different interviewers about the company strategy and products.  Do they all say the same thing?  Is the vision clear, or does everyone have a different idea about what the company is going to do?  If the core message and strategy isn’t known, the company could be headed for trouble in the future.

Timing
Market timing is critical for startups, but the difficulty is that there is no set rule for measuring timing.  Being first to market does not guarantee success.  Being the last one to the party does not guarantee failure. 

When researching a startup, know what their timing is in the market they are pursuing.  If they are first or one of the first, they have the advantage of getting out their name and getting recognition.  But they also have the disadvantage of not being able to learn from the mistakes of others.  Evaluate how they are handling being a first mover.  Do they continue to lead and innovate, or are new competitors capitalizing on their mistakes and taking market share?

If they are late to market, they have to overcome a field of competitors that is already known and entrenched.  A late mover can certainly succeed, but make sure they have a competitive advantage that will clearly let them overcome the established leaders.  Have they learned from the mistakes of earlier entrants to the market and developed a superior product or service based on the shortcomings of other players?

They Just Win

There are some people in this world who just know how to win.  They aren’t always the smartest, they don’t have the best strategy, they don’t have to be the most athletic, but somehow they find a way to win every time.  Athletes like Joe Montana, Tom Brady, Bill Russell, and Michael Jordan are easy to identify as figures who just know how to win.  It is harder to identify those people in a business setting.

Evaluating the history of the executive team is an obvious place to start.  You can research the founders and quickly determine if they have a winning track record.  That doesn’t guarantee future success, but it does indicate a higher likelihood of future success.  When looking at track record, don’t just look at the success of their past companies.  Look at who funded their past startups.  If 2-3 of their past startups were funded by the same people, it shows the investors have confidence that this person can do it again.  They identify the entrepreneur with the past successes and don’t view the companies as succeeding in spite of that person running them.

And don’t stop at past business success.  What else has this person done in their life that shows they can accomplish anything?  Are they fiercely competitive in other areas?  Have they held leadership roles outside of the business world?  Look for those key personal attributes that make someone a winner.

A Hot Streak
The Colorado Rockies won 21 out of 22 games to reach the World Series this year.  Unlikely to make the playoffs just three weeks before the end of the regular season, they went on an unprecedented streak to reach the World Series.  How did they do it?  Various sports analysts have opinions on that, but in the end they really just caught a hot streak where everything was clicking for the team.

This is a much tougher item to gauge, but sometimes companies just catch a hot streak too.  Facebook would qualify as one of those companies right now.  I don’t think I can go a day without seeing at least a dozen articles about them.  There are many other social networking websites and many that started with a focus on the university community as well.  How did Facebook catch fire like they did?  While I’m sure many an MBA will write papers analyzing this rise to the top, part of their explosive growth was gathering momentum that just kept going.  Many factors clicked at the right time, and they took off.

Other startups hit hot streaks too.  They don’t have the best product.  They don’t have the slickest marketing.  But conditions just gel at the right time for various reasons, and the company sees significant growth.  Identifying some of these prospects can help identify potential winning startups.

There is a danger here though.  Sometimes hot streaks are just that.  Streaks.  They end and the company doesn’t succeed in the long run.  Napster, Friendster, and Jib-Jab are examples of companies that went on hot streaks that eventually cooled off.  These companies may well succeed in the end, but their meteoric rise did not continue as it has with Facebook.  And in the end, the Colorado Rockies were swept in the World Series.

Superior Technology
The last area I’ll address involves technology.  Does the company have a technology that appears so superior that others will have a difficult time competing?  You have to have some knowledge of your chosen industry to effectively evaluate this one.  The Google algorithm gave superior search results.   Netscape had a browser that had a successful run until Microsoft could replicate it.  Amgen created novel drugs critical for treatment of cancer patients.

But technology doesn’t guarantee success either.  Apple arguably has a superior operating system to Windows, but they will likely never overtake Microsoft.  You also want to make sure the company isn’t using a canon to kill a mouse.  The technology might be superior, but is the application overkill in terms of cost and functionality for the level of problem it addresses in the market?  A Segway transportation device seems really cool and innovative, but how many people are going to spend a few thousand dollars to use one instead of walking or riding a bike or motor scooter?

Closing
Remember that even venture capital firms only pick winners 10-20% of the time.  If your primary motivation in working for a startup is to hit a home run, then you will likely be quite unhappy.  You should have a passion for the startup community and be prepared to kiss a lot of frogs before you find a winner.  You can have a lot of fun along the way and learn a great deal about what does and doesn’t work when starting a company.  No strategy guarantees you will pick a winning startup, but you can take steps to mitigate your risk of picking a loser.

About Jeremy McCarthy
Jeremy conceived and co-founded VentureLoop in 2000 to create a unique
network of jobs, news and resources for the venture capital community
and their portfolio of startup companies. His vision for connecting
talent with startups is driven by passion for venture capital and its
importance to the world’s economic engine. Jeremy began his career at
PricewaterhouseCoopers, where he worked with venture capital firms,
startup companies, SEC filings, mergers and acquisitions, and IPOs.
After a brief stint as COO of Aspen Plan Services, a retirement plan
consulting firm catering to the venture-backed community, he moved on
to a Recruiting Manager position with Management Solutions (purchased
by TMP Monster). Jeremy then ran a small recruiting and consulting
firm, Jeremy McCarthy & Associates, until creating the VentureLoop
idea.  He has his B.S. in Accounting from Santa Clara University, where he was named Outstanding Accounting Student of the Year.

How to Pick a Winning Startup: Part I in a Series; The Gambler

Thursday, October 18th, 2007

by Jeremy McCarthy, CEO, VentureLoop

You have just interview with two exciting companies.  Company number one was founded by a couple of PhD students with limited work experience and no real startup company success.  Company number two is well-funded, and they just landed a CEO from one of the most successful consulting companies in the world.  Company One is targeting a market already dominated by a couple of monster players.  Company Two is basically leading their market and expanding rapidly.  Which offer do you take?

If you took an offer from Company One, you’re probably reading this article from your beach house in Maui since you were one of the first Google employees and worth many millions of dollars now.  If you took an offer from Company Two, you are still to this day feeling burned that you didn’t see the imminent crash of Webvan.

Many of you feel a real challenge to identify the winning startup that will make it big and create financial stability for you along the way.  How can it be done?  What should you look for?  How can you end up with the beach house in Maui instead of ten Webvan delivery cartons to store stuff in your garage?

Vegas, Baby, Vegas
The best way to select a startup is to first begin thinking like a professional gambler.  No, I’m not talking about how most of us go to Vegas and imagine we’re professional gamblers who are making savvy and intelligent betting decisions.  We get a vibe for the right slot machine that pays off a million dollars.  Catch a hot streak at the craps tables.  Bluff our way to winning a poker tournament.  That’s the dream, but we usually go home with less money than when we arrived.

Professional gamblers calculate odds.  They do research.  They look for trends.  In short, they do everything possible to find an edge in selecting a winner.  For example, normally the Miami Dolphins with a 4-8 record would be a huge underdog to the New England Patriots at 10-2.  But the professional gambler knows that the Patriots are 1-5 against the point spread on the road, with Tom Brady at quarterback, in day games, in December, against AFC teams.  Sure, the Dolphins could still lose the game against the point spread, but the professional gambler has accumulated a significant amount of relevant information, analyzed trends, and looked at market timing, to make a decision that is educated and accounts for the odds.  (Note to non-gamblers: a point spread is defined here)

Venture Capitalists are the professional gamblers of the startup world.  Venture Capitalists know the players (entrepreneurs), track market trends, and do competitive analysis.  But they also have more control than professional gamblers.  VCs can actually step in and find a better quarterback for the Miami Dolphins before the big game or merge them with the New York Jets to field a team with the best possible players on the field.  They could also be friends with running back Barry Sanders and know he’s ready to come back into the NFL.  So they bet money on the Dolphins and add a superstar to the team that will make for a winning season. 

Bet Like a Venture Capitalist
When selecting a startup company, begin with where the professional gamblers are putting their money.  Who are some of the top venture or angel investors putting their money on?  While this is certainly not a guarantee, it is one factor that can mitigate your risk in selecting a winning startup company.  Sure, you could still end up at Webvan, but watching where the professionals are putting their money is the first place to start in evaluating a startup opportunity.  In Vegas, you rarely know where the professional gamblers are putting their money.  In the startup world, you know 90% of the time who the professional gamblers are betting on.  If you see a trend in a particular area, then it’s time to take the next step in your startup evaluation process.

Remember, Google and Webvan had some of the same investors, so we’ve only just begun our evaluation.

Tune in next week for Part II…

Working with an Outside Recruiter: The Good, the Bad and the Ugly

Thursday, October 11th, 2007

by Jeremy McCarthy, CEO, VentureLoop

When you decide to get into job search mode, whether or not
to work with an outside recruiter can be an important decision. Do they help your chances? Do they hurt your chances? How do you find a good one?

The Basics
Contrary to popular belief, recruiters do not help you find
jobs. Recruiters are paid by their
corporate clients to find candidates, and they work for those corporate clients. That means that right out of the gate you
need to adjust your expectations and realize that recruiters are not there to
help you find a job, and you should never expect them to act that way. If you run across a recruiter who offers to
help you find a job for a fee, run the other way. Fast.

Now that doesn’t mean recruiters aren’t nice people who can
be very helpful with your job search. Many recruiters are networked into great opportunities and can expose
you to jobs you would have difficulty finding on your own. But the sooner you understand that recruiters
do not exist to help you find a job, the happier you will be with the
experience of working with them.

Types of Recruiters
Outside recruiters generally fall into three categories: Contingency, Retained/Contained, and
Temp/Contractor
. Contingency means that the recruiter
only gets paid by a company once the company hires a candidate. Fees for this service generally run 15-30% of
the candidate’s salary. Contingency recruiters
generally work on mid-level to high-level positions, and multiple recruiting
firms can work on the same position. Retained/Contained recruiters get paid a
retainer to work on a search for a company. They are generally entitled to keep this retainer regardless of success
on the search, and they get an exclusive right to work on the opening. They tend to work on senior management and
C-level (CEO, CIO, COO, etc.) positions or those that are extremely difficult
to fill. Fees can run from 25-40% of a
candidate’s compensation and often run over $100,000 for a single search. Temp/Contractor
recruiters recruit candidates for temporary positions or for short and
long-term contracts. Many of these are
“temp-to-perm” opportunities where the person might be given an offer for
employment after some time on contract. The level of job a Temp/Contractor recruiter works on varies widely from
administrative to even C-level roles.

The Good
Working with outside recruiters can gain you access to jobs
that you wouldn’t know about otherwise. Many companies do not advertise some of their jobs and work with
recruiters to help them fill the positions. Sometimes openings are also confidential, and only the recruiter knows
they exist. If you are a passive
candidate, a recruiter can also be helpful in filtering opportunities to you. They can keep an eye open for certain
positions, so you don’t have to spend your valuable time searching on your own.

Recruiters can also be very good at helping you understand
the market for compensation and helping in the negotiation phase. They work with job openings every day, and
they have an insight into the market that most outsiders do not have. Utilizing them as an independent negotiator
for your offer can also help diffuse any hard feelings that might come out of a
difficult and prolonged negotiation.

The Bad
Sometimes recruiters can actually hurt your chances of
landing a position. Because of the fees
charged by a recruiting firm, a company might be hesitant to pursue you for a
position in order to avoid paying a large fee. If you hook up with a few bad recruiters, they often spread your resume
across the board and give you a reputation of being unfocused and desperate to
find work. I have seen situations where
the same candidate was presented by four different recruiting firms. That does not look good. A very small percentage of all jobs are
actually filled by outside recruiters. You should not plan to use a recruiting firm as your only resource in a
job search. 

The Ugly
There are a lot of bad recruiters and recruiting firms out
there. The “headhunter” reputation does
not come without merit. Recruiters can
make a lot of money placing people in companies, and the barrier to entry for
being a recruiter is very low. That
means some unscrupulous people focused on making money are attracted to the
recruiting industry, and they care more about closing the deal than making a
good match. Unfortunately, they often
misrepresent facts in order to place a candidate in a job, and you end up being
hurt in the end. 

So should I use a
recruiter?

The answer is, it depends. How’s that for advice? If you are
a more junior level candidate, then you would be best served working with a
temp firm recruiter if you are out of work and looking for other
opportunities. Companies rarely pay
contingency or retained/contained recruiters to fill more junior level
positions. As a mid-level candidate, it
makes sense to work with one or two select recruiters that specialize in your
field and have a solid reputation. But
only do that if you’re serious about actively pursuing a new position. You will turn off recruiters if you are
kicking tires and not ready to pursue a good opportunity should it be
presented. Executive level candidates
should always be developing relationships with retained/contained
recruiters. Most C-level jobs are not
advertised publicly and may only be accessible through a retained search
firm. Having a relationship with a few
retained search firms can give you valuable access to positions that open up in
top management. 

Finding a Recruiter
The best way to find a good recruiter is to network. And look for a good individual recruiter, not
just a good recruiting firm. There are
good and bad recruiters in every recruiting firm, so you will want to find one
with whom you are comfortable. Where do
they hang out? Well, the good ones
attend just about every networking event on the planet. Get out and meet them at networking events
while you are networking with others in your job search. Research their backgrounds online and see if anyone has written negatively about them.  You should also ask people in your industry
who they use or recommend. Ask who they
might have used for their own search or who they use to find people for hire their
organization. 

How to work with a
recruiter

It is important that you define the relationship up
front. Let them that you do not want
them to send your resume to a company without your prior permission. Give them detailed, written information about
what you are interested in. Take the
time to meet with them and let them interview you to find out your strengths
and interests. Listen to their advice on
resume structure and interview techniques. Don’t expect to get a call every week with a job opportunity. Good recruiters will only call you with the
right opportunities, and those don’t surface on a daily basis. And feel free to sever your relationship with
them if they consistently send jobs to you that don’t match your interest, or
if they are not completely honest with you about a job.

About Jeremy McCarthy
Jeremy conceived and co-founded VentureLoop in 2000 to create a unique
network of jobs, news and resources for the venture capital community
and their portfolio of startup companies. His vision for connecting
talent with startups is driven by passion for venture capital and its
importance to the world’s economic engine. Jeremy began his career at
PricewaterhouseCoopers, where he worked with venture capital firms,
startup companies, SEC filings, mergers and acquisitions, and IPOs.
After a brief stint as COO of Aspen Plan Services, a retirement plan
consulting firm catering to the venture-backed community, he moved on
to a Recruiting Manager position with Management Solutions (purchased
by TMP Monster). Jeremy then ran a small recruiting and consulting
firm, Jeremy McCarthy & Associates, until creating the VentureLoop
idea.

He has his B.S. in Accounting from Santa Clara University, where he was named Outstanding Accounting Student of the Year.

How to Marry a Startup

Thursday, September 27th, 2007

by Jeremy McCarthy

So you want to work at a startup company, but you just don’t know how to approach the task.  You don’t just want a job.  You want to marry the startup of your dreams and live happily-ever-after.

Finding a startup job and finding a spouse have many similarities.  And the approach taken to find a startup job or a spouse will depend on the individual.

What am I looking for?  The girl-next-door?  Tall, dark and handsome?  Supermodel?  An athlete?  Before you even start searching for that ideal startup, it is important to understand just what it is you are trying to find.  Do you like high tech or biotech?  Something still in the garage or on its fourth round of funding?  Breakneck speed or a comfortable jog?  Define what you are targeting so that you can focus your efforts in the right places and be happy with your choice.  But remember to be open.  You might go looking for a supermodel but realize that you’re actually in love with the girl-next-door.

Be prepared.  No, this does not mean a trip to the corner drugstore.  Prepare yourself mentally and physically.  When looking for a mate, you don’t just decide what you want and “get out there” to start looking.  A more effective way is to prepare yourself.  You get a haircut, get some new clothes and shoes, make friends aware you are actively “on the market” again, and formulate a strategy.  The same goes for a startup search.  Get your resume in order.  Make friends aware that you are “on the market” again, and let them know what you are looking for.  Prepare yourself to change your habits and schedule to maximize your chance of finding your startup mate.  Document your strategy and execute on it.

Where to look.  You know what you’re looking for, and you are prepared and ready to rumble.  So where do you find your true love?  On the Internet?  Through friends?  The local club scene?  Your job search offers similar options: job boards, referrals, job fairs, and recruiters.  If you’re looking to marry a nice Jewish gal, you don’t go to CatholicSingles.com.  Which means you don’t go to Monster.com to find jobs at startup companies either.  Find the niche sites that have exactly what you want.  Maybe that site is right under your nose.  (insert shameless VentureLoop plug here)

Our friends can do a pretty good job of matching us up with potential mates as well, because they know us and what we like.  But sometimes they just want to get two single friends together and there’s really not a spark.  Use referrals to find job leads, but remember to do your own due diligence. 

You can also find fleeting romance at a club or bar, but rarely do those result in meaningful relationships.  These are like job fairs.  A big meet market where everyone is there to check out as many people as possible, but rarely do you meet that special company for a lasting relationship. 

And don’t forget recruiters.  Recruiters are really paid matchmakers for companies, not for candidates.  They can find some great targeted mates for their corporate clients, but just bear in mind that the startup pays their bills.  Recruiters do not survive by finding jobs for candidates.

The Approach.  When you start to look for your mate, it’s usually not a good idea to sign up for seven different online dating sites, talk non-stop to your friends about finding the right person, go to clubs four nights a week scoping out prospects, and moping around saying no one wants to marry you.  You don’t want to do that in your startup search either.  Target your approach, and don’t make your job search your life.  Just like finding a spouse, it usually happens when you’re not trying so hard.  You expose yourself to the right opportunities, but you don’t let it dominate your life.  Getting your resume posted on ten job boards, applying to 25 jobs each week, constantly nagging friends for job leads, and complaining that you’ll never find the right job is the wrong approach.  Live your life, create opportunities to be exposed to the right kind of startup companies, and relax. 

Research. When you meet someone, you like to find out as much about them as you can before going alone on a date.  Especially if you were not introduced to them by someone you know.  You research them.  Look at their online profiles.  Make sure they’re not on the FBI Most Wanted list and do a little bit of snooping around to both protect yourself and to make sure that they are what they claim to be.  He said he went to Stanford, but his Facebook profile says University of Phoenix.  Her Match.com profile says she loves animals, but a co-worker swears she’s a crazy cat lady.  You should do the same for your startup search.  Read articles about them.  Research the management team.  Talk to people who know the company.  This is a life altering decision, so do your homework.

Dating.  You found a great prospect.  He asked you out.  And now you have to see if the chemistry works.  Unfortunately, you don’t have the benefit of dating for several months or years to make a decision about marrying your startup.  Sometimes you only have one date, and they pop the question.  Will you come work for us?  Your interviews may be your only shot to determine whether or not you are a match.  Make the most of your interviews.  Come prepared with the research you did.  You can be blinded by infatuation, so make sure to ask the tough questions.  And do your reference checks on them.  They aren’t the only ones who should be making sure you are what you seem to be.

Follow up.  Don’t call the next day.  Don’t be a stalker.  It’s so hard to keep your cool when you find someone that triggers chemistry.  But you’re not planning to call them tomorrow and leave voicemails every day until they respond, right?  You want to at least seem a little bit unavailable.  You’re not desperate.  You have options.  You are confident and comfortable.  The same holds true with your startup search.  Express interest and follow up, but don’t overwhelm them with emails and phone calls, and don’t hang out in the parking lot to “accidentally” run into the hiring manager.  Startups want to know you’re interested, but they do not want to marry someone who seems desperate.

I just want to be friends.  This one works both ways.  Sometimes they just want to be your friend, and sometimes you just want to be theirs.  And sometimes they are wacky stalker sociopaths, and you will change your phone number and go into witness protection.  But we won’t go there.  So the chemistry isn’t working.  At least not for one of you.  If you saw the relationship going further and they did not, it’s okay to be disappointed.  Handle it like an adult and realize that it just wasn’t meant to be.  The startup of your dreams awaits you around the corner and you just don’t know it yet.  Conversely, you want to let them down easy and professionally if you just want to be friends.  Be honest about your decision but don’t make it personal.  They have invested time and emotion courting you, and you never know when you might run into them again some day. 

Pulling the trigger.  That day has arrived.  You want to marry her.  She wants to say yes.  Be decisive.  You’re in or you’re out.  Startups want someone who can make decisions and move quickly.  “Thinking it over” for several days tells them you aren’t startup material.  But you feel a little nervous.  That’s normal.  If you don’t feel at least a little bit nervous, then you have not grasped the enormity of your decision and what it means to your life.  However, if you can’t commit within 72 hours of getting an offer, something is wrong.  She’s either not the right startup for you, or you haven’t done enough due diligence to gain comfort with your commitment.

Live happily ever after.  Congratulations!  You’ve found the love of your life and look forward to building a wonderful future together.  There will be good times and bad times along the way.  Enjoy the ride, and luck/economy/market space willing, you will live a happy life together and retire early.  And don’t be jealous of the startups your friends have married.  More stock options.  Cooler technology.  Better working conditions.  No marriage is perfect, and your friend’s startup marriage has many issues too.  Focus on your own marriage, and you will be much more successful and happy.

Startup Company Interview Preparation

Thursday, September 20th, 2007

This
list of interview tips was written by Jeremy McCarthy, the CEO of
VentureLoop, who has over 15 years of experience working and recruiting
with the venture capital community and with startups.  While nothing
guarantees a successful interview, the information provided can help
candidates better prepare themselves for success in the interview
process with a startup company.

Purpose – get an offer
The
purpose of any interview is to get an offer.  Even if you have concerns
about the company or job during your interview, make sure you still
interview your best.  You can always say no to an offer when it
arrives.  You can rarely overcome a poor first impression if you later
decide your initial instincts about the position were mistaken.

Research
Go
online and find out as much information as you can about the company
and anyone you will be interviewing with.  Companies are blown away
when you can mention press releases, know their revenue numbers, quote
statistics, know backgrounds of executives, etc.  For startup
companies, you should know who the venture capital investor is, know
which partners sit on their board, and know how much money they have
raised so far.  Many times this information is not available, but some
savvy online searching can turn up valuable information about a company.

Most
companies like to hire people who are experts in their industry, and
startups are no exception.  They have to answer to their investors when
things don’t go well, and executives don’t want to tell their venture
capital investors that they had a poor product launch after hiring a
product manager with no experience in their industry.  Know the
company, know their industry, know their competitors, and use their
product if it is available.   

Rehearse
Most
successful athletes and performers visualize their craft prior to
playing or performing.  Try to visualize your interview and how you
will present yourself and answer questions prior to interviewing.  If
you get nervous during interviews, you might even consider having
someone you know do a mock interview before you go.  The more you
practice, the more comfortable you are, and the less nervous you will
be when the interview arrives.

Cover strengths, weaknesses, etc.
Think
about questions related to where you are in  2 to 5 years, your most
difficult work situation, your most stressful job, your favorite job,
what kind of person you’d like to work for, etc… Sit down and come up
with answers to all of the stereotypical questions that get asked in
interviews.  You don’t want to get caught making something up off the
cuff, only to think later "DOH!  I shouldn’t have said that!"  If they
ask where you see yourself in the next X number of years, let them know
that you are more focused on the current position at this time, but you
would obviously want to be considered for appropriate promotions as you
master this position and show high performance.  And take a few minutes
to write down the questions and answers so that you don’t have to
re-invent the wheel with each interview.

Prepare for Behavioral Questions
Many
companies use an interview technique known as behavioral interviewing.
This method of interviewing asks candidates to give specific examples
of situations they have encountered.  For example, "tell me about a
time you didn’t meet a deadline and how you handled it."  Take time to
go through the questions below and write out examples to keep for
future interviews.  It can be difficult to come up with good examples
to behavioral interview questions on the spot, and you will be far
better served if you can determine good examples in advance.

Work-related examples of:
·    How you handled not meeting a deadline
·    How you dealt with conflict with a co-worker or boss
·    What you did when someone else’s actions caused your project to fail
·    When you have shown initiative
·    What you did when a customer was upset with you
·    A time when a co-worker blamed you for something that was not your fault

Appearance
Remember
to ask ahead of time what the expectation is on your attire.  It is
always preferable to over-dress for an interview unless you know the
company has a strict casual environment.  Make sure you are well
groomed.  If you are a coffee drinker, smoker, or have lunch/breakfast
prior to an interview, be aware of your breath.  Use a mint or brush
your teeth prior to your interview.  Do NOT chew gum during an
interview.  Do not wear perfume/cologne or wear little enough that
someone cannot smell it unless they are closer than one foot from you.
Think about how you appear when you are confident and on top of the
world.  Head high, standing straight and tall, a slight smile,
relaxed. 

Arrival
Arrive
for your interview at least 5 minutes early but no more than 10 minutes
early.  Everyone has their watch set differently, and giving a 5 minute
cushion is a good idea.  Some interviewers are also very time-sensitive
and notice if you’re even one minute late.  However, arriving more than
10 minutes early will often pressure the first interviewer if they are
not ready for you yet.  Plan to arrive 15 to 20 minutes early in the
parking lot and enter the building about 5 minutes early.  If you are
running late or think you might be late, call ahead of your arrival to
let them know.

Introduction
When
introducing yourself to each interviewer, give your first and last
name, make eye contact, and let the interviewer be the person to
initiate a handshake.  When shaking hands, match the pressure of their
handshake.  Do not be limp or unusual with the way you shake hands.
Wait a moment and smile at the interviewer after meeting them.

Presentation
Your
body language tells a lot about you in an interview.  Sit up straight.
Lean slightly forward in your chair.  Keep eye contact with your
interviewer as much as possible (especially be aware of this when you
are the one speaking as many people make eye contact when listening but
not when speaking).  Stay alert.  When you go through a long interview
process, you can sometimes start to show weariness, and startups often
have a high energy culture.  Make sure you project energy and do not
appear tired.  Try to mirror your interviewer’s demeanor and style.  Be
yourself, but let them set the tone of the interview and match their
energy level and body language.  Never swear or use casual words like
"yeah" and "uh-huh".  Even if your interviewer swears and speaks
casually.

Take Notes
Bring
a notepad or portfolio and a pen to take notes during each interview.
This is a very effective way to show your interest in the opportunity
and your attention to detail. 

Biggest challenges?   Where can I contribute?
Ask
each interviewer what the biggest challenges of the position are at the
beginning of the interview.  Write down what they tell you and focus on
how you can overcome those challenges with your skills and background
during each interview.  This question basically gets the interviewer to
tell you what their hot buttons are, and each person will have
different hot buttons for the same position.  Also, focus on how you
can help them, not on what the company has to offer you.  Where can you
contribute to their company, team or project?

Forbidden topics – money, benefits, office tour, overtime
Never
bring up money on your first interview.  If they ask what you’re
making, be honest but tell them that you feel it’s probably premature
to talk money at this point and, besides, you’re interested in
evaluating the entire opportunity rather than the salary alone.  Let
them know that you’re confident that you both can work out a fair offer
if you are both interested in moving forward.  Don’t ask about benefits
info or to take an office tour.  Those things will come at a later
time.  And never ever ever bring up overtime.  Even in a positive way.
The interviewer will almost always remember that overtime was discussed
during the interview, and they will perceive it negatively, regardless
of how you positioned it.  If you want to express that you work hard
and long hours, let them know that you do whatever it takes to get the
job done and that you are quite familiar with startup culture and
expectations.

Want, not Need
Companies
don’t like to hire people who seem desperate.  Interview with a
confident style that shows you want the job, but don’t give the
impression that you need the job.  Even if you desperately need the
job.  If you have been out of work for awhile and have been getting a
lot rejections, inevitably an interviewer will ask you what your
interviewing experience has been the past few months.  Let them know
you are having a very positive experience evaluating companies and
opportunities.  Tell them you are being selective in your interviewing
process to find the right opportunity for yourself.

Laid off or Fired
It
is always awkward to let an interviewer know why you left your last job
if you were laid off or especially if you were terminated for cause.
Never lie when asked.  While it might be unfair, many hiring managers
assume the poorest performers are cut when layoffs occur.  Be prepared
to answer your layoff question with information that will dispel any
assumption someone might have about cutting the poor performers.  Try
to show that there was a specific business reason behind your layoff.
Your department was eliminated.  The office was moved.  The product you
supported was being discontinued, etc.

Being terminated for
cause is always difficult to answer.  Never use the word "fired" when
describing your situation and instead use a softer term like "let go".
Do not go into great detail about the circumstances and do not express
anger, blame, or a grudge.  Speak with confidence when discussing the
situation and do not appear meek or apologetic.  Look the person in the
eye the entire time you are discussing what happened.  If possible,
offer a reference at the company who will give you a solid reference
about performance.  If you can’t get a reference at the company that
terminated you, find a reference at a previous company that will give a
reference to help show you are a solid performer and offer up that
information at the time of discussing your termination with the
interviewer.  If you show that you are uncomfortable and lack
confidence when discussing this subject, you will give an interviewer
the impression that there is little doubt the last company made the
right decision.

Close – Any concerns about ability to do job?  Next step?
These are the two MOST important questions in each interview you have. You should ask them of each individual interviewer. 

1. 
Do you have any concerns about my ability to do this job? – This is
your last chance to make sure you didn’t leave out anything in your
background or incorrectly communicate anything during the interview.
Once you leave the interview, it’s almost impossible to change
someone’s incorrect impression.  Be direct and try to get a sincere
response from the individual.

2.  I’m very excited about this
opportunity.  What’s our next step? – This might very well be the
deciding factor in getting an offer.  Even if you have reservations,
express to each interviewer that you are definitely interested in the
position and want to know what you need to do next to keep the process
moving.  And make sure that you actually SAY it in words at the end of
the interview.  Don’t assume that they should have noticed your
enthusiasm and interest level from the rest of your comments during the
interviewing process.  Trust me.  They didn’t.  On numerous occasions I
have seen a less qualified candidate get the job over a more qualified
candidate based almost entirely on their perceived interest level in
the position.

Follow up
Always
follow up with a company after you interview within 24 hours.  In this
electronic age, it is appropriate to send an email to each person who
interviewed you if you have their email address.  If you do not have
everyone’s email address, you can ask for their email addresses from
someone whose email you do have.  If you really want to impress
someone, send a written thank you card.  It is rare that people send
written thank you cards today, and it will make you stand out as
someone who took the extra time to do it.  Thank the interviewer for
his or her time, re-iterate your interest in the opportunity, and
mention one area from your notes that answers the interviewers hot
button area (you did ask them what the biggest challenges of this
position are during the interview, right?).

Basic Startup Resume Construction

Thursday, September 13th, 2007

by Jeremy McCarthy, Loop One
VentureLoop

This list of startup resume tips was written by Jeremy McCarthy, the CEO of VentureLoop, who has over 15 years of experience working and recruiting with the venture capital community and with startups.  This is only for guidance as there are many effective ways to write a compelling resume. 

Length
•    Try to keep your resume a maximum of two pages long.  Three is acceptable, but try to be concise and keep it to two pages.

Font
•    Use basic fonts like Arial or Times New Roman.  Don’t try to get fancy or unique.
•    Font size should be either 10 point or 12 point.

Objective
•    I do not advise using an “Objective” on your resume.  Many hiring managers and human resources individuals use this more often to screen people out.  If you do use an objective, make it specific to the exact job and company you are pursuing and avoid generic objectives. 

No Third Person
•    Do not refer to yourself in the third person.  This is a document prepared by you, for you.  Many hiring managers find it odd that people write about themselves in the third person and will be turned off by that style.

Chronological, Not Functional
This might be an area of controversy for many of you.  A chronological resume is considered standard and lists each employer in chronological order and then lists positions in each company along with accomplishments in those positions.  A functional resume organizes by functional expertise and does not necessarily relate accomplishments to a specific job at a specific company.  For example, a heading of “Management Experience” would outline all management experience without giving reference to specific companies where that management experience took place.

While functional resumes are pushed by many so-called experts in the field, I have heard too many hiring managers criticize their structure to recommend using them.  Put yourself in the hiring manager’s position.  If you read a resume that describes someone’s experience managing a team of product managers without associating it with a company or position, you may be left to guess whether the candidate had that experience at Oracle or at a failed startup eight years ago.  There is also a big difference between having SEC experience at a large, complex organization, as compared to a small company with limited issues.  A list of SEC experience on a resume without associating it to a specific company can be meaningless to a hiring manager. 

Giving context to experience is very important to most hiring managers.  Forcing them to put together a puzzle of where your experience took place and in which job will quickly agitate many who have very little time to review resumes, let alone solve puzzles.

Basic Structure
•    List your company name and location, and include dates of employment.  List employment in chronological order.
•    Give a brief one or two sentence description of your company under each place of employment (e.g. A 50-person enterprise software company backed by XYZ Venture Capital with several Fortune-500 customers.).  Many employers will not know anything about your past companies, and this will help give them perspective.
•    Do not list multiple jobs at the same company in a manner that makes it look like they are separate positions with separate companies. 

Example:
YES:
XYZ Company (5/04 – Present)
Director of Engineering (5/06 – Present)
•    Accomplishment
•    Accomplishment
•    Success story

Senior Engineer (5/04 – 4/06)
•    Accomplishment
•    Accomplishment
•    Success story

NO:
XYZ Company
Director of Engineering (5/06 – Present)
•    Accomplishment
•    Accomplishment
•    Success story

XYZ Company
Senior Engineer (5/04 – 4/06)
•    Accomplishment
•    Accomplishment
•    Success story

Most internal recruiters or hiring managers review hundreds of resumes, and they have very limited time for an initial scan of each resume.  Listing different positions in the same company in a manner that makes it look like they were at different companies can give a quick impression that you jumped around a lot in your career, which is not the case.

•    Use bullet points to outline your accomplishments under each job listed.  Do not write in paragraph format, as the hiring manager will get lost in the details.
•    Focus on accomplishments, not responsibilities.  Quantify any areas where you have generated revenue, saved time, or saved money.  Mention any awards, unique accomplishments, or how you stood out from your peers.  Most candidates list only their prior responsibilities, and focusing on your accomplishments will make you stand out from your competition.
•    List your educational background.  Do not include your GPA unless you are a recent graduate.  Include any scholarships or awards.
•    List any unique interests/hobbies, awards, and certifications

Read the Job Description
This might sound obvious, but it is very important that you read the details of every job description and tailor your resume to the specific job.  Many times companies have a junior person or HR individual review resumes as a first screening, and they may not be very familiar with identifying specific requirements for the job.  Those screeners are normally looking for key words and directly related experience in a resume, so you had better make sure your resume reflects your experience in areas listed in the job description.  If the description asks for experience developing “enterprise software” then you should spell it out if you have that experience.  Don’t assume that a screener will know your last company’s product was considered “enterprise software”. 

Things to Avoid
•    Do not include any personal information, such as age, race, nationality, family, photo, weight, etc.
•    Do not disclose salary history
•    No unusual colors or designs for your printed resume.  Use plain white or off-white paper when bringing copies of your resume to an interview.
•    No references listed.
•    Be honest!  Do not put untrue or misleading information on your resume.

The Startup Edge
So what are startups really looking for, and how can you tailor your resume to increase the likelihood that they will select your resume?  Here are some suggestions:
•    Startup experience.  Working for a startup company is different than working for a larger company, and startup veterans know that people who haven’t lived that difference often don’t survive a startup.  Hiring managers want to see that a candidate has intimate knowledge of what to expect when working with a startup: long hours, limited resources, self-starter mentality, proactive, wearing many hats, and a lack of or changing direction of the company.  If you don’t have startup experience, you should highlight as much similar experience as possible on your resume.  Any startup business plans you worked on, pro-bono consulting to a friend’s startup, clients who were startups, school projects with startups, etc.
•    Drive.  No one has time to manage people in a startup culture, and the organizational structure is flat.  Startups look for people who have drive, ambition, and are self-motivated.  Focus on any accomplishments that demonstrate this trait.  That includes personal accomplishments unrelated to work,  such as running marathons, raising money for a charity, playing sports at a collegiate level, honors or awards.  Show that you have taken initiative and that you don’t just follow the direction of others.
•    Flexibility.  Startup employees must have the ability to wear many hats and to chase a moving target.  “Stability” is not a good description for startups, and hiring managers know that people who thrive on stability become quickly frustrated in a startup environment.  Communicate in your resume the experiences you have with constantly changing strategies and plans, and show that you are comfortable filling more than one role within a company when the circumstances require it.  Give examples of situations that demonstrate your ability to be flexible and pitch in when needed.