I was reading Mark Suster’s Both Sides of the Table about how Seriously came to be funded.

It’s a good read, as most of them are, but towards the end he says something that is both a fact and a fault in funding.

So I hope that offers you insights into how companies move through the VC system. Intros. Vision. Domain Knowledge. Clear path to execution. Ability to build without a massive budget. Execute.

The bold emphasis on ‘intros’ is mine, because they are why many valid, worthwhile, game-changing startups will not get funding.

No matter how brilliant, the founders are outsiders and/or don’t fit the accepted profile.

In short, they don’t fit investor bias.

But mostly, they don’t have the connections who are able to pick up the phone and evangelize to someone like Suster.

All of which means that the pool of fundable startups keeps shrinking.

Flickr image credit: Andrew Basterfield

Post from Leadership Turn Image credit: kikashi

Turnover is enormously expensive but turnover rarely stems from salary issues; high salaries won’t buy a strong, motivated workforce and money certainly doesn’t buy loyalty.

I’ve yet to see it fail that when people join a company mainly for the money (in whatever form) they will quickly leave for more money.

So why do people stay? What motivates them to higher levels of productivity and turns them from company employees to company evangelists?

The answer is simple.

Most of us humans have the same top four desires—although not necessarily in the same order,

• To be treated fairly.
• To make a difference.
• To matter [to boss and colleagues].
• To find a home where we can continue growing.

Yesterday, Ken Meador mentioned that average tenure is 11 years—that that can only happen because these desires are being satisfied.

How do you satisfy these desires?

Your comments—priceless

Don’t miss a post, subscribe via RSS or EMAIL