What Defines Progress? What Attitude And Culture Do You Want Around This?

hese. If they're reporting on up-and-to-the-right metrics, these will turn into corporate presentations, where the teams feel they are "reporting to their boss," only sharing the good news, and leaving out more ambitious goals to show they're acheiving their targets.

If you're looking for founders to make frequent course-corrections, for example, it makes sense to ask them to report on learning goals. A metrics focus tends to lead to optimisation activities, whereas learning goals keep the focus on fundamentals.

So it's worth considering what truly defines progress - is it traction? learning? growth? - so your questioning and reporting mechanisms instil the desired culture.

You'll notice the culture will form fairly quickly as the cohort coalesces. There are some ways to influence this:

  1. To some degree, this will be driven by a few alpha founders. Be wary of strong personalities that oppose your ideals during selection - they can counter-act your desired attitudes across the cohort.
  2. Plant seeds in terms of story-telling and hero worship. Ask in founders for dinner to share their war stories. Ask them to be inclusive - welcoming the cohort to their club. Read biographies of founders you'd like to see emulated - and tell "did you know?" stories. Print posters with startup advice, or even imgur memes if appropriate. Get strong quotes printed as vinyl decals for you wall - like in museums.
  3. Be sensitive to your own behaviour, especially in the first few weeks of the programme. It's worth being clear and direct in terms of expectations from the outset. My typical advice is, "You're all expected to multiply your valuation by 5 or more in the next 90 days. This means you'll have to aim for big leaps and learnng every week - if you're stuck on something for 2 weeks, you're probably a goner. You'll have to get rid of lead times, like waiting for customers or advisors to reply - put the programme to work by asking for the connections you'll need. And you'll be expected to support each other, spot when another startup is stuck and dislodge them." If you catch yourself reprimanding or commanding teams, you'll risk ending up with a primary-school dynamic with your teams, rather than a one that emphasises taking responsibility and being open.