At Khosla Ventures, we offer real targeted help to entrepreneurs. As part of that, we have a set of standard operating procedures that will guide you in building a lasting company.
Successful startups seldom follow their original plans. The early team not only determines how the usual risks are handled but also evolves the plans to better utilize their opportunities and to address and redefine their risks continuously. One quantifiable, teachable and actionable hiring method for developing the optimal mix of team member backgrounds and maximizing the probability of success is “gene pool engineering.” The goal is to create a culture where multiple people engage in problem solving, and team members share best practices from previous organizations and a diverse set of backgrounds for the specific problems being addressed.
Team 360 reviews provide CEOs with valuable developmental and evaluative feedback. The process involves interviewing key stakeholders to better understand the pulse of the company and address issues inside and outside the organization.
If/then scenario planning will help you better understand how to manage your company’s spend and ensure capital efficiency in order to achieve success. Ask yourself what bad things could happen and what would your countermeasures be?
Understand and quantify your company’s major risks and know what you have to prove to get your product to market. This standard operating procedure will guide you on how to identify technical risk areas and failure modes by component, assign initial absolute levels to each risk, lay out a milestone schedule, assess risk reduction upon milestone completion and track risk reduction relative to time and expenditures to show progress.
RIFLE is a decision making framework that helps improve targeting by quantifying otherwise non-quantified decisions. If you have a technology, what market should you apply it to? Should you sell to international or domestic markets? Big or small customers? What channels make the most sense for sales? RILFE can help you be more rigorous and inspire a more effective way for you to make decisions at your company.
Learn how to develop an effective fundraising pitch deck and tell your company’s story with emotion. We’ll guide you through developing your company narrative and what the VC thought process is while making an investment, not to mention basic tips and tricks, in addition to what works and what doesn’t in fundraising decks.
So, you’re trying to raise money. Here’s a guide for thinking about the kind of information you’ll need to craft a narrative about your company. Depending on your stage of growth, you may want to focus on different elements of this checklist. This is meant as a general guide, not a prescriptive template.