How to Operate with Keith Rabois (How to Start a Startup 2014: Lecture 14)

Summary

The CEO's main role is to maximize the output of the organization and build a high-performance machine that runs smoothly without constant intervention. The CEO should ensure that the company is moving in the right direction and cope with the challenges of working with irrational people. The ultimate goal is to build a company that can be run by anyone. The CEO's day-to-day responsibilities include measuring the output of teams, focusing on progress, and triaging between minor and potentially fatal issues. The CEO should simplify and clarify the company's goals, ask clarifying questions, and eliminate unnecessary details. The CEO should allocate resources and make strategic decisions, either through a top-down or bottom-up approach. The CEO should maintain a consistent voice throughout the company's communications and materials. The CEO should hire the right people, identify "barrels" who can take an idea from conception to shipping, and expand employees' responsibilities until it breaks. The CEO should track employees' learning curves and the company's growth rate, promote individuals who are sought out by others for help, and delegate decisions based on consequences and conviction. The CEO should explain decisions to junior colleagues and avoid burning social capital. The CEO should make decisions, avoid over-persuasion, and allow team members to pursue their ideas. The CEO should prioritize and edit the team for maximum success. The CEO should set clear objectives, measure metrics, look for anomalies, and pay attention to details. The CEO should remove distractions, provide tools for success, and create a high-performance team. The CEO should create a strong company culture, prioritize resources, and focus on creating a high-quality office environment. The CEO should promote managers based on individual performance, conduct one-on-one meetings, and optimize time allocation. The CEO should recruit, provide customer support, and cross-train executives. The CEO should communicate with the team, prioritize recruiting, and conduct a calendar audit. The CEO should allocate time and resources effectively, raise money, and establish a culture of attention to detail.

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