20VC: How To Upscale Management Teams Effectively, When Should The CEO Play The Role of "Lifeguard" & What Role Does The Board Play In The Team Upscaling with Matt Straz, Founder & CEO @ Namely

Matt Straz is the Founder & CEO @ Namely, the leading HR platform for mid-sized companies. Since founding Namely, Matt has grown Namely to over 1,000 clients, 150,000 users, and has raised $158M from the likes of Sequoia Capital, True Ventures, Matrix and Bullpen, just to name a few. Prior to Namely, Matt was co-founder of Pictela, an ad tech company he sold to AOL in 2010, and a long-time media and advertising executive. Due to this success, Matt has been named one of the 100 most intriguing entrepreneurs by Goldman Sachs. In Today’s Episode You Will Learn: 1.) How Matt made his first forays into the world of tech and startups and the a-ha moment for the founding of Namely? 2.) When does one go from a world-class startup team to a world-class leadership team? How did Matt go about making this transition? What were the core challenges? Does Matt agree with Chris Caren in saying, "you should look to individuals with 3-4 years of runway"? 3.) When upscaling, how does Matt think about internal promotion vs external hire? What is the right way to communicate that to the current team? Where do most managers go wrong in expectation setting with their team? 4.) What role does the board play in the upscaling of management? What process takes place for new senior hires to be made? How does Matt look to balance the challenge of negotiating with the current team and the board on new hires? 5.) Why was Matt wrong in his initial response this year for Namely's need to reset their Mission, Vision and Values (MMV)? When must all companies look to revisit this? How does Matt look to balance the immediacy of today with product roadmap and vision of tomorrow? Items Mentioned In Today’s Show: Matt’s Fave Book: 438 Days As always you can follow Harry, Matt and The Twenty Minute VC on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. Namely is the all-in-one HR, payroll, and benefits platform your employees will love to use. It’s as intuitive as social media, but powerful enough to support the complexity of today’s workforce. Namely’s mission is to help mid-sized companies build a better workplace. See how Namely can transform your workplace at www.Namely.com. Eero is the world’s best-reviewed wifi. A system of eero and eero Beacons wirelessly connects to blanket your home in fast, reliable WiFi, so despite the increased number of devices with Christmas coming, you’ll still be able to get powerful mesh WiFi in every nook and cranny of your home, backyard included. No more dead spots, slow spots, drop-offs, or buffering — right out of the box. Eero is only available in the US and Canada and you can check it out here!

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