Thought Partners Will Help You Make Better Decisions, Advice on Scaling from a Master COO - Tactician: #0087

"Having a thought partner is like suddenly discovering there's a co-pilot on your flight. 'Oh, you mean I don't have to fly this thing alone through the storm of market uncertainty? Great, you take the wheel while I check the in-flight snacks.'"

28/03/24

Thought Partners Will Help You Make Better Decisions

Why Read:

• Gain insights into the value of thought partners over traditional mentorship for more dynamic and multifaceted problem-solving.

Authors:

• Gregory Shove, Founder/Advisor at Machine & Partners

• Taylor Malmsheimer, COO at Section

Link: 

• “You need a thought partner”

Key Concepts and Tactics:

• Definition and Value of a Thought Partner: 

  • "People are constantly talking about mentors – how to find one or how to be one. But I don’t want a mentor – I want thought partners (many of them). People with enough context to help me solve the challenges I’m facing, but enough objectivity to check me and force me to evaluate multiple angles."

• Characteristics of an Effective Thought Partner: 

  • "A thought partner: 

    • Digests the context of the situation you’re facing. Either they’re already close to the problem because you work together, or they have enough context (usually from having faced a similar problem before) to get familiar quickly. 

    • Plays out various scenarios with you. They talk through the options in front of you and help you weigh the risk/reward of each.

    • Suggests options you haven’t thought of.

    • Pushes back on assumptions.

    • Helps you anticipate long-term effects and reactions.”

• Common Obstacles in Thought Partnership:

  • “A thought partner sounds great, right? But most people won’t do all of the above without some coaching. Here’s why:

    • They’ve been taught to have “the right answer,” so they’re uncomfortable sitting in ambiguity or admitting they don’t know.

    • They think you’re asking them for advice.

    • They think you want validation.

    • You’re not giving them enough context.

    • Secretly, you do just want the answer (not the process to get there). Deep down, you may just want a wise figure to say, “This is exactly what you should do.” If that’s what you want, you won’t encourage the back-and-forth necessary for a thought partner to succeed.”

• Developing a Thought Partnership Network: 

  • "Build a 'bench' of thought partners you can pick from. Don’t rely on one person for everything – build a bench of people with different contexts and expertises. That should include people from your team, same-role counterparts at different companies, and trusted friends."

  • “Tell them that you need a thought partner. Be upfront and tell them you’re not looking for advice – you need someone to work through the problem with you. Here are phrases we use to signal this:

    • I want to think out loud about this problem for a few minutes.

    • I want to pick your brain on something I’ve been grappling with.”

  • “Give them enough context to be helpful…but no more. Send a pre-read, even if it’s just a short email outlining the problem. If you can’t, spend 5 minutes outlining the problem for them….”

  • “Ask specific questions.”

• Utilizing AI as a Thought Partner: 

  • "Use Claude over GPT. Claude is the best 'strategic thinker' of the bunch and is able to understand and predict the bigger implications of small decisions."

  • “Tell AI how to act. Say, “I’d like you to review this deck and give me feedback as if you’re my CFO, and your focus is meeting our revenue targets while staying within our budget.” Then do the same thing with other roles and other focuses.”

Advice on Scaling from a Master COO

• Why Read:

  • Gain insights on navigating company culture, product-market fit, customer relationships, messaging, hiring, and avoiding common startup pitfalls.

• Author:

  • Shomik Ghosh, Partner at Boldstart Ventures interviews Charles Zedlewski, former COO at Temporal and GM at Cloudera

• Link: 

  • “Scaling Product & Operational Excellence”

• Key Concepts and Tactics:

  • Fighting Company Politics in Culture: 

    • "It's essential to establish a transparent and open culture early on, where politics are minimized, and meritocracy is promoted. This ensures that the team remains focused on the company's objectives rather than getting entangled in internal politics."

  • Figuring Out Commercial Products to Sell At Cloudera: 

    • "Determining which commercial products to sell was a pivotal moment for us. It involved understanding the market needs, aligning them with our technological capabilities, and then iterating rapidly based on customer feedback. This process is critical for any startup looking to find its product-market fit."

  • How Customers Weight Support & Services Differently Over Time: 

    • "We noticed that as our relationship with customers evolved, their valuation of our support and services changed. Initially, they valued the technical superiority of our products, but over time, the focus shifted towards reliability and the quality of support. This transition highlights the need for startups to adapt their value proposition as their customer relationships mature."

  • Closing Early Customers at Cloudera: 

    • "Closing our early customers was about demonstrating value and building trust. We had to show not only that our technology was superior but also that we were committed to their success over the long term. For startups, securing these early customers is crucial as they lay the foundation for future growth."

  • Nailing Positioning & Product Messaging: 

    • "Getting the product positioning and messaging right is essential for connecting with your target audience and differentiating your offering in the market. Startups must invest time in refining their messaging to ensure it resonates with their customers and aligns with their market positioning."

  • Hiring Player / Coaches: 

    • "In a startup, hiring individuals who can both do the work and coach others is invaluable. These player/coaches can drive performance while building a strong team culture, which is crucial for a startup's success."

  • Common Failure Paths of Startups: 

    • "Understanding the common failure paths of startups can help founders avoid these pitfalls. It's often not just about the product or market but also about execution, team dynamics, and adapting to change."

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