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Blog.

Blog.

[Insert title here]

Carl Fritjofsson

Here's a hot potato - job titles! In the context of startups job titles are usually considered a minefield. Most people look for a career in startups due to the potential to play a larger role and wear multiple hats. And because small organizations should avoid managerial layers and hierarchies, job titles are often perceived as irrelevant bureaucracy. The result is that early stage companies usually pay very little attention to the structure and process of job titles. There are companies out there like Medium and Zappos who have managed to go completely without titles. But in the context of those firms removing titles is just a small part of an organizational vision about eliminating hierarchies and having a more dynamic structure - an organizational approach called Holocracy, which requires its own set of highly disciplined leadership. However, most of us still operate in traditional environments where we rely upon org charts and static roles, and if you're building or operating in such an environment I'd like to point out some important notices about job titles and why you should think about them early during your company's lifecycle. 

Communicating opportunities. The main purpose of a job title is communications. Often this communications represents external and internal expectations about each team member. External expectations involve authority and expertise within your company. Internally they can be more granular and could be responsibilities and ownership, management of other team members, reporting lines, salary bands, etc. In a small team this communication is often not critical as everyone knows who does what, but as your organization grows this communication helps to channel internal conversations to the right people in your daily operations. These are all benefits which can help your day-to-day business. However, the most important communication carrier job titles represent are internal career paths and growth opportunities. Communicating such career paths is an essential component for creating a meaningful existence for your employees, as it shows a way forward. Employees are less likely to feel their wheels are just spinning. People, who understand their career paths, can set goals on what to achieve and learn to take the next step. By measuring and increasing transparency in their progress they become more self-fulfilled, more motivated and long-term engaged. Hence, if you define, manage and communicate job titles well, you have created a parts of a long-term and transparent development plan for the organization to minimize employee turnover. 

It doesn't matter = It does matter. People care about their job title. That's a fact. Many will say they don't, and that it's the actual job responsibilities and growing within the team that is important. This is often true during the recruiting process, meaning you won't win a certain candidate simply by giving them a specific title. Don't try that, as any decent candidate should be smart enough to see through the labeling and truly understand the expectations on the role and make the decision based on that. But a large part of people's identities lie in their job, and its title provides a quick summary of your professional life to yourself and to others. It's something people attach to their own identity and person. It's how you professionally introduce yourself to others. And it's how you professionally think about and see yourself. It's often communicated online not only with your LinkedIn, but also Twitter, Facebook, etc. Hence the title matters much more for the employee than the company. Anything of such importance for the employee should be managed with caution and respect by the employer. Don't wing it!

Don't inflate. Early in a company's lifecycle the first hires often get heavy titles such as Chief of X or VP for Y. The logic makes sense, because there are no others in the organization and each person have to fill some pretty large shoes. However, as mentioned above, the titles are also carriers of expectations. Over time as your organization expands the early hires you brought on will have to grow and qualify into those expectations. Many times people punch above their weight-class and rise to this challenge, but not everyone and often it takes some learning and time. Hence, a heavy title early on involves a reasonably high risk for the employee in case they do not fit into those expectations over time. Even if your early hire, dubbed CMO, was awesome at tactical marketing activities and did exactly what you needed during the first 12 months, they may not have the leadership or strategic experience to build a full-fledged marketing team with vastly different requirements. In this instance when you need to hire a more experienced marketer you will have to re-label your early CMO to Director of Marketing. Even though the person was great, it can easily be interpreted as poor performance and a demotion. The signal this sends into the organization can kill motivation. And the exact opposite exists; in case you hired that first marketing person as a Director or Marketing who turned out amazing and later on was promoted to CMO. It's so much easier and more effective to promote and push people up in the opportunity latter, rather than down. Hence, just because it's early don't inflate titles. Make sure early employees can continue to rise in your organization, align job titles to realistic expectations of their skills, and be very cautious labeling team members as CxO and VP titles. 

Avoid being unconventional. If I've convinced you about the importance job titles functioning as a tracker for people's career, it may be easy to understand why I'm generally not a fan of "X Ninja" or "Y Guru". These alternative titles may reflect a casual and playful company culture but that is something a company could address in many other ways (values, communications, design, etc.). But they basically mean very little in the larger context of aligning people to a long-term professional path. They are simply confusing. People searching for a new job may not find them and it's much harder for people to fit those titles into their overall career path. Unconventional titles often also tend to be inflated and pretentious (what's next after becoming guru?). Hence, don't try to outsmart titling and create your own reality. Your company operates in an ecosystem where you provide employment opportunities for top talent, and you have to consider how title semantics actually fits into such a context. 

In summary, I really hope to see more companies pushing the envelope on the Holocracy and other organizational structures, which tries to solve challenges with politics and organizational agility. But as long as you operate in a more traditional environment, I can't stress enough not to act sloppy around job title labeling for the purpose of looking non-bureaucratic. Instead use it to your strength, by communicating the purpose of job titles to your organization and set the right expectations. 

Crash and build.

Carl Fritjofsson

Dramatic times! The Chinese stock market is clearly going through some turmoil and I wouldn't want to try to outsmart this as the Wikipedia article is still being written on the topic. And the turbulence is being spread across the world and taking its toll with dramatic drops in US stocks. But not to worry! This could lead to the market adjustment in the tech space many of us have been expecting, and some of us even hoping for... 

The repercussions of public markets going south in the world of venture capital and startups have been articulated well by people like Mark Suster who yesterday explained a coming period of uncertainty. LPs (= investors into VC funds) will wait and see where the world is going meaning VCs will have a harder time raising new funds. A harder climate for VCs to raise new funds means that current funds will be invested more carefully, leading to financing rounds taking longer to close for startups. Late stage mega rounds will most likely also dry up and the tech bubble would have to hold its breath if the unicorns of today have to get by on their own. 

But here are the good news! First of all I'm looking forward to the macro economy adjusting housing prices in the two cities I'm exposed to - San Francisco and Stockholm. In SF these days not only are you required to pay a 💩-load, but competition of even getting access to an apartment is so fierce you may have more luck winning the Powerball Jackpot. And in Stockholm, where the government oddly enough (!) still is not requiring citizens to pay off instalments of their mortgages at the same time as running the country with negative interests, people are so over their head in debt they will all have to have been an early employee at Spotify to cover for it over a lifetime.  

And secondly, in the world of startups a downturn will force all startups to sharpen their game and really focus. For all of us who are long in this game this should be considered a positive thing. Less random meetups to go to, wantrapreneurs will find other things to do, and entrepreneurs really get to test their skills. You will have to do more with less, and will have to be creative in how to build your company during lean times. We have seen this a few times before already. After the 90's dot com bubble, only a few companies remained. Those companies where build by the true masters of entrepreneurship. They won against all odds, and developed and refined skills during those years, which have been proved incredibly valuable...and even scalable (the "PayPal Mafia", with PayPal being one of the dot com survivors, attributes much of their success to struggles they faced during those hard times). We also have more recent examples with companies like Dropbox and Airbnb, who both were founded during the last financial crash of 2008. Against all odds and despite Sequoia's well-renowned R.I.P. Good Times, they still crushed it and went on to build massive successful companies. 

Less funding simply means the best will survive. It's still to be determined if the Chinese crash will have implications on our little tech world, but once early stage financing becomes more scarce you can only do two things to weather the storm: ⬇️ burn rate and ⬆️ revenue. I'd advice you to start thinking of both already today. A downturn can be a healthy thing for the entire ecosystem so let's be excited about the future to come and the rockets to build! 👊💪