Dave Berkus
Dave Berkus is a noted speaker, author and early stage private equity investor. He is acknowledged as one of the most active angel investors in the country, having made and actively participated in over 87 technology investments during the past decade. He currently manages two angel VC funds (Berkus Technology Ventures, LLC and Kodiak Ventures, L.P.) Dave is past Chairman of the Tech Coast Angels, one of the largest angel networks in the United States. Dave is author of “Basic Berkonomics,” “Berkonomics,” “Advanced Berkonomics,” “Extending the Runway,” and the Small Business Success Collection. Find out more at Berkus.com or contact Dave at dberkus@berkus.com
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Reward Success and Failure. Punish Only Inaction.
Reward failure? That may be a difficult concept for an executive. And there are limits of course. We wouldn’t reward a failure to follow laws, or protect lives, or deliberate endangerment of the company or its people.
Power is Sometimes Assumed When Not Granted
How many times have you heard someone say, “Let’s do it now and ask permission later?” It’s a common practice in companies where there is a barrier between levels in the chain of command, or lack of communication.
Fire Yourself. Rehire a New You
We may run out of fresh ideas after a time; most of us do. But there are sources of great ideas right next to us in our own company, or available to us .
Help Your Employees Grow Through Their Position
When we accept the work commitment from a person we hire, we make a pact with the new employee that often stops at agreeing to pay for service rendered and to provide a safe working environment.
Don’t Manage “What” without “Why”
Empowering your direct reports with the reasons for your orders gives them incentive to act, motivation to accept authority, and purpose behind action. I try to teach this with the simple phrase that is the headline of this insight.
Are You Too Emotionally Involved in the Decision?
Negotiating an agreement, especially one that involves personal gain, is tough for the person personally involved. There is too much to lose to be objective, to be willing to walk when terms go upside down.
Do You Tell Your Direct Reports HOW to Do a Job?
Unless your job is to teach, attempting to tell your direct reports HOW to do the job you’ve asked or ordered them to do will be a disincentive, will remove some of the authority you’ve delegated, and definitely reduce their motivation to act and lead.
You Are Watched More Closely Than You Think
Ever had a manager above you who said one thing and did another? At least once? Or in a pattern of repeats? Well, you’re not alone. Did you think less of that person for it?
Stay in Touch with Your Investors
Investors as a group have a common gripe—almost universal. Information flows from the company irregularly, in fact most often when the company is urgently in need of more money.
Hire Slowly, Fire Fast
New hires can shore up the weak areas of a business in ways existing employees cannot, if hiring is done to fill true needs.