Meet Julie Yoo, investor and general partner with the famous firm Andreessen Horowitz (aka a16z). She’s an incredibly successful leader in her own right, but she also understands the essential role team and talent play in building a winning business. Julie’s a former founder herself, so the advice she gives to leaders is informed by having been on both sides of the equation: a founder seeking funding, and an investor vetting teams to ensure fit – and impact. On today’s show, Laurie and Julie dig deep into how you can create, attract, and leverage the right team for your enterprise.
Key Takeaways
- Founders v CoFounders: Julie is all in on cofounders. Building a company is hard work and having someone who is in the trenches with you is a must have. The C suite is a lonely place and needing to put on that game face for your board, your clients, your funders and your team also means you need support and stamina. Cofounders give you room and support for the hard work of building a successful business.
- There is literally nothing more important than the team when building a company: Work with people with different perspectives and ideas. Trust is key – if you do not have it – this is not someone you want on your team, especially during that early building phase. This team is so crucial to your business and has the potential to make or break your venture.
- Building Teams Takes Time, but Developing Relationships Can Lead to More Successful Outcomes: Having deep connections with your team will improve how you work together and manage challenges when they arise. These relationships cannot be forced, but are grown through years of work and getting to understand each other. Through being vulnerable with one another and putting effort into each of the work relationships, deeper connections can be formed.
- Decision making – Team v Leader. TL;DR – it’s the leader: Although relying on your teammates is necessary for certain aspects of company development, as a founder, or leader, you must take the steps necessary to remain in control, and make the hard decisions. It can be lonely and tough decisions are exactly that – tough. Do not confuse the importance of the team work with the importance of the top leader/CEO.
- There are Business Opportunities that Only Women Understand: There of course are all the facts that support the challenges for women leaders with significant gaps in funding. And……female leaders can also leverage experience to tailor a product to customers that a male entrepreneur could not. The lack of women in entrepreneurship can be discouraging especially when managing the unequal distribution of funds and women in leadership roles.. Women can bring diverse perspectives that elevate a brand or make their company stand out. The importance is building a sustainable impactful business.
Supporting Resources
- Julie’s Podcast on Breaking Down Investing, Julie Yoo and Guests
- Overview of Team Building, Nicole Heimann, 2022
- Building Business Relationships, Lian Parsons, 2022
- Importance of Business Relationships, Sam Kaufman, 2022
- Benefits of Developing a Diverse Team, David Rock and Heidi Grant, 2016
- Knowing When to Fire an Employee, Jamie Johnson, 2023
- Improving Your Hiring Decisions, Bruce Eckfeldt, 2020
- Empowering Female CEOs, Yasmin Walter, 2024
