Last summer I wrote a post called What A CEO Does. It was a popular post and I’ve seen and heard people reference it frequently. In that post I suggested that the three things a CEO needs to do is set and communicate the overall vision, recruit and retain the best talent possible, and make sure the company never runs out of cash.
We have learned to evaluate tasks based on their intrinsic motivation for the individual they’re assigned to. An example of this is we just recently gave one of our developers a massive algo project because we knew that individual wanted to learn more about that space, and was motivated to join our team because of the potential work he could be doing in it.
As a bootstrapped startup, we can’t afford to pay our people market rates, so we have to make sure that almost every task assigned to our people adds to the intrinsic value of working with us – the magic is that we get concrete definitions of what type of work people enjoy doing when we’re hiring, and hire the people we have the greatest needs in. It’s an important win-win, as nobody walks away disgruntled.