important execution details required to run a company, such as process design, goal setting, structured accountability, training, and performance man… - Ben Horowitz

Much has been written about process design, so I won’t repeat that here. I have found the “The Basics of Production,” the first chapter of Andy Grove’s High Output Management, to be particularly helpful. For new companies, here are a few things to keep in mind: Focus on the output first. What should the process produce? In the case of the interview process, an outstanding employee. If that’s the goal, what’s the process to get there? Figure out how you’ll know if you are getting what you want at each step. Are you getting enough candidates? Are you getting the right candidates? Will your interview process find the right person for the job? Once you select the person, will they accept the job? Once they accept the job, will they become productive? Once they become productive, will they stay with your company? How will you measure each step? Engineer accountability into the system. Which organization and which individual is responsible for each step? What can you do to increase the visibility of their performance?

the market itself was transforming due to an underlying technological shift:

So we begin with a strong bias that whoever we hired must be world-class even before performing one day of work. To make matters worse, executives who start off world-class often deteriorate over time. If you are a sports fan, you know that world-class athletes don’t stay world-class for long.