Being an HR Entrepreneur is a Piece of Cake

If I had a dollar for every HR start-up, I wouldn't have to start up my own HR venture!

Have you noticed how many people seem to be starting HR companies lately? I talked to an Angel Fund manager a few weeks back and he said “We've already talked to 2 HR start-ups this week.” There was no room at that Inn.

I wonder if these people starting new ventures in HR feel like HR is a piece of cake. There are certain things in the world where people think they are experts without putting in the effort to gain expertise.  Parenting is one example, marketing seems to be that way too, but so is HR.

I find HR entrepreneurship very hard. I have helped many HR companies over the last 30 years discover and build new products for HR. After helping sell the last one, I decided to start a business on my own. I have (as I said above) 30 years of experience building HR products. But I have never been an HR practitioner. So the first thing I did was form an advisory group made up of some of the best HR people I know. They are my life blood and my muses. It took several ideas developed, proposed, adjusted and revised before we came to anything we thought made sense and would truly fill a hole in existing HR processes. (We didn't want to build the same thing everyone else is building). It wasn't a piece of cake.

The result of this effort is what we call Referral Link: http://innotrieve.com/referrallink/

We just released yesterday – but we still have miles to go. The product is good but it is not everything that it can be. HR is a crowded market, HR Directors and Managers are smart, savvy buyers, HR has extremely tight budgets and very demanding ROI requirements, and HR people know when a product really helps them and when it is just another version of something that already works well enough. 

And boy has this been anything but a piece of cake.

How Far is Far Enough for A Lean HR Product?

Better is the enemy of done. I heard that saying about a decade ago from a business development executive. I was the senior product development guy and he wanted me to hurry up. I didn’t. We had a great product release too, I might add.

But now that I have gained experience and respect for the Lean Start Up strategy, I think about that sentence differently than I used to. I am beginning to realize that customer reaction to your product may be the best way to (eventually) get it right. But how much “not yet right” is too much?

I was very comfortable with our Minimum Viable Product release. It did about 50% of what the production release will do, but the test customers knew that, and the things it didn’t do did not distract from the basic customer experience. I felt good about that.

But now Release 1.0 is going out the end of this month (IT-Gods Willing) and I feel like a teenager on prom night: All I can see are the pimples.

I asked this question of my advisory team. They said it has to be measured by the customer experience. The product has to be good-enough for the customer. I liked that answer, but it doesn’t fully work. Most features are (or should be) oriented toward the best customer experience possible. So when I look at the recruiter dashboard and think it needs to have data displayed more clearly, does Lean SU suggest I let that go and see what the customer thinks. Maybe. It depends.

I am comfortable with our first product. But I stay awake thinking about that last pimple.