… and still no gray hair
Mikita Mikado · PandaDoc
Published September 1, 2022Mikita Mikado, CEO of PandaDoc, shares:
- Panda Operating Framework
- Communication hacks for 0-750 FTE’s
- KPI’s we used to hit $1b valuation
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Mikita Mikado describes PandaDoc’s move from bootstrapping to scale through recruiting, giving teams context, making metrics accessible, and operating as a global software company.
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“um i had to meet more than like hundreds of people i'm not kidding and i've heard all that wonderful feedback uh some it was helpful but uh but worst of all we didn't really have a life like we worked 16 hour days and i wouldn't say was very rewarding so now how the heaven looks like again we're fraught from heaven a lot could be done”
“we launched things like education budgets that every employee can use at their discretion on things like conferences books courses and so on so forth that's pretty typical we allocated certain amount of equity so that people can find advisors mentors for themselves we um enabled our like enabled all of our managers to have board access they got to reach out to”
“how we aspire the work to be done and how we aspire what we aspire the culture within the company to be and when i say aspire we're human beings we sleep all the time so at the very least this document uh became a way for my co-founder and i to call each other on [ __ ] as well as like our employees because we shared it with a team right to call us on hey mikita”
“is how you communicate around it so the cadence of meetings meetings around those kpis meetings around the ocrs was another important um revelation that uh and implementation that we've done within the company that helps to set that written that set us into motion set us into running and then finally the last thing”
“people people are who aren't allowed to leave kyiv right now are literally going down to the bomb shelter six times a day every time their rates go off you know a lot of them are staying behind out of choice to volunteer you know not all of them are fighting but they're like delivering food delivering clothes driving from town to town to make logistics work or to bring food in uh it's it's crazy stories and then i woke up on sunday morning and found out that the head of finance for se”
“Sharing the Company Mission Help innovative organizations scale and win by eliminating workflow inefficiencies and bureaucracy.”
“Building a Comprehensive Operating Plan Board-approved operating plans is how we plan and track progress internally. Most directors have access to company-wide board-approved operating plan. Most managers have access to their teams operating plans.”
“Transparency, Inclusion and Belonging Investing in Each Panda From onboarding to learning to feedback and bonding, we make sure each Panda has access to key information and feels she/he belongs at PandaDoc”
“KPIs Well defined roles and teams with decent benchmarks primarily focus on KPIs (e.g. sales) In such cases KPIs are tied to compensation and help informing our operating plans.”
“360° Performance Reviews Holistic reviews and feedback from: Managers Peers Reports Opportunities for career growth, mentoring and mobility”
Video
6 Tactics We Used to Go From Bootstrapped to Unicorn - Slide Deck
Mikita is a software entrepreneur, CEO, and Co-founder of PandaDoc. When he is not working, you can find him catching waves on a surfboard or hanging out with his two daughters. Mikita’s commitment to solving issues created by document workflows, coupled with his immigration to the U.S., led to a leadership approach that personifies his values—cherishing freedom and the ability to be successful.
Mikita Mikado · PandaDoc
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24 passages
March 2022 March 2022 | Mikita Mikado, CEO of PandaDoc Mikita Mikado CEO of PandaDoc 6 Tactics We Used From Bootstrapped to Unicorn … and still no gray hair
Only $1m Raised First $5m ARR 2007 2010 2013 2015 2016 2017 2018 2019 Org Charts Technology Intelligence Added to App Exchange Intent by Category Ideal Customer Profile, ReachOut Extension Enrich Launch, RainKing Integrated Corporate Hierarchy, Intent by Topic Combined Platform, Form Complete, Workflows Only $1m Raised Investment
Smart goal setting Panda Operating Framework How the engine works… Communication hacks for 0-750 FTE’s Inclusion and belonging on team Talent acquisition and growth 25x ARR multiple wasn’t “accident” KPI’s we used to hit $1b valuation Our systems for: Learn, grow repeat TEAM CONTEXT GROWTH RHYTHM
The Right Context: Effective Communication Content and Transparency
Sharing the Company Mission Help innovative organizations scale and win by eliminating workflow inefficiencies and bureaucracy.
Sharing the Company Vision Build the most intuitive platform that automates agreements, transactions and other document-driven workflows.
Sharing the Company Culture Code
Sharing the Company’s Annual and Long-Term Strategy A document that talks about our strategy for the year at length (20+ pages long).
The Right Context: A Data-Driven Approach
Building a Comprehensive Operating Plan Board-approved operating plans is how we plan and track progress internally. Most directors have access to company-wide board-approved operating plan. Most managers have access to their teams operating plans.
Detailed and Accessible Metrics Metrics site, tools and teams We invest heavily in the data, processes and tools needed for every Panda to be successful
The Right Context: Transparency, Inclusion and Belonging Building an Award Winning Workplace Culture
Transparency, Inclusion and Belonging Investing in Each Panda From onboarding to learning to feedback and bonding, we make sure each Panda has access to key information and feels she/he belongs at PandaDoc
Onboarding Content and accountability Content, LMS, HRS, Certifications Buddies, meet-the-founders, “Who am I”
Learning EDU budget: conferences, courses, books, etc. Advisers and consultants Board
Feedback Anonymous surveys Market (G2, Capterra, Glassdoor) Team pulse eNPS per team / department / company Weekly or bi-weekly 1-1s PIPs
Bonding Offsites Ripped Pandas, PandaPics, Virtual get-togethers Hangouts Investments in personal growth and wellbeing
Rhythm and Rigor: Accountability & Smart Goal Setting
KPIs Well defined roles and teams with decent benchmarks primarily focus on KPIs (e.g. sales) In such cases KPIs are tied to compensation and help informing our operating plans.
OKR Progress Teams and individuals that work on projects with less tangible outcomes track performance through the progress on OKRs. Compensation is not tied to OKR progress at PandaDoc.
Meeting Cadence Monthly KPIs Review Monthly OKRs review Quarterly Org planning Quarterly productivity orgs review Quarterly incubations review
Rhythm and Rigor: Learn, Grow, Repeat
360° Performance Reviews Holistic reviews and feedback from: Managers Peers Reports Opportunities for career growth, mentoring and mobility
March 2022 | Mikita Mikado, CEO of PandaDoc Mikita Mikado CEO of PandaDoc
