If this is new territory for you, and you’d like to learn more, read about BATNA (Best Alternative To Negotiated Agreement)
I also recommend:
https://t.co/88nfI6XZSh
This is exactly why you - as an engineering leader - need to have a system to track all your vendors, contract sizes, and their renewal dates.
It’s your job to manage engineering spend (aka negotiate all major contracts)
Do not rely on finance for this.
https://t.co/FdRnq9CHtG
This is easier to see when we’re the seller (aka thinking about accepting a new role)
Which would you rather say to a company?
“Can I have $ more?”
or
“I have other offers around X. I prefer your company, but I need Y from you to make the economics work for my family.”
Remember: planning is important (because it makes us face the problem and think it through), but the *specific plan we made* is much else important.
Many companies (especially larger ones) over-index on the old plan because “accountability” and then miss the new opportunity.
Sometimes, the journey to build product A reveals that… actually… there is a better business selling product B, even if we still make Product A.
Don’t get too attached to your original idea! Be open to what you learn along the way. Be open to shifting your investments.
Sadly, because of the amount of bad actors in the system - trust needs to be explicitly established.
After hiring, a regular schedule of 1:1’s and group meetings with cameras on is essential.
I think it’s now critical that you see engineers code, live.
If it’s a remote interview - camera on and screen shared.
Most importantly: ask about their why. Why did they choose that approach? What were the tradeoffs, etc.
And that is definite *better than nothing*, but it points to a long term need for the exec team to have a real think about where the business is going, what’s most important, and to communicate those things as clearly as possible.
If the business doesn’t understand itself, engineering organization is going to be a best effort attempt within the department, or based on engineering (vs business) needs.