Lessons from one of the world’s top executive recruiters | Lauren Ipsen (Daversa Partners, General Catalyst)
Lauren Ipsen, a top product recruiter, shares tactical advice for founders on hiring senior product leaders, product managers on career growth, and recruiters on attracting talent. The discussion covers market pulse, relationship building, and common hiring mistakes.
Deep Dive Analysis
19 Topic Outline
Lauren Ipsen's Career Journey and Executive Search Background
Why Top Recruiters are Moving to VC Funds
Founders' Biggest Mistakes When Hiring First Senior Product Leader
Defining the Right Product Leader for a Specific Role
Common Archetypes of Product Leaders
Understanding Startup Product Titles: Head of, VP, CPO
Proactive Networking for Future Senior Hires
Effective Time Management for Hiring and Talent Sourcing
Leveraging Your Network vs. LinkedIn for Top Talent
Market Mapping and Identifying High-Performing Companies
Lauren's Most Memorable Executive Placement
Product Leaders: Importance of Diverse Experience for Career Growth
Balancing Company Loyalty and Career Advancement
Strategies for Effective Reference Checks
Resume Red Flags and the Importance of Honesty
Interview Tips for Product Managers
Career Planning: Goals vs. Adaptability for Product Leaders
Common Mistakes Recruiters Make and How to Build Trust
When and How to Choose an Executive Recruiter
3 Key Concepts
Logo Collecting
This refers to the practice of frequently changing jobs to accumulate big-name company logos on a resume, often without staying long enough to make a meaningful impact. While it might look good on paper, it can be a red flag to recruiters who look for sustained impact and commitment.
Market Mapping
This is a strategic process used in recruiting to identify the best companies within a specific industry or area. It serves as a starting point to then delve deeper and identify the top-performing individuals within those organizations, rather than just relying on brand reputation.
Backchannel References
These are references obtained by a recruiter or hiring manager from individuals who have worked with a candidate but were not formally provided by the candidate. They are considered a more reliable source of truth than provided references, offering an unfiltered perspective on a candidate's performance and impact.
12 Questions Answered
Founders often make the mistake of being distracted by 'shiny objects' or big names from large companies, who may be too far removed from the day-to-day work required at an early-stage startup. Instead, they should seek someone closer to the work who can operate as a senior PM while also building from a leadership perspective.
Founders should work backward from the desired outcome, determining where the product leader should specialize (e.g., design, core product, growth, monetization) and what their mandate will be. They need to be incredibly granular about what the person will do in the first 90 days, one year, and two years, rather than just hiring a 'head of product' because they feel they need one.
Product leaders typically fall into three main buckets: platform/infrastructure-focused, core/consumer product-focused (which can include UX/design), and specialists hyper-focused on areas like growth or monetization.
Early-stage startups are often title-agnostic or 'allergic' to C-level or VP titles, using 'Head of' more frequently up to Series C or D. For the most part, 'Head of Product,' 'VP of Product,' and 'CPO' can mean the same thing depending on the stage, representing the most senior product leader, but founders should avoid over-promising C-level titles too early to prevent potential demotions later.
Founders should always keep a pulse on the market, understanding which companies and individuals are thriving. They should chat with 'good looks like' candidates without an immediate agenda, building rapport and trust, and potentially involving them in an advising capacity to stay close to great talent for future needs.
Product leaders should focus on gaining breadth of experience by touching many different components of product (e.g., platform, user-facing, internal tools) rather than specializing too early. They should also diversify their experience by working at entrepreneurial ventures and more established companies to gain different skill sets and best practices.
While 'logo collecting' (frequently jumping companies) is generally a red flag, staying too long at a declining company can also be detrimental. The key is to stay long enough to make a meaningful impact that others can speak to, leaving the place better than you found it, and being able to articulate why you moved on.
When conducting reference checks, especially with provided references, it's crucial to dig deep beyond standard positive feedback. Ask hard questions like 'Why would I not hire this person?' or 'What are their biggest weaknesses?' and probe further if generic answers are given. Also, ask if the reference would hire or report to the candidate again, and pay attention to any pauses or hesitations.
A recurring pattern of short stints (less than a year) at multiple companies is a red flag, though a single short stint might be explainable by market conditions. Another red flag is dishonesty, such as omitting short tenures or misrepresenting titles, as recruiters value transparency and the ability to honestly tell one's career story.
Product managers should avoid blaming engineering or other teams for missed deadlines or product issues, instead taking a holistic view. They should be honest and authentic about their strengths and weaknesses, and practice telling their career story, articulating their impact and why they were a valuable asset to previous organizations.
Engaging with recruiters proactively is always beneficial, even informally for advice. Venture firms often provide talent support to their portfolio companies. Typically, Series B (or Series A depending on check size) is a good time to bring in a firm to help hire key big players, as companies at this stage are well-positioned to do so.
Founders should provide their hiring direction and then ask the recruiter to recite it back to ensure they've listened and understood. They should also ask for immediate candidate ideas to gauge the recruiter's network and calibration. This helps determine if the recruiter is someone they can effectively calibrate with and who can show their work beyond just a deck of past searches.
30 Actionable Insights
1. Maintain Market Pulse
Continuously monitor the market to understand which companies are thriving and which individuals are building great things, whether you’re hiring or seeking opportunities, to always know “what good looks like.”
2. Proactive Talent Engagement
Founders should proactively chat with high-caliber individuals to understand benchmark profiles, staying close to great people and involving them in an advising capacity or product involvement before a specific hiring need arises.
3. Clarify Role Mandate
Before hiring, founders must get granular about the specific outcomes and mandate for the role, defining what success looks like for the individual in 90 days, a year, and two years, rather than hiring just to fill a title.
4. Hire for Specific Fit
Focus on identifying the candidate who is the best fit for the specific role and current stage of the company, rather than simply pursuing the “best talent in the world” who may not align with immediate needs.
5. Don’t Chase Big Names
Founders should avoid being distracted by big names from large companies, as these individuals may be too far removed from hands-on work and not suitable for early-stage companies with limited resources that need executors.
6. Cultivate Career Breadth
To maximize future opportunities, especially for product leadership roles, focus on gaining broad experience across many different product components rather than specializing in just one area.
7. Network Continuously
Always maintain a pulse on the market and build your network, even when content in your current role, to ensure you have options and can be selective about future opportunities.
8. Deliver Tangible Impact
Ensure you make a clear, tangible impact that you can point to and be proud of, as recruiters look for specific accomplishments and “fingerprints” on products, not just short stints.
9. Ensure Visible Impact
Beyond making an impact, ensure your contributions are recognized and can be spoken to by cross-functional leaders and your team, as this provides a strong “stamp of approval” for your accomplishments.
10. Depart Gracefully
Always strive to leave a company better than you found it and as seamlessly as possible, regardless of circumstances, because the tech world is small and positive references are crucial.
11. Impactful Hiring Focus
When actively hiring, dedicate significant, concrete time, focusing on impactful actions like leveraging a strong pre-built network for referrals rather than blindly cold-messaging on LinkedIn, to differentiate your approach and find top talent.
12. Utilize Trusted Referrals
Tap into a strong, trusted network of industry leaders for high-quality referrals and introductions, as this ensures quality and saves time compared to cold outreach and blind reference checks.
13. Probing Reference Questions
When conducting reference calls, ask hard, specific questions like “Why would I not hire this person?” or “Would you hire them again?” to uncover genuine weaknesses and potential red flags, looking for any hesitation in their answers.
14. Master Your Career Story
Regularly practice articulating your career story, including your accomplishments, impact, and reasons for transitions, so you can naturally and effectively communicate your value in interviews.
15. Recruit with Empathy
Recruiters must treat candidates as human beings, building genuine, long-term relationships and trust by showing care for their career and life beyond work, rather than viewing them as commodities.
16. Data-Driven Conflict Resolution
As a product leader, navigate disagreements and make changes by presenting data-backed arguments rather than emotional ones, which allows for impactful decisions without alienating colleagues.
17. Prioritize Career Longevity
While loyalty is good, avoid staying at a company too long if it’s clearly declining; be selfish about your long-term career, working hard while remaining open to new opportunities.
18. Show Resilience
Avoid leaving a company as soon as challenges arise, as demonstrating resilience and commitment through difficult periods (e.g., internal disputes, market volatility) is a valued trait in the startup and tech world.
19. Value Impact Over Title
Don’t let fancy titles or company valuations derail you from a role where you are making an impact, learning, and growing, as true fulfillment comes from meaningful work, not just a prestigious title.
20. Resume Honesty
Always be honest and transparent on your resume about all past roles, even short ones, as omitting them can be a bigger red flag than addressing them directly and explaining the circumstances.
21. Accurate Employment Dates
Ensure your LinkedIn and resume accurately reflect start and end dates for all roles; misrepresenting current employment or past tenures is a significant red flag.
22. Address Short Stints
While multiple short job stints (less than a year) are a red flag, be prepared to honestly and gracefully explain the reasons behind them, as context matters and recruiters understand market volatility.
23. No Blaming in Interviews
In interviews, never speak negatively about past colleagues or blame other teams for failures, as this reflects poorly on your ability to collaborate and take accountability.
24. Strategic Career Alignment
If you have a clear long-term career goal (e.g., CEO), strategically choose roles that build relevant skills, such as moving from product leadership to a GM role with P&L ownership, to inch towards that objective.
25. Early-Stage Title Strategy
For early-stage startups, use “Head of Product” rather than C-level or VP titles to avoid over-promising long-term role stability, as talent needs and company direction can change rapidly.
26. Proactive Recruiter Engagement
Founders should engage with recruiters or talent advisors proactively and informally, even before a formal hiring need, to gain insights and bounce ideas, especially leveraging resources from venture firms.
27. Evaluate Recruiter Expertise
When evaluating a recruiter, test their listening skills by asking them to summarize your needs, and then immediately ask for real-time candidate ideas to assess their network and expertise.
28. Network with No Agenda
If you don’t have a network, it’s worthwhile for founders to cold message impressive individuals on LinkedIn for open-ended conversations, as people are often flattered and more receptive when they don’t sense an immediate recruitment agenda.
29. Beyond Company Brand
While market mapping for top companies is a good start, always dig deeper to identify the truly exceptional individuals within those organizations, as not everyone at a successful company is a top performer.
30. Envision Role Trajectory
CEOs and founders should think beyond immediate tasks, considering the product direction and how a hire’s role might evolve over 12-18 months, potentially growing into a CPO role through IPO.
5 Key Quotes
Regardless of whether or not you're hiring, you should always be keeping a pulse on the market. That is the most important thing.
Lauren Ipsen
You never want to put yourself in a position where you have no idea what good looks like, whether that's from a company standpoint or from a candidate standpoint.
Lauren Ipsen
Just because this is the best talent, that doesn't necessarily mean they're the best talent for this role today.
Lauren Ipsen
You want to have an impact. You want to be able to say, you know, I did X, Y, and Z. I'm super proud of this. And the reason I moved on is because, you know, I, I did what I came in to accomplish.
Lauren Ipsen
You have to be a human, you have to start with a relationship, find common ground, build rapport, listen to people, like actually listen and remember what they say.
Lauren Ipsen