The Culture That Helped Build A $1 Billion Company

26

Transcript of The Culture That Helped Build A $1 Billion Company

Page 1: The Culture That Helped Build A $1 Billion Company
Page 2: The Culture That Helped Build A $1 Billion Company

DON’T THINK HOW TO BUILD THE BEST COMPANY CULTURE

Think about building a system that will work best, for you and your

team, and will move the company forward.

Page 3: The Culture That Helped Build A $1 Billion Company

THE KEY IS… MOTIVATION

In other words: your own concept of your craft can drive your work forward.

In an old Zen parable from 1,000 years ago, an old man walked by a

stonemason and asked him what he does. The man replied, “I’m making

a brick”. As he walked by another man doing the same thing, this time

the mason replied he’s constructing a wall. He then met a third mason,

who told him he’s building a temple, a place for people to pray and find

hope and for the poor to find nourishment.

Page 4: The Culture That Helped Build A $1 Billion Company

WORKING FOR THE GREATER CAUSE

Creates motivation, commitment and collective thinking

within the team.

Helps retain your workers’ commitment in later stages.

Page 5: The Culture That Helped Build A $1 Billion Company

CEO GUIDELINES

The company you have is the result of the team you build, not the

product.

As CEO, your main task is to make sure everybody focuses on the

company, instead of their own egos.

Page 6: The Culture That Helped Build A $1 Billion Company

HIRE THE SMARTEST PEOPLE

A wise person once said, “if you bring a lot of excellent people to work

together, you will find that excellent things happen without you having to do

anything”

Hire the best and smartest people – you need teams comprised mostly of

A+ employees

It’s better to hire smart employees with motivation than average

employees with experience. This is because:

- After a few months, the smart employees will become great, while the

average employee will still remain average

- A+ players always strive to hire other A+ players. B players always hire

employees that are weaker than them

“If your organization is growing by 100% each year, employees must

improve by 100% each year, just to stay in place” (Janet Holian, VistaPrint)

Page 7: The Culture That Helped Build A $1 Billion Company

Ultimately, the team you build is the company you build.

“At a startup, you can often be tricked into thinking you’re

building a technology company and so you focus a lot on the

product. But ultimately, what you’re really building is a team to

build the product and then the company”.

(Keith Rabois)

Page 8: The Culture That Helped Build A $1 Billion Company
Page 9: The Culture That Helped Build A $1 Billion Company

DON’T LIMIT YOUR TEAM’S INTELLIGENCE

If you bring intelligent people on board, and don’t give them all the information

needed, what did you achieve by that?

If you only give them information that you consider to be important, you are aligning

the company to your own level of intelligence, which isn’t necessarily the highest one

there

Page 10: The Culture That Helped Build A $1 Billion Company

If you limit information, you are building a team that is about:

Classes = who knows what

Hiding information = secrets

Information leaks= investigating it is a waste of time and energy, and is

detrimental to company morale

Page 11: The Culture That Helped Build A $1 Billion Company

When you don’t limit internal sharing of information:

It’s about collaboration

It’s about finding information required to do your job

It’s about an open and honest company

Page 12: The Culture That Helped Build A $1 Billion Company

WHY KEEP SECRETS?

If you are a web company, the following numbers are very important to you:

Conversion rate from free to paying users

Cost of lead, translating to cost of paying users

Support problems

If someone else has this data, in effect they know everything about your

business. However, if your company is working well, all employees are

constantly working to improve those numbers. This means they must be

exposed to those numbers to begin with. Therefore, if the core of your business

has to remain exposed to everybody, what else is there to keep secret?

Page 13: The Culture That Helped Build A $1 Billion Company

DEALING WITH PROBLEMS

Worst-case scenario - everyone thinks of bumps as someone else's

problems.

Better scenario - everyone takes responsibility, thinks of it as their

own problem, and blocks others from interfering.

Best-case scenario - everyone considers it “our problem”, and

makes sure it is solved

The only thing worse than that is when people who should solve the

problem – don’t even know it exists

Page 14: The Culture That Helped Build A $1 Billion Company
Page 15: The Culture That Helped Build A $1 Billion Company

THE ACTUAL OFFICES

Offices have glass walls .

The doors to all the rooms remain open. Always.

The office entrance has a display of all the relevant data

Page 16: The Culture That Helped Build A $1 Billion Company

SHARING INFORMATION

Each month, we conduct a company meeting in which we present

the main and most important things that happened at Wix

We share our problems and our plans with everybody

We also make sure everyone is drunk afterwards ☺

Page 17: The Culture That Helped Build A $1 Billion Company

DAPULSE

Everybody in Wix can use daPulse, must be on daPulse and has a

profile with their photo on daPulse, so they could be easily recognized

You can try daPulse for free >>

Page 18: The Culture That Helped Build A $1 Billion Company

Each team posts a weekly report to

daPulse, including marketing and sales,

product, customer reviews and more.

Everything is available for all to see, learn

and consume.

A daily operational meeting is uploaded

into daPulse after taking place – so

everyone can see and be part of what is

happening that day.

You can try daPulse for free >>

PROJECT

Page 19: The Culture That Helped Build A $1 Billion Company

PRODUCT BOARD

A central products and projects board is available for all. It includes

projects that the entire company is currently working on, their status

and whether their delivery is delayed or on time.

Page 20: The Culture That Helped Build A $1 Billion Company

PROJECTS COMPLETION

Once a project is completed, we load the information onto daPulse.

For instance: Template Creation – the designers will load the info onto

daPulse; Product – the business results will be loaded onto daPulse

You can try daPulse for free >>

Page 21: The Culture That Helped Build A $1 Billion Company

HOW DID DAPULSE CHANGE THE WAY WE RUN MEETINGS?

Now, meetings are all about what we’re doing next, not what we did.

Page 22: The Culture That Helped Build A $1 Billion Company

WHERE TO START? STAGE 1

Choose the most important KPI for your company. Is it conversion? Is it

the number of sales?

Make it, and all of its components, visible to everyone

Make sure everyone knows it is the most important KPI for the company

Page 23: The Culture That Helped Build A $1 Billion Company

STAGE 2

Make sure all the projects are listed, including dates and stages,

so everyone will know what is going on within the company on each level

Sales and Support know if and when there is a change in the product

Everyone can see product designs and comment on them

Page 24: The Culture That Helped Build A $1 Billion Company

STAGE 3

Share customers feedback

What is good?

What is bad?

How did your product improve someone’s life?

Remember the temple from the Zen parable?

Page 25: The Culture That Helped Build A $1 Billion Company

STAGE 4

Schedule a monthly meeting in which you share with everyone what

took place and what is planned

The good the bad and the ugly - include everything

Page 26: The Culture That Helped Build A $1 Billion Company

For more information on daPulse, click here

To learn more about the Culture of Transparency, click here