Transcript
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Yeah.
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Hey everyone welcome back to be, to be
growth. My name is Olivia Hurley and
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today I'm joined by Joni wang who is
the director of marketing and brand at
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expense if I Tony, how are you doing
today? Hey Libya, It's great to be here.
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Thanks for having me on. How about you?
I'm doing super. I'm glad it's, it's
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close to the weekend. Um, johnny, you
and your team at expense. If I have
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really flipped around some traditional
marketing strategies and have taken on
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a bottom up adoption model. Um, I'm
super curious of the, why, what, how
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when of that? But I'm also really
interested in talking to you about how
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you've supercharged this bottom up
adoption model with a vision for
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building a long lasting brand. Um, can
we, can you tell me what a bottom up
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adoption model is and what it looks
like it expense if I
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yeah, definitely. Um, so to jump right
in uh, expensive eyes customer
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acquisition model, what we call it a
bottom up adoption model. And basically,
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it means, rather than focusing on the
top of funnel the decision makers, the
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people buying the software, we focus on
building our product for the end user,
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the people who are experiencing the
pain point that could include Hagman's
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as well. But generally it would mean
for expense management company that we
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focus on the people who are trying to
reconcile their expenses, who are
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traveling, who are buying things on
behalf of their company. And so when we
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say that we have a bottom of adoption
model, it means that we are creating a
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product for that end user, making sure
that it addresses their pain points and
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ensuring that all of entering that
they're able to adopt our product
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regardless of if they're admin ends up
buying or not. I'm curious why did
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Spence if I expensive I take that
approach. Yeah. So, you know, typically
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at most b to B companies, you focus on
the decision maker, right? They're the
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ones who signed the contracts and um
Procure Software and find solutions for
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in order to reconcile their books or
whatever the business objective is. And
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so what we realized uh were two things
was one it's much more powerful to
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create a product for the person who's
actually using it because they're
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because they're the ones who are
actually using it, they do have an
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impact on what gets adopted, right?
Because at the end of the day, the goal
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is to get all that data, put it into
your accounting software and do it as
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quickly as possible and as efficiently
as possible. And so what we wanted to
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do was so one um that's kind of the
focus and then of course there are way
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more employees at a company just from a
numbers perspective versus decision
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decision makers. Right. And so if
you're able to um approach every single
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one of these individuals and monetize
them and have them be basically a
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champion or buyer of your product, then
all of a sudden you have a lot more
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entry points in uh in terms of creating
adaptability in of your product in that
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company. And so from um even from our
origins, that expense, if I, you know,
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we've always been, you know, a mobile
app, we launched just after Apple
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released their camera feature. And so a
lot of it has to do with enabling the
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person experiencing the problem to be
able to find solutions that can solve
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that for them. Yeah, well I am a huge
fan of you know, putting agency in the
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hands of employees, so I think that's
so cool. So I'm curious though, just to
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somebody who's not intimately familiar
with the bottom of adoption, how is
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this different from standard marketing
procedure? It means that even though we
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are a B two B product, we have a B to C
marketing strategy. Right? And so
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that's why you'll see, you know, our
campaigns are geared towards the
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consumer, the end user, you know, the
people who are around you, who are
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experiencing everyday life versus
specific people with a specific
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function. So that's why we were able to,
for example, launch a Super Bowl ad
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campaign that featured, you know, a hip
hop music video. We created our own
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soundtrack. Uh, and we created an
entire experience around that. And um,
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versus, you know, having something a
little bit more typical of what you
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might expect from expense management
software on a BdP product. Did that
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just on the marketing team did not
allow for creativity to abound because
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you weren't strictly marketing to
decision makers, but rather this BBC
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play absolutely what it enabled us to
do with kind of think outside the box
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of, you know, what are we as a product
really trying to do? And, you know, we
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were working with our internal team as
well as an external agency and we were
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thinking, what is again, what is the
pain point we're trying to solve, right?
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And where we landed on at the time, our
campaign model, for example, was like
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the idea of you weren't born to do
expenses. And so that really, you know,
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even that slogan in itself really
focused on anybody, right? Because no
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one really was born to do expenses,
expensive stock you want to spend as
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little time as possible in that. And
with that kind of slogan and you know,
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brand message, we were able to kind of
think completely outside of the box
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because all of a sudden the audience we
were addressing was anybody who had
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this problem versus a very small steps
that and we were able to get creative
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super creative, I love that I had a
extremely brief tenure in a position
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right out of college where I was in
charge of expenses and resolving and
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you know, budget and things like that
and I will say brief because I hated it
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so deeply, it was this like you know, a
very scary thing to have to manage, but
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also I feel like I don't know what I'm
doing um and having something like that,
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I love that you say we are important,
too expensive expenses because it not
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only like you know, puts power in the
hands of the people who are doing those
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things, but it gives them back so much
time and I certainly would have would
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have benefited from that. So speaking
of that, what are the key ingredients
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for a successful bottom up adoption
model? Yeah. Um, at the heart of this
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model is, you know, getting people
excited about your product and getting
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people to talk about your product
unprompted on their own wherever they
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are, right? So it could be in a
business meeting, could be at their
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company, could also just be, you know,
on a weekend when you're hanging out
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with your friends and someone's
complaining or venting about processes
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at work or whatever. Right? And so I
think the key ingredient is to, from
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BBB standpoint to have a well designed
product that's very easy for someone to
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pick up and learn and start using. And
if you're solving what their problem is.
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And in this case for us it was people
are spending a ton of time on expenses
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at the end of the month when they could
be doing something else. They will rave
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about it to their friends because
you're making their life easier
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allowing them to spend more time on
whatever it is that they want to do.
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And so how did you generate word of
mouth at the very beginning? Yeah.
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Great question. Um, expense if I
basically, we launched our app in the
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app store in I think about 2009 or 2010
and that was right after Apple launched,
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um, the camera functionality. And so
what we were able to do was we built
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our app with that camera like smart
scan technology. And that was really
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what pivoted us instead differentiated
us from the rest of the market. At that
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time. We were the only ones with an uh
an expense app that you can just bring
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along on your phone. And what that
meant was that you could just take a
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picture of your receipt. We will, our
OcR technology will read the merchant
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date and amount and just automatically
categorize that for you so that you
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didn't really have to do anything. And
that was a difference maker because no
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one at the time again had an app. No
one we're was able to use OcR too
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automate that process. And so I think
when, you know, people got sick and
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tired of their processes, their super
unable to find their own solutions and
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we just happened to be super lucky that
the app store just came out and they
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were promoting, you know what apps were
on there and we were one of them. And
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so we're kind of quickly spread that
way. And as well as just from our users,
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right? People who are downloading it,
seeing how easy it was to capture their
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receipts on the go while they were
traveling for business or conferences
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or things like that. And we just kind
of grew like wildfire from there. Oh,
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that's awesome. It's so cool. It's so
cool to talk to people who are at
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companies that were first movers in
their space and you're definitely one
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of those fuel. That's awesome. How does
having such a loyal customer profile on
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base? How does that help you with
building a long lasting company to?
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Yeah, I think every loyal customer you
have is essentially, you know, someone
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who is willing to talk about your
product and tell others about it
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without us asking, right? And you know,
it's much stronger if one of your
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friends tells you how great expense if
I is versus if I tell you how great
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expensive I is, right? Because
obviously I work here, so I'm going to
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tell you that. Um, and so what we like
what kind of went hand in hand with our
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bottom up adoption model was this idea
of word of mouth we were spreading
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because people were excited about what
we were able to do and when we were and
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what they were able to do with our
product without getting permission from,
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from whoever it is that their company.
Because you could use expensive I for
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free and you still can man, that's so
cool when you and your team talk about
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the components of a long lasting brand
and building, building a company that's
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made for longevity. What are some of
the key things you keep coming back to
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that have to be there? Yeah, that's a
great question I would say. The first
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thing is to really root your brand and
your company in the team's core values
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and beliefs and what I mean by that is
that if you are pushing out a brand
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that, you know, people don't
necessarily align with or that's not
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natural, then it gets very hard to keep
that up over time, Right? So it's a
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very simple example of this is, you
know, if it's very hot to be a green
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company right now, right? But if there
is no basis in your company being like
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pushing forward green initiatives or
being eco friendly, then you'll
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probably do it for as long as it's
popular, but you're not really, you're
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not, but once it's not popular, you're
going to stop doing that and then all
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of a sudden your image changes, right?
And there's no uh, consistency in that
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kind of brand and that kind of image.
And so when there's inconsistency in a
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brand, then you one stop. It's hard to
attract super loyal brand followers and
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people who love your product and what
you stand for. And to, it's really hard
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um, to keep the ones that you know,
initially did come to your brand as a
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result of them believing that you have
the same, you know, values. And so I
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would say, you know, definitely make
sure you your internal brand in your
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external brand have, you know, they
don't have to be 100% the same, but
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certainly the, the driving foundational
forces should overlap. And then I would
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say the second key ingredient is to
focus both on evergreen. Um, brand long
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term brand concepts as values as well
as cultural relativity, right? Because
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one will help you forged a strong and
consistent identity. Um, that will
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naturally draw in like minded consumers
and the other cultural relativity will
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help you identify points in which your
brand, your company can enter the
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conversation and be relevant to, you
know, what's going on in the world. You
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mentioned having the external and the
internal brand be built around some of
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these same tenants, but that they don't
have to match exactly are their
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processes and systems built into the
internal team at expense. If I that
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that also had for this long lasting,
that also support the long lasting
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brand endeavors. Yeah, definitely. Um,
I would say that, you know, I'm kind of
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preaching well, we do, right. Um, in
terms of we have a really strong belief
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in creating a human based company,
right? And what that means to me is
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that you think about a workplace that
you want, you know, we spend a lot of
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time at work and so you want to think
about like What kind of environment do
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I want to spend 40 or 50 hours a week
at? And what kind of people do I want
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to be surrounded by? And what kind of
um processes can allow for that, right?
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And so, for example, um one of the
things that we really push forward is
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this idea of a flat organization, so
nobody has any ones manager and you can
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kind of proposed projects as you are
excited that you are excited about that
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help our overarching goals. And so that
kind of comes from the core belief of,
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you know, people get bored if you if
you make them do the same thing over
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and over and over again, right? It's
fine if you have a marketing department,
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for example where one person does email
marketing one person does S. C. 01
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person does advertising but at some
point they're going to get bored of
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that because they're not learning new
things, they're not solving new
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problems. Um And so they leave right?
Because that's the way that your
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company is structured. And so the
approach we tried to take is to make
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sure that people are having interesting
things that they can solve or focus on.
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Which means that you know we have a
pretty flat organization and we also
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allow people to kind of hop in between
departments so to speak right and kind
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of focus on things that may not be what
they were originally hired for as long
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as it um At the bottom line. Oh man
that's so cool. So tell me a little bit
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more about that. Are there for the
people who are like I've never seen
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anything like this. How does this
function in actuality? You know? How do
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you keep clarity Around
responsibilities while also allowing
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people to go where their interests lie?
Yeah, I think that's so what we do is
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we have an internal document called
What's next that guides our overarching
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vision as well as practical short term
milestones. When I say short term, I
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mean you know in the next 1-2 years.
Right? And so we generally follow this
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road map. It's something that everyone
in the company agrees on. And if you
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don't know what to work on or you don't
have an idea, you can always refer to
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this document to make and and pick
something up. Right? And you know
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whether you're you're primarily an
engineering or marketing or sales or
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whatever it is, there's every component
of those functions like our exist in
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most projects. And so the one we have
that what's next talk to guide the long
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term like or the short term, sorry,
projects in the next one or two years
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and in terms of like figuring out and
encouraging people to follow their
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interests, there is we have like a
mentor program. Right? And so you can
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choose your mentors from any department
and they will help you focus on your
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both personal and professional goals
and find ways to tie that together. An
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example is my mentor is currently, he's
an engineer and he's helping me, you
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know, get a little bit more Technic
uncle and um you know, holding me
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accountable and showing me the
resources to learn how to boost sequel,
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which will help me quantify our
projects a little bit more without
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relying have the results of our
projects a little bit more, without
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necessarily having to rely on an
engineer or someone external. And so
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there are ways that we definitely
encourage people to, you know, expand
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beyond their initial um expertise and
um encourage them to continue learning
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and expanding in areas that they're
excited about. That is fascinating. I
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love hearing about just taking a very
holistic but business driven approach
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to the, the environment at work. I
think that's one of those things that's
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like how did we, how are we, you know,
bringing that into the world just now?
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But I'm so glad to hear that. Oh man, I
just know that anytime anybody allows
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me to take ownership of interests and
helping the company, I love that it
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feels like a privilege. So how do you
map out goals for such a long term
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endeavor of building a company that's
that's going to last until forever and
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ever? Yeah. So one of the things that
um we try to do is that with every
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product, every iteration, um everything
that we build, is it something that we
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can continue to build on? Right. So
we'll never build, you know, a one off
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feature that a customer request, if it
doesn't, you know, address a pain point
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that all a lot of customers have raised
and experience. And so what that means
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also is for example, um in an
applicable way, for example, is when
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you think about if you should build an
internal tool versus buy it or use a
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different software or vendor, whatever
it is to solve that problem. And so one
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of the ways that we decide is um is if
we build this as an internal tool, what
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else can it help us with beyond the
current project or problem that we're
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trying to solve? And if it's something
that you can continuously layer
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additional solutions or if it's a
solution that has, that solves many
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problems, then that's something that we
will um, you know, that will build out
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and so that's a very clear and simple
way to make sure that everything we're
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building, lays the foundation for many
next steps and it's not something that
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will just abandon or have to change. Um
you know, in the next year or so after
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that peace is completed, it sounds like
one of the, like through lines of so
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much of what you do at expensive eyes
is is keeping the goal posts the same
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and really just like everyone's eyes
are on the prize, allowing them to go
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deep and and be really involved. Um but
also like remembering the initial goal
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and not getting like sidelined by
various things along the way, which I
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think from just what I know is is
fairly rare. So that's that's
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fascinating and I'm curious what
results you've seen from taking that
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approach. Yeah, so, you know, on the
internal side, you know, kind of
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summarizing a lot of the things that
we've chatted about, We see a pretty
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small turnover in terms of our team,
right? And so we're pretty small
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company, we're just, I think we're just
around 140 people. Um and you know,
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we've been here for 10 years and we
have a huge customer base and all of
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that. And so um by minimizing turnover,
it means that, you know, we have a team
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that is lean that's super focused on
the long term vision, but they also
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have the context of where we come from
and how we build and how we work. And
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so rather than having people constantly
focused specifically on training, on
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boarding and hiring, of course we have
that, but that only that suddenly
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becomes a fraction of their work versus
their entire job repeated over and over
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and over again. And then the second
result, I think that's easy to point to
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is that, you know, because of the way
that we think about marketing and we
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think about product building, we've
been able to build this entire, this
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really big word of mouth engine that
resulted us really not having to do
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what's like traditional marketing. Um
for the first like 5 to 10, 5 to 10
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years of our of our existence. And
because people are excited about this
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product, they like it. They talk about
us, their friends join those people in
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the recycle repeats, right, And that's
helped us grow our customer base to
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what it is today. Oh, that's
fascinating. If if you were to mentor
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somebody else who's in charge of
implementing a bottom up adoption for a
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company that's looking at building a
long lasting brand, where would you
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have them start?
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Uh definitely I would suggest that they
write it down because you know, being
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specific about what your plan is, what
your goal is. And then also identifying
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what is the problem you're trying to
solve can help really clarify, you know,
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the next steps if you're really able to
identify and right out the problem
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super thoroughly, that will make
figuring out what the solution is much
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easier. And so you might find that, you
know, the bottom up adoption model is
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not the way you go, but but if you're
able to, you know, decide on what, you
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can only figure that out if you know
what the problem is that you're trying
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to solve. So that's definitely the
first step. That's, that's awesome. One
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thing that I wanted to jump back to as
I'm, I'm listening again and thinking
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about expensive eyes, long term visions.
And, and one thing you mentioned just
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kind of cropped back into my head was
this idea of letting people explore
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what they're interested in. Then you
mentioned that on boarding and
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implementation, that's not their only
job. It sounds like there is a piece
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here of being a generalist at expensive
high. Is that something that you
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encourage people to be or is it is it
um, that they're they're specialists,
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but they kind of are just like, you
know, collaborators? Yeah. So, um, you
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know, you kind of hinted at this a
little bit, but at expensive why we
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love, you know, and encourage the
generalist mentality and for us, what
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generalist means is it just means that
you're able to specialize in different
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things over and over and over and over
again. And then you're able to teach
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that specialty and generalize it out to
everyone else. So theoretically anyone
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else could pick up this thing that you
just learned, read your instructions
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and implemented themselves. Right. And
so, um and with health and all that
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shirt, but and so and so we really
value generalists because they are able
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to connect the dots between all the
different things that are going on in
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different parts of the company. It's
not just I'm only focused on marketing,
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I'm only focused on my KPI s, I'm only
focused on, you know, this section of
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the funnel and once it's passed this,
it's not my problem. Right? And so
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we're able as a result to find more
interesting holistic solutions that
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again, solved multiple problems versus
very specific problems. And it also
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helps us keep the bigger picture in
mind when everybody has context in
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various areas of the company and what
those areas are doing. Oh, that's cool,
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I love that. So a generalist is
somebody who is able to specialize over
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and over again and then this huge,
important piece, teach somebody else
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that is like the key to having shared
knowledge and preserving the vision and
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the goals and keeping everybody on
board. I don't want anyone to be a
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bottleneck, which, you know, I think in
more traditional companies, people
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prize that specialization because the
thought is well, they need me. If I'm
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the only person who can do this job,
right? And our mindset is well, if
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you're the only person who can do this
job, then you're not doing your job
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correctly and that gives a lot of
people freedom right? Like if you're
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the only person who can do your job,
you genuinely might turn down and opera
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other another opportunity somewhere
else, that's the right career move. And
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if you're the only person who can do
their job, nobody else can come in and
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fill in and again, just slow down the
process. That's such a cool way to
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think about it, because I definitely
have thought like make yourself
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indispensable be an expert and really
kind of, you know, you know, mark out,
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this is the boundaries of what I do and
I do this really well. I think that's
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so human and so relational to say like
I I'm really good at this and I'm going
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to bring up the next people along with
Me too, and I think that's a really
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interesting point you brought up too,
because um that's one way to be
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indispensable, right, is to um have
knowledge and be the expert in a
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specific area, but I think another um I
think what we're trying to get at is
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that indispensability comes from trust,
right? So if we trust that you can do
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something well over and over and over
again, um regardless of what that task
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is, than you are suddenly a much more
valuable employee than someone who
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isn't able to do that repetitively.
Yeah, and isn't that so true? I always
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loved drawing drawing parallels from
business to personal life, because I
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think I'm probably just like two super
relational, but but I think that's like,
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man, if trust is such a hinge upon
which all relationships turn or open,
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or whatever. That final phrases, um
that makes sense that it's the same way
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in business because business is full of
humans. I think if there was one thing
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you wanted somebody to take away from
this, if you're like, man, just do this
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or try this, what would it be? Yeah, I
mean, I think you kind of hit the nail
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on the head with that statement Olivia,
which was focused on the end goal from
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a human perspective, right? And then
and then if you're able to figure that
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out, you can, you know, generate
revenue, grow your profits, grow your
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companies because those are by products
of um a larger goal or mission or
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vision, right? And so, you know, figure
out as a company what behaviors you
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want to incentivize that will again
build up upon each other, Right? If the
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behavior you want to incentivize is,
you know, if you want to create a
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company that kind of works a little bit
more like a machine, right? Every cog
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has a specific role then if that is
your goal, then you know how to create
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a company like that, right? Um Silo
people and departments and you give
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them a specific task that they get
really good at and that they just
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repeat over and over if your goal is to
create a company. Um you know that like
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us, we recognize that you spend a lot
of time here, we want you to stay here
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for as long as you want to um forever,
whatever that looks like forever one
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time. So let's not get into that, but I
want you to stay here as long as
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possible and so we try to make the
workplace as enjoyable, as fun as
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interesting um in order to keep you
here, right? And that is a different
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type of business in a different type of
a set of principles. Um and it could be
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something as simple as, you know, we
have something called an offshore that
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we do every year where anybody in the
company who wants to can travel, uh we
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all work in a Random country um for
three weeks in a year and as long as
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they have good internet beach and um
you know, is generally easy to fly to
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from those countries. Um those are
pretty much the three criteria, you can
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bring your plus one along. Um our third
week is usually we preserve that as
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like a family week, right? Because we
want, we recognize that families play a
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super important part in each
individual's life and we want to make
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sure that you can bring those people
who are the most important to you along
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and experience the things that you're
experiencing as well. And so the third
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week is always super fancy. Um you can
bring your kids, you can bring your
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spouse or partner, whoever that is. And
um everybody kind of just, you know,
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stays at this one place and we work of
course right to be clear. Um but we
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also set up that week activities for
the kids and for the plus one um to go
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on and be able to explore, just enjoy
the space or whatever that is and so,
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but again, that's because our value is
that we want to create a place that
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people want are excited to be in, right?
And to include the people that are
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important um in their lives is one
aspect of ensuring that I love that and
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I also love that the requirements are a
wifi signal and beach. Yeah, that was
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definitely um something from early off
shores and it just worked really well.
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Why not? Yeah. And I think that's so
cool that you, for those three weeks,
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people aren't feeling and in the weeks
looking forward and post, they're not
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feeling the tension of like I want to
go travel, I want to be by the beach. I
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want to experience a different culture
and I have to do that as an unattached
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to work thing and carve it out of time
that I have to be keeping up with the
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rest of my life too. Like I think
that's a huge gift to employees to be
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able to say like this is an awesome
thing that we get to do as humans to
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travel and you get to be part of it on
working hours. So well, you've got a
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huge, you've got a huge fan of that
from me, joanie. How can listeners
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00:29:59.750 --> 00:30:04.350
connect with you if they want to learn
more about you or expense if I Yeah, so
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00:30:04.360 --> 00:30:08.380
you know, feel free to message or
connect with me on linkedin. Um it's
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00:30:08.380 --> 00:30:14.530
just joanie wang and um you can find
more information about expense if I uh
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00:30:14.540 --> 00:30:19.310
use dot expensive dot com or just even
expensive I dot com. And if you're an
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00:30:19.310 --> 00:30:25.800
engineer, we are always hiring. So
check out. We got our dot expensive by
380
00:30:25.800 --> 00:30:31.810
dot com. Well, thank you for chatting
with me on GDP growth. Yeah, thank you
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00:30:31.810 --> 00:30:35.770
so much for having me Olivia. It's been
a pleasure. Oh my gosh, absolutely.
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00:30:39.440 --> 00:30:43.610
Is the decision maker for your product
or service at BBB marketer? Are you
383
00:30:43.610 --> 00:30:47.830
looking to reach those buyers through
the medium of podcasting? Considered
384
00:30:47.830 --> 00:30:53.040
becoming a co host of GDP growth. This
show is consistently ranked as a top
385
00:30:53.040 --> 00:30:57.190
100 podcast in The marketing category
of Apple Podcasts and the show gets
386
00:30:57.190 --> 00:31:02.770
more than 130,000 downloads each month.
We've already done the work of building
387
00:31:02.770 --> 00:31:06.800
the audience so you can focus on
delivering incredible content to our
388
00:31:06.800 --> 00:31:11.550
listeners. If you're interested, email
Logan at Sweet Fish Media dot com.
389
00:31:14.940 --> 00:31:16.670
Yeah.