The biggest challenge is a very human one. You’ve got people who are good at running a small company and that are very comfortable in a small company. But we had ambitions to be a very big company. You often find that the right people for the early stage of a company’s growth and development are not the right people for later stages. Certainly, the most difficult thing I had to do was to make those difficult judgment calls.
The reason it’s so hard is, partly, because these are quite subjective judgments, so you can’t just type a formula into Excel that will tell you who you should keep and who you shouldn’t keep. It’s also a very human challenge because you get to know people, you get to like people, you become friends with people. Being in a start-up, it’s very intense and when you go through a very intense experience, with a bunch of other people, you become friends. You are bonded through that and you’ve then got to step back and make tough decisions about who should stay and who should go.
If you don’t do that, the company won’t scale. It’s a really important ability to have, at a senior level, in these sorts of companies.
Every case is different. There is no script that I would follow. Of course, it’s also a really positive thing. I don’t want to dwell on the downside of people who don’t want to stay the course or aren’t right, because most of what you are doing, is actually developing people to do more. The company is growing all the time. Everybody is becoming responsible for more things, because the business is bigger.
You might not get promoted, your title might not change, but instead of looking after 10 customers, you’re now looking after 100 customers. Instead of managing a marketing budget of £1 million, you’re now managing a marketing budget of £10 million, without anything in your job description changing. People need to develop, in order to be able to cope with that kind of scale. Most of what you are doing is actually really positive, because it’s helping people to deal with additional responsibility.
There are four main things that I look for, that I think help you to be successful, and I think of them in pairs. The first pair of things is intelligence and integrity. Intellectual ability, ability to assimilate new information fast and understand and think across different disciplines. Integrity, I don’t define in a minimal way, such as don’t steal money and don’t do unethical things. I define it as being able to stare the truth in the face and being very straightforward about facts. It’s just so much simpler and more efficient to work with people who operate in that way. If you have people who want to tell big stories and paint the facts in different ways, it just takes time to get under the skin of the issues and figure out what’s really going on. Whereas if you have people who have super high integrity, they say, “Look, here’s the situation; this is the problem. I did this wrong or this thing happened on my watch and it shouldn’t have done. Now, here’s my proposed solution to the problem.” It’s so much simpler to work with people who operate in that kind of transparent way. When I talk about integrity, I really mean just people who are truth tellers.
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