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In this episode, Jason Fried, co-founder of Basecamp, shares his beliefs around achieving business success in a modern world which tends to disproportionately focus on the massive success stories (the outliers). Jason gives his honest take on companies like WeWork, Uber, and Lyft that may give off the appearance of wild success but may instead provide an example of the dangers of perverse incentives. We get into Jason’s backstory, and how his affinity for optimizing efficiency and production in the workplace culminated with the creation of Basecamp, his very successful web-based project management software business. Perhaps most importantly, we get really deep into all aspects of work-life balance and what it really means to “work hard” (Stay tuned for an AMA-style deep dive into the topic of work-life balance with Jason in the near future). In addition, Jason provides many more valuable nuggets including thoughts on some common mistakes made by businesses today, the value of giving employees autonomy, how to take the right types of risks, why he doesn’t set any goals, and much, much more.
We discuss:
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An earnest student and powerful teacher, mega best-selling author Jim Collins goes under the hood and shows what all enduring companies have in common. We talk luck, leadership, and business longevity.
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Brian Norgard is the Former Chief Product Officer at the top-grossing mobile app in the world, Tinder. In less than 3 years, Tinder created over $11Bn in market value and with Brian's creation of Tinder Gold, Superlike and Boost, the platform has seen over 200m downloads and created millions of matches. Prior to Tinder, Brian founded Tappy, a mobile messaging application backed by Kleiner Perkins and acquired by Tinder. Before that, Brian built one of the fastest-growing Facebook applications in history (Chill) which reached over 30MM people. Fun fact about Brian also, at 25, Brian was the youngest GM/VP in the history of Rupert Murdoch’s News Corp after the acquisition of his first company Newroo where he served as the GM of MySpace News. If that was not enough, Brian is also a prolific angel investor with investments in Tesla, SpaceX, AngelList and Coinmine.
In Today’s Episode You Will Learn:
1.) How Brian made his way into the world of startups and came to be the youngest VP at News Corp at the tender age of 25? How did that lead to his becoming CRO then CPO @ Tinder?
2.) What is the No 1 reason that products fail today? What can founders and designers do to retain the simplicity of product over time? How does complexity change the product experience? Why does Brian believe that product experience is an art? Bring in science, to what extent does Brian believe testing and iteration is key to success in product? How does one know how long is enough time to test for vs too short and not enough data?
3.) When thinking about distribution, what does Brian look for in the way that people describe a product to their friend? How does Brian think that the most successful products bake distribution into the core user behaviour? How does Brian think about community building around product? Who has done this best in Brian's mind?
4.) How should the very best founders and product people think about product risk? How can they know when to use risk to their advantage vs be mindful of excessive risk? On the features themselves, how important is it for a product to be 10x cheaper/faster etc? Why does Brian believe that is largely VC jargon?
5.) What were Brian's biggest takeaways from launching Tinder Gold and seeing Tinder become the Top Grossing App in the world? How does that sort of event also impact the team? How does Brian think about whether one should celebrate those moments or push forward to the next goal?
Items Mentioned In Today’s Show:
Brian’s Fave Book: The Old Man and The Sea
As always you can follow Harry, The Twenty Minute VC and Brian on Twitter here!
Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.
Smart executives and business owners know that harnessing the power of AI, embracing the cloud, and prioritizing cybersecurity are the cornerstones of growth. Every day, Wrike helps thousands of companies worldwide do this by revolutionizing how they approach work. Our secure, automated,cloud-based work management tool helps businesses future proof their cultures and evolve fast. How? Wrike ‘s award-winning, collaborative, all-company platform keeps everything in one easily-accessible space. Time to embrace next-gen work management at the executive level and encourage lean thinking from the top down. With Wrike, crushing your objectives and mitigating risks at scale is a cinch. Give Wrike a try for free.
On this solo episode Sean discusses one of his key mental models, “Gaps in Judgement”.
“Gaps in judgement…. We all have them. But how do we become better at identifying them? At understanding them? At lessening the surface area from the unknown to known? What you don’t know tends to be just as important as what you do know. “
Get the Latest from Sean right here – https://bit.ly/2RH3eaD
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Raja Dhir is the Co-Founder and Co-CEO of Seed Health, a microbial
sciences company pioneering applications of bacteria to impact human
and environmental health. He’s an expert on the microbiome, and is able to speak eloquently on a number of topics related to gut health.
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