Post 6 When I started these posts, I said that I would share some observations gained while building two companies, through the lens of how it helped me to learn, grow and evolve my world view. But so far, I have only told you the background story. Observation #1- Most great people want to work hard, be challenged and have the opportunity to advance their lives and careers. If you can provide that, in an environment where they feel supported, inspired, and safe, they will do things that you previously may not have thought possible. When people ask about what our team did together more than a decade ago, it is usually about the fast launch and scaling, the AUM growth and the depth of our connections to the RIA community. Those things are well known and are all true. But from my perspective those things were the results. The “what.” The powerful part of the story and the experience that changed me forever, is the “how.” The thing that made all of those results possible, was the team that we were able to assemble to join us initially and along the way. Period. Our secret weapon that gave us the ability to hire such great people at our young age as a firm, was that principles-based, culture-first environment that was purposefully built even before the firm got going. It was the daunting thing that definitely felt a bit scary out of the gate, that ended up being the secret sauce. Almost every firm has a culture statement and its own set of values. Nothing unique about that. The thing that made us different, I think, is what was actually written and how committed we were to it. Our culture statement wasn’t about being perfect. It was about starting out as very good and working hard every day to get a little bit better. It was aspirational, yet uncompromising. It talked about how we wanted to treat each other, our clients and our partners. It talked about how we would deal with the inevitable failures that we would have and how they could sow the seeds of our future successes. It talked about how we would deal with conflicts with each other and be known for creating productivity from it. It talked about admirable traits, like quiet confidence. In the early days, putting all of that out there felt vulnerable, but the feedback was immediate. Turns out the best and brightest want to work in a high performance, high growth environment where there is a known and respected set of agreements around how things get done. Things that are real and observable on a day-to-day basis and nobody is immune. Particularly those at the top. The thing I will always remember is how that place made me feel when I was in the office. It was special. To the business leaders reading this, I can’t fully quantify the enterprise value that this created, but it was a lot. To anyone reading this who struggles with the work environment that surrounds you, don’t lose faith. You don't need to compromise your values to achieve success. Be well, Erick
Great post thanks
CFO & COO l Finance Professional l Investment & Operations l Alternative Investments (Alts) l Fund Accounting l Regulatory Compliance
4moExcellent post, Erick. Have really enjoyed reading your posts.