# How To Operate and Scale A Business ## Метаданные - **Канал:** Gary Vaynerchuk - **YouTube:** https://www.youtube.com/watch?v=o7dPLVm3tSs - **Дата:** 20.11.2023 - **Длительность:** 39:19 - **Просмотры:** 24,023 ## Описание In today's video, I'm joined by the CEO of Carta, Henry Ward, where we discuss leadership, the struggles of middle management, and how to be more efficient with your time in the workplace. Business owners and leaders especially those in middle management will get so much value out of this video. Timestamps: 0:00 - 0:54 Intro 0:54 - 4:19 How Carta started 4:19 - 10:05 Henry's journey as an entrepreneur 10:05 - 13:08 Being consumer-centric 13:08 - 18:56 Tips for working with an active board 18:56 - 23:05 How to deliver feedback to your team as a leader 23:05 - 26:51 Entrepreneurship and the school system 26:51 - 30:24 How to help middle managers grow 30:24 - 35:26 Business lessons from 2 CEOs 35:26 - 39:19 Final thoughts — Thanks for watching! Join My Discord!: https://www.garyvee.com/discord Check out another series on my channel: Gary Vaynerchuk Keynote Speeches: https://www.garyvee.com/keynotespeeches Gary Vaynerchuk's thoughts on NFTs, Web3, cryptocurrencies and more: https://www.garyvee.com/web3nfts Life, Business, and Career Advice l Gary Vaynerchuk Original Films: https://www.garyvee.com/gvoriginals How to Make Money at Garage Sales l TrashTalk: https://www.garyvee.com/trashtalks Inside the Life of a $300M+ Company's CEO l DailyVee: https://www.garyvee.com/dailyvees — Gary Vaynerchuk is a serial entrepreneur and serves as the Chairman of VaynerX, the CEO of VaynerMedia, and the Creator & CEO of VeeFriends. Gary is considered one of the leading global minds on what’s next in culture, relevance, and the internet. Known as “GaryVee,” he is described as one of the most forward thinkers in business – he acutely recognizes trends and patterns early to help others understand how these shifts impact markets and consumer behavior. Whether it’s emerging artists, esports, NFT investing, or digital communications, Gary understands how to bring brand relevance to the forefront. He is a prolific angel investor with early investments in companies such as Facebook, Twitter, Tumblr, Venmo, Snapchat, Coinbase and Uber. Gary is an entrepreneur at heart – he builds businesses. Today, he helps Fortune 1000 brands leverage consumer attention through his full-service advertising agency, VaynerMedia, which has offices in New York, Los Angeles, London, Mexico City, and Singapore. VaynerMedia is part of the VaynerX holding company, including Eva Nosidam Productions, Vayner3, Gallery Media Group, The Sasha Group, VaynerSpeakers, and VaynerCommerce. Gary is also the Co-Founder of VaynerSports, Resy, and Empathy Wines. Gary guided both Resy and Empathy to successful exits – which were sold respectively to American Express and Constellation Brands. He’s also a Board Member at Candy Digital, Co-Founder of VCR Group, Co-Founder of ArtOfficial, Co-Founder of VaynerWATT, and Creator & CEO of VeeFriends. In addition, Gary was recently named to the Fortune list of the Top 50 Influential people in the NFT industry. In addition to running multiple businesses, Gary documents his life daily as a CEO through his social media channels, which have more than 44 million followers and garnish over 173 million monthly impressions/views across all platforms. His podcast, “The GaryVee Audio Experience,” ranks among the top podcasts globally. He is a five-time New York Times Bestselling Author and one of the most highly sought-after public speakers. Gary serves on the board of MikMak, Bojangles Restaurants, and Pencils of Promise. He is also a longtime Well Member of Charity:Water. ## Содержание ### [0:00](https://www.youtube.com/watch?v=o7dPLVm3tSs) 0:54 Intro you're being over optimistic and you don't want to scare us so you're trying to do something but let me give you the preview we're going to see you in 90 days and you're gonna be on the other side of this so you're going to have to admit to the problem and everyone at this table besides me cuz I'm ridiculous but the rest of the people here are much more straight and they're going to be pissed so why don't you just tell us that shit's [ __ ] up now and let us help you for the next 40 minutes instead of saying it's all good because to your point this let me hold it in and maybe I'll make it work by the time I see them and 90 days when you see them in 90 days and it's double bad AKA you didn't say [ __ ] 90 days ago and now you're saying it's an 11 out of 10 issue whereas 90 days ago you were saying it's all fine AKA it's a zero or a one or two out of 10 you're in deep [ __ ] cuz you've lost Trust of the board and that's when the seeds start to sprout of are you the right person to run this company attention is the number one ### [0:54](https://www.youtube.com/watch?v=o7dPLVm3tSs&t=54s) 4:19 How Carta started asset vayer Nation how are you another exciting episode of the Gary audio experience decided that we've done a lot of motivation we're doing a lot of innovation but I want to get into operation the depths uh I was really excited when the opportunity came to have this guest on the show because I think bringing leaders who actually did it are actually doing it are Building B you know for me building a business that from afar I admire in its longevity it's not a fly by night it's not a quote unquote unicorn even though this is probably a unicorn in the way but it's defied but like you know like it's not it's a unicorn AKA startup that's a big company not a rhinoceros with a unicorn with painting its horn and making pretend it's a unicorn AKA a lot of the startups that are grossly overvalued and then disappear off the face of the Earth because they were overleveraged and weren't actually building an actual business and I want to tap into some of the minds of the people that are doing it because so many of you are on your journey of doing it and so that's why I asked Henry to be on the show Henry welcome please tell everybody your full name what you do what the company is and a little bit about the company and I think we should get into a meat and potatoes episode here of the audio experience thank you for being on brother yeah thanks Gary thanks for having me yeah my name's Henry Ward I'm the uh co-founder CEO at Carta uh you know we do we're about 10 years old we uh do we have three lines of business uh we're about 350 million in Revenue about 60% of that comes out of our cor cap table business which where we serve startups and manage their cap tables uh the another 30% comes out of our uh fund Administration business where we manage the back office of venture funds and do their financial accounting and reporting to their investors their LPS and then we have a newer uh business which is about 10% uh of the business now it's a couple years old and it's our private Equity business where we're basically managing the cap tables and fund Administration for private Equity um companies and funds how did it start you know we saw this Capt problem it was sort of interesting um people in 200 you know 1314 when we launched were physically mailing Paper Stock certificates like if you see the old movies with the yeah with the railroads brother look at this oh you've got four in your room yeah Facebook Twitter and tumblr beautiful all pre pre- Carta uh 20 fall 20067 nice really nice you know what the valuations of those companies was back then totally and they're beautiful they're embroidered you know they look exactly like the stock certificates when they invested in the railroads and uh and we were still doing that in 2013 uh and we said hey can we do something like what PayPal did for cash you know can we dematerialize these stocks for de Vegas instead of um sending paper uh instead of paying you know mailing a check or mail in cash uh could we um send Equity through email the way PayPal uh sent money through email can we do that through the cloud and that was the original idea uh could we push all this stuff in the cloud and then once you did that once you dematerialized uh equity and put it in the cloud um suddenly the option value ### [4:19](https://www.youtube.com/watch?v=o7dPLVm3tSs&t=259s) 10:05 Henry's journey as an entrepreneur on that exploded you know there's so many things we could do cap table management we could do option portfolio management we could do liquidity we could do fund Administration it just it took off we entire ecosystem once you got things out of paper how quickly did you know this is a great question for the audience how quickly did you know we got something here you know we were in beta I think we kind of launched a free version of this product maybe in July of 2013 I'm starting to interrupt I remember it vividly I was so pumped it existed that's awesome the con the concept that I was able to just forward it to somebody be like take care of this and like the thing I needed to be done when I was making an investment was done it was massive for me someone like me that cares about time over everything like it was hu I remember those early days like I was like I remember thinking like this just changed my life totally well thank you for being an early user it was um you know it was a tough start like a lot of these companies where you're doing something completely new you know nobody had bought C Capt software before 2014 uh it just didn't exist you know there there's companies where you're building something that already exists like mongodb is like my favorite example right people had databases mongodb was like I'm building a better database and you didn't have to convince people to buy a database you just had better database uh and cap tables was different nobody ever in the history of the world had ever bought a cap table uh software product before and so you had to convince people to buy something that they never bought before uh and they never thought they needed and so it was hard to get going you know it's hard to convince people to do something they've never done um and we launched kind of an early beta in July 2013 that barely worked uh and then we started charging in January of 2014 that's when we're like okay and we earned our first $120 on January 7th from uh a friend and Company startup in Austin Texas uh and it was amazing it was incredible the first time you build something as an entrepreneur that somebody pays you for is a magical moments I'll never it really you know what that's a great call out I I genuinely remember like the first Gillette deal with fer media AJ was still in college I vividly remember kind of the first things I sold at my dad's liquor store when I was 15 Kenwood 1992 1990 Chardonnay like literally I can sit here and tell you Kenwood 1990 chardonay from Sonoma Valley is like ingrained in my heart this goes a little bit to why I want this episode Henry I view you from afar and we're getting to know each other a little bit here as a like an actual entrepreneur and what I mean by that is it's in when you like love the game not the thing that has become which is like it's so cool like quote unquote everyone is you know like I love playing sports but I'm not a professional athlete when you love the game like you can like I don't think a lot of people can actually talk about the first thing they sold the modern entrepreneur right like yeah they can remember when they raised the capital they can remember this that the other thing but like the actual first client especially if they're five seven years in this new era but I can remember the first wi is sold for my dad the first client bner media had like all of it like vividly totally it's amazing I remember we made $800 in January of 2014 and it was the most amazing $800 you know we made this year we'll put a $100 million of bookings on the board right but and the thing is even at you know uh 2,000 employees uh you know 350 million in Revenue going to 450 uh I spent you know half my day I talked to four customers yesterday that were unhappy and that's what you do that's no different than when you're a seed founder like you're just if you love The Game you love talking to customers look right now back to your point three hold am I right about this 3:45 pm today client issue I have 2,000 employees how many employees you got about 2 also yeah there you go right it's amazing keep going yeah no and and you know so you know at January we made 800 bucks we're like okay well at least somebody will pay us for this so that was amazing so that was I guess Milestone one somebody paid us for something we built uh which was a super huge high and then I would say that the second one um uh was August of that year and we we moved our you know back then you still called you know to order something you know uh and so we had a phone system and it was one of these things you called in and you pressed you know one to talk to sales two to talk to you know support and we changed our phone system and broke something so that when you clicked one and it went to sales it hung up on you uh you know the classic startup story like we had no idea what we're doing and uh so it just hung up on you if you tried to talk to a salesperson and we sold more in August than we did any month prior and we didn't even know until halfway through the month somebody C went in through support and was like hey guys I'm trying to give you money to buy your software and I can't get to anybody you know what is going on over there and I was like oh we have something people are beating down the doors uh to get this product and I would say the third one was we finally had so many sales orders we couldn't onboard them fast enough and this was in uh January of 2014 a year later sorry December of 2014 and we're going to Christmas uh and I told the sales team uh all five or six of them at ### [10:05](https://www.youtube.com/watch?v=o7dPLVm3tSs&t=605s) 13:08 Being consumer-centric the time I said you have to stop selling you're not allowed to sell uh I'm going to put you on a draw for three months and all of you are going to be onboarding managers and we're going to close the doors because our customers are Furious because they bought but we can't deliver yeah because we're selling too much and that was the moment do you yeah do you think that is an incredible common mistake of successful like obviously a lot of people end up figuring it out like I actually think the story you just told if you even have the talent and the product Market fit to get to that problem you 7. 5 out of 10 times know what to do in that moment to get to the next place sometimes technolog is not there you might remember frster because you're a tech dude you know like frster being down all the time really eliminated it from having the opportunity of becoming Myspace or Facebook right I mean Twitter got lucky a little bit because there was no unique competitor there was pounce if you remember um that PO for a while but I mean Twitter was a real problem in 2006 s eight just wasn't up y then there's the other thing like underd delivering on what you so big issue for me in a client service business because I'm completely human based you have a smart business I have a stupid business if I wasn't building something bigger on top of it and so you know I think for us it's very hard when you're scaling people as you can imagine with technology uh or product it's a lot quote unquote easier when you get your supply chain or your Tech team down but do you find that to be a common problem and then more importantly for the people that are in it right now that problem like you've over promised and underd delivered do you recommend they take your track which is a drastic T tack or do you feel like they should do things that have worked for me in the past which was more of a okay [ __ ] it I'm just going to hold my breath and fly the pl keep flying the plane but fix it while I'm flying the plane and make sure that doesn't get out of whack both what's your thoughts on that yeah well so we did this uh you know we didn't really have marketing back then so our version of marketing was me uh and I and my assistant and or chap of staff I think and I asked my cha staff I said hey go talk to 50 customers and interview them and ask them how they heard about Carta uh why they decided to buy Carta and what that sales cycle was like and all of them kind of heard a little bit different somebody came in from a friend an investor Google search whatever it was but the one thing that was 100% consistent 50 of 50 uh customers uh asked somebody else who was a Carta user if they had what they had heard of Carta uh to decide whether to buy and so we knew that the most important thing we could get right is that when that phone call happened the the person who did have experience with carda would say a good thing that was like the number one thing nothing else mattered uh and so I said it doesn't matter as we have to make sure that the reference checks go well and if people aren't happy it kills everything and I'm willing to take you know a three-month uh closing the ### [13:08](https://www.youtube.com/watch?v=o7dPLVm3tSs&t=788s) 18:56 Tips for working with an active board doors on sales uh to make sure that's always true and it was a tough decision right you know to tell the board hey I'm not gonna sell for three months that's a tough conversation to have segue back to like me wanting it to be a meat and potatoes table talk to me about the pros and cons not just from your perspective because you have yours and obvious there's been a lot of success congratulations so I have a funny feeling people are feeling pretty decent on the board uh at least at this point but tell the kids or the ogs I I'll tell you who's a big listener to this Henry that I think we can inspire a 47 yearold very successful corporate player who she or he feels they're ready and because they've been successful for 25 years in that environment are going to actually have like a real board and real investors right talk me through your perspective effective but more importantly I was going to say equally but I'll actually say more important because and Through The Eyes of many of the founders you've been around over the last 15 years the watch outs and the ways to best use a board let's do that yeah so I have two tips on this that have worked well for me so one is you know the boards are always hungry for information they want to know what's going on you know Etc uh and one of my favorite lines from the Ben Horowitz book is you know apply pressure either feel pressure apply pressure and I think you know he's really talking about executive teams when the exec teams are like hounding the CEO and the CEO's like oh my God I don't know what to do you know everyone's on me I feel so much pressure he's like turn the tables apply pressure or feel it I think that's true with the board and so I used to tell the board you know hey I want to put you to work uh and we had a what's called an adopted business unit program where I'd have the board each board member would like pick a business unit so I'd have Matt you know work on cap tables and I have Mike work with the liquidity team and they'd meet with the team once or twice a month and it was great because one they helped me they helped scale me in terms of the strategy and sort of influencing the organization I could run a flatter organization that way and two when the board meetings came up they all had firsthand data it wasn't just me try to explain everything like everybody kind of had data so when they're like Henry what's going on with the liquidity business I'd be like Mike you know um and so it really brought them in the second thing I would say is um the gold to you know the number one rule on boards is don't surprise them like that's just it like as long as you never surprise the board you'll be okay uh and so that takes a lot that is the classic mistake that very entrepreneurial de someone like me who would be like I'll figure it like never had a board before like I and I I really don't have board life the where because I knew that this would be a huge mistake of mine and ironically I'm on boards and I help the Gary in that situation I see the C's doing the mistake I would make and I make it safe for her or him be like hey I know what you're doing it's okay because I don't want to be a hypocrite I do this [ __ ] all the time you're being over optimistic and you don't want to scare us so you're trying to do something but let me give you the preview we're GNA see you in 90 days and you're gonna be on the other side of this so you're gonna have to admit to the problem and everyone at this table besides me because I'm ridiculous but the rest of the people here are much more straight and they're going to be pissed so why don't you just tell us that shit's [ __ ] up now and let us help you for the next 40 minutes instead of saying it's all good because to your point and this was I'm glad you went there because I really want to give you the I'm on the podcast all the time I can put out content to these people all the time I want them to hear different voices this let me hold it in and maybe I'll make it work by the time I see them in 90 days when you and it's double bad AKA you didn't say [ __ ] 90 days ago and now you're saying it's an 11 out of 10 issue whereas 90 days ago you were saying it's all fine AKA it's a zero or a one or two out of 10 you're in deep [ __ ] because you've lost Trust of the board and that's when the seeds start to sprout of are you the right person to run this company and if you have a board that has say in you being AKA you didn't structure in a way where you could actually get ousted you better be real careful AKA forget about overpromise under deliver under under promise to your board and overd deliver yes uh 100% and totally with you Gary I'll even raise you one which is like even if it's like you know you're preing Brad news whenever anything you know it's like I think it's going to be a little controversial or you know people will have different opinions on or anything I do what I call the rounds which is like I text I call all the board members one-on-one and I say hey you know I want to give you a heads up at the board meeting I'm G to bring up you know such and I wanted to get your you know I want to preview this with you before you know it's a group setting so you can tell me what you think you know blah blah and it makes them feel special connected you know they can tell you things that they may not want to say in front of Seven other board members you know Etc and it's incredible amount of work like you know to call seven people eight people and have the same conversation you know to to do that but it's that work that instills the trust so that by the time the actual board meetings happen everybody already knows what's going on it's been so it's been quote unquote sold before you even had meeting totally and I like when my board members zone out in board meetings and like they're bored and they're like we've seen this like I actually people like my exec teams always like come out of these board meetings go I don't they I Henry were they interested do they you know do they care and I'm like that I'm like oh my God I'm managing the board so well when they're like enough we get it already like that means I've overdone it I've overc communicated ### [18:56](https://www.youtube.com/watch?v=o7dPLVm3tSs&t=1136s) 23:05 How to deliver feedback to your team as a leader everything there's no surprises like yeah when the board is literally bored uh like I've done my job well by the way get your board bored is like a book on managing the board it's definitely a real blog post hen um what's the biggest mistake you made in 134 15 16 as a leader that you're better at I talk a lot about me being better at cander I used to struggle with delivering bad news because I have a disease that's called I love my employees and I mean it I love people you get you're getting to know me a little bit here I'm just them who I am like I really like people and I screw up and I've gotten way better and especially last three years I wrote a book that touched on it aggressively I talk about it my content more cander was my kryptonite if I asked you 2013 145 Henry versus 20223 going into 2024 Henry what's been the biggest Gap you've closed as a leader yeah well I have two thoughts one on the cander side I've always had a problem with the kind of the cander radical cander thing I remember talking to Kim about it and you know I love Kim I think he's fantastic but I always said you know the problem I have with the book is it's a one-size fits all like radical cander kind of works with no matter who you're talking to you know whether you're talking to a shy you know 23y old first job employee or like your 25-year veteran CFO that you've worked with for six years right like it's the same and everything I know about people is uh know your audience like how you talk to them yeah it matters to your point Kim's awesome like by the way I call it kind cander at vainer media because I think radical people feel like oh let me give you the purest form of it which I actually think seeps into people's real struggle with cander which is they don't they don't deliberate with enough empathy compassion sympathy and context totally I would even go so here's the I do this all the time in my management training right you go like go okay so manager's working with the their employee and the employee not doing great uh in the manager's View and the manager says okay you know so I'm going to deliver the feedback and they basically say you know employee you know I don't think you're doing great and you know I always ask you know the the most important thing to figure out is it doesn't matter yet what you think what matters is what the employee thinks right if the employee agrees with you and is like I don't think I'm doing great either that's a very different conversation that if the employee like I don't know what you're talking about I'm crushing it and so the first thing to say after you say hey I don't think you're doing great is what do you think right and if they're like uh I don't think I'm doing great either you're like amazing so let's talk about how I can help right that becomes a collaborative discussion uh of fixing it if the employees like uh I'm crushing it I don't know what you're talking about that's a very different conversation right and then the second you know if you go down the decision tree the second thing managers always do is um I say okay what do you say if they say manager you're wrong I'm crushing it I don't know what you're talking about the manager will always what they do is they double down they're like no here here's all the reasons why you're not doing good right and I'm always like that's the losing battle never do that right and my advice is always to say to the to the employee I said oh amazing I'm so glad you think you're doing well why do you think I don't think you're doing well and right so you lead with curiosity um because that's the thing to figure out right it's not the question to solve is not if the employee is doing well or not the question to solve is why are you seeing the same thing differently that's the question to solve you know it's I love you for that because we do something here where I train my leaders to say hey Henry in my subjective opinion from my purview which is all I can really rely on and the data that I've gathered from others I believe you're not crushing it instead of like this is definitive fact right and that really triggers people because we know this a lot of managers are wrong lot times are right lot of times are wrong by the way I watched managers for years give feedback to ### [23:05](https://www.youtube.com/watch?v=o7dPLVm3tSs&t=1385s) 26:51 Entrepreneurship and the school system people only because they wanted to keep them down because they knew that person was better than them totally 100% idiosyncratic manager bias I think is one of the worst uh diseases in an organiz I couldn't agree more brother yeah let real quick just to almost like we interrupt for this commercial break I really do love your product and so one more time who who's listening here should really discover Carta and why and what does it do and where should they go oh thanks for letting me do that I really you know what's funny people I've done this podcast a long time I never do this but I wanted to do this for two reasons I wanted a steak and potatoes meeting which we're doing and honestly I really think I'm about to help a lot of people who listen to the show so I'm being a little selfish and I'm thrilled that it's good for you yeah thank you so uh you know we serve uh uh two types of customers so one is if you're an entrepreneur running a company uh whether it's you know a two-person startup whether it's uh an LLC you know um small business in the midwest like we have products for you basically we want to help you manage your shareholders um your stakeholders your employees so we'll help you on understand the capital structure of your business that that's what we do for entrepreneurs uh and then on the other side if you're a a venture fund manager or a private Equity Fund manager will help you manage your fund and like Gary you're a customer of ours you know for your Venture fund um and we help people like you know I have this kind of view of the world which is you know America as a country we're like great at producing um accountants you know and lawyers and doctors like we're really good at that um but we're really bad at producing entrepreneurs like we just don't we don't produce them what happens to them G to show you something Henry that is a this is my report card look at my class rank it looks like mine yeah about that you and I have started a company from scratch with 2,000 employees knock on wood are doing extremely well the I mean it was literally the 11th worst student in my class you're absolutely right we now look I actually would argue a different point I actually think America is great at creating entrepreneurs which is why it creates entrepreneurs in the macro in the micro AKA School system and like a lot of social norms we have the inspiration for entrepreneurship here we put it on a pedestal there's plenty of I was born in a place where we demonized it was called the USSR I was born in the Soviet Union you know and so I think that but to your point we definitely don't teach it you're either born with it and you fight the system you're the one that really bothers me which I think is what you're touching on you're born with it and the system and your parents take you out of it which is the devastating one some of the greatest entrepreneurs were talked out of it to be lawyers you know and do that crushes me um so I I love where you're going with that so go ahead well to your point yeah you know entrepreneurs in America we're you know we're celebrated but we're the aberration right we're the weird ones to your point your report card shows it right you're the exception not the rule uh and uh that that's why I say like it's a weird thing and it just goes from like the way we teach school right School is taught you go Kindergarten first grade second gr you know 11th grade you know freshman in college and then you become a junior associate and then a senior associate and it just there's a ladder and Entrepreneurship there's no ladder it even goes to like the way we do school like tests right it's so weird tests you start at 100% uh it's bounded and then everything you get wrong you get dinged and you go down as opposed to you ### [26:51](https://www.youtube.com/watch?v=o7dPLVm3tSs&t=1611s) 30:24 How to help middle managers grow start at zero and then everything you get right you go up uh and it's unbounded because that's what entrepreneurship is you start at zero and you go up and it's unbounded um but that's everything we're taught in school is the opposite what um what have you Noti here's a good one a lot of people for that you have 2,000 employees I have 2,000 employees what does a middle manager call it a director wanting to be a VP everybody's got different terminology but like what does a middle manager in your company do to take it to the next level and H and you could be very specific of how it works at CA and how do you feel that maps to advice that I think we have a ton of middle managers great you know six figure salary doing their thing but really do want to grow and from a CEO's point of view from a real entrepreneur and been around the kind of tech companies that are really there's a lot of companies that fit the profile of what you do and and a lot of them are coming and are being built now and just and even a lot of them had to be at this point of the size of your and my company and that was 30 40 years ago but middle manager what are some of the things you're seeing that help somebody Propel to a VP or SVP or EVP or take those next two steps double their salary more responsibility more challenges enjoy their day-to-day more what are some of the cliche things you think about when you're trying to help a middle manager grow yeah I you know I was um like when I was 18 I enlisted in the Marines uh and I went through kind of Officer candidate school and college and all that and some somebody said to me um he goes you know the the difference between M military life and civilian life is in the military you're judged by the worst thing you did and in the civilian life you're judged by the best thing you did and in most companies middle managers are judged by the worst thing they did right your job is to not mess up right and to like do the right thing and be popular and liked and you know all that kind of stuff and not piss off your boss and you know not have any dings um and that leads to a very defensive you know middle management core uh and really a calcification of an organization uh I hope at Carta uh we're a company where we measure middle managers on the best thing best things they've done and so if that's true uh that really means like we forgive mistakes we don't care about that kind of stuff what we really want to see is a middle manager Bend The Arc of Carta right like a middle manager just like they may do six things that don't work out but boy that seventh thing that they did WOW right like that gets on my radar like I'm like who was that person that was in that meeting what did they just do bring that person back to my office I want to hear more about it 100% um and and but that's really hard it's really hard to build and it's hard for them not to fear the ramifications of shining most middle managers are scared to shine because they know when they leave it becomes political and their boss BP whatever are like what the [ __ ] was that that's right and they think that person can get them out before you and I can get them up that's right it it's threatening right because their boss is like one if my middle man if my manager you know that works for me uh makes a mistake that's a reflection on me so I'm going to punish that and then if they actually do something amazing right uh what does that make me look like uh they they're better than I am and so that's why middle management is such a like an I would ### [30:24](https://www.youtube.com/watch?v=o7dPLVm3tSs&t=1824s) 35:26 Business lessons from 2 CEOs almost describe it it's like the oppressed know uh middle class of organizations and creating a dynamic uh middle Management Corp I think is one of the biggest challenges of running a growing organization I couldn't agree more um what have we not touched on in the last seven or eight minutes uh you know on the scale and operational side you're sort of talking about the um what I would have done differently you know and how things are different from like the first five years versus the second five years of this company and I would say you know the the job changes quite a bit for the CEOs that are out there that are thinking about early stage uh versus late stage and you know there's this kind of inflection point where I used to be able to keep the whole uh company in my head like I used to know the whole business in my head like I knew everything that was happening uh and there becomes this inflection point where I feel like I don't know anything that's happening and it's like you know I also describe it as you know when I talk to early stage Founders uh nothing happens unless you make it happen right that's what it means to be an early stage founder it's like you are the Catalyst you create the energy of the organization and then you get to you know the scale urac G and like things just start happening and you're like why are these things happening right like I don't want things to happen and they happen let me ask question this is a good one because for the hundred people in the next year and the thousands over the years that list listen to this for the 2,000 plus employees like you and I I'm G to ask you a question how many not just your direct report the SE Suite how many family members do you have in the 2000 that are your eyes and ears they might be a director they might be an Ops HR I just want I'm curious what your answer is when I say family members you know exactly what I'm saying the [ __ ] homies the one that eyes and ears the double agents like the ones that are really helping you mitigate or get clarity on all this [ __ ] to your point I think we're opening an office I didn't know about that I'm like beside myself about from a meeting this morning dead serious a physical office um how many of those do you have of 2000 right now go yeah uh probably two dozen yeah um I should have more uh and but not a bad number not a bad I would say two dozen 24 I would say I have 40 and I would like another 12 as well and but I got I have a company that started with a bunch of kids that have worked here their whole life we're only 14 years old similar to you and a little bit older and I think you know actually so you're what 10 years old now yep how many people have worked there for eight years or more uh less than 15 got it we got a little bit luckier and I make sense Equity you had different things that probably triggered that we got really lucky with our 11 plus of that 14e run there's enough that allows me to have more of them anyway not to lose the final minutes here everyone who's listening make as many family members as you can if you plan on growing big but remember to be a family member that requires you putting in the work for them to take you in as family to be able to have what we're both talking about which is very needed at scale yes to totally and so knowing like I just have you know someone that uh you know is in London and I'm going to London uh next week you know to kind of Vis the office and you know I have my person there and I called her and I'm like hey tell me what's really going on over there you know I get the reports I get it through the chain of command but like tell me on the ground like what's really happening and it it's like super uh super powerful and having those people uh is super important there's also this kind of you know this because you're the founder uh CEO as well as I am there's this big difference I talk to Executives about this all the time you know what's the difference between working for a Founder CEO versus a professional CEO night day yeah hold on I be inappropriate like just there's nothing is a bigger change in the history of a organization that's destined to be big than the day the founder CEO she or he leaves nothing is a bigger day that's how different it is in the history of the company public IPL nothing totally it's a completely different culture Dynamic you know and just the the the way that you work like we've had terrible success bringing Executives in that have never worked for a Founder CEO before uh and then they work for me and they just think I'm a maniac understandably like compared to every you know CEO that they worked for they're like God Henry is ### [35:26](https://www.youtube.com/watch?v=o7dPLVm3tSs&t=2126s) 39:19 Final thoughts just is impossible like how do I work with this guy and then you work with you know Executives that have worked with founder CEOs and they're like okay Henry's just a he's just a normal founder CEO like that's how these people roll um it's such a different framework paring shocks my friend what things of business or Carta or startup or pop you want to talk about Travis Kelsey and Taylor Swift you know like every other freaking human on earth by the way there's no more cliche New York Jets thing my real passion my true love then the at the height of this Taylor Swift Kelce thing the Jets are playing on Sunday Night National Football the most watch game not even Monday night anymore Sunday night Taylor's gonna be in the building 10 million people that have never watched a football game are GNA watch because of all this hype and the Jets are at the low point maybe they're franchise with the hype of Aaron Rogers and the Achilles and we're not playing well this is the most Jets game ever totally anyway two minutes on anything you know actually let me say it this way you were thinking about this podcast what did we not touch on that you either wanted to touch on or thought we might touch on you know what I'm excited about uh talking with you Gary is I do a lot of podcasts you know in my industry you know we do you know we're talking Venture you know and so on and you know one of the um the things I spend a lot of time talking about we call it crate ownership right I have this kind of view of the world that you know um labor used to be surf Dum where you were sort of you were you know you were legally free but economically indentured I think we're in the era of payroll today where you people sell time for money um uh and I think the future of Labor is really going to be an ownership era you know and I think you know the Futures here it's just not evenly distributed and we see it in Tech and you're starting to see it in other Industries you know and um entertainment and sports you know the PLL professional lacrosse league gives Equity to players starting to see it in other you know the NBA starting to think about it you're seeing in other Industries and so one of the things that you know excited is you have a broader audience outside of tech is you know can we start catalyzing more companies thinking about ownership and employee ownership uh as a way of compensation so that the next uh era of Labor will be an ownership uh ownership one I think that's right brother especially if you nerd out on the blockchain and what that technology will enable and really understand not the speculation of the nft market or the hype of the cryptocurrencies like if you really understand what the blockchain will do for the thesis you have it is the underlying technology enabler of that guaranteed truth 100% yeah I enjoy this my friend great job Gary thanks so much fun thank you one more time where should everybody go to check out your company which I think a lot of people should be using uh card. com cta. com thank you and everybody you know this I don't go for the hard push and you can say see he wasn't looking for the push I was looking for him to push I think a lot of you need this because you know in the same way I'm pushing you to make 30 minute meetings 15 we didn't get to this one hour meetings being 30 minute meetings not we don't need 21 people in this meeting we need 13 everyone's like oh I'm stretched I'm like what about managing your time and so same here this to me is a Savor of Time Versus the way you're doing it and doing it better so anyway congrats I I'm I've been very impressed for a long time from Far Henry and I'm thrilled we stumbled on each other I'm thrilled you took the invite to be on the show and I love this time together yeah super thank you Gary thanks so much --- *Источник: https://ekstraktznaniy.ru/video/17028*