When my wife (Julia) + I made our move down to Miami a couple weeks ago, we listened to Keith Rabois' "How to Build an Iconic Company" podcast during the car ride.
Below are my top 5 takeaways but of course the whole thing is a must-listen to hear about his start-up philosophy.
"The team you build is the company you build" - KR
100% of your problems get solved with the right people.
None get solved with the wrong people.
I love this point as well as how Keith described his learning process tied to this idea.
"Barrels and ammunition" - KR
Your company can only pursue as many projects as you have barrels.
Barrels are people that can come up with original ideas, rally a team, fix stuff along the way + propel the organization forward to achieve the goal.
Ammunition are people who do what they're told to do to the best of their ability.
The ratio of barrels to ammunition is critical.
If you get a chance to hire a barrel, pull the trigger immediately.
This is is an absolute gem and the visual is phenomenal.
"Value of focus" - KR
Most people have A+ problems but they focus on the 2nd, 3rd and 4th most difficult ones on their list.
If everyone focuses on A+ problems, you become an iconic company that no one has seen before.
Another great point.
Also worth mentioning the type of A+ talent drawn to this approach + culture.
"People systematically undervalue their time" - KR
Single most consistent characteristic of successful people is the ability to prioritize.
Easiest way is to say no.
Say no to anything that doesn't have 10X potential.
Say no to many things so you can be awesome at a few.
The 10X rule really stands out and reminded me of "saying yes to one thing is saying no to everything else."
"Building a product is like producing a movie" - KR
Building a product is like producing a movie.
Nobody who produces a movie goes up to 10 people on the street and asks them what they want to watch this weekend.
Yet another great description and visual of a complex idea.
January 20, 2021 (Tweet Link)