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Patrick Shaw

๐Ÿ‘ค Speaker
464 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

I mean, we've got to focus more on profit.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

We focus on growth, and so I spend all the money all the time, right, instead of focusing on profit.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

So we're going to adjust this a little bit, but we have an intranet, and in the back of the intranet, they can go in, and their rapid shares, which are vested and non-vested,

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

The rapid shares are 50% based on the company's growth and 50% based on their commitment to the quarterly ROC, not the execution or completing the ROC on writing a proper ROC.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

And in the link, you'll see under ROCs, there are eight criteria for writing a proper ROC.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

And the last step is you have to get the sign off of the executive.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

That's it.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

And then they read it every week.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

We never have to worry about execution.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

because they're verbally committing every single week over the quarter to here's my rock, here are the milestones, here's what I commit to, and then rapid shares are tied to it, which is literally, it's just a bonus program, but it's literally tied to the value of a share, and they know it, because they can see the growth of the company, they know how many outstanding shares they are,

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

We multiply that number by two and we, we, we, um, we divide by the, by the outstanding shares and they know.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

So every share is like right now we're seven bucks and, you know, depending on where they are in the world and what they're doing, they, they, they receive shares.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

So anyway, that's a explanation of it.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

Yeah.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

Shares are impossible really for us, true equity, because we're in nine countries.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

I don't even know how we'd be in like real equity.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

So they trust the company anyway, and we pool it and we escrow money to make sure they can cash out.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

So twice a year, anytime they need to cash out of shares that are vested, they can do that anytime and they see how it's growing.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

Now, they don't like to cash out because the company's growing at least 30% a year.

SaaS Interviews with CEOs, Startups, Founders
Building Culture, Processes and Accountablity as Remote Team.

You know, so they look at that and they're like, well, I don't really want to cash out and I completely trust the company again, culture matters, right?