Scott Sheridan
speaker
145 appearances
1 recordings
1 series
first heard May 2025
last heard May 2025
Scott Sheridan’s voice in public audio — every appearance, attributed to the second.
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So when somebody says, I have X number of dollars and it's gonna take me a year to do it, I say, you better make sure that amount of money will get you at least one and a half X, if not two X in time, because the worst thing in the world is to have Vielen Dank. Basically, I'll give you whatever I have to give you because otherwise I'm out of business.
Versus if they come to you and you're fortunate enough to have cash flow and say, you know what, I don't really need your money, but I'll take it because it's always good to have some extra money in the bank. And you hope you never need it. That was our first round of funding. We took the funding, didn't need it, but they were really pushing us.
And at the time it was the largest investment into a private company in Illinois. Wir haben das Geld genommen, wir haben es nie getäuscht. Wir haben es nie benötigt, aber weißt du was? Toll, dass wir es haben. Keine Regret, dass wir ein bisschen Verlust hatten, weil es uns die Frieden der Meinung gab, dass wir sagen, wenn wir einen Hickup haben, werden wir mehr als gut.
So, I definitely take a less traditional approach with my hiring. And I've hired hundreds, if not a couple thousand. I've hired a lot of people. And as I said, it's like in my wheelhouses not to self-promote. I don't miss on hires by bringing in people. I might miss on not hiring somebody, but that I will never know. For me, and you made a comment earlier in the conversation about culture.
Und ich denke, für die meisten Leute ist Kultur ein Witzwort. Sie sagen, wir müssen eine wirklich gute Kultur haben. Ich kreiere tatsächlich großartige Kulturen in den Unternehmen. Und Leute haben mich gefragt, wie man das macht. Und meine Antwort ist, ich leite einfach durch, was ich tue. Ich bin nur ich selbst. Du kannst Kultur nicht lernen. You can hopefully get people to adopt the culture.
But the culture that we have, that we had at Vickersum, that we have at Tasty, is you try to hire really good people and you really challenge them. Now, when I say challenge them, my partner, the way I describe my partner is he lives to work and I work to live. Für mich ist es so, dass ich viele andere Dinge in meinem Leben genießen möchte.
Ich versuche also, so effektiv wie möglich zu sein, in den Stunden, in denen ich arbeite. Aber wenn ich nicht arbeite, dann mache ich die anderen Dinge, die ich machen möchte. Was wir also tun, ist, dass wir die Leute challenge, wir drücken die Leute, aber was wir auch tun, ist, dass wir den Leuten genug Rücken geben, dass sie sagen können, dass sie das tun können.
Ich challenge die Leute und ich erhalte die Leute, Dinge zu tun. Dann sage ich, ich möchte, dass du das tust. Dann sage ich, ich kann es nicht. Und dann sage ich, warum kannst du es nicht? Und sie sagen, weil ich es noch nie getan habe. Und ich sage, okay, na gut, ich werde dich nicht fragen, etwas zu tun, das ich mit Zeit und Geld nicht lösen kann.
Und wenn ich jemandem das sage und ich sage, ich vertraue dir, ich glaube in dich, dass du das tust. All of a sudden they go like this, their head explodes. They become a better employee. They become, you know, just a better, better, better, better. And it's a win, win, win.
Whereas most managers, I think what most managers try to do is keep everybody in a box because they say, I don't want you showing me up at some point in time. So you just stay over here and work in your little world. We're the exact opposite of that. Somebody has an argument or can make a compelling argument for a project that they want to go work on. We'll say, go ahead, go take a shot.
Let's see what you can do.
Meine Mutter, ähm, sie sagte mir früher, dass ich einen Academy Award gewinnen könnte, weil du nichts darüber erzählen kannst, ob du weißt, wie mein Tag war. Ich habe eine massive Risikotoleranz. Ich weiß nicht, ob es gut oder schlecht ist, aber es ist, was es ist. Und es ist, wer ich bin. Also kann ich verrückte Mengen von Risiken nehmen, die für mich kalkuliert sind.
Also bin ich nicht ein großer Casino-Spieler oder Sportspieler. Ich meine, für Spaß, du bist ein bisschen hier und da. Aber ich bete basically alles, was ich habe, auf mich selbst. Also wenn wir etwas sehen, mein Partner und ich haben viel zusammengearbeitet. Ich glaube, das ist unser 36. Jahr zusammen, was verrückt ist. Und wir hatten einige von diesen und natürlich auch einige große Erfolge.
Aber aus meiner Perspektive You have to have the stomach, you have to have the internal fortitude to say, I can tolerate not getting paid. I can tolerate this, this, this for some period of time. Obviously, you can't go into perpetuity without getting paid. But when we started Thinkorswim, we took basically a bare minimum salary and we just bet on the upside. So we had stock in the company.
We said, you know, if this works, the salary is going to be irrelevant. I can't tell you what problems somebody's going to run into, but most problems are solvable.
And what I say to my team, I say, don't worry about making a mistake, because typically if people start panicking about they're going to make a mistake, they make bad decisions, because I don't want to do this, because even though it might be better in the long run, if it doesn't go well, it's going to look badly on me. That's a bad, for me, that's a bad mindset.
So my feeling is, take a lot of risks, but like in baseball, So long as you only have two strikes, you're still in the batter's box. It's when you get your third strike that you're going back to the bench. So you need to be careful. And again, calculated risk.
So there are things in one of the comments I've said to my kids since they were little, control the things that you can control, because you're going to have to deal with things out of your control that are going to take a lot of your bandwidth. The ones that are going to trip you up are the ones that are out of your control.
So you've got to make sure that you've got some juice left in the tank that you say, okay, I can go navigate that problem. Now, my partner and I, it's also really, really important if you do have a partner, pick somebody that has a different skill set. You don't need somebody that is the same as you because you can do what you can do. So my partner's skill set is very different than my skill set.
But we have mad respect for each other to the point where we don't even need to talk. You just go do you. I'll go do me. When we need to talk, we'll come back together. We'll figure it out. So, and that's why it's worked for as long as it has worked. So, when looking for, first of all, you said when hiring people. So, hiring people is, I will finish with this.
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