Principles and Business Model

Guiding Principles – For Software

1. Be a Platform

SaaS – Monthly Recurring Revenue, System of Engagement, Leverage other vendors

4. Fall in love with customer problems, not your solutions

When a customer says they don’t like something or they have a problem they are right 100% of the time. When they suggest a solution they are wrong 99% of the time.

7. Use it Internally

To the point of fanaticism

2. Disruptive

Easy to Use, accessible and affordable and useful immediately

5. Think 10x not 10%

Don’t always take the obvious path. It is It is often comparable effort to achieve 10X the results

8. Great Workflow = Actions + Insights

Provide insight to help users do things – don’t make the user think too hard

10. Speed is a necessary feature

If your application is slow people won’t use it

3. Have a business or technical advantage

Be best in the world

6. As simple as possible but not simpler

Build for 5% power user and take the time to build it right

9. Refactor incrementally and continuously while delivering value

No big bang mass scale rewrites

Leadership Principles

Ownership

Leaders are owners. They think long term and don’t sacrifice long-term value for short-term results. They act on behalf of the entire company, beyond just their own team. They never say “that’s not my job”. They are accountable. They take responsibility for everyone’s performance including their own.

Make others better

Leaders work tirelessly to hire and develop the best and brightest. Acquiring new talent is always a top priority. They understand that surrounding themselves with more intelligent and more talented people is the smartest thing they can do. Leaders raise the performance bar with every hire and promotion. They recognize exceptional talent, and willingly develop and move them throughout the organization. Leaders develop leaders and take seriously their role in coaching others. They inspire, teach and motivate.

Invent and Simplify

Leaders expect and require innovation and invention from their teams and always find ways to simplify. They are externally aware, look for new ideas from everywhere, and are not limited by “not invented here”. As we do new things, we accept that we may be misunderstood for long periods of time.

Frugality

Accomplish more with less. Constraints breed resourcefulness, self-sufficiency and invention. There are no extra points for growing headcount, budget size or fixed expense.

Have Backbone; Disagree and Commit

Leaders are obligated to respectfully challenge decisions when they disagree, even when doing so is uncomfortable or exhausting. Leaders have conviction and are tenacious. They do not compromise for the sake of social cohesion. Once a decision is determined, they commit wholly.

Think Big

Thinking small is a self-fulfilling prophecy. Leaders create and communicate a bold direction that inspires results. They think differently and look around corners for ways to serve customers.

Are Right, A Lot

Leaders are right a lot. They have strong business judgment and good instincts. They seek diverse perspectives and work to disconfirm their beliefs. In the end, they are confident and that confidence is infectious.

Learn and Be Curious

Leaders are never done learning and always seek to improve themselves. Self improvement is a part of their DNA. They are curious about new possibilities and act to explore them. They are flexible to new ideas and open-minded enough to consider them.

Deliver Results

Leaders focus on the key inputs for their business and deliver them with the right quality and in a timely fashion. Despite setbacks, they rise to the occasion and never settle.

Bias for Action

Speed matters in business. Many decisions and actions are reversible and do not need extensive study. We value calculated risk taking.

Dive Deep

Leaders operate at all levels, stay connected to the details, audit frequently, and are skeptical when metrics and anecdote differ. No task is beneath them.

Customer Obsession

Leaders start with the customer and work backwards. They work vigorously to earn and keep customer trust. Leaders pay attention to competitors but they obsess over customers.

Insist on the Highest Standards

Leaders have relentlessly high standards – many people may think these standards are unreasonably high. Leaders are continually raising the bar and driving their teams to deliver high quality products, services and processes. Leaders ensure that defects do not get sent down the line and that problems are fixed so they stay fixed.

Earn Trust

Leaders listen attentively, speak candidly, and treat others respectfully. They are vocally self-critical, even when doing so is awkward or embarrassing. Leaders do not believe they or their team are above others. They benchmark themselves and their teams against the best. Leaders have the ability to lead through influence and without authority.

Learn From Mistakes

Leaders make mistakes, and rather than dismiss them, they learn from them, and make their next challenge better because of it.

Optimistic

Leaders are a source of positive energy. That energy catches on to those around them. Intrinsically helpful, they seek solutions and don’t dwell on problems. They know what to say to inspire and reassure.

Vendasta Business Model

1. White label

Consider everything – no leaks

4. DIY and DIFM interfaces

Where at all possible

7. All Markets or One Market

2. System of Engagement

Our software is the thing users use

5. Friction Free self serve

No hidden configuration

8. Control Communications

All Communications with our users are via the system

10. Continuously deliver value

No total rewrites or big bang releases

3. Data Lives in our system

Not in 3rd party tools

6. Value Based Pricing

Users have access to all features. Limits are based on value to user

9. Products work alone

670K+

local businesses in our system

13,000+

salespeople using our platform

1,100+

agency and media partners

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