YouSaid · the spoken record

Carlos Brito

lines on the record: 57
first: 2021-02-18
most recent: 2021-02-18
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“But I think the kindest thing is really my family and the people that put up with me every day. At home, my wife and kids, my parents, I mean, they're the kindest people on earth.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“People that bet on me, people that believe that I could go places and decided to bet on me, I've always had mentors throughout my life and I always tell people when I go to college again to recruit. If there is one important thing in life is to have a great mentor. As you progress, you'll have different mentors. But to have great mentors, people that are willing to, that are truly interested in your success and they are willing to take the risk to tell you in a constructive, respectful way what you need to hear. This is invaluable. And if you find people that are interested in your success and willing to tell you what you need to hear, this is gold because most people are afraid of telling you what you need to hear because they don't have that kind of relationship with you or they're not really interested in your success because they're afraid of competition because they have a role, whatever. So people that are great mentors, their goal, they're really gold.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“It was amazing because when I joined the company, I was not really a beer drinker. When you start looking at the process and the brewing process and the quality of the care and the history, and then at the end of all that you drink a draught fresh beer from the tank in the brewery. That's what's hard to forget because you are in the brewery, you go through the whole process, and then at the end you try the final product from the tank, fresh, that's amazing.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Traditional bud visor, the red bud. What I said here is so obvious, and again, as a company, we're far from perfect. We have gaps in many places and always learning. We built our company actually by getting inspiration from others. We try not to reinvent what's already available. But one thing that from day one, and it continues to amaze as us that other companies don't do the same, is invest in people. That's the only sustainable competitive advantage. And everything in a company comes from the people you have and the culture they all subscribe to. That's it. Anything else, the consequences.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Dates stretched a date would have been a day excited about the future, a day rightly informed about their feedback loops and how their careers are going and stuff. What should be the next step and how soon should that be and so on and so forth. So we spend a lot of time what we call the people chess because since we don't have career tracks, we have career options. There's no set path for you. If you joined here, tomorrow it could be elsewhere unless you're specialist. We have lots of people that will go from sales to marketing to supply chain to other things in the company so they know the business. We need both. We did specialists and generous as well. But going back to your point, that's what I take a lot of pleasure in seeing these people develop.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think this thing I'm most proud of the people we develop here, the people that I remember in the college setting, talking to them about drawing our company, they came, join us because they believe in what we're saying and they prospered here. They blossomed here. I think for me, that's amazing. And because I've been here for 31 years, I've had multiple chances of experiencing that. And that's one of the biggest pleasures I have is remembering that person. not that I hire everybody here. I was there at the very early stages of their career in a mentorship position or just part of my team or just interacting meetings or market visits and then to see those people. It invests a lot of time thinking about people in our company.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Not very appealing because there's a big funnel, there's only one country had, one had a market at the end. And we're going to lose a lot of these people that we invest in so much back to the market. And then somebody thought, hey, if we go to a different country, we're going to have two paths. Two country has, two country market managers, two this, two that, and we're going to learn from different environments and feedback, in the feedback, loop back and forth. So we started doing that, but we had doubts whether our culture would travel well. So we went to the first country and said, okay. We want to have one company, one culture visit travel well. Then we saw, yeah, it does travel well because our stuff's about common sense. Our company became more attractive because now you could develop an international and then global career within our company, growing every time you move. The company is its people and its culture. That's what defines the company. So if we're more attractive now to attract talent and to retain talent, the company has better prospects to”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“What I learned time and again is that life is all about and not about or. So it's not about organic growth or, you know, Most business is going to be a combination like anything in life. If it was only or, life would be easier. No, it's this and that. A couple of 99% of the people or more are focused on the organic side of the business. But some people are focused on opportunities that might show up. And when they show up, first we ask ourselves always the same questions. Do we have the people to really integrate these businesses? Are they willing to go places because this is in other countries or the regions? Does the culture can the culture be implemented there? as much as we know with the public information we have or interviewers or stuff we do. Does it make financial sense? Will it create value? I'm sure everybody's asked the same question, but we start from people because when we were in just a few countries, one or two, and we decided to start expanding to other countries, the biggest motivator was not size was people. At that time, we were attracting so many great talent. We said, man, you're only in one country. The career choices we can offer.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“So they all call on the idea, ownership, as opposed to being told what to do, but not understanding why that's necessary or the best way to go to proceed. It was not one time that I had to hear that. I had to hear that. Many years, many, me, and many, many years, and I still hear that from time to time.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“That was not a very good active listener that I would listen, but not really. Years ago, when I saw something, I thought I had the solution or the action plan to do it. I would just do it when I was Moore Junior. And as you become more senior in the things you have to do are bigger, the gaps are bigger and the challenges are bigger. You need a team to do it. You can do it by yourself. And if you have a team, you learn, at least I learn, through the years, that it's worth to spend the time to bring the team with you. Also because you might not have the best solution. Quite frankly, normally you don't have the best solution in interacting with the team and listening in an active way, you'll get to a better place in terms of plans than just going with your own idea. It's always the case. 99% of the times. But in order to do that, you need to take the time to listen. You need to take the time to inspire people and to unite people.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Raised. So, what was good yesterday is not good anymore, and you have to adapt, you have to relearn, to reinvent yourself. If people don't tell you that, it's going to take too long for you to conclude. It lasts too short for you to waste all this time. So power feedback.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“It's very much part of our culture. And whenever I go to colleges, because we do that a lot, to go 90% of people we hire direct from college. So whenever I go there to talk about our business, our principles, I talk more than how we do things and what we do. That is our important. I want people to self-select. People always ask, what was important in your career? And I always say other than the August sayings, doing something I love, meet the right place, working hard and all that, luck as well, but also say the power of feedback. I was lucky that I always had bosses that were truly interested in my success. And because of that, they were willing to tell me what I needed to hear, not what I wanted to hear in a respectful, constructive way, but tough when they had to be tough. And I had many tough feedbacks and I still have feedbacks today after 30 years in the company that are tough because we're never there. The requirements are always changing. The bars always be.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“First, I like to work in a place where they respect the values and the purpose. The other things they like, and meritocracy was just spoke about, they like informality, not the way we work in jeans, we work in multiple layouts. Anybody has access to make it walk to my desk, and that's informality. The other thing people like is candor. So informality is this idea you can ask questions, you can challenge others in an open fashion, no hidden agenda. And candor is this idea that you want to have feedback. You want to have mentors that will give you feedback because life's too short. You don't want the people that just say you're great. You want people that say, hey, business isn't this, you're great. But let me tell you, errors of opportunities or gaps you have. Let's work together. So you become even better and you progress even faster and you evolve as a human being even faster. Feedback, the power feedback, honest, constructive, respectful feedback is something.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“That's one of the hallmarks of our company: that at the young age, if you're talented, you get to positions that in other companies would take years to get. Because in other companies, if you went to 10 years ago, you're going to be ahead of somebody who went five years ago. So the older generations, the more senior generations in the company will always be ahead of the more younger generations. Here now, the mortal talented people will be ahead of other people, no matter what generation or which year they join the company. And that's something that's very important for talented people, meritocracy. You're valued not by the year or the time with the company. You're measured by your potential, what you've done, by the teams you've built, and by the culture you embrace in your ambassador. That's what you're measured on. And if you are hit on all those cylinders, you're going to progress very fast because you don't have to seniority necessarily to progress. What we learn is that great people like a couple things.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“In places nobody knows of sometimes, or families that people that are not your friends, they don't leave behind you. It's kind of hard for you to understand their suffering. But the moment you connect that to a brand that people trust and you brought that inside, hey, you want to help people on the other side of the world, you buy my six-pack and this money will go to that family or part of that money. I'm here to guarantee that that money will get there. may be at rate of adoption of their cause go through the roof because of a trusted brand. So Brand's very powerful. They can get consumers to pay attention and engage.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“To water. A lot of consumers sometimes want to do something to help others, but they don't know how to start. And when they see a brand, they trust, and sometimes they say, I'm going to give money to this entity and it's all going to be lost in their bureaucracy. They have such a big overhead, big offices and stuff. One cent of every dollar of mine will get to the final recipient, to the one I'm trying to help. Star Twas said, you trust me. I've been with you forever. In Water.org, Matt Damon. He's his face. He's saying He's dedicating part of his life to this. You buy a chalice or you buy a six-pack of Stella. This money, we got 100% to this family. And this has been very successful. And what was amazing is that Matt Damon and Mr. White, the two co-founders, came to us and said, you know what, we've been on the road for a long time. We had no idea what a brand could do to our cause. The moment they were just talking about water, about families.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Dame in water.org, the idea they have is that in countries in Africa where some parts of the population don't have access to water because they're not connected to the grid, normally the women in that family will spend eight hours a day in search of water. So water.organs tell her to our gut together to give that time back to those women so they could do something productive so their families could have a better life. And what we do is microloans to those families at subsidized rates so they can get connection to the grid. And believe it or not, after many, many campaigns of Sarah Trout throughout its history, the campaign that was the most successful was the one that connected Sarato to water.org's purpose, which is to bring water to families that have no access. And it was very simple. It was used by this chalice. We give a family five years of access.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“What's very clear today are two things. First, the way you touch consumers in terms of marketing messaging is very fragmented more than ever. So in the old days was the 32nd TV commercial and primetime TV Super Bowl and the Sinks. Today the Sinks are still important, but they are not the only gaming town. You have tons of ways to get in touch with your consumers and not interrupt their lives, but talk to them, interact with them. So that's one thing that changed. The other thing that changed is that consumers today, they think highly of brands that are connected to a purpose, not just brands that have glitzy marketing campaigns. That can even be bad for the brand. It can be seen as empty. If you have a purpose, if you have something that your brand is connected to, that is something that really elevates the brand. I'll give you an example, Stellar Two. We have a partnership now for six years or more with water.org. What are the co-founders being...”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“So, I mean, we proved once again that companies like PowerScain be part of the solution, like we've always been. That's something that COVID really accelerated. Those platforms and also the very role of companies in collaborating with communities to solve common problems.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Survive but couldn't open. But they could do delivery. Consumers are locked down, needed staples. Not only our products, products in general. We put our technology to serve consumers and products because we believe, Patrick, that businesses exist only because society allows them to exist. So COVID gave us an opportunity to once again to show that we're a part of the solution to issues that the community is facing. So when the community needed an app, it was there. We had the water emergency program that we have on a global basis triggered. We use our plastic injection modes to do face masks. We use our trucks that were idle because what went down because bars are closed, restaurants, traveling, corridors are all closed to help governments get staples where they needed to. We helping hospitals to make makeshift hospitals in six countries. We did that.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“The US with e commerce with direct consumer delivery last mile solutions during COVID during the pandemic because of all the lockdowns, all the restrictions that our retailers had, our consumers had, all those platforms went through the roof. So our B2B and B2C platforms grew in one year, what we projected they would grow in three years. And luckily, we were there because we're investing five years on that. And luckily, we had platforms that could be scaled up quickly because they had good technology behind them. Anyway, we had an amazing group of people of owners that are resilient, committed, engaged, and passionate about what we do, which serve our retailers and serve our consumers so they have better lives. So during the pandemic, we had to use, for example, in a lot of the Latin American countries, we use our quickly transformed solar platforms to be marketplaces for consumers and retailers that were in lockdown periods. So retailers are...”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“You're right, the capital location this day, especially with the world we live today where change is ever more present and faster. It's a very interesting exercise because think about this. You have a business to support the way it's defined today. So the way the business is defined today, you need support in terms of OPEX, in terms of CapEx. But you have emerging segments, things you need to start investing behind because that's where the trends and consumers are going. I'll give you an example. Five years ago, we founded a venture arm within our company called ZX Ventures. And we started investing things that were small five years ago that our big company, our big machine, as we call it, would not be prioritizing five years ago. But we know those things could be big given what was happening in other categories, not because we're very smart. We look at other categories said these categories already are there. Our category is not there yet, but of course we'll get there at some point. Let's start investing five years ago. So everything that has to do with craft on a global basis.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think what's key for us is always this idea of okay, the market's here today, where is it going to be 10 years, 20, 50 years, 100 years from now? And that's how you start expanding. You have the map of where the industries today based on demographics, other trends, you try to map where the demand will come in years to come. And then you put it against your footprint today and you check with the gaps are. And either you start developing that organically or you try to acquire a player that's active in those regions. But it's all based on that. Where is the industry today? What's going to be in 100 years from now? What are the gaps and what are the gaps we need to fill organically and organically?”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“From 30,000 farms around the world and we help them with better seeds, better technique, information about the weather, information when to plant, when to harvest, went to seed, when to do all those things so you can have more quality and more efficiency in the way farming is being managed. Packaging. More than half of our products are so returnable packages, packages that will come and go. Consumers will use that bottle, the bottle will return, rewash it, fill it again, send it back to the market. And the ones that are one way that people will dispose of after using, we want most of it to be a recycled content, aluminum cans, right? The returnable bottles are glass bottles, cags for draft beer.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Time in our business sustainability is our business. They're simple. No water, no beer. That's simple. Very simple. No farming, no beer. I don't have what to brew. So because of that, our four pillars in sustainability are totally connected to our business. They are water, farming, packaging, and energy. These are all things that we have to do every day. And we've done it for 600 years. Otherwise, there's no beer. But the way to do it in an efficient way, then it talks to sustainability. So today's sustainability made it cool to be efficient and to have less of an impact in the world around you because people value that. People understood that there's no planet B. We only have this planet and resources are finite. We've always tried to use less water because that makes business sense and it's good for the communities because we have to shed the water with the community. We try to have the highest quality and most efficient farming and we have rich source.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“It's interesting you ask that because our business is a global business when you look at it, but it's a local business in its essence, in its DNA. 95 plus percent of what we sell, we produce and sell locally. So we get the water from the community, we get the farming products from the farmers, local farmers, we brew the beer in the community, we hire our people from the community and we sell back to consumers in the very communities. In a way, we're very tied to how well that community is doing. So if the community is doing well economically and thriving, growing, creating jobs, we tend to do well. If the community is doing well in terms of environment and the environment is sane, it's balanced and there's water, there's good forming, high quality farming we tend to do well. Sustainability, we always say sustainability is not part of our business. It's not an add-on that we look from time to time.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“One of the things we talk a lot about here in our companies is I give the incumbent and the insurgent. We built our companies a bunch of insurgents. When we started thirty years ago, we were not market leaders in our markets, but then we became market leaders. And you became big. So one thing you have to fight every day in a company that's large and global is that people don't feel entitled to the business we have today. But we feel because it's true that we have to earn and re-earn it every day because consumers have choices. And this idea of change is one of those ideas. If you behave as an incumbent, you believe that change means risk, threat. If you're an insurgent, you believe that change means opportunity because this is a new technology or a new consumer trend or a new habit that's for me that you, if you embrace it, you can ride with it as opposed to against it. So this idea of embrace change, take measured risks, learn from it, and continue to eat.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“So it's beautiful for the category. Same thing with sorcery. Selcer is a development that is different than beer, but has some beer cues, but has some other things that are different. And because it's a slightly different mix in what it offers, it attracted people from other beverages into beer and beer-like products like selfish. And that brought more people to the category. Premium product, premium price point, great margins, and growing segment. So again, it sold this idea about You have to observe where consumers are going because that's where growth is.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Exciting because again, if you start for the consumer, as you should always start, again, in our company, the mantra is you go a consumer's goal because that's where growth is. So in the craft movement started, we as a company, we didn't have a craft portfolio because the portfolio we inherited in the US and other countries that were new to us, they didn't have a portfolio craft. But in the US, as consumers, or some consumers started migrating to that segment that was an emerging segment, we started investing that segment. And today, not only we grow way ahead of the cratch segment, but we are one of the top players in the craft industry. And that's because we realized that instead of fighting with that trend, as people say, you should make trans your friend, we decided to invest behind it. And we took advantage of something that was growing the category that was appealing to new consumers that were not necessarily in the category. So they joined the category. It was very profitable and it was growing.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Have to accept that some brands sometimes in growth mode, sometimes they're stable, sometimes they'll shrink until they find an instability, but the fact that they are there and they have a role to play in that portfolio as consumers change and generations are new come to consumer products, that thing become relevant again and will grow again. But if that thing disappears, then you're going to be at a loss because when that thing comes up again in terms of trend, you won't have that player in your portfolio to play that trend.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“That's more than 600 years ago. And one myth that we saw that we learned from time and again is that brands have a life cycle. And at some point, they'll disappear. And we believe that's a myth. What you have is that brands that lose touch with consumers, brands that are not consistent or don't have a sound positioning, a simple thing that consumers can understand, they are fully managed and that's why they disappear. On the other hand, brands can grow or can shrink. and that's why you have a portfolio and sometimes brands will shrink and then to grow again 20 years later because consumers are interested in the history there's a throwback type consumer mindset and all of a sudden consumers are valuing what was bigger 20 years ago 30 years ago and then it comes back we've seen that time and again in all sorts of industries so that's why it's good to have a portfolio brands because brands should not die but if they are poorly managed they could die but in a portfolio”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“So, yes, you have global brands, but you also have local brands that have their roots and heritage in that one market. This combination of global, regional, and local is what makes a portfolio perform.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“If you understand consumers, you would position the brand on something that's relevant territory for them and you execute that brand with consistency with guardrails given the position you have in consumers' mind. The other thing you learned, Patrick, is that consumers around the world are more similar than different. So where you talk about their needs and what they're trying to achieve in life with one or two exceptions here and there, the ranking of needs and what they are trying to achieve is very similar, very similar, no matter what they drink, what they wear, what religion they have, very similar. So that also makes it easier. That's why you have global brands. More and more in any business, you have brands that are global in nature. So they appeal to different consumers around the world because they tap into a need that a consumer has or a pinpoint consumer is trying to solve in their lives and you tap into that need. And that's a global need.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“First, a well managed brand is a brand that's consistent in its position. So can I be changing every year? What it means in consumers' minds? So it has to own a part of my brain because it's connected to the niche. It's connected to sophistication. It's connected to mules. It's connected to sports. It's connected to in-home occasions. So it has to be consistent. Second, that consistency in that position has to be grounded on consumer insights, something that's relevant to consumers and that we can deliver on a consistent basis. It has to be executed with guardrails so you continue to reinforce that positioning with everything you do, the packaging, the experience, the event, the trademarking activities you have when you go shopping at a grocery store. All these things have to reinforce that position in consumers' mind. So this whole idea that consumer decides what comes first.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Sign and closing, but we go visit, we travel, we meet the people, we identify who the key people are, we talk about our culture, our values, we answer questions because when the sighting comes, we want to be one company, one corporate culture.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Around themselves, we're great people because nobody gets there by themselves, and you have to own it. You can be forced to do anything. Athletes that go to Olympics, if they want to go to the Olympics, they train 363 days a year. They take two days off, birthday and whatever, Christmas or something else, you know, but they train five hours a day. But not because you're forced to do it, it's because you have that big dream. You want to achieve it, and you own the process. You do it because you chose to and you chose to sacrifice other things since you can't have it all to dedicate to that one thing that you're single-minded focus on. But this is very important. So that's why in any business combination between signing the deal and closing the deal, in our experience, there's always six months to nine months because of all the different jurisdictions. You need to get it approved because there are multi-country deals. We use it very intensely. There are rules for what you can share, not as true companies are in between the...”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Canada people eat differently, they spend their free time in a different way, they dress differently, they have different stories or histories. That's what the track says. That's why we travel to see different things. We don't want to change that. But when you join us in any of these countries, you have to subscribe to our values that luckily are common sense values. I never met anybody who said these things don't make sense, a big dream, best people, ownership. And we found that as we went to more and more countries, we had the question, will this culture travel? Well, will people in different local cultures accept our company culture? And what we saw is that, yes, because what we are proposing is what most athletes that are successful and students that are successful do. Students that are successful and athletes, what do they do? They have a big dream. They want to go to the best college. They have a best mentor for their PhDs. So they have a big dream. They know that to get there, they have to be great, but they have to serve.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“You look at our company last 10 years, we grew organically but also inorganically. Through MA and different business combinations, as we call it, other companies coming together. And the question always comes, well, we're going to acquire this company that has 60,000 people, 13,000 people. They come from different culture, different background. How are you going to make this thing work? And what we notice, at least so far, lucky us, is that different than us that think that culture is very important. and that we have this on the wall on the website. We talk about it every time, every opportunity. Most companies don't do that. And the companies we've integrated, they had something that was either a culture that was there, but was never formalized. Or they had a culture that was dependent on one person, the CEO or the founder, not our case. And the moment...”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“It's very different. Our people here, look at our offices here. Everything we just described has nothing to do with the way our offices are set up. He said, no, yeah, you're right. It's very nice. I said, yes, because we would like people to come here and stay for the long term. So we treat our people well, like we do at home. We try to have a home that's not any castle, but it's something comfortable, but we're not cheap by any means. But we're also not going to throw money through the window, not bow.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Broadcasting things, streaming things for them, and you're wasting in a luxurious office. Does that mean we have bad offices? No. That's totally the opposite. We're people that value how tough it is to make money. So when we spend, just like in our household, we spend with care. So our office is always very comfortable, very well located. But are they over the top? No. Why? Because we don't believe it's necessary. I remember when I was interviewing people many years ago when we came to New York, I remember I got a guy that ran in our website that we're very efficient and cost conscious. And the guy came to the interview and said, oh yeah, no, I understand that because the company I'm in these days, it's in New Jersey and our offices are terrible. You know, the rugs are all carried apart. We have a river that's not the best in our backyard and all that. I said, no, no, no. You're wrong.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“You answered it. The moment you tell people guys, we have to go where consumers are going. The more efficient we are with things that consumers don't value, are not buying, who not buy more of, who not pay a premium for, and put money behind things they value. And that's distinction we make between non-working dollars and working dollars. Non-working dollars is everything you spend in the company and you need some of those expenses that consumers don't care and not willing to pay a premium for. Working dollars and everything that supports what you're doing that consumers value. So for example, if you're in a very luxurious office, this is something that will drag your resources, but consumers don't care because when they buy a product off the shelf, they don't care if your office is here, there, anywhere. So you're spending money that you could be putting towards sports that they love, music that they love, arts that they love.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“What difference it makes if I do this better if I don't travel first class I travel business or I travel economy for a two-hour trip for the company doesn't make any difference well it does because if everybody thinks like this the moment you get people that ownership mindset you start doing at the office what you do at home and then efficiency comes naturally the same way you turn off the light when you exit your bedroom at home you expect people to turn off the lights when they leave the room This is what you do at home. So we're not asking anything that's outside of this world, anything that's torture. No, we're just asking people to use common sense. And that comes with ownership. The moment you understand that this is our company, you do what you do at home. And then efficiency comes naturally.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“This is hand in glove with the ownership mindset. Think about this when we deal with our own money that's hard to earn. We all know that. It's hard to earn money. So when we deal with our money in our household, when we travel with our families, we always look at the cost benefit of things, right? We say, okay, should I go every day to a five-star seven course meal with my family? Or should I do this every now and then, but not every day? Should I stay in a five-star hotel? Should I fly first class? We do things if you can afford comfortably, but you always try to have that common sense of judging things. If the company is yours and you're an owner, you do the same thing at the company. The problem is that a lot of people have a dual life. They have a life when they get home and they are efficient with their resources because it's their money. But when they come to the company to work, to the office, the company's rich, the company's big, what difference it makes if I turn off the light.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Course, but with also freedom to operate within a framework and many other things we do to get people that idea that this is our stuff. If somebody is not an owner, you can give them equity or anything. That person will remain a known owner. If the person is an owner, as the person progresses in the company, at some point you give them equity that reinforces an existing ownership mindset, but it doesn't create that mindset. So this is something that we have very present in our mind.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a very good point because we have 170,000 people around the world in all continents. But what we learned from day one is that what makes you an owner is not shares or equity or options that you get. Actually, only 1% of our people have equity participation in a company. We give us incentives. We like to think that 100% are owners and things are not perfect. There are people that don't feel like that. As time goes by, either they become an owner or they're not going to fit somehow. But ownership is this idea, it's this mindset you have that this is our business, this is our company. I want to be proud of what I'm doing here. And you give people freedom to own the business that they're responsible in charge of. That gives people that ownership mindset because they are empowered to take decisions, to make decisions, to take risks and to manage that business as their own business with accountability, of course, with rules of...”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Is because the people that married that process have operational accidents in mind as a value. And they want to pursue that because they think that wasting resources is a bad idea. We have no planet D. We only have this planet we live in. And it can be efficient, why be inefficient? But some people don't think about that. They just think about, okay, let's get this done no matter how we do it. And some other people say, no, let's get this done with the best quality and the most efficient way we can so we don't waste precious resources. And we minimize the impact we have in the communities where we operate.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“The culture summarized, which we call ownership. So this idea that owners make better decisions because it's their money, their company, as compared to executives and professionals. Owners join companies to get that dream and make it real. And professionals join companies to stay for three years to build their resume, not to build the company and its mission. So from day one, we said, okay, what's important are the people we can attract, retain, develop, deploy, and the value set, the culture that they all share. Because especially as the company grows, you cannot have oversight of all the operations around the world. That company has amazing products that consumers love is because the people in that company understand what consumers are going, what they need to make their lives better, and you get that insight and you transform that into a product or a service. If you're able to be very efficient,”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“Values they have. And the values we call culture. So in our company, for example, we've always had what we call the 10 principles in our website. And in short, it's about dream people and culture. So we say life's too short for you to waste time with small things. Let's think big. Let's have a purpose in what we're doing. Let's do something that can be transformational, impactful, I can look back years from now and be proud that we're part of that group that did something meaningful. So ThinkBake is the first one. For you to think big and have big dreams, you need great people because only great people can take something that's a dream, an idea, and get it and realize it. Put it in practice. So this idea of invest time so you can attract the very best. And more importantly, attract, you can retain them because you create an environment where things are important for them are there so they can stay here for the long term. And that connects to the third piece, which is...”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“What I learned from my senior partners from day one is that companies are formed by people. It's an obvious thing, but people forget about it. So in a lot of places, you hear people say, what are they going to do? What's the company going to do in this kind of situation we're facing? And people forget the company is really a group of people that have a consumer in mind, somebody who's going to pay for your service and products at the end of the day. That's why you exist because you solve their problems somehow. And a group of people that have some basic values that are important for them, relevant for them. And they work together as a group because they believe in the same values and they're excited about the consumer mission and their consumer centric and all that. So we learned from big one that the only sustainable competitive advantage any company could have was really the quality and the talent and the engagement of its people. That's it. Everything else is accessory and everything else is a product of these people and the”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source
“I said, okay, so 25 for the first year then goes back to 20. I said, okay, I'll take it. Then I hang up. I said, oh my God, 25, I have 100 in front of me, 18 in front of me, 90 in front of me. I spoke to my dad, never told him the difference in salary, but just saying I was going back to Brazil those days where Brazil was going through a crisis. Say, you're crazy out of your mind, you know. And then made all the difference. That's where I met my wife, by the way. She used to work for the bank. So when I got back and started working for the bank, that's how we met. It was two married three years later. So four kids. So that's great.”
2021-02-18 · Invest Like the Best · Carlos Brito – Creating an Ownership Culture – [Founder’s Field Guide, EP. 21] · IDENTIFIED FROM THE TRANSCRIPT · source