YouSaid · the spoken record

Patrick Campbell

lines on the record
87
first
2023-02-19
most recent
2023-02-19
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

  1. “Launches per month, this many big product launches per quarter, whatever it is. And then your leadership is basically a conversation of like, great, that's what good looks like. We agree. How do we close that gap? And then all of those conversations are like, okay, you only shipped one thing per quarter. We want to do one per month. Why? Well, I don't have enough resources. We solve that problem or we, you know, figure out how to get them more resources. Then they're not doing it again. Okay, why? Well, there's this problem. And then all of a sudden, you start to create this like, you know, very high output team kind of across the board. And you also have this alignment so you don't like wake up nine months into someone being at your company and being like, well, I think Tim sucks. And it's like, well, why did you just all of a sudden wake up and think Tim Tim sucks? Well, he's not shipping blah, blah, blah. Well, it's probably an org problem rather than like a Tim problem. Because again, you vetted Tim. Tim was at this other company and apparently was a really great rock star. So what's the difference here? Like you screwed up the hiring? Well, maybe because that.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “The way we looked at this was we have to establish mission metric and guiding principles at the top. So what do we do? How are we measuring it and how we're going to get there? So for us, it was we automate subscription growth. Our mission metric was the amount of revenue that was on Profa Well because that was good from acquisition, but it also meant we were doing our jobs. Then how we're going to get there, we want to be the most helpful brand in SaaS. And then we also were going to do it for you, this whole thing that I just kind of talked about. Then what we did is we established that at the leadership level. Every org leader, so marketing, sales, et cetera, they need a framework that fits into that overall. So marketing at Profa Well was this whole inbound media, so lots of podcast video series, et cetera. And the most important part of that was they needed to determine what good looked like in terms of shipping. So if we're like, hey, we're doing sales, blah, blah, blah, blah, or marketing in this case, this many episodes per month, it's this many products.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “And so, if you've ever had a team that seems really, really smart, but they're always planning or they don't really ship a lot, or you've had trouble where everyone kind of gets it at the leadership level, but then the team below them and below them seems to be kind of going in a different direction, you probably don't have enough alignment and you don't have enough alignment on what good looks like in terms of like tempo. And so”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Yeah, the Bratty thing here is that real professionalship. Like at the end of the day, like real profession, I don't care what if you're a marketer, product person, engineer, like it doesn't like ops person, people ops, real professional ship and they ship at a pretty high frequency for whatever they're doing. And so the thing that we thought a lot about is like, in my opinion, your tempo framework, and I'll explain a little bit more of what that means in a second.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Yeah, yeah, yeah. We were going to try to sell it. Like, we were trying to sell it in the beginning. But what ended up happening is we ran into all this. That's why we didn't.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Analytics tool. You have two options. You go up market and you pretty much become like a data product with or a UI. Or you go super niche, and even super niche, like it's super hard. And it's just because, I don't know, like everyone's trying to kill a spreadsheet. And it's like, you're not going to kill a spreadsheet. All real analysts will do everything in a spreadsheet. So for us, it was, we want to give you a clean UI and then we want to help you get this data into spreadsheets or email or whatever you're using for your databases, things like that.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “It's terrible to build a metrics for an analytics product. It's so hard because people just don't appreciate how much work goes into it. Therefore, they don't retain at a high rate. They're not willing to pay that much, et cetera.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “All the product features are done for you. So, what I mean by that is you notice this, but when you log in and set this up, you're not writing emails, you're not setting up the flows. And the reason is because we have all this data from $30 billion in ARR flowing through our metrics product that we can like study and understand what works and what doesn't. And that kind of stumbling that is useful for folks is what we kind of discovered is this anti-active usage type product, like it retains itself at a really, really high rate because people are just getting the value and they don't have to use it. And so what we kind of found, this is like a little bonus thing on retention. When we look at churn rates across different types of products, those products that are workflow products use every single day or mostly every single day or those products you don't have to log into, but you still get the value. That's where the lowest churn rates are the highest retention. Anything in the middle, it's like death. And this is why Profile Metrics ended up being free because we were just like.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Thanks, man. I appreciate that. And it's actually kind of cool because I think for us, because the fact that product teams don't really think about this stuff, we stumbled into this like whole thesis that could be a whole episode, which is like.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Information. It's great for a product team. It's great to figure out what's working, what's not, what should we do more of? Was this a good customer? But then based on their engagement data, their plan, whatever, all their firmographics about them plus their answers, then I can offer up a salvage offer or a pause plan or a maintenance plan or these types of things. But all this type of stuff, this is really, really powerful. And I always suggest like finance teams should just take this on because product teams are always going to be thinking so much more in the future rather than like fixing this right now. But that's the hottest stake I got for retention.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Not that much work putting in basically a marketing funnel when people's credit cards fail. Not that hard, not rocket science, right? Doing offboarding, like being really smart with offboarding. And one little tidbit I looked at like 2 million cancellation flows. We built some products for this. That's why I have this data just to be clearer. But looked at like 2 million cancellation flows and we found you have about 18 to 30 seconds when someone hits that cancel button. We found you should ask two questions. One, why are you leaving multiple choice don't do the free response you get like one out of 100 great responses and 99 are not great. And then the other question we found works really, really well is what did you like about the product? And the reason that works so effectively is because that person's on a freight train to basically cancel. They're like, I'm already done. Oh, yeah, this is why I'm leaving. The minute you ask them what they'd like, you're basically tapping into this nostalgia effect and you're stopping that freight train. And then when I have...”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “Strategic retention is all the stuff that you as a great product leader, a great product team are doing your ICPs, your time to value, roadmapping the right features, figuring out your mission metric, agonizing over every little thing, right? All the paper cuts of being a great product leader. But because you're so focused and so biased towards that, you miss out typically on this thing we call tactical retention. And these are things like payment failures, term optimization, cancellation flows, offboarding, et cetera. And if your past product market fit, this area, this tactical retention, it's typically about 25 to 40 percent of your churn problem, which is a significant amount, but you don't really look at it because, again, you're like, I got to go focus on features. I got to do this, and I'm going to go, you know, be this great product leader. And so because product is so entrenched in that thinking, that problem can be solved with two months of work.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “The reason I started writing about retention and publishing data on it is because I didn't want to be the pricing guy. I was trying to like basically differentiate myself. And then I was trying to be the SaaS guy, but that's too broad. But anyway, so retention. The hottest of hottest tanks, and this is the one to offend 90% of the listeners. No, it's not going to offend, but this is a product podcast. That's how I think about it. Product homies, you fail at realizing most of the time that there are two types of retention. There is strategic retention and then there's tactical retention.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “Going to have to collect some data. You're going to have to prove it to sales. You're going to have to make sure you have the enablement. You're going to have to make sure your messaging is. But it's a tight enough non-nebulous thing that you're doing versus a value metric where you can have a bunch of debates about this metric or that metric and should you give 10 away versus 100 away. It's a good way to kind of rip the band-aid off. And most companies don't change their actual number that they're charging once but every three years. So if you haven't done it for three years, like you're overdue for it. So it's a good one to kind of rip the band aid off.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “I would actually start with a price increase. You should be increasing your overall price once per year if you're building. If you're not building and your support sucks and your NPS is low, then don't worry about it. But if your NPS is over 20, which is not a very high NPS. Should raise your prices once per year. The reason I suggest that is because it gets all of the BS and all the politics on the.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “Of figure that line out. And then what's really beautiful about it is churn tends to be about 20 to 25% lower because people will downgrade, but they're using, you don't get this like, I'm paying for so much and end up not doing, you know, not using a lot of it. It's like, oh, I'm using eight seats this month. I'm going to downgrade and it just automatic. And then your expansion revenues typically double when you're using a particular value metric. Because instead of me having to resell you and being like, hey, Lenny, there's this really cool feature in this upper tier. Do you want this? And you're like, I already use the product I don't really want this. Instead, I just go, hey, Lenny, congratulations. You now have 100 videos in your account. That's awesome. You guys must be growing. I'm just going to bump you up to the 100 video plan. Let me know if you have any questions, right? Like it's just a very, very implicit way to get expansion revenue. So that's the thing pound for pound that's the best. And then I would say if you have a lot of politics internally, which everyone does with pricing because it sits in the center of so many different teams.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “The number one thing to figure out when you're thinking about the different pricing pieces. Pound for pound, it's the pricing metric or the value metric. That's how you charge per user, per thousand visits, per thousand what's it's, whatever it is. Consumer companies, it's a little bit harder physical good products. It's really hard, obviously, because you have that physical good, the physics, you know, you can't get over. But the reason this is so powerful is because if you get everything else kind of in your pricing wrong or not great, but you get that right, you tend to be okay when it comes to monetization. And the reason is because first, from an acquisition standpoint, like acquiring customers, you end up making sure that you get Disney coming into your product. They're paying Disney prices, and then you get Johnny or Jane's startup coming in, and they're paying Johnny and Jane prices. You don't want them paying the same thing because obviously the value is different, even if they're consuming almost the same amount. So this allows you to.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “One thing per quarter, the least sexy thing when it comes to pricing is have a pricing committee if it's two person company, it's you and your co-founder, if it's 100,000 person company, it might be 30 people, but really it's only eight people kind of central to that particular product. And then just realize there's a lot of things that influence that revenue per customer. There's the actual price, your packaging, your add-on strategy, your discount strategy, your price localization, freemium. There's a whole host of different things there, but just find one thing you're going to do every three months, put a calendar invite, let it renew every three months. You're going to snooze it a couple of times. I get it. I've seen this many, many times before, but just do something. Even if it's super small, like I guarantee you, it's just like any other thing you measure. As soon as you start measuring and caring about it, you're going to start to do some stuff. Some of it's going to go poorly. Some of it's going to go great. Then you're going to do more stuff and then just over time, all of a sudden that number is going to go up into the right.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “It's super boring, but the biggest hot take is you just have to do something once a quarter. That's it. Like, I've been trying to teach about pricing for a decade now. I've done a lot of different approaches on this. And I think the easiest thing is, listen, you have three growth levers. You have acquiring customers, monetizing them, and retaining them. You're spending a lot of time and money on acquisition. You're spending some time and money on retention. You're probably nothing on pricing and monetization. And it's because you think it's this nebulous thing. And there are some nebulous aspects to it. But to make it super concrete, it is the revenue per customer. Look at that number, that one KPI, and you want that number going up into the right. It's obviously going to go to the right over time, but you want it going up over time, you know, every single quarter, not as high as your sales volume or your lead volume or your revenue maybe, but you want that number gradually going up and just you.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “Life, reduce the number of hours if you want, or go all in and make it into a $100 million company over time. And I think that's amazing. We should celebrate that rather than like if it's not a billion, you're failing. But we should just know our limits. I think that's the thing a lot of people fail out with funding.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “And I think when you think about that, it opens up this world of options for you as someone listening to this. Think of it this way. You don't have to have the pressure to create a billion dollars in revenue. If you can take a step back and be like, okay, I can create a $10 million business. Like you listening to this probably, you're like, I don't know. But if you were a director level somewhere at a corporate company or you're leading product somewhere, you can go create a $10 million business. It might not happen overnight. It might take 10 years. All these other things, but that's amazing. That's insane. Like think of, you know, 20, 30, 40, 50 years ago, you'd have to have a corner store and you'd have to work 18 hours a day to build that type of ability or that wealth to then hopefully retire when you're 65 and sell the business for like 1x. Now like you can build a software company that's doing a million a year, have an amazing”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “Going to be bootstrapped for, I don't know what it's not a timeline, but I had imagined probably the first 18 to 24 months because I don't want to give up that equity for that funding on figuring out the idea. Obviously, I had an exit, so I'm able to afford that. And, you know, I'm in a position where I don't have to worry about, you know, my own livelihood. But I think it's one of those things. If you can bootstrap for the, even if you're going after a funded idea, if you can bootstrap for the initial ideation, maybe even through product market fit, which is not an easy thing to do, but that's the ideal time then to raise because then you're just going and you're going for the fences at that point.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “I used to look at it 10 years ago, you'd say, Is this a company that can get to 100 million in annual revenue? And now those numbers are all changed because IPOs are happening closer to 200, 250 million, and the markets are all over the place depending on the day. I look at this as if you are going to be that large company, you need to get to a billion in revenue per year. It doesn't have to be overnight. It can be over 20 years. It can be, you know, it's not something that has to happen quickly. But that's how I think about it. And if I don't feel like there's a clear path to that, it doesn't mean I don't raise money. It just means that I take a step back and really think”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “Well, I think there's a lot of ideas that should not raise money. There's a lot of ideas that should just be great cash flowing, and they can be large businesses. You know, there's large businesses cash flowing tens of millions of dollars, you know, without funding, right? And I think it's just one of those things that you need your goals, your model, and ultimately your funding situation all to kind of match. And I think a lot of folks, they go in the opposite direction where they're just like, oh, everything on TechCrunch, everything on Twitter is like, hey, I need to raise money, raise money, raise money. And they don't take a step back and go, like, well, that idea, it's just not a very good business to get money. And money is so plentiful even now still, that, you know, it is easy, quote unquote, relatively easy to raise money on just not a great idea. And so that's, you know, obviously problematic.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “And our biggest thing was we wanted to build a big company. And we were going after that, but we weren't doing the things in order to actually make that happen, which is i.e. getting funded. So yeah, that's kind of my hot take. And hopefully I offend everyone. But it's also just kind of the end of the Twitter argument where it's like, yeah, it depends, but that's kind of the thing to think about.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “The basic idea is bootstrapping is for lifestyle businesses that want to cash flow funding is for companies trying to create a billion dollars in annual revenue. And that is something that answer offends everybody. Like that answer offends the indie friends I have, they're going to be like, oh, what about Basecamp, Wistia, Profitwell? And I'll tell you, like Profitwell, this was a big mistake. Like, yes, it was a great exit. We sold for over $200 million, et cetera. We probably, if we had taken money, we could have had a billion dollar exit or we could have kept going. And we should have taken money earlier in our life cycle. This was actually a big mistake because we got hooked on the efficiency. And that was great, but we could have moved even quicker than we were. And in hindsight, it's 2020. And, you know, I'm obviously not crying over this, but it's one of those things that I think that you have to know who you are and you have to know what your goals are for a company.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “We don't end up being upfront with these values and these trade-offs in the interview process. And then all of a sudden, you spend a lot of time and a lot of money hiring someone who just doesn't fit. And I think that's really, really bad for them. It's really bad for you. And so that was the other thing is we would pull all of this forward into the interview process and talk about it and basically say like, hey, if this is not how you think, that's okay. We're not better than you. You're not better than us. It's just this is how we do things here. And I think a lot of times we're scared to do that because we have that founder or that exact fear of, hey, we have to get this thing done and that only way to do that is to, you know, do X, Y, or Z when in reality that's actually going to make your deadline go out further than actually focusing on alignment as much as humanly possible.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “Well, we get this fear that accommodation culture again, where it starts even in the interview process. We're like, oh my God, we need these hires, we need these salespeople, we need these engineers. So we don't.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “But the important part is, and this is where you really care about your team, is if you believe that, and it's okay to have a culture that doesn't believe that, it's not a culture for me, and that's okay. That's the entire point. But if you believe that, then people who have trouble assuming positive intent or have trouble taking the most charitable interpretation, they can't be at your company. And they have to go and you have to find, and we would have people, and we didn't always defend this. And when we started defending it, everything got better. But all of a sudden, we would say like, hey, like it seems like this is really tough. This is how we think about things. This is how we handle this type of behavior here. If that's hard for you, let's find you another job. And thankfully, we're not digging ditches here. We're all working in tech. And so it's easy, quote unquote enough, to find another gig, even in, you know, economies like that.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  30. “Instead of getting pissed off going to HR or like getting mad at you, what we would do is we'd say, hey, like the right way at ProfWall to handle that was be like, oh, he didn't know, so I'm not going to bring it up. Or, hey, you probably didn't know, but I don't really like when people comment on my shirt. It seems super trivial, but when you have over 20 people, all of a sudden these things start to come up. And I think most of the time we infantilize our teams where we let them run to kind of HR, we have different policies or all of these different things. But at the end of the day, you're paying an exorbitant amount of money for very smart human beings to basically do stuff. And you want them basically working together and not having to go in this runaround with policies and people to kind of push things forward.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  31. “So, super actionable things that we've done. I think one, it kind of comes back to the baseline feedback or advice you've probably received. Who are you for? Like, who are you for? And who are you not for? I think really defining that in your values. And values aren't values unless there's an actual trade-off, right? And so we had things like optimize for the long term. There's a clear trade-off when we optimize for the long term. You probably give up short-term revenue, right? You also have different types of people that do better at the particular company than not. One of the more controversial things we did is we talked a lot about behaviors. The one thing that we had is this thing, this concept known as the most charitable interpretation. It's not something we made up, but there was this idea that basically when there's conflict or when there's some sort of confrontation, the way that you handle that confrontation was really, really important to us and the way that we wanted our teams or the people that we wanted to hire for basically would take the most charitable interpretation of that confrontation. So Lenny, if you were like, hey, Patrick, I like your shirt. And I just didn't like when people commented on my shirt.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  32. “Corporate tech is only about 10.8 months, so just under 11 months. And there's no way that team is everything, or at least we actually believe that when the purveyors of your team, your management, only last that long. It's just impossible. And I think for the most part, PeopleOps is an afterthought. And even if you get into the history of HR, which we should not do because that's an entire podcast, it's all about reacting. It came out of the labor movement and the mid-1900s and it was all about, hey, how do we CYA? rather than like how do we push our team forward. And I think in tech, we had the opportunity to do that. But we haven't really focused on our team as much. So I don't know if I answered your question, but that's kind of the scope of that problem, I think, is we don't actually focus on our team. We don't actually focus on our team in the context of the mission. We kind of just hire people, hope they're really happy, and obviously I'm generalizing. But if you look at, you know, the stats and you look at kind of what's happening, that's how it shakes out.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  33. “You look at most data or most behaviors that most companies make, this isn't actually how we think or what we do. Let me give you two fundamental issues. I think the first one is we confuse team by being everything to all people, to accommodating to every single person, and especially in tech the last couple of years. Maybe that's going to change a little bit now. But it was always like, oh, everyone needs to be happy. And I think that's a really, really big misconception because you're not there to make everyone happy. You're there for some sort of mission and some sort of goal and you want to set up the culture and the team in a way that gets to that particular goal. And I think the little bit more actionable way to look at this is I don't think we actually focus on our team. The average tenure of a manager in tech right now is about 15.7 months. I actually went and looked into this mainly because we got into hyperdrive about team a couple of years ago. The average time a report has the same manager.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  34. “You always have to start answers with cliches. And I think the biggest cliche with building a team is team is everything, right? Like if you're listening, you've heard that. You've probably said that to somebody or gotten mentored on that. And I was told that in the early days of building. And I actually thought it was terrible advice. I thought it was going to be like the product or marketing or something that was going to hold us back. But I think that although team is everything and I truly believe that.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  35. “Yeah, 100%. Let's do it. I'm going to change my Twitter bio to that renaissance of a brain. That's a good missive for me. Yeah, I appreciate that.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  36. “Thanks for having me, man. Good to finally, we've been texting chatting for years now, and I just realized we've never had an actual conversation. So this is where the relationship and the friendship ends because we realize how awkward we are together, I guess.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source

  37. “The Bratty thing here is that real professionalship. Like at the end of the day, like real professional, I don't care what, if you're a marketer, a product person, engineer, like it doesn't like ops person, people ops, real professional ship, and they ship at a pretty high frequency for whatever they're doing. In my opinion, your tempo framework is more important than your org design. And so if you've ever had like a team that seems really, really smart, but they're always planning or they don't really like ship a lot or you've had trouble where everyone kind of gets it at the leadership level, but then the team below them and below them seems to be kind of going in a different direction. You probably don't have enough alignment and you don't have enough alignment on like what good looks like in terms of like tempo.”

    2023-02-19 · Lenny's Podcast · 10 lessons on bootstrapping a $200m business | Patrick Campbell (ProfitWell) · IDENTIFIED FROM THE TRANSCRIPT · source