The Boise startup culture is clearly growing. We've seen success in companies built and scaled right here in Boise - names like TSheets, Cradlepoint, Clearwater Analytics, and more. We anticipate that the startup scene will continue to grow, and are excited to be a part of the growth.
Our team was selected as one of eight local startups to present at Develop.Idaho. Each startup had five minutes to explain the WHY of what we are doing, who is doing it, and where the company is going. There were a lot of small companies with big vision. What an exciting time to be in Boise!
In terms of takeaways, we had several from the event, but I'll only highlight what I thought was the most impactful. We were privileged to have Gregg Kaplan, CEO of Redbox, as the keynote speaker. He shared some lessons learned over the years of building Redbox from the ground up.
Lesson #1: Knowledge is power
Write everything down. Gregg has an Evernote compiled with notes from with years of wins, losses, and lessons. He started documenting after college and still does to this day. He claims that if it isn't written down, you will forget, guaranteed.
Be open and honest in communicating with your team. He mentioned that they share all financials with employees, whether they are good or bad. This not only teaches employees about the importance of financials, but builds trust. This creates loyal employees who are vested in doing whatever they need to do in order to see the company grow, even when times get rough.
The most important decision a company makes is hiring. Having good people is imperative to success. At Redbox, Gregg mentioned they have a "hiring matrix." This appears to be a hefty process involved in selecting the right talent. Eight people have to interview a candidate, and everyone has to be signed off before an offer is given. Wow! He takes that pretty seriously.
Celebrate your wins. This comes back to company culture. Everyone is encouraged to celebrate wins. Gregg claims that this is what has made them successful. This also builds a strong bond between team members, increasing loyalty and resulting in happy people and company success.
We thank Gregg and everyone else at the tech conference who shared their stories of failure and success as we continue to build and scale our team and product!