Gusto

“And if you've made the request a non-compounded question, then there really are only five acceptable answers. And I will challenge you to write these down and see how crisp people commit versus how vaguely they commit. So five answers. Yes, I commit. I'll do i…”

“My job as title of COO at Gusto has, in title only, remained the same. Every six months, it's an entirely different job. The expectations are higher because we have more customers. The complexity gets bigger. Our product set has expanded.”

“No, if you commit, you also deliver, and if you don't, you apologize. You apologize publicly, and you don't give a long backstory about why you could have done. You say, I'm sorry, I committed, I didn't get it done, and that's unacceptable because we hold ours…”

“The trick is not to try to always, or not to, it's not even possible to always be in the driver's seat, but you can equip people to recognize when they're being pulled into a passenger mindset, and then get them back to a driver mindset.”

“Really, really bad kryptonite is urgency to hire a role-related specialist. I need the best engineer. I need the best salesperson. I need the best finance person. So I'm gonna screen only for their capabilities against that role-related need. No, equally, if n…”

“At the end of that time period, if it has not gotten remarkably better, the person needs to go. And you need to be willing to take the hit to revenue or product delivery or whatever it is that that person was so amazing at, but I guarantee you the short-term h…”

“Gusto now serves a 100,000 small businesses. We have 1000 employees across three locations. San Francisco, Denver, and New York. And everything in the past four years has grown by more than 10 X. Our customers, our employees, our revenue.”

“Gusto, again I, I've been an investor while I was an investor in a previous fund, and Gusto is the sort of more premium HelloFresh in the UK, if you like and they've become the market leader in the UK and by relentlessly focusing on executing in the UK, you kn…”

“The second mistake, which we've seen pretty much hundred percent of YC companies do, including the founder who's going to talk after me, which is Josh and Gusto, you should ask him, is they all underprice.”

“So for the first entire year, I was actually shocked at the stat. Can anyone guess how many customers Gusto had? Any guesses? Two thousand? 50? That's a wide range. What's that? One million. Okay, from your mouth to God's ears, we still have to hit a million. …”

“We do three, four year horizon arcs at Gusto. That works backwards into one year planning with an 18 month financial window.”

“Gusto today is about 2600 people. We serve in the range of, you know, five to 10% of companies in the U.S.”

“You know, in our context, you know, it took from our starting of the company to a public launch, we obviously had some early customers, friends using the product, but to a public launch, it was about a year and a half. And that was time when we obviously were …”

“And I think this is a principle that applies to a lot of companies, maybe all, I'm not sure. But especially when you're in a space that has compliance or really solving mission critical activities. For us, it's like getting people paid on time correctly, accur…”

“Before you scale it, you have to prove out the unit economics, because if you scale something with poor unit economics, it just means you're going to have a small bad business become a big bad business, right?”

“And so what, the way that we kind of described what we did to people was we basically wrote an email that was something along the lines of like, look, I'm sure that you have like you know, an automated process for like onboarding employees and managing HR and …”

“We never had accountant partnerships when all of our competitors like Gusto, you know, had an enormous amount of their revenue in the early days came from the accounting channel.”

“When Josh would hire a new executive, I think he wouldn't let him work for, 60 days.”

“We also, though, at that, for that segment, we have a very large channel business as well. Think like Gusto. They're Payroll providers, Gusto, Paylocity, where we're embedded in that experience. Same for applicant tracking systems like Greenhouse or HRIS like …”