Jason Cohen discusses sharing credit with WP Engine CEO Heather Brunner and overcoming founder ego to scale companies.
Insight
Cohen: Servant leadership leads founders to do scut work and burn out
“This crappy word, servant leadership, it leads to stuff like this. This is the scut work that needs to be done, and I can do it, so I'll do it so the team doesn't need, doesn't have to do it. That sounds altruistic, and what it does is burn you out because you…”
Assertion Supported
Columbia study: 21 of 22 wealthy exited founders were depressed
“So there was a study, ah, ah, by Columbia Business School of 22 entrepreneurs who all exited their businesses and made ten million or more personally from it. So in other words, success. 21 out of the 22 were depressed after having that success.”
Disclosure
Cohen: Terminated employees have required restraining orders and committed suicide
“What if they get violent, and you have to take out a restraining order? I've had to do that. What if they get depressed afterwards and kill themselves, and you have to explain it to everybody? That has happened to me.”
Insight
Cohen: Founders cannot master non-core skills in months to hire A-players
“The idea that you can become an expert in something important, something that's an entire career for someone else in a few months and then hire an A player. That's, of course, not true. So you're actually a C player at best.”
Insight
Cohen: Founders must make emotionally difficult choices throughout to avoid burnout
“I think you have to make emotionally difficult choices, and I'll be very specific, all along the way to build a healthier company and to make you also maybe avoid this fate”
Insight
Cohen: Be General Patton on firing decisions, Mother Teresa on the exit
“Delaying only hurts everybody, everybody, you, the team, the person. Be decisive. Our CEO, Heather Bruner, has a terrific phrase about this, which is, General Patton on the decision, Mother Teresa on the exit. Be decisive, and then be kind.”