Be obsessed with simplicity.
Every Business is Just an Equation
- Most companies can be reduced into a simple equation that relates cost and revenue variables.
- At Square, Rabois and the team focused on isolating one variable — cost per customer.
To Grow Fast, Throw Out The Org Chart
- Rabois has a term for people who display high levels of strategic thinking — barrels.
- When reorganizing a company, start by listing the company's problems next to the barrels that will solve them.
- It's critical to get your most talented people working on the most important problems.
A Simple System For Nurturing Talent
- Give top talent more and more responsibility until they either reach a point of failure or are capable of running the company.
- Give your employees the chance to test themselves, while simultaneously reassuring them that reaching a personal point of failure is not a punishable offense.
A Leadership System - Not a Leadership Style
- Don't have just one leadership style.
- Have a system for delegating work that allows you to manage employees differently depending on your confidence in their plan of action.
Simplicity is Speed, and Speed is Growth
- The key to speed is simplicity.