The Dynamics of Change - Gary Garofalo - Shift & Thrive - Episode # 019
In this week’s episode of Shift & Thrive, Natalie sits down with Gary Garofalo, CEO and co-founder of Loud Crowd, a pioneering creator management platform. Gary discusses his journey from management consulting to entrepreneurship and the extensive experience he has gained in the rapidly evolving worlds of e-commerce, affiliate marketing, and digital influencers. Together, they explore the challenges and strategies of driving major change within an organization, the pivotal role of human capital, and the importance of a culture that embraces failure. Stay tuned as Gary elaborates on the key components of fostering a culture of change, balancing risk, and the continuous quest for improvement and innovation in the software industry.
Takeaways:
- Hire people excited about change. Look for individuals who are naturally excited about change. These people are likely to adapt more quickly and effectively to new directions.
- Foster a culture where failure is okay. Encourage a culture where failure is accepted. This empowers team members to take risks and innovate without fear of repercussion, which is essential for growth.
- Have a clear and compelling value proposition. Ensure that the company’s value proposition is clear and compelling. This starts with the website and permeates through all marketing and sales communications.
- For major company pivots, ensure your leadership team is fully aligned and committed. Their buy-in is crucial for successful implementation.
- Provide support for your team during major transitions, recognizing the increased workload and stress change brings, especially to support and engineering teams.
- Align your product and company goals with long-term metrics valued by your customers. For example, shifting to revenue-based metrics rather than vanity metrics.
- Balance support for old and new products: When pivoting, find a balance between supporting old products and dedicating resources to new developments. Overlap is inevitable, but focus is crucial.
Quote of the Show:
- “If you show your team that you are willing to fail and you are willing to be incorrect more often than you're correct, it's going to trickle down to the organization and set the right tone for others to do the same.”
Links:
- LinkedIn: https://www.linkedin.com/in/garyugc/
- Website: https://loudcrowd.com/
Ways to Tune In:
- Spotify: https://open.spotify.com/show/2D1YbT2QhKxIwbREpU7EMb
- Apple Podcasts: https://podcasts.apple.com/us/podcast/shift-thrive-ceo-insights-on-driving-change/id1740828813
- Amazon Music: https://music.amazon.com/podcasts/fa60b654-1955-4055-93df-fdd40c2a5c8f/shift-thrive-ceo-insights-on-driving-change
- iHeart Radio: https://www.iheart.com/podcast/269-shift-thrive-ceo-insights-166792501
- Pandora: https://www.pandora.com/podcast/shift-and-thrive-ceo-insights-on-driving-change/PC:1001086797
This show is sponsored by Magnetude Consulting, bringing you the thinking-Power of a Growth Consultancy and the Getting-It-Done Power of a full-service B2B Marketing Agency.
Learn more at: https://www.magnetudeconsulting.com
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