Founders who genuinely care for the financial (and mental) well-being of employees are G-d-send, unlike Soan-papdi distributing (multi) millionaires or the pseudo-philanthropists who get second-hand cars and bikes for their employees, for which the amount is gradually deducted from their salaries! Jyoti Bansal, the founder of AppDynamics, seems like the former purely on the merits of making his employees richer. Hopefully his venture does care for the work-life balance as well. The 46 year old IIT Delhi alumni has built multiple unicorns, with his first being acquired by Cisco. Founded in 2008, AppDynamics was bought by Cisco Systems for $3.7 billion. The deal made shares of approximately 400 employees soar to $1 million each, with shares of about a dozen employees reflecting a $5 million-plus outcome. While Bansal had some regrets about selling off the company, ultimately what mattered to the techpreneur was the employees. Achieving the valuation all by itself was a tough task within a short time frame; hence, the decision to sell off was validated with several employees putting the money to good use, buying homes and new cars, and one employee even taking six months off only to vacay around the country in a rented RV.
‘My cheat code is to not do multitasking’: Indian-origin founder of three #startups who made 400 #employees millionaireshttps://t.co/VZj1ED9RAZ— Hindustan Times (@htTweets) October 17, 2024
Indian-Origin Founder, 46, Turned 400 Of His Employees Into Millionaires. Here’s How https://t.co/rZaJVfoOvE pic.twitter.com/iBRQiQe8mc— NDTV (@ndtv) October 16, 2024
Any advice for founders? In his X/Twitter post, Jyoti Bansal emphasizes building “a great product” before anything else. And solving problems that the customers really have. He gives the example of McDonald’s’ Ray Kroc:
“For all of his mastery in marketing and franchising, he knew THE BURGER HAD TO BE GOOD!”
One of the biggest mistakes I see founders and CEOs make is getting too ahead of themselves by jumping to marketing, distribution and scaling before having nailed the product.
Without a great product, you don’t have a company.
From day one, founders need to focus relentlessly…— Jyoti Bansal (@jyotibansalsf) September 20, 2024
There’s a reason only half of startups make it to the 5 year mark. To build a company that lasts, you need to get 3 elements right — product, GTM and operations. — it’s no piece of cake. But there’s a catch.
My 3-layer cake concept: https://t.co/eD0A7fmcpV— Jyoti Bansal (@jyotibansalsf) July 18, 2024
Meanwhile
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