SaaSy Talk Unfiltered: The Journey of a Unicorn Entrepreneur
Lessons from Ashik Ahmed, Co-founder of Deputy
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In this thought leadership article, we delve into the insights and experiences of Ashik Ahmed, the co-founder of Deputy, a successful software company borne in Australia. From the challenges of building a startup to the importance of culture and the role of a CEO, we uncover the key takeaways from Ashik's journey and their implications for the future.
Introduction: The Trials and Triumphs of an Entrepreneur
Starting a business is a journey filled with both triumphs and trials. Ashik Ahmed, the co-founder of Deputy, understands this all too well. In a recent podcast interview, he shared his experiences and insights, shedding light on the challenges faced by entrepreneurs and the lessons he has learned along the way.
The Importance of Cultural Alignment
One of the key themes that emerged from Ashik's interview was the importance of cultural alignment within a company. He emphasized that culture is not something that can be set or defined by a CEO or management team. Instead, it is the collective behavior of everyone within the organization. Ashik believes that as a CEO, it is crucial to lead by example and live the values of the company. He stated, "I needed to be the yardstick of culture myself…and publicly endorse people living the great values."
Ashik also highlighted the need to hire executives who are aligned with the company's values and mission. He acknowledged that finding the right executives can be challenging, but emphasized the importance of ensuring that they have a good heart and are aligned with the company's goals. He cautioned against hiring based solely on experience or resume, stating, "Just because they have done very well, it's not that they will do very well over here."
The Challenges of Scaling a Business
Scaling a business is no easy feat, and Ashik shared his own experiences and challenges in this regard. He emphasized the need for founders to focus on the right priorities and not get overwhelmed by the multitude of tasks at hand. He advised, "When everything is a priority, nothing is a priority." Ashik recommended maintaining a strict discipline in prioritizing one's time and focusing on the most important aspects of the business.
One of the challenges Ashik faced during the scaling phase was the rapid hiring of senior executives. He acknowledged that he made mistakes in hiring the wrong people for these roles and emphasized the importance of hiring executives who are aligned with the company's values and mission. He stated, "If you lose two legs, it becomes a little bit wobbly. If you're down to one or zero, you're flat."
The Role of a CEO and Balancing Board Responsibilities
As a CEO, Ashik discussed the evolving role and responsibilities that come with scaling a business. He emphasized the need to strike a balance between steering the ship and collaborating with the board. Ashik advised spending more time with the team and leveraging the board for their insights and perspectives. He stated, "If you spend way too much time managing the board, then you're probably not doing the job you're supposed to be doing."
Ashik also highlighted the importance of building a good relationship with the board and having open and honest conversations. He emphasized the need for founders to trust their gut instincts and not be swayed by the opinions of others. He stated, "If you think that is not the right person, your body already knows, and you just think of a million reasons why you're wrong."
Conclusion: Lessons Learned and Future Outlook
In conclusion, Ashik Ahmed's journey as an entrepreneur offers valuable insights and lessons for aspiring founders. From the importance of cultural alignment to the challenges of scaling a business and balancing board responsibilities, Ashik's experiences shed light on the realities of entrepreneurship. As the co-founder of Deputy, he has navigated the highs and lows of building a successful software company.
Looking ahead, Ashik is excited about the future of Deputy and the opportunities for growth, particularly in the United States market. He believes that the market is massive and that Deputy has the potential to become a leading brand in the industry. With a focus on operational excellence and a commitment to customer satisfaction, Ashik is confident in the company's ability to thrive in the years to come.
Aspiring entrepreneurs can learn from Ashik's journey and apply these lessons to their own ventures. By prioritizing cultural alignment, making strategic hiring decisions, and balancing responsibilities as a CEO, founders can navigate the challenges of building and scaling a successful business. With the right mindset and a commitment to continuous learning, entrepreneurs can overcome obstacles and achieve their goals.
