SaaSy Talk Unfiltered: The Journey of Cin7
A CEO's Perspective on Tech, Growth, and Culture: How a kiwi-born company is making a mark on the global stage
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David shares his journey in the tech industry, from his early days as a young boy tinkering with technology to his current role as CEO of Cin7. He discusses the challenges and rewards of leading a company, the importance of building a strong leadership team, and the strategies he uses to drive alignment and engagement within the organisation. David also talks about the role of metrics in business growth, the process of mergers and acquisitions, and the future of Cin7.
Introduction: A Passion for Tech and the Birth of Cin7
David's journey in the tech industry began at a young age, fueled by his curiosity and passion for technology. He recalls, "I was that kid that would read the user manual on the VCR and the TV, and did IT support for my mum and dad and brothers and sisters." This early exposure to technology laid the foundation for his future career. David's love for tech continued to grow as he taught himself how to code and explored the world of gaming on his Commodore 64.
Fast forward to the present day, David is the CEO of Cin7, a global tech company that provides cloud-based solutions for small and medium-sized businesses. Reflecting on his journey, David shares, "I've always been into it. That was the early part. And present day, outside of work. I'm IT support for my wife and kids." This passion for technology has been a driving force in David's career, leading him to his current role at Cin7.
Growing Up and Moving to New Zealand: A Journey of Love and Adaptation
While David leads a Kiwi business, his accent reveals his Australian roots. He explains, "I married a beautiful Kiwi, so I've been living in Auckland since 2006. But I'm from Sydney, Castle Hill, so Western Sydney." Despite his Australian background, David has embraced New Zealand as his home and enjoys the best of both worlds by visiting Australia to reconnect with family and friends.
Rewarding Moments at Cin7: Celebrating Achievements and Impactful Appreciations
As the CEO of Cin7, David has experienced many rewarding moments throughout his tenure. One such moment stands out when Cin7 was announced as a finalist at the New Zealand High Tech Awards. David recalls the excitement and joy shared by the team, saying, "They read our name out on the TV saying we're a finalist, and everyone just made this massive cheer. We were popping open champagne, and I was filming it at the same time on my mobile. That was a really cool memory."
Beyond the accolades and recognition, David finds the most rewarding moments in the deep and meaningful appreciations from customers and team members. He emphasizes the importance of making a positive impact on people's lives, saying, "It's the meaningful appreciations that I remember, where you've changed their life or you've given them a career. That's pretty special."
Challenges and Overcoming Obstacles: Navigating the Path to Success
Running a business is not without its challenges, and David has faced his fair share during his time at Cin7. One significant challenge was a product issue that caused major pain for customers. David recalls the experience, saying, "We had some product challenges. It broke and took engineering quite a lot of time to diagnose it, get to the bottom of it, and fix it. It was quite a serious issue."
Navigating such challenges requires effective communication and a commitment to finding solutions. David emphasizes the importance of addressing issues early and learning from mistakes, saying, "Catch poor performance and poor behavior early before it becomes a bigger problem. Take the best parts of this terrible situation and do something about it so it doesn't happen again."
Building a Successful Leadership Team: The Power of Collaboration and Diversity
David understands that a CEO is only as good as the team they lead. When it comes to forming a leadership team, he likens it to building a basketball team, with each member playing a specific role. He emphasizes the importance of hiring experts in their field who have the right experience and skill set to drive the company's strategy.
In addition to expertise, David values diversity within his team. He believes in hiring people who are not like him, as it brings different perspectives and thought partnership to the table. He says, "I like to lean on them, and they can lean on me. We're better together because we have these different and complementary skill sets."
Driving Alignment and Engagement within the Team: Communication and Rallying the Troops
To ensure alignment within the organization, David emphasizes the importance of effective communication. Cin7 utilizes various communication channels, including global all-hands meetings and cascaded comms, to keep everyone informed and engaged. David explains, "We have a global all-hands, and we have a monthly senior leaders meeting. We create a short slide deck that we use as cascading comms. It helps everyone understand the efforts that are distinct to business as usual."
In addition to formal meetings, David believes in creating a culture of collaboration and rallying the troops around a common goal. He shares, "We use the concept of a rally cry, which is a company-wide challenge that you set for yourselves. It encapsulates what's most important right now for the whole company. We set goals and get everyone swimming in the same direction to go and kick the goals."
The Importance of Metrics in Business Growth: Hero Metrics and Beyond
Metrics play a crucial role in driving business growth, and Cin7 has developed a unique approach to measuring success. They introduced the concept of hero metrics, which are ratios comparing new ARR (Annual Recurring Revenue) to marketing spend and sales costs. These hero metrics provide a balanced view of the business's performance and help track progress towards the rule of 40, a key growth target.
Beyond hero metrics, David also emphasizes the importance of tracking customer support, responsiveness, and online reviews. He believes that a focus on customer experience and continuous improvement is essential for long-term success.
Cultivating a Winning Culture: Clarity, Collaboration, and Performance
Culture is a cornerstone of Cin7's success, and David has worked hard to cultivate a winning culture within the organization. He emphasizes the importance of clarity of roles, low politics, and a work environment where people can be themselves. Collaboration is also a key focus, both within teams and across teams, to foster a culture of teamwork and innovation.
David believes in driving a performance culture and raising the bar for excellence. He draws inspiration from the concept of "amping it up," which involves setting high expectations and challenging individuals and teams to exceed them. He says, "This is the expectation. This is exceeding expectations. This is below expectation. Just being really clear around this and creating a culture of strive where everyone's trying to be their best."
Scaling a Business through Mergers and Acquisitions: Lessons Learned and Integration
Mergers and acquisitions (M&A) are a key pillar of business growth, and Cin7 has successfully navigated this path. David shares his experiences and lessons learned from the M&A process. He highlights the importance of clear communication, culture assimilation, and taking the time to integrate the acquired company effectively.
David acknowledges that M&A can increase the complexity of a company but believes that a strong culture and a focus on assimilation can lead to successful outcomes. He says, "We deeply integrated the company, and I call it one company inside and out. We've removed all the confusion and got everyone really in the headspace that we are Cin7."
Maintaining Effective Communication with the Board: Collaboration and Support
Effective communication with the board is crucial for driving the company's success. David emphasizes the importance of collaboration and a supportive relationship with the board. He describes their interactions, saying, "We have formal board meetings four times a year, and we also have a monthly operating committee meeting. I have an informal one-on-one every week with the chairman. It's a relationship."
David values the board's support and appreciates their collaborative approach. He shares an anecdote that highlights their camaraderie, saying, "I have this navy shirt with pink flamingos on it, and I wore it once to a board meeting. The very next board meeting, they're all wearing one."
The Future of Cin7: Innovation and Customer Experience
Looking ahead, David is excited about the future of Cin7 and the company's focus on innovation. He reveals that the upcoming year will be dedicated to deliberate design and stepping change in the customer experience. Cin7 aims to invest time, effort, and resources into designing a customer experience that aligns with their strategy and exceeds customer expectations.
David believes that innovation is key to driving the company forward and maintaining a competitive edge. He says, "I want to end 2024 by being great at innovation. At a company level and a team level and that individual level. We're going to work hard on it. We're going to lean on our culture and drive it."
Conclusion: A Journey of Tech, Growth, and Culture
David's insights and experiences provide a glimpse into the journey of Cin7, a tech company that has achieved global success. From his early days in tech to his role as CEO, David's passion for technology and commitment to building a winning culture have been instrumental in Cin7's growth. Through challenges, mergers and acquisitions, and a focus on metrics and alignment, Cin7 has emerged as a leader in its industry.
As Cin7 looks to the future, innovation and customer experience will be key drivers of success. With a strong leadership team, a supportive board, and a culture of collaboration and performance, Cin7 is poised to continue its growth and make a lasting impact in the tech industry.
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Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any company mentioned.
