Jul 04 2024 65 mins
What's the secret behind scaling not one, but two multi-million dollar companies?
What better person to talk to about growing businesses than Jason Cohen, the founder of WP Engine and someone who has been navigating the world of technology for more than 30 years!
In this episode, our hosts IBB and Mia talked with Jason about his passion for blogging and how it has been a key aspect of his journey as an entrepreneur. He emphasized the importance of writing to organize thoughts, share ideas, and receive feedback from the audience. Cohen highlighted the ego-driven aspect of blogging, where positive feedback and impact on readers serve as motivation.
Throughout the episode, our guest shared his experiences from bootstrapping to scaling using VC money - both with SmartBear and WP Engine. He talked about the critical shift in focus from exploration and experimentation to optimization and defense of existing strategies post-product market fit. He pointed out the challenges of managing rapid growth, including the need for effective delegation, as well as hiring the right people and adapting to changing organizational dynamics.
Cohen also touched upon the importance of hiring individuals who are not just skilled, but also passionate about their work. He shared his views on the need for hiring individuals who are better than the founders with the work they do, in order to drive further improvement and growth within the company.
Along with the hosts, our guest also discussed why founders choose to hire CEO's, why it's not an easy choice, and why the decision is always hard because of the ego. Stay with us for the rest of the interview as we explore the lessons behind scaling to hundreds of millions in revenue, and why starting a company is much about personal growth as well as it is about money!
Timestamps:
00:00 - Intro
01:20 - Blogging since 2007.
03:24 - Growing your audience
06:31 - Writing as a form of marketing
10:33 - This can help with the hiring
12:30 - Bootstrapping WP Engine
13:05 - Growing was a choice
15:30 - How to price your services?
16:51 - Why 2nd time founders fail?
17:13 - Bootstrapped vs. VS money growth
19:41 - Founders can be obstacles
22:06 - Hiring a CEO
26:35 - Solving bigger problems
32:04 - Why do OKR's fail?
32:36 - You can't use off the shelf solutions
34:05 - Should EM's be good at coding?
38:01 - Hire passionate people!
45:51 - Difference between juniors and seniors
48:11 - Navigating acquisitions
51:40 - Why is culture important?
54:49 - Why do founders leave?
56:32 - Ups and downs
58:54 - What is next for Jason Cohen?
01:02:06 - Life after scaleups
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