Latest / Success Story with Scott Clary / Lessons - From Refugees to $100M Exit | Lloyed Lobo - Community Building Expert

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Lessons - From Refugees to $100M Exit | Lloyed Lobo - Community Building Expert · Success Story with Scott Clary

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  In this lessons episode, explore why the future of successful businesses will be built around
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  community rather than commodities. Discover how to choose the right type of community based on
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  stage and purpose, understand why clear mission vision and value sustain long-term growth,
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  and uncover how aligning passion with service creates leverage that fuels durable companies.
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  So I want to go into to one more point that you sort of danced around but you didn't get into
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  because you had spoken about you know if you don't love helping people you don't love building
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  people and by the way the camper framework I think is completely valid and makes a lot of sense.
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  So I just I wanted to say like that is something that I think is incredibly useful internally.
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  I love that you're using it for community as well but I still want to go back to community
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  another point on that. So you mentioned if you don't love serving people and helping people
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  don't build community there's other ways to build your business but ultimately your belief is
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  and we're on the same page here that the future of business will be built around community.
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  I think that will differentiate businesses and allow them to achieve levels of success that
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  a commodity based business would not be able to achieve easily and even more so in the future but
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  how do you actually again the question everybody asks you how do you actually build community.
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  So say you're say you're down for this you you you subscribe to it you do want to help people you
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  understand that you want to serve a community you want to make people better than when they first
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  found your product and that's something that you subscribe to you just don't know how to do it.
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  So what is what is that step one for an entrepreneur that starting a company and is like I want to
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  build my company on a community framework what do I do next. Definitely so the first thing to
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  understand is you know I went through those six steps right those are the ethos you need to
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  keep in mind because that's what people create but then after that you got to differentiate and
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  understand the types of communities there are two types of communities one's a community of practice
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  where you're bringing people together who share a common goal of learning about a specific
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  field or a common passion like writing motorcycles and then there's a community of product which is
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  built for users to ask questions about your product get insights and stay connected with the company.
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  So it's really important to start with the community of practice because especially if you're
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  not a product market fit right you're early on it's important to start a community of practice
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  that's what HubSpot did right helping people become better digital marketers or gainside did
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  elevating the profession of customer success and helping people become better customer success
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  professionals if you don't have a product or your pre-product market fit you got to build a
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  community of practice if you build a community of product when you're pre-product market fit and
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  you're hawking your product all the time people might see that as contrived right they're like these
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  guys are just wanting to sell me stuff. So the step one is understanding what kind of community do
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  you want to build do you want to build a community of practice or a community of product and now
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  within each of them there are different type of sub-communities like a pool community or a hub
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  community or and so on what one of the best ways to build a community is where there's person to
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  person interaction not just a one to many so people within the community can interact
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  whether or not that central figure lives or dies right so it's very important to have that
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  personal to person but the step one is focus on building a practice community of practice to
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  elevate that field of learning or field of passion. Number one very important especially if you
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  don't have a product or your pre-product market fit. Number two is a line you know you need to
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  understand the purpose the mission the vision you got to write these down and a lot of people say
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  man you have bullshit things that people write in the wall it's bullshit you can't build a long
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  lasting sustainable company right so for me it's it's funny years ago I wrote down my purpose
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  mission vision values personally and it's it's funny the two kind of companies that I built both
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  and traction align with exactly that right why purpose in life is to enable innovators to change
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  the world why every dollar spending innovation returns 20 to the universe vaccines robots clean drinking
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  water is a function of innovation if you're not innovating you're gonna die my vision is to accelerate
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  that innovation be the accelerant of that innovation so then how do I do it right through
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  content through connections through community to capital so let's unpack that a little bit to
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  provide these innovators one of the biggest reasons why innovators fail is they don't have access
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  to resources simple content connections community capital right and so create a community that
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  provides that and then I created both to provide entrepreneurs to get access to innovation funding
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  and government incentives right so those are companies I built from from the purpose my innate
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  purpose and then the last thing is what are your values I think it's very very important because if
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  you values tell you how you behave every waking hour your your mission tells you what you do
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  every day your vision tells you what you will be as a result of that like what will the world look
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  like right and then your purpose is why do you exist what is the forever but your values are really
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  important and for me my values are impact passion teamwork right those are an empathy key things
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  and so I realized that for me those things are so important it's so important to have impact
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  impact over power and money people who hunger for power destroy relationships people who just
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  focus on money make short-term decisions this is like the like the Wall Street people who focus
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  on impact can change the world so impact passion passion because you know I've seen
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  as oftentimes people would they lack an experience 10x overcompensate with passion
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  teamwork because you can't win alone you win together you lose together great great outcomes are
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  are a result of many people collaborating not just one and empathy empathy is really really
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  important if you don't have empathy you can build good products you can build lasting companies
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  and so you know you need to understand that those two things right what are you building what kind
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  of community what what is the purpose the mission the vision the values because the thing is this
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  those things are important although they're hard because it sustains right you don't build something
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  that start and stop if you're just doing it to get something out of it then you start and stop
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  it's important to internalize what is your purpose and so on then you got to figure out
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  who is your ideal customer profile can I ask you something can I say on the quick before before
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  before you so how did you figure out yours how did you figure out yours and you made sure that
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  they sustained across both of your companies so it's it's funny I didn't make sure they sustained
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  across both my companies it's just my behaviors caused me to go in no but that means that you've
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  found that means that you found things that were valid or else you wouldn't have they wouldn't have
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  so you know I often tell people when you're in an interview don't ask somebody what do you
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  what do you create at what do you not create at just observe them right because people
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  will bullshit anyway but when you observe them so I often found myself what do I love doing
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  we're like even if I didn't get paid to do it and for years I didn't get paid to do it I would
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  keep doing before I started traction I was doing community building at startup weekend I used to
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  facilitate fly on my own dime I ran a pre-accelerator called startup next I was doing all this
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  community support stuff every time that drove me and the things I hated were like you know things
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  that actually paid the bills like doing financials and all that stuff like you know what let me pause
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  your first second like what am I missionary what am I right so so then you realize it and trust
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  me this works right what are the things you procrastinate on you should never do them if every
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  week you hit snooze on your Google Google email like I have this thing where I block either
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  counter times or I mark emails under it and the things that I keep putting snooze on week there's
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  like some stuff that's been snooze for two years almost every week right dude I think exactly
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  what you're talking about I know exactly what you're talking about I have emails sitting in my inbox
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  right now you just said that and it's like motivated me to like just delete them and never talk
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  because I know that I don't want to do the every Friday I snooze like bi awake bi awake right
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  and so you got to realize the most important thing for a founder or any creator let's just say it
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  right is leverage so what are the things that you know you're passionate about when passion meets
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  profession you become Michael Jackson or Michael Jordan right when passion meets profession just
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  think about that for a second when passion meets profession is not work anymore you're Michael Jackson
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  man you love dancing you love shooting hooks right and so you got to find that and for me it was
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  helping others and it just didn't come innately I think it was my upbringing a lot to do with the
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  Gulf War my parents grew up in the slums in India in Mumbai and my mom had 10 siblings they didn't
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  have their bathroom anytime I'd go there there would be some stranger staying in their house
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  because Mumbai is like the New York City of India and I asked them like what do you have the
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  stranger staying here like why you guys don't have room and and I'd often hear that you know if
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  you help enough people get through their destination you'll get to your destination those people
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  may not help you but the karma comes back and so like a lot of the life is what how you behave
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  as part nature and part nurture a lot of it this part nurture right and so I'd seen that growing up
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  and so just very naturally I would do stuff and people would tell me like you know throughout my
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  career like what are you doing like volunteering here and the why are you like wasting it like what
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  are you doing and then I came to a conclusion after a couple of failed startups that this is my
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  life's mission man and this is what I like doing right even now at both now both raise the 23
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  million dollars USD series A we did a hundred million dollar fund to fund innovation and R&D
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  and all my time is spent running traction everything else I procrastinate on so so you eventually
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  come to the conclusion what do you love doing versus what you're okay with doing and what do you
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  hate doing and if you can surround yourself with people fulfill your gaps so you can do what you
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  love doing then you'll you'll have a happy life forever so that's how I came up with it.