Long-term vision and thinking do it all!
Faisal Masud, 49, is the CEO of Fabric, a Seattle-based e-commerce startup with a $1.5 billion valuation.
Faisal Masud knows what it takes to make a multi-billion dollar company thrive.
The 49-year-old has spent more than two decades climbing the executive ranks at Amazon, Google, eBay and Staples. Now, he’s trying to apply the lessons he’s learned from those successful companies as CEO of Fabric, an e-commerce startup based in Seattle, launched in 2016 and is valued at $1.5 billion. (The company was named “Fabric”, to avoid confusion with an online insurance company called Fabric Technologies.)
Masud is backed by co-founder Ryan Bartley as CEO in 2020, a colleague he was very close to while working at Staples. When he stepped into this role, Masud says he’s trying to apply what he’s learned from previous employers to create a work culture that values empathy, efficiency, and above all, success. work at Fabric.
Masud told CNBC Make It: “Culturally, we built a company that was like a hybrid of all the companies I’ve worked for. We distilled the best points from places where I’ve worked and applied them to my current company.”
Fabric is an e-commerce software specifically designed for medium and large businesses. That pitch was clearly good news for investors, who invested $293 million in the company.
Faisal Masud, CEO of Fabric, a Seattle-based e-commerce startup with a $1.5 billion valuation
Fabric says there’s one thing he’s learned from Amazon, where he’s been for nearly a decade, and that’s how Work culture can impact a company’s bottom line how.
At Fabric, Masud lectured on “ownership,” one of Jeff Bezos’s famous 14 key leadership principles: Having a single team of employees or a single team leader “owns” an idea or project. makes the decision making process more rational and efficient.
Masud says he used to work in a non-proprietary environment and it was really messy. “When something fails, it’s not anyone’s fault. When something succeeds, everyone celebrates. That’s not how startups work. There always needs to be someone. that acts as a decision maker,” I said.
After leaving Amazon, Masud worked for several years at Google and eBay as senior director of shipping for eBay until 2012 and COO of Alphabet’s Project Wing drone delivery division since 2012. 2018 to 2020, and there he learned a new skill in the workplace that is in direct contrast to Amazon’s culture: empathy.
“Empathy for employees is also a very important work culture, because that’s what Google does very well, and so does eBay, while Amazon is not so great.”Masud shared.
Currently, the culture of “No.1 value” that Masud is trying to adopt at his company is born from the lessons of empathy he learned at Google and eBay: “Try to understand others before being understood.” A company in which all levels are connected and mutually understood will grow stronger from within, and at the same time create the most optimal profit.
“Listening attentively, rather than doing it casually, offers a different thought process than trying to do it quickly. Our culture is where we are But we also use data and facts to make our decisions at the end of the day.”he say.
Working with famous startup founders like Bezos and Sergey Brin of Google also teaches Masud value of Think long-term and focus only on the core areas where your company excels.
Masud shared: “These founders always have a long-term vision. The question they always ask is: ‘Ok, what is the ultimate goal of the company?’ And then they figure out how to avoid distractions along the way.”
Masud also says that the lessons he learned in previous workplaces, to some extent, quietly laid a solid foundation for him to become CEO: “As one of our investors said: ‘The work you’ve done over the past two decades has been the stepping stone to building Fabric, you just didn’t know it.'”
All that you have ever experienced, maybe at the moment, it does not bring you a clear result, but one day, it will definitely become a powerful tool on the way to the future. your certain goal!
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
