(MENAFN- ValueWalk)
GLITZCUBE / Pixabay
Faisal Masud, CEO of e-commerce startup Fabric, says he climbed up the ranks at Amazon Inc (NASDAQ:AMZN) and google – Alphabet Inc (NASDAQ:GOOGL) – and learned everything he could about their business cores to develop a company currently worth over $1.5 billion.
Applying Experience
Masud told CNBC that, after becoming CEO of the company, he worked hard to implement every drop of knowledge he acquired by working at these two tech giants. He implemented a culture of success, empathy, and efficiency, which has taken Fabric to achieve a solid market cap.
Get Our Activist Investing Case Study!
Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below!
Q1 2022 hedge fund letters, conferences and more
Odey's Special Situations Fund Protected Capital And Refocused On Macro Factors [Exclusive]
Odey's Special Situations Fund declined 3.1% for April, bringing its year-to-date performance to -0.16%. The fund's benchmark, the MSCI World USD Index, was down 8.31% for April, bringing its return for the first four months of the year to -13.03%. Odey's Special Situations Fund has recorded a 29.8% compounded annual growth rate since its inception Read More
The entrepreneur said,“Culturally, we've built a company that's sort of a hybrid of all the companies I've worked at. We're able to take the best pieces out of the places I've had experiences and apply those.”
Fabric creates e-commerce software that is currently challenging well-established platforms such as Salesforce Inc (NYSE:CRM) and Shopify Inc (NYSE:SHOP).
His approach to culture is a direct result of his 10-year stint at Amazon , and he underlines how work culture can directly exert a positive impact on results and success.
Inspiring Lessons
Masud said he founded part of his success by following one of Jeff Bezos' leadership principles,“ownership.”
“When something failed, it was nobody's fault. When something was successful, everybody got to celebrate. That's not how start-ups work. Someone has to make a decision.”
After a successful career at Amazon, he joined Google where he picked up the one of the company's more essential values,“empathy.”
“Being very empathetic towards your employees was also very important, because that's something Google does really well,” he said.
Empathy is, according to him, the most important and long-lasting value he wants to instill in Fabric's work culture, for which he has come up with the mantra,“Seek to understand before being understood.”
“Listening attentively, versus just because you have to, brings about a thought process that's different to just executing quickly. Our culture is sort of embedded in the fact that we're good listeners. But we also use data and facts to make our decisions at the end of the day.”
Updated on May 13, 2022, 2:23 pm
MENAFN13052022005205011743ID1104211104
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.