Success Story with Scott D. Clary

Lessons - Building a Business Around Purpose, Passion, and Community | Lloyed Lobo - Co-Founder & President of Boast.ai

Sep 14, 2024

Lloyed Lobo, Co-Founder and President of Boast.ai, dives into the art of building community-driven businesses. He emphasizes the critical choice between a community of practice and a community of product, advocating for the former in early stages. Lloyed highlights the importance of purpose-driven leadership, outlining how a clear mission and values guide decision-making and foster genuine connections. He also shares insights on aligning passion with profession, showcasing how this alignment can enhance fulfillment and drive business success.

10:18

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Episode guests

Lloyed Lobo

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Quick takeaways

Establishing a community of practice is vital for early-stage companies as it fosters learning and aligns with market needs before product development.

Having a clear purpose, mission, and values is essential for sustainable success, guiding team alignment and fostering a cohesive organizational culture.

Deep dives

Building a Community of Practice

Creating a community of practice is essential for organizations looking to foster learning and connection. This type of community involves individuals who share a common interest or goal, such as advancing skills in a specific field, and is particularly important for businesses that have yet to establish a product-market fit. Notable examples include HubSpot, which focuses on helping digital marketers, and Gainsight, which aims to elevate customer success professionals. Engaging in a community of practice not only enhances knowledge-sharing but also helps build a strong foundation for future business growth.

Prioritize Community of Practice Over Product

01:37

Build to Sustain, Not to Gain

01:08

Intro

2min

Building Meaningful Community Connections for Business Success

4min

Building a Purpose-Driven Business: The Importance of Values

2min

Understanding Purpose and Community in Business Success

2min

Finding Purpose and Passion in Business Building

2min

Aligning Passion with Purpose in Entrepreneurship

5min

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In this "Lessons" episode, we dive into the essentials of building a community with Lloyed Lobo, Co-Founder and President of Boast.ai. Lloyed shares valuable insights on choosing between a community of practice or a community of product, the importance of purpose-driven leadership, and practical strategies for creating impactful connections. Discover how understanding your audience and staying true to your mission can drive your business forward.

Building Effective Communities: Learn the difference between a community of practice and a community of product. Lloyed discusses why starting with a community of practice is crucial, especially for early-stage companies, and how it helps in aligning with market needs before shifting to a community of product.

Purpose, Mission, and Values: Lloyed emphasizes the importance of having a clear purpose, mission, and values. He shares how these elements guide behavior and decision-making, and why they are essential for long-term success and sustainability in building a meaningful community.

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