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After selling the company and managing a team of 13 employees, I faced challenges and doubts. People assumed it was the end, but my love for the project and determination to prove them wrong kept me going. We focused on proving ourselves rather than seeking external validation. It was a motivator to show that Instagram was just getting started, and the sale was not the end of our journey.
During the early days of Instagram, we faced rejection from investors and designers who didn't believe in the app. It was disheartening to hear people say it wouldn't work. However, we remained focused on our passion and belief in what we were building. We didn't let the doubts of others bring us down, and instead, we used it as fuel to keep pushing forward.
After selling Instagram, we faced challenges with people assuming the company was over and that there was nothing else to achieve. But we didn't let that deter us. We stayed focused on our goals and preserved a determination to prove them wrong. We recognized that external validation wasn't the most important thing, and our love for what we were doing kept us motivated to continue growing and improving.
Throughout the journey, we faced failures, rejections, and tough feedback. We learned the value of gathering feedback, even if it was challenging to hear, and used it to improve ourselves and our product. We sought out constructive criticism and encouraged honest feedback from others. This allowed us to identify any weaknesses and work on constantly improving our ideas and execution.
A key insight from the podcast is that hiring people who are smarter and more experienced than oneself can lead to creating the best possible team. The speaker emphasizes that by hiring individuals who excel in their field, the team's overall performance and effectiveness can be enhanced. While some may fear that these talented individuals might eventually replace them, the speaker argues that the focus should be on having job security and maintaining a vision that aligns with the team's direction. By effectively managing the vision and direction of the company and connecting it with the expertise of the team members, a strong and successful team can be built.
Another key point discussed in the podcast is the importance of efficient decision-making processes within a company. The speaker highlights how bottlenecks in decision-making can hinder progress and impact the overall productivity of the organization. To address this, the speaker shares an approach inspired by the book 'The Goal' that involves creating a system for making decisions in a timely manner. By listing out the inventory of decisions and then dedicating specific meetings to work through those decisions, the speaker explains how this systematization can help streamline the decision-making process and optimize overall productivity. The speaker also encourages entrepreneurs to apply principles from other domains, such as manufacturing, to improve decision-making in their own companies.
“I think a big part of knowing that you’re right is working as hard as you can to prove that you’re wrong. And if you can’t, well, there’s only one option left, which is: you’re probably right.” — Kevin Systrom
Kevin Systrom (@kevin) is an entrepreneur and the co-founder (with Mike Krieger) of Instagram. While at Instagram, Kevin served as the CEO, where he oversaw the company’s vision and strategy and daily operations. Under his leadership, Instagram grew to over one billion users and launched dozens of products including video, live, direct messaging, creative tools, Stories, and IGTV.
The company also grew to over 800 employees with a campus in Menlo Park, new offices in New York City, and a new headquarters in San Francisco.
Prior to founding Instagram, Kevin graduated from Stanford University with a BS in management science and engineering. Kevin currently lives in San Francisco with his wife and daughter.
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For show notes and past guests, please visit tim.blog/podcast.
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For transcripts of episodes, go to tim.blog/transcripts.
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Discover Tim’s books: tim.blog/books.
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Past guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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