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"ceo software company" Discussed on Important, Not Important

Important, Not Important

05:05 min | 1 year ago

"ceo software company" Discussed on Important, Not Important

"Things that his blown just about everybody ways that he and his wife have purchased twenty four thousand acres of the last best wild place on the California coast, saving it from developers, saving it from another Trump golf course in gifting it to the nature conservancy so that it can be preserved. Awesome. It's safe. MacOS of California somewhere down the coast to California sort of the central coast north of Santa Barbara. So people there want exception. Yeah, it's it's south of the Vandenberg Air Force base, and this story has made so many of us a given. So many of us hope not only did they preserve and protect this, and this is he's the CEO software company, but he is all in for into doing is he says, going big with this in protecting the planet, trying to reverse the loss of biodiversity doing his part before. It's too late in that has been such a boost to all of us in. It's certainly in the last six months. It is really giving me a shot in the arm glimmer of hope. I love it. That's excellent. You mentioned I think mountain mountain biking or bike riding, but what do you do when you feel overwhelmed? I assume maybe that, yeah, I love to get on the road bike or the mountain bike and just be away free on the bike. I don't like having a have a phone with me for safety, but people are getting into checking social media or doing stuff weather on rides or whether recreating I I'm not into that. They're doing a everything. Everything. I'll have a music, but that that's it. And there I love going to to the movies and just getting lost in the story. I love being outside with, but spending time with my puppy and I love building the Legos. Those are the, those are the main Dave. I definitely have somewhere in this office a box of the LEGO Saturn five that came out this year that I have not yet because my demands I let him do with. I'm trying to have one thing to myself. Awesome. Yeah, Don. How do you consume the news? Mainly through NPR. NPR's every morning. I listen to NPR imen-. I get a lot of news do a Twitter in a mainly from from the web. My mom watches a lot of CNN. So when I'm a sheet, I'm her primary caregiver now. So when I'm with her, she's got CNN on. So there's no escape there, but. I would say it'd be. NPR and sometimes I'm up in the wee hours of the night because I'm a night owl in the BBC news will come on and really let the the BBC in the other international outlets because you find out what's going on in the world besides what Trump has tweeted or besides what's going on with our dysfunctional government. In fact, it's really irking me right now that we're not hearing enough about the big Sioux NAMI in Indonesia. Everything is about the cabinet hearings. I'm having a hard time filtering properly to getting a proper perspective. There are other things happening in the world. It's John Lynch else happening, Brian. Ask your favorite question. Sure. Speaking of old Trumpy Don. If you could Amazon prime him one book, what would it be? Oh, wow. That is a good question. We've we've had the full run on recommendations and for clarification, what we did is we created a name is on wishlist of all the books. Our guests have recommended, and our listeners can do go there and click on the books, and it gets sent straight to the White House. So whatever you think anything, the first thing that comes to mind is the little prince. It's very, is very simple. It's got a beautiful story about friendship and kindness in. I think our president could use. I don't know whether anything can reach him. I really don't, but. That's that's the first thing that comes to my mind, but is one of my favorites. And I think that is like the third or that has. That's, yeah, back in my head. That's a good one. Don. This has been tremendous. Where can I listen follow you online? They can follow me on Twitter and Instagram and Facebook. My handles are all the same deep sea. Dawn, really embraced that nickname haunt. It just went just gave up and went for it, and it's got a minimum number of characters. So. There. It is. Yeah, nickname when I was in college, but I'm not gonna say what it was. That right now Brian's good..

NPR Twitter California Trump Don CNN Brian Vandenberg Air Force Santa Barbara nature conservancy BBC Indonesia CEO Amazon Dawn White House president
"ceo software company" Discussed on Entrepreneur Stories for Inspiration: Millionaire Interviews

Entrepreneur Stories for Inspiration: Millionaire Interviews

10:18 min | 2 years ago

"ceo software company" Discussed on Entrepreneur Stories for Inspiration: Millionaire Interviews

"Just help customers understand what they were doing with water. Water. Prices were rising. Customer started to wonder, you know, my really using three hundred dollars worth the water a month, and I thought it was only fair that we told them where they were using the water when why, and ethic that was hugely successful for buddy learning about, you know what pressures go much higher. And so over time, people are going to be more and more curious about their water use. And so this was obvious to me and my partner at the time. How long did it take you to create the wealthy? You're looking forward most McCreary has been about altruism by wanted to build what our utilities that that use less water and created both because I knew that I could attract capital that way. And if I could own a little piece of a much bigger company, then I could do well from my partners and ultimately will for myself and that's have to think about it, build a great company that has had competitive advantages raise money when you can and recognize you're going to get diluted a little bit and hopefully it into the base to own a piece company. But the voyage to creating a big company is I think done with a lot of clever people. It's not a one man show ever. It certainly is never been for me. I'm a great advocate of raising money with investors in when you make money that are rising tide rises all boats and fortunate enough to build several entities that I was able to own a little piece of a big pie at the end of the day, which is a lot better, I think than owning a huge piece of a little pie or maybe a one hundred percent of no pie. Investors can often be very helpful in many ways apart for money in because I have learned over my life time that it seems every year I feel like I know less than I did the prior year. I'm always grateful for the insight that investors bring. What has it prospered to today? Maybe we're for fast forward, nevertheless, ten years, every company growth? Yeah. Well, that so that company just to go quickly, that company took off. We went from zero to five hundred million dollar valuation over the period from three to seven, you're the fastest growing utility in the US had just perfect right area rate model, right investors. Great. And then the downturn came. I was in Phoenix, Arizona. We went from two hundred and fifty people back down to sixty, and that was another incredibly difficult lesson for us. I had a lot of debt then couple hundred million of data that point in here. I was again now eight years later, two thousand eight scrambling as I didn't nineteen ninety nine and two thousand figure out what to do next and ultimately was the lessons I've learned in two thousand allowed us to survive await. And ultimately we took that company public to de leverage the balance sheet. It just so happened that it was tractive from yield perspective in two thousand ten. And we've been, we took the company public raise seventy five billion dollars in two thousand ten to deliver the business. Again, that was very difficult area. And one of the things we did to improve our revenue during that period was to commercialize our back office all the work done in smart metering, and billing. And technology that we built. We thought, okay, now this will be useful to other municipalities. So we commercialize that backoffice. I mean, this is very scrappy days. The world was falling apart, and so we took the assets that we had and the team that we could preserve and we commercialize back offices, sold it to municipal as a way of bringing some efficiencies in condoms scale to are fragmented water sector in that business took off even in the downturn, and we were able to on the basis of now the two businesses, the utility business and the commercial business back office billing business. That was how we were able to take the business public in twenty ten. Did you always plan on taking it public? Wonder what the experience would be like comparatively to you? Haven't a private company the whole time? No, you know, in the thick people often think of being public as being an end state. Oh, I hear entrepreneur saying what one day I'll take public as being a finish line. Really. I did it as a way of raising capital at a fair. Evaluation to deliver my balance sheet, paths and debt. And what I learned to the processes who is first of all, it's very difficult thing to do for anyone's done that I found it to be very, very challenging. Probably the most Johnson thing I've ever done in my career, it's going public is like day one. It's the very first day as opposed to the last day you have to build a business, meet shareholders expectations. And again, it's not a good wealth creation strategy in many cases for the entrepreneur. Anyway, it's a very demanding job and a very ruthless fickle market in most cases. So I would public as a means of delivering the balance sheet. I wouldn't recommend it to be honest, unless you happen to be have a company that has a maze ING, sustainable competitive advantages. And here's the test. This is the very simple tasks made people ask me if I go public. Again, I say this, the only reason you go public is the entrepreneurs arrogant belief that they can create and maintain price tension in perpetuity. And so if. You think he can do that, then you should definitely be public and maybe Jeff Bezos system that like he's created more buyers and sellers for his stock forever. That's because it's very, very compelling business with very strong sustainable competitive advantages. And that's amazing. My hat's off to most of us can't do that. You can't create and maintain price tension in perpetuity. That means that no matter what there'll be more people wanting to buy your stock and sell it forever. And what I found was that you know, pretty average at this on some days, I was able to create more buyers and sellers, but another days I wasn't looking back blessed us with some cookie point, specially we're talking about your competitive advantage. I think that's been the main key that I've taken away from it. Is there anything else that you'd wanna leave entrepreneurs? You're thinking about starting their first company based on your experiences after going public? My stock actually went down very materially and ultimately had to sell off the technology business and to do that. I had to raise capital for it. And ultimately ended up going with the technology business and leaving the utilities, so I could get that accomplished. And then in the regulated utility, we introduced a dividend not fix the stock price, but I had to step down to do it turned out to be a very successful company that I historically owned a nice piece of, and then I became the CEO software companies the process and grown that business up into a nice size as well. And that's what I do today. I think most of it has been humbling. None of it has been easy bot if you remember these couple of things, sustainable competitive advantages as one wealth as critter equity and transactions don't be afraid to alter course and course correct. As you learn about the market, none of us can see perfectly what we can be is introspective about what's happening. You start to feel like your ground shifting beneath you. There's probably a reason and I my case what I was able to see was that I had, you know, I was wrong about something, but I put a. A million kilowatts of energy in two is not working. We had to change course quickly, and we've done that many, many, many times my partners and I, but never never be afraid, to course. Correct. And your investors will appreciate that as well. I think they know that you know the market better than anyone in. It's really that Jila d is critical. I think the other thing that's most important for me I learned probably late. Is that early as possible, get the best talent you possibly can. I finally figured this so to in global water and infathomable, which is the business I currently run a always went to try to get the very best people I could possibly find in the sector and convince them to join me, give them the opportunity to share in the upside, the something I believe very firmly, and there's lots of great people out there and you can't do it yourself. In fact, oftentimes they can do much better than you on the least valuable member of my offering team. I always like to think I really define my role now having. Been chairman CEO for thirty years. You'll only really have three roles, right? One is eventually is I've Angelides the mission and the cause of the business externally and internally what it is that we do and why we do it. And while we have a competitive advantage in the market and why we are feeding competition, evangelized number one recruit number to spend one third of my time talking to people and seeing if they'd be good fit for the business and tried to build the best possible management team on the planet so that we can create a sustainable competitive advantage in our people. And number three is a line, and that means make sure that everyone that is on the bus in the right seats, and everyone is rowing in the same direction. And that's a lot of time in efforts. And if everyone knows exactly what you're doing and why you're doing it, it sure helps on a day-to-day basis. So evangelize recruit in a line is what I do most. Now I found out that even though I did a lot of cr-. Crazy things like Bill financial models and did engineering turned away, wasn't very good at any of that compared to the young people who are today who are ten times better than I ever was and other not lesson late and you don't have to learn it early. A Segers job is to evangelize recruits in the line and very little else in my opinion. You know, will you preach it? You've taken us longer ride. Trevor has been quite inexperienced, I guess, all worldwide between going to Africa, Canada, southwest US. But if someone wanted to say thank you for doing the interview, I wanted to reach out what's the best way for them to reach out to you now? Sure. Anyone by all means, I'd be delighted to do that. Love that part. I feel like I learned the lesson the hardest conceivable ways if I can help so much better, make less mistakes if he delighted and they can Email me at Trevor dot hill, teary via war dot h. I l. at GW fathom dot com. So GW Gulf whiskey if he teach dot com at. Anytime I'll make sure I respond to all those Smith. There are any. All right. Well, thank you for doing interview. Trevor. Yeah, my pleasure. Hopefully that was some value to you. Thanks

partner US Trevor McCreary Phoenix Jeff Bezos Arizona Johnson chairman CEO Smith CEO Angelides Africa Canada seventy five billion dollars five hundred million dollar three hundred dollars