Podcast Summary: "Everything I Learned After 60 Days At Acquisition.com"
Podcast Information:
- Title: Business School with Sharran Srivatsaa
- Host: Sharran Srivatsaa
- Episode: Everything I Learned After 60 Days At Acquisition.com
- Release Date: July 29, 2025
In this engaging episode of Business School with Sharran Srivatsaa, hosts Sharon Trivata and Layla delve deep into their first 60 days at Acquisition.com, sharing invaluable insights on building a thriving business from the ground up. This detailed summary captures the essence of their discussions, highlighting key strategies, cultural philosophies, and operational tactics that have propelled their company's growth.
1. Introduction to the New Series
[00:00 - 01:05]
Sharon Trivata kicks off the episode by announcing a special series aimed at providing an unfiltered look into the daily operations of Acquisition.com. This series is designed to equip founders, operators, and underdogs with actionable lessons and strategies to build and grow their businesses with clarity and intention.
Notable Quote:
"Just because it's tried and true doesn't mean it's working right now. So the big question is this: Where can you learn what is working right now?"
— Sharon Trivata [00:00]
2. First 60 Days at Acquisition.com: Expectations vs. Reality
[01:05 - 02:23]
Layla begins by asking Sharon about her initial expectations versus the reality of her first 60 days at Acquisition.com. Sharon anticipated a bustling environment with packed calendars, which turned out to be accurate. However, she was pleasantly surprised by the balance of high competence and humility among team members, contrasting her previous experience at Goldman Sachs where high competence often coexisted with larger egos.
Notable Quote:
"I did not expect that the humility side of all the smart people was going to be here."
— Sharon Trivata [02:00]
3. Company Culture: Balancing Competence and Humility
[02:23 - 10:56]
Sharon discusses the rarity and importance of finding team members who are not only highly competent but also humble. She contrasts this with her experience at Goldman Sachs, where extreme competence often came with egotistical behavior. The hosts emphasize that fostering a culture where humility is valued alongside competence leads to a more collaborative and positive work environment.
Notable Quote:
"Finding a combination of extremely bright, competent, smart people, but also having a really tight kind of humility component to that, that is very rare."
— Sharon Trivata [02:23]
Layla shares her experiences with leaders who, despite their high performance, lacked humility and disrupted the team culture. She underscores the importance of hiring and firing strategically to maintain the desired company culture.
4. Hiring Strategies: The Mutual Interview Process
[06:20 - 12:35]
Sharon and Layla delve into their unique hiring approach, highlighting the importance of a mutual interview process where both the company and the candidate assess each other simultaneously. Sharon recounts interviewing a candidate who valued the culture of "sincere candor," a core aspect of their operational environment.
Notable Quote:
"The interview process is almost like the beginning of onboarding."
— Sharon Trivata [07:46]
They discuss the significance of detailed job descriptions that outline the pains and skills required, ensuring that candidates are well-aligned with the company's needs and culture.
Notable Quote:
"Take the 20 minutes to write crystal clear what you're thinking about."
— Sharon Trivata [13:14]
5. Implementing a Memo Culture: Enhancing Communication
[17:43 - 26:30]
A significant portion of the discussion centers around their implementation of a memo culture. Sharon and Layla explain how documenting ideas and project proposals in memos fosters clarity, reduces ambiguity, and enhances organizational IQ. Memos serve as artifacts that separate people from issues, allowing for objective discussions and decision-making.
Notable Quote:
"Memos are a one to two page breakdown of what is the big idea, why we're thinking about this problem, how we’re solving it, what the risks are, and what our recommendation is."
— Sharon Trivata [19:02]
Layla adds that memos help disarm emotional barriers in meetings, leading to more effective and focused discussions. They both agree that memos elevate the collective understanding and operational depth of the organization.
Notable Quote:
"Writing a memo is not work you have to do; it's like one of the greatest upgrades that operators can get."
— Sharon Trivata [22:33]
6. Operating Culture: Breaking Down Silos and Encouraging Collaboration
[31:20 - 37:44]
Sharon and Layla emphasize the importance of avoiding silos within the organization. They advocate for cross-functional collaboration, where team members are encouraged to work beyond their designated roles. This approach not only fosters a more inclusive culture but also enhances the company's adaptability and innovation.
Notable Quote:
"Stop calling them a VA. Just call them an operations manager. They're part of the culture."
— Layla [37:00]
Layla shares her experience integrating contractors into the company culture, ensuring they feel valued and part of the team despite their remote status. This inclusive approach has led to high performance and loyalty among contractors.
7. Setting Ambitious Goals: Embracing Unreasonableness
[43:03 - 50:50]
The hosts discuss the power of setting ambitious, seemingly unreasonable goals to drive faster progress and higher standards. They argue that traditional, reasonable time frames can limit potential and that embracing unreasonableness can lead to exceptional achievements.
Notable Quote:
"Give yourself permission to be a little bit unreasonable."
— Sharon Trivata [43:16]
Sharon encourages leaders to ask themselves, "What do you have to show for it?" at the end of each day to ensure productivity and prevent procrastination. This mindset shift helps prioritize impactful work over mere busyness.
8. Fostering Creativity: Rapid Action and Drafting
[50:06 - 54:25]
Sharon and Layla highlight the importance of rapid action in fostering creativity. They promote the concept of producing "super fast, shitty first drafts" to overcome perfectionism and maintain momentum. This approach encourages iterative improvement and continuous progress.
Notable Quote:
"Super fast, shitty first draft. Get your thoughts out as soon as possible."
— Sharon Trivata [47:57]
Layla shares her personal experience of writing a book by starting with a fast, unpolished draft, illustrating how this method leads to commitment and tangible progress.
9. Challenges and Rewards: Building Connections and Culture
[39:12 - 43:26]
Sharon reflects on the challenges and rewards of connecting with every team member during her initial weeks. By asking each person for advice, she not only built rapport but also gained valuable insights into the company's dynamics and areas for improvement. This proactive approach fostered trust and mutual respect within the team.
Notable Quote:
"What is the one piece of advice you have for me?"
— Sharon Trivata [39:17]
Layla emphasizes the importance of humility and a willingness to learn from every team member, reinforcing a culture of continuous improvement and collaboration.
10. Overcoming Hiring Fears: Embracing Mistakes as Learning Opportunities
[52:04 - 54:26]
The conversation concludes with advice on overcoming fears associated with hiring the wrong person. Sharon asserts that some mis-hires are inevitable, especially when hiring for the first time, but emphasizes that these experiences are valuable learning opportunities that ultimately lead to better hiring practices.
Notable Quote:
"You can't avoid hiring the wrong person if you've never hired before."
— Layla [52:04]
They encourage leaders to recognize the importance of building capacity and leveraging increased potential through effective delegation and strategic hiring.
Concluding Remarks: A Gift for Listeners
[54:26 - End]
Sharon wraps up the episode by sharing a special gift for listeners—a private podcast called 10K Wisdom. This exclusive content aims to deliver $10,000 worth of value in under 10 minutes, providing raw and actionable insights without the usual fluff.
Notable Quote:
"It's called 10K Wisdom. It’s raw, it’s real, and it’s straight to the point."
— Sharon Trivata [54:26]
Key Takeaways:
- Culture is Crucial: Balancing competence with humility fosters a positive and collaborative work environment.
- Effective Hiring Processes: Implementing mutual interviews and detailed job descriptions ensure better cultural and skill alignment.
- Memo Culture: Documenting ideas and proposals enhances clarity, reduces ambiguity, and elevates organizational intelligence.
- Break Down Silos: Encouraging cross-functional collaboration drives innovation and adaptability.
- Set Ambitious Goals: Embracing seemingly unreasonable targets can lead to significant achievements and higher standards.
- Foster Creativity: Rapid action and iterative drafting overcome perfectionism and maintain momentum.
- Build Strong Connections: Proactively connecting with team members builds trust and uncovers valuable insights.
- Embrace Hiring Mistakes: Viewing mis-hires as learning opportunities leads to more effective future hiring practices.
For more valuable insights and resources, visit Sharran.com.