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And welcome everybody to another
episode of smart money circle 

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with me. 
Today is Rusty Wiley, who's 

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President and chief executive 
officer at data site. 

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Rossi's a very special guest. 
I'm very interested in looking 

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forward to today's call of 
today's conversation. 

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Without further Ado, Rusty. 
Welcome to the show. 

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All right, Adam. 
Thank you. 

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It's great to be on the show. 
I always like to ask for us to. 

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Can You Begin by telling us a 
little about yourself and the 

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company? 
Yeah, those little old me and 

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more about my favorite topic, 
which would be the company. 

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So, I did it. 
They decide about Years now is 

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CEO prior to that. 
I spent most of my professional 

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career at IBM molding jobs, 
running the Consulting business 

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for financial services. 
And then later out of China 

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running the global banking and 
capital markets business for for

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IBM and I was looking to make a 
change to a better climate 

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having lived in the Northeast 
for most of my career. 

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And so, I took over a company 
based in Minneapolis, Minnesota.

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So anyway, yeah, eight years 
ago. 

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I joined a dating site. 
It's been a great ride and you 

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can imagine the job. 
I did selling that on the home 

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front where we're not moving to 
the southeast, where she's going

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to move to Minnesota co-ed. 
There's two seasons in Florida. 

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I always joke around where I 
live. 

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There's hot and there's hotter 
and Minnesota. 

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You've got cold and colder with 
his Holdings, some nice color. 

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I think one of my person taser 
was minus 20 degrees and that's 

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the ambient not. 
So yeah, ouch. 

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So the company tell us a little 
about dataset if you don't want 

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to know. 
So they decide is Really a 

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leader, in SAS technology in the
MMA world. 

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We do we provide for 
professionals, like, bankers, 

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lawyers, accountants corporates,
Corp, Dev the tools, and the 

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technology platform that in a to
enable them to do deals. 

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So if you think about it, you 
know, typically there are about 

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forty five to fifty thousand 
deals that are announced 

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publicly as transactions. 
There's a much broader Universe 

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of deals that we know our 
private non-public deals, but we

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do about last year. 
We did. 13,000 deals. 

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So we are a substantial portion 
of the volume of the overall 

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deal market. 
And what kind of makes us unique

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is we're there when the deals 
are happening. 

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So you will use the data site 
platform at the moment. 

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You begin thinking about an 
organizing and working with your

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Banker or given the Mandate of 
doing a deal. 

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You start on beta site. 
So we're right there at the 

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beginning of deal. 
So we kind of have, you know, 

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sort of a 6 to 9 month view of 
what's happening in the markets 

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in terms of You know, deal flow 
across different Industries. 

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Interesting. 
So what do you see now? 

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Very strong, very strong, local 
markets. 

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I mean, we looked on fact, I 
took another glance that last 

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year this morning before you and
I chatted and the deal volume 

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was up over 30 percent last 
year, the momentum continues. 

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Miss really, you know, I will 
state things that are pretty, 

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pretty obvious to people who are
in the business, but you know, 

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rates on on on money or still 
artificially low versus history,

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so, The cost of capital is very 
cheap. 

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There's abundance of deals to be
done and there's lots of cash, 

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effectively, chasing and trying 
to be put the work, you know. 

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Looking for you'll be on what 
you see today in fixed income. 

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So we see that the Old Market or
I just being a continuing strong

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force in terms of the economics 
of the US and globally. 

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In fact, interesting. 
So let's talk about data set 

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again just to make sure we 
understand properly what you're 

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saying. 
So let's say I work at a private

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Equity shop and I'm looking to 
buy a company. 

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Yes, let you do both public and 
private deals. 

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Is that correct? 
So it doesn't matter. 

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The size. 
Is there a size capacity and you

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size capacity, but typically 
will see deals that have 

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something like a hundred million
dollars in economic value of up.

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Okay. 
Typically The Sweet Spot for the

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deals that we do and with what 
do we do last year globally? 

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Five, trillion and Deals. 
So there's a high volume of 

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deals that meet that threshold 
understood. 

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So then some I have a deal. 
I want to find a company, I find

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company a, I want to buy it. 
So I'm going to go on data site,

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start one side. 
Identify the company that is go 

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on data site. 
And then basically can you walk 

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us through the Journey that, you
know, me and let me flip it if I

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can't because it might be easier
to follow it, sort of from a 

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seller's point of view. 
So let's go from the standpoint 

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of I'm now company. 
I may be a private Equity owned.

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I could be a strategic asset in 
a company. 

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I want to effectively sell that 
asset. 

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So how that would work is you 
would reach out to likely a 

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banker to execute the sell side 
of the transaction. 

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And, and when that begins in 
typically, Even before that, you

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would engage data site and you'd
stand up at data site project as

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we call because some of these, 
you know, some of the prep work 

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and content for doing a deal 
particularly now with things 

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like ESG in covid, the amount of
content you have to organize to 

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sell a company or sell an asset 
is pretty significant, right? 

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You would work with data site 
immediately. 

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We have a product called Data 
site prepare and what prepare is

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is an advanced AI based tool 
that, you know, to make it 

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simple. 
Can read thousands of documents 

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and S, tell you what those 
documents are, tell you, how you

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should organize them, and put 
them in an index that you'll 

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ultimately use for sharing the 
content about that company. 

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Right? 
So, you've now used a, I prepare

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you've now organize, what could 
be thousands of documents in 

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this company that you want to 
sell? 

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Then the next stage is 
typically, you want to reach out

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to potential buyers, right? 
So we create a product. 

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I'm sorry. 
This feels very product Centric 

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but it helps me walk through 
kind of will go for it. 

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Yeah, this is very helpful. 
Paul datacite Outreach. 

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That we launched last year, one 
of the three products we last 

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launch during the pandemic here 
that allows you to reach out to.

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It could be a dozen buyers. 
It could be 500 potential buyers

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and they could be private Equity
buyers, you know, they could be 

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corporate buyers. 
So is 60 is how you make that 

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initial reach out and you share 
a teaser about your company, 

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right? 
And you figure out who's 

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interested in seeing more about 
the company. 

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And we use the Outreach product 
to walk through every stage of 

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that, from sending a teaser to 
getting the Nda's and placed 

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actually sharing the SIM for the
company, which is the more room 

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more robust content, all the way
through managing to getting to 

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the bids for the company and in 
supporting that is the data site

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diligence product. 
And what diligence is it is the 

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you know highly secure platform 
that you can control access for,

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you know, dozens or hundreds of 
users to that since the content 

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that's part of the deal, part of
the company you're selling. 

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So financial information, kpis 
HR information. 

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Interaction, information, all of
that, that you need to be able 

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to do diligence on gets done on 
our platform. 

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And that platform, you can read 
that content as an example 

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because you might not want 
certain content to be available 

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to certain people that are 
accessing information. 

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Your company. 
We have an advanced q. 

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A capability that allows you to 
do streams of Q&A with the 

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participants in the process. 
So now I can flip it to be the 

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buyer. 
We have a product called a choir

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of the Mary's and works will 
with diligence. 

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And that is the buyers version 
so that private Equity Firm 

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wants to go through and I'll 
have, you know, happened isn't 

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it doesn't work streams from 
Financial, diligence to ESG, 

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diligence to, you know, HR 
diligence to Legal diligence to 

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all the things you have to go 
through to figure out what you 

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think. 
The right value is for the 

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company right in today post 
covid. 

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There's also an enormous amount 
of energy being trying to 

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assess. 
What is the post transaction 

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value because covid material, 
Executive eyes of companies, 

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particularly companies that are 
tied to supply chains, without 

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going deeply into that. 
And he is Gee presents 

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opportunities in risk for 
companies that don't have really

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tight ESG programs within an 
Enterprise, or might have 

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climate exposure. 
Right? 

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So those data rooms as we call 
them, are expansive. 

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And that diligence work is 
pretty detailed. 

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So, acquire allows you to work, 
all of us dreams allows you to 

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do Q&A and in the ultimately get
to the point where we're ready 

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to close on the transaction. 
And we support that as well when

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you're going through. 
So it is, it's an in Deal 

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platform that you can bring in 
buyers. 

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You can bring in sellers. 
You can bring an advisors, from 

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the very beginning, all the way 
through closing. 

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The transaction is what we think
of when we talk about the data 

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side platform. 
Well, I love that. 

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Thank you explanation. 
I have a lot of a large audience

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of private Equity investors that
have been on the show, but also 

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listen to the show and I've been
involved with private deals. 

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Before with the MMA space. 
This is a place that's close to 

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my heart because I have actual 
experience in it. 

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I'm always, you know, Looking 
for New Deals and I just, it's 

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part of my world. 
So I love that. 

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What are the some of the big 
things Rusty? 

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You see with respect that are 
all registered impacting the m&a

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market. 
Yeah, I think a couple things, 

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one of them is adoption 
technology. 

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One of these we saw because we 
like a lot of companies went 

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from and, you know, a thousand 
people in our officers to 

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everybody being a remote, no 
matter of 30 days and warnings. 

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We saw at the, of the arms and 
the pandemic that is persisted 

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through. 
The pandemic is a different work

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style, right? 
A lot less travel as an example,

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a lot. 
A lot of what we're doing today,

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which is video conversations 
versus in-person conversations, 

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but beneath that we seen 
adoption of new technologies 

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occur, much more rapidly than we
would have seen in the past. 

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So, I talked about the product 
prepare that we launched right 

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around the pandemic. 
Beginning. 

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We were, we were, we were on 
those rare companies and 

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innovated launched, three 
points, three new products in 

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the middle of a pandemic and 
changing Brandon a decide, 

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right? 
We want some products like 

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prepare like Outreach like a 
choir that you Tag use AI to 

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really automate if you will and 
speed the process of doing deals

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run. 
So just a data point. 

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I went to look today of the 
13,000 deals. 

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We did last year, 4,500 of those
deals are now using new 

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Automation and AI technology to 
do deals. 

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And that was 0 the year before, 
so fully more than a third of 

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the deals are now using advanced
technology. 

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I think the other thing that 
we're seeing which is which is 

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really interesting to watch, is 
we track the duration of A deal,

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right. 
So from the time, you open our 

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project and they decide to the 
point where you close the 

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project beta site, and for, I 
don't know for seven years 

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that's been about 10 to 11 
months, 10 and a half to 11 

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months, and it stayed pretty 
consistent. 

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So, with the new work change in 
terms of remote work, 

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accompanied by some of the 
advanced technology. 

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We've talked about today in 
terms of facilitating getting 

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deals done faster, right? 
You're seeing Mills go now to 

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nine nine and a half months, so 
10 to 15% reduction. 

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In the cycle, time of what it 
takes to get a deal done. 

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Now, you can say there's the 
abundance of cash and cheap, you

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know, she lending effects that 
which is true, but as evidenced 

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by the percentage of deals using
AI Tech today to speak deals. 

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We think that's a fundamental 
change. 

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In the weight deals are getting 
done allowing firms to do more 

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deals right than they could 
previously do before. 

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And with a lot of constraints in
terms of ability to add head 

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count in the deal-making 
community. 

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It's a real place to be able to 
work deals more. 

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Rapidly with more automation. 
So it's kind of burst. 

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I think the other is frankly, 
you know Adam the the data rooms

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are getting very very large. 
Yeah, it's we've seen the 

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average deal size now. 
Going up for multiple years in a

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row at twenty to thirty percent 
a year. 

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In terms of the size of the data
rows, some of that you can 

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attribute to just more 
sophisticated diligence, right? 

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People can smarter. 
They're better at doing 

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diligence. 
Some of the new tools, create 

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more contents of I've got 
redacted versions versus not 

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redacted. 
Asians, they get bigger, but a 

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big chunk of it is just the, the
new, the new categories of ESG 

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as well as what we see in terms 
of a broader post covid, 

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diligence and Public's, right. 
So we did a survey of foreign 

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deal professionals. 
You have a copy of that you have

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the data and I'm not going to 
quote a whole bunch of 

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percentages in that but what I 
was really interested me want to

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write it that about two-thirds 
of the 400 dealmakers said that 

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ESG could be one of the biggest 
deal Killers. 

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Oh wow. 
In the marketplace, right? 

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And they included in that, by 
the way, like you would think 

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the impacts of things like 
climate change on the supply 

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chains, but it's also things 
about social graph, social and 

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governance, that impact the 
value of companies post 

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transaction. 
So what we're seeing is, you 

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know, those items continue to 
increase the size and complexity

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of data rooms. 
Because when you get to the, as 

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we sit earlier to the close the 
transaction, you want, some 

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Surety in terms of what that 
three or five your model looks 

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like as an investor. 
Make sure you're not going to 

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have a surprise on the downside 
with what you've chosen, you 

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know, to pursue require. 
So I think Automation and Ai and

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I think the size of the rooms 
and the quality of diligence or 

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things that I'm seeing to be the
most most different over the 

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course of the last two years. 
Well, I love that and it kind of

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fits perfect segue to my next 
question. 

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I was gonna ask you what role 
does ESG play in the MAA space. 

259
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Yeah. 
It's interesting because I know 

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and again, quotes in this will 
tell you that about 95% of those

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surveyed said it's moved to the 
top. 

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The priority list in terms of 
how companies prepare for the 

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sale and obviously the diligent.
So it's gone from something that

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you would say. 
Certainly corporate governance 

265
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has been part of doing diligence
for quite awhile. 

266
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Right? 
If you don't have good corporate

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governance and Good Financial 
governance, you know, you're 

268
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going to struggle to be able to 
transact with a buyer or even to

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due diligence with multiple 
buyers. 

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So that's always been. 
It's been strengthened has been 

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automated, but really I think 
what is, what is very new is 

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companies have prioritized. 
To the top of the list that we 

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have, not only to give lip 
service to BSG, but it's got to 

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be real, you have to have 
leadership. 

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You have to have real programs. 
You have to have real kpis. 

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You have to be able to produce 
the content rapidly that 

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mitigates what a buyer might see
in terms of the risk of buying 

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your asset. 
Right? 

279
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So all of that is very, very new
and it's not just limited to 

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climate change. 
Its climate change is also the 

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full full social and governance 
aspects of the issue as well. 

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Interesting. 
So there's a CEO by the way, 

283
00:14:07,900 --> 00:14:10,200
yeah. 
In the middle of it, you know, 

284
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in terms of having leadership 
and data site in terms of 

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building in our programs. 
I mean, our footprint from a 

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carbon perspective is fairly 
small because we're a tech 

287
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company. 
Yeah, right, but ESG is 

288
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certainly not limited to that. 
So it's at the Forefront of what

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we do with our owners today as 
well. 

290
00:14:22,800 --> 00:14:27,000
And in fact, if you look at my 
monthly CEO top sheet that you 

291
00:14:27,000 --> 00:14:30,600
can either celebrate or you get,
you get inspected every month. 

292
00:14:31,000 --> 00:14:33,200
Mine. 
One of our core components of 

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that is ESG for the company. 
Got it. 

294
00:14:35,700 --> 00:14:37,300
I love that. 
So, okay. 

295
00:14:37,300 --> 00:14:39,600
Rusty few things, you brought up
a lot of really Good points 

296
00:14:39,600 --> 00:14:41,600
here. 
So somebody's into the MAA space

297
00:14:41,600 --> 00:14:43,400
whether they're new or they're 
seasoned or their professional. 

298
00:14:43,400 --> 00:14:45,100
They can use data site from A to
Z. 

299
00:14:45,300 --> 00:14:48,600
It's a fantastic SAS based tool 
which is fantastic. 

300
00:14:48,700 --> 00:14:50,500
Let's talk about some of the 
mistakes. 

301
00:14:50,500 --> 00:14:53,900
You see people make with respect
to buyers buying, excuse me, 

302
00:14:53,900 --> 00:14:56,900
Acquisitions, and mergers, and 
how do you avoid them? 

303
00:14:57,600 --> 00:15:02,500
Yeah, I think probably the 
greatest mistake that we see in 

304
00:15:02,500 --> 00:15:05,600
some of it is created by the 
energy in the market right now 

305
00:15:05,600 --> 00:15:08,000
and the active pursuit of 
assets. 

306
00:15:08,000 --> 00:15:10,500
So everybody right now, we'll 
You most companies will tell you

307
00:15:10,500 --> 00:15:14,000
if they're at or near a point in
their cycle with their owners of

308
00:15:14,000 --> 00:15:15,800
doing a transaction. 
They're trying to get the 

309
00:15:15,800 --> 00:15:17,600
market. 
I mean, it's pretty 

310
00:15:17,600 --> 00:15:20,600
straightforward with the amount 
of cash pursuing assets and 

311
00:15:20,600 --> 00:15:24,500
artificially low interest rates.
It is a really fertile time to 

312
00:15:24,500 --> 00:15:27,400
do deals. 
Having said that what we see 

313
00:15:27,500 --> 00:15:31,400
tends to be hate to use the word
Rush. 

314
00:15:31,400 --> 00:15:35,100
Adam, put the level of 
preparedness, even before you 

315
00:15:35,100 --> 00:15:38,200
engage the sell-side banker with
a mandate in terms of your 

316
00:15:38,200 --> 00:15:40,500
content. 
It's sometimes not robust 

317
00:15:40,500 --> 00:15:42,000
enough. 
Sometimes you haven't gotten the

318
00:15:42,000 --> 00:15:44,000
financial content is organized 
as it should be. 

319
00:15:44,200 --> 00:15:47,900
Sometimes your kpis and the 
duration of kpis you track is 

320
00:15:47,900 --> 00:15:50,000
not sufficient for going through
sale process. 

321
00:15:50,000 --> 00:15:52,900
We commented earlier about some 
time your kind of flat on your 

322
00:15:52,900 --> 00:15:54,800
feet other than a couple of 
PowerPoint chart. 

323
00:15:54,800 --> 00:16:00,400
Somebody s g. 
So it it really is you know, it 

324
00:16:00,400 --> 00:16:04,100
really is getting ready before 
you launch your deal and and the

325
00:16:04,108 --> 00:16:07,200
sell-side bankers and advisers 
are tremendous and helping you 

326
00:16:07,200 --> 00:16:10,000
do that, but the prep work 
before you get That Banker is 

327
00:16:10,000 --> 00:16:12,500
super important. 
I think the other is 

328
00:16:12,500 --> 00:16:16,700
inefficiency in deal-making, and
I break that into kind of two 

329
00:16:16,700 --> 00:16:20,700
categories. 
I break it into one of companies

330
00:16:20,700 --> 00:16:23,100
are pretty busy. 
Not, many of us have a lot of 

331
00:16:23,100 --> 00:16:25,900
Cycles lying around that we just
are looking to apply. 

332
00:16:26,500 --> 00:16:29,400
And a lot of times if you're not
really smart about the 

333
00:16:29,400 --> 00:16:31,400
targeting, I talked about our 
Outreach product. 

334
00:16:31,400 --> 00:16:34,800
One of the things, an Outreach 
that our users can do is kind of

335
00:16:34,808 --> 00:16:37,500
get better Insight in terms of 
what buyers might be the best 

336
00:16:37,500 --> 00:16:39,600
buyers for a particular asset. 
All right. 

337
00:16:39,600 --> 00:16:41,500
What are they looking for? 
What are they interested in 

338
00:16:41,500 --> 00:16:43,700
Based on data? 
So I think one of the things 

339
00:16:43,700 --> 00:16:47,500
that is is not sometimes great. 
Is that the inefficiency of 

340
00:16:47,508 --> 00:16:50,400
reaching out the buyers who are 
not the right buyers or don't 

341
00:16:50,400 --> 00:16:52,900
intend to transact, because 
every one of those buyers you 

342
00:16:52,900 --> 00:16:55,500
engage with, take cycle from the
leadership and from the 

343
00:16:55,500 --> 00:16:56,600
functional leaders of a 
business. 

344
00:16:56,600 --> 00:17:00,200
So there's just inefficiency 
there in terms of how you spend 

345
00:17:00,200 --> 00:17:03,300
time with buyers. 
And then I think you know 

346
00:17:03,400 --> 00:17:05,099
absolute the right technology 
things. 

347
00:17:05,099 --> 00:17:08,800
I talked about like you a things
like, you know, redaction things

348
00:17:08,800 --> 00:17:12,200
in the Platform that really 
allow you to speed. 

349
00:17:12,200 --> 00:17:16,099
Answers to questions, right, 
buyers? 

350
00:17:16,099 --> 00:17:17,700
Doing diligence. 
Right, right. 

351
00:17:18,200 --> 00:17:22,000
Shorten the cycle time. 
So, what I see is there are a 

352
00:17:22,000 --> 00:17:26,700
lot of this is a, this is a 
fully employed for data site at 

353
00:17:26,700 --> 00:17:28,200
about. 
There are a lot of platforms 

354
00:17:28,200 --> 00:17:31,200
that don't have a level of 
sophistication to conduct rapid 

355
00:17:31,200 --> 00:17:33,700
diligence with a lot of buyers. 
Boosted. 

356
00:17:33,900 --> 00:17:36,400
What's the topic? 
Yeah, that's that's tragic. 

357
00:17:36,700 --> 00:17:39,000
It is all of those things, you 
know, being prepared. 

358
00:17:39,100 --> 00:17:42,100
Where'd you know, ahead of 
engaging, you know, getting to 

359
00:17:42,100 --> 00:17:44,900
the right buyers and then having
a platform that allows you to 

360
00:17:44,900 --> 00:17:48,100
rapidly due diligence and that 
by the way, is a seller of an 

361
00:17:48,100 --> 00:17:49,900
asset. 
And to my point earlier in the 

362
00:17:49,900 --> 00:17:51,500
choirs. 
That is a buyer of an asset. 

363
00:17:51,500 --> 00:17:54,200
Right? 
Those are things I see, you 

364
00:17:54,200 --> 00:17:57,900
know, tend to delay deals. 
And again, I hate to make the 

365
00:17:57,900 --> 00:18:01,900
point again, but ESG is clearly 
one that of late has certain 

366
00:18:02,100 --> 00:18:05,500
that I know of some specific 
examples where it was sort of a 

367
00:18:05,500 --> 00:18:08,100
lightweight PowerPoint and the 
buyers are looking for a lot 

368
00:18:08,100 --> 00:18:10,600
more depth. 
And I've seen that since I get 

369
00:18:10,600 --> 00:18:12,000
pitched a lot. 
So, I've seen that too. 

370
00:18:12,000 --> 00:18:14,400
It's like what do you think is 
the way the deal, right? 

371
00:18:15,900 --> 00:18:16,900
Yeah. 
Okay. 

372
00:18:16,900 --> 00:18:18,200
So on the other side, those are 
mistakes. 

373
00:18:18,200 --> 00:18:19,400
What about some Timeless 
lessons? 

374
00:18:19,400 --> 00:18:20,900
You've learned along the way 
that you'd like to share with 

375
00:18:20,900 --> 00:18:23,600
the audience. 
Yeah, I mean specific to 

376
00:18:23,600 --> 00:18:27,100
deal-making or two companies and
wherever you want to go with the

377
00:18:27,108 --> 00:18:32,500
rusty, could be all over the 
board person in a deal, making a

378
00:18:32,508 --> 00:18:35,500
dating site, you know, we could 
spend the afternoon this, but we

379
00:18:35,500 --> 00:18:39,600
want, I would say really in 
terms of the And I said, I came 

380
00:18:39,600 --> 00:18:42,800
here eight years ago, great 
passion for what we did, and 

381
00:18:42,800 --> 00:18:47,200
what we were able to create. 
And I think the view of data 

382
00:18:47,200 --> 00:18:50,000
site is it's really gets simple 
and everybody's got, you know, 

383
00:18:50,000 --> 00:18:52,200
ideas about how to companies 
perform. 

384
00:18:52,200 --> 00:18:55,200
Well what makes company 
successful and it's actually not

385
00:18:55,200 --> 00:18:57,700
that not that complicated it's 
hard to do but not that 

386
00:18:57,700 --> 00:19:00,600
complicated described and I 
think thatís itís really through

387
00:19:00,600 --> 00:19:04,200
things one is we every day get 
up thinking about how to be 

388
00:19:04,200 --> 00:19:07,600
essential to clients, right? 
If you begin with and if you 

389
00:19:07,600 --> 00:19:11,200
look at the way we do, Thing we 
do from our customer service 

390
00:19:11,200 --> 00:19:13,900
experience, which we have 
record. 

391
00:19:13,900 --> 00:19:16,300
Net promoter scores. 
I'm not promoter scores are 76 

392
00:19:16,300 --> 00:19:19,300
at the Give an example. 
Now what our services team does,

393
00:19:19,900 --> 00:19:22,600
but if you get up every day and 
you organize the company around,

394
00:19:22,600 --> 00:19:25,000
being essential to clients, what
do you do for that client? 

395
00:19:25,000 --> 00:19:27,700
That allows them to be more 
productive more effective right 

396
00:19:27,800 --> 00:19:30,800
in our case to do more deals to 
do, more deals rapidly to do 

397
00:19:30,800 --> 00:19:34,000
better deals, right? 
You can Orient the company in a 

398
00:19:34,000 --> 00:19:35,700
way that it energizes the 
company. 

399
00:19:35,700 --> 00:19:39,000
So you begin there and the 
second is so straightforward and

400
00:19:39,100 --> 00:19:42,000
So hard right now, by the way, 
which is having the best 

401
00:19:42,000 --> 00:19:43,900
smartest, put engaged, 
employees. 

402
00:19:43,900 --> 00:19:46,900
You have to have employees that 
are passionate about what they 

403
00:19:46,900 --> 00:19:51,300
do in a dating site, you know, 
every quarter we survey, we do a

404
00:19:51,300 --> 00:19:52,700
net promoter, score for 
employees. 

405
00:19:52,700 --> 00:19:56,000
We call it an NPS, very simple, 
you know, would you recommend 

406
00:19:56,000 --> 00:19:58,300
the company you work for to your
friends, your colleagues, your 

407
00:19:58,300 --> 00:20:00,400
family, we even put family in 
there as part of the 

408
00:20:00,400 --> 00:20:03,900
conversation and we get 
consistently above 80 on that. 

409
00:20:03,900 --> 00:20:06,300
We says our employees like the 
company, right? 

410
00:20:06,300 --> 00:20:09,500
They are passionate about what 
they do then accompany to Or 

411
00:20:09,500 --> 00:20:12,700
they would recommend it. 
And then, the last bit is boy, 

412
00:20:13,200 --> 00:20:17,100
even the context of the pandemic
and working remotely and 

413
00:20:17,100 --> 00:20:19,300
building, new communication 
structures and new ways to 

414
00:20:19,300 --> 00:20:22,100
energize and collaborate. 
It better innovate. 

415
00:20:22,200 --> 00:20:25,200
Well, you better find a way to 
produce new functions, new 

416
00:20:25,200 --> 00:20:29,100
products rapidly, or you will 
fall behind in your comment 

417
00:20:29,100 --> 00:20:33,000
earlier, you know, we put three 
groundbreaking technology 

418
00:20:33,100 --> 00:20:35,100
products out in the middle of a 
pandemic. 

419
00:20:35,100 --> 00:20:37,800
You could argue that might not 
be the best time to do it, but 

420
00:20:38,300 --> 00:20:40,100
that's the cold. 
Oh sure of the company because 

421
00:20:40,100 --> 00:20:42,500
we knew, by the way, during the 
pandemic, some things. 

422
00:20:42,500 --> 00:20:45,400
We were working on around 
automating, organizing content 

423
00:20:45,400 --> 00:20:47,000
automating, reaching out to 
buyers. 

424
00:20:47,000 --> 00:20:49,400
That weren't going to physically
be in a room, right? 

425
00:20:49,600 --> 00:20:51,000
Who's thing. 
You're going to become really 

426
00:20:51,000 --> 00:20:54,600
important essential to Applause.
So innovating, you know, just 

427
00:20:54,600 --> 00:20:57,100
makes it go. 
And I think the last bit is 

428
00:20:58,400 --> 00:21:01,100
grow, you know, don't work for a
company, doesn't grow if you're 

429
00:21:01,108 --> 00:21:03,000
in a company. 
And I worked in one for a decade

430
00:21:03,000 --> 00:21:07,600
that didn't grow. 
It's not your jaws and it's not 

431
00:21:07,600 --> 00:21:10,000
fun, right? 
So make sure Are you grow? 

432
00:21:10,300 --> 00:21:14,700
And keep a sense of humor? 
I told a story to my team and 

433
00:21:14,700 --> 00:21:18,200
it's it's a quick one. 
So early in my career kind of my

434
00:21:18,200 --> 00:21:20,600
first promotion at IBM. 
I went to work for a lady who is

435
00:21:20,608 --> 00:21:24,400
a phenomenal executive and I you
know, so excited. 

436
00:21:24,400 --> 00:21:27,000
I've gotten this new job. 
I was running a business inside 

437
00:21:27,000 --> 00:21:30,200
of IBM and sales organization 
and I came in for my 6 month for

438
00:21:30,200 --> 00:21:32,200
you. 
And I'm going in going, you 

439
00:21:32,200 --> 00:21:34,300
know, I think great write-up 
doing all the right stuff. 

440
00:21:34,300 --> 00:21:38,500
I'm checking all the boxes and 
she said, how see she said? 

441
00:21:38,500 --> 00:21:41,900
What happened? 
And to you and I was like, this 

442
00:21:41,900 --> 00:21:45,000
is not what I thought I was 
going to be. - are you telling 

443
00:21:45,000 --> 00:21:46,800
me that I was really good at 
what I was doing? 

444
00:21:47,600 --> 00:21:50,900
And she said, you know, you're 
doing good stuff. 

445
00:21:50,900 --> 00:21:53,400
You're doing the right stuff. 
Where's your sense of humor? 

446
00:21:53,900 --> 00:21:55,500
We have promoted. 
You was because I knew you could

447
00:21:55,500 --> 00:21:58,900
do the work, right but you gotta
maintain a sense of energy and 

448
00:21:58,900 --> 00:22:01,300
sense of humor. 
For the people that you lead me 

449
00:22:01,300 --> 00:22:03,600
people, you work with because 
some of these days get kind of 

450
00:22:03,600 --> 00:22:05,900
long. 
So the lesson I learned there is

451
00:22:05,900 --> 00:22:08,900
an addition to, you know, 
essential in The Talented. 

452
00:22:09,100 --> 00:22:10,800
Being engaged and also being 
Innovative. 

453
00:22:10,800 --> 00:22:13,300
And in terms of a company is 
man, you got to figure out. 

454
00:22:13,300 --> 00:22:15,500
F fun stuff hundred percent. 
Yeah. 

455
00:22:16,400 --> 00:22:17,700
I think those would be the 
things I would say. 

456
00:22:17,700 --> 00:22:21,900
Because at this point, we all 
know employees are choosing 

457
00:22:21,900 --> 00:22:23,900
where they want to go work in 
this industry today. 

458
00:22:23,900 --> 00:22:24,600
Right? 
Right. 

459
00:22:24,700 --> 00:22:26,200
And they have an abundance of 
choices. 

460
00:22:26,800 --> 00:22:29,500
We have to be that best choice. 
If we want to continue to do 

461
00:22:29,500 --> 00:22:31,400
what we do for our clients. 
Yeah. 

462
00:22:31,400 --> 00:22:32,700
I couldn't agree with you more 
Rusty. 

463
00:22:32,700 --> 00:22:34,600
I love that. 
Having fun is so critical to 

464
00:22:34,600 --> 00:22:36,000
everything. 
I do my life. 

465
00:22:36,000 --> 00:22:37,800
It's even with the kids or 
whatever it is. 

466
00:22:37,800 --> 00:22:40,200
That's what the wife with. 
Everything is just enjoy, just 

467
00:22:40,200 --> 00:22:42,200
relax. 
Take a breath, you know, and 

468
00:22:42,200 --> 00:22:44,100
enjoy it. 
I love it. 

469
00:22:44,100 --> 00:22:46,200
Okay, so that those are the 
mistakes. 

470
00:22:46,200 --> 00:22:48,500
Those are the lessons. 
Let's talk about some advice. 

471
00:22:48,500 --> 00:22:51,400
What's the best piece of advice?
You can go back to your 30 year 

472
00:22:51,400 --> 00:22:53,100
old suffer? 
You know, that you'd like to 

473
00:22:53,108 --> 00:22:56,700
share with the audience from a 
business standpoint or personal 

474
00:22:56,700 --> 00:22:58,200
standpoint of both doesn't 
matter. 

475
00:22:58,600 --> 00:23:01,100
I mean, I mean the personal 
standpoint is I'll say what 

476
00:23:01,100 --> 00:23:04,700
everybody who would everybody 
says, which is figure out a 

477
00:23:04,708 --> 00:23:06,200
strike, a balance in, 
everybody's got different 

478
00:23:06,200 --> 00:23:10,200
bounce, some might argue that 
Pandemic has created a new 

479
00:23:10,200 --> 00:23:12,200
balance and how much time they 
spend with their family and 

480
00:23:12,200 --> 00:23:14,900
their kids and maybe they're 
looking to to switch that a 

481
00:23:14,908 --> 00:23:18,400
little bit as we now come out of
the out of the pandemic and move

482
00:23:18,400 --> 00:23:21,400
into the endemic. 
So, you know, make sure you do 

483
00:23:21,400 --> 00:23:24,300
that and you do it early. 
Don't wait for a time in your 

484
00:23:24,300 --> 00:23:27,400
career where you feel like by 
the way, if I get to the next 

485
00:23:27,400 --> 00:23:29,700
level that I'm going to spend 
time with my family, I get to 

486
00:23:29,708 --> 00:23:32,200
the next level then I'm going to
take the vacation that I've 

487
00:23:32,200 --> 00:23:35,500
talked about taking don't don't 
delay those things doing it 

488
00:23:35,500 --> 00:23:38,900
before and 15 or 20 years ago. 
I don't need all that. 

489
00:23:39,000 --> 00:23:40,700
Stuff. 
And I should have been doing it 

490
00:23:40,700 --> 00:23:42,900
all along Because by the way, 
doing those things and spending 

491
00:23:42,900 --> 00:23:45,900
time reflecting and enjoying the
company of friends and 

492
00:23:45,900 --> 00:23:50,800
colleagues and and and family, 
really energizes you to be more 

493
00:23:50,800 --> 00:23:52,800
creative. 
So one is don't Delight. 

494
00:23:52,900 --> 00:23:55,800
Do those things right? 
Bigger job, but do those things 

495
00:23:55,800 --> 00:24:00,100
don't delay them. 
I'd go back to you. 

496
00:24:00,100 --> 00:24:02,600
Don't always do work, the work 
that you want to do. 

497
00:24:02,600 --> 00:24:06,400
And this is something that I 
think is tough to explain. 

498
00:24:06,400 --> 00:24:08,900
Is that the job that you're 
going to start with? 

499
00:24:09,100 --> 00:24:11,200
It might be the work you want to
do. 

500
00:24:11,200 --> 00:24:13,700
You might not want to be doing 
the particular role. 

501
00:24:13,700 --> 00:24:16,500
You have that's fine. 
You're going to do some of those

502
00:24:16,500 --> 00:24:18,100
jobs. 
I've done plenty of them out and

503
00:24:18,100 --> 00:24:21,700
you've done plenty of them over 
the years, do things. 

504
00:24:21,700 --> 00:24:24,600
Well that you might not like, 
doing as long as you do them for

505
00:24:24,600 --> 00:24:28,600
a company or for business, or 
for cost that you're passionate 

506
00:24:28,600 --> 00:24:31,000
about, right? 
And again, I've talked about 

507
00:24:31,000 --> 00:24:33,900
before things that companies 
that believe in being essential 

508
00:24:34,200 --> 00:24:36,600
companies, that grow because 
growing companies create 

509
00:24:36,600 --> 00:24:40,100
opportunity, right? 
So, I think, I think do stuff 

510
00:24:40,100 --> 00:24:41,800
sometimes. 
It's not your favorite to do, do

511
00:24:41,800 --> 00:24:44,000
it. 
Well, but do it in the context 

512
00:24:44,000 --> 00:24:45,500
of a company that you love to 
work for. 

513
00:24:46,200 --> 00:24:49,900
And I think maybe the last piece
of advice and I clearly didn't 

514
00:24:49,900 --> 00:24:52,600
give it to myself because I work
for IBM for, you know, a 

515
00:24:52,600 --> 00:24:58,400
quarter, 25 years change will 
change every three months or six

516
00:24:58,400 --> 00:25:00,300
months. 
But you know, if in fact once 

517
00:25:00,300 --> 00:25:02,400
you understand the environment, 
they're operating in, and if you

518
00:25:02,400 --> 00:25:06,300
go back to that is it energizing
is an essential as a growth. 

519
00:25:06,300 --> 00:25:08,100
Is it something? 
You know, that you agree with 

520
00:25:08,100 --> 00:25:09,900
the purpose? 
Of that business. 

521
00:25:09,900 --> 00:25:12,500
Because again, you have to have 
purpose and you have to tap that

522
00:25:12,500 --> 00:25:16,000
has to resonate, give it time, 
give it sufficient time. 

523
00:25:16,000 --> 00:25:18,500
Right? 
But move do different things. 

524
00:25:18,700 --> 00:25:22,300
We're in an operating 
environment now, where it is 

525
00:25:22,300 --> 00:25:25,700
very easy, and in fact expected 
to change and by the way, don't 

526
00:25:25,700 --> 00:25:28,600
limit it to changing from a 
company in the exact industry 

527
00:25:28,600 --> 00:25:31,900
that you are today doing exactly
what you do today, right? 

528
00:25:31,900 --> 00:25:34,300
Racial diversity in terms of 
your experiences, because that 

529
00:25:34,300 --> 00:25:38,800
diversity of industry and role 
in the diversity of people, you 

530
00:25:39,000 --> 00:25:41,600
Work with will create a 
foundation that you'll use later

531
00:25:41,600 --> 00:25:44,500
in your career, that will 
prepare you for things that you 

532
00:25:44,500 --> 00:25:46,200
don't know. 
You need to be prepared for it 

533
00:25:46,200 --> 00:25:48,100
to you get tool. 
So I think those are the things 

534
00:25:48,100 --> 00:25:51,800
I would say. 
It's kind of as kind of balance 

535
00:25:51,800 --> 00:25:54,400
work for companies with purpose.
Sometimes do work. 

536
00:25:54,400 --> 00:25:57,300
You don't love for companies of 
purpose but be willing to be 

537
00:25:57,300 --> 00:26:00,900
flexible and change that sense 
of humor. 

538
00:26:02,500 --> 00:26:05,100
So I just published a new book. 
It's called psychological 

539
00:26:05,100 --> 00:26:07,600
analysis, and it's number one on
Amazon. 

540
00:26:09,400 --> 00:26:11,900
Thank you very much. 
And in it, I talk about a lot of

541
00:26:11,900 --> 00:26:14,800
what you're sharing here. 
But I have a we have a I guess 

542
00:26:14,800 --> 00:26:18,100
it's similar frequency here on 
how we and Outlook so to speak. 

543
00:26:18,300 --> 00:26:24,300
How do you handle losing or fear
or rejection or just not being 

544
00:26:24,300 --> 00:26:26,100
able to close that deal? 
You want to close? 

545
00:26:26,500 --> 00:26:29,900
And in general, when you deal 
with your, your team, or you 

546
00:26:29,900 --> 00:26:32,600
deal with yourself and then 
wanting to win, but overcoming 

547
00:26:32,600 --> 00:26:35,300
those inevitable obstacles that 
get in your way? 

548
00:26:35,300 --> 00:26:37,300
How do you handle all that? 
Yeah. 

549
00:26:38,100 --> 00:26:40,300
Oh, yeah, I would like to Tell 
you that these things are easy, 

550
00:26:41,800 --> 00:26:46,500
you know, generally the way I'm 
always focused on on failure or 

551
00:26:46,500 --> 00:26:48,900
the fact that you didn't see it.
So you in a particular deal or 

552
00:26:48,900 --> 00:26:53,700
particular, Endeavor is 
everything you do and sometimes 

553
00:26:53,700 --> 00:26:56,300
it's more painful than 
pleasurable, is a less than 

554
00:26:56,300 --> 00:26:58,100
terms of your learning 
something, right. 

555
00:26:58,300 --> 00:27:02,200
So what I what I have always 
told the team is point. 

556
00:27:02,200 --> 00:27:05,200
Number one, bad news doesn't get
better with age, right? 

557
00:27:05,200 --> 00:27:08,300
So make sure if something 
happened deal with it in our 

558
00:27:08,300 --> 00:27:10,800
table, It's understated point 
to. 

559
00:27:12,400 --> 00:27:14,500
What did you learn from it and 
answers you to learn anything 

560
00:27:14,500 --> 00:27:15,900
from it. 
You need to take another look at

561
00:27:15,900 --> 00:27:17,900
it because if you weren't 
successful, there was a reason 

562
00:27:17,900 --> 00:27:20,100
for that. 
And by the way, not always 

563
00:27:20,100 --> 00:27:22,600
external factors that are the 
reason that you weren't 

564
00:27:22,600 --> 00:27:25,600
successful in a particular 
Endeavor, a deal, or a program 

565
00:27:25,600 --> 00:27:28,400
or what have you. 
And I think the other boot is 

566
00:27:28,900 --> 00:27:30,400
you got a lot of arrows to 
shoot. 

567
00:27:30,900 --> 00:27:34,500
You have to be able to step back
and some of that is you have to 

568
00:27:34,500 --> 00:27:37,600
have leaders who have enough 
breath and experience that you 

569
00:27:37,600 --> 00:27:40,600
can take people and you really 
nurture people as they come up 

570
00:27:40,600 --> 00:27:42,700
through the ranks. 
I joke about this, by the way, 

571
00:27:42,700 --> 00:27:45,300
somebody says, what's a great 
place to start in your 

572
00:27:45,300 --> 00:27:49,300
organization to great places. 
Starting our organization is in 

573
00:27:49,300 --> 00:27:52,400
customer service and an inside 
sales, right? 

574
00:27:52,700 --> 00:27:55,700
Because both of them, you have a
high degree of success and a 

575
00:27:55,708 --> 00:28:00,400
high degree of failure, right? 
So to get very comfortable with 

576
00:28:00,400 --> 00:28:02,100
that, you're going to take a lot
of shots. 

577
00:28:02,300 --> 00:28:04,400
Right? 
Right, and I'm not using the 

578
00:28:04,400 --> 00:28:06,300
baseball analogy because 
everybody is the baseball 

579
00:28:06,300 --> 00:28:10,500
analogy, but, but accept the 
fact that Going to fail, expose 

580
00:28:10,500 --> 00:28:13,700
them Lauren for them and farther
like shot as quickly as you can 

581
00:28:13,700 --> 00:28:16,000
and shoot better than next time 
based on what you learn. 

582
00:28:16,800 --> 00:28:19,400
Again. 
I you you know it as well as I 

583
00:28:19,408 --> 00:28:22,800
do there. 
It's not magical stuff is it's 

584
00:28:22,800 --> 00:28:27,500
basic but it's really hard in 
the context of how fast and how 

585
00:28:27,500 --> 00:28:30,200
hard we're running every day to 
do the basic stuff. 

586
00:28:30,200 --> 00:28:32,500
But that's the way I've always 
thought about in terms of 

587
00:28:32,500 --> 00:28:34,100
developing leaders, you know 
Rusty. 

588
00:28:34,100 --> 00:28:36,200
That's really powerful because 
in the book actually say it's 

589
00:28:36,200 --> 00:28:38,600
simple, but it's not easy. 
So if you look at moving wait 

590
00:28:38,600 --> 00:28:39,900
for Sample. 
Because we can all relate to 

591
00:28:39,908 --> 00:28:42,000
that. 
It's calories in versus calories

592
00:28:42,000 --> 00:28:44,900
out, simple in theory, but most 
people are overweight because 

593
00:28:44,900 --> 00:28:47,900
it's not easy. 
So, the same thing with winning 

594
00:28:47,900 --> 00:28:49,600
or being successful. 
I like this is really, really, 

595
00:28:49,600 --> 00:28:52,500
really enjoyable for me. 
So, final question, I have for 

596
00:28:52,500 --> 00:28:54,700
you today Rusty's leadership. 
Let's talk about that. 

597
00:28:54,700 --> 00:28:56,200
What makes a good leader in your
opinion. 

598
00:28:58,000 --> 00:29:01,700
I think L have an enormous 
amount of responsibility to set 

599
00:29:01,700 --> 00:29:06,100
vision and direction. 
I think probably the one thing 

600
00:29:06,100 --> 00:29:11,000
that separates a great leader 
from an average leader is All 

601
00:29:11,000 --> 00:29:14,500
executives are senior people are
pretty capable of executing, 

602
00:29:14,500 --> 00:29:15,600
right? 
That you didn't get to the 

603
00:29:15,608 --> 00:29:18,700
position of being a leader. 
If you can demonstrate a track 

604
00:29:18,700 --> 00:29:21,400
record that you couldn't want up
a plan and execute a plan and 

605
00:29:21,400 --> 00:29:23,100
produce predictable. 
As all right? 

606
00:29:25,200 --> 00:29:27,600
What makes a great leader is 
someone who actually can 

607
00:29:27,600 --> 00:29:33,200
Inspire, right design and 
articulate a purpose for the 

608
00:29:33,200 --> 00:29:35,200
direction at whatever level you 
are in an organization. 

609
00:29:35,200 --> 00:29:37,800
This is not a CEO comment. 
This is the report of an 

610
00:29:37,800 --> 00:29:41,000
organization that your In right?
You're gonna find that great 

611
00:29:41,000 --> 00:29:45,800
leader is how do I, how do I put
this directly? 

612
00:29:45,800 --> 00:29:49,600
If you have a vision in a 
direction you want to take your 

613
00:29:49,600 --> 00:29:51,900
business and you're excited 
about it and you're energized 

614
00:29:51,900 --> 00:29:55,400
about it. 
People will get excited about 

615
00:29:55,400 --> 00:29:57,000
it. 
People will execute people will 

616
00:29:57,000 --> 00:30:00,400
follow. 
If all you do is a leader is 

617
00:30:00,400 --> 00:30:03,000
manage execution. 
I can guarantee you're going to 

618
00:30:03,000 --> 00:30:04,700
have an average business. 
You can have a growth. 

619
00:30:04,800 --> 00:30:07,000
Right? 
I think the other bit is really 

620
00:30:07,000 --> 00:30:08,400
good. 
Leaders can set that Vision can 

621
00:30:08,400 --> 00:30:10,000
set that. 
Shouldn't get energized people 

622
00:30:10,000 --> 00:30:12,500
around where they're going and 
why they're going there. 

623
00:30:12,900 --> 00:30:15,600
You can hold the metrics, the 
kpi's, the management structure 

624
00:30:15,600 --> 00:30:17,900
in a sport that can hire the 
right Talent, right? 

625
00:30:18,500 --> 00:30:20,300
What would change? 
Just look at it? 

626
00:30:20,308 --> 00:30:22,300
And if you look at it on Monday,
you might have looked at the 

627
00:30:22,308 --> 00:30:25,400
last money and said we're going 
there because I know we should 

628
00:30:25,400 --> 00:30:29,400
go there and you have to keep 
every every avenue in new 

629
00:30:29,400 --> 00:30:32,400
information flowing. 
If the next Monday you go. 

630
00:30:32,800 --> 00:30:35,600
That's not right. 
Be willing to adapt, be willing 

631
00:30:35,600 --> 00:30:38,800
to move but always reset your 
team with we're moving. 

632
00:30:38,900 --> 00:30:43,100
I'm from here to here, but reset
them with the, why not just the 

633
00:30:43,100 --> 00:30:46,400
removing, right? 
Because if your team understands

634
00:30:46,400 --> 00:30:48,900
and is passionate about the 
direction, as you, make course, 

635
00:30:48,900 --> 00:30:51,600
Corrections and changes. 
If you lead with, why are on 

636
00:30:51,600 --> 00:30:56,000
mobile, if you, if you make 
changes constantly, you'll lose 

637
00:30:56,000 --> 00:30:57,500
the core capability of your 
team. 

638
00:30:57,500 --> 00:31:01,800
So, I think, I think, I think 
vision and focus on being 

639
00:31:01,800 --> 00:31:06,700
essential and, and compelling 
direction is the thing that's 

640
00:31:06,700 --> 00:31:08,700
most missing in the Years 
hiding. 

641
00:31:09,200 --> 00:31:12,800
Hey, we've got an entire country
of effective Educators. 

642
00:31:13,200 --> 00:31:16,300
We got a lot of number of people
who said Direction, 100% agree. 

643
00:31:16,600 --> 00:31:17,700
Obviously. 
This has been absolutely 

644
00:31:17,700 --> 00:31:19,700
fantastic. 
What is the best way or the 

645
00:31:19,700 --> 00:31:21,500
website of the best way people 
get in touch with you? 

646
00:31:21,500 --> 00:31:24,500
So we're focused their website 
is perfect. 

647
00:31:24,500 --> 00:31:26,100
That is like that, calm, 
beautiful. 

648
00:31:26,400 --> 00:31:28,900
Well, thank you so much for 
joining me and I will now read 

649
00:31:28,900 --> 00:31:38,700
your thoughts. 
It was so well done, by the way.

650
00:31:39,400 --> 00:31:41,200
It's great to catch up with you.
Thank you very much. 

651
00:31:41,200 --> 00:31:43,300
Appreciate, and hope you will. 
Having a have you on again soon.

652
00:31:44,200 --> 00:31:44,500
Bye. 
For now.