One. And welcome everybody to another
smart money Circle update. I'm Adam sorry--and with me
today is a very special guest dr.
TJ Jiang who's co-founder and CEO of f point.
And we've got a lot to talk about today.
I'm very excited that ticker symbol for everybody.
That's following is a v PT. Without further Ado, dr.
TJ, welcome to the show. Thank you for having me on the
show, Adam, I always like to ask you tell us a little about your
journey and how you got to where you are today?
Yeah. So I was always a computer
science engineer. First job out of school was at
loosen Bell Labs. That's where I met.
My co-founder Chi goal and then I went to work on Wall, Street
was writing trading systems that don't ship bank and then the
Lehman Brothers and I 11, was it event that's forever important
in my life. My office 40th floor of World
Trade Center one. That's yeah.
Change of course. Directory for me.
So for instead of, you know, staying in Wall Street and work
on very nice paying job. I went back to grad school, I
went to NYU business school first, the MBA, but then changed
to the Ph.D program for data mining and machine learning and
then started this business a point along with my other
co-founder Kai. And it's been a great journey
ever since now. Twenty one year later, we are a
public company and we're still So very much passion about what
we do, and very, very excited about our future.
Congratulations. That's an awesome story.
So, for people that are not familiar with that point, can
you please get those little about the business and what you
guys do? Yeah iPod today is the largest
third-party SAS data management and governance platform for
Microsoft cloud. So, sassy software-as-a-service
were truly Global wearing 18 countries, servicing customers
around. 100 countries, we operate, mostly in the Regulated
industry. So folks like governments Banks,
pharmaceutical, manufacturing, who really care about who has
access to what when and where so it's really that data, security
and lifecycle management data that we really have this Cloud
platform to help companies manage and since we have gone
through sass from on-prem world because this company has been
around for 21 years and SAS hasn't been around for that
long. We are now available to a lot of
SMB businesses as well, so we just seemed very, very new,
various new Avenue for growth to help more and more consumers.
And now Partners, as well as managed service providers to
again secure and Governor data in Cloud.
I love it. That's fantastic.
So TJ, let's talk about risk since obviously Cloud risk data,
it all intertwined. And that's pretty much the
golden thread, if you will of what you see, what problems you
guys solve, and how the value, you offer your clients key, talk
to me a little about risk management and how you handle
risk and what mistakes, you see, people make with respect to risk
management. Yeah, I think risk is a
necessary part if it's a quintessential part of business
as well as his life, my advice. And what I live by a stoolie
into risk in business with say, the only constant in business is
change. So instead of I see some folks,
typically risk-aware averse are, make the conservative decisions.
But you know what? Adam in businesses, the ones
that thrive other one that's actually making unconventional
moves. And the contrary I move if we're
well to essentially differentiate themselves from
others. So as an entrepreneur we are
eternal optimist. We go through the ups and downs
and we lean in to risk. The key part of those is not
just full heartedly lead to risk, its to stay, I don't keep
your fingers and toes all on the ground talk to Us know how the
market shifting? I spend much of my time travel
to different parts of the world, talk to customers, talk to
Partners, talk to my management, and employees.
And so I have paws on where the market is going.
So that way you can kind of forecast and see how the market
shifting as a way to manage your risk.
So don't shy away from risk getting into it, manage its to
stay agile and be able to Pivot and that's key to yes.
I love that. Yeah, leaning into risk is so
powerful because most people look at it and pain and they
kind of they want to run away from it, but then it hit some
anyway in there, just not prepared.
Okay, wonderful. So let's talk about the company,
a lot of people interested in the stock as well.
So he tells us some of your competitive advantages, please.
Yeah, so a point, we started our pedigree on-prem world is what
this Microsoft Enterprise content management platform
called SharePoint. So our pedigree has always been
Enterprise content management. What does that mean?
That means we actually look at business data from the birth the
creation to also all the way to the, you know, disposal.
So the entire life cycle of business data.
So that means collecting and connecting different systems
cloud-to-cloud home from to Cloud.
Um, and also ready focus on the entire life cycle.
So that platform play in. Today's Cloud world is very
unique, so we don't have a singular competitor.
We have Point competitors. So for example, we do data
migration integration, then we also do business continuity,
situation of data, backup data archiving and we also do license
management, entitlement management and Cloud usage man.
Judgment so that we can save customers money from cloud over
you overage that type of scenarios.
And of course, from a compliance and data privacy perspective,
have record management and compliance solutions to look at
data privacy. So from that perspective, we
don't Point competitors in each of these phases at talked about
in terms of that data lifecycle management.
So we win by being a platform player.
Now, it's really interesting. We historically are very strong.
The Enterprise space because Enterprise truly care about
these things. Think of you know IBM's and
Goldman Sachs and American Express, but very interesting.
Once we make the solutions SAS there, a lot more accessible
because we're software as a service, we're running it or
operating it, we're securing it. So customer just have to point
to their Microsoft cloud, tenant, and then off where to
the racist also many, many small businesses are coming to us
these small businesses There are five men no architect firms or
ten. Men leading law firms are also
coming to us so that we see expansion not from only
enterprise process and B, and we're doing this globally and
that's also another very unique aspect of us.
So most software companies, even look at Salesforce or 75 percent
Revenue come from USA for us. We're quite Global.
We kind of mirror what? Microsoft's Revenue
distribution. Of course, they're massive
organization. But for us, 45 percent of our
business is north. And the 55% is evenly split
between Western Europe and the tier one software marketing
Asia, like Japan Australia, New Zealand, South Korea, Singapore.
So, yeah, so that also, that Global flavor to this companies,
as also quite unique. I love that.
That's, that's really fantastic. So TJ, let's talk about some
Timeless lessons. You've learned along the way,
you've had a remarkable story. Started off shifted, your career
went back to grad, school to become built.
The company. Took it public, and here you are
now. CEO, and co-founder so talk.
If you can talk to us a little bit about some of the Timeless
lessons, you've learned along the way that you'd like to share
with the audience. Yeah, that's there's so many
heartaches along the way. I often give these talks in
Business Schools and talk about entrepreneurship.
A lot of people just think, you know, entrepreneurship, it's
just the, the only way to go for me.
It's You know, it's a lifestyle. It's a completely different Life
Choices. Entrepreneur is not for the
faint of heart. It's actually most 99.999% time
it's really, really hard. It's truly a 24 by 7 job but my
advice to people is life is Journey in life is a marathon
you know everyone can be successful in their own right
and have very fulfilling lives. It's focused on that part of a
focus on the journey. Don't don't you know be too
stressed out and don't Um, you know, be too hard on yourself
sometimes when you go through of sickos are when the market
changes for you. You know, it's about how you re
make yourself through that Journey, whether it's creating a
company or whether it's developing your career or
whether you rascal, you know, just enjoy the journey.
That is to sure Adam. Yeah, I love that.
It's such a great parallel to my own journey and enjoy the ride
is so, so powerful. Okay.
What are some Timeless mistakes you've made?
Or you've seen people make and how do you recommend?
People avoid them. So I have five really young kids
and sometimes I found that. So I often read a story books to
them when they go to sleep, I actually glowing a lot more
truth from these children's books.
So the hair versus turtle story, it's one I read to them a lot.
And I recognize that it's actually really good Parable on
life. So don't rush it.
I think a lot of folks, It's you know work hard try to go for
immediate return immediate results and then once they get
to a certain stage, they kind of, you know, kind of hit a
plateau or just enjoy life. And or, you know, just take a
more conservative risk-averse approach.
Whereas I said, hey actually from this principle of life is a
journey lifelong, you know, growth mindset hundreds.
A hundred times, the turtle will be there, you know, slow and
steady, always win the race. And the race is actually a
lifelong one. So that's what I now, teach me
the kids and that's the lesson I can also learn from it, so it's
like, yeah. So there are things, you know,
you want to win this so bad and you want to get to it.
But you know what? Actually, oftentimes patience
and persistence and perseverance is the best way to go.
And then, just keep going on. Yeah, I love that.
I have young kids too, and it's amazing to me how much I've
learned about adults by just, Looking at children and their
interactions and and how they behave and so on and so forth.
It's really really unbelievable. I love that story.
Yeah, thank you for sharing that TJ.
All right, so What makes a great leader.
That's a great question. So for me personally, it's about
servant leadership. That means we have to do the
things that we ask people to do. So at a point where very flat
organization, I never have executive assistant.
I said, hey, there's technology for that if you need to book a
time. I'm calendar, Etc.
Just let's do that, right? So, so we we are flowered
ization. We don't Like to have other
people do things that we can do ourselves.
We Empower people, so that they can get to the next level.
So, we always looking to develop next-generation leaders.
But first and foremost is servant leadership.
So don't act like a big boss is, you know, no job is too low for
Senior Management, especially for CEO, Jose.
CEO is actually the chief on a washer cheap entertainment
officer as well as a chief executive officer.
You have to all of it right in tough times.
You have to be the cheap charity.
Aitor. You know in really tough times,
you have to jump in and do the work talk to a client, right?
The proposals review, the deals and work the negotiations.
So I think that people see it and people follow because that
gives you credibility, you're not just a talking head that
just says do podcasts all day long, right?
But actually out there doing the hard yards with, you know,
everybody and that instils. So much, you know, confidence.
And and and, you know, essentially we're in this
together, so I think that works really well for me.
Yeah, love that. That's really, really good.
I have a very similar approach in my leadership style as well.
Let's talk about some obstacles because like you said,
everybody, this Journeys is bumps along the way.
Let's talk about some obstacles. One that you feel.
You want to share a story that you faced and then how do you
overcome that? In other words, turn lemons into
lemonade or look at the bright side of it.
Oh boy, there is many many obstacles.
I think some of the advice I hear is, you know, problems,
never as bad as you think. So, you know, is there's just so
many stories to tell there. So I wash everyone's here with
you. Adam, when we first started we
were just too when, you know, two guys in Jersey, my
co-founder, For three years, he quoted summer said like Public
Library, his wife kicked him out of the house because he, you
know, he would just so stubborn. He wants to do this business and
his wife is like, go get a real job, right?
And and I was in grad school. So we went to Morgan Stanley to
because at the time we were the only one offering data backup
solution in this thing called Microsoft SharePoint.
And they said, hey, we'd like your product.
We tested, it works everything. But you know what?
Because we're not. Bank, where Wall Street, what if
you're not run next year? And I had to say, well, if you
buy our software, we will be remains here.
That's awesome. That's awesome.
It's, it's those Catch-22 situations in the early days of
starting a business that's really, really handy and you
just have to slog through and be very, very optimistic and you
know, just punch through it. And I often tell a lot of
entrepreneurs, you have to have the mindset of hey, not bad.
Being able to make any money for three years and can you still do
it? You know, can you still
convinced yourself and be passionate enough to pursue this
route? Because most people think about,
you know, Texas success. They think about Snapchat, they
think about, you know, they think about Facebook, Etc.
Almost instant overnight success.
You know, what 99.999% of the companies are not overnight
successes, right? I love that.
So, okay, if you thought come to mind their one, did you get the
account? You're assuming you did but we
actually did not get that account.
Oh, so that's why. Yeah, but you know what, we did
get at the same time it was funny.
So kind of my my co-founder he he didn't have enough.
Do I need to go to these trade show so there's our suspect
ratio in New Jersey. So what he did is he went to the
parking lot and print out flyers and every car put on every and
then one guy called him. I still remember to this day,
our very first customer Edward will be the A SharePoint admin
at the utility company PSE&G and, you know, and give us a
chance just from a flyer on his car in a parking lot at a
tration. I love that.
That is so awesome. Admittedly I've done Flyers.
Also on cars. It's very effective but let's
talk about some of the growth standpoint.
First off Have you always been an optimist or did that come
after success? I have always be off this.
I don't love it. I'm just curious.
Yeah, I think it takes a special mindset to be entrepreneur
because not, it's not something that's, you know, that works for
everyone, obviously. Right?
Otherwise, everyone would be entrepreneurs, right?
I think I'm always been off the missed that just my personality.
I love it. So I've noticed I interview lots
of CEOs and big money managers and one of the themes from the
very start Successful this more money if you will, the whole
point of the show is for money, circle is to learn.
And one of the similarities is that optimism, the unbridled
optimism being able to look at problems.
Instead of as something negative that can, you know, hurt you.
A kind of thing is opportunities that can help you and I love
that the optimism inside of you is magnetic.
I feel it. So let's talk about somewhere
where along the way, how did you come up with the idea that the
backup? SharePoint.
I'm very familiar the problem. How do you see that as an
opportunity and then decide to make the company?
That's a great question, Adam. So we started now, you share
point. We started in exchange and back.
Then, this is 2001 2002, when you're in B2B software, we
decide to pick P2P software, you're literally shipping.
See these two people. So nobody would buy CD from like
a guy and a half in New Jersey that they never heard of nobody
likes. And also seeing space is pretty
crowded, and then Microsoft came out.
With this thing called Lake Tahoe project.
So we say, hey actually use the same backup data for my said the
data structure, same schema same.
Let's just support it. Even though we know nothing
about it and there's still nobody bought some / and then a
year later Microsoft came out with the second version.
This was back in the day, along from software.
We're always the first version of Microsoft product is not
gray. Second version is getting
better, right? So they can have a second
version. We went to a trade show, which
is a table cloth on the table. And then Microsoft, I attended
this migration session. So Microsoft said, hey we have
the new version, the data schema is to SQL database, everything
is completely different so there's no migration path from
first version the second version so of course you know their
biggest customers and partners like HP and Dell said hey we're
believing you. Now you're leaving us high and
dry and there I saw an opportunity because we were
studying the back and formats. We knew the data structure.
We knew we can pack up, thereby, we can actually migrate and do
them. Being even though at that moment
with a product. So I raise my hand and say, hey
we can migrate you come over to our table, of course.
Everyone started coming over. We're just printing Flyers
everywhere again around the conferences and then that
included the person that came over was Microsoft head of
SharePoint development. Team gentlemen, been named ft /.
He said you have a product with. Yeah, so come and show me
Redmond, we coded the product over the weekend, nice.
I flew over. Over to Seattle took the
cheapest possible. Connecting flight.
Yeah, brought his PC power because he's too poor to have a
laptop plug into CRT monitor show that a worked, a deathlike
rate. We're going to start referring
customer to you. Nice.
So HP Dell Infamous, and that's what, you know, change, our
trajectory got it. I love that.
So it's like that. When lightning strikes, it's you
want to be there to capture that.
That's fantastic. So TJ.
Yeah, to be lucky and you have to see the opportunity and you
have to continue to roll with it.
Yeah. And be Innovative because you
literally didn't have anything but you coated over the weekend
and it worked so be there and be ready because yeah, that's
really powerful. Let's wrap up here TJ with
what's the best advice you can share with your 30 year old
self. Wow.
That's uh, that's always a very tough question for best piece of
advice. Let me give you more than one.
How about that? I would say.
Again, for our earlier conversation, you know, life is
a marathon. You just have to enjoy the
journey and pace yourself because I actually start running
marathon after. I turned 40 nice, my check on my
bucket list, item was to run the Habit.
Six the six major Marathon around the world.
I finally did that last year finished.
Well, done with Boston. So, so, you know, bringing the
new meaning, to me, running marathons.
So, when I was eating the earlier days in my 30s, I always
worry too much about what's ahead.
I would tell myself, you know, just part of the pleasure and
joy is the journey. I still thinking about early
days of a point when we had literally nothing and we were
traveling to different cities and just pitching and pitching.
All the time and hustling. And now, thinking back to it.
It's all nothing but fun memories.
And that time, I'm pretty sure I was pretty stressed out.
I always think him, are we going to be making next year or not?
Right? So I think is, you know, hey,
just trust yourself, be, you know, confident, State agile,
lean to the risk and enjoy the journey and I just not easy,
but, of course, you know, now, you know, looking back and
saying that is easy for me to say that.
But, of course, in that time, I was, I think a lot of times
more, you know, stressed out than enjoying the journey got,
you know, I love that. So TJ, you're still young and
you've got a long path in front of you talk about enjoying the
journey, but now that you've made it so to speak where you
don't have to worry about the next meal and or the flight,
it's like Maslow's hierarchy of needs, right?
So, okay, you now further up the the self-actualization type
thing. What other items Items gives you
Joy or gives you passion besides the running the business
creating things. Can you speak to that a little
bit? Because I know a lot of people
they want to make it. They try so hard, they're on
that Journey, they struggle, they've got that stress but then
they get to a certain point where it's like, Now what?
And then they want to climb the next Mountain.
Can you speak to that a little bit?
Because that would be very helpful if you don't mind.
Yeah, so I joined this organization called YPO.
So Young Presidents organization.
It's all about lifelong. Learning a growth mindset.
So it's organization of full other entrepreneurs.
Professional managers family office, folks, who have certain
sized businesses. It's life-changing for me and
I've learned so much from that to uncover my own blind spots
and also to To learn from others about how to overcome different
challenges and also matter, to to the community that, that you
live in, make a difference to the people, the community that
you work in. So that that has been
life-changing for me. And also, what I want to do
growing up as a platform is to elevate the next level leaders
and have them to go through that.
Experience. And for example, we one of our
very unique aspect of my point is we have offices in 18,
countries and predominantly. Oh, the heads of business in
each country, are the folks from those countries.
Nice. So we don't send, you know, like
all Americans to run the show. We actually, you know, in Japan
Japanese, all the senior manager, all Japanese in
Australia, Australia in German all German.
So Ginger me all German said that that kind of thing.
So we actually Trying to truly localize their approach to be
successful in the platform. We built in the process.
We're elevating these new generation of entrepreneurs if
you will to be successful. And to we, we try to Foster this
startup mentality and Entrepreneurship across our
platforms. For also, for example, recently,
we did a edtech vertical Focus spin out, it has its own CEOs
and its own funding. And so growing fantastically,
well take advantage of this This remote education, technology,
boom! That happened, party trigger by
covid. So, all those things allow us to
essentially creme or unicorns in the process, so that that's been
quite a joy and project for me. I love that.
That's awesome. Well, TJ, thank you so much, for
your help for coming on today and sharing your thoughts are
very helpful. Ticker symbols.
A VP T have point eight and hopefully teacher will speak to
you again soon. This is really really enjoyable.
Thank you, Adam. Thank you for having me on your
show. Happy Holidays.
Happy Holidays to you. Thank you, Adam.
Thank you for having me on your show.
Happy Holidays. Happy Holidays to you.