The price that bleeds your business could also save it. We're revisiting a classic episode with ClassPass' Payal Kadakia to focus something every entrepreneur struggles with: pricing. When you invent something innovative, you can’t know how to price it on Day One. But you need to get people in the door — a LOT of people — even if you have to price your product fatally low at first. In this episode, ClassPass founder and chair Payal Kadakia shares the winding path to the right price — and how the journey revealed what was most valuable about their service.Read a transcript of this interview at: <a href="https://mastersofscale.com/payal-kadakia-how-to-price-your-product-to-scale/" target="_blank">https://mastersofscale.com/payal-kadakia-how-to-price-your-product-to-scale</a>.Subscribe to the Masters of Scale weekly newsletter at <a href="http://eepurl.com/dlirtX" target="_blank">http://eepurl.com/dlirtX</a>.

Masters of Scale with Reid Hoffman

19. How to price your product to scale, w/ClassPass's Payal Kadakia

Some products are vitamins and some are painkillers – the best, though, are both. This is what Clara Shih, founder and CEO of Hearsay Systems, learned when she launched her software startup. To survive, she needed to shift her platform from a nice-to-have into a can’t-live-without. In doing so, she learned a key secret to scale: Solve your customers’ urgent needs now... while looking ahead to their future wants. Cameo appearances: Shellye Archambeau (MetricStream), Gary Alexander (Interactive Education Concept).

Be a painkiller AND a vitamin, w/Clara Shih (Hearsay Systems)

It's the opposite of what you were taught. The best entrepreneurs — they let fires burn. Knowing which problems NOT to solve is as critical as knowing how to solve them. We're revisiting this episode with serial entrepreneur Selina Tobaccowala (Evite, SurveyMonkey, TicketMaster, Gixo) with the one thing that every entrepreneur needs to know right now: You have to conserve energy for the biggest blazes, and learn how to sleep easy while other fires smolder around you. Cameo appearances: Cheryl Kellond (Apostrophe, Inc.), Brian Chesky (Airbnb), Lisa Curtis (Kuli Kuli), Hadi Partovi (Code.org), Jerry Chen (Greylock Partners).

Let Fires Burn w/Selina Tobaccowala (Evite, SurveyMonkey, Gixo)

How to keep a university's doors open and make safe choices? This is the question for Dr. Mary Schmidt Campbell, president of Spelman College. Earlier this month Dr. Campbell announced Spelman's plan for the upcoming academic year – with decidedly fewer students on campus (and substantially fewer fees collected). Meanwhile, as the head of a leading historically Black college, based in the protest hotbed of Atlanta, she's also been grappling with social unrest and calls for change. Spelman is taking this moment to experiment with how best to virtually support students, reorganize curriculum, and continue to push for equity in higher education investment.

Special: Building a bridge over troubled waters, with Spelman College president Dr. Mary Schmidt Campbell

How do you take smart risks, how can you be transparent – but inspiring – with your board and your team, how do you keep up morale in what seem like the darkest days, and what does the future of blitzscaling look like now? Reid answers all in another Strategy Session. This session is a little different – what you're about to hear is actually a portion of Reid’s virtual fireside chat with Linda Rottenberg, the CEO and co-founder of Endeavor, an organization that supports and invests in entrepreneurs worldwide, and especially in emerging markets. The fireside chat happened in the early Spring and you'll hear a certain amount of urgency in the questions from entrepreneurs. Then – and now – there is so much we are still learning. Reid shares important, clear insight; honest answers; and gives us all some encouragement.

Strategy Session: How transparent should you be with your board? How do you boost morale in dark days? Is it time to blitzscale?

The pandemic has hurt many businesses – but PayPal isn't one of them. PayPal has boomed as e-commerce has swelled, with stock up more than 50% this year and a huge new demographic joining the platform. That doesn't mean, though, that CEO Dan Schulman has been sitting back. PayPal recently committed more than $500 million to support Black and minority-owned businesses, after facilitating some $1.9 billion in PPP loans to largely underbanked communities. Dan says PayPal has a unique opportunity to spur emerging economic recovery – and to make a longterm impact in the fight for racial justice. Interviewed by editor Bob Safian.Read a transcript of this episode:&nbsp;<a href="https://mastersofscale.com/charles-best/" target="_blank">https://mastersofscale.com/rapidresponse/</a>Subscribe to the Masters of Scale weekly newsletter at&nbsp;<a href="http://eepurl.com/dlirtX" target="_blank">http://eepurl.com/dlirtX</a>

Special: Inside PayPal's $530M plan to close the racial wealth gap, with CEO Dan Schulman

There's no quick fix to 400 years of oppression, says Color Of Change president Rashad Robinson. One of the largest racial justice organizations in the US, Color Of Change works with decision-makers in business and government to enact systemic change. In 2020, Color Of Change has seen its membership swell — along with its impact. Rashad's group railed against Hollywood's reflexive pro-police agenda, forcing TV shows "Cops" and "Live PD" off the air, and launched the Stop Hate For Profit campaign to hold tech companies accountable for what happens on social platforms. By working together, says Rashad, we can make a lasting difference.

Special: What it will take for tech and Hollywood to be anti-racist, w/Color Of Change's Rashad Robinson

To survive a crisis, you have to double down on who you already are as a company. This is something Ellen Kullman knows, having led DuPont through the 2008-2009 financial crisis, and taken the CEO role at 3D-printing unicorn Carbon only weeks before Covid hit. Through her years as a leader, Ellen has developed four crisis principles that allowed her to lead teams and thrive through pandemic, economic meltdown, and beyond. The key? Practicing the principles in calmer times, before crisis hits. Because as Reid says: there's no such thing as a crisis playbook. There's just your playbook. Cameos: Amy Shira Teitel (spaceflight historian), Jonah Peretti (BuzzFeed), Brian Chesky (Airbnb), Neil Blumenthal (Warby Parker), Stacy Brown-Philpot (TaskRabbit).

4 core principles of crisis management, w/Ellen Kullman (DuPont, Carbon)

"This was like 1918, 1929 and 1968 in one week," says Darren Walker, president of the Ford Foundation. With the pandemic, economic crisis, and civil unrest all coming together after George Floyd's death, Walker found himself flooded with calls from CEOs struggling for how to respond. Walker's advice mixes clear-eyed messages — denying the trauma borne by communities of color is no longer option — with optimism about the opportunities ahead. At the Ford Foundation, they've accelerated giving and even exceeded their own KPIs. With more leaders dedicated to making a positive impact, he says, the wind is changing, for people of color and for America.Read a transcript of this episode: https://mastersofscale.com/rapidresponse/Subscribe to the Masters of Scale weekly newsletter at http://eepurl.com/dlirtX

Special: A new playbook for new times, w/ Ford Foundation president Darren Walker

Startups are audacious. They’re big. They’re world-changing. But you can’t achieve scale on day one. Sometimes the best way to achieve that monumental success tomorrow is to take a teeny tiny step today. This is what Charles Best did when he founded one of the world’s first crowdfunding platforms, DonorsChoose. For 20 years, the nonprofit has been helping public school teachers get funding and supplies for classroom projects and it all started with just a handful of projects in the Bronx, where Charles was a public school teacher. Now it funds thousands of projects in all 50 states, raising almost a billion dollars in the process. Charles did it by adeptly creating a flywheel that matches for donors and grantees, allowing them to connect directly with one another, and doing it all one small step at a time. Cameo: Stephen Colbert. Visit DonorsChoose.org Learn more about US campaign funding laws: <a href="https://www.fec.gov/introduction-campaign-finance/understanding-ways-support-federal-candidates/" target="_blank">https://www.fec.gov/introduction-campaign-finance/understanding-ways-support-federal-candidates</a> Read a transcript of this episode: <a href="https://mastersofscale.com/charles-best/" target="_blank">https://mastersofscale.com/charles-best/</a> Subscribe to the Masters of Scale weekly newsletter at <a href="http://eepurl.com/dlirtX" target="_blank">http://eepurl.com/dlirtX</a>

Stephen Colbert + DonorsChoose's Charles Best — The power of small goals

A surprisingly candid and upbeat interview on the industry hardest hit by the pandemic. Delta saw seat bookings fall to less than 5% of normal, had 40,000 employees go on unpaid leave, and raised $14 billion in funding – all to withstand a cash burn that still stands at $30 million a day. To rebuild traveler trust, Delta CEO Ed Bastian has enacted a slew of new safety standards, including capping flight loads at 60 percent and using hospital-grade HEPA filters on board –&nbsp;in fact, Bastian contends there's not a safer time to be on a plane than right now. He's also sped up forward-facing company initiatives, like phasing out less-efficient planes, building out airport terminals, and installing better wifi. Bastian acknowledges there will be fewer planes in the sky in years to come, but he believes Delta will come out of the pandemic as strong and essential as ever.Read a transcript of this episode: https://mastersofscale.com/rapidresponse/Subscribe to the Masters of Scale weekly newsletter at http://eepurl.com/dlirtX

Special: Burning cash, accepting turbulence w/Delta CEO Ed Bastian

Every great founder has a second purpose — something outside their main business they're trying to get done in the world. And every successful company is like a Trojan Horse, carrying this second purpose forward. No one knows this better than Robert F. Smith. You may know him for his legendary Morehouse commencement speech (in which he promised to pay off the student loan debt of the entire graduating class), but Robert's scaling success and philanthropic work go far beyond that. As founder, chair, and CEO of private equity firm Vista Equity Partners, Robert finds profound ways to serve both his business and his second purpose — liberating people to reach their true potential — at scale. Recorded live at Summit LA 2019.

Liberating the human spirit, w/Robert F. Smith (Vista Equity, Morehouse Commencement), Recorded live at Summit LA 2019

What can your business do right now in the struggle against racism? More than you think, says Shellye Archambeau, former CEO of MetricStream, now a board member at Verizon, Nordstrom and Okta. She returns to the show with her all-too-rare perspective as a Black woman at the top of some of the world’s largest businesses. The struggle is a marathon, but businesses are uniquely poised to demand accountability and transparency from their communities. Whether you're a CEO or a citizen, Shellye has heartfelt and hard-earned wisdom for us all.Learn more about Shellye’s upcoming book Unapologetically Ambitious at <a href="https://www.grandcentralpublishing.com/titles/shellye-archambeau/unapologetically-ambitious/9781538702895/?utm_source=facebook-instagram-twitter-pinterest&amp;utm_medium=social&amp;utm_campaign=unapologetically-ambitious" target="_blank">unapologeticallyshellye.com</a>Follow Shellye on Twitter at: <a href="https://twitter.com/ShelArchambeau" target="_blank">https://twitter.com/ShelArchambeau</a>Read the full transcript of this episode at <a href="https://mastersofscale.com/rapidresponse/" target="_blank">mastersofscale.com/rapidresponse</a>

Special: How business can engage against racism, w/Shellye Archambeau (MetricStream, Nordstrom, Verizon)

Forget writing that business plan. Design an experiment instead. So many products and companies fail because the assumptions in their beautiful business plans were just wrong. So stop writing and start testing. No one knows this better than Eric Ries, author of The Lean Startup and founder of the Long-Term Stock Exchange. After his first product failed, he developed a new method of product design based on running small, fast experiments, measuring the results, and learning from them. It’s a system built on data, not assumptions, and it works with almost everything, from app development to airplane design. It starts with establishing your own measure of success — then experimenting, improving, and trying over and over again. The feedback loop never stops.Learn more about the Long Term Stock Exchange: <a href="https://ltse.com/" target="_blank">ltse.com</a>Learn more about The Lean Startup: <a href="http://theleanstartup.com/" target="_blank">leanstartup.co</a>Read Eric’s blog, Startup Lessons Learned: <a href="http://www.startuplessonslearned.com/" target="_blank">startuplessonslearned.com</a>Listen to Eric’s new podcast, <a href="https://podcasts.apple.com/us/podcast/out-of-the-crisis/id1505392824" target="_blank">Out of the Crisis</a>, on Apple Podcasts: <a href="https://podcasts.apple.com/us/podcast/out-of-the-crisis/id1505392824" target="_blank">https://podcasts.apple.com/us/podcast/out-of-the-crisis/id1505392824</a>Read a <a href="https://mastersofscale.com/eric-ries/" target="_blank">transcript</a> of the episode: <a href="https://mastersofscale.com/eric-ries/" target="_blank">https://mastersofscale.com/eric-ries/</a>Subscribe to the Masters of Scale <a href="http://eepurl.com/dlirtX" target="_blank">weekly newsletter</a>: http://eepurl.com/dlirtX

Test. Measure. Repeat. — w/Eric Ries (Lean Startup; Long-Term Stock Exchange)

GM is now reopening auto plants, after shutting them in March, temporarily reducing pay for 69,000 employees, and making a fast pivot to produce masks and ventilators. But with the killing of George Floyd, things are hardly back to normal. Chair and CEO Mary Barra speaks to her “profound feeling of sadness,” but also to her optimism that the country and her company will bounce back. Though there is work to be done, says Mary, we're poised for transformation.

Special: GM's Mary Barra: "Deep, profound sadness" and "going ventilator fast"

The best startup advice from Silicon Valley &amp; beyond. Iconic CEOs — from Nike to Netflix, Starbucks to Slack — share the stories &amp; strategies that helped them grow from startups into global brands.On each episode, host Reid Hoffman — LinkedIn cofounder, Greylock partner and legendary Silicon Valley investor — proves an unconventional theory about how businesses scale, while his guests share the story of how I built this company. Reid and guests talk entrepreneurship, leadership, strategy, management, fundraising. But they also talk about the human journey — with all its failures and setbacks.&nbsp;With original, cinematic music and hilariously honest stories, Masters of Scale is a business podcast that doesn’t sound like a business podcast. Guests on Masters of Scale have included the founders and CEOs of Netflix, Google, Facebook, Starbucks, Nike, Fiat, Spotify, Instagram, Airbnb, Uber, Paypal, Huffington Post, Twitter, Medium, Bumble, Yahoo, Slack, Spanx, Shake Shack, Dropbox, TaskRabbit, 23&amp;Me, Mailchimp, Evite, Flickr, CharityWater, Endeavor, IAC and many more.

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Masters of Scale with Reid Hoffman

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