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Bryan Schreier
Partner at Sequoia, Sequoia Capital

The Merits of Discipline over Vision - Mathilde Collin + Bryan Schreier

🎥 Feb 01, 2019 📺 Startup Grind ⏱ 18m 👁 4655 views
Startup Grind Global Conference 2019 About the session: A Fireside chat with Mathilde Collin, Co-founder + CEO of Front, who talks about The Merits of Discipline over Vision. Interviewed by Bryan Schreier, Partner at Sequoia Capital. About the speakers: Mathilde Collin is the co-founder and CEO of Front, the first shared inbox for teams. Front serves more than 4,000 companies around the world and has raised $79 million in venture funding from investors such as Sequoia Capital, DFJ, and Uncork Capital. Mathilde was recognized in 2017 Forbes 30 Under 30 Enterprise Tech list and 2018 Inc’s 30...
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About Bryan Schreier

Bryan Schreier, a partner at Sequoia Capital, has spoken extensively about product-market fit, company building, and investment strategy in a series of public appearances. In a 2022 discussion, Schreier described product-market fit as a "holistic effort" that is "more of an art" than a science, and noted that many companies never achieve it. He emphasized the importance of a customer and sales-oriented approach, and said that early-stage founders should be prepared to "wear every hat" in the pursuit of product-market fit. Schreier also commented on the difficulty of securing Sequoia investment, stating that the firm meets about 2,000 companies per year and partners with only 10 or 12. Schreier has also discussed his firm's investment philosophy and the qualities he looks for in founders. He has stated that Sequoia's strategy is to be a partner from the idea stage through an IPO, and that the firm does not "optimize for exits." He has highlighted the importance of building a "world-class team" with people of "tremendous character," and has noted that more than 60% of Sequoia's portfolio companies were started by immigrants. Schreier has also advised entrepreneurs to be cautious about raising capital, stating that he encourages people "not to raise money" unless they have an "enormous opportunity" that justifies the dilution.

Source: AI-verified profile updated from Bryan Schreier's recent appearances. Browse all interviews →

Transcript (24 segments)
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Bryan Schreier0:04
I'm really pleased to be here with you all today. Probably the greatest privilege about what I get to do is build awesome relationships with people like Mathilde, oftentimes over a decade, sometimes from the seed round to an IPO and beyond. But the relationships come in all different shapes and sizes. I've been working with Mathilde for a little over a year now, and it's just an honor. I'm so excited to get to hear from her today. I'm Bryan, I'm at Sequoia. I've been at Sequoia for about 10 years. I focus on software and consumer companies. I'm going to let Mathilde give you a one-liner on Front. She's the CEO and founder of Front.
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Mathilde Collin0:48
I'm thrilled to be chatting with you, Bryan. So Front is reinventing email for the way teams work. What we're doing is adding collaboration, workflows, accountability, transparency in your inbox so that every knowledge worker in the world who's using email is more efficient.
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Bryan Schreier1:09
Awesome. I wanted to share briefly a couple of the things that got us so excited about Front and had us competing really hard in that round that was just discussed in the intro. One of the great things about Front and Mathilde and her co-founder Laurent is that they are immigrants. We've had great success backing immigrants over time. You might have noticed that Mathilde is French. When I really want to upset her, I try to use my fifth grade level French to communicate about board topics. But that was one of the things we love. We find the people who bootstrapped themselves and taken the risk to move to a new country are oftentimes more well prepared for a startup than most others would be. The other thing is that Mathilde is this incredibly unique leader who has the ability to lead people and create a culture that is both high performance and high humility. If you're a leader out there, you know it feels like those two things might be in opposition, but when you're truly evolved as a leader, you find the ability to do both. Over time, we found leading companies in this way is the most successful way to nail it in Silicon Valley. Third, getting to the topic of this chat, discipline. One of the things that Mathilde has talked about and been interviewed about is the merit of discipline over vision. I was hoping that we could start off with some of your thoughts on discipline.
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Mathilde Collin2:43
Sure. Obviously the goal is not to say that the vision doesn't matter. I think having an ambitious vision is super important to attract people and to give people a sense of purpose. But I think it's clearly not enough. If you're not disciplined enough, then you have no consistency, and if you have no consistency, then you can't succeed. I can tell you more about what I mean by discipline. I think there are three main ways I am disciplined. The first one is I'm very consistent in the communication that I do about my priorities and the metrics of the business. For example, every Monday morning at 10:00 a.m., Bryan receives an email with my priorities for the week, and all my direct reports do as well. Another example is we do a company-wide all-hands every Monday morning at 9:00 a.m., always the same format. We review all the metrics that are important to the business. So that consistent communication is one part. The second part is I'm very careful about how I spend my time. At the beginning of the week, I know exactly what I want to do, and then my EA will always track what I'm doing every single week. At the end of the week, she will send me an email with how much time I have spent on, let's say, executive hiring, product and strategy, sales calls. I have a goal for every week, so I can make sure that I'm following closely what I've said I would do. The last thing is no distraction. I have no notification on anything on my computer and my phone. One thing that I've started doing a few months ago is spending half a day a week, every Thursday afternoon, I'm going back home and I have just a notebook, no computer, no phone. The only thing I'm thinking about is: am I making progress on the top priorities of the business? Am I not seeing an opportunity that I should be seeing right now, or a risk that I'm not seeing? I think no distraction has been one of the best ways to be efficient and is a part of this discipline.
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Bryan Schreier4:57
So for those of us that aren't as disciplined, were you just born this way, or did your discipline evolve from somewhere? Can you help some of us understand how we might get started on the road to discipline?
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Mathilde Collin5:10
Yeah, I knew you would ask me this question, so I called my dad this weekend and I was like, 'Was I disciplined when I was a kid?' And he laughed. So I don't think I was at all. I think it took me some discipline to be disciplined. It was not required before, so I didn't do it. And then I understood how much of a requirement it was if you wanted to build a successful company.
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Bryan Schreier5:35
I find that discipline is contagious. In addition to the email that I get from you every week that you send out to your team on what your priorities are, we talk every single week, and without fail there's an email the day before about what Mathilde would like to talk about, which puts the onus on me to prepare myself. I have actually started doing the same thing with others. Have you found that your discipline approach is contagious throughout Front?
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Mathilde Collin5:59
For sure. Most of my direct reports do the same thing of sending an email at the beginning of the week with their priorities. I try to force them to take half a day a week outside of the office, in a coffee shop or at their place. I'm so convinced that it's the right thing to do when you can easily be overwhelmed with the amount of work and the conflicting parties that I try to force them.
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Bryan Schreier6:24
One of the examples of discipline that you gave is actually transparency, being very transparent with everyone how you're spending your time. Would you care to expand a bit on transparency in terms of your style as a leader and the culture at Front?
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Mathilde Collin6:40
Yeah. The first job that I took after college was in a company that was not transparent at all, and I wasn't happy. So I think that's the first time I realized I didn't know if transparency would lead to more happiness and efficiency, but I knew that no transparency would mean not happy, which I didn't want to experience. I was thinking about that, and I think there are two parts of my personality: one is I care a lot about human beings, and two is I care a lot about winning. I think transparency is this unique thing that can help you achieve both. There are two merits of transparency. One is efficiency: if people know what the priorities are, what's the context behind what they're doing, then you don't need to do as many meetings, and it makes them more effective. But also transparency builds trust. At Front, most people know everything about the business, and I feel like that's one of the reasons why they're happy to come to work every day. I can talk more about what it means for us to be transparent as a company if you want to, but you tell me and I will be disciplined.
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Bryan Schreier7:52
I mean, I think the audience would like to hear more about transparency. I would love to hear more about it because I think the fault that most people approach their work, maybe their lives in general, is to not be transparent with others. Often times even in personal relationships we put up this wall and maybe we're not as open as we could be. I find the same thing: if you actually start by default being open with people or trusting people, as opposed to start by default being closed and not trusting, life can just be a lot more efficient. So I would love to hear a bit more about how that plays out in a company.
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Mathilde Collin8:25
Sure. I think there are a few categories of things we're transparent about. One, we're super transparent with our customers. Our roadmap is public. You can go on front.com/roadmap and you'll see everything that we've built, everything we're currently building, and everything we're thinking about building. On transparency with customers, every time we have the slightest issue with email, it's always a big deal, so we always communicate and explain exactly what happened. Two, transparency with the team. Every single week we review all the metrics of the business. Every single month we send a report with everything you want to know about Front. Everyone knows what's our runway, how much we burn every month, what's our churn, what's our revenue growth. Everyone has access, thanks to Front, to all the customer feedback, good and bad. So people always know what they should be working on because they can know what's great and what's less great. One of the things that we do is whenever someone joins Front, they have to go through a radical candor training. At the end of this training, they need to be radically candid with someone in a good way and give some constructive feedback. That's a muscle that they build, and then they're more able to be transparent in their personal life and at work. There are a million other things that we're doing, but by default we try to share as much as possible with our employees, with our investors, and with our customers.
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Bryan Schreier10:04
And you're hiring quickly. So how do you find all these people out there who are somehow amazing at their jobs and they're also super high humility, and they come in and they're default transparent, default disciplined? Or is there an onboarding secret or two that you figured out as you've been scaling Front?
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Mathilde Collin10:23
I guess everyone is scared about transparency. It's the thing where it seems obvious that you should be transparent, and then when you're actually doing it, it's insanely hard. I can tell you that anytime I need to send an email to our customers saying we've had an outage, my first instinct is let's not do it. But you should force yourself to do it. To answer your question, whenever people join the team, there are a few things that we do. For example, our calendars are shared. You can see anything I'm doing anytime. One of the things that a few employees do is they share their inbox with their peers and their manager. On all these things, I can tell you that the first reaction of everyone is like, 'No way, are you crazy?' And then I'll tell them, first of all, you don't have to do it, but try it and you'll see if you see value. So yes, I try to find people that are inclined to like transparency and can deal with a lot of information, but it's also something that we need to train them on because it's never easy.
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Bryan Schreier11:33
I think I know that you give them a certain manual or a piece of reading when they come into the company.
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Mathilde Collin11:39
Yeah. We're actually publishing a book. The story of this book is there are a few metrics about Front that are unique. We have an internal NPS of 97, we have a lot of good reviews on Glassdoor. A lot of time people come to me and ask me how do you do it. The truth is it's my first company, so it's very hard for me to know what we're doing right and wrong. So we've reflected on everything we do at Front and we've written a book. We're publishing it I think today or tomorrow, can't remember. What we do is we explain exactly what our culture is. We have some values, but it's easy to have values. It's harder to know how you will live these values and what you do exactly in order to be a transparent company, a high standard company, a low ego company, a collaborative company. In this book, we describe exactly what it means for us and what are the concrete ways you can see we live our values.
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Bryan Schreier12:42
I actually got to see a draft. I'm not sure your team's so transparent that they figured they would just share the draft with me. They did, FYI. I would encourage everyone to read this. It's something I wish that I had even just very early on in my career because it really does help connect these principles in a way that I think can make companies perform a lot better, which is awesome. How about we shift gears a little bit and talk about your vision for Front? Maybe expand a little bit more on what Front does today and one of the things that got us so excited about the company, in addition to the team, is the ability to impact hundreds of millions or even a billion knowledge workers over time with what Front is capable of.
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Mathilde Collin13:28
Sure. Just so you know, before I go into what the vision is, the reason I started this company, as naive as it sounds, is because when I was a kid I was raised in France and most of the people in my family didn't make their job. I was a super happy kid and I didn't want to grow up and not enjoy what I would be doing every single day. So I wanted to create a company where I would be happy to come to work every day and hopefully other people would be happy to come to work every day. But I didn't know what I would work on. Then the first job I took after college was a software company. What I liked about software is the fact that you could build something that would impact how people work, and so you can have an influence on their happiness at work. I was using email to get work done and I felt like email was the thing that every single knowledge worker in the world is using and is also the only software that has not evolved in the past 15 years. Because part of me is very competitive and that seemed to be a super ambitious thing to do, I decided to start a company in that space. I think today what drives me and the reason why we're excited about working on an email product for teams is because first of all, when you think about where people spend their days, most of them spend their days in their inbox. So if you can create an experience that's different and better because it's collaborative, it's real time, it's integrated with the tools that you use so you don't have to switch tabs, then I feel like I have an impact on how people work because they spend many hours in our product. The second thing is no matter what you do, usually you will use email to get work done. So if you have a product that enables you to achieve more in less time, which is the promise of Front, then the impact of your work is better. So not only I have an impact on how people work because they use the product, but also because what they build will actually be built in a faster way and more efficient way, and hopefully the world will be a better place.
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Bryan Schreier15:36
Awesome. One of the things that we look for that is incredibly important to us is authenticity, that the idea for a company comes from a place that's very real in the founder's heart. When you hear Mathilde talk about her journey from even being a kid and wondering why people were unhappy at work to creating a piece of software that should benefit everybody at work over time, I think it gives a little bit of insight into both what we look for and what really kind of captured our imaginations when we first met. So as we start to wrap up here, is there anything else you'd like to leave the audience with? Any other learnings over the past few years starting Front?
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Mathilde Collin16:16
So many learnings. I don't know, I can tell you what I'm looking for when I'm hiring money from a VC, maybe they will be interested to do it. So I think the thing that I was looking for when I raised money was someone that would care because I want to make sure that no matter what happens we have a good relationship, but also someone that challenges me. Same thing, if I want to win, I know that I've never done it before and so I know that there is so much I don't know and I know that other people have seen much more than I've seen. I think Bryan was this combination of someone that cares and someone that challenges me. I think it's in every person that we hire at Front. We try to find these very empathetic people and thoughtful and caring, and at the same time very focused on performance.
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Bryan Schreier17:10
Well, thank you for that description. This has been an awesome chat. Hopefully you all got a little bit of an insight into what it's like to work with someone like Mathilde. If you're like me, I think that her leadership style and her authenticity is truly inspiring, and you can see why so many people want to join our company and why I think they'll have such an enormous impact on the world. So hopefully it was helpful to everyone, and wishing you all the greatest of success in building your companies as well.
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Mathilde Collin17:38
On the topic of transparency, I also like one thing. We're transparent with our customers and our employees, but I feel like I've learned most by having people like you sharing with the world what they've learned. So I also try to share as much as I can about our journey. It comes from sharing all our decks when we raise money, to sharing this book about how we build our culture, to sharing all our numbers. Next week I'm publishing a post about how we run all-hands because I feel like that's how I can give back all the things that have been given to me.
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Bryan Schreier18:13
Thank you for going above and beyond the huge task of just founding and leading a company and taking it upon yourself to help everybody's companies get better and for everyone to become stronger as a leader. Thanks for your time today.
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Mathilde Collin18:26
Pleasure. Thanks for your time as well. Thank you.