Leaders in Supply Chain and Logistics with Radu Palamariu

#18: Ed Clarke Co-Founder and CEO Yojee

July 02, 2018 Season 1 Episode 18
Leaders in Supply Chain and Logistics with Radu Palamariu
#18: Ed Clarke Co-Founder and CEO Yojee
Chapters
Leaders in Supply Chain and Logistics with Radu Palamariu
#18: Ed Clarke Co-Founder and CEO Yojee
Jul 02, 2018 Season 1 Episode 18
Radu Palamariu
Professional Australian football player, Co-Founder and Managing Director of Yojee, an exciting logistics technology company listed on the Australian Stock Exchange (ASX: YOJ).
Show Notes Transcript

Professional Australian football player, Co-Founder and Managing Director of Yojee, an exciting logistics technology company listed on the Australian Stock Exchange (ASX: YOJ) that has developed a technology platform that builds a solution to redefine the logistics industry and transform it to keep up with the e-commerce boom, utilizing the global sharing-economy concept. Ed is an experienced technology entrepreneur with extensive experience in taking innovative technology platforms to market in areas such as real-time communication, big data Marketing, and e-commerce.

Discover more details here.

Some of the highlights of the episode:

  • The story of Yojee.
  • What are the key clients that you work with?
  • How complicated and costly was the process of raising funding?
  • Is Blockchain going to transform the industry?
  • The inertia between enterprise and technology. How do you see large companies innovating?
  • What are some of the key messages you wish you could tell every logistics CEO?
  • How do you grow your team?

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Speaker 1:
0:02
Hello and welcome to the in supply chain podcast. I am your host throughout at Palomar you global logistics and supply chain practice head from Morgan Phillips cause I keep search specializing in the board level and executive search my joggers and sort of connect you with global experts, thought leaders and executives and all things supply chain. Uh, it is my pleasure to have with us today at ed is basically the a MD and CEO. Um, she has been in, uh, he has been a successful technology startup founder with extensive business growth sales and marketing experience. He was actually the VP of sales and marketing for Southeast Asians to about the Matic which is a leader now in on big data for eCommerce. Um, accompany basically that grew to have hundreds of companies in the region optimizing sales intelligence, technology. Uh, your GS is a very successful, we are looking forward to finding out more from Matt about his tunes entrepreneur, how he set up the company and some of his lessons. Ed, pleasure and, and then we're very glad to have you with us today. Thanks for having me. Are they very exciting? Super.
Speaker 1:
1:11
Angie, how it started. What are some of the key, the key achievements so far? And then just to just a little bit of history, you mentioned a little bit about, I started to think about what became the AGC spin to Los B commerce companies around the region. And it's just this constant that that was there improving mess out, but then didn't know how to improve their supply chains, how to get better, how to get things out to their costumes and just catch her caring and interfering in her care. So it just took a real interest in why, why is it so hard? And then most of us think supply chain is a simple thing. And, and when you look into it, it's a lot different to what I guess most people perceive it to be. It's not just the trackers to wear pink stuff and take it to another one has to, it gets delivered often.
Speaker 1:
2:05
There's a number of actors, a lot of information moving around. It's a very complex space. And so when we sort of started understanding what it actually means, what are the technologies in the space and what are the cool kids as I call them, start out and then doing and has that problem. They answered that Aussie from the eCommerce company. Uh, and when we really looked into it, we're seeing more kind of Uber for logistics modes at the time. They'd be the fine, everything is the, what's the trend in startup land? And really when you're looking at the value, they saw some bottles not helpful. So we really looked at what's being that and how do we solve these problems of that data that we have in eCommerce. So that in, in Indonesia, 70% of online purchases were outside of Japan and just about everyone was focused on last mile technology.
Speaker 1:
2:58
So you are creating a technology that doesn't serve 70% of the market. So we just took a big interest in that and we said, well, how do you let people go via technology to efficiency? Uh, and that's where we really sat down and looked at what technology was that for us. Two and a half, three years ago, the ion blockchain piece. So we identified that really to get people to work better together, we need to also understand businesses and how they operate in a much, much smarter way so that we can help them plan and optimize each individual business, which also may, may be, uh, individual actors in a movement of the globe that have to work together that historically had no information on each other and did not understand each other, didn't trust each other. And then at that trust-based tactic block chain, how do we track trust between parties, logistics, that money spent more exposed to people in the beginning, in the box, they paid them out.
Speaker 1:
3:51
We don't really trust anybody except ourselves, especially with information and this cost information address match. So we saw efficiencies to be gained through block chain and we're lucky enough to get staff on board. It was a very successful, uh, technologist is one of the first guys around the world, funded by banks, blockchain technology and is very successful. Uh, [inaudible] dot com which was one of Singapore private tickets. And so we, we started building and design what we wanted to put together. And ultimately the whole concept was collaborative networks. Not so much sharing economy. I chassis is one person working for a large entity. But how do groups create networks and work together and efficient networks starting to solve that problem. That's really what we'll look at. What's the fastest way to get something from one point to another where there's multiple participants involved in multiple warehouses?
Speaker 1:
4:50
Both. Um, and also how do you work better within your own business because everyone has got that cost crunch at the moment. The margins are tiny. So efficiency gaps are huge. And then that was the rule of the business. And tell us a little bit about the major milestones of the, of the company so far. Yes. We, we put the business together and raised a seed round with some private investors. We always felt that it'd be a good business stick type public. Um, we, we felt like that this is an industry logistics. People are not necessarily so involved with startups and excited about startups. That concept of, you know, there's this guys in that shit up there somewhere that would like to grow your business. I really want to know that you can be around for the next five years, 10 years. They want to know that you're a compliant business to a lot of trust for them to work with you. A lot of transparency. So we felt like also being in Southeast Asia, having, being able to go out to market as public companies with that report, it would be really that also we've had a really interesting thought groups that were interested in funding us for that. So we worked together on this project to type it through the Australian stock exchange as a [inaudible].
Speaker 1:
6:11
Uh, so that evokes, uh, get an advisory firm, which we'll find a listed entity to work with to then do an acquisition of you. Essentially you roll over into their listed entity and a majority of the shareholding so that then you can run your business out of the list of entities. So it's quite a, um, it's not a simple process context. You just have to be at understand and build it. What do you do? Where is it going? What are the milestones over the next few years? How will you be mentioned? So that was a, a good way for us to go in the first three or four months of starting that process. Obviously would agree to ride through that process of again, business very few staff. Um, we're allowed to do that, that placement, which really got us, maybe you've got us, um, beyond the, there's a big chasm I think in startup land of having to build a proof of concept of monetize it before you can raise proper money.
Speaker 1:
7:08
I think especially in Southeast Asia. So we could go on building a little last mile application goes straight towards this big blockchain AI platform, which now we're starting to find really interesting clients. So that was really great for my finance and operations perspective. But also from day one it really a strong discipline into our business around finances and accounting, which is K area that a lot of startups that on. I'm also planning looking at things like key personalities, looking at how, how you're building your team, how you're quoting you against objectives. And obviously it's very transparent business. So it helps us be very accountable and it helps us have access to water into capital markets. Yes. Yes.
Speaker 1:
7:58
Could the trajectory, how did you grow 50 ratio and maybe I think what would be interesting. Yes. So the first ones we sent me working with with SA line Paso, which is LA, who've got a very extensive possible network in Indonesia. Uh, now recently announced that we're doing work with a GPS, uh, DB Schenker across Australia. We're doing work with a company called C-level, just part of China's biggest logistics company. So there's lots of really exciting projects, a lot space. But I think also the, the SMA space for us is really exciting as well because this thousands or tens of thousands of companies there will be to digitize and get access to new where essentially everything based days runs off an IPO. If you don't have that IP, you can it to your business. It's very hard to get new of jobs from the marketplace. So digitize and logistics companies on the smaller scale is also very exciting for us as well.
Speaker 1:
9:21
A book of SMA guys trying to transform a business or start a new business, a digital technology in the logistic space. So very exciting. And where we see that support is that that's a very hot cost to building technology. And we had a belief early on that if you're going to be a logistics operator, a last mile company, you shouldn't be building your own technology because essentially 80% of it's the same company to company. Really, you should be focused on getting customers delivering jobs. And so we were going out to speak to these types of companies that are looking to be counted more techie in Amazon and help them stick to what they brought out and support and where their strengths are. Yes, yes.
Speaker 1:
10:13
I'm happy that you, um, you mentioned the story of, you know, going through the, through the stock. I think it's interesting because a lot of startups do go down that path. And, and as you said, I think for us as startups to understand that that's an option for them on one side and also, um, uh, thinking also that the fact that you need to get your processes, your finances comply basically. So it's almost like the rubber stamps, okay, this business is legit. All right, then you can, you can trust it early on. Uh, where is, and I think that's a magic challenge for a lot of startups that because they don't have to just as they grow, whether they, it's, it's a, it's a shitty foundation. So it's very interesting. Suicide, just the dream, but different to that point. And tell us a little bit maybe, uh, if there's any other lessons or our learnings about the company, the growing, anything else that you moved the share wall entrepreneurs?
Speaker 1:
11:26
Yeah, look, I think it is an interesting model. Obviously will work for some people. It might not work for others. But where, where it's really good is that, you know, we have a board of independent directors that are not necessarily there just to take your salary and be part of a growing company. They're there to represent shareholders and also to act in their role as director to ensure that they're doing everything they can to grow the company in the right direction. That this something where once a month I go and meet with them and give my opinions on what we should be doing. And their job is to challenge my, my position so that I've done all the appropriate steps to take that next, next step in something which, which you want to do because there's usually a cost, whether it's paper, whether it's money, whether it's all of these things.
Speaker 1:
12:14
So the idea that you become, you've regulated yourself as well with people that are independent, that have a reputation, that side of the business, that allows you to represent shareholders and support the business the best I can. And also, um, you know, obviously there's that legal aspect of it as well, which, which, you know, all of that would protest in a business. You have to build a business, although in your strategy and when you're a start up, and I'm sure there's lots of shiny balls and opportunities everywhere that you can go and chase after there's so many gaps, there's so many opportunities to try some technology that you're forced to really focus down on the ones that your you can be really good at and you can do and do a sustainable business. Also, it helps you have people that are not just yes people, but people that will challenge your positions.
Speaker 1:
13:04
Um, and then, you know, I think we've got access to but a much bigger platform to tell our story. So one of the hardest things to do as a small company is to be heard and be saying, get known about. So as a company working in Singapore, you sign a deal with ups or a hurt Depot, how do you get word out to people? You invest in Singapore except the [inaudible] you can kind of transcended press release. There's amazing platforms like techie, now you have to do a really good job of promoting companies. But how do you get to a wider audience? How do you get to the funds and institutions that are looking for the next business? So we have our platform where we go and release their information to, I think they can't be [inaudible]. I've got six thousand seven thousand shareholders. So that's a group of people that we can talk to on a regular basis and give them an update.
Speaker 1:
13:54
And you know, start up is I think 50% um, putting your head down and working really hard and it's 50% being able to explain that story to people and creating a sense of I guess excitement and opportunity around story where you're heading. And that's a really, it's a difficult thing which a lot of startups I think leave behind in terms of what is it that you're, the problem you're solving, where's the opportunity? And it's not the way get 1 cent of this billion dollar market, we're going to be worth X. It's, this is where, what it is focused on and this is how you can see us type of big steps forward. And you can say the exciting opportunities from the scout things based on data points along your journey. So we have constant ability to share our story with existing investors. We've just selling if that 6,000, but also to new funds who are looking for new opportunities to buy and liquid markets, which is exciting.
Speaker 1:
14:50
The other exciting thing is for staff is that they have access to a liquid, uh, employee share options plan. So many people go into power, businesses get some shares. At what point are you able to cash out on that, that up in a public knock that you do your time, you've got your shares once you leave, once you, uh, ratio, you know, cliff, when you can exercise your share options, then you have a liquid, shared and tradable market. So it's a really positive thing to offer people something that's real and tangible on top of this salary and that excitement around that public company. Um, and so those are really interesting areas where it's that big platform too often you think to employees of a new that people who are investing in public markets, they're looking for the next growth story and what better place there would be growth stories then Southeast Asia, then logistics and these are the areas that everyone's interested in.
Speaker 1:
15:48
Nothing. So it's a good class today. Absolutely. Absolutely. Personally being an entrepreneur, and I consider myself spinning, jumping around, and I think this is something that maybe comes to mind, maybe some other people's would, people will be wondering how complicated is it? Was it complicated to do the process on, on finishing? There was quite a bunch of paperwork to be done, but congregation and complexity and costs was really expensive, fairly affordable. It's a, it's an interesting one. Cost in a startup is, you know, it's got a lot of dimensions around its costs, about as, as money, you know, in a startup. So now if you look at the average time for a company to roll around in the private market, that could involve 50, 60% of the chief executives time for six months over a year. And so it's a different model, more to be part of by very structured, but then you have the ability to already be audited and presenting something that the um, the information so transparent and validated when you go out to best sort of the process of writing money is actually much faster. Um, all of the information for them to find about your companies, therefore them and they can find out just as much if they want to put out a couple of million to see if they want to buy shares.
Speaker 1:
17:17
So it does have an additional cost in terms of money, but it has a lot of statements in terms of time and efficiency and also the number different types of funds that you can speak to around the world would be interested in participating because it's on a regular platform, it's liquid and based types of things. So that certainly hasn't in some areas it's just a matter of would be your top of business and what you want to achieve. And one of the things I've learned across the three startups that I've been involved in the stone don't start a business unless you know where your sort of series a series B series say we're coming from and we want to come on the journey with you. I think it's very positive. Stop frame on scene, start to the queue first. Finding that, knowing where pathways, especially in this region where you know, it's not like Silicon Valley and a bit different. So you really have to know where that funding's gonna come from. A prepare your business and come and make them when you're ready.
Speaker 1:
18:19
Here's where we are now and let's type the next step. Excellent. Excellent points of the market. Based on what you're saying, it's not the, it's not the common part. It's not the common, but I mean I see this as a, as the less you sit down just because we do the funds and I know for a fact that they're very much looking for this very, I mean it's easy for them to take it to take a company that has already gone through the auditing process is already certified rather than you take all the risk and have to do it at the time. I mean, again, so thank you for sharing some of your thought to the next question.
Speaker 1:
19:27
Do you think block chains, I think this too much hype about blockchain, which makes it really difficult to navigate and there's lots of people standing up at conferences and talking about how it will change the world and all of its amazing things. But essentially blockchain gives you accountability and truth and immutable. So once it's there, you can't reverse engineer it. You can't change it. You can't go back before the time that hash on a block chain with put down and none of them got back and ended that and changes document documentary, something else that's a takes at that ability to change things and to do things behind the scenes that people would call illegal or immoral, inefficient. Um, so where it's going to be really good logistics and supply chain stuff, there's a lot of places where a lot of people are involved and by all the don't trust each other or shop.
Speaker 1:
20:28
So what that means is that I manufacture in a trucking company don't necessarily have trust that they're going to be the one who's going to pay the other and that one is going to do the job. That the other offs. So at block chain is that a widespread presence and history or both companies and Charlotte both have I will scientific patient process, whether it's your history or whether it's your history of jobs completed or not time. Um, whether it's um, that you've got all of your last and you, your bias and you're not your manufacturing from accredited warehouses. So they stop. Some things are really important. And where that's important is if I'm moving food across the world and now when I say it's organic and I would approve it, it went through all of the different uh, organic credited warehouses and followed the path from the end.
Speaker 1:
21:20
Whether it's California diamonds that are organic, they just sending it to ice and banging out of proof. And that's what do you ask me is that tracking through history and a lot of chance not be reversed. I think food medic medicine, luxury foods would be a huge growth area for block chain initially because it's very customer driven. Um, so that, that sort of of authentication, but then you look at, uh, you know, a company like a DB Schenker or mass and lots of documents flying around the world at any point in time. And it's not true. That's internal. It's actually saying it's lots of compliance past as a layer on top of that proving that someone signed off on this, the next step, the next step. And we say, I've heard statistics that the cost of moving a container that administrators spots. So there's documentation of strategy classes where light is very high and you're spending hours.
Speaker 1:
22:16
It was a blinding manifest customs clearance and narrow that down into contracts where everyone can interact with, but then you can't change it once every different actor in a spot attribute and authentic payer their part. And then that comes into one document which can be shared with costumes and other side and these types of things. So I think it will reduce a lot of the inefficiency in that surrounded status, trust and relationship. It's not going to change how people do things and it's not going to change at a technology level. What is your, um, to optimize your supply chain. But it would make it much more efficient to, to do that process
Speaker 2:
23:01
all the time.
Speaker 1:
23:04
Yeah.
Speaker 2:
23:07
So that brings us tie, where do the logistics and supply chain technology?
Speaker 1:
23:15
So I see a lot of presses coming through the market and it's more and more from both sides. So Allie bottles and things that have come very quickly and you can almost say, I don't know where at the sprayed that burns the saws that happened is not really examples of that through just completely changing the way market operates in such a short period of time. And I think brands and Schumanns didn't realize what that would be past and brands at company block guy, not you or someone else that's selling on a company like Amazon. Amazon might be selling it cheaper than than what they are saying. Well I want to try out because he's brilliant and they have access to so many more products. So a lot of brands lost control over their brands, control and logistics. And then you've got the garden in the middle that logistics companies trying to work out how does this work for us and the cost, the silo, things going and such microscopic skew level of Parasoft is being moved troops.
Speaker 1:
24:19
My supply chain, I have to work, I had to get to this on time. So you need to change pretty quickly to if you want to remain part of it. But also if you just want to be good at it, right? So people have been, now you start lead that do a lot of outsourcing. Contracting and visibility was something that was poor, but it wasn't that important because it would be in a container and pallet level and you could make a fun for pretty quick to get an answer. But now there's so many things maybe to send me, the customer wants to know what's going on, but that whole visibility, transparency piece is coming, becoming very important. So being able to get information immediately from your platform about where things are and also now you have to actually know before the point of failure that something's happening.
Speaker 1:
25:06
So you can advise and kid your customer service levels up. Your customer wants to be able to see real time coming. There's always stresses on supply chain. And then you've also got to offer things like to deliver the thing. So the technology's moving into this, you know, Uber life experience where you can't jump on, you can see where something is, you can quickly make a transaction, you can track it. You've got the history, the awkwardness of logistics companies. We've got real time data on their network. They can see if they're hitting overflow point where maybe that made more subcontractors, all of these things. So that's all about picking up fertility. And now to give you an example of that, but a customer that's a very large global express frightened me though. And they have that very strict SLA that comes with that, which they're obviously capable.
Speaker 1:
25:58
Then there was very big contract. Yeah. They work with a lot of, lot of subcontractors that do a lot of the workflow. And so then their problem is how do we make sure we make the SLA with people that we can see and we don't really know how much they even care about the destiny and where their business, the care. So then how do I get the visibility of my subcontractor network, how to help them work smarter. And so they went through a global tender and we ended up winning, but they essentially pushed jobs that subcontractors who are working on the same platform, if they weren't so they could maintain us tracking link visibility. The customer had the recipient. So you've got five, 10, 20, 30 subcontractors, the same platform. So essentially their extension up your technology platform without sharing your customer information or your database or your transaction history. So then you can collaborate secret as we call it. And so that's where I really see not just the technology themselves but how to get full visibility across their network. And just real quickly,
Speaker 2:
27:05
yes. I mean I think that, I think you hit the nail on the head and that's fundamentally one of the key if not the key issue or challenge that you know, if you're a shipper and sticking to the PSA to become much more good technology, um, visibility, predictability, having digital data in the first design does, that's fundamentally the fundamental foundation that most the somebodies really fundamentally don't have proper data, holiday panic, straight the data. But then on top of that. But that brings us to the next question because obviously it's almost like teaching to run like a horse goes, you haven't on the manufacturing side, large used to operating a certain way and you get all this in terms of enterprise technology adoption, how do you see this Ashlynn companies post this in the deck? It's really interesting because
Speaker 1:
28:27
you know, there is of this slow and often that can be, they don't want to be, all of them are very fair working really hard to innovate. And I'm sure you've spoken to local companies, they're very aggressive with the technology and trying to do things. Um, and there's a whole heap of various where they should be moving and moving and, and that's all defined by the customer. So in one such opportunity, you sort of touched them or you've got three POS, they're trying to find this space in the new marketplace where, where can a three PLO offer a lot of value to their customers? [inaudible] going to glow contractors or to marketplaces make styles of things, essentially their customers, they're also trying to protect it brand. If you're right, getting back to, if you're at a company that makes it alcohol, they want to customer experience as you know, is actually a be pliers in your country.
Speaker 1:
29:26
Moving things across by chain, but they can offer that intimate customers on that brand in your bat control lever and ecosystem that if you went to a market place you don't get. So the huge opportunities by consumer consumer writings and consumer acceptance, but also the paper to work with them. So those things like the innovation strategy projects that come when we talk to them sort of, you can say a lot of ideas about Intel efficiency doesn't seem to exotic things that their costs. And that's the first thing that, that's where we say that the movement's happening. Really. You can go on sale, 10 kilometers traveled. They say when a customer's really interested to see when you're sending shit through your network, they can sign on a digital, it's got your logo on it and then you can show your and change that customer that suddenly becomes very interesting assignment center authentication through a network.
Speaker 1:
30:32
So if you can offer a proud of the fact that you can shop that goes through blockchain China and it reduces the number of candidates itself. That's very interesting. So it's about, they're all looking to move where, where the customers are and then the customers will brush and people can say that Amazon, what's happening, your mom's trying to adapt to that new marketplace model. They're doing things like no market projects that big, big problems launching small projects to test out a problem. I think that's the best way to disrupt themselves following food technology, start using it and obviously there's a bit of it. It takes acceptance that's required to get the technology [inaudible] technology to understand thing and work with the customers. Let the customers define what the technology is going to do, let it float back as opposed to trying to push it down as a lot of stakeholders internally that will make things naturally, naturally slow no matter how fast you.
Speaker 2:
31:42
Excellent. All right. Then I would not name, but they're on a massive limitation. Um, on the successful side and on the positive side, I think more and more companies are realizing that 3:00 PM, there were a couple that kind of stuck with the fund to invest actually themselves into startups in Asia, trying to spot a new technologies back to your, they want to disrupt themselves, but they also recognize that you cannot just within yourself, I mean, you need to have a, uh, whilst optimizing the cost
Speaker 1:
32:42
and all that. The normal management, I'd probably say this much more than I do that the systems they have, whilst they might be hopes that they're not necessarily bad, you know, people love the systems they're working on. So there's that, I understand it and I lock it and I'm like, I might've been at the company for 20 years, 10 years now I know how this works. I'm comfortable to come and see the best system. And so I'd have a great, I need to move at an executive level. You've got calculus, these types of things that big system changes have a big cost to the business. In the short term while you adapt and evolve and testify on the basis they will. They think it's not just user experience, it's not just where you should be going, but there's that love sustaining what slows happening within businesses where and middle management and users in the warehouse accountable, they're trained to use the systems they have so it's that loving, really important.
Speaker 1:
33:44
So get into paper with that, can use it and test quickly and get their hands on a bachelor and try and break it, see how it helps them and then they into adopted. Okay. Like I said, this is actually better than what I had before and I'm enjoying using it. We always had in mind building our systems. I think that was part of planning, so essentially it's a mobile apps and where grassland you're off and running. You can do it with 1% of your plate, you know at 20% of your plate. You can do it with all your site depending on your model and how you want to test that within your business. Because at the diet, the SFA transformation across the business, especially for new technologies is it's much more difficult to doing so when people come back to the business and say, Hey, we just tried this and we love it and it's a much easier thing to discuss than we're proposing to do this to you. I mean this new technology.
Speaker 1:
34:42
So for me, I think it's, there's this Fairfax is something that Mark Zuckerberg said and then a lot of people rated that, but I think it gets to the opposite of that. Does this stop quickly, um, did that mock for projects and we're just talking about, you know, there has to be approvals, trawling new technologies, but security systems and things. But you should do that at micro projects, try things and come back to the web. I think it's a lot of the time, some of the paper with the best information about ago, I've seen the traps in the warehouses, getting those on the table, bring them in for workshop, for white boarding, working with, uh, the more agile technology first time, which is something we love to do. We, you know, we sit from all about companies. You sit with the dispatchers, essentially, they are the ones who Microfocus the project. Not to say letting people on the ground give you much more feedback, hoes lotions and then typing all of that. And so looking at what does the business need and what are they allow and what's gonna force adoption and internal disruption as we just mentioned about to vast spectrum, the people on the ground.
Speaker 2:
36:07
I mean the digital commerce and John's disease, one of the most, um, and now is this, you go on the back of the motorbike and deliver, went together with this guy's guys himself because he wants to be in the flow. He goes into that walls in the warehouse together with the team has made it as a, where he goes to one of the countries. But if you just, I think it's, it's, um, it's an inflammation from the people that they're actually involved in doing things you cannot rely on. There's a disconnect somewhere. I, you cannot be as,
Speaker 1:
36:59
um, accurate. What's the actual problem with the truck? Right, absolutely. Absolutely agree. I think it's a, it's an industry paper. We lost the level of data that occurs down on the ground. I think she missed that. The amount of planning and the amount of experience that goes into building these networks. Technology will never be a by SWAT people that worked out because they started out the truck driver backed up that then back down through the management environment. So it's an industry with so many unions, it's actually quite difficult to go to technology for it and understand what happens during the day. And that's one thing. I think it's really getting to the depths of it or how much you really have to understand your views. The difference between them having to take 30 seconds to complete a job in two seconds because I've got to get 200 jobs done in a day and these types of things. So it's really important to go down to the very data. They will look at things rough, right? Yes. Yeah.
Speaker 2:
38:04
I'm moving to the same one last couple of questions in terms of, you know, it people to any businesses. It's even more important I think to start off. Um, tell us a little bit some of the principles of, you know, how do you lie or how do you look up people? How do you grow your team?
Speaker 1:
38:22
Yeah. So we have taken a reasonably top down approach in hiring. Um, you know, in a startup you're always thinking about how things go. So how do you take this business to be taxed? And often we say PayPal might be one technology manager and then a lot of uh, inexperienced developers working on today, they build quickly, but that didn't think about how this platform will work when it's about 10 times out of 10 different types of use so that, you know, your environment and your product, people that build tanks underneath them, that can scale though if you need to go. So we've got some very experienced with this CTO, they pay them technology paper are building tanks to make them and then we can, yeah, those teams, smaller and smaller teams as we go out and expand. But we've always got that ability, what we're doing for the future.
Speaker 1:
39:20
So getting experienced people in that can run that department really well and do about their department as opposed to getting a couple of junior people that make the semi department and they're trying to con someone else, let it go. I'm not commenting on top and then essentially they usually find a path to do it top down approach where they can then do obtained and often move a lot faster as well. Do you consider yourself early on really didn't have enough to be advanced logistics industry is supply chain industry not to take them on head on really. I think that paper is still out of the drivers and we can't be what these guys, what we can do is make them more efficient and that's that's our call, so we really want to work with them. We want to help them, I guess transforming to an extent in terms of mood, digital or more digital houses, but also just helping them optimize their business, each technology, so sitting with them and looking at how they're doing it. Now I'm craving out technology to improve that business and bring what we have to go to. The smaller businesses give them much more access to markets and remove the real cross off of valuables and Salesforce instead of PayPal. They're much better off in the long.
Speaker 2:
40:42
Um, one other question goes. I obviously people walking in the office at 10 foot
Speaker 1:
40:48
on the wall
Speaker 2:
40:50
and, and you are responsible for the culture of your organization. Um, and I'll mention the first one. Talk with me. It's something to the extent of, you know, spend your money wisely. Don't go broke. Actually things don't go broke down the wall. Number one rule. Don't go broke. Very important. The rule, the innocent. How did you,
Speaker 1:
41:16
yeah, so before he stops, often you can think this is Greg train trying funding ahead of you and it's never provided a good business. You need to be able to do it. Every dollar counts. And I think about the money in my budget budget. Am I best as a trustee with to grow the business. So you have to watch, make sure that you're doing the best she can with every dollar given to execute the growth that I'm after and thereafter. Now timeless. So just always being humbling in what we have within the business and the money and making sure that you're not just wasting it. Um, one of the things we've done is we've really give him staff demonstrated the uh, the latest in that, so we don't necessarily come in very mean or low policy. Um, so it's just what you have to do when they stopped some things, but a lot of times the stuff that like that and then it'll kind of go for each other.
Speaker 1:
42:22
So I'm all about condoms 10, but essentially the fondant coach and back to the business group, we haven't seen anyone go, I see Matson money sitting on doing things I shouldn't be doing and supporting them to doing that and not necessarily try and lots of rules, regular stick of options. Let them feel a lot better. Trust you, trust them. And if you demonstrate to them that right out you for all of us and letting them make the best as things like that, then that feel of lost greater sense of responsibility. So I think that probably said no, almost go have to take a job with O side that you are invested with them. They're all excited about my company. So obviously you've had entrepreneurship back when you start, especially for the young people that are thinking maybe what would be maybe let's say you would shit, I think there's always going to be people that know more than you.
Speaker 1:
43:36
So it's finding as many of them as you can and asking as many questions and then trying to work 10 times harder than I do. Essentially it's all about how sacred this story is that God becoming you to call into a number of years and they've thought things but Bondo, they working long hours and not doing as much as I can. So mostly it's not as hard work. As I said before, it's about, I'll call it attacking from a defendable position. So never grow too fast. Always try and get to business and maybe mental changes inside. So consolidate G, bringing everybody to be done with our tech team throughout this year and time work really well before we get out and truncate. It's not just people good times before. I'm gonna say slowing down. That's really, it's not because smile, the systems of paperwork together just takes time. You just have to manage that growth and do it incrementally. Then just continually bring new people into the business. Yes. Thank you so much for being with us sharing this today.
Speaker 2:
45:14
Coral, are they listening to us talk? Why? Oh gee, we will also provide
Speaker 1:
45:21
the link to the website on the, on the podcast. Um,
Speaker 2:
45:26
uh, also feel free to, in case you're looking for a job or internship or something, funding LinkedIn. Who knows maybe that you checked out,
Speaker 1:
45:34
but they hired, um, and good luck. Uh, keep growing. Good luck, uh, in terms of attracting much, much more and more
Speaker 2:
45:45
bigger and bigger clients and I'm sure that in a couple of years, who knows, maybe
Speaker 3:
45:49
you'll be the best. Right. Thanks so much. Thank you for listening to our podcast. If you liked what you heard, be sure to follow us on Rapala mario.com/podcast for all the show notes, links and extra tips covered in the interview. Make sure also to subscribe to our emailing list to get the news in the Nick of time. If you're listening through a three in platform like iTunes or Stitcher and you like what we do, please kindly review and give us five stars so we can keep the energy flowing and get more people to find out about our podcast. I'm most active on LinkedIn, so do feel free to follow me to stay tuned for our latest articles as well as future guests for the podcast. And if you have any suggestions or any other idea, please feel free to write to me. I respond to all and also please make sure not to miss our next episode where we will be having a few other C level and top leaders in supply chain joining us. Stay tuned.
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