I was having breakfast recently with Andres, one of the founders of Fundera. If you don’t know them, Fundera run a great marketplace to help small businesses find loans. Anyway, we were chatting about our mutual focus on helping small business, when Andres told me about what he calls Fundera’s ‘Kumbaya factor’.
Every time Fundera helps a customer close a loan, the rep that helped them gathers all the team members around and tells them who they helped and what this funding will help the customer do. This goes way beyond just closing. In sharing these stories, Fundera’s team members are reinforcing their purpose. They’re reinforcing the impact that they’re having on small business.
I love this! Great people can work anywhere. And in today’s over-hyped and over-funded tech market, great people are more portable than ever. Turnover in the Valley in particular is at an all time high. It’s common practice for people to vest 1 year of options and one company, then move on to the next – building a portfolio of vested options. No loyalty.
Now, there are many factors that go into keeping your best people. But for me, a sense of purpose has to be one of them. We spend most of our waking hours at work. Personally, I want to use those for a purpose that resonates. And a purpose that does good. One of the reasons I joined FreshBooks is that, like Fundera, we are helping small businesses succeed.
If you don’t do this already, make your purpose/ mission a core part of how you recruit people and how you engage with them once they’re on board. Leverage your Kumbaya factor…