Peter Drucker's famous insight that "culture eats strategy for breakfast" resonates deeply within the business world. This perspective highlights the critical role culture plays in creating an environment conducive to success. Dave and I both appreciate how this mindset fosters ambition and establishes a solid foundation for long-term achievement.
Personally speaking, I had two defining experiences at two different, large companies that showed me the true value of culture. In one, the culture was neither explicit nor was it healthy; failure was not an option. While a tough and unforgiving culture may work at some firms and even be expected, it becomes problematic when employees are painted a false picture of the company culture during the hiring process or when company values are not made clear across its employees. In my second defining experience as the CEO and chairman of LPL Financial, I witnessed the power of a founder-led culture. When the company was formed back in 1989, founder Todd Robinson laid the groundwork for a culture that we lived many years after he retired.
With my experience at growing and mature companies and Dave’s experience as a serial entrepreneur and founder of DataSage, MIT’s first neural network AI company (sold for $1B), we knew while forming Vestigo Ventures that defining our core values was imperative for establishing a positive company culture and overall longterm success. Founders often sketch out a list of values in the early stages of their business, but consistently revisiting and adjusting these values over time must not be overlooked. Companies evolve, pivot, and grow, and what mattered at inception might shift as the business matures.
Recently, we revisited our core values and decided to share them to provide insight into our approach at Vestigo. Here’s our latest list:
Authenticity
We value transparency and candor, always assuming good intentions from one another. Healthy debate is encouraged—it's respectful, fun, and never personal.
Insights
In our business, we often make risky decisions with incomplete information. We utilize all available resources to generate data and actively listen to each other to find the best solutions. Our diverse perspectives ensure that the correct interpretation is usually within our team.
Velocity
Understanding the value of everyone's time, we respond with appropriate speed and set fair expectations for deliverables. This does not mean losing sight of our priorities or letting the latest issues control our agenda. We take our work seriously and recognize the privilege of doing what we do.
Learning
Continuous learning is fundamental at Vestigo. Whether acquiring new skills like SQL, staying informed about developments in DeFi, or exploring quantum computing, we encourage a culture of ongoing experimentation. Capturing and sharing new knowledge is crucial for the quality and longevity of our firm.
Collaboration
We are fortunate to work with a team of stellar individuals. While we recognize individual strengths and achievements, we believe true success lies in collective effort. Collaboration is at the heart of what we do; we strive to achieve together what would be unattainable alone.
Courage
Operating in a challenging, risk-taking environment requires courage. Building conviction around ideas, themes, or trends—especially in the face of contrary opinions both within and outside our organization—is essential.
Leadership
Initiative is celebrated at Vestigo. Proposing ideas to the team and taking ownership of their execution is actively encouraged. Never hesitate to lead.
We first articulated these values when we opened Vestigo in 2016 and regularly revisit them as a team. They have proven invaluable in guiding our decision-making and establishing a culture that thrives. Embracing these principles has allowed us to foster a culture that truly eats strategy for breakfast.
For startups, understanding and nurturing your culture can be a significant competitive advantage. Regularly revisiting and refining your core values ensures that your culture remains aligned with your evolving goals and challenges. By prioritizing culture, startups can create an environment that not only supports strategy but propels it forward. What are your startup's values?
