Reimagining An Industry: How Pure Storage Took A Different Approach to Storage | Summary and Q&A

TL;DR

A startup takes a fresh perspective on the storage industry, prioritizing innovation, culture fit, and customer partnerships.

Key Insights

• 🥺 Solving problems without being influenced by existing industry practices can lead to innovative solutions.
• 🤔 Hiring employees with diverse thinking and backgrounds can contribute to unique problem-solving approaches.
• 👻 Having a real product group within a start-up allows for faster delivery of products to customers.
• 💪 Prioritizing culture fit and a positive attitude in a CEO can drive growth and create a strong company culture.
• 💁 Openness and sharing of information can foster a more transparent and customer-friendly brand.
• 🍉 Building long-term partnerships with customers can differentiate a company in a competitive industry.
• ❓ Being different and less serious than established competitors can be refreshing to customers.

Transcript

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Questions & Answers

Q: How did the company approach solving problems in the storage industry differently?

The company had a clean perspective and solved problems without considering how others in the industry approached them, leading to unique solutions.

Q: What qualities were sought in the CEO during the start-up phase?

The CEO needed to be a great recruiting magnet, a culture fit, and capable of guiding the company from zero to a hundred million in revenue.

Q: What was the importance of having a real product group within the start-up?

The real product group focused on developing and delivering tangible products to customers, setting them apart from labs or research projects.

Q: How did the company prioritize openness and sharing of information?

The company believed in being open and sharing information to make logical decisions and create a culture that fosters understanding among employees.

Summary

In this video, the speaker talks about their experience starting a company in the storage industry and the importance of approaching problems with a fresh perspective. They discuss the qualities they looked for in a CEO and the importance of building a strong culture and product group within the startup. The speaker also emphasizes the company's focus on openness and their intention to build long-term partnerships with customers.

Questions & Answers

Q: What led you to start a different company in the storage industry?

We decided to start a different company in the storage industry because we felt that there were secrets being kept from us and we wanted to approach the industry with a clean perspective. We wanted to reimagine how storage should operate and create something that people would actually want to use.

Q: How did not knowing how others solved the problem impact your approach?

Not knowing how others solved the storage problem allowed us to focus solely on solving the problem in front of us. We didn't think about how others had done it before and instead, we approached it with fresh eyes. This led us to come up with innovative and different solutions.

Q: Has the storage problem been solved already?

The state of the storage industry was such that the problem hadn't been fully solved when we started. While the products in the industry had been around for a long time, they hadn't seen significant changes. People don't buy storage just for the sake of buying storage, they buy it because they want to achieve something else. Our goal is to make people dream and see the potential that storage brings to their lives.

Q: What qualities were you looking for in a CEO?

When looking for a CEO, we wanted someone who would be a great recruiting magnet, a culture fit, and someone who could help us grow from zero to a hundred million. We wanted someone we could learn from and who would positively contribute to the culture. It was also important that the CEO was willing to pitch in and work alongside the team, rather than just be a figurehead.

Q: What does it mean to have a real product group within a startup?

A real product group within a startup is not just a labs group or a skunkworks project. It is a parallel group that is focused on bringing a product into customers' hands within a set timeframe. It is distinct from an Innovation Lab because the goal is to develop a tangible product rather than just exploring new ideas. This approach allows us to expand the capabilities of the company without cannibalizing the current team.

Q: Why is openness and sharing of information important to the company culture?

Being open and sharing of information is at the root of our culture because it leads to more understandable and logical decisions. If everyone in the company has access to the same information, it allows for better collaboration and decision-making. This openness extends outside the company as well, as we believe in being transparent with customers and building long-term partnerships.

Q: How does your brand differ from competitors in the storage industry?

Our brand is friendlier and more approachable compared to our competitors. Most of our competitors strive to be serious and professional, but as a new company, we understand that it will take time to earn that level of seriousness. Our customers appreciate our refreshing approach and the fact that we don't try to cover anything up. We strive to be open and transparent, which extends to our brand and team character.

Q: How do you maintain a consumer-like approach in an enterprise-focused industry?

Despite operating in an enterprise-focused industry, we aim to build long-term partnerships with our customers and maintain an open and almost consumer-like approach. While our offering is not a flashy or sexy product like the competitors, we differentiate ourselves by being open, genuine, and committed to building strong relationships. We want to provide a product and experience that is refreshing to the customers.

Q: Do you see any potential for innovation in the storage industry?

Absolutely. While the storage industry may not be traditionally viewed as a hotbed of innovation, we believe that innovation can happen within a product line. We have been able to bring in a new team of talented individuals and expand the capabilities of the company without sacrificing the current team. This stage of innovation presents a powerful opportunity to push the boundaries and introduce new ideas to the industry.

Q: What is your vision for the future of storage?

Our vision for the future of storage is to continue building strong partnerships with our customers and deliver a product that truly meets their needs. We want to make storage more accessible and appealing to consumers, even if it is seen as a less exciting industry. We believe that by staying true to our brand, being open, and focusing on innovation, we can make a significant impact and potentially change the perception of storage.

Takeaways

In starting a new company in the storage industry, the speaker highlights the importance of approaching problems with a fresh perspective and not being confined by traditional solutions. They emphasize the qualities they looked for in a CEO, such as being a culture fit and a recruiting magnet. Creating a real product group within the startup ensures tangible results and allows for the expansion of capabilities without causing harm to the existing team. The company's commitment to openness, transparency, and building long-term partnerships sets them apart from competitors. Their brand is friendly and approachable, aiming to make storage more consumer-like and appealing. Despite being in an enterprise-focused industry, the speaker believes in the potential for innovation and envisions a future where storage is more accessible and exciting.

Summary & Key Takeaways

• The company started with a clean perspective on how the storage industry should operate, solving problems differently from established players.

• They sought employees who were smart, adaptable, and willing to learn, but also emphasized the importance of diversity in thinking.

• The company focused on creating a real product group, not just an innovation lab, to bring products to customers quickly and expand capabilities.