5 Valuable Concepts I Learned Working for a Multibillion-Dollar Firm

Plenty of entrepreneurs start a business so they can be
their own bosses, but there’s something to be said about
learning from world-class people. By working for an
industry-leading company, you get to see firsthand what
makes it so successful.
Before I started my own business, I spent time as an
investor at Bain Capital. During my years evaluating
investment opportunities, I observed how successful
leaders interacted with employees, pursued new
opportunities, contemplated customer satisfaction and
responded to challenges.
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I didn’t realize until later how valuable these experiences
would be to my own future endeavors, but these lessons
have stuck with me for years:
1. No business or idea is beyond saving.
At the core of Bain Capital’s success is its fearlessness
in taking chances and trying new ideas. It invests in
companies from a wealth of industries and finds
innovative ways to turn them into profitable enterprises .
This approach taught me to never accept someone
else’s word that something is worthless or beyond
repair. It’s possible to reinvent any business, industry or
idea into something profitable and successful with a
bold new approach.
2. Challenge your best people with
situations that scare them.
When I was 25, the company sent me on a solo
consulting job at a large portfolio company. I was
terrified and intimidated, but it turned out to be a great
learning experience.
By stretching beyond what I thought I was capable of, I
gained confidence and learned to bounce back from my
mistakes. It taught me that growth only happens when
you push people out of their comfort zones with new
roles and opportunities.
3. Be honest and transparent -- even when
the news isn’t good.
The best relationships -- in business and in life -- are
rooted in trust. Bain Capital’s senior leaders were always
completely candid with me, which encouraged me to
work harder and feel a deeper sense of ownership. Good
or bad, I was in the loop.
In every company, there will be times of prosperity and
unfortunate twists of fate. I learned that it’s crucial to
immediately share important news so employees can
collectively celebrate or pull together to brainstorm
solutions.
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4. Focus on the customer experience.
When I was at Bain Capital, I helped close an investment
in SquareTrade, a consumer electronics warranty
company. On the surface, it seemed like an unattractive
operating model. But the company had a base of loyal
customers and devout brand advocates. SquareTrade
ultimately profited by gaining new customers through its
excellent reputation and capitalizing on the poor
customer service of its competition.
Now that I run my own business, we focus first and
foremost on delivering an experience that delights our
clients and far exceeds their expectations. The rewards
are frequent repeat business, proactive referrals and viral
word of mouth.
5. Do your own research.
For each new or potential investment, Bain Capital
investigated how the end user interacted with the
business. If it was a restaurant chain, we ate there. If it
was a product, we bought it and used it. From calling
customer support lines to interviewing customers, we did
everything in-house to understand exactly what it was
like to be the customer.
I learned that there is no substitute for rigorous primary
research, and that means understanding the customer
experience inside and out. We founded HourlyNerd
because of the excessive bundling for very small needs
we all experienced at the hands of large consulting
firms. Now I make it a habit to be a customer first
because that information helps me identify weaknesses,
increase favorable actions and activities and create new
practices to better meet customer needs.
Big companies often get a bad rap, but it’s important to
pay attention to things big corporations do extremely
well. Working at Bain Capital allowed me to gain insight
into best-in-class operations and taught me several
valuable business lessons that any entrepreneur can
apply: Do your homework, focus on the customer and
empower your employees.