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Should we get started? Yi, ready to
roll? Everything's live. Welcome back to
another episode of the What It Takes
Podcast. Today we have Heshi Goldstein,
uh, one of the founders of Friday. So,
if you don't know Friday, you're
probably living in a cave, but Friday is
a payroll
company for small business to keep it
simple.
>> Kind of
>> kind of. So, that means your branding is
kind of okay. Uh-huh.
>> Um, you were seven years at Finger Check
helping thousands of business owners
navigate payroll chaos, compliance, and
all the headaches that nobody wants to
deal with. But instead of staying
comfortable, he took the leap, teamed up
with Pinis, Schwarz, Schiff, and Martin
Schwarz, and built a payroll tech
company from scratch designed for small
business owners who just want payroll to
be simple, fast, and human. We're going
to be talking today about his entire
entrepreneurial journey, why he walked
away from a secure paycheck, how do you
find your co-founders, the unfiltered
reality of building a tech company, the
challenges of being a boss, and what do
you think's that makes a truly great
employee? If you ever dreamed about
starting something on your own, or
you're curious what really happens
behind the scenes of a startup, you
better listen up. What's up?
>> Great intro. Thank you so much, Lily.
It's my pleasure to be here.
>> It's Chad GPT with instructions. It's
not just boom. It's it's it was still
great.
>> What What are your thoughts on AI?
>> I think AI is I heard someone say this.
I don't remember who. Um AI is going to
make the human
currency go up. Meaning what makes you
you, what makes you unique, what makes
you is going to go up because everything
else is just going to be able to do
>> more competitive
like the currency go up as in more
competitive.
>> No, meaning the person that could
express themselves fully in business
either in personal brand in business or
in personal relationships
his currency that is going to be very
valuable.
For example, look look at the movie
industry, right? Movie industry, it's
very hard to find a good movie today
versus 10 or 20 years ago. The main
reason is because the companies that
were driven by profits started going the
predictable route. Anybody can make can
follow the same story line and make a
movie,
>> right?
>> And it will bring in money. But what
makes a killer movie is when someone
takes a risk.
>> True. and they try to bring a story to
the screen for something that really
expresses something that wasn't hasn't
been expressed before and then that
thing blows up. Um, I think with AI,
anybody can open a podcast and everybody
can say something, but are you saying
what everybody else is saying or are you
saying what you really think?
>> Right?
>> And I think that
will and if you are able to tone in more
into yourself and express that, you'll
be able to cash out in the age of AI
because now AI becomes a tool, not a
resource. And it's usually quite
predictable in my line of work. Looking
at rums, I can usually differentiate an
AI resume versus a non AI resume. Um,
but talking about being your authentic
self and making that human capital or
the value go up, a few people that did
that became really wellknown and
successful. Think of like Charlie Kirk.
>> He had his values and he never veered
off to anything different. He believed
what he believed and that's what he
shared with the world.
>> Um, so I think it's very very true. I
like that.
>> How do you know?
>> It's a great assistant though.
>> Of course, it does a lot of great things
for you, but there still has to be the
you factor.
>> Meaning, if you're going to use a AI
bot, give me content ideas and start
shooting it. And you're just following
the script,
>> maybe you're going to get Yeah. No, but
if you are like, "No, I want to talk
about this and this is my opinion on
this topic." And then you give it to AI,
help me hook it, give me a hook, give me
an intro, give me an outro, and then you
play with it like, "This doesn't
resonate with me. This does resonate.
What took once two weeks could take you
an hour, a half hour.
Yeah. In that way. Yeah. But in that, in
other words, it will help you elevate
yourself, express yourself in a way
where um it makes it easier and for you
to express yourself and it makes it also
faster. Like for example, I'm now going
all in on content, right? Mhm.
>> It would have taken me either a couple
thousand dollars back in the day to hire
someone a social media company and
think of ideas how I'm going to do it.
With AI and the right tools, you take
out a phone, you start talking for two
hours. You drop it into AI and you tell
AI, give me what do you think the best
>> clip is.
>> Clips is give me 10 ideas. He gives you
the ideas and then you play with it. You
like it, you don't like it, but it's
still you. You were talking, not AI was
talking. So you can use AI as a tool but
AI is not the answer to all. It's my
opinion.
>> Very true. Very true. Um
so you started as a W2. No
>> started as a W2. Great story actually. I
went I got hired by my old boss to do
software development.
>> When where when was that?
>> Finger check.
>> You started off at Finger Check doing
what?
>> I started off there was a company called
Finger Tech,
>> right? which was um
a time clock company. We were importing
time clocks from Malaysia. They had
their own software and they were selling
it on Amazon. Was that your first role?
>> That was my first job.
>> My first job was doing retail actually.
I worked in a store for two and a for
two years, one and a half years. We were
selling mops and toilet accessories and
vanities, hardware,
>> decor.
>> It was all home decor.
>> I hated it.
>> Okay.
I didn't look at it as a job. I got
hired by a friend. Um just was like I
have this store and I need someone to be
there. I was my wife was still making
money.
>> For those listening and don't know what
China is.
>> Yeah.
>> The first year you get married.
>> Yeah. So it's like it was a part-time
job. I was from 11 or from 11 till 5 11
to 6 or 12 to 6. I don't remember.
>> I was basically sitting there and came
in like four or five customers a day and
I just had to help them show them what
they want to buy. four or five
customers. That sounds pretty quiet.
>> It was a very quiet store.
>> Would go out of my mind.
>> I did go out of my mind. Um I ended up
leaving that company. Um
>> two years later,
>> the main reason why I left was I had no
reason to leave. I was making $600 700 a
week going back 15 16 years ago. Uh was
was okay income. I had my freedom.
Um I was not motivated. I had no vision.
So my mother is someone that's a small
business owner. She has a store bar code
arcade
>> code. Okay. Arcade 13th Avenue.
>> On 13th Avenue. Yeah. So she's been in
business
>> years.
>> For years. And she's always push pushed
her kids to go for education which was
not very accepted back in the day coming
from Williamsburg. Right.
>> I have a sister that's a speech
therapist. I have a brother that's a
speech therapist. She sent uh two of my
brothers went to college to become
software developers. one of them is now
CTO on a big company. So she was pushing
me and as a I went to school for IT. I
went to school for programming
but I was never really I always like
technology. I love technology but I
never had the ADHD in me or never was
very very good at um
>> sitting and coding
>> sitting and coding. I was able to get
the basics. I know what an if statement
means or a variable is what a loop is
and what a database is and all of that
but I was never able to mish create
yesesh.
Um
I had a brother that pushed me very
strongly to he said he so interesting
story my brother was in was in school
for programming going back 25 years ago.
Back then there wasn't like um schools
that teach you in two months
programming. He went to college. He got
a degree and he was freshly married and
he needed a job.
And he found someone that was an Israeli
guy that he was a salesman. He used to
work for a company that sold um software
for um OBGYNS.
>> Okay.
>> And he needed a programmer to do that to
join the company.
>> Like a billing software
>> scheduling. No, it's the the developing
the software that runs the the sonograms
like it's
>> yeah complicated software. He worked for
a company was a successful salesman. he
want to open his own company, but he had
no clue about development.
And my brother's wife had a baby and he
needed to make pronuna. So he's like,
I'm in college. I want to become a
program. Let me see what's out there.
And somebody recommended him to that
guy. And that guy interviewed him. And
my brother didn't know crap. And he's
like, "How much do you want to make?"
And my brother said, "$600 for me." He
said, "Deal."
And my brother told me the story. He
went in.
30 grand a year, give or take. 28.
>> Yeah. Yeah. He was a beginner
>> and um
>> writing software. Yeah. So he was taking
over code from someone that has been
dealing with him. My brother's an
amateur, never wrote a real life code.
>> Okay.
>> Ever.
>> And he sat down and for weeks he he
tried calling the old programmer and
this guy was like, "Figure it out.
You're on your own."
>> Right. And he's just he's very smart
obviously and he's slowly but surely he
started reading started testing started
deleting started writing and before you
know it after a couple weeks couple
months he's the they started selling the
product and things picked up and then
they recently sold a couple years ago
for I think 20 $30 million.
>> Did he get a piece?
>> Uh no. He's a very W2 type. I had this
conversation with him a lot. But
>> the point is he was pushing me
constantly. Go for it. You'll learn.
Yeah.
>> Go for development.
>> Go for devel. How do you think I
learned? I sat down and I just tried
then break and failed.
>> But he can probably learn how to like
you. Does he have ADHD?
>> I don't think so.
>> Okay. So,
>> I don't like to use ADHD as a as a as
>> I think it's a superpower, honestly.
>> I don't know what it is, but uh it to me
I tell you what it is. It's for me it's
out of control. It's you want to take
control of your life. You don't want to
do what somebody else tells you to do or
something that you don't find
interesting. So you constantly trying to
figure out a way. For example, even me
now here,
>> I'm it's uncomfortable for me to sit
here and being grilled
>> and being asked questions. I've never
been in a fun time.
>> We're having I'm having a fun time. But
the reality is there are part there are
parts of me that just want to
>> do something else now. So what do I do?
Take water. You move the chair. You play
with your fingers, right?
>> And uh
>> Yeah. See, maybe we should get fidget
spinners for the for the future guests
that have ADHD. No,
>> but uh anyway, so he was pushing me very
very strongly. So I got this interview
by Finger. He was looking for So he was
looking for someone to do customer
service, but also someone that can help
him build out his new program called
Finger Check. Finger Check didn't exist
then, but he was working behind the
scenes
>> which was what a better software
>> than Time like
>> Yeah. So his original the the time clock
that sold was Windowsbased time and back
in the day I don't know if you remember
we used to have programs on computers.
You double clicked something and it
opened up the program. So he wanted to
create a more powerful more better and
advanced program. It's going to be web
based cloud-based that back then that
was the thing. Everything's going on the
cloud. It's funny to think back right
now everything's on the cloud.
Um
in any case so I went out for an
interview. I told him I went to school
for programming. I don't know much, but
I'm willing to learn.
>> He He sent me a message. You're not
getting the job.
>> It's not for you.
>> I was actually I'm looking for someone
with more experience. I was sitting next
to my brother then in the car. My
brother said, "Tell him to try you for 3
months. No minimum wage. Tell him to try
you and after three months, if he
doesn't like you, he can send you away."
And that's what I did. I remember
sitting in the car like, "I just got
rejected. What do you mean?" Right? But
I did it.
I remember when it was I was diving
shakers 10:00 he called me up and he's
like you got the job. I what change? He
says listen you showed an attitude.
You're willing to work hard. You're
willing to try.
I think I'm going to take that risk on
you. And that's what I did. So I got
hired and I started working there. And
guess what? I sucked.
>> What was the role?
>> So I started customer service. I need to
help customers troubleshoot tech tech
support. Troubleshoot issues with the
program with the clock. It was
>> finger tech software.
>> Finger tech software. So they had two
customer service reps. I will be the
third first learn the product
>> and the hardware came from Malaysia.
>> Yes.
>> Cool.
>> Um and that's what I did.
Um I sucked which means is
>> But did you enjoy it?
>> I was so I remember thinking a couple
things. So first of all it was a very
busy office. like it stimulating.
>> It's a bootstrap company. There was no
>> that
bootstrap meaning you hire the people
when you mummish have the extra money
which means you're already drowning. So
the boss was literally picking up phone
calls and doing customer service calls
the whole day
>> and then he had to train me which there
was no time no space. was doing growth
>> sales
>> so there was a sales
>> there was a sales team
>> u that was doing growth but there was
bootstrapped and bootstrapped
>> what were they doing in revenue figure
tech
>> um I don't know if I can share that
>> no like was it a small business to five
or five to 10 10
>> it was a small small company
>> how many employees
>> uh we had like uh two customer support
one sales rep it was me and the CEO
>> small very very small we worked out of
office smaller than strong.
>> Wow.
>> Yeah.
>> Okay.
>> We were really we were building and
grinding building a company from the
ground up. It was a real real grind.
Looking back, it was the best experience
I could have had. It's like it was a
blessing.
>> But back then it was very hard. I was
coming in, nobody was talking to me.
Nobody was training me and I just it's
my first real job in an office coming in
my vital telescope, my flip phone. First
thing my boss looked at me, it's like
you you got to tighten up. I started
tightening up. But I was sitting there
listening into calls trying to help
customers and I just wasn't getting it.
I was not understanding how things work,
how to fix things. And I remember
thinking then, listen, there's some
things that are out of my control,
there's some things that are in my
control. The things that are out of my
control is how fast I understand and how
good I I can be. Things are in my
control is showing up on time, putting
in the effort. No matter what, I was
there in the office every day. 8:45. It
was a 9 to6 job. 8:45 I was there every
day and by the way that held that went
on for years probably
>> until you left
>> not till I left I would say by the time
I left we had 50 employees and I was
director of client services was
completely
>> different situation and also came mostly
on time but if I had an appointment for
example I remember having my
brother-in-law got married and I
finished the wedding at 4:00 a.m. 8:45 I
was in the office and I worked the full
day. No excuses.
That was my mentality.
>> Weddings that end at 4:00 a.m. is a
different a different conversation for a
different time.
>> It's also 10 years ago weddings end at
>> even today at two. Like people have a
job like be a little considerate
>> to be honest. I don't know if it ended
at 4:00. It might have ended at 2, but I
went to sleep at 4:00 till they get home
till you put the kids.
>> It's a lot. And then you're driving home
and you're so tired.
I I had a friend who usually these
weddings would take long and end 2 3
4:00 in the morning. He ended it at
11:00.
>> I love that
>> the meal bench mitans then dancing.
>> Listen, I always say I don't know always
say when I start marrying off there's
going to be so I don't know I can't do
whatever I want but if that's the excuse
but it would be up to me. I would start
it early. Small int. I just had my
brother-in-law get married. Second
marriage.
>> Okay.
>> And I was like, I think second marriage
weddings are much more fun than first
marriage.
>> How?
>> First of all, it's more intimate.
>> Okay. It's smaller crowd.
>> Smaller crowd. It's more intimate. So
only people that want to be there be
there are there. If somebody does want,
he he can get excuses. Second marriage.
I don't have to come. Ends up being a
very
>> How many people showed up?
>> I would say maybe 150 people. 100. I
don't know. I don't know.
>> People as in both sides like men and
women. Right. The men was probably 100
people, I would say. That's very cozy.
Very cozy. It was a beautiful wedding.
Had good music. Leaper was rocking the
house and we all enjoyed ourselves. And
And when you're close to the wedding,
it's not like second cousin.
>> What time do you go to bed?
>> I don't know. I don't remember.
>> But you had a good time.
>> Had a had a blast. Like I don't I don't
see the whole first you come the
pictures from 2 p.m. And there's this
whole mat. And I don't know. I
personally would love to make small cozy
weddings.
>> I think it's more intimate, but there's
a kala the teenagers, they want to have
a million friends and want the whole
class, the whole grade to come. So,
>> it's probably it's probably not
realistic.
>> Parents want cozy in the actual
>> So, yeah, you have to.
>> Anyways, so going back to
>> where were we?
>> Going back to my job.
>> Yeah.
>> So, I wasn't getting it. So, I was
focusing on those things. I remember
also thinking and this is something I
still use till today. I remember
thinking, remember your humble
beginnings. Remember how it feels to
start a new job, not knowing, not
getting the support, feeling all lost,
being afraid that at any minute you can
you can lose everything, you can get
kicked out. Remember the feeling. How
long did it take for you to start
picking stuff up? So, this is what
happened after 3 months. Um my boss went
on vacation
and my boss told me that afterwards that
on that vacation he discussed with that
he's coming back he's firing her she
it's not going anywhere
>> right
>> what ended up happening because the
reason why I didn't pick it up I was
simply afraid I had my boss sitting
right next to me like this
>> and then I had my manager sitting right
next to me so so I I was afraid to make
a mistake I was afraid to try the second
he went on vacation and the manager
didn't here some month. I was able to
mess up. I started messing up. I started
taking calls. I started doing and slowly
but surely I started getting things. He
came back from vacation. The vacation
took was 4 days from Wednesday to
Monday. He came back ready to fire me.
He saw a different person and from there
>> I soon became a manager and I just
started paying Cub level two support. I
started I didn't end up I didn't end up
doing the software development part
because I was helping him in product
design and testing. I did a little bit
developing. I I I was writing all the
reports but I was more um in the front
front lines and and helping the
customer. Yeah. Customer facing.
>> It was
an amazing turnaround. And uh yeah, so
fast forward I I worked there for nine
years. So two years was just finger
techch and then 2013 is when finger
check was launched.
>> Did they close down finger techch?
>> I don't know. I think it still exists. I
still I think
>> but finger check gets the time clocks
from where?
>> So I think finger techch sells to finger
check
>> to finger check. Yeah. Finger techch
still has a separate software a separate
company. I believe
>> finger check is a full-on payroll
company.
>> Yes. At this point it's a fullon human
doing human capital management.
>> And what was your
career path from when you started doing
level one entry-le tech support to when
you left? What was it?
>> So it started like level one tech
support, then I became level two tech
support and then I became the manager of
customer service. I started having two
or three people working under me.
>> Were was it your responsibility to hire
them or someone else hired them? You
just needed to make sure the job got
done.
>> Once I became manager became my
responsibility to hire them.
>> Okay.
>> Yes. And I I I had a very good boss that
let me mess up. I I was able to make a
lot of mistakes. How long did it take
for you to get promoted to manager?
>> Uh, I would say maybe two years.
>> That skill of being responsible to hire
people as a manager. That's true
managerial skills.
Um, it turned out I'm a natural at it.
I'm a natural at people. It's my
strength.
>> People enjoy working for you.
>> People enjoy working me and I understand
what people want and I'm good at
communicating with them. And
>> you'd probably be a very good therapist.
I probably would. I actually am. I'm not
a therapist, but I I help.
>> A manager becomes one of sorts.
>> First of all, yes, that's basically your
number one job.
Um, but I at this point I do a a little
bit business coaching. I do business
coaching on the side. Um, also an
interesting story when I started Friday
was really really tight to money.
We were hustling. We were grinding back
in the day.
>> Great example of tight on money. Tight
of money means that
>> I know what it means.
>> Electricity being threatened to cut off.
House being threatened to go on
foreclosure. Having like really really
tight credit cards all maxed out.
>> Sheesh.
>> Um not knowing what how you going to buy
your next grocery order.
>> Wow.
>> Um tuition going after
>> What about your partners?
>> So everybody had their
>> own struggles
>> own struggles in different ways. Some
some people had a wife's working. My
wife had a business that she make 250k
and she closed it down.
>> When when you started
>> well basically that same time
>> you should have waited till you start
>> closed it down. That's a separate story.
>> Um and rightfully so it ended up being
great a good thing.
>> Um so I was tight of money and back in
the day we didn't have sales people. So
it was me my two cuckoo founders. She
went down to the show. We hustled
we hustled the show. We spoke to people.
We were out there. And after the show, I
get a call from someone, someone that
knows me that I met in the show, and
he's like, "You guys' energy are
electric. I I I was by your booth and
you changed my whole way perspective."
So, first of all, the way I go to shows,
and this could be good for your
listeners as well. Um, when you go to
show, everybody comes with the same
purpose. Everybody wants to sell.
Everybody wants to sell. So, the worst
thing you can do is sell. What you have
to present yourself as a consumer. You
meet someone, say, "Hey, what's your
name?" To the crowds. Hi, my name is
Harishi. What do you do?
I do recruiting. So, what are you trying
to accomplish in by the show? Trying to
see if I can find Sure. So, who's your
typical customer? Oh, I'm a small
business. I'm not. I am. You have a
conversation. You basically let him
empty his and then you stay quiet.
Usually what happens? So, what do you
do?
>> That's your window because right now
he's not on the fence. You're not trying
to sell him anything.
>> And I was giving this piece of advice to
that person in the show. Just a random
guy.
>> Who taught you this piece of advice? I
told you I'm good with people.
It's the truth is today with content you
hear so many you consume so much you
don't know
>> who told you what powerful
>> sometimes you consume um content from
somewhere else and you think it's your
own idea. I don't know but intuitively I
learned and I was giving this piece of
advice that guy was having a new
business and he felt a little bit
insecure like you know it's a new
business you're not yet one with your
business that's confidence
>> the confidence and he wasn't sure he has
a good product and I was asking him
what's going on he was telling me so I
was telling him this what you do go out
there just talk it's a numbers game talk
to many people and just listen and then
if they ask you you go you you start
selling yourself
>> only if they ask big thing for people
listening. Don't start rambling if no
one asked.
>> Correct. Anyways, he called me up the
next day. He wants me to be my business
coach charge. Now, normally I would say
I'm not a business coach. I'm a business
owner. I have my own thing. But I was so
desperate for money and I gave him my
price.
>> Can you share?
>> Uh, sure. I I told him I'll charge you
250,000
uh session. I wasn't focused on the
hour.
And
still to this day, he called me last
week uh a win that he had. He's not my
client anymore, right?
>> But he we're still in touch and he
constantly tells me how much I helped
him, which introduced me because what
happened was is I had my first session.
>> Yeah.
>> I finished a switch went off in my brain
and I was like, "Wow, I'm really good at
this." Not only am I good at this, this
is actually the number one key to my all
successes. and finger check how I grew
in Friday
working with partners or with investors
like there's a lot of dynamic a lot of
moving pieces
this is something that I'm good at
listening to a person understanding
what's really bothering him and solving
that problem and essentially I'm a CEO
but I'm really what I am as a coach he
started referring me other customers and
people started hearing right now this is
actually part of my day people call me
what do you think of this what do you
think of that question part of your
consult ing correct quick questions. I
don't charge. I love helping a a person
comes with a problem and I'm able to see
it from the outside and give him a
perspective and then it clicks and it
lands. There's nothing better than it's
like ah
>> it's the best feeling. It gives me
energy to go respond to my email or the
issue like it's it's highest and plus
>> when you want to help a business owner
when when he needs to goofund me when
when this or you want to help him giving
advice giving something from you is also
a form of it's actually sometimes even
more
>> because you're you're actually you're
teaching him how to fish you're not just
giving him a fish you know so that's
something I do and that's something I
learned in my old job there was a lot of
different dynamics things that um we had
to get along. But o overall it was a
great great education. Now going back to
your question, why did I leave? It's
funny. I was a W2 pro. I was on the fan
of being a W2 employee all your life.
>> What were you making when you left?
>> Uh 250
with bonuses.
>> 250 included bonuses or did not
>> including bonuses.
>> After nine years.
>> After 9 and a half years. The formula I
usually use, you probably know this
better than me,
>> but when someone asks me what what
should I earn blah blah blah how much
should I expect? I want to ask for a
raise or first job, you start at about
$50,000 a year. 50 maybe 60 and every
year you go up about five or 10,000 a
five or 10% if you're staying in the
company. If you leave, figure 10 to 15%
bump.
What are your thoughts? Since you're
this is your business, you could
probably run a report and see the
average
raise. I don't know. Um I never looked
at those numbers. It never interest me.
The way I see I look at raises is how
much value you providing.
>> If I spend on you
if I spend on you $100,000 a year, you
need to be able to provide me
>> at least 10 times that.
>> 10 that's what I try to do. Not to
>> I don't know what the standards is. I'm
telling you the way the way I look at
it.
>> But how do you
>> three to four?
>> How do you figure that for a bookkeeper
who's not bringing in revenue? How do
you figure that out for a customer
service person? They're not tied to
bottom line growth.
>> Everything is tied to bottom line
growth.
>> A soft developer, how you
>> removed maybe it's three steps removed,
but it's tied
>> a salesperson.
>> Very simple. A customer service rep has
a value. How much would my how much
would I pay to make sure my the
customers there how much customers can
he help? How much are those customers
paying me?
>> Gotcha.
>> Everything everything is tied to to
value and that's where it boils down.
And
It could be 10x is an exaggeration,
right? Uh it might not be 10x but the
point is there's amount this amount of
I'm spending 100 how much you want. So
think about you make any real estate
investment, right? You're spending you
want ROI. It's the same
>> concept. Then there's other factors and
there's that and then there's the
factors how much peace of mind is he
giving you because peace of mind
that has a completely different value
for Elon Musk peace of mind is a
completely different thing than my peace
of mind right
>> because what how do you value yourself
how do you look at yourself how
so that's also a factor so [snorts] if
you want to get a raise think about
money first like what value you provide
and then think about you know what let's
say you're a frontliner customer service
which I cost. So maybe technically in
the beginning I shouldn't have only
made60 $70,000 but what I was doing I
was freeing up all the time for my boss
because before I was um before I took
over he was doing everything I was doing
and all of a sudden now he can develop
his new product now he can put in time
software developer my old boss was a
software developer and he was able to
build I think he recently sold $100
million empire so that's worth
>> finger check sold
>> finger check sold I think for over 100
million I don't know exact number.
>> Oh, wa.
>> Yeah.
>> Juicy number.
>> Yes.
>> It's crazy.
>> It's beautiful. And I I
>> Who bought it?
>> A hedge fun.
>> Some some uh Yeah, some capital company.
>> And they're going to I guess bring it to
all their other clients.
>> I don't know. I don't know exactly uh
how what their plan is, but yeah, they
want to grow it. They want to grow it
probably to be a billion dollar company.
>> Wow. What's your old boss gonna do? Sit
on KLO? Is he working on his next
startup?
I don't know what he's going to do, but
I can tell you this much. Um,
there's always something to do if you
there's always somewhere you can make an
impact depending where you are in life.
Now, I don't know what what what's his
journey, but
money in my opinion
is not for
happiness or to accomplish something.
It's for greater experiences, greater
expression, and it's for growth. It's
like you want to be the person that
could hold 100 million back again. Like
you want to be able to be that person,
be humble enough to hold that and not to
overtake you. At the same time,
you also want to be courageous enough to
use it in the right places. And then
it's also for experiences. There's
certain experiences and you you can't
have when you're not making
a certain amount of money. with that
there's there's a cap like say once you
make I don't know what the number let's
say
>> 50 million 100 million how far can you
go with your experiences
>> meaning there's only the the the world
experiences is limit it's limited it's
not limitless it's like the world has a
square footage it's like there's only so
many things you can do
>> after you have your own ship
>> crash jet
>> yeah so that
>> and your chef So it's a little maybe the
first couple of million it expands and
you experience it
>> but growth and impact is where it's at
because you're in every person's has
infinite amount of
impact and power that he has within
himself
and that's limitless. The reason I was
asking is because um there's a media
company called Morning Brew and one of
the founders is Alex Lieberman. He's
pretty active content creator on
LinkedIn.
>> Okay. And he wrote that after Morning
Brew sold
40 million or seven, I don't even
remember a decent number. He had an
identity crisis because his whole
identity was Morning Brew. Now he sold
it. He's not involved anymore. He walked
away with a nice check, but it took a
very very long time for him to get back
into entrepreneur mode, start creating
things, create a new business, figure
out a pro a solution to a problem. But
till then he struggle like oh wow okay I
sold but now what sitting at cluting
>> right so I asked myself this question
actually last week I was I take walks
now I take I stopped smoking for sure
this year
>> why
>> the real reason
>> my wife and kids were up my my kids were
like
>> driving me crazy
>> avoiding me like I just swallow them
cigarettes and I couldn't blame them and
I was like so what what the hell am I
doing so
>> it's still hard to no not smoke.
>> I read the book, the Alan Carr book.
>> I've heard about it
>> and um
essentially he teaches you how to
there's a lot of components to it. One
of components is that you're not really
enjoying a cigarette which is kind of
brainwashing and there's some truth to
it like the whole thing that you take in
a cigarette is you are have a perceived
um imagination of pleasure meaning when
everybody has the story of the first
cigarette like I was a teenager meaning
you felt insecure you felt like things
are changing things are happening and
you wanted to take control of the
situation what did you do took a couple
bucks back then it was $5 you went to
buy a pack of cigarettes and now now you
control or you wanted to fit in. So what
you're going is for that control. You're
going to take control of your life. It's
it's not actual pleasure. So once you
feel that take that away, now it's a
fight of control. Who's in control? So
he says
you can't win this fight by being a
stronger fighter by saying no, I'm in
control because it's going to come out
somewhere else. It's it's going to
express itself somewhere else. rather
rewire your brain. Instead of saying
instead of your brain saying I want a
cigarette, I want a cigarette. You when
when that feeling or that thought comes
up, you rewire it. Hey, I'm a free man.
I don't need a cigarette. I'm a free
man. And it actually works. It worked
for me.
>> Um
there's still new situation that can
come up where I can feel I need a
cigarette and I just have to think those
positive thoughts and usually goes away.
>> That's very nice. I like that.
>> I smoked for 20 years,
>> maybe longer. I don't know. I started
when I was 14, 15.
>> Wow.
>> 36.
>> Yeah.
>> Yeah. 20 22 years.
>> Wild.
>> Uh, more. Yeah. 22 years. Sorry.
>> Anyways, the point is and uh I stopped
smoking so I started taking long walks.
I really enjoy my walks. It's the best
thing I come out. I finish my walks and
I have a open mind. And
>> how long do you walk for?
>> Usually an hour.
>> Quiet streets or busy streets?
>> There's a trail next to my house and
>> morning and afternoon when do you walk?
So in the beginning I used to started
doing the lunch time but I I
>> you went home or you work from home.
>> So my office and I don't work from home
but it's all in one area. It's like 3
minutes with the car. I live in New
City.
It's a beautiful place by the way guys.
Stay in my new city is where it's at.
>> Is where it's at.
>> Now we is where it's at. Okay. Anyway,
so you you start walking.
>> I start walking and I was asking myself
this question. So I have this thing. I'm
building Friday. the goal from Friday is
to build a multi-billion dollar company.
I'm like, what the hell? Why? Why do you
need that? You know,
so it's a long answer. I ended up
writing uh like a 13 anime moments, my
own an like belief system. What what are
my belief system that drives me to do
that? Uh I can show it to you later.
It's not it's not completed. I feel like
there's still missing components, but
basically in short, you don't choose
what you want.
You don't get to choose what you truly
want. It chooses you. Hashem puts in
your desire in you.
And if you want it, that means that he
wants you to pursue it. And that journey
pursu and that journey that you're going
on to pursue this is something that you
have to go on and learn and grow and
change and evolve and be or you can use
language in the or whatever that is
>> right
>> and that's all that's all that there is.
It's not like when you reach it you will
be more happier. It's just opposite the
place that you feel you want it and just
going after it you already already makes
you happier. sitting here with you and
talking about it.
I'm I'm feeling it right now.
>> Give me one of them.
>> So, the first one is obviously I believe
there's a God.
I believe Hashem made this world to give
us all the good that we desire and way
more. I believe that Hashem placed my
desires inside of me so I know what he
wants me to go after. And that pursuit
is good for me. I believe I make a
difference to him, to my wife, to my
kids, family, friends, partners,
employees, clients, and community.
Um, there's a couple more. I believe
there are infinite ways to build wealth.
You know what? I'll read you all of
them.
>> Let me see.
Oh, this is a long list.
>> It's 13.
>> Oh, it's
>> I started writing down a few. Then I was
like I was like, let me match it to the
Rams mountains. Let me try to find 13.
And then
>> I have a the mill not the million-dollar
question, but the 250 plus bonus
question. Why in the world would you
give up such a cushy job to
>> to put yourself in a position where oh,
how am I going to pay my bills? Now I
need to cover payroll for my employees.
Why in the world would you do that?
>> I don't know.
>> What happened? What were the triggers?
>> There was a couple triggers. First of
all,
um I I'm a builder by nature. I like to
build.
>> I like to create. I like the scale. Not
only 0ero to one, even 1 to 10. I like
when there's something to look forward
to, when there's when there's a
challenge. Yeah, that's what I do.
>> And finger check, at least when I was
there at at that point, the company was
doing great. It was growing. It was
plateauing. Everything I didn't I came
into the office.
>> No more challenges.
>> I didn't know what to do. I literally
[sighs]
I didn't have much to do. I was the
there was the CEO and then there was me.
I was the number two guy to the CEO at
least in operations. There was also
sales, there was development
and I reported to the CEO. I was running
a company 50 employees. I didn't find it
challenging anymore and I was miserable.
>> For how long?
>> I would say that was for two years.
>> Whoa.
>> There was ups and downs. I couldn't walk
away. What am I doing? Where am I going?
>> Right. Well, to a competitor.
>> I wasn't.
>> That's why you're making money.
>> I was making okay money. I was
comfortable at my job. I had a good
relationship with my boss and my my
co-workers. I was in control,
>> right?
>> There was no reason for me to leave, but
I was miserable.
Um,
>> so what'd you do?
>> What ended up happening, Hashem put in
this in my boss and he told me right
away it was where my wife wanted to make
me a surprise. She wanted to take me on
vacation from Wednesday till Monday was
my anniversary or my birthday. I was
born on Christmas. So was was my
birthday and um so she asked him and he
said no.
He he still doesn't know why he said no.
It was a mistake. He made a mistake.
>> That was a mistake. That was the
>> that was and I heard about that and I
was like what? I'm going to be work I
working for 10 years. How am I how am I
going to look when I'm going to be 40?
I'm going to be marrying off my kids and
I'm going I'm not a slave.
Two days later, I gave notice. Walked
away. No plan.
>> No, but this didn't happen over two.
This is two years of
>> true
>> being bored.
>> Yeah.
>> That was the final straw.
>> Okay. You quit. Do you have any idea
what you're going to do?
>> I didn't have ideas. No. I had My
father-in-law had a such a good story.
>> My father-in-law had a business. First
of all, my wife worked. So my wife had a
business that was income.
>> Um
my father-in-law has a
>> But then you went on the vacation.
>> Then I went on the vacation. I went to
Amsterdam. It was traumatic vacation.
>> I had CO on the education and my wife
had an emergency surgery in the
education.
>> What in the world? Over four days.
>> Over four days.
>> Maybe it's a there's a reason why you
both said no. I don't know.
>> So there's a reason for everything.
Question only is how it's going to come
out. How it's going to express itself.
Um,
>> so what happened? You quit. You go home.
You're relaxed. You're enjoying your
>> Kaneka. I remember it was Kaneka. It's
the last day from Kaneka. I still have
the test. You don't understand. I was me
and the company. We were one. I There
was no life me outside the company. I
worked there for 10 years. This was my
shuma. I was gent everything. I built
myself up. I learned so much. I made
relationships. It was everything. I
couldn't see myself walking away. But it
had to come from such a place where I
had to go away. Um and I gave notice.
I I remember shivering like this. It's
like I couldn't believe
>> in person or an email
>> in person. I went told him I want to
talk to you.
He was also shocked. We were both we
were both shocked at the same time. like
it ended up being a great thing for him
because he ended up hiring a whole
professional team right after I left and
they started and got as as they were
getting ready to sell his company and if
I would have been there it would have
probably been hard because at the same
time I don't have the skills that right
>> uh you know and and they need to figure
out so now it was was great um but uh
yeah it was ended up I told him I'm here
for you whatever you need tell me how
much notice you didn't have any plans
anyway so tell me how much notice you
want says uh if you can give me 3 months
I said no problem you got it I'll stay
there for 3 months
>> notice
>> stay there for 3 months he hired someone
else
and I was I helped train in
>> and then I walked away then co hit which
was a blessing
>> whoa that's a long time ago
>> that's a long co hit which was great
because nobody worked nobody had money
and I was just one of them so there was
unemployment checks there was all the
different type BPPS and everything else.
>> And
>> how did you what did you do to not be
get become bored?
>> I was quite depressed
>> for how long?
>> Two and a half three years I was very
depressed.
>> Yeah.
>> How are you not dead?
Like how are you still alive? Like
depression is something that's very hard
to deal with. And for such a long time
>> the whole time. No, I wasn't depressed
the whole time but I was I didn't
>> out of a job. So it was a wakeup call. I
did a lot of different things throughout
throughout I wasn't out of a job this
whole time. So what happened was was co
then co started fa fading out and I
started doing was like you know what I'm
going to do business consulting.
So where do I start? I figured let me go
to other payroll companies and tell them
I can help them. Let's see what I can
help them in anyway. So I went to a guy
incubate which you all CEO of CHS
payroll a great guy
>> and I asked him
>> how how can I help he's like yes I have
I'm I'm serving one sector I want to
start serving a different sector there's
this product that I want to implement I
don't have anyone in my office who want
to come in we agreed on a price shook
hands a nine-month project it's like
okay we're going to make some money
>> were you happy with the money
>> I was happy with the money at the time
That's um I started doing that
>> was full-time in office for 9 months.
>> No, I was not in a full-time job. I came
in whenever it went by goals. I finished
a certain part. I got a certain amount
of money and I finished it very quick
because I was been been doing this. It's
my industry.
One thing led to another was their
salesperson. And
>> he was there when you started working
with them.
>> He was there when you started working
with them. He was doing great. I
remember meeting him the first day and
we right away hit it all. And it was
chemistry right away. And um
I remember thinking this guy's a genius.
This guy's selling a product. I I'm
coming from Finger Check and I know
their product. Finger Check is back then
was 10x product. I don't know what
they're selling now. CHS. I'm sure they
have a very good product right now, but
at that time
um I was comparing and I was seeing this
guy selling and selling and selling and
marketing himself. Back then, nobody
wasn't doing videos, LinkedIn. He was
courageous.
>> You know what I could do with such a
guy? Finger check. You know how much how
much we can grow. It's like my brain was
going. We developed very and I told him
I told him I'm really impressed with
you. I think he can do crazy things.
That opened some type of energy and he
was like, "Yeah, I can do crazy things."
And then one day he calls me up. I think
uh I think I want to I want to one day
see myself doing a company together with
you. because I told him I I didn't have
any major plans. I didn't know where I
was going. I my brain already started
thinking maybe I'm opening up my own
thing. That's this is what I know. This
is what I could. And I had my niche with
small businesses. Coming from finger
check, I knew exactly what small
businesses want and where this opening
the market, but I wasn't sure if I want
to go back into where I come from. Then
one one conversation led to another
conversation and we decided we're going
to open up our own company. It wasn't
called our first name was Payday, but it
was trademark. We couldn't use that. We
needed to find a
>> I love the name Friday. As someone who
appreciates marketing, it's such a good
name.
>> It is a great name.
It's not our credit,
>> but the website is Friday app. No.
>> Yeah, I could I can get Friday.com for a
couple million dollars.
>> Yes. One day.
>> One day, man.
>> Who owns it now?
>> Want to hear something? Maybe. Maybe
not. One day. You don't have to have the
perfect URL to build a multi-million
dollar company.
>> That is true.
>> You don't have to.
>> But if you can extra, it's
>> feels amazing.
>> It's good. It's good.
>> Like the website Blackbird has taken.
Blackbird recruiting is a long domain. I
don't like it. It is what it is. Or
maybe the initials BBR.
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>> I remember Pas at CHS. I went to visit
him once in the office of Williamsburg.
Cool joint. Um.
Yeah. So you guys started talking.
Yes. So we built a great relationship
and then we were like, okay, we have
sales and marketing now. We have
operations and vision. We have me. We
need someone to that can build product.
Sorry. Bleep that out.
>> Yeah, bleep that out.
So, we uh went on the HUD. We spoke to a
lot of different people.
>> Martin, what's his Hebrew name?
He's actually my first cousin, my wife's
first cousin.
>> What happens if you need to fire him?
>> Uh, he knows that. That was our first
conversation.
>> That would be a very interesting dynamic
at the family weddings.
>> So, the truth is
yes and no. Because if I would have a
very close relationship before that, I
wouldn't have gotten into we
>> you're not giving up a lot. Got it.
>> I didn't have a close relationship with
him. I knew him. He's my cousin. Like
I'm meet him three times a year, but
that's that's about it. But I had a
conversation with him. He was building
custom softwares himself. He had his own
small software studio with his
developers and was building a lot of
different products.
>> He had his own business.
>> Had his own business.
>> Cool.
>> He closed his business. He joined
Friday.
>> Wow.
>> I sold him the vision. Yeah. It was one
of the greatest bets I took. He in the
beginning of a company, you need a kind
of a jack of all trades. You need
someone that can do that many hats and
need someone that can solve problems.
You need someone that can do
infrastructure. You need someone that
can do design.
>> You don't want
>> it's basically a team what a
professional or a setup company has 10
people and you need one person to be
able to do and I was able and you need
someone that's quick.
>> Yeah. that's going to do it fast because
if you get
>> in tech especially
>> and he did our MVP in two weeks from
when we started writing our first call
to we had our first customer was two
weeks.
>> What do you mean till you had your first
customer?
>> Till I had my first
>> when when did you decide
what was the process? Because many
people think you just get a friend,
start a business together. Uh-uh. Big
no. No. Call a lawyer. Write up a proper
partnership agreement.
>> Yes.
big I mean get take care of all the
headaches first before they actually
come up. So we first agreed on the
>> How long was this process these
conversations and meeting with
and talking to Pin until you know let's
do this let's call a lawyer let's figure
this out how long when I mean give me a
timeline
>> I would say around 6 months
>> from when you and started chatting
>> yeah until we finalized and started
actually working towards towards
building Friday it was a lot of it took
probably six months that we were able to
just start writing, start doing
anything,
>> right?
>> And I miss those those early days. It's
still early, by the way. I'm still
experiencing I I consider myself very
early in the game as far as the journey
of Friday and myself. Um try to remind
myself that all the time. Um but yeah,
there was a lot of you know, when you
start out something, you have a vision,
which is a lot of people get scared of
the word vision. It's basically the
idea. How do you want things to be
>> right?
you're doing this because you have this
imagination. People are going to love
it. And and it's beautiful. It's
beautiful. And and the more time you can
spend in it, the better because at some
point you get pushed into reality where
you have to deal with day-to-day,
>> right?
>> And if you didn't spend enough time on
your vision,
>> you start forgetting why you're doing
it,
>> right?
>> Why are you doing what you're doing?
>> And I encourage everyone to ask ask them
the question and I do that sometime with
my clients like why are you doing what
you're doing? And there's always an
answer. People think there's people
don't ask a question because they think
there's no answer. What do you mean I
need to make money?
>> What's your why?
>> There's infinite ways to make money,
>> right?
>> Go rob the bank.
>> There's there's infinite ways you're
doing what you're doing for specific
reasons.
>> Um,
>> so six months was about conversations.
>> Yeah. We didn't we sat with lawyers, we
sat with other founders, we sat with
investors. We
>> Why did you say no to other founders?
>> Um,
guess what? One of the co-founders
potential was my brother. I felt like uh
I sat in the meeting and he tells me
it's going to take you
around a year to get your product which
makes sense. We want a full-fledged
product, right? It take me around a
year. Sorry.
>> Uh-uh. Next.
>> Close second was two months,
>> right?
>> And that's what we did. We built stuff
very, very, very fast.
>> How'd you find your first customer? Who
was your
>> first customer? It was drum roll
my wife.
>> She had she had a business. She had four
or five employees and she started using
my my product. My actual first paying
>> how does it work? What's the structure?
Like $7 8 an employee per month.
>> $9 an employee per month for time
tracking only. So we first built the
time tracking part and then we build
payroll. So actually fun story. We
started out, we had a partner that's
going to do our taxes and our banking.
Every payroll company, unless you're
very big, uh, has partners that or third
party softwares that they use in the
back end just to run the back end to
make payments to the IRS and agency. So,
we we decided to go with someone
>> and
they were like, okay, great. We signed
contract and all all of that and we
spent
four four to six weeks to build out our
product. We had a full functioning
payroll product. It wasn't perfect.
>> And the last that was to show it to
their team.
>> To whose team?
>> To our partners team to show them show
them our product. We were startup. We
showed it to them
>> and
they didn't like it.
>> Why?
>> They didn't tell us um why they didn't
like it. They they just told us we
decided we're not going with startups.
It's not in our model right now. So we
have to take six weeks of work. We had a
product ready to launch. We have to wipe
it out off the shelf. Where are we going
from there? So first we have to find a
new partner.
So that so we ran away said listen
whatever it is we always wanted to have
in our vision time tracking. How long is
it going to take you to build time
tracking? Two weeks. Let's go for that.
In the meantime, I will figure out
>> the different partners. It's going to
take me time to find the new partner,
check with them, figure out the product.
>> Is it an account? When you say partner,
like an accounting firm?
>> It's not like an accounting firm is a
partner for a regular business. Payroll
companies have
>> um partners that help them submit um tax
payments. A bank, you need a banking
partner. It's just like a credit card
processing to move the money.
>> Unless you want to become a bank, you
sell. You want to get a financial
license, which at a startup, that's a
very big cost. Eventually when you when
you become bigger it it kind of makes
sense because it it's a lot of hard cost
that comes to that
>> right very cool.
>> So we had to
>> that was a waste of time.
>> It wasn't a waste of time. It was a
great great great learning experience.
Yeah. All these things were our learning
experience.
>> Went with a partner ended up being a
terrible partner. Terrible partner. Um,
in the beginning it wasn't such an issue
but clients started getting notices and
we we did everything we can. We covered
things from out of pocket but end of the
day the that partner
had a malfunction in there and so we had
a crisis basically a year into the
business. We had around 200 customers or
two years into the business but 200
customers still relatively a small
company.
Uh we we debit it back clients are
calling us up that nobody's getting the
money. All employees are waiting for the
money. Like what do you mean they're not
getting? We call up our partner. There's
nobody to talk to. They're saying that
their bank that they're using that the
bank that
that the bank CEO is not answering
basically for a week.
>> This is a small business. This
partnership this part
>> they were also a startup.
Um they've raised $30 million. She
thought they were pretty much legit and
they were legit and
>> I I don't believe in the leadership. I
think the leadership was terrible and
the way they communicated,
>> but basically for a whole week certain
people didn't get paid and while the
money was drawn from the for the
company's bank account.
>> So think about think about a business
where I don't know how long we were
maybe a year maybe two years into
business.
>> The whole business is still like this
and is like calling me that's it. We're
going out of business. We're going out
of business. Like, listen, nothing is
putting us out of business. Nothing is
putting us out of business.
And we
>> How many clients didn't get their money?
Didn't have many clients where the
employees didn't get paid.
>> There was most of our clients were
smaller clients. I would say around 100
to 200 employees didn't get paid.
>> Wow.
>> Yeah. Around 200 employees didn't get
paid.
>> A real like crisis for a small business.
>> This was a crisis. I still have
>> How did you deal with it?
>> This is very interesting. First of all,
I I don't know. I got higher powers
that allowed me to deal with this. So,
Pas first of all was on the phone with
every customer. Tell them, "Listen, this
is the communication that we're having
right now. We don't know. We're trying
to work with a different partner. We had
our operations
>> transparency,
>> huh? Transparency was on the call. He
was taking the bullets firsthand. I was
working on the back end working trying
to find different partners, different
solutions. We ended up
>> Where was the money?"
>> So, first of all, we had we had two
problems. Where's the money? I said,
"Well, we can't let other people process
payroll with his back." Like, uh, we
don't know what's going to happen. We
need to find the solution. People need
to process payroll.
>> So, we ended up uh, shout out to what's
their name, Amandra,
PC Payroll. I think they have a new
name, right? Right now, it's a repair
company. So, one of my employees used to
work there. Called up his like can can
you do us a favor? Can you hook us up?
>> Can we use your bank?
>> Right.
>> He's like, yes. So, we just sent him a
file. He he did the regular pile no
charge for a couple days, two three
days, no charge. People got the money.
Nobody knew anything because not all
companies got affected. Only people that
processed.
>> So that was taken care of. Now we needed
to find a new partner.
>> Now we were not happy with that partner
that we were using for a long time. But
to make a change, like I said, just like
to quit a job, it's a big thing. It's
it's programming. It's hours and hours
of
>> setting up an integration and it's a lot
of different components and a lot of
different things
>> that
we estimate it's going to take us around
3 to four months to make a switch and we
have just have to find the time
>> really
>> but because there's a crisis within two
weeks
>> boom
>> boom we knocked it out
>> so it was a good thing the best thing it
was the best thing
>> and I have a recording where I'm uh Pas
recorded this where I was having a
FaceTime with the team it was Friday,
Friday on Friday [laughter]
and I was telling them I don't remember
telling them tell I don't remember
saying these things but I guess I was in
it. I was telling them listen everything
that happens is only
to take us to a better place. Hashem
only sends good things to us.
>> Okay.
>> Anyways and um and that's that's what I
truly believe. I can't see it but I know
it's good. I know it's good. I know it's
good. That was the best thing. We need
to get away from that company fast. They
still exist, but they pivoted into a
different industry.
>> I wonder why.
>> Yeah. Hashem
were here today. Yeah. Close over close
to,200 customers.
>> Customers or employees?
>> Companies. Employees. Much more.
>> 1200 companies.
>> You launched a business what three years
ago?
very bad with these gauges. Around three
and a half years ago, I would say it
depends when you start counting, right?
When I wrote the partnership, when I
opened the LLC, when I launched my first
time training product, my payroll
product like
>> when your wife when you got your first
customer because that was two weeks
after you started writing code,
>> right?
>> So, how long ago was that?
>> I think it was in 2022. End of
>> get investors,
>> of course.
>> For what?
for
>> hire more developers? Like what do you
like what do you need?
>> No, I I raised money initially at
>> what to pay your salary
>> to pay I had two developers.
>> Okay.
>> I needed a small salary. Yeah. Me me me
me me me me me me me me me me me me me
me me me me me me me me me me me me and
my partners.
>> Um
just hard costs off.
>> So whoever invested hopefully it will be
the best investment they ever did.
>> It will be their best investment ever.
>> Just they have to be patient.
>> Yeah. Are they involved in the business?
>> Um no they they're in touch with me. I
talk to them if they they call me I send
emails every quarter investor investor
updates but yeah no
>> they're not
>> I took a lot of small checks from a lot
of people I have like 10 15 people
investor
>> the biggest check is 250k
the smallest check is 50k so
>> love that
>> was a hustle was a lot of fun I met a
lot of great people
>> lot of you ever do that again that whole
grind
>> I would so I made a big mistake if
anybody watching wants to raise money
don't do what I did So what I did was I
went out, sold my vision, met 10 people,
got five checks, stopped raising money,
went to build my company,
>> and went again to raise.
>> I saw the bank accounts low, went again
to raise the worst thing. Why?
Because there's always stages. There's
reasons why you raise money, right? So
in this stage, the reason is I'm
building a company. So what are you
selling? You're selling a vision.
So a vision is one there's one way of
selling that. And then there's a
>> people call that a seed round. No,
>> a seed round. preede
>> when you sell the vision you want to be
in the vision the second you already
have results and it's always results are
different than the actual vision now
they start question now now it's not
exciting anymore in other words now it's
okay so you have 10 customers I'll come
when you have 20 I come
I thought that when I'll come to so look
what I did in two months I built a
product in two weeks I built a product
in five weeks I got this amount customer
in three months and six months and that
will excite But it's opposite. It's
opposite. You come, you sell your
vision, people need to buy into the
vision. Then you raise your round day
where you show them that you were able
to execute part one of your vision. You
need to execute part two and you need
more money. You in other words, don't
raising money is a full-time job. It's a
three-month full-time job. Meeting
people.
>> How'd you figure out how much to give up
the investors?
>> So,
>> because you've never done that.
>> So, I spoke to a lot of different
founders. Shout out to Mushi Bear Taitam
that you know Cherry he's been a big
um guinea coach. He helped me a lot.
>> I did a lot of research and I also knew
what I wanted. I knew I knew what at
least what I think what what where I
want the company to be.
>> How much did you end up raising? $2
million.
>> We ended up raising $1.5 million.
>> That lasted you I guess now you're up
and running.
>> Now we're Yeah. Now we're more or less
profitable
>> until you took your first paycheck from
the business. not investors
that you're able to like
>> like uh profits we're still not taking
>> no I guess you start taking paychecks
from day one because otherwise it won't
be able to work correct we took patience
from day one we still are not taking any
profits on the company and we're not
planning to take any profits in their
time the goals are just too big for that
>> and we're really focusing on making the
simplest and easiest to use product out
there for small businesses
>> I'mma will be very successful with that
>> how is the sales team now
>> we We have four sales people plus
>> we have three customer service, two
developers, three partners.
>> Love it.
>> And then we have also outsourced team
like for back and stuff like in the
Philippines.
>> What's the hardest part about working
with your founders?
>> What do you disagree on the most?
>> So it's a very very good question.
I guess the hardest part working with
founders is surrendering.
Compromising or surrendering?
>> Surrendering, not compromising. I hate
compromise. Compromise like
what do you believe in? You never
compromise.
>> For example,
um,
I love you very much, but we're going to
talk about you. Is a great guy, right?
>> Lay him down until him's
a great guy because has been building up
Friday, hustling, signing up clients,
right? But there's still for example one
of the visions originally for Friday was
that P is going to do become a content
creator become an influencer on
Instagram on LinkedIn and YouTube but
that never developed for right reasons
right because he was busy he was
focusing on whatever whatever the case
>> surrender to us surrender to it like
it's going to get there we're going to
get there right now that's why I'm
sitting here like I decided you know
what it's time one of the reasons why
you take a partner is you want to share
responsibilities.
Um, but one of the reasons why I took a
partner back in the day was because I
was simply afraid to do what does. I
didn't think I can do it like he does it
and I still don't think I can. I think
he can do way better. But I'm the CEO of
the company, the buck stops by me and I
have to do what it takes out of the
that's what we'll do. We'll we'll start
creating content and we'll be
successful. hopefully he'll get inspired
and we'll start doing it as well.
Leading by example. Um, and that's just
one small example. And the same thing
goes for them. Like they wanted certain
things, let's say operations to run a
certain way and they need to surrender.
So that's the hardest part. And at the
same time, I would say for me it's
harder because again, I'm not not in
their shoes. I'm not trying to say I
have a harder job. What I'm just trying
to say is as a CEO of a company, the
Bucks SPO, there's no such a thing. You
can't say oh well but I do my investors
did this or my partner did this my buck
stops by you you take full ownership of
this company no matter what of its
successes and its failures no matter
whose fault it is.
So
how can you surrender? The question
becomes like how what do you mean you
surrender?
The answer is if there's no proper way
for you to go about the next step in a
way where you don't hurt someone, in a
way where you don't scream and in a way
where you we don't do unethical things,
you just don't do it. You surrender and
things will work out.
>> That's that's hard because I like to
take control of stuff.
>> I hear that.
>> What's one thing you learned about
internal relationships in the startup?
Because you have to move very very
quickly. Do you only hire people who can
move fast or rather
if you have two candidates? Someone's
fast but not super diligent or
let me give an example.
>> Ask you a question. I let me answer that
question. Ever were a backseat driver.
You're a kid, little kid, and you were
going through the mountains and you were
constantly asking, "Daddy, where do when
are we arriving? When are we arriving?"
It was the longest way.
>> No, but I know what you're referring.
You know what? Because your kids are
doing it. [laughter]
Exactly.
So, and then you have where you're
you're a driver and you're constantly
busy. You're focusing on other things.
Oh, look what we can see here. Look what
we see. Oh, you take a nap and all of a
sudden you're there.
>> I think that's same when it comes to
startup and speed. The constantly you're
watching like when are we getting there?
When are we getting we can do faster the
slower everything looks and the more
depressing you become.
So of course you have to have speed and
things have to move fast and if you see
something is not going fast enough you
should point it out and we constantly do
point that out but at the same time
again surrender
enjoy the process certain things take
time
>> right
>> certain things takes time and having
that in the culture where no no we have
to do it becomes taxy becomes terrible
and your product is not good enough so
how do you balance that you make
timelines
and then you step step away. Usually you
don't you don't meet the timelines. So
you make a new timeline. And obviously
if you see this like we constantly not
meeting expectations, you have a talk
with that employee. You have a talk with
that department
um and constantly motivate. But you have
to take a step back. You have to let go.
You have to let go. And all of a sudden
things start popping up,
>> right?
>> And then you're like when did we make
all of that? Like for example the sales
team that's not so devolved in product
development like wow we have this
already for me I'm in it I'm working
with them it's like well working this so
learning to have the bird's eye vision
on not only on the future of the company
but also in the current moment and
staying present I think that's that's
what real speed means that's where it's
at now many business owners know that
having a bad employee could could be a
terrible investment you're losing money.
It's It's really It's bad in a startup.
Hiring the right people is crucial. How
do you make sure you're doing it right?
>> There's no such thing as a bad employee.
There's only a bad CEO.
>> Someone who's not sh there's toxic
employees.
>> Then you shouldn't be an employee
anymore
>> or
>> So, how what do you what is your process
to make sure you're hiring the right
people that are helping you meet your
goals for your business?
>> The best way to make sure you hire the
right people is by firing the right
people.
>> Huh?
>> Yeah. Yeah. What do you mean fire the
right person?
>> You can't know from talking to someone
30 minutes or 3 hours that you hired the
right person. You can assume. You can
try. You can see if there's chemistry.
You can see if he knows what he's
talking about. You can try to see the
best that you can. And with experience,
you get better at that. I'm I think
quite good at it. When I talk to
someone, I can see if they can work. But
even myself, I can be wrong. So don't
forget about the hiring process. The
hiring process comes later in the game.
So again, if you're a new business owner
for 3 years, hire what you think is
right, but learn to fire.
>> Learn to fire.
>> Quickly or not,
>> as quickly as you can. Obviously, no
chaos constantly hiring, firing. That
doesn't make sense. You have to work
with people. You have to
>> So everything if you take it to the
extreme, it's going to be it's it's a
terrible idea. If you're going to hire
someone and constantly fire, you're
never going to be able to find the right
thing. Nobody's going to be perfect.
going to get around. You have to know,
let's put it this step two steps back.
What's what's the
>> what is the most important part to you?
This employee should be able to do
>> boil it down to three, four, five, six
things. If he's good at three and four
of the six, okay, great. Now, the other
things is where you have to work on.
You're also not perfect, right?
>> You're also not perfect in your job
unless you're I don't know. Nobody's
perfect. So, focus on your
imperfections. Focus and try to help
grow your employees from the bottom up
instead of coming from the top down.
Hey, you're not good at this, you're not
good at this. Bring them up, compliment
them,
let the light shine, and
they will you'll lead by example.
They'll come over and and they'll learn
from you and they come around. And if
they don't, you let them go. Something I
learned in the world of recruiting is
before you hire, take time to figure out
what does success look like in this
position. Even for
what might people might think is a
regular bookkeeping position, right?
Just make sure data like the financial
information is in the software. Yeah,
but what does success look like in this
position? Take the time,
put away all your notifications and
distractions, turn off your phone and
sit down and write this person is going
to be in this position. How do I define
it to be successful? Once you know what
you're looking for, then you go find
that person. But you need to know first
what you need.
>> In other words, what what's your desired
outcome?
>> Yeah. And then go find that person.
>> I love that. Um, many people hire based
on hebi hiring. You smoo with them and
you like them, you click, but then
they're three months in and they like
you're so far behind, they're not up to
speed, but they're a great sch smoozer.
So like, oh, great guy to work with. No.
>> So the truth is when you start hiring,
that's that's how you do it.
>> You need to first know what you need and
what you're looking for. Like when you
go buy a house, right, the broker is
going to ask you, "What's your budget?
>> Do you need a master bathroom in your
master bedroom?
>> Do you need a pool?
>> There's all these parts." Sure. So Tony,
let me ask you this.
>> Your average client, how long is your
business that you work with?
>> Varies.
>> Average.
>> Um,
>> is it their first hire
or usually?
>> No, I have not worked with companies
that do their first hire. I don't think
they can afford me. Um, I'll you
probably work with companies
five employees and up. Um, and how long
they've been in business.
>> So, exactly.
>> A year, two years. So they have a little
bit of an idea of what's going on in the
company. They've been hiring and now
they just have to take a lot of times
people are not there yet. They
>> all they know is they're busy. They
think that this is what has to happen.
So part of the process is through hiring
and firing,
>> right?
>> Um but definitely if you could go to a
place and where you can say what's my
desired dog that would be great. A lot
of times you don't it just
>> you need it otherwise because they what
ends up happening you're wasting so much
time and money on hiring people and
you're interviewing and you're not sure
and this and that.
>> Right.
>> Right. And and you need to do reference
checks.
>> Talk to the person
life.
>> It's very very important.
Very important.
You sometimes you can do reference
checks once you're ready to hire them.
Figure out what's the best way to work
with them. Can how do they handle
change? Do you need to let them know in
advance or can they handle it with it?
>> Can they handle change right away?
>> Like sometimes reference checks are good
for that too, but reference checks are
>> very very val very very valuable. Um, as
the the guy that the buck stops here,
CEO in charge, what's the hardest part
about your dayto-day?
>> During the silence, we'll p we'll put on
some like onhold music.
>> It's a very good question. I don't I I
don't I don't think anything in my job
is hard. Honestly, I'm trying to find
like
>> what's the most challenging part of your
dayto-day?
>> Challenging is navigating
the dynamics
of partners and employees and customers.
It's like
>> just dancing the dance. It's also not
challenging. It's I like to dance. So
dancing that ends is is uh you know it's
could sometimes be challenging,
exciting, but
>> what's a recent challenge that that you
had a hard time working with?
>> The recent challenge
>> Mhm.
>> is coming in this podcast. I'm I was
never a person that came out and
did
>> you say yes.
>> So I've made a decision a week before
that I'm going all out on content,
>> getting out there. getting out of there.
I'm not hiding anymore.
>> This is the world of where everything is
open. Vulnerability is what gets you
most further. It wasn't like that uh
back in the day. And I'm going to face
my fear of rejection and my fear of
being not good enough. And I'm going to
go all out. And it's a very hard thing.
It's a very challenging thing. So if you
want to know what's my hardest thing now
is going all out. Going all in and
content believing myself
and
not being afraid because I know the
rejection is going to come in. People
are going to judge. People are going to
and it's normal and I also I watch
content and I judge people like what the
hell are you doing? You don't know what
you're talking about.
>> But believing if something sounds true
to you, there's a very big chance it's
going to sound true to others. and just
focusing on that. That's my biggest
challenge right now.
>> It's pretty good. Well, I'll tell you
what. When Friday sells for a lot of
money,
>> Yeah.
>> I'm going to be able to say you were my
first I was I was your first podcast.
>> You were
>> um
you were an employee. You became then a
business owner. What do you think is
something that employees need to know?
>> It's a very good question
>> that many don't or should.
>> First of all, I think every business
owner should be an employee at some
point. first or after [clears throat]
[laughter]
>> Schwarzbot.
>> Yeah.
>> Was an employer then became an employee
>> and he said that mindset was very very
tough to deal with.
>> You're a business owner. You have the
freedom to make decisions however you
want. And then for two years he was an
employee. He he said it was very very
hard and now he's working becoming an
employer again. So I remember um when I
was meeting with CEO of CHS to do
consulting, he was asking me questions
wanted to see if I'm a right fit. So he
was asking me questions about how I
would do differently, what what I would
do differently in my other company in
finger chat. I answer them. The truth is
I can tell you what I would do
differently, but the truth is I don't
know what I don't know. Meaning I was
never in that seat and I don't know the
perspective of things. So it's very
stupid of me to have that opinion. I
think that's something employees need to
understand that
if you work for someone, believe in that
person and trust that person. Believe
and trust in the person. If you don't
believe in that person, you don't trust
that person, don't work for him. Don't
work for him. Work for someone else
>> as an employee.
>> As an employee, if you don't trust him
and you don't believe
>> you're looking for a job, how are you
going to know to trust gets built over
time?
>> So again, I'm not telling you to quit
now. I'm not giving you practical
advice. Go and quit the job if you don't
trust. But what I'm saying is
>> it's not the ideal job. Have your eyes
open. Start searching.
>> When you left finger when you joined
Finger, you didn't trust the guy.
>> Of course,
>> you didn't know him.
>> I So, okay. When it started out, you
started out a job. I don't know anything
about it, but he first of all, he sold
me on his vision in the interview and I
was like, "Yes, this is I'm going to
make a lot of money here."
>> And I was a big fan. I'm still a big
fan. I was a mic for my boss. Everything
I know he he taught me,
>> right?
>> I wanted to work for him. He treated me
nice. He every my whole life was around
him. It's like listen there's there's
three ways to to
there's
there's and there's right
>> right three types of relationships
and all of them have beautiful things
they have. Right. The aid and Ben the
there's a certain mala that there's I'm
sorry the aid and rabbi like
>> there's a certain simpleness you trust
your boss what he tells you to do is a
good thing. If he tells you that you
have now more
>> um
that he gives over more control and then
he trusts your judgment that's great.
That means your judgment is good. This
is simple basic life. It's great. I
loved it. I did it for nine years. There
was a lot of good things about it was
amazing.
And at some point I outgrew that. I
needed something more. I needed a
different relationship. Right? So
ultimately I'm now in the
entrepreneurial thing where I have a
very close relationship with Hashem.
It's like you can't not
>> have a relationship with them. You could
you'll be miserable. But
for example, coming out doing content
was a pure it's like, okay, things need
to move a certain way. I want him to
move a certain way. It's not going a
certain way. What is it that I can do?
What am I afraid of? And after asking
the question a couple times, it came up
rejection. You're just afraid. And
>> what are you afraid of? So I know what I
have to do. It's a completely different
journey. So it's a journey between you
and yourself, between your heart and
your mind, between you. It's different
thing. So I hope that answers your
question.
>> I think so. But as an more for an
employees, what what do they need to
know? Is as you were both like is there
something that you feel like employees
don't really know much? Like if they
knew this Oh, wow.
Yes. Employees
have a job. Let's say you do customer
service. You have to make the job the
customer happy, right? That's your job
and you should do great thing and your
job is also to advocate to get more
things done for the customer, right? The
CFO's job is to make sure there's always
money in the bank account with net
positive with profit.
>> The product job or what
>> marketing
>> market yeah everybody
>> sales
>> and they focus on that. There's only one
person that has to have everything in
mind. Which means is sometimes you have
to take money from the bank account that
you don't have in order to build a
product that the customer wants. And
sometimes you have to tell the customer
no because you don't have the money.
>> Sometimes you have to tell product to
develop something that's that's that
that the customer doesn't want because
you believe this is what the customer
will want.
>> So you're the person that sees the full
picture and anybody else can't see the
full picture and they're not expected to
see the full picture.
And that's why you have to work with
someone you trust because he's the one
that has the full picture,
>> right?
>> And even I don't have the full picture.
I have to trust
>> the boss. The big boss,
>> the big boss.
>> Um, as we're getting to to the end of
the podcast, would you have any advice
for someone who's like
he has a role job, makes a cushy salary,
but hit a plateau. It's already a year.
They're pretty bored. Job's getting
done. They don't feel like they have a
challenge or they're thinking about
going out on their own. Any advice?
Now, before you answer, there was
someone on the podcast that said, "Don't
do it."
>> Like, don't go out on your own.
>> That was my first thought. No,
absolutely not.
>> It's okay. Answer however you feel
comfortable.
>> Um,
>> open it till
>> the journey that you going that you're
going to go when you open up is
something nobody can prepare you for.
>> It's going to be grueling. It's going to
be exciting. It's going to be a lot of
ups and downs.
But on the other side, there's a greater
version of you. Go after it. Go careful.
Make sure the first thing most important
thing is your wife and your kids. Don't
forget about that.
>> Support.
>> It's more than support. Be the be the
husband that you are and that you could
be. The husband is not a title. It's who
you are. A father is not a title. It's
who you are.
CEO is a title. I like that. And
if you can be who you are, you will be
successful. If you're humble enough and
you have enough grit,
which is sounds contradicting, but it's
not,
you'll be successful. And call me. Call
me and I'll be happy to walk you through
a hard a hard day.
>> Reach out to me on LinkedIn, Hashi
Goldstein.
>> Reach out to me on LinkedIn.
>> Wow. Okay. What a good podcast. I hope
you enjoyed, Ashley. You are a
phenomenal guest. Thank you.
>> Make sure to subscribe on YouTube and
I'll see you next time.