[MUSIC] Hello everyone. One more class about startups from NEU. Again just thinking about the here, we said right: behavior of the entrepreneur, some characteristics. Then we went to market immersion, understand the market, bring the idea to paper, model better the business, undertake as a business, see hypotheses, validate hypotheses, understand the user, Immerse yourself in the user's life. Then we started to give another step is growth. We talk about growth with marketing strategy, we talk about growth from product. And then we enter now in this class that is to build an operation, operation and culture. There are two very important points because they determine little efficiency of startup growth. As we always say, the startup it is very fragile, has little resource. So there are usually few people, a lot of work, a lot of growth. I need another way to play the things, especially new business, that people needed other models, so it's a culture little different, all logic is little differentiated, resources are scarce. So this makes us have to see the operation of a startup, see the culture of a startup, from a technology company different world way. Book that I recommend a lot is "How the Google Works" which explains little of this. When the two managers at Google, Eric Schmidt and Jonathan, they got a lot more with the head of business and they tried to bring some concepts of businesses they had and Larry Page and Sergey Brin were like "man, this does not work. You are another universe, things changed and you need to adapt". So this book talks about how they, as managers, they adapted to the culture and redesigned a culture a company of technology that, by characteristic, has a totally different culture, great place to work. So the concept of culture influences a lot, specifically the startups that has been hitting this key a lot. When we talk about operations and cultures, for this class we wanted to hit Four very important points are: autonomy for the teams, productivity, positioning attracting new talent and scaling the business efficiently. So the first point that it is teams with autonomy. Team with autonomy is very difficult for you to create autonomy. There is usually a lot of talk "we have to give autonomy, you have to allow innovation, have to do this and that." but it is very difficult process. Because you often give autonomy and things get out of hand. But it is not because of the lack of autonomy, but much more because of the lack of communication, lack of alignment. So in our startups and here at NEU itself is what we always say: you don't need have a super bureaucratic process. You have to think a lot more how to communicate, how to align. Right here at NEU we hold a meeting maximum of 15 minutes a week standing in front of our goals chart and planning to see how it's going the operation, what speed, if we is meeting the goals, if there is any specific problem, 15 minutes on foot just to Align everything and go back to operation. This is something that for us makes a lot of difference and I recommend, if you want to deepen these concepts, I indicate the book "Scrum", that talks a lot about some methodologies more agile for the development of products and business development. They often seem to be alone adaptable to technology companies, But I think it works for many models. Another point is productivity. Because we have a lot to do, very small team, little time, little resource. How do we work? Prioritization. Prioritization I think is one of the words I hear most from startup managers that are growing. They're always like "Dude, I have a lot to do, a lot of decision and knowing how to prioritize is the that most determines my success, my results and my productivity." So think little about it, think little motivation, Execution cultures make a lot of difference to increase productivity. So you defined the delivery, prioritized, gave that mission, go with autonomy, you let people more motivated and they deliver more. This unfolds too little in the positioning of the company to attract new talent. You start to show companies are nicer, they are more fun to work with. Damn, I'm in a place that has a sensational mission, that I have a giant autonomy and that the challenges are great. I grow like hell. It attracts new people especially startup, that we have little money to pay, that we still can't be competitive as a bank, or as an industry, we can be competitive cool environment, with a cool culture, with legal autonomy and with the feeling of growth for those who are participating. And then the last point is the scale. Scale you will see a lot in the practical class that David Kato, from iFood, he tells how he climbed iFood. It's always starting small and thinking big. Knowing the scale comes with you knowing how to trust, knowing how to let mistakes. Scale is never something, for startup it's never something you think lot of rules that we you have to grow up tied to it, but much more allow people grow and give autonomy, develop leaders and then see the growth through mistakes, through speed. Whenever we talk about startups, we talk about testing, of hypothesis, of experimentation. So we really believe that comes from a culture of experimentation. You know how to experiment quickly, thought, planned. If I think to make a change on the platform it can work, I go there I think: my hypothesis is this, I'll see if the result is good or bad, so, so, roasted. I go there and test. So I don't get stuck "will it work, can't it" is too much better go outside and try. So scaling is very much like that, allowing its small and well-concentrated teams, communicating well, manage to do these experiments, do these tests. Facebook itself has a culture of 'move fast and break things'. If you move fast, test yourself and break things. Because the mistake leads to some learning, leads to some paths. It is not to glorify the error, but to know that it's part of this escape process. I end this class with a phrase that I like a lot, that I also learned a lot from this Spotify culture study that is "if everything seems to be under control, that is to say that you're not fast enough." So know that startup is to grow fast and you have to learn to create mechanisms to grow quickly and efficiently. This is it people. I hope you enjoyed the class. To the next.