CEOCoachingInternational

19-YearOldBryceMaddockOn…BuildingTaskUsfrom0to4,500employeesand

$50MillioninRevenue

SteveSanduski: HelloeverybodyandwelcometobacktoanotherepisodeofOnYourMark,GetSet,Grow.I'myourhost,SteveSanduski,andjoiningmetodayisBryceMaddock.BryceisthecofounderofacompanycalledTaskUsandfolkslistentothis,thisisanunbelievablestory.Bryceandhiscofounderstartedthecompanyjustafewyearsago.Theyrecentlytooktheirfirstoutsidefundingandraised$15million.Theyareontracktogenerate$50millioninrevenuethisyear.Theyhave4500employeesandBryce,areyoueven30yearsoldyet?

BryceMaddock: Thankyoufortheintroduction,Steve.Itwasvery,verykind.Ijustturned29inJulysoIguessIam291/4.

SteveSanduski: Thereyougo.Thisisamazingsowelcometotheshow.I'mthrilledtohaveyouhere.Startusoffhereifyouwould,takeusbackafewyearsagowhenyouandJasperstartedthiscompany.Howdidyoucomeupwiththeidea?Whatwasitliketheyarebackintheearlydays?

BryceMaddock: JasperandIhavebeenbestfriendsforoveradecadeandwhenwegraduatedfromhighschoolbothofusgrewupinSouthernCalifornia,wehadthisideathatwewouldbeabletothrownightclubsforhighschoolkidswhichwasacrazyoff-the-wallidea,somethingthatreallyyouhavetobe18yearsoryoungertohavesuchacrazyideabutwefiguredoutawaytodoitandthatwasourfirstbusiness.AllthroughcollegeeverysummerwewouldcomehomeandbewiththrownightclubsatdifferentvenuesthroughoutLosAngeleswheretheaverageagewaslike151/2.

Wediscoveredthattherewasthisloopholeinthelawthatifanightclubcouldservefoodtheycouldservepeopleunderagebutthey'rejustcouldbenoalcoholpresentinallthenightclubsinLAwereclosedonMondayandTuesdaynightsandsowewentinandofferedtorentthevenuesandopenthemuptoeageradolescentsthroughoutSouthernCalifornia.Itturnedouttobeahuge,hugesuccess.Wehad800to1,000kidsshowupeveryweekthroughoutthesummerandwechargedbetween15and$25foradmissiondependingonthevenueandwhattypeofentranceyougot.

Wethoughtentrepreneurshipwaseasy.Wethoughthey,thisisthefasttracktoriches.Whywouldweevergoworkforsomebody?IwasincollegeinNewYorkandJasperwasincollegeinLA.Igraduatedayearearlyandactuallygotajobin

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investmentbankingjusttocontinuetopaythebillsandbeabletoliveinNewYork.WhatendeduphappeningwasasJasperwasgraduatingwecametogetheranddecidedwehavegottogostartournextbigsuccessfulempire.WebrainstormedandbrainstormedandthisoneideacameupandJaspersaidthemostbrilliantideaIcancomeupwithislet'smovetoArgentinaandstartafrozenyogurtshop.

SteveSanduski: Okay,soArgentina.WhyArgentina?

BryceMaddock: ArgentinawastheideaandIsaidthesamething,IsaidJasperwhywouldwemovedtoArgentinaandstartedfrozenyogurtshop?Hesaidtworeasons.Argentinianpeopleloveicecreamandtheyhatethatpeople.Isaidthat'sreallyinterestingcitedtheresearchandweputtogetherabusinessplanandthebusinessplanbasicallywasbasedontwostats.OnewasthatArgentinianseatmoreicecreampercapitathananyothercountryintheworldandthesecondonewasthatArgentinianshavethesecondhighestcaseofeatingdisordersjustafterJapan.Wewereconvinced.Brilliant,thisisthewaytodoit.WewentdownthereandafteramonthofstrugglingquicklydecidedthatstartingafrozenyogurtshopinArgentinawasalittlebittougherthanwehadexpected.A22yearsoldwefindourselveswehadgraduatedfromcollegeandIhadjustquitandinvestmentbankingjobinNewYork,livingwiththeirparentsandwonderingwhatwe'regoingtodotosucceed.

SteveSanduski: Thefirstlessonwasbasicallyifyou'regoingtofail,failfast.

BryceMaddock: Actually,thatwasaverygoodlessoninfailure.Whatwedidwasweactuallywentthereandweaskedpeople,wetalktopeoplewhowereAmericanswhohadmovedtoArgentinaandstartedafoodservicebusinessandweaskedthemabouttheirexperience.Basedontheconsistenthorrorstorieswewerehearingwedecideditwasprobablynotagoodidea.Ithinkthere'ssomedeepvalueandtalkingtopeoplewhohaddoneitbefore.Iwouldn'tdoittoomuchbecauseifyoudoittoomuchyouwillprobablydiscourageyourselffromevergettingstartedwithanythingthatyoujustwanttolookforthoseredflags.

IhadbeeninmyinvestmentbankingdaysandIhadworkedreallyhardandhadthemalotofverytrivialrepetitiveprocessesandastheentitledmillennialintheroomIkeptonsayingthisisbeneathmypaygrade,thisisbeneathmypaygrade.OfcoursenoonelistenedandeventuallytheytoldmeIshouldprobablygogetanotherjobbutintheprocessIthoughttomyselfnotonlyisitbeneathmypaygradebutitjustmakesnosensefortheinvestmentbanktopaymeaheftyinvestmentbankersalaryandpayfortherealestateinNewYorkCityformetodothiswork.

WiththeriseoftheInternetIthoughtIcouldhirepeopleinIndiaorPakistanorsomewheretodothisworkforprobablyatleasthalf,probablylessthanthatversuswhatIwasgettingpaid.Ibegantoexperimentwiththisideaofhowcanwepowerprofessionalsinthedevelopedworldtocollaboratewith

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professionalsinthedevelopingworldinordertogetworkdonemoreefficiently?ThatwastheideaforTaskUsinitially.Wethoughtweweregoingtocreatetheworld'sfirsttasknetworkwhereifyouhadataskyouneeditdoneyoucouldjustpostit,itwouldgetautomaticallyroutedtothepersonwhoissuitedtocompletetheworkandthenyoujustpayforthetimethatittooktocompleteit.Itwasaverynovelidea.

Thefirstversionofthewebsitehadaccountingandlegaladviceandprettymuchanyserviceunderthesunandwetriedtomakethatworkforabout31/2yearsandjustrepeatedlyfailed.Wefoundourselvesflashforward26yearsoldandstilllivinginherparentshouse,stillrunningabusinessthatwasgeneratinglessthan$1millionayearinrevenue.

SteveSanduski: Thisisbackinwhat,2010?Isthatwhenyoustarteditoriginally?

BryceMaddock: Westartedthebusinessoriginallyin2008andittookusprobablyuntil2011,yeahabout2011iswhenweshiftedthebusinessmodel.2011tomakethedecisionthatthisisn'tworking.

SteveSanduski: WasitcalledTaskUsbackthentoo?

BryceMaddock: Itwas,itwascalledTaskUsandtheoriginalversionofthewebsitewasthisbrightorange,Istillhavepicturesofitsomewhere.It'sareallysnazzydesigncirca2008.WethoughtitwasthecoolestWeb2.0layout.Itlookssuperdatednowbutyeah,thatwastheidea.

SteveSanduski: Todaythereisanumberoffirmsthatdothisoutsourcing,backwhenyouarestartinguswereyouoneofthefirstpeopletostartdoingthistypeofoutsourcing?

BryceMaddock: TherewasacouplecompaniesthatweredoingsimilarvirtualassistantworksotherewasacompanycalledAskSundayandtherewasacompanycalledGetFriday.Istilldon'tunderstandwhyeverycompanyinthisspacetendstonamethemselvestheexactsamethingbutthosewerethetwomaincompetitorsandbasicallytheywouldallowyoutohireapart-timeorfull-timevirtualassistantandtheideawasthatyouwouldhireaperson,inthiscaseinIndiaandtheywouldworkforyoubetween10and40hoursaweek.Whatwedidn'tlikeaboutthatmodelwasthatitforcedyoutobuy10to40hoursaweekeverysingleweek.Wewantedtogivetheuserflexibilitytojustsendintheworkthattheyhadandonlypayfortheworkthattheyhad.

Itturnedoutthattherewasareasonwhytheywantedtofixthemodelandmakeyoubythesamenumberofhoursaweekfromthesameassistant.Aswefoundinourmodelthevirtualassistantmodelwasverychallengeandthereasonwasthatinordertodoworkreallywellforanindividualyouhavetounderstandthatindividual'spreferencesandso,Steve,thewayyouwantaPowerPointpresentationdoneisprobablygoingtobedifferentthanthewayI

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wanttoPowerPointpresentationdone.Lackingthatconsistencywasreallydifficulttodelivertopersonalexpectationsandthenhavinganetworkofpeopleallovertheworldmadeitreallydifficulttomanagethequality.Youwouldfindpeoplewhowereincredibleandtodoamazing,amazingworkandthenyouhavealotofpeoplewhowerebelowaverageintermsoftheworkthattheyproducedandinthosecasesJasperandIfoundourselvesstayingupuntiltwoor3o'clockinthemorningredoingPowerPointpresentationsandthinkingattheendofthiswe'regoingtohavetosplit$10anhourwithKhalilinPakistanwhodidtheoriginalversionofthis.

SteveSanduski: Youarethinkingasaninvestmentbankeratthisworkisbeneathmeandhereyouare2o'clockinthemorningtoaPowerPointpresentations.

BryceMaddock: Iwilltellyousomething,IthoughtwhenIwas22thisworkisbeneathmeandwhatIhaverealizedsevenyearslateristhatthereisnothingbeneathyou,particularlythehigheryougoasaleaderthemorewillingyouneedtobetoleadfromthefrontandreallyunderstandtheworkofyourfrontlineworkers.InfactoneofthethingsIpridemyselfonnowisforbiggeraccountsactuallysittingdownanddoingtheworkthatthepeoplewhoareactuallyansweringtheemails,transcribingthevoicemailsormoderatingthephotosthatIactuallydothatworkmyselftoaleastexperiencewhatitisliketobeonthefrontlines.

SteveSanduski: Ithinkthatisgreatfromaleadershipstandpoint.Thefirstthreeyearsyouwerekindofstruggling,Ithinkyousaidyouwereuptomaybe$1millioninrevenueandthenitsoundslikemaybeyoudidsomekindofpivotheretoturnthisthingaroundandhavethisunbelievablegrowththatyouhavehadthepastfewyears.

BryceMaddock: ExactlyandsoeveryonesayswasasapivotthatwasreallybasedonastrategicstrokeofbrillianceandIsayabsolutelynot.IjustwantedtomoveoutofmyparentshousesobadlythatIwoulddoanythingatthatpoint.It'samazing,necessityisreallythemotherofallinvention.Ifyougetbackedintoacornerthethingsyouwillcomeupwithareincredible.JasperandBryce,wehadtoldallofourfriendswe'regoingtogostartthisvirtualassistantnetworkandwithinsixmonthswe'regoingtobeassuccessfulasMarkZuckerberg,right?Hewaskindoftheemblemofentrepreneurialsuccessforourgeneration.

SteveSanduski: Hestillis.

BryceMaddock: Hestillis,yeah.Wefoundourselvesthree,maybe31/2yearslaterwithalotoffriendswhohadjustgottenpromotions,theirfirstpromotionsandwerelivingwithapartmentsandcertainlyhadatleastenoughmoneytotakeagirloutfordinnerontheweekendandhereismeandJasper,wedowithourparents,wearedrivingcarsthatprobablyathinkatthatpointwereasoldaswewereandtheonetreatsweevergotwasonceamonthwewouldgotoSoupPlantationonaFridayafternoontogetherandhaveanall-you-can-eatbuffet.ThatwasourlifestyleandsoIthinkeventuallywewerelikeweneedtofigureoutawaytomakethisbusinessmodelworks.

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Whatwedidiswelookedatwhatwehadthatwasuniqueinthatwerealizewasthereweretwoveryuniquestrengths.OnewaswehadbuiltasmallofficeinthePhilippinesandwehadchosenthePhilippinesafteroutsourcingworkto16differentcountriesbecauseinthePhilippineswewereabletoconsistentlygethigh-qualityworkatarelativelyaffordableprice.TheotherthingthatwehadwaswehadrelationshipsintostartupcompaniesbecausewehadthoughtaboutourselvesasastartupcompanyandsowehadalotoffriendswhowerebeginningtogofromaseriesAtoaseriesB,theyhadbeenearningrevenue.TheyweregettingsometractionintheirproductandtheybegantoreallycomplainaboutI'vegottogetanewoffice,I'vegot10peopledoingcustomersupport.Ifmyproduct10x'sitselfagainnextyearI'mgoingtohave100peopledoingcustomersupportindowntownSanFranciscoorNewYorkcityandhowmygoingtoaffordthat?

Alightbulbwentoffinourheads.Wesaidwecanhelpyouwiththat.Wecancutyourcustomerservicecostoryourcontentmoderationcostoryourgraphicdesigncostsinhalfandwewillguaranteethesamelevelofqualitythatyourcurrentstaffisdelivering.Reallyforthelastalmost4yearsnowthatisinthemodelthatwereportonbuildingandthegrowthhasbeenphenomenal.Wehavegrownsincethenat300%year-over-yearandthepaceatwhichthebusinesshasgrownhasbeenimpressivebutIthinkprobablymoreimpressiveistherosterofclientsthatwehavebeenabletoworkforandthepeopleinthePhilippinesthatwehavebeenabletoattractbecauseoftheuniquenessoftheclientsthatwearesupporting.

SteveSanduski: Let'stalkaboutthisrapidgrowth.Rapidgrowthkilledalotofcompanies.Youcangrowyourselfintobankruptcysohowareyoumanagingafastgrowthandlet'sstartwiththepeople.You'reliterallyhiringthousandsofpeople.Whatkindofsystemsareyouputtinginplacesothatyoucanhire,train,andgetthesepeopleupandrunningandbeprofitableforyourbusinessinsuchashortorder?

BryceMaddock: Ithinkwasreallyinterestingaboutourbusinessisthisyearwehavebeenonapacewherewehavebeenhiringonaveragealmost100peopleaweek.ItblowsmymindbecauseinourLAofficewehiredIthinkweareat35peoplenowsoIthinkwehiredeightpeoplelastquarterandthatwaslikesuchanundertaking,Ican'tevenbelieveit.Eightpeopleandaquarter,wewereinterviewingthewholetimeandnowtheofficefeelscompletelydifferentbecauseyoubasicallyhavebroughtinathirdofthepeoplewhohaven'tbeenheremorethanthreemonths.InthePhilippinestheyhavegotthisdowntoascienceandsoweuseanumberoftoolsandoneofthemwhichweactuallyinvestediniscalledinterviewed.It'saSASbasedplatformthatworksreally,reallywellforinpersonmasshiring.

BasicallysomebodywalksintotheTaskUsoffice,theyarehandedaniPad,theytakeapictureoftheirresumeandapictureofthemselves.Theyfilluptheirbasicinformationandthentheywalkintoatestingroomandtheapplicationfollowsthem.Theysitdownandtheygothroughaseriesoftestswhich

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determinewhethertheyaregoingtofirsthavetheskillstoworkinacallcenterenvironmentatall,andthesearebothskills-basedtestandpsychometrictests,andsecondwhethertheyhavetheskillstoworkonthisspecificclientaccount.Iftheydon'thavetheskillstoworkonaspecificclientaccountwewillretestthemforsomethingdifferent.

Thefinalisaface-to-faceinterviewtomakesurethattheyfitinwithourculturebecausecorevaluesaresuperimportanttousacrosstheentirebusinessfromthefrontlineuptome.IthasbeenareallyimportantpartofoursuccessisourabilitytohirequicklybutIwouldsayequallyasimportantisourabilitytohiretherightpeopleforthejob.

SteveSanduski: Okay,sowhenthatpersonwalksintheofficethatdaytheygothroughthisprocess,willtheygethiredbytheendofthedayoristhereasecondroundofinterviewslater?

BryceMaddock: OurSLA,whichwehavenotyethitbutwe'reworkingourwaytowardsitisatwohouryesornodecision.InthePhilippinesitisdifficulttodescribeintheUSbecausethereisnotreallyacorollarybuttodaythePhilippinescallcenterindustryemploys1millionpeople.Thereare100millionpeopleinthecountrysothatis1%ofthepopulationisemployedbythecallcenterindustry.InthecenterofManilawherewehaveourheadquartersthatisthemassiveconcentrationofcallcentersandcallcenteremployeesandsoyouwillhavepeoplelineup,hundredsofpeopleadaylineuptotakeinterviewsandtoapplyforajob.

Wehavelookedatthisprocessandrealizethatapplicantswhoapplyforajobandgetveryresentfulandrightfullysobecauseitwilloftentakemorethanoneday,itwilltaketwoorthreedaysofcomingbacktotheofficebeforetheygetadecision.Ifyoucanimaginecomingbacktoanofficerepeatedlyandthengettinganojusthowpissedoffyouwouldbeinthatsituation.Wetrytousetechnologytogetadecisionquicklyandweareworkingtowards,we'renotthereyet,butwe'reworkingtowardsanaveragetoourtwoayesornodecision.

SteveSanduski: Okay,sothatworksinthePhilippinesbuthereintheUSyousaidthatyoubroughtineightpeoplelastquarterinyourLA,SantaMonicaofficethere.YouhaveasimilarprocesswhereyouaregoingtohirethosepeopleintwohoursorisitamoretraditionalIwillsay"American"process?

BryceMaddock: Itisamoretraditional.Iwouldsayformanagementlevelandabove,includinginthePhilippines,wehaveamuchmoretraditionalprocessandtheprocessisactuallybased...Whatwedofirstisweputtogetherarolescorecardforanymanagementlevelpositionorabovethemanagers,directors,VPs,inthePhilippinesandintheUS,thereisarolescorecardthisisherearetheKPI'sforthisjob.Itcouldbeforsales,itcouldbeasalesquotaorforourclientservices

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teamwhichmanagesallofourclientrelationshipsitcouldbeacertaingrowthtargetacrossalloftheiraccounts,andthentherearespecificdeliverables.

Herearetheprojectsweexpectyoutoexecuteoninthefirstyear.WewantyoutoimplementanERPsystem,weneedyoutomakesurethattheInternetstaysupintheTaskUsofficewhichisembarrassingbutthatisaproblemforusinSantaMonica.We'vegotperfectInternetinthePhilippinesIcan'tgetperfectInternetinSantaMonica.Thatrolescorecardinformsintheinterviewprocesswhichwelookfor,wehaveasetofquestionsbasedoncompetenciesthatareneededforthatroleandwetrytoaskthesamequestionstothesameapplicants.Weusedtodoitinatandemformatweretwopeoplewouldinterviewoneapplicanttothetimeandnowwearedoingmoremultipleinterviewswhereyouwillbeone-on-onewithmultiplepeopleacrossthecourseoftheday.

WeuseasystemcalledGreenhousewhichisanapplicanttrackingsystem,cloud-based,andreallyanincrediblesystemtotrackapplicantandbasicallywillshareallofourinformationaroundtheapplicants.Fourorfivepeoplehaveinterviewedonepersonandyoucanpullthatinformationandthentherecruitergoesintotheapplicanttrackingsystemattheendoftheday,talkstothehiringmanageraboutwhetherwe'regoingtohirethatpersonornot.ItisamoreintensiveprocessintheUnitedStates.It'sonethatreallyscreensforthetraitsthatweneedtobesuccessfulintheroleandalsoonethatreallyscreensforunderstandingandembracingourcorevalues.WetriedtointegratethatatthefrontlineinthePhilippinesviamakingsurethateverypersonwhoishiredhasaface-to-faceinterviewsothattheyarescreenedforthatbutitiscertainlynotasdetailedasitiswhenyou'rehiringmanagementlevelpositionsandabove.

SteveSanduski: Onemorequickthinghereonthewholestaffingthing,youhavetalkedaboutthecorevaluesandtheculturealittlebitandindoingmyresearchhereitisclearthattheculturethatyouhavedevelopedinthePhilippinesisdramaticallydifferentthanatypicalcompanydownthere.ItsoundsyouhavetakentheSiliconValleyEastCoastandcultureandputitdownthere.Howimportanthasthatbeentodrivingthesuccessofyourcompanyandbeingabletohirethesepeople?

BryceMaddock: Massivelyimportant.ThePhilippines,fascinatingcountry.ItwastheterritoryoftheUnitedStatesintheearly20thcentury,gotitsindependencefromtheUnitedStatesandsincethenhashadaverycloseconnectiontotheUnitedStates.TheywereruledbytheSpanishfor400yearspriortothatandtheyabsolutelyhatetheSpanish.Justcompleteresentment,reallytheonlythingthat'sleftfromthatismassiveCatholicinfluenceinthePhilippinesthatveryfewpeopleevenspeakSpanishinthePhilippinesnowthat70%ofthepopulationspeaksEnglishfluently.Youhavegotacountrythatwasreallyripeforoutsourcingbecauseofitsplaceinthegeopoliticalscene.Whatindicatedthis

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wasthePhilippineshadadifficulttimeinthelate20thcenturycreatingjobs,creatingenoughopportunitiesforthepeopleinthecountry.

Thegovernmentcreatedaprogramcalledoverseasforeignworkerandbasicallywhatitisisagovernment-sponsoredprogramforyoutoleavethecountryandgoworkinanothercountry.Wellintothe2000thebiggestsourceofGDPinthePhilippineswasforeignremittancescomingfrom10millionFilipinoswhowerelivingintheUSandCanadaandmorefrequentlyrecentlytheMiddleEastinplaceslikeQatarandSaudiArabia.Inmyopinionithasruinedthesocialfabricofthecountrybecauseyou'rethebestandthebrightestleavingthecountryandgoingoverseastomakemoney.Therestofthepeoplestayathomeandarereliantonacheckbeingsenttothemfromoverseas.Theproblemisathometheycouldn'tdoanyjobthatwouldmatchtheamountofmoneythattheyaregettingfromtheirfamilythatisoverseas.

Itcreatesthesubstancelifestylewhereyouaredependingonaforeignrelativeandnotdoinganyworkyourself.Thebestandthebrightestleave,itsplitsfamiliesapartsoparentsaren'tabletoraisetheirkids.Thepeopleleftbehindbecomedependentonthisinsteadofworkingforthemselvesandittearsatthesocialfabricofthecountrybecausetherearen'tthepeoplelefttoreallyholdthegovernmenttoaccount.Theoutsourcingindustryhasbeenincrediblebecauseitiscounteractedthismassiveway.What'shappenedisyouhavehadtheopportunitytodaywhichyoudidn'thavebeforeoutsourcingcametothePhilippines.

Youhavetheopportunitytoworkforforeigncompaniesbuttoliveathome.YougettotouchyourkidsintobedatnightbutthenyougettogoworkforanAmericanorCanadianorAustraliancompanyandearnedwagesfromthosecompanies.Thefirsteraofoutsourcingwhichstartedintheyear2000andthePhilippinesandinmyestimationkindoflasteduntil2012whenwereallybegantorampouroperations,thatwasgood.Thatwasgreat.IcanworkforAT&TorforTelstraandIcanlookathome.Amazing.TheproblemisthatthosejobsforAT&TorforanytravelcompanyortelecombusinessintheWestareprettymiserablejobandtheywerecommoditizedandthepeoplewhoweredoingthejobshavebeentreatedlikerobotsthemachines.

Youhavetostayonthephone98%ofthetime,yourworkstationiscompletelylockeddown,youliterallycannotdoanythingexceptforthejobinfrontofyou.Yourbreaktimesprovisionedandinfactifyouhavetogotothebathroomyouneedtowaituntilyouhavegotgreattime.ItisareallymiserableexperienceandsoasaresultofthatattritionwentwayupinthePhilippines,80,90,sometimes100%averageannualattritionsoifyoustartedthejobatthebeginningoftheyearthevastmajorityisyouwouldn'tbedoingitattheendoftheyear,youwouldhavejumpedtoanotherjoborsometimespeoplehavetotakeabreakbecausethestressisjustsogreat.

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Whatwehavebeenabletocapitalizeontodayareaneweraofcompanies.Thesearecompaniesthathavebeencreatedrecentlytheycareaboutcultureandthequalityofservicestheydeliverandthey'rewillingtonotdrivesohardonthemetricsbecausetheyunderstandthathappyemployeeswillbetohappycustomers.Thatisourphilosophy.Webelievethatifwecanworkforincredibleclientsthenwecanattractthebestemployeesandthebestemployeeswilldeliverincrediblecustomerexperienceswhichinturnattractsbetterandbetterclients.ThereisoneotherthingthatisreallydifferentabouttheTaskUsclienttodayversusthefirsteraofoutsourcing.MostofthesupportthatwasbeingdoneinthefirsteraofoutsourcingwasforproductsthatthepeopleinthePhilippinesdidnotuseintheirdailylife.

YouwouldsupporttheNewYorkTimes.Well,theFilipinopeopledonothavenewspapersdeliveredtotheirhousesotheyhavenowayofrelatingtothatexperience.Youwouldsupportanairlinebutmostofthepeopleinthecallcenterindustryhadneverflownonanactualairplane.TaskUstodayover80%ofourclientsarewhatwecallrapidmultinationals.Thesearecompaniesthathavebuiltproductsthathaveinternationalizedreally,reallyquickly.ThinkofacompanylikeTinder.TinderwascreatedwellafterTaskUs.IthinkitwasmaybethreeyearsagobutbecauseitisamobileapplicationandeverybodyinthePhilippinesisasmartphoneithasbeenabletointernationalizeandgetintothehandsofthepeoplewhoareworkinginthePhilippineswithinjustafewmonthsofbeinglaunchedintheUnitedStates.

Itusedtotake50or100yearsforthejumptohappenbutnowithappensautomatically.WhatthatmeansforacallcenterworkerisifIamnowdoingemailsupportandcontentmoderationforTinderIamsupportingaproductthatIuseinmydailylifeorofaproductthatmyfriendsandfamilyarefamiliarwith.Thatcreatesarealaffinityforthebrand.Ithinkultimatelyitcomesdowntoweworkwithclientsthatrespectourculture,thatunderstandthathappyemployeesleadtohappyclients,andultimatelyworkforproductsthataremostlybeingusedinthePhilippinesthemselvessothere'smoreofapersonalaffinityforthem.

SteveSanduski: Itsoundslikeyouaretreatingthemashumansasopposedtotheoldercompanieswhichjusttreatedthemasacogwithinthemachineanymeanstomakesomeprofit.

BryceMaddock: Yeah,Ithinkattheendofthedayitusedtobemetrics,metrics,metrics.Ifyoucan'tgetyourmetricsandyou'reout.Idon'tcarewhatyourstoryis.Todayweliketoleadwithwhoareyouasaperson?Doyouliveourcorevalues?We'regoingtoholdyouaccountableandyouneedtodeliver.Ultimatelyweareinbusinesshereright?Wewanttobuildapersonalconnectionthatreallyisbasedoncorevaluesfirst.

SteveSanduski: Let'scontinuetalkingaboutthisfastgrowth.Wetalkedabouthowyouaregettingthepeopleinthedoor.Howareyoumanagingthecash?Youmentioned

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thatyoujusttookyourfirstroundoffundinghere$15million.Priortothatyoubootstrappedit.IbelieveyourprofitablefromwhatIhaveread.Howareyoumanagingacashsotheyasyouaredoingisrapidgrowththatyouarejustnotburningcashandrunningoutofcash?

BryceMaddock: Sure,soithelpedinthebeginningthatwehadcustomerswhoweinvoiceeverymonthandpaidanditsoundslikeyeahofcourse,everybusinessisthat,butifyouthinkaboutasoftwarebusinessyouhavetoinvestalotofmoneyinbuildingagoodproductbeforeyoustartchargingyourcustomers.Withaservice-basedbusinessassoonasyouaredoingservicesyouarebillingfortheservicesandsothathelpedalot.Westartedthebusinesswhenwewere22yearsoldwith$22,000whichwasthecumulativelifesavingsofJasperandmyself.UntilJuneofthisyearwedidn'treallytime.Thatispurelybasedonthefactthatwewereabletoscaletheproductbasicallybygoingtoourclientsandbillingthemeverymonththanrelyingonthemtopayfortheservicesthatwehadprovided.

Thechallengethatweranintolastyearwasasyoucontinuetotripleeverysingleyearyouthenneedtobuildfacilitiesaheadofyourgrowthandsoourfacilitygrowthupuntilthenhadbeenprettyincrementalinonelocationwherewehadjusttakenanotherfloor,anotherfloor,boughtsomemorecomputersandwereabletobasicallyusethecashflow,theprofitfromthebusinesstoreinvestascapitalexpenditures.Aswelookedat2015werealizedweweregoingtohavetoaddtwonewlocations.Wewantedtomakesurethattheywerestate-of-the-artandwerealizedthatweweregoingtohavetospendmillionsandmillionsofdollarsonbuildingthefacilities.Ultimatelythatiswhatmadeusdecidetoraisethe15million.

SteveSanduski: Okay,soyou'renotyet30yearsoldtogetyouobviouslyhavemadesomereallysmartbusinessesdecisions.WhathaveyoudonetocontinuewithyourdevelopmentandhowareyouabletogofromcomingoutofcollegeandspendingayearortwoininvestmentbankingprogramtowithinjustafewshortyearsbeingtheCEOofacompanywithover4500employees,internationaloperations,hiring1000peopleamonthoraquarter.WhataresomeofthekeythingsthatyouhavelearnedandwhatwouldyousharewiththeotherentrepreneursandCEOsthatarelisteningherethatthesearesomeofthe1,2,or3corethingsthatIisaleaderofafast-growingbusinesshavedoneandwouldencourageotherpeopletodoiftheywanttohavethiskindofgrowth?

BryceMaddock: Verysimple,ImeanreallywhenIthinkaboutititisn'tthatIwasastrategicgenius.It'snoteventhatI'mparticularlytalentedwhenitcomestoanyofthebusinessthatwedonow.IstilljokethatIdon'treallyfullyunderstandstheoutsourcingbusinessbutwhatitcomesdowntoiscontinuouslylearning.IwasataneventearlierthisweekwhereDocRivers,whoisthecoachoftheClippers,wastalkingandinthetalkhewastalkingaboutthedifferencebetweenknowitallsandlearnitalls.UltimatelyyouhavepeoplewhoIthinkparticularlyaswegetolderthinkIamanexpertonthistopic,itmeansthatIknoweverythingthat

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Ineedtoknowaboutthistopic.IwilltellyourightnowIdon'tknoweverythingthereistoknowaboutanything.

UltimatelywhatIdoknowisthatIdon'tknowwhenI'mwillingtoaskquestionsandstayhumbleandcontinuouslylearnandI'msurroundedbypeopleeverysingledaywhocanteachmesomethingnew.EarlyoninthebusinessIusemypassion,myenthusiasm,mypersistence,mywillingnesstoannoypeopletojustgrabontothecoattailsofthesmartestpeopleIcouldfindandsuckthemdryforknowledge.Askhimquestions.ThisissomethingthatI'vetalkedaboutalotactuallyjustthepowerofmentorship.Acoupleofkeyindividualsearlyoninthebusiness,thereisaguynamedJamieSiminoffwhoisstilloneofmybestfriends.HehadstartedacompanycalledPhoneTag.

TheywereusingalotofoutsourcecustomerservicecentersandIwenttohimandwasliketeachmeeverythingyoucanaboutoutsourcing.TherewasanotherguynamedTomNadowwhoisoneofthemostbrilliantentrepreneursthatIknowandhasafurniturestoreintheUScalledNadowFurnitureinthechainofRamenshopscalledHatsuRamen.TheguyworkstwohoursamonthandisabletorunthishugecorporationssoIdidthesamething.IsaidTom,teachmeeverythingyouknowaboutentrepreneurship.OverthecourseofthenextfewyearsIcultivatedasmentors.IthinktheyreallyappreciatedthatIwaswillingtolistenandthateverythingthattheysaidimpactedthedecisionsthatIwasmaking.Ididn'talwaysagreewiththewaythattheywouldmakethedecisionsthateverylittlelessontheytaughtmeIthinkintegrateditintothewaythatwewerepursuingthebusiness.

Asthebusinesscontinuetoscaleandwecouldactuallyafforditwewentoutandgotourselvesexecutivecoaches,soCEOCoachingInternationalhasbeenahuge,hugehelp.WehaveworkedwithMarkMoseswho'sanincredibleexecutivecoachforthelastfewyears.Myselfpersonallyandnowheworkswithtwootherexecutivesinmycompany.Heleadsourquarterlyplanningsessionsandreallyit'slikehavingatherapist,it'slikehavingabusinesstherapist.Theyaretheretolistentotheissues,tounderstandyourperspective,andthenreallyquestionthedecisionsthatyouaremaking.Somuchofwhatwe'redoinginbusinesstodayisreallydrivenbyrelationshipsandsohavingsomeonewhoiswillingtoconfrontyouandsayyouregoisgettinginthewayhere,thisimpactingthedecisionthatyouaremaking,isreally,reallyhelpful.

Idon'treallyhave3piecesofadvice,Ijusthave1pieceofadvicewhichisverysimple.Itisbecontinuouslylearning,becontinuouslylookingforpeoplearoundyoutobeteachers.Don'tassumethatthosepeoplehavetobeolderandmoreexperiencedthanyouare.Thereareteachersallaroundyou.Justkeepaskingquestionsandkeeptryingtoimproveyourselfeveryday.

SteveSanduski: Bryce,yourbusinessreliesontechnology.Youuseityourself.Mostofyourclientsareinthehightechnologybusiness,manyofthemfirmslikeUberandTwitterandTinder,verymuchtechnologycompanies.Howdoyoustayontop

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oftechnologychangesthatareoccurring?Itseemsliketechnologyischangingatanacceleratedratesohowdoyoustayontopofthat?Howdoyouknowwhenokaythisisanewtechnologythatweneedtobeusingthisinourbusinessversusthatmaybeapassingfad.Let'sseeifittakesofffirstbeforewejumpintoit.What'syourtechnologyframeintermsofhowyouthinkabouttechnologyanduseitinyourbusiness?

BryceMaddock: Idon'tdoitaswellasIusedto.Idon'thaveenoughtimeandIthinkI'mgettingalittleold.Imeanyoumaywant...

SteveSanduski: C'mon,you'renot30yearsoldyet.

BryceMaddock: Theguy's29andhesayshe'sgettingalittleoldbutImeanI'mnotabigSnapChatuser,andIreallyappreciatetheproductbutIdon'tuseitatoninmydailylife.There'salotofnewsocialtechnologythatIjustdon'tfeellikeI'mashipto.There'sthisagebetween14and24andthat'swheremostoftherevolutionaryconsumertechnologyiscomingfromandsoIreallyinmybusinesslifeIuse1thingtoguideallofourtechnologydecisionsandthat'swillthismakeadifferenceonthefrontline?Isitgoingtomakeiteasier,morefun,moreengaging,moreeffective,moreefficientforthepeopleonthefrontlinetodotheirjobs?

Anexampleofthis,ahugemistakewhichwemakethecompany,asweimplementedOracleasourERPsystem.Massivedisaster.Youliterallycouldn'tgetaproductthatspecificmoreoftheemployeeexperiencethanOracle.

SteveSanduski: Let'sjusthopeLarryEllison'snotlistening.

BryceMaddock: IfheisIwanthimtocallmebecauseIwillgivehimdirectfeedback.

SteveSanduski: Larry,ifyou'relistening.

BryceMaddock: Wesurveyourcustomerseverysinglequarterandwedon'tjustgetpositivefeedbackwegetnegativefeedbackaswellandthatiswhereyougottofocusyourattentionbecauseyou'vegottorealizethisisanareawherewecanimproveandinmyopinionOraclehasgottenseriousareaswhereitcanimprove.We'relookingatotherHRASandATSsystemsnowthatwedeploy.GreenhouseisoneofthemthatImentionedandit'sreallyfocusedaroundasacompanyweknowthatweneedthesethings,check,check,check.Asanemployeehowcanwemaketheiruserexperienceeasier,moreefficient,morefun,evenmoreaestheticallypleasing?Allthosethingsreally,tothedecisionframeworksosimilartolearningIaskedalotofquestions,Itriedtoreadasmanytechnologyblogs,ItrytouseasmanyoftheseproductsasIcanmyself.Ultimatelywhenwe'regoingtoanRFPforassessingproductstoimplementintothebusinessthesimplequestionisisthisgoingtomaketheemployeeslifebetter?

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SteveSanduski: Bryce,aswewrapupherejustletmegiveyouafinalopenendedquestionhere.IsthereanythingthatIhaveaskedyouthatyouwouldliketoshareoranythingthatyouhavelearnedjusthereinafewshortyearsofyourentrepreneurialjourney,yourhugelysuccessfuljourney,thatyouwanttosharewithourlisteners?

BryceMaddock: Again,goingbacktothisDocRiversthing,Ithoughtthiswassogreat.Idon'tevenlikebasketballbutIwenttothiseventandjustgoingbacktothisDocRiversthinghesaidI'veneveraskedabasketballplayerdoyouwanttowinachampionshipandheardno.Everybodywantstowinachampionshipandsowhenyouthinkaboutyouremployeesthere'snotasingleoneofyouremployeeswhodoesn'twanttobesuccessful,doesn'twantthecompanytosucceed,doesn'twanttowin.Everybodywantstowin.Thedifferenceismostpeoplewanttowinontheirownterms.

WhathappensiswhenyousaytosomeoneheyIneedyoutoplaythisrolewhetherit'sIneedyoutobetheITguyandjustfocusonITorIneedyoutogetonaplaneandflythePhilippinesfor3monthsandfixthisissue,whathappensisassoonaspeople'spersonalpreferencesbecomeinconvenientit'swellIdon'twanttowinonthoseterms.Inbasketballalotoftimesit'sIdon'twanttowinifI'mnotthestar.Tomethishashadahugeimpact.It'snotjustthinkingaboutmyemployeesbutalsothinkingaboutmyself.WhatkindofsacrificeamIwillingtomaketomakesurethatwewin?HowfaramIwillingtosacrificemyrole,myego,myownpersonalpreferencesandcomfortstoensurethatTaskUsultimatelyexitsasavictoriouscompany?IthoughtthatwasareallyinterestingperspectivesoIwilljustleaveyouwiththat.

SteveSanduski: Itsoundslikeyouaredefinitelylivingthatbecauseyoumentionedearlyonhereasweweretalkingabouthownothingisbeneathyounow,thatyouknowyouhavetoleadfromoutfront,youhavetoletpeopleknowthatheyIamwillingtodoanythingatthiscompanytomakeitsucceed.

BryceMaddock: Yeah,it'sverysimpleforus.Weliketoflipthehierarchy.Worshipthepeoplewhoareonthefrontline,respectthepeoplewhoareonthefrontline,respondtotheemailsofthepeoplewhowereonthefrontlinebecauseultimatelythatiswhattakingthebusinessforward.

SteveSanduski: WellBryceIthinkthat'sagreatwaytowrapuptheshow.Reallyappreciateyourtimetoday.Greatpointsthatyousharedwithus.CongratulationsonthehugesuccessandI'mveryexcitedtocontinuetowatchyouguysgrowinthefuture.

BryceMaddock: ThankssomuchSteve.