In today’s episode of the Second in Command podcast, Cameron Herold is joined by Ben Zittlau, COO, CTO and co-founder of Parakeeto, shares his journey and the philosophy behind his business approach. Ben talks about equity and long-term gains in career choices, focusing on achieving financial freedom and enjoying the fruits of one’s labor. He shares his strategy of viewing businesses as systems, highlighting the significance of data in decision-making processes and the challenges of converting theoretical knowledge into practical applications.
Cameron and Ben discuss the specifics of Parakeeto’s operations, a company offering innovative solutions for digital agencies. Ben describes their dual model of consulting and technology, aiming to provide agencies with valuable data from their operations to enhance efficiency and profitability. He explains how their service-centric approach differs from typical SaaS models, as they use their services as a profit center to fund technological advancements. This strategy creates a virtuous cycle of profitability and efficiency.
They also explore various aspects of running a tech company, such as making decisions on whether to build or buy tools, handling custom development requests, and the dynamics of co-founding a company. Ben shares insights on the challenges and advantages of being lean and agile, the importance of cash flow over theoretical equity, and the value of diversifying investments.
In This Episode You’ll Learn:
- Ben’s approach to prioritizing long-term equity gains and financial freedom over immediate salary benefits in his career.
- Parakeeto’s unique business model, which combines software as a service (SaaS) with consulting services to enhance digital agencies’ efficiency and profitability.
- The complexities of translating data and theoretical knowledge into effective, practical solutions in the business world.
- The decision-making process behind building vs. buying technology tools, and how to handle custom development requests.
- The dynamics of co-founding a company, including role division, resolving disagreements, and the importance of complementary skills and values between founders.
- The benefits and challenges of maintaining a lean business operation, and the importance of cash flow management in a startup environment.
- Ben’s perspective on balancing the pursuit of equity with the need for liquidity, and the risks associated with over-relying on equity in private companies.
- And much more…
Get Cameron’s latest book “Meetings Suck: Turning One of The Most Loathed Elements of Business into One of the Most Valuable”
Get Cameron’s online course – Invest In Your Leaders