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Eric Siu's company dropped annual churn from 83% to 9% in a year by hiring the right team. He credits the turnaround to three principles: patience with long-term outcomes, engagement with daily work, and focus on the vision.
Eric Siu's company dropped annual churn from 83% to 9% in a year by hiring the right team. He credits the turnaround to three principles: patience with long-term outcomes, engagement with daily work, and focus on the vision.
I think just a couple years ago, man, you know, one of our service lines, we had 83% churn, which means we lost 83% of our customers on an annual basis, right? This year it's 9% for that service. And that's a testament to the team, that's a testament to having— this is why it's important for you to focus on recruiting if you're gonna build a great company, 'cause everything's about people at the end of the day. And so I shared that with the team, we talked about some other wins through the year as well, but More than anything, I said, hey guys, like, as long as we stay patient, as long as we stay engaged, and as long as we stay focused, we're gonna get everything that we deserve and more. And, you know, conventional wisdom, conventional wisdom, conventional wisdom when you're in your 20s tells you that, oh, you should get results next year or the year after, you want results quickly. And the reality is, yes, you should act quickly with your actions and be impatient with them. But when it comes to long-term, when you think about outcomes, you should be extremely patient with your outcomes.
