Commerce Conversations

Why Culture Eats Strategy For Breakfast with Joe Bayen (Grow Credit)

Episode Summary

In this episode, Joe Bayen, a former track and field athlete turned entrepreneur, shares his journey from representing Cameroon at the World Championships to becoming a FinTech founder. Emphasizing the culture at Grow Credit, Joe discusses core tenets that drive his company and shares lessons in sustaining a positive work environment during remote times, including coaching up and addressing transparency limitations. The description of this issue takes inspiration from the Peter Drucker saying about culture competing with strategy, here we unpack how building an intentional culture from the beginning can be a business's strategic advantage.

Episode Notes

Background and Early Life:

• Born in Cameroon, moved to Paris at three.
• Studied in the United States, as student athlete in track and field.
• Achieved fifth place at French Junior Nationals in track and field.
• Represented Cameroon at the World Championships in 2003, faced injuries.
• Injured before the 2004 Olympics, ending his athletic career.

Transition to Technology:

• Met someone on a train working on procedural textures for After Effects and Photoshop.
• Joined Algorithmic as a business developer.
• Algorithmic acquired by Adobe in 2019.

Entrepreneurial Journey and Fintech Focus:

• Worked as an Entrepreneur in Residence (EIR) at Science Inc.
• Inspired by fintech trends, founded Lenny Credit in 2015 (micro-lending platform for students).
• Evolved into Grow Credit in 2018, offering a credit-building MasterCard for subscriptions and cell phone plans.

Culture and Leadership:

• Emphasized core tenets: high focus, high quality, high speed.
• Incorporated gratitude in weekly reports for positive momentum.
• Emphasized the importance of building a strong, positive culture.

Challenges and Lessons Learned:

• Challenges in sustaining culture during remote work.
• Consistency, positivity, and turning negatives into positives key to overcoming challenges.
• Importance of coaching up and leading by self-criticism.

Transparency and Limitations:

• Learned about limitations of transparency, especially with strategic partners.
• Stressed the need to be delicate and careful in information sharing.

Coaching Up and Positive Criticism:

• Coaching up by criticizing oneself first before others.
• Positive impact of maintaining a growth-oriented and positive culture.