- Core Values Are Added Value
When it comes to hiring, Spencer looks for one’s core values, rather than their expertise in a subject, as it’s those with strong core values that add value to the company. Also, company culture is important, but it’s not about whether someone culturally fits within the company, it’s about how much they agree with the company’s mission and what they stand for. It’s been proven, that even with a small team, having the right motivated people could benefit you more than you know.
2. Let Your Challenges Define You, Not Your Failures
Companies and humans will constantly face challenges, it’s inevitable. Failures are normal as well. There will be economic shifts, natural disasters, and countless of situations that we can’t control or even be fully prepared for; however, it’s how we respond to these challenges and how we can take advantage of certain opportunities. Spencer Rascoff had faced various challenges such as his former company, Hotwire, post September 11. He downsized the company, responded urgently, and adapted to the new consumer travel habits. Spencer also faced the crash of the housing market after the last major recession, where his company Zillow, could’ve went either route depending on the choices made. Spencer had added to the product, making it valuable and a solution for many consumers. So, when you get hit with a difficult challenge, take it as a compliment, as you can handle it and things will turn for the better if you respond accordingly.
Spencer believes the best trait a leader could have is empathy. It’s about treating people kindly, whether they’re customers or employees. This comes with giving freedom of choice and trusting a coworker and seeing which areas could be of best fit to them. Being empathetic opens your lens and widens your scope to new ideas and understanding people more.