"Bend"ing Rules - Dan O'Day leaves Thompson Reuters to start ECFX, 5 years later the business is thriving; learn more about raising money, earning a customer's trust and jumping in with both feet
Description
Intro: It’s never too late to start a company, but in some ways it’s likely more difficult the longer one waits to take the proverbial jump, especially in the event you reach the “golden handcuff” stage as our guest, Dan O’Day, did when he became a VP at Thomson Reuters (TR), where he spent the better part of twelve years. TR, for those that aren’t as familiar with, is a company with a global presence and over 25,000 employees, and as of September 2024 was the 250th most valuable company in the world by market cap. However, those
circumstance didn’t stop Dan from following his dreams, as he jumped both feet in (let’s just say after the age of 45) to start ECFX in 2019 and not only managed to navigate his start-up through Covid, but five years later the company is growing quickly, has ~35 employees and millions in annual revenues.
2:52 -- Dan's entrepreneurial origins
6:47 -- Leap from corporate world, taking advice from mentors
12:20 -- Intrapreneurship doesn't always work
15:06 -- Raising money and managing expectations:
"lighting a garbage can of money on fire"
21:16 -- Management style in today's employment market
30:13 -- Navigating the mid-stage cycle and journey now five (5) years in? What are the key aspects to balance now? What's the rule of 40?
51:12 -- What keeps you up at night, now that you are 5 (five) years in and have dodged the start-up cycle of death in first couple of years?
1:02 -- Perfect is the enemy of the good
1:05 -- Dan's top books for business owners
United States
