Be a Painkiller AND a Vitamin

Listen: http://listen.mastersofscale.com/ClaraShihLI

This morning, my new episode of Masters of Scale is going live — a milestone for any founder and especially for me, as it’s one of my favorite podcasts! I loved talking with Reid about my journey as an entrepreneur, the insight (actually, the two insights) that led me to co-found Hearsay, and how we handled a pivotal moment in Hearsay’s growth: a time when we faced an existential risk to our business. I talk about how, instead of running from this risk, we embraced it — and in fact made it the core of our business today. 

Reid and I recorded our episode early on in the Covid pandemic (as it turns out, I was one of the first guests to use Masters of Scale’s famous remote recording kit). Our conversation focused on evergreen lessons and theories, insights that will be relevant for leaders anytime, no matter when. 

But of course, I’m thinking how these insights apply right now. Because these certainly are times of existential risk. 

The theme of my episode is: Be a vitamin and a painkiller. It’s based on one of my favorite metaphors. Think about a vitamin — it's a nice-to-have. When you remember to take it, you take it. If you don't take it on a particular day, you usually don't even notice — but over time, when you take your vitamins, you do feel better every day. Now, a painkiller? That’s when you have a major issue, you have a burning platform, you have to take care of it right away. Every moment that you don't take care of it, you're at risk. 

The conventional wisdom is you can choose to build one or the other, but I believe that a great product does both: solves that burning problem right away ... and makes you a little bit stronger to face tomorrow. Hearsay started as a vitamin (social selling), accidentally uncovered and addressed a huge pain point (compliance), and turned that into an even bigger vitamin (human-first digital).

This metaphor is relevant today when we think about the products being created at this moment. Everyone with an entrepreneurial mindset has been watching with interest as these new markets develop. Face mask makers. Food delivery services. Virtual conferences. Parents’ collectives to organize virtual classes and pods. We’re all serving as one another’s painkillers right now – creating products and services that keep us safe and connected. 

But the standout products in this new market? Not only are they saving us pain, they’re also making us a little bit better. A little happier, a little more resilient. I look at a company like Second Wind, a small mask-maker in New York. This team of women created a custom mask design with a stylishly long decorative chain -- adding a dash of verve that turns the mask into an upscale fashion statement. Is this product a painkiller? Yes. A vitamin? Also yes. 

If you look around, you can start to see this in your own communities. Scroll through your Instagram and LinkedIn feeds, look for new Covid-inspired products, and do this exercise: Is this product a vitamin or is it a painkiller, or could it be both?

Our economies have been changed by this pandemic, and when it ends, they will not look the same. Lots of the products and services we need now are painkillers: Right now they’re vital, life-or-death, but when we don’t need them any more, we won’t use them any more. On the other hand, the things we’ve grown to love during this time, the things that make us better, happier, stronger ... we’ll make an effort to keep those, even after. Whether it’s your new Peloton, or a delivery service that’s a delightful improvement over schlepping to the store, or a new habit of checking in with your social networks more often and being more genuine when you do. Those are our vitamins.

So my advice on how to thrive throughout this time and afterward -- it turns out, it is the same advice I’m giving Reid and our listeners today. Figure out how to be both a vitamin and a painkiller. Solve an immediate need, and make all of us just that little bit better too.

My favorite previous Masters of Scale guests and episodes, which have helped me lead through difficult moments and inspire me to think differently: 

• Liberating the human spirit, Robert F. Smith (Vista Equity)
• Build a more human Internet, Caterina Fake (Yes VC, Should This Exist?)
• How to do good– and do good business, Howard Schultz (Starbucks)
• Escape the competition, Peter Thiel (PayPal)
• Culture shock, Reed Hastings (Netflix) with cameo appearance by Jeff Weiner (LinkedIn)