To be successful in business, whether founding a new company or climbing the ladder at one that’s already established, a person has to have a clear motivation. This is also true for a company. The question becomes: What is the strongest motivation for action? Is it ambition? Is it the desire for wealth? Could the answer really be… love?
On this episode of Business X factors, find out how a central value of love can motivate an individual and perhaps even an entire company. Jamie Farrell, the Chief Revenue Officer at Emeritus, explains how operating from a place of love is a core value of hers and how it may be a motivating force for Emeritus too. She chats about her own passion for education and how she determines if potential teammates have a sincere interest in learning. Jamie also discusses the importance of truly demonstrating to people that they are cared about through one’s actions.
Main takeaways:
- Love as Making a Positive Difference: There can be a tendency at both the personal and business level to avoid talking about love. Perhaps this is because defining love often feels like trying to hit a moving target. That said, an integral part of love is acting to care for others. Farrell explains that Emeritus’s Founder and CEO, Ashwin Damera, defines his success, and that of the company, by how many lives they positively change. Love can be an incredible motivator and it ought to not be dismissed.
- Placing a Number of Bets: Farrell describes how Emeritus’s business model is different from others. Some companies narrow in on one thing that they do well and then grow that particular business. Alternatively, according to Farrell, Emeritus adds new businesses to its fold to generate opportunities for more learners. Farrell points out that this does increase risk. Of course, greater risk can also mean more reward if the additional business bets prove correct.
- Global Affordability Plus Access = Success: From Farrell’s perspective lots of education companies talk about providing education at a reasonable cost while also increasing paths to learning. She points out that Emeritus does have a tiered cost for a number of learning products but she describes the mentality about language as breaking the typical mold. Emeritus turns its courses into a variety of languages so that learners all over the world can get involved. The takeaway here is that it is important to think globally and to meet customers on their terms and in their languages.
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