Today, a bit on vulnerability, humility, and psychological safety at work. Plus, the future of billing—the backbone of any B2B SaaS. And finally, the latest in car subscriptions. (Yep, still a thing.)
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What are we without feedback?
And Webflow’s Head of Diversity, Equity, and Inclusion, Mariah Driver, is proud to point this out.
She took to Twitter this week, inspired by Vlad, to talk about leaders creating an environment of psychological safety—and to remind us that those who aren’t doing so, are failing to unlock the potential of their teams.
Because a study over at Google found that psychological safety is the key to high-performing teams.
Psychological safety is a belief that one will not be punished or humiliated for speaking up with ideas, questions, concerns, or mistakes. And in business, Mariah knows there are multiple ways to implement it. Here are a few:
In your next team meeting, tell your reports exactly what you want to improve on as a manager (based on annual reviews, feedback, or the like). Then ask your team to hold you accountable for growth in that area with a specific request for feedback and the actions you’ll take.
The specificity here is key, she says. If you simply ask your teams for feedback with no specificity, the fear of giving the wrong feedback and offending the person in charge of their paychecks (namely, you) overrides their willingness to provide the feedback that can help you grow as a leader.
A template she’s used successfully with reports in the past:
“When I ______, please do/say/ask _______ and I commit to _______.”
This statement holds you accountable for walking the talk and enables your reports to safely provide feedback, knowing they'll be genuinely rewarded for it.
And be sure to tell your team what their growth looks like. For example: "In six months, I will know that I have grown/improved in this area when [something happens].” In six months (or whatever your timeline is), go back to that statement. If you’re there, you know that the way you’ve solicited feedback and acted upon that feedback has worked.
If you’re not, check the feedback you’re asking for and the commitments you’re making and try a new approach. Because as we’ve preached time and time again, feedback is everything for us here at ProfitWell, it is essential, and it is NOT negotiable.
"Psychological safety, above all, is an effort to grow teams that trust each other to experiment without judgement, voice opinions without being shamed/punished, and fail without being labelled a failure."
How do you support psychological safety in the workplace? Or is this something you're aiming to improve upon? Send me a note at firstname.lastname@example.org with your thoughts so we can continue this discussion.
The backbone of B2B SaaS
On March 5, we’re going live and beyond subscription with the Chargify crew—and we want to take you with us.
We know and love Chargify as the subscription billing platform built directly for B2B SaaS. And they know that the future of B2B SaaS is looking pretty good.
The evolution of billing has clear and defined milestones, with new ideas periodically disrupting the market to build a world of better billing. And now, the Chargify crew says it’s time for a new milestone.
So on March 5 they’re taking to live stream to unveil what’s next for billing, with a product drop you’ll be pumped about. We can’t reveal the details just yet, but we can promise you they’re good.
Plus, our very own pricing pro Patrick will be on a panel of four to chat B2B billing, and what Chargify’s new update will revolutionize for subscription billing moving forward.
Here's your link to snag your spot.
Subscription transportation heats up
We’ve debated this before on the show: Are car subscriptions really just a fancy lease?
But we’ve debunked that thought. A subscription bundles the cost of using the car itself, with expenses like insurance and maintenance bundled into the monthly payment without the long-term commitment of leasing, revolving around the notion of “temporary ownership”—namely, a shared mobility service where customers can access a vehicle by the month. This fulfills a long, unmet need for a market that seemingly really wants it.
Leasing is actually a “simplified” form of subscription, according to Zuora, one that doesn’t allow the customer the choice of different vehicles for different occasions and, more often than not, places the onus on the driver to maintain the vehicle.
The latest company in the game: Nissan. And with this subscription, you can apparently test out a new car every. Single. Day. It sounds a bit like overkill, but it could be the appeal to stand out from the rest. Car companies have been experimenting with Netflix-style subscription services for over a year, The Verge reminds us, as they seek to appeal directly to their millennial consumer base, who are less inclined than previous generations to own or lease their own vehicle.
It’s all about knowing and mastering your market, so we’ll have our eyes peeled to see how Nissan does among the competition.
What are your thoughts on the rise of subscription vehicles? Have you tried any out yourself? I am super keen to hear the take of someone who's actually tried this method. Feel free to send me your input (whether you're on board or not) to email@example.com and we’ll chat.
Feedback can be challenging, as it feels inherently personal and can fuel all the not so great emotions: insecurity, vulnerability, anger. Yet, as we see so clearly here, it has to be faced—and, if utilized correctly, it can be one of the most critical factors of building a company.
That’s it for your February 26 episode of Recur Now. Check back here tomorrow for more, and don’t hesitate to reach out to me at firstname.lastname@example.org, if you have news to spread, or input on any topic we hit.
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