This Entrepreneur Raised 00 Million To Help Companies Reduce Inefficiencies
When David Pennino finally achieved his goal of starting his own business his former employers were so scared of his success that they went to extreme lengths to stop him. During his appearance on the Dealmakers Podcast, Pennino talked about what to invest in as a business, and not, the dangers of phantom equity, the value of mentors, and the crazy lengths your competition will go to if they fear you. Plus, the benefits of bringing in fresh investors and board members, as well as the increased profitability of fewer meetings.
When David Pennino achieved his goal of starting his own business, his former employers were so scared of his success that they went to extreme lengths to stop him.
During his appearance on the Dealmakers Podcast Pennino talked about what to invest in as a business, and not, the dangers of phantom equity, value of mentors, and the crazy lengths your competition will go to if they fear you. Plus, the benefits of bringing in fresh investors and board members, as well as the increased profitability of fewer meetings.
Listen to the full podcast episode and review the transcript here.
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- 1. Growing Up in Connecticut
- 2. What Businesses Should & Shouldn’t Spend Money On
- 3. When Competitors Fear You
Growing Up in Connecticut
David Pennino grew up in Connecticut. A place he says has an incredible talent pool as well as access and family activities. From there you can quickly be in Boston, DC, or New York City, or catch a flight to Europe. Then you have the coast, mountains and skiing not too far away.
It is also where he began his career working for Gartner. He was thrown into sales, and quickly scaled the ranks. By the time he was 22 years old he was rewarded for his performance with a trip to Thailand. There he missed the boat back, only to find the CEO was also in the same situation. That led to a great mentorship relationship. The CEO challenged him on his goals. He nailed it, and was able to continue to grow in the company, and work directly with top leadership. He calls it his own international business MBA.
Pennino was eventually tasked with handling the company’s largest account, IBM. He was fascinated with how they had built their global professional services business. Not unlike what Accenture had achieved in finance, and others in HR. He began to wonder what other opportunities there were to build a category leading enterprise.
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What Businesses Should & Shouldn’t Spend Money On
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