Avi Steinlauf, CEO of Edmunds.com shared about his results-only work environment (or ROWE) and how Trust plays an enormous role in their company, driving innovation and creativity. To take a company formed in the 60s and keep them relevant this entire time is quite an accomplishment!
Edmunds.com is the quintessential startup – a privately held, family-owned business that has grown exponentially through the years. From printed car price guides in the 60’s to the car industry’s first internet site in the 90s, to the leading car information and shopping network today, they have been helping car shoppers discover, find and shop for the car that is right for them via a series of first-to-market mobile products and solutions.
Steinlauf says being privately held has been crucial to Edmunds’ success. When you don’t have to worry about impact per quarter and you are in charge of setting the rules, it is liberating. It frees his teams up to be nimble and grow; by testing and failing and to focus efforts on bringing a series of industry firsts to market.
Steinlauf also happens to be one of Glassdoor’s Top Rated CEOs – which is particularly special because it’s based on voluntary feedback from my colleagues.
Learn More About Avi Steinlauf
Avi’s team also sent over the TRUST acronym at Edmunds. (I was surprised but delighted they had this available to us!)
Letter From Avi Steinlauf:
TRUST: is a universal theme. We bridge the gap of trust between car shoppers and dealers; making it easier for car shoppers to buy and for dealers to sell. Reinforcing trust in that relationship is a necessity for improving the car shopping process, which still isn’t always as easy as it needs to be. Our ability to listen, gather and put ourselves in the shoes of our customers has established us as a trusted and crucial partner, and one that is actively shaping the car shopping landscape today. I
TRUST has also become an acronym to describe our values and helps define our positive company culture today. TRUST stands for:
Transparency, Resourcefulness, Urgency, Simplicity, and Togetherness. Our embodiment of TRUST has helped us continue to push ourselves and cement our position as a nimble, innovator and force within the automotive industry.
At Edmunds, we operate in a Results Only Work Environment (ROWE). This gives employees the freedom to set a work/life balance that works for them and puts an emphasis on delivering results. By letting employees set their own schedules, they are empowered to explore their creative inspirations both inside and outside the physical office environment.
It all can be summed up in 3 key lessons:
- A focus on the long game, while not always popular, will reap great rewards.
- How you think about and approach your customer will radically impact growth or prioritize the value you deliver to your customers alongside your revenue goals.
- Identifying a value system that can be universally applied to all aspects of your business, will cement your company’s position as an asset the marketplace can’t live without
Don’t miss my interview with Alistair Weaver, Edmunds Editor in Chief.