• Fearless Collective

The road less travelled.

Countless times in our short life, we have had conversations about being Fearless, being brave and taking the road less travelled. When you get to the fork in the road at a critical time in business, what path do you take and what journey should you be on.

Our inspiration comes from being brave and fearless and having the balls to make difficult choices. It is also when look to others to be inspired. The story of Dan Price, CEO of Gravity Payments. In a discussion with one of his employees, Price discovered a pissed off employee having a cigarette and asked him what was wrong. The employee told him he felt he was being ripped off, not earning enough to meet his basic bills and had to work a second job. What happened next is spawning a phenomenon.

Price could have fired the guy - instead he doubled his salary to $70,000. Then he went to all of his staff, and informed them all they would all have their salaries increased to $70,000. Then he took his $1.5M salary, and reduced it to $70,000. Media outlets like Sky News called him a socialist and a marxist and commented on how spectacularly his business would fail. It didn't.

Those staff are buying houses, increasing their pension and super (401k) and everyone of them is thriving. The reaction was like a tsunami, with half a billion social media interactions (and counting) about the story. Its being talked about in MBA studies in major universities, film companies are trying to option the story. The then 31 year old Price, a long haired dot com fintech guy who looks like he should be riding a skateboard or playing late nights in a rock band, has become a sensation. Heck they even talk about the Dan Price Experiment as a thing.

Price took a gamble - a huge financial gamble as it tuned out - and the end of this story is not yet told. But his staff - they love coming to work. Price, still on his $70k per annum, he loves Mondays the most.

Price showed he was willing to put his integrity on the line, to be fearless, to have the balls to take that other part of the fork in the road, take the one less travelled. He didn't do it for him but for his team and the success of his business. Everyone knows his name, they understand who he is and what he did. The value of his business, if it goes up, it's still going to make him rich. If it goes down, that's really the moral of the story.

Not everyone can double staff salaries or make this kind of incredible change, but when you show the team you value them, in whatever way you do, you are showing them you care, They will give you more and everybody wins. It's worth looking down that road less traveled and asking if you are fearless enough to take it.

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