Starting Something Big: Lessons From Mega-Entrepreneurs

LAS VEGAS – When he spun off Expedia from Microsoft, Rich Barton, Zillow Group co-founder and executive chairman, was able to attract the most courageous people to be part of his team. He took the same approach when he started Zillow, as did his Expedia partners Mark Britton, founder and CEO of Avvo, and Bob Hohman, co-founder and CEO of Glassdoor. At the Zillow Group Premier Agent^® Forum, an annual event that brings together thousands of Premier Agents, the three sat on a panel moderated by Amy Bohutinsky, Zillow Group chief operating officer, to answer questions about what it was like to be on a team led by Rich Barton and the lessons they've learned as mega-entrepreneurs.

You don't know what you don't know — and that's okay

Bob Hohman admitted that when he started out at Expedia, he led teams he 'had no business leading.' But he said not only did he have lots of help to run his portion of the business, Barton empowered him and all of the team members to reach their goals. Hohman stated that repeated exposure to growth environments, finding a mentor who set him up for success, and having the courage to rise after being knocked down contributed to becoming the leader he wanted to be.

People will follow you through the wall if you give them reason to

Mark Britton asserted that the key to keeping yourself and your team motivated is to share your passion and deep belief in what you're doing. Barton stressed the importance of having a dream, telling real estate agents to envision a wall off in the distance, and behind that wall is a mountaintop where they will stand with their team and say, 'We made it.' When Hohman underwent a survival training exercise with his son, he asked the sponsoring Navy SEALs how he could apply their approach to mutual accountability in a business environment. They told him it comes through suffering together: By showing his vulnerability — admitting that he didn't have all the answers and was sometimes wrong — he would demonstrate an 'in this together' mentality that his team could rally behind.

There will be fear, and that's good

All three entrepreneurs acknowledged that some days, you're the windshield, and other days, you're the bug. They agreed that any time you take on a project that no one else is doing, there will be a high fear factor. Nine days after he launched Avvo, Britton was sued in a nationwide class action lawsuit. His friend Barton reassured him, 'If it's not frightening, it's not important.'

Culture is crucial

Hohman recommended that real estate agents be deliberate and thoughtful about the company they want to create. The culture reflects your personal values; the people you hire should align with those values and reinforce the culture. Barton made it clear that a work-life balance was crucial to helping employees work better and smarter. 'Focus on family and things outside of work that are truly your legacy, and it makes you and your work that much better,' Barton said.