For Annual Planning, Investing Beats Budgeting
Hi everyone. I wrote this piece on how, at ConsenSys, we've used principles from venture investing to come up with a better budget process. One that gives teams more flexibility and autonomy, and is more transparent for the org. It was designed to help us do budgeting in a way that supports our broader desires to decentralized the company.
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Earlier this year, I wrote about VkusVill, the Russian supermarket chain that is reinventing the retail industry. The Russian pioneer proves that you can rapidly scale a profitable chain of retail shops by letting frontline employees make all the important decisions. They do this with impressive results; the company is not only growing rapidly (CAGR 40%), it also manages to keep bureaucracy and hierarchy to a minimum, as upper management accounts for less than 10% of the total payroll.
Today marks an important day in Corporate Rebels’ vaunted history: We're embarking on a new adventure to radically shake up the world of work. How? We're launching a new company together with some of the most inspiring workplace pioneers in the world.