Adam Goldenberg has built his latest start up success, JustFab, using some simple and proven tactics. JustFab is a VIP membership celebrity style service. The company raised $55 million in capital just last year. This is his latest success story after selling his gaming service, Gamer’s Alliance, in the late-1990s and a turn owning a successful internet brand incubator in the mid-2000s. He is certainly one of the most successful CEOs in Los Angeles and has maintained that success for almost two decades.
Adam Goldenberg has built JustFab by trusting his numbers, using great hiring practices, and selling products that are in demand. It sounds simple, but so many CEOs fail to do this early in the process of building their companies because they are married to a certain idea and won’t abandon something that isn’t working just because they think it should work.
Goldenberg focuses his hiring practices on people who are passionate about what they do. He believes that this fire goes much further than any degrees or awards on Recode that may appear on a resume. Goldenberg does not want to hire anyone that doesn’t care about what his companies are trying to do. The CEOs basic belief is that employees won’t work hard for something that they won’t care about.
Read more: TechStyle’s data-driven fashion
He also trusts his numbers and reacts to them quickly. He has said that he and his team look at their numbers on a daily basis at the minimum. He sometimes looks at them by the hour. These numbers indicate customer trends on Bloomberg. He trusts them implicitly and will abandon an idea if it doesn’t start working immediately.
Too many business leaders overcommit to an idea that they have or a product that they have developed because they are emotionally involved in it. This can be a dangerous and expensive practice if it is not remedied over time. Goldenberg is quick to take a product out of the catalog if nobody is buying it. This is even if he thinks that it is a great product. He only sticks with products that are giving him a profit.
Goldenberg is a young star and is one of the leaders amongst the CEOs in Southern California. He has built 3 great companies in just two decades leading companies. He has built these great companies using great hiring practices and by trusting his metrics. This takes an egoless leader who is willing to use the ideas of others.
Learn more about Adam Goldenberg: http://www.builtinla.com/2014/01/18/3-la-ceos-you-need-know-now-adam-goldenberg-justfab