You're an Editor
Dorsey: The biggest thing for all startups — it's really easy to consider any hire as the length of the entire company. Leaders of companies have to consider themselves editors. You constantly have to edit the team. You constantly have to make sure you have the best people in.
If there's any negative attribute within the team — person, element, or otherwise — you have to part ways and deal with it right away. You have to say — this is the best thing for the company. To be fair to both of us, it's just not the right time.
Leaders have to consider themselves editors. If there's a negative attribute, deal with it right away.
Twitter's Biggest Mistake
Dorsey: With Twitter, we grew very slowly and we didn't edit the team in the best way. We didn't get out of the way of ourselves often enough. That's something I would never do again.
We didn't edit the team in the best way. We didn't get out of our own way. I'd never do that again.
Focus on the Data
Dorsey: What I would encourage every entrepreneur to do is really focus on the data. Really focus on the analytics. Really focus on how people are using the system.
We have a dashboard at Square. And we have a metric — how many times do people actually look at that dashboard to see how the company is doing? Because that speaks to how much people care. You need to have an understanding of the momentum of what you're doing and where you're going. You can only do that with data.
How often do people look at the dashboard? That speaks to how much they care about the company.