"It’s an extraordinary achievement against significant odds for a company to thrive for 25 years – less than 20 percent of businesses make it past 20 years."
-Jay Vogt, Founder, Peoplesworth

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In this milestone episode of 5 Minutes with Andy, host Andy Freed, CEO of Virtual Inc., is joined by Jay Vogt, organizational development expert and founder of Peoplesworth. As Virtual Inc. celebrates its 25th anniversary, Andy and Jay reflect on the journey, sharing insights into the challenges faced and the strategies that led to success.

Tune in for expert perspectives on:

• Why some companies thrive while others falter.
• The critical role of vision, culture and adaptability in long-term success.
• Essential strategies for building a resilient organization that stands the test of time.

Whether you're an early-stage entrepreneur or a seasoned business leader, this episode provides essential insights for building an organization that not only survives but thrives for years to come.

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Andy Freed (00:03 – 6:20)

Hello and welcome to Five Minutes with Andy. My name is Andy Freed. I'm the CEO of Virtual Incorporated. For 25 years, we've been helping standards organizations, technology associations, and associations in general, as they look to grow and exceed their expectations. Today I am joined by Jay Vogt. Jay's been our partner for the last 25 years in helping our organizations and helping the organization of Virtual as we've looked to meet and exceed expectations. Jay, thanks so much for joining us.

Jay Vogt

My pleasure, Andy. And congratulations on your 25 years.

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Andy Freed

Thank you so much. And we are now actually with this week at a 25-year anniversary. And Jay, you've been instrumental in getting us there. And yet I could never really describe what is it that Jay Vogt does. So, let's just start with that. What does Jay Vogt do?

Jay Vogt

Well, I'm a support to organizations that are trying to create their future and do it in a collaborative way. So, I facilitate meetings and retreats and we've had quite a few of those over these many years.

Andy Freed

We sure have. And as we hit our 25th birthday, I'm curious, because I know that you're kind of an expert in small companies and companies that are growing. Is getting to 25 common? Is getting to 25 just, you just need to stick around for 25 years or is it something that not every company does?

Jay Vogt

Would that it would be so easy. So, imagine there's a hundred people standing up in a field with next to chairs and they represent business startups all at the same time. In the first year, 20 of them sit down and 80 are still standing. That's a pretty big hit. Five years later, half that group of people sitting down. Companies failed. The other half are still up. Ten years, you've got 65% of the group is sitting down. They failed, 35% left. At 15, by the time you get to 20, the first year has completely flipped, Andy. 80% of those 100 companies are sitting down, only 20 are left standing. By 25, it's 17 out of 100 are still with us. It's an extraordinary achievement against a ton of odds.

Andy Freed

Yeah, and certainly there's been a lot of adventures along the way for us and you've helped kind of guide us through those. I'm curious though. What are some of the lessons to take away from this? Like why do some of those companies wind up standing at the end and some don't, and what lessons can listeners take away from that?

Jay Vogt

Well, I think you've always tried to articulate a clear vision and you've worked really hard to achieve it. You've cared a ton about culture and you've expressed that through having a clear mission, five pillars that drive the business, clear values, a clear definition of leadership. I think you've always cared about culture. In fact, you were named best place to work along the way. And that's something that's been really important to you. You've kept it fun. That's something that's important to you. Virtual has been willing to take risks. It's been willing to invest in order to grow. And you have passed through the years when your founder led the company and you've now led it into a new generation, which is a really tough job to have and a tough act to follow. And I'd also say that you've been willing to admit your mistakes as a leader along the way and take action to correct them. And you show up as an authentic leader. It's like who you are, who you show up as is who you are. And people in your company can count on you for that.

Andy Freed

Well, Jay, I really appreciate that. I appreciate the kind words for our company. And I'm curious if somebody was listening to this and it's year five and they're still standing up in that field. What's the takeaway you would have for them of what they should be thinking about to make it to 25?

Jay Vogt

Well, one of the things that's most inspired me about your leadership and the company's mission is it wants to make a mark on the world. And it defines its success in terms of the success of its clients. And early-stage entrepreneurs are just trying to survive. They're trying to get through payroll, trying to get through to the next quarter. But you've always had that big picture vision that that creates meaning for you and for your clients and for your employees. And you have to have both. You have to watch that bottom line. You have to watch the cash flow and you have to have a vision that's long-term and inspiring, and Virtual's done both.

Andy Freed

So, what gets us to the next 25 years?

Jay Vogt

One day at a time. I think that those things that have gotten you this far will continue. There's sometimes a company reaches a plateau and what got them to a certain place isn't what gets them to the next place. But I think your willingness to grow, to go international, you have patience, you've sought out patient investors who are willing to back you as you continue to innovate and take risks. Those are things that will serve you well the next 25.

Andy Freed

Well, Jay, I appreciate the role that you have played with us as we've kind of gotten through our first 25 years. Look forward to you continuing to play a role as we continue to grow. We won't make you sign up for the whole 25 of the next 25 but appreciate the role that you've played in our growth thus far. And certainly, look forward to what the future holds for us and hope that there are some lessons that folks can take away from the 25 years that we've spent doing this. And as they look to build, grow and exceed their expectations themselves. Jay Vogt, thanks so much for joining us and thanks very much for being a guide as we've gotten through the first quarter century of the Virtual adventure.

Jay Vogt

A pleasure and an honor. Thank you, Andy.

Andy Freed

Thanks so much for spending five minutes with us today as we talk about the 25 years that we've spent with our clients and our staff. Appreciate your time and I hope you got something out of this.

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