[C+] MARC BENIOFF | Salesforce [PRACTICE]

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cloud

[ kloud ]

noun

- networked computing facilities providing remote data storage and processing services via the internet.

Cloud storage has grown increasingly popular among individuals who need larger storage.

recurring

[ ri-'kur-ing ]

adjective

- occurring or appearing again

The woman was happy that her recurring cancer was in remission this time.

customer 360

noun

- a centralized and comprehensive collection of your customers' data

Customer 360 view helps financial services to be able to track the customers in real-time.

revenue stream

noun

- the various sources from which a business earns money

The company must create new revenue streams and cut operational expenditures.

equity

[ 'ek-wi-tee ]

noun

- the capital that a company gets from selling its shares rather than borrowing money

The company is considering raising part of its future capital requirements by selling equity to the public.

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FIRST CUT ⏱ 08:05 - 08:43

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Well you're a hundred percent right, there's really three things we said we were gonna do when we started our business. One was - you're right, focus on the customer. And say that every customer's gonna go through a digital transformation and these digital transformations are gonna start and end with the customer, and they're all gonna build these customer 360s. So number one, what we're gonna do is we're gonna build this cloud. Two, we're gonna have a subscription model, so you're gonna subscribe, not buy a license, so you know we're gonna have a deeper relationship with you, and that became a recurring revenue stream and that was a whole different type of business model for software.

Let's follow Marc Benioff...

Well you're a hundred percent right, / there's really three things / we said we were gonna do / when we started our business. // One was / - you're right, / focus on the customer. // And say that / every customer's gonna go through a digital transformation / and these digital transformations / are gonna start and end with the customer, / and they're all gonna build these customer 360s. // So number one, / what we're gonna do is / we're gonna build this cloud. // Two,/ we're gonna have a subscription model, / so you're gonna subscribe, / not buy a license, / so you know / we're gonna have a deeper relationship with you, / and that became a recurring revenue stream / and that was a whole different type of business model / for software. //

SECOND CUT ⏱ 08:43 – 09:15

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And three, we said you know we're gonna put 1% of our equity, 1% of our profit, 1% of all of our employees time into this 501(c)(3) charity. It was very easy because we had no equity, we had no profit, we had no time, we had nobody, but it turned in now we have 45,000 employees, 130 billion market cap so we've been able to have that stakeholder impact. And so yeah we've, you know that, that's why Salesforce is maybe a little different in that. Right from the beginning we said we want to do these three things this is really important to us.

Let's follow Marc Benioff...

And three, we said / you know we're gonna put 1% of our equity, / 1% of our profit, / 1% of all of our employees time into this / 501(c)(3) charity. // It was very easy because / we had no equity, / we had no profit, / we had no time, / we had nobody, / but it turned in now / we have 45,000 employees, / 130 billion market cap / so we've been able to have that stakeholder impact. / And so / yeah / we've, / you know that, / that's why Salesforce / is maybe a little different in that. // Right from the beginning we said / we want to do these three things / this is really important to us. //