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Face to Face: An Interview with Drew Conway The Drew Crew Our writer sits down with Drew Conway, Wellesley resident, philanthropist, and entrepreneur extraordinaire.
Drew Conway: Well, I was the first one in my family to go to college. I came from a long line of cops and priests. In fact, my father was a New York City cop. He’s gone now, but he was and still is my role model. No matter how hard he worked, he didn’t miss out on any part of our childhoods. He coached, he went to all our games...and I do the same. I don’t want to miss a thing that my kids and their friends are doing. WWM: How is that possible? You’re the CEO; don’t you have to be on top of all things corporate, all the time? DC: I do most of my work right here, from Wellesley. And let’s just say I’m an efficient traveler. I like to keep my trips short, two nights or less, and I make sure that I don’t travel every week. I like to maximize family time. WWM: Let’s back up a little bit. You’ve started two—well, two-plus—remarkable companies, whose corporate headquarters were or are right here in Wellesley. Tell us about those companies, and then let us in on what the new one is about. DC: The first company I started [Registry Incorporated, later renamed Renaissance Incorporated] specialized in business and technology consulting. It was a great organization. We believed in treating our employees as if they were customers. As a company, we gave to over one hundred and fifty charities. We had a program called “touching people where we live.” There were 42 US offices, and through this program, each office could choose a number of small, community organizations to support. Then the company would follow up, and further support those organizations. WWM:
What happened to Renaissance?
Sounds like a great
place to work. DC: At our peak, we had
over six thousand
employees worldwide,
and it was a great
place to work. That
was very important
to me. Once it went
public though, running
the company just wasn’t
as much fun. The company
that bought it broke
it up into pieces,
and the corporate
culture, which had
been focused on respect,
empowerment, and philanthropy,
was lost.
DC: The secret is simple:
you consistently hire
great people. And
you do have to grow
a corporate culture
from the ground up;
I don’t
think it’s
something that you
can retrofit into
an existing company.
The company and the
culture need a stable,
strong foundation,
just as a building
does. You can’t
try to do it all on
your own. You’ve
got to have a motivated
group that shares
your vision and takes
pride in making the
company better, as
opposed to simply ‘doing
their jobs’ and
then just leaving. You’ve
got to hire great
managers who share
your vision and concept
of how the company
should work. A great
company comprises
great people. Really,
there aren’t
any shortcuts. There’s
no formula. Different
CEOs have different
personalities, different
approaches. Mine was:
you foster an ethical
culture, you keep
people—especially
key employees—talking
about it, and that
culture gets preserved
and passed on. You
end up with a place
where every employee
can stand up and
be proud of what the
company is doing. WWM:
Why don’t
more companies
seem to get that
right? DC: I think a lot of companies
are more focused on
short-term goals.
Fast growth is what
people want, so they
don’t
spend enough time
and resources on the
company’s
cultural foundation. WWM:
You make it sound
easy, but we know
better. Can you also
tell us another secret?
How do you make those
consistently great
hires? DC: We had a multi-phase
interviewing process
for every employee,
not just those at
the top. The candidate
would meet with a
variety of groups
and individuals a
total of six times,
and none of us would
share our thoughts
[about the candidate’s
suitability for hire]
until the end of the
process.
DC: Well, the baby boomers
are aging, and they
need more health services.
There are fewer nurses,
but demand for them
remains high. I do
think that it’s
a good idea to start
a company while that
company’s
industry is in a growth
phase. Two years ago,
I started another
company that’s
part of the Sagent
group as well: Sagent
Partners, which provides
IT [Information Technology]
consulting to the
federal government
and government contractors.
That company now has
sales offices in L.A.,
Austin, and Virginia,
but its corporate
offices are here in
Wellesley, too. WWM:
Why do you choose
Wellesley both as
your home, and a place
to do business? DC: Wellesley’s
a beautiful town with
a very good school
system. I think the
people here are interesting
and friendly, and
Wellesley has a nice,
close-knit business
community. Having
my office here allows
me to have flexibility
when it comes to attending
the kids’ sporting
events and other activities
at school. Frankly,
I’ve
never been a big fan
of a long commute
and spending all that
time in traffic. It’s
very unproductive. WWM:
Tell us about your
newest Wellesley-based
venture. It’s
not quite so corporate,
right? DC: Right, it’s
an exciting change
for me; my first retail
company. It’s
called Island Issue.
We make men’s
and women’s
sportswear “for
those who enjoy life.” It’s
geared toward travelers,
especially those who
go to resort areas.
The clothes are easy
to pack, and made
of luxury fabrics
like 100 percent organic
cotton and merino
wool. It’s
a fresh, new, versatile
brand with a good
value-to-price point. WWM:
Okay…but
what about your theory
that it’s
best to start a company
when the industry
is in a growth phase? DC: Well, it’s true that starting a clothing company right now, while we’re in the teeth of a recession, might not be the best idea! But everyone needs a challenge and sometimes, starting up in a recession can be good. Customers may reassess their current suppliers. A new company has no market share to lose. During a recession, shoppers need a compelling reason to buy. Our clothing is made to be self-wicking, temperature controlling, and natural. That’s of great appeal right now.
WWM:
How did you come
up with the Island
Issue concept?
It’s
so different
from
the Renaissance
and Sagent Healthstaff
models that you
worked on before. DC: All of us…my
wife, my kids, were
on our boat in Martha’s
Vineyard, and we were
thinking how neat
it would be to start
a clothing line just
for times like that,
featuring comfortable
natural fabrics in
soft island-y colors.
Starting this company
has been a great way
for me to engage my
kids. They’re
a wonderful resource—the
boys and the girls—for
trends in clothing.
And we can employ
them and their friends,
and provide internships.
It’ll
be there for them
when they graduate;
maybe they’ll
still want to be involved.
Community service
is important to us
as a family, and it’s
an important component
of every company that
I’ve
been involved with.
So as we go forward,
Island Issue will
have that social give-back
component, as well. WWM:
Who are your target
customers? DC: Every guy who has
a favorite sweatshirt
that he loves. Every
woman who wants a
stylish, comfortable
wrap that can go everywhere
she does. We want
Island Issue clothes
to be those pieces
they reach for again
and again. We want
our customers to feel
like they’re
on vacation when they’re
wearing our clothes. WWM:
And what about the
corporate culture?
Will Island Issue
have one similar to
Renaissance? DC: We definitely want to find ways to use the company in a positive way, getting kids involved, sponsoring events, and donating to good causes.
DC: Locally, we’re
going to be available
at E.A. Davis. It’s
a well-established
store, very well run,
has an innovative
and creative high-end
selection, it’s
customer-centric,
and at the same time,
it’s
really community-oriented.
We think E.A. Davis
is a great fit for
Island Issue clothing.
We premier the spring
line there on February
first.
DC: I don’t
like hierarchies.
They create barriers
and walls. In these
companies, we don’t
have titles or cards.
That inspires loyalty,
nurtures people, and
reinforces what’s
important. One of
the great responsibilities
of running a company
is offering opportunities
for personal and professional
growth to all of the
employees. WWM:
I always like to
ask about what people
are reading, or
to suggest some
relevant books.
Since we’ve
been talking about
business, what
books can you recommend
on the subject? DC: I can think of three
that stand out. One
of my favorites is
The Art of War by
Sun Tzu; it’s
an interesting approach-to-management
book. Another one
that we used in the
early years at Renaissance
is Jack Welch and
the GE Way by Robert
Slater. And here’s
one that’s
a must for any sales
organization: Strategic
Selling by Robert
Miller and Stephen
Heiman. WWM: Thanks Drew, it was great to have met you. Looking forward to seeing “Hermie,” the Island Issue crab, around town.
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WellesleyWeston:
Hi, Drew…I’ve
heard quite a bit
about you. You’ve
started two successful
companies, and you’re
about to launch a
third. You have five
kids, ages 13 to
25. How hard is it
to balance work and
family life here
in suburbia?
WWM:
What was your secret
to creating and nurturing
that kind of corporate
culture?
WWM:
After Renaissance
was taken apart, you
started another company
called Sagent Healthstaff,
also headquartered
in Wellesley. So,
are you a serial company-starter?
Besides
that, our goal
is to build a fun,
highly-regarded,
interesting company
that people will
really want to work
for. We’re
going to be a young,
innovative company.
We’re
going to feature our
own, limited-edition
prints on the clothing
and as artwork, to
give away as gifts
to retailers, rewarding
them for trying our
products in their
stores. Our goal is
to distribute Island
Issue clothing through
specialty retail shops,
over the Internet,
and by building partnerships
with resorts. We want
to use existing retail
channels, not create
new ones.
WWM:
Any more tips for
those who might be
starting their own
company anytime soon?