Paul McCarney is the founder and CEO of Data Republic.
Data Republic is a data exchange ecosystem and technology platform where organisations can exchange and collaborate with data. Open data is a big business opportunity, with companies looking for new ways to combine their data to get a better picture of their customers and prospects.
Paul has been founding and running his own businesses for over 20 years, starting when he was 19. As well as founding and running his own businesses, Paul is an active non-executive director – TradeMe and iiNet are two notable appointments over recent years.
As a CEO, Paul is heavily focused on marginal utility, and many of the interesting points in this interview build on this:
- What Paul has learned from being on the board of other organisations: “Think about empowering people and making sure that you don’t get too operational” (Video from 3:52)
- Managing with marginal utility: “As much as people have a say, there’s one steering wheel. You’ve got it, if you’re the CEO.” (Video from 7:36)
- Saying no and aligning decisions to company vision: “Strategy is more about what to say no to than what to say yes to.” (Video from 15:00)
- What Paul wishes he knew on day one when he was 19: “I’m much more centred now and as much as I’m passionate about what we do, I’m not the outcome.” (Video from 18:47)
Steve Pell: I’m Steve Pell from Management Disrupted. I’m here with Paul McCarney from Data Republic, founder and CEO. Paul, could you just tell us a little bit about what the business does?
Paul McCarney: We’re a trust framework to help companies exchange data. So basically creating a data exchange and infrastructure to enable companies to exchange data.
A lot of organisations have strategies which are surrounded in the construct of personalisation. Often the views that they have of their customers are somewhat limited to the amount of time that customer spends with their company, 1, 2, 3 percent of that customer’s life spent with that company.
Most of the time the customer is doing something else. To really understand and offer the right products to the right customer at the right time is challenging. They just don’t have the information.