In this episode of The Bright Founders Talk podcast, we delve into the dynamic world of business innovation and personal growth with Matthew Johnston, the CEO of EPIC Conjoint. With over two decades of experience in the corporate sphere and a seasoned journey in entrepreneurship, Matthew brings a wealth of knowledge and insight to our conversation.
In a candid discussion, Matthew shares the trials and triumphs of his business, reflecting on the early days of 24/7 commitment to the evolving demands of a growing enterprise. He also touches on leadership styles, the importance of maintaining a balance between hard work and personal time, and the cultural shifts within a burgeoning company. With a personable approach to leadership, Matthew emphasizes the value of a 'work hard, play hard' ethos, and how it has shaped the workplace environment at EPIC Conjoint.
Throughout the interview, Matthew’s reflections offer valuable lessons on adapting to change, the significance of passion in leadership, and the ongoing journey of self-discovery as a CEO. Join us as we explore how Matthew Johnston navigates the complexities of leading a thriving business while fostering a culture of innovation and resilience.
Leading from the Front: Matthew Johnston on Building Culture and Balancing Life
Matthew Johnston shares insights on leadership and company culture in a bustling start-up environment. His approach is straightforward yet seasoned with the wisdom of experience—balancing hard work with genuine downtime. "We've recognized the importance of winding down as we wind up our efforts during the week," Matthew explains. It's not just about pushing hard but knowing when to step back, especially as the weekend approaches, allowing for a rejuvenated team come Monday.
In the throes of entrepreneurship, Matthew delves into what makes a leader effective, admitting it's a role he's still mastering. "I'm still figuring out what makes a good leader day by day," he confesses. His leadership style isn’t forged from the conventional corporate ladder but shaped by real-world experiences and a keen sense to avoid the politics that often stifle innovation. This candidness about his ongoing journey adds a layer of authenticity to his role as a CEO, making his leadership relatable and realistic.
I'm still figuring out what makes a good leader day by day
Matthew JohnstonCEO of EPIC Conjoint
As EPIC Conjoint matures, adapting to growth brings its own set of challenges and learning curves. Matthew emphasizes the importance of adapting leadership styles to fit the changing dynamics of his team. Utilizing modern personality tests to better understand his employees, he strives to match the right challenges with the right leaders within the company. It’s about fostering a culture where empowerment and delegation aren’t just buzzwords but the foundation of their work philosophy. Through this narrative, Matthew paints a picture of a leader who values both the grind and the grace periods, ensuring his team is as robust in spirit as they are in business acumen.
Dreaming Big: From Aspiring Zookeeper to Wall Street
As a child, Matthew's dreams were far from the financial charts and economic theories that would later define his career. "I loved animals and thought about being a veterinarian or even a zookeeper," he reminisces with a laugh. This early passion for wildlife underscores a curious, exploratory spirit that seems to weave through his life's narrative, even leading him into unexpected professional territories. His journey wasn't just about following a linear path but about embracing the opportunities and surprises along the way, illustrating a profound adaptability that has characterized his entire career.
Matthew's academic journey took a practical turn during his first year at university when faced with choosing between economics and psychology. The decision was swayed by "thinking of future and financial considerations," though he admits the psychology class's appeal had its own merits. This pivot to economics wasn't just pragmatic but also serendipitous, guiding him through a Master's degree fraught with challenges—including a brief stint selling insurance and candy—to a lottery visa win that opened the doors to the United States. His recount of these years mixes humor with the earnestness of someone who has navigated numerous shifts in his professional compass.
Living in New York, Matthew's career took a pivotal turn from casual jobs to a crucial role at Comedy Central, a twist of fate that introduced him to the niche field of pricing analysis. "That was my lucky break," he declares, highlighting how this role not only aligned with his economic training but also set the stage for later opportunities on Wall Street and beyond. His narrative is peppered with candid admissions of the unexpected paths life has taken him on, from media to finance, each step building upon the last in a rich tapestry of experiences that shaped not only his career but his approach to business and life.
From Pricing Analyst to Global Pricing Director: Matthew Johnston’s Journey Through the Worlds of Media and Telecommunications
Matthew Johnston's career trajectory has been anything but linear. Starting as a pricing analyst at Comedy Central, he found himself at the epicenter of media pricing, figuring out the intricacies of television advertising based on viewer statistics. "It was my first foray into pricing, and bizarrely, it became the general theme of my career," Matthew reflects. His role involved analyzing Nielsen data to determine how many people were watching specific programs, information that was crucial for setting advertisement prices. This experience was not only his introduction to the field but also served as a springboard to a significant role on Wall Street.
It was my first foray into pricing, and bizarrely, it became the general theme of my career
Matthew JohnstonCEO of EPIC Conjoint
Transitioning to a Wall Street equity analyst for JP Morgan, Matthew covered the media and entertainment sector, pricing stocks and evaluating company prospects. This role deepened his expertise in financial analysis, linking directly back to his initial experiences at Comedy Central. But the journey didn’t stop there. Matthew’s career took another turn when he moved to a telecom company in Ireland, heading their pricing department during the financial crisis. The challenges were immense, yet these experiences were pivotal as they shaped his understanding of market dynamics and pricing strategies across different sectors.
The culmination of Matthew’s journey in pricing came when he ventured abroad, first to the Caribbean and then to Qatar, where he led group pricing for a major telecom company. These roles not only broadened his international perspective but also exposed him to new markets and cultures, enhancing his strategic approach to pricing and market penetration. "These experiences taught me the importance of face-to-face interactions and building relationships in business, especially in B2B sectors," he explains. Now at the helm of EPIC Conjoint, Matthew leverages all these lessons, emphasizing the critical role of personal connections and trust in achieving business success. His story is a testament to the power of adaptability and the profound impact of diverse professional experiences on leadership and entrepreneurial success.
Cracking the Code of Pricing: Matthew Johnston’s Epic Journey with EPIC Conjoint
Launching EPIC Conjoint was a bold move for Matthew, who realized that many companies have a major blind spot when it comes to pricing their products. "Pricing is a huge blind spot for a lot of companies," Matthew explains. He set out to change this with a sophisticated survey methodology that helps businesses pinpoint the optimal price for their products. The method is especially crucial for new product launches and during times of inflation when profit margins are under pressure.
Pricing is a huge blind spot for a lot of companies
Matthew JohnstonCEO of EPIC Conjoint
Conjoint analysis, though it sounds technical, is actually about understanding why customers make certain buying decisions. It's not just about what they're buying but why. Matthew emphasizes, “It’s about why they’re buying it—is it price, brand, or a specific feature?” This insight helps companies de-risk their pricing strategies and product introductions. The methodology has been around for decades but is now gaining traction in the corporate world, especially among big consumer and B2B companies looking to fine-tune their pricing strategies.
Looking ahead, Matthew is excited about scaling EPIC Conjoint’s operations. Initially, they worked with a variety of clients, but now they’re honing in on specific verticals that can provide scale, such as large consumer companies. EPIC 2.0 is all about this targeted approach, while EPIC 3.0 aims to integrate AI to further enhance their offerings. “AI presents both a challenge and an opportunity,” says Matthew, hinting at the future innovations that will keep EPIC Conjoint at the cutting edge of pricing analysis.
