Helping Failing High School Students Pass: Revolution Prep Founders Ramit Varma and Jake Neuberg (Part 7)

SM: Would you consider taking outside financing?

RV: We will consider anything. Right now the business is running in a healthy fashion without outside financing. If someone brought in quality board members and added something more than just financing to our business, that would appeal to us. We have not really felt that capital has been a limit to our growth.

SM: Mentor capital could involve people who would teach you how to scale the business faster. I think that this business can be scaled very fast.

RV: We are open to that. I like the term mentor capital. That is exactly what we want. Jake and I have both recognized that our primary areas of difficulty have been personal growth. Bringing in smart people who have done this before is something that we are very open to.

SM: How does the co-CEO business work out?

RV: We get asked that a lot. It is great. We speak a lot at Anderson [School of Management], and a lot of people say that two equal partners is a recipe for disaster. We have found that we have an unusual way of resolving conflict. Rational people think it is a stupid way of resolving conflict. We are both 50/50 owners. If we disagree on something, then whoever feels more strongly about the issue wins the argument.

We have never gotten into a circle of “I feel more strongly than you do.” Jack comes from one place and I come from another. We typically end up at a third place that is better than either of the previous two options. That is a result of deep and abiding respect for each other’s opinions. We also have enough humility to believe that we don’t know all of the answers.

We have a curious, questioning approach to the world. When we do make decisions together, and we make all big decisions together, we have more confidence that we have made the right decision. The co-CEO arrangement has never once been a point of contention or a problem for us in seven years.

SM: That is a rare and precious relationship. Enjoy it.

RV: It’s a bit of a marriage, it seems!

SM: It is a marriage! Business relationships are complex and challenging. It really is like a marriage.

RV: It certainly does seem that way. I am getting married soon, so I will now have to figure out how to make a regular marriage work with this arrangement! Jake got married a year after we started the business and has two little kids. Our business relationship has been strong enough to withstand very significant life changes. I think it is because we are both on the same page and we talk a lot about the vision of where we are going. We know we are making $13 million a year, but we want to grow this thing. Either one of us could pull $1 million a year and just sit at home and enjoy time with our families. Fortunately, we have close communication and the same vision. We share the same goals.

SM: I think that respect is the key to all of this.

RV: Jake used to be a stand-up comic, so being in the office is a lot of fun as well. We have a great time here!

SM: Thank you for sharing your story. Good luck!

This segment is part 7 in the series : Helping Failing High School Students Pass: Revolution Prep Founders Ramit Varma and Jake Neuberg
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