Sasan Goodarzi’s Post

How does a large software company go from shitty to superb? In 2008, I used Intuit's TurboTax for the first time and my experience was comparable to a painful root canal gone bad. Every year since, I saw the product incrementally improve. Last year when I filed taxes, it was surprisingly delightful. How did Intuit do it? I was so curious about this transformation, I watched nearly every Intuit-related YouTube video, including interviews with Scott Cook (Founder), Bill Campbell (the Chairman and yes that Bill Campbell). I also paid $12 for the Harvard Business Review case study on Intuit. Nearly all sources credited Brad D. Smith’s tenure as CEO from 2008 to 2019 for Intuit's transformation. He was intentional about innovation and product design across the entire organization. He grew revenue from $3 billion to $6.8 billion during his time. So what did Brad D. Smith specifically do? 👇 I summarized his 5 moves below. #4 is my favourite and you can implement it today. 🔄 Enjoy this? Consider a repost and follow for others to find.

Intuit will tell approximately 1,800 of its global employees—10% of its workforce—they will be leaving the company. But leadership says the move isn’t to cut costs. Sasan Goodarzi, CEO of the Fortune 500 company, which offers products like QuickBooks, Credit Karma, and TurboTax, wrote an internal email to employees, seen by Fortune, announcing the “very difficult decisions my leadership team and I have made.” Goodarzi explains that Intuit’s transformation journey, including departing from the 1,800 employees, is part of its strategy to increase investments in priority focus areas of AI and generative AI, such as its GenAI-powered financial assistant called Intuit Assist, and reimagining its products from traditional workflows to AI-native experiences. The strategy also focuses on money movement, mid-market expansion for small businesses, and international growth. bit.ly/4cVAvZK

This year has been quite good as far as reading is concerned. Some very good ones I read / currently reading are - Competing Against Luck by Clayton Christensen - powerful concept of Job To Be Done - for building a brand or a product. Changed my mind - Thinking, Fast and Slow by Daniel Kahneman - what an amazing book on two kinds of thinking and biases. Just brilliant - The Richest Man in Babylon - by George Samuels - a very old book but talks about the power of compounding and savings in a very simplistic way. - Measure What Matters - by John Doerr - a prolific investor / VC at Kleiner Perkins - the legend behind investments in companies like Google, Intuit, Amazon, Compaq etc. OKRs is a powerful way of running and growing organisations through simple ways of articulating and measuring Objectives and Key Results - the philosophy behind the growth of companies like Google, Intel and Intuit! - Autobiography of a Yogi - by Paramahansa Yogananda - this was in my library for a long time but I wasn’t sure. I picked up a meditation technique recently from one of his articles and then decided to start reading it. Just started and quite an easy read so far - Biography of Titan Watches - by Vinay Kamath - it’s always fascinating to read books about companies that built the business foundations of our country - the pre-liberalization era, license Raj, limited technology or skilled manpower, lack of capital and a very small middle class population made it very daunting to run businesses in India in the 70s and 80s! We all have it a lot easy now for sure. Beautiful story of one of the most loved brands in India by the Tata Group! ❤️ - currently reading this one too. - Inside Intuit - by Suzanne Taylor and Kathy Schroeder - I was always fascinated by this company but knew very little about them. The early years of the founding of Intuit and the challenges that the company and its founders Scott Cook and Proulx faced are truly humbling. What a story - currently reading this one too. PS: I end up reading multiple books concurrently - in different loos 😬 hence so many in the currently reading list

After all these years I still admire the people culture and customer focus at Intuit.

AI is rapidly reshaping industries, bringing opportunities and challenges. Intuit’s recent layoffs of 1,800 employees highlight this shift. It's not just about technology; it's about aligning AI with your business strategy and considering the human impact. Geigsen's approach ensures key initiatives like AI that supports your core objectives while addressing the human element. We help manage these transitions smoothly, mitigating disruption and potential job threats AI can bring. Empower your business with AI-driven strategies that enhance operations and support your people. Let's navigate this journey together. Connect with us at [email protected] #Strategy #Leadership #AI #Innovation #BusinessTransformation #HumanElement #Intuit

#IntuitBetsBigOnAI Intuit's Bold Move: AI and Data at the Core! 🚀 In a significant shift, Intuit, the company behind QuickBooks, Credit Karma, and TurboTax, is laying off 1,800 employees, including some executives. CEO Sasan Goodarzi emphasized that this decision is not about cutting costs but aligning the company’s strategy with its AI and data-driven future. 🌐 By pivoting towards AI, Intuit aims to enhance its financial assistant, Intuit Assist, and reimagine its product offerings. This move aligns with a broader industry trend, as AI adoption surged to 72% this year, according to McKinsey. Goodarzi's vision since 2019 has been to "bet the company on data and AI," a strategy that seems to be paying off. Intuit reported a revenue of $6.7 billion, marking a 12% increase. 📊 Intuit plans to hire 1,800 new employees with expertise in engineering, product management, and customer-facing roles to drive this transformation. This approach not only strengthens Intuit's market position but also sets a precedent for other companies navigating the AI landscape. Are you seeing similar strategic shifts in your industry towards AI and data? Share your thoughts! 🌟 #Intuit #AI #DataDriven #TechTransformation #BusinessStrategy #SasanGoodarzi #QuickBooks #TurboTax #CreditKarma #Saasverse

Apple has been one of the most successful companies in terms of market share and revenue, holding the title of most valuable publicly traded company almost continuously since 2012, but Microsoft just took back that title last Friday. After a particularly good year for Microsoft with their stock increasing by 63%, compared to Apple's 39%, they were able to overtake Apple as the most valuable publicly traded company in the world once again. Apple and Microsoft have been at the top of the valuation charts for many years even before Apple first took the title in 2012. While there have been a few times that Apple has been surpassed since then they have always quickly retaken the title. Microsoft was able to pass Apple once again thanks mostly to investor positivity surrounding their AI potential and continued strength in cloud computing. Although Apple will likely take back its long-dominant spot at the top it's important to realize that we are entering a new era, and if Apple isn't able to keep up it might lose its title to whoever cements itself as the dominant force in AI. Want more tech industry news like this? Subscribe to our free monthly newsletter: https://loom.ly/u1TeTHc #Apple #MicrosoftAI #TechNews

Who are you? The Tale of the Ostrich, the Buffalo, and the Giraffe! Three creatures stood out in the vast plains of organizational change: the Ostrich, the Buffalo, and the Giraffe. Each represented a different approach to navigating change. Intuit plans to cut about 1,800 employees and shutter two of its worksites in North America as it pivots toward artificial intelligence (AI). This bold move raises a crucial question: how do organizations react to such transformative changes? Are they like ostriches, buffaloes, or giraffes? Understanding these responses can provide valuable insights into an organization's readiness for the future. The Ostrich, with its head buried in the sand, symbolized denial. When the winds of change blew, the Ostrich pretended not to notice. It continued its routine, oblivious to the approaching storm. Had Intuit chosen Ostrich's path, it might have ignored the rise of AI, clinging to outdated practices until the storm of disruption swept it away, highlighting the dire consequences of denial in the face of change. The Buffalo, on the other hand, charged headfirst into the storm. With unwavering strength and determination, it faced the challenges directly. When the AI revolution hit, Buffalo embraced it, investing in new technologies and reskilling its workforce. Intuit's decision to lay off employees while simultaneously hiring for AI-related roles reflected Buffalo's spirit. The Giraffe, with its long neck, saw the horizon from afar. It anticipated the changes, adapting its strategy to stay ahead of the curve. With its visionary CEO Sasan Goodarzi, Intuit seemed to embody the Giraffe's approach. By recognizing the transformative potential of AI and investing in related areas, Intuit was not just reacting to change but proactively positioning itself for a future where AI was at the forefront. The tale of the Ostrich, the Buffalo, and the Giraffe serves as a cautionary tale for organizations navigating the turbulent waters of change. The Ostrich, embracing denial, risks being left behind. The Buffalo, while courageous, might find its strength tested by the relentless storm. The Giraffe, with its foresight and adaptability, is best equipped to weather the storm and emerge stronger. Intuit's example shows that embracing change and being proactive can position an organization for continued growth and relevance. The future is uncertain, but with the right mindset and strategy, the ability to shape it is limitless. #changemanagement #adaptability #business #organizationalchange #strategy #changeability

At Intuit Connect, I was reminded of a hard truth: electricity didn’t make candles better—it replaced them. This idea, shared by Intuit’s CEO Sasan Goodarzi, hit home. Continuous improvement has its place, but to truly thrive, we need to think bigger. I’m a firm believer in the 1% approach—small, daily improvements that build up over time. But when I go to conferences like this, I don’t just expect a small return. My mindset is clear: every insight, every person I meet, every dollar I spend—I’m here to 20x it. This conference is no exception. The world is changing fast, and relying on incremental gains might leave us behind. It’s not enough to improve; we need to disrupt. Surround yourself with people who challenge your thinking and push you to see the bigger picture. Don’t just light a candle—create electricity. Don’t just improve—innovate and disrupt. For anyone thirsty to thrive, this is your call to think beyond the 1%.

AI is the next best new Technology which can change and shape the future above our imagination.