Dexcom CEO Kevin Sayer says: To inspire feedback, start by saying: “Help me!”
Episode 166
Download Free Bonus Resource
Kevin Sayer had only been at Dexcom for a few months when he was faced with a career-defining decision: the company was set to announce the release of its new glucose monitoring device, but there was a problem when Sayer learned from some trusted sources that the device was no better than the previous version.
Faced with the decision about whether to release it or not, and knowing that not releasing it when the company said it would, would invariably hurt Dexcom’s stock price, Sayer chose the harder path and told his CEO, “It’s not good enough. We can do better.” And then he told the engineering team that designed the new pump the same thing. He and the team went to work on making the device not just newer but also better than ever.
And, yes, Dexcom’s stock did drop a bunch of points, going from $17 to as low as $6-and-change. But at Dexcom, says Sayer, “nobody blinked,” because they were not depending on the momentum typically generated by rising stock prices after a new product release. Sayer had created a different measure of momentum that began and ended with the team itself.
“You have to develop metrics internally that deliver momentum,” he explained in the podcast. “And that’s done by setting and achieving goals. Sometimes, if things are going badly, you have to create just a little momentum to turn it around. You have to encourage and communicate. You can’t wait for the home run every time. Sometimes, you have to start small.”
When Dexcom finally released the new device, it vindicated Sayer’s discipline and high standards by becoming a product that people could rely on and, as a result of word of mouth, the stock took off. As of this writing, it sits somewhere in the $121-per-share zone. “We’re a top 10 returned company in the S&P 500 ever since then,” he noted.
The first company to develop a system to monitor glucose levels without finger pricks or scanning, Dexcom is now recognized as a world leader in medical technology.
Listeners to the podcast will learn how to manage “internal” momentum shifting, including:
- Communicating with investors when there has been a change in plan.
- The advantage of long-term thinking over short-term gain as a go-to-market strategy.
- How to fuse your company’s product and purpose.
- Why less usually means more when it comes to CEO communications.
Resources:
View All Episodes
-
The Ritz-Carlton Hotel Company Co-Founder Horst Schulze
Episode 123 | Soccer in Germany
-
Condoleezza Rice encourages you to build bridges as a leader.
Episode 82 | College Football Playoff Committee
-
Coach K offers two questions you should ask to elevate team performance
Episode 160 | Basketball
-
Delta Air Lines CEO Ed Bastian: Lessons learned leading through the darkest hour
Episode 66 | Baseball, Basketball
-
NFL Chief Revenue Officer Renie Anderson teaches you how to put your pride to the side.
Episode 121 | Gymnastics
-
Chick-fil-A Chairman Dan Cathy reflects on the most exhilarating moment of his life.
Episode 112 | National Wrestling Hall of Fame
-
Savannah Bananas Owner Jesse Cole says: “At heart I am still a kid just trying to make my dad proud.”
Episode 144 | Baseball
-
P.F. Chang's CEO Damola Adamolekun says: Start your day with a conquest
Episode 147 | Football
-
Make-A-Wish CEO Richard Davis says: Set a direction not a goal.
Episode 119
-
Carla Vernon, Amazon Vice President of Consumables, asks: Athletes have a warm-up routine, does your corporate team?
Episode 94 | Dance
-
Brian Moynihan, Chairman and CEO of Bank of America, asks: Do you have a curious mind?
Episode 22 | Rugby
-
Netflix CFO Spencer Neumann asks: Are you good at saying no to protect your priorities?
Episode 110 | Harvard Football
-
Broadcast Legend Lesley Visser says: Treat every opportunity like it’s the Super Bowl.
Episode 111
-
Longtime Waffle House President & COO Bert Thornton teaches how to engage your team in conversation
Episode 57 | Football
-
ESPN’s Jay Bilas says: Leaders should be demanding not demeaning.
Episode 88 | Basketball
-
Dolf Berle, Topgolf CEO, asks: Do you practice courage?
Episode 1 | Track & Field
-
Warrick Dunn, Atlanta Falcons Part Owner and Former NFL Running Back, Asks: Will You Choose to Be Bitter or Better?
Episode 37 | Football
-
Simon Sinek, Team Building Expert, asks: How do we win a game that has no end?
Episode 34 | Special Edition
-
Rick Hendrick, NASCAR Hall of Famer, asks: Are you valuing your people over profits?
Episode 27 | Baseball
-
Louis Carr, President of BET Media, asks: Can you overcome two pandemics?
Episode 2 | Track & Field
-
Chick-Fil-A Vice President of Corporate Social Responsibility Rodney Bullard shares a leader’s need for grace and forgiveness
Episode 45 | Football
-
David Ross, Chicago Cubs Manager, Joins Us For a World Series Special Edition
Episode 14 | Baseball
-
Dawn Hudson, longtime NFL Chief Marketing Officer and Pepsi NA President, asks: Do you look at your company from the outside?
Episode 21 | Tennis
-
John C. Maxwell, Leadership Expert, Asks: Do You Know The Top Time-Waster In Leaders’ Lives?
Episode 8 | Basketball
-
Fred Perpall, CEO of The Beck Group, asks: Do you have a deep understanding of your teammates?
Episode 20 | Basketball
-
Dr. Kent Thielen, CEO of Mayo Clinic Florida, asks: Are You Willing to Go Off-Script When the Situation Calls for it?
Episode 18 | Basketball
-
CEO of Walk-On’s Sports Bistreaux Brandon Landry asks: What is your underdog story?
Episode 39 | Basketball
-
Xavier Williams, CEO of American Virtual Cloud Technologies, Asks: Does The Content You Read Expand Your Thinking?
Episode 9 | Basketball
-
Carl Eschenbach, Sequoia Capital Partner, Asks: Do You Hate To Lose Or Love To Win?
Episode 6 | Wrestling