An Interview With Cynthia Corsetti
It is becoming harder to navigate polarizing social norms. Often, CEOs must make decisions to speak out or stay silent even though either decision may anger their consumer base. This year, we’ve seen this play out in Targets across the US facing backlash both for having pride merchandise and subsequently removing it. Additionally, Bud Light faced a similar outcry after an advertising campaign. CEOs are caught trying to determine the right way to market to all potential consumers while not falling too far to one side of an extremely divided social scene.
When it comes to business leadership, challenges are omnipresent. From rapidly changing market dynamics to technological disruptions, executives today grapple with multifaceted issues that directly impact their decision-making and strategic orientations. What really keeps the leaders of today’s corporate world awake at night? How do they navigate through these turbulent times to ensure the growth and stability of their organizations? As part of this series, we had the pleasure of interviewing Katrina Purcell.
Katrina Purcell has held many titles in her career: technical advisor, project manager, head of global PMO, director of product operations, chief of staff to the CEO for two separate businesses, and now founder. A graduate of Columbia Business School, Katrina Purcell has prided herself on her business acumen as she steadily rose through the ranks no matter where she was employed. It became apparent to her that her expertise was in high-demand in the business world. However, while she was making capital for major corporations, the fire in her soul demanded more. She realized her particular brand of skills would be able to feed that fire through service to minority-led organizations, non-profits, and those who may not have access to such services at a reasonable cost. In true Katrina Purcell fashion, she dreamed big then excelled as she completed her vision. Katrina Purcell, LLC, works with seed to series C tech startups and nonprofits on creating efficient growth and scale. Whether it’s strategic planning, operational excellence, product roadmaps, agile tech transformation or capital raise support, her mission is to deliver tailored solutions that drive tangible results and unlock their full potential. Katrina lives in Brooklyn, New York with her brilliant, supportive husband and two very spoiled cats. When she’s not volunteering, she’s living life to the fullest in everything she does.
Thank you so much for joining us in this interview series. Before we dive into our discussion about communication, our readers would love to “get to know you” a bit better. Can you share with us the backstory about what brought you to your specific career path?
I grew up in Virginia but always dreamed of moving to New York City, drawn by the big city lights and energy. After completing my undergraduate at James Madison University, I started my career at The Discovery Channel. I spent the first 15 years of my career in media spanning everything from pre-production to post-production. Eventually, I moved to NYC to work for Bloomberg. I believe we always end up where we find ourselves most inspired in life, so I moved from production to project management. This led to business school after one too many projects building new organizational structures. I took a harder pivot after business school out of media and into pure play technology companies working mostly in B2B SaaS during both an IPO and a recent Series B raise. This experience led me to launch my own firm doing fractional COO and consulting work to bring my skill set to companies that are going through a transformation and need the right type of leadership.
You are a successful leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?
I think the three most instrumental character traits which fuel my success are my tenacity, integrity, and empathy. I truly believe if you set a goal, you can achieve it by putting a proper plan into action. I proved this to myself, as well as family and friends, when I signed up for a half ironman triathlon which requires a 1.2-mile swim even though I had yet to learn how to really swim. Sure, I had not drowned over the course of my life, but that is quite different than swimming over a mile. After months of swimming lessons, not only did I complete the race, but I also went on to do a full Ironman just a year later which boasts a 2.4-mile swim. I don’t shy away from difficult paths. I set a goal, and I met that goal using my tenacity no matter how much it hurts.
My reputation is extremely important to me. My coworkers and friends know that I have a strong moral compass, and I will step up to make difficult decisions accordingly. As a leader, my empathy for others has ensured that I make time to hear their opinions and talk about choices. Many decisions cannot be made by committee. But working with the team by meeting them where they are to ensure that they understand as many of the facts as possible goes a long way to ensuring they can be on board with the decision even if they disagree.
Leadership often entails making difficult decisions or hard choices between two apparently good paths. Can you share a story with us about a hard decision or choice you had to make as a leader? I’m curious to understand how these challenges have shaped your leadership.
At times, leaders are required to make very unpopular decisions for the greater good of the company, and this could put leaders in conflict with each other and their team. I think the biggest challenge has been not always being able to share the full picture. Often, we are more aware of the financial status of the company and have a fiduciary responsibility to act prudently for shareholders. This responsibility weighs heavily during times of layoffs or delays of bonus payments when the team does not have the full picture and is often quite upset due to the necessary outcome. In these situations, it is important to me that I’m on a team of other leaders who share compassion and are willing to be as transparent as possible.
What do you believe are the top five concerns currently preoccupying the minds of C-suite executives, and why?
1 . All CEOs worry about the race to attract and retain the top talent in their field, especially in this new era of return to offices. Talent is prioritizing remote work to provide them needed flexibility while many companies want at least two or three days a week of in-person office attendance. CEO’s struggle with what is right. Because on one hand, you want top talent, even if they don’t live in your city, while on the other hand, junior folks and some collaborative roles benefit greatly from in-person interaction. Some companies also have expensive leases necessitating a return to the physical office even though during covid there was a mass exodus from major cities. With many of these challenges, there is no one-size-fits-all approach which is why the decisions weigh heavily.
2 . Capital efficiency is a strong second. We’ve seen the funding market tighten, interest rates rising, and a recession looming. Together, these spell death for companies without a decent runway. Moving from growth at all costs to efficient growth can be a hard pill to swallow. Focusing on unit economics to determine if company operations are truly efficient and making the hard decisions to sunset products that may not be able to perform in the current market. Tough decisions must be made when the answer is no longer just raise capital at a high valuation and see how things go. I’ve seen companies raise a round on what they consider to be unfavorable terms because they don’t have the runway to be more selective. CEOs are hunkering down with the cash they have raised and trying to make it last as long as possible.
3 . It is becoming harder to navigate polarizing social norms. Often, CEOs must make decisions to speak out or stay silent even though either decision may anger their consumer base. This year, we’ve seen this play out in Targets across the US facing backlash both for having pride merchandise and subsequently removing it. Additionally, Bud Light faced a similar outcry after an advertising campaign. CEOs are caught trying to determine the right way to market to all potential consumers while not falling too far to one side of an extremely divided social scene.
4 . Am I the right person for this stage of the company’s growth? A good CEO is always evaluating their key skills against the key skills necessary to get the company to the next level of growth. In some cases, there may be a mismatch, particularly with hyper growth companies still run by a founder or early-stage leader. The moxie and skills needed to take an idea into reality are not the same skills needed to scale to a 100-million-dollar company. Facing that reality can be stark for some CEOs. Operational rigor is required to scale in order to serve a larger customer base whether through a product or service. This rigor requires standard operating procedures, checks and balances, as well as strict adherence to processes. The CEO should, at times, switch from visionary to execution when the organization requires that level of rigor.
5 . Innovation. In some cases, barriers to entry are lower than they were years ago. Now, companies are not only competing with the competitors they see, but those being spun up in a garage somewhere. Staying relevant and ensuring you are delivering the best experience for your customers is more difficult today as the pace of change intensifies in a completely digital world. Customer expectations are higher than ever before and staying ahead of the curve seems to need psychic powers. I’ve seen the most successful companies focused intensely on their specific ideal customer’s needs and delivering against those needs at the highest quality.
In the face of rapid technological advancements and market shifts, do you find that you need to constantly recalibrate your strategies to ensure sustained growth?
The companies that I advise typically use a framework made popular by Dan Sullivan in his book 10x is Easier Than 2x. This framework means that we do not have to constantly recalibrate because we have already taken on audacious goals that require extreme focus. The North Star will remain constant, but the path may vary with market shifts. The organization does not feel the need to constantly recalibrate because the audacious goals create a clear path to win and reduces the unnecessary noise.
With the emergence of AI, blockchain, and other transformative technologies, how do you determine which tech trends are worth investing in?
I think it’s important to read constantly, keeping up to date on all the latest trends, but not immediately jumping on the latest buzzword you hear. Being firm in your strategic plan and knowing what catalysts could transform or 10x your business is important to ensuring that you only invest in things that will accelerate your growth. Surround yourself with people smarter than you focused on key areas of your business that are ripe for innovation and listen to them when they bring ideas.
With increasing digital threats, how are you prioritizing cybersecurity, and what measures are you taking to protect your organization’s assets?
When it comes to cybersecurity, employees are the most vulnerable. I advise companies to ensure training about phishing attacks, perform simulations, and utilize two-factor authentication. When storing customer information or cloud assets, sticking with larger organizations who are highly invested in their own cybersecurity, such as Amazon, Google, or Salesforce, is a valid safety measure. Utilizing a secure ecosystem of products helps companies who do not have as much to invest into cybersecurity.
As a top executive, how do you manage stress and maintain mental well-being? Do you have any personal practices or routines that help you stay centered?
I have a gratitude practice which helps me stay centered. Each month, I write five handwritten notes to friends, family, or coworkers who’ve impacted my life. I tell them thank you, update them on how things are going, or just spread some cheer to someone who may be having a tough time. The practice is meaningful to me because when I write the cards, I’m flooded with happy thoughts, and people always love to receive something in the mail.
When I need to be grounded, I love to walk in nature around Prospect Park listening to podcasts or just the birds chirping. I dream of the day I will say I meditate, but I continue to fail in my attempts to create a daily meditation practice.
What habits or practices have been most instrumental in your personal and professional growth?
Whether it be in a structured classroom environment or taking advantage of talks across New York City or a good book, I love learning new things. I view myself as a constant work in progress, and I think that allows for grace in failing and the ability to always pivot or learn something new.
The business world is evolving faster than ever. How do you ensure you’re constantly updating your knowledge and staying ahead of the curve?
I’ve already mentioned reading a few times, so I will simply state it again. I listen to podcasts. A few I like are Masters of Scale, Freakonomics, HBR Women at Work, and a newer one, Crucible Moments. My husband and I have spirited debates about various topics. We’re always pushing each other to learn new things. A supportive partner is truly key to success.
The importance of diversity and inclusion in the workplace has been emphasized more than ever. Do you have any initiatives promoting diversity and inclusion in your organization?
Right now, I am an organization of one. However, I am actively working to level the playing field for minority founded and lead companies by bringing my years of experience to them. I pick my clients based on their leaders and their mission.
Can you share a piece of feedback or advice you received that significantly altered your leadership approach or philosophy?
The best piece of advice I’ve gotten is “you’ll never be liked by everyone so don’t worry about it.” I grew up a type-A perfectionist. Early in my life, I spent quite a bit of time very concerned about what people thought about me. Over the course of my career, a great mentor, and now friend, taught me that being liked is the enemy of happiness. I strive to always be fair, empathetic, and respectful in all interactions.
You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂
I’ve been putting my efforts into educating women about resources available to them around financial education to broaden the conversation around what it means to build wealth. Closing the wage gap only helps if women and minorities know what to do with higher wages. We need to create education around 401ks, IRAs, investing, and other assets to build wealth. Wealth management education can only help create more equality and in turn build true generational wealth.
How can our readers further follow your work online?
You can connect with me on Linkedin at https://www.linkedin.com/in/katrina-purcell/ or my website Katrinapurcell.com
Thank you for the time you spent sharing these fantastic insights. We wish you only continued success in your great work!
About the Interviewer: Cynthia Corsetti is an esteemed executive coach with over two decades in corporate leadership and 11 years in executive coaching. Author of the upcoming book, “Dark Drivers,” she guides high-performing professionals and Fortune 500 firms to recognize and manage underlying influences affecting their leadership. Beyond individual coaching, Cynthia offers a 6-month executive transition program and partners with organizations to nurture the next wave of leadership excellence.
C-Suite Concerns: Katrina Purcell On The Top 5 Issues That Keep Executives Up at Night was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.