- Changpeng Zhao believes that external pressure creates strong and tight teams.
- The Binance CEO recently stated that FUD has helped build a trustful and resilient team.
- Zhao likened the impact of FUD and external pressure to that of soldiers in trenches.
Changpeng Zhao, the man behind crypto giant Binance, recently stated that external pressure is the secret ingredient behind building tight and strong teams. The crypto billionaire believes that external pressure works better than conventional team building activities and other corporate exercises when it comes to creating a dynamic and tight team for a company.
Zhao took to Twitter earlier today to share the secret behind what it takes to operate the world’s largest crypto exchange. According to the Binance CEO, external pressure is his counter intuitive secret which helped him assemble a strong and tight team for his company.
The Binance CEO told his followers that fancy dinners, outings, coaching exercises, and inspirational seminars tend to fade over time. However, external pressure will bring a team closer and help create trust among team members. The pressure may be in the form of some threat to the firm, or FUD (fear, uncertainty, and doubt) regarding the company’s performance.
Changpeng Zhao likened the impact of external pressure on a corporate team to the threat faced by soldiers in trenches. According to him, external pressure and FUD helped unite the team at Binance and made the employees more focused on the company’s mission of increasing the freedom of money globally.
“While I am not suggesting the pressure needs to be life-threatening, fighting in the trenches together is the best way to build tight teams. It builds reliance, alliance, resilience, and most importantly trust between the team members,” Zhao stated.
The Binance CEO clarified that while it was important to have a tight internal team, he was equally committed to increasing trust externally through collaboration and cooperation with stakeholders in the industry.
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