Quality Time with Qwick: What CFO Josh Sherko Wants You to Know About Shifting from Corporate Work to Startups

Qwick Co-Founder and CEO Jamie Baxter recently kicked off a series of “Quality Time with Qwick” interviews. In each conversation, he and a top company executive discuss corporate culture, leadership, life at a fast-growing startup, and what it’s like to be part of the Qwick team.

In this Quality Time with Qwick Q&A, Jamie talks with Chief Financial Officer Josh Sherko.

Jaime Baxter: Tell us about your career path and what attracted you to Qwick.

Josh Sherko: I’m Qwick’s Chief Financial Officer, and I started here in February 2020.

Right out of college, I went into public accounting at PwC. I worked 70-hour weeks, but it was the best training ground. I then spent much of my career at Starwood Hotels and Resorts. People who work in hospitality love the relational aspects of this work, and they tend not to leave the industry. I was drawn to that, too. I really, really enjoy it.

When Starwood merged with Marriott, I decided to make a change. I consulted for some startups, including Qwick — I did some contract pricing strategy and financial modeling work back when this was a one-person company. As a consultant, though, I always missed the collaborative nature of the hospitality industry. That’s one thing that drew me back to this company. The other draw was that Qwick gives people life-changing opportunities. Hearing our Professionals’ stories is a different motivation than just financial gain or the chance to build something. We are truly changing lives, and that drives the majority of us here.

JB: You came up in the corporate world. How are startups different?

JS: The biggest surprise in startups has been seeing my decisions echo throughout the organization, all the way to the Professionals on our platform. In a corporate setting, you can feel replaceable. The emotional and relational aspects of your work sometimes get lost. At Qwick, and I think at most startups, it’s a different mindset. Here, even though we have over 150 full-time and part-time people, it still feels like a small family.

I work with very smart people who are encouraged to come up with ideas and experiment. There’s never a sense of failure. If we try something that doesn’t work, we learn and move on. That constant iteration of ideas eventually gets us to a final product. The framework still shocks me a bit, coming from a corporate background, but it absolutely changes how you analyze problems. It also makes you more efficient at finding solutions.

Here’s one example. Qwick experienced rapid growth in the past few years, but for a long time, we didn’t change how we invoiced customers. There were third-party tools and a process put in place at the beginning that later became an afterthought. When the system started feeling clumsy, we got curious. We took a deep dive into the problem and realized that the root of it was a disjointed customer experience stemming from the use of a third party application. Initially, our account managers partnered with our Director of FP&A to build some automation that vastly improved the customer experience. Now, our technology team is using their learnings to build our own invoicing system that will live natively on the Qwick platform — which we’re super excited to launch soon.

JB: Qwick faced some real challenges during the pandemic that caused major shifts in strategy. What have you learned about financial planning during tough times?

JS: The biggest thing I’ve learned is to move swiftly, make decisions, and stick with them. When COVID-19 first hit, we thought it would be a three-week deal. We made very narrow, small cuts. Once we realized this would be a longer-term issue, we were forced to lay off upwards of 70% of the company. That was one of the hardest things we’ve ever done, but it was the only way to keep the company afloat. Since then, we’ve welcomed almost all of those employees back (and many more).

You have to take a step back and take some of the personal pieces out of it. Everyone who was at Qwick was technically an owner because they had shares. If we had let this company go bankrupt, that would not have helped the people who moved us forward. We needed to do what was in the best interests of Qwick, and in the best interests of our Professionals and Business Partners.

JB: Difficult decisions require strong leadership skills. What leaders do you admire?

JS: Richard Branson of Virgin is one. The late Arne Sorenson, who was the CEO of Marriott is another. He was a phenomenal leader who was very authentic and genuine. And Laird Hamilton, who is a big wave surfer and innovator. The three of them represent people on the leading edge of their industries. They also model that there’s more to life than just work. They all reflect the importance of balance, whether that’s time with their families, their philanthropic work, or their hobbies.

JB: Here at Qwick, how do you inspire your own team?

JS: I make sure that people have space outside of work for their hobbies (this is one of the reasons for our recent move to a four-day workweek), and that starts with getting to know everyone personally. It’s great that we work together professionally, but if I don’t know what drives you, it’s hard for me to coach you. It’s also about understanding your career goals and motivations. I want to help you get where you want to be. Maybe that’s eventually taking my job, or maybe you’re perfectly happy where you are now. Either way, how can I help you be the best at what you do?

JB: What makes Qwick a great fit for you, personally?

JS: This is the first chance I’ve had to be a CFO. I held a lot of corporate roles in the past, and in those roles, you’re often addressing a narrow scope of work. But as CFO of Qwick, I’m working across finance, accounting, legal, corporate governance, and operations. I get a taste of everything, and that really broadens my vision and experience. I understand how all these different departments are intertwined. It’s a fun ride.

JB: What’s your advice for someone interested in working at Qwick?

JS: Qwick is such an awesome place to work. I can honestly say it’s like nothing I’ve ever experienced. When you walk into the office, there’s so much energy and people genuinely want to make a difference in the world. I feel like that’s rare, and when you do find it, you need to hold on tight.

Adopt a growth mindset. Take the first 60 to 90 days to develop relationships and understand how Qwick does business. Over time, you’ll better understand our process and you’ll be better positioned to share ideas and input. Also, be adaptable. We’re growing fast and things will change. You’re never going to get through your to-do list, so it’s about prioritizing and being okay with that. The best way to sum it up is to be comfortable being uncomfortable.