🤘Dejan Gajsek on LinkedIn: Have you ever heard of Goldman Sachs' 15-minute rule at Goldman Sachs? It… | 10 comments (2024)

🤘Dejan Gajsek

Competitive intelligence and enablement service for B2B Tech Companies | Nosy by Nature

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Have you ever heard of Goldman Sachs' 15-minute rule at Goldman Sachs?It means you have to respond to an email in 15 minutes or less no matter what. It doesn't matter if you:- showering- hiking in the mountains- attending your son's wedding- saving someone from a drowning vehicleUnreasonable? Heck yeah.Borderline toxic? Most likely.The perfect recipe for burnout? You bet.It doesn't mean you should do it (I certainly wouldn't) but this practice exists.The embodiment of the Time Kills All Deals attitude.Other companies have their own "unreasonable" practices. Zappos Family of Companies has a 365-day return policyStarbucks offers a free drink if it's not perfectPatagonia has their Ironclad Guarantee repair serviceThe Ritz-Carlton Hotel Company, L.L.C. allows their employees to spend up to $2,000 to solve a customer problem without approvalOnce the product quality isn't a differentiating factor, the customer service and relationships are. What makes you different?

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Bojan Straze

Sales narrative for B2B products | Strategic messaging to get better customers faster | Positioning → stronger sales pitch → marketing content optimization → sales team training |

5mo

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It seems to me that in most industries quality is not a differentiating factor - yet in most companies they act as if quality is the ONLY differentiating factor. The companies you listed think out of the (quality) box when positioning themselves.

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Mike Freed

People Connector | Bookworm | Business Development Manager at EECOL Electric

5mo

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Speed is absolutely critical in business development. You don't have to have the full answer, just the acknowledgement that your customer is heard and that you are on the case.One organization shared they had a 2,000% increase in win rate whenever they were able to respond within 5 minutes of an inquiry. That's stuck with me since!

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Anf Chans ☕

Fractional CMO, B2B Marketing Consultant, and Content Creator for $1M+ Accounting & SaaS businesses. | Follow for posts about authentic networking and trust-based marketing

5mo

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Starbucksoffers a free drink if it's not perfect? I wasn't aware of this. I could have had many free drinks by now.

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🤘Dejan Gajsek on LinkedIn: Have you ever heard of Goldman Sachs&#39; 15-minute rule at Goldman Sachs?

It… | 10 comments (2024)

FAQs

Does Goldman Sachs have a 15-minute response rule? ›

Have you ever heard of Goldman Sachs' 15-minute rule at Goldman Sachs? It means you have to respond to an email in 15 minutes or less no matter what.

What is the 15-minute response rule? ›

The 15-Minute Rule is a time-management technique used to manage tasks more efficiently. The concept is simple and involves dedicating at least 15 minutes to a specific task or project, no matter how large or daunting it may be.

Why does Goldman Sachs have a bad reputation? ›

Goldman was criticized for allegedly misleading its investors and profiting from the collapse of the mortgage market during the 2007–2008 financial crisis.

What is the bad news about Goldman Sachs? ›

Despite the strong quarterly results, Goldman's earnings report finalized a few unfortunate annual milestones for the bank: Its $46.5 billion in sales marked its worst year since 2020 and its $8.52 billion in net income capped its least profitable year since 2019.

Is Goldman Sachs hard to get approved for? ›

Goldman Sachs is the premier investment bank in the world. With an acceptance rate of roughly 4%, it's harder to get into Goldman than it is to get into Harvard or Yale. Let me share how to get a job at Goldman Sachs from someone who did.

Is it hard to get an offer from Goldman Sachs? ›

Getting a job at Goldman Sachs can be hard. In 2021, Goldman Sachs hired only three percent of all job applicants, which numbered roughly 267,000. Getting an internship at this investment bank is no less competitive.

Does the 5 minute rule exist? ›

The 5-minute rule is one of a number of cognitive behavioral therapy techniques for procrastination. Using the 5-minute rule, you set a goal of doing whatever it is you would otherwise avoid, but you only do it for a set amount of time: five minutes.

What is the 15 minute rule ask for help? ›

Follow the “15-minute rule”

If you don't have an answer after 15 minutes, you must ask someone. It seems like a very simple maxim, but adhering to it can actually supercharge your own growth – you learn the value of self-sufficiency, but you are also forced to reach for the life raft when you need it.

What is the 2 minute worry rule? ›

In a nutshell, this rule states that if you face a task that can be completed in two minutes or less, you should do it immediately rather than postponing it or adding it to your to-do list. We'll go into more detail on GTD later.

What is the Goldman Sachs scandal? ›

According to court documents, between approximately 2009 and 2014, Ng Chong Hwa, aka Roger Ng, of Malaysia, and his co-conspirators laundered billions of dollars misappropriated and fraudulently diverted from 1MDB, including funds 1MDB raised in 2012 and 2013 through three bond transactions it executed with Goldman ...

What is the controversy with Goldman Sachs? ›

1. Fraud Allegations: In 2010, Goldman Sachs was accused of fraud in connection with its sale of mortgage-backed securities. The securities and Exchange commission (SEC) alleged that the bank misled investors about the quality of the securities it sold, which ultimately led to significant losses.

What is the latest scandal of Goldman Sachs? ›

Goldman in 2020 agreed to settle with the DoJ for $2.9 billion and its Malaysian unit pleaded guilty to a corruption charge. Tim Leissner, a former Goldman partner, pleaded guilty in 2018 to conspiring to launder money and violate an anti-bribery law, and agreed to cooperate with prosecutors.

Is Goldman Sachs Marcus shutting down? ›

Goldman Sachs is closing Marcus Invest, an automated-investing service, and is selling Marcus Invest's digital investing accounts to robo-advisor Betterment.

Is Goldman Sachs Marcus in trouble? ›

Financial Losses and Revised Strategy

With this, Marcus has become a significant burden for Goldman Sachs. The bank disclosed a $470 million loss related to the partial sale of the Marcus loans portfolio, contributing to an accumulated $3 billion in losses in its consumer banking franchise since 2020​​.

Is Marcus bank safe from collapse? ›

Goldman Sachs Bank USA is an FDIC member, which means that funds deposited in Marcus savings accounts are insured up to the maximum allowed by law, which is currently $250,000 for all your individually-owned accounts combined, $250,000 per owner for all your jointly-owned accounts, and $250,000 per beneficiary for ...

How long does Goldman Sachs take to reply? ›

Response Time After GS Interview

Generally, you will hear back from a front office GS super day within three days. However, some users found out less than 2 hours after their interview but some have said that the wait time can be between 1 week to 1 month. Our users shared experiences below.

What are the odds of getting hired at Goldman Sachs? ›

Among the revelations is the fact that every open job at the bank receives 300 applicants, a number suggesting that the average person applying to work at the bank has only a 0.33% chance of being successful. The good news is that it's easier to get any job at Goldman than an internship in particular.

Who is the longest serving employee at Goldman Sachs? ›

Alfred Feld, Goldman's Longest-Serving Employee, Dies at 98.

Is Goldman too big to fail? ›

Companies Considered Too Big to Fail

Bank of America Corp. The Bank of New York Mellon Corp. Citigroup Inc. The Goldman Sachs Group Inc.

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