IRU: What is the most meaningful or memorable experience you’ve had in your career and why? Trefler:Tere’s nothing I love more than seeing a client go live with our software and succeed in moving their goals forward. We get to celebrate the product, the team that helped build the product, the team that helped implement it, and the client’s success. I remember my first project go live after an all-nighter—I was on the 21st floor of our building as the sun reflected off the East River and the first users sat at the new system ... and liked it! It was magical.
IRU: How do you handle failures or setbacks, and what lessons have you learned from those experiences? Trefler: I don’t consider anything a failure unless I don’t learn something from it, so I make it a point to find a lesson in any set- back. I figured this out playing chess, where I learned more from losing games than from winning. It made me a better player. I also believe failure is necessary for true innovation - if you’re not at some risk of failing, you’re not pushing the boundaries hard enough.
IRU: What advice would you give to someone just starting out in their career? Trefler: If you’re new in your career, you’re likely going to be given work that may feel tactical, and it can be tempting to just “get it done.” It’s important to ask questions, not just complete assign- ments. Make sure you understand how your work impacts the overall goal and what the person who will take it to the next stage needs from you. At Pega, we call that “getting things to done, done.” Just as a relay racer needs to be sure the baton is firmly in the next person’s hand so they can quickly and confidently move ahead, be sure the work you hand off is ready for the next person to use effectively and measure your success by how your work is adopted.
IRU: How do you balance the competing demands of your personal and professional life? Trefler: I love what I do so it makes it easier. I don’t feel a lot of stress; I know how to catch some quick sleep in trains, planes, and automobiles when I’m on the road, and I always find time to talk to my wife daily when I’m traveling.
IRU: What aspect of investor relations (IR) do you find the most valuable? Trefler: Te most valuable aspect of IR is the two-way interaction. Te ability to spend one-on-one time with key stakeholders discuss- ing our strategy in depth, getting to know each other, and getting their feedback provides an invaluable feedback loop. Investors are ultimately investing in people as much as a company and product.
Tey need to see not just expertise but passion and alignment. I’ve found that introducing key team members who are delivering on our mission beyond me and our CFO creates confidence beyond what can be communicated during quarterly reporting.
IRU: How can IR add the most value to your leadership team? Trefler: Te right program doesn’t just communicate information about the company to investors and analysts, it also provides an external lens into the market. It gives us valuable insights from the investor community about key industry trends and expectations, as well as feedback on our strategy and financial performance so we can better understand what’s on target, what we can do better, and/or what might be missing. All these insights are valuable to our leadership team as we plan and execute.
I don’t consider anything a failure unless I don’t learn something from it, so I make it a point to find a lesson in any setback.
IRU: What are the key ingredients in a compelling investor narrative? Trefler: Tere are three key elements. First, a strong position starts with a large and growing market opportunity; second, you need a product or service that can win in the market; and third, you should present a team that can execute.
IRU: What’s the one thing you take with you on every business trip? Trefler: My in-ear noise-cancelling headphones make the trip much more enjoyable and peaceful.
IRU: If you weren’t the CEO, what would you be doing? Trefler: I am very curious and really enjoy learning and teaching. I use that knowledge to better understand many things in the world that interest me and to help coach employees. I have taught at graduate classes, and I love the interaction with students. So, I think I would be a college professor if I hadn’t founded Pega.
IRU: Where is your happy place? Trefler: Immersed in a game of ping pong. IR
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