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THE MISSION DRIVEN STARTUP
@nilanp
HOW BUILDING CULTURE AROUND YOUR CAUSE, BUILDS A PRODUCT
THAT GROWS ITSELF
FIRST INTRODUCTIONS
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INTROS
WHAT IS ONE ANYWAY ?
A MISSION DRIVEN STARTUP IS A CATALYST FOR CHANGING THE
WORLD
TRANSFERWISE WAS STARTED TO SOLVE A PROBLEM
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IN OUR CASE A PERSONAL PAIN POINT HELPED TO SEE AN EPIDEMIC DYSFUNCTION IN
THE ENTIRE INDUSTRY, WHICH LACKED ANY NATURAL FORCE OF IMPROVEMENT OR MOVE
TOWARDS RESOLUTION. — KRISTO KÄÄRMANN & TAAVET HINRIKUS @nilanp@nilanp
OUR MISSION ?
TO MAKE MONEY ZIP AROUND THE WORLD: AT THE TOUCH OF A BUTTON;
FOR ALMOST ZERO COST; INSTANTLY
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A BANK COULD HAVE STARTED TRANSFERWISE AT ANY POINT IN THE
LAST 100 YEARS
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THE MISSION IS MORE IMPORTANT THAN OUR SHORT TERM COMMERCIAL SUCCESS
PROGRESS
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$0.5 MILLION ➤ $1 BILLION
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60 TRANSFERWISERS ➤ 600 TRANSFERWISERS
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LDN, UKR, EST ➤ LDN, UKR, EST, TKY, SYD, SGP,TPA,BDP
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8% OF THE UK SAVING £1M A DAY
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HOW ?
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EVANGELISM IS THE BIGGEST DRIVER OF GROWTH
WE BELIEVE WE CAN CREATE EVANGELICAL CUSTOMERS
SO WHY DO PEOPLE RECOMMEND OUR PRODUCT ?
RATIONALRATIONAL EMOTIONAL
RATIONALPRODUCT BRAND
RATIONALSPEED CONVENIENCE PRICE COVERAGE
BRAND
TO ACHIEVE ADVOCACY YOUR PRODUCT NEEDS TO BE AN ORDER OF MAGNITUDE
BETTER THAN THE ALTERNATIVE
BUT DON’T DO THIS AS “GROWTH HACK” DO IT BECAUSE THE WORLD
DESERVES IT
RATIONALSPEED CONVENIENCE PRICE COVERAGE
BRAND
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PEOPLE DO NOT TALK ABOUT MONEY TRANSFER IN THE PUB
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@nilanp
GIVE YOUR CUSTOMERS STORIES TO TELL
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#RIPHIDDENFEES
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INSPIRE PEOPLE WITH YOUR CAUSE AND YOU WILL CREATE A MOVEMENT
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You can’t copy that !
PRODUCT STRATEGY
WHAT ARE THE PROBLEMS WE NEED TO SOLVE TO ACHIEVE THE
MISSION ?
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Regulated and
available
Instantly and almost zero cost
IdentityOnboarding Worry EvangelismProblem awareness
Currencies OperationsVerificationConversion Experience ViralityMarketing
@nilanp
Regulated and
available
Instantly and almost zero cost
IdentityOnboarding Worry EvangelismProblem awareness
CULTURE == OPTIMISING FOR EXECUTION SPEED
WE WORK IN AUTONOMOUS INDEPENDENT TEAMS THAT
FOCUS ON KPIS THAT MAKE A DIFFERENCE TO OUR
CUSTOMERS AND DRIVE OUR GROWTH
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THE CURRENCIES TEAM WORKS ON LAUNCHING NEW CURRENCIES
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IT IS AUTONOMOUS & INDEPENDENT
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HOW DOES THIS WORK IN PRACTICE ?
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VALUES
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PRODUCT
@nilanpCADENCE
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TEAM MATURITY
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WEAK PRODUCT OWNERSHIP
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EVERY PART OF THE PRODUCT IS OWNED
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ANY TEAM CAN CHANGE ANY PART OF THE PRODUCT
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MARKETING
PRODUCT
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ENGINEERING CULTURE: PRODUCT ENGINEERING
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PRODUCT MANAGERS CANNOT TELL ENGINEERS WHAT TO DO
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@nilanp
IF YOU FAIL TO INSPIRE AN ENGINEER
YOU WILL FAIL TO INSPIRE CUSTOMERS
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TARGETS
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WHAT CONSTRAINS OUR GROWTH RATE ?
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TITLE TEXT
TRADE OFFS
- Consistency
- Efficiency
- Singularity of vision
- Swiftness of collective decision making
- Ownership
- Speed
- Agility
- Matrix structure
ONWARDS@nilanp
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