New Year, New team, new opportunities
It’s a huge cliché, but a lot of things happened in one year. More than ever before, 2019 was a true rollercoaster at Stampix. The past few months we have been driving in high gear and some significant changes have taken place. After hitting our targets in the first two quarters we faced some rough (personal) storms during Q3, and separated ways with our CTO. Fueled by new deals towards the end of the year, we found ourselves releasing new products & features without the necessary dev capacity. Needless to say more than a few nuts & bolts jumped off, and we had to rethink everything. During countless hot autumn nights, we dreamt of a killer smartphone app, AI, a scalable platform with robust operations and a well-oiled sales team. Not to forget an inbound marketing machine. Sounds like quite the Christmas wish-list, right? Let us take you through our lessons and how we believe we will to tick those boxes in 2020.
In the beginning, running a startup is all about conserving cash, managing your top line and performing enough iterations to reach the so-called “Product-Market Fit (PMF)”. End 2018 we believed to have reached that point, after experiencing a steep rise in revenue and becoming profitable for the first time in our existence. Backed by our investors, we decided to hire people on sales and development and invest more in B2C marketing, i.e. (gently) switching from cash conservation to cash investment. It turned out that PMF is a simplified view of reality, at least for Stampix. One of the key lessons we learned is that we’ll continuously need iterations while scaling up and that there’s a huge risk in pre-mature scaling.
Everything is connected. More sales will go hand-in-hand with new feature requests, and require a reliable tech platform. A better technology & AI will facilitate a frictionless (B2C) experience, delivering customer success (B2B). This will, in return, be a key driver for recurring revenue. So, in a nutshell:
I used to believe these topics were for large corporates, with an entire HR-department trying to realise a certain company culture. After failing to scale my team, I’m convinced it’s not only essential to define the core values, but also to make them actionable.
What does each of these values mean?
Each of these values has been translated to concrete actions, and it’s our ambition to hire, fire and organize ourselves around these values. Together, they will ensure the company is growing in a sustainable way and our future iterations are less painful.
2020, here we come!