Slides from Jam London

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THE MISSION DRIVEN STARTUP

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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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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

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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

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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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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

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