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How to turn around old-scool print business to 3rd fastest growing company in Finland* and to
61st fastest growing company in Europe* *Deloi'eFast500ranking,2015
@lavas
Ilkka O. Lavas
• 3 books about entrepreneurship ”Unstoppable Entrepreneurship, Amazon”
• Partner, board member, investor – Portfolio of 15 businesses – 10+ aquisitions done – 4 exits
• Young Entrepreneur of the year 2009 in ’Southern Finland’
• 36years, 2 sons, 1 wife, 2,8k+ fb, 1.1k insta 2,7k+ linkedin, Snapchat @ilkkalavas 5,5k+ twitter @lavas
@lavas
EXITs:
Import & Export software
@lavas
”Stopprintbusinessanddo100%digitalmedia.Digitalmediaisscalable!”
@lavas
Wearemoreinterestedinprintbusiness
@lavas
Lesson 1: Dream Big
@lavas
2012:”IwishwecouldbebiggerthaniltalehKinFinland”
"Becarefulofyourthoughts,foryourthoughtsbecomeyourwords.Becarefulofyourwords,foryourwordsbecomeyourac7ons.Becarefulofyourac7ons,foryourac7onsbecomeyourhabits.Becarefulofyourhabits,foryourhabitsbecomeyourcharacter.Becarefulofyourcharacter,foryourcharacterbecomesyourdes7ny.”-Authorunknown
2015thishappened
@lavas
MediaDigitalizaKon:CityDigitalHowdidwejumptoFinnishtop10listin11months
TransformaKonfromsufferingprintmagazineintoGrowingandSuccessfulCityDigitalMediaFamily
@lavas
City.fi–numberofvisitors
STATISTICSOFVISITORS
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2012 2013 2014 2015E 2016E 2017E
AcquisitionofCitybyIlkkaLavas
CompanynametoCityDigital
Digitalmediafamilyestablishment
Increasing#ofcooperativeblogs
Establishnewmediafamiliesfromnewsubjectsandthemes
STRICTLYCONFIDENTIAL
BuyKlikkiNetwork&EstablishImproveMedia
Omiste:umedia
Eduste:umedia
@lavas
MediaDigitalization:CityDigital–HowdidwejumptoFinnishtop10list?
STATISTICSOFVISITORS
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2012 2013 2014 2015E 2016E 2017E
AcquisitionofCitybyIlkkaLavas
CompanynametoCityDigital
Digitalmediafamilyestablishment
Increasing#ofcooperativeblogs
Establishnewmediafamiliesfromnewsubjectsandthemes
STRICTLYCONFIDENTIAL@lavas
”Growth is important, and most great companies take it seriously.” - Adam Nash, Wealthfront (LinkedIn, eBay, Atlas Venture)
@lavas
Growth,isaboutincreasing…
• Revenue • Traffic • Sales per customer
Morecustomers
Morerevenue
Morevaluepercustomer
@lavas
Lesson2Startwith
growthmindedpeople
@lavas
There is no such a thing as a GROWTH CORPORATION
Mindset?
Carol S. Dweck (2012). Mindset: How You Can Fulfill Your Potential
@lavas
Yes!Wecanbeevenbe'erindigital!
Carol S. Dweck (2012). Mindset: How You Can Fulfill Your Potential
+200%
CompaniesareALWAYSmadeofpeopletopeoplebypeople
@lavas
People make companies grow
HowTo: Build growth minded company culture?
• Change owners – Buy and turnaround – Some owners are risk takes, some are cash cow lowers
• Change management – Hire growth minded managers, set growth goals
• Change people – Hire new – Teach old (oh yes, many old dogs can learn new tricks) – > New Culture
@lavas
GrowthMindsetßàGrowthCulture
3rdlesson.Scale!Togrow,
youneedtomulKplysomething
X 1 X 10 X 100 X 1 000 X 10 000 X 100 000 X 1 000 000 X 10 000 000 X 100 000 000 X 1 000 000 000 X 10 000 000 000 X 100 000 000 000
WhatcanyoumulKply?
@lavas
3rdlesson.Askyourself:WhatcanwemulKply?
Scalable • Customers
And what customers you choose? • What channels customers use? • Unique Visitors • Online Sales • Programmatic Sales • Ad Inventory • Restaurants • Table Reservations • People who are Dating on Deitti.net Not scalable • More salespeople • Face 2 Face sales
Dropboxincome99e/yearperuserCostperuserfirstyear(useracquisiKoncost,hosKng,storage,etc)233-388epernewcustomerbeforegrowthhacking.
-Economics!!!!!!!Profitability!!!!!
Virality:AdverKsingdidnotwork.”Inviteyourfriends,referfriend,installtoyouphone”.”Yougetmorespace”PrioriKze:Scalewhatisscalableandprofitable,stopdoingeverythingelse
@lavas
Freemium->premium
Multiple amounts of customers / uniques visitors / ad impressions • Shopify 30k+ • Salesforce 100k+ • Yammer 200k+ • Slack 2 M+ daily • GitHub 1,9M • Mailchimp 2M • Google apps 4M • Freshbook 4,5 • Google analytics 30M • Evernote 30M • Dropbox over 50M people are on dropbox
2Mdailyusers,
0,57MPAIDAccounts
@lavas
CaseCityDigital.WhatdidwemulKply?
What did we multiply?
Ad impressions 2012: 800 000 ad impressions 2013: 6 000 000 ad impressions 2014: 14 000 000 ad impressions 2015: 160 000 000 ad impressions Amount of customers 2012: 40 customers 2013: 200 customers, 30% paying digitally 2014: 4000 customers, 50% buying digitally 2015: 10000 customers, 70% paying digitally
@lavas
4thlesson:Neverstopimproving.Scalenow,scaleforever
1. Always Improve 2. Always Innovate 3. Be better
– as a team, – with your products, – better than competitors, – better with your customers
@lavas
Media group has stable business and growing international
Companieswithinourgroup Presentsi.e.
…
.EE
.EE
@lavas
Sports
Football
SportEnthusias
?cs
IceHockey
Entertainment
Lifestyle
Fashion
WellnessandAc?vesports
Homeandgardening
Family
Pets
Carsandmotors
Technology
Food&restauran
ts
Golf
InFinlandwerunoneoftheLargestadverKsementnetwork
Growth Plan
ProductDevelopment
Phase
Scaling
@lavas
DreamBig
”Ibelievewecangrowto100Mcompany"
@lavas
1985-2012Business:printmagazineArea:FinlandCustomers:LocalsReaders:200k-450kUniquevisitorsonweb:City0,1M,Network:0Impressions:800000
2012,2015->Business:DigitalUrbanMediaandAdverKsementNetworkArea:GlobalCustomer:GloballyReaders:360k/1100kcopiesUniquevisitorsperweek:CityDigital0,5M(weekly),IMNetwork:3MImpressions160000000
Grossglockner,Austria,EaKngIcecream
Team
1. Dream big! 2. Start with the Growth Minded team, create growth minded innovaHve culture 3. Automate everything 4. Scale it up 5. Never give up!
HowtoGROW?
Never give up!
@lavas
YourownthoughtsAboutyourabilityIsoqentheBiggestlimiterOfyoursuccess
Photo:RobbieGrubbs
“Whetheryouthinkyoucan,oryouthinkyoucan'tyou'reright.”
-HenryFord
@lavas
IlkkaO.LavasAngelInvestor,SerialEntrepreneurandGrowthEntrepreneurshipManiacIlkka.lavas@city.fiFB,IG,SC:IlkkaLavasGsm+358400997969@lavasßßßFollownowonTwi'er!!!(yes,Iwillfollowyouback)
Ashipinportissafe;butthatisnotwhatshipsarebuiltfor.
Don’tbeafraidtogrow.Beafraidnottogrow.“Whenyoustopgrowingyoustartdying.”―WilliamS.Burroughs,Junky