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Mat Clayton (CTO/Co-Founder, Mixcloud) - Bootstrapping To 20 Million Users

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The video for this talk from Business of Software Conference Europe 2019 will be published here soon: http://businessofsoftware.org/videos

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Mat Clayton (CTO/Co-Founder, Mixcloud) - Bootstrapping To 20 Million Users

  1. 1. Introduction to Mixcloud Bootstrapping to 20 Million Monthly Active Users MAT CLAYTON
  2. 2. A global community of 1.4 million audio creators and 20 million listeners Unique collection of over 15 million radio shows, DJ mixes and podcasts
 WHAT IS MIXCLOUD?
  3. 3. Bootstrapping The minimalistic business culture approach to starting a company – which is characterized by extreme sparseness and simplicity.
  4. 4. HUSTLE, HUSTLE, HUSTLE Be prepared for blood, sweat and tears, every single day It was worth every single moment, 10 years in, I’d do it again in a heartbeat.
  5. 5. Why bootstrap a company when every competitor has $400M+ in funding? SoundCloud - $450M Deezer - $531M Pandora - $750M Spotify - $2.6B Apple / Amazon / Google / YouTube - Unknown
  6. 6. COMPANY BEHAVIOURS, WHAT DO WE THINK WORKED? WE HAD VERY FEW ADVANTAGES, IF ANY
  7. 7. COMPANY BEHAVIOURS, WHAT DO WE THINK WORKED? WE HAD VERY FEW ADVANTAGES, IF ANY Iterated, evolved and learned faster
  8. 8. COMPANY BEHAVIOURS, WHAT DO WE THINK WORKED? WE HAD VERY FEW ADVANTAGES, IF ANY Iterated, evolved and learned faster Stayed lean and optimised in ways others couldn’t
  9. 9. COMPANY BEHAVIOURS, WHAT DO WE THINK WORKED? WE HAD VERY FEW ADVANTAGES, IF ANY Iterated, evolved and learned faster Stayed lean and optimised in ways others couldn’t We had nothing to lose, We took bets others wouldn’t
  10. 10. Iterated, evolved and learned faster
  11. 11. ITERATION “Move fast. Speed is one of your main advantages over large competitors.” “The number one predictor of success for a startup: rate of iteration” Sam Altman, President of YCombinator
  12. 12. Stayed lean and optimised in ways others couldn’t
  13. 13. We had nothing to lose, we took bets others wouldn’t
  14. 14. In order to achieve those company behaviours, we need to talk about the people they are comprised of People create high performing teams
  15. 15. Let’s start with some principles about high performing teams
  16. 16. Forming Storming Norming Performing
  17. 17. Forming Storming Norming Performing Excitement But people haven’t fully understood what the team will do
  18. 18. Forming Storming Norming Performing Excitement But people haven’t fully understood what the team will do Lack of clear processes and roles Conflict and frustration This is where many teams fail
  19. 19. Forming Storming Norming Performing Excitement But people haven’t fully understood what the team will do Appreciate colleagues’ strengths Open to providing constructive feedback Good progress towards team goals Lack of clear processes and roles Conflict and frustration This is where many teams fail
  20. 20. Forming Storming Norming Performing Excitement But people haven’t fully understood what the team will do Appreciate colleagues’ strengths Open to providing constructive feedback Good progress towards team goals Lack of clear processes and roles Conflict and frustration This is where many teams fail Achieve team goals without friction Structures and processes support this well Feels easy to be part of the team People joining/ leaving don’t disrupt performance
  21. 21. PRINCIPLE ONE Ensure everyone is capable, motivated and aligned
  22. 22. Are they talented? Are they better and brighter than you? Is something else going on outside of work?
  23. 23. OUR PURPOSE, MISSION, VISION Purpose. 
 To amplify culture through audio. Mission. To enable 100,000 audio
 creators to take control and meaningfully monetize their communities of fans. Vision. A world where anybody can 
 listen deeply, create sustainably and connect passionately. The reason 
 we exist. What we’ll accomplish. What the future will look like.
  24. 24. Does everyone believe in the Vision / Purpose?
  25. 25. Does everyone believe in the current Mission?
  26. 26. Do they agree how to execute on the Mission? We’ve struggled with this
  27. 27. PRINCIPLE TWO Behaviours drive high performance, not motivation alone.
  28. 28. Communicate as a team not as a group of individuals 1
  29. 29. Challenge yourself, safely2
  30. 30. Bring optimism and enthusiasm3
  31. 31. Relentlessly focus on outcomes, not output, process or perfection WARREN BUFFETT 4
  32. 32. “A good plan violently executed today is better than a perfect plan tomorrow.” General George S Patton
  33. 33. Take responsibility5
  34. 34. Focus on the speed of learning Always ask what did we learn? 6
  35. 35. Build the tallest freestanding structure from a marshmallow and spaghetti
  36. 36. WE NEED TO START MAKING NEW MISTAKES WE CAN’T KEEP REHASHING OLD MISTAKES
  37. 37. If you can build these 6 behaviours into the people in your business, you’ll start to see the team perform, and hopefully this will maximise your odds of survival and success IN CONCLUSION
  38. 38. Thanks 
 for listening MAT@MIXCLOUD.COM

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