Traction
How To Build & Scale a Marketplace From $0 to $Billions with Matt Mickiewicz
Apr 25, 2022
Matt Mickiewicz, co-founder of 99designs, Hired, SitePoint, and Flippa, shares his journey from a teenage entrepreneur to a marketplace mogul. He discusses essential strategies for building and scaling successful marketplaces, emphasizing the importance of niche targeting and user experience. Matt reveals growth hacks applicable across various platforms and reflects on Hired's unique salary disclosures. He also offers insight on when to seek venture capital and shares invaluable advice for aspiring entrepreneurs. Tune in for a masterclass in marketplace success!
20:19
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Quick takeaways
- Validating marketplace concepts through simple tools like Typeform and Google Spreadsheets allows entrepreneurs to efficiently align supply and demand before investing in technology.
- Focusing on niche markets initially enables startups to build a strong foundation, leading to effective scaling as they gradually expand their audience and offerings.
Deep dives
The Importance of Minimal Technology in Marketplaces
Building a successful marketplace does not require extensive technology development initially. Entrepreneurs can quickly validate their concepts using simple tools like Typeform, SurveyMonkey, and Google Spreadsheets. This validation enables them to focus on creating a matching engine for supply and demand without entering lengthy technology development cycles. For example, Hired was able to attract engineering talent and employers by first capturing the necessary data through basic web forms before scaling up their technology once traction was achieved.
