The Strava Story — Co-Founder Shares Early Growth & Scaling Strategies
May 28, 2020
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Mark Gainey, Co-Founder of Strava, shares how they built a niche product for runners and cyclists. Topics include their equation of success, combating the noise of opportunity, targeting middle-aged men in lycra, prioritizing family, the impact of coronavirus, openness and transparency in business, and different types of athletes on Strava.
Strava started with a super niche target audience, focusing on middle-aged cyclists, to establish credibility and authenticity in the market.
Strava shifted from a highly competitive atmosphere to a more inclusive environment by introducing features like photo uploads to capture moments and experiences.
Setting goals, prioritizing rest and recovery, and engaging with a community of athletes on Strava significantly increase the likelihood of accomplishment and motivation.
Deep dives
Strava's humble beginnings and inspiration from consumer brands
Strava's founders, Mark Gainey and Michael Horvath, wanted to create a company inspired by iconic consumer brands like Oakley sunglasses and Patagonia. They admired these brands and wanted to build a product that they themselves would use. They started with humble beginnings and focused on solving their own problem: the need for better tools and fun things to enhance their own active lifestyles.
Strava's key decision to start niche and mile deep
Instead of trying to cater to a wide market, Strava made a strategic decision to start super niche and inch wide. They focused on the middle-aged man in lycra (MAMIL) as their target audience, who were passionate about cycling and willing to invest in specific equipment like Garmin cycling computers. This narrow focus allowed Strava to establish credibility and authenticity in the market and build a strong foundation to expand from.
The importance of balancing competition and enjoyment
Strava initially created a highly competitive atmosphere with a focus on PRs and segment records, which sometimes intimidated potential users. However, Strava introduced features like photo uploads to encourage users to slow down and enjoy the ride, capturing moments and experiences rather than just chasing numbers. This shift helped create a more inclusive and enjoyable environment where athletes could appreciate their progress and the overall experience of being active.
The power of goal setting, rest, and community on Strava
Setting goals, whether simple or ambitious, has been shown to significantly increase the likelihood of accomplishment on Strava. Users who set goals are 80% more likely to achieve them compared to those who don't. Additionally, recognizing the importance of rest and recovery as part of training is crucial. Taking rest days and slower recovery runs or rides is just as important for progress as pushing hard. Finally, finding and engaging with a community of athletes on Strava has a positive impact on consistency and motivation, providing support, healthy competition, and camaraderie.
Importance of Setting Frameworks and Strategies
Setting frameworks and strategies are crucial in addressing company challenges. By identifying the extreme options or bookends, such as hiring an executive or promoting internal employees, companies can find the optimal solution somewhere in between. This framework helps to leverage individual strengths and facilitates effective decision-making. Additionally, focusing on short-term, midterm, and long-term solutions allows for a comprehensive approach to problem-solving, even in complex scenarios like the COVID-19 pandemic.
Building Strong Connections and Communication
Maintaining consistent and meaningful communication is vital for a successful partnership or team. By checking in on a regular basis, either through brief conversations or longer discussions, important topics are addressed, preventing issues from building up over time. Strong communication helps create trust, fosters collaboration, and ensures that critical information is shared effectively. Furthermore, understanding the balance between friendship and business relationships allows for flexibility and ensures that personal and professional needs are met. Regular check-ins contribute to a healthy and harmonious working environment.
Mark Gainey is the Co-Founder of Strava, the #1 app for runners and cyclists. Learn how they built a product for THEMSELVES (super niche at first). We talk about Mark’s “Equation of Success” and how to combat the “Noise of Opportunity” (when to say no).
