019 How To Build Disruptive Multi-Million Dollar Marketplaces - With Matt Mickiewicz
Nov 9, 2014
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Matt Mickiewicz, co-founder and CEO of Hired and known for launching 99Designs and Flippa, shares his fascinating entrepreneurial journey. He discusses the delicate balance between resilience and confidence needed for innovation while reflecting on his childhood in Vancouver. Matt dives into the complexities of building marketplaces, including attracting both supply and demand, and emphasizes the importance of aligning technology with market needs. He also highlights the evolution of tech recruitment and the positive impact of salary transparency for engineers.
Matt Mickiewicz's entrepreneurial success is rooted in his ability to identify market opportunities and adapt to customer needs from a young age.
Building effective marketplaces requires understanding both supply and demand while addressing user pain points for sustainable growth.
Deep dives
Early Entrepreneurial Journey
Matt Mitskevich began his entrepreneurial journey at a remarkably young age, starting his first business when he was just 15 years old. He created SitePoint.com, an online resource for web developers, after compiling valuable web design tools he discovered during his learning process. This business rapidly gained popularity, eventually becoming one of the most visited websites globally, demonstrating his knack for spotting market opportunities. His early experiences underscore the importance of passion and determination in the pursuit of entrepreneurial success.
Lessons from Building Marketplaces
Mitskevich effectively highlights the challenges of building successful marketplaces through his ventures such as 99designs and Hired. He stresses the significance of understanding customer behavior and addressing both the supply and demand sides of the marketplace for long-term viability. Particularly with 99designs, he took advantage of existing user engagement within the SitePoint community to bootstrap the idea of a crowdsourced design platform. This organic growth approach became a critical factor in the success of his businesses.
Key Strategies for Recruitment Challenges
Hired, Mitskevich's most recent venture, was founded to tackle recruitment challenges faced by tech companies. The platform differentiates itself by curating a pool of quality talent who are actively seeking job opportunities, thus improving the recruitment experience for employers. Mitskevich emphasizes the importance of transparency in salary and benefits to enhance the candidate experience, making the recruitment process more straightforward and appealing. His innovative solutions address the common pain points and elevate the standard for recruiting in the industry.
Resilience in Entrepreneurship
Throughout his journey, Mitskevich encountered significant challenges, including the bursting of the dot-com bubble, which nearly derailed his early ventures. He emphasized the necessity of resilience and the ability to pivot in response to market conditions, which proved vital in sustaining his businesses. By continuously adapting and responding to feedback at each stage of his entrepreneurial journey, he was able to refine his approach and leverage new market opportunities. His mindset reinforces the notion that perseverance and a proactive strategy are essential components of entrepreneurial success.
Matt Mickiewicz is the co-founder and CEO of Hired, a two-sided marketplace that matches high-quality technology talent with the right job opportunities. Previously, Matt co-founded 99Designs, the #1 marketplace for crowdsourced graphic designs. He also co-founded Flippa.com, an online marketplace for buying and selling websites, domains and apps. And if that wasn't enough, Matt also co-founded SitePoint.com as a teenager and grew it into a profitable multi-million dollar company without any venture capital or outside funding. And in 2011, Forbes nominated Matt to the "30 under 30" list.