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  • Writer's pictureJasaro In

6 Lessons from Stripe: How to Build a $50 Bn Company?

Source: Lenny's Podcast with Stripe CTO, David Singleton.

1. Have a Strong Mission

  • Your mission is your North Star.

  • It attracts and retains top talent.

  • Make it crystal clear, compelling, and central to every decision.

Passion Follows Purpose. Define Yours!

2. Be Patient with Hiring

  • Hiring isn't a race.

  • Stripe's managers build personal connections, sometimes over the years, to recruit the right people.

  • Once on board, trust them. Give them autonomy.

Quality Over Speed!

3. Relentless Problem Solving

  • When Employer Identification Numbers (EINs) bottlenecked businesses trying to use Stripe ... Stripe dug into the details and worked directly with the IRS to solve this problem. Now they issue EINs instantly as you sign up.

Go Above and Beyond!

4. Users First

  • Understanding your users is invaluable.

  • And Stripe's shared product co-development teams are a testament to this.

  • Share your product alphas, betas, and integrate your feedback regularly.

Software Runs on Code, but SaaS Runs on Users!

5. Move with Urgency and Focus

  • In 2023's market ... Speed is good, but direction is crucial.

  • Urgency & focus give you both, ensuring you're not just moving but advancing.

Fast is Fine, But Accuracy is Everything!

6. Be a Learning Organization

  • Standardize a culture of continuous Improvement.

  • It ensures the evolution, adaptation, and growth of your business. Actively seek feedback from meetings to user forums.

Try, Learn, Grow, Repeat!

Building a great team and product is an art and science.

By embracing these lessons we cut out common mistakes and follow a proven, repeatable playbook for success.

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