WEBVTT 1 00:00:10.720 --> 00:00:13.043 The greatest challenge the shipping industry is facing 2 00:00:13.043 --> 00:00:15.690 line:15% today is that there are no really 3 00:00:15.690 --> 00:00:17.950 line:15% fantastic solutions for the customer. 4 00:00:17.950 --> 00:00:19.950 line:15% There is no place the customer can go and really 5 00:00:19.950 --> 00:00:21.680 line:15% get the state of the art solution 6 00:00:21.680 --> 00:00:23.300 that they've all been waiting for. 7 00:00:23.300 --> 00:00:25.110 They all have to, basically, 8 00:00:25.110 --> 00:00:27.420 settle for below-par solutions, 9 00:00:27.420 --> 00:00:29.340 also if you compare to other industries. 10 00:00:29.340 --> 00:00:32.160 The industry challenges we decided to solve 11 00:00:32.160 --> 00:00:36.870 with Twill, is basically around the whole shipment flow. 12 00:00:36.870 --> 00:00:39.870 We'll travel around talking to a lot of customers, 13 00:00:39.870 --> 00:00:43.150 trying to understand how are your processes, 14 00:00:43.150 --> 00:00:46.320 how are you measuring success, what are your challenges 15 00:00:46.320 --> 00:00:48.230 today, and what do you like today. 16 00:00:48.230 --> 00:00:51.110 I'm going to try to take in a lot of best practices 17 00:00:51.110 --> 00:00:54.844 from other industries to show them how could we do things. 18 00:00:54.844 --> 00:00:57.690 We decided to partner externally, basically, 19 00:00:57.690 --> 00:01:00.230 because we wanted to start over. 20 00:01:00.230 --> 00:01:02.640 We wanted to create this new company, but we wanted 21 00:01:02.640 --> 00:01:04.750 to get in some new thinking. 22 00:01:04.750 --> 00:01:08.440 So the partnership BCG and Twill set up from the beginning 23 00:01:08.440 --> 00:01:12.040 was, we set up a structure of co-CXO, 24 00:01:12.040 --> 00:01:14.160 meaning that we have a co-CTO, 25 00:01:14.160 --> 00:01:18.520 a co-CPO, the product owner, and a co-CEO. 26 00:01:18.520 --> 00:01:20.730 So, basically, we were attached by the hip. 27 00:01:20.730 --> 00:01:23.430 So we had one from Twill and one from BCG. 28 00:01:23.430 --> 00:01:27.073 So that basically helped us learn how to run the company 29 00:01:27.073 --> 00:01:30.720 on our own, and also, basically, it was a partnership. 30 00:01:30.720 --> 00:01:32.730 So it's not consultants working in one corner, 31 00:01:32.730 --> 00:01:33.964 Twill people working in another corner. 32 00:01:33.964 --> 00:01:37.720 We were working together all the way through the venture. 33 00:01:37.720 --> 00:01:41.510 It also meant that when BCG left the company, 34 00:01:41.510 --> 00:01:44.410 we were basically ready to run it on our own. 35 00:01:44.410 --> 00:01:47.670 line:15% If you're doing a startup within a corporate organization, 36 00:01:47.670 --> 00:01:49.410 line:15% then it's very important to get the structure right. 37 00:01:49.410 --> 00:01:51.767 line:15% I think we did a great job on that. 38 00:01:51.767 --> 00:01:54.770 line:15% But what does it mean to have a startup in a corporate? 39 00:01:54.770 --> 00:01:56.280 What kind of authority do you have? 40 00:01:56.280 --> 00:01:58.130 What kind of flexibility do you have? 41 00:01:58.130 --> 00:02:00.887 What do you have to do, and what don't you have to do? 42 00:02:00.887 --> 00:02:02.830 That's very important. 43 00:02:02.830 --> 00:02:03.880 And it's also very important 44 00:02:03.880 --> 00:02:06.370 to think about what does success look like 45 00:02:06.370 --> 00:02:09.930 because a lot of the KPIs that you usually use 46 00:02:09.930 --> 00:02:13.630 in big organizations, just don't work in a startup. 47 00:02:13.630 --> 00:02:16.730 There's too much insecurity, too much unknown. 48 00:02:16.730 --> 00:02:18.830 So you have to think about six, 49 00:02:18.830 --> 00:02:22.080 12 months from now, what is exactly, what is success. 50 00:02:22.080 --> 00:02:23.940 How do we measure how much we learn? 51 00:02:23.940 --> 00:02:25.730 Is it how many customers we get on board, 52 00:02:25.730 --> 00:02:27.520 or is it how many features we bring to the market? 53 00:02:27.520 --> 00:02:29.850 Is it how many countries we go to? 54 00:02:29.850 --> 00:02:32.260 Really have to think it through from day one 55 00:02:32.260 --> 00:02:34.083 what is success for us.