85: Creating a $100m+ Marketplace that Dominates Your Industry with Martin Hosking of Redbubble
“Lean Startup” has become a popular concept in the world of entrepreneurship. All founders and founders-to-be have phrases like “pivot” and “fail fast” on the tips of their tongues. But for Martin Hosking, lean isn’t just a fashionable trend. He’s lived it. And after applying and experiencing lean methods over decades of launching and running tech startups, the methodology has gained a more sophisticated meaning in Hosking’s mind. It is not just a clever strategy for testing markets, but rather staying nimble to truly fulfill the needs of the customer, something that drives him today. “What I really like about lean is it puts the customer at the center,” Hosking says, adding a caveat. “You need to have lean, but you need to have a good strategic orientation. The customer doesn’t always know what they want." Hosking’s nuanced understanding of lean startup methodology highlights the deep expertise he’s developed over the course his career. And it’s paid off. After experiencing more than his share of 1990s dot-com boom and bust, Hosking is now CEO of Redbubble, an Etsy-like online marketplace for artists that’s become highly successful. But as any successful entrepreneur will tell you, it’s not just smarts and experience that get you there. Passion is the vital ingredient that needs to be present to keep a company going during the hard times and bring it out of the shadows to phenomenal success. It’s a kind of passion that can’t be reeled in or held back. It comes out immediately when you meet a true entrepreneur. Martin Hosking is a prime example; the passion and dedication he has for his work spills out from his fast and excited manner of speaking. In this interview you will learn: What it really means to go lean and how to get there The secrets to developing a passionate group of users How to be prepared when the unexpected arises The processes that Martin goes through in order to make sure that his business is always running in top shape What goes into building a successful online business & much more!