Justas Janauskas on Ask me anything you wantCEO @ Qoorio, Co-Founder @ Vinted, Angel InvestorSome time ago
⚠️ Attention, experiment! ⚠️ Adam Malevski and I decided to try to have a public conversation on Qoorio. How does it work? Instead of chatting in private, we talk asynchronously on Qoorio via comments. We think that exposing such discussions might be beneficial for other people like Adam. Do you think this is a good idea? Let us know in the comments. Adam writes: “Hello, my name is Adam, and I’m founding app called Happer. I would like to get some advice about bootstrapping and launching a mobile app. How what are the best product launch strategies?” Me: I believe there is no such thing as a universally best product launch strategy. Every business is unique, therefore have unique, tailored specifically to that business strategies. Strategies of one business rarely fit other businesses. Figuring out the best strategies for your business is one of the key tasks of the founding team. Tell me more about your app, what it does, and what your current plan is to launch it?

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Adam Edvin MalevskiFounder of Happer
I forgot to mention that all activities in app are location based.
10 months ago
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Justas JanauskasCEO @ Qoorio, Co-Founder @ Vinted, Angel Investor
Do I understand correctly that the main concept is to connect two different kinds of people: (i) those who seek activities with (ii) those who organize/provide them? Or the main concept does not require different people to connect at the same time and place. Think of reading guidelines/tips for the best sightseeing routes and following them on your own. I am asking because the first and the second cases require very different approaches.
10 months ago
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Adam Edvin MalevskiFounder of Happer
The main concept is to connect people with same interests in the same place. The only requirement is to be in same area. Maybe example with sightseeing was bad because app won’t help guiding. Better example would be: imagine you came to Vingis park and want play beach volleyball. With app you would let everyone in park (or nearby) know that you want play volleyball there and connect to others.
10 months ago
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Justas JanauskasCEO @ Qoorio, Co-Founder @ Vinted, Angel Investor
So you (i) either annouce that you want to play volleyball, or (ii) you see other people who want to play it and then join them, correct?
10 months ago
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Adam Edvin MalevskiFounder of Happer
Correct
10 months ago
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Adam Edvin MalevskiFounder of Happer
Just came to mind: it's like Tinder but for activities.
10 months ago
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Justas JanauskasCEO @ Qoorio, Co-Founder @ Vinted, Angel Investor
In this case, one way of looking at your business is a marketplace way. In essence, you have two sides: (i) supply and (ii) demand. Supply is people who announce that they are looking for mates. Demand is people who watch what's available in the market in a certain area and join them if they like. A transaction is when people meet. A successful transaction is if people are happy after the meeting so that they recommend your service to their friends. I recommend you to read an excellent piece written by Lenny Rachitsky, ex Growth PM @ Airbnb. He is sharing insights on how to kick start marketplaces from 17 of today's biggest marketplaces, including Airbnb, DoorDash, Thumbtack, Etsy, Uber and many more: https://www.lennyrachitsky.com/p/how-to-kickstart-and-scale-a-marketplace In essence, the model is the following: 1. Constraint. Except for one company, every single marketplace he interviewed constrained their initial marketplace to quickly get to critical mass. To some, this may seem counter-intuitive — why limit your growth and opportunities when you start out? It turns out that the best way to get big is by first going small. In your case, consider constraining your business to a specific area (Vilnius?), and maybe even a specific one or a few activities (bbq, volleyball, etc.) before you go to other areas. This will allow you to spend your marketing euros more effectively, build critical mass faster, and learn faster on a smaller scale. Proving the concept in one area is faster than everywhere. And that can unlock opportunities for additional funding to replicate your local model to other areas. 2. Supply. The vast majority of successful marketplaces focused almost all of their resources on growing supply early-on (80% of the companies I interviewed, 14 out of 17). Consider focusing most of your marketing efforts on supply – people who announce that they are looking for mates. If there are no cool girls in Tinder, then there will be no demand for the app. Probably the same goes for your app. 3. Direct sales (supply). One-on-one direct sales ended up being a crucial lever for about 60% of the companies, twice as common as the next biggest lever (piggy-backing and referrals). Think of onboarding the initial supply directly – reach out to people and ask them to join your app, listen why they would or would not do that, iterate the product based on what you learn. 4. Word of mouth (demand). Word-of-mouth was the most important growth channel for over half of the companies. Though this isn't actually a growth "lever", it was an enormous growth driver for these companies. It was a strong early signal of product/market fit. In your case word of mouth is possible only if people are pleased after meetings. So, think of how to match them, so they have as many positive experiences as possible. Another piece I recommend you to read is by the same Lenny Rachitsky, ex Growth PM @ Airbnb, who collected first-hand accounts of how essentially every major consumer app acquired their earliest users, including lessons from Tinder, Uber, Superhuman, TikTok, Product Hunt, Netflix, and many more. His biggest takeaways from this research: 1. Just seven strategies account for every consumer apps' early growth. 2. Most startups found their early users from just a single strategy. 3. The most popular strategies involve going to your user directly — online, offline, and through friends. Doing things that don't scale. 4. To execute any of these strategies, it's important to first narrowly define your target user. 5. The tactics that you use to get your first 1,000 users are very different from your next 10,000. Read more in the link below. https://www.lennyrachitsky.com/p/how-the-biggest-consumer-apps-got
10 months ago
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Adam Edvin MalevskiFounder of Happer
Thank You Justas for great answer. It gave me great insights about initial launch.
10 months ago
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Justas JanauskasCEO @ Qoorio, Co-Founder @ Vinted, Angel Investor
Feel free to come back here to continue the conversation:)
10 months ago
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Thomas DesimpelAngel Investor, Polyglot, Real Estate Investor
following the conversation between you and ; what would be the main differentiator of your app as simular tools are already on the market (Eventbrite etc ) ? There are so many apps already on a user phone why would they choose yours? More important the 'chicken and the egg problem'..., Which one could be best for building your app?: Just trying to help😊🙂...: https://www.nfx.com/post/19-marketplace-tactics-for-overcoming-the-chicken-or-egg-problem/
10 months ago
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Justas Janauskas on Ask me anything you wantCEO @ Qoorio, Co-Founder @ Vinted, Angel InvestorSome time ago
Antanas Bernatonis asked: "I would love to ask if you could come back in your 20s, what would you do on everyday basis? Where would you invest your time and what would be the main advice you could give to yourself?" Me: I will start with my belief that every human being has a unique story of life, a unique path of how they got to where they are today. It is quite rare that the advice of a person to themselves apply to somebody else. Thus, don't take my answers for granted. They will probably not be useful pieces of advice for you or anyone else because of everyone's unique situation. I would suggest to ask the right questions to yourself and figure out the answers by yourself in a way that makes the most sense to you, as you have the most in-depth knowledge of yourself. And I suggest starting with the question 'What kind of life you want to have?'. Getting back to Antanas' questions, I can say that I feel quite happy where I am today. Thus I wouldn't change anything that I was doing in my 20s. And what was I doing? In my early 20s, I was coding 12-16 hours per day, it was my passion, I loved the process of building software and its impact on people. I mastered my professional skills. However, I wasn't mastering my soft skills, everything human-related. I was so bad at them that I even wasn't aware they exist. The phrase "emotional intelligence" was just a random buzzword to me. In my late 20s, I was running a company with 100+ people. My professional skills were irrelevant in that position. Soft skills were those which were needed the most. However, I had them completely undeveloped. Therefore my advice to myself would be "figure out what the heck is emotional intelligence and master it as good as you code". N.B. This is an experimental insight. What is the experiment? Instead of broadcasting insights based on what you think is interesting, broadcast them based on what people want to learn from you. Do you think it is a good idea? Let me know in the comments. Also, if you like to ask me more questions, do that from my profile. If you like the experiment and want to be asked, let us know! Photo below: my dog in dunes:)

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Yannick OswaldVC, Opportunities are Everywhere
love this!
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Justas Janauskas on Ask me anything you wantCEO @ Qoorio, Co-Founder @ Vinted, Angel InvestorSome time ago
What is the purpose of debate? Most of us, if asked, would say it’s about helping someone with an incorrect, harmful idea see the light. It’s an act of kindness. It’s about getting to the truth. But the way we tend to engage in debate contradicts our supposed intentions. Much of the time, we’re really debating because we want to prove we’re right and our opponent is wrong. Our interest is not in getting to the truth. We don’t even consider the possibility that our opponent might be correct or that we could learn something from them. As decades of psychological research indicate, our brains are always out to save energy, and part of that is that we prefer not to change our minds about anything. It’s much easier to cling to our existing beliefs through whatever means possible and ignore anything that challenges them. Bad arguments enable us to engage in what looks like a debate but doesn’t pose any risk of forcing us to question what we stand for. It’s never fun to admit we’re wrong about anything or to have to change our minds. But it is essential if we want to get smarter and see the world as it is, not as we want it to be. Any time we engage in debate, we need to be honest about our intentions. What are we trying to achieve? Are we open to changing our minds? Are we listening to our opponent? Only when we’re out to have a balanced discussion with the possibility of changing our minds can a debate be productive,avoiding the use of logical fallacies. Bad arguments are harmful to everyone involved in a debate. They don’t get us anywhere because we’re not tackling an opponent’s actual viewpoint. This means we have no hope of convincing them. Worse, this sort of underhand tactic is likely to make an opponent feel frustrated and annoyed by the deliberate misrepresentation of their beliefs. And if you’re a chronic constructor of bad arguments, as many of us are, it leads people to avoid challenging you or starting discussions. Which means you don’t get to learn from them or have your views questioned. In formal situations, using bad arguments makes it look like you don’t really have a strong point in the first place. Read more about bad arguments and how to avoid them: https://fs.blog/2020/05/bad-arguments/
Bad Arguments and How to Avoid Them
fs.blog
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Justas Janauskas on Ask me anything you wantCEO @ Qoorio, Co-Founder @ Vinted, Angel InvestorSome time ago
Being in a privileged position, I want to give back. During my last 12 years as an entrepreneur, I have found myself in many good and bad situations. I have made millions of mistakes, yet found the way out often thanks to other people I considered smarter than myself. Merely seeing a different perspective through their eyes on a situation I wanted to change often was the first step to find a solution whether that was business, life, or career. Being in a privileged position as a unicorn co-founder (Vinted), I want to give back: I am offering my experience & perspective to young entrepreneurs and other fellows who believe I can provide a helpful perspective on their business problems. I will not solve your problems. Only you can do that, yet, I might offer a different approach to your problem. I have already reserved 1-2 slots per week for whoever wants to talk to me. During last year, I have already done close to 100 such meetings/calls, and, based on the feedback, people were happy (5 out 5 stars). Yes, I am doing this through this platform. I charge a symbolic fee for a meeting because I learned that there is a massive difference in people’s motivation, whether they pay or not. Well, there is no free lunch, after all. And yes, all proceeds automatically go to a local dog shelter as a charity. Some of you might know that I am a big fan of dogs 🐕. I will respond to all meeting requests, yet will accept only those which I believe are relevant to me. So, please be specific on your problem/situation prior sending me a request. Also, I might have a queue of requests/meetings, so please give me time to come back to you. To those who don’t know me, briefly: I am an engineer in my heart. I was coding since I was 10. I represented Lithuania in international olympiads in informatics when I was at school (yet, never got the medal). I made my first exit when I was 14 and since then worked as a software developer. At age of 24, I co-founded Vinted, which 12 years later became the first Lithuanian unicorn. I left my own company when I was 34 (it was both a happy and painful experience). Today I am building Qoorio, a platform to connect people like you and me. I experienced working, studying, and building a company all at the same time by day & night. I have hired over a hundred people and fired tens. I raised tickets from €5k to €25m. I pitched to hundreds of investors of all kinds: angels, seeds, growth, PE, investment banks, etc. I was micromanaging people, bullying people, empowering people, making their dreams and nightmares come true. I was the best leader and the worst one. I have seen teams coming together, I have seen teams breaking up. I have seen companies dying, and I have seen companies skyrocketing. I made brilliant decisions, and I made terrible decisions. I was in euphoria many times, and I was in hell even more times. I have been the winner, and I have been the looser. I was loved by some people, and some other people hated me. Some people thought I am a genius, marketing guru and a mastermind, while other people thought I am a delusional psychopath. Well, after all, if you think I can be of any help to you, then let’s talk! If not, then share this message with those who might want to talk. 🙇‍♂️🚀💪🦀
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Mauricio PatiñoCreator and dreamer, guitarist, painter, physics, science fiction
Hi Justas, how are you? . I Find you a year ago through linkedin. I'm the founder of Birdi, the postmates for second-hand products in latin america. It Would be great if you can share your experiences and insights from developing a big marketplace like vinted. We are in a pre-seed round making traction an revenue. Thanks!
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