Episode 91
February 1, 2022

Speed Wins

with Yaw Aning, Co-Founder and CEO of Malomo

About this episode

In this episode, Lee is joined by Yaw Aning, the Co-Founder and CEO of Malomo, a shipment tracking platform that helps ecommerce brands turn order tracking from a cost center into a profitable marketing channel. Yaw shares with us his journey from starting his first company in college, to working as a Domino’s delivery driver, to running a custom software development business which led him to create Malomo. He talks about the art of fundraising, and why speed always wins

This episode is sponsored by

Exclusive Deals from Our Sponsors:

  • Get 30% off your first 3 months with Malomo by going to: https://gomalomo.com/stairwaytoceo
  • Use the promo code STAIRWAY200 for $200 off Outer furniture by shopping HERE
  • Get 2 months FREE with Gorgias by clicking HERE and mentioning the podcast

In This Episode You’ll Hear About:

  • What is was like growing up in Minnesota with a snail farm in his house 
  • How the passion his parents had for side hustles gave him the passion for entrepreneurship and pursuing his own company
  • His time working in investment banking and how it was a blessing in disguise
  • How he launched a reading game app for kids, and how this experience taught him a tough lesson about distribution 
  • The thought process of going through the shut down of his first tech company after three years of hard work
  • How he landed his first contract with Rolls Royce, and the challenges and sacrifices made in building his software development company
  • The inspiration for Malomo and how wanting to protect brands ability to grow gave them the idea for the business
  • What he’s learned about fundraising and how it’s an art that takes a lot of momentum
  • His advice for up and coming entrepreneurs, and why it's important to just get going because speed always wins

To Find Out More:

https://gomalomo.com/ 

If you're building a brand and interested in checking out Malomo you can get 30% off your first three months by going to gomalomo.com/stairwaytoceo.

Quotes:

“I had to figure out a way to separate what the company's successes and failures are from what my personal successes and failures are.”

“In software, people think they're buying a product, but they're really buying a service.”

“You want to shield the team from that stress. And you also don't have an outlet for it. You kind of have to eat it and bottle it up and it keeps you up at night.”

“One of the stigmas of entrepreneurship is you always have to project success and momentum to grow.”

“We talked with some clients and asked what some of their problems are on post-purchase, what are things that come to mind and the number one response was tracking.” 

“Being able to proactively alert customers and give them transparency into when orders have arrived has a massive impact on how they view a brand.”

“One of the biggest things that we saw was that companies built way too much, way too early, and didn't release it fast enough.”

“If something goes wrong, we'll notify you and also notify our internal resources and try to resolve those things quickly, but we're also trying to engage and keep you excited and motivated for that purchase to arrive and give you utility beyond the package.”

“Fundraising is very much selling vision and storytelling and focusing on how your market evolves over time or changes because of the product of the service that you built or introduced.”

“Momentum in fundraising is everything” 

“You have to be very good at learning things really quickly and being able to do things quickly. The hard part is, at a certain point you have to be irrelevant to the business and you have to stop doing and actually start.”

“Just go start, get something in front of folks and get feedback. Don't wait for it to be perfect. If you wait, you'll lose, speed wins.”

Read the transcript

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