20VC: Wolt CEO, Miki Kuusi on Leadership Lessons Scaling to a Reported $8.1BN Exit to Doordash, Building Teams not Families, The Difference Between Trust and Safety Within Companies, How To Use Compensation to Create Culture & Why You Should Not Be Lookin
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Episode Highlights
Resilience
Miki Kuusi's journey with Wolt is a testament to resilience and perseverance. In 2017, facing a dire financial situation, he had to lay off a third of his staff, a decision he describes as the most difficult day of his career 1. Despite the challenges, Miki emphasizes the importance of executing difficult decisions to transform a good company into a great one. He shares a valuable insight from a mentor: "The difference between good and great companies is that both know what needs to be done. Only the great ones execute on the truly difficult things."
The difference between good and great companies is that both know what needs to be done. Only the great ones execute on the truly difficult things.
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Miki also highlights the mental resilience required as a founder, noting that maintaining momentum is crucial and often more challenging than achieving it 2. He advises founders to trust in what they have built and to manage their mentality to sustain their company's growth.
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Money Perspective
Miki Kuusi's relationship with money has evolved significantly throughout his entrepreneurial journey. He reveals that his motivation has never been about financial gain, even when faced with lucrative acquisition offers early on 3. For him, the opportunity to build something meaningful outweighs immediate financial rewards. Miki reflects on the relentless pursuit of ambition, acknowledging that for those driven to create, satisfaction is elusive. "I've learned over the years that if you're one of these personalities just wants to build something, you're never gonna be satisfied," he shares.
I've learned over the years that if you're one of these personalities just wants to build something, you're never gonna be satisfied.
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This mindset fuels his continuous drive to reach new heights, despite the challenges and uncertainties that come with it 4.
