Antoine Le Nel

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219 appearances 1 recordings 1 series first heard Oct 2024 last heard Oct 2024

Antoine Le Nel’s voice in public audio — every appearance, attributed to the second.

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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch · 20Growth: Revolut's Chief Growth Officer on The Growth Playbook Revolut Used to Scale to $2.2BN in Revenue | How Revolut Launch and Grow Products | Why the Best PMs Don't Need A/B Tests & Why CAC is a BS Metric with Antoine Le Nel · 18 Oct 2024 podcast

And then we close the loop so that we do have the feedback loop.

you do with the lead but the 10 people beneath them who are all but they do the same on their side at their level you know and you think that's the same yeah i mean that's the objective yeah because is it right after the meeting well i mean as it's every week it's either before or after you know it's like because if it's one or two day before one or two day after it's like it's more you don't see us before or after it's just a cycle you know it's like so you get always the feedback loop

What's in a problem-solving interview?

Well, it's like a case study. We tell you, okay, I have this problem. I mean, it can be a marketing campaign, et cetera, et cetera. And then we ask the candidate, what do you think the problem is and how would you solve it? And so on. So it has nothing to do with what you've done or seen in the past, but it's more about how do you decompose and simplify the problem?

Because at the end of the day, every problem is quite simple. You just need to slice it at the right level of granularity so that suddenly a big problem just becomes 10 small problems and then you solve them one by one and then you get there and you don't try to find a miracle solution by being Einstein and super complexified. No, I mean, there's no need for that. Just do it simple.

Keep it simple.

What are the biggest mistakes that you think people make in hiring and growth?

I think they hire generous people to run stuff. So they end up running many things in a pretty average way. So it's better to do less and deeper than try to have a lot of breadth and do many things in a just okay-ish way. And then they hire growth managers, which I have no idea what a growth manager is. They manage growth. Yeah, but like, what is growth? What is growth? Is it virality?

Is it performance marketing? Is it some brand marketing aspect? What is it? Is it pricing?

Is it, well, I mean, you can do anything, you know? Well, you said, what is growth? You know, when we were chatting before, you mentioned 10x or 100x. The thing I'm never sure about with growth is like, is growth's role, let's try this big picture new product that's going to change Revolut forever. Or is it, let's iterate on all of these little things that combined will add up to a big thing.

Definitely the second one.

I'm a huge advocate of the second one. I'll give you a very simple analogy. You know, look at Usain Bolt. Everyone remembers Usain Bolt. But he was not winning by much. He was not winning by 10x. He was winning by a hundredth of a second and so on because he was able to optimize the departure, this, et cetera, et cetera. So he was not 10x better than everyone.

But at the end, everyone thinks he was 10x better. You see what I mean? And it's because growth is a bidding war. It's a bidding war. It's about whether you're able to bid above everyone else on all the different channels at the end of the day. The question is, how are you able to bid above everyone?

And how do you optimize every single step so that you're the winner takes it all in growth, the winner takes it all? And that's why it's ultimately because you optimize every single part of either the funnel, either the creative, either your bidding strategy, et cetera, et cetera.

It's every single element that's like small increment of 1% here, 2% there, et cetera, et cetera, that add up to put you on top of the waterfall and to take it all.

So people are wrong to think then that it is these kind of moonshot bats that is great. I think so, totally.

So they fish for the moonshot and so on, while actually it's just down there being excellent in the execution, everything you do at the lowest level of granularity. And once you have everything, that's why, you know, when I was saying, if someone asked me, what is the success of Revolut? It's a million things.

What have you not optimized with Revolut yet that you need to optimize?

I mean, I think we're still very much at the beginning of building our brand marketing. I think we're still a very young brand. That's probably the biggest work that we have ahead of us is to find the right way to position the brand and inspire people. That's the biggest. What does great brand mean to you? So first of all, about brand, the question is, where does brand fit?

Is brand a marketing thing or a product thing? Because a lot of people think about brand on marketing. And I'll give you two examples. Out of a sample of two, which is King and Revolut, the brand was much bigger before a single dollar of marketing was spent. So the brand had nothing to do with marketing. It was a huge brand before putting any penny into it.

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