Thanks for posting, this is super interesting!
Learning #1 is also my top learning from starting a company.
It sounds like Tyve didn’t have proper product / market fit and hence you struggled gaining more customers if I read it correctly? Looking at Deed, their posterchild efforts seem to be climate change and LGBTQ rights, which many startups/employees already care about greatly, so I can see executives viewing the product as a good way to showcase their company’s committal to DEI etc.
Did you go more with a bednets and effective giving pitch? Ofc I’m just speculating here.
That’s right re: PMF. We were very open about what causes people could support but I think you could be right that leaning into e.g. climate change could have helped. My sense was that companies in the UK preferred other ways to contribute to these causes because: 1. Donating money feels less direct than interventions like recycling, not using plastic, vegetarian catering 2. HR didn’t want to be seen to ask people to give their money away (this felt awkward for some) 3. There are activities which are more visible, feel-good and cheaper to signal support (e.g. charity fundraisers).
Thanks for posting, this is super interesting! Learning #1 is also my top learning from starting a company.
It sounds like Tyve didn’t have proper product / market fit and hence you struggled gaining more customers if I read it correctly? Looking at Deed, their posterchild efforts seem to be climate change and LGBTQ rights, which many startups/employees already care about greatly, so I can see executives viewing the product as a good way to showcase their company’s committal to DEI etc. Did you go more with a bednets and effective giving pitch? Ofc I’m just speculating here.
Glad to hear Jan.
That’s right re: PMF. We were very open about what causes people could support but I think you could be right that leaning into e.g. climate change could have helped. My sense was that companies in the UK preferred other ways to contribute to these causes because:
1. Donating money feels less direct than interventions like recycling, not using plastic, vegetarian catering
2. HR didn’t want to be seen to ask people to give their money away (this felt awkward for some)
3. There are activities which are more visible, feel-good and cheaper to signal support (e.g. charity fundraisers).