{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/668024d05cd64e8b86718671/669629c85b0790d764f99ae0?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Why hiring entrepreneurs drives success and scaling Zip Co - with Tommy Mermelshtayn","description":"<p>Tommy Mermelshtayn, the former Chief of Strategy at Zip, discusses his career journey and the expansion of Zip into new markets. He shares insights into the decision-making process behind entering new markets and the factors considered, such as market size, competitive landscape, and regulatory environment. Tommy also explains the approach of Zip in engaging local talent and the importance of having boots on the ground in each market. Overall, his experience highlights the challenges and opportunities of scaling a business internationally. The conversation explores the challenges and strategies of entering new markets. It emphasizes the importance of having a founder mentality, resilience, and grit. Common mistakes in entering new markets include underestimating licensing and timing, as well as the need for the right people. Timing and relationships with funders play a crucial role in market expansion. It is essential to identify and address problems effectively. Pull factors from merchants and push factors from the management team contribute to market expansion decisions. Founders should consider the readiness of their core business before entering new markets. Emerging markets offer exciting opportunities for growth.</p><p><br></p><p><strong>Chapters</strong></p><p>00:00 - Introduction and Background</p><p>02:52 - Joining Zip and Career Path</p><p>06:02 - Expansion into New Markets</p><p>10:06 - Listing on ASX and the Decision to Go International</p><p>14:53 - Entering New Markets: Acquisition vs. Greenfield</p><p>21:54 - Founder Mentality and Resilience</p><p>23:16 - Common Mistakes in Entering New Markets</p><p>24:29 - Underestimating Licensing and Timing</p><p>25:24 - Finding the Right People</p><p>27:02 - Importance of Timing and Relationships with Funders</p><p>28:07 - Identifying and Addressing Problems</p><p>29:14 - Pull and Push Factors for Market Expansion</p><p>30:16 - Determining Readiness for Market Expansion</p><p>33:26 - Considering International Markets for Growth</p><p>36:36 - Exploring New Markets in Stagnating Local Market</p><p>39:29 - Exciting Markets for Expansion</p><p><br></p><p>Proudly supported by Carta, Google Cloud, Fuelled Insurance and Seven Legal.</p>","author_name":"Sam Marchant"}