Teachable Employee to Circle CEO/Co-Founder- Sid Yadav's remarkable story
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- čas přidán 28. 02. 2024
- Join us in an inspiring journey with Sid Yadav, co-founder and CEO of Circle, as he shares his transformative path from being on the founding team of Teachable to creating a groundbreaking online community platform. Discover the challenges, milestones, and strategic decisions behind building a business with a $32 million annual recurring revenue. Sid offers unparalleled insights into entrepreneurship, the importance of community, and the future of digital engagement. Whether you're a budding entrepreneur, a tech enthusiast, or simply fascinated by success stories, this video is a deep dive into what it takes to scale a startup into a thriving enterprise.
Key Insights and Takeaways
• Do the work and maximize time with your smartest friends - don't just think about ideas, take action.
• Share and get feedback early - don't wait for perfection before putting your ideas out there.
• It's better to ship something a bit crappy than not ship at all - you can always improve it.
• Specialize and hire people who are better than you to solve specific problems.
• Pause initiatives strategically to align resources with goals.
• Provide specialized value beyond what platforms like Facebook offer.
• Leverage latest technology like AI to enhance products and experiences.
• Think long-term and focus on sustainable growth over speed.
• Remember that failures provide invaluable lessons if you're paying attention
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Host: Chris Do (Bald Asian Guy Talks About Business)
Cinematographers/Editors: @RodrigoTasca & @Tascastudios MOCS Media
From the perspective of a creator, I might be wrong here but:
To be very honest (because I know you guys like genuine feedback) I don’t know if I found this interview very valuable. I feel the talk was a comprehensive pitch to investors for a new round of funding. I personally (as a creator who might be able to take advantage of circle) don’t feel like I walk away from this with very much value other than bullet point features and stats about the company.
I loved the beginning chat about how to part ways with a company properly. But that’s about it.
Just my honest thoughts, I really appreciate the content!
At the end your guest said something about the apprehension that perfectionism breeds that reminded me of something Marshal Rosenberg said… “Anything worth doing is worth doing poorly.” Ok I’m sold and inspired… thanks for that. Cheers and much gratitude 🙏
Such underrated content.
Absolutely fascinating stories.
00:00 🎓 Sid Yadav shares his transformative journey from being part of Teachable's founding team to becoming the co-founder and CEO of Circle.
02:32 💼 Sid Yadav reveals his pivotal decision to leave Teachable to pursue his entrepreneurial aspirations and the initial support he received from his mentor and former employer.
05:18 🚀 Sid Yadav emphasizes the significance of learning from failure during his time at Teachable, attributing much of Circle's success to the lessons learned from past mistakes.
10:10 💡 Sid Yadav discusses the evolution of his entrepreneurial vision, recognizing the potential for community-driven platforms beyond traditional course-based education.
13:48 💰 Sid Yadav shares the nerve-wracking conversation he had with his former boss at Teachable about leaving the company and the unexpected investment and support he received for his new venture, Circle.
19:29 🛠 After leaving Teachable, Sid Yadav took three months off to recharge and reconnect, then started consulting while formalizing his founding team for his next venture.
23:31 💡 Sid Yadav and his co-founders spent six months exploring over 10 different ideas for their startup, focusing on building a product for creators in the SaaS space with recurring revenue and community engagement.
25:47 🏖 Sid and his team chose Santa Monica for a weeklong intense prototyping session due to its conducive environment for focus and collaboration.
27:24 🤝 Despite being a remote-first company, Circle's initial founding moment in one physical space was crucial for ideation, brainstorming, and building team dynamics.
32:47 ⚙ Circle faced challenges with speed and performance in its early days but overcame them by gradually building a specialized team of engineers and designers who excelled in their respective areas.
36:14 💰 Circle's revenue trajectory: from $500K ARR at the end of 2020 to $4 million ARR by the end of 2021, with a $4 million seed round funding at a $40 million valuation.
38:01 💼 Circle experienced significant growth in Annual Recurring Revenue (ARR) despite challenges like the COVID-19 pandemic, with a trajectory aiming to double year-over-year.
38:58 📈 Circle aims to achieve profitability by mid-2025, emphasizing the importance of being cash flow positive and owning one's destiny as an entrepreneur.
39:53 🔍 Most of Circle's expenses are directed towards human resources, including R&D for product expansion and non-technical functions like customer support and sales.
43:29 🛠 Servers and infrastructure constitute about 10% of Circle's revenue, with a gross profit margin of around 80%, allowing for scalable growth.
46:59 🔄 Circle's primary competitors include Facebook groups and Slack, with differentiation focused on offering an all-in-one platform for creators and educators.
50:17 🎯 Circle plans to enhance its platform to assist users in audience building (start) and scaling their businesses, addressing current weaknesses and opportunities.
54:00 🤖 AI technology presents opportunities for Circle to improve features such as smart feeds, intelligent image suggestions, and streamlined content creation processes.
56:36 🔄 Enhancing the platform's flexibility to accommodate various monetization strategies, onboarding processes, and payment plans is a priority for Circle to reduce friction for users.
57:29 💭 Sid Yadav and his team at Circle spend hours weekly ideating about the future, envisioning what Circle might look like in the years to come.
58:37 🔄 Circle aims to create a cohesive user experience where users can access various features seamlessly with one username and password, integrating different functionalities elegantly.
59:46 💡 The mission of Circle aligns with providing accessible education through leveraging internet platforms, fostering community engagement and learning opportunities.
01:01:40 🛠 Circle offers features like live chat, messaging, and customizable event organization, catering to the diverse needs of educators and learners.
01:06:34 🤝 Building meaningful connections and maximizing time spent with close collaborators is crucial for success, emphasizing action over procrastination in entrepreneurial endeavors.
01:08:52 🚀 Overcoming perfectionism and fear of failure is essential; sharing ideas and publishing work allows for feedback, growth, and the realization of potential projects.
Thanks a lot
❤ this type of content
Fedora is a Linux distribution (operating system) so keeping that name would be confusing for sure. Teachable is much better!
sometimes it's hard to exit procastination mode and enter do it mode ^^