Yuri Levin achieved what many entrepreneurs can only dream of. That's creating two companies each worth more than $1 billion. What's his secret? We focus on solving everyday problems that our customers face.
On a recent episode of the Corporate Competitor podcast, Levine shared insight into what makes Waze, a popular navigation app used by millions of people every day, and Moovit, a leading public transportation app, successful. “The easiest way to create value is to solve problems,” Levine says. “When you focus on a problem, that problem acts as the north star of your journey. When you have [that]That way you will be less likely to deviate from your course and increase your chances of success. ”
Although Levine made a name for himself in the technology industry, his focus was on meeting the needs of his customers. “If I say I'm going to build an AI crowd source-based navigation system, you'll say, 'Yeah, that's very interesting,' but you don't really care. If I say I'll help you avoid traffic, you You care,” Levine said. “When your customers care, they want you to succeed.”
Mr. Levine's success story is a testament to his approach. Google acquired Waze in 2013 and Intel acquired Moovit in 2020. Both transactions totaled more than $1 billion. Levine also noted that more than 75% of Waze employees became millionaires after the acquisition, allowing the team to share in that success.
In this episode of the Corporate Competitor podcast, Levine discusses key lessons for achieving success, including:
• The importance of rewarding teams beyond just financial incentives throughout the company's journey.
• How his love of basketball, cycling and skiing influenced his business strategy
• The value of striving for “good enough” solutions, as fear of failure can inhibit innovation.
Above all, Levine emphasized the need for companies to craft compelling stories that resonate with customers.
“When you start creating a story, what do you often focus on? you But that's not what listeners are interested in. What they really want to know is what benefits it brings or what the relationship is. they“Engagement occurs when I make you smile and have you reflect on your own experience. That's the moment I got your attention.”
