Following up from our last interview of Checkbox CEO Evan Wong, we interviewed another startup CEO who’ is making waves in Australia and abroad – Speedlancer CEO, Adam Stone.
Freelancing startup Speedlancer hires qualified freelance designers, writers, and data entry professionals that businesses could employ on a freelance basis. The startup helps businesses save time that was previously wasted on bidding and hiring freelancers so that the jobs gets done as quickly as possible.
We spoke with Adam on his journey of becoming a serial entrepreneur and his breakthrough success of Speedlancer in the freelancing industry.
About Adam Stone, CEO of Startup Speedlancer
Adam is an entrepreneurial prodigy in every sense of the word. Founding his first startup , IDC.Ventures, at age 12, Adam has amassed significant experience in building and managing teams, meeting clients’ expectations and day-to-day operations.
My name is Adam. I’m the founder of Speedlancer, and a recent Forbes 30 Under 30 Asia awardee. I’ve been passionate about business since the age of 12, and have since led an ecommerce company to over 130,000 paying customers, and Speedlancer to where it is today.
In addition to being the founder and CEO of startup Speelancer, he is also an angel investor at Grid Cure. All this is supported by his extensive knowledge of finance and law, thanks to his undergraduate degree.
Here is a video of Adam explaining his freelancing startup Speedlancer:
Achievements So Far
Speedlancer’s unique positioning in shortening the lengthy hiring and bidding process for businesses makes it a great freelancing business model. Because of this, Speedlancer has grown its clientele to include small and enterprise level businesses, including PwC and Max Real Estate.
On this, Adam highlighted his freelancing startup Speedlancers’ proudest achievements:
We’ve helped 1600 customers and grown our average cart size by 100x since launching.
First Idea That Got Rejected
The need to meet tight project deadlines using the best talents remains a key challenge in the current fast-paced business landscape. While Speedlancer was set up to fill the gaps for both the businesses and the freelancing community, it was not the original idea that was a success.
When asked about this, Adam mentioned:
Originally Speedlancer was focussed on delivering one-off tasks, but customers wanted to use us for project-based work, so we launched a new product line called Bundles.
Because of this, Speedlancer had to evolve and adapt to the needs of the market.
Finding the Right Niche
Pinpointing the right target market and niche for any business idea is the hardest part of the whole process. But, since every excellent idea often is a step-up from an existing or flawed business concept, discovering the right niche is not that difficult.
For Adam, he experienced the problems of businesses when outsourcing talent and came up with the perfect answer:
I was outsourcing for my previous business, and saw the problems first-hand and decided to try solving it!
Secret to Building The Right Team
As a freelancing startup owner, Adam leads by example. He employs customer service representatives from Bangladesh, developers from Brazil, and retains marketing team members in Sydney. But, regardless of how the work is organized, teams have to be built through the proper channels and on the right principles.
We asked Adam on how he met his team and what he looks for when hiring Speedlancer members. He replied:
I met them through general networking, and online platforms. I look for passion and work-ethic, and willingness to learn, above all else.
Mistakes Every Owner Should Avoid
It is natural for every entrepreneur to stumble upon hurdles when taking their business ideas from concept to launch stage. Adam, having had several years of experience as an entrepreneur, had this to say:
Test the market first, create a marketing plan before thinking about starting, and ask for help (and network) more.
Advice For Entrepreneurs in 2018
Adam’s journey as a CEO and founder of two startups has plenty of important lessons for entrepreneurs who are serious about becoming successful with their ideas.
Adam has this key piece of advice to share:
Reduce the risk of starting out by thinking cleverly about how much money is really required to build an MVP.
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Subhan Alam is a Digital Marketing Enthusiast at Cloudways, a Managed Cloud Hosting Platform. He works on different regions and is passionate about implementing new approaches in Digital Marketing. He likes to stay fit and meditates daily.
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