The Mint Recap: Fireside Chat with Yinon Ravid of Albert
A few weeks back, Yinon Ravid, CEO & Founder of Albert, spoke to our accelerator batch. Yinon shared valuable reflections, including those on being a wartime CEO and going from burning cash to profitability, so we’re sharing some of the insights and learnings.
1. Product market fit = building things people love enough to pay for.
When customers love a product, they will pay for it. If a customer is unwilling to pay for a product, the product almost certainly does not have product market fit and needs improvement.
2. Maximize growth, not profit.
When cash burn stops, shift company focus from profit to growth. Keep 5-10% revenue as a buffer and invest the rest into growth. For a consumer biz, this means more marketing; for a b2b enterprise, growing sales; for both, hiring more great people.
3. Create a framework for what comes next.
When thinking about what products to launch, when, and how to sequence, you should have a structured approach. Yinon recommended prioritizing based on the product’s (i) value to customers, (ii) TAM usage %, and (iii) margins.
4. Spend on things that matter.
Every expense should result in something positive, whether it be returning money, increasing productivity, or bringing joy. If an expense does none of these things, it is wasteful. Be especially careful with recurring expenses!
5. Savings > revenue.
Savings go right to the bottom line, and revenue is not profit. Yinon suggested that companies should prioritize projects that save money before trying to increase revenue.
