57: Erik Allebest - From 0 to 150 million ARR - The Chess.com story

Summary Chess.com has grown from being a simple chess service to a thriving 150 million ARR business. The company has focused on making chess accessible to everyone through services around a product that hasn’t changed in centuries. We touch on the challenges of scaling a company and the role of titles and leadership in an organization and how many times Erik wanted to give up in the process. Erik talks about the need for passion and love for the product, and the importance of hiring people who align with the company's mission. Takeaways Chess.com has expanded its user base beyond the chess community by making chess accessible to everyone instead of just pros. Titles should not be the focus, and it's more important to hire people who are passionate and aligned with the company's mission more than anything else Finding a balance between managing the company and staying involved in the product is key for being a CEO at a scale of 500 people and more. Sound Bites "Anyone can have a relationship with chess. It doesn't have to be old white guys in suits. It can be all genders, all ages, all races, all countries, all intellectual capacities. Chess is for everyone." "Chess.com could not only serve the community, but we could grow the game and change the definition of who identifies as a chess player." "Our next phase as a company is to be an engagement-focused business and drive revenue to invest in building the game and driving cooler media." "Making money is just the fuel for the mission" Chapters 15:39 Expanding the Chess Community 30:08 The Role of Growth Teams in Retention and Value Creation 37:03 Understanding User Cohorts and Behavior Tracking 39:21 Driving Revenue Growth Through Churn Analysis 41:29 The Role of Revenue in the Company's Mission 45:02 Using Metrics to Drive Product Improvement 54:04 The Challenges of CEO Responsibilities 01:02:32 Separating Leadership and Management Roles My Blog / Newsletter: www.leahtharin.com Linkedin:   / leahtharin   Twitter:   / leahthar   #productledgrowth