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How to turn around old-scool print business to
3rd fastest growing company in Finland* and to
61st fastest growing company in Europe*
*Deloi'e	Fast500	ranking,	2015	
@lavas
Ilkka O. Lavas
•  3 books about entrepreneurship
”Unstoppable Entrepreneurship, Amazon”
•  Partner, board member, investor
–  Portfolio of 15 businesses
–  10+ aquisitions done
–  4 exits
•  Young Entrepreneur of the year 2009 in ’Southern
Finland’
•  36years, 2 sons, 1 wife,
2,8k+ fb, 1.1k insta
2,7k+ linkedin,
Snapchat @ilkkalavas
5,5k+ twitter @lavas
@lavas
EXITs:	
Import & Export software
@lavas
How to grow your business? #scaled16 case City Digital
”Stop	print	business	
and	do	100%	digital	media.	
Digital	media	is	scalable!”	
@lavas
We	are	more	
interested	in	
print	business	
@lavas
Lesson 1: Dream Big
@lavas
2012:	”I	wish	we	could	be	bigger	than	iltalehK	in	Finland”	
"Be	careful	of	your	thoughts,	for	your	thoughts	become	your	words.	
	Be	careful	of	your	words,	for	your	words	become	your	ac7ons.	
	Be	careful	of	your	ac7ons,	for	your	ac7ons	become	your	habits.	
	Be	careful	of	your	habits,	for	your	habits	become	your	character.	
	Be	careful	of	your	character,	for	your	character	becomes	your	des7ny.”	
-	Author	unknown	
2015	this	happened	
@lavas
Media	DigitalizaKon:	City	Digital	
How	did	we	jump	to	Finnish	top10	list	in	11	months	
TransformaKon	from		
suffering	print	magazine						into				Growing	and	Successful	City	Digital	Media	Family	
@lavas
City.fi	–	number	of	visitors	
STATISTICS	OF	
VISITORS	
0	
500,000	
1,000,000	
1,500,000	
2,000,000	
2,500,000	
3,000,000	
3,500,000	
Q4	 Q1	 Q2	 Q3	 Q4	 Q1	 Q2	 Q3	 Q4	 Q1	 Q2	 Q3	 Q4	 Q1	 Q2	 Q3	 Q4	 Q1	 Q2	 Q3	 Q4	
2012	 2013	 2014	 2015E	 2016E	 2017E	
Acquisition	of	
City	by	Ilkka	
Lavas	
Company	name	
to	City	Digital	
Digital	media	family	
establishment	
Increasing	#	of	
cooperative	blogs	
Establish	new	media	
families	from	new	
subjects	and	themes	
STRICTLY	CONFIDENTIAL	
Buy	Klikki	Network	&	
Establish	Improve	Media	
Omiste:u	media	
Eduste:u	media	
@lavas
Media	Digitalization:	City	Digital	–	How	did	we	jump	to	Finnish	top10	list?	
STATISTICS	OF	
VISITORS	
0	
500,000	
1,000,000	
1,500,000	
2,000,000	
2,500,000	
3,000,000	
3,500,000	
Q4	 Q1	 Q2	 Q3	 Q4	 Q1	 Q2	 Q3	 Q4	 Q1	 Q2	 Q3	 Q4	 Q1	 Q2	 Q3	 Q4	 Q1	 Q2	 Q3	 Q4	
2012	 2013	 2014	 2015E	 2016E	 2017E	
Acquisitio
n	of	City	
by	Ilkka	
Lavas	
Company	
name	to	
City	
Digital	
Digital	media	
family	
establishment	
Increasing	#	of	
cooperative	
blogs	
Establish	new	
media	families	
from	new	
subjects	and	
themes	
STRICTLY	CONFIDENTIAL	@lavas
How to grow your business? #scaled16 case City Digital
”Growth is important, and
most great companies
take it seriously.”
- Adam Nash, Wealthfront (LinkedIn, eBay,
Atlas Venture)
@lavas
Growth,	is	about	increasing	…	
•  Revenue
•  Traffic
•  Sales per customer
More	
customers	
More	
revenue	
More	value	
per	customer	
@lavas
Lesson	2	
Start	with		
growth	minded		
people	
@lavas
There is no such a thing as a
GROWTH CORPORATION
Mindset?	
Carol S. Dweck (2012). Mindset: How You Can Fulfill Your Potential
@lavas
Yes!	We	can	be	even	be'er	in	digital!	
Carol S. Dweck (2012). Mindset: How You Can Fulfill Your Potential
							+200%
Companies	are	ALWAYS		
made	of	people	to	people	by	people	
@lavas
People make companies grow
HowTo: Build growth minded company culture?
•  Change owners
–  Buy and turnaround
–  Some owners are risk takes, some are cash cow lowers
•  Change management
–  Hire growth minded managers, set growth goals
•  Change people
–  Hire new
–  Teach old (oh yes, many old dogs can learn new tricks)
–  > New Culture
@lavas
Growth	Mindset	ßà	Growth	Culture
3rd	lesson.	Scale!	To	grow,		
you	need	to	mulKply	something	
X 1
X 10
X 100
X 1 000
X 10 000
X 100 000
X 1 000 000
X 10 000 000
X 100 000 000
X 1 000 000 000
X 10 000 000 000
X 100 000 000 000
What	can	you	mulKply?	
@lavas
3rd	lesson.	Ask	yourself:		
What	can	we	mulKply?	
Scalable
•  Customers
And what customers you choose?
•  What channels customers use?
•  Unique Visitors
•  Online Sales
•  Programmatic Sales
•  Ad Inventory
•  Restaurants
•  Table Reservations
•  People who are Dating on Deitti.net
Not scalable
•  More salespeople
•  Face 2 Face sales
	
	
	
Dropbox	income	99e	/year	per	user	
Cost	per	user	first	year	(user	acquisiKon	cost,	
hosKng,	storage,	etc)	233-388	e		per	new	
customer	before	growthhacking.		
-	Economics!	!!!!!!	Profitability!!!!!	
	
Virality:	AdverKsing	did	not	work.	”Invite	your	
friends,	refer	friend,	install	to	you	phone”.	
”You	get	more	space”	
	
PrioriKze:	
Scale	what	is	scalable	and	profitable,		
stop	doing	everything	else		
	
@lavas
Freemium	->	premium		
Multiple amounts of customers / uniques visitors / ad impressions
•  Shopify 30k+
•  Salesforce 100k+
•  Yammer 200k+
•  Slack 2 M+ daily
•  GitHub 1,9M
•  Mailchimp 2M
•  Google apps 4M
•  Freshbook 4,5
•  Google analytics 30M
•  Evernote 30M
•  Dropbox over 50M people are on dropbox
	
	
	
	
2	M	daily	users,		
	
0,57	M		
PAID	Accounts	
	
@lavas
Case	City	Digital.	What	did	we	mulKply?	
What did we multiply?
Ad impressions
2012: 800 000 ad impressions
2013: 6 000 000 ad impressions
2014: 14 000 000 ad impressions
2015: 160 000 000 ad impressions
Amount of customers
2012: 40 customers
2013: 200 customers, 30% paying digitally
2014: 4000 customers, 50% buying digitally
2015: 10000 customers, 70% paying digitally
@lavas
4th	lesson:	Never	stop	improving.	
	Scale	now,	scale	forever	
1.  Always Improve
2.  Always Innovate
3.  Be better
–  as a team,
–  with your products,
–  better than competitors,
–  better with your customers
@lavas
Media group has stable business and growing international
Companies	within	our	group	 Presents	i.e.	
…	
.EE	
.EE	
@lavas
Sports	
Football	
Sport	
Enthusias
?cs	
Ice	
Hockey	
Entertainm
ent	
Lifestyle	
Fashion	
Wellness	and	
Ac?ve	sports	
Home	and	
gardening	
Family	
Pets	
Cars	and	
motors	
Technolo
gy	
Food	&	
restauran
ts	
Golf	
In	Finland	we	run	one	of	the	
Largest	adverKsement	network
Growth Plan
Product	
Development	
Phase	
Scaling	
@lavas
Dream	Big	
”I	believe	
we	can	
grow		
to	100	M	
company"	
@lavas
1985-2012	
	
Business:	print	magazine	
Area:	Finland	
Customers:	Locals	
Readers:	200k-450k		
Unique	visitors	on	web:		
						City	0,1	M	,	Network:	0	
Impressions:	800	000	
		
		
	
2012,	2015	->	
	
Business:	Digital	Urban	Media	and	AdverKsement	Network	
Area:	Global	
Customer:	Globally	
Readers:	360k		/	1100k	copies	
Unique	visitors	per	week:		
								City	Digital	0,5M	(weekly),	IM	Network:		3M	
	Impressions	160	000	000	
		
		
	
Grossglockner,	Austria,	EaKng	Icecream
Team
1.  Dream big!
2.  Start with the Growth Minded team, create growth minded innovaHve culture
3.  Automate everything
4.  Scale it up
5.  Never give up!
How	to	GROW?
Never give up!
@lavas
Your	own	thoughts	
About	your	ability	
Is	oqen	the	
Biggest	limiter		
Of	your	success		
Photo:	
	Robbie	Grubbs
“Whether	you	think	you	can,		
														or	you	think	you	can't			
				you're	right.”		
-	Henry	Ford	
@lavas
Ilkka	O.	Lavas	
Angel	Investor,	Serial	Entrepreneur	
	and	Growth	Entrepreneurship	Maniac	
	
Ilkka.lavas@city.fi	
	
FB,	IG,	SC:	IlkkaLavas	
	
Gsm	+358	400	997969		
	
@lavas		ßßß	Follow	now	on	Twi'er!!!	
																												(yes,	I	will	follow	you	back)	
A	ship	in	port	is	safe;	but	that	is	not	
what	ships	are	built	for.	
Don’t	be	afraid	to	grow.	Be	afraid	not	to	grow.	
“When	you	stop	growing	you	start	dying.”	―	William	S.	Burroughs,	Junky

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