From Vision to Global Hiring Success: The Story of Deal and Its Founders
Company profile
Company business details
Motivation to build the product
The founders, Alex Bouaziz and Shuo Wang, were motivated to create Deal after recognizing the barriers faced by talent due to geographic location. They aimed to solve the issues that hinder the ability to hire internationally by leveraging their own experiences and frustrations with traditional hiring processes, ensuring that opportunities are not limited by one's birthplace.Problem that their product solves
Deal addresses the challenge of hiring and managing remote employees across different countries. The end users are businesses looking to hire talent internationally, especially in a post-pandemic world where remote work is common. Solving this problem is essential for these businesses to remain competitive and to access the best talent available, regardless of location.Their unfair advantage
Deal's unfair advantage lies in its comprehensive understanding of global compliance and regulations, which is a critical obstacle for many companies when hiring internationally. Their ability to streamline the hiring process and provide a reliable platform ensures that companies can hire quickly and efficiently while remaining compliant with local laws.Strategies
Idea Validation Stage
5-Day Challenge Campaign
Foundr launched a free 5-day challenge aimed at aspiring ecommerce entrepreneurs, where participants could find and validate their ecommerce ideas. This challenge was promoted through a dedicated landing page that included both the pitch for the challenge and an affiliate link for tracking sign-ups. The strategy provided real value, engaging potential customers early in their entrepreneurial journey while building a community around the brand. Participants could sign up through this link: 5-Day Challenge.
Pre-Launch (Product Development & MVP)
Summer Flash Sale
During a pre-launch stage, Gretta van Riel's team ran a Summer Flash Sale that offered a remarkable discount of $1,500, resulting in a 75% reduction on their courses. This sale not only brought attention to their educational products but also generated urgency among potential customers, driving immediate sign-ups and enrollments. Such promotions were shared on multiple channels, including Foundr's website, enhancing visibility and encouraging conversions. Details of the sale could be found here: Summer Flash Sale.
Hybrid Product Development
In the development of their core product, Deel initially leveraged local partners and agencies for building an employee management solution. However, after realizing the lack of control and the inconsistency regarding compliance from these partners, they shifted to building their own infrastructure to ensure direct oversight. This pivot allowed them to maintain high-quality service and compliance while scaling effectively.
Peer Feedback and Validation
During their time at Y Combinator in early 2019, Shuo and Alex actively engaged with 200 other startup founders from their batch. They conducted numerous interviews to gather feedback on their concept of an international payments platform. This strategy helped them validate their idea and refine their product. They paid special attention to input from their peers, leading to rapid iterations that enhanced their offering, transitioning from just payment solutions to incorporating compliance features.
Rapid Experimentation and Iteration
During the early phases of their product development, the team frequently experimented with ideas to solve user problems. Initially, they aimed to help freelancers connect with companies but realized that compliance posed a more significant challenge. By adopting an approach of rapid execution, they quickly pivoted based on feedback, discarding ineffective ideas and iterating on successful ones. This agile method of testing and refining their concept allowed for fast adaptability in a dynamic market.
Learn more about Deal
Breaking Down Barriers Led to Billions with Alex Bouaziz of Deel – Exclusive
Growing Deel to $300M+ ARR in Four Years with Co-founder and CEO Alex Bouaziz
Building Deel with Founder, Shuo Wang
