In the latest episode of the Culture Sand podcast, “Trust and product at the core of leadership”, we had the great pleasure of speaking with Mikko Teerenhovi — CEO of Xolo, the fast-expanding, pan-European business admin platform purpose-built for solopreneurs.
Discussion points
With Mikko, we explored what it takes to lead a fast-scaling, product-first company in today’s complex landscape — and what kind of leadership mindset actually works.
As the business environment shifts rapidly, the leadership models and operating principles of fast-growing companies are becoming increasingly relevant — even for more traditional organisations.
We focused on three defining principles shaping Mikko’s approach:
Trust as the foundation — Full ownership is given from day one. Leading with trust, not control, empowers people to rise to the responsibility — supported by interest, questions, and care.Product as the centre of gravity — Sustainable growth starts with product–market fit: solving the right problem in a way customers truly value — and building from there.Narratives over numbers — Leadership through stories and assumptions that guide focus and action. Direction comes first — numbers follow.Together, these principles reveal a modern blueprint for scaling with focus, conviction, and humanity — even across borders, cultures, and uncertainty.
Early experiences that shaped Mikko’s entrepreneurial mindset
Grew up around technology — his father brought home one of the first Apple Macs in the 1980s.Started out in graphic design — and founded his first company at 21.Studied architecture — which sharpened his systems thinking and spatial reasoning.Founded a creative urbanism consultancy — focused on solving real-world friction, like reducing urban littering.Developed a way of working that blends curiosity, technology, and global perspective.Moved into fintech — founding a banking startup straight after graduation.Xolo in brief
Business admin platform purpose-built for solopreneursOperates in a fragmented market — mostly local, single-country providersThe only player offering cross-border services at scaleActive in four European countries, with plans to double footprintPreviously VC-funded — now VC-free and profitableFirst moves as CEO
1. Rebuilt the management team
Replaced “big logo” hires with people who had something to provePromoted from within — product and customer understanding mattered more than pedigreeChose leaders with the drive to endure discomfort — “it’s going to hurt a little bit”2. Shifted to sustainable, product-led growth
They were “burning cash — quite a lot” on digital marketingStopped all paid acquisition in week one —stopped relying on Meta and GoogleReframed every conversation around the productFocused on how it acquires, retains, and serves customers — in the best possible way3. Leading the team and engaging board through quarterly assumptions
Leads with quarterly narratives — each built on clear assumptionsAssumptions guide focus — they either prove right or don’tFailure is part of the process: “If it fails, scrap it. It’s learning.”Narratives align both team and Board — and remove fear by creating directionCore belief: “The numbers follow when you have a direction and a story that guide shared action”The way to get it right, or learn
1. Assumptions clarify what matters
One early assumption: they didn’t know their best-fit customers well enough
Mikko focused on identifying the “true fans” — people who truly needed the product
They turned these users into affiliates — who now drive most customer growth through referrals
2. Not every assumption leads to growth — but many still add value
One early bet: solopreneurs might benefit from being connected to each otherIt didn’t lead to monetisation — but they kept the featureWhy? Because it still supports users and strengthens the overall servicePeople staying by choice
Mikko believes people should want to be at XoloEngineers were encouraged to explore the market — to see if Xolo was truly right for themThe same approach now applies across the companyTeam members often share openly when interviewing elsewhere — and most stay, more committedThis openness builds trust and deeper connectionsLeading a globally scattered team
1. Start with full trust
Mikko’s default is 100% trust — if someone owns an area, they’re trusted to run itTrust is visible in daily interactions and actions — and motivates people to take ownership“Once you are given your own ownership area, you basically are responsible to yourself mostly after that.”2. Communicate clearly — in different formats
Believes format variety matters: “People consume content differently”Shares monthly written updates to explain what mattersUses all-hands for alignment and energyIncludes face-to-face: one 2-day team offsite each year to connect in person3. Navigate cultural differences — with shared humanity and curiosity
Cultural differences exist — but underneath, we’re all humans with shared hopes and fearsCulture is “built on top” of that — it’s something to recognise and respectMikko is deeply curious about how people think and workOften asks questions about people’s backgrounds, ways of doing things, and perspectives“I think that’s probably the key thing — just showing that you’re interested in them.”People-centric leadership — strengths and challenges
1. Summary of Mikko’s leadership style
Built on full trust — “trust to be trusted”Leads with narratives — prefers questions over answersBelieves in testing assumptions — “let’s find out if it’s true”Direction and story come first — “from narrative to numbers”2. The challenges that come with it
A distant, numbers-driven style would be easier — but not for himSuccess is when someone acts without asking — and it worksThe hard part: when full trust doesn’t lead to good outcomesIt’s especially difficult when the wrong person is in the roleWhen that happens, Mikko uses “the mirror” — to look back and ask how they got thereOften, in hindsight, the signs were there — but it becomes learning, not failureViews on experience
Experience doesn’t guarantee success — “You can repeat what worked before and still fail”He values first-principles thinking over past playbooksExperience is helpful for spotting patterns — but doesn’t solve problemsHis approach: “Start fresh every time” — no assumptions carried overBelieves this mindset is his biggest personal edgeThe future of Xolo — and the solo economy
1. Xolo’s ambition
Mikko’s vision: make Xolo the global category leader for solopreneursSees a huge gap: most competitors are local, limited in scopeFragmented market = opportunity to build something truly scalable2. Built to scale across borders
Already active in Spain, Italy, Estonia, and the NetherlandsExpansion plans: double country footprint within a yearNow VC-free and profitable — open to strategic funding if it fits the mission3. A bet on the solopreneur wave
Mikko sees solo work as a structural shiftOf the world’s 1billion knowledge workers, 80% want to work soloXolo’s role: remove friction — automate admin so people can focus on real workBelieves borderless, autonomous work is the futureMikko’s source of optimism
1. A vision of work without borders
His optimism goes back to the early days of the European Union — a symbol of openness and shared opportunitySees Xolo as a “Solopreneur Union” — enabling people to work across borders, freely and seamlessly2. Fit beats location
Some of Xolo’s most committed team members come from far away — drawn not by geography, but by the missionBelieves the real match is between product and customer, and mission and employee values3. Connecting like-minded people
Mikko believes people naturally want to work and connect across bordersHis job: find those who believe in the mission — as customers and teammates — and create an environment where they can thriveMikko, thank you for joining us and sharing such valuable insights on modern leadership. I truly enjoyed the conversation!
About the author
ADVISOR, STRATEGY AND CULTURE
Tintti Sarola
Tintti Sarola is a strategist, transformation lead, and culture expert who believes the journey defines the outcome. With a background as a national team-level dressage rider and a track record of podium finishes up to the European Championship level, she brings the same intensity, focus, and commitment to business as she once brought to elite sport.
Her career spans law, tech, strategy, and transformation – from her early days in contract law and IPR to leading digital transformation, business development, and culture-powered change initiatives. Tintti has helped build successful start-ups, scale family-run businesses, and reshape how established organisations think, behave, and operate.
She specialises in helping leadership teams rewire how they work – aligning strategy with behaviour, shifting entrenched patterns, and building the human systems that make change stick. Sharp on strategy and fluent in human dynamics, Tintti is known for cutting through noise, connecting the dots, and helping companies move – fast and together.
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