How do you build an amazing product from scratch? How do you invite diversity and inclusion when building your team?
Kelly McDonald is the Co-Founder and Chief Product Officer of Cipio. The world's first community influencer marketing platform. Prior to joining Cipio Kelly was the founder and CEO of Kyndoo. A data platform for social commerce that was acquired by Cipio in September of 2021. Prior to founding Kyndoo, Kelly was the Senior Vice President of Revenue, Operations, and People at RealtyShares. An entrepreneur at heart, Kelly loves working on big problems at the earliest stages of a company. She is driven by her passion for the people she leads, and the journey toward the greater vision they share.
Today we are going to talk about:
Building Products from scratch,
The importance of talking to customers before you build, and
Building diverse teams[1.30] Building Kyndoo from scratch and building the strong client relationship with Cipio
[12.35] Her start in product management
[17.23] Being a solo not tech female founder and getting the funding from VCs
[22.00] asking for help from your investors
[23.20] Equalising the gender split in the teams and diversity of teams
[32.30] 3 pieces of advice from Kelly
Strengthening your product proposition to your customers though acquisition of the company
Kelly shares how the internal data science team in Cipio enabled Kyndoo as a product to go the extra mile and strengthen the presence in the market. Since the merger they saw an NPS jump 20%. New tools built in Cipio since the merger are focused on AI an ML utilisation for enhancing the real reach of the audience with image to image search. Since the introduction they saw the usability shot up and user reaction in 90% of cases was purely “wow”.
Currently the team is looking at enabling brands to build the communities with web3, something they are testing right now.
Lessons from raising from VCs
Kelly shares that having the experience and the past “portfolio to show” instilled more trust in her ability to lead and start the product from scratch when speakign with investors. In her experience investors are looking at strong execution and she was able to showcase that.
Kelly outlined that it took her longer to raise and found the right investment partner, and she admits that it might be a longer journey for the underrepresented founders but those investors who stick through the journey are undeniably the right partners that will bring a great value to the startup, the “capital with capability”.
She also notes that founders need to learn to ask for help and support from investors proactively in order to receive support.
Building diverse teams and reducing bias
Diversity starts at the top - if diversity and inclusiveness is not taken seriously at sourcing level, we wont get anywhere. Reflecting on the AI tool out there - AI does what it was told to do - its still built by humans who have bias. Diverse experiences allows you to see uniques insights and knowledge which brings a ton of value. If in doubt and when able to do a side by side comparison, Kelly follows the thinking of - if all things are equal, choose diversity.
Connect with Kelly McDonald on Linkedin
People and Resources Mentioned:
https://www.instagram.com/cipiocommunity/
Connect with Alexandra for