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Brain Circuits
How to scale with purpose: 5 lessons from Vinted
Milda Mitkute shares lessons from scaling second-hand clothes business Vinted into Lithuania’s first unicorn, and launching a new startup to make maths education more engaging and accessible for children.
1. Embed purpose in your model from the start
Some companies face a trade-off between purpose and profit, but sustainability was already part of our core business model, so we never had to come up with a “sustainability angle,” as many firms do. When purpose is part of how the business works, not just what it says, there will be less pressure to choose between doing well and doing good later.
2. Keep culture open as you grow
When you launch, you can make decisions among a small group. That’s not possible as you grow and more and more people join. Try to keep sharing as much information as possible so employees understand where the company is going and feel like co-owners. Being open involves risk, but even if something goes wrong, it’s better to learn the lesson and keep building culture on trust rather than control.
3. Speed beats perfection
I have two key rules: done is better than perfect, and speed beats perfection. That’s because you need real-time feedback on a product or service as soon as possible. If you wait too long to test an idea, you risk missing whether it works. Keep experimenting, especially when things are going well.
4. Be brave
Women often judge themselves and hold back because they doubt their readiness for leadership. When you see yourself as less competent, you act accordingly, and others may respond in kind. So, be brave. Don’t enter the room trying to prove you belong; assume you do. Leadership begins the moment you decide to treat yourself as an equal.
5. Keep trying to fix what others accept as normal
The motivation I had at Vinted is the same one guiding me now: fixing problems I can see. I want children to learn maths without fear or frustration. Even if the project fails, I would rather have tried to change something than watch it stay the same. The lesson for leaders is to keep trying to fix what others accept as normal.
Checklist for entrepreneurs
- Does everyone understand our purpose?
- Are we sharing as much information as possible with our people?
- Is our culture based on trust, not control?
- Are we constantly iterating?
- Am I treating myself as an equal?
- What problems can I fix that others just accept?
Authors
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