Uri Levine has achieved something that many entrepreneurs can only dream of: building two companies valued at more than $1 billion each. His secret? Concentrating on solving everyday problems that customers face.
Levine shared his insights on what made Waze, a popular navigation app used by millions daily, and Moovit, a leading public transportation app, so successful. “The simplest way to create value is to solve a problem,” Levine said on the podcast. “When you focus on the problem, the problem will serve as the North Star of your journey. When you have one, you will make less deviation from your course and increase the likelihood of success.”
While Levine made a name for himself in the tech industry, he focused on addressing customer needs. “If I told you I’m going to build an AI crowd source-based navigation system, you’re going to say, yeah, very interesting, but you don’t really care. If I tell you I’m going to help you to avoid traffic jams, then you do care,” Levine said. “When your customers care, they want you to be successful.”
Levine’s success story is a testament to his approach. Google acquired Waze in 2013, and Intel purchased Moovit in 2020—both deals valued at more than $1 billion. Levine also ensured his team shared in that success, with more than 75% of Waze employees becoming millionaires after the acquisition.
In this episode of the Corporate Competitor Podcast, Levine discussed key lessons on achieving success, including:
- The importance of rewarding your team beyond just financial incentives throughout your company’s journey.
- How his love for basketball, cycling, and skiing influenced his business strategies.
- Why “perfect” is the biggest enemy of “good.”
Above all, Levine emphasized the need for your company to craft a compelling story that resonate with customers when fundraising.
“When you begin crafting a story, you often focus on what you do, but that’s not what the listener is interested in. What they really want to know is how it benefits or relates to them,” he shared. “Engagement happens when I make you smile and reflect on your own experiences. That’s the moment I’ve captured your attention.”
Resources:
- Order Uri’s Book Fall in Love with the Problem, Not the Solution
- Watch Uri’s Cookbook for Entrepreneurs
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