In a Failed Business, Until Building a Notion and Figma-focused Startup | Partly

TL;DR

Partly revolutionizes global auto parts purchasing with relentless perseverance.

Transcript

When they think of automotive or when they think of parts, they think, Oh wow, that's a niche problem. But I think having a second thought about that they realise this is an industry where everyone in their lifetime is buying parts multiple times. For us, we came extremely close to running out of money. I think at the time we thought maybe there's... Read More

Key Insights

• Partly is a New Zealand-based startup focused on simplifying the online purchase of auto parts, addressing a global market need.
• The company's rapid growth is supported by investments from notable figures like Dylan Field from Figma and Akshay from Notion.
• The founders, Levi Fewcett and Nathan, leveraged their unique backgrounds and experiences to identify market gaps and opportunities.
• The 'No. 8 wire mentality' embodies the resourcefulness and problem-solving approach that defines New Zealand's entrepreneurial spirit.
• Partly's initial venture focused on helping SMBs sell online but pivoted to a more scalable solution in the auto parts industry.
• The company faced significant financial challenges, including coming close to running out of money during the COVID-19 pandemic.
• Partly's collaboration with eBay Australia marked a pivotal moment, showcasing the value and impact of their solution on conversion rates.
• The founders emphasize the importance of perseverance, honesty about business viability, and surrounding oneself with a strong team.

Questions & Answers

Q: What is Partly's primary business focus?

Partly focuses on simplifying the online purchase of auto parts, addressing a complex and global market need. The company aims to make it easy for buyers to find the right parts for their vehicles, overcoming challenges related to the vast variety of parts and vehicle models. This focus has driven Partly's growth and success in the industry.

Q: How did the founders' backgrounds influence Partly's development?

Levi Fewcett and Nathan's backgrounds played a crucial role in Partly's development. Levi's early interest in fixing and understanding machinery, combined with Nathan's exposure to advanced e-commerce markets in China, highlighted the opportunities and gaps in New Zealand's e-commerce landscape. Their shared experiences and problem-solving mentality led them to identify and address the global auto parts market.

Q: What challenges did Partly face during its growth?

Partly faced several challenges, including financial difficulties and the overwhelming complexity of the auto parts market. During the COVID-19 pandemic, the company came close to running out of money, which was a particularly trying period. Despite these challenges, the founders remained committed to their vision, working tirelessly and leveraging strategic partnerships to overcome obstacles.

Q: How did Partly validate its business model?

Partly validated its business model through strategic partnerships and customer feedback. A significant milestone was their collaboration with eBay Australia, which demonstrated the effectiveness of their solution in improving conversion rates and buyer experience. This partnership provided concrete evidence of the value Partly's platform could offer to the market, reinforcing their business model.

Q: What is the 'No. 8 wire mentality' and how does it relate to Partly?

The 'No. 8 wire mentality' is a cultural concept in New Zealand that represents resourcefulness and the ability to solve problems with limited resources. This mentality is central to Partly's approach, as the founders and their team have consistently demonstrated ingenuity and perseverance in overcoming challenges, from initial startup conditions to scaling their business globally.

Q: What lessons have the founders learned from their entrepreneurial journey?

The founders have learned several key lessons, including the importance of perseverance and never giving up, being brutally honest about business viability, and surrounding themselves with a strong team. They emphasize the need to focus on solving real customer problems and to be willing to pivot when necessary to address more significant, global challenges.

Q: What role did strategic investments play in Partly's growth?

Strategic investments played a crucial role in Partly's growth, providing not only financial support but also valuable insights and guidance from experienced entrepreneurs like Dylan Field from Figma and Akshay from Notion. These investors helped Partly understand what exceptional looks like and contributed to the company's strategic direction and execution.

Q: What is Partly's long-term vision?

Partly's long-term vision is to create value for the auto parts industry, build a commercially successful business, and make a positive impact globally. The founders aim to simplify the purchasing process, create commercial value for stakeholders, and use their success to drive broader positive impact. They are focused on scaling their operations and expanding their presence in Europe.

Summary & Key Takeaways

• Partly is a fast-growing startup from New Zealand, aiming to simplify the global purchase of auto parts. Founded by long-time friends Levi Fewcett and Nathan, the company leverages their diverse experiences and the 'No. 8 wire mentality' to tackle global challenges. Despite financial hurdles, Partly has made significant strides in the industry.

• The company's journey began with a focus on helping SMBs but pivoted to address the more scalable auto parts market. Partly's success is driven by strategic investments and partnerships, including with eBay Australia, which validated their solution's effectiveness in improving buyer experience and conversion rates.

• Partly's founders stress the importance of perseverance, honesty, and a strong team in entrepreneurship. Their vision is to create value for the industry, build a commercially successful business, and make a positive impact globally. The company's momentum continues to grow as they expand their presence in Europe.