Fredd
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How did you end up as a CEO? What was your route to this position?
I have been working in B2B for a long time. I have always been tech-addicted and passionate about building great products that solve the “pains” of entrepreneurs and their employees.
I started as a web analyst implementing analytics systems for clients’ websites and mobile apps. Then, for several years, I worked in different startups as a Product Manager, Head of Product, and Head of Marketing. In 2021, I became a Co-Founder & board member at Storypoint, a Ukrainian agency specializing in direct recruitment and outstaffing of tech & non-tech specialists.
Why are you the right person to be the CEO of your company?
I love growing and scaling startups, with the belief that small teams of engineers and product managers can build and launch amazing products. So, in 2022, I finally decided to create Spendbase, an all-in-one spend management platform, a powerful tool designed to help businesses manage their software-related expenses more effectively. As CEO, I am proud of us because we have achieved noticeable success in just 2 years. We participated at Unique Summit in Ostrava and Web Summit 2023, launched on Product Hunt, won the Startup Glovo Competition, got first place in the startup pitching competition at Kyiv Tech Hub 2023 in Warsaw, and many more. The current economic situation, when companies are forced to cut costs, helped us quickly find a product-market fit. In the last year alone, our team has grown x3 and now includes fantastic specialists worldwide.
What gets you up in the morning?
Founding a company like Spendbase was driven by a desire to solve specific problems in procurement and spend management. My passion for this line of business motivates me to innovate and enhance our services constantly. As the CEO, my ability to establish and nurture relationships with investors, customers, and partners is crucial. Networking plays a vital role in discovering new opportunities and fostering collaborations. In my role, I am also responsible for ensuring that our product not only meets but exceeds customer expectations. This is important to maintain customer satisfaction and loyalty.
Who helped you get to where you are today?
In my previous roles, the managers I worked with played a crucial role in shaping my leadership style and business acumen. They taught me the value of clear communication, setting achievable goals, and the art of effective delegation. Their diverse management styles exposed me to various problem-solving techniques and team dynamics, which I now incorporate into my own company. The connections I have made in the industry have opened doors to new opportunities and partnerships. Networking has expanded my professional horizons and provided a platform for knowledge exchange and collaboration. The team working alongside me helped us achieve today’s result.
What is the best or worst business advice you have received and from whom?
“Build a Great Team, Not Just a Great Product”. I received this advice from one of my closest friends and colleagues, who also happens to be the founder of another digital company. As I embarked on my startup journey, I gradually understood the significance of his guidance. Therefore, when it comes to hiring new team members, it is crucial to me that they align with the passionate work culture at Spendbase.
If you could go back in time to when you were a teenager, what life advice would you give yourself?
Don’t be afraid to stand out or be different. The things that make you unique are often your greatest strengths. Embrace your individuality and use it to your advantage. I realized this during various startup competitions when I pitched Spendbase at international digital events.
What are the most important values you demonstrate as a leader?
I empower team members to take initiative and make decisions. Employees have the opportunity to showcase their skills and expertise. This not only boosts their confidence but also encourages them to take ownership of their work. Trusting in the team’s capabilities fosters a collaborative and empowered environment where everyone feels valued and motivated to contribute their best. That is my goal.
How can a leader fail?
Leaders can neglect to establish a distinct vision or direction for their team or organization. Then, it will lead to confusion. The absence of a clear objective makes it difficult for the team to maintain motivation or comprehend their role within the broader context. Besides, leaders who ignore feedback from their team, peers, or mentors miss valuable opportunities for growth and improvement. Constructive criticism plays a crucial role in personal and professional development.
What does the next five years hold for you?
Over the next five years, the vision is to establish the company as the world’s number one SaaS subscription management tool. This ambitious goal involves not only expanding our customer base x3 times but also continuously innovating and enhancing our product to meet the evolving needs of businesses in managing their software subscriptions efficiently, as well as launching a new feature that will expand the potential market.
Mentorship is a big business in the west, do you have any experience with it?
I try to be a mentor for each member of our team, sharing my experience and knowledge. I always love to help anyone who needs my advice, and even if I was engaged in mentoring, it would only be for charitable purposes or donations.
If people want to reach out to your or your business, what is the best way for them to go about doing that?
If you want to reduce and manage your software expenses, streamline your budget, enhance productivity, and gain financial clarity, our experts offer a free audit of your business. Be notified about potential overspending on your software! Simply fill out the form on our website to get started.
