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EdTech Initial Public Offering…
By 2012, 3P Learning had developed a suite of world leading resources for the education market, with good traction throughout the world and operations in all major English speaking countries. The CEO and leadership team were seeking a strategy execution model and mentor to support their rapid growth. In particular, they were seeking a model which suited a product-led organisation with 21st century organisational design.
The leadership team were grappling with the complications of having its headquarters and product team based in Sydney, supporting operational teams around the world and in different time zones. The complications of the competing priorities of different markets, with the associated technology, product and marketing requirements, led to some dysfunctional behaviour between the operational teams, who were more focused on firefighting issues, with silos of thinking and strategy. This led to an ever growing backlog of work.
Using the InflectionPoint approach was a game changer. First the global leadership team came together every quarter, to set strategy, with a small number of strategic priorities. This was then shared with each of the operational teams, who helped to further develop (and in some cases adjust) the strategy. Then, in each quarter, the whole global team would execute on the agreed priorities, tracking the progress in an open and powerful way. This brought focus to goals, alignment to all teams, and from these two qualities, developed a deeper layer of trust, and a dissipation of conflict.
The agile methodology of InflectionPoint, helped align product management with the needs of the go-to-market teams, to yield an ever improving strategy and accelerating revenue growth. In July 2014, the company listed on the Australian Stock Exchange (ASX), with a market capitalisation over $300m, which at the time, made it the second largest technology IPO on the ASX. And, in the 18 months after IPO, the company continued with the InflectionPoint approach, yielding stellar revenue growth, and outperforming its financial forecasts by a significant margin.