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Date
22 February 2024
Author
Lila Haesebrouck
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As part of our Masterclasses in Managerial Excellence, we had the honor of welcoming Thibault Renouf, an entrepreneur at the helm of Partoo, a tech company that now supports 350,000 points of sale in 150 countries. This visionary leader shared with us the strategies that allowed him to achieve hypergrowth and implement decisive performance levers to elevate Partoo to the rank of a global player. His advice offers valuable insights for any entrepreneur wishing to grow their company internationally. Ready to discover the secrets of hypergrowth?
The Inspiring Journey of Thibault Renouf
A graduate of HEC Paris, Thibault Renouf began his career in mergers and acquisitions at Rothschild, before joining the Boston Consulting Group (BCG) as a senior consultant. In 2017, he joined Partoo, then a startup of ten people, as CFO. Immediately recognizing the potential of this company specializing in local digital marketing, he took over as CEO in 2019, leading Partoo to rapid international expansion, particularly in Latin America and the Middle East.
Structuring Growth: A Proven Method
During this Masterclass, Thibault Renouf revealed the keys to Partoo’s hypergrowth, emphasizing the importance of an agile and resilient organization. “One of the first challenges was to overhaul our technology to allow for better scalability,” he explains. Partoo was thus able to address the limitations of its initial infrastructure by progressively reorganizing its technological structure while remaining true to its customer value promise.
Renouf also emphasizes the importance of solving problems in an agile manner while constantly improving efficiency. “We first solved problems manually to provide value, then we automated these processes to support our expansion,” he specifies.
Investing in Talent: A Key Lever for Hypergrowth
At the heart of Partoo’s growth strategy is the development of internal talent. The company has implemented a program for upskilling managers, with regular feedback and the implementation of HR Business Partners to structure the human resources approach. According to Renouf, investing in employees is as important as investing in technology: “It is essential to ensure that our teams evolve at the same pace as the company.”
Thibault Renouf has also introduced the philosophy of “positive intent”, which encourages employees to assume that their colleagues’ actions are motivated by positive intentions, thus helping to defuse tensions and foster a constructive corporate culture.
OKRs and Sales Methods: The Recipe for Effective Management
A highlight of this session was the spotlight on the OKR (Objectives and Key Results) methodology, which structures performance management at Partoo. “Each team and individual has clear objectives, associated with measurable key results,” explains Renouf. This method, popularized by Google, allows Partoo to stay focused on its priorities while motivating its teams to achieve ambitious goals.
On the sales side, Renouf shares a two-step strategy: start with small contracts to prove the value of the solution, then expand these partnerships to increase the revenue generated by each client. “This allows us to demonstrate our added value before signing more substantial contracts,” he illustrates.
Motivating Through Symbolic Recognition
Another performance lever lies in the compensation of sales teams. Renouf asserts that, contrary to what one might think, “money is not always the main driver.” Symbolic rewards, such as podiums or distinctions, often have a greater impact on team motivation than financial bonuses alone. By aligning compensation with long-term objectives, Partoo promotes a shared vision of success.
In a nutshell…
Through this Masterclass, Thibault Renouf managed to captivate the audience with concrete advice and proven strategies to support rapid and sustainable growth. His leadership, combining a clear vision and highlighting talents, demonstrates that people remain at the heart of any entrepreneurial success. As he reminds us, “people do not remember what you said, but how you made them feel”.
Don’t miss the next Masterclass!
Tags
Date
22 February 2024
Author
Lila Haesebrouck