Written by: Heli Mehtätalo-Takala
Early Stages
In the spring of 2017, Richard “Ricke” Lindroos reached out to Juhani, inviting him to be part of a fledgling company. At its genesis, the company comprised nothing more than a single supplier, a warehouse tucked into a garage, and a compelling idea. Despite its humble beginnings, Juhani was immediately captivated by the mission and the potential for a powerful business case. The company in question was Fiksuruoka, a firm where increasing scale goes hand in hand with increasing social and environmental good. Juhani ascended to the position of CEO of Fiksuruoka while still pursuing his studies at Aalto University’s School of Business, Industrial Engineering, and Management.
“I had no special passion for becoming an entrepreneur. It would have been a more common choice to become a top-tier consultant. However, I was very inspired by the idea, the business case, and I had a significant passion for building a great company.”
During the initial phase, Juhani served as the sole full-time employee. Although he admits that the early years were challenging, he also regards the company’s growth trajectory as nothing short of astounding. Today, Fiksuruoka boasts a turnover of €14 million in Finland and €8 million in the Netherlands, employing a vibrant team of 57 professionals.
What is Fiksuruoka?
Fiksuruoka’s mission is to eliminate food waste. They create a way for consumers to participate in reducing waste while also achieving significant savings. Customers can save nearly 50% compared to the lowest prices in Finnish stores. On the other hand, they assist suppliers in reducing waste and reaching their sustainability targets, returning capital that would otherwise be lost, and also compensating for the cost that would be incurred from waste.
“Food waste is a massive problem. Globally, a third of the human environmental impact comes from food, and a third of that food goes to waste. This basically means that 10% of human environmental impact is due to food waste. It is a vast global problem that Fiksuruoka is tackling in its own way.”
Building the Best Possible Culture and Company Together
At the heart of Juhani’s ambitions lies the conviction to construct a company that yields substantial societal impact while also offering its employees opportunities for personal growth and development. Throughout our conversation, he continually underscores the role of company culture in determining the success or failure of an organization. He firmly believes that without a purposeful culture, the creation of a high-performing team becomes exceedingly challenging.
“I’m profoundly passionate about forging a company where the values, culture, and people align perfectly,” Juhani shares.
“I feel immensely fortunate to have a company where scaling corresponds directly with impact. However, it’s of equal importance to create a nurturing environment for our employees, where they feel a sense of ownership, the capacity to learn, and the thrill of being part of a victorious team. As the CEO, my foremost responsibility is to establish the optimal culture for both our team members and the company as a whole.”
The team has developed five values that guide how they operate, make decisions, and build the best possible company together.
These values were built in the fall of 2018 when the team consisted of just six members. Juhani states that cultures and practices will inevitably form, whether you consciously shape them or not. Therefore, Juhani and the team collectively considered early on what kind of culture and company they wanted to create.
Fiksuruoka’s Values
- Reducing waste and responsibility. “This is reflected not only in our business model but in all our actions. In this context, we’re also committed to being a fair workplace and ensuring employee wellbeing.”
- Ownership. “We believe in a culture of ownership and responsibility. Mutual side trust is the key here.”
- Data-drivenness. “Data-driven decision-making and “ruthless” prioritization guide our way of working.”
- Continuous testing and learning. “As an organization, we want to collectively learn as much as possible. Also, our personal growth concept is a concrete example of this.”
- Suppliers, customers, and employees drive our business. “It’s simple as that.”
“I see that a successful culture is a key driver of success and a reason why we’ve come so far. From the beginning, we’ve put a significant focus on culture and good leadership. Today, we have an unbelievably fantastic team, which I’m truly proud of.”
Juhani’s Key Learning Points During the Journey So Far
It’s a fact that in any CEO position, you experience feelings of loneliness from time to time. At the same time, we all know how difficult it is to build a successful company from scratch. Juhani isn’t pushing his words of advice (as every company has a different situation), yet he gladly shares some of his key learning points so far.
In general, this is what Juhani believes is critical:
Attract capable, eager-to-learn individuals and cultivate a culture where people genuinely feel ownership of their work, supported by a strong emphasis on testing. Establish processes that thoroughly evaluate your company on a sufficiently large scale.
Then, there are a few other learning points (which we warmly recommend you read through if you’re in the early-stage funding process 😉)
- Working tirelessly for a year seems foolhardy in retrospect. I’d advise securing funding more promptly and enlisting the right team members sooner.
- Speed up the fundraising process and bring on the appropriate people as soon as possible.
- Build a compelling business case for investors and understand that raising money is akin to any other sales process. Raising funds takes time, so it’s crucial to find a lead investor who aligns with your vision.
- Choosing an investor is a strategic decision. It’s essential to share a common vision for your company’s future, so don’t rush this process.
- Finding a suitable investor can be challenging. A helpful tip: Whenever you meet an investor, ask for their suggestions on who else you should contact. This strategy has significantly expanded our investor network.
- From the outset, focus on building the best possible culture and values. Collaboratively envision the company you want to build and what it will take to create it.
- Look after your well-being, both for your own sake and for your team. Establish company processes that monitor employee well-being.
In conclusion, maintaining a work-life balance is vital in an organization where people are enthusiastic, take ownership, and aim to deliver for themselves and the team. It’s crucial to set and agree on boundaries.
“We firmly believe and openly declare that a company cannot be built on a culture that overlooks anyone’s wellbeing.”
We are with you 100% Juhani. Thank you for a fantastic interview!
