How the 6PM Model Transformed Kinetic Marketplace
The Background Story of Kinetic Marketplace
Kinetic Marketplace, a US-based platform, set out to revolutionize the wholesale buying and selling industry by addressing major issues like fraud and contract management. Their innovative platform aimed to make B2B transactions safe and seamless, ensuring secure and verified transactions for buyers and sellers. The founders recognized that existing platforms often lacked the necessary security measures and efficient contract management, leading to mistrust and inefficiencies.
- simplify tracking expenses
- managing appointments
The Challenge
- Non-Tech Founder: Without a proper understanding of technology, the founder found it challenging to build a robust tech strategy, assemble an efficient tech team, and secure tech leadership.
- Tech Co-Founder Dilemma: Efforts to find a tech co-founder were unfruitful, with potential candidates demanding exorbitant equity stakes (up to 50%).
- Agency Confusion: Seeking help from various local and offshore agencies led to further confusion and wasted resources, consuming valuable time (around six months).
- Navigating Government Regulations: Ensuring compliance with government regulations was a major concern, requiring strategies to either comply with or bypass regulatory requirements to ensure the platform's functionality and legality.
The Journey of Kinetic Marketplace with 6PM
- Plan
- Scale
- Execute
Plan: Forming the Right Technology Stack & Strategy
6PM began by providing a comprehensive planning phase, crucial for laying a strong foundation for Kinetic Marketplace’s technological needs
Kinetic Marketplace
A Cofounder CTO for Kinetic Marketplace without Sacrificing Equity
Building a Scalable Tech Stack
Execute: Building & Leading a High-Velocity Remote Team
With a solid plan in place, 6PM moved to the execution phase, focusing on building and leading a high-performing remote team
Hire High-Performing Developers
Selected technologies that align with Kinetic Marketplace’s goals and requirements.
Assembled a team of skilled developers and designers proficient in the required technology stack.
Recruited a high-performing team consisted of 1 backend developer, 2 frontend developers, 1 designer, and 1 tester.
Focused on ensuring the team’s skills matched Kinetic Marketplace’s technological needs and project goals.
Plan the Product Roadmap & Timeline
The CTO, supported by Product Managers, led the engineering process using Agile methodology, focusing on integration related to planning, user account management, and data security.
Developed a detailed eight-month timeline for development and deployment, ensuring structured progress and timely delivery of key milestones
Scale: Ensuring ROI on Technology Investments
Performance Tracking & Budget Management
- Developed 25+ KPIs (usability, load time, bug-free features).
- Achieved 20% usability improvement, 30% load time reduction, and 25% bug reduction.
- Monitored IT budget meticulously.
- Reduced server costs by 20%, SMS costs by 15%, saving 15% on projected tech costs.
Continuous Improvement & Opportunity Identification
- Collaborated with stakeholders in weekly meetings to identify new tech opportunities.
- Conducted sprint reviews for feedback, enhancing product functionality and user experience.
The Results
The Launch in 8 Months
Savings Over $75K USD
Successful Client Engagement and Investor Confidence
Regulatory Success
Successfully navigated and complied with government regulations, ensuring the platform’s functionality and legality without compromising on user experience. This was crucial in maintaining operational integrity and gaining user trust.