
COO Interview
GEORGIOS NTERVAKOS
Created on September 6, 2024
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Transcript
Did leadership transitions at Kaizen cause operational misalignment?
EXAMPLEFor example, William Hill underwent multiple leadership transitions between 2019 and 2021, leading to conflicting strategic goals and operational confusion. This misalignment caused delays in key projects and resulted in a 10% decline in market share.
Has Kaizen experienced similar challenges with leadership changes, and how did the company realign its teams?
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Definitely, yes, and it's related not only to leadership transitions but also to organizational restructures that often happen to support the growing population.Many new functions, leaders joining with or without industry experience, organic promotions for people not ready for increased responsibilities, conflicting priorities on the department/divisional level.
Can you explain a time when a key hire didn’t meet expectations at Kaizen?
EXAMPLEFor example, BetMGM recruited a high-profile marketing executive from the consumer goods industry in 2021, but the lack of industry knowledge resulted in campaigns that didn’t resonate with bettors, driving up costs by 25% with little return. The mismatch between leadership skills and industry demands led to the executive's departure within a year.
Has Kaizen faced a similar issue, and what were the impacts on strategy and operations?
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It has happened several times, and in some cases, it has had a critical impact on our business. The main factors contributing to this are lack of industry experience, cultural differences, and difficulty in adapting to the rapidly scaling startup operating model. I believe these issues are unavoidable. What concerns me the most is that when we identify these cases, we fail to correct them on time. This is mainly due to the lack of seniority of their managers.
Have there been cases where Kaizen was slow to address critical issues?
EXAMPLEFor example, 888 Holdings faced mounting concerns over responsible gambling policies and customer protection practices in 2022, which the company didn’t address promptly. This led to a £7.8 million fine by the UK Gambling Commission and a hit to their reputation.
Has Kaizen been in a similar situation where a delay in addressing issues led to bigger consequences, and why?
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Unfortunately, yes, but so far, we have only faced minor consequences. Our focus is to start working on corporate risk and fix areas we have been lagging for years.
How has Kaizen balanced rapid growth with operational excellence?
EXAMPLEFlutter Entertainment was able to grow rapidly across multiple markets while maintaining strong compliance practices by investing heavily in responsible gambling initiatives. This approach allowed them to keep regulators satisfied while scaling quickly.
Can you provide an example where Kaizen struggled to balance growth and operational quality, and how was it resolved?
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Unfortunately, we have faced and continue to face issues in this area in many cases. A few critical functions have not managed to scale to support growth, have been left behind, and have been isolated from the rest of the company. The front line has managed to scale while finding workarounds that work operationally but are of low quality. We are now pushing. Our plan is to improve on corporate governance significantly during 2025 and catch up by 2026.
Has Kaizen ever lost focus on its core strengths by pursuing too many opportunities?
EXAMPLEFor example, Kindred Group ventured into too many verticals (live casinos, lotteries, and sports betting) by 2019, which diluted their focus on online poker, their core business. This led to a 5% decline in market share in the poker segment within a year.
Has Kaizen ever over-diversified to the point where it weakened its core offerings, and how did you realign?
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We have faced situations where we had to compromise on customer experience in order to accommodate our expansion plan. Over the past two years, we have made significant investments in scaling our teams to handle both critical strategic pillars. The results are already apparent, but there is still significant ground to cover in order to address our remaining challenges.
Did Kaizen ever jump into a project without adequate testing?
EXAMPLEFor example, Entain made a rushed move into the Brazilian market in 2021 without conducting thorough market research. They encountered unexpected regulatory barriers and local customer preferences that did not align with their traditional offerings, leading to underperformance and eventual withdrawal from the market.
Has Kaizen undertaken a similar project that lacked proper testing, and what was the outcome?
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It's common in this industry that you can't test before launching a new market. Our approach is to initially spend a period understanding the market (soft launch) before starting full marketing operations. While it's not completely risk-free, it has been proven to be successful.
Has Kaizen grown faster than its operational capacity?
EXAMPLEFor example, FanDuel expanded rapidly across the U.S. following the 2018 Supreme Court ruling on sports betting. However, by 2020, they were struggling with customer service complaints, which increased by 20% due to inadequate scaling of support teams to meet new demands, leading to a decline in customer satisfaction ratings.
Has Kaizen experienced similar growth issues, and how was this challenge managed?
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Over the past three years, we have developed a scalable operational structure by outsourcing some of our operations to BPOs. This move has helped us overcome significant challenges, especially during major tournaments and the COVID quarantine period, when retail customers rapidly transitioned to online platforms.
Did Kaizen ever focus too much on short-term wins at the expense of long-term growth?
EXAMPLEFor example, William Hill ran aggressive promotions during the 2022 FIFA World Cup to attract new users, including heavy bonuses and free bets. However, the lack of focus on retaining these customers after the event resulted in a sharp 15% drop in recurring user activity, showing that short-term gains didn’t translate to sustained growth.
Has Kaizen faced a similar scenario, and what were the results?
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Has Kaizen ever been caught unprepared by major challenges?
EXAMPLEFor example, DraftKings faced significant legal challenges in Massachusetts in 2022 due to misaligned advertising strategies, where promotional language was deemed to violate local regulations. The company had to make quick adjustments to avoid fines, but the issue disrupted their marketing campaigns and damaged trust with regulators.
What caused a similar lack of preparedness at Kaizen?
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I don't think so, but this is not because we are great at planning and analyzing our risks. It has to do with our ability to effectively respond when things go wrong.
Has Kaizen focused on short-term leadership solutions over long-term talent development?
EXAMPLEFanDuel quickly brought in external executives to manage their expansion after the legalization of U.S. sports betting in 2018. However, after these hires left in 2020, the company found itself with gaps in leadership and delayed project rollouts, as they had not developed internal talent to fill those roles.
How has Kaizen managed the balance between quick fixes and building long-term leadership capabilities?
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Has Kaizen’s expansion stretched its core strengths too thin?
EXAMPLEFor example, Betsson aggressively expanded into new European markets in 2022, but in doing so, neglected their traditionally strong presence in Scandinavia. This led to a 12% market share decline in Sweden as they lost focus on their core customer base.
Has Kaizen encountered a similar challenge where expanding into new areas compromised the company’s core operations?
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Can you share an example of Kaizen turning a lucky break into long-term success?
EXAMPLEFor example, Bet365 was quick to recognize the rise of mobile betting in the early 2010s, investing heavily in mobile technology. This foresight paid off, with mobile betting now accounting for more than 60% of their total revenue.
Has Kaizen ever capitalized on a similar unexpected opportunity, and how was it turned into sustained growth?
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Our expansion into Brazil was partly due to luck and partly a strategic decision. What matters most to me is that when we realized that Brazil is a great market for Kaizen, we were able to establish a highly successful operation there. Looking back, this is probably our most important achievement.