Top Lessons I have learnt from some of Australia's High Performing Companies

Ever feel like your business vision is too “out there” or that your true passions might not translate into success? Turns out, the greatest disruptors and innovators—from Canva to Thankyou Group—started from unique obsessions and an unshakeable commitment to authenticity, paving a path that challenges conventional norms. Let's explore how this mindset can fuel sustainable growth in any business.

#ShoryuWill Newsletter #26 By William Zhang

Click below to Listen to this Newsletter Edition👂

What This Edition Will Cover:

• Unpacking the misconceptions about "obsession" in business
• The delicate balance between monetary and non-monetary fulfillment
• Navigating authenticity in a world driven by consistency bias
• Curiosity as a powerful strategy for growth
• Mindset shifts and AI tools to enhance business impact
• Three book recommendations to deepen your understanding
• 1-2-3 Punch strategies for actionable business growth.

The Common Problem and Why It is Important:

For many entrepreneurs, balancing passion with profitability is a significant challenge. Often, the market pressures us to prioritise trends over authenticity, potentially leading to burnout and disengagement. This is not just a theoretical problem; according to McKinsey, 91% of young professionals expect authenticity in the brands they support, but only 40% believe companies deliver it consistently. Moreover, research from Canva shows that 96% of leaders agree creativity and authenticity are crucial for long-term success, yet many struggle to maintain it in daily operations. These findings reveal a clear disconnect—one that needs addressing if businesses are to build loyalty and sustainable success.

Proof of Concept

How Four Australian Companies Grew by Embracing Obsession, Authenticity, and Customer-Centricity

Canva: Curiosity-Driven Innovation in Design Accessibility

Melanie Perkins, Cliff Obrecht, and Cameron Adams founded Canva in 2012 to make graphic design accessible to everyone, addressing the frustrations of traditional design tools that often require significant expertise. Perkins’ vision centered around a simple yet revolutionary idea: create a platform where non-designers could drag and drop elements, making it possible for anyone to design beautifully.

Key Moves and Results: Canva launched with an intuitive interface, listening closely to user feedback to continuously expand features that made design accessible and enjoyable for millions. By 2018, Canva hit a milestone valuation of 1 billion dollars, signaling its early success. By 2023, it was valued at approximately 40 billion dollars, with annual revenue exceeding 1 billion dollars. With over 75 million active users and a global reach, Canva has successfully democratized design, growing by focusing on simplicity and usability. This approach positioned Canva as a leader in the design industry, proving how curiosity-driven innovation can create a scalable, impactful business.

• Founded: 2012 by Melanie Perkins, Cliff Obrecht, and Cameron Adams
• Key Milestones:2014: Secured initial funding of 3 million dollars from investors, including Matrix Partners.2018: Reached a 1 billion dollar valuation, achieving “unicorn” status.2021: Valuation soared to 40 billion dollars after a 200 million dollar funding round.
• Current Valuation: Approximately 40 billion dollars as of 2023.
• Growth & Sales: The company’s revenue reportedly doubled between 2020 and 2021, exceeding 1 billion dollars in annual revenue by 2022.
• Team Size: Over 3,500 employees across offices in Sydney, Manila, and Austin.
• EBITDA: Although specific EBITDA figures are not public, Canva is reportedly profitable, focusing on sustainable growth.
• Future Growth Plans: Canva is expanding its product range to include video editing, website design, and collaborative tools for workplace productivity, aiming to compete with Adobe, Microsoft, and Google in the business productivity space.

Atlassian: Authenticity in Culture and Collaboration

Atlassian, co-founded by Mike Cannon-Brookes and Scott Farquhar in 2002, prioritized building an authentic, customer-focused culture. Their “Open Company, No Bullshit” motto became a core element of Atlassian’s culture, guiding their approach to transparency and teamwork. This authentic culture was paired with a unique “no salespeople” model, letting the quality of products like Jira and Confluence drive growth without traditional sales pushes. This decision, aimed at fostering a user-centric experience, was risky but ultimately led to significant customer loyalty.

Key Moves and Results: Atlassian’s emphasis on product quality and transparent culture paid off: the company went public in 2015 with a valuation of 4.4 billion dollars and has since grown to a market cap of 57 billion dollars as of 2024. With 10,000 employees across multiple continents and annual revenue of 2.8 billion dollars, Atlassian’s commitment to authenticity and customer-first growth demonstrates the power of aligning business operations with core values.

• Founded: 2002 by Mike Cannon-Brookes and Scott Farquhar
• Key Milestones:2015: Went public on NASDAQ with a 4.4 billion dollar valuation.2020-2021: Saw rapid adoption of products like Jira and Confluence, especially during the COVID-19 pandemic, which accelerated demand for remote collaboration tools.
• Current Market Cap: Approximately 57 billion dollars as of October 2024.
• Growth & Sales: Atlassian reported 2.8 billion dollars in annual revenue for the 2023 fiscal year.
• Team Size: Over 10,000 employees, with offices in multiple countries, including Australia, the U.S., the Netherlands, and the Philippines.
• EBITDA: 700 million dollars for the 2023 fiscal year, with a focus on reinvesting for growth.
• Future Growth Plans: Atlassian is expanding its cloud-based offerings, aiming to increase cloud revenue to over 5 billion dollars by 2025. Their roadmap includes integrating AI into software solutions, which they believe will enhance automation and analytics capabilities for enterprise clients.

3. Thankyou Group: Purpose-Driven Business for Social Impact

Founded in 2008 by Daniel Flynn, Justine Flynn, and Jarryd Burns, Thankyou Group was built on a mission to eradicate global poverty by donating profits from consumer products like bottled water, body care, and food items to support charitable projects in disadvantaged communities. The company embraced a 100% profit-to-impact model, prioritizing purpose over profit in a way that resonated deeply with socially conscious consumers.

Key Moves and Results: Thankyou used transparent, community-focused campaigns to drive its impact, including the “Chapter One” pay-what-you-want book campaign, which raised 1.4 million dollars and fueled their international expansion. Over the years, they’ve raised more than 17 million dollars, all directed to life-changing projects across the globe. Thankyou’s journey highlights how aligning a business with social values can build a devoted customer base while making a substantial impact, redefining what it means to be a purpose-driven business.

Here’s a fact-driven summary of the four Australian companies—Canva, Atlassian, Thankyou Group, and Prezzee—with details on their growth, team, valuation, and future plans:

• Founded: 2008 by Daniel Flynn, Justine Flynn, and Jarryd Burns
• Key Milestones:2013: Launched food and body care ranges, broadening from bottled water.2016: Raised 1.4 million dollars through the "Chapter One" book campaign, which helped fund expansion into New Zealand.
• Current Valuation: Thankyou is a social enterprise and thus doesn't follow a traditional valuation model, as all profits are directed to impact projects rather than growth or investor returns.
• Growth & Sales: As of 2023, Thankyou has raised over 17 million dollars, directly funding water, sanitation, food, and healthcare projects globally.
• Team Size: Approximately 50 employees, with a lean structure focused on maximising donations and project impact.
• Future Growth Plans: Thankyou Group aims to expand its reach further into international markets while launching new product lines in Australia. The company plans to increase its impact by scaling its consumer base, leveraging digital marketing, and enhancing partnerships with major retailers.

4. Prezzee: Transforming Gift Cards with Innovation and Customer-Centricity

Claire Morris founded Prezzee in 2014 after identifying a common frustration: traditional gift cards were often lost, forgotten, or left unused. They set out to digitize the experience, creating a platform where users could buy, store, and redeem gift cards easily from their phones, anytime and anywhere.

Key Moves and Results: Prezzee’s digital platform enabled customers to personalise and store gift cards, a convenience that saw widespread adoption, especially during the COVID-19 pandemic, when digital solutions became essential. By 2021, Prezzee had achieved 1 billion dollars in digital gift card sales and expanded to markets in the U.S., UK, and New Zealand, gaining partnerships with top retailers globally. Valued at around 800 million dollars by late 2023, Prezzee exemplifies how solving a customer pain point with a simple, tech-driven solution can disrupt a traditional market and scale quickly.

• Founded: 2014 by Claire Morris
• Matt Hoggett: Morris’ husband and co-founder, who collaborated on the development of Prezzee, helping to build the app’s platform and features from the ground up.
• Edward Piazza: Another founding member, who serves as a non-executive director, supporting the company’s growth and strategic decisions.
• Shaun Bonett: After investing in Prezzee in 2015, Bonett became the CEO and executive chairman. He is also the founder and CEO of Precision Group, a prominent property investment company, and brought considerable business expertise and resources to support Prezzee's expansion.
• Key Milestones:2018: Secured 5 million dollars in investment, leading to product expansion and tech advancements.2021: Achieved 1 billion dollars in gift card sales and expanded into the U.S., UK, and New Zealand.
• Current Valuation: Approximately 800 million dollars as of late 2023.
• Growth & Sales: Prezzee reported nearly 1 billion dollars in digital gift card sales in 2022, with a 400% increase in transactions during the COVID-19 pandemic.
• Team Size: Approximately 150 employees, primarily based in Australia, with a few international offices to support expansion.
• EBITDA: Financials are private; however, Prezzee has been reportedly profitable since 2020, with strong margins on gift card commissions.
• Future Growth Plans: Prezzee plans to deepen its presence in the U.S. market, further invest in technology to support corporate gifting solutions, and introduce new personalization features. They are also exploring additional partnerships with major retailers and tech platforms to grow their reach globally.

Takeaway for SMB Owners: These Australian companies demonstrate how embracing a focused passion, staying authentic, and solving real user problems can lead to impressive growth. Whether it’s Canva’s user-centric design, Atlassian’s transparent culture, Thankyou’s social impact model, or Prezzee’s customer-first approach to gifting, each company found success by aligning their business strategies with core values. This shows how small businesses, too, can leverage curiosity, authenticity, and a commitment to customer needs to drive growth in meaningful ways.

Where We Went Wrong:

Many companies falter by pursuing “viral” trends rather than authentic strategies. For instance, overemphasis on rapid scaling often dilutes a company’s original values. Canva and Atlassian faced early challenges in prioritising culture over scale, yet by remaining focused on user-centricity and team authenticity, they avoided the pitfalls of over-expansion. Likewise, Thankyou Group’s initial reliance on high street retail constrained growth until they shifted towards a more community-driven, values-first model. Learning from these lessons can help SMBs avoid common traps.

Why the Problem Was Challenging to Resolve:

Building authenticity into a growth strategy takes time, consistency, and a genuine commitment to company values. Costs can escalate as maintaining alignment between brand messaging and values requires regular investment in training, culture-building, and creative tools. Moreover, factors like market competition and the “consistency bias”—the pressure to uphold previous brand statements—make it difficult to pivot without facing backlash. Atlassian, for instance, had to heavily invest in a transparent culture, understanding that inauthenticity could erode both customer and employee trust.

Why It’s Easier to Resolve Now:

Modern AI and data-driven platforms offer cost-effective ways for businesses to align with their authentic values while achieving growth. For instance, Canva leverages AI tools like Magic Design™ and image generators, allowing users to create professional-quality designs without prior design knowledge. These AI-driven tools enhance customization and streamline workflows, empowering businesses to produce high-quality content quickly and on brand. Prezzee, meanwhile, uses data insights within its digital gifting platform to optimise user engagement, offering features like reminders and personalized gifting options, which significantly improve user experience and satisfaction without diluting the company's values (sources: Canva AI Tools, HubSpot, Contentgo.ai).

The New Thing That Makes It Solvable at Low Cost but High Returns:

Digital platforms that combine engagement with purpose-driven messaging have become a game-changer, particularly for small and medium-sized businesses. Prezzee illustrates this well by offering personalized gifting options that boost user engagement at a lower cost than traditional marketing methods. Additionally, AI-powered CRM systems like HubSpot enable small businesses to manage customer interactions seamlessly, maintaining genuine relationships through automation. These tools allow small businesses to increase customer loyalty and retention at a fraction of traditional costs, providing high returns by saving both time and resources (source: HubSpot, Contentgo.ai).

What Knowledge, Experience, and Network You’re Missing (and How to Fulfill It):

1. Knowledge: Familiarize yourself with AI and CRM tools, such as HubSpot or Alfred AI, which allow for effective, personalized customer engagement. These platforms are accessible to small businesses, with HubSpot offering a free tier that includes essential CRM features like contact management and workflow automation. Investing time in training on these tools can improve customer relationship management, leading to enhanced satisfaction and loyalty.
2. Experience: Attend workshops or events that focus on values-driven brand building. The Thankyou Group's success demonstrates how community engagement can elevate a brand. In this context, joining events that focus on corporate responsibility or social impact could provide valuable insights for SMBs aiming to create a positive reputation and strong community relationships.
3. Network: Connect with other entrepreneurs focused on purpose-driven growth by joining forums or associations like the Small Business Council or relevant groups on LinkedIn. These networks allow you to share insights and strategies on maintaining authenticity while scaling your business effectively.

How to Fulfill It Step-by-Step:

1. Enroll in CRM and AI workshops to understand automation tools for customer engagement. For example, Alfred AI offers an AI-powered assistant that helps with customer inquiries and provides business insights—features that make customer management more efficient (source: Upmetrics, Contentgo.ai)
2. Join a business book club or leadership group to discuss authentic leadership, as exemplified by Atlassian’s culture of transparency. Engaging with other leaders can provide a practical perspective on integrating authenticity within business practices.
3. Conduct a “values audit” by surveying your team and clients to evaluate if your brand’s mission aligns with your operations. A values audit helps ensure your actions and messaging remain authentic, which is crucial for long-term customer trust and loyalty.

Final Words:

In business, staying authentic and purpose-driven may seem like the slower path to growth, but as proven by companies like Canva, Atlassian, Thankyou Group, and Prezzee, it’s the path that builds lasting impact. Start small—align your passion with your purpose, and let growth follow.

3 Book Recommendations:

1. “True North: Discover Your Authentic Leadership” by Bill George – A great guide for understanding values-driven leadership.
2. “The Lean Startup” by Eric Ries – An essential read on innovation and building sustainable business practices.
3. “The Infinite Game” by Simon Sinek – Learn how to focus on long-term values instead of short-term wins.

1-2-3 Punch:

1 Quote: “Honesty is a very expensive gift. Don’t expect it from cheap people.” by Warren Buffett

2 Questions:

Is my business aligned with my values?

How can I bring more curiosity into daily operations?

3 Actions:

Set a monthly authenticity check-in with your team.

Identify one area to apply curiosity-driven innovation.

Develop a simple brand story that aligns with your values.

Reminder to Subscribe:

Enjoyed this edition of #ShoryuWill? Subscribe for more insights to help simplify complex business strategies into actionable steps or simply for daily insights that will help you 10x your business growth, and get exclusive access to AI tools, leadership strategies, and market trends that you won’t find anywhere else. Don’t miss out—hit that subscribe button now!

Your friend, William Zhang

For further insights, consult sources used in crafting this edition:

1. Dara Treseder on authenticity in leadership - Atlassian
2. Creativity as a Catalyst for Business Growth - Canva
3. Leading Off: A leader's guide to being authentic - McKinsey
4. What Does Authenticity in Business Really Mean? - Matthew Pollard
5. Insights on Creativity in Business - Canva Harvard Business Review