Business in:Brief with Domm Holland (Fast)
CEO and co-founder of Fast – 2019-present
Domm Holland is the CEO and co-founder of global one-click ecommerce checkout platform, Fast. Fast was created as a solution to laborious ecommerce checkout processes that waste time for consumers and cause sales losses for merchants.
Fast's one-click login and checkout experience is an easy way for customers to buy online from their favourite online stores instantly. It's a potentially handy solution for people who don't want to leave their screen while online shopping to dig out their credit card, or those who are tired of remembering multiple passwords.
Domm tells us more about his company, his move to the States and who he admires most in business. Find out more below.
What was your first job?
My first job was flipping burgers at McDonalds. I started at age 14 – as soon as I was legally allowed to work. I wanted to be independent as early as possible and this was a fantastic first step.
What's your proudest achievement?
It's not my achievement as such, but I'd say the family my wife and I have made is our proudest achievement. Nothing will ever top the pride I feel for having my children in my life. Our kids teach us just as much as we teach them.
Bringing our family to the US from Australia was a key moment in my life and one that I always look back on fondly. I don't know where I'd be today if I hadn't made that move, so I'm always proud that I chose to move to San Francisco.
What's something that you have learned in business that took you by surprise?
That no door is un-openable and you can reach just about anyone if you work hard enough. My first proper job out of school was as a door-to-door salesman, and that taught me to literally see every door as one that can be opened and present new opportunities. That perspective has helped me infinitely in my career, with everything from business sales to reaching out to people I've never met before on Twitter and over email. I've closed lots of deals from realising that you can cut through and reach anyone in the world through Twitter or email.
How do you plan on growing your business in the near future?
Firstly, we're looking to rapidly expand our team. We've just onboarded four new team members, or Fastronauts as we call them. We're aiming for 80 staff members globally by the end of the year, which is significant considering we were a company of 2 people in November 2019.
Secondly, we're accelerating the global rollout of Fast Checkout, which is our universal one-click purchase product for ecommerce.
Earlier this year we secured US$20 million in our series A funding round led by Stripe, which will significantly help us to achieve the growth we're looking for. Ultimately our goal is to be transacting US$1 billion annually in gross sales by the end of 2020.
What other business leader do you most admire and why?
Definitely Jeff Bezos. He's an exceptional business leader. Amazon seems to be the one company that every business worries about. He commands fear from every industry, even those you wouldn't think would be concerned with Amazon, purely just on the basis of whether Amazon will ever enter their sector. I think that a lot of Amazon's success is led by him at the top.
What's the best piece of business advice you've ever received?
Before you make a decision, imagine how it would look on the front page of The Daily Telegraph.
This advice was given to me from the former managing director of Dell Australia while I was working there and it's always stuck. I think it's great to apply to both your personal and professional life.
What advice would you pass on to someone starting out in your area?
Build swiftly, not hastily, and replace yourself as quickly as you can.
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