What makes or breaks a B2B business—insights from Carl DeGiorgio, CEO of KYZEN

Garance Limouzy October 10, 2024

Share it :

What makes or breaks a B2B business—insights from Carl DeGiorgio, CEO of KYZEN

As KYZEN marks its first anniversary, CEO and co-founder Carl DeGiorgio reflects on the challenges, successes, and guiding principles that have defined both his career and the company’s rapid growth in delivering next-gen solutions for the gambling industry. In this in-depth interview with SiGMA News, Carl delves into his career journey, KYZEN’s growth, and the future of the iGaming industry.

Building a career from the ground up

When asked about the key moments that shaped his career, Carl is clear that it all started with hard work from the very beginning. “My journey commenced about 20 years back. I started at the very bottom and made my way up. No corners cut,” he explained. “Although painful at the time, retrospectively grateful because there are no shortcuts to success, and it enables me to understand the most granular details and better relate to the entire workforce from the ground up.”

“I used to equip myself with all the necessary skills, waiting for the opportunity. Once the opportunity presented itself, I used to snatch it. Not the other way around.”
– Carl DeGiorgio

Carl’s passion for operations has been a defining trait: “I just find it fascinating how so many moving particles need to move in synchronisation to ensure harmony, similar to the anatomy of a watch, otherwise the engine malfunctions,” he shared.

When asked about it, Carl attributes his advancement in the gaming industry to two key qualities: perseverance and preparation. “What has allowed me to advance in my career within this industry is perseverance and an obsession towards continuous improvement.” He also reflects on his mindset when achieving new milestones. “Whenever I got promoted to a new role, I clearly remember people asking me why I did not look more thrilled, and the answer is simple. I played that moment in my mind countless times before it happened.”

Work and life, not a balance, but a blend

Carl’s approach to work-life balance is refreshingly different. “I despise the term work-life balance because work and life are not enemies,” he stated. For him, work is an integral part of life, and “in the same manner, love, sports, and other things are part of life.”

“The term work tends to have a negative connotation”, he explained, “yet for me, work gives me purpose and satisfaction, and despite adversities, I enjoy it as much as any other activity I perform.”

“Workplace culture is how your gut feels on a Sunday evening”
– Carl DeGiorgio

This philosophy extends to how Carl views workplace culture overall. “Culture is how your gut feels on a Sunday evening,” he explained. His aim at KYZEN is to ensure that “every single member of our workforce enjoys Mondays as much as they do Sundays.”

When asked what keeps him motivated, Carl shared, “From a very young age, I always had this fire burning in me to become better today than I was yesterday. Not sure where that fire ignites from, but it allows me to be self-motivated which is a priceless trait in life. When the flame of motivation occasionally starts to dim, discipline takes over until motivation kicks back in. They wear the same shirt.”

KYZEN’s first year, success through focus

KYZEN, which takes its name from the Japanese philosophy “Kaizen,” meaning continuous improvement, celebrated its first anniversary recently. The agency, which provides specialised services like Risk, Fraud, Payments, Payment Solution Management, and Customer Services, has been a success from the outset, something Carl attributes to clear goals and careful financial management. “The goal was clear. Break-even, which we achieved a few months in. Once you break even, you stop bleeding money which is one of the most common reasons start-ups fail.”

“Many entrepreneurs that fail have this image in their mind of what they think a business should look like, which unfortunately means that they will be blowing cash on superficial stuff.”
– Carl DeGiorgio

“At times, the first year felt remarkably smooth,” Carl recounted. “So much so that we began to feel paranoid, wondering if we were missing something important.” However, this smooth sailing was no mere coincidence: “The founders had collaborated in similar roles for years, creating an almost ‘plug and play’ situation,” Carl explained. “Looking ahead, I believe the second year will present greater challenges as we embark on our journey to scale sustainably.”

This blend of experiences helped KYZEN avoid common startup pitfalls. “Knowing what to do and equally, what not to do,” he says, was crucial. “Many entrepreneurs that fail have this image in their mind of what they think a business should look like, which unfortunately means that they will be blowing cash on superficial stuff.”

Geographical expansion and global talent

KYZEN has already made its mark in over 14 countries, but for Carl, it’s not just about growth for growth’s sake. “Geographical expansion in that sense has not been that important to us. What is more important is sustainability and diversification,” he explained.

Having a global workforce has benefited the company in many ways, from improving service availability to accessing talent. “Opening a role to candidates from nearly 200 countries, instead of restricting it to one, has led to an influx of exceptional talent,” Carl explained. “Whereas we struggled to find specific skills in previous companies, we now face the challenge of selecting from a wealth of qualified candidates.”

The benefits of a global reach and a remote working model extend beyond talent acquisition. “Having someone based in Southeast Asia makes it easier to achieve 24/7 coverage without having people unwillingly work night shifts under a different time zone,” he remarked.

Maintaining quality while growing

Carl explained that the company has now entered a second stage aimed at “solidifying our foundation and reinvesting in our growth.”

“Certain things have become easier, others harder. In the sense that, whilst we can now breathe more comfortably, the honeymoon period is long over, and the bar keeps on getting higher. A simple mistake which was acceptable in the early days is now frowned upon”, he commented.

As KYZEN scales, maintaining the quality of its services is a priority. Carl is aware of the challenges that rapid growth can bring. “Operations can get messy fairly quickly at the expense of quality with that approach,” he says, noting that many competitors “take pride in onboarding as many new clients as possible in the shortest period of time.”

At KYZEN, the focus is on quality rather than quantity. “We target a certain niche of clients and focus on quality because that is how we can guarantee and improve our level of service as we grow sustainably.” Finding the right balance is “what makes or breaks a B2B business like ours,” he stated.

The future of iGaming, challenges and opportunities

Looking to the future, Carl identifies two major challenges facing the iGaming industry: navigating new regulations and differentiation. “We have already witnessed companies bailing out of regulated markets they have only recently entered, simply because the requirements are too stiff for them to even be profitable,” he points out. Additionally, standing out in an increasingly homogenised and competitive market is becoming more difficult. “More and more emphasis should be placed on unique differentiating factors which are not easily replicable.”

Carl also believes outsourcing will continue to play a vital role for iGaming companies. “Outsourcing certain functions allows you to focus on other areas which matter most,” he says, highlighting several key benefits, including lower costs, faster results, and a larger pool of talent.

Looking ahead, KYZEN is considering expanding into new industries with its current suite of services, although Carl is cautious about overextending too soon. “We need to maintain focus,” he says, while also keeping the door open to future possibilities. “With our ambitious plans, there is nothing we won’t consider.”