Zefir’s Fresh Start: Clear Vision, Solid Ambitions, Collective Strength

At Zefir, we believe in the power of evolution — not change for the sake of change. Recently, we decided to about align our Culture more closely with our essence, ensuring everyone at Zefir is rowing in the same direction. And it dawned on us that not everyone outside will thrive in Zefir’s unique environment — and that’s perfectly okay.

Today, I’m thrilled to unveil our revamped Operating Principles. This has been a collective journey, shaped immensely by the unwavering support and insight from our cofounders, Rémy Fabre & Louis Lambert. Their commitment has been the backbone of this transformative project. Guided by the strategic frameworks from Sequoia and the insightful teachings of Ravi Gupta, we’ve been able to distill the essence of our culture into more than mere words. I must also extend a special thank you to Julien Dias, our Design Lead, whose creative mind has brought our vision to life.

Renewing Our Principles: The Process

Before diving into the details, you might be curious about our approach. Here’s the process we followed to refresh Zefir’s core principles:

• Gathering Stories: We started with stories from our team — highs and lows — to pinpoint what truly defined us and set us apart.
• Picking Themes: We distilled these stories into themes that align with our core beliefs and needs.
• Defining Operating Principles: From this collective insight, we shaped our three new Operating Principles. We iterated over a couple of days with feedback from the team to make sure they truly reflected our collective voice.
• Deducing People Traits: Next, we pinpointed specific behavioral traits that embody our principles, which we now seek in every candidate during interviews.
• Setting Commitments: We established concrete commitments to bring these principles to life within our daily operations.
• Brand Alignment: we collaborated closely with our Brand team to ensure our renewed principles were in harmony with our mission and bring them to “life”.
• Company-wide sharing: The final step was sharing these new principles with the entire team during an all-hands meeting.

Now that we’ve explored our process to get them, allow me to introduce our new Operating Principles:

1. Steep Mountains Are Steep

Our principle, ‘Steep mountains are steep,’ means we know our goals are challenging, like climbing a high mountain. But we’re committed to doing what it takes to reach the top, making sure our efforts match how big our dreams are.

In 2021, we released our first product for home sellers with €4 million in funding. We decided to accelerate and push our monthly customer count from 2 to 30 by September. The “1 home a day” goal was ambitious, and initially, we weren’t sure how to meet it. However, a pact to celebrate New Year’s Eve in Rio if we succeeded kept us driven.

By June, we saw real progress, signing up 7 homes a month, and by August, we reached 11. Although still short of our goal, our efforts in September paid off, and we hit our target. This success was more than just about numbers; it was about our teamwork and proving our product’s worth. Celebrating in Rio, we were reminded of the power of high ambitions and hard work.

From dreaming big to achieving the unthinkable — this is the essence of “Steep mountains are steep.” We set ambitious goals, but they’re not castles in the sky; they’re steep mountains we’re prepared to climb.

What it means for us:

• Ambitious Goals: We aim high, setting challenging objectives that inspire us to go beyond what we thought possible.
• Unified Drive: Every Zefirote is vital to our progress, relentlessly pushing boundaries and exerting maximum effort to achieve our shared goals. Every moment is an opportunity for impact.
• Individual Contribution: We champion the principle that everyone, from interns to the leadership team, directly contributes to our mission, ensuring all hands are on deck in our journey to the summit.

2. Ride Reality

This principle goes beyond just accepting or embracing the challenges we face. It’s about actively seeking out this reality and getting excited about conquering it. When we say we ‘ride’ reality, it means we don’t just deal with what’s thrown at us; we thrive on it.

In 2022, we saw big growth and had just received €20 million from Sequoia. But we hit some tough spots: rising inflation and big hikes in interest rates were bad news for our business, which depends on people getting loans to buy homes. Facing a threat that a 10% fall in house prices could put us out of business, so we quickly changed our plan.

Within a month, we stopped selling our original product and started a new one for home sellers, turning Zefir into the first platform for collective house sales. This crucial change was key to staying afloat and caused our GMV to jump from €0 to €200M in a year, showing that being flexible and facing reality can pay off.

“Ride Reality” isn’t just a mantra; it’s our lifeline. When economic tides turned in 2022, Zefir stood at a precipice. The decision to pivot wasn’t made in panic but in recognition of the stark reality facing us. This wasn’t defeat — it was adaptation at its finest.

What it means for us in our day-to-day:

• Informed Decisions: We stay grounded by knowing and tracking our key metrics, ensuring decisions are data-driven and aligned with our reality.
• Open Feedback Culture: We embrace regular, transparent feedback from peers and managers alike, fostering an environment of continuous improvement and mutual respect.
• Customer-Centricity: We actively seek and value customer feedback, using it as a critical guidepost for adjusting our strategies and actions as fast as possible.

3. Play for the Front of the Jersey

“Play for the Front of the Jersey”¹ emphasizes that we do what’s best for the team’s success above all. It’s making sure the name on the front of our sports jerseys (our team’s name) is more important than the name on the back (our own).

In 2023, during a challenging period for startups, we had just introduced a new product for home sellers and pivoted to become the first collective sale real estate platform. We faced the ambitious task of increasing our GMV from €6 million to over €40 million in just half a year.

What happened next was an amazing show of teamwork. Everyone, no matter their job, helped with customer calls and did more than their usual tasks. Engineers, marketers, and even our admin team worked together in groups focused on boosting sales and connecting with customers. Many people switched jobs to help with the company’s top needs. Our teamwork paid off: we raised a new funding round.

2023 was a testament to our unity. Facing funding challenges, every Zefirote, regardless of role, joined forces, illustrating “Play for the front of the jersey” in its purest form.

What it means for us:

• Equity for All: Every team member receives stock options, ensuring that everyone has a stake in our collective success.
• Collective Participation: We invite all employees to participate in task forces when the need is felt, bringing their help to support our shared goals.
• Transparent Communication: We promote trust and collaboration within our team.

Looking Ahead with Renewed Purpose

As we move forward, these refined principles — Ride Reality, Steep Mountains Are Steep, and Play for the Front of the Jersey — stand as the pillars of our culture.

To our team, our partners, and our community: this evolution is a testament to our shared journey and a commitment to a future where clarity, ambition, and unity lead the way.

Thank you for embracing these principles, for contributing to our collective journey, and for being an integral part of Zefir’s ongoing story.