New Bets Framework

A lightweight process for launching new products: validate fast, polish before scaling, then leverage distribution

Dmitry Zlokazov
Dmitry Zlokazov

New Bets Framework

"Everyone can come up with a new idea... There is very little bureaucracy, again, thanks to having founder hands-on, we can easily get a green light on anything, start launching it quickly." - Dmitry Zlokazov

What It Is

The New Bets Framework is Revolut's process for evaluating and launching new product ideas. It combines low-bureaucracy idea generation with rigorous quality standards and staged scaling—allowing anyone in the company to propose ideas while maintaining high product standards.

The framework solves a common tension: how do you move fast and experiment while also maintaining quality? Revolut's answer is to separate speed-to-first-version from quality-of-experience. You build quickly with a small team, but you don't scale until the product is polished.

The framework leverages Revolut's 50M+ user base as a scaling multiplier—once a product proves itself with a small group, distribution is nearly instant.

How It Works

Phase 1: Idea Proposal Anyone can propose a new bet. The pitch must cover:

  • Market opportunity exists
  • Business case is sound
  • We can do it better than competitors (with specific leverage)
  • Clear product concept
  • Customer problem being solved

Phase 2: Rapid Build

  • Assemble a small, lean team (just a few people)
  • Build the first version quickly
  • Focus on getting to market fast

Phase 3: Polish Before Scale

  • Iterate intensively on the product
  • Don't scale until quality bar is met
  • Monitor retention and core metrics
  • Make sure users love the product

Phase 4: Scale via Distribution

  • Once metrics are strong, leverage the existing user base
  • Products can instantly reach 50M+ users
  • Growth becomes multiplication, not addition

Key Principles:

  • Low bureaucracy for green-lighting (founder involvement accelerates decisions)
  • Small teams for initial build
  • High quality bar before scaling
  • Distribution as a multiplier, not a challenge

How to Apply It

  1. Create open ideation channels - Let anyone propose new product ideas, regardless of role

  2. Standardize the pitch format - Require consistent elements: market, business case, competitive advantage, concept, customer problem

  3. Minimize approval layers - Get senior leadership (ideally founders) directly involved to fast-track decisions

  4. Start with skeleton crews - Assign 2-5 people to build the first version, no more

  5. Set scaling gates based on quality and metrics - Don't expand distribution until retention is strong and the product is polished

  6. Leverage existing distribution - Plan for how proven products will reach your full user base

When to Use It

Strong fit:

  • Companies with large existing user bases that provide distribution
  • Organizations with engaged founders who can fast-track decisions
  • Product-led companies that can ship new features without sales cycles
  • Companies building platform/ecosystem products with multiple adjacencies

Consider alternatives when:

  • Early-stage startups without existing distribution
  • Companies where new products require significant go-to-market investment
  • Highly regulated industries where approval processes are unavoidable
  • Markets where first-mover advantage is critical (speed over polish)

Source

  • Guest: Dmitry Zlokazov
  • Episode: "Dmitry Zlokazov"
  • Key Discussion: (00:45:02) - Discussion of how Revolut launches and scales new products
  • YouTube: Watch on YouTube

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