
Ilir Sela: How I Founded Slice Pizza & Became One of Macedonia’s Largest Employers | E1044
Ilir Sela (guest), Harry Stebbings (host)
In this episode of The Twenty Minute VC, featuring Ilir Sela and Harry Stebbings, Ilir Sela: How I Founded Slice Pizza & Became One of Macedonia’s Largest Employers | E1044 explores bootstrapped Pizza Tech: From Tiny Macedonian Town To US Powerhouse Ilir Sela, founder of Slice, recounts his journey from a small Albanian town in Macedonia and immigrant life in Staten Island to building a highly profitable, then venture-backed, pizza-tech platform.
Bootstrapped Pizza Tech: From Tiny Macedonian Town To US Powerhouse
Ilir Sela, founder of Slice, recounts his journey from a small Albanian town in Macedonia and immigrant life in Staten Island to building a highly profitable, then venture-backed, pizza-tech platform.
He explains how capital constraints led him to build a 650-person team in Macedonia, become one of the country’s largest employers, and obsess over deeply vertical solutions for independent pizzerias.
The conversation covers the loneliness of small-business ownership, the pitfalls of delegating too much as a CEO, the nuances of vertical vs. horizontal SaaS, and how Slice drives digital transformation and higher same-store sales for mom-and-pop pizza shops.
Sela also dives into leadership lessons on communication, decision-making, board construction, fundraising in good and bad times, and why he believes success is driven far more by hard work than luck or timing.
Key Takeaways
Capital constraints can create durable competitive advantages.
Bootstrapping forced Sela to build a cost-effective, highly loyal team in Macedonia, invest in talent via English schools, and engineer lean processes that would be hard for well-funded competitors to replicate.
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Delegating without deep alignment is just outsourcing key decisions.
When Sela ‘got out of the way’ and relied too heavily on new executives, growth slowed; he realized founders must stay close to details and decisions until motions are truly proven and repeatable.
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Vertical focus enables deeper value creation than broad horizontal tools.
By focusing solely on independent pizzerias, Slice can build an end-to-end stack tailored to their exact workflows, increasing same-store sales and survival rates rather than just solving a narrow problem.
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The best wedge is solving the customer’s top problem, not their eighth.
Sela emphasizes deeply understanding what actually keeps customers up at night; in pizza, that meant growing revenue from existing customers via digital ordering, not shiny but lower-priority tools like payroll.
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Communication must be frequent, explicit, and grounded in the ‘why’.
As Slice scaled across geographies, Sela learned he had to repeat core messages until he felt nauseous and always tie decisions to a clear, multi-step rationale so teams could make aligned micro-decisions.
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Fundraising success is heavily tied to performance narrative and stage.
Slice easily raised when numbers were exceptional, but in 2019 modest growth plus a narrowly perceived TAM made fundraising brutal, highlighting the importance of realistic expectations and capital discipline.
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Board construction should be intentional, not an accident of financings.
Sela warns that many founders end up with investor-heavy, finance-driven boards; he deliberately added seasoned operators to keep discussions focused on customers, product, and company building.
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Notable Quotes
“Building a small business is an incredibly lonely journey.”
— Ilir Sela
“Capital constraints create some incredible solutions that are very hard to replicate.”
— Ilir Sela
“I don’t believe in getting out of the way of anybody. It’s about being teammates and going along the journey together.”
— Ilir Sela
“Averages hide the truth. I want to know how many merchants are beyond a certain threshold of revenue.”
— Ilir Sela
“I don’t know that luck and timing really exist. It’s really mostly hard work.”
— Ilir Sela
Questions Answered in This Episode
How did you practically transition from being overly consensus-driven to making faster, more decisive calls as CEO?
Ilir Sela, founder of Slice, recounts his journey from a small Albanian town in Macedonia and immigrant life in Staten Island to building a highly profitable, then venture-backed, pizza-tech platform.
Get the full analysis with uListen AI
What specific metrics or signals tell you a pizzeria is ready for the next Slice product in the stack?
He explains how capital constraints led him to build a 650-person team in Macedonia, become one of the country’s largest employers, and obsess over deeply vertical solutions for independent pizzerias.
Get the full analysis with uListen AI
If capital had not been constrained early on, how do you think Slice’s culture and competitive position would differ today?
The conversation covers the loneliness of small-business ownership, the pitfalls of delegating too much as a CEO, the nuances of vertical vs. ...
Get the full analysis with uListen AI
How do you preserve local independence and brand identity for pizzerias while standardizing technology and processes across thousands of shops?
Sela also dives into leadership lessons on communication, decision-making, board construction, fundraising in good and bad times, and why he believes success is driven far more by hard work than luck or timing.
Get the full analysis with uListen AI
What blind spots do you think Slice still has today, and how are you trying to surface and address them internally without inviting competitors in?
Get the full analysis with uListen AI
Transcript Preview
Pizza, in the US at least, is a staple. It is a product that is low cost, travels well, it feeds an entire family or group of friends. In recessions, in fact, consumers will tend to turn their nights out in, and instead of going out to a restaurant, they'll order pizza at home and they'll have a family pizza night. Pizzerias thrive, especially in the most challenging times, and this was also true in the middle of COVID. It became probably the last option standing in many suburbs and small towns across the country.
(music) Elia, I am so excited for this show. I heard so many good things from, from Ben Sun, from Wily, from Jeff Richards. So, thank you so much for joining me today.
Thank you so much for hosting me. I'm, uh, I'm looking forward to this one. Let's have some fun.
It's gonna be great. But I wanna start, and you know, I'm secretly an armchair psychologist, so I like to dig into people's childhoods. But, uh, you know, you saw your parents running small businesses, and your grandparents even. What is the single biggest takeaway for you from seeing your parents and grandparents build their small business in your more formative years?
Yeah. The, the biggest takeaway is that building a small business is an incredibly lonely journey. It's lonely, uh, because you kinda start off this business trying to solve one problem, and then you inherit an infinite amount of other problems that you suddenly have to be an expert in solving. Um, and so that process can be incredibly lonely.
It's a lonely process. And then you decide to be a sole founder. (laughs) Can you talk to me-
That's right.
Uh, it is so lonely, why did you decide to be a sole founder when you could have had a co-founder? And do you find it lonely today? I know I do.
Being a founder, a CEO, is, uh, can certainly be a lonely job. Uh, I think it's very different than what small independent businesses face. Uh, I'm fortunate enough to have the resources, uh, to be able to surround myself with an amazing team, and so that makes my journey much less lonely than, imagine a pizza shop owner or a bakery owner and the lack of resources or time or know-how that they may be facing with in order to have the same luxury that I do. So, it's a very different, uh, experience. But for me, I think being a sole founder, I'll be honest, I didn't, I didn't really come, come through sort of the VC or Silicon Valley sort of part of, uh, the business world. I was just raised to build businesses by creating something that the world needs. Um, you know, if that cost me a dollar, charge two dollars for it, and do that as many times as possible.
(laughs)
Like, I, you know, I'm much more of a small business owner at heart than I am, uh, this person who sought out to build, you know, a multi-billion dollar company.
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