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5 PHASES OF STARTUP GROWTH
THE STARTUP GROWTH GRIND
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*YMMV
5 STAGES OF STARTUP GROWTH
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GET LEAN
1. GET PRODUCT
• Get to problem/solution fit
• Build your MVP
• Don’t be too minimum, or it’s probably not viable
http://www.meeteor.com/blog/lean-startup/
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STAGE TO-DO LIST
• Study the Lean Startup framework and apply it to your discovery process.
• Conduct problem/solution fit interviews like crazy.
• Run demand tests with landing pages/ads or crowdfunding campaign.
• Use learnings to define/refine your MVP.
• Iterate as new information flows in.
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NOT TOO ‘M’
2. MVP
• Learn what people want
• Prove demand/need
• Keep risk/burn low
http://www.meeteor.com/blog/lean-startup/
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STAGE TO-DO LIST
• Build your MVP
• Instrument product for visibility into usage
• Conduct ongoing user feedback
• Iterate to improve retention
• Invest in growth to prove retention and initial flow of users, not looking to scale
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IT’S A JOURNEY, NOT A DESTINATION
3. HEAD FOR PMF
• Must Have Score > 40%
• Pass the Sam Altman test
• Measure Net Promoter Score (NPS) – benchmark it
• Stable, sustainable retention rates
Sean Ellis Startup Pyramid
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EVERYONE IS RESPONSIBLE FOR GROWTH
ASSEMBLE YOUR TEAM
• PM Growth
• Analyst / Data Scientist
• Growth Engineer
• Digital Marketers
• Specialist(s)
Zuckerberg poses with some of his deputies at Antonio’s Nut House in Palo Alto, a popular staff hangout:Chamath Palihapitya, vice president for growth, mobile and international; Zuckerberg; Mike Schroepfer, vice president of engineering; Jonathan Heiliger, vice president of technical operations; Chris Cox,vice president of product.
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RAPID EXPERIMENTATION DRIVES GROWTH
GROWTH PROCESS
• Ideate: Unbridled idea generation
• Prioritize: Focus on Impact
• Test: Rapid experimentation
• Analysis: Applicable learning
Ideate
Prioritize
Test
Analyze
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WORDS ARE EVERYTHING
FIND LANGUAGE/MARKET FIT
What do your users think you’ve built for them?
Store Your Photos Share Your Photos
Find a Date Help Friends Find a Date
Source: James Currier
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LEAKY BUCKETS ARE GROWTH KRYPTONITE
OPTIMIZE FLOWS
• Build Desire, Reduce Friction
• Maximize % of users who get to must-have experience
• Understand motivators and hurdles to improve
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BATTLESHIP - MARKETING EDITION
CHANNEL/PRODUCT FIT
• Identify where your customers are (and where your competition isn’t)
• Ask “How does what I offer map to channel experience?”
• Do things that don’t scale
• Test for signal, double down on what works
• Keep searching
http://leanentrepreneur.co
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IT’S GO TIME
4. SCALE
• Hire channel specialists to ramp growth
• Increase experimentation velocity
• Seek out high impact opportunities
• Keep close eye on core metrics
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GROWTH IS NEVER DONE
5. MATURITY
• Horizontal and vertical expansion opportunities
• Identifying new channels that require scale or specialization
• M&A
• Incremental and high-impact wins
globevector.com
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*YMMV
5 STAGES OF STARTUP GROWTH
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TAKEAWAYS
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FOCUS IS KEY
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THERE IS NO SUBSTITUTE FOR A GREAT PRODUCT
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SPEED IS YOUR SECRET WEAPON
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GROWTH IS NEVER DONE
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KEEP LEARNING
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GET IN TOUCH
@morganb @morganb180 morganbrown.co /in/morganb