5 Phases of Startup Growth

Small Business & Entrepreneurship

morgan-brown
  • 5 PHASES OF STARTUP GROWTH THE STARTUP GROWTH GRIND
  • *YMMV 5 STAGES OF STARTUP GROWTH
  • 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/
  • 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.
  • NOT TOO ‘M’ 2. MVP • Learn what people want • Prove demand/need • Keep risk/burn low http://www.meeteor.com/blog/lean-startup/
  • 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
  • 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
  • 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.
  • RAPID EXPERIMENTATION DRIVES GROWTH GROWTH PROCESS • Ideate: Unbridled idea generation • Prioritize: Focus on Impact • Test: Rapid experimentation • Analysis: Applicable learning Ideate Prioritize Test Analyze
  • 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
  • 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
  • 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
  • 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
  • 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 http://globevector.com
  • *YMMV 5 STAGES OF STARTUP GROWTH
  • TAKEAWAYS
  • FOCUS IS KEY
  • THERE IS NO SUBSTITUTE FOR A GREAT PRODUCT
  • SPEED IS YOUR SECRET WEAPON
  • GROWTH IS NEVER DONE
  • KEEP LEARNING
  • GET IN TOUCH @morganb @morganb180 morganbrown.co /in/morganb
Please download to view
24
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Description
Text
  • 5 PHASES OF STARTUP GROWTH THE STARTUP GROWTH GRIND
  • *YMMV 5 STAGES OF STARTUP GROWTH
  • 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/
  • 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.
  • NOT TOO ‘M’ 2. MVP • Learn what people want • Prove demand/need • Keep risk/burn low http://www.meeteor.com/blog/lean-startup/
  • 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
  • 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
  • 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.
  • RAPID EXPERIMENTATION DRIVES GROWTH GROWTH PROCESS • Ideate: Unbridled idea generation • Prioritize: Focus on Impact • Test: Rapid experimentation • Analysis: Applicable learning Ideate Prioritize Test Analyze
  • 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
  • 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
  • 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
  • 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
  • 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 http://globevector.com
  • *YMMV 5 STAGES OF STARTUP GROWTH
  • TAKEAWAYS
  • FOCUS IS KEY
  • THERE IS NO SUBSTITUTE FOR A GREAT PRODUCT
  • SPEED IS YOUR SECRET WEAPON
  • GROWTH IS NEVER DONE
  • KEEP LEARNING
  • GET IN TOUCH @morganb @morganb180 morganbrown.co /in/morganb
Comments
Top