growth lessons from the 500 startups distro dojo
TRANSCRIPT
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Andy Young // @andyy // [email protected]
7 Growth Lessonsfrom the 500 Startups
Andy Young, EIR @ 500
@andyy
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Andy Young // @andyy // [email protected]
Hi, I’m Andy!@andyy
#fb
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Andy Young // @andyy // [email protected]
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Andy Young // @andyy // [email protected]
train post-seed, pre-A companies to do better Growth Marketing
give them the Funding to do it
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Andy Young // @andyy // [email protected]
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Andy Young // @andyy // [email protected]
So WTF is this Growth Hacking thing?sounds like some kinda bullshit to me..
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Andy Young // @andyy // [email protected]
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Andy Young // @andyy // [email protected]
� What product/service, for which target market?
� Why do our customers love us? Why do they choose us over the competition?
� How do we make money?
� What is our primary way to get new customers?
� Our business will become a huge, runaway success if…
� During the next 3 months we need to focus on…
� What ONE target do we want to hit?
10,000 ft viewbit.ly
/10kftvi
ew
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Andy Young // @andyy // [email protected]
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Andy Young // @andyy // [email protected]
Early stage Growth stage
Goal Product/Market fitScalable, repeatable, predictable growth
Metric Engagement Growth rate
Primary Data Qualitative Quantitative
Growth Strategy Hustle
Build a growth machine
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Andy Young // @andyy // [email protected]
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Andy Young // @andyy // [email protected]
Not an operational dashboard:metrics related to growth
1. Identify top-level KPI2. Add nuance3. Add drivers
4. Add funnel for these drivers
Template Google Sheet: bit.ly/kpi-sheet
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Andy Young // @andyy // [email protected]
Identify yourOne Metric That Matters (OMTM)to get everyone pushingin the same direction
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Andy Young // @andyy // [email protected]
Prioritise using ICE framework:
-Impact-Chance of Success-Effort (time/resources)
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Andy Young // @andyy // [email protected]
The world is constantly changing
(channel efficiency/effectiveness, etc)
Experimentation & learnings
Build a machine
Naturally curious
Motivated by helping the customer achieve their goals
Growth Mindset
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Andy Young // @andyy // [email protected]
Agenda
1. Review KPIs2. What did we learn last week?
3. What experiments are we running this week?
No work is to be done during the meeting!
Weekly Growth Meeting
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Andy Young // @andyy // [email protected]
User testing script - cheers Steve Krug!www.sensible.com/downloads/test-script.pdf
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Andy Young // @andyy // [email protected]
#1 - nail down your value proposition & messaging
#2 - get Product/Market fit before you try and grow
#3 - build a model to understand your business
#4 - identify Levers and prioritise your backlog
#5 - drive growth via experimentation & learnings
#6 - it’s a mindset
#7 - maintain discipline with a weekly growth meeting
Talk to your users!
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Andy Young // @andyy // [email protected]
● 10,000ft view worksheet● Bryan Balfour: The Scientific Method: How to Design &
Track Viral Growth Experiments● Dave McClure's Startup Metrics for Pirates● Eric Ries’s Three Engines of Growth● My deck on Analytics for Startups● 500 Startups Accelerator Marketing Hell Week:
videos, templates & goodness● DISTROSNACK: daily growth hacks
Further references..