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THE MISSION DRIVEN STARTUP

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HOW BUILDING YOUR CULTURE AROUND A CAUSE

CAN CREATE A PRODUCT WHICH GROWS ITSELF

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+ A FEW GROWTH HACKS

FIRST INTRODUCTIONS

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INTROS

WTF IS ONE ANYWAY ?

A MISSION DRIVEN STARTUP IS A VEHICLE FOR CHANGING THE

WORLD

TRANSFERWISE WAS STARTED TO SOLVE A PROBLEM

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IN OUR CASE A PERSONAL PAIN POINT HELPED TO SEE AN EPIDEMIC DYSFUNCTION IN

THE ENTIRE INDUSTRY, WHICH LACKED ANY NATURAL FORCE OF IMPROVEMENT OR MOVE

TOWARDS RESOLUTION.  — KRISTO KÄÄRMANN & TAAVET HINRIKUS @nilanp@nilanp

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A BANK COULD HAVE STARTED TRANSFERWISE AT ANY POINT IN THE

LAST 100 YEARS

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GROWTH

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£0.5 MILLION ➤ £0.5 BILLION

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60 TRANSFERWISERS ➤ 600 TRANSFERWISERS

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EVANGELISM IS THE BIGGEST DRIVER OF GROWTH

WE BELIEVE WE CAN CREATE EVANGELICAL CUSTOMERS

SO WHY DO PEOPLE RECOMMEND OUR PRODUCT ?

RATIONALRATIONAL EMOTIONAL

RATIONALPRODUCT BRAND

RATIONALSPEED CONVENIENCE PRICE COVERAGE

BRAND

TO ACHIEVE ADVOCACY YOUR PRODUCT NEEDS TO BE AN ORDER OF MAGNITUDE

BETTER THAN THE ALTERNATIVE

BUT DON’T DO THIS AS “GROWTH HACK” DO IT BECAUSE THE WORLD

DESERVES IT

RATIONALSPEED CONVENIENCE PRICE COVERAGE

BRAND

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PEOPLE DO NOT TALK ABOUT MONEY TRANSFER IN THE PUB

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GIVE YOUR CUSTOMERS STORIES TO TELL

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INSPIRE PEOPLE WITH YOUR CAUSE AND YOU WILL CREATE A MOVEMENT BIGGER

THAN YOUR STARTUP

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You can’t copy that !

CULTURE

WE WORK IN AUTONOMOUS INDEPENDENT TEAMS THAT

FOCUS ON KPIS THAT MAKE A DIFFERENCE TO OUR

CUSTOMERS AND DRIVE OUR GROWTH

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THE CURRENCIES TEAM WORKS ON LAUNCHING NEW CURRENCIES

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IT IS AUTONOMOUS & INDEPENDENT

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Currencies Operations Verification Conversion Experience Virality Marketing

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VALUES : CUSTOMERS > TEAM > EGO

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WEAK PRODUCT OWNERSHIP

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EVERY PART OF THE PRODUCT IS OWNED

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ANY TEAM CAN CHANGE ANY PART OF THE PRODUCT

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MARKETING

PRODUCT

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METRICS - NPS

Would you recommend us to your friends?

1 2 3 4 5 6 7 8 9 10

Detractors Neutral Promoters

Would you recommend us to your friends?

1 2 3 4 5 6 7 8 9 10

Detractors Neutral Promoters

Total

Promoters - Detractors

= NPS

If promoters > detractors you WILL

grow

N.B. This is fucking hard.

It works ! (But barely)

It works ! (But barely)

It works withno significant issues !

It works ! (But barely)

It works withno significant issues !

It works. Wow that was slick

It works ! (But barely)

It works with no significant issues !

It works. Wow that was slick

You’ve just blown my socks off that was fucking incredible

TRADE OFFS

TRADE OFFS

- Consistency

- Efficiency

- Singularity of vision

- Swiftness of collective decision making

- Ownership

- Speed

- Agility

3 GROWTH HACKS FOR EARLY STAGE STARTUPS

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1. FIND YOUR GROWTH LEVERS

Supply was the biggest growth lever at HouseTrip

Facebook’s news feed optimises for engagement

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2. BUILD ACQUISITION INTO YOUR PRODUCT

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3. USE MARKETING TO AMPLIFY YOUR PRODUCT

Focus

=

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TITLE TEXT

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1. FIND YOUR SCALING LEVERS 2. BUILD ACQUISITION INTO

YOUR PRODUCT 3. ADD MARKETING

ONWARDS@nilanp