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
*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