How to grow right // How to make decisions Wayra Prague, 20 May 2014
Small founder toolkit for making decisions
May 20, 2014 GetYourGuide AG 2
“” Growth is the single defining
characteristic of startups. -- Fred Wilson
What I won’t be talking about
! How to operate through the different growth phases (idea – product/market fit – growth – company building)
! Book: Steve Blank
! How to deal with the psychological stress while growing
! Book: Ben Horowitz
! How to maintain >100% growth rates
May 20, 2014 GetYourGuide AG 5
May 20, 2014 GetYourGuide AG 6
Growth from the driver ’s seat = Making many good decisions
Making…
Making decisions
! Recognize and ignore any fear related to the decision
! Make sure you have enough but not too much information (40-70%)
! Trust your gut
May 20, 2014 GetYourGuide AG 8
…many…
May 20, 2014 GetYourGuide AG 9
…many…
Speed wins
Bad Good
Product Take 8 months to release major feature Rapid A/B Tes9ng
People Hire fast, fire slow Hire slow, fire fast
Company Annual strategy Quarterly OKRs
May 20, 2014 GetYourGuide AG 10
…good decisions
“
” By three methods, we may learn wisdom: First, by reflection, which is noblest; second, by imitation, which is easiest ; and third by experience, which is the bitterest. -- Confucius
Where to apply which decision type?
Company-‐ Specificity Need for speed Dynamic
Efficiency Cost of failure
Imita>on /Learning Low High Low High
Reflec>on /Analyzing High Low High High
Experience /Doing High Low High Low
May 20, 2014 GetYourGuide AG 13
Where we have made bad decisions
People Product Company
Imita>on Culture Applying hotel UX to ac9vi9es space Strategy
Reflec>on Organiza9onal structure
8 months to release one major feature Opera9ons
Experience Finance
May 20, 2014 GetYourGuide AG 14
Where we have made better decisions
People Product Company
Imita>on/Learning • Organiza9onal
structure • Training
A/B Tes9ng ideas • Opera9ons • Finance
Reflec>on Culture Give customers what they want Strategy
Experience Hire & Fire A/B Tes9ng
May 20, 2014 GetYourGuide AG 15
Make Many Good
Decisions
Good luck Bad decisions make good stories