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Andy Young // @andyy // [email protected]
7 Growth Lessonsfrom the 500 Startups
Andy Young, EIR @ 500
@andyy
Andy Young // @andyy // [email protected]
Hi, I’m Andy!@andyy
#fb
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ia.com
Andy Young // @andyy // [email protected]
Andy Young // @andyy // [email protected]
train post-seed, pre-A companies to do better Growth Marketing
give them the Funding to do it
Andy Young // @andyy // [email protected]
Andy Young // @andyy // [email protected]
So WTF is this Growth Hacking thing?sounds like some kinda bullshit to me..
Andy Young // @andyy // [email protected]
Andy Young // @andyy // [email protected]
7 Growth Lessonsfrom the Distro Dojo
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
Andy Young // @andyy // [email protected]
#2 - get Product/Market fitbefore you try and grow
Andy Young // @andyy // [email protected]
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
Andy Young // @andyy // [email protected]
#3 - build a Modelto understand your business
Andy Young // @andyy // [email protected]
Andy Young // @andyy // [email protected]/
kpi-sheet
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
Andy Young // @andyy // [email protected]
#4 - identify Leversand prioritise your backlog
Andy Young // @andyy // [email protected]
Identify yourOne Metric That Matters (OMTM)to get everyone pushingin the same direction
Andy Young // @andyy // [email protected]
Prioritise using ICE framework:
-Impact-Chance of Success-Effort (time/resources)
Andy Young // @andyy // [email protected]
#5 - drive growth viaexperimentationand learnings
Andy Young // @andyy // [email protected]
“Learning is the essential unit of progress for startups”
Andy Young // @andyy // [email protected]
Make predictions in advance!
Andy Young // @andyy // [email protected]
#6 - it’s a Mindset
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
Andy Young // @andyy // [email protected]
#7 - maintain discipline with a Weekly Growth Meeting
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
Andy Young // @andyy // [email protected]
BONUS #8Talk to your users
Andy Young // @andyy // [email protected]
User testing script - cheers Steve Krug!www.sensible.com/downloads/test-script.pdf
Andy Young // @andyy // [email protected]
Takeaways
Andy Young // @andyy // [email protected]
Takeaways
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!
Andy Young // @andyy // [email protected]
Thanks, & good luck!
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..