Post on 12-Jan-2017
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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 CATALYST 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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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
This usually involves creating something
THAT DOES NOT EXIST
TRADE OFFS
TRADE OFFS
- Consistency
- Efficiency
- Singularity of vision
- Swiftness of collective decision making
- Ownership
- Speed
- Agility
ONWARDS@nilanp
3 GROWTH HACKS FOR EARLY STAGE STARTUPS
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1. FIND YOUR PRODUCT LEVER
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