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5 Phases of Startup Growth
This document outlines 5 phases of startup growth: 1. Get Lean - Focus on problem/solution fit and building a minimum viable product through customer interviews and testing. 2. MVP - Learn what customers want through an MVP to prove demand while keeping costs low. 3. Head for PMF - Achieve product/market fit by reaching must-have scores and metrics like NPS above 40%. 4. Scale - Hire growth specialists to ramp up experimentation and identify high-impact opportunities while monitoring core metrics. 5. Maturity - Pursue horizontal and vertical expansion through new channels, specialization, and acquisitions to drive incremental wins.
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Introduction to the startup growth phases which include 5 key stages that define startup development.
Introduction to the startup growth phases which include 5 key stages that define startup development.
Focus on achieving problem/solution fit, building an MVP and iterating based on user feedback.
Importance of PMF with metrics like Must Have Score, NPS, and retention as indicators for success.
Essential teamwork structure for growth including roles like PM Growth and Data Scientist.
Emphasis on rapid experimentation including ideation, prioritization, testing, and analysis.
Finding the right language that resonates with users and reflects their perception of the product.
Strategies to improve user flow, reduce friction, and enhance the must-have experience for users.
Identifying customer channels, testing offerings, and focusing on impactful marketing strategies.
Strategies for scaling growth, increasing experimentation, and monitoring core growth metrics.
Exploring growth opportunities during maturity phase, including channel expansion and M&A.
Recap of the 5 stages of startup growth and the continuous nature of growth.
Essential takeaways highlighting focus, product quality, speed in execution, endless learning, and growth being a persistent endeavor.
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5 Phases of Startup Growth
- 1. 5 PHASES OF STARTUPGROWTH THE STARTUP GROWTH GRIND
- 4. *YMMV 5 STAGES OFSTARTUP GROWTH
- 5. GET LEAN 1. GETPRODUCT • 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/
- 6. 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.
- 7. NOT TOO ‘M’ 2.MVP • Learn what people want • Prove demand/need • Keep risk/burn low http://www.meeteor.com/blog/lean-startup/
- 8. 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
- 9. 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
- 10. EVERYONE IS RESPONSIBLEFOR 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.
- 11. RAPID EXPERIMENTATION DRIVESGROWTH GROWTH PROCESS • Ideate: Unbridled idea generation • Prioritize: Focus on Impact • Test: Rapid experimentation • Analysis: Applicable learning Ideate Prioritize Test Analyze
- 12. WORDS ARE EVERYTHING FINDLANGUAGE/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
- 13. LEAKY BUCKETS AREGROWTH KRYPTONITE OPTIMIZE FLOWS • Build Desire, Reduce Friction • Maximize % of users who get to must-have experience • Understand motivators and hurdles to improve
- 14. BATTLESHIP - MARKETINGEDITION 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
- 15. 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
- 16. GROWTH IS NEVERDONE 5. MATURITY • Horizontal and vertical expansion opportunities • Identifying new channels that require scale or specialization • M&A • Incremental and high-impact wins globevector.com
- 17. *YMMV 5 STAGES OFSTARTUP GROWTH
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- 20. THERE IS NOSUBSTITUTE FOR A GREAT PRODUCT
- 21. SPEED IS YOUR SECRETWEAPON
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- 24. GET IN TOUCH @morganb@morganb180 morganbrown.co /in/morganb