Customer Growth Hacking for Lean Startups: How Silicon Valley is Creating Billion Dollar $tartups
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Traditional Business Planning theories and tools are not keeping pace with the rate of innovation in the startup world. Many startups are no longer using traditional business plans. Many startups do not formally start with applying Porter's Competitive Strategy or Value Chain. For the many billion dollar startups that have recently been created, none has been reported to use traditional business tools such as the voluminous business plan, value chain, and industry attractiveness analysis. Today's billion dollar startups such as Facebook, GroupOn, AirBnB, and DropBox are mainly using tools of Customer Growth Hacking and in particular, tools of the Lean Startup methodology in combination with Growth Hacking. The presentation above includes a visual summary of the methodology of Customer Growth Hacking as it relates to the Lean Startup Methodology and Growth Hacking. The Lean Startup Methodology and Growth Hacking "intersect" in the area of Innovation Accounting and Marketing Analytics and in particular, "EARRR" metrics of the Customer Growth Honeycomb. Although the Lean Startup Methodology is comprehensive, its focus is on emergent problem solving especially using the Enterprise Engine of a business model engine. In contrast, Growth Hacking focuses on the performance of the Customer Growth Engine especially using the "EAARRR" metrics to facilitate innovation accounting. In practice, billion dollar startups synchronize the performance of the Enterprise Engine and Customer Growth Engine with the performance of the Value Engine of a business model while rapidly and inexpensively discovering as well as solving BUMPs: Big Urgent Market Problems. To conclude, this article presents an overview of the methodology of Customer Growth Hacking which covers emergent problem solving as well as deliberate problem solving. In todays world of high volatility, uncertainty, complexity, and ambiguity, the planning paradigm is shifting away from deliberate problem solving to emergent problem solving. While the tools of traditional business planning are applied and relevant to established businesses with established customers and known products, in the fast moving world of startups, traditional business planning tools are becoming obsolete. If you're thinking of building billion dollar startups, the methodology most likely to let you rapidly and inexpensively achieve your goal is Customer Growth Hacking. Why not start with the phase of Customer Hacking (to achieve problem-solution fit), then proceed to Customer Growth (to achieve product-market fit), and move further to Growth Hacking (to achieve business model fit and scaling)? What do you think?
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Customer Growth Hacking for Lean Startups: How Silicon Valley is Creating Billion Dollar $tartups
- 1. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Customer Growth Storyboard Using a Business Model Strip to Comprehensively Visualize a Customer Growth Factory S: Supplier C: Customer Business Model Strip (System: Customer Growth Factory) Processing (Stock)
- 2. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Goal/Job To Get Done (JTGD) Value: +/-‐ (Trade-‐off; Margin) Delight: + (Revenue/Streams) Pain: -‐ (Cost/Structure) Node (Object) S: Supplier C: Customer Processing (Stock) Business Model Strip (System: Customer Growth Factory) Customer Growth Storyboard Using a Business Model Strip to Comprehensively Visualize a Customer Growth Factory
- 3. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Goal/Job To Get Done (JTGD) Value: +/-‐ (Trade-‐off; Margin) Delight: + (Revenue/Streams) Pain: -‐ (Cost/Structure) Node (Object) S: Supplier C: Customer Business Model Strip (System: Customer Growth Factory) Customer Growth Storyboard Using a Business Model Strip to Comprehensively Visualize a Customer Growth Factory Product (MVP)/ Strategy/ Vision
- 4. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Goal/Job To Get Done (JTGD) Value: +/-‐ (Trade-‐off; Margin) Delight: + (Revenue/Streams) Pain: -‐ (Cost/Structure) Node (Object) S: Supplier C: Customer Business Model Strip (System: Customer Growth Factory) Customer Growth Storyboard Using a Business Model Strip to Comprehensively Visualize a Customer Growth Factory Payment Product (MVP)/ Strategy/ Vision
- 5. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Goal/Job To Get Done (JTGD) Value: +/-‐ (Trade-‐off; Margin) Delight: + (Revenue/Streams) Pain: -‐ (Cost/Structure) Node (Object) Customer Growth Storyboard Using a Business Model Strip to Comprehensively Visualize a Customer Growth Factory
- 6. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing i p m a c t Customer Growth Storyboard Comprehensively Visualize a System System, Environment, and Impact (Value; Trade-‐off: Success Criteria/Metrics/Key Performance Indicators) System
- 7. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Business System Engagement (Experience) AcTvaTon Referral Reward (Revenue) E A A R R R RetenTon AcquisiTon Customer Growth Storyboard Comprehensively Visualize a Business System Business System, Environment, and Impact (Value; Trade-‐off: Success Criteria/Metrics/Key Performance Indicators)
- 8. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Business Model Engagement (Experience) AcTvaTon Referral Reward (Revenue) E A A R R R RetenTon AcquisiTon Customer Growth Storyboard Comprehensively Visualize a Business Model Business Model, Environment, and Impact (Value; Trade-‐off: Success Criteria/Metrics/Key Performance Indicators)
- 9. Customer Growth Storyboard “EAARRR” Success Criteria (Metrics) for InnovaTon AccounTng Engagement (Experience) AcTvaTon Referral Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon Reward (Revenue) The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Problem-‐ Solving Cycle (Steering)
- 10. Customer Growth Storyboard “EAARRR” Success Criteria (Metrics) for InnovaTon AccounTng Engagement (Experience) AcTvaTon Referral Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon Reward (Revenue) The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling
- 11. Customer Growth Storyboard “EAARRR” Success Criteria (Metrics) for InnovaTon AccounTng Engagement (Experience) AcTvaTon Referral Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon Reward (Revenue) 6 B.U.M.P.-‐QUESTIONS FOR CUSTOMER GROWTH HACKING (CGH) How might we ideally increase … E: Engagement (Experience)? A: AcquisiTon? A: AcTvaTon? R: RetenTon? R: Referral? R: Reward? The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling
- 12. Engagement (Experience) Hacks AcTvaTon Hacks Referral Hacks Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon Hacks AcquisiTon Hacks The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Reward (Revenue) Hacks 6 B.U.M.P.-‐QUESTIONS FOR CUSTOMER GROWTH HACKING (CGH) How might we ideally increase … E: Engagement (Experience)? A: AcquisiTon? A: AcTvaTon? R: RetenTon? R: Referral? R: Reward? Customer Growth Storyboard 6 Categories of Customer Growth Hacks
- 13. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling 6 B.U.M.P.-‐QUESTIONS FOR CUSTOMER GROWTH HACKING (CGH) How might we ideally increase … E: Engagement (Experience)? A: AcquisiTon? A: AcTvaTon? R: RetenTon? R: Referral? R: Reward? Customer Growth Storyboard 6 Categories of Customer Growth Hypotheses (EAARRR-‐InnovaBon AccounBng) Engagement (Experience) Hypothesis AcTvaTon Hypothesis Referral Hypothesis RetenTon Hypothesis AcquisiTon Hypothesis Reward (Revenue) Hypothesis
- 14. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Customer Growth Factory Engagement (Experience) AcTvaTon Referral Reward (Revenue) E A A R R R RetenTon AcquisiTon The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling B.U.M.P. = Big Urgent Market Problem Customer Growth Storyboard Customer Growth Factory
- 15. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Engagement (Experience) AcTvaTon Referral Reward (Revenue) E A A R R R RetenTon AcquisiTon Experiment & Reflect The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling B.U.M.P. = Big Urgent Market Problem Think Hypothesize Observe Customer Growth Storyboard O.T.H.E.R. Loop: Core & Periphery
- 16. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Engagement (Experience) AcTvaTon Referral Reward (Revenue) E A A R R R RetenTon AcquisiTon Experiment & Reflect O.T.H.E.R. Loop (DeclaraTve/ExperienTal) O: Observe different – Observe what no one else is observing T: Think different – Think what no one else is thinking H: Hypothesize different – Hypothesize what no one else is hypothesizing E: Experiment different – Experiment on what no one else is experimenBng on R: Reflect different – Reflect on what no one else is reflecBng on The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling B.U.M.P. = Big Urgent Market Problem Think Hypothesize Observe Customer Growth Storyboard O.T.H.E.R. Loop: Core & Periphery
- 17. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Engagement (Experience) AcTvaTon Referral Reward (Revenue) E A A R R R RetenTon AcquisiTon Experiment & Reflect q Build (MVP) q Measure q Learn O.T.H.E.R. Loop (DeclaraTve/ExperienTal) O: Observe different – Observe what no one else is observing T: Think different – Think what no one else is thinking H: Hypothesize different – Hypothesize what no one else is hypothesizing E: Experiment different – Experiment on what no one else is experimenBng on R: Reflect different – Reflect on what no one else is reflecBng on The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling B.U.M.P. = Big Urgent Market Problem Think Hypothesize Observe Customer Growth Storyboard O.T.H.E.R. Loop: Bullseye, Core, and Periphery
- 18. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Engagement (Experience) AcTvaTon Referral Reward (Revenue) E A A R R R RetenTon AcquisiTon Experiment & Reflect q Build (MVP) q Measure q Learn O.T.H.E.R. Loop (DeclaraTve/ExperienTal) O: Observe different – Observe what no one else is observing T: Think different – Think what no one else is thinking H: Hypothesize different – Hypothesize what no one else is hypothesizing E: Experiment different – Experiment on what no one else is experimenBng on R: Reflect different – Reflect on what no one else is reflecBng on The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling B.U.M.P. = Big Urgent Market Problem Think (Causes) Hypothesize (Fitness Plan) Observe (Job To Get Done/Problem) Customer Growth Storyboard O.T.H.E.R. Loop: Bullseye, Core, and Periphery
- 19. Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing Engagement (Experience) AcTvaTon Referral Reward (Revenue) E A A R R R RetenTon AcquisiTon Experiment & Reflect q Build (MVP) q Measure q Learn The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling B.U.M.P. = Big Urgent Market Problem Customer Growth Storyboard O.T.H.E.R. Loop: Bullseye, Core, and Periphery; Customer Growth Factory (Business Model Engine/Strip) S: Supplier C: Customer Product (Min. Viable Product) Strategy (Business Model Engine) Vision (Winning AspiraBon) Think (Causes) Hypothesize (Fitness Plan) Observe (Job To Get Done/Problem)
- 20. Engagement (Experience) AcTvaTon Referral Reward (Revenue) Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon Product Strategy Vision MVP = Minimum Viable Product MagneBc Value ProposiBon Business Model Engine (Pivots) Leap of Faith (Winning AspiraBon) Why? What? How? The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling B.U.M.P. = Big Urgent Market Problem Experiment & Reflect q Build (MVP) q Measure q Learn Think (Causes) Hypothesize (Fitness Plan) Observe (Job To Get Done/Problem) Customer Growth Storyboard O.T.H.E.R. Loop: Bullseye, Core, and Periphery; Customer Growth Plan
- 21. Engagement (Experience) AcTvaTon Referral Reward (Revenue) Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon BUILD (MVP) MEASURE LEARN (Data) (Ideas) The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Customer Growth Storyboard Lean Startup Steering
- 22. Engagement (Experience) AcTvaTon Referral Reward (Revenue) Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon BUILD (MVP) MEASURE LEARN Product Strategy Vision MVP = Minimum Viable Product MagneBc Value ProposiBon Business Model Engine (Pivots) Leap of Faith (Winning AspiraBon) (Data) (Ideas) Why? What? How? B.U.M.P. B.U.M.P. = Big Urgent Market Problem The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Customer Growth Storyboard Lean Startup Steering
- 23. Engagement (Experience) AcTvaTon Referral Reward (Revenue) Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Customer Growth Storyboard DMAIC Cycle DMAIC Cycle (Six Sigma Methodology) D: Define M: Measure A: Analyze I: Improve C: Control D • Define M • Measure A • Analyze I • Improve C • Control
- 24. Engagement (Experience) AcTvaTon Referral Reward (Revenue) Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Customer Growth Storyboard O.T.H.E.R. Loop O.T.H.E.R. Loop O: Observe different – Observe what no one else is observing T: Think Different – Think what no one else is thinking H: Hypothesize Different – Hypothesize what no one else is hypothesizing E: Experiment Different – Experiment on what no one else is experimenBng on R: Reflect Different -‐ Reflect what no one else is reflecBng on Observe Different Think Different Hypothesize Different Experiment Different Reflect Different O T H E R
- 25. OrganizaBon/Project: …………………..…………… Job-‐To-‐Get-‐Done (JTGD) -‐ …………………..………………… (How might we ideally improve…) Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R Engagement (Experience) AcTvaTon Referral RetenTon AcquisiTon Reward (Revenue) The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Customer Growth Storyboard Customer Growth Clock
- 26. 1 2 3 4 5 6 7 8 OrganizaBon/Project: …………………..…………… Job-‐To-‐Get-‐Done (JTGD) -‐ …………………..………………… (How might we ideally increase …) Engagement (Experience) Referral Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon Reward (Revenue) The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Customer Growth Storyboard Customer Growth Clock AcTvaTon
- 27. CUSTOMER GROWTH CLOCK CUSTOMER HACKING (Red/Green Hat) 1. Problem (Customer) Discovery 2. Problem (Customer) ValidaTon 3. Solugon (Product) Discovery 4. Solugon (Product) ValidaTon 5. Problem-‐Solugon (Value Prop.) Fit CUSTOMER GROWTH (Red/White Hat) 6. Business Model (Vision) TracTon 7. Product-‐Market (Strategy) Fit GROWTH HACKING (White/Green Hat) 8. Business Model (Mission) Fit/Scaling 1 2 3 4 5 6 7 8 Engagement (Experience) Referral Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon OrganizaBon/Project: …………………..…………… Job-‐To-‐Get-‐Done (JTGD) -‐ …………………..………………… (How might we ideally increase …) Reward (Revenue) The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Customer Growth Storyboard Customer Growth Clock AcTvaTon
- 28. Customer Growth Storyboard Business System Engagement (Experience) AcTvaTon Referral Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon Reward (Revenue) The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Business System B.U.M.P. = Big Urgent Market Problem
- 29. Customer Growth Storyboard Business Model Engine Engagement (Experience) AcTvaTon Referral Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon Reward (Revenue) The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Customer Growth Engine (CGE) Enterprise Engine (EE) Value Engine (VE) Business Model Engine B.U.M.P. = Big Urgent Market Problem
- 30. Customer Growth Storyboard Business Model Engine Engagement (Experience) AcTvaTon Referral Register at www.visionaryd.com to learn more about Customer Growth Hacking. Lean Startup Coach. Dr. Rod King. rodkuhnhking@gmail.com & h;p://businessmodels.ning.com & h;p://twi;er.com/RodKuhnKing E A A R R R RetenTon AcquisiTon Reward (Revenue) The Three Main Phases of Customer Growth Hacking 1. Customer Hacking: Problem-‐SoluBon Fit 2. Customer Growth: Product-‐Market Fit 3. Growth Hacking: Business Model Fit/Scaling Customer Growth Engine (CGE) Enterprise Engine (EE) Value Engine (VE) Business Model Engine BUSINESS MODEL ENGINE (Stack) Customer Growth Engine (CGE) q Customer Segments -‐ CS q Channels/Customer Rel. -‐ CH/CR q Product/Service -‐ PS Enterprise Engine (EE) q Value ProposiTon -‐ VP q Key AcTviTes/Processes -‐ KA q Key Resources -‐ KR q Inputs/Partners -‐ KP Value Engine (VE) q Profit (Margin) – P$ q Revenue (Streams) – R$ q Cost (Structure) – C$ q Strategy -‐ Strat B.U.M.P. B.U.M.P. = Big Urgent Market Problem