slideshare test

1. OPERATIONALIZING GROWTH
HUSTLING => SCALING
@DistroDom - #PODIM2015

2. ABOUT 500 STARTUPS:
• Over 1000 Companies Invested In
• $175M Under Management
• $105M Deployed
• 300+ companies started outside US
• 300+ companies with Women Founders
• Our Team of 50 people spans 12 countries
and speak 20+ different languages
@DistroDom - #PODIM2015
Always #500strong

3. WHO IS THIS GUY DOMINIC?
● Co-Founded GarmentValet
● Co-Founded Curebit / Talkable
Now I’m @DistroDom @500
Startups investing time and $ in
promising startups #500STRONG
@DistroDom - #PODIM2015

4. PRODUCT GROWTH
+
@DistroDom - #PODIM2015

5. @DistroDom - #PODIM2015
BREAKDOWN OF GROWING “GROWTH”
PHASE 1: EARLY TRACTION
PHASE 3: OPERATIONALIZING
PHASE 2: DOUBLING DOWN
…WORKSHOP…

6. @DistroDom - #PODIM2015
WHAT DO WE ALL WANT
PHASE 1: EARLY TRACTION
PHASE 3: OPERATIONALIZING
MOAR TRACTION

7. @DistroDom - #PODIM2015
WHAT LEADS TO EXPONENTIAL GROWTH
ASYMMETRICAL OPPORTUNITIES
NOT FOLLOWING OTHERS
UNFAIR ADVANTAGES
BEING SCRAPPY

8. GROWTH FOR PIRATES… AARRR
@DistroDom - #PODIM2015
Acquisition • Finding the right people to
signup
Activation • Starting to Use Your
Product
Retention • Staying with You Using
Your Product
Referral • Bringing Friends to You
Revenue
• Upsells
• New Products
DAVE MCCLUCRE

9. PHASE 1: EARLY TRACTION….
@DistroDom - #PODIM2015
!! Be Scrappy + Keep Hustling !!
?Many Many questions and uncertainties
=> [xox] => Comparing inputs to outputs
√ Traditional Channels usually won’t work

10. IF
TRADITIONAL CHANNELS
DON’T WORK
THEN WHAT?
@DistroDom - #PODIM2015

11. FIRST, WHAT ARE EARLY GROWTH GOALS
@DistroDom - #PODIM2015
ü Finding Product Market Fit
ü Finding Early Adopters
ü Getting The First Paying Customers
ü Learning Your Conversion Funnel
ü Basic Unit Economics: CAC / LTV
ü Audience Building
Email Lists
Cookie
Pool
Social
Followers

12. SOME HACKY SH*T TO TRY
@DistroDom - #PODIM2015
ü Scraping Lists Online
ü Community Hijacking
ü Social Community Building
ü Outreach Email
ü Power Networking
ü Email Partners

13. When Something Sticks…
DOUBLE
DOWN
@DistroDom - #PODIM2015

14. WHAT DOES “WORKING” MEAN?
@DistroDom - #PODIM2015
60%Sales are coming
from 2-3 channels
GUT
You Need The Right Tools To Measure

15. PHASE 2: DOUBLING DOWN…
WE
EXPERIMENT
LIKE CRAZY
@DistroDom - #PODIM2015

16. PROBLEMS FROM EXPERIMENTATION
@DistroDom - #PODIM2015
ü Test Shit That Doesn’t Matter
ü Tests Take Too Long
ü Winners don’t create meaningful
results to the bottom line
ü Every test is a loser
ü Testing is Disorganized
ü WORST: Testing Slows Growth

17. Growth Is SLOWER than we want
@DistroDom - #PODIM2015

18. Product Backlog is LONGER than we want
@DistroDom - #PODIM2015

19. YOU EXPECT….
@DistroDom - #PODIM2015

20. But you get….
@DistroDom - #PODIM2015

21. #ProductGROWTHDilemma
@DistroDom - #PODIM2015

22. KILL THAT SHIT
Before it KILLS YOU
@DistroDom - #PODIM2015

23. SMOKE TEST
@DistroDom - #PODIM2015

24. Use Smoke Tests to Grow Faster
WAY TO PROVE THAT YOUR PRODUCT
BACKLOG IS WORTH IT
task: validate do
@DistroDom - #PODIM2015

25. @DistroDom - #PODIM2015
- Alberto Savoia

26. LET’S RUN A PROCESS
1. What is the MINIMUM PROOF You Need?
2. How can you get that proof with NO ENGINEERS?
3. Drive the RIGHT TRAFFIC to your experiment
4. MEASURE Conversion
5. Analyze and OPTIMIZE
6. Make a DECISION
@DistroDom - #PODIM2015

27. DECIDE
@DistroDom - #PODIM2015

28. BUILDING A
PROCESS FOR
EXPERIMENTS
@DistroDom - #PODIM2015
PHASE 3: OPERATIONALIZING GROWTH …

29. @DistroDom - #PODIM2015
Credit to Brian Balfour (@bbalfour) - www.CoElevate.com

30. @DistroDom - #PODIM2015
IDEA
IMPACT
CONFIDENCE
EASE
“I.C.E.” SCORE YOUR IDEAS
Credit to Sean Ellis (@seanellis) - GrowthHackers.com

31. @DistroDom - #PODIM2015
1 2 3
THE ROLE OF THE GROWTH MASTER

32. @DistroDom - #PODIM2015
TRELLO IS A GREAT TOOL
Checkout Rob Somers Template: http://robsobers.com/growth-hacking-trello-template/

33. GROWTH => PRODUCT
@DistroDom - #PODIM2015

34. dom@500.co
@DistroDom
www.facebook.com/dominic.coryell
HUSTLE WITH ME
@DistroDom - #PODIM2015

35. EXTRA BACKUP
SLIDES FOR
CASE EXAMPLES
@DistroDom - #PODIM2015

36. WHAT IS THE PROOF YOU NEED?
@DistroDom - #PODIM2015

37. CAN I DO IT WITHOUT CODE?
@DistroDom - #PODIM2015

38. AUDIENCE MATCH
@DistroDom - #PODIM2015

39. KEEP SCORE
@DistroDom - #PODIM2015

40. NEXT STEPS
@DistroDom - #PODIM2015

41. ITERATE
CONSTANTLY
@DistroDom - #PODIM2015

42. Vs. This Design
- Asked for email
and zip before live
- Had a <3% Email
Capture Rate
@DistroDom - #PODIM2015

43. RESULTS
<= 30% of visitors
entered their
zipcode
&
25 % of people
entered their
email =>
&
10% shared
@DistroDom - #PODIM2015

44. AN EXAMPLE FROM LAST WEEK
@DistroDom - #PODIM2015

45. ADD TO BOX
@DistroDom - #PODIM2015

46. “TYPICAL” PRODUCT WAY
BUILD a New
Feature Called
“Add To Box”
(~2 Weeks)
PLAN a New
Feature Called
“Add To Box”
(~1 Week)
TEST &
RELEASE
a New Feature
Called “Add To
Box”
(~1 Week)
ONE MONTH POTENTIALLY WASTED
@DistroDom - #PODIM2015

47. “TYPICAL” PRODUCT WAY
LAUNCH
(THAT DAY)
PLAN
IDEA =>
HACK
(~1 hour)
MAKE $$$$
BOoooOM
:)
And the RESULTS….
@DistroDom - #PODIM2015

48. FIRE
● 9.55% of Active Subs converted
● Overall monthly gross profit grew by
45% because of this feature
● Marginal gross profit per PijonBox, on
those boxes, grew over 357%.
@DistroDom - #PODIM2015

49. BUT EVEN IF WE LOST….
● Saved a month of dev time
● Learned about our customers
● FELT GOOD AS A TEAM
WE WOULD HAVE STILL WON!!
@DistroDom - #PODIM2015