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@nilanp
Growing fast…
…growing people
@nilanp
1. Growth at TransferWise
2. 5 steps to replicate this in your
organisation
@nilanp @cataflu
@nilanp
1. Growth at TransferWise
2. 5 steps to replicate this in your
organisation
TransferWise was started
to solve a problem
@nilanp@nilanp
What is TransferWise
What is borderless
@nilanp @cataflu
Moving more than
£3 Billion per month
@nilanp @cataflu
Saving our customer more
than £3m per day
30 price drops in the last 9
months
@nilanp @cataflu
Over 4m customers worldwide
@nilanp @cataflu
Over 2m debit card
transactions + over £2bn in
deposits
@nilanp @cataflu
> 1,400 people
@nilanp @cataflu
@nilanp @cataflu
Profitable for 2 years
@nilanp @cataflu
Evangelism is the biggest
driver of growth
Why do people recommend our
product ?
@nilanp
Would you recommend us to
your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
@nilanp
Would you recommend us to
your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
Total
Promoters - Detrac...
@nilanp
The NPS Richter scale
@nilanp
1 2 3 4 5 6 7 8 9 10
@nilanp
If promoters >
detractors you WILL
grow
@nilanp
N.B. This is hard.
It works !
(But barely)
It works !
(But barely)
It works with
no significant
issues !
It works !
(But barely)
It works with
no 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 ...
RATIONalRational Emotional
RATIONalProduct Mission
RATIONal
Speed
Price
Convenience
Coverage
Mission
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 its the right thing to do
RATIONal
Speed
Price
Convenience
Coverage
Mission
You can’t copy
that !
@nilanp
1. Growth at TransferWise
2. 5 steps to replicate this in your
organisation
Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People G...
Money without borders.
Instant, convenient, transparent
and eventually free
We’re powering money for people and businesses...
We are
a Mission Driven
Startup
@nilanp @cataflu
A mission driven
organisation is…
…is a catalyst for
achieving a change
In the world
@nilanp @cataflu
Find your mission
@nilanp @cataflu
It starts by being
customer led
@nilanp @cataflu
Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People G...
RATIONal
Make
customers
happy
RATIONal
Make
customers
happy
Make
money
RATIONal
Make
money
RATIONal
Make customers
happy
sustainably
Have one list
But how do you explain this to
shareholders ?
@nilanp
@nilanp
Customer led
Growth
@nilanp
Customer led
Growth
Create a huge
amount of value
@nilanp
Customer led
Growth
Create a huge
amount of value
Capture less
than you create
@nilanp
Customer led
Growth
Create a huge
amount of value
Capture less
than you create
Create a huge
amount of good
will
@nilanp
Customer led
Growth
Create a huge
amount of value
Capture less
than you create
Create a huge
amount of good
will
W...
Price
Price Demand
Revenue
Price Demand
Generating a consumer surplus that
turns into goodwill
@nilanp
Creating a barrier to entry
@nilanp
Retro-fitting MBA speak on what is
the right thing to do
@nilanp
Practically - how do I do that at my
business.
@nilanp
1. Define a problem you are solving
@nilanp
2. Define a KPI to measure progress
@nilanp
3. Try and move it
@nilanp
4. Congratulations you’ve built a
product !
@nilanp
5. Now how to build a 10x product ?
@nilanp
How to build something that is 10x
better than anything else in the
market ?
@nilanp
Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People G...
How to build something that is 10x
better than anything else in the
market ?
@nilanp
Build something that doesn’t exist
@nilanp
Build something that you don’t know
could ever exist
@nilanp
If you aren’t in a perpetual state of
existential crisis…
…you aren’t trying hard enough
@nilanp
No team at TransferWise tests
changing button colours
@nilanp
Building conviction:
The art of product
management
Virility plan or test all the things
= YOU DON’T KNOW WHAT YOUR
CUSTOMERS WANT
@nilanp
Singapore
@nilanp @cataflu
Bank of England
@nilanp
Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People G...
SPEEEEEEEEEEEEEEEEEEEEEEEEED
@nilanp
Our growth is limited by the rate…
…we solve customer problems
@nilanp @cataflu
Our growth is limited by the rate…
…we move product KPIs
@nilanp @cataflu
Our growth is limited by the rate…
…we hire people
@nilanp @cataflu
Our growth is limited by the rate…
…we onboard them
@nilanp @cataflu
Our growth is limited by the rate…
…we build their confidence
@nilanp @cataflu
Our growth is limited by the rate…
…we build their conviction
@nilanp @cataflu
Our growth is limited by the rate…
…we build their impact on the
mission
@nilanp @cataflu
Product growth = People growth
@nilanp @cataflu
Man… growth is a psychologist’s
problem
@nilanp @cataflu
Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People G...
Autonomous
independent teams that focus
on KPIs that make a
difference to customers and
drive growth
@nilanp
Autonomous
independent teams that focus
on KPIs that make a
difference to customers and
drive growth
@nilanp
Regulated
and...
Autonomous
independent teams that focus
on KPIs that make a
difference to customers and
drive growth
@nilanp
Currencies Op...
We have over 1,500 people working
in autonomous teams today in offices
from Singapore to New York
@nilanp @cataflu
Some things work great
@nilanp @cataflu
… we’ve still got some stuff to figure
out
@nilanp @cataflu
WIP
Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People G...
@nilanp
Onwards
Mind the Product Engage Manchester
Mind the Product Engage Manchester
Mind the Product Engage Manchester
Mind the Product Engage Manchester
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Mind the Product Engage Manchester

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Product Growth = People growth

How TransferWise has grown to be the market lead in cross border transfers and how you can replicate this in your company / startup / team

Published in: Internet
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Mind the Product Engage Manchester

  1. 1. @nilanp Growing fast… …growing people
  2. 2. @nilanp 1. Growth at TransferWise 2. 5 steps to replicate this in your organisation
  3. 3. @nilanp @cataflu
  4. 4. @nilanp 1. Growth at TransferWise 2. 5 steps to replicate this in your organisation
  5. 5. TransferWise was started to solve a problem @nilanp@nilanp
  6. 6. What is TransferWise What is borderless
  7. 7. @nilanp @cataflu Moving more than £3 Billion per month
  8. 8. @nilanp @cataflu Saving our customer more than £3m per day 30 price drops in the last 9 months
  9. 9. @nilanp @cataflu Over 4m customers worldwide
  10. 10. @nilanp @cataflu Over 2m debit card transactions + over £2bn in deposits
  11. 11. @nilanp @cataflu > 1,400 people
  12. 12. @nilanp @cataflu
  13. 13. @nilanp @cataflu Profitable for 2 years
  14. 14. @nilanp @cataflu Evangelism is the biggest driver of growth
  15. 15. Why do people recommend our product ?
  16. 16. @nilanp Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters
  17. 17. @nilanp Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters Total Promoters - Detractors = NPS
  18. 18. @nilanp The NPS Richter scale
  19. 19. @nilanp 1 2 3 4 5 6 7 8 9 10
  20. 20. @nilanp If promoters > detractors you WILL grow
  21. 21. @nilanp N.B. This is hard.
  22. 22. It works ! (But barely)
  23. 23. It works ! (But barely) It works with no significant issues !
  24. 24. It works ! (But barely) It works with no significant issues ! It works. Wow that was slick
  25. 25. 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 incredible
  26. 26. RATIONalRational Emotional
  27. 27. RATIONalProduct Mission
  28. 28. RATIONal Speed Price Convenience Coverage Mission
  29. 29. To achieve advocacy your product needs to be an order of magnitude better than the alternative
  30. 30. But don’t do this as “growth hack” do it because its the right thing to do
  31. 31. RATIONal Speed Price Convenience Coverage Mission
  32. 32. You can’t copy that !
  33. 33. @nilanp 1. Growth at TransferWise 2. 5 steps to replicate this in your organisation
  34. 34. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  35. 35. Money without borders. Instant, convenient, transparent and eventually free We’re powering money for people and businesses: to pay, to get paid, to spend, in any currency, wherever you are, whatever you’re doing
  36. 36. We are a Mission Driven Startup @nilanp @cataflu
  37. 37. A mission driven organisation is… …is a catalyst for achieving a change In the world @nilanp @cataflu
  38. 38. Find your mission @nilanp @cataflu
  39. 39. It starts by being customer led @nilanp @cataflu
  40. 40. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  41. 41. RATIONal Make customers happy
  42. 42. RATIONal Make customers happy Make money
  43. 43. RATIONal Make money
  44. 44. RATIONal Make customers happy sustainably
  45. 45. Have one list
  46. 46. But how do you explain this to shareholders ? @nilanp
  47. 47. @nilanp Customer led Growth
  48. 48. @nilanp Customer led Growth Create a huge amount of value
  49. 49. @nilanp Customer led Growth Create a huge amount of value Capture less than you create
  50. 50. @nilanp Customer led Growth Create a huge amount of value Capture less than you create Create a huge amount of good will
  51. 51. @nilanp Customer led Growth Create a huge amount of value Capture less than you create Create a huge amount of good will Word of mouth growth
  52. 52. Price
  53. 53. Price Demand
  54. 54. Revenue Price Demand
  55. 55. Generating a consumer surplus that turns into goodwill @nilanp
  56. 56. Creating a barrier to entry @nilanp
  57. 57. Retro-fitting MBA speak on what is the right thing to do @nilanp
  58. 58. Practically - how do I do that at my business. @nilanp
  59. 59. 1. Define a problem you are solving @nilanp
  60. 60. 2. Define a KPI to measure progress @nilanp
  61. 61. 3. Try and move it @nilanp
  62. 62. 4. Congratulations you’ve built a product ! @nilanp
  63. 63. 5. Now how to build a 10x product ? @nilanp
  64. 64. How to build something that is 10x better than anything else in the market ? @nilanp
  65. 65. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  66. 66. How to build something that is 10x better than anything else in the market ? @nilanp
  67. 67. Build something that doesn’t exist @nilanp
  68. 68. Build something that you don’t know could ever exist @nilanp
  69. 69. If you aren’t in a perpetual state of existential crisis… …you aren’t trying hard enough @nilanp
  70. 70. No team at TransferWise tests changing button colours @nilanp
  71. 71. Building conviction: The art of product management
  72. 72. Virility plan or test all the things
  73. 73. = YOU DON’T KNOW WHAT YOUR CUSTOMERS WANT
  74. 74. @nilanp Singapore
  75. 75. @nilanp @cataflu Bank of England @nilanp
  76. 76. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  77. 77. SPEEEEEEEEEEEEEEEEEEEEEEEEED @nilanp
  78. 78. Our growth is limited by the rate… …we solve customer problems @nilanp @cataflu
  79. 79. Our growth is limited by the rate… …we move product KPIs @nilanp @cataflu
  80. 80. Our growth is limited by the rate… …we hire people @nilanp @cataflu
  81. 81. Our growth is limited by the rate… …we onboard them @nilanp @cataflu
  82. 82. Our growth is limited by the rate… …we build their confidence @nilanp @cataflu
  83. 83. Our growth is limited by the rate… …we build their conviction @nilanp @cataflu
  84. 84. Our growth is limited by the rate… …we build their impact on the mission @nilanp @cataflu
  85. 85. Product growth = People growth @nilanp @cataflu
  86. 86. Man… growth is a psychologist’s problem @nilanp @cataflu
  87. 87. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  88. 88. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp
  89. 89. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp Regulated and available Instantly and almost zero cost IdentityOnboarding Worry Evangelism Problem awareness
  90. 90. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp Currencies OperationsVerificationConversion Experience ViralityMarketing Regulated and available Instantly and almost zero cost IdentityOnboarding Worry Evangelism Problem awareness
  91. 91. We have over 1,500 people working in autonomous teams today in offices from Singapore to New York @nilanp @cataflu
  92. 92. Some things work great @nilanp @cataflu
  93. 93. … we’ve still got some stuff to figure out @nilanp @cataflu
  94. 94. WIP
  95. 95. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  96. 96. @nilanp Onwards

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