The Mission Driven Startup
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This document discusses mission-driven startups. It defines mission-driven startups as those that build their culture, growth, values, metrics, and outcomes around their cause. It notes that while all startups solve problems, mission-driven ones see problems as epidemics and work to fundamentally improve entire industries. It emphasizes inspiring customers with the company mission to create evangelism, advocacy, and stories for customers to share. It also stresses the importance of mission-driven metrics like customer happiness and recommendations to measure success.
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The Mission Driven Startup
- 2. @nilanp HOW BUILDING YOUR CULTURE
- 8. @nilanp
- 9. WHAT IS A MISSION DRIVEN STARTUP ?
- 10. WHAT IS A MISSION DRIVEN STARTUP ? MISSION DRIVEN GROWTH MISSION DRIVEN VALUES MISSION DRIVEN CULTURE MISSION DRIVEN METRICS MISSION DRIVEN OUTCOMES
- 11. DEFINITION
- 12. ALL STARTUPS START BY SOLVING A PROBLEM
- 13. TRANSFERWISE WAS STARTED TO SOLVE A PROBLEM @nilanp@nilanp
- 14. 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
- 15. @nilanp PROVE IT
- 16. @nilanp “We will ask the FCA to ensure that nobody uses misleading terms such as ‘free’ and ‘0% commission’ when fees are hidden in the rates being charged”
- 18. @nilanp
- 19. @nilanp WHY DO WE NEED TO GO TO SUCH EXTREMES ?
- 20. @nilanp A BANK COULD HAVE STARTED TRANSFERWISE AT ANY POINT IN THE LAST 100 YEARS @nilanp
- 21. @nilanp BUILDING TRUST IN AN INDUSTRY THAT HAS SYSTEMICALLY ERODED IT REQUIRES EXTREMES @nilanp
- 22. @nilanp
- 23. @nilanp
- 25. @nilanp EVANGELISM IS THE BIGGEST DRIVER OF GROWTH
- 26. WE BELIEVE WE CAN CREATE EVANGELICAL CUSTOMERS
- 27. SO WHY DO PEOPLE RECOMMEND OUR PRODUCT ?
- 31. TO ACHIEVE ADVOCACY YOUR PRODUCT NEEDS TO BE AN ORDER OF MAGNITUDE BETTER THAN THE ALTERNATIVE
- 32. BUT DON’T DO THIS AS “GROWTH HACK” DO IT BECAUSE THE WORLD DESERVES IT
- 34. @nilanp PEOPLE DO NOT TALK ABOUT MONEY TRANSFER IN THE PUB @nilanp
- 35. @nilanp GIVE YOUR CUSTOMERS STORIES TO TELL @nilanp
- 38. @nilanp INSPIRE PEOPLE WITH YOUR CAUSE AND YOU WILL CREATE A MOVEMENT BIGGER THAN YOUR STARTUP @nilanp
- 41. You can’t copy that !
- 43. @nilanp OBJECTIVE : INSPIRE PEOPLE WITH THE MISSION
- 44. @nilanp
- 45. WE WORK IN AUTONOMOUS INDEPENDENT TEAMS THAT FOCUS ON KPIS THAT MAKE A DIFFERENCE TO OUR CUSTOMERS AND DRIVE OUR GROWTH @nilanp@nilanp
- 46. @nilanp THE CURRENCIES TEAM WORKS ON LAUNCHING NEW CURRENCIES @nilanp
- 47. @nilanp IT IS AUTONOMOUS & INDEPENDENT @nilanp
- 48. Currencies Operations Verification Conversion Experience Virality Marketing @nilanp
- 49. MISSION DRIVEN VALUES : CUSTOMERS > TEAM > EGO
- 50. @nilanp
- 52. @nilanp EVERY PART OF THE PRODUCT IS OWNED
- 53. @nilanp ANY TEAM CAN CHANGE ANY PART OF THE PRODUCT
- 54. @nilanp@nilanp
- 56. WHAT HAPPENS WHEN YOU HAVE DISAGREEMENTS ?
- 59. TITLE TEXT @nilanp FOCUS ON CUSTOMERS
- 63. MISSION DRIVEN METRICS - NPS
- 64. Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters
- 65. Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters Total Promoters - Detractors = NPS
- 71. If promoters > detractors you WILL grow
- 72. N.B. This is fucking hard.
- 73. It works ! (But barely)
- 74. It works ! (But barely) It works with no significant issues !
- 75. It works ! (But barely) It works with no significant issues ! It works. Wow that was slick
- 76. 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
- 79. ONWARDS @nilanp