Unlocking the secrets of growth

Talk by James Currier (Managing Partner, NFX Guild) at WMD 2016

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Unlocking the secrets of growth by Mind Map: Unlocking the secrets of growth

1. James Currier, Managing Partner, NFX Guild

1.1. @JamesCurrier

1.2. https://www.linkedin.com/in/jamescurrier

2. Not a fan of Paid Growth

2.1. It's a drug, warps your organisation & culture

2.2. Biggest companies never used paid acquisition

2.3. Free growth channels

2.3.1. Facebook

2.3.2. Twitter

2.3.3. Instagram

2.3.4. Android

2.3.5. Slack

2.3.6. Pinterest

2.3.7. Whatsapp

2.3.8. Mobile iOS

2.3.9. Very few channels left nowadays

2.4. Paid channels

2.4.1. Google SEM

2.4.2. Google Adsense

2.4.3. Facebook

2.4.4. Instagram

2.5. When is it best to use paid acquisition?

2.5.1. Higher LTV & B2B

2.5.2. Often needed with competition

2.5.3. Better than no growth

2.5.4. Can help move into market leadership if done right

2.6. Paid growth is now more necessary than ever

2.7. Fundraising is even more necessary than ever

3. Language is the foundation of growth

3.1. Start by thinking about the language that people are using to talk about what they want

3.2. Then think about what is the product that will fulfil the users' needs

3.3. It also changes the way YOU think about the product

3.4. Nobody knows what icons are, use visual language!

4. Make it about them, not about you

4.1. People don't care about your product, they care about themselves

4.2. Examples

4.2.1. 1. "Signing in with FB will make our app work better for you!" "Feeling lazy? Sign in with Facebook" 19% increase

4.2.2. 2. "232 new members joined this week!" "Another person who works at Google is now connected to you. See who it is." 36% increase

4.2.3. Airbnb makes it all about the user and their friends

5. Network effects

5.1. Turn your product into a network

5.2. Growth for products that have turned into a network

5.2.1. 30% new user growth

5.2.2. 100% retention

6. Speed

6.1. A startup has to move at a much faster pace than existing successful companies

6.2. You should run 20 - 100 experiments / month

6.3. Grow your business, not just your user base

7. Change the name of your company

7.1. Emode changed to Tickle, 60% growth

7.2. InfoSeek got killed because Yahoo had such a great name

7.3. WHY?

7.3.1. The name is exchanged

7.3.2. Creates virality, creates retention