Download - The Mission Driven Startup
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@nilanp
THE MISSION DRIVEN STARTUP
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@nilanp
HOW BUILDING YOUR CULTURE AROUND A CAUSE
CAN CREATE A PRODUCT WHICH GROWS ITSELF
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@nilanp
+ A FEW GROWTH HACKS
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FIRST INTRODUCTIONS
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@nilanp
INTROS
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WTF IS ONE ANYWAY ?
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A MISSION DRIVEN STARTUP IS A CATALYST FOR CHANGING THE
WORLD
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TRANSFERWISE WAS STARTED TO SOLVE A PROBLEM
@nilanp@nilanp
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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
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@nilanp
A BANK COULD HAVE STARTED TRANSFERWISE AT ANY POINT IN THE
LAST 100 YEARS
@nilanp
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GROWTH
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@nilanp
£0.5 MILLION ➤ £0.5 BILLION
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@nilanp
60 TRANSFERWISERS ➤ 600 TRANSFERWISERS
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@nilanp
EVANGELISM IS THE BIGGEST DRIVER OF GROWTH
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WE BELIEVE WE CAN CREATE EVANGELICAL CUSTOMERS
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SO WHY DO PEOPLE RECOMMEND OUR PRODUCT ?
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RATIONALRATIONAL EMOTIONAL
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RATIONALPRODUCT BRAND
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RATIONALSPEED CONVENIENCE PRICE COVERAGE
BRAND
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TO ACHIEVE ADVOCACY YOUR PRODUCT NEEDS TO BE AN ORDER OF MAGNITUDE
BETTER THAN THE ALTERNATIVE
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BUT DON’T DO THIS AS “GROWTH HACK” DO IT BECAUSE THE WORLD
DESERVES IT
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RATIONALSPEED CONVENIENCE PRICE COVERAGE
BRAND
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@nilanp
PEOPLE DO NOT TALK ABOUT MONEY TRANSFER IN THE PUB
@nilanp
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@nilanp
GIVE YOUR CUSTOMERS STORIES TO TELL
@nilanp
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@nilanp
INSPIRE PEOPLE WITH YOUR CAUSE AND YOU WILL CREATE A MOVEMENT BIGGER
THAN YOUR STARTUP
@nilanp
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You can’t copy that !
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CULTURE
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WE WORK IN AUTONOMOUS INDEPENDENT TEAMS THAT
FOCUS ON KPIS THAT MAKE A DIFFERENCE TO OUR
CUSTOMERS AND DRIVE OUR GROWTH
@nilanp@nilanp
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@nilanp
THE CURRENCIES TEAM WORKS ON LAUNCHING NEW CURRENCIES
@nilanp
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@nilanp
IT IS AUTONOMOUS & INDEPENDENT
@nilanp
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Currencies Operations Verification Conversion Experience Virality Marketing
@nilanp
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@nilanp
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METRICS - NPS
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Would you recommend us to your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
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Would you recommend us to your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
Total
Promoters - Detractors
= NPS
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If promoters > detractors you WILL
grow
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N.B. This is fucking hard.
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It works ! (But barely)
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It works ! (But barely)
It works withno significant issues !
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It works ! (But barely)
It works withno significant issues !
It works. Wow that was slick
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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
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This usually involves creating something
THAT DOES NOT EXIST
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TRADE OFFS
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TRADE OFFS
- Consistency
- Efficiency
- Singularity of vision
- Swiftness of collective decision making
- Ownership
- Speed
- Agility
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ONWARDS@nilanp
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3 GROWTH HACKS FOR EARLY STAGE STARTUPS
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@nilanp
1. FIND YOUR PRODUCT LEVER
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Supply was the biggest growth lever at HouseTrip
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Facebook’s news feed optimises for engagement
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@nilanp
2. BUILD ACQUISITION INTO YOUR PRODUCT
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@nilanp
3. USE MARKETING TO AMPLIFY YOUR PRODUCT
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Focus
=
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@nilanp
TITLE TEXT
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@nilanp
1. FIND YOUR SCALING LEVERS 2. BUILD ACQUISITION INTO
YOUR PRODUCT 3. ADD MARKETING
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ONWARDS@nilanp