A startup goes through three phases of growing: discover product-market fit, identify growth levers, and fueling the highest conversion growth levers
Broadly speaking, a startup goes through three phases of growing.
The goals, metrics, channels, focus, team structure, everything evolves and changes as you move through these three phases. Knowing where you are in this path helps you understand what you should be spending your time on. Focusing on the right tactics at the right time helps move you through this path efficiently and successfully.
No matter what your product is, you are ultimately in the education business. Your customers need to be constantly educated about the many advantages of doing business with you, trained to use your products more effectively, and taught how to make never-ending improvement in their lives.
As customers, what we crave more than the commodity we think we are paying for is to be understood.
What we want more than a reliable ride to our destination, a comfortable bed for the night, or even a book we can get our teeth into, is to really be seen.
What we want more than responsive organizations is personal relevance.
The value isn't just in the data that businesses collect. What counts is how they use it to make our lives better.
(...) in fact startups do have a different sort of DNA from other businesses. Google is not just a barbershop whose founders were unusually lucky and hard-working. Google was different from the beginning.
To grow rapidly, you need to make something you can sell to a big market. That's the difference between Google and a barbershop. A barbershop doesn't scale.
For a company to grow really big, it must:
(a) make something lots of people want, and
(b) reach and serve all those people.
Barbershops are doing fine in the (a) department. Almost everyone needs their hair cut. The problem for a barbershop, as for any retail establishment, is (b). A barbershop serves customers in person, and few will travel far for a haircut. And even if they did the barbershop couldn't accomodate them.
Writing software is a great way to solve (b), but you can still end up constrained in (a). If you write software to teach Tibetan to Hungarian speakers, you'll be able to reach most of the people who want it, but there won't be many of them. If you make software to teach English to Chinese speakers, however, you're in startup territory.
Most businesses are tightly constrained in (a) or (b). The distinctive feature of successful startups is that they're not.
We know that sentences are better than paragraphs. Two bullet points are better than five. Easy words are better than hard words. It's a bandwidth issue: The more we reduce the amount of information in an idea, the stickier it will be. Simple = core + compact Proverbs are helpful in guiding individual decisions in environments with shared standards. Those shared standards are often ethical or moral norms. Proverbs offer rules of thumb for the behavior of individuals. The Golden Rule, "Do unto others as you would have them do unto you," is so profound that it can influence a lifetime ...