Notes from Sean Ellis session on Growth Hacking organized by TPF for Insurjo ’22

work.jovin@gmail.com — Sat, 22 Oct 2022 07:52:29 +0000

The more you experiment with growth strategies the more you will grow

All growth-related experimentations are hypothesis-driven. Eg – If you do X, it will result in Y. In most cases, until you haven’t done any testing, you cannot prove, or disprove the hypothesis

In any case, if you test a growth strategy and it does not yield results, you will have learned a valuable lesson and if the test did work, you need to automate it and implement

Sustainable growth is what matters in the end. Sustainable growth is only possible if the product is actually providing some level of value to the end user. In short, Value is what drives sustainable growth

For the very reason above, Growth Hacking is most effective only when the product has achieved a product market fit

Acquisition → Activation →Referral loop →Revenue loop →Engagement loop

Every business should have a North-Star Metric (NSM). For some it may be Daily active users(DAU), for some it may be Monthly active users(MAU), NSM will be different and unique for different business. It should reflect and capture the entire business

Startup Growth Pyramid

Product Market Fit
North Star Metric Defined, Instrumented for Growth (EG – Proper Tracking in place)
Growth Team, Process, Organized learning
Align growth team for common goal, test around high impact opportunity
Company wide Growth mindset and culture

Examples of Growth hacking -Airbnb listing their rentals automatically on craigslist to drive direct traffic to their website, Dropbox Referral strategy where for every person you referred you get 250 MB of free space which was a lot back then

Some lessons from reading a lot of business books

work.jovin@gmail.com — Sun, 16 Oct 2022 07:31:36 +0000

In a good organization, people can focus on their work and have confidence that if they get their work done, good things will happen both for them and for the company
Shock is great mechanism for behavioral change
Simple can be harder than complex. You have to work hard to get your thinking clean to make it simple
Leaders who don’t listen will eventually be surrounded by people who have nothing to say
You can be more successful in two months by becoming really interested in other people’s success than you can in two years trying to get other people interested in your own success
Real networking is about finding ways to make other people more successful.
A goal is a dream with a deadline
There are two types of speakers: those that are nervous and those that are liars
Do what people are willing to pay for
Traits that define great work – Creativity, Impact, Control
You win or you break even. If you ask something and is declined that is not a loss, it’s at breakeven
If you can’t find/know the solution to the problem, it’s not a problem, you are just complaining
It is better to direct your actions towards a goal with an uncertain outcome than to experience the fear that arises from a life without purpose
It’s better to be a shitty player than to be a great spectator.
If you limit your goals to what you know you can achieve, you are setting the bar way too low
Don’t take criticism from someone whom you wouldn’t take advice
Biggest risk is to not take a risk
Everyone you will ever meet knows something you don’t
Unjustified criticism is a compliment in disguise
The problem with the rat race is that even if you win, you’re still a rat
In any job, you need to earn or you need to learn, it’s best if you can do both

Let me know your thoughts if any of the above resonated within you!

Hi, Jovin here

Notes from Sean Ellis session on Growth Hacking organized by TPF for Insurjo ’22

Some lessons from reading a lot of business books