Growth Snack: Can you win with a “me too” product?
How TripActions’ Breakout Growth Disrupted the $1.5 Trillion Corporate Travel Industry
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Principles of Sustainable Growth
- Dial-in the ‘Must-Have’ Experience
- The foundation of growth is product/market fit, so before trying to scale, optimize the “must-have” experience where users try, use, love, and keep using your product.
- Quantify Improvements with a North Star Metric
- You can’t improve what you can’t measure, and a North Star Metric is the single best tool for consistently measuring value delivery for end-users.
- Diagram your Value Delivery Engine
- To find high-impact opportunities to accelerate your North Star Metric build a detailed diagram that completely defines how users experience your product from acquisition to retention.
- Experiment to Accelerate Learnings
- Fast-growing companies use the scientific method to power test/learn cycles. Build a flywheel effect where tested hypotheses turn ideas into facts and captured learnings drive each decision.
- Align Teams with a Shared Mission
- Fight silos within your organization; they impede success. Cross-functional team alignment with a shared mission fosters the mindset and culture of sustained expansion.
- Optimize for Speed-to-Value
Find the shortest distance from the promise you make to prospects to the must-have experience you deliver to users. More users finding aha moments is the key to retention and referrals.
- Build Brand Through Experiences
Brand awareness is built on authentic brand experiences. When you delight users with every interaction brand advocacy emerges as a powerful force for growth.
- Place Principles Before Profits
Advocate for your customers at every turn and treat them as you would want to be treated. Sustainable growth is principled growth. Short-sighted tricks are not growth hacks.
The Growth Pyramid
About Breakout Growth
We are Sean Ellis & Ethan Garr. We have led breakout growth at companies like Dropbox, LogMeIn, and RoboKiller and our goal is to share learnings from the world’s fastest-growing companies as actionable insights to accelerate the growth of your business.
If you are working on a tech business with at least $1M in revenue and would like to speak with us about your growth challenges, request a session:
Notable Growth Interviews, Commentaries, and Guest Posts