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Tuning the Engine of Growth
Tuning the Engine of growth
What is
an engine of growth
? It’s A metaphor and a financial model
Approach
Identify key stages of relationship with customer
Measure customers at each stage
Analyze impact on financial model
Tune the engine
Download and take a look at
this simple financial model spreadsheet.
Key stages
Key stages…You don’t want all of these:
Visit: users come to the site from various channels
Repeat: come back to the site because they liked it.
Register: request a log in or register to become a user
Activate: actually activate their account (respond to an email)
Retain: come back at lease X times and use the site repeatedly
Refer: they refer their friends within X days
Pay: Actually send you money within X days
Abandon: Don’t log in aagain after X days
Cancel: Actually cancel their account
Measure
Which stage can you actually measure in your product or service?
Be very precise about the ones you decide to measure
You can’t/shouldn’t measure all of them
The ones that matter to you are the ones that tie in with your engine of growth
Model
How do you plan to make money or achieve your objectives?
Remember the different types of engines of growth
Sticky Engine of Growth (subscription)
Viral (users invite other users)
Paid (simple purchase, one shot)
Accessory (in product purchases)
Tune: Make changes, see the impact
Now that you know what you’re optimizing for
And you have a wy to see before and after
You can experiment and tune your engine
Welcome
2018 Syllabus
Calendar of Lectures and homeworks
Resources
Lectures
Pilot Project
Welcome!
Lean Startup
Hypotheses
Working on Teams
MVP
Guest Lecture: Michael Skok
Pilot Project Conclusion
Term Project: Startup
Welcome to Term Projects!
Build Measure Learn
Project Planning
The Pivot
The Engine of Growth
Mockups & Prototypes
Testing Techniques
Term Project: Product
Product Market Fit
Jeffrey Beir: Metrics
Business Models
Pricing Models
Andy Payne: Startup Finance
Intellectual Property
Term Project: Business
Finance for Geeks
Founding a company
Real World Survival Kit
Management and Leadership
Dulcie Madden: Startup Teams
Last day converstation
Term Project
Term Project Outline
Minimum Viable Product Info
Hypotheses
Final Presentations
Background
Learning Goals
Grading
Teachers
Lexicon
Interesting links
Credits and acknowledgements