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The Funnel

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Avatar for Chris Armstrong Chris Armstrong
February 01, 2016
Business
56
0

The Funnel

How to turn your side project into a business in 1,234,567 easy steps.

Avatar for Chris Armstrong

Chris Armstrong

February 01, 2016

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Transcript

  1. HOW TO TURN YOUR SIDE PROJECT INTO A BUSINESS IN

    1,234,567 EASY STEPS The Funnel
  2. None

  3. Slack for design teams.

  4. UNFORTUNATELY… There’s more to business than a good product.

  5. None

  6. 600+ CUSTOMERS

  7. 55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS

    4.5% 3.2% -6% -18% -?% 9% 20% 5.8% SEPTEMBER 2015

  8. 55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS

    4.5% 3.2% -6% -18% -?% 9% 20% 5.8% SEPTEMBER 2015

  9. 55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS

    4.5% 3.2% -6% -18% -?% 9% 20% 5.8% SEPTEMBER 2015

  10. 55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS

    4.5% 3.2% -6% -18% -?% 9% 20% 5.8% SEPTEMBER 2015

  11. INCREASE Visitors Users Customers REDUCE Churn

  12. Visitors Make something interesting

  13. STEP 1 Make something worth sharing

  14. None

  15. 150K VISITORS IN 1ST TWO MONTHS NIICE.CO

  16. 150K VISITORS IN 1ST TWO MONTHS NIICE.CO

  17. 150K VISITORS IN 1ST TWO MONTHS NIICE.CO

  18. 150K VISITORS IN 1ST TWO MONTHS NIICE.CO

  19. None

  20. 60 VISITORS IN 1ST TWO MONTHS YOMOMMA.SO

  21. 150K VISITORS IN 1ST TWO MONTHS NIICE.CO

  22. PEOPLE SHARE STUFF THAT’S New & Interesting

  23. None

  24. 20K VISITORS

  25. 20K VISITORS 10K VISITORS

  26. 1.36 downloads in one day 5.5K total downloads 717 downloads

    in one day 7K total downloads

  27. OTHER CHANNELS Partnerships Referrals Paid ads

  28. What’s your story?

  29. FIGURE OUT What works for you

  30. Users Make something useful

  31. Research Track everything, talk to everyone

  32. Qualitative Research Collecting perspectives

  33. What the world needs

  34. What you want to create What the world needs

  35. What you want to create What the world needs What

    you can afford
  36. None

  37. Quantitative Research Tells you what has happened

  38. Qualitative = Stories

  39. Qualitative Quantitative = Stories = Data

  40. Qualitative Quantitative = Insight +

  41. Product Qual Quant

  42. 55K 7.6K 63 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTO

    4.5% 3.2% -6% -18% -?% 9% 20% 5.

  43. 55K 7.6K 63 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTO

    4.5% 3.2% -6% -18% -?% 9% 20% 5.

  44. 55K 7.6K 63 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTO

    4.5% 3.2% -6% -18% -?% 9% 20% 5.

  45. Customers Make something valuable

  46. Do it as soon as you can. CHARGING IS SCARY

  47. None
  48. None
  49. None

  50. Customer feedback > User feedback

  51. Useful Valuable

  52. Useful Valuable Keep this free

  53. Useful Valuable Keep this free Charge for this

  54. Design VS Sales

  55. PRODUCT PROBLEM Design

  56. Sales PRODUCT PROBLEM

  57. 55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS

    4.5% 3.2% -6% -18% -?% 9% 20% 5.8%

  58. 55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS

    4.5% 3.2% -6% -18% -?% 9% 20% 5.8%

  59. Churn Make something ‘sticky’

  60. 55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS

    4.5% 3.2% -6% -18% -?% 9% 20% 5.8%

  61. TYPES OF CHURN Faders Failures Blitzers Bailers

  62. Churned feedback > Customer feedback > User feedback

  63. None

  64. TYPES OF CHURN Faders Failures Blitzers Bailers

  65. 55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS

    4.5% 3.2% -6% -18% -?% 9% 20% 5.8%

  66. Big picture Low hanging fruit Bugs & Polish Marketing Our

    Roadmap

  67. Big picture Low hanging fruit Bugs & Polish Marketing Our

    Roadmap

  68. Visitors Users Customers Churn = Interesting = Useful = Valuable

    = Sticky (PROTOTYPE)

  69. Visitors Users Customers Churn = Interesting = Useful = Valuable

    = Sticky (SIDE PROJECT)

  70. Visitors Users Customers Churn = Interesting = Useful = Valuable

    = Sticky (BUSINESS)

  71. Visitors Users Customers Churn = Interesting = Useful = Valuable

    = Sticky (SUSTAINABLE BUSINESS)

  72. @armstrong That’s all folks!