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The Funnel
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Chris Armstrong
February 01, 2016
Business
0
44
The Funnel
How to turn your side project into a business in 1,234,567 easy steps.
Chris Armstrong
February 01, 2016
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Transcript
HOW TO TURN YOUR SIDE PROJECT INTO A BUSINESS IN
1,234,567 EASY STEPS The Funnel
None
Slack for design teams.
UNFORTUNATELY… There’s more to business than a good product.
None
600+ CUSTOMERS
55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS
4.5% 3.2% -6% -18% -?% 9% 20% 5.8% SEPTEMBER 2015
55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS
4.5% 3.2% -6% -18% -?% 9% 20% 5.8% SEPTEMBER 2015
55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS
4.5% 3.2% -6% -18% -?% 9% 20% 5.8% SEPTEMBER 2015
55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS
4.5% 3.2% -6% -18% -?% 9% 20% 5.8% SEPTEMBER 2015
INCREASE Visitors Users Customers REDUCE Churn
Visitors Make something interesting
STEP 1 Make something worth sharing
None
150K VISITORS IN 1ST TWO MONTHS NIICE.CO
150K VISITORS IN 1ST TWO MONTHS NIICE.CO
150K VISITORS IN 1ST TWO MONTHS NIICE.CO
150K VISITORS IN 1ST TWO MONTHS NIICE.CO
None
60 VISITORS IN 1ST TWO MONTHS YOMOMMA.SO
150K VISITORS IN 1ST TWO MONTHS NIICE.CO
PEOPLE SHARE STUFF THAT’S New & Interesting
None
20K VISITORS
20K VISITORS 10K VISITORS
1.36 downloads in one day 5.5K total downloads 717 downloads
in one day 7K total downloads
OTHER CHANNELS Partnerships Referrals Paid ads
What’s your story?
FIGURE OUT What works for you
Users Make something useful
Research Track everything, talk to everyone
Qualitative Research Collecting perspectives
What the world needs
What you want to create What the world needs
What you want to create What the world needs What
you can afford
None
Quantitative Research Tells you what has happened
Qualitative = Stories
Qualitative Quantitative = Stories = Data
Qualitative Quantitative = Insight +
Product Qual Quant
55K 7.6K 63 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTO
4.5% 3.2% -6% -18% -?% 9% 20% 5.
55K 7.6K 63 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTO
4.5% 3.2% -6% -18% -?% 9% 20% 5.
55K 7.6K 63 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTO
4.5% 3.2% -6% -18% -?% 9% 20% 5.
Customers Make something valuable
Do it as soon as you can. CHARGING IS SCARY
None
None
None
Customer feedback > User feedback
Useful Valuable
Useful Valuable Keep this free
Useful Valuable Keep this free Charge for this
Design VS Sales
PRODUCT PROBLEM Design
Sales PRODUCT PROBLEM
55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS
4.5% 3.2% -6% -18% -?% 9% 20% 5.8%
55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS
4.5% 3.2% -6% -18% -?% 9% 20% 5.8%
Churn Make something ‘sticky’
55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS
4.5% 3.2% -6% -18% -?% 9% 20% 5.8%
TYPES OF CHURN Faders Failures Blitzers Bailers
Churned feedback > Customer feedback > User feedback
None
TYPES OF CHURN Faders Failures Blitzers Bailers
55K 7.6K 634 VISITORS ACTIVE USERS SIGN UP UPGRADE CUSTOMERS
4.5% 3.2% -6% -18% -?% 9% 20% 5.8%
Big picture Low hanging fruit Bugs & Polish Marketing Our
Roadmap
Big picture Low hanging fruit Bugs & Polish Marketing Our
Roadmap
Visitors Users Customers Churn = Interesting = Useful = Valuable
= Sticky (PROTOTYPE)
Visitors Users Customers Churn = Interesting = Useful = Valuable
= Sticky (SIDE PROJECT)
Visitors Users Customers Churn = Interesting = Useful = Valuable
= Sticky (BUSINESS)
Visitors Users Customers Churn = Interesting = Useful = Valuable
= Sticky (SUSTAINABLE BUSINESS)
@armstrong That’s all folks!