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How to 10X Your Traction (500Startups)

Ilya Lichtenstein
June 04, 2013
110

How to 10X Your Traction (500Startups)

Talk at 500 Startups about scaling rapidly and accelerating growth once you have initial product/market fit.
Video: http://new.livestream.com/500SAcc/events/2153257

Ilya Lichtenstein

June 04, 2013
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Transcript

  1. HOW  TO  10X   YOUR  TRACTION   500  STARTUPS  

    JUNE  4,  2013   ILYA  LICHTENSTEIN   COFOUNDER,    
  2. ABOUT  ME   •  2006:  SEO  FAIL   •  2007-­‐2011:

     Affiliate  markeKng   •  2011-­‐  MixRank  
  3. WHEN  IS  THE  RIGHT  TIME  TO  GROW?   •  When

     you  have  iniKal  Product/Market  Fit   •  When  you  understand  key  metrics   •  When  the  numbers  make  sense   •  When  organic  demand  matches  your  roadmap   •  When  you  see  opportuniKes  to  scale  
  4. •  There  will  always  be  product  problems   •  Are

     there  some  people  who  want  what  you’re   making  badly  enough?   •  You  cannot  create  demand   •  Growth  hacking  accelerates  exisKng  processes   GROWTH  PROBLEMS  VS  PRODUCT  PROBLEMS  
  5. THE  GROWTH  PROCESS   QUALIFY   your  best  users  

    IDENTIFY   where  they  go   online   ACCESS   distribuKon   channels   AUTOMATE   exisKng   processes  
  6. QUALIFY   •  PredicKve  metrics  for  revenue  poten+al   • 

    More  than  engagement   •  First-­‐party  data:  analyKcs   •  Third-­‐party  data:  append   •  Track  cross-­‐channel  acKvity   •  Cohort  analysis  
  7. IDENTIFY   •  Psychographics  >  demographics   •  Find  adjacent

     markets   •  What  are  they  talking  about?   •  Where  do  they  spend  their  Kme?   •  Who  is  markeKng  to  them  now?  
  8. ACCESS   TRAFFIC  QUALITY  IS  EVERYTHING   •  HIGH  moneKzaKon

     potenKal   •  HIGH  share  of  voice   •  LOW  overlap  with  exisKng  audiences   •  LOW  opportunity  cost  to  test  
  9. AUTOMATE   •  Anyone  on  your  team  can  be  a

     growth  hacker   •  Explore  non-­‐technology  soluKons   •  Avoid  building  from  scratch   •  Does  it  scale?