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Meet Barry, the
amazing founder
of Avocado Co.
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Meet Barry, the
amazing founder
of Avocado Co.
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Meet Barry, the
amazing founder
of Avocado Co.
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Meet Marta, the
amazing founder
of Banana Co.
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Meet Marta, the
amazing founder
of Banana Co.
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Meet Marta, the
amazing founder
of Banana Co.
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While these two stories are
fictionalised, they’re a good
example of the sorts of
challenges I come across
every day.
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@andybudd
I’m Andy, a design
and product leader
turned investor,
advisor and coach.
Hello Edinburgh,
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I help founders figure out
their GTM strategy, find
early clients and iterate
towards PMF.
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Product - Market Fit
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Product - Market Fit
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Language - Market Fit
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Product - Market Fit
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Product - Market Fit
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Finding PMF Growth
PMF
X
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0 to 1
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These strategies work for
everybody launching a new
product of service.
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A lot of the growth advice
I see out there is already
assuming
you have
PMF.
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A guide to help
early stage
startup founders
land their first
million and
reach PMF
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Over the years I’ve spotted
a number of patterns which
tend to trip people up.
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
7 elements which majorly impact growth.
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The Growth Equation isn’t
definitive. There are
hundreds of things which
can affect growth.
Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
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However almost all the
growth problems I see
ultimately relate to one of
these seven.
Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
}
}
The Market part of Product-Market Fit
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
A= Audience
Specifically having a larger enough audience who have the problem
your product solves, are aware they have the problem and are aware
that your product exists and solves that problem.
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
M= Motivation
How motivated your audience is to find a solution.
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
C= Competition
How strong the competitive landscape is.
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Many founders fail at the
market side of PMF
because they believe the
best product always wins.
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The Field of Dreams Fallacy
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When acquisition falls flat,
the temptation is to add
more features—sometimes
described as The Next
Feature Fallacy.
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What are some of the
things Barry can do to
solve his market problem?
Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
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1. Find the right beachhead
2. Nail the proposition
3. Pick the right channel
4. Founder-led growth
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1. Find the right beachhead
2. Nail the proposition
3. Pick the right channel
4. Founder-led growth
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1. Find the right beachhead
2. Nail the proposition
3. Pick the right channel
4. Founder-led growth
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1. Find the right beachhead
2. Nail the proposition
3. Pick the right channel
4. Founder-led growth
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1. Find the right beachhead
2. Nail the proposition
3. Pick the right channel
4. Founder-led growth
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
}
}
The Product part of Product-Market Fit
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
ΔV/t= Value delivery over time
How quickly your product can start delivering value (TTV) and how
constantly can it keep delivering value over time.
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
S = Stickiness
Your products ability to work it’s way into your customers daily lives
and have them keep coming back for more.
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
ΔV/t= Value delivery over time
How quickly your product can start delivering value (TTV) and how
constantly can it keep delivering value over time.
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`
`
Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
ΔV/t= Value delivery over time
How quickly your product can start delivering value (TTV) and how
constantly can it keep delivering value over time.
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What can Marta do to solve
her product adoption
problem?
Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
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1. Align positioning
2. Nail user onboarding
3. Remove friction
4. Embed usage loops
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1. Align positioning
2. Nail user onboarding
3. Remove friction
4. Embed usage loops
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1. Align positioning
2. Nail user onboarding
3. Remove friction
4. Embed usage loops
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1. Align positioning
2. Nail user onboarding
3. Remove friction
4. Embed usage loops
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1. Align positioning
2. Nail user onboarding
3. Remove friction
4. Embed usage loops
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1. Align positioning
2. Nail user onboarding
3. Remove friction
4. Embed usage loops
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1. Align positioning
2. Nail user onboarding
3. Remove friction
4. Embed usage loops
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1. Align positioning
2. Nail user onboarding
3. Remove friction
4. Embed usage loops
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1. Align positioning
2. Nail user onboarding
3. Remove friction
4. Embed usage loops
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1. Align positioning
2. Nail user onboarding
3. Remove friction
4. Embed usage loops
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Designers play a vital role in
nailing Product-Market Fit.
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I regularly advise startups
to have growth teams and
feature teams.
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
K = Virality
Your products ability to generate new users through word of mouth
marketing, referrals and most importantly, natural use.
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
K = Virality
Your products ability to generate new users through word of mouth
marketing, referrals and most importantly, natural use.
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I’m a huge fan of Product
Led Growth. Just remember
that PLG only works if you
already have users.
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Even the most viral
products need a kick start
of users, which typically
comes from founder-led
sales and marketing.
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1. Launch
2. GTM PMF
3. Profit
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Growth = ƒ[(A, M, ΔV/t, S, K) / (μ, C)]
The Growth Equation
}
7 elements which majorly impact growth.
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@andybudd
Design Leader . Investor . Advisor . Coach
Join the book waitlist
thegrowthequation.info