“I firmly believe that every founder should try his hand at growth”
Your startup could Count on smart growth tactics to get off the ground, but you need more than spreadsheets if you want to turn viral spikes into a real business. You need a qualitative growth model to guide the strategy you can use to tell your story to your team and investors.
Growth Marketing Expert Susan Su caught up with us at TechCrunch Early Stage: Marketing and Fundraising this month to share tips for start-ups trying to raise funds after the initial market pull. In the presentation below, she Sets out a growth strategy from seed to Series A and B and details how your milestones, budgets, investor updates, and other metrics change as you go.
The not-so-secret secret here is that the key to good retention is really simple. It’s building a product that solves a real and most importantly persistent problem for people.
Throughout the process, “a qualitative model tell the history of growth this you can use at early steps and really all all along your business life cycle, ”she explains. “A quantitative model or quantitative growth accounting graphics the digital Classes for How? ‘Or’ What you in fact deliver against this story and bECOMES After relevant at later steps when you in fact to have real Numbers.
Formerly Strategic Growth Advisor for Businesses at Sound Ventures, Head of Startup Focused Growth Marketing at Stripe, and First Hire and Head of Growth at Reforge, Su just became a partner investing in climate technology for the Toba Capital start-up fund. She also writes a popular newsletter on climate investing and is running a six-week course for other investors on the topic.
Here is more information on growth and how to talk about it with investors, from his presentation:
So here is an example of a qualitative growth model that I built for one of our portfolio companies with some modifications for anonymity. At the bottom, we have our linear inputs that form the basis of consciousness – in other words, the traffic or leads that fuel our growth machine.
Once those leads arrive, we have our acquisition loops, working to transform that non-repeatable spiky linear traffic (aka TechCrunch traffic, if you’re lucky enough to be written in TechCrunch) into scalable, repeatable acquisition. You cannot repeat the TechCrunch effect.
For this business example, I happened to specify five different acquisition loops – I was really ambitious. Many companies will have difficulty identifying this number. But the key to being able to scale is to have multiple viable acquisition loops, not just one thing that works.