Growth Toolkit
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Growth Toolkit
Ross McKegneyAugust 2012
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About me.MBA, Rotman SchoolMSc, Software Engineering, Queen's
2002-2008: product manager / architect, IBM R&D, WebSphere Commerce team.
Then a serial entrepreneur with companies in media and design. Currently CTO at Verold, the leading online collaborative platform for artists/designers of 3D assets (gaming and animation). Part-time professor at the UOIT business school.
Ross McKegney@rossmckegney
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Growth Toolkit:Business Design
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Alex OsterwalderBusiness Model Canvas.Your business, visually.
Great tool for gettingstakeholders on board,exploring alternatives,and communicating vision.
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Roger MartinAnalytical Thinkingvs Intuitive Thinking
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Jeanne LiedtkaMaking the design toolkitaccessible to managers
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Operations Toolkit:Customer Development
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How to find your business model
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Lean Startup MetricsEric Ries, Vanity Metrics vs Actionable Metricshttp://www.fourhourworkweek.com/blog/2009/05/19/vanity-metrics-vs-actionable-metrics/
Steve Blank, Metrics+http://steveblank.com/2009/12/17/building-a-company-with-customer-data-metrics-are-not-enough/
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e.g. User Base MetricsRegistrations (Customers who completed the registration process during the month)Activations (Customers who had activity 3 to 10 days after they registered. Measures only customers that registered during that month)Activation/Registrations %Retained 30+ DaysRetained 30+/ Total Actives %Retained 90+ DaysRetained 90+/Total Actives %Paying Customers (How many customers made $ purchases that month)Conversion rate: Paying/(Activations + Retained 30+)
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ForecastingYour forecast will be wrong, embrace that. But it is still an important exercise.
Once you have a plan in place for metrics, plug the numbers into a formula like:http://andrewchen.co/2009/01/19/how-to-create-a-profitable-freemium-startup-spreadsheet-model-included/
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Funnel, Users vs Customers
At a high level, there’s what is happening:● Each time period, a bunch of newly registered users come in (both
acquired through ads or through viral marketing)● Some % of these users convert into paying users● Some % of these users then send off viral invites● Revenue is generated by building up a base of paying users● Cost is generated through building up a base of active users
(paying or not!)
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StructuredBrainstorming
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GamestormingExcellent collectionof games/tools to makemeetings more effective.
Check out:gogamestorm.com
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Impact & effort:
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5Ws frameworkYour company is the ONLY ________
that __________for __________in _________who ___________in an era of ______________