GrowHack Meetup with Nabeel Hyatt03 Apr 2013
The best way I’ve seen someone fill in an empty front row before a presentation? Offer free copies of your book. People were practically jumping over chairs - and mind you the book hasn’t even been published yet. Good one, Mattan.
Get everyone rowing in the right direction
OKRs - objectives & key results -the objective is the mission. It’s subjective, not a number. It’s why we are doing what we’re doing. Goals are public or not at all. -KRs are the measurement for reaching the mission. All KRs should not be hit, they’re goal posts. Pick a confidence interval and stick with it; otherwise, you’re moving the goal posts. -should be made and reviewed quarterly -pipelines and roadmaps should be reviewed on a weekly basis
Objective goals (theses) Pipeline of ideas (experiment designs) Roadmap against those goals (build, capture data, go for precision not accuracy) Analyze results (learn, conduct post-mortem)
ex KRs: KR1 - D1 Retention @ 95%, CI @ 95% KR2 - 50% of signups become DAU (daily active users), CI @ 95% KR3 - 50K DAU
For more, see How Google sets goals: OKRs
Zynga almost never A/B tests; they do multivariate and sample testing
If you don’t have a control, then you don’t have an experiment
Creativity and science is harmony
Really good product people, really good CEOs don’t have a profile. They could be tinkerers, hackers, artists, and maybe sometimes MBAs.
Growth hacking requires: mix of right and left brain thinking and patterns of it design-savvy, customer-centric and analytical creativity analysis leadership ability intellectually honest over defensive authority to talk to every part of the product process and product instinct Being good at a lot of things: more than just mastering customer acquisition in the first 3 steps of the funnel.
Investors vary their interest across 3 areas: product (Twitter, no revenue, all product), team, market (TAM: total addressable market)