“If you move – you grow. It’s f*cking hard, but it works.”

Startup Growth

Founding a startup in today’s oversaturated market is hard. Figuring out startup growth is even harder.

Your genius product is far from enough to make it in today’s tech jungle. It’s the magic you choose to add to it that’ll make the difference.

We brought TransferWise and Stripe’s growth experts in to deliver their “How to rock the startup scene 101s”.

 

Here’s how these bad-boys deal with startup growth.

 

If you can’t be bothered to read, these are for you:

 

Now.

 

Growth Tribe brought these two rockstars to Amsterdam’s growth hacking scene for a fun yet insightful evening of conversations on startup growth, culture, mission, innovation and other cool stuff.

Startup Growth Tribe FinTech Event

 

But who are these people?

 

Well.

Only the very same people responsible for mind-boggling growth in their respective companies and the very same people that started a revolution in the banking industry.

 

Startup Growth Nilan Peiris TransferWise

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Two truly vision driven startups. Two truly growth oriented individuals.

Naturally, we were uber excited and so were our guests: we had a full house of startup founders, fintech enthusiasts and marketers hungry for insights, knowledge and… pizza 😉

 

Startup Growth Tribe Fintech Event Pizza

 

Yup… Pizza was good. But the insights on startup growth were even better.

 

And now, a summary of the learnings. Side note: you’re welcome.

 

Startup Growth Tribe Fintech Event

 

Guillaume kicked off the event and talked about:

  • The Entrepreneurial spirit:

You don’t need to be an ‘industry veteran’ to create something innovative.

  • Over-solving the problem

Initially, Stripe wanted to make their concept stupid easy (over-solve the problem). Upon experiencing growth, the founders realized that it would also be great to get people’s emails (under-solve the problem). Think big at first!

  • Early traction

It’s important to have a starting ecosystem of 20-30 early users to really test your product.

  • Hiring

You can hack growth on a micro basis in everything you do, but as the CEO you will not hack every single thing. Hire people who will push the bar of your company higher.

  • Culture

At the end of the day, the founder isn’t the one who will “make it happen” – the people will. Make sure that people collaborate in the utmost transparent way.

  • Scaling and innovating

Stripe puts a lot of weight on the “We’re just getting started” mentality. It keeps people ambitious yet humble and in the end, this is what pushes a company to scale.


 

Startup Growth Tribe Fintech Event

 

Nilan talked about the mission driven startup:

  • All startups start out to solve a problem

Fixing that problem led to a cause, which eventually started increasing TransferWise’s customer base and driving growth. This is what being “a mission driven startup” is all about.

 

Startup Growth Nilan Peiris Slideshare

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  • Evangelism is the biggest driver of startup growth

TransferWise believes they can create evangelical customers. Create a product that users will find impossible NOT to talk about.

To do that, find your startup’s “growth levers” and bring them to a magnitude at which people see no alternative.

  • Product isn’t enough. We need marketing

Sometimes, the product, as it is on its own, is not as exciting as the cause behind its creation. Instead of forcing ads down your customers’ throats, give them stories to tell.

 

Startup Growth Nilan Peiris Slideshare

Source

 

  • Mission driven culture

 

Startup Growth Nilan Peiris Slideshare

Source

 

In practice, the startups that scale, scale beyond their founders. So the most a founder can do is influence the culture. It’s much more powerful when it’s not a vision of 1, but a collective vision.

 

  • Mission driven values

Customers are more important than your team and your team is more important than your ego.

 

  • Product ownership

 

Startup Growth Nilan Peiris Slideshare

Source

 

In order to avoid Mexican-standoff-type disagreements among the teams (such as Marketing and Product Development), every team can make changes, as long as they’re increasing conversion rates.

 

  • Mission driven metrics

Talk to happy customers to feel good but talk to the unhappy ones more. It’s way more important to understand why people had a bad experience with your product!

Also, we’re all familiar with NPS. Turns out: moving your NPS has the greatest leverage on growth.

If you move – you grow. To quote Nilan: “It’s f*cking hard, but it works”.

 

To sum this awesomeness up

 

The speakers delivered, the insights were priceless, the energy was sky-high.

Once again, big shout out to our speakers, Nilan and Guillaume, for sharing their stories and a big thank you to all attendees.

We look forward to hosting bigger and better events in the future and we can’t wait to see all you growth hacking enthusiasts there!

Alexandra Belicova
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Alexandra Belicova

Creator of Epic Content at Growth Tribe
Alexandra is mainly responsible for creating, distributing and managing EPIC content for Growth Tribe. She also dabbles in twittering, instagraming, snapchating and everything else millennials-related.
Alexandra Belicova
Tweet at me

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