GA

Gustaf Alströmer

08/16/19

@ Y Combinator

The lean startup approach helps startups validate ideas quickly, which is essential for achieving product-market fit.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Working on growth before achieving product-market fit and good retention is not a good idea.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

As a founder, you need to engage in activities that don't scale in the early days of your startup.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

The best way to measure product-market fit is through unbiased data that shows if you've created something people want.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

For Airbnb, the key metric representing value is bookings and stays, not just searches.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Retention is the most reliable way to measure product-market fit; it indicates whether users continue to find value in your product.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Using surveys to gauge product-market fit can be biased; instead, focus on measuring actual user retention.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Growth channels are platforms where people discover products, such as Google and social media advertising.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Conversion rate optimization involves analyzing each step of the user journey to improve the percentage of users who complete desired actions.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Understanding your target audience is crucial; if your content doesn't resonate with them, they will likely drop off your site.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Internationalization is important; translating your product can significantly improve user experience and conversion rates in different markets.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Make sure your authentication flow is seamless; users are sensitive to friction during sign-up and may abandon if it’s too complicated.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

For products that require user involvement, effective onboarding is critical to retain users and enhance their experience.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

The urgency and scarcity of offers can significantly influence purchase conversion rates; these elements should be integrated into your user flow.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

To grow effectively, you need to identify and focus on the growth channels that align with your product's unique characteristics.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

If your product is social in nature, having more users improves the experience, making it essential to focus on virality and referrals.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

You should prioritize understanding your customers and their needs before expanding your reach to a broader audience.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Don't start online marketing until you have paying customers; many founders make the mistake of investing in ads too early.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Many successful companies focus on one or two marketing channels rather than trying to utilize all available options.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Referrals amplify word of mouth; offering financial incentives for users to share your product can enhance this effect.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

When optimizing referral emails, ensure the sender is recognizable and the value proposition is clear to encourage opens and actions.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

The customer acquisition cost (CAC) must be lower than the revenue generated from a user to ensure sustainable growth.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Search engine optimization (SEO) is highly competitive; to succeed, you need to be as good as major players like Pinterest or TripAdvisor.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

A/B testing is crucial for making informed decisions about product changes; it allows you to compare the impact of different designs or features.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

When launching a new design, it's essential to measure its impact through A/B testing to determine its effectiveness.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

You need to do things that don't scale when starting out, as you're not yet at the stage for real growth strategies.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Measuring user attention is the best way to understand if you have product-market fit.

GA

Gustaf Alströmer

08/16/19

@ Y Combinator

Build a culture of experimentation where data drives decisions instead of the loudest voice in the room.

Gustaf Alströmer - Growth for Startups

Takeaways