ASU Startup School Session 6

Grow your CompanyASU Startup School / Stage 6

By the end of this lesson, you should be able to:• Understand the Get, Keep and Grow

Funnel• Create a Marketing Plan and Sales

Strategy to Get Customers• Managing Customer Relationships to Keep

and Grow Customer• Able to create and implement Growth

Hacking Strategies

Before we start this lesson, consider:• How do you get customers? • How do you keep your customers?• How do you grow your customers?• How much does it cost to get your

customers?• How much does it cost to keep and grow

your customers?

Startup School is…•Startup School is a 6-part series to help entrepreneurs learn the fundamentals of entrepreneurship. At the end of this series, Entrepreneurs will be able to express their ideas with an excellently crafted elevator pitch. Have completed the Business Model Canvas, Customer Discovery, Built or Identified an MVP and Understand the Cost and Revenue needed to be successful. Finally, we will translate all of this into a Business Plan to execute against.

Aaron D. BareI am an Entrepreneur Educator, making an impact on Entrepreneurs starting businesses. •Chief Facilitator & Curriculum Design, ASU Startup School •Former Entrepreneur-in-Residence, Arizona State University

•Aaron has driven over $4.5 billion of value creation through growth initiatives for various Fortune 1000 companies, and has served as CEO for 6 privately funded companies & founder of over a dozen companies.•12x Entrepreneur, 100+ websites, 20+ software projects + 15+ apps•MBA, Thunderbird; Stanford D.School; MA, Indiana; BSc. (Honors) Indiana Tech. Kaos Pilots. Hyper Island. Singularity University.

Overview

1. OVERVIEW

6. GROWTH

2. 3.4.

5.

Get, Keep & Grow ASU Startup School / Stage 6.1

Get, Keep and Grow • Get: Growth hacking awareness and acquisition tactics while

reducing customer acquisition costs.• Keep: Reduce attrition and retain customers via loyalty

programs, product updates and quality service.• Grow: Increase customer lifetime value by upselling, next-

selling and cross-selling.

GetLet’s review the metrics and pick 3 to see, which is most essential to the success of your business.

KeepLet’s review the metrics and pick 3 to see, which is most essential to the success of your business.

GrowLet’s review the metrics and pick 3 to see, which is most essential to the success of your business.

Growth Hacking ASU Startup School / Stage 6.2

Growth Hacking A growth hacker is not a replacement for a marketer. Every decision that a growth hacker makes is informed by growth. Every strategy, every tactic, and every initiative, is attempted in the hopes of growing. Growth is the sun that a growth hacker revolves around. Of course, traditional marketers care about growth too, but not to the same extent. Remember, the power of a growth hacker is in their obsessive focus on a singular goal. By ignoring almost everything, they can achieve the one task that matters most early on.

This absolute focus on growth has given rise to a number of methods, tools, and best practices, that simply didn’t exist in the traditional marketing repertoire, and as time passes the chasm between the two discipline deepens.

Learn about growth hacking here: https://www.quicksprout.com/the-definitive-guide-to-growth-hacking-chapter-1/

Growth Hack BrainstormGet your post-its out and have the class share ideas for your company to grow, think specifically about the stages of Get, Keep and Grow.

Other Growth MetricsASU Startup School / Stage 6.2

Voice of the Customer

Net Promoter

• Go to Survey Monkey & create survey to send to customers asking for your net promoter score.

Create Net Promoter

Iterate & Start over

30 DAYS

24 HOURS

15 min. Daily meeting.Team members respond to basics:A.What did you do since last Scrum Meeting?B.Do you have any obstacles?C.What will you do until next Scrum Meeting?

Project Complete

24 h Scrum

BacklogItems expanded by team

Sprint BacklogFeatures assigned to sprint

ProductBacklogPrioritized product features desired by client

Reflection ASU Startup School

At this point, you have:• Completed many Iterations of the Business Model

Canvas• Completed of a Successful 30-Second Elevator Pitch• Created of a Customer Discovery Analysis• Developed a Minimum Viable Product• Created of a Profitable Company• Understanding of a Fundable Business Plan

Learning to Know: What do you know now about startups or entrepreneurship that you didn’t know a when you started?Learning to Do: What do you know how to do that you couldn’t do before?Learning to Be: Have your ways of thinking and acting changed? How has this changed you? Have your values and priorities changed?

* Please share feedback with class