Growth leaders have previously built significant corporate relationships while collaborating in a real office. Those relationships can be brought about by pandemic, but let’s say you’re a new company and you’re the first.
How can you make this complicated collaboration from the left?
Growing marketer and investor Susan Su tells us that the solution isn’t just multiple software tools. In an interview with the bottom line, he said that after the pandemic, startup founders need to develop a mentality that puts growth at the center of the company’s approach.
Consultants and agencies can do a lot to add to this effort, especially if they have previously solved the kinds of problems you face. (In fact, TechCrunch asked founders working with growth vendors to share a recommendation on this survey. We use your answers to find more experts to interview.)
Su is now the head of portfolio strategy for Sound Ventures, formerly a leader in the growth of Stripe and the first to take over Reforge. He also shared some thoughts on market opportunities after the pandemic throughout the conversation below. E-commerce is primarily for profit, he said, even as we all seek to stay away from screens constantly. However, many social and mobile sectors are mature, and it is especially difficult for startups to compete as real -world activities are absorbed in many hours.
Don’t forget: Susan Su will also appear at our Early Stage virtual event on July 8th (and answer the questions directly).
How have you seen the beginnings of managing user engagement changes as more people come out of pandemic lockdowns and adjust to their daily lives?
As we come out of the pandemic, I expect we will see a natural and obvious shift in some consumer activity that will roll across midsized businesses and enterprises. As with the onset of the pandemic, we will see unequal consequences in all sectors:
The growth of e-commerce during the pandemic but it is definitely an addition to one of the fastest growing trends in digital commerce and streamline logistics. I don’t think we should retreat from e-commerce because the formation of the traditional online shopping shift has been studying for many years; we will go back to an age before 2020, and that will not happen.
New social-mobile experiences are also changing during the pandemic, but there is still a valid question of whether 15 months or more is enough time to be part of the day-to-day infrastructure. day life. We live in the age of mature platforms, so every new service steals time away from an existing service. As with pre-pandemic development, their success depends on quickly accumulating network effects and a good, inclusive product experience. Now that we have parks, friends and dinners calling us again, it’s a real test of what exactly will attract some of the new value proposals, and if they can continue to show their relevance to a more hybridized online-offline world.
That being said, the pandemic is a major deterrent to human society and [the] economy, and these types of restraint constantly foster innovation that will not disappear. We will evolve, but we will never go back. It sounds cheesy but it’s real.
Some aspects of the pandemic, such as remote employment, appear to have radically changed some industries. How do these social changes impact how the typical startup thinks about growth?
Growth is constant growth-that is, a process of experimenting with innovation to identify and solve customer problems, and then measure solutions to reach and innovate more. watching. Platform changes such as iOS 14 or Facebook’s collective aversion algorithm have a much greater impact in the near term on technical growth, and they are not specifically pandemic-related.
One area to watch is how to build and operate growth teams. Growth is a horizontal function that touches many different parts of the org, including product, engineering, marketing, comms and design. Many startup teams are already working on collaborative tools even when they sit in the same office, but growth is more than just using tools. The most effective growth leaders succeed by building relationships throughout the organization; it’s like the Stone Soup story – you make this food that will feed everyone, but you also need everyone to bring a pinch of salt, or a dash of pepper, or a carrot, and that takes negotiation and relationship growth. . I’m very interested to see how new leaders grow aboard remote teams and what approaches they bring to this “networking” that needs to move.
From the days of growth hacking to social platforms, growth marketing has become a solid part of the world. Although this is not the essential skill of a startup founder, even if it is necessary. So, how do they think about addressing sales growth in 2021? What are the requirements they must meet in their duties?
Every builder should have a growth mentality. They don’t have to memorize all the right buttons to force a dashboard of ads, but they do have to be familiar and comfortable with the main task of finding a gap. That said, founders mean entrepreneurship – their company exists because they see an opportunity that no one else has, and it’s also the main task of growth.
Builders will fail if they adopt a mentality that others can or should do it for them. The builder’s job is to supply ambition and opinions, and then drop the high-quality talent that comes and touches the levers and revives their creative vision. Lots of people can ACT marketing growth-that is, they know how platforms work, they know the rules and playbooks. Yet few can create real vision strategies that change the whole game-people become builders, and companies become household names. So for a founder, I would say that the most important work of growth is to keep knowing your market and customer better than anyone in the world, have an opinion on what is missing , and work to bring in the very best talent that comes with you and is thought to be a partner, not just a button pusher.
Do you work with a talented individual or agency that helps you find and retain multiple users?
Responding to our survey and help us find the best sellers that are starting to grow!
With limited resources, how should companies think early on what to focus on?
This will depend on the objectives of your company. Are you planning to save money and need to show specific KPIs? Are you bootstrapping and need to keep the lights on? Resources should always be devoted to the most objective purposes, with the highest vision you can achieve. For some companies, this may mean stopping revenue in order to focus on getting viral users or word of mouth to show future investors that there is something special here. For other companies, perhaps in shorter categories such as business, it’s about carrying some family -friendly logos as a signal to later customers and other stakeholders, including employees and investors in the future.
One thing that companies should always focus on at an early stage is to build a top-shelf master brand. You can be as good as the talent you attract to your company, and interesting growth can play a role in this. The best designers, engineers and product people are always flowing towards the companies with the most growth. That way, it’s a very strategic role and function.
What’s going wrong with the startups?
You can’t actually outsource growth or any other causal activity; you can’t get customer acquisition after product development. At the end of the day, if you really think about it, it’s all a company, a customer -acquired machine. It has to be core; wake up daily and consider growth, not just to hit revenue or user KPIs, but to build the company that is given the best people ever worked. It’s not about finding someone good enough to solve your problems in the near future; it’s about framing problems in a way that appeals to the most creative, hard-working people so they don’t get it out of their heads. Find moonshot talents, and figure out how to close them. The rest will fall in line from there.
When should a builder be comfortable getting help from an outside expert or agency?
Anytime. Good agencies. It’s an extension of your talent, and the best agencies don’t sell to you – they have to sell to your problem because they have select companies like yours. That’s the agency or outside expert you want to work with, because they have a valuable insight from the other best-class builders and teams they work with that they can be given a meeting. Any agency can run Facebook ads (it’s not rocket science), but you want to find the team that solves the biggest problems for your hero companies. Then you get not just an ads manager, but a mentor.