Growth Principles 3/7
Note to the reader: This is a repost from LinkedIn
Guess this is going to be regular series until I start repeating too much or I get sick of writing these down, but here’s the third installment of my growth insights and execution series.
The effectiveness of a growth funnel is as good as its weakest point
- A chain is only as strong as its weakest link, and a growth funnel is only as effective as its biggest bottleneck.
- Optimize the weakest stages of your growth funnel to unlock the full potential of your entire customer acquisition process.
- Continuously monitor and strengthen the weakest points in your growth funnel to maintain a well-oiled, high-performing machine.
Remember, your growth funnel is a complex system with many interdependent parts. Identifying and addressing the weakest points can have a tremendous impact on your overall growth performance.
Roofshots: Small Steps, Giant Leaps
- Roofshots are achievable, short-term improvements that compound over time, leading to significant long-term growth and success. They prove that consistent, incremental improvements can lead to game-changing results.
- Ranking, triggering, and signal changes for search is an example of roofshots; so are datacenter innovations like improving electrical efficiencies, etc.
- Compound growth is the secret sauce: A 1.3X improvement per quarter adds up to a moonshot-level 23.3X improvement in under 3 years.
- Roofshots are the unsung heroes quietly driving sustainable growth and innovation behind the scenes.
- See Roofshot Manifesto by Luiz André Barroso https://fontoura.org/papers/barroso.pdf
Don’t underestimate the power of small, consistent improvements. Roofshots may not grab headlines like moonshots, but they are the foundation of sustainable, long-term growth.
Mediocre ideas executed well are better than great ideas executed poorly
- Execution is king: A mediocre idea with excellent execution will outperform a brilliant idea with poor execution every time.
- Ideas are just the starting point; it’s the quality of execution that determines the success of growth initiatives.
- Pivot to practicality: Focus on ideas that can be implemented successfully, rather than chasing great ideas that prove difficult to execute effectively.
- Build a strong foundation: Executing well on a mediocre idea puts you in a better position to pivot to a great idea later, as you’ll have a solid base of users, resources, and market understanding.
Remember, ideas are just the beginning. It’s the execution that truly matters. Prioritize ideas that can be implemented effectively, and use the strength of your execution to position yourself for even greater success in the future.
I hope these insights resonate with you and provide some actionable tips for your own growth efforts. As always, feel free to share your own experiences and insights in the comments below. Let’s keep the growth conversation going!
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