Fireside: Casey Winters, CPO at Eventbrite - Growth Models That Disrupt the Tech Industry
Hey everyone and thank you so much for joining our session on growth models with Casey Winters from Eventbrite!
Here’s a short recap of some of the key insights from the session ✨
WHAT KIND OF NETWORK EFFECTS OR GROWTH MODELS IS THE BEST FOR SCALE? 🚀
Think about the network effect you are trying to build, and the scalable growth strategy behind it, that is crucial for building compounding sustainable growth over time.
No model is better than others; the key is to find the best one for your company.
DIFFERENT FORMS OF NETWORK EFFECTS: 📈
Cross-side Network effect: The strength of one side has an impact on the growth of the other. Especially important, if you are building a marketplace.
Direct Network effect: Every new user increases the value of the product exponentially and will make the product better.
Data network effect: A product's value grows as a result of more users via the accretion of data (for example personalizing content to reach higher engagement)
HOW TO FIND THE RIGHT GROWTH MODEL AND WHAT KIND OF SUCCESS METRICS TO LOOK AT WHILE TRYING TO REACH A FAST GROWTH LOOP? 📊
Create a list of hypotheses and ideas - Rank them by parameters such as "potential impact" or "how much effort it is going to take"
Go and try a bunch of things, be prepared that some of the might won't work, you will find the best one that works for your company.
Double down on the one that really works.
GROWTH AGENCY VS HIRING A PERSON TO DO IT? 🏋
Try to solve a problem in the following order: Software > Process > Employees > Consultants > Agencies
RESOURCE FOR FURTHER LEARNINGS ABOUT GROWTH: 📚
https://reforge.com
A FINAL TIP FROM CASEY: Early-stage startups should not try to build everything by themselves.
We made the recording of the session available for you in case you want to circle back to some of the learnings of the session, check it out here.