Framework for startups

For #startups (copied from twitter threads; Gaurav (@agarwal__gaurav) / Twitter)

Growing a startup can be HARD, You feel lost 92% of the time - The highs and lows are brutal. I wish I'd had a framework when I first started my job. Here are 30+ growth lessons I wish I'd learned sooner:

1. Focus on storytelling; Humans buy emotions; not the product. Build a story around your product/startup. Sell the story.

2. Fail Fast; Marketing campaigns fail and it's okay, It's better to fail early than later. Fail fast and iterate.

3. Data is the fuel; You need data to measure the success in marketing. Never depend on assumptions. Measure everything in and out.

4. Mix up experiments; Some experiments take time to show results while some show quickly. Have a mix of both running along.

5. Define the outcome before planning; Decide end goal before deciding "how". Once you have a number in mind plan how to reach that. Most people do the opposite.

6. Take Sprints; Work like a lion, not like a cow. Do marketing sprints, achieve the goal. Plan and take sprints.

7. No secret sauce; There is no one formula. You need to work hard to create your own formula. All the best!

8. It's always about THEM; People don't care about you. People always care about themselves. Make your user the HERO.

9. Work on strengths; Everyone has a unique strength. You need to figure out what's yours. Work on your strength rather than working on your weakness.

10. Prioritize things; You cannot do everything at once. You need to start to prioritize tasks and work accordingly. Know the difference b/w urgent, priority, not so urgent.

11. Take Risks; You can never know what will work until you try and test. Trust your guts and take calculated risks.

12. Consistent efforts; Things will take time. No matter what things will take time. Be consistent with your efforts, results will show up.

13. Focus on customers; Optimize for your customers always not for your investors, competitors, or yourself. Customers are always the first investors.

14. Curiosity >> Skills; Skills can be gained but curiosity can't. Be curious to learn new things. A curious person can learn anything and everything.

15. There is no perfect plan; No matter how many plans you make execution matter more. Spend more time executing than planning.

16. Get feedback; No one can be perfect. Taking constant feedback is the only way to improve. Be direct on what area you need the feedback.

17. Work on your strengths, always; It's almost always better to double down on your unique strengths. The world rewards outlier excellence And not all-around mediocrity.

18. Practical learning > Theoretical Learning; No matter how many books you read- you can only learn by F*cks ups. Internet is full of deep knowledge but its application is rare.

19. Accept uncertainties; No plan can go as planned. The result is always uncertain. Accept that and take gut decisions.

20. Time v/s Results; Marketing takes time. Decide the time in which you want to get results. More time= Organic marketing Less time= Paid marketing.

21. Choose the right platform; Choose according to the target audience who hangs out there GenZ = TikTok Millennials = Instagram CEOs, Founders & VCs = Twitter Once you choose the platform create the content accordingly.

22. Measure right metrics; People often fall for vanity metrics. Measure metrics that add up to the revenue. Focus on the visits to conversion ratio.

23. Paid v/s organic; Both are important. Never put all the eggs in one basket. Analyze the stage of the product If you want to scale go for Paid but always focus on organic along the side.

24. Retention v/s Acquisition; The balance between both is crucial but if Retention << Acquisition then something needs to be fixed If Retention is less then focus on

-Customer support

-Product features

-Customer feedback

-USP

25. High LTV and Low CAC; If your CAC is high and LTC is low your business can't survive. Know how much a customer's value will be over the course of a lifetime. By that, you can make smarter decisions about what to spend to acquire a customer.

26. Keep learning; You can never know everything It has been years still find something new to learn every day. Be a student for life.

27. Analyze mistakes; Write down all the "WHYs" If an experiment failed, what were the reasons? Reflecting on mistakes is the best way to grow.

28. Never quit; Marketing efforts compound. It might be tiring at the start but things get better once you start getting results. Marketing is all about delayed gratification.

29. There is no one way; Marketing = Constant experiments. What worked for them might not work for you. Keep all doors open.

30. Ask for help; If you get stuck, do not shy away from asking for help. Everyone is figuring out.