In order to expand their business, startups need to identify and use efficient products (tools). We have listed down Top 5 Products for Startups, and what makes them the top products.😎👇🏻
#prodmgmt #productsforstartups

Part-II
Startup Bharat: @naval & @balajis

The full Clubhouse session in text

Thread Continued

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Naval: It's funny because right now there's like that dude, where's my flying car mean, which is like, we were promised flying cars, but instead we got, 280 characters, 140 characters, and there's some truth to that. But at the same time, We're going to get our flying cars.

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We have drones that are flying overhead. How long before those things are carrying larger and larger payloads, but carry humans all the way. Maybe not, but there's lots of other electric plane companies coming.

18/

We have electric cars, we have rockets. If you can look at like bird and lime and so on that electric scooter revolution, that's a bigger deal than people think.

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One of the big problems with a developing country like India is you just have horrible pollution and traffic. But you can see how over time that in the West, a lot of non-electric vehicles are being replaced by electric vehicles not because they're cooler or necessarily...

People who want to switch on growth for their startups or marketing professionals ask me what to read to get their thinking up. Here's a thread of some books and blogs I read

When you read these, it's important to focus on the principles and not the exact strategy. Copying and pasting what someone else has done is not a guarantee that it'll work

Books:

1. Nir Eyal - Hooked: How to build habit-forming products.

Nir writes about the psychology of human behaviour with digital and physical products and shares real-life examples of how you can engage, nudge and encourage your customers to keep using your product

2. Ryan Holiday - Growth Hacker Marketing: A Primer on the Future of PR, Marketing, and Advertising

Ryan writes how boring simple advertising is and what growth hackers need to do/take advantage of to be truly unique and to switch things up

3. Gabriel Weinberg and Justin Mares - Traction: A Startup Guide to Getting Customers.

Gabriel and Justin focus on channels you can lever to acquire and retain customers. This book is a guide if you have no clue how to approach customer acquisition. It's an inexhaustive list tbh

1/23: One #startup trap to avoid (founders and VCs) is to fall in love with a value prop that can’t be delivered IRL now. Good diligence will surface disconnects but they’re often brushed under the rug by #VCs who believe fixing delivery over time will be fine. Unpacked:

2/23: The foundational reason why this matters from day 1 is that building a franchise of loyal customers is difficult for any #startup to pull off but the challenge is amplified if the #startup has to rebuild its franchise as it scales.

3/23: Broken or unfulfilled promises lead to customer behaviors that have real consequences. Poor ratings and reviews. High customer service costs. High complaint volume. Low engagement. High attrition/returns/cancelations. Low organic growth.

4/23: Undoing damage takes time and sometimes is nearly impossible. Convincing inactive customers to “retry” your product isn’t easy. Overcoming bad reviews can be a Herculean task. And resources will be thrown at fixing past sins at the expense of new functionality.

5/23: And guess what happens when #VCs dig into questionable early performance numbers? These conversations tend to revolve around caveats, apologies and synthetic analysis that bakes in significant improvements (many of which are still “unknown” in nature).

Becoming a creator in 2023 will change your life.

Here are 13 tips to make the switch from a consumer to a creator:

Set a Daily “Make Something” Goal

Grab a sticky note and write “make something today"--stick it to your computer monitor.

Your goal is simply to make something--anything--every single day.

Set the bar low and make it achievable.

Creation will start to become a habit.

Document What You Make

Start documenting your daily creation.

Post it online with a few sentences about what it means to you.

Was it an idea floating around in your head for months? A mini essay you've been meaning to write? Code that you finally figured out?

Document it.

Decide Before You Start

Too often I sit down at my computer and wonder what I should work on. That’s dangerous.

The Trick: Decide what you are going to do beforehand.

Write a to do list beforehand, then immediately jump into that first task.

Remove the guesswork.

Separate Creation & Consumption

Computers are for creating, not consuming.

Go to all your social sites and sign out. Set up your computer as your creation hub.

Use your phone or tablet for consumption.

One device is used for creating, the other for consuming.