Growth-control (GC) companies are focused on getting bigger while maintaining control over decisions. They grow primarily through their retained earnings, paying low (or no) dividends to the owners. They also have low (or no) external equity or debt, since answering either to outside investors or borrowers requires surrendering a level of autonomy. When outside equity is taken on, it is often done on a limited basis or through dual-class shares that ensure the core owners maintain control (as in Google/Alphabet and Facebook). The avoidance of debt is often a surprise to those used to looking at widely-held public companies or private equity firms, who seek to maximize returns through leverage. For private companies, debt can be useful, but is usually recognized to come at the cost of control. Closely-held public companies will often take a similar view. In its Owner’s Manual, Warren Buffett says that Berkshire Hathaway will “use debt sparingly,” and will “reject interesting opportunities rather than over-leverage our balance sheet.”
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"You need ‘growth hacking’ to grow your business."
That’s the advice I got from many people when we started the company. I searched on google and found numerous articles about growth hacking. Honestly, I joined this group thinking that i will find 'hacks' to grow the business.
We spend our time and energy developing growth hacks which involved development team efforts too. We tried multiple growth hacks and none of them worked! We got many visitors but couldn’t manage to get customers from the hacks.
So, what went wrong?
At that time, we were still at the initial stage of the product. Growth hacking works only when you already have a good product.
At an early stage, you do not need Growth hacking. Focus on building a great product.
Once you have a good number of customers who love your product, that’s when you can do growth experiments and reach masses. Make sure that the growth hacks effort is minimal and doesn’t hinder the product development.
What is your experience with growth hacks?
You need help
Realize you need help and you want to start looking for co founders ,founders and then team members. People don't join startups to be employees.
Build a network
Always forge relationships with peers and colleagues that are winners, the high performers to keep in mind to join a future startup or to enrich your career. Your future success or failure is always dependent on the quality of talent you attract or work with.
Build your company with a mission and vision.
In your earliest days, you won't have the financial resources to offer big paychecks to your employees. In order to convince top talent to come and work for you, you need to build a company with a great mission and vision that excites them. As a founder, you must be able to share your long-term vision with your potential employees and present your company in the best way.
Hire your fans
Hire people who share your vision, who are driven the same as you, basically hire your fans. Fans are likely to work harder than others and they will love it too. Also they are great for word-of-mouth marketing.
Create a hiring model
It is critical ,early on to create an ideal hiring model and never compromise. The difference between hiring someone average and hiring only those that are exceptional is a difference worth millions.
Here are the steps:
🤝 Step 1 – Treat Co-Founders Right: Brunson Personally Owns 27%, Dickerson, Jones 27% Each
📈 Step 2 – Seed Product With List, How Clickfunnels Landed First 200 Beta Users
🤓 Step 3 – Use Smart Signup Flow to Get 14 Day Trials, Then Upsell, Recover CAC on $70k/mo Spend
🕵️♂️ Step 4 – Test Webinar Content At Live Events, 38% of Room Stood Up and Paid $1k Instantly, 60/40 Rev Share
📕 Step 5 – ClickFunnels Pricing Strong Upsell, 22,316 People Have Bought “EXPERT SECRETS“
🚗 Step 6 – Turn Customers Into Affiliates With $500/mo Car Lease Paid in Full
🐛 Step 7 – Clickfunnels Adds $1m in New Revenue Per Month Just From “Powered by Clickfunnels” Button
🤦♂️ Step 8 – Founder as Face of Brand Is Fine, Until Its Not. Can Brunson Replace Himself?
👎 Step 9 – Use a Cancellation Funnel to Fight Churn: Only 1% of Customers Churn After 12 Months Active (7% in First 30 Days)
🇱🇷 Step 10 – Make Up An Enemy (VC, Infusionsoft) to Polarize and Unite Your Community
📢 Step 11 – In Digital First World, In Person Wins, $3.2 Million On Stage Sales
🧮 Step 12 – 70k Customers Moving from $97/mo to $297/mo Is Big Time Growth, Bundle New Product Lines!
🎤 Step 13 – Launch Your Own Event, Create Killer Experience, 4500 At Funnel Hacking Live
🏋️♂️ Step 14 – Don’t Shy Away From Competing, If You Don’t Celebrate Your Brand, No One... (More)