Happy Periods & Happy Planet: This Entrepreneur’s Sustainable Period Product Reduces 99% Of Plastic Waste!

‘Being sustainable is the future!’ — that’d be the only key to sustain a better life — for us and our coming generations.

While Kiriti Acharjee, 31, believed in creating a brand that could be an eco-friendly choice for people, he also wanted it to remain true to its cause — something that could actually bring a difference in people’s lives.

And that’s how GoPadFree was born!

An eco-friendly period product labelled under the brand Healthfab, GoPadFree aims at replacing plastic sanitary napkins — to bring comfort to women & create a more plastic-free society. It reduces the total plastic waste generated during its lifetime by over 99%. While there are period panties in the market, this is the first stand-alone, reusable panty of its kind. 

Happy Periods & Happy Planet This Entrepreneur’s Sustainable Period Product Reduces 99% Of Plastic Waste!

Unlike menstrual cups, which are a sustainable alternative but neglected due to the taboo and fear of insertion, GoPadFree wants women to experience a hassle-free and comfortable menstruation.

And though it is one of the major USPs of the product, it is not the sole reason for Kiriti to start it.

“I was looking to create a solution that would make the lives of the working women in my family easier. They found it difficult to go to work during their periods since there were fewer to no places to change pads and dispose of the old ones. Gradually, I realized that this was not restricted to my household. This prompted me to make a reusable period panty — that could replace conventional sanitary pads. There is no reason that we can’t provide sanitary care solutions and save the environment at the same time! Our product was a direct solution to all the problems,” shares Kiriti.

“I decided to start Healthfab — with the express purpose of providing a comfortable and hassle-free environment for menstruating women. I decided to test this first in my inner circle. After six months of testing and incorporating the feedbacks, I came up with the final product, the GoPadFree reusable stand-alone period panty. The product — claiming to be the first and currently the only one of its kind in India — was ranged on Amazon in 2020 at a premium pricing and has become quite successful since.”

Before starting Healthfab, Kiriti worked with Flextronics (known since 2015 as Flex) as a senior analyst in their supply chain and procurement domain. “It was here that I understood supply chain, procurement, and logistic operations at a large scale,” he adds.

“After working in Flex for 4 years, I decided to switch industries and jumped into e-commerce and joined Amazon as Associate Account Manager. A year later, I opted to join Cloudtail (a joint venture between Amazon and Catamaran Ventures). I was given a portfolio of ~USD 75 million to manage and grow. I decided to quit my job around August 2019 and started to learn more about other marketplace nuances operating in the Indian continent,” he further continues.

He was joined by Saurav Chakraborty and Satyajit Chakraborty as co-founders in September 2019, and they together registered their company officially.

As of this writing, the team managed to sell around 10,000 units and save 3 tonnes of sanitary plastic. “We have not been aggressive in promoting our product and have invested all our efforts in perfecting its features. We did not even expect to sell these many units so soon, but the customer response has exceeded our expectations,” the 31YO optimistically adds.

GoPadFree is currently one of the top 75 sanitary products on Amazon. The startup has also started selling in the Middle East and has got very reassuring responses from the customers there. 

“While the product is highly rated with excellent reviews on Amazon, the aspect that has truly delighted us is the number of users who have reached out to us through our website to appreciate us for the product and give their detailed thoughts and feedback. This has made the whole experience personal — it makes us feel that we have genuinely made enough of a difference in someone’s life that they took time off to contact us!”

Kiriti shares recalling the positive feedback

While every industry can talk about having a personal effect on its customers, it is never truer for anyone more than it is for the health and hygiene industry. The level of trust that a brand in this space can command from its customers is huge, and consequently, the rise and fall of a brand is intense. 

“We have seen our customers treat us with doubt and suspicion before trying our product. We have also seen the insane level of comfort and familiarity they show to us once they have tried and bought into our product proposition. Each of us in the team has worked in a different industry, and none of us has experienced this level of engagement with any customer before. Our biggest lesson, consequently, is about taking the trust of the customer extremely seriously. There is absolutely no room to repair the situation once that trust is broken,” the CEO shares.

Menstrual health is still a taboo in today’s world — more so in India, it is an extremely under-served segment — where these issues are barely acknowledged, let alone discussed in public. This is that one common barrier that cuts across all demographics.

Since the ideation stage, all the insights and feedbacks incorporated were received from females in friends and family. But as the startup grew and broadened its customer base, Healthfab’s biggest challenge was to break through that social barrier and talk to potential customers.

Kiriti wanted his startup to be free of that social barrier. With all the male co-founders and one female in the team, the idea was to neutralize period talks and make people realize that periods are common and men can too talk about it!

“One thing we learned early in our journey is the importance of being willing to be proved wrong. This wasn’t a category we knew well and had to learn everything from scratch. A lot of information we obtained was disproved over time, and we changed course accordingly. This was particularly intense for the category we are working in since the janta doesn’t talk about it much. We approached every situation with the assumption that we may not always be right, and that helped us get a far better understanding of our customer than what we would have had otherwise,” he further shares.

While talking about investments and profits, Kiriti shares, “we are bootstrapped and has been focusing on expanding our categories. We believe that our product has achieved a level of acceptance that can now allow us to scale. We are working on additional product lines which are specific to the health and personal hygiene category. The underlying philosophy, though, is that they will all be environmentally friendly. We will further be approaching investors in order to expand our operations and manufacturing.”

Kiriti believes that if everything, in the beginning, is going your way, then you are on the wrong track! “For anyone who wants to start off, it is to surround yourself with folks who can offer constructive criticism for everything you do. That’s the only way you can ensure you are on the right track,” the entrepreneur ends it on an optimistic note.

You can visit Healthfab here or can connect via Facebook or Instagram.

With so many startups working in the femtech sector, the future is disruptive, competitive, yet demanding!

Stay tuned with NextBigWhat for more such innovative and informative stories! #TowardsABetterWorld

6 Best Online Team Collaboration Tools For Startups

6 Best Online Team Collaboration Tools For Start-Ups A Thread… #startup #digitaltools
1. Trello This tool is excellent for checking what a team member is working on and what particular stage tasks are in. Trello can be integrated with third-party apps like Slack, Google Drive, and Evernote.
2. Slack Slack is primarily a versatile team messaging app. It is a mobile and desktop app that allows you to send direct messages and files to a particular person or group. It can organise chats into channels for a specific topic, project, department, or company.
3. Asana Asana is an ideal collaboration tool for startup teams. The app allows you to create and manage to-do lists for their current and future projects and track their employees’ work assignments and progress.
4. Podio Podio is a newcomer in the pool of online collaboration tools but is quite efficient in getting work done. It is a great way to facilitate collaboration and communication among teams, allowing them to organize large projects and assign tasks.
5. Microsoft 365 Formerly known as Office 365, this tool is one of a kind for online collaboration. Microsoft 365 is Microsoft’s collection of cloud-based office tools. All the tools are extremely capable and easy to use.
6. Flock Flock is an online collaboration application with essential productivity tools. It provides unlimited individual and group messaging and an archive for up to 10,000 searchable messages. It allows 10 public channels and 5 GB of total file storage space per team.

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth.

Read more posts on Entrepreneurship and Marketing here. For podcasts, click here!

ALSO READ:
#StartupResources: How To Make It As A Solo Founder?
#LeadershipDevelopment: What Great Leaders Should Do (And What They Should Not!)
#StartupResources: Tips To Stay Organized And Productive!
Why You Shouldn’t Raise Too Much Capital Before Finding Your Product Market Fit?

9 Tools For Your Mobile App Startup

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth.

Read more posts on Entrepreneurship and Marketing here. For podcasts, click here!

ALSO READ:
#StartupResources: How To Make It As A Solo Founder?
#LeadershipDevelopment: What Great Leaders Should Do (And What They Should Not!)
#StartupResources: Tips To Stay Organized And Productive!
Why You Shouldn’t Raise Too Much Capital Before Finding Your Product Market Fit?

5 Tips To Win (And Satisfy) More Customers!

Customer satisfaction is one important factor that businesses need to focus on. Here are 5 tips that can help you in satisfying and winning more customers!

1. Improve how you measure customer service:- You can use net promoter score or customer satisfaction score or through tracking business metrics which matters most to you.
2. Speed up response time:- If your customers are having any problem then they will need the solution as soon as possible. Faster the response, more will be the customer satisfaction.
3. Create a customer centric culture:- Make your whole team customer centric. Make each and every department to think about customers first.Customer-centric companies are more profitable and enjoy better work cultures.
4.Get creative on social media:- It’s the best way to connect with your customers, to interact in a better way. It is necessary for brand awareness also.
5.Provide the value:- This is the most important goal, whatever product or service you are providing must be able to add value to your customers which can retain them for long term. Give them a unique reason to stay with you for long.

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth.

Read more posts on Growth and Marketing here. For podcasts, click here!

ALSO READ:
#StartupResources: How To Make It As A Solo Founder?
#LeadershipDevelopment: What Great Leaders Should Do (And What They Should Not!)
#StartupResources: Tips To Stay Organized And Productive!
Why You Shouldn’t Raise Too Much Capital Before Finding Your Product Market Fit?

5 Reasons Why Investors Might Not Want To Invest In Your Business!

No investor wants to lose money and so they’re particular about which startups they fund.  Here are some reasons why investors might not want to invest in your business. Thread #businessplaninnigeria #businessplan #funding #startup #nysc #retweet
1. You’ve approached the wrong investor. If you approach an investor who has no interest nor experience in your sector or market, then it’s very unlikely they will invest.
2. You have no coherent business plan. Without a solid business plan, the investor you approach will have no idea whether your startup is worthy of investment.
3. Your startup is not financially sound.  Investors like startup founders with some financial intelligence. If you’re spending too much money on products and strategies that do little to grow your business, this will reflect poorly on you
4. Absence of marketing strategies When you have no substantial strategies to make sure your product or service keeps reaching your target audience, investors will most likely not invest.
5. Absence of business acumen Investors recognize and respect a shrewd entrepreneur. You gain their trust when you demonstrate confidence and business skills.

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth.

Read more posts on Entrepreneurship and Leadership here. For podcasts, click here!

ALSO READ:
#StartupResources: How To Make It As A Solo Founder?
#LeadershipDevelopment: What Great Leaders Should Do (And What They Should Not!)
#StartupResources: Tips To Stay Organized And Productive!
Why You Shouldn’t Raise Too Much Capital Before Finding Your Product Market Fit?

20 Tips I wish I Could Give To My 20 Year Old Self!

Startups taught me more about life and business than I ever could imagine Thread: 20 tips I wish I could give to my 20 year old self
Startups are simple: There are good times and bad times Good times: enjoy the ride Bad times: enjoy the ride
Beware of pessimistic people Pessimism is the worst disease
Professional lies we tell ourselves: 1. Your email inbox is getting stuff done 2. A full calendar is positive 3. Big meetings are the answer You know better
FAANG give you credentials Startups give you education
Bob Dylan on the common sense behind criticism “Don’t criticize what you can’t understand.” There is nothing easier than being a critic A tremendous waste of energy and bad vibe
On the life at a startup: I’ve never met a startup that has gone according to plan Buckle up
Emotional decisions kill startups, careers and your day How to avoid making emotional decisions: 1. Wait Point: If you can wait, wait
Be kind to yourself A recipe for failure: 1) Being compulsively critical 2) Being massively unforgiving Being too hard on yourself is a hindrance to growth Reminder: you are enough
The greatest productivity trick: Listening to people you respect You won’t be able to get them out of your head They will make you better Tip: the internet makes it easy to find and listen to these people
Elon Musk on what it takes to change the world “I could either watch it happen, or be part of it.” Say less, Elon
Good habits are life’s magic pill
Reading fast: defeats the point of reading Read slow to really learn
A sweet illusion: You are in control
A true sign of success: Someone who doesn’t keep track of failures
Unlearn: filling your life with possessions Learn: filling your mind with mastery Everyone could become a master Literally, everyone
Free: – Exercise – Go for a walk – Being in nature – Sharing knowledge – Learning from others – Listening to others – Asking for help – Being kind – Positive attitude – Twitter The amount of growth you can experience for free is massive
Expensive: – Spending time with the wrong people – Populating feeds with toxic content – Spending too long at a job – Spending not enough time at a job – Chasing startups for the money
Product/market fit happens when you least expect it
Realization: People don’t support your company’s vision. They support their own vision of the world
#1 behavior of successful people: Thinking clearly
I write weekly threads Follow me @gregisenberg to stay up to date

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth.

Read more posts on Entrepreneurship and Leadership here. For podcasts on startups, life and business, click here!

ALSO READ:
#StartupResources: How To Make It As A Solo Founder?
#LeadershipDevelopment: What Great Leaders Should Do (And What They Should Not!)
#StartupResources: Tips To Stay Organized And Productive!
Why You Shouldn’t Raise Too Much Capital Before Finding Your Product Market Fit?

13 Tips & Examples To Craft A Perfect Headline!

80% of readers only scan headlines. This makes headlines a magnet for eyeballs. Here are 13 tips and examples to craft a perfect headline 🧵
1. Use Numbers or Data Numbers are brain candy. It automatically helps us visualize context and organize info. And pro tip: odd numbers work best. Example: 7 Copywriting Tips to Turn Scanners Into Readers
2. Use A Rationale This means nothing more than giving a good reason for why an action should be completed. That reason should be value-driven, so they’re urged to click. Example: 9 Uncovered Secrets to Boost Your Site’s SEO
3. Rhyme A conducted study showed that “Rhyme as Reason” was rated as more likable, trustworthy, original, memorable, and persuasive. Example: Delightfully Capable. Surprisingly Affordable. (h/t Apple)
4. Use Alliteration Alliteration is the repetition of the same sound in a series of words. It’s poetic like fashion makes it easy to remember. Example: Don’t Dream it. Drive it. (h/t Jaguar)
5. Avoid Sound Smart Adjectives Using sound smart adjectives doesn’t make you sound smart. Consumers can read right through the BS. Bad Example: 7 efficacious copywriting tips. Good example: 7 persuasive copywriting tips.
6. Offer A Test It’s nearly irresistible to pass up a challenge. That makes using offering a test a clickable headline. Example: Does your site pass the SEO test?
7. Drop a Hint When we’re hit with a cliffhanger — we’re intrigued. We naturally want to know the answer. This works for headlines too. Example: This Instagram Ad Secret Dropped Conversation Rates by 20%
8. Share Your Experience People connect with people. Sharing your experience is a great way to connect with your audience and build trust. Example: What I learned about going viral after writing 50 Twitter threads.
9. First 3 Words. And Last 3 Words. Because people are scanners, the first 3 words and the last 3 words are the most important. Start with a punch. And end with one too. Example: (7 Facebook Ads) That I Used (To Increase Sales)
10. Get To The Point Don’t waste any words. Wasted words equal wasted time. Start with a keyword. Then get to the point. Example: Better soles. Stronger feet.
11. Open-Ended Questions Open-Ended questions spark discussion. Perfect for creating an engaged audience. Example: Is it a good idea to invest in Bitcoin?
12. Close-Ended Questions On the other hand, close-ended questions spark curiosity. Example: Did you invest in Bitcoin too late?
13. Problem. Solution. Address the problem. Express the solution. Example: Your sale page doesn’t convert. Here’s how to fix that.
Would this help you? – marketing breakdowns – copywriting tips – how-tos – growth strategies – campaign dissection If so, follow @alexgarcia_atx 🙂 I drink too much coffee and spend too much time on the internet to write valuable marketing threads for yah. I promise.
TL;DR 1. Use Numbers 2. Rationale 3. Rhyme 4. Alliteration 5. Avoid “Sound Smart” Adjectives 6. Offer A Test 7. Drop a hint 8. Share your experience 9. First 3 & last 3 words matter 10. Get to the point 11. Open-ended questions 12. Closed-ended questions 13. Problem. Solution.

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth.

Read more posts on Growth and Marketing here. For podcasts, click here!

ALSO READ:
#StartupResources: How To Make It As A Solo Founder?
#LeadershipDevelopment: What Great Leaders Should Do (And What They Should Not!)
#StartupResources: Tips To Stay Organized And Productive!
Why You Shouldn’t Raise Too Much Capital Before Finding Your Product Market Fit?

Real Life Case Studies: 6 Websites To Help You Learn Marketing From!

In between several courses and ebooks that are available online to learn from, here are 6 websites to learn marketing – all via real life case studies.

6 Kickass Websites to Help You Learn Marketing Through Real Life Case Studies 🧵👇 #MarketingTwitter
Thank you for exploring, do follow these amazing websites and get marketing insights. Follow @FuelerHQ for more amazing threads.

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth.

Read more posts on Entrepreneurship and Marketing here. For podcasts, click here!

ALSO READ:
#StartupResources: How To Make It As A Solo Founder?
#LeadershipDevelopment: What Great Leaders Should Do (And What They Should Not!)
#StartupResources: Tips To Stay Organized And Productive!
Why You Shouldn’t Raise Too Much Capital Before Finding Your Product Market Fit?

#LeadershipDevelopment: What Great Leaders Should Do (And What They Should Not!)

Important lessons in your career can come from brief interactions with effective leaders. I had one of those interactions with Charlie Bell at Amazon 20 years years ago, and I’ve never forgotten it. Here’s what happened:
I was a middle manager in Amazon’s retail business and Charlie was a vp of engineering (on his way to svp and co-founder of AWS). We were working on something urgent, I don’t even remember what it was. But I remember Jeff Bezos was not happy with me.
I ran into Charlie at the company picnic. I pulled him aside and said “we need to do something right away because Jeff is pissed.” He looked me in the eyes and said “let’s forget about Jeff for a minute, what’s the right thing to do here?”
This was an aha moment, it never occurred to me there could be a difference between what Jeff wanted and what we should do. But I knew there was a better answer. We discussed my recommendation and Charlie agreed with me. Then we talked about how to get Jeff on board.
It’s hard to push back on the CEO, they have the most context and power. But their context is wide and shallow, and sometimes they miss important nuance. The job of a senior leader is to fill in that nuance by framing decisions clearly and escalating efficiently. Not to complain.
Many years later I found myself in a situation at Facebook that reminded me of this lesson. Zuck and I disagreed about something that seemed existential to the business, and he asked me to take it to the board for their input (to his credit, he took our debate to the board).
Several weeks later I ran into FB board member Reed Hastings, and he asked me if we had made a decision. I told him it would be much easier for me to just do what Mark wanted, but I didn’t think it was the right thing for the business. Reed encouraged me to keep making my case.
At the end of the day, the CEO gets to decide. But until they make their final decision, a leader’s job is to make their case. Great CEOs encourage dissent and leave space for debate. Great leaders have the ability to discern that space, and agility to make their case effectively
Great CEOs are also stubborn, decisive, impatient and wicked smart (trust me, I worked for two of them!), which makes it difficult to push back. It’s natural to just do what they ask now and complain about it later. Effective senior leaders know to do the opposite:
They make a strong case, patiently working through the pros and cons and debating for as long as the decision is left open. And when they lose a debate with their CEO, they disagree and commit, and start selling the decision to others so there’s alignment up and down the org.
I often disagreed with Bezos and Zuck, but I trusted them. They encouraged debate, were right more than they were wrong, and they had a special knack for being really right about the big stuff. If you don’t trust the judgement of your CEO, you’re working at the wrong company.
If I couldn’t convince Jeff or Mark to follow my recommendation, I viewed it as my failure not theirs. I looked at the decision through their lens, always wider than mine even if sometimes shallower. I didn’t complain, and I never said I told you so (neither did they). Onwards!

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth.

Read more posts on Entrepreneurship and Leadership here. For podcasts, click here!

#StartupResources: How To Make It As A Solo Founder?

Being a solo founder is tough but not impossible – it can make your startup & can kill it too. Kuljit Jagpal’s thread is a quick motivation for people who are trying to make it as a solo founder. If you are of them, this post is for you!

A little late night Monday early morning Tuesday motivation . Sharing a little bit of research that I volunteered for (thanks for the inspiration JM- it’s been a very helpful exercise). Solo founders, here’s a thread 🧵   #startup #founder #solefounder #cofounder #solofounder
Have to agree – even though it looks like it’s just a solo founder, it’s often not. Just the PR friendly/ pitch ready / face of the startup. I think the following are solo founders, here they are in no particular order. #startup #founder #solefounder #cofounder #solofounder
Building startups are hard , lots of things in life are hard …. it doesn’t make them impossible as all these founders show ⬆️. 👏🏽

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth.

Got any tips or tricks for entrepreneurs to make it as a solo founder? Share with us, and we will share it with the masses!

Read more posts on Entrepreneurship and Productivity here. For podcasts, click here!

#StartupResources: Tips To Stay Organized And Productive!

Meeting with a founder and they asked what tools I use to keep organized. To be honest, I don’t feel very as productive as I want to be but happy to give a little #thread 🧵 on the tools / tips I use and learnings. 👇 #productivity #startup #hustle
2/ At the start of the week I spend about 30 minutes focused on what needs to get done. This is usually done by reviewing my calendar (using fantastical) and also my todo list using @todoist which has an Upcoming view. I have learned over time that there is a max amount…
3/ Of todo’s that can be done for me on a daily basis so I work really hard to only allocate that per day (which is 4 for me but might be different for you). If I have more than 4 in a day I look at those items, stack rank them, and then move the ones on the lower and if…
4/ needed inform the person(s) that could be affected by that change. In addition to this many of you have a CRAZY calendar 🗓️ where there are meetings all over the place. This is hard as with every company / work environment the rules are different…
5/ The first step is to go to your calendar and decided what time you need to block off to actually do work. Yep. go and do it now. Just block that time off. Then stay firm on it as most people will adjust. If you …
6/ Find yourself still booking meetings there find another time to block off that is less hot as with every company there are hot windows (Palmetto has more in the morning and less in the afternoons).
7/ The second item is to allocate time where you are good with “random” meetings on your calendar. I usually have 3-4 slots a week. Then go and get something like @Calendly and just allocate those spots. You can send out your personal link and people will just use those spots. 💥
8/ As always, this is just a couple quick tricks that I have learned that work for me. What things work for you as I am constantly looking to optimize things?

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth.

Read more posts on Entrepreneurship and Productivity here. For podcasts, click here!

Why You Shouldn’t Raise Too Much Capital Before Finding Your Product Market Fit?

Seeing a lot of startups closing big rounds in the pre-B stage which is great for the startup ecosystem but it seems to be getting very frothy and I wanted to share my experience from raising way too much capital for my previous company Shyp prior to finding product market fit.
For starters it’s really hard as a founder to see your peers or competitors raising massive rounds and not to do it yourself. I got caught up in this trap and looked at funding rounds as a gauge of success.
This is a trap unless you have product market fit. Taking on lots of capital at big valuations puts so much pressure on yourself & raises expectations for everyone involved in your company. It forces you to hire faster, spend more on S&M, build more product features etc.
If you haven’t validated you have something your customers love and you can scale to produce the expected venture return this can be (and was for me) one of the nails in your coffin.
Without having product / market fit extra capital forces you to scale something that is not yet working. Constraints are one of the main advantages a startup has. Stay as small and scrappy for as long as it takes to find that fit. A startup can do this when an incumbent can’t.
After shutting down Shyp and starting @AirhouseHQ we had the opportunity to raise a $10M “seed” but chose not to because that would have forced us to scale up the team way too fast and limit the customer / product discovery even though we had a pretty good idea of what to build.
Turns out that was the right choice. We raised our “seed” w/ a fair valuation in small chunks based on what we needed for the next year+. It allowed us to keep expectations with our investors and our team low until we found our fit (which we now have and are scaling up).
Stay safe out there and remember you can say no when someone offers you capital. You know your business better than anyone else and it’s important you are honest with yourself at which stage you are at.

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth.

Read more posts on Entrepreneurship and Product Market Fit here. For podcasts, click here!

10+ Early Traction Growth Hacking Strategies For Startups!

The rise in digitization and seamless connectivity has seen a boom in business development. A news article by the Telegraph shows that in 2016 there were 80 new businesses alone in the United Kingdom! Given this sharp increase and fascination towards entrepreneurship, another report states that only 25% of a new business lasts for 15 years or more, and 20% of the new business fail within a year! Thus, it is essential to understand business or product growth hacking strategies.

There are various strategies that a company or a business might consider to scale and sustain their product. Growth Hacking strategy is a buzzword that allows a business to scale quickly ― a technique that is accepted by experimentation. The process involves all the crucial components – marketing, design and development, engineering, and, yes, data analytics.

Growth Hacking Strategies

Some elaborate strategies are mentioned, which might help your customer find a quick and cost-effective solution to find new leads and build a solid user base.

Strategies to Develop at Pre-Launch

A study by Gartner states that a company needs a lot of time and effort to build a long-lasting product and sustain future generations.

Considering every aspect, an organization must strategize clearly – what their goal is. Even before you start, your marketing strategy should be solid, and you should let the mass know about the new product.

Pre-Launch Advertisements

Why not let people know that a new product is coming? Increase the Hype? Well, building hype is excellent! For instance, a popular video game Cyberpunk 2077, made so many promotional events before the game’s launching event that it became one of the most-awaited games.

Likewise, as an entrepreneur, you can strategize to let the mass know about your product. Pre-Launch Email List is a good starting point. It allows one to reach a targeted audience and deliver the correct message.

Pre-Launch Offers and Discounts like an additional one-month free subscription! The strategy allows you to build funds for your product – even before the launch, also you know precisely how many people are waiting in line.

Strategies at Product Launch

A company needs its advertisements. Portals like Product Hunt curate the new products in technology and let the user know.

Leveraging Referral Marketing – once your product is launched, and you have some customers, let them bring you more! Sounds great! Yes, this strategy is applied for products like CRED, American Express, and Google-Pay. There are always some self-cost requirements, but it is an effective solution!

Brand Partnerships and Launch Events

A Launch Event is where you get to market your product and understand new players in the same field. Another excellent advantage is that you get to build new connections that might give you potential good leads for your product – a remarkable growth hacking strategy!

Partnership and Collaboration with well-established business are perhaps one of the best strategies. It gives a solid buzz and news coverage!

Social Media and Digital Marketing

Social media plays an important role. A tweet at the correct time can do wonders! A single tweet by Elon Musk let the dogecoin see a 2800% rise in its valuation!

Well, that was lucky! But, advertisement and building hype in the social media platforms like Facebook, Twitter can bring wonders to your products. It is a very cheap and cost-effective way to let the mass know!

The HARO Strategy

Consider Helping A Reporter Out (HARO) as a forum for displaying your skills as one of the best growth hacking tips. It is not a tool for developing your brand; instead, it is a place to read different questions from journalists that may or may not be necessary to your domain.

Yes, it will take a lot of time, but it will be well worth it if done correctly. Consider it a worthwhile venture if you can spare 30 seconds three times a day to read their newsletters.

Market Analytics

Understand various points and strategies that you have applied – and learn which activity is bringing you customers, and which is not – and Why? In short –

  • How do I ensure that a transaction is credited to a user who reads material on our blog and then signs up?
  • Which paid traffic sources are the most effective in terms of ROI?
  • Which landing pages are converting the best for us?
  • Do smartphone apps convert?
  • Is there a group of users that convert well? How can we define that so that we can find more of them?
  • How do I use Analytics to detect errors?

Company Profile and Reputation

Platforms like GlassDoor analyze a company’s work status based on user reviews of past and present employees. Likewise, research for a suitable venue which your competitor uses – advertise and grow your company’s image.

Build some helping guides or tutorials that will let your user know how to use your product seamlessly. Also, it brings you new customers – since by knowing what it can do, and how it can be done – I might consider using it too!

These are some of the cost-effective strategies that can help you reach out to the masses – bring you valuable customers. One must strategize and choose among these channels – a combination of this and a bit of that!

What was your surviving strategy? What did work for your business? Share your learning with us, and we’ll be happy to share it with the masses!!

Product Management | Entrepreneurship | Growth & Marketing

How a Harvard Dropout Joined the Global Billionaire’s Club!

Kudos to Masa Son for investing $1B in a single round. That was BEFORE the Vision Fund. No one was doing such rounds back then. Only he could do such a thing. Masa is Japanese but ethnic Korean and one of Bom Kim’s heroes while growing up. He wanted to meet him.
Bom and Richard Song (former CFO, now one of my partners at Altos) met with Softbank in Silicon Valley. No Masa. But meeting went well and they suggested they try to catch Masa who was in Las Vegas. Masa agreed to give them 30 min prior to a golf tee time. The duo flew to Vegas!
Masa sat there and listened for 30 minutes. No slides. Just talk. That turned into multiple hours. Masa canceled his tee time. He saw the vision. HUGE bet to invest in physical infrastructure to change the game in Korea. Much more ambitious than what Amazon was doing in US
What Coupang wanted to do in Korea could not be done in the US. Korea is so much more dense. It cannot be done in China either. There was no FedEx or UPS. To do it, Coupang had to do it all. It was not just logistics or physical infrastructure. The entire tech stack did not exist
You cannot go out and find SaaS vendors to help do what they wanted to do. They had to write every piece of software. Everything had to be created from scratch. But they already had a large business that was growing FAST. So how do you do it??
It was a crazy ambitious effort all around. It was as if the plane was already in the air but the landing gear was not in place. And you had to rip out the engine and replace it. Had no idea if the plane could fly let alone land safely.
As crazy as that sounds, Coupang had one thing going for it that no US, Chinese or Indian startup had. It has $1B. Korea was such a small country that no major global VC was going to enter the market. No one else could possibly raise $1B to challenge Coupang. It was their to lose
In the other major markets, you can have multiple huge competitors raise billions in funding to go after a market. They will beat the crap out of each other. They will lower prices. Negative gross margins would not be out of the question, especially in China!
In a place like China, its a war of attrition. You have to get not only a deep pocket like SoftBank on your side, but bring in the real big guns. Tencent and Alibaba. Those battles are happening all over Asia. But NOT in Korea at the time. Still not happening.
At the time, the best thing that could have happened to Coupang was a major market crash or recession. We actually wanted such a thing to happen. If you have cash, when others cannot raise, you have an incredible advantage. But the crash never came.
Not only did the crash not come but it was far more expensive and too far longer to build it all out than imagined. We could not imagine burning through the entire $1B but they needed more. Again, kudos to Masa. By this time, VisionFund was in place and he committed another $2B.
No one else on Earth could commit an extra $2B to a company in Korea. But by then Masa had seen Bom operate. This was no ordinary entrepreneur. The childhood hero and prodigy had bonded. They decided to go for it. And the rest is history.

» NextBigWhat’s #Threadmill brings you curated wisdom from Twitter threads on product, life and growth. Read more posts on Entrepreneurship and Startups here!

Remote Teams Management Hacks

According to a survey done by Gartner, ‘74 % of CFOs plan to shift some employees to permanent remote work’, even after the pandemic ends.

There’s no denial in the fact that remote jobs are more preferred by people than the regular ones ― especially now ― more than ever!

According to a study done by Owl Labs, some of the major reasons people prefer to work remotely are:

  • Better work-life balance (91%)
  • Increased productivity and better focus (79%)
  • Less stress (78%)
  • Avoiding a commute (78%)

Oh, and let’s not forget the everyday hassle ― right from deciding your lunch boxes to your outfits!

But as fancy and comforting as it may sound, remote work has its downsides which are mostly faced by the managers, CXOs and other senior management employees, particularly those who lead larger teams.

And, moreover, let’s not forget how remote jobs hideously takes away the beauty of collaborating with other people and the effectiveness of offline brainstorming sessions.

To tackle this, organisations need to come up with a much hybrid model that doesn’t take away the benefits of remote culture and eschew its downside too. Here are some basic yet very effective hacks that one can adopt for better remote teams management.

Hire smartly

Create a solid hiring and onboarding process. Use the right platforms to find the right talent. While hiring, keep the demographics and timezones in check to avoid any future complications.

Make a plan

Try to plan out everything on a daily basis. Make notes. Keep track of workflow. Schedule and run virtual team meetings effectively. Do not extend them unnecessarily; in fact, keep the communication limited to work management tools as much as possible.

Keep a check

And while the workflow has to be smooth and effective, do not forget about the people accountable for those tasks. Check-in with individuals on your team regularly. Make sure they aren’t facing any troubles. 

Keep experimenting

With the ever-growing popularity of remote jobs and the constant launches of new products and tools every day, it is necessary to keep experimenting with the products (not all, though) ― but keep hustling until you don’t find the right sets of tools for your team. Learn and implement digital productivity tools and train your team as well.

Some of the factors you should consider while choosing a tool:

  • For better communication
  • For better track of work
  • For smooth work meetings

And while there could be other tools depending on your job roles, do not forget the one that helps in bonding the team better.

Be flexible

Ah, probably the most important point to take note of! Remote workers are not limited to a particular city, let alone a nation anymore. So as your team spread over continents, spread the work-timings as well. Keep the timezones and remote employee boundaries in mind. Let them work at their pace.

Socialise

No, not with your team members only, but also with the other departments of your organisations. Now, this is something startups or companies with smaller teams may ignore, but people working in larger organisations do need to align with other teams virtually. This helps in building a great work culture overall (and gets you more watercooler conversations too!)

Be inclusive

People today are vocal and outspoken more than ever! And this helps them in building a great rapport with people everywhere. So while you may feel that you’re leading one fun of a team, make sure that no one is missing out in that crowd. Ensure that all the teammates feel included. Get on one-on-one calls or discussions, if required, and help your team in growing individually.

Bond well

First thing first, do not mix up the terms’ socialising’ and ‘inclusion’ with bonding. Your team may get along well with their colleagues from other departments, or they may grow beautifully on a personal level, but everything’s in vain if they don’t get along with their internal team members. Identify opportunities for virtual team bonding. Plan stress-busting fun activities and help them in resolving conflicts, if any.

Encourage empathy

Your go-to mantra to build an overall great remote team! Connect with people. Try to relate to their situations and show empathy when required. Encourage them to empathise with each other and help them in unfavourable situations. Use emotional intelligence at all times and practice this both in-office and out-office.

While there are so many other points to take into consideration, these are the basic foundation of building and managing remote teams. The rest could be developed by your team itself ― over time ― along with each other!

How did you manage your remote teams? What measures did you take to build the culture you are cherishing right now? Share with us in the comments below!