Choose one engine of growth, and focus all your energy on it.
from The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries
Focusing on only one engine of growth at the time is much better for a startup. But of course, in order to grow your startup, you need the metrics in place, and to avoid vanity data. Focus on numbers, not on feelings.
How to Apply This
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The Sticky Engine of Growth.
The metric that you need is the churn rate - how many customers stop using your product every month. -
The Viral Engine of Growth.
The metric you need is the viral coefficient - how many new users start using your product, because of the reference of a current customer. -
The Paid Engine of Growth.
The metric you need is the lifetime value (LTV), and cost per acquisition (CPA). Make the LTV much higher than CPA.
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