- Startup Strategist by stratup.ai
- Posts
- Product market fit and growth hacking
Product market fit and growth hacking

Welcome to Startup Strategist by stratup.ai. It's Friday, and we hope today's topics will interest you.
Estimated read time: 3-5 minutes
News stories: (1) “Collaborative Robotics Locks Up $100M” (Crunchbase) (2) “Walmart will deploy robotic forklifts in its distribution centers” (TechCrunch)
Startup info: Product market fit and growth hacking (EO)
Resources: (1) Hard-tech (2) Branding (3) Hard lessons
StratupAI Generated Idea: Cloud-Based IT Asset Management Platform for Enterprises
Sponsored By
The easiest way to start your online business!
Tired of the 9-5 grind?
Afraid of looking back 10… 20… 30 years from now and thinking…
“What if I’d tried?”
“What if I’d launched my idea into an online business?”
“How much could I have provided for myself and my family by creating a highly profitable business I was proud of?”
Don’t let your entrepreneurial dreams escape!
If you can commit just 5 Days now, we’ll show you how to build and launch your online business
Even if you have zero tech skills
No product to sell
And no idea where to start
Would it be worth 5 days to change the course of your life forever?
Tap learn more to grab onto this opportunity while you still can!
News
1) “Collaborative Robotics Locks Up $100M” (Crunchbase news)
They plan the robots to “work alongside humans in sectors like manufacturing, healthcare, retail and more” (Crunchbase)
2) “Walmart will deploy robotic forklifts in its distribution centers” (TechCrunch)
They write that “In addition to efficiency, properly automated systems bring an added sense of safety.” (TechCrunch)
Product market fit and growth hacking (EO)
Sean Ellis is known for coining the term ‘growth hacking’, which involves considering the entire lifecycle of a customer, from “acquisition, activation, retention, monetization, and referral.”
I recently watched his interview on the EO YouTube channel, and these are my takeaways.
Ellis says the activation phase is the most important part of growth and retention, and contrasts this to efforts made solely for the purpose of acquisition or awareness.
This is why he says the product team is an important part of growth, because of their relationship with the so called ‘activation stage’. (which involves the customers initial experience with the product.)
“The only way to be competitive on acquisition is to focus on the entire customer journey.” (Sean Ellis, EO)
To clear a misconception that may arise given the connotation of the term ‘hack’, Ellis says “the best growth hacks are not things that trick people, but rather its finding where people get confused with the product.” This relates to the idea of friction. Generally systems with the least friction win, and this tends to be mutually beneficial. (Though at the same time there are areas or times when a certain level of friction is preferred).
Something that relates to a quote from Sam Altman (where he discusses the importance of iteration speed) is the benefit of doing a high volume of experiments.
Ellis describes how, since it can be hard to determine what strategy or method will work best (even though false confidence is common), the way to maximize the potential for outsized performance is testing as much as possible.
Regarding churn and retention, a question he likes to ask customers is “how they would feel if they had to stop using the product” (as a leading indicator). Product market fit is quantitatively determined by what percent of customers you retain.
Resources
“Many enterprises struggle with managing their IT assets efficiently, leading to issues such as overspending on unused software licenses or hardware, security vulnerabilities from unmanaged devices, and difficulties in tracking equipment across different departments. A cloud-based IT asset management platform for enterprises could provide a centralized solution to track, monitor, and manage all IT assets within an organization. This platform could offer features such as automated asset discovery, inventory management, software license optimization, compliance tracking, and reporting functionalities. By having a comprehensive view of their IT assets, organizations can reduce costs, improve security, ensure compliance, and optimize resource allocation.”
Disclaimer: The startup ideas shared in this forum are offered for general informational purposes and discussion. Individuals utilizing these concepts are encouraged to exercise independent judgment and undertake due diligence per legal and regulatory requirements.
That’s all for today, thanks for reading. See you on Tuesday.
Are you happy with this issue of our newsletter? |
Want to sponsor the newsletter? Contact us at [email protected]
(Image source: https://storyset.com/people)
The startup ideas, strategies, and suggestions shared in this forum are provided for general discussion and informational purposes only. Any individual or entity considering implementing these concepts should exercise independent judgment and conduct thorough due diligence in accordance with legal, regulatory, and industry-specific requirements. Startup Strategist does not guarantee the accuracy, completeness, or suitability of any information shared. It is recommended to consult with legal, financial, and other relevant professionals before proceeding with any business ventures or decisions.