86. The #1 Mistake People Make Scaling Their Business & Hacking Growth | Sean Ellis

The ONE Thing

NOVA Media

Business, Careers, Entrepreneurship

4.8 • 1.1K Ratings

🗓️ 30 October 2017

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

So many people trying to grow a successful business create a product, try to sell it, and then focus on scaling... but they're making a massive mistake. We made this same mistake in our business, too, for at least a year. Then we heard about the book Hacking Growth, and it changed the way we thought about marketing. Sean Ellis is the author of Hacking Growth, and he was responsible for scaling businesses like DropBox, EventBrite, and LogMeIn – and those companies achieved tremendous levels of success because they did ONE thing differently. The ONE Thing to Implement From This Episode: We challenge you to run a survey that helps you understand WHO your must-have users are and WHY they consider your product a must-have. The first question: How would you feel if you could no longer use ? They can answer Disappointed, Somewhat Disappointed, Not Disappointed, or Not Applicable (I no longer use it). The follow-up question: What is the primary benefit that you have gotten from this product? In this episode you will learn... [1:40] What "hacking growth" really looks like. [5:45] How Sean improved the usage rate of a product by 1000% in just four months (and the unexpected way that affected company growth). [9:20] What it means to create a "must-have" product. [13:20] How to identify whether or not your product is considered a "must-have" (and then leverage that data). [19:00] How you can foster more love for a product. [24:30] How to hone in on your most beneficial product features (and why it is important). [35:00] The ONE metric you need to figure out. AWESOME FREE RESOURCES FOR YOU! Form your first power habit with your 66 Day Challenge Calendar Check out our awesome blog! [FREE Training] How to Start Time Blocking TODAY! Links & Tools From This Episode Connect with Sean: Twitter | LinkedIn Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success by Sean Ellis & Morgan Brown Get your FREE audiobook copy of Hacking Growth! If you enjoy listening to podcasts, you probably also enjoy listening to audiobooks, and that’s why Audible is sponsoring this episode. If you go to audible.com/onething, you can create a free account and get a free credit for your first book, which could be Hacking Growth. Do you ever feel like you’re so focused on the future that you forget to be present in the moment? We know that stopping to celebrate the moments that matter is required, and that’s the purpose behind JavaPresse Coffee Company. Everything JavaPresse does is designed to help you enjoy a moment that you craft for yourself, every day, and their coffee is unique because it’s organically grown, ethically sourced, and roasted fresh to order. To craft your next moment that matters, head over to the1thing.com/coffee and use the coupon code ONETHING to get 15% off your first three months of shipments. Production & Development for The ONE Thing Podcast by Podcast Masters Mentioned in this episode: Factor 75 Head to FactorMeals.com/one50 and use code one50 to get 50% off. That’s code one50 at FactorMeals.com/one50 to get 50% off! Factor 75

Transcript

Click on a timestamp to play from that location

0:00.0	This is the One Thing podcast where we teach you the surprisingly simple truth behind extraordinary results.
0:08.0	My name is Jeff Woods. I'm the Vice President here at the one thing team.
0:14.0	So many people when they start a business or want to scale a business, they create a product or service,
0:20.0	they go out to sell it and then they try to sell more of it, whether that be through a sales force through advertising
0:27.4	They create something and they focus on scale
0:30.9	The challenges they're making a tremendously large mistake. This is a
0:37.7	mistake that we have been making in our business for at least the first year.
0:44.4	This all came about because I had a conversation with a friend of mine
0:47.8	named Mike Dillard.
0:48.8	Mike is somebody who I look up to when it comes to the marketing and advertising game.
0:54.8	He has done extraordinarily well.
0:56.6	He's made a lot of money helping a lot of people.
0:59.0	And when he read this book, Hacking Growth,
1:02.0	it made him realize he knew nothing about marketing.
1:04.0	Because he was making the exact same mistake that we've been making and that you're
1:08.9	probably making right now. So I am excited today for you to meet the man who was in charge of
1:16.8	helping scale the growth of companies like Log Me In Dropbox, Eventbright.
1:24.1	This helps some company scale to incredibly massive levels
1:27.5	because they did one thing differently.
1:31.8	With that, let's get into our conversation with author of the book
1:35.7	Hacking Growth, Sean Ellis. I am so excited to share this. You all know I am an avid learner and I am constantly looking for the edge I can find through new knowledge and incredible mentors.
1:58.0	Which is why I absolutely love Masterclass so much. I've taken the art of negotiation with Chris Voss, which has been instrumental in my ability to communicate and
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from NOVA Media, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of NOVA Media and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.