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5 Key Steps to a Growth Strategy that Works Immediately w/ Nilan Peiris, VP Growth at TransferWise

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You know that your startup grows at the rate of which your KPIs move and by how much better your product is than the alternatives. But the limiting factor of growth is your team’s confidence. If they fear failure and you can’t build their confidence and conviction at scale, then that’s really gonna hurt you.

How do you make your teams push boundaries and embrace failure while:

- creating a mission driven startup
- making customers happy, sustainably
- building conviction
- And all of the above at scale?

The amazing Nilan Peiris, VP Growth at TransferWise, shared his 5 key growth strategies at TransferWise and how you can replicate this in your startup with us at The Family!

Nilan joined TransferWise’s growth team 7 years ago, as one of 60 employees. Now, 1500+ employees later, he’s the VP of Growth and has implemented incredible growth strategies which have underpinned the unbelievable success that TransferWise has achieved. He will share his 5 key growth strategies at TransferWise and tell you how you can replicate these to grow your startup. This is an exceptional individual you'll really want to listen to!

TransferWise:
A global tech company and the cheapest alternative to transfering money internationally. TransferWise customers send over £3bn every month, saving themselves £3m every day. It’s raised $397m from investors such as Andreessen Horowitz and Sir Richard Branson.



The Family:
The Family nurtures ambitious startups in Europe. Could it be you?
- A community of +600 founders & a team of 30 warriors on-demand
- An infrastructure of services to help you grow fast
- Access to the best capital in Europe (€500M raised collectively)

The Family is a minority, strategic and long-term associate in +270 startups in Europe. Based in Paris, London and Berlin, we provide education, tools, and access to capital to ambitious founders. Raised €500M for our portfolio so far. If we can help entrepreneurs make the most of the European ecosystem, we'll be happy!

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5 Key Steps to a Growth Strategy that Works Immediately w/ Nilan Peiris, VP Growth at TransferWise

  1. 1. @nilanp Product Growth People Growth
  2. 2. @nilanp 1. Growth at TransferWise
  3. 3. @nilanp 1. Growth at TransferWise 2. 5 steps to replicate this in your organisation
  4. 4. @nilanp @flat__mike
  5. 5. @nilanp 1. Growth at TransferWise 2. 5 steps to replicate this in your organisation
  6. 6. TransferWise was started to solve a problem @nilanp@nilanp
  7. 7. What is TransferWise What is borderless
  8. 8. @nilanp @flat__mike Moving more than £3 Billion per month
  9. 9. @nilanp @flat__mike Saving our customer more than £3m per day 30 price drops in the last 9 months
  10. 10. @nilanp @flat__mike Over 4m customers worldwide
  11. 11. @nilanp @flat__mike Over 2m debit card transactions + over £2bn in deposits
  12. 12. @nilanp @flat__mike
  13. 13. @nilanp @flat__mike Profitable for 2 years
  14. 14. @nilanp @flat__mike Evangelism is the biggest driver of growth
  15. 15. Why do people recommend our product ?
  16. 16. @nilanp Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters
  17. 17. @nilanp Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters Total Promoters - Detractors = NPS
  18. 18. @nilanp The NPS Richter scale
  19. 19. @nilanp 1 2 3 4 5 6 7 8 9 10
  20. 20. @nilanp If promoters > detractors you WILL grow
  21. 21. @nilanp N.B. This is hard.
  22. 22. It works ! (But barely)
  23. 23. It works ! (But barely) It works with no significant issues !
  24. 24. It works ! (But barely) It works with no significant issues ! It works. Wow that was slick
  25. 25. It works ! (But barely) It works with no significant issues ! It works. Wow that was slick You’ve just blown my socks off that was incredible
  26. 26. RATIONalRational Emotional
  27. 27. RATIONalProduct Mission
  28. 28. RATIONal Speed Price Convenience Coverage Mission
  29. 29. To achieve advocacy your product needs to be an order of magnitude better than the alternative
  30. 30. But don’t do this as “growth hack” do it because its the right thing to do
  31. 31. RATIONal Speed Price Convenience Coverage Mission
  32. 32. You can’t copy that !
  33. 33. Money without borders. Instant, convenient, transparent and eventually free We’re powering money for people and businesses: to pay, to get paid, to spend, in any currency, wherever you are, whatever you’re doing
  34. 34. @nilanp 1. Growth at TransferWise 2. 5 steps to replicate this in your organisation
  35. 35. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build a 10x product Step 4 - Marketing at TransferWise Step 5 - Scale @nilanp @cataflu
  36. 36. We are a Mission Driven Startup @nilanp @cataflu
  37. 37. A mission driven organisation is… … a catalyst for changing the world @nilanp @cataflu
  38. 38. We didn’t have a mission for our first 5 years @nilanp @cataflu
  39. 39. But we are were always customer led @nilanp @cataflu
  40. 40. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build a 10x product Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  41. 41. RATIONal Make customers happy
  42. 42. RATIONal Make customers happy Make money
  43. 43. RATIONal Make money
  44. 44. RATIONal Make customers happy sustainably
  45. 45. Have one list
  46. 46. But how do you explain this to shareholders ? @nilanp
  47. 47. @nilanp Customer led Growth
  48. 48. @nilanp Customer led Growth Create a huge amount of value
  49. 49. @nilanp Customer led Growth Create a huge amount of value Capture less than you create
  50. 50. @nilanp Customer led Growth Create a huge amount of value Capture less than you create Create a huge amount of good will
  51. 51. @nilanp Customer led Growth Create a huge amount of value Capture less than you create Create a huge amount of good will Word of mouth growth
  52. 52. Being customer led means putting customers ahead of shareholders Relentlessly listening to them will help you discover your Mission @nilanp Let your customers lead you (to your mission)
  53. 53. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build a 10x product Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  54. 54. Not all products generate customer led growth @nilanp
  55. 55. 10x products generate customer led growth @nilanp
  56. 56. How to build something that is 10x better than anything else in the market ? @nilanp
  57. 57. Build something that doesn’t exist @nilanp
  58. 58. Build something that you don’t know could ever exist @nilanp
  59. 59. @nilanp Singapore
  60. 60. @nilanp@nilanp UK
  61. 61. To build a 10x product you need to build something that doesn’t exist. This takes a long time - and usually has many set backs To get through these you need to build conviction on what matters to your customers @nilanp Build a 10x product
  62. 62. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build a 10x product Step 4 - Marketing at TransferWise Step 5 - Scale @nilanp @cataflu
  63. 63. What is the problem marketing is solving ?
  64. 64. Viral growth.
  65. 65. SEO.
  66. 66. Marketing teams can also focus on helping customers understand the value products create
  67. 67. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build a 10x product Step 4 - Mission driven marketing Step 5 - Scale @nilanp @cataflu
  68. 68. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp
  69. 69. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp Regulated and available Instantly and almost zero cost IdentityOnboarding Worry Evangelism Problem awareness
  70. 70. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp Currencies OperationsVerificationConversion Experience ViralityComparison Regulated and available Instantly and almost zero cost IdentityOnboarding Worry Evangelism Problem awareness
  71. 71. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp Central teams
  72. 72. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp Central teams Regional teams
  73. 73. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp Central teams Regional teams Use case teams
  74. 74. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp Central teams Regional teams Use case teams Platform teams
  75. 75. We have over 1,500 people working in autonomous teams today in offices from Singapore to New York @nilanp @flat__mike
  76. 76. Number of new users Time
  77. 77. Number of new users Time Size of transactional and support teams
  78. 78. Number of new users Time Size of transactional And support teams Probability of fucking up
  79. 79. New trajectory Time Size of transactional And support teams
  80. 80. We grow at the rate we hire and onboard our people to have an impact @nilanp
  81. 81. Number of new users Time Size of transactional And support teams Number of leaders in the organisation Leadership
  82. 82. Number of new users Time Size of transactional And support teams Number of leaders in the organisation
  83. 83. We grow at the rate we hire and grow our leaders so they can support our people in having an impact @nilanp
  84. 84. Once it’s working your growth rate is limited by the rate at which you hire and inspire people @nilanp Scaling
  85. 85. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Mission driven marketing Step 5 - Scale @nilanp @cataflu
  86. 86. @nilanp 1. Growth at TransferWise 2. 5 steps to replicate this in your organisation
  87. 87. @nilanp Onwards

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