How to kickstart and scale a consumer business—Step 3: Craft your pitch
Recession sale: Get 25% off an annual subscription for the next 48 hours by using the button below. Subscribing will give you access to this full issue—and every issue. Below is a peek at today’s subscriber-only post—part three of my six-part series on kickstarting and scaling a consumer marketplace. How to kickstart and scale a consumer business—Step 3: Craft your pitchLessons from Pinterest, Netflix, Tinder, Dropbox, DoorDash, Robinhood, Amazon, WhatsApp, and dozens of today’s most successful consumer businesses👋 Hey, I’m Lenny and welcome to a 🔒 subscriber-only edition 🔒 of my weekly newsletter. Each week I tackle reader questions about product, growth, working with humans, and anything else that’s stressing you out about work. Send me your questions and in return I’ll humbly offer actionable real-talk advice. Welcome to part three of our six-part series “Kickstarting and scaling your consumer business.” If you’re just joining us, here are links to previous posts, and a sense of what’s ahead:
The main question we’ll be answering in today’s post: How do you get your super-specific who’s attention? Again, a disclaimer: following these steps will not guarantee success. But it will increase your odds. People are busy. They’re bombarded with ads and life responsibilities, and have absolutely no reason to pay attention to your product. As venture capitalist Marc Andreessen put it, “Their time is already allocated.” To have any hope of grabbing someone’s attention, your pitch can’t be just good. It needs to be remarkable. Something worth remarking about. Watch this 30-second clip:
When Tony Xe launched DoorDash in 2013, he spent weeks going door to door trying to convince restaurants to sign up. It was a slog. He pitched them on the value of food delivery and mobile technology and on the promise of new customers. Growth was slow and restaurant owners were unimpressed. One day, he finally found a value prop that worked:
The product stayed the same, but the new pitch changed DoorDash’s trajectory. Similarly, when Scott Belsky first tried to convince designers to put their portfolio on Behance, he had a really hard time.
Eventually he adjusted what he was pitching designers, and his luck immediately turned around:
Netflix iterated on its product offering for 18 months and eventually found a hook that worked, as Marc Randolph (former CEO and co-founder) shared:
The question you need to be asking yourself: What is your remarkable hook? Here are some examples of great hooks that helped launch massive consumer businesses: Nail your hook and you’ll notice an immediate shift in interest, growth, and engagement. Miss the mark and you’ll continue to struggle. How to craft your hookThere are many approaches to coming up with your hook. I’ll share four. My advice is to try them all. Feel out which path leads you to something that excites you, grabs your potential users’ attention, and tells your story in as few words as possible. As you start to see what’s working and what isn’t, keep tweaking. Almost no one got this right the first time. Before you start, make sure you’ve come up with your super-specific who. Also don’t overthink the difference between a hook, a pitch, a value prop, a tagline, and positioning. They’re all important, but in the end, you need to figure out a way to describe what you’ve got, in a compelling way, and get someone to care. Here’s four ways to do this:
You can use this simple B2C GTM template that I introduced in the previous post to capture your ideas... Subscribe to Lenny's Newsletter to read the rest.Become a paying subscriber of Lenny's Newsletter to get access to this post and other subscriber-only content. A subscription gets you:
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How to kickstart and scale a consumer business—Step 2: Identify your super-specific who
Tuesday, July 12, 2022
Lessons from Substack, Netflix, Yelp, Discord, TikTok, Instagram, Cameo, DoorDash, and dozens of others
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Tuesday, July 5, 2022
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Kickstarting and scaling a consumer business
Tuesday, July 5, 2022
Step 1: How to come up with an idea
How to build trust in a marketplace
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Lessons from Lyft, Rover, Thumbtack, Snackpass, Peerspace, Shef, and more
Community Wisdom: Podcast update + prioritizing at an early-stage startup, playbooks for product discovery, demons…
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