The Power of Prioritizing Growth Opportunities and the Art of Compression

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Hatched by Glasp

Sep 28, 2023

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The Power of Prioritizing Growth Opportunities and the Art of Compression

In the world of growth engineering, identifying the right projects to prioritize is crucial for sustainable growth. It's not enough to focus on just one area of growth, as diversification is key to reducing the impact of potential losses. To start, you need to choose a north star metric that you want to grow. This metric will serve as a guiding star, helping you measure the success of your growth initiatives.

To determine the size of acquisition opportunities, you must have a clear understanding of your unauthentic traffic, signup conversion rate, and activation rate. This data will give you insights into the potential of various growth channels. However, a common pitfall for new growth teams is overinvesting in one particular opportunity that may not be yielding the desired results. It's important to keep an eye out for other promising opportunities that may be lying untapped.

In terms of specific growth opportunities, it is advisable to explore both acquisition and retention strategies. SEO can play a significant role in driving acquisition, particularly if your product has a strong web presence. By optimizing your web content and focusing on specific channels, you can increase your visibility and attract more traffic.

However, when working on new opportunities, it's important to strike a balance between planning and experimenting. Many teams fall into the trap of excessive planning without taking the necessary steps to learn and iterate. To overcome this pitfall, it's crucial to run quick experiments to gather data and insights. Experimentation is key to discovering what works and what doesn't, allowing you to make informed decisions about which opportunities are worth pursuing.

In the realm of content creation, the concept of compression is a powerful tool. Just like tree sap becomes maple syrup, experiences can be transformed into shareable creations. Full-time authors, for example, spend most of their time collecting experiences rather than constantly inventing new ideas. They sit down at their computers to mold the wet clay of experience into well-compressed stories.

The art of compression lies in the ability to convey the essence of an experience while simplifying and beautifying it. As Stephen Sondheim, the librettist of West Side Story, once said, "You have to throw out good stuff to get the best stuff." The goal is to make the irreducible basic elements as simple as possible without compromising the representation of the experience. Artists, however, often struggle with the limitations of their representations, as they can never fully capture the intricate details of the original experience.

Just like a map is not the territory it represents, compressed representations of reality have their own structure and usefulness. They serve as guides to help us navigate the complexities of the world, even if they don't capture every nuance. This concept of compression is essential in content creation, where brevity and clarity are key to capturing and holding the audience's attention.

In conclusion, prioritizing the right growth opportunities and mastering the art of compression are essential skills in today's fast-paced world. To effectively prioritize growth projects, focus on diversification and experimentation. Don't be afraid to explore different channels and strategies. And when it comes to content creation, remember that simplicity and clarity are paramount. Embrace the power of compression to convey the essence of experiences and engage your audience.

Three actionable advice:

  • 1. Diversify your growth initiatives by exploring multiple areas of opportunity.
  • 2. Run quick experiments to gather data and insights before committing to a specific growth opportunity.
  • 3. Embrace the art of compression in content creation to capture the essence of experiences and engage your audience.

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