With Airbnb going public tomorrow, I thought I'd revisit the lessons Airbnb taught me about building a company (my very first public post!)

Read on for a glimpse into what makes Airbnb so special 👇
marker.medium.com/what-seven-yea…
1/ Founders obsessed with culture

From day one, Airbnb has been a company obsessed with culture, values, and quirky rituals. This helped with hiring, move quickly when opportunities arose, and also overcoming adversity.

Exhibit A 👇
medium.com/@bchesky/dont-…
2/ Set wildly ambitious goals

@bchesky is (in)famous for doubling our proposed goals and often pushing us to 10x our goal. This ambitious approach pushed teams to think bigger, and at the end of each year we were often shocked at how close we came to hitting those goals.
3/ Start with the ideal and work backward

A variation of Amazon’s methodology that I’ve seen work exceptionally well at Airbnb is to envision the perfect user experience and work backward. A classic example: Snow White 👇

4/ Maintain a high bar for everything

Emails, docs, meetings, presentations, and hiring. The little things lead to the big things.
5/ Nail the problem statement

Crafting and aligning on a problem statement is the single most important step in solving any problem, and this was key at Airbnb. We thought in outcomes, not products.
firstround.com/review/the-pow…
6/ Keep teams focused

Similarly, we strove to narrow the problem space for teams and provide a clear mandate, with a clear goal. Creating a cross-functional team with a focused problem to rally around and obsess about worked wonders.
7/ Think of org design as a product

Finally, we recognized there is no perfect org design. Make sure you address the biggest pain points, future-proof it as much as you can, and then just move forward. Build autonomous units with well-defined goals and get out of the way. Image
8/ I'm incredibly fortunate to have had a chance to be a tiny part of this journey, and so much love to @bchesky @jgebbia and @nathanblec for building a truly incredible company full of truly incredible humans 💖 Image

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More from @lennysan

8 Dec
Founders often ask me how to create buzz around their launch. I finally have an answer: Do something remarkable. *Something worth remarking about*

In this week's post, I share examples and strategies of remarkable ✨

A few favorites in thread below 👇
lennyrachitsky.com/p/creating-buz…
First, why does it need to be "remarkable"? Watch this clip by @ThisIsSethsBlog
Strategy 1: Create a remarkable video, e.g. @DescriptApp, @DollarShaveClub, @PooPourri
Read 14 tweets
30 Nov
One of my biggest surprises from researching B2B growth is that 100% of successful bottom-up B2B companies eventually add a sales team. It's not a question of if – it's a question of when and how.

Below are my fav 5 tips from @Kazanjy for setting this transition up for success👇
1/ First, do sales yourself. As a foremost expert in the problem space, you’re best positioned to have the first few dozen sales conversations.

Later on, these sales tasks will be handed to a specially hired salesperson but only after the initial motion has been roughed out.
2/ To get a sense of the need for a full-time salesperson, add a “Contact Us” or “Contact Sales” CTA to your home page in a place that wouldn't distract the user from self-sign up. Watch for inbound requests asking for large-company-type needs (e.g. SOC 2, consolidate billing)
Read 7 tweets
24 Nov
If you're building a B2B SaaS product, one of the biggest decisions you'll have to make is if/when/how to layer in a sales team.

Lucky you: @Kazanjy just dropped a 🔥 step-by-step guide to help you navigate this transition.

Summary in thread below 👇
lennyrachitsky.com/p/sales-bottom…
2/ One of the most surprising takeaways from my own research into early B2B growth was that *100%* of the bottom-up B2B companies ended up layering on a sales team. It’s rarely a question of if — it’s more a question of when, and how.
3/ First of all, should I even start with a self-serve product?

Yes, if:
1. Is the product simple enough for self-serve?
2. Is this truly new and differentiated? 
3. Can this co-exist with a (less good) incumbent in a given company’s stack?
4. Will you focus on small orgs?
Read 12 tweets
17 Nov
Data points from Airbnb's S-1 that get me excited about its future:

1. *91%* of all traffic comes organically from direct or unpaid channels. This is the key to Airbnb's strategy (winning at direct traffic, avoiding paid growth), and it's working.

More in thread 👇
2/ Not only is traffic cheaper (since it's mostly organic), but guest cohort retention is also much higher than the competition. It's also a rare "smiling curve" – it goes UP over time.
3/ Similarly, host cohort revenue retention hits *100%* over time, and also increases after year two. That doesn't mean tons of hosts don't leave (note: this is revenue retention, not user retention), but this is promising.
Read 6 tweets
17 Nov
What DoorDash, Faire, Substack, Eventbrite, and Cameo have in common? They all have what I call "magical" growth loops: loops where most of your growth comes from existing users. I've collected 30+ examples of these loops in action.

A few examples below👇
lennyrachitsky.com/p/magical-grow…
1/ Context: Normally, to grow your business, YOU need to go find every new users or customer. For example, if you’re building Google, you need to go tell people about Google and convince them to use Google. Each additional Google user doesn’t directly drive more Google users.
2/ However, if you’re building a product like DoorDash, Faire, Substack, Dropbox, Eventbrite, and many of the companies I cover in this post, a very cool thing can happen: your users grow your business for you. THEY recruit your new users. Magical!
Read 12 tweets
13 Nov
Some things I've learned about the newsletter'ing life, so far 👇
1/ It's really easy to start a newsletter. It's very hard to keep it going.

The key to keeping it up, at least for me, is (1) being genuinly curious and energized about the topic, (2) having a broad enough topic to keep it novel, and (3) having consistent time to write.
2/ Optimize for a topic YOU'RE excited about, not what you think other people will be excited about.

This is so important. It's the reason I went against the classic advice of finding a single focused niche. I would have been so bored thinking all day about just one thing.
Read 15 tweets

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