Grant Lee Profile picture
Sep 13 1 tweets 4 min read Read on X
we grew from zero to $50M ARR in <2 years, profitably
i've never publicly shared our tactics before
it's cost us over $5M to learn what I'm about to share

800-word long post on every growth hack that printed money for us

I'll cover:
1. Influencer Marketing
2. Performance Marketing vs Brand
3. User Testing
4. Dogfooding

0-10M was nearly 100% word of mouth and organic content

10-50M was still >50% word of mouth but influencer, affiliate, and referral made up the other half

But the foundation we set from 0-$10M is what allowed us to blaze past $50M

1. Influencer Marketing 101:

90% of your reach comes from <10% of content that goes viral. Your job: go broad with influencers and spend enough to find that 10% of content and formats that work. Virality is no accident - test and discover hooks, visuals, formats for each platform, understand why they work, and replicate 100x across your influencer roster.

Most startups get three things wrong:
1 - Too small budget
2 - Overly selective on creators and messaging
3 - Give up too early
Start with $10-20k/month, commit to 6 months minimum. This lets you experiment with many micro influencers and lets you test many concepts.

- List creator personas with audiences that care about your product. Be exhaustive. Influencer outreach is time-consuming. Work with a freelancer or agency if you don't have a team. DM me for recommendations.

- Offer base + viral bonus. For TikTok, have them start new accounts. New accounts can get as many views as established ones. But on new accounts creators are unburdened by their brand and can try any format.

- Test across all platforms (TikTok, IG, X, LinkedIn work for most B2B/prosumer apps).

- Track specific creators and hooks that outperform, not just channels.

- Add 'How did you hear about us' to onboarding. Calculate which channels drive leads vs just views.

- Compile every asset, video or hook that works into a guide. Once you have 20-30 winning formats, hire your top creators as consultants to train all other influencers on what angles go viral for you and why.

- Never write scripts - it becomes an ad no one watches.
Creators know their audience best.

2. Invest in brand before performance marketing

Most startups are not prepared to scale their spend because their brand and creative sucks. We had to go through an extremely expensive rebrand (both in terms of time and dollars spent) to land on something we loved. But it would have been much more expensive to skip this step.

Be relentless about testing a wide range of creatives. Whatever number of creatives you're thinking of testing, 10x it. Be bold. See what moves the needle (CAC payback, conversion rates, LTV and retention).

Once you see a particular use case resonating, build a whole funnel around it with symmetric messaging. You don’t want to confuse visitors by showing them an ad with one value prop and then drop them on to a landing page with a completely different message.

3. Get users to test prototypes before you ship.

This seems trivial, but saves you from the worst startup mistake - misdirected product development.

Most startups think experimentation is for mature companies improving their funnel by 1% through a/b testing. But Gamma's founding team is early Optimizely folks. Experimentation is in our DNA.

We ran extensive user testing on platforms like voicepanel and usertesting

a. Recruited random people who make slide decks for work. They have no skin in the game and won't lie to be nice.

b. Showed them prototypes with minimal instructions and let them spend a few minutes trying things out.

c. Asked them to think out loud. The words they use to navigate, their expectations, where they get confused is gold. Combining their voice + screen actions amplifies things 10x. You really feel the pain of poor UX and overcomplicated copy.

Did this for everything - landing pages, onboarding, new features, moonshot concepts.

Always test your biggest assumptions about what people will get or like. Identify major blind spots in your prototype stage, not at the end.

Ship once you have hours of testing proof that ordinary people find it easy and useful.

4. Dogfood the hell out of your product

Either you build something that's 100x better than alternatives, or you build something else. Dogfooding makes it painfully obvious if your product isn't a 100x better.

Storytime: When we started Gamma, we had two competing ideas -
Idea 1: a virtual office to capture in-person magic
Idea 2: reimagining PowerPoint from the ground up (This became Gamma)

After 6 months of building and dogfooding both of them in parallel, we had a clear winner.

It wasn't about metrics or hard data.

With a virtual office, we were always competing against IRL and could never replace the magic of being together in person.

With the reimagined PowerPoint, we could imagine a product 100x better than the alternative.

Any startup can learn from our playbook.
I really hope they do.Image

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More from @thisisgrantlee

Oct 4
How can AI startups raise capital at sky-high valuations while losing money?

Because investors are betting on future dominance, not current P&L.

Thread: Image
Amazon ran e-commerce on razor-thin margins for a decade.
By 2006, net margin was < 2%.

But that's how they established dominance.
You can't compete with a company that keeps prices as low as feasible.

Once you own the market, you can optimize for margins. Image
Scale translates into profit through three levers:

1) Charging by outcomes or usage.
2) Bundling services to increase average revenue per user.
3) Capturing value across flows through marketplaces and take rates.

Companies can activate any of the 3 to capture more value.
Read 11 tweets
Sep 25
Gamma crossed $50M ARR with 28 employees and more cash in the bank than we had raised ($23M)

In hindsight: We got here because we ignored common VC advice.

Examples of glaringly bad advice that you should ignore to save you $10M+ and years of time, like we did for Gamma: Image
Advice that sounds okay on the surface but might cost you your company:

1. “Raise as much as you can, hire quickly, and worry about profitability later”

My advice: raise little, stay lean, fund with profits.
If you do raise, be thoughtful and choose the right partners.
The difference between an average and exceptional hire isn't 2x, it's 100x.

We've deliberately designed our organization to maximize impact per person.
Read 13 tweets
Sep 12
"Your success in life will be largely determined by your ability to speak, your ability to write, and the quality of your ideas. In that order."

Thread:
Buffett spent $100 on a Dale Carnegie communication course.

That certificate hangs on his wall.
Not his Columbia degree.

Warren always speaks about how economically sensitive a decision it is to learn how to communicate properly.
Berkshire Hathaway is a 60+ yrs old, $1tn company, with 390,000 employees.

But you can't throw all that complexity to shareholders hoping they'll understand.

Buffett is a master at keeping things deeply effective. Image
Read 11 tweets
Jun 20, 2023
Today we shipped a feature we said we'd never build.

Powerpoint export.

After all, why would the team building the "anti-powerpoint" spend any time on this?

Here's a quick 🧵 on our thought process.
Startups exist to solve customer problems.

Often the best way to do this is by introducing new tech.

But it's easy to get fixated on the tech itself, creating a walled garden, while losing sight of the actual problem you're solving.
It took us a while to realize this.

Powerpoint export is about meeting our users where they are.

It makes it easier for them to embrace Gamma as a natural extension of their workflow.

The users we started testing this with are thrilled and using Gamma even more than before.
Read 4 tweets
Jan 3, 2023
After interviewing people for 10+ years,

I can tell you most people struggle to answer:

"Tell me about yourself.”

Use these 7 tips to stand out and land the job:
#1. Keep it relevant.

The interviewer is looking for information that is relevant to the job and the company.

Focus on your professional experiences and skills that apply to the conversation.

Too many people miss the point here and talk about their personal lives.
#2. Keep it concise.

It's important to be concise and to the point when answering this question.

Aim for a response that is around two to three minutes long, tops.
Read 9 tweets
Dec 29, 2022
If you don't do these 10 things, you shouldn't expect a job promotion:
#1: Be a kind and decent human being.

Simply not being a jerk can go a long way.

If people want to be around you, they’ll cheer you on as you go for promotions.

Your boss will see this support from your peers and the choice to promote you will be a no-brainer.
#2: Ask for what you want.

Want a promotion?

Ask for it.

You may be surprised at how well this works.

It works best when you present data supporting the promotion.

Your boss will have no choice but to promote you with a solid proposal.
Read 12 tweets

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