Elena Verna: recommendation

Transcript context

…Something I've seen, let me know if you agree, is usually there's going to be one lever that has most of your growth for a long, long time, and so all other things are not going to be as big, but they are still important. So the way I think about it is I try to focus 20 to 25% of growth teams time annually. Not every given sprint or not every given quarter, but annually to introduce a new growth loop, or to introduce a new channel, or to introduce something new that can potentially bring us additional umpth to our growth engine. I know that a lot of it is going to fail. None of it is gold on any growth metrics because you cannot goal it immediately, let's say on monetization or immediately acquisition. You're just going to cut it at its knees immediately if you're not going to let it evolve into something that can be monetized, that can be responsible for acquisition. So example on Mirrorverse, which is a user-generated content library of all of the mirror boards that people create, it took us probably 18 months until we started putting metrics expectations on it. Before that, it was a thing that we were testing. And it was being used by a lot of people, but we're like, we don't even know exactly quite how this is going to fit all together. And then it started taking off as both engagement engine as well as acquisition engine. But it's important to constantly give your team room to try those new ideas. Otherwise, you're going to find yourself that your growth loops and your growth engine is slowing down and you don't have time to find that second horizon. And that is the worst situation to be in. That's where growth starts to slow down. And to recover out of that is impossible because you need revenue. You need revenue, you need revenue, you need revenue. And these growth loops on average take six months, a year, a year and a half to start producing even visible revenue. So that's why you need to start layering it very soon into your initiatives. To make this even more concrete for people that are starting to like, oh, shit I got to do this. Can you just give us a list that doesn't have to be exhaustive of potential growth loops, levers, methods, engines for folks to consider? You've mentioned a few, but just give a list of people like, okay, got it. Maybe we'll try one of these.…

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