What is growth hacking?
Understand the power of what growth hacking has to offer
by know what it is to start with.
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In the United States, there are 32 million registered businesses. 1% of them make over $1 million a year, and 1% of those companies make over $1 billion a year. And out of those billion, 4.5% of them are unicorns. Those are startup companies with billion dollar valuations. Real exponential growth is more unique than you think, but not an impossibility. And that’s exactly what growth hacking comes in. Before we start to define what it is, it’s important to understand what call the growth dilemma. This is a problem that every manager, leader, a CEO, founder, doesn’t matter where in the organization you are. The growth dilemma hits you at the beginning of the year, beginning of the month, beginning of the quarter where you have these big massive goals that you out to get because you want to grow, but then you step back and realize, well I don’t have the resources, the time, the money, the people, the tools, the technology, the resources, whatever it might be to get you from point a to Z.
And that right there is the growth dilemma that every single leader and people who work with an organizations face. Now to solve this dilemma is growth hacking. So what I’m going to do is I’m going to throw this image onto the screen and you take a look at it, and this is my unconventional yet simple and powerful definition of growth hacking. Growth hacking is essentially the Ninja in the middle right there. That is you. You are the growth Ninja and you specialize in the transformation of what, when four units of effort are made and you only get one unit of result, you transform that into one unit of effort and four units of results that transformation point right there is exactly what growth hacking is all about. Now I’m going to expand a little bit on the contour of this definition. I’m going to let you know that there’s a video that I’m going to put that expands slightly more on what I’m about to talk about.
Evolution of Growth Hacking
Uh, but it is important to understand that the evolution of growth hacking did started, did start literally as hacking or what we would call a shadow shadow growth hacking. And we still have shadow growth hacking that happens today, but we’re going to leave that for another time. Uh, so it started as hacking shifted to what we call code plus marketing. And today it’s in the third generation, which is code plus marketing plus a function or a discipline. And so that can be co plus marketing plus strategy, CLO code plus marketing plus HR plus operations, R and D. and so it brings a combination of these three disciplines into a single growth hack. Now I’m going to just throw this quickly onto the screen right now as well. Um, I am looking at just one of the, one of the many angles of technology that play a role in growth.
And now what aren’t tell you, and I’m going to talk more about this a bit later on in other videos, growth hacking is not about technology only. All right? Even a traditional business, a mom and pop flower shop at the corner of your street also can growth hack using technology, but they don’t have to be a technology company. So let me get this up on the screen. One of the vital types of technology is a SAS and cloud computing. And so I just as an evolutionary diagram that shows you where starting, where it goes from your physical premises to actually having it hosted somewhere else that does everything for you. So it’s scalable and cost-effective. So this is a fundamental role that accelerates ideas like growth hacking. You’ve got things like artificial intelligence that create automation, um, and autonomy in order to make decisions on your behalf that are preprogrammed obviously by you.
Better and More Accurate Decisions
And then you’ve got this, data analytics that help drive even better and more accurate decisions. So I’m only highlighting a few things here for the purpose of this video, I will have future videos that tell all a lot more about this. So we’re going to go a bit deeper that in the future. And finally what I want to talk about is what is not growth hacking. Now I am going to go into a much deeper video as well. I’m going to either put it in the description or in the card above. We’d be able to go straight directly to that. What is, what is not growth hacking? There’s a lot of nonsense around this topic that gets people confused and the biggest one is digital marketing. People believe that growth hacking is digital marketing, which it is not. It is a huge point of confusion and leads to people not understand what growth hacking is all together.
All right, so before I reached the end and give you the bonus, okay, I’d like you to comment below. What I want to know is what is your current growth challenge and when you do this, please put the hashtag growth hacking. I’d like to get the growth hacking community involved. This is an important way of us to engage and so we can develop other resources and ideas and any specific comments you or questions you may have for me, put them below and now we’ve reached the end and I’m going to show you your hundred dollar bonus. So thank you for staying to the end of I got something fantastic for you, but two important things. There’s limited time for this and limited quantity. It’s a hundred course that I run. It is a certified level one growth Ninja course. It will train you into the fundamentals of growth hacking from what is it, how it works, why it’s important, including experimentation. Now it’s a 10 day course. It’s delivered every single day to your email. We may have new delivery methods of how we will run this course, but it will be all available in the bottom of this video in the description. Uh, there’ll be a link and any instructions on how to actually avail this offer. Good luck and I plan to see you in the next video
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