We've all seen those charts showing "hockey-stick growth." They are the envy of entrepreneurs who haven't found it, and among the most important moments in a company's history for those who have. Hockey-stick growth tells a story: A company was slowly finding its way, and then-rocket ship. The rest is history.
But hockey-stick growth didn't just happen. Something triggered it. There was an inflection point. What was it?
I was a founder and longtime product lead at Airbnb, and now I write a newsletter about product growth that's the No. 1 business newsletter on Substack. (Find it at lennysnewsletter.com.) And I wanted to answer this question: What precedes an inflection in growth? To find out, I spent weeks researching inflection points and chatting with leaders at two dozen of today's most successful companies-including founders and early employees at Figma, DoorDash, Tinder, YouTube, Snap, Airbnb, and others.
FROM THAT, I CAME TO THREE CONCLUSIONS:
1/ The majority of growth inflections sprang from a specific product improvement.
2/ Many of the most durable inflections came from the company doubling down on their primary growth engine (like SEO or virality).
3/A surprising number of growth inflections came from an unexpected external event, without the product changing at all.
Denne historien er fra May - June 2023-utgaven av Entrepreneur US.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra May - June 2023-utgaven av Entrepreneur US.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
The Better Way to Fail
The next time something you do flops, here's a new way to learn from it.
Making the Midlife Leap
After getting laid off in her early 50s, Keri Gardner decided she wanted to control her own fate-so she bought a franchise with her 401(k).
A Quick Guide to Franchise Ownership Costs
Franchising costs money. Here's what everything means.
This Doughnut Franchise Is Hitting the Road
To grow, DonutNV needed a steady supply of delivery trailers. So last year, it started making them itself.
3 Steps to Find Your Perfect Franchise
There are many brands out there. Finding the right one is up to you.
This Fencing Franchise Is Ready for Growth
Superior Fence & Rail nearly doubled its sales in one year. How? By stepping back and focusing on fundamentals.
What Are a Franchisee's Role and Responsibilities?
If you're going to be a franchisee, you should know exactly what's expected of you.
This Dog-Training Franchise Is Zooming Ahead
After a rough few years, Zoom Room made major changes...and has emerged as a stronger, faster, very well-behaved business.
What's the Real Damage?
Most clean-up companies just fix messes, like fire or flood damage. But 911 Restoration's new CEO saw an opportunity to help with the other emergency they often encounter: customers' emotional trauma.
Mental Health Services, Franchised
The U.S. is facing a growing mental health crisis. Ellie Mental Health wants to be the solution.
