As a founder, you're wearing many hats. Do you need to learn the ins and outs of growth as well? According to our new interview guest, the answer is "Definitely!" But you also need to be smart about it and learn the right skills – the ones related to managing and directing the growth process. Today, we'll discuss the growth skills founders need to master and the ways you can do that with Rishabh Dev.
Rishabh has some serious experience in teaching growth marketing skills. He has trained 15,000+ entrepreneurs and marketers through his courses and his growth marketing process is recommended by teams at Oracle, National University of Singapore, NUMA, Java, Alcatel, Philips, Accenture, and more.
Rishabh says his growth skillset framework has been in the making for 5 years before he actually started teaching it to growth teams and entrepreneurs – and the level of detail in his growth skills pyramid really proves it. It's a great quick way to conceptualize the type of marketing skills you need in your brain stack.
I knew Rishabh has a lot of experience teaching growth marketers but I wanted to drive the discussion in a different direction: what growth skills are specifically needed for founders?
Read the original: https://issuu.com/hypergrowth/docs/growth_skills_founders
Soviet pilot Yuri Gagarin was the first person to ever orbit the Earth
Growth Skills for Startup Founders
1. Key Growth Marketing Skills You
Need as a Startup Founder
As a founder, you're wearing many hats. Do you need to learn the ins and outs of growth as
well? According to our new interview guest, the answer is "Definitely!" But you also need to be
smart about it and learn the right skills – the ones related to managing and directing the growth
process. Today, we'll discuss the growth skills founders need to master and the ways you can
do that with Rishabh Dev.
Rishabh has some serious experience in teaching growth marketing skills. He has trained
15,000+ entrepreneurs and marketers through his courses and his growth marketing process is
recommended by teams at Oracle, National University of Singapore, NUMA, Java, Alcatel,
Philips, Accenture, and more.
Rishabh says his growth skillset framework has been in the making for 5 years before he
actually started teaching it to growth teams and entrepreneurs – and the level of detail in his
growth skills pyramid really proves it. It's a great quick way to conceptualize the type of
marketing skills you need in your brain stack.
I knew Rishabh has a lot of experience teaching growth marketers but I wanted to drive the
discussion in a different direction: what growth skills are specifically needed for founders?
2. Keeping your feet on both sides
Founders generally come from diverse backgrounds and their skills would vary. You have the
technical founder, the business development founder, the visionary founder... But one thing they
need to have in common is the ability to see the big picture and understand the high-level logic
and requirements behind different business functions.
According to Rishabh, growth is a particularly tricky thing to manage. That's because it's a
bridge between two sides – the marketing and the technical side. "Growth marketing requires
everyone to be on the same page," Rishabh says: "Because growth marketing involves both
tech and marketing, founders tend to miss out on the whole picture of what's exactly happening
because they need to know both sides." To be efficient, founders need to understand both. So if
you're running your own startup, make sure you have a high-level understanding of the side
you're not completely versed in.
Building your growth skills as a founder has the added benefit of pleasing investors, too.
"Investors are looking for amazing growth marketeers and growth marketing mindsets in
founders of startups," Rishabh says. So if you demonstrate growth knowledge, you're that much
more likely to secure your next round.
The Growth Skills Pyramid
Rishabh puts growth marketing skills in three distinct buckets. The categories are listed in order
of importance, with each building on top of the previous one.
First comes the Fundamental skillset. This category includes skills and notions that everyone
should be aware of – from the founders to the newlyhired intern. This also includes the key
questions for startup success like what is the metric the entire startup is focusing on right now.
On top of that comes the General Growth skillset. These are skills that founders should
understand on a high level and would ideally go a bit more in-depth on a few of them. However,
Rishabh is quick to note that you do not necessarily need to develop them all.
Finally, we have the Specific Growth skillset. These are skills for the team that's actually
executing the growth strategy. Some understanding of what is happening at this level, but they
don't need to know what is happening with each specific skill.
3. Fundamental growth skills for
founders
In his Growth Skills Pyramid, Rishabh lists a set of eight key skills. However, not all of them are
crucial for founders. We did a deep-dive into the ones that are.
Managing the growth marketing process
Usually, the core growth team would involve a technical person, a data person, and a typical
marketeer who works on audience targeting, copywriting, and so on. There would be a person
managing the process and in young startups that can often be the founder. Even if that's not the
case, you need to be able to jump in and quickly understand which step of the growth marketing
process are we currently on — ideation, running experiments, decision-making — what comes
next, and how can you drive the process in the right direction.
4. Visualizing the funnel and understanding
the user's journey
Different campaigns and experiments require a different approach. Some are execution-heavy
and there's a specific set of steps you need to follow. Others connect different elements of the
funnel in intricate ways. As a founder, you need to be clear on what's the whole process to
attract, activate, and retain a user. As Rishabh says, "Understanding by looking at a person
what stage of the funnel they are in and what we should be doing in that stage of the funnel to
guide the user through it is a very important skill."
While growth teams will be focusing on separate experiments guided by the current goal of the
startup, founders need to look at the big picture and identify what's missing from the funnel. It's
the moment when you need to change the course of your growth team. For example, "Hey,
we're great at acquisition, let's start some experiments for referral campaigns."
Using data to make decisions
"I'm not saying that every startup founder should be a data scientist," Rishabh is quick to note:
"but they should be able to make sense of what data they are given and make the right
decisions." Or, I might add, make some decisions – because analysis paralysis is a common
threat, too.
The challenge here comes from the fact that growth is about running many small,
highly-focused experiments. As a founder, you will be the one with enough context and vision to
pull all the data from disjointed campaigns and bring it together. And this also means you need
to recognize situations where the experiment didn't move the needle for the preselected metric
but can be used in a different part of the funnel.
5. General and specialist growth
skillsets
The second level of Rishabh's pyramid is the general growth marketing skillset. It covers key
all-encompassing skills like content, design, psychology, technology, analytics, CRO and A/B
testing. These may not be things a founder deep dives into but if they do, Rishabh notes, this
would give them "an extra edge over the other founders out there".
Usually, founders will pick a few of these that are aligned with their general background. Tech
founders would usually focus on growth technology, CRO, or analytics, while marketing
founders would focus on content and customer psychology. Our advice would be to also take a
dip in fields that are farther away from your past experience. This will help you understand both
perspectives to growth that we outlined at the start.
The final third level of the pyramid is reserved for skills related to growth execution. These are
not something founders would typically focus on.
6. How do you develop growth skills
as a founder?
The answer Rishabh gave was definitive: "You need to see one growth marketing campaign
end-to-end. No matter what books you read or courses you take." This is the only way to
understand what goes into planning, setting up, executing, and analyzing an experiment.
Obviously, that won't be your main job as a founder. But you can gain a lot of insight by
immersing yourself in the process.
Rishabh also shared some common mistakes founders make when it comes to growth. You can
hear all about them in the recording of our conversation that you can see in the Hypergrowth
Talks Library.
What are the first growth hires you
need?
Finally, we talked about assembling growth teams. I really wanted to know what would Rishabh
recommend as a first growth hire. His answer was short and to the point.
The first thing you need to assess is if the person is experiment-driven. "It's not a skillset
characteristic but a mindset characteristic," says Rishabh. And we might add it's a very
important one. The easiest way to recognize a person that's experiment-driven is that "they
won't be very emotional about the marketing methods they use." If a campaign calls for paid
ads, they will use paid ads. If it's about improving visibility through SEO, they'd focus on that.
If they tick off the first box, then you need to look for depth of knowledge either in tech or
marketing. If it's a tech-focused growth person, they'd be able to build different frontends to test
what works and what doesn't. If the person is marketing-focused, they should know the ins and
outs of advertising, content, and audience targeting. "One person who's able to deliver value to
the user from a frontend perspective and one person who's able to reach that audience faster
and test that audience. Those will be my first two hires," Rishabh sums up.
7. Learn by doing, surround yourself
with experiment-driven people
The one thing that Rishabh was very clear on is the fact that you need some practice to master
growth skills. This will help you understand the nuts and bolts that go into both the tech and
marketing side of growth.
So go ahead and get your hands dirty!