This Week #2: Tackling the chicken-and-egg problem, building a growth team from scratch, and addressing overlap with PM peers 🤔
Sep 2019
In marketplace cold-start problems, you're almost always supply-constrained first. Rather than trying to attract both sides simultaneously, focus on seeding supply through single-player mode, employee participation, or direct payment—this naturally draws in the demand side later.
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28 Ways to Grow Supply in a Marketplace 📈
Jun 2019Users who have had a great experience on your platform are your most empathetic potential suppliers. They remember the friction they faced and can address it. This tactic is especially powerful early-stage because these converted users become your highest-quality supply and strongest advocates.
28 Ways to Grow Supply in a Marketplace 📈
Jun 2019OpenTable initially sold restaurants a useful reservation management system—valuable even with zero diners on the platform. Only after achieving critical mass of restaurants did the diner side become compelling. If your marketplace can deliver standalone value to one side, you remove the chicken-and-egg problem.
28 Ways to Grow Supply in a Marketplace 📈
Jun 2019Airbnb discovered that 300 listings with 100 reviewed listings created a step-function change in booking growth. Below that threshold, guests couldn't find what they wanted; above it, the marketplace became self-reinforcing. Identify your magic number and treat reaching it as your primary early-stage goal.
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Jun 2022If 90% of your customers come from paid acquisition, the music will eventually stop. A healthy product should have 40-50% organic growth and 50% paid. If your product isn't remarkable enough for people to talk about, you're building on a fragile foundation.
Gokul Rajaram on designing your product development process, when and how to hire your first PM, a playbook for hiring leaders, getting ahead in you career, how to get started angel investing, more
Jun 2022One hour on systematic outreach (LinkedIn, process development) during low-mental-energy time, and one hour meeting 1-2 people daily. Over 30 days, this yields 60 conversations and a dramatically better talent pipeline than sporadic hiring efforts.
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