Download and customize hundreds of business templates for free
The Cold Start Problem, as described by Andrew Chen, refers to the initial challenge faced by networked products when they launch. These products need users to provide value, but attracting these initial users can be difficult without an existing network or user base. It's a chicken-and-egg problem where the product needs users to be valuable, but it's hard to attract users without the product already having value.
Question was asked on:
When a product has a built-in feature that encourages collaboration, it can spread on its own. "This is the Product/Network Duo at work again, where the product has features to attract people to the network, while the network brings more value to the product," Chen writes. Finally, The "Economic Effect" is where network effects improve business models over time via improved feed algorithms, increased conversion rates, premium pricing, and more.
Asked on the following book summary:
When a networked product launches, it faces a chicken-and-egg problem: people need to use it for it to be worth anything. So how do you start the very...
Download and customize hundreds of business templates for free
How do some companies seem to grow exponentially? Viral strategies. Use our Viral Strategies template to incorporate a high growth mindset to scale your product, bring in more customers, and reduce the cost of acquisition as you move along. See how you can use simple calculations like viral coefficient, cycle time, branching rate, to find the right growth opportunities.
Has your business growth reached a plateau? Use our Growth Strategy Toolbox to test, execute, and share new growth strategies across the team. Companies can use different growth strategies to escape stagnation, but execs also need tools to communicate the timeframe of a strategy, decide which growth areas to prioritize, or assess the organization’s current capabilities and if they’re enough for the next growth challenge.
What is the most effective revenue model or monetization strategy for your organization? This presentation provides a comprehensive guide to tried-and-true revenue models that can be highly lucrative when used right. Use these slides to integrate sound avenues for monetization with your current value proposition, customer relationship, and operation structure.
How do you stand out and acquire customers in an increasingly oversaturated field? A strong customer acquisition strategy is more than just competing for attention. Use this Customer Acquisition deck to help get organized as you segment, prospect, qualify, and maintain high-value leads.