Product Growth = People growth How TransferWise has grown to be the market lead in cross border transfers and how you can replicate this in your company / startup / team

1. @nilanp
Growing fast…
…growing people

2. @nilanp
1. Growth at TransferWise
2. 5 steps to replicate this in your
organisation

3. @nilanp @cataflu

4. @nilanp
1. Growth at TransferWise
2. 5 steps to replicate this in your
organisation

5. TransferWise was started
to solve a problem
@nilanp@nilanp

6. What is TransferWise
What is borderless

7. @nilanp @cataflu
Moving more than
£3 Billion per month

8. @nilanp @cataflu
Saving our customer more
than £3m per day
30 price drops in the last 9
months

9. @nilanp @cataflu
Over 4m customers worldwide

10. @nilanp @cataflu
Over 2m debit card
transactions + over £2bn in
deposits

11. @nilanp @cataflu
> 1,400 people

12. @nilanp @cataflu

13. @nilanp @cataflu
Profitable for 2 years

14. @nilanp @cataflu
Evangelism is the biggest
driver of growth

15. Why do people recommend our
product ?

16. @nilanp
Would you recommend us to
your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters

17. @nilanp
Would you recommend us to
your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
Total
Promoters - Detractors
= NPS

18. @nilanp
The NPS Richter scale

19. @nilanp
1 2 3 4 5 6 7 8 9 10

20. @nilanp
If promoters >
detractors you WILL
grow

21. @nilanp
N.B. This is hard.

22. It works !
(But barely)

23. It works !
(But barely)
It works with
no significant
issues !

24. It works !
(But barely)
It works with
no significant
issues !
It works. Wow
that was slick

25. It works !
(But barely)
It works with
no significant
issues !
It works. Wow
that was slick
You’ve just blown
my socks off that
was incredible

26. RATIONalRational Emotional

27. RATIONalProduct Mission

28. RATIONal
Speed
Price
Convenience
Coverage
Mission

29. To achieve advocacy your product
needs to be an order of magnitude
better than the alternative

31. But don’t do this as “growth hack” do
it because its the right thing to do

32. RATIONal
Speed
Price
Convenience
Coverage
Mission

33. You can’t copy
that !

34. @nilanp
1. Growth at TransferWise
2. 5 steps to replicate this in your
organisation

35. Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People Growth
Step 5 - Scale
@nilanp @cataflu

37. Money without borders.
Instant, convenient, transparent
and eventually free
We’re powering money for people and businesses:
to pay, to get paid, to spend, in any currency,
wherever you are, whatever you’re doing

38. We are
a Mission Driven
Startup
@nilanp @cataflu

39. A mission driven
organisation is…
…is a catalyst for
achieving a change
In the world
@nilanp @cataflu

40. Find your mission
@nilanp @cataflu

41. It starts by being
customer led
@nilanp @cataflu

42. Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People Growth
Step 5 - Scale
@nilanp @cataflu

44. RATIONal
Make
customers
happy

45. RATIONal
Make
customers
happy
Make
money

46. RATIONal
Make
money

47. RATIONal
Make customers
happy
sustainably

48. Have one list

49. But how do you explain this to
shareholders ?
@nilanp

50. @nilanp
Customer led
Growth

51. @nilanp
Customer led
Growth
Create a huge
amount of value

52. @nilanp
Customer led
Growth
Create a huge
amount of value
Capture less
than you create

53. @nilanp
Customer led
Growth
Create a huge
amount of value
Capture less
than you create
Create a huge
amount of good
will

54. @nilanp
Customer led
Growth
Create a huge
amount of value
Capture less
than you create
Create a huge
amount of good
will
Word of mouth
growth

55. Price

56. Price Demand

57. Revenue
Price Demand

58. Generating a consumer surplus that
turns into goodwill
@nilanp

59. Creating a barrier to entry
@nilanp

60. Retro-fitting MBA speak on what is
the right thing to do
@nilanp

61. Practically - how do I do that at my
business.
@nilanp

62. 1. Define a problem you are solving
@nilanp

63. 2. Define a KPI to measure progress
@nilanp

64. 3. Try and move it
@nilanp

65. 4. Congratulations you’ve built a
product !
@nilanp

66. 5. Now how to build a 10x product ?
@nilanp

67. How to build something that is 10x
better than anything else in the
market ?
@nilanp

68. Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People Growth
Step 5 - Scale
@nilanp @cataflu

69. How to build something that is 10x
better than anything else in the
market ?
@nilanp

70. Build something that doesn’t exist
@nilanp

71. Build something that you don’t know
could ever exist
@nilanp

72. If you aren’t in a perpetual state of
existential crisis…
…you aren’t trying hard enough
@nilanp

73. No team at TransferWise tests
changing button colours
@nilanp

74. Building conviction:
The art of product
management

75. Virility plan or test all the things

77. = YOU DON’T KNOW WHAT YOUR
CUSTOMERS WANT

78. @nilanp
Singapore

79. @nilanp @cataflu
Bank of England
@nilanp

80. Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People Growth
Step 5 - Scale
@nilanp @cataflu

81. SPEEEEEEEEEEEEEEEEEEEEEEEEED
@nilanp

82. Our growth is limited by the rate…
…we solve customer problems
@nilanp @cataflu

83. Our growth is limited by the rate…
…we move product KPIs
@nilanp @cataflu

84. Our growth is limited by the rate…
…we hire people
@nilanp @cataflu

85. Our growth is limited by the rate…
…we onboard them
@nilanp @cataflu

86. Our growth is limited by the rate…
…we build their confidence
@nilanp @cataflu

87. Our growth is limited by the rate…
…we build their conviction
@nilanp @cataflu

88. Our growth is limited by the rate…
…we build their impact on the
mission
@nilanp @cataflu

89. Product growth = People growth
@nilanp @cataflu

90. Man… growth is a psychologist’s
problem
@nilanp @cataflu

91. Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People Growth
Step 5 - Scale
@nilanp @cataflu

92. Autonomous
independent teams that focus
on KPIs that make a
difference to customers and
drive growth
@nilanp

93. Autonomous
independent teams that focus
on KPIs that make a
difference to customers and
drive growth
@nilanp
Regulated
and
available
Instantly
and almost
zero cost
IdentityOnboarding Worry Evangelism
Problem
awareness

94. Autonomous
independent teams that focus
on KPIs that make a
difference to customers and
drive growth
@nilanp
Currencies OperationsVerificationConversion Experience ViralityMarketing
Regulated
and
available
Instantly
and almost
zero cost
IdentityOnboarding Worry Evangelism
Problem
awareness

95. We have over 1,500 people working
in autonomous teams today in offices
from Singapore to New York
@nilanp @cataflu

96. Some things work great
@nilanp @cataflu

97. … we’ve still got some stuff to figure
out
@nilanp @cataflu

98. WIP

99. Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People Growth
Step 5 - Scale
@nilanp @cataflu

100. @nilanp
Onwards