Co-Founder & CEO of Teleport. Writer of Goodwill Hunting, a newsletter hunting the best pre-loved fashion finds, insights, and jobs. 11+ years of buying no new clothes.
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Key inputs: 1. Acquisition: how to acquire users.2. Activation: how to get users to their 'Aha’ moment as quickly as possible3. Engagement: how to ensure users experience the core product value as often as possible4. Virality: how to get people to get more people onto the platform
There are four atomic units of a 1.0 flywheel:Acquire: how users are acquired into the community (e.g. they sign up)Consume: the mechanisms that drive content consumption (e.g. a newsfeed)Create: the mechanisms that entice users to create content (e.g. social status)Harvest: how new content created leads to more inbound growth (e.g. SEO)
Resale is growing 3X faster than retail fashion. 3X—ThredUP estimates that the global secondhand apparel market will grow 3X faster than the global apparel market. 8X—in North America, it’ll grow to $82 Billion by 2025.
The main reason for the harm today’s internet platforms cause is the misalignment in incentives between users, creators & the platforms — or demand, supply and platform incentives. And a lot of it comes down to advertising-based business models.
Have your executive staff succinctly describe their vision, operating plan, metrics, roadmap, and resourcing needs using this straight-forward strategy memo.