Startups were hit by a black swan – COVID-19. Suddenly, founders have been forced to think about how to navigate a times of extreme crisis and may have already had to switch to survival mode.
As a venture capital investor, I am currently in constant touch with our portfolio companies and founders. In this article, I want to share my thoughts on how founders can weather this storm and give them at least some straightforward guidance.
How to boost growth? How to acquire more customers? How to get more traction? If you are a founder looking for answers to these questions, do not directly jump to analysing options to further fill the top of the conversion funnel. Optimise your conversion funnel first. Optimising the conversion funnel will not only lead to more customers, but also to lower customer acquisition costs, shorter payback periods, better CLV/CAC-ratios and ultimately higher growth.