
40 segments available
Adam Fishman has decades of experience building and scaling some incredible businesses, like Lyft, Patreon, and Imperfect Foods. He is currently an Executive in Residence at Reforge and an advisor to numerous companies on growth, product, strategy, and company building. In today’s episode, Adam shares his growth PM competency model to help founders identify specific skills when hiring growth leaders, how to structure feedback, and how to identify gaps in your growth team. He also discusses the role of onboarding in retention and how to evaluate a company as a prospective employee. Find the full transcript here: https://www.lennysnewsletter.com/p/how-to-build-a-high-performing-growth — Where to find Adam Fishman: • Twitter: https://twitter.com/fishmanaf • LinkedIn: https://www.linkedin.com/in/adamjfishman/ • Website: https://www.adamfishman.com/ • Adam’s newsletter: https://www.fishmanafnewsletter.com/ — Where to find Lenny: • Newsletter: https://www.lennysnewsletter.com • Twitter: https://twitter.com/lennysan • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/ — Thank you to our wonderful sponsors for making this episode possible: • Linear: https://linear.app/lenny • Coda: http://coda.io/lenny • Eppo: https://www.geteppo.com/ — Referenced: • Stream Super Pumped on Showtime: https://www.sho.com/super-pumped • Super Pumped: The Battle for Uber: https://www.amazon.com/Super-Pumped-Battle-Mike-Isaac/dp/0393652246 • HitRecord: https://hitrecord.org/ • Adam’s growth competency model: https://www.reforge.com/blog/the-growth-competency-model • Adam’s LinkedIn series: https://www.linkedin.com/posts/adamjfishman_ive-now-published-my-complete-series-on-activity-6979198793992802305-VtCu/ — In this episode, we cover: (00:00) Adam’s background (06:16) Lyft’s launch press release (09:56) Adam’s newsletter and growth competency framework (10:34) Myths and mistakes founders make (15:12) The growth competency model (18:47) Customer knowledge and user psychology (21:23) Why strategy and communication are more advanced competencies (25:45) Why to hire a junior-level growth executive and how to support them (31:20) Why Adam skews toward internal hiring (33:25) Generalists vs. specialists (35:59) The importance of onboarding (41:49) Opinionated defaults (45:03) Balancing conversion and retention with successful onboarding (48:46) Guidelines for redesigning onboarding (52:22) The PMF criteria for candidates (57:57) What Adam would have done differently at Imperfect Foods — Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.
Adam Fishman emphasizes the critical role of onboarding in the product experience, stating that it's the only part every user will encounter. He explains how onboarding is the first opportunity for a company to fulfill its brand promise, highlighting the importance of aligning product experience with customer expectations to avoid disappointment.
"onboarding is the only part of your product experience that a hundred percent of people are ever going to touch good luck getting a hundred percent feature adoption of anything else in your product ri..."
In this segment, Adam Fishman shares his impressive career trajectory, detailing his roles at Lyft, Patreon, and Imperfect Foods. He discusses his current work as an Executive in Residence at Reforge and his advisory practice, emphasizing his focus on growth and product strategy.
"Adam Fishman was the first growth in marketing hired Lyft where you spent two and a half years is leading their growth efforts then he went on to lead product and growth at patreon where he spent over..."
Adam recounts a memorable moment from Lyft's launch, describing a press event where they drove a car with a pink mustache into the office. This vivid memory highlights the excitement and creativity involved in launching a new product and the importance of making a strong first impression.
"this episode with that I bring you Adam Fishman foreign this episode is brought to you by linear let's be honest the issue tracker that you're using today isn't very helpful why is it that it always s..."
Adam shares his thoughts on the 'Super Pumped' series about Uber, discussing the emotional impact of reliving past experiences and the importance of transparency in the tech industry. He also shares a humorous anecdote about interviewing with Joseph Gordon-Levitt while he was filming the series.
"choice among startups and it Powers a wide range of large established companies such as versel retool and cash out see for yourself by product teams described using linear as magical visit linear.app ..."
Adam introduces his growth competency model, designed to help founders hire and evaluate growth leaders effectively. He discusses the need for a structured approach to hiring in growth roles, emphasizing the importance of understanding the competencies required for success.
"where I plan my content calendar capture my research and write the first drafts of each and every post it's also right curate my private knowledge repository for paid newsletter subscribers and it's a..."
In this segment, Adam outlines common mistakes founders make when hiring growth leaders. He shares personal experiences of mismatched expectations and emphasizes the need for clear criteria in evaluating candidates to avoid costly hiring errors.
"and start using Coda you can take advantage of a special limited time offer just for startups head over to CODA dot IO slash let me to sign up and get a thousand dollar credit on your first statement ..."
Adam discusses the importance of creating a balanced growth team and the challenges of executing a growth strategy. He reflects on his experiences and the lessons learned about hiring and managing growth talent effectively.
"so I've been a chief product officer and VP of growth and product at a bunch of different companies imperfect Foods patreon Lyft the precursor to lift which was zimride to name a few now I do three th..."
Adam Fishman shares his personal experiences with hiring mistakes in growth roles, emphasizing the importance of clear expectations between founders and growth leaders. He recounts a specific instance at Wisant, where misalignment led to unsuccessful outcomes, highlighting the need for a strategic approach to growth hiring.
"myths and mistakes that I think Founders made and that I've made I've definitely lived through some mistakes a few experiences where I was hired into a company where the founder had a really messed up..."
In this segment, Adam introduces his growth competency model, designed to help founders identify the necessary skills for growth leaders. He explains that the goal is not to find a perfect candidate but to build a well-rounded team by balancing skills across four key components: growth execution, customer knowledge, growth strategy, and communication.
"awesome let's get into it what are the components of this model and you can pull it back up again for folks on YouTube okay to follow along it's like a tick tock the whole thing looks like a big circl..."
Adam delves into the first component of his growth competency model: growth execution. He outlines three critical skills—channel fluency, experimentation, and productizing learnings—essential for growth practitioners. He emphasizes the importance of evaluating candidates based on their experience in these areas.
"main components to the growth competency model and the four big components or buckets are growth execution customer knowledge growth strategy and then the last one was communication and influence and ..."
Adam discusses how the growth competency model can be utilized during the hiring process. He suggests that candidates can use it as a reverse interviewing tool to align their strengths with the expectations of founders, ensuring a better fit for growth roles.
"one of like an example of the overall set of competencies to throw in a question real quick is one way to use this model coming back to your wisant example whether it's because misalignment between yo..."
In this segment, Adam explains the second component of the growth competency model: customer knowledge. He highlights the importance of data fluency, understanding user psychology, and the ability to experiment and learn over time, stressing that emotional factors often drive customer behavior.
"be really candid about what you're good at and what you're not good at where you're kind of developing so yeah I agree with that for sure awesome I know this also plays into evaluating your performanc..."
Adam emphasizes the significance of user psychology in growth strategies. He argues that understanding the emotional state of customers is crucial for effectively addressing their needs and developing products that resonate with them, rather than solely focusing on logical appeals.
"and your creative approach to talking to customers I love user psychology and it's like one of the things that I think attracted me to growth and to product I studied consumer psychology when I was in..."
Adam discusses the common misconceptions surrounding user research, explaining that it should inform a model of the customer rather than dictate product development. He shares insights on how evolving customer models can enhance understanding and improve product offerings.
"that's sort of the second competencies is customer knowledge it reminds me of something I mentioned on some podcasts recently this tweet that one of the Collison Brothers tweeted about how user resear..."
Adam introduces the third component of the growth competency model: growth strategy. He outlines three key skills: growth loop modeling, capital allocation and forecasting, and prioritization and road mapping, emphasizing the need for strategic thinking in growth roles.
"would expect a a more Junior growth person to not necessarily be a 10 out of 10 on strategy and communication these are things that you really have to work at a long time they tend to be softer skills..."
In this segment, Adam discusses the fourth component of the growth competency model: communication and influence. He highlights the importance of strategic communication, team leadership, and stakeholder management, noting that these skills are crucial for successful growth practitioners.
"there's a lot of ways to test this sort of stuff situational behavioral interviewing I talk a lot about this in my posts on hiring growth there's like very specific questions you can ask to understand..."
Adam advises founders on hiring strategies, suggesting they focus on smart, driven individuals who may be less experienced in growth but possess strong foundational skills. He emphasizes the value of internal hires and the importance of mentorship and support for junior growth professionals.
"where you have to go back to square one and relearn who the people are that you're working with every time you step into a new role or a new company or get a new leader or something like that so it ca..."
Adam stresses the necessity of providing mentorship and guidance to junior growth hires. He shares anecdotes from his career, illustrating how investing in the development of less experienced team members can lead to successful growth outcomes.
"on a head of growth role so a question for you is one is do you recommend Founders focus on finding someone that's more up and coming and fast learning with a high trajectory and if so which of these ..."
Adam recounts his experience hiring Ben Lazier at Lyft, a candidate who demonstrated strong growth execution and customer knowledge. He emphasizes the importance of work ethic and execution skills in early-stage hires, showcasing how Ben's background as a Lyft user contributed to his success.
"over in my in my career so think tangible examples are really helpful here so when I was at Lyft I had the privilege of hiring that young smart and driven person a bunch of times but one of the people..."
Adam shares a memorable story about Ben's work ethic during his interview process at Lyft, highlighting how his commitment to completing tasks for his current job showcased his execution mindset. This anecdote illustrates the qualities that make a candidate stand out in growth roles.
"younger sort of earlier stage person because you know teaching somebody how to execute is not that fun right that's a hard skill like the ability to execute is something like executive function skills..."
In this segment, Adam contrasts his experiences with internal and external hires, sharing a success story about moving Sean from marketing to a growth PM role at Patreon. He discusses the advantages of internal hires, such as existing customer knowledge and quicker ramp-up times.
"so he was ducking out of work to do the interview and he actually came out of the office and he is like hey does anybody have a computer that I can borrow and so we gave him this like kind of old crap..."
Adam advocates for internal hiring as a strategy to create opportunities within a company. He explains how internal candidates can leverage their existing knowledge and motivation to transition into growth roles, ultimately leading to faster results and reduced hiring risks.
"was another person named Sean at patreon who was a marketer again sort of like a jack of all trades marketer and I think I have a propensity and a bias towards folks like that because that's one of th..."
Adam discusses the distinction between hiring specialists and generalists in growth roles. He emphasizes that while specialists are essential for specific skills like SEO, generalists can provide a broader perspective and adaptability, making them valuable in early-stage growth teams.
"up and coming smart I tend to skew more towards internal hire to be perfectly honest because I believe in creating opportunity inside a company I think it's not done often enough and I also believe th..."
In this segment, Adam elaborates on the complexities of hiring specialists for growth roles, particularly in areas like SEO and paid growth. He notes that these skills require extensive experience and cannot be easily taught, making it crucial to hire the right expertise when needed.
"is the right approach once you've got some of the foundational stuff in place awesome great yeah it feels like there's like still a lot of Dark Art in those two Specialties that take years of experien..."
Adam shares his passion for optimizing onboarding processes as a critical lever for growth. He explains that onboarding is the only part of the product experience that every user will encounter, making it essential for delivering on brand promises and ensuring customer satisfaction.
"Apple to power their experiments wherever you work running experiments is increasingly essential but there are no commercial tools that integrate with a modern grow team stack this leads to wasted tim..."
In this segment, Adam discusses how effective onboarding drives habit formation and retention. He shares concrete examples of how improvements in onboarding at Patreon led to significant increases in revenue and customer lifetime value, emphasizing the importance of this process.
"second topic which is onboarding I know you're a big proponent of spending time on onboarding optimizing onboarding have you found onboarding to be as a lever for growth and just what gets you excited..."
Adam details the strategies implemented at Patreon to personalize the onboarding experience for creators. He explains how identifying creator profiles and connecting them with the right resources during onboarding can significantly impact their early revenue and overall success on the platform.
"on this extensively at Lyft at patreon wiseant imperfect Foods just released some onboarding improvements that we had created when I was there which was nice to see that finally come to light so yeah ..."
In this final segment, Adam discusses the data-driven approach taken at Patreon to enhance onboarding. He explains how leveraging data from creators' social media engagement helped tailor the onboarding experience, ultimately leading to improved outcomes and scalability of the onboarding process.
"by 25 we were then able to improve their overall value on patreon by an equivalent amount which is pretty massive moving anything by 25 is really impressive and so that was a human intervention and th..."
In this segment, Adam shares the strategies used at Patreon to identify high-potential creators during onboarding. By analyzing audience engagement across various platforms, they could tailor support for creators with the highest likelihood of success, enhancing their onboarding experience.
"useful to folks gosh we did so much so I'll try to pull out like a couple of examples so one of the things that we did and again I spoke to the fact that people are really motivated in your onboarding..."
Adam explains the concept of 'opinionated defaults' at Patreon, where they designed the onboarding process to encourage best practices for creators. By making it easier to choose effective options while still allowing for flexibility, they aimed to drive better outcomes for creators.
"criteria per Channel and again this was not just like me inventing this like we had a data scientists team that we worked very closely with to kind of figure out what was important and what wasn't in ..."
Adam emphasizes the dual role of onboarding as both a conversion and retention strategy. He discusses how effective onboarding can lead to higher retention rates by ensuring users connect with the product's value early on, ultimately fostering long-term engagement.
"could still set up a single tier when we knew that a three-tiered pricing model actually would work better for them or they could choose to set up 40 tiers when we knew that The Sweet Spot was three t..."
In this segment, Adam shares insights on the balance between conversion rates and retention during onboarding. He suggests that sometimes a decrease in conversion can be acceptable if it leads to higher retention of more qualified users, ultimately benefiting the product.
"learned that from Human intervention with the right types of creators then detecting those people and putting in the guardrails in the product themselves and making those recommendations inside the pr..."
Adam discusses the importance of using proxy metrics to evaluate onboarding success and retention. He shares how Patreon identified early indicators of creator success, such as reaching financial milestones quickly, to predict long-term retention and engagement.
"your point about and I was going to come back to this that a lot of people think of onboarding as a conversion opportunity and it definitely is but to your point even more interestingly it's a retenti..."
Adam stresses the need for companies to regularly revisit and optimize their onboarding processes. He warns against redesigning for the sake of change and advocates for updates based on new insights about users and their behaviors.
"than conversion obviously retention is a longer tail metric and conversion is like immediate do you have any tips for folks that are like oh my God how do I know if this conversion hit is worth retent..."
In this segment, Adam discusses the benefits of having a dedicated onboarding optimization team in larger companies. He highlights how such a team can ensure that onboarding remains a priority and evolves with the product and user needs.
"the right sort of things to her new users yep maybe our last question onboarding is at Airbnb at imagine many companies there's this like constant desire to like let's just redo this whole thing let's..."
Adam introduces his PMF framework for evaluating potential employers, focusing on People, Mission, and Financials. He explains how candidates can use these criteria to assess whether a company aligns with their values and career goals, especially in the context of recent layoffs in the tech industry.
"early users so don't just redesign for redesign's sake make sure there's a a new hard-earned insight that you've got before you do it do you think that scale companies I don't know maybe like after hu..."
Reflecting on his career, Adam Fishman shares lessons learned from evaluating companies poorly in the past. He contrasts successful experiences at Lyft and Patreon with challenges faced at Imperfect Foods, highlighting the importance of thorough evaluation criteria and the consequences of shortcuts.
"and so that's the pmf framework and and evaluating across those Dimensions is super important I've done it two times in the last 10 to 15 years and I've done it poorly two times in the last 15 years a..."
Fishman advises prospective employees on the significance of observing company dynamics before accepting a job offer. He suggests attending executive meetings or off-sites to gauge team interactions and communication styles, which can reveal the true culture of the organization.
"the time and not resolving disagreements productively and when that happens it's hard to be a product or a growth leader because you bear the brunt of The Angst that people have so anyway so those are..."
In this segment, Adam Fishman draws parallels between job searching and investing, emphasizing that time is the most valuable resource. He encourages candidates to conduct thorough due diligence on potential employers, including back-channel references, to ensure a good fit.
"much time with these people and you meet them like once in a half hour interview and then you yeah decide if that's your life for the next four four five ten years well one thing that I would say is l..."
Adam Fishman shares how listeners can connect with him through social media and his newsletter. He invites those interested in advisory relationships or seeking guidance on growth and product strategy to reach out, emphasizing his commitment to helping others succeed.
"example that was super impressive a PM who worked for me at patreon who you know tall review um shout out to all shout outs it's all um who works on this product that we're recording on right now shou..."