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ICED Theory of Growth
Read time 1.9 minutes
Towards the end of last year, I saw a new challenge arising for companies raising venture capital: They were being asked about the ICED Theory of Growth.
This theory is essentially supposed to help you judge how attached to your product consumers are. This is increasingly important as investors are concerned about a recession, so let’s look at the ICED Theory of Growth so that you can effectively apply it if VCs ask.
I am not a growth/product expert, so much of this information was taken from the Just Product Management substack!
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The ICED Theory provides four metrics upon which you can measure your product. I’ll use my newsletters, for example:
I: Very Frequent
C: Little/No Control over Experience to Users (You can send requests, but that is about it).
E: Low Engagement (You don’t need to do anything, just read).
D: Somewhat Distinctive (I'm quite sure I have top 1% content, but there are definitely others who can share some fundraising insights).
If I were pitching this newsletter to VCs, I’d need to focus on increasing engagement and user control over the experience. That could mean starting a community or building an app. Both of these would be a great way to improve my product and growth potential further.
Overview
This was a little different and outside my comfort zone, but I’ve seen this coming up and want you all prepared when VCs ask the question. You can also use it pre-emptively to improve your product/growth roadmap or show VCs your uniqueness.
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Onwards and Upwards,
P.S. It would greatly help me if you could share the newsletter with more founders to help grow our community!
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