Focus for this week is Growth. Paul Graham has said that the only essential thing for a startup is growth. Yelp is one of the quintessential app which mostly everyone has installed on their smartphones. Recently, Yelp has had some growth challenges. Google ranking algorithm, Apple maps removing Yelp and Amazon entering service market have all created major problems for Yelp. Following solutions were discussed for Yelp to fire the Growth engine.
1. Yelp should enter the transaction business.
2. Yelp should focus on areas that capture all stages of the user journey. At this time Yelp is focused on research only, by entering into online ordering and payments. Yelp can increase engagement.
3. Yelp can help onboard local business by help create a website and help setup a banking/financial infrastructure.
4. Yelp should have more personalized recommendations to increase engagement.