The Community Playbook Cheat Sheet

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This week, The Community Fund’s LP, Flybridge Capital, released The Community Playbook, a guide to help founders set up their communities and leverage community as their differentiation moat. It’s an awesome playbook (Jesse and I edited it 😉). You can check it out here.

To complement the playbook, in this The Community Playbook Cheat Sheet post, I share a short Q&A + a check-list + my notes to get you started on building your company’s community.

Q&A

Before you launch a community you need to answer a few questions.

  1. Why — Why do you want to build a community? Do you see the community as your product or does the community add to your product development and your company’s growth?
  2. What? — What mission/values will bring your community together?
  3. Who — Who is the target persona for your community? In other words, what kinds of people will it bring together?
  4. Where? — Where will your community come together? Are you planning to leverage a proprietary platform, Slack, Facebook groups, WhatsApp?

Check-list

After you answer the questions above, make sure you check off the check-list below for a smooth sailing community. A solid community has:

1) A community foundation that includes…

  • a clear purpose + values members align with
  • a community that’s easily accessible to members
  • incentives and rewards for participation

2) A community manager with the following skills…

  • Customer support
  • Content generation
  • Social media marketing
  • PR and branding
  • Internal navigation

3) A community manager that works with her/his principal to…

  • be intentional about building community (see Q&A section above)
  • looks for opportunities to leverage and integrate community into product/service with feedback loops
  • designs a self-sustaining community that supports itself and where members can create/share value with one another

4) A community manager that measures community return on investment (CROI)

  • Why do it? To justify spend and lean into the community efforts that are working (and lean out of those that are not)
  • What are the community benefits to expect? Increase in sales pipeline + deal size, increase in product adoption, product improvement, lowering CAC, developing a differentiation moat, and more
  • How to measure Community Return On Investment (CROI)? Use this formula: CROI = (value gained — cost) / cost. For details and examples of how to use this formula, visit The Community Playbook, Chapter 4.

CROI = (value gained — cost) / cost

Notes on Community Dynamics

  1. The community manager can sit in different parts of a company
  2. A community manager should help guide community members through 3 stages: awareness of, attention to, and engagement with your community (in this order)
  3. Your community members ideally go from casual to regular to core (integral) members in your community

More Resources

To dive deep into building a community-driven company, read The Community Playbook, and follow along at @thecommunityvc. 😊

Other resources you may enjoy:

  • Thread — community-driven companies
  • Thread —community experts
  • Thread — community builders
  • Thread — The Community Fund
  • Book — People Powered by Jono Bacon
  • Book — Get Together by Bailey Richardson
  • Post — Community-Driven Companies: What They Are and Why We’re Investing in Them
  • Post — The Community Fund: How We Source, Select, and Support Startups

B2B Community additional reads include:

About investing in community-driven cos + supporting our underestimated founder/investor fam. @lolitataub

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Lolita Taub

Lolita Taub

About investing in community-driven cos + supporting our underestimated founder/investor fam. @lolitataub

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