How to get 60% referral rates for a cohort-based community
Nov 8, 2024
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In this insightful discussion, Anthony Nardini, Program Director at On Deck and founder of Next Careers, shares his expertise in helping senior operators transition in their careers. He reveals how 60% of members refer friends to his community by fostering a supportive environment and ensuring careful curation of participants. The conversation covers the importance of storytelling, structured practice sessions, and how personalized experiences enhance engagement. Anthony emphasizes building genuine connections while navigating the complexities of job searches in a collaborative setting.
The competitive selection process, involving 250 interviews for 100 spots, ensures high-quality membership in the community.
Creating a supportive environment that normalizes vulnerability helps senior professionals navigate the uncertainty of career transitions.
A systematic referral strategy coupled with automation tools significantly enhances community growth and operational efficiency.
Deep dives
Cohort Selection and Community Engagement
The community hosts a competitive selection process for its cohorts, which comprises 100 members from over 700 applicants. The high candidate pool allows for a rigorous interview process, with around 250 applicants being interviewed to ensure quality. A notable aspect is the referral system, where almost 60% of new members are recommended by existing members, highlighting the value placed on connections. Members are encouraged to refer their most talented friends who are startup-focused, creating a community built on mutual support and shared goals.
Importance of Vulnerability in Transitions
The community fosters an environment of vulnerability, vital for individuals navigating career transitions. Many members are senior professionals facing uncertainty about their next career steps, which makes open discussions about challenges crucial. This environment allows members to share their journeys, overcoming the stigma of appearing successful at all times. By normalizing the uncertainty of career transitions, the community helps members support one another in a meaningful way.
Cohort Programming and Member Support
Cohort programming is structured to facilitate job search skills, connections with venture capital firms, and community bonding activities. Initially designed as an intensive eight-week schedule, it evolved into a more flexible ongoing framework after feedback indicated that job search processes extend beyond arbitrary timelines. Members can attend live workshops, office hours, and practice sessions that reinforce skills learned through the workshops. The focus on actionable support enables members to receive immediate feedback and connect over their respective asks and offers.
Referrals as a Core Growth Strategy
Referrals play a critical role in the community’s growth, with a systematic approach to encourage member participation. Members are invited to refer talented friends through various touchpoints, including welcome emails and regular check-ins. This strategy involves crafting compelling forwardable emails to minimize friction in sharing the opportunity with potential candidates. By establishing a culture of mutual support and consistently asking for referrals, the community successfully attracts quality candidates while ensuring existing members remain engaged.
Infrastructure and Automation for Success
A robust infrastructure is deemed crucial for the smooth operation of the community, particularly given the high volume of applications and member activities. Key tools, like Airtable and Make, streamline the admissions process and automate various backend functions, allowing for efficient management. The infrastructure supports qualitative assessments of applicants, ensuring that only suitable candidates are chosen, thus fostering excellence within the community. Integrating automation into various segments of community management helps maintain focus on engagement and programming rather than administrative tasks.
Continuous Improvement Through Experimentation
Continuous improvement is a driving force behind the community’s evolution, with regular experimentation informing programming changes. The founder conducts feedback surveys on a cohort basis, assessing what works well and what can be improved. By testing different formats for live events, such as pairing VC firms or transitioning to more interactive sessions, the community adapts to members' needs. Embracing change keeps the programming fresh and engaging while enhancing the overall member experience.
As Program Director at On Deck and now founder of Next Careers, Anthony Nardini has helped 1000+ senior operators navigate career transitions.
In this episode, he shares his playbook at Next Careers, where senior execs pay $2k to join a community that helps them land their next jobs — and 60% of them refer their most talented friends. With 700+ applications for 100 spots per cohort, his secret is extreme curation and high-touch service.
This is a must-watch for anyone building high-end communities or cohort-based programs.
If you enjoyed this episode, you should sign up for Beginner Maps to get the "magic sauce" of top creators like Carrie - https://beginnermaps.com/
Resources:
• Curated Connections, the automated matchmaking platform that Anthony uses - https://curatedconnections.io/
• Next Careers - https://nextcareers.co/
• Anthony's LinkedIn - https://www.linkedin.com/in/anthonynardini/
• Nityesh's LinkedIn - https://www.linkedin.com/in/nityeshaga/
Chapters:
00:00 Intro
03:05 What's Next Careers
04:46 Creating a supportive environment
07:07 Onboarding and Core Values
08:34 Anthony's journey to Next
13:15 Selection Process and Criteria
16:54 Interview Logistics and Alumni Involvement
19:19 Structure of a 30-min interview
26:43 Having confidence in your offering
30:28 Volunteer program
35:24 8-week cohort to evergreen model
40:49 Connection and Mastermind Groups
41:00 Quick Asks Session
42:06 Structure of Practice Sessions
44:53 How to ensure Quality Feedback in breakouts
47:13 High Production Value Community
48:39 Big Asks Session Structure
52:26 Experimenting with Community Formats
56:27 Automations behind the scenes
01:02:49 Team Structure and Operations
01:05:14 Referral Strategies
01:09:10 Forwardable Emails and Referrals
01:12:15 Final Thoughts
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