Known People & Brands: #1:
Have an easier time attracting attention & press #2: Earn links, rankings, & traffic organically with far less effort #3: Have lower ad costs & higher clickthrough rates #4: Every visit is more valuable b/c of higher conversion rates #5: Benefit from a powerful network & low friction, high response outreach efforts
For a Long Time, I
Believed the Classic Advice Big Markets > Small Markets Execution > Ideas Low CAC + High CLTV > Products People Love Better Product > Better Marketing These aren’t all wrong, they’re just not the whole story
Before, Things Were Like This
Here’s How The problem triggers a negative emotion The resolution triggers a positive emotion Our Company is the Solution
To Craft Your Story: Start
with the most emotionally resonant problem you solve Center the story on individuals, not groups Tell the story in a way that triggers your own emotions Practice the story over and over, with different variations, learning which styles and bits resonate most
Relative Difficulty Level: Insane Build
for an audience that you don’t have any connection to (other than a belief that they have $$ and a problem) Chase a market that’s big enough to have billion $+ outcomes by pursuing broad, mainstream appeal Serve a hot, growing market that dozens or hundreds of other well- funded companies are also pursuing
Relative Difficulty Level: Low Build
for people who already know, like, and trust you Earn amplification from a group of passionate, raving fans Serve a market that’s underserved because others don’t believe it’s “big enough” Avoid competing against firms with millions in funding
easier to reach harder to
reach Know you personally (& would happily meet for coffee) Know of you, like you, & follow your work closely Are already connected to you via email Already follow you on social media channels Have visited your website at least once Have heard of your company (and can recall it) Are in your target audience/reachable via FB+GG ads
easier to reach harder to
reach Know you personally (& would happily meet for coffee) Know of you, like you, & follow your work closely Are already connected to you via email Already follow you on social media channels Have visited your website at least once Have heard of your company (and can recall it) Are in your target audience/reachable via FB+GG ads Pro Tip: Having a lot of target customers in your personal network makes EVERYTHING about starting up easier.
Glorifying Hours Worked is Just
Dumb “Be extremely tenacious and then just work like hell. You just have to put in 80 to 100 hour weeks every week.” “If other people are putting in 40 hour workweeks and you’re putting in 100 hour workweeks, then even if you’re doing the same thing … you will achieve in four months what it takes them a year to achieve.” -Elon Musk Via Vator.tv
Productivity Over Time 40 30
20 0-20 QuantityofOutput PerHourWorked Number of Hours Worked/Week 50 10 0 21-35 36-50 51-60 61-80 81+ The first ~35hrs we work each week tend to be the most productive After 60+hrs, we’re not just getting less (& lower quality) work done, we’re eating into next’ week’s potential productivity
All of these are on
the table: Self fund Bootstrap Revenue loans Smallbiz loans Friends &family Angel $ Conv. debt Crowd- funding VentureAccel- erators Exit Requirements 5+ Year Survival Rate 10X+$$$ orbust 5%+YoYis totallycool <10%50%+
All of these are on
the table: Self fund Bootstrap Revenue loans Smallbiz loans Friends &family Angel $ Conv. debt Crowd- funding VentureAccel- erators We need to stop worshipping & amplifying only these And start telling stories, and elevating all the rest of these
You Don’t Have to Follow
Anyone Else’s Path Ask Yourself: What do I want to create? What am I seeking professionally? What level of risk is acceptable? What level of reward is enough? Why that? Is it for me? Or someone else?
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