How To Start A $1,000,000 Business With 0 Employees
Noah Kagan of AppSumo interviews 3 entrepreneurs who make over $1M/year with no employees for their best advice.
(Sam Parr, Justin Welsh, and Neville Medhora)
Startups
How Pat Walls Grew Starter Story Into a $1.1 Million Business
Chenell Basilio of Growth in Reverse breaks down how Starter Story grew to over 100k subscribers and now makes an estimated $96k per month.
Big Ideas:
► Standardized interview questions allow the site to publish over 1000 startup interviews every year
► SEO is the primary audience driver with over 1.4m monthly visits to the site.
► Pat does a lot of testing to find out what works
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Lessons from Hormozi’s Book – $100M Offers
Tim Stoddart and Ethan Brooks discuss some key takeaways from Alex Hormozi’s popular book, $100M Offers.
Tim shares how he is applying the lessons to his own marketing agency.
Related Link:
Comprehensive summary of $100M Offers
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How to 10x Your Chance at Startup Success
The number one advice that investor James Beshara gives startups is:
Fix a problem you yourself have and have already started to build a solution for.
Fix a problem you yourself have and have already started to build a solution for.
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What it takes to have a successful Kickstarter campaign
The founders of SleepOut have presold over $200k of their portable blackout curtains on Kickstarter. This post shows the amount of work and investment required to be successful.
Big Idea: Crowdfunding platforms like Kickstarter can be a great way to presell a product to raise money for a new startup idea. While sourcing and delivering physical products is challenging, there are definitely interesting business opportunities for creators.
via @ebizfacts
Big Idea: Crowdfunding platforms like Kickstarter can be a great way to presell a product to raise money for a new startup idea. While sourcing and delivering physical products is challenging, there are definitely interesting business opportunities for creators.
via @ebizfacts
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How OnlyFans competitor Sunroom got started
Here is an interesting post on how to leverage an established competitor to validate your startup idea.
“To learn more about the OnlyFans universe, Lucy started playing around with the product both as a fan and as a creator. She got deeper and deeper into the community and started interviewing other creators to learn more about their experiences. In addition, Lucy joined several OnlyFans creator-only telegram groups, where she would learn about the problems of the platform.”
“It became obvious that it was women, non-binary, and femme-identifying creators who most often were affected by stigmas as they asked for more and showed more in their pursuit of wealth. They are not monetizing beyond brand deals but are looking for ways to have a more reliable and consistent income stream.
Sunroom was born to create safe and celebrated sources of income for this underserved creator community.’
“To learn more about the OnlyFans universe, Lucy started playing around with the product both as a fan and as a creator. She got deeper and deeper into the community and started interviewing other creators to learn more about their experiences. In addition, Lucy joined several OnlyFans creator-only telegram groups, where she would learn about the problems of the platform.”
“It became obvious that it was women, non-binary, and femme-identifying creators who most often were affected by stigmas as they asked for more and showed more in their pursuit of wealth. They are not monetizing beyond brand deals but are looking for ways to have a more reliable and consistent income stream.
Sunroom was born to create safe and celebrated sources of income for this underserved creator community.’
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The Ultimate Guide to Making Ideas Happen
Srinivas Rao of Unmistakable Creative has published a comprehensive guide on how to execute on your projects. It covers: Managing your attention, Creating the Right Environment, Building Systems, Creating the Right Habits, Community and Promotion. There are many valuable ideas here.
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Why Blacksmiths are Better at Startups than You
“Business is a reality engine: Don’t work on the basics every day? You’ll fail. Don’t market constantly? You’ll fail. Don’t solve your customer’s pains? You’ll fail. Don’t ship? Ha! There you go: business in four sentences.”
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Here Is How These 5 Side Projects Became Unicorn Startups
Craiglist started as an email list of events in San Francisco. MailChimp started as tool to help consulting clients get more customers. It was ran as a side project for 6 years.
Slack was a pivot from an online role playing game. The remote team built an internal tool to help them chat with employees more effectively.
GitHub started as a weekend project to help developers share code.
Groupon was supposed to be a social media platform that helped people solve problems together. Some users used the site to get a group discount. The company decided to make a new site dedicated to group buying.
Some of the best businesses started as something completely different. It usually takes hard work and some luck to discover a good business idea.
Slack was a pivot from an online role playing game. The remote team built an internal tool to help them chat with employees more effectively.
GitHub started as a weekend project to help developers share code.
Groupon was supposed to be a social media platform that helped people solve problems together. Some users used the site to get a group discount. The company decided to make a new site dedicated to group buying.
Some of the best businesses started as something completely different. It usually takes hard work and some luck to discover a good business idea.
Go to Link
A Customer Acquisition Playbook for Consumer Startups
Here is another more focused take on customer acquisition from Dan Hockenmaier (founder of growth strategy firm Basis One and former director of growth marketing at Thumbtack) and Lenny Rachitsky (a former product lead and head of consumer supply growth at Airbnb).
For consumer companies, there are only three growth “lanes” that comprise the majority of new customer acquisition:
1. Performance marketing (e.g. Facebook and Google ads)
2. Virality (e.g. word-of-mouth, referrals, invites)
3. Content (e.g. SEO, YouTube)
Here is their 3-Step Framework:
1. Validate that a lane is right for you
2. Commit the necessary resources to give the lane a real shot
3. Scale the investment to become world-class
via indieletters.com
For consumer companies, there are only three growth “lanes” that comprise the majority of new customer acquisition:
1. Performance marketing (e.g. Facebook and Google ads)
2. Virality (e.g. word-of-mouth, referrals, invites)
3. Content (e.g. SEO, YouTube)
Here is their 3-Step Framework:
1. Validate that a lane is right for you
2. Commit the necessary resources to give the lane a real shot
3. Scale the investment to become world-class
via indieletters.com