“We are living through the emergence of a new business category that doesn’t even have a name yet, but which I believe will become an important part of our digital lives: online communities at the intersection of content curation and knowledge management. “
In our world of information overload, curation is becoming more critical to keep up with and succeed in fast-changing business environments. I started this curated IdeaEconomy newsletter because I think it is critical for entrepreneurs to keep up with trends and skills to maximize their startups success.
Here is a great interview with Joel Runyon of ImpossibleHQ. His story is a very expiring example of all the opportunities available to entrepreneurs now. He has bootstrapped multiple businesses, ran 7 ultramarathons on 7 continents to build 7 schools for PencilsofPromise, and he has a great brand with Impossible.
“Joel Runyon started Impossible in 2010 as a way to push his limits and do something impossible. He’s a driven and determined entrepreneur, blogger, and athlete, and his lifestyle challenges have allowed him to set records and give back by supporting charity.”
“While running his brand, he’s also running multiple other brands such as a meal plan company, a fitness app, a productivity app, as well as being an advisor to multiple other companies.”
There are so many great lessons here:
-Blogging and podcasting to build an audience and become well known. -Doing interesting things like running ultramarathons around the world, raising money for charity, and doing cold shower therapy. -Writing evergreen content to get found in search engines. -Guest posting for early traction. -The value of great branding with Impossible and the 777 project.
Here are some frameworks for thinking about new startup ideas:
-Bottom up vs Top Down -Find Founder-Market fit -The 10x rule -Leverage Enabling Technologies -Answer “Why Now” -Figure out how to utilize otherwise idle assets. -“When they go high, you go boring” -Don’t pick bank shot ideas
If you are stuck on coming up with your next business idea, systematically exploring different frameworks can help.
“You know the old expression, “Pull yourself up by your bootstraps?” It applies to your startup, too. Bootstrapping your startup means growing your business with little or no venture capital or outside investment. It means relying on your own savings and revenue to expland”
“When I started on Twitter I had no idea what I was doing. So I made one big Google Doc where I started saving all the best “brand tweets” and grouped them into categories. Today, it’s ready to share. I hope you find it useful.”
Harry Dry has some great practical examples on how to be more effective on Twitter.
However, there is a more important lesson. Harry, is keeping a document of good business tweets he sees. Documenting and studying what works is the only way to improve. This can be done for all aspects of work and life.
How about keeping a record of and regularly reviewing: – good landing pages – interesting article titles in your niche – email subject lines that get you to open – IndieHacker topics that get the most upvotes – Reddit posts in your niche with the most upvotes
There is a reason that Harry has added tens of thousands of email subscribers in a short time. It’s because he has a systematic process to continually improve.
Here is an interested thread on how being creative with those ideas can really explode your marketing.
Steve Lamar wrote a joke Twitter thread of how he went from 143 followers to 150 in just 6 months. Yes, it’s only 7 followers. He used the extended thread format that many are using to grow their following.
At the time I’m writing this, he has over 17,000 followers and it continues to grow. Humour can work if done right.
“What makes you new, different, and unique in the world will often be the exact thing that makes you succeed. Embrace your differences, and you’ll find something amazing in there. Learn how founders like Steve Jobs, Bill Gates, Ryan Petersen of Flexport, and Jack Conte of Patreon did exactly that: learn things from unique personal experiences that put them on the right path.
And if you can do that, you avoid infinite competition. You can make something truly awesome. “
James Altucher is one of the most interesting people I’ve found online. He is an author, popular podcaster, financial writer, standup comic, chess master, entrepreneur, and probably many other things I’m forgetting.
In this podcast, he provides background information on many of the endeavors he’s tried, failed, and succeeded at. It’s a great lesson in just trying stuff and taking bold action. I highly recommend listening to this episode.
“Most things that you do, should fail. If you don’t fail enough, means you’re not doing enough experiments. The more experiment you do, the more interesting life, experience, and the more successful you’ll have!”
Shaan Puri and Sam Parr have another insightful conversation on the My First Million Podcast. There are two big ideas here:
Shaan talks about the value of telling stories around key ideas you want to be known for.
– Amazon famously used doors for desks in its early days. That tells a great story about the frugality and focus of the company when it was getting started. – Shaan wants to be known as bold, so he tells the story of how he contacted a famous chef for advice immediately after getting the idea to start his sushi restaurant.
What do you want to be known for? Tell stories that embody those characteristics. This is a worthwhile exercise to spend some time on
Business Opportunity: Later in the podcast they introduce a great business idea.
The simple landing page builder Carrd is taking off just because it is so simple to use. It doesn’t have the features of bigger landing page builders, but that is what makes it so easy to use.
Shaan thinks there is a good opportunity to do this for Shopify stores. Everyone needs landing pages for special offers, events, etc. A simple landing page builder for this market could do very well.
Since it was mentioned on the popular My First Million podcast, you can bet that many will be working on the idea now. May the best startups win. There is room for more than one company to do this.