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Startups

Startup School: How to Get and Evaluate

Startup School: How to Get and Evaluate

YC Group Partner Jared Friedman shares a framework for how to get and evaluate startup ideas. 

Big Ideas:
► Start with a problem
► Avoid tarpit ideas that are very difficult to solve.
► Think of your first idea as a starting point
► Competition is good. It shows there is a market for the idea.
► Don’t worry about your passion for the idea. Ideas grow on founders if it starts to work.
► Look for ideas in your area of expertise for Founder Market Fit.

Sara Dietschy: Creator Raising $350,000 on Kickstarter

Sara Dietschy: Creator Raising $350,000 on Kickstarter

Sara Deitschy’s Kickstarter campaign to sell creator desktop accessories has now raised over US$350k. She has 872k followers on YouTube and had her first viral success when Casey Neistat promoted her video. 

Big Idea: Physical products are difficult to manufacture and deliver, but can be a good business model for creators.

Building a 400K Subscriber Newsletter – The Gist

Ellen Hyslop - The Gist Newsletter Co-Founder

Building a 400K Subscriber Newsletter

“The Gist is a newsletter all about sports, written entirely by women. Ellen and her co-founders have scaled a massive team to 20 people. They’ve grown The Gist to almost 400,000 subscribers, and they’re earning fantastic revenue from it.

Ellen talks about how they grew The Gist in the early days. She also talks about their process of testing, how they launched with a launch party, and a bunch of other things.”

Big Idea: Newsletters and other content-focused businesses can be big businesses if approached with a startup mindset. The Gist started with multiple co-founders and raised over $1m to build the business.

Alex Hormozi – Broke At 26 To $100 Million By 31

From Broke At 26 To $100 Million Net Worth By 31

Sam Parr and Shaan Puri interview Alex Hormozi to discuss his journey from sleeping on gym floors to making millions.

After advice from Russell Brunson of ClickFunnels, Hormozi changed his business model from running gyms to teaching gyms how to get more customers.

“You are in a level 2 business opportunity with a level 10 skill set.”

I highly recommend listening to the full interview. There are some big insights for sales and entrepreneurship. I’ve listened to it a few times now.

50% of Success is Market and Idea Selection

50% of Success is Market and Idea Selection

This is a short tweet by Romeen Sheth, but a huge insight.

Many people say that ideas are worthless and execution is everything. However, growth is so much easier when you start with a good idea.

“A big mistake many first-time founders make: Spending too little time on market + idea selection. 50%+ of the outcome of your startup is baked into what you decide to work on and when.”

My favourite quote on this topic is from James Clear;

“If you’re not working hard, ideas don’t matter. The best idea is worthless without execution.

If you’re already working hard, ideas are crucial. Most effort is wasted on mediocre ideas.”

Nathan Barry on niching down and doing unscalable things to build your business

Nathan Barry on niching down and doing unscalable things to build your business

“My SaaS business hit $1,500 MRR and then got stuck. Until I learned an important trick…Here’s the exact method I used to scale to $100k MRR in the next 12 months.”

This is a solid blueprint for creators as well.

My SaaS business hit $1,500 MRR and then got stuck.

Until I learned an important trick…

Here’s the exact method I used to scale to $100k MRR in the next 12 months:

— Nathan Barry (@nathanbarry) January 15, 2022

How To Begin (with Michael Bungay Stanier)

How To Begin (with Michael Bungay Stanier)

“Today’s guest has accomplished a lot of big things. He’s a Rhodes Scholar, successful consultant, author of the international best-selling book The Coaching Habit, and also the author of the new book How To Begin. In this episode, he shares a practical, step-by-step method for moving your big ideas forward.”

Highlights: 

• Michael’s team works in 6 weeks intervals with a two-week break to evaluate and recalibrate.
• It takes about 5 years to do a big idea. How many big ideas do you have in your life?
• Most people give up too soon, rather than hang on too long.

Create products that people love by validating your idea first

Create products that people love by validating your idea first

Great specific blueprint to follow with multiple examples.

This is a great post to review when you are thinking about a new business idea.

“Here’s a three-step process you can use to validate ideas:

• Create a problem hypothesis from your idea
• Set up a system to pull people to you
• Find the pattern of pain”

Create products that people love by validating your idea first

Start a Business, Not a Startup

Start a Business, Not a Startup

 Jason Fried and David Heinemeier Hansson share why you should start a business, not a startup.

“A business without a path to profit isn’t the business. It’s a financial instrument, because that’s what this has become, like startups or like NFTs you’re hoping to sell it on to the greater fool, someone who will just pay more money for your shares, not because there’s something underlying there that necessarily has value, but simply because this is how we pass things around.”

Summary of Jack Butcher’s Million Dollar Build Once, Sell Twice Course

Summary of Jack Butcher’s Million Dollar Build Once, Sell Twice Course

Simple overview of Jack Butcher’s course that had sales of over $1m in 2021.

https://twitter.com/dickiebush/status/1338248613785440257

“Here’s the operating system:

1. Start sharing ideas
2. Attract like-minded people
3. Figure out their problems
4. Build products that solve their problems
5. Extract proof you’ve solved their problem
6. Document/share your process along the way (which becomes a product)”

How Jack Butcher Used Twitter to Generate $1m in 18 months

How Jack Butcher Used Twitter to Generate $1m in 18 months (From Scratch)
Interview with Jack Butcher of Visualize Value on the My First Million podcast.

“Jack Butcher talks about how he’s built up Visualize Value and “Build Once, Sell Twice”, where he’s productized his services. Sam and Jack talk about scaling to $1m in revenue in 18 months, plus other opportunities that Jack sees for content creators”

I love Jack’s brilliant idea of creating simple infographics to explain complex ideas. Check out his Twitter feed to see the images. He now has over 108k Twitter followers. That is up over 15k in just a few weeks. That is the power of a good idea!
 
play.acast.com

Go to Link

6 Lessons I Learned from Nathan Latka

6 Lessons I Learned from Nathan Latka
I’m a big fan of Nathan Latka and have written about some of the great business ideas he has implemented. 

This article goes into more depth about the entrepreneur behind the successful daily podcast, print magazine and SaaS financing company. 

This is what it means to be an entrepreneur now. 
 
jakobgreenfeld.com

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