Startups Archives - IdeaEconomy.net

Building a 400K Subscriber Newsletter – The Gist

“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

“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

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

I binged @jackbutcher's Build Once, Sell Twice in one sitting.

I expected an online course about building and selling.

But it's more than that.

Build Once, Sell Twice is a mindset. A playbook.

An operating system for the 21st-century entrepreneur.

Here's the TLDR:

[Thread] pic.twitter.com/pGIolhSnay
— Dickie Bush 🚢 (@dickiebush) December 13, 2020

“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

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

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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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Joel Runyon – Balancing Multiple Businesses While Doing The Impossible

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.

evergreenprofits.com

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The Definitive Guide on How to Bootstrap Your Startup

“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”