BC STARTUP
Saved by @CodyyyGardner

A Thread - What to read in 2021?

Wisdom via @EricJorgenson via @naval via @illacertus... from @Navalmanack a book I’ll be rereading in 2021.

Here’s why.

“I don’t want to read everything. I just want to read the 100 great books over and over again.” - @illacertus

 “I think there’s a lot to that idea. It’s really more about identifying the great books for you because different books speak to different people. Then, you can really absorb those.” - @naval
It was a few years back I started thinking about the idea of rereading books vs trying to “keep up” with the constant consumption of new material rolling off the book publisher’s assembly lines.
I believe the consept first landed on my radar from that very @farnamstreet podcast where @naval shared the quote referenced above.

It immediately made sense to me.
It’s crazy to think about how much the world has evolved in just the last decade.

Technology is creating shorter attention spans with the constant bombardment of bite-sized “click bait” headlines and iPhone notifications.
For those who haven’t watched the Netflix doc The Social Dilemma, look no further than the algorithms designed to constantly keep our eyes glued to our phones and in turn the ad dollars being spent there.

Which leads me to a thesis I believe to be more and more true.
I believe the ability to focus...

to absorb...

to go deep...

is becoming a true super power.
Which brings me back to the idea of compiling a short list of books that you want to truly absorb and reading them over and over until you understand them to the level you’ve acquired all they have to offer.

With that in mind...
Today marks my third time reading through @RyanHoliday & @SteveHanselman’s @dailystoic.

Pictured is my copy below, which I grabbed back in 2016 when it came out.

As you can see, it’s got some miles on it as it’s literally traveled with me mostly wherever I’ve gone since.
All cliches aside, this book has made me a better version of myself.

More patient.

More accepting.

Less anxious.

A better listener.

I can honestly say this year’s reading was by far the most impactful.

Yes, maybe some of that was due to the year that was 2020.

However...
Looking back, I simply wasn’t ready for many of the passages my first few times through.

“When the student is ready the teacher will appear.” - Tao Te Ching
Also, with multiple readings, I’ve benefited from the “compound effect” of absorbing, putting into action, and building upon that which I’ve read before.

So...
Here’s to distilling your list of books/ideas/goals down to what is essential this year.

Go deep.

Absorb.

Make those “words become works” in 2021.
If you could choose only 1 book to reread this year, which one would it be?

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"We can print as much money as we want!"

"Don’t worry about it, there will never be any inflation!"

Time to take a closer look. 👇


2/ First, a few definitions:

Inflation measures how much more expensive a basket of goods and services has become over a certain period, usually a year.

Looking at the US and Europe the numbers don’t look too bad.

But wait there is more ;)


3/ As Winston Churchill once said:

The only statistics you can trust are those you falsified yourself.”

Over the past decades the government changed the way how to measure inflation several times to give you the expression there is nothing to worry about.

4/ If we calculate inflation the same way as in the 80ies or 90ies, it is at least double the amount!


5/ But there is more....

The Chapwood Index reflects the true cost-of-living increase in America. It reports the unadjusted actual cost and price fluctuation of the top 500 items on which Americans spend their after-tax dollars in the 50 largest cities in the nation.
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Rob Chauncey
Rob Chauncey
@BertoChauncey
I worked at a very hip startup that was once on the move but then had crested and was on the slight decline.
1/

I was running a team of people who did video conferencing. They were really good at it, and I didn't know anything about the technology. One of the tricks I sometimes use in management is to shut up when I don't know anything.
2/

it was IT in a different gear than I'd seen before
e.g. your wiring had to be perfect, there would be decisions by people that required insane costs &
white gloves
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a day or two after they announce earnings, they want to do an All Hands where the CEO, CFO and various bigwigs claim credit for the smart work of their teams.
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This team runs that conference setup. It's a big deal and a lot of work, and this was the first one I'd run by myself. None of the old leaders
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@lennysan
The clearest sign of finding product-market fit is feeling "pull" from the market.

But what does "pull" look like?

👇 Read on 👇

1/ Sign 1: A sudden inflection in organic growth

Netflix: "Where before we were struggling to get traffic, all of sudden we couldn’t keep up." - @mbrandolph

Tinder: "Downloads started to skyrocket" – @badeen

Uber: "Word of mouth was uncontrollable" – @ryangraves

2/ Sign 2: Customers ask to pay for the product before you ask

Carta: "I've been trying to get to your sales people for weeks!!! Why won't you take my money???" – @henrysward

Github: "To our surprise, users started writing to us asking ‘Can we pay for this??’" – @mojombo

3/ Sign 3: Users flip from excited to upset

Datadog: "When we hit early product-market fit, our users switched from being excited at all the things our product could be to them to being upset about all the things it didn't do yet." – @oliveur

3b/ Segment: "The thing that flipped was, people would previously tell us they wanted a feature, but not use it. Whereas now, people were using it and they would want a second feature." – @reinpk
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Justin Welsh
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@thejustinwelsh
Today, my little one-person business crossed $3M in revenue.

It took 1,187 days, I ran zero ads & operate at a 94% margin.

Here are the 20 steps of my wild & strange journey:

Hope it's helpful to someone.

[🧵 thread]

1/ Created lots of noise

When I was just getting started, I looked at attention as my friend.

I wrote content every day before I even had a business, just to find my voice.

I started on LinkedIn.

I shared my thoughts & observations about building a SaaS unicorn as the CRO.

2/ Honed in on signals

Inside all of that noise was some signals.

Sometimes I bombed, and sometimes I struck a chord.

The more I looked at what resonated, the more I doubled down.

This allowed me to understand what people cared about.

So, I kept writing & talking about it.

3/ Built a service business

My experience building SaaS was resonating. So I began creating more and more content about that.

Founders sent me DMs asking questions.

I responded to every single one.

Once I had prospects in my funnel, I started consulting.

4/ Found my ideal customers

Inside your customer base is more signals.

What are the commonalities between the customers you love & those who love you?

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Joe Speiser \u26a1\ufe0f
Joe Speiser ⚡️...
@jspeiser
14 mental models that helped me build 10 startups and sell (a bunch of them) for millions.

1) Serviceable Obtainable Market (SOM)

Everyone focuses on the Total Addressable Market (TAM), which gives an unrealistic expectation of your market size.

Instead SOM gives you a more practical estimate.


2) Viral Coefficient

Is the number of new users an average customer generates and a strong indicator of how highly your users like your product.

The higher your viral coefficient, the cheaper your acquisition costs.


3) Beta Testing

The process of exposing your users to different versions of the product/ messaging to determine the most effective one.

All top companies do this on a regular basis.


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This is fixed loss🔴 defined stategy ,so you are aware of your losses . You know your risk ⚠️and breakeven points to exit the positions.
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5.Exit it one day before expiry or when you see more than 2% within the week.
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A list below.🔻


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