1/ Throughout my startup career, I’ve seen many founders have an aversion to sales. This is a mistake that can kill your startup.
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2/ Tech has gone from an industry no one cared about, to every random person I knew in college rushing to be part of it, to the evil industry destroying the fabric of society
3/ Starting a startup is easier than ever. Lots of resources: YC, more financing at the seed stage, much more information online. Starting a company is no longer a risky path.
4/ New businesses in every industry are now being built with methodologies that used to be just for tech startups (fast iteration, access to venture capital). Applies to D2C companies like Allbirds, full stack companies like Atrium, etc.
5/ Personally, I’ve felt recently that the overall risk appetite of the people working in tech has changed. People used to want to join frontier companies building something fun / cool; now everyone seems to be optimizing for salary / career stability.
Start with the mission
It is very hard to write the mission after the fact. You should start with a clear reason to exist and filter early hires for believers.
Start remote. SFBA is over for startups: the cost of housing and rent gives you much worse operating leverage. Many talented people choose jobs they want to be flexible re: location. Remote is better at this time in the market.
I wrote that before COVID, now it's extra true.
There is no skipping of the R&D phase of a company - if you try to skip this you miss the part where you are forced to develop something differentiated. Very hard to solve this with money.
Don’t build a services company. It’s more work to manage everyone and the reward isn’t there at the end of the day.
[email protected] from @latticeHQ says “Don’t confuse investor interest with product-market fit. You’re about to be on the receiving end of a lot of hype and FOMO - use it to your advantage by taking the money and then keep your burn and ego low.”
[email protected] from @flexport says “I like to remind myself that even Bruce Springsteen still gets nervous before his concerts. Remember that, and then try to focus on what investors want: First, not to be bored. Second, to get rich(er).”
[email protected] from @frontapp says “Leverage your data to tell a story about what the business has achieved and where it is going. Metrics are necessary, but they are too often shared without a narrative arc.”
[email protected] from @weebly says “Make it relevant. Investors can live in their own world, so try to find an angle that they can relate to.”
Finding product market fit is the critical thing to do in a startup.
Everything else: demo day, what investors you get, how much you raise, what press covers you -- it is all window dressing.
Many founders don’t want to talk to their customers because it makes them vulnerable, because it's hard work, because it's scary. Creating a tight feedback loop with customers is the one thing that will help you discover PMF.
If a customer isn't one of your cofounders, try to create a customer panel that allows as tight of a loop as possible. Call them daily. Put them in your Slack.
My Twitch cofounder Emmett Shear has a great analogy on PMF here: it's like rolling a boulder downhill.
1/ What is \u201cproduct/market fit\u201d? I\u2019m not sure I can give you a definition. But maybe I can share what the subjective difference is in how it feels when you have it and when you don\u2019t. Founding a startup is deciding to take on the burden of Sisyphus: pushing a boulder up a hill.— Emmett Shear (@eshear) July 27, 2019
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"I need to get better at marketing."
But, it's more likely that you have a product problem:
"Do customers really want this? Do they care enough about this to switch to a new solution?"
☝️ this is why most of my book, @marketingdevs, is about:
1. Choosing the right market
2. Building something they want
"If your product is remarkable, getting noticed is a lot easier." – @peldi
I was reminded of this concept again this morning while reading @pjrvs' book (Company of One):
"Sales increase when you honestly evaluate what someone needs and then teach them the value of what you're selling."
To succeed, your product has to offer an outcome that is highly desirable to a large group of customers.
The number of sales your product receives is a multiple of these two variables:
1. How big is the target market?
2. How desirable is the outcome you're offering them?
Ride the wave:
People often ask what we do for marketing, and I don't really have a good answer. You don't have to push your product as hard if you're building for a vocal community of passionate people within a growing market. They'll do most of your marketing for you.
Scratch your own itch:
If you don't experience the problem you've set out to solve, you’ll have a slight disconnect between what your problem actually is, who’s experiencing it, and how to reach them. I’ll probably never do another user test in my life.
The web hosting space may be crowded, but the web hosting space for Notion is not. I used to think a niche would limit the total size of my business, but If we capture 1% of all Notion users, we'd be making at least $720k/month—far beyond what's enough for me.
Use side projects as marketing:
Some of our record signup days came from one of my side projects. The only mention of it was a link to it in the footer of the page. Your side projects don't have to be clearly correlated in order to still correlate.
The stuff you can do in a year is seriously astounding 👇
👉 @TransistorFM reaching $22k MRR in one year: https://t.co/BuKmXEeEtH
I was one of their first customers and the progress @mijustin and @jonbuda have made working mostly part-time has been crazy.
Now both are full-time. Follow them on @buildyoursaas
👉 @talk2oneup reaching $10k MRR in one year: https://t.co/SOoGkKA19r
@daviswbaer joined as a co-founder and through many different marketing tactics, pricing changes, and product updates, they've managed to carve out a niche market in a really competitive industry.
👉 @hostifi_net $9k MRR in one year: https://t.co/TknroGZWoK
After getting fired from his full-time job, @_rchase_ embarked on a year focused on building products to replace his salary in a year.
The dude seriously SHIPS and even took investment from @earnestcapital
1/ "Hardcore Year" (https://t.co/cjx7HfGeEK)— Reilly Chase\u2601\ufe0f\u2601\ufe0f\u2601\ufe0f (@_rchase_) July 31, 2019
MRR in July:
\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593 $9,109 of $8,333 goal (109%)
Totals@hostifi_net $8,463@ghostifi_net $361@locklinnetworks $125@captifi_net $147@patreon $13
I reached my goal for the year! \U0001f942\U0001f37e
Details in thread \U0001f447 pic.twitter.com/cUEeiADDAk
👉 @ClosetTools $11k MRR WHILE WORKING FULL-TIME AND WITH A FAMILY: https://t.co/pKQ7pFvpZY
With a strong product, continuous improvement, and SEO, @unindie has really been inspirational.
There are no excuses.
This year is flying by. How am I doing a July report already? Here it is: Closet Tools' July open stats:— Jordan O'Connor (@unindie) August 1, 2019
MRR: $11106.28 (+11.43%)
Organic Search: 3958 (+20.45%)
New Trials: 154 (-8.33%)
Less trials, more revenue (churn is going down!). The focus for July was feature stability. pic.twitter.com/4YRpkPvKxo
2/ General concept is that just beyond your existing users are groups of potential users who would better adopt your product if it were positioned differently. As you expand your positioning, you convert under-engaged users.
In outbound sales it's the same.
3/ Too many startups try too hard to guess their exact prospect profile. This is necessary to find their first successful customer profile, but beyond that, identifying new types of prospects should be more formulaic.
4/ Here's how I've done it to identify 12 different successful prospect profiles in a few months:
- Use the 80/20 rule: 20% of the leads you reach out to should fall outside of your current core prospect profile.
5/ Priority should be on profiles with only 1-2 differences from the current core. Perhaps a slightly different pain point, but not dramatically different.
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और देवर्षि नारद वहीं बैठकर तपस्या में लीन हो गए।इन्द्र नारद की तपस्या से घबरा गए।उन्हें हमेशा की तरह अपना सिंहासन व स्वर्ग खोने का डर सताने लगा।इसलिए इन्द्र ने नारद की तपस्या भंग करने के लिए कामदेव को उनके पास भेज दिया।वहां पहुंच कामदेव ने अपनी माया से वसंतऋतु को उत्पन्न कर दिया।
पेड़ और पौधों पर रंग बिरंगे फूल खिल गए और कोयलें कूकने लगी,पक्षी चहकने लगे।शीतल,मंद,सुगंधित और सुहावनी हवा चलने लगी।रंभा आदि अप्सराएं नाचने लगीं ।किन्तु कामदेव की किसी भी माया का नारद पे कोई प्रभाव नहीं पड़ा।तब कामदेव को डर सताने लगा कि कहीं नारद क्रोध में आकर मुझे श्राप न देदें।
जैसे ही नारद ने अपनी आंखें खोली, उसी क्षण कामदेव ने उनसे क्षमा मांगी।नारद मुनि को तनिक भी क्रोध नहीं आया और उन्होने शीघ्र ही कामदेव को क्षमा कर दिया।कामदेव प्रसन्न होकर वहां से चले गए।कामदेव के चले जाने पर देवर्षि के मन में अहंकार आ गया कि मैने कामदेव को हरा दिया।
नारद फिर कैलाश जा पहुंचे और शिवजी को अपनी विजयगाथा सुनाई।शिव समझ गए कि नारद अहंकारी हो गए हैं और अगर ये बात विष्णु जी जान गए तो नारद के लिए अच्छा नहीं होगा।ये सोचकर शिवजी ने नारद को भगवन विष्णु को ये बात बताने के लीए मना किया। परंतु नारद जी को ये बात उचित नहीं लगी।
Why Gain/loss ratio is important that the batting average
• More than the Win Loss ratio check the total Gain /loss ratio
• If your avg loss is 1% and avg gain is +5% then even if you are losing in 7 positions and winning in 3 out of 10 still you will be net profitable
Treat Trading as a business:
• Stick to a single strategy. Eg: A restaurateur usually wouldn’t be changing his recipe on a daily basis
• Mitesh Sir only works on BO or BD strategy, as he is a versatile trader
• Any trader should atleast experience 3 scenarios i.e. bull, bear & consolidation
• Target 4% per month i.e. 48% p.a.
• Option buying requires skill, everyday there wont be huge momentum, so buying options won’t yield good results, but high chances of falling into a bad habit
• In F&O segment there are ~150 stocks
• Not everyday all stocks will move
• Only 5-7 stocks move upside or downside
• Focus only these momentum stocks
• Check which one is moving
• Range BO/BD never disappoints. BO/BD from a rectangle (consolidation)
Thumba poo is a tiny white flower which grows in all areas. These flowers are used for treatment for sinus. Small children who have polyps in Nose are told to crush tumbha leaves and apply in nose part.
There is an interesting story of Thumba and
Mahadeva. Thumba flowers were not taken for Shiva Pooja. Saddened to this Thumba prayed sincerely and Mahadeva appeared before her.
She was surprised that Shiva had appeared before her. Instead of saying that she wants to under his feet always, she said
She said that her feet should be on his head. Shiva accepted her prayers. It is because of this Thumba flower is placed in the head of Shiva Linga.
Om Namah Sivaye
And sometimes one’s childhood passion follows them into adulthood, sometimes not, sometimes as an adult one finds a passion they never had as a child and embraces it. For me, that must include getting involved with a puppet show at the age of thirty. /2
So who’s to say whose passion’s legitimate and whose is bogus? Nobody. Someone might indict your passion but they have no ground to stand on and should be dismissed out of hand. /3
Maybe they’re envious that you have a passion, maybe they think that their passion is cooler than yours, or maybe they’re just insecure, who knows. Doesn’t matter. /4
What matters is that if something gives you joy, and in the process doesn’t hurt others, then by all means follow it. It’s how we explore our secret hopes, our shadow sides, our inner character. /5
The PageRank algorithm gives each page a rating of its
importance, which is a recursively defined measure of importance, based on if important pages link to it.
It's recursive because the importance of a page refers back to the importance of other pages that link to it
Here's how it works in practice:
1⃣ We start with some pages and crawl them for links
2⃣ Each page has 1/N points (where N as the total number of pages)
3⃣ Add points to each page for the amount of links to it, divided by the number
of links emanating from the sources of these links