1/ I recently read about Adjacent User Theory and, despite it being focused on expanding existing users. thought there were some great takeaways about prospecting.

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.

A potential danger to America I didn't consider till now. The Bay Area seems to be less attractive to founders. What if this makes America as a country less attractive to immigrant founders? What if instead of going to another US city, they don't go to the US at all?

I know founders don't feel the same need to move to the US that they used to. The question is how much of this is due to the change in their opinion of the Bay Area specifically, rather than e.g. greater optimism about remote work, or decreased interest in the US overall.

1/ Come for the Content, Stay for the Community. A thread.

Here are all the businesses I’ve tried:

(Half of them failed)

👇

Training Spectrum

A website showcasing local sports talent, health and fitness articles and interviews with personal trainers.

Started at 17. Lasted 4-5 months.

Food & Drink

A local website listing restaurants in each city (before Zomato was a thing).

Started at 18. Lasted 6-7 months.

Ambitionaire

An online magazine interviewing entrepreneurs for aspiring entrepreneurs.

Started at 18. Lasted 3 months.

10 Question Poll

A website asking 10 random funny questions and you share your results with friends.

Started at 22. Lasted 3 months.

I just interviewed the man who invented Amazon Prime.

He started a business worth $40 billion today and served on Amazon's board for 15 yrs.

Here are lessons from Bing Gordon that'll save you years of mistakes:

When you have a business idea, take action now before it dies.

• Write 1 paragraph about the idea

• Write a 4 slide business plan

• Write your 1st line of code

When you start a job, ask your boss 2 questions:

1) Who is the best boss you've ever had and what does that mean for me?

2) What does top 10% performance look like?

Hold yourself accountable for high achievement.

If you're a cab driver, drive the most miles

if you're a fisherman, get on the best boat.

How to succeed

• Be a learning machine.
• Find a way to maintain high energy

My interview with @Mixergy is live. Check it out here: https://t.co/fvxio9FArN

It's great. We cover 15 years of business.

I like getting tactical on podcasts. I know Andrew likes it too. I missed some spots. So here are 5 tips I wish I shared during the interview.

🧵👇

1) During recessions, get close to the money.

I talk a bit about what business was like in 2008. Besides some personal struggles, 2008 was also a time when individuals and businesses were clamping down on spending. So what can you do if you are freelancing through that?

Get close to the money. People will be cutting spending on things that seem superfluous, but any tools, service, or consulting that ties directly to the company's bottom line will be the last to go.

This was part of what encouraged us to focus on membership sites.

I remember some clients we built websites for, even friendly clients (maybe family members ;), saying to me "The website is nice, but it didn't really bring us business."

!!!

We weren't tracking it. The membership sites we helped launched had reporting built in showing $$$.

2) When going up against established competition, don't compete with them head on. Focus your marketing efforts on features and in spaces they aren't addressing.

There were already a couple established membership plugins for WP when PMPro launched.

Want to try #NoCode but don't know where to start?

Here's a thread of ways to begin your no-code journey 🧵👇

1/?

Task: 📃 Create a simple single-page website for creating your online profile

Platform: @carrd

2/?

Task: 🏗️ Create a sophisticated website for your business

Platform: @webflow

3/?

Task: 🚀 Launch a website to publish articles or show off your portfolio

Platform: @readymag or @SubstackInc

4/?

Task: 🧭 Create a web app and/or a mobile app

Platform: @bubble and/or @thunkable

5/?

💥How I monetized my skill and made over $3300 in 12 months with almost no Twitter following and my plans to make $ 33 K in 2021 (10X) ?

A thread 👇

1. 🔥 Work hard & achieve something substantial in life. Then teach others who want to achieve the same thing.

The more grander your achievement, the grander is the reward to teach.

I made the mid-career transition to product management and teach the same to many aspiring PMs

2. It's easy to think that you know less, because your role models are ahead of you.

🧠But there is always something that you know, which others don't know.

Remind yourself of how far you have climbed in the ladder of knowledge.

Many people minimize their existing knowledge.

3. Cohort based courses (CBC) are magical. Because it enables you to price it reasonably yet scale it to a batch of 15 in a cohort.

I will write a separate thread on the power of running CBCs.

4. Teach with the intent to serve. 🙏

My participants know that I deeply care to give them massive value. I am always looking to give them 10X value of the price they paid me.

I trust they are going to be spreading the word 🗣️ about the course to their network.

Today I want to talk about the legal aspects of startups. How to set up? How to think about legal costs?

Fun!

Read on >>

1) Lawyers are expensive -- oof! A startup lawyer can cost you $300-$1k per HOUR! An associate paralegal may be slightly cheaper. But still pricey.

What do you need from a lawyer?

-company setup costs
-doc creation and review for financing rounds
-exit negotiation

2) For the purpose of this thread, we're just going to focus on setup costs, because this is where I see the most mistakes.

Once you get going, you may quickly realize you need a better lawyer - hah - and that generally helps w/ solving for financing rounds and exits

3) If you want to potentially raise money from VCs, you'll want to set up as a Delaware C Corp. If you don't ever want to raise from VCs, an LLC is fine.

Lots of ppl start out as an LLC because you can get tax benefits if you are not profitable.

4) But to me, if you know you want to raise VC money, it feels a bit penny wise / pound foolish, because you will need to spend $$ to convert your LLC to a Delaware C corp.

“Every time you write a new code, you should do so reluctantly, under duress, because you completely exhausted all your other options.” - Jeff Atwood @codinghorror

Hence the growing popularity of the no-code software.

A quick thread 👇

1/

NO-CODE IS EATING THE WORLD

The concept isn't new (remember Microsoft FrontPage?) but the capabilities that the no-code and low-code tools offer today change the way individuals and businesses approach building digital products.

WHY IT'S INTERESTING? 👇

2/

No-code tools let you build things without writing code. Websites, mobile apps, online stores – all that (and a lot more!) can be built without any prior coding experience.

3/

Even though the “no-code” label is often an oversell (many platforms are "just" low-code and still require some low programming effort), the capabilities offered are game-changing, especially at the first stages of product development.

4/

Key no-code platforms:

•@Shopify: e-commerce
•@canva: design
•@airtable: databases
•@webflow: web development
•@zapier: process automation
•@bubble: mobile app development

I’m 18, currently working on my own startup (TBA)

To all the founders out there...

What “startup advice” would you give yourself at 18?

The stuff nobody tells you

How to create a successful SaaS from scratch.

Steal the process I've used to build 5 $10k+ MRR SaaS's.

🧵 THREAD 🧵

#1 Find a problem

Problems are everywhere.

Everyone has one:

>> Agency Owners
>> Coaches
>> Freelancers

All you have to do is Investigate, ask Qs and deep dive into a niche.

Then find a painful problem that people wouldn't mind paying money to get rid of.

#2 Find an existing solution

This one is the easiest part of the process.

Here's what to do instead:

Go to Google and search for "[Problem] + software".

Compare the available solutions.

Pick the best one.

#3 Reverse engineer how it works

Break down the solution in it's core components.

Most SaaS are structured this way:

>> Database
>> Back-end
>> API
>> Front-end

This is easier if you already know programming.

But if you don't, you can pay someone to break it down for you.

#4 Make it better

Think of ways to make it better.

See what the current solution is lacking and fix it:

>> Is it too slow? Make it faster
>> Is it too ambiguous? Make it simpler
>> Does it lack features? Add them

The thing is to add VALUE to your solution.