Author Archives: will

Stair-Stepping Into a Different Audience

Episode 283 | Stair-Stepping Into a Different Audience

Date: 2016-04-05

Link: Startups for the Rest of Us

 

Startups for the Rest of UsSidekick allows you to see who opens your emails.

Book: Snowball (about Warren Buffett)

Step one is launching a one-time product.

Step two is to repeat step one multiple times until you own your time.

Step three is recurring sales.

High lifetime value for your customers might not be possible in a particular niche.

It is not common for WordPress plugins to have a subscription model.

Try to avoid selling a new product to a new market. What you want to do is sell a new product to your existing audience or an existing product to a new audience.

Try not to build a brand new product in a new niche because that is when it takes years to get that snowball pushed up the hill.

If you are going to be leveling up then you need to take on more responsibility. The ideas are going to be larger and more competitive or more complex.

Don’t pick a market because you think it is interesting. Pick it because your existing competence gives you an advantage.

Be deliberate about choosing your next idea based on skills you have already developed and whether they are going to work in that new market.

The Long, Slow SaaS Ramp of Death

Episode 282 | The Long, Slow SaaS Ramp of Death

Date: 2016-03-29

Link: Startups for the Rest of Us

 

Startups for the Rest of UsIt is always going to be slower than you want or slower than you expect.

No matter how fast you are growing you want to grow faster.

Try to establish some sort of virality for your product.

You’re not going to really grow until you find product/market fit.

Target a community of users that have a large word-of-mouth online.

Picking an audience can be a large contributor to growing faster.

Info products are exceptionally easy to sell to audiences.

Having an audience can be super powerful but it can also leave you with high expectations on how many of those will actually convert.

Have realistic expectations for the start.

Take some time to reflect.

Tools You’ll Need for Your Bootstrapped Startup

Episode 281 | Tools You’ll Need for Your Bootstrapped Startup

Date: 2016-03-22

Link: Startups for the Rest of Us

 

Startups for the Rest of UsIf you’re spending more than $50 a month for any one tool then you need to take a hard look at it and ask if it is necessary for your business when pre-revenue.

The only things that are absolutely critical are web hosting and payment processing.

Do not spend more than $200 a month across all of the tools you are using.

Push off legal and accounting stuff as long as you can.

Gusto for payroll costs $40 to $50 a month.

Buy tools that do the job that you need done, not tools that you see other successful people or or business are using.

Buy what you need now not what you are going to need in the future.

The Productivity Project with Guest Chris Bailey

Episode 280 | The Productivity Project with Guest Chris Bailey

Date: 2016-03-15

Link: Startups for the Rest of Us

 

Startups for the Rest of UsWhen somebody describes themselves as a thought leader that is a pretty good indicator they are not.

Productivity is not about how much we produce. We can be on email all day long and not accomplish a single thing.

It is what you do with the hours of your day that matters.

It is so easy to look at the idea instead of the cost of something.

Not all tasks in our work are created equal. Not all hours in our day are created equal.

Attention is the rarest commodity we have but it is not the most limited commodity we have.

The less guilty we feel about our work the more productive we feel.

Work expands to fill the amount of time you have for it.

It is hard to remember what is important throughout the day.

More things don’t work than the things that do.

No thought is permanent.

Can You Invest in Property if You Don’t Have Much Money?

TMBA339: Can You Invest in Property if You Don’t Have Much Money?

Date: 2016-06-02

Link: Tropical MBA

 

Tropical MBAThe nice thing about buying a multi-unit property is you can qualify for a loan as a primary residence.

Financial freedom is the point where passive income from investments covers your cost of living with minimum input of your time.

As entrepreneurs sometimes you have to go through multiple rejections before you get to the yes.

As a landlord you are in the real estate industry and as an Airbnb host you are in the hospitality industry.

Pursue rewards relative to their risk context.

Cap rate is your next operating income relative to the purchase price of the house.

Don’t rent to a friend.

How Google’s New Search Results Will Affect You

Episode 279 | How Google’s New Search Results Will Affect You

Date: 2016-03-08

Link: Startups for the Rest of Us

 

Startups for the Rest of Us(The SEO) game is constant and ongoing.

SEO is helping Google understand the content of your website. If you do too much to help Google understand the content of your website then you get penalized for it.

Google has a load of amazing free resources such as Google Search Console.

There is so much information on SEO that it is difficult to find a trusted source.

It is pretty scary doing SEO.

What is the World’s Best Diet?

TMBA338: What is the World’s Best Diet?

Date: 2016-05-26

Link: Tropical MBA

 

Tropical MBASometimes we sacrifice our health for our business but we don’t need to.

Best diet is…real food that grows out of the ground.

There is no cure for dead.

It is never too early and never too late to start eating healthy. We need to start today.

Meat should be a condiment.

It makes sense to center our diet as much as possible around whole plant foods.

How to Build and Launch a Membership Website

Episode 278 | How to Build and Launch a Membership Website

Date: 2016-03-01

Link: Startups for the Rest of Us

 

Startups for the Rest of UsDoes the topic warrant a full membership site or is a video course or ebook a better way to go?

If it provides more value over time then is can be a membership site or something with a subscription fee.

Starting a membership site when you don’t have a community in advance is going to be really hard to do.

If you are going to have forums you need to have people in there interacting otherwise it is going to look like a ghost town.

People come for the content and stay for the community.

Think about a plan to spur conversation.

A weekly discussion topic is something to think about.

Forums don’t tend to grow and thrive by themselves.

Don’t start a membership site without a list of at least a couple thousand people.

If you have nothing to talk about there is no community.

The Power of the Pickle

TMBA337: The Power of the Pickle

Date: 2016-05-19

Link: Tropical MBA

 

Tropical MBARevenue is a vanity metric.

When you try to do everything under the sun you can’t get good at anything.

Niche down.

If you want to travel a bunch you cannot have a brick and mortar business that requires your presence all the time.

Put down on paper what you want in life.

Think about yourself only (when writing down what you want in life) because if at your core you aren’t satisfied then you can’t be there for anybody else.

Your labor is your biggest line item on any business.

Five Ways to Structure Your Startup Mastermind

Episode 277 | Five Ways to Structure Your Startup Mastermind

Date: 2016-02-23

Link: Startups for the Rest of Us

 

Startups for the Rest of UsBook: Productivity Project

You get more traffic and more leads on Medium but they are less qualified.

The roundtable approach.

It depends on what stage your business is at.

You can use time slots.

You can have a short hotseat. Everybody gets a chance to talk but one person gets a longer time on the hotseat.

You can use a moderator.

If you’re going to moderate then you’re not going to be one of the participants. You need some kind of compensation.