I’m the CEO of a $100 million business. But I’ve tried (and failed) to build 10+ startups before. Here are 14 pieces of non-obvious advice after two decades of entrepreneurship:
1) If everyone’s doing it, you’re late When we started AppSumo, I paid Tim Ferriss $5,000 a month to sponsor his website. We did that for 2+ years and made millions from it. Fast forward to today - Tim charges a MINIMUM of $50,000 (!!) per podcast.
In marketing, there’s a concept called The Law of Diminishing Returns. When everyone is using the same marketing strategy, it’s hard to get a great return on your marketing budget. Instead, seek ways to do things differently. How?
2) Pay attention to what captures your attention Ignore follower count. Ignore views. Ignore likes. Who’s putting out stuff you enjoy? Prefluencers most likely won’t be found on your For You page. Once you’ve found someone who puts out stuff you like, TELL THEM!