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Late night lessons thread.
I guess I've behaved like an entrepreneur for over 18 months and still going strong. Including all 12 months of 2020.
Here's some things I've learned to this point.
I guess I've behaved like an entrepreneur for over 18 months and still going strong. Including all 12 months of 2020.
Here's some things I've learned to this point.
Negotiate. Hard.
I would've lost somewhere between $60k - $115k when COVID hit if I didn't get the payment terms I wanted.
That enabled me to spend quarantine investing in the long-term business instead of grinding for cash.
I would've lost somewhere between $60k - $115k when COVID hit if I didn't get the payment terms I wanted.
That enabled me to spend quarantine investing in the long-term business instead of grinding for cash.
Allocate your work correctly between reality and your vision.
It's easy to spend too much time, too excited about the future.
Paraphrasing @stephenpratley here:
- 60% on things that make $ now
- 30% on things that will make $ in the future
- 10% on the pipe dream longshots
It's easy to spend too much time, too excited about the future.
Paraphrasing @stephenpratley here:
- 60% on things that make $ now
- 30% on things that will make $ in the future
- 10% on the pipe dream longshots
Pay for high quality help, or just do it yourself.
1 of 5 low cost contractors actually worked out.
3 of 3 high quality ones helped me immensely.
@craigburgess and @cfowlerdesign included in the latter.
1 of 5 low cost contractors actually worked out.
3 of 3 high quality ones helped me immensely.
@craigburgess and @cfowlerdesign included in the latter.
If you have the flexibility, dabble in a bunch of stuff to figure them out enough to prioritize.
Especially in marketing, the options for what to do are endless. All the socials, blog, podcast, youtube, etc...
Do some research, but I learned the most by doing a bit on each one.
Especially in marketing, the options for what to do are endless. All the socials, blog, podcast, youtube, etc...
Do some research, but I learned the most by doing a bit on each one.
Routine. Routine. Routine.
Build your habits, especially for the things you don't like doing.
Accounting, taxes, invoices, cold-calls...whatever it is.
Make it a habit or you'll ignore it until it becomes a big pain in the ass.
Build your habits, especially for the things you don't like doing.
Accounting, taxes, invoices, cold-calls...whatever it is.
Make it a habit or you'll ignore it until it becomes a big pain in the ass.
Search for people that will tell you when something is shit.
Many friends and family will tell you your work is 'really good' no matter what.
Get feedback from people who will redline everything.
Unless you just need a confidence boost, then go to your mom.
Many friends and family will tell you your work is 'really good' no matter what.
Get feedback from people who will redline everything.
Unless you just need a confidence boost, then go to your mom.
It. Is. All. On. You.
Whether it's a high like a 6-figure contract or a low like a flopped product launch, there's no one to look at but yourself.
This is one that hits very different when you experience it versus just "knowing" it.
Whether it's a high like a 6-figure contract or a low like a flopped product launch, there's no one to look at but yourself.
This is one that hits very different when you experience it versus just "knowing" it.
Meet your lawyer in person.
It's good to build trust, plus it raises the chance that they won't bill you for responding to a quick email.
And getting those "hey should I worry about this?" questions answered quickly is extremely valuable.
It's good to build trust, plus it raises the chance that they won't bill you for responding to a quick email.
And getting those "hey should I worry about this?" questions answered quickly is extremely valuable.
Know what you're bad at. Focus on what you're great at.
I knew this before, but it's doubly important now.
That's why I've been partnering with people in sales & marketing.
I knew this before, but it's doubly important now.
That's why I've been partnering with people in sales & marketing.
Bask in the perks.
Go play golf on a Monday. Take naps. Spend some extra time with your kids...whatever.
Creating something from nothing is HARD. Reward yourself for being in the arena. Often.
Go play golf on a Monday. Take naps. Spend some extra time with your kids...whatever.
Creating something from nothing is HARD. Reward yourself for being in the arena. Often.
Get references, referrals, and testimonials as early as possible.
Not only is it harder to get them 6 months later, people won't remember the details.
Not only is it harder to get them 6 months later, people won't remember the details.
Talk to lots of people.
Partners and opportunities can come from anywhere, not to mention inspiring friends like @thatpolymathguy and @RobbieCrab.
Partners and opportunities can come from anywhere, not to mention inspiring friends like @thatpolymathguy and @RobbieCrab.
Meet other entrepreneurs.
Especially if you're a solo founder, most of the people you know just don't get it.
It can get lonely.
Extremely grateful to have learned from people like @zanele_matome and @craigburgess (even if he doesn't use the oxford comma...)
Especially if you're a solo founder, most of the people you know just don't get it.
It can get lonely.
Extremely grateful to have learned from people like @zanele_matome and @craigburgess (even if he doesn't use the oxford comma...)
I don't know shit, and that's okay.
Impostor syndrome is real. Feeling it as I write a thread about lessons...
The gap between what I know and what I think I need to know is massive, and it will probably always be.
And that's okay.
Impostor syndrome is real. Feeling it as I write a thread about lessons...
The gap between what I know and what I think I need to know is massive, and it will probably always be.
And that's okay.
Get inspiration & ideas from others but don't copy.
Like many, I watched and learned from ppl like @david_perell, @jackbutcher, @fortelabs.
When I slipped into copying them, it felt very wrong.
But when I integrated learnings from them with my instincts, good things happened.
Like many, I watched and learned from ppl like @david_perell, @jackbutcher, @fortelabs.
When I slipped into copying them, it felt very wrong.
But when I integrated learnings from them with my instincts, good things happened.
Define success deeply.
If you define success narrowly and shallowly (Product X will make $750k this year), you have a high risk of failure.
If you define it as "I'm going to keep my savings account at or above current levels without a boss"
you can pivot as you need to.
If you define success narrowly and shallowly (Product X will make $750k this year), you have a high risk of failure.
If you define it as "I'm going to keep my savings account at or above current levels without a boss"
you can pivot as you need to.
More on success...
Before I quit my job, I wrote that I wanted my next step to be..."totally flexible, completely mine, and/or a passion"
I'm currently hitting all three, but knowing that coming back to 2/3 can still make a pretty good life.
Before I quit my job, I wrote that I wanted my next step to be..."totally flexible, completely mine, and/or a passion"
I'm currently hitting all three, but knowing that coming back to 2/3 can still make a pretty good life.
Be urgent with action, patient with results.
Sales, marketing, brand-building take time. Especially in the early stages, you get very little positive feedback.
A post circulated through a clients exec team 3 mos after I wrote it.
It got like 2 likes, but it helped me make $$$.
Sales, marketing, brand-building take time. Especially in the early stages, you get very little positive feedback.
A post circulated through a clients exec team 3 mos after I wrote it.
It got like 2 likes, but it helped me make $$$.
Help whenever you can, regardless if there's anything in it for you.
You won't do shit without the help of others. Don't be greedy.
You won't do shit without the help of others. Don't be greedy.
Lighten the fuck up.
"They can't kill you and they can't eat you."
This Len Fassler quote is a good reminder.
Our work is important in our small world, but it's not life or death.
Enjoy the ride.
"They can't kill you and they can't eat you."
This Len Fassler quote is a good reminder.
Our work is important in our small world, but it's not life or death.
Enjoy the ride.
Be kind to yourself.
You're going to make mistakes. Sooooo many mistakes.
Would you expect a friend that is doing a bunch of very difficult things that they've never done before to do them perfectly?
Give yourself some slack. Laugh them off. Move on.
You're going to make mistakes. Sooooo many mistakes.
Would you expect a friend that is doing a bunch of very difficult things that they've never done before to do them perfectly?
Give yourself some slack. Laugh them off. Move on.
