Success, Simple, System, Micro 💪
| Clemens Stromeyer | Oct 6, 2020 |
👋 Welcome!
We kick off with a great thread by The Hustle on Paul Graham, co-founder of Y-Combinator. YC has launched over 2,000 companies since 2005 and Paul believes that there are three things a startup needs to be successful. Firstly there are people. “What matters is not ideas, but people who have them. Good people can fix bad ideas, but good ideas can’t save bad people.” Secondly, you need to understand what customers want and “the only way to make something customers want is to get a prototype in front of them and refine it based on their reactions.” Finally, don’t spend money to fast, but “get big slow.” If you want “to make something users love, you have to understand them. And the bigger you are, the harder that is.” He concludes that “there is no magically difficult step that requires brilliance to solve.” Read the full thread.
🚀 Maker News
Simple
Pete from No CS Degree has just published a thread summarising key learnings from his interview with Scott Keyes, founder of Scott’s Cheap Flights. The company makes millions from sending cheap flight deals to email subscribers. Users can subscribe to either the free or the paid premium tier. As Pete rightly states, “it's a brilliantly simple business model.” Read the full thread.
System
Ayomide Ofulue recently spoke with Packy McCormick, founder of the highly sucessful Not Boring Newsletter. They discuss Packy’s system of writing, the power of conistency and compounding growth, building a personal monopoly, marketing and the future of newsletters. Read the full thread to learn more.
Micro
As usualy, Dru Riley provides another stellar Trends Report, this time on micor-marketplaces such as RemoteOK by Maker @levelsio or MicroAcquire by Andrew Gazdecki. As always, he lists his predicitons and the opportunities for this trend as well as links for further reading. Read the free report or buy the Pro report on Gumroad for a more in-depth analysis.
BrainPint
If you’re a maker or creator and haven’t read BrainPint by my good friend Janel, I highly recommend you take a look. BrainPint is a curated weekly newsletter for the curious with interesting reads, tools & learning resources to help you grow. Learn more.
💭 Afterthought
To finish the day, some useful advice from bootstrapper Arvid Kahl. You need to solve “critical problems for an audience that will pay for a solution to their issues.” Take care and see you tomorrow!
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