For the next few weeks, you won't see new episodes because we're taking a short break. We'll be back October 1st. In the meantime, listen back to our catalog of 100 past episodes. 🎙️ Podcast hosting provided by Transistor . Want to start your own podcast? Get 15% off your first year by going to transistor.fm/run...
In this episode Chris and Eathan get personal about what's going on in their family lives, their business lives, and their podcast lives. 🎙️ Podcast hosting provided by Transistor . Want to start your own podcast? Get 15% off your first year by going to transistor.fm/run
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Currently there is more aluminum stored in landfills than in the mineral where aluminum is sourced in nature. Not all landfills are created equal. Landfills near industrial areas contain more metals like steel, aluminum, and iron. Jevons Paradox could be leveraged: The paradox occurs when technological progress or government policy increases the efficiency with which a resource is used, but the rate of consumption of that r...
If you like the show, please leave a review on Apple Podcasts ! Action Steps: Investigate current revenue split for concert venues Search for the managers/decision-makers of concerts at large venues Contact them via a cold call, email, or LinkedIn message Offer to run a trial event which you can help them presell a live stream of their upcoming concert If enough fans buy in, then produce the first event (keep a production budget of under $10K) Ask the venue to keep your equipment installed and s...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Many investors who buy a business trip up over simple operational details (e.g. forgetting to renew a domain name). Michael has seen this happen time and again. Action Steps: Generate your opportunity to break into the space: Start a podcast Host an event Connect with recruiters who can source talented business managers Buy an existing business with the audience you want to serve If you’ve connected with a recruiter you can...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: The next wave in creative domains is often defined by those who master the tech that disrupt what’s already being done Action Steps: Start by offering AI services that assist writers in tweaking their content (e.g. “overcome writer’s block!”) Then offer a contract to some of the best writers for a publishing contract Optimize not only the writing but also the marketing using AI resources Eventually transition to offering so...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: If you are entering an industry with long sales cycles, hiring a salesperson with experience and relationships in the industry can move you forward a lot quicker. You can leverage already approved cloud service agreements to short circuit the enterprise sales process Action Steps: You have a few avenues to pursue and each has its own first steps; Start creating your own pre-recorded training content and posting to YouTube B...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: The total addressable market for this idea is over 16 million individuals in the U.S. alone. Action Steps: Partner with member of the community Research applicable grants Links: https://www.packupgo.com/ https://www.cdc.gov/ncbddd/disabilityandhealth/infographic-disability-impacts-all.html https://skift.com/2017/11/16/airbnb-buys-accessible-travel-business-accomable-in-its-latest-acquihire/ https://www.freedomshowers.com/bl...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Parenting is a secure market! Over 3.5 million births in the US and 140 million worldwide will continue each year. Action Steps: This is a great business idea for an aspiring entrepreneur without an idea but that’s nervous about supporting a growing family. Start with a cohort of expectant parents and partner with a handful of high-profile child development, mindfulness and parenting specialists. Aim for a subscription serv...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Dave's Cardinal Rule: Always Be Adapting (ABA) Action Steps: 1. Look at user feedback from poorly reviewed competitors in the app store 2. Spend only a few hundred to a few thousand dollars developing a Chrome extension 3. Collect user feedback 4. Expand to other channels like LinkedIn, Instagram, Pinterest, and Twitter Links: Kindlepreneur: Book Marketing for Self-Publishing Authors LinkedIn Loses Appeal Against Data Scrap...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: When you build a business realize that your community of clients may be more valuable than the money they give you. You can always build additional products and services that they need. But without an audience, you have no business. It’s okay to provide different amounts of compensation to co-founders based on their needs at a given time, but it’s also useful to start with an even share of the company. Communications add-on...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: You can often dominate a local business niche by implementing current marketing and technology (e.g. residential cleaning) People often get excited about new tech (drones, 3D printing, etc…) but their enthusiasm wavers before the breakthrough tech makes a sizable impact on the real world. There’s plenty of opportunity implementing tech from five years ago. Action Steps: Contact Lucid Drones and get pricing for leasing one o...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Plant a lot of seeds in the early stages of your business and see what grows. You may be surprised by the results. Action Steps: Sell the vision to large companies (think IBM, Google, Amazon) in order to get a sponsorship Ask school teachers in your area to send you students that that are selling things to their classmates Recruit entrepreneurs to mentor students, both for pay and as volunteers to test which works best. Set...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Startups like Uber and GreenPal succeeded by giving the common person a top-tier experience Action Steps: Get a job as a concierge in a luxury hotel and note the ingredients essential to a smooth, positive and remarkable check in experience Discover ways to automate the most remarkable check in experiences. You could implement an app that senses location, includes pre recorded audio and video content, and tightly coordinate...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Aside from the hype, there are many smart people excited about the practical potential of blockchain and NFTs Steveblank.com offers an incredible resource for entrepreneurs There are multi-billion dollar opportunities for companies that help crypto “cross the chasm,” making it more accessible to mainstream audiences Action Steps: Get your own crypto security and succession plan in order Stay up to date on the latest develop...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Successful businesses are incredibly focused. This often manifests as simplicity. When you’ve got high volume you can negotiate credit card fees down to 1% Action Steps: Contact political candidates and pitch them on the benefits of a more transparent fundraising and spending platform Be simple with your strategy. Create a simple platform to collect donations and a simple ledger of categories politicians must report on. Tak...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: There’s no need to partner with a developer if you haven’t already built a relationship. Agencies encounter great app ideas all the time but don’t have the bandwidth to pursue them. Hire the most expensive resource you can afford. Shopify is rapidly expanding their API access; now is a great time to build an app there. Action Steps: Search Reddit, Quora, Facebook groups, etc… for pain points from Shopify store owners Speak ...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: If an idea is doomed to fail, it’s best to find that out as soon as possible. You don’t want to get stuck in the uncertain middle ground Action Steps: Research what happened to defunct trip planning apps (WorldMate, Google Trips, Kayak Trip Huddle) Talk with unsatisfied users of TripIt Create programmatic landing pages for “Napa trip itinerary” etc... Links: Topic: The Best SEO Content Optimization Tool Air Travel Forecast:...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: The competitor software you create for early adopters may appeal by solving a specific complaint they have about the dominant solution. Later other’s will join just to join the crowd. Action Steps: Investigate why people log in to LinkedIn; prioritize those functions in the new platform Conversely, research what are the biggest complaints people have about LinkedIn Research economics of Steemit Choose a niche hungry for con...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: You can license an expensive domain name, if you need it for SEO or marketing but don’t have the capital in your business yet. If a client takes advantage of you or your idea gets stolen consider the odds of it happening again before wasting time on reparation or retaliation. Action Steps: Brainstorm incentive structures with a behavioral economist Wireframe the app and shop it to JetBlue, Delta, etc… Research economics aro...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Being new to an industry can be an advantage. It allows you to follow a template without getting distracted. Action Steps: Target mid- to top-tier writers and offer to create a high-end podcast for them Court former clients of Book in a Box as your clients and create a success story from one of them. Contact business organizations like YPO and present lectures on “How to Start a Podcast” and/or become their preferred referr...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: The USDA offers grants and special loans for first-time farmers You can often succeed in an old industry (e.g. restaurants, hotels) by simply following modern best practices Don’t underestimate the value of employing amazing people in the hospitality industry Action Steps: Research best practices for starting a hotel Search for employees in the hospitality industry See if you can get a beginner farmer grant or loan Locate e...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: “Never, ever, think about something else when you should be thinking about the power of incentives.” -Charlie Munger Action Steps: Determine what niche you are going to sell in first Optimal co-founders might be content and SEO experts Build an in-house SEO team Fundraise Get people on the site through advertising the site itself and the products Develop the audience, then pitch vendors to partner with you Expand beyond you...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Content creators aren’t satisfied with social media platforms owning their distribution channels Action Steps: Partner with a Twitter influencer looking to monetize their brand through email marketing (search for users recommending Mailbrew). Presell the product to validate it. Integrate between Twitter and Mailchimp. Look to a service like Mailbrew for inspiration on how to deliver content via email. Augment your product w...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Almost half (40-60%) of the overhead is creating and selling carbon offsets is legal compliance, accounting, auditing “The world’s first trillionaire will be made in climate change.” - Chamath Palihapitiya Climate tech investing is growing 5X faster than overall VC from 2013-2019 ($60 billion of early-stage capital) Action Steps: Investigate how Nori works and learn from their mistakes Research the current costs and details...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: You need some protectable “secret sauce” if selling components in a big industry (like flying cars). Otherwise, manufacturers will continually drive down your pricing by forcing you to compete with copycats for their business Creating networking events can launch you from novice to industry expert rapidly and provide a foundation for a powerful business. Action Steps: Begin with a profitable strategy that sells shovels to t...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: We’re again reminded that you don’t need to solve the problem for everyone. Different people will have different goal setting tools & tactics that resonate with them. Helping a small percentage of those struggling with goal setting could still be massively valuable. Action Steps: Research habit and goal experts and offer to partner with them on development of a goal achievement app Pursue the enterprise market: contact ...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Great businesses often start with an urgent demand that people are asking to pay for. You just have to notice it and double down on the niche. As baby boomers retire, there is a big opportunity in modernizing “sweaty startups” Action Steps: Contact the owner of the Urban Lumber Co and see if he is interested in franchising his model Become a member of the Urban Wood Network for $50 to learn how to build an urban wood busine...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Out of work travel and tourism specialists in vacation spots can be hired cheaply to build a business You can build a 300K / yr business starting with a spreadsheet and a private slack group If you think that buying property in other countries would be a headache, you’re right. Action Steps: Contact Pieter Levels of Nomad List and pitch him a collaboration on this higher-end service. Smaller travel services are hurting. Pit...
If you like the show, please leave a review on Apple Podcasts ! Nuggets: Simple tip to increase your meeting effectiveness: stop 5 minutes early and ask “who will do what by when?” Generally easier to sell to a profit center than a cost center (listen to Aline Lerner episode for more on this) The hard part of this idea is building something users will stick with. Focus more on reducing friction and making the app a joy to use and worry less about back-end bells and whistles. Look for teachable m...
