Listen to… turn an audience into a $1M+ software business, learn from the humble beginnings of a $100M empire and get Bob Iger on speed dial…
Never too late to start
Despite Gwyneth Paltrow being far from a “normal” place when she switched to entrepreneurship, this episode of Masters of Scale is worth a listen if you’re unsure about starting your own thing. Especially if it’s coming later in life after a different career path.
When I say far from normal, not everyone can call up Bob Iger to pick his brains 😂
“So I said, I wonder if I could get Bob Iger on the phone. He’s also been very generous, when I can squeeze him for an hour or 15 minutes here and there. I think you just have to be scrappy, and try.
Lot’s of good stuff in this one but here’s 3 that resonated with me:
- Don’t wait for permission, just start. You won’t know 100% of what you’re doing when you start – that’s just the way it is. You won’t figure it out by not starting so do it anyway. Very Seth Godin.
- Ask for help. Goes hand in hand with the above – you don’t know everything. Seek guidance from others who’ve done the things you want to do.
- Experiment with everything and then double down on what works. Not only for product but all aspects of your marketing and operations.
An accidental YouTube audience
Adam Preiser walks through his journey from accidentally starting an audience on YouTube to building a software product for that audience (CartFlows – WordPress plugin for sales funnels)
My first listen of Freelance to Founder and it was the kind of story I like – real people finding gaps in the market and developing content and products to fill it.
- You don’t need to have completely new ideas for products – there’s huge value in being able to take something complicated that’s already out there, and simplifying how to use it.
- If you’re going to do video, put your face on camera. Deep down people want to connect with other people. I guess this applies to any kind of content you put out there.
- Build an audience. It will make it exponentially easier to launch a product when it’s ready.
From newsletter to 9 figures
Dr Josh Axe turned the pain of poor health in his family, into a passion project to share his ideas on online. Starting with a simple newsletter written for his patients, he built a $100M nutrition business empire.
Short founder story on The Mike Dillard Podcast with tips useful for businesses of any size.
- If you’re going to create written content, make every piece a masterpiece. Make it the best article in the world on that topic. That’s how to get some love from Google.
- Sell someone else’s product first before launching your own. Learn the market needs and the gaps before investing in your own. True for physical and digital.
- When you do launch, presell before investing in manufacturing (or creating digital products). Make sure it’s viable. And the upfront cash will help the financials.