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š” Entrepreneurial Insight
For a new product it's often faster to get 10 paying customers by giving it away for free until you get 10 testimonials, than it is to try selling the product from the beginning.
Based on Alex Hormozi's customer acquisition tactics.
āļø Balance Hack
Focus on the things that feel 'natural' to you. Don't confuse doing hard things with suffering. If you're suffering while executing certain tasks - rethink. Is there another approach that is more natural for me?
Inspired by an interview with Michael Dell, founder of Dell Technologies - who started the company with $1000 and bootstrapped it to $160M total revenue before raising capital.
š Challenge
This week, in your (business) conversations use these three charisma boosters:
- Lower the intonation of your voice at the end of each sentence.
- Nod slower and less frequently when you listen to someone.
- Pause for 2 secs before answering.
Based on Olivia Fox Cabane's charisma training techniques for executives and entrepreneurs.
⨠Recommendation
You might hear this a lot: "Before chasing new customers, make it a no-brainer for your existing customers to continue to use your product."
āBut how to constantly overdeliver? Feeding this prompt into an LLM might help you brainstorm:
'I need your help conducting a quick thought experiment. I recently started a new paid [PRODUCT TYPE] called [PRODUCT NAME]. The value proposition is [BRIEF DESCRIPTION OF YOUR CORE OFFERING]. My current price point is [PRICE POINT], but I'm trying to think of different ways I can make the product so valuable that it's an absolute no-brainer for people to stay forever. Specifically, I'm trying to think of how I can decrease time to value, so as soon as somebody joins, we immediately over-deliver, making it impossible for them to leave.
Please brainstorm 20 ideas in two buckets:
⢠10 completely over-the-top, unrealistic ideas to push my thinking
⢠10 valuable but more realistic ideas given my current resources.'
Created by content-creator Daniel Bustamante.
ā Question for you to ask another Entrepreneur
If you were hired to build a direct competitor to put your own company out of business, what is the one uncommon strategy you would use that you're currently unwilling to try?
ā 40HE Club Insights
Last week, serial bootstrapped founder Arturo (e.g. Studentfy, 45k app downloads) shared three core insights for building a founding team in a Q&A session with our members:
- Find a True Technical Co-founder: Don't just outsource - secure a technical partner who shares your passion.
- Prioritize Vision Alignment: Co-founder alignment on the long-term vision is more critical than friendship.
- Formalize Early: Solidify the partnership with clear shareholder agreements and 'good/bad leaver' clauses before conflicts arise.