This is from my weekly newsletter where I feature 5 must-read articles for founders, marketers, and want-a-preneurs. Enjoy!
What are the four types of leverage? How can you use them to grow a business or a career?
Today’s guest is Eric Jorgenson, author of the book The Almanack of Naval Ravikant: A Guide to Wealth and Happiness, discusses working with Naval, understanding and using the different types of leverage, and where to get started with a new idea.
In this episode, we talk about:
- How Eric’s book with Naval came to be
- The 4 different types of leverage
- Where to get started with leverage as a business owner
- Eric’s half-baked ideas
Okay, here are five things that caught my attention.
From outlining the unique insight, to capturing how customers might respond and sizing the market you’re going after, there’s a long punch list of things to chase down.
In other words, if you want to find the next great startup idea, you can’t wait for the proverbial lightbulb moment — you have to do your homework.
Here are some of my favorite approaches:
- Put More Effort Into Problem Selection Than You Think You Need To
- Hunt For Ideas In Non-obvious Markets
- Start Pitching, But Learn To Sort Through All The Feedback
A list of cool websites you might not know about…
Here are some of my favorites:
- Grad Speeches – Discover the best commencement speeches
- shityoucanafford.com – Buy cool gifts and gadgets for almost no money
- agoodmovietowatch.com – Do you spend all your Netflix time trying to figure out which movie to watch? Problem solved
First-hand accounts of how essentially every major consumer app acquired their earliest users, including lessons from Tinder, Uber, Superhuman, TikTok, Product Hunt, Netflix, and many more. A few takeaways:
- Most startups found their early users from just a single strategy
- The most popular strategies involve going to your user directly
- The tactics that you use to get your first 1,000 users are very different from your next 10,000
The best e-commerce checkout pages aren’t necessarily the most flashy or visually compelling.
By the point your customer adds something to their cart, you’ve already persuaded them to buy. That means there’s no need to wow them with branding or fancy language. Instead, it’s all about getting them to complete their purchase as quickly and smoothly as possible.
The key to success today with Facebook ads is to have strong copy, great creative, and solid offers that are really focused on your customers. And this is true whether you’re selling information, in the eCommerce space, or in the services space. You can use Facebook ads to scale your business and increase your client base.
There are four old-school marketing attribution models that have been in use since before tracking a user’s activity across the internet was mainstream. Businesses that are just starting to adjust their strategy, have only experienced Facebook ads without these tracking restrictions, and are just now looking to start using Facebook ads as part of their marketing strategy will all benefit from studying these models.
Hope these articles can help you in your career.