Announcement: The $3M Challenge by GrowthHit
If we’re such a good growth team then why can’t we grow our own brands?
That’s the question we’ve been asking ourselves.
Our growth marketing agency has been lucky to be part of some insane growth stories.
- Brands featured on Shark Tank
- Startups that raised $65M, $85M, and $100M in funding
- Companies backed by A16z, Y-combinator, Techstars, etc.
But, we’re just the growth folks.
We don’t know operations, finance, customer service, tech, etc. We cannot run a business.
Or can we?
We’ve decided to put our skills to the test.
And we’re doing it in public.
Today, we’re announcing the $3M Challenge.
We are going to launch and grow 3 companies to $1M in sales. Specifically, an agency, a D2C brand and a SaaS Company.
And we’re going to document every step of the way.
Yes, we’re launching 3 businesses and we aren’t stopping til we hit 7 figures each.
[Hold for suspense.]
So, you probably have some questions on why we would do this.
So here we go. In a FAQ format …
Why did we pick D2C, SaaS and an agency as our focus?
These are the types of clients we work with so we want to put our knowledge of working with 150+ startups to work.
Why are we doing this?
It aligns with our bigger goal of building a portfolio of companies and launching a startup studio. We call it Hit Lab Ventures. More on this in a future post.
Plus, we want to work in public.
It’s a 2 birds with one stone type of deal.
Are we fundraising for this?
No. We’re going to fund everything ourselves.
But, if you really want to invest in us then convince me I am wrong.
When will we be doing updates on these companies?
Expect Bi-monthly newsletter updates, podcast episodes, youtube videos, and late night cries for help on Twitter.
Are we going to post when we mess up?
Yes. And we will probably be making lots of mistakes. Hopefully you can learn from us.
Okay, so what are the companies?
For the D2C startup, we’re launching our own brand.
For the SaaS company, we’re acquiring a company and hiring a CTO. (If you know any aspiring CTOs then hit us up.)
For the agency, we’re documenting what we did at GrowthHit to hit 7 figures.
How do we know your Revenue Numbers?
We’ll be updating our progress meter every month. Here it is below.
Want more? Listen to our latest podcast episode where we talk about The $3M Challenge.
DID YOU MISS LAST WEEK’S EMAIL? Here are the top articles.
People enjoyed From Idea to $11M Raised with Copy.ai Co-Founder, Chris Lu and 24% of you wanted to know How to Find New Customers and Increase Sales [90-DAY ACTION PLAN].
Here are the articles that caught my attention this week:
2️⃣ Two Things that Kill Bootstrapped Companies
There are two big risks founders face when starting something new:
- Working on the wrong idea and burning out.
- Burning out while working on the right idea.
“Running WP Curve was never about hard work. I worked part-time on the business, and I earned 5X as much as I’d ever earned before. It grew 10% a month for 2 years with very little effort. That’s what happens with good businesses: they grow. Momentum does the ‘hard work’ for you. ” – Dan Norris
📝 Viral Ecom Ads: Take Your Brand From an Obscure Startup to a Household Name With This $87M Template
How do you go from an obscure startup nobody’s ever heard of to a household favorite renowned across the globe?
Easy – go viral through online ads.
The CEO of Harmon Brothers gives a copy of his $87M template for viral ecom ads that can help catapult your brand to the top of your niche. Here are his 5 steps:
- Nail your brand messaging
- Go on a Learning Ad Blitz (LABz)
- Dive into the Harmon Brothers Sprint Campaigns
- Meet the Harmon Brothers Hero Campaigns
- Master the Branded material
💭 Finding Language/Market Fit: How to Make Customers Feel Like You’ve Read Their Minds
Most founders are focused on finding product/market fit, zeroing in on the right set of features to match their prospects’ needs. Moreover, fine-tuning language seems like “marketing,” which is usually seen as a later priority, not step zero. Lastly, people also don’t tend to like going out of their comfort zone — and for technical founders especially, this work usually is.
Yet there are real costs to not prioritizing this deeper work. Before language/market fit, growth feels like pushing on a string, a lot of work for incremental gains.
📅 Step-By-Step Viral Giveaway Guide (With Templates)
Learn exactly how to get hundreds (sometimes even thousands) of new email subscribers for your business using a proven system we’ve tested with several brands across multiple different consumer verticals.
The best part: you don’t need a huge social media following or even an existing email list (though it doesn’t hurt), and it costs approximately $0 in ads. Here are the steps they cover in the post.
Here are the steps we cover in this post:
- Choose what to give away
- Make a list of brands you’d like to include
- Reach out to potential partners
- Set up your Giveaway using KingSumo
- Promote your giveaway
- Choose your winner(s) using KingSumo
- Verify & upload your new subscribers
- Convert new subscribers into customers
📧 Email Popups: This Is Your Strategy Guide
This guide covers everything you need to know about mastering successful email popups in 2021.
Popups are effective, but if they’re too big or hard to close, they can make the page’s content inaccessible, hurting the user experience.
While email popups are most associated with list building, there’s more to popups than collecting emails.
Want more content like this? Join my email list or listen to my podcast, If I Was Starting Today.