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You can surely get away with a boring product with no soul, but being so good you can’t ignore is much more powerful.
I decided to add more thoughts, refine existing ones, and put it in a permanent place.You should give yourself every opportunity possible, especially as an entrepreneur where every advantage counts.Give yourself credit– This is the thing I do the least of and I’m trying to work on it.It’s the ecosystem that’s currently happening with the paypal mafia and can be traced all the way back to fairchild semiconductor.Charge for something– Building a consumer property dependent upon advertising has easily made many millionaires, but it isn’t the surest path.It takes a lot of time and scale, which due to cashflow issues will require large outside investment probably before you are a millionaire. That’s how business has worked for thousands of years prior to the 1990s. DHH explains this really well at Startup School 08. There are also things like Parrot Secrets, which make 400k a year.
Information Products Are Valuable- E-Books, screencasts, And anything that can teach others to be good at something is a very lucrative business. Bonus points if the information helps a person make money (directly or indirectly) or improves their self image. That may get you a somewhere in the 5 figures, but word will spread that your shit smells.
Give yourself every opportunity you can- I use this as a reason why starting a company in silicon valley when it comes to tech is a good idea.
You can succeed anywhere in the world, but you certainly have a better chance in the valley.
Your primary metric shouldn’t be dollars- If you’re going after a big enough market and charging a reasonable amount, you can hit a million dollars.
Focus on growth, customer acquisition costs, lifetime value of the customer, and churn. You could easily replace the SEO example with: App store, facebook, etc. What they think matters and they will ultimately put their money where their mouth is. It did not matter if I had not slept for two days, traveling across the country, or whatever else.
If you implemented X it would take a ton of time and morph what you’re doing.