Making A Million Bucks in 48 Hours? | Noah Kagan
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Eric Siu interviews Noah Kagan, the founder of AppSumo, to explore essential entrepreneurial insights. They discuss the significance of having a clear vision, maintaining high standards, and finding joy in the entrepreneurial journey. Noah shares practical strategies for achieving business success, emphasizing the importance of focus, goal setting, and overcoming challenges. Noah's wealth of experiences and practical advice offers valuable insights for aspiring entrepreneurs.
Watch the full interview here: https://youtu.be/Dqccee-F0QA
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TIME-STAMPED SHOW NOTES:
- (00:00) Introduction to Noah Kagan
- (02:06) Importance of internal satisfaction rather than external achievements
- (06:00) Noah Kagan's approach to hiring elite advisors
- (07:20) Example of Mark Zuckerberg having a business coach
- (08:12) Noah Kagan's coaching framework and the coaches he has
- (14:26) Noah Kagan's approach to reaching out to prefluencers and the importance of engagement
- (16:06) Introduction to Noah Kagan's business, Appsumo
- (19:06) Noah Kagan's goal for Appsumo's growth
- (22:14) Balancing running a business, YouTube channel, and book writing
- (37:59) The interest rate environment in 2020 and 2021 has led to founders stepping back into their businesses.
- (38:29) Hiring CEOs may be overrated as founders are better at driving the vision.
- (40:00) AppSumo's team has been reduced to improve efficiency and profitability.
- (46:15) Many businesses fail because they quit too soon before seeing success.
- (53:52) Eric Siu and Noah Kagan discuss the inspiration behind their book, "Million Dollar Weekend."
- (56:30) Eric asks Noah to explain the 1-minute business model and its impact on AppSumo.
- (57:09) Noah emphasizes the importance of targeting a million-dollar market and optimizing the business model.
- (01:00:40) Eric Siu mentions sales as a pain point in his business.
- (01:04:00) Noah shares his thoughts on lifetime deals and subscriptions.
- (01:05:10) Eric asks Noah about finding contentment and fulfillment in life.
- (01:09:00) Noah Kagan explains how he approached dating like a business, focusing on who he wanted and where to find them.
- (01:15:40) Noah Kagan emphasizes the need to grow a business through social media and monetize the audience.
- (01:19:30) Noah Kagan explains different business models for newsletters and how Appsumo monetizes its newsletter.
- (01:21:10) Noah Kagan shares his five-part strategy for promoting his book, including building a launch team.
- (01:24:00) Noah Kagan discusses the success of hand-to-hand marketing and using surveys to engage customers.
- (01:26:15) Noah Kagan explains his goal of selling 25,000 books and his research-based approach to podcast interviews.
- (01:27:00) Noah Kagan shares his list of top ten shows to promote his book.
- (01:32:14) Noah Kagan emphasizes the importance of making an impact rather than just making a list.
- (01:41:52) Jeremy's impact on the YouTube channel's growth
- (01:47:15) Investing in the YouTube channel as an audience-building strategy
- (01:56:50) Noah Kagan shares the story of Larry Janeski, who built a successful business by never quitting.
- (01:58:30) Noah Kagan discusses the structure and budget of his content team
- (02:06:00) Balancing sustainability and enjoyment in content creation
- (02:09:09) Noah Kagan's website for more information
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