$270,000,000 Worth of Business Advice From Noah Kagan
May 14, 2024
auto_awesome
Noah Kagan, Entrepreneur and founder of AppSumo, shares business advice on starting small, validating ideas, and transforming concepts into enterprises. Topics include simplifying decision-making, nurturing talent, empowering financial freedom, and overcoming fear in pursuing ventures.
Start small in business to overcome fear and take immediate action.
Validate business ideas quickly through customer feedback for rapid growth.
Find talented individuals and provide coaching for business success.
Deep dives
Importance of Starting Today
Noah Kagan emphasizes the importance of starting businesses immediately. He highlights how many aspiring entrepreneurs create unnecessary fear and delay taking action. By facing challenges head-on, individuals often realize their capabilities are greater than expected. Kagan emphasizes that all successful businesses start with the first dollar, encouraging simplicity in making initial income.
First Dollar Entrepreneurial Journey
Noah Kagan shares his experience of making his first dollar online with a student discount card business called NinjaCard.com. He narrates the process of partnering with local restaurants to offer discount cards, targeting college students. Kagan's story underscores that taking action and starting initiatives can pave the way for entrepreneurial success, as seen in his journey from a $10 sale to his multimillion-dollar company, AppSumo.
Finding Success through Coaching and Talent
Kagan discusses the significance of effective coaching and finding talented individuals within existing networks. He emphasizes the value of pairing talented individuals with coaches and mentors for growth and success. Kagan's approach to hiring focuses on identifying individuals with aptitude and positive attitudes within his audience or network, fostering their development into key roles within his businesses.
The Power of Asking and Simplifying Business Ventures
The podcast emphasizes the power of asking for what you want in business ventures. It highlights the importance of simplifying business approaches by directly addressing the needs and interests of potential customers. Through examples such as creating growable baby clothing or offering a unique service like delivering healthy meals, the podcast stresses the value of proactive customer interaction and testing ideas directly through customer feedback.
Embracing Time Urgency and Immediate Action
The episode underscores the significance of time urgency and taking immediate action to kickstart entrepreneurial endeavors. It encourages setting strict deadlines to initiate projects and validate ideas within a short timeframe, such as a weekend. By sharing personal experiences of quick validation leading to business success, the podcast motivates listeners to overcome fear, face rejection, and rapidly test and iterate on business concepts for accelerated growth.
#84 What did you do last weekend? You could have started a business, according to Noah Kagan, entrepreneur and founder of AppSumo. In this episode, he shares his journey from launching a simple student discount card to building multimillion-dollar businesses. He emphasizes the importance of starting small, recognizing everyday problems as business opportunities, and validating ideas before scaling. Dive into Noah’s practical advice for transforming simple concepts into enterprises and get going on your dream!
Finding great talent doesn't have to be a second job. You can hire faster and better with Indeed - get a $75 sponsored job credit at https://INDEED.COM/ERIKA
I’m running a free “Save $1,000 Challenge” to teach you creative strategies to save money. It’s 5 days long and starts on Monday. Grab your free spot here: https://Erika.com/go
Thanks for tuning in and come back every Tuesday for a brand-new episode! Make sure you hit the follow button to get notified. Prefer to listen on the go? Listen wherever you get your podcasts. https://www.erikataughtme.com/follow
Did you enjoy the episode? Please leave us a review herehttps://erika.com/review : (just scroll to the bottom and tap on “leave a review”) It really helps the podcast especially since we’re just getting started. Even just a sentence is perfect!
Follow the podcast @erikataughtme across platforms.
