Noah Kagan, founder of AppSumo, shares his step-by-step business launch process and his alternative to Docusign. He discusses the significance of generosity, techniques used by rich people, and the trend of lifetime software deals. The chapter also covers software tools and updates, positive experience with Gusto payroll software, the power of personal social media management, and strategies for creating YouTube videos and selling products.
Validating business ideas through asking and receiving feedback helps entrepreneurs find opportunities in problem-solving.
Offering lifetime deals for software products attracts new buyers, generates revenue, and fosters customer loyalty.
Starting a business quickly, validating ideas, and embracing challenges are crucial for long-term success in entrepreneurship.
Deep dives
The Power of Validation and Asking
Noah Kagan discusses the importance of validating business ideas before diving in. He shares his approach of starting with a small ask and listening to potential customers' pain points and needs. By practicing the art of asking and receiving feedback, entrepreneurs can find opportunities in problem-solving. Kagan emphasizes the value of validating ideas quickly, especially through pre-sales, marketplace postings, and customer interaction.
The Benefit of Low-Cost Lifetime Deals
Kagan explains the strategy of offering lifetime deals for software products on his platform, AppSumo. These deals attract new buyers to the ecosystem and are effective for generating revenue and customer loyalty. By providing affordable tools and viral offerings, they create an entry point for customers to join the AppSumo community.
The Journey of Starting a Business in a Weekend
Through the concept of the 'Million Dollar Weekend' presented in his book, Kagan shares his experience of starting a business in a short timeframe. He highlights the importance of getting started quickly, practicing the art of asking, validating ideas, and focusing on million-dollar opportunities. Kagan encourages entrepreneurs to embrace challenges and push beyond their comfort zones in order to achieve long-term success.
The Impact of YouTube and Content Creation
Discussing his YouTube channel, Kagan reveals that he enjoys the social aspect of connecting with viewers and meeting interesting people through his content. He also acknowledges the value of building an audience and utilizing social media to grow one's business. Kagan emphasizes the importance of owning your audience rather than relying solely on social media platforms to avoid potential pitfalls.
Conclusion
Noah Kagan's podcast episode covers the significance of validation, the effectiveness of low-cost lifetime deals, the process of starting a business in a short timeframe, and the benefits and challenges of YouTube content creation. His insights provide valuable lessons for entrepreneurs looking to create successful and sustainable businesses.
My vision for this interview was to hear Noah Kagan’s process for launching companies, like the $80+ million / year AppSumo – the process he wrote about in his book, Million Dollar Weekend.
We did that. You’ll hear his step-by-step business launch process.
But, when I asked him how he was proving his process, he told me he was creating an alternative to Docusign and started asking me about the problems I have with it. I got so angry listing my problems that I told him I’d fork up whatever money he wanted to buy his alternative.
Noah Kagan is the founder of AppSumo, which provides entrepreneurs deals on software and other tools. He’s also a popular YouTuber whose channel just broke 1 million subscribers and the author of “Million Dollar Weekend.”
Sponsored by
Gusto – The easy payroll and benefits software the Mixergy interviewees love.