8 business ideas found on 2024-06-25

## Business Ideas:

1. Offering Additional Marketing Channels - Elapsed: 0:12, Remaining: 27:23

2. Leveraging Affiliate Marketing for SaaS Products - Elapsed: 0:43, Remaining: 26:52

3. Live Chat Support for Small Businesses - Elapsed: 1:25, Remaining: 26:10

4. Content Creation for TikTok Shop and Beyond - Elapsed: 1:58, Remaining: 25:37

5. Electric Air Taxis Are Coming - Elapsed: 6:35, Remaining: 21:00

6. Toys \"R\" Us: From Baby Furniture to Toy Empire - Elapsed: 9:39, Remaining: 17:56

7. Starting a direct-to-consumer cowboy boot company - Elapsed: 10:27, Remaining: 17:08

8. Developing Technology for Personalized Health Insights and Actionable Advice - Elapsed: 18:11, Remaining: 9:24

## Business Learnings:

1. Kill the Little Voice Inside - Elapsed: 2:38, Remaining: 24:57

2. Embrace Fun and Showmanship - Elapsed: 3:03, Remaining: 24:32

3. Stop Praying to the Internet Gods & Create Repeatable Systems - Elapsed: 3:33, Remaining: 24:02

4. Focus on Consumption Before Conversion - Elapsed: 4:05, Remaining: 23:30

5. How to Get the Best From Trump and Remote Work - Elapsed: 4:50, Remaining: 22:44

6. The Future of Office Real Estate - Elapsed: 8:22, Remaining: 19:13

7. Carry in a Financial Crisis - Elapsed: 9:06, Remaining: 18:29

8. Combining personal interests and business acumen - Elapsed: 11:29, Remaining: 16:06

9. Early scrappy marketing - Elapsed: 12:16, Remaining: 15:19

10. The value of a feedback-oriented culture - Elapsed: 12:59, Remaining: 14:36

11. Knowing when to transition from CEO - Elapsed: 13:32, Remaining: 14:03

12. Focusing on Revenue Generation in a Challenging Market - Elapsed: 14:21, Remaining: 13:14

13. The Importance of Process in Healthcare Software Development - Elapsed: 15:08, Remaining: 12:27

14. The Challenges and Opportunities of A I in Healthcare - Elapsed: 16:17, Remaining: 11:18

15. Navigating the Complexities of the US Healthcare System - Elapsed: 17:16, Remaining: 10:19

16. GPT-40\'s Advanced Capabilities - Elapsed: 19:09, Remaining: 8:26

17. The Value of Humility and Curiosity for Founders - Elapsed: 20:50, Remaining: 6:45

18. Building a Supportive Community for Founders - Elapsed: 21:14, Remaining: 6:21

19. The Power of a Structured Program for Startup Growth - Elapsed: 21:42, Remaining: 5:53

20. The Benefits of Mentorship and a \"Give First\" Attitude - Elapsed: 22:06, Remaining: 5:29

21. The Lasting Impact of the Techstars Experience - Elapsed: 22:28, Remaining: 5:07

22. Testing Pricing - Elapsed: 23:05, Remaining: 4:30

23. One-Time Payments: Proceed with Caution - Elapsed: 24:27, Remaining: 3:08

24. Building for Acquisition vs. Retention - Elapsed: 25:40, Remaining: 1:54

25. Finding Mentors - Elapsed: 26:58, Remaining: 0:37

[0.00] My First Million_5 Business Ideas To Start Today With $0 ft. Shark Tank's Sabri Suby.txt

My First Million

5 Business Ideas To Start Today With $0 ft. Shark Tank's Sabri Suby

"-BUSINESS IDEA- 1: **Offering Additional Marketing Channels**

At 0m 0s - [YouTube Link:

This business idea capitalizes on the tendency of businesses to focus solely on one successful marketing channel, neglecting other potentially lucrative avenues. The proposed approach involves identifying businesses heavily reliant on platforms like Google Ads or Facebook Ads and offering to expand their reach by managing additional channels like TikTok or Amazon FBA on a commission-based model. This risk-free proposition eliminates upfront costs for the client, making it an appealing offer.

-BUSINESS IDEA- 2: **Leveraging Affiliate Marketing for SaaS Products**

At 3m 16s - [YouTube Link:

This idea focuses on capitalizing on the rising customer acquisition costs (CAC) for SaaS companies. The strategy involves becoming an affiliate for popular SaaS products like HubSpot, Hyros, or GoHighLevel, which offer generous commission structures. Instead of directly promoting the SaaS product, the entrepreneur would create a free, niche-specific funnel (e.g., for chiropractors). This funnel would then be offered to businesses in that niche, with the catch being that they must sign up for the SaaS product through the affiliate link to access the funnel. This method allows the entrepreneur to earn substantial commissions by providing valuable resources to clients.

-BUSINESS IDEA- 3: **Live Chat Support for Small Businesses**

At 12m 22s - [YouTube Link:

This idea targets the large number of small businesses that lack the resources for after-hours customer support. The entrepreneur would offer a free live chat service, handling inquiries and potentially even closing sales for these businesses during their off-hours. This free service eliminates client objections and creates a compelling offer. By demonstrating the value of this service, the entrepreneur can eventually convert clients to paying customers or scale the operation by hiring additional staff.

-BUSINESS IDEA- 4: **Content Creation for TikTok Shop and Beyond**

At 15m 10s - [YouTube Link:

This idea taps into the booming world of social commerce, particularly on platforms like TikTok Shop and YouTube Shopping. The entrepreneur would leverage A I tools like 11 Labs and Midjourney to create engaging content promoting top-selling products without needing to appear on camera. This content can be used for affiliate marketing on TikTok Shop or offered as a service to brands seeking to expand their presence on the platform. The skills learned through this process342200224copywriting, video editing, and understanding social media trends342200224are highly valuable and can be applied to other marketing opportunities.

-BUSINESS LEARNING- 1: **Kill the Little Voice Inside**

At 26m 46s - [YouTube Link:

This principle emphasizes the importance of silencing the internal voice that encourages procrastination and self-doubt. Sabri Suby, the speaker, advocates for a proactive approach to silencing this voice by intentionally pushing through discomfort and increasing effort whenever the voice attempts to deter him from his goals. This approach encourages consistency and discipline, leading to greater success.

-BUSINESS LEARNING- 2: **Embrace Fun and Showmanship**

At 31m 53s - [YouTube Link:

This philosophy centers on the idea that injecting fun and Showmanship into business can lead to greater engagement, attention, and ultimately, success. Suby highlights how prioritizing enjoyment in his work, such as creating a humorous ad campaign, has led to increased sales. He encourages incorporating elements of entertainment and playfulness into various aspects of business, from marketing campaigns to team meetings, to maintain a high level of energy and enthusiasm.

-BUSINESS LEARNING- 3: **Stop Praying to the Internet Gods & Create Repeatable Systems**

At 49m 47s - [YouTube Link:

This principle focuses on the importance of creating reliable, predictable systems for generating revenue rather than relying on chance or the whims of social media algorithms. The speaker emphasizes the importance of having a repeatable process for acquiring clients, suggesting the use of sales funnels and lead generation strategies as examples. By developing these systems, businesses can ensure consistent growth and avoid the pitfalls of unpredictable income streams.

-BUSINESS LEARNING- 4: **Focus on Consumption Before Conversion**

At 54m 46s - [YouTube Link:

This marketing principle stresses the importance of prioritizing content consumption over immediate sales pitches. The speaker argues that capturing a prospect's attention and delivering value through engaging content is crucial before making any offer. By focusing on creating content that is informative, entertaining, or otherwise valuable, businesses can build trust and rapport with their audience, leading to higher conversion rates in the long run.

"

[279.64] This Week in Startups_Immigration, The Trump Interview, Air Taxis in the Bay Area and the Future of Remote Work _ E1971.txt

This Week in Startups

Immigration, The Trump Interview, Air Taxis in the Bay Area and the Future of Remote Work | E1971

"-BUSINESS LEARNING- 1: How to Get the Best From Trump and Remote Work

At 15m 4s - [YouTube Link:

tThe best way to interview Donald Trump is to lead him where you want him to go by offering him a bit of a leash and then letting him follow.tHe is a very effective talker and will pick up on what you want to hear and respond accordingly.tTrump's campaign is attempting to walk back his commitment to offering green cards to all graduates of 2 and 4-year colleges in America.tIt appears that Trump may in fact offer green cards to some high-skilled graduates, but only a small number.tThis negotiation about immigration is happening between those who want a free and permissive border, and those who want the least permissive border possible.tThe majority of Americans however, want reasonable immigration and are likely to agree to offering green cards to graduates.tCorporate America is now cutthroat and not loyal to employees, and the second there's an opportunity, will replace employees with A I or an offshore worker.tHowever, remote work is still a valuable option and can even be more productive.tManagement generally does not know how to manage remote workers, and most people are not mature and driven enough to work remotely.tThe top 20% of workers are likely to be more productive at home.tUltimately, the negotiation happening is that young people who are not yet elite must come into the office if they want to invest in their career.tIf a young person does not want to invest in their career, they can work remotely, but they will not be a priority and will not receive career advancement.t

-BUSINESS IDEA- 2: Electric Air Taxis Are Coming

At 48m 30s - [YouTube Link:

tThe Bay Area, with its topography and weather, would be the perfect place to launch electric air taxis.tThe Bay Area is similar to other places such as the Middle East or Sydney Australia in that it is situated on a bay and people regularly commute across water.tThe air taxis would allow people to commute across water at 150mph.tMany companies are attempting to bring electric air taxis to market.tThese companies include Archer, Joby, Whisk, Vertical Aerospace, and Lilium.tThe Joby electric air taxi has 8 rotors that allow it to vertically take off and land, as well as wings that allow it to fly more like a plane once it is in the air.tThe public market is currently down on companies that are developing these air taxis because it will likely take decades to develop the technology.tThis presents a good opportunity for investors who are willing to invest long-term, as the products are not yet on the market.tIf these companies can bring air taxis to market, they will be successful because people are willing to spend large amounts of money to save time.t

"

[440.31] World of DaaS with Auren Hoffman_The simple reason American housing is so expensive l Fundrise CEO Ben Miller.txt

World of DaaS with Auren Hoffman

The simple reason American housing is so expensive l Fundrise CEO Ben Miller

"There is no information about business ideas or business learnings in the provided text.

"

[453.46] World of DaaS with Auren Hoffman_Office Real Estate is Dead l Fundrise CEO Ben Miller.txt

World of DaaS with Auren Hoffman

Office Real Estate is Dead l Fundrise CEO Ben Miller

"-BUSINESS LEARNING- 1: **The Future of Office Real Estate**

[Timestamp: 0.08]

The future of office real estate looks bleak, similar to the state of retail when e-commerce emerged in 1999. At that time, e-commerce constituted a mere 1% of the economy, yet it eventually disrupted the retail landscape. Similarly, the work-from-home trend is here to stay and will likely become more advanced and integrated in the future, posing a significant threat to traditional office spaces.

"

[491.75] World of DaaS with Auren Hoffman_A _one way option_ l Why Fundrise doesn't charge carry l Ben Miller.txt

World of DaaS with Auren Hoffman

A "one way option" l Why Fundrise doesn't charge carry l Ben Miller

"At 0m 2s - [YouTube Link:

**-BUSINESS LEARNING- 1. Carry in a Financial Crisis**

During the 2008 financial crisis, it became clear that "carry" seemed to be structured like a one-way option. Many individuals were rewarded for taking risks, but there was little consequence when those risks resulted in losses. This highlighted a flaw in the system, emphasizing the need for more balanced risk-reward mechanisms in finance.

"

[526.86] TechCrunch_Toys R Us commercial created with OpenAI's SORA _ TechCrunch.txt

TechCrunch

Toys R Us commercial created with OpenAI's SORA | TechCrunch

"**-BUSINESS IDEA- 1. Toys "R" Us: From Baby Furniture to Toy Empire**

At 0m 0s - [YouTube Link:

Charles Lazarus, son of a bike shop owner, had a vision that would revolutionize the toy industry. He started a business specializing in baby furniture, but as he noticed the increasing demand for toys, he saw an opportunity to expand. This led to the birth of Toys "R" Us, a toy store concept that aimed to provide a vast selection and a unique shopping experience for children. Lazarus's dream was to create a magical place where kids could explore a world of toys, making their dreams come true.

"

[569.56] TechCrunch_Making DTC western wear work with Paul Hedrick from Tecovas.txt

TechCrunch

Making DTC western wear work with Paul Hedrick from Tecovas

"-BUSINESS IDEA- 1: Starting a direct-to-consumer cowboy boot company

At 0m 2s - [YouTube Link:

tPaul Hedrick, founder of Tecovas, had the idea of starting a direct-to-consumer cowboy boot company while working in private equity in New York City. He was a native Texan who enjoyed wearing cowboy boots to the office but found that the existing options were either too expensive or not stylish enough.tHe saw a gap in the market for high-quality, stylish cowboy boots at an affordable price point. He also recognized that the cowboy boot industry was behind the times in terms of e-commerce adoption.tHedrick moved to Austin, Texas, and bootstrapped the company until its launch in October 2015. He sourced his boots from a renowned artisan factory in Leon, Mexico, and sold them exclusively online through a Shopify website.tTecovas was profitable from day one and grew rapidly through social media advertising. The company was able to keep costs down by selling direct-to-consumer and by focusing on a core product line.

-BUSINESS LEARNING- 2: Combining personal interests and business acumen

At 2m 39s - [YouTube Link:

tPaul Hedrick's decision to start Tecovas came from a combination of personal interests and business acumen. He realized that his risk tolerance and creative side were not being fulfilled in his private equity job. He was also passionate about cowboy boots and saw a gap in the market for a brand that catered to his style and budget.tHedrick's experience in consulting and private equity gave him the skills he needed to launch and grow a successful business. He was able to break down complex problems into manageable steps, source high-quality products at a competitive price, and build a strong team. His understanding of finance also helped him to raise capital efficiently.

-BUSINESS LEARNING- 3: Early scrappy marketing

At 16m 41s - [YouTube Link:

tIn the early days of Tecovas, Hedrick and his team had to be scrappy with their marketing efforts. They didn't have much money to spend on advertising, so they relied on physical sales to pay the rent.tHedrick would drive his old Forerunner to farmers markets and other events to sell boots in person. This allowed him to get valuable customer feedback and iterate on his product quickly.tAs the company grew, they were able to invest more in social media advertising. However, Hedrick always maintained a strong focus on sales and customer service. He knew that word-of-mouth marketing was essential for a brand like Tecovas.

-BUSINESS LEARNING- 4: The value of a feedback-oriented culture

At 30m 16s - [YouTube Link:

tHedrick wanted to create a feedback-oriented culture at Tecovas from day one. He felt that it was important for employees to know how they were doing and to have a clear understanding of the company's strategy.tHedrick borrowed from his experience at McKinsey, which had a very feedback-oriented culture. He instituted weekly All Hands meetings and gave employees regular feedback on their performance. This helped to create a sense of transparency and accountability within the company.

-BUSINESS LEARNING- 5: Knowing when to transition from CEO

At 26m 34s - [YouTube Link:

tHedrick realized that it was time to step down as CEO when he found himself spending more time on operations and people management than on brand, creative, and strategy - the things he truly enjoyed. He recognized that he wasn't the best person to lead Tecovas as it scaled to the next level.tHe decided to hire a CEO who had experience growing large companies. He brought on David, the former COO of Deckers, to run the day-to-day operations of the company. This allowed Hedrick to focus on his strengths and to continue to guide the long-term vision of Tecovas as executive chairman.

"

[796.43] Elijah Murray_The Ultimate Website Marketing Strategy.txt

Elijah Murray

The Ultimate Website Marketing Strategy

"**-BUSINESS LEARNING- 1: Focusing on Revenue Generation in a Challenging Market**

At 0m 35s - [YouTube Link:

In a challenging real estate market where brokerage splits are compressed, lawsuits are increasing, and listings are uncertain, it's crucial to prioritize revenue generation. Instead of focusing on "nice-to-have" marketing tactics like branded magnets, shift your focus towards partnerships that generate actual revenue. Seek out mortgage, title, insurance, and home warranty partners who offer revenue-sharing agreements. This approach helps brokerages diversify their income streams and navigate market downturns more effectively.

"

[835.40] Elijah Murray_Digital Health, AI in Healthcare, and Value-Based Care - RJ Kedziora _ The Long Game #049.txt

Elijah Murray

Digital Health, A I in Healthcare, and Value-Based Care - RJ Kedziora | The Long Game 049

"-BUSINESS LEARNING- 1: **The Importance of Process in Healthcare Software Development**

At 4m 11s - [YouTube Link:

Developing software for healthcare, while fundamentally similar to other industries, carries a unique weight due to its potential impact on human lives. This necessitates a heightened awareness of risk and a rigorous approach to process. Unlike consumer-facing applications, where A/B testing can be implemented on a large scale, healthcare software demands meticulous testing through smaller pilot studies and clinical trials before reaching a wider audience. This rigorous process ensures that the software delivers on its intended purpose and mitigates any potential negative impact on patients' health and wellbeing. The importance of a well-documented software development process, often certified under standards like ISO 13485, is paramount. Furthermore, integrating medical knowledge and training into the development process is crucial. This can involve educating the software developers about specific medical conditions, ensuring they understand the real-world implications of the software they are building. This emphasis on process, risk mitigation, and medical expertise ensures that healthcare software is developed with the utmost care and attention to patient safety and efficacy.

-BUSINESS LEARNING- 2: **The Challenges and Opportunities of A I in Healthcare**

At 11m 44s - [YouTube Link:

The healthcare industry, often characterized by its slow adoption of new technologies, faces a significant challenge in balancing the rapid advancements in artificial intelligence (AI) with the need for rigorous testing and patient safety. While A I offers immense potential to revolutionize healthcare, its implementation must be approached cautiously. The long research-to-practice timeline in healthcare, estimated at 17-18 years, underscores the importance of thorough vetting before widespread adoption. However, there are promising non-patient-facing applications of A I that can be implemented today, such as improving efficiency for healthcare professionals. For instance, AI-powered ambient listening technologies can transcribe patient-doctor conversations, automate note-taking, and generate reports, freeing up valuable time for healthcare providers to focus on patient care. This careful integration of AI, prioritizing non-patient-facing applications initially, allows healthcare to benefit from technological advancements while upholding the highest standards of patient safety.

-BUSINESS LEARNING- 3: **Navigating the Complexities of the US Healthcare System**

At 20m 2s - [YouTube Link:

The US healthcare system presents a unique set of complexities for both patients and innovators. One of the most striking features is its "sick-based" model, where providers are incentivized to treat illness rather than promote wellness. This creates a disconnect between the healthcare system's financial incentives and the long-term health goals of patients. This is further complicated by the lack of price transparency, making it impossible for patients to comparison shop for medical procedures as they would in other industries. Additionally, the reliance on insurance companies introduces another layer of complexity, as their short-term financial interests often clash with patients' long-term health goals. The transition to a value-based care model, focused on overall population health, offers a promising shift, but the entrenched interests of incumbent players pose significant obstacles.

-BUSINESS IDEA- 1: **Developing Technology for Personalized Health Insights and Actionable Advice**

At 32m 9s - [YouTube Link:

While the healthcare industry is awash in data collected from various wearables and health trackers, the real challenge lies in translating this data into meaningful insights and actionable advice for individuals. Existing technologies often fall short in providing personalized guidance beyond generic recommendations like "eat better" or "exercise more." A significant opportunity exists for developing technology that analyzes personal health data and provides tailored, actionable advice. This could involve creating algorithms that consider an individual's medical history, lifestyle, and personal goals to generate specific recommendations for improving their health and well-being. The technology could also incorporate behavioral science principles to nudge individuals towards healthier choices and provide support in overcoming barriers to behavior change.

"

[1128.15] Eye on Tech_What is GPT-4o_ _In About A Minute_.txt

Eye on Tech

What is GPT-4o? (In About A Minute)

"**-BUSINESS LEARNING- 1: GPT-40's Advanced Capabilities**

At 0m 4s - [YouTube Link:

GPT-40, the latest large language model from OpenAI, represents a significant leap forward from its predecessor, GPT-4. While GPT-4 broke new ground with its ability to process text, GPT-40 expands on this by incorporating visual input and output capabilities. This means GPT-40 can process and generate content in various forms, including audio, visual, and text.

One of GPT-40's standout features is its impressive speed. With an average response time of 320 milliseconds, it's about five times faster than GPT-4. This speed enhancement, coupled with its advanced capabilities, makes GPT-40 highly efficient for tasks such as real-time verbal conversations and translations.

Beyond its speed, GPT-40 boasts a range of other improvements, including enhanced imaging and audio capabilities, better handling of non-English languages, and support for real-time translation in over 50 languages. This makes it a truly global tool, breaking down language barriers and opening up new possibilities for communication and collaboration.

However, like any powerful AI, safety is a primary concern with GPT-40. OpenAI has implemented advanced safety protocols to mitigate risks and ensure responsible use. These protocols aim to prevent the generation of false or misleading information and promote the ethical use of this technology.

To further enhance safety, OpenAI has collaborated with over 70 experts from various fields to identify and address potential risks associated with GPT-40's multimodal capabilities. This proactive approach to safety underscores OpenAI's commitment to responsible A I development and deployment.

"

[1246.41] Techstars_Techstars Boulder 20th Demo Day Sizzle Reel.txt

Techstars

Techstars Boulder 20th Demo Day Sizzle Reel

"**-BUSINESS LEARNING- 1: The Value of Humility and Curiosity for Founders**

At 0m 3s - [YouTube Link:

There's a common misconception that business founders and CEOs need to have all the answers. In reality, the most successful founders possess a strong will to achieve and build great things, coupled with personal humility. This combination of ambition and a willingness to learn creates a powerful recipe for meaningful success.

**-BUSINESS LEARNING- 2: Building a Supportive Community for Founders**

At 0m 45s - [YouTube Link:

Being a founder can be a lonely experience. Techstars Boulder provides a supportive community where founders can connect, share experiences, and learn from each other. The program emphasizes the importance of both personal and professional growth, creating a balanced and joyful journey. This sense of community extends beyond the program, as founders form lasting bonds and continue to support each other's ventures.

**-BUSINESS LEARNING- 3: The Power of a Structured Program for Startup Growth**

At 2m 17s - [YouTube Link:

Techstars Boulder offers a structured program that provides founders with the cadence and consistency needed to drive startup growth. The program's weekly structure helps founders stay grounded and focused, fostering a culture of continuous innovation. Participants consistently push each other to raise the bar, creating an environment of rapid progress.

**-BUSINESS LEARNING- 4: The Benefits of Mentorship and a "Give First" Attitude**

At 3m 38s - [YouTube Link:

Mentorship plays a crucial role in Techstars Boulder, with mentors offering valuable insights and guidance based on their own startup experiences. The program's emphasis on a "give first" attitude fosters a collaborative environment where founders openly share their knowledge and support each other's successes.

**-BUSINESS LEARNING- 5: The Lasting Impact of the Techstars Experience**

At 4m 26s - [YouTube Link:

Techstars Boulder provides founders with a safe and supportive space to navigate the challenges of building a business. The program leaves a lasting legacy, fostering a strong sense of community and creating lasting memories that continue to inspire and motivate founders long after their time in the program.

"

[1380.03] Startups for the Rest of Us_Episode 719 _ How to Test Pricing, Lifetime Deals, and Building S....txt

Startups for the Rest of Us

Episode 719 | How to Test Pricing, Lifetime Deals, and Building S...

"-BUSINESS LEARNING- 1: Testing Pricing

At 1m 0s - [YouTube Link:

Testing pricing for a new product is a crucial aspect of launching a successful business. There are several ways to approach this challenge, depending on the type of sales funnel you have.

For low-touch funnels, a simple yet effective method is the "poor person's split test." This involves directly changing the pricing on your website and monitoring the impact on your conversion rate over time. While not the most scientific approach, it can be insightful if you have a consistent flow of traffic and a good understanding of your historical conversion data.

On the other hand, high-touch sales environments with demo calls and procurement processes offer more flexibility. One option is to remove pricing from your website entirely and encourage prospects to contact your sales team. This allows you to test different price points during sales calls and gauge customer reactions. You can start by quoting higher prices and observe if customers balk or remain receptive. This direct feedback loop enables you to find the optimal pricing that aligns with your value proposition without publicly committing to a specific number.

Remember, testing pricing is an iterative process. Collect data, observe customer behavior, and don't be afraid to make adjustments based on the insights you gather.

-BUSINESS LEARNING- 2: One-Time Payments: Proceed with Caution

At 8m 13s - [YouTube Link:

While the allure of one-time payments, especially lifetime deals, can be tempting for budding entrepreneurs, it's essential to approach this model with caution. This approach poses inherent challenges, particularly for SaaS businesses, that can significantly impact long-term sustainability and growth.

The primary concern with one-time payments lies in the mismatch between revenue collection and ongoing service provision. Unlike recurring revenue models, one-time payments provide an initial influx of capital but no guarantee of future income. This can create a precarious situation where you're obligated to maintain and support a product for years using funds received upfront, potentially leading to financial strain if not managed meticulously.

Moreover, one-time payments, particularly those priced extremely low, risk positioning your product as a commodity competing solely on price rather than value. While this might generate initial interest and customer acquisition, it can be detrimental in the long run.

Therefore, while not entirely out of the question, one-time payments should be approached with significant caution. It's crucial to thoroughly assess the long-term implications, particularly regarding your financial model and product positioning, before embracing this approach.

-BUSINESS LEARNING- 3: Building for Acquisition vs. Retention

At 15m 7s - [YouTube Link:

When building a product, it's tempting to cater to everyone and include a wide array of features. However, this approach can be detrimental to long-term success.

Targeting a broad audience with a diverse set of features might initially drive customer acquisition, but it often comes at the expense of retention. A product with "something for everyone" risks lacking the depth and focus required to truly satisfy and retain a specific customer segment.

Conversely, concentrating on building "everything for someone" - your ideal customer profile (ICP) - fosters stronger retention. By deeply understanding your ICP's needs and pain points, you can tailor your product to deliver exceptional value, leading to increased customer satisfaction and loyalty.

While expanding to multiple ICPs is possible as your business grows, it's crucial to begin with a laser focus on a single, well-defined segment. This allows you to refine your product and messaging, maximizing retention and building a solid foundation for future expansion. Remember, acquiring customers is only half the battle; keeping them engaged and satisfied is what drives sustainable growth.

"

[1615.35] Michia Rohrssen_Reach out shamelessly and frequently.txt

Michia Rohrssen

Reach out shamelessly and frequently

"**-BUSINESS LEARNING- 1: Finding Mentors**

At 0m 0s - [YouTube Link:

To find mentors, be proactive and reach out to people you admire, even if it means cold emailing or messaging them. Share your backstory, your current projects, and what you're hoping to achieve. Instead of asking for help directly, offer something in return, like buying them lunch or coffee. Focus on connecting with individuals who are already actively working in your desired field. Be persistent and don't be afraid of rejection. Keep in mind that it may take multiple attempts to find mentors who are a good fit for you.

"

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit startupideasagent.substack.com