Noah Kagan, founder of AppSumo and author of Million Dollar Weekend, shares insights on how to launch a million-dollar business in just a weekend. He reveals the common fears that hold aspiring entrepreneurs back and provides practical strategies to overcome them. Kagan emphasizes the importance of finding your first customers and offers effective methods for validating business ideas. Listeners are encouraged to take immediate action and embrace a mindset of experimentation, highlighting that success is possible with the right approach.
Take immediate action and overcome the fear of starting and asking to launch a business within 48 hours.
Validate business ideas by reaching out to potential customers and securing pre-orders or commitments.
Leverage personal networks and contacts to find initial customers and focus on what works while experimenting with different marketing strategies to grow the business.
Deep dives
Starting a Business in 48 Hours
In the podcast episode, Noah Cagan shares his process for starting a business within 48 hours. He emphasizes the importance of taking action and overcoming the fear of starting and asking. Cagan suggests validating business ideas by reaching out to potential customers and getting pre-orders or commitments. He recommends leveraging personal networks and contacts to find initial customers. Once the business is launched, Cagan advises focusing on doing more of what works, doubling down on successful marketing channels, and continually experimenting with new strategies.
The Power of Now, Not How
Cagan encourages listeners to adopt a mindset of 'Now, not How' when it comes to starting a business. Rather than getting caught up in planning and overthinking, he urges aspiring entrepreneurs to take immediate action. By focusing on the present and getting started, individuals can learn and adjust along the way. Cagan emphasizes the importance of getting comfortable with asking for what you want, as sales and the ability to ask for opportunities are crucial skills in business. He suggests developing the 'asking muscle' through small challenges like requesting a discount at a coffee shop.
Scaling a Business and Finding Customers
To grow a business and attract more customers, Cagan advises leveraging existing networks and contacts. He emphasizes the value of happy customers in driving referrals and word-of-mouth marketing. Additionally, he suggests prioritizing marketing efforts based on impact and experimenting with different channels to find what works best. Cagan highlights the power of doing more of what already works and doubling down on successful marketing strategies. He also stresses the importance of collecting emails to build a direct and stable sales funnel.
Identifying and Solving Personal Problems
The podcast episode discusses the importance of identifying and solving personal problems as a way to find business opportunities. The speaker suggests breaking down the day into morning, afternoon, and night to identify what is bothering or could be improved. Examples include finishing a painting on the ground and considering food delivery for lunch. By addressing these personal problems, it becomes possible to identify potential business ideas and solutions that can benefit not only oneself but also others.
Validating Business Ideas
The podcast episode explores the process of validating business ideas to ensure they can generate income. The speaker emphasizes the need to assess market trends and determine the potential for growth. Different methods of validation are discussed, including pre-ordering, leveraging marketplaces, and using landing pages and ads. The importance of creating a product or service that people want is highlighted, along with the significance of building an email list to connect with potential customers and receive feedback. The episode concludes by encouraging listeners to take action and start pursuing their business ideas with confidence.
Have you always wanted to be an entrepreneur but don’t have an idea for a business? Or have you been sitting on a business idea for years but have never gotten going with it?
Well, after listening to this podcast and by the end of this weekend, you can have a business started that could ultimately make you a million bucks.
Here to walk you through the process of becoming a near-overnight entrepreneur is Noah Kagan. Kagan is the founder of AppSumo, a software deals site, and half a dozen other multi-million-dollar businesses, as well as the author of Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours. Today on the show, Noah and I first discuss the two biggest obstacles that hold people back from starting a business and how to overcome them. We then turn to the practicalities of coming up with and vetting a business idea, how to find your first customers, and how to keep growing from there. Along the way, Noah and I share insights into how we turned AppSumo and Art of Manliness, respectively, from side hustles into rewarding careers.
