565: Noah Kagan - The Art of Asking For What You Want, Launching a Business, Handling Rejection, Working For Mark Zuckerberg, and Not Living a 'What-If' Life
Entrepreneur and former employee of Mark Zuckerberg, Noah Kagan, shares his insights on the art of asking, launching a business, handling rejection, and not living a 'what-if' life. He emphasizes the importance of focusing on one big goal and shares his philosophy on interviewing. The podcast also discusses the Million Dollar Weekend process for launching a business and achieving financial independence.
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Quick takeaways
Having a clear goal and focusing relentlessly on reaching it is crucial for success in a business.
Fearlessness, persistence, and the power of asking are key attributes for achieving success.
Overcoming fear, embracing new ideas, and persisting in the pursuit of dreams can lead to personal growth and success.
Deep dives
Noah Kagan's Entrepreneurial Mindset and Lessons from Facebook
Noah Kagan, Chief Sumo at AppSumo.com, and former 30th employee at Facebook, discusses how his experience at Facebook influenced his entrepreneurial mindset and subsequent ventures. He emphasizes the value of having a clear goal and focusing on one singular goal for success in a business. Noah also highlights the importance of rejection and the willingness to ask for what you want. He shares personal anecdotes and insights about overcoming fear, persistence, and the power of asking.
Lessons Learned from Family and Upbringing
Noah Kagan reflects on the influence that his parents and stepfather had on his entrepreneurial journey. He discusses how his biological father's fearlessness and rejection goals inspired him to ask for what he wants. Noah also credits his mother's discipline and persistence as valuable lessons in following through with goals. He shares personal stories that shaped his mindset and motivated him to pursue a career that aligns with his passions.
The Importance of Taking a Chance on Yourself
Noah Kagan encourages listeners to take a chance on themselves and embrace the possibility of achieving their dreams. He discusses the fear of failure and the limitations people place on themselves. Noah stresses the importance of believing in what is possible, and how exposure to new ideas and perspectives can open doors to personal growth and success. He concludes by highlighting the accessibility of creating the life one wants and the importance of persisting in the pursuit of one's dreams.
Balancing Outcome-Based Goals and Process-Oriented Goals
Noah Kagan shares insights on goal-setting and balancing outcome-based goals with process-oriented goals. He emphasizes the value of setting clear, measurable goals with deadlines. Noah also discusses the significance of focusing on the inputs and controllable actions that lead to desired outcomes. He provides examples from his own businesses, highlighting the importance of finding what works and continually improving and iterating on the process.
The Million Dollar Weekend Process
The podcast discusses the concept of the 'million dollar weekend process' which is a surprisingly simple way to launch a seven-figure business in just 48 hours. The process consists of three sections: starting, building, and growing. In the starting phase, it's important to overcome fear and get the idea off the ground, even while continuing to work a full-time job. The building phase involves finding a profitable idea and validating it through market research. The growing phase focuses on social media strategies, customer acquisition, and creating a consistent customer experience. It emphasizes the importance of focusing on one goal and developing systems to achieve it.
Overcoming Fear and Asking for Things
The podcast emphasizes the power of overcoming fear and the value of asking for things. It highlights the story of a golf enthusiast who had an idea for a golf experiences business but was hesitant to start. Through the million dollar weekend process, he gained the confidence to ask potential customers to be part of his business. This simple act of asking resulted in significant progress, as he was able to secure customers and receive deposits within 48 hours, a feat he had not achieved in the previous two years. The podcast encourages listeners to overcome the fear of rejection and leverage the power of asking to unlock opportunities and accelerate business growth.
“Rejection is a test if you really want something. The upside of asking is unlimited.”
"People are afraid of asking. The people who make it happen are willing to ask, be rejected, and keep going."
One of the biggest lessons learned from working with Mark Zuckerberg? Pick one goal. Then focus relentlessly on reaching it. His was 1 billion users on Facebook. This is how Noah has grown App Sumo to $80m in revenue. Focus on one big goal and the system implemented to make it happen.
Noah's parental influence:
Fearlessness - Ask for everything. Set rejection goals. You learn that selling copiers door to door.
His mom is very disciplined. Always working out in the gym. She follows through. She's persistent. She grinds. His mom also hated her job.
"I don't want to live a 'what-if' life"
"Are we getting what we get or are we getting what we want?"
The law of 100 -- Do the thing 100 times before you quit.
Get going, get started. It's about now, not how.
Create an exciting vision: "What are we looking forward to?"
Million Dollar Weekend:
Start it
Build it
Grow it
Noah's philosophy on interviewing:
1) Talk with people you're genuinely interested in
2) Tell them how they’ve positively impacted your life. People love genuine compliments. And they loved to hear that they’ve helped others.
3) Tell them what's in it for them. Create questions that make your guests excited to answer (set them up to tell interesting stories)
Entrepreneurship is not risky. Risky is spending your life at a job you hate, with people you don’t like, working on problems you don’t care about.
Freedom is about gaining control of your schedule. Money is the tool, not the goal.
This trip was one of my highlights of the fall. Nothing like biking across America. So much good time to think and reflect. Reminds me that whenever you’re in a funk, just get moving. (Helps to be surrounded by beautiful landscapes)
The future of big business is small teams. One person. No employees. Everything automated. Solopreneurs are the future.
Acknowledgements:
Adam Gilbert for our bike ride ten-plus years ago where I shared a dream to put my knowledge into a book for other people. And for always always being my guardian angel.
Tahl Raz - I dreamed for years of the chance to work with you on a book. Thank you for taking a chance on me. Somehow you were magically able to take all my adventures/theories/ideas/antics and put them together in a helpful narrative better than I could have ever dreamed. Thank you! Also for being a mutual lover of schvitzing.
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