Target the Best Segment, Not Just Cheap Pricing
Should you raise prices? Or use low prices to beat incumbents who have gone upmarket? A: Pick one strategy: (1) cheapest or (2) best for [segment]. If 1, fine. (2 is likely more profitable.) But if incumbent charges $10,000/mo, then raising from $20/mo to $100/mo is smart.
AI Defies Disruption Theory: Startups Must Rethink Strategy
Disruption Theory's been a staple of startup strategy, but it does not apply to AI. Incumbents do not regard AI as “just a toy,” and are not waiting around while startups to disrupt them. So, startups need a new strategy. https://t.co/9zku0mmxLZ
Post‑COVID Memory Span May Shrink to 5±2
You’ve heard the “7 ± 2” rule probably -- we can keep about 7 things in mind, like 7 digits of a phone number. Post-COVID, I wonder whether the new rule is “5 ± 2.” What do you think? https://t.co/kk4URv2dtm
Founders Must Use Vesting and One‑Year Cliff
Founders should have vesting shares like everyone else. With a one-year cliff for early folks that don’t work out, which is extremely common; the more founders, the more common. Yes you should make that legal before you start. Always.
Identify and Fix Tech Debt to Boost Happiness
RE tech debt: Is _____ slowing us down, whether because it's hard to change, risky to change, or we keep fixing bugs there? If yes, addressing it soon will boost team happiness and performance. Otherwise, maybe it’s best to keep that loan outstanding. https://t.co/UJrgWx9kEr
Likes Don't Equal Sales: Separate Launch Strategy Required
Just because people are liking your tweets (or whatever they are) doesn’t mean they will buy your product when you launch. A launch plan is completely different. I didn’t realize this at first: https://t.co/gJaBCH5BWr
Selling a Startup Redefines Identity, Not Just Business
Selling a startup isn’t just a business transaction. It’s a change of identity. And it can crush people, even if it was the right thing to do. More: https://t.co/p4XhQRkxs1
Prioritize Internal Strengths, Borrow External Best Practices
For differentiation look inward -- what can 𝘺𝘰𝘶 do ; what do 𝘺𝘰𝘶 have. For everything else you can look outward -- what are the so-called "best practices" you can just steal? All is needed to create a full organization, but spend...
Cumulative Effort Drives Future Sales, Not Single Moments
The next customer will buy because of the sum total of all the work you’ve done until now. Whether you work today for 10 hours or 1. So, not every second has to be packed. But most of them do, so that you...
Efficiency Means Trimming Nonessential Tasks, Not Passion Projects
Often we act as if “efficiency” means minimizing all types of work. It is, for work that needs to be done but isn’t key to your winning, or fun for you. Like paying taxes. But don’t minimize work you love, or that...
Give Value First: Reciprocity Boosts Sales Across Industries
You sell more books if you give away its secrets during the podcast interview. You sell more designs if you give away a design system. You sell more security services if you find vulnerabilities and tell the vendor. Reciprocity works.
Ruthless Prioritization: Deleted Feature Requests Mostly Stay Gone
Deleted a feature request from the backlog, only to add it back a month later? That’s not a mistake -- that’s a sign we're prioritizing ruthlessly. Almost all WON’T return, proving that overall this was wise. More: https://t.co/UJrgWx9kEr
Leverage Strengths, Sidestep Most Weaknesses, Fix only Few
We are a mixture of strengths we're proud of and weaknesses we wish we didn't have. Conclusion is obvious but difficult to execute: To build careers/products that leverage our strengths and avoid rather than "fix" most weaknesses. Then fix just a few.
Curiosity Unlocks Openness to Being Wrong
What helps someone be open to being wrong? Curiosity. If you have it, it's pretty obvious even in casual conversation, so you can also ID it in people. Adopt it yourself, to be smarter. And hire accordingly.
Hire Right, Fire Quickly: Stop Punishing Innocents
“Fire fast.” Yes; if firing is necessary, dragging it out is worse -- for that person, the team, and yourself. But, if you’re hiring and firing fast a lot, that means you’re bad at hiring, and you 𝘩𝘢𝘷𝘦 to fix it. You’re punishing...