It’s supposed to be hard, and you’re supposed to do it anyway....
Codie Sanchez@Codie_Sanchez
56 views
Jan 28, 2024
1
It’s supposed to be hard, and you’re supposed to do it anyway.
Luckily, you learn things along the way that make it easier… So steal my homework.
Lessons building an 8-figure business:
Luckily, you learn things along the way that make it easier… So steal my homework.
Lessons building an 8-figure business:
2
• Always have a North Star
“If you want to build a ship, don’t drum up the men to gather wood and give orders. Teach them to yearn for the vast and endless sea.”
– Antoine de Saint-Exupéry
“If you want to build a ship, don’t drum up the men to gather wood and give orders. Teach them to yearn for the vast and endless sea.”
– Antoine de Saint-Exupéry
3
When I was struggling with my biz, I sat with Donald Park to word-vomit my problems.
He said something so wise yet so simple:
“You’ve listed much but have a single problem that ties them all. You don’t know where you are going, so neither does your team. Find your North Star.”
He said something so wise yet so simple:
“You’ve listed much but have a single problem that ties them all. You don’t know where you are going, so neither does your team. Find your North Star.”
4
Emails were my North Star.
Everything else would come together if we kept growing our owned audience list.
So I bought a counter sign and every time we got a new email, the sign ticked up.
100,997... 100,998... 100,999... 101,000...
Everything else would come together if we kept growing our owned audience list.
So I bought a counter sign and every time we got a new email, the sign ticked up.
100,997... 100,998... 100,999... 101,000...
5
- I sent one to all my executives
- Every call began with our email number
- Every day we had a Slack auto-update
And wouldn’t you know it? Emails started to climb higher and higher.
The team rows a hell of a lot faster if they’re all going the same way.
- Every call began with our email number
- Every day we had a Slack auto-update
And wouldn’t you know it? Emails started to climb higher and higher.
The team rows a hell of a lot faster if they’re all going the same way.
6
• Day 1 Mentality
Jeff Bezos in his 1998 shareholder letter:
“This is Day 1 for the internet and, if we execute well, for Amazon.”
Then he signed off every shareholder letter with: “It remains Day 1”
What does Day 1 mean?
Jeff Bezos in his 1998 shareholder letter:
“This is Day 1 for the internet and, if we execute well, for Amazon.”
Then he signed off every shareholder letter with: “It remains Day 1”
What does Day 1 mean?
7
Approaching everything with the energy & attitude of the 1st day in a small company.
Opposed to Day 2, which he describes as:
“Stasis. Followed by irrelevance. Followed by excruciating, painful decline. Followed by death.”
Opposed to Day 2, which he describes as:
“Stasis. Followed by irrelevance. Followed by excruciating, painful decline. Followed by death.”
8
• Know your hero AND your villain.
You hear a lot about your customer avatar, your hero.
But a movie is only as good as its villain…
You hear a lot about your customer avatar, your hero.
But a movie is only as good as its villain…
9
There’s a reason why Apple’s 1984 commercial is one of the best of all time (forgiving the 80s-ness of the graphics)
It picks a villain – sameness, Big Brother.
Apple’s next villain was Dell.
Now? They’ve outgrown their villains – and so passed their innovation golden years.
It picks a villain – sameness, Big Brother.
Apple’s next villain was Dell.
Now? They’ve outgrown their villains – and so passed their innovation golden years.
10
1. Type 1 vs Type 2 Decisions
Another Bezos-ism I keep returning to…
“I often find myself at Amazon acting as the chief slowdown officer. … Because [some decisions are] highly consequential and irreversible. Most decisions aren’t like that. Most decisions are two-way doors.”
Another Bezos-ism I keep returning to…
“I often find myself at Amazon acting as the chief slowdown officer. … Because [some decisions are] highly consequential and irreversible. Most decisions aren’t like that. Most decisions are two-way doors.”
11
Type 1: inconsequential and reversible. These are delegated to empowered individuals or teams.
Type 2: decisions with major, irreversible consequences. There go through a rigorous decision-making process at the highest level.
Type 2: decisions with major, irreversible consequences. There go through a rigorous decision-making process at the highest level.
12
Heading into this year, I hope you found this as helpful as I have.
Follow me @Codie_Sanchez for more, and repost here for others to see:
Follow me @Codie_Sanchez for more, and repost here for others to see:
View Tweet
13
If you want a more in-depth reflection on my businesses this year..
Read my annual investment letter here:
contrarianthinking.co/our-2023-annua…
Read my annual investment letter here:
contrarianthinking.co/our-2023-annua…