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A 21-year-old follower just DMed me asking how to start his first business. Here's the foolproof, step-by-step blueprint I've used for all my companies: (that makes me $806,730 per month)
Before we start... There are 3 huge trends shaping entrepreneurship right now: • Brands are becoming founder-led • Niche communities are dominating all platforms • Every modern brand is morphing into a media company Once you understand this, everything becomes easier.
Now, picture the finish line: what does business success ACTUALLY look like? Do you want to start the next SpaceX? Or do you want the freedom to do whatever you want, whenever you want? For me it's the latter. And here's how I'd do it:
Define Your Must-Haves Over the years, I've come up with personal criteria that every potential business I start must fulfill. Things like: it feels like play (not work), a clear path to $5M/year revenue, loving the problem/customers, etc... Introspect and find yours.
Score New Ideas Next, run each idea through a filtering system. I score the opportunity from 1-10 against all 11 of my criteria on a document I call the Next Move Matrix (see below). Numbers never lie: harness them to imprint rationality on otherwise emotional decisions.
Easy Mode Business Models Then, choose a model that doesn't require much capital/effort to get going. These easy-mode models include digital info products, subscription services with recurring revenue, and platform businesses. Build scale and leverage: not another job.
Personal Brand Attention is the new oil. Your personal brand is the pipeline. Share your REAL journey including both wins and failures. Build authority and trust with content people want to consume. People trust people over faceless companies.
Your Founder Flywheel Nathan Barry, founder of ConvertKit, defines three flywheel laws: 1. Activities in flywheels flow from one into the next 2. Each rotation of the flywheel is easier than the last 3. Each rotation produces more than the previous rotation The point?
Once you focus on flywheels, the impact of your work 10x's. As founders, we want every action to multiply. We want there to be a compounding effect on everything we do. Here's what it looks like at Founder OS - each part of our biz augments another:
Architect Systems Bulletproof systems unlock exponential growth in any business. Your sales process, marketing campaigns, and daily operations - anything you do more than once - should be systematized. Automate, eliminate, delegate: routine repetition builds the castle.
Surround Yourself With Weapons A-Players hire A-Plus-Players. B-Players hire C-players. In other words: hire people smarter than you, set them up for success, then leave them the f*ck alone. Who you do something with > what you do.
Your Purpose Every so often, reflect on your 'why'. Your deeper purpose and the change you want to see in the world push you through adversity. Outsized success lies in unearthing your Ikigai.