Gumroad Ceo Patreon Substackkonstantinovic On How To Succeed In Your Own First 10 Years
This article lists 10 tips that the Gumroad CEO, Sahil Lavingia, used to see the company’s success. In it, he shares insights on how to grow your career and do what you love–namely staying hungry, defining “tough choices”, and rising to meet challenges.
1. Have A Revenue Goal
As the CEO of Gumroad, Sahil Lavingia knows a thing or two about what it takes to be successful in your first years. In a recent blog post, he shared some of his best advice for those starting out.
One of the most important pieces of advice he had was to make sure you have a revenue goal. It’s not enough to just have a goal for your business; you need to know how much money you want to bring in.
Think about what you need to live on and then set a realistic goal for your first year. This will help you stay focused and motivated as you work towards success.
2. Start Growing Early
In order to set yourself up for success in your early years, it is important to start growing early on. This means taking the time to develop a clear and concise business plan, as well as working on building a strong team of individuals who can help you achieve your goals. Additionally, it is crucial to focus on creating a positive company culture from the start – this will attract top talent and help retain employees in the long run. Finally, don’t be afraid to invest in marketing and PR – getting your name out there is an essential part of growing a successful business.
3. Get Feedback From Your Users
If you’re running your own business, it’s important to get feedback from your users in order to improve your products or services. Here are some tips from Gumroad’s CEO on how to do just that:
Make it easy for users to give feedback.
Make sure there’s a simple way for users to provide feedback, whether it’s through an online form, email, or even a phone number. The easier it is for them, the more likely they are to actually take the time to do it.
Ask specific questions.
Don’t just ask “how was your experience?” but rather drill down and ask specific questions about what they liked and didn’t like. This will give you more actionable information that you can use to improve your business.
Follow up with users who leave feedback.
Whether it’s positive or negative, follow up with the user who left the feedback to thank them for their time and let them know what actions you’re taking as a result of their input. This shows that you’re taking their feedback seriously and value their input.
Spread Your Risk Across Multiple Industries
As an entrepreneur, it’s important to remember that you can’t put all your eggs in one basket. Diversifying your portfolio across multiple industries is a smart way to mitigate risk and ensure that your business can weather any storm.
Of course, this doesn’t mean that you should invest in every industry under the sun. Instead, take the time to research different sectors and look for opportunities where you think you can make a real impact.
Once you’ve identified a few potential industries, it’s time to start spreading your risk. One way to do this is by investing in multiple companies within each sector. This will give you a better chance of seeing success even if one particular industry takes a hit.
Another approach is to invest in different types of businesses within each industry. For example, if you’re interested in the healthcare sector, you could invest in both medical technology companies and pharmaceuticals firms.
No matter which strategy you choose, remember that diversity is key when it comes to mitigating risk. By spreading your investments across multiple industries, you’ll be positioning yourself for long-term success.
Staking Your Claim To A Niche Spaces Is Important
As Gumroad’s CEO, Sahil Lavingia, knows a thing or two about building a successful business from the ground up. In a recent interview, he offered some helpful tips for anyone hoping to do the same in their own first years. Among them was the importance of staking your claim to a niche space.
“If you’re starting a business today, it’s more important than ever to have a very clear focus,” Lavingia said. “There are so many options and distractions out there that it’s easy to get pulled in different directions. But if you can stay focused on your niche, it’ll be much easier to find success.”
It can be tempting to try and be everything to everyone, but as Lavingia points out, that’s rarely a recipe for success. It’s much better to focus on serving a specific group of people with an offering that meets their needs in a unique way. When you’re able to do that, you’ll not only stand out from the competition, but you’ll also be far more likely to build a sustainable and successful business.
Create Something Scarce
As Gumroad’s CEO, Sahil Lavingia knows a thing or two about building a successful business. In this blog article, he shares his top tips for anyone starting out in their own business. One key piece of advice is to create something scarce.
When you’re first starting out, it’s easy to feel like you need to be everywhere and do everything. But the truth is, you can’t be everything to everyone. You need to focus your attention on creating something unique and special that people can’t find anywhere else.
Think about what it is that makes your business different from all the others out there. What can you offer that no one else can? Once you’ve identified your unique selling point, make sure it’s prominently featured on your website and in all your marketing materials.
If you can create something truly scarce, you’ll have a much better chance of attracting attention and succeeding in your first years in business.
Rarely Compete For The Same Customers
If you’re starting a business, it’s important toremember that you won’t always be competing for the same customers. In fact, it’s quite rare for two businesses to be in direct competition with each other.
There are a few reasons for this:
1. There are always different niches within any market. Even if two businesses appear to be selling the same thing, there will always be some subtle (or not so subtle) difference that makes each business appealing to different types of customers.
2. Customers rarely make purchasing decisions based solely on price. Sure, price is always a factor, but it’s rarely the only factor. More often than not, customers will choose the business that offers the best combination of price, quality, and service.
3.Even if two businesses are in direct competition with each other, they seldom have an identical customer base. This is because every customer is unique and has their own individual needs and wants. As a result, even if two businesses are selling the exact same product or service, they’ll still appeal to different types of customers.
So if you’re just starting out, don’t worry too much about competition. Remember that there’s always room for another player in any marketplace – as long as you’re offering something slightly different than what’s already out there
Know Who Your Competition Is
Your competition is anyone who is offering a product or service that is similar to yours. This means that you need to research your industry and find out who your target market is. Once you know who your target market is, you can start to identify your competition.
There are a few different ways that you can research your competition. One way is to search online for industry specific forums and see who is talking about your topic. Another way is to attend industry events and meet people in person. You can also read trade publications to learn more about your industry.
Once you have identified your competition, you need to take some time to research their businesses. Find out what they are doing well and what they could improve upon. This information will help you create a marketing plan that will make your business stand out from the crowd.
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You are instantly suspended by a Twitter bug when you tweet “Memphis”
According to a glitch on Twitter, if a person tweets the phrase “Memphis,” their account will be temporarily terminated, according to BleepingComputer.
This problem first appeared today when users who were tweeting about Memphis, Tennessee, sports teams, or athletes noticed that they were suddenly suspended for a period of 12 hours.
Even while some claim that Twitter’s flaw has been fixed, a recent test by BleepingComputer shows that we were immediately suspended when we tweeted the term “Memphis.”
While it may seem like Twitter is trying to ban the great city of Mephis, this is probably the result of a spam, bot, or fraud filter that has been set up incorrectly.
Despite not disclosing the precise cause of the bug, Twitter has now addressed it.
Twitter issued a comment to BleepingComputer stating that “the situation stated was the consequence of a bug, and has subsequently been rectified.”
In our tests, in order to regain access to the account if you were impacted by the bug, you had to complete a captcha and verification process. It will welcome you back as a “person” once you have verified your account.
This suggests that a malfunctioning anti-bot filter was probably to blame for the bug.
SPANISH DELIVERY APP GLOVO RAISES $121M FROM SWISS REAL ESTATE FIRM STONEWEG TO BUILD OUT DELIVERY-ONLY CONVENIENCE STORES FOR SUB-30 MINUTE DELIVERY TIMES (MACARENA MUNOZ MONTIJANO/BLOOMBERG)
Macarena Munoz Montijano / Bloomberg:
Spanish delivery app Glovo raises $121M from Swiss real estate firm Stoneweg to build out delivery-only convenience stores for sub-30 minute delivery times — – Stoneweg will build, refurbish property to help Glovo expand — Glovo’s orders for convenience items have surged 300%
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