Jason Cohen

🙏

Exactly.

There you go!

Write specific, personal stuff, to find out who likes it.

Not "if." If you write anything decent, some will like, some will not.

The worst case is no one cares at all. But then, in that case, still might as well just publish.

So, all roads lead to:

Publish.

The Startup Drake Equation Why do smart, driven founders fail, despite having great ideas and execution? This model offers an answer, and a path to increase the chance of success.

Most startups still fail, despite all the advice, insightful ideas, and crazy hard work.

Here is a risk-oriented theory of “why,” and how to improve your chances of success:

Do what you say you are going to do

When a startup fails…

Typically 10-20 things were very broken. Which one(s) “caused" the failure?

In successes, 10-20 things are 𝘢𝘭𝘴𝘰 broken, but it didn't matter.

So, what do we learn from the 10-20 things? Anything?

“A dozen other startups tried this and failed.”

“But this time it’s different!”

Could be! WebVan → Instacart and all that.

But usually, it’s not different.

You must answer: Why specifically did others fail, and why specifically will that not happen this time?

Being extremely reliable is a trait that others notice even if they don’t say so out loud.

Highly prized, both because it is rare and because it is valuable.

It’s something founders rarely are, but hiring people like that can help make the company great.

Selling to Carol: Why targeting an ICP brings 10x more customers than you expected Targeting your “Ideal Customer Profile” (ICP) is the best way to differentiate and win sales, but does it limit your target market?

If you’re having trouble selecting an ICP, one idea is to A/B test in ads/website.

Another is to look at the differences between customers who stay forever and customers who churn quickly.

Early on, you can always change your mind!

When you're at scale you can't turn fast, but you can release a new product and increase ARR by $10M in one month.

Rather than “speed, quality, cost: pick 2”…

My sense is:

• speed vs quality

-and separately-

• deadline vs scope

-and separately-

• turning speed vs scale

Thoughts?

Willingness-to-pay: Creating permanent competitive advantage for the right reasons This fresh take on “Willingness-to-Pay” analyzes three types of customer motivation, leading to superior strategies for growth that also better the world.

The best businesses deliver $4 of value, charges $2, and costs them $1 to do it.

This is what Figma did, and therefore why it was worth 50x ARR.

And why their customers aren’t upset that they’re so profitable.

You can too:

Seek the intersection of what you know to be great in your heart, and what others are excited to engage with.

Too often we optimize only for the latter, producing things we’re not proud of.

Because it’s not genuine, it fails in the long run, and you’re unhappy and empty.

No one can stop you!

True! That can be a strategy also.

Nice.

Indeed!

Yup! A good coach.

If there is a “rest of the story,” you might have a unique strategy, which is ideal. So it’s not bad to pursue that.

What’s bad is to just sit on a bad cancellation rate (or other key metrics) and pretend it’s OK.

(5/5)

The problem with most companies is they have one or more fatal metrics, but they wave it away like it’s OK, either because they don’t want to face the truth, or they invent some reason like “I’m like Shopify.” But you’re not, 𝘶𝘯𝘭𝘦𝘴𝘴 there’s a “rest of the story” that justifies it.

(4/5)

…More like a paid-Freemium.

(3/5)

For example Shopify is objectively a phenomenal business, but their cancellation rate is 7%/mo. That's fatally high… normally. But they have such great NRR for the 50% of the population that stays after the first year, and such enormous new-customer acquisition, that it's actually OK.…

(2/5)

Any metric can be out of whack if the rest of the business model supports it.

(1/5)

Launches sometimes work. It’s often news when they do, so you think they’re a good idea.

It's just: (a) usually they don't work and (b) you need customers every day after and (c) it's a lot of time and energy.

Which makes it usually a waste and a let-down.

In command Being “in control” is impossible, perhaps not even desirable. Being “in command” is ideal: honest, introspective, agile, aware, and proactive.

As the CEO, if you’re constantly answering trivial questions, making little decisions, you have a problem of your own making.

Is it because you're not allowing others to decide? They think they're not empowered?

It's a bad sign and you have to fix it.

We all need a mirror, showing us what we cannot see because we're in the thick of it.

All of us!

What a startup does to you. Or: A celebration of new life A startup is a crucible -- a fiery place that tests your limits, not by probing them but by violently exceeding them, all of the time. It’s worth it.

Whether you're watching your child grow or struggling with your startup, every milestone feels miraculous in the moment, but after a week, routine.

It's about cherishing the journey.

Awesome!

Naked Business: How honesty makes you more money It’s scary to tell the truth, and it is rare to tell the truth in business. That’s why it works.Keynote from Business of Software 2011, yet still applicable…

Yup, I've been saying that for almost 20 years… and also I was guilty of it, so I'm not one to talk, or maybe I am, I'm not sure. 😄