One of the most important skills of an entrepreneur is knowing when to focus on specific initiatives
In a growing biz, there are always so many things to get done - you must prioritize those initiatives based on their:
1) impact
2) speed
3) resources required
4) risk of defocus
You’re not “leaving money on the table” you’re ignoring the short money for the long money by focusing on the one thing that matters most and ignoring the rest.
Elon Musk’s first wife explains what it takes to become a billionaire:
She posted a response to a Quora thread asking the question “Will I become a billionaire if I am determined to be one and put in all the necessary work required?”
Her answer is “no,” though she says that the
Jony Ive on what Steve Jobs taught him about focus:
“This sounds really simplistic but it still shocks me how few people actually practice this.
It’s a struggle to practice this.
Steve was the most remarkably focused person I ever met in my life.
Focus is not something
It’s increasingly obvious there are two groups of people in the world:
Accountables
People who believe their rewards should be coupled to their effort and outcome.
Unaccountables
Louses who think that their mediocrity should always be rewarded under all circumstances.
If the
Spoke with a FB media buyer today and realized something that is holding back many media buyers in a major way: risk intolerant managers
Let me explain…
My media buyer regularly 3-4xs our spend day over day ($30k -> $120k) and ROAS/CPA holds
It allows us to spend more in 1
It’s astounding how few discussions there are at eCom/Affiliate events about improving LTV
Literally nobody talks about it
Everyone obsesses over acquisition efficiency and all of the tactics that can improve cpa/roas - media buying, creative, etc.
Don’t get me wrong, these
Lots of talk about building “brands”
Do you really have a brand if your revenue would drop to $0 if you turned your ads off?
And no, doing forced rebills doesn’t count
Most guys are simply running offers and acting like they’re brands - while being no more of a brand than an
my meta reps flew out to mykonos for a dinner and i learned two things:
1) the largest spenders ($20m+/mo) within direct response are doing no manual media buying and it is all automated based on first party performance data
when performance is good on any given asset, the
the single most impactful decision we’ve made is to sell consumable products on a subscription model
with the cost of acquisition rising year over year, the only way to sustainably generate free cash flow is to develop brand(s) with strong LTV
not only do subscriptions generate
speed of iteration is the single greatest predictor of success in ecom
offers, creatives, media buying strategies, cro treatments, sales scripts - it doesnt matter
the fastest iterators win
we can test more in 1 week than what most teams can in 2 months
this allows us to move
to those that know me irl:
if i ever post either of these two things, please put a bullet in my head
1) a screenshot of my monthly expenses
2) a photo of my amex cards
going from 8 to 9 figures isn't just about working harder - it’s about adding force multipliers to your brands ecosystem
a force multiplier is anything that increases output without increased input or effort
the most straightforward example of a force multiplier for ecom brands
phone sales is an incredibly under-leveraged strategy in ecommerce that 99% of brand owners will never implement
when i talk about our phone sales team, other brand owners usually ask: "is it really worth the lift?"
absolutely yes - and i'll tell you exactly how to do it