Noah Kagan is a CEO at AppSumo ($80M+/year) where solopreneurs start and SaaS businesses become Sumo-sized. He is a YouTuber guiding 1M+ subscribers toward financial freedom. He is a former employee #30 at Facebook and #4 at Mint.com.
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Guest Resource
Million Dollar Weekend – Check out and get your free chapter of Noah’s Million Dollar Weekend book today!
3 Value Bombs
1) Success is not solely about looks or physical ability; it is universally attainable. With just 48 hours, anyone can potentially change their life through business.
2) Believe in your ability to create a fulfilling life.
3) Ensure that what you offer is something people truly want.
Sponsors
HubSpot: Starting your year off strong and accomplishing goals like increasing revenue and faster growth starts with the right selling tools. And for that, there’s the all new Sales Hub from HubSpot! Head to HubSpot.com/sales to try it for free!
FranBridge: Many EOFire listeners have launched franchises in a variety of industries outside of food – and FranBridge Consulting has guided them to these premier opportunities! Sign up for a free consultation with Jon – or get a free copy of his book, “Non-Food Franchising” – at FranBridgeConsulting.com!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: How Anyone Can Develop The Mindset Of A Million Dollar Entrepreneur with Noah Kagan
[1:46] – Noah shares something he believes about becoming successful that most people disagree with.
- He believes that success is not solely about looks or physical ability; it is universally attainable. With just 48 hours, anyone can potentially change their life through business.
[3:44] – What are the two huge things that hold every entrepreneur back from success, and how can you fix them?
- Believe in your ability to create a fulfilling life.
- Envision where you want to be and take small steps.
- Begin by taking action.
- As Mackenzie did by selling greeting cards, aim to make $1 or $100 within 48 hours to validate your idea.
- Develop the skill of asking for what you want and need.
- As demonstrated by Pat, who grew his YouTube consulting agency by simply reaching out and asking for opportunities, and practice by attempting small challenges like asking for a discount at a coffee shop.
- Begin by taking action.
[9:59] – How do you make time to run a $80M+ business, a YouTube channel, and a blog while traveling, working out, and having fun?
- During Noah’s book tour challenges, he surprisingly fulfilled and financially thriving, debunking the notion that success means ceasing work after wealth acquisition. He is deeply engaged in activities he loves, such as podcasts, books, restaurants, or health coaching ventures, which are accessible to all.
- To replicate his success, focus on one business endeavor rather than spreading efforts across multiple fronts.
- For instance, his success with AppSumo, offering sought-after software deals for entrepreneurs, emphasizes the importance of perseverance and finding a niche.
- Setting clear, singular goals with timelines, inspired by Zuckerberg’s approach, streamlines efforts and clarifies priorities across ventures.
- A key strategy involves hiring dedicated CEOs for each project, fostering accountability and specialization. Like Amazon’s diverse CEO structure, each business entity benefits from focused leadership. Establishing simple, objective scorecards like Alana’s facilitates clear expectations and progress tracking, enabling effective delegation and alignment with overarching goals.
[13:56] – A timeout to thank our sponsors!
- HubSpot: Starting your year off strong and accomplishing goals like increasing revenue and faster growth starts with the right selling tools. And for that, there’s the all new Sales Hub from HubSpot! Head to HubSpot.com/sales to try it for free!
- FranBridge: Many EOFire listeners have launched franchises in a variety of industries outside of food – and FranBridge Consulting has guided them to these premier opportunities! Sign up for a free consultation with Jon – or get a free copy of his book, “Non-Food Franchising” – at FranBridgeConsulting.com!
[17:24] – What did you learn from interviewing billionaires worldwide that no one else can access?
- Noah found immense joy in content creation, primarily through his long-standing blog, celebrating its 24th anniversary.
- One highlight has been interviewing older individuals about their business regrets, which has resonated strongly with audiences and led him to focus much of his YouTube content on interviewing billionaires.
- These billionaires share a common trait: they capitalized on non-obvious trends that eventually became billion-dollar opportunities.
- For instance, John Paul DeJoria’s success with Patron tequila underscores the importance of identifying problems you’re passionate about solving and leveraging tools like Google Trends to gauge market potential.
- Longevity and consistency are undervalued in entrepreneurship.
- The “law of 100” advocates doing something a hundred times to gauge its true potential. While becoming a billionaire often takes decades of sustained effort, many billionaires struggle to find contentment, emphasizing the importance of balance and fulfillment beyond monetary success.
- Noah’s realization led him to prioritize living a balanced life over the relentless pursuit of wealth, exemplified by his retreats to Spain to savor life outside work.
[22:37] – What must you do, and what has to change if you love to scale a business from $0 – $1M to over $1M and beyond?
- Ensure that what you offer is something people truly want. Many focus on marketing without addressing the fundamental issue of providing something people do not need. It is about finding a genuine demand rather than just creating something.
- Noah once tried to start a business promoting ergonomic home setups during COVID. Despite his efforts, people were not interested.
- Contrastingly, when he explored creating a DocuSign alternative, he pre-sold the idea and received strong validation.
- This approach helps validate demand before investing time and resources.
- Aim for markets with significant potential rather than small opportunities.
- To illustrate, imagine Claire charges $140 for a service. To make a million dollars, she’d need over 7,000 clients. However, she can tap into more significant revenue streams by scaling her business with assistants and expanding her offerings.
- Persist with what works. Many overlook the simple strategies that bring success. Whether directly messaging potential customers or hiring assistants, consistency is vital.
- By sticking to practical methods and scaling wisely, you can grow your business sustainably.
[29:27] – Noah gives his call to action.
- Noah Kagan – Check out and get your free chapter of Noah’s Million Dollar Weekend book today!
[29:45] – Thank you to our Sponsors!
- HubSpot: Starting your year off strong and accomplishing goals like increasing revenue and faster growth starts with the right selling tools. And for that, there’s the all new Sales Hub from HubSpot! Head to HubSpot.com/sales to try it for free!
- FranBridge: Many EOFire listeners have launched franchises in a variety of industries outside of food – and FranBridge Consulting has guided them to these premier opportunities! Sign up for a free consultation with Jon – or get a free copy of his book, “Non-Food Franchising” – at FranBridgeConsulting.com!
Transcript
1 (2s):
Boom, shake the room, Fire Nation. JLD here and welcome to Entrepreneurs on Fire.
HubSpot Podcast Network (7s):
brought to you by the HubSpot Podcast Network, the audio destination for business professionals with great shows like Content is Profits.
1 (15s):
Today we'll be breaking down how anyone can develop the mindset of a million dollar entrepreneur. To drop these value bombs, I brought Noah Kagan into EOFire Studios. Noah is a CEO at AppSumo ($80M+/year) where solopreneurs start and SaaS businesses become Sumo-sized. He is a YouTuber guiding 1M+ subscribers toward financial freedom. He is a former employee #30 at Facebook and #4 at Mint.com. And today Fire Nation, we'll be talking about the two things that hold every entrepreneur back, what billionaires told Noah and the mindset of a super successful entrepreneur, as well as scaling from zero to 1 million, then over 1 million and beyond.
1 (57s):
What do you need to do? What has to change and so much more.
Marketing Made Simple hosted by Dr. JJ Peterson (1m 1s):
And a big thank you for sponsoring today’s episode goes to Noah and ours sponsors Marketing Made Simple hosted by my friend Dr. JJ Peterson, is brought to you by the HubSpot Podcast Network, the audio destination for business professionals. Marketing Made Simple brings you practical tips to make your marketing easy and more importantly make it work. A recent episode on whether vulnerability is a superpower in business is a must listen. Listen to Marketing Made Simple wherever you get your podcasts.
FranBridge Consulting (1m 27s):
Many EOFire listeners have launched non-food franchises and FranBridge Consulting has guided them. FranBridge's founder and frequent EOFire guest, Jon Austinson, has done more placements than any other in the country and his service is free. Sign up for a consultation with Jon or get a free copy of his book Non-Food Franchising at FranBridgeConsulting.com.
1 (1m 50s):
Noah say what's up to Fire Nation and share something that you believe about becoming successful that most people disagree with.
0 (2m 0s):
Fire Nation something that becoming successful that most people disagree with. I'm gonna give you two. I think one that most people don't realize is that anyone can do it. You don't have to be good looking or ridiculously good look good looking like me and you are. I I think that's something people don't realize. Like you don't have to be tall like in sports, you have to have generally abilities that are physical and here universally worldwide available, anyone can be successful in business. Yeah, I think the other thing that people probably don't realize is that you can do it in a very short amount of time. Maybe like Million Dollar Weekend in 48 hours. You can actually change your life in a very quick amount of time.
0 (2m 40s):
People don't realize that as well,
1 (2m 42s):
Which by the way, Fire Nation happens to be the book that Noah will be talking a little bit about today. Million Dollar Weekend. I actually have it right next to me as well. It's beautiful, bright, fluorescent green and something that may or may not be relevant to the conversation. But I think it's important for you to to know Fire Nation. Neither Noah nor myself are wearing a shirt right now.
0 (3m 7s):
Well, you went on Cam. Yeah. You took off your shirt. I did. And I was like, and I'm like, is this not video? There's no video. Yeah. Shirt's free.
1 (3m 12s):
Yeah. To be clear though, I didn't take off my shirt. I never ever have a shirt on in Puerto Rico. I mean my actual, my my parents-in-Law have been here for two months. 'cause you know, we just had our, our Boy, which I told you about pre-interview Bo and literally by after a month, my, my mother-in-Law pulled me aside. She's like, John, do you like literally not figuratively do you literally never wear a shirt? Because she like had not seen me in a shirt for 30 consecutive days. But anyways, we're talking today Foundation about how anyone can develop the mindset of a million dollar Entrepreneur and Noah. There are two, and I wanna count them two huge things that just hold every Entrepreneur back from success.
1 (3m 53s):
What are those two things and how the heck can we fix them?
0 (3m 57s):
God, dude, I love hearing your voice. So like, how cool is it that you're a shirtless millionaire? Maybe that's, that's your follow on book where you can what again, I, you have to believe for the audience out there, these are not even the two, but you have to believe you can live these kinds of lives. Yes
1 (4m 11s):
You
0 (4m 11s):
Can. I don't think people realize that. Write it down like at the end of the year, where would it be cool if I am? And guess what, what can I do right now today, right now to start planting those seeds and making that change? And I don't think people realize that, that, you know, even my own life, like I get to live a half the year in, in Austin, half the year in Spain. I have a crazy house. I have an amazing partner. I never thought I'd deserved it. I never thought it was possible. But then through time you're like, hold, maybe that can come true. And that's true for everyone out there. Now how, what are the two things that people can do? One is they gotta start, and I know that sounds maybe obvious, but most people never become a millionaire because they've never become a dollar in there. I'm like, think about it. How many people, you know John, that listen to the show? They're like, yeah, you know, I've been thinking about this idea.
0 (4m 52s):
It's like, how much, how many customers do you have? None. Okay, let's start. Let's find one today. And they're like, yeah, really? I'm like, yeah. You know how AppSumo, which we did $80 million last year, which is insane. Insane. It's insane. I can't believe it, but it, I started with a PayPal button and my Gmail account where summa.com is software deals for entrepreneurs. People bought it 'cause I posted it on Reddit, the software deal for a product which like I cold emailed the founder said, Hey, I wanna do a deal on it. They people bought it with a PayPal button. I emailed them the code. And that is what set off one $12 sale, $12 sale set off a company that today, you know, does pretty, pretty well. But you have to get started to get to that point.
0 (5m 32s):
And now how can everyone get started right now? Like, lemme give you an example. There's a woman named Mackenzie and I, I've been telling her story 'cause it's so damn cool. She had a day job, probably like a lot of people out there, but she didn't want a day job and she didn't want one person controlling her destiny. She's like, ah, I wanna do something else. So she just sent an email right away to some of her friends and coworkers and said, Hey, I wanna do a business in greeting cards. Does anyone wanna buy a greeting card for me? And I think she sold a few that day. She got validation. And what you're trying to do when you're starting is just get a dollar or just get a hundred dollars. What I recommend a hundred dollars within 48 hours. Give yourself a time limit. I've noticed when I said, oh, I'm gonna do a business, you give yourself six months. I've seen people talk about ideas for two years that in 48 hours they could have found out that business.
0 (6m 15s):
In 2023, John mary makey.com did $50,000 in greeting cards. What last I greeting cards. Guess what? Hallmark Big ass company. American Greeting Cards, big ass company. Mackenzie's company ideally gonna be a big ass company, but it starts with one fricking dollar. Go get one right now. Second thing that people don't think about, and this is what, again, these are the things like John, there's so many podcasts, there's so many books. There's even this place called Harvard where they try to teach entrepreneurship, right? There's unlimited fake gurus on YouTube. How is it that people still aren't having success in business? And it's 'cause these are the things holding them back from it. They never get started on it 'cause they never feel ready. And the the the best day to be ready is right now.
0 (6m 55s):
Now the second thing they don't do is they don't ask and they don't think that again, what the reason I started the show asking is a skill that can get better and better over time. It's not something you have to be perfect with and you can, the power of an ask is an unlimited return. And the mo, the rejection of an ask is a moment of discomfort. And, A learning opportunity. Now there's a guy named Pat I'll just to share some stories. Pat read A Million Dollar Weekend. Pat is a customer success person in Poland, right? Like not in Silicon Valley. Not in Puerto Rico, but in Poland. He had a day job in customer success at a company and Pat's always dreamed of having his own business. And so he just started asking people and he loves YouTube and he's done YouTube videos in the past.
0 (7m 35s):
He asked people via Instagram dms, which is not what I recommend, you can do this. But he made it hard on himself, Hey, I'd love to do your YouTube videos. Can we get on the phone and talk about it? Pat quit his job two weeks ago and his YouTube Consulting agency is now doing $24,000 a month in revenue. He, and he quit his job. He's making more than he was his day job. And that's within five months. I don't promise you it'll come that quickly. You won't be a millionaire overnight even though some one person in the next decade will do it in a weekend. But you have to start it and then you have to practice the skill of asking. And the, the one thing that everyone can do today with asking is do the coffee challenge. I dunno if you've heard me talk about it, John, but you go to a coffee shop and again, the point is not to get this discount, but you go to a coffee shop, you ask for 10% off and then they reject you.
0 (8m 18s):
And you, I always ask people the same thing, what did you learn about yourself? They say two things. One, it was not as scary as I thought. And two, what else can I do in life that I didn't realize I could do? And so those are the two things that everyone can get started on and work on to improve themselves and be, have successes in entrepreneurship.
1 (8m 33s):
I've actually done the coffee challenge myself 'cause I was just like, Hey, why the heck no? I remember hearing an episode you did, I forget with who, maybe it was Tim and I was like traveling that day. So I was in the airport and I'm in the Starbucks line and I asked for that 10% discount and the woman looked at me like I had 17 heads. It like literally threw her into such disarray 'cause 'cause again I did something that is just outside of the norm and they ended up coming back and they just said, Hey, like we can't give you the 10% discount, but like, we're gonna give you an extra like, like what do you want from the pastries? Like we'll give you one of these pastries. And I ended up taking a cookie and it was like, that was really interesting. And I had fun doing it. I mean it's one of those things you just have to be bold sometimes.
1 (9m 14s):
Now sight question just out of the blue, where in Spain do you spend your off year?
0 (9m 20s):
Near Segreta Familia in Barcelona.
1 (9m 23s):
Oh, nice. Beautiful.
0 (9m 24s):
It's it's amazing. It's amazing. I'm, we're about to have a, a kid as well, right? In the next July few, which is amazing. It's super exciting. So we may end up staying here for the summer, but I like the mix of America and Europe. I like the vibes. Yeah,
1 (9m 37s):
That's a great mix. Love that. Fire Nation. We're gonna keep going because you have so much to learn from Noah because everybody complains about they about how they don't have time to do anything. Like I don't have time to stay in shape to spend time with my family, to travel, to run a successful business. They definitely don't have time to do all of those things. And most people don't even think they have time to do one of those things. But you run an 80 million plus a year business, a YouTube channel, a blog, you travel, you work out. I mean, I'm looking at you right now. No shirts, guns out. I mean things are rocking and you still have fun Noah. How the heck do you do it?
0 (10m 12s):
I I will say currently with the whole book tour thing, not well, but I'm also, this is gonna be probably maybe counterintuitive. I'm loving it, I'm working, I'm wealthier than I've ever been. I'm working harder than I've ever been, which I think most people think, well, once you get wealthy you can just stop working, right? Which you can and that's fine. But I'm also like, I'm literally doing the things I love and that's available for everyone. Whether it's a show like a podcast, whether maybe it's a book, maybe it's a restaurant, maybe it's a, a health coaching business, whatever it is. And, and that's to me very appealing. Now, a few ways that everyone can replicate this one, just get one business working. Most people who are not millionaires are trying to do eight things. Okay, I just did AppSumo. That is the only way I've gotten rich, just AppSumo and I found something people really wanted and I stuck with it for a very, very long period of time with a lot of support.
0 (10m 58s):
Now here's some elements that other people can copy for themselves. One, pick one business to, to really get rich off of. I, you know that that is definitely, I found something with AppSumo with software deals for entrepreneurs that worked and I've tried a lot of things that did not work and that that's also important part of the story. Number two, have one singular goal. Not two, not four. One goal with a timeline. So for AppSumo dot com this year in NET revenue, not gross, our goal is 56.6 million. Everyone in the business knows that. Now that makes it very easy for everyone to know what is a priority? Does it help us get towards our goal or not? That's it. This is what I learned from Zuckerberg and what I've done in every single thing I've worked on that's had success.
0 (11m 41s):
My YouTube channel ideally this book, app summa.com, tidy cow.com, all these different projects that have had success, it's ultimately then had one singular goal with the timeline. Next up, I like hiring CEOs for each of these different projects. Like you know how it's the most CEOs in the world, Amazon people don't realize that and I know they're struggling to me they're struggling with a little bit of innovation since Jeff left. But they have so many different CEOs. And so how do you get a CEO in each of your businesses and then compensate them to whatever that they want? So AppSumo, there's a woman named Elona who runs the day-today. She's the CEO with the YouTube channel. There's a guy named Jeremy who's been the CEO of the YouTube channel. And with this book I had tall Roz who's one of the bestselling business writers, really be the CEO of the book writing process.
0 (12m 23s):
And then this guy named Tommy now has been a the CEO of the book marketing and the book Launch process. And so have someone for each of these different businesses. And the last thing is now, okay, you have a CEO, you have a singular goal. Create a very simple scorecard with no more than three items that are objective measurements of the person's success. So let me just give you one as an example. 'cause people are like, what do you mean? So Alana, who's the CEO of apps? I would say day-to-Day. I'm technically the CEO, but she's the day-to-day, CEO, her top three for Q1. I won't give the the details because that's absolute no stuff. But number one is around org org optimization number two is around some of our experimental marketing. And number three is marketing support.
0 (13m 4s):
Those are her top three things to help execute day-to-day, as well as make sure the business is running. And if you have a very objective scorecard, it lets them know what the expectations are and it lets you know that you can leave and we're on the same page of what the outcomes are gonna be. That's how I'm able to do these different things.
1 (13m 19s):
Fire Nation, we're all standing upon the shoulders of giants. I mean Noah learns this stuff from people that came before him. I've learned this stuff from my past guests and Noah, by the way, you are officially guested 4,358 as of today. So I've learned some things over time. You've learned some things Fire Nation over time. And that's what we need to do is take these principles from people like Noah who are running successful businesses and having successful lives in general as well and apply them to your life. And we have a lot more to talk about around this topic when we get back from thinking our Sponsors. Thank you Sponsors. Starting your year off strong and accomplishing goals like increasing revenue and faster growth starts with the right selling tools.
1 (14m 4s):
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1 (14m 52s):
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1 (15m 39s):
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0 (16m 20s):
Yeah, so I, I've really enjoyed, I love creating content, right? I've been blogging on noahkagan.com or OK Dork for 24 years this year. It's my anniversary. And part of creating content I I like, I ended up creating content where I interviewed older gentlemen or older people and asked 'em about their business regrets. And then by getting started coming back to the beginning, that content did really well. And it was then noticing like, wow, if we go for these people, let's go for more billionaires, right? A lot of things in AppSumo’s values is test and invest and then double down. And I think people hear that kind of crap, but they don't understand it. So once I found that works, like I'm now pretty much, not exclusively, but almost a lot of our content on YouTube, youtube.com/okdork is around interviewing billionaires and, and learning about their lives.
0 (17m 2s):
So a few things I would say that are in common. Number one is they did one thing to get rich and, and people hear this by the way, right? Everyone, most advice is not that like groundbreaking and there's no more groundbreaking advice really out there. But here's the thing, you probably don't realize. They were early in a trend that became a billion dollar opportunity. Most people are working in thousand dollar opportunities. These entrepreneurs found something that was non-obvious, that became an obvious thing. And A, billion dollar market over time. And so how do you copy that for yourself? Let's take John Paul DeJoria patron tequila. There was no $30 bottle of tequila.
0 (17m 42s):
There wasn't, but he found something he really, really liked. And I think that's an important part of entrepreneurship is find problems that you're excited to solve. Look in Google trends, look at chat GPT, look online to any indicators. And again, everything I do is quick and fast and cheap because you, I a lot of people don't have a lot of time. You're, you have a day job, you have a a husband, you got things going on, maybe you have kids, you don't have time to get this stuff going, but what you're looking for is some in like some idea that this market could be bigger. I think Google Trends is one of my favorite places to do that. Look at it over time. Look at how it compares to other things because he started pet tequila, which didn't get immediate success, but it had some success in the beginning. It took two years of, you know, people liked it, people liked it, validation.
0 (18m 22s):
And in year three then I think was his first like massive, like holy people are going crazy for it. So again, what is something you're seeing that others aren't seeing? Same with app summa.com. When I started it, there was 10 software products. I went to my mentor and I was like, I just like software deals. I like marketing people want customers. I think the software world is gonna get bigger. He said, it's never gonna work. The only person you should ever trust is a customer. Period. And I got started 2010 and now 2000 whatever year we're in, you know, it's doing pretty well. There's a lot more software. And so just being a part of that wave, that non-obvious, obvious and thinking about that. And you don't have to think a hundred years down the line, even think, hey, in six months will this be bigger or smaller? Two other things just, you know, to, to share about, I'd say non-obvious secrets.
0 (19m 3s):
People don't give enough credit to anyone with longevity. You said something earlier in the show, you did 4,000 fricking chats. Most people do one and stop. And so I found that the law of 100 within business is one of the ways that I've helped sustain and keep things going, which is do a hundred episodes, do a hundred calls, do whatever you're starting. If you found some success with it, meaning someone wants it, do it a hundred times, then you can quit. And these entrepreneurs that are all billionaires, and I've worked for 'em, I worked for Zuckerberg, I worked for Moscowitz, you know, Charlie Cheever, Adam DeAngelo, they're all billionaires, which is bonkers to me. You don't get become a billionaire overnight. You become a billionaire over 20 years. So find a thing that you'll, if you can stick with it for some period of time, but this is what they have done.
0 (19m 46s):
And I don't think people give them enough credit for their consistency and sustainability. And now with AppSumo, now with my YouTube content, now with the book, I think about 10 years, I'm like, okay, am I doing actions that I can sustain? It's very easy to, to sprint a lap. It's very hard to sprint a marathon. Very hard to sprint a hundred miles, but you can go slowly at a hundred. And I think the compounds of business really add up over time. So stick with it a long time. And here's the last part that's interesting. I, it made me realize I don't care to be a billionaire. I never really cared in the beginning, but I definitely don't care now. 'cause a lot of 'em seem like they never found that contentment and they felt like they spent more time fa focusing on the money than balancing and focusing on their family. Like, oh, if I only got the money, I'll finally be happy.
0 (20m 28s):
And I, I don't think that all of 'em, you know, there's no measurement of necessarily happiness, but it didn't seem like they were ever fully satisfied. A lot of'em. Some did and some didn't. But that was an interesting thing to, for myself where I left Silicon Valley. 'cause I don't wanna talk about tech and startups and funding companies all day. I wanna live. Yeah, it's the same reason I go to Spain in the summer because I wanna balance working all the time with living all the time.
1 (20m 48s):
Fire Nation. I think that's a really important realization that Noah made by having conversations with billionaires. And it's something to think about, like what are your goals? Is it to make a billion dollars or is it to live a happy contented fulfilling life? And there's gonna be a couple different paths that you go on to achieve those two different directives. And it's better to know earlier on which path you wanna be on. And A, lot of people to bring it back to the beginning, Noah, they, they would love to scale a business from $0 to a thousand dollars. From $0 to a million dollars and then from a million dollars to be on whatever feels right for them. Whatever makes sense.
1 (21m 29s):
What do they need to do? What has to change?
0 (21m 32s):
I'm gonna talk about the non-obvious stuff, which is you have to make sure that it's something people want. So many times John, people come to me, they're like, I've, how do I market this better? How do I scale it? And I was like, no one wants what you're doing. It's not a marketing problem, it's a business problem. And so how do you know some, you have something people want. They are excited to give you that money that when you ask them, which is exciting, if you think it really can help someone, they're, you're not having to convince them. And I've done businesses, I try to start a business doing home ergonomic setup. When covid was happening, I was like, I wanted to show people an example. So I called up people and I'm like, oh my God, I got my home office set up where my chairs all optimized, my desk is optimized. I thought it was a good business and I wanna show it as an example. I had to beg people, I'm like, beg, oh please Lord, please do this.
0 (22m 15s):
And they're like, fine, I'll do it. But they didn't want to right now. Now fast forward to two weeks ago, I wanted to show people another example of, you know, let's find something people actually want. It's not about making something people want, it's finding something people want. You can make anything, but it doesn't mean they want it. And I noticed that I hated DocuSign and so I was like, let me create a DocuSign alternative, but I didn't build anything and I pre-sold it. And you realize through a Million Dollar Weekend in the process, everything in life is pre-sold almost plane tickets, events, concerts, your Teslas, everything is pre-sold. But we don't realize even on Amazon, you're pre-buying it and then they ship it to you.
0 (22m 56s):
Why not do that in your own business to see what people actually want? If they don't want it, great. Let's find something they do. So I did this DocuSign thing. I looked up everyone who ever emailed me a DocuSign, put 'em on a spreadsheet and I just called them. I made $3,000 in about five hours. I don't have a domain, I don't have a website. I didn't really even have a programmer who was gonna build it, but I had clear market validation. One that people really wanted this. They hate DocuSign. It's, and you can, you're gonna get the product, it should be available in the next 30 days on Amazon, on AppSumo, and then two DocuSign's, $11 billion business. That's a huge ass market. And I think people signing things and going more digital is gonna keep growing. Probably not declining now. So that, that's the foundation of making something people want.
0 (23m 38s):
Secondly, most people that are trying to make it to a million are not working million dollar markets. They're working in thousand dollar opportunities. And lemme give a very easy example for people to visualize it. Last week I paid for my girlfriend to get a masseuse. So Claire came over and Claire charged me $140. If you wanna make a million dollars being Claire, you have to do 7,142 backs. How many is that per day? That's a lot. That's a, oh, okay, so let's do that by day. How many is that by day? That's 19 And A half backs per day, seven days a week, seven days a week, 365 days a year. Or if you, let's say average it over a few years, like that's a lot of backs. And, A, lot of hours.
0 (24m 18s):
Now that's a thousand dollars opportunity, right? Because at best you're only gonna get there. But now what if Claire hired two other people to do it and her only job was to get leads, huh? That now can go from a thousand dollars opportunity to a 10,000 or a hundred thousand opportunity. Now maybe Claire thinks, hey, I can build a platform or I can build a coaching program that teaches other people how to run their own business. Or I have oils that help people can sell when they do their mass massages. Or you know, I have my own software program. Now you're, I think people are like, oh shit, I get it now. Yeah, that creates actually a million dollars of money that you could potentially make versus most people are working in small opportunities now. Those are the the foundational pieces that people are missing.
0 (25m 1s):
I think the other things about scale that people just don't do, number one, they don't hire an assistant. You have to have an John your assistant emailed me about the show. Oh yeah, I didn't even talk to you. Nope. Not once. Not, yeah, I was like, John, talk to me like no fucking an assistant. You know? And I have an assistant, his name is Noah Kagan. You know, that's what I named my assistant. No. So I've always that joke. No, get an assistant and, and look you can get it for like 10 bucks an hour. Get your friend. I'm gonna always shout out the site, hire my mom.com and you guys, these guys gotta sponsor me. You can get these assistants for like 20 bucks and these are bomb assistants. And nowadays it's so many options. John, you, I know you've had a lot of assistance relief. Oh yeah, I have a lot of assistants. And that is how you can scale your time.
0 (25m 43s):
And that's also how you can practice leadership. It's how you can practice delegation. It's also how you can practice. Well, huh? If I pay them 10, I better be getting more money doing other things. So how do I make sure I'm doing valuable things with my own time? And you scale a business through people or software, that's it. And I, I think assistants are a great way to scale time and practice leadership and practice delegation and practice growing a business. Now the last thing, and this is, this is the thing that everyone's gonna hear and not do, but except one person. So one person will change their life today. And I, I think you just have to decide if who it's gonna be. And I think it could be you. So they don't keep doing what works. And I know this is the thing that people are like, yeah, I know, but tell me the secret marketing stuff. Like yes, we have a 20 person marketing team.
0 (26m 23s):
We spend half a million dollars a month on advertising on the AppSumo marketing team. I've, you know this book, I think it's gonna do pretty well. Mint 1 million users, YouTube channel million users in two years. Like I'm pretty good at this marketing thing. And people were like, well tell me the secret. I'm like, what are you doing? That was working in the past. I was DMing people. Let's even take this book. I built a Launch team for Million Dollar Weekend. You know how I built it John? I DMed people one by one. No, no, no. But okay, but didn't you like email out? Yeah, at the end I emailed out. Yeah and eventually you can do scalable things but if it's working in the beginning, just keep doing it. So I kept DMing and kept DMing and kept DMing and kept DMing, you know who did it? Me That's the virtual assistant. It was myself. People were like, really? It's you? I'm like, yeah, it's a team called Noah.
0 (27m 6s):
And that worked. So I kept doing it. And so most people in every business don't keep doing what works and the thing that works, they're not doing it enough.
1 (27m 14s):
Yeah, I wanna jump in here Noah, because it's so reflective of my journey as well because when I, back in 2012, launched the first daily podcast interviewing entrepreneurs literally seven days a week. You know, we had our First Million dollar plus year in 2013, just a year later. So everybody was like, wow, what's next? I'm like the next interview, like, I'm gonna keep doing a daily interview 'cause that's what's working. And then fast forward three years, you know, we did like, we had like a $5 million a year. They're like, oh, what's next? And I'm like, I'm gonna keep doing daily interviews. Like I just continued now 11 plus years later to do what's working. And I get personally better at it every single day. My systems get better, my promotions get better, everything gets better.
1 (27m 57s):
And I keep doing that thing. Like why do people stop doing what works? And if you think Fire Nation, you've gotten some value from Noah over this conversation, think of what you would get with a weekend with Million Dollar Weekend in your lap coffee by your left hand steaming ready to sip Noah. Where can Fire Nation go? To learn more about this book,
0 (28m 22s):
You can go to milliondollarweekend.com. So much props to you for sticking with your show. Thank you. By the way, I don't think people recognize you have to find something they want and you stick with it. And if you can just enjoy that you're working on the process and finding parts you like, like the, the amount of results and returns compound over time, really. And it's the best upside. Entrepreneurship is the best upside in the world for the lowest cost risk that you can take. Like real estate put up money like stocks, you have to put in cash and wait. Like entrepreneurship, you control it and you can control the effort you put. So yeah, if you're interested in Change Your Life, 48 hours million Dollar Week can go to milliondollarweekend.com. A bunch of tutorials, videos, step-by-step scripts.
1 (28m 56s):
And it does compound Fire Nation. It really compounds over time and you're the average of the five people you spend the most time with. And hello, you've been hanging out with NK and JLD today, so keep up that heat. Head over to EOFire.com type Noah in the search bar. The show notes page will pop up with everything we talked about, but milliondollarweekend.com is your direct call to action Noah, thank you for sharing your truth, knowledge, and value with Fire Nation. For that we salute your brother and we'll catch you on the flip side. Thank you,
0 (29m 27s):
JLD.
The Freedom Journal (29m 27s):
Hey, Fire Nation, a huge thank you to our sponsors and Noah for sponsoring today's episode and Fire Nation's successful entrepreneurs accomplish big goals, which is why I created The Freedom Journal to guide you in accomplishing your number one goal in a hundred days. And we're talking step by step. Visit thefreedomjournal.com and I'll catch you there or on the flip side.
1 (29m 48s):
Marketing Made Simple hosted by my friend Dr. JJ Peterson, is brought to you by the HubSpot Podcast Network, the audio destination for business professionals. Marketing Made Simple brings you practical tips to make your marketing easy and more importantly make it work. A recent episode on whether vulnerability is a superpower in business is a must listen. Listen to Marketing Made Simple wherever you get your podcasts. Many EOFire listeners have launched non-food franchises and FranBridge Consulting has guided them. FranBridge's founder and frequent EOFire guests. Jon Austinson has done more placements than any other in the country and his service is free. Sign up for a consultation with John or get a free copy of his book, Non-Food Franchising at FranBridgeConsulting.com.
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
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