YouSaid · the spoken record

Josh Kaufman

lines on the record: 139
first: 2024-07-15
most recent: 2024-07-15
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“First learn from them buy from them become their customer, learn as much as you can about what they do, how they do it. Customers can be a wonderful source of market research around what's happening in a category, what's important, what's not, what was your experience.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Remember, I think this was a Time magazine article, something like that. It was like this is the mystery invention. We're not going to talk about it yet. The mystery invention that is going to change the way that cities are planned. The hype for it was absolutely extreme. And when it came out, it turned out that people didn't want to buy a ten thousand dollar alternative to walking or riding a bike. And so it's like those, like, nobody's ever done this before. Can actually be in a weird way a bad sign. You want something that like the market exists, the need is there. People are excited about it. People are looking for solutions. And then, like Liquid Death, if you can come in and do it in a fundamentally different way that grabs a lot of attention, that's a really, really great promising sign.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“The Marcus, you need to be really careful about are the brand new to the, nobody has ever seen anything like this on the face of the earth. Because not only do you need to educate and convince people, you have no idea whether people have will purchase this thing that you've made. A story that I tell in the book Dean Cayman, the prolific inventor. This was the development of the Segue. Like Balancing scooter thing?”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“There's something really fun here. I talk about it in the book, I call it the iron law of the market. Which is. The way of saying that markets that don't exist don't care how smart you are. It was a Mark Andreessen quote from way back in his Netscape days. And it's the whole idea like, It's actually a really good thing that there are a bunch of people. Because that means that there's a large market of people who are willing and able to buy candles. It validates the need. It validates the existence of the market in the first place.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Offering candles. Yeah. So to me, like. Making some assumptions if you're handling, if you're selling candles direct on the internet with a small distribution center and mostly online advertising, your team is probably going to be relatively small. And that can be a really good thing. If you're selling candles in distribution and tooling up a manufacturing line and going off and calling on all these large customers and potentially producing mass market candles, it's a very different business operation. And so there's a lot of like. Understanding the necessities of the game that you're playing? And then matching your hiring exactly to what those needs are but not more.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Helping remove barriers to people who are doing skilled work? How can you remove as many things from their plate as possible so they can focus on the parts of the business that are generating the most value And so There's a lot, I think this was the founder of Southwest Airlines Herp Geller. Like higher for attitude, train for skill I think there's a lot to be said for that.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Something that is done in want, like say the marketing end of things might really make a huge difference on the value delivery or customer service end of things. If you have all of those pieces in place, then the question becomes how large does this business need to be in order to serve its customers to the maximum possible extent in a long-term sustainable way. And then what level of internal organization makes the most sense so people can spend most of their time doing work related to the five parts of every business and as little time as possible managing the rest. And so this is kind of the flip side of some of the common failure cases of bureaucracy, paperwork, busy work, all of these things. What level of management do you need? How can you minimize that? How can you make sure that To me, good management”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, so I think there are a bunch of different ways to answer that. We've talked a lot about the five parts of every business. Those are the fundamentals of what the employees are actually doing. In general, you want to hire people who are Curious, engaged, excellent communicators and are signing up for whatever it is, the long-term objective mission, vision of the company. Here's what we're doing. Here's why it matters. Here's exactly who we're serving. Here's why that matters. Here's how we're going to go about doing that And from there everything that happens within the company is Each of the employees are going to be focused on one or more of these five essential parts of the business in an ideal world they understand all five and how they interrelate to each other and how”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“You want them to engage in the process of driving and imagining as quickly as possible because that's when they start to convince themselves that this is something that they might want to have in their life. So anything that you can do to engage those kind of simulation prediction sort of processes, the better.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“With a little bit of information, our brains can kind of extrapolate or start to predict what is likely to happen out into the future to a certain extent. And this is to some of the things you talk about in your book about storytelling. This is why stories work for marketing and sales. It helps people engage that part of their brain that can simulate a potential future that looks and feels really great and start to anticipate it, get excited about it. Like when you're selling a car on the sale side of the spectrum. Rule number one is get the potential customer in the driver's seat of that car as quickly as possible. Nothing else matters.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, well, I think this gets into some buyer psychology things, which is. Imagine what their life is going to look like if they go down this particular route. If I buy this thing, if I sign up for this service, if I become a member at this club or gym or whatever, there's a mental simulation process that very often happens of like maybe buying a new car is a good tangible example of this. Like before you buy the car, you do the test drive and you imagine like what would my life be like if I was driving this every day? If I pull this into my driveway, where are the neighbors going to? They're going to look at me and think I'm cool, you know, like there's this”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Of that product. Yeah, this is the difference between iPod has one gigabyte hard drive and a thousand songs in your pocket. A thousand songs in your pocket is a benefit. The size of the hard drive is the feature that enables that.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“One very useful way of thinking about this is whenever you're doing any sort of marketing or sales, you're focusing on the benefits, the things that you're delivering to people, the things that are enticing. And if you talk about features at all, you use them as reasons to believe that you're going to be able to deliver the benefits that are promised. And so if, for example, you're, you're Taking an ecologically friendly approach to your candle business, the fact that 100% soy is very clean burning and environmentally friendly might be a reason to believe that this benefit is true, but it's not the primary reason that people are going to purchase.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“There are many, many frameworks. I think the biggest, most popular one, which a lot of people get stuck on, is the whole features versus benefits conversation. And so. Context of candles features conversation would be this candle is made from 100% soy wax. People don't necessarily care. It's not relevant to the reason that people purchase candles. Benefits are the things that people that get to those core human drives, the things that motivate the purchase to begin with. And so...”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“If you can contact Jack and say, hey, you bought candles from us last year, would you like to buy candles from us this year and get him to pick up just a couple more candles? Like the cost of that promotion is potentially very small. You already know he exists. You already know that he's purchased. Can you just get him to do that again? Those are some of the most effective marketing sales campaigns that you can possibly run, but it also requires that they had a good experience with whatever it is that you're offering in the first place.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, yeah, and that's a shame. Because really, like those happy repeat customers. Are not just like your high lifetime value customers, the customers that will stick with you keep spending money with you. Also, a primary source of marketing. Like word of mouth marketing is all happy customers telling other people who might benefit from your product that, hey, here's this wonderful thing you should probably check it out. And so, yeah, like things like post sale support, sometimes customer reactivation. So to your point earlier. That's a very straightforward marketing technique called reactivation.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yep, time seven So, the lifetime value, well, let's say we're just over the course of a year, seven dollars profit. Let's take someone like Jill. Who burns the candle every week? And not just this year, she burns a candle every week. Years and years and years running. So for Jill, fifty-two times seven is three hundred sixty four dollars. And so she's a much more valuable customer than Jack is by a lot. And so if you had to make a choice between Jack and Jill, you should choose Jill every single time.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Lifetime value. This is a fun one. So lifetime value is the sum total of all sales of a customer with a business. And so imagine”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“It's relatively straightforward to make a sale once. Usually the first sale is the most expensive. And so generally a repeat customers are the best customers you will ever have. They already know you exist. They already know your stuff is great. You don't have to attract their attention again necessarily. And depending on what you're selling, those repeat customers can, the lifetime value of a repeat customer can be extraordinary. And so if you've already done the work to get a customer once, then you should want to keep them happy and keep them around for as long as humanly possible.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, so I think There's a part of Because sales was kind of in the middle of the process, there's a part of sales that intersects with marketing in the sense of you're trying to make this maximally appealing to get someone to give you money for it. And so the customer understanding how can we be persuasive in getting someone to say, yes, this is for me, here's my money I would like one, please. There's also a part of sales, which is somewhat neglected. Which intersects with the value delivery part of the process, which is the point of a sale is not just to get a customer. In an ideal way, it's to get a happy, satisfied customer, someone who not only purchased the thing that you bought, but is happy with the thing that they bought and is thrilled that they did business with you and is planning on doing business with you again.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“And so for a candle business, this might look like direct sales online. It could also look like intermediate sales like through a distributor. And so It's funny, like value creation, marketing, value delivery, and finance, all of those are the processes where money's flung out of the business. You're spending money to do all of this analysis. Sales is the part where money comes in, which makes it particularly important. And so some of the early decisions around sales are how are you going to ask for the sale? What does the sales process look like? And are you dealing directly with the customer who is purchasing from you? Or are you dealing with some sort of independent third party or sometimes multiple third parties in the process? Distributor. Exactly.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“A lot of the other particulars, the tactics, the strategies are very dependent on. What market are you operating in? What scale are you operating at? Like all of that stuff, but fundamentally understanding that people are busy and starved for time and attention, how can you grab it and what can you do to keep it? That's the primary skill of marketing by far.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yes, fundamentals of human attention that comes down to psychology. So the vast majority of people moving through their lives are busy, stressed, overwhelmed, already have too much information bombarding them from all points at all times. And so figuring out I think this is a story you tell in your book actually. So Jenny on the side of the road who's broken down having the worst day of her entire life. It's a little bit of hyperbole, but it's true. Like most of us are just wildly oversubscribed in terms of attention and time and energy. And so figuring out the little bits of being able to highlight the thing that's most important, most interesting, most valuable up front quickly that cuts through, that is the primary skull of marketing.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“And a certain amount of polarization is a very, very good thing because it means that the thing that you're doing is distinctive enough. Like the people who care really care. They really love it. They're going to buy it consistently, buy it often. The people who don't care might be completely apathetic to the category. You might not ever spend a million dollars in 10 years. You might not ever be able to get them to care. And so your job as a marketer is to attract the attention of all of the hyper responders, the people who care a lot, care often and like are really into it and then all of the people who don't care and are never going to care, they can go away. And that's fine.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yeah. I mean, going back to our new product development conversation, that's what a lot of people struggle with too, because they have their first conversation with somebody who's like, oh, I hate that. What am I doing wrong? How can I fix this? It's like, no, no, no, no. You don't need all the people. You need the tiny fraction who care more than everyone else.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I mean, that's the benefit of controversy too So controversy can be a wonderful marketing tactic if you use it responsibly. And so, you know, you don't necessarily want to turn your business into a soap opera, but by By deliberately courting a certain amount of controversy focused on the benefits or the features, you can attract a lot of attention that way”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“And it set them up as the polar opposite to faceless beige computer box corporation. And so, yeah, like if there's something that is the prevailing trend in a certain industry, it can often pay to, in the anthropological sense, take a step back. Notice what's going on. Here's the signal that's being sent and then make a deliberate decision to be the polar opposite of that.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“And so that's just like social signaling is a rabbit hole that you could spend decades going down and not get to the end of it. But it's all about who am I presenting myself to be in the world? Who do I affiliate with? Who do I not affiliate with? And countersignaling is noticing a signal that's happening out there in the world and making a deliberate decision to. Be the opposite of that, or the antithesis of that. In some ways That is such a fascinating part of human psychology that Generally speaking, if you can, so you could say Apple did a lot of countersignaling because Microsoft, you know, some of the incumbent manufacturers, was their famous 1984 advertisement was almost pure counter signaling. It was almost pure emotion.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yeah. And there's a whole on the psychological side of things, the studies about signaling and counter signaling. This is how fashion in the broad scale works. So all the cool people, high status, fashionable people start wearing a thing to signal group affiliation of like we are the type of people who wear this. And then very quickly, you have follow on folks who are like, oh, the cool people are wearing this, I should start wearing this too. And that happens a couple generations until that thing is at. Marks and Spencer target choose your retailer. And then the people who want to distinguish themselves from all of the things that are being sold, the mass retailers will change fashions specifically to signal that we are not that. And so the cycle begins again.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“I think they were first. So that's also You talk about in your book the value of doing something big and crazy for the value of doing something big and crazy. I mean, they were the first to do something crazy on the marketing side for water. It was a really boring product category. Very straightforward, very functional. And what their big insight was the way that we talk about it, the way we package it, the way we present it matters. And there's a certain subsegment of customers that would not buy a straightforward bottle of water because they don't care. If they can signal something about themselves or a group affiliation in some way, shape, or form through the packaging of the product, then to a certain subsecument of customers, that's valuable”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Totally. An affiliation, like there's a little bit of a bonding, or I'm the type of person who wants to present to the world in this particular way. So I don't buy Fiji. I buy liquid death. Sure”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“I mean, it's possible. It's my next business idea, I told you. Yeah. But like things like the packaging and the marketing and the scent and the unboxing experience and the anticipation of putting it out as the centerpiece when all your friends come and all of that, like there are so many emotional hooks to that sort of experience that you could argue that candles are sold almost. All on emotion. And that's great. That's the value that's being delivered.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“In an ideal world, you do both, you can go a long, long way with emotion, even when you don't have straightforward, superior product benefits. Going back to our discussion of candles earlier. Candles have been around for what hundreds of years? Like you're probably not going to make barring material science advancements. You're probably not going to make a technical contribution to candle science in the process of making something.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“A thousand songs in your pocket. It's how the songs make you feel. This is a way that you can feel that more often or more strongly. It's pure emotion. And they specifically, you know, so a more like straightforward drive to acquire on a technology product is like how many gigabytes of storage does this thing have They talked about they made a deliberate decision not to talk about that at all because it didn't matter people didn't care. It was all about here's how you can feel through the experience of using this product to have an experience you wouldn't otherwise have.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I would say, do you remember the early iPod advertisements with the white silhouette person dancing on a color? Those advertisements were straightforward feeling.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Is status. So I would say there can be the acquiring status drive. There can also be very much in-group out-group dynamics or a form of bonding, right? I'm the type of person who identify or who will wear this sort of thing. I form relationships with people who care about these sneakers, these special editions, these athletes, these whatever. Less learning, less defending, feeling can very much be a part of a product experience, like people who strongly identify with certain brands, certain lifestyles, certain ways of being in the world. When you put on something that makes you feel good, there can be an emotional component to that experience that's very, very strong.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“So, yeah, and to me, like, so the drive to acquire, you know, let's go out and buy products, enhance my career, things like that. The drive to learn, gather knowledge, understand the world, the drive to bond, relationships, experiences, the drive to defend. Let's protect myself, home security systems, you know, all that thing. And for me, like entertainment is very much a drive to feel. We don't go to the movies to do any of those previous four things. We go to the movies to have an experience, to feel emotions. And so to me, the vast majority of offers in the market. Are designed to hook into or to take advantage of one of those five core human drives. And the more drives that you hook into generally, the more attractive the business offer is going to be. And so you could make a pretty straightforward argument.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, there was a really great book about this published years ago called Drive by Paul Lawrence and Noria, who I think at the time was the Dean of Harvard Business School. And they argued that humans have four fundamental drives. And if I can remember off the top of my head, the drive to acquire. Drive to bond, the drive to learn, and the drive to defend.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“What is it exactly that you're trying to gather attention for, and where do those people generally hang out? What are they curious about? What are they already paying attention to? What can you take advantage of or dovetail into in order to attract someone's attention at the right moment at the right time and make them aware that you have something that could benefit their life? Here's what it is. Here's how you can benefit from it.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Marketing is fun. Yeah, marketing is just who might be interested in this thing. And A lot of it is the fundamental thing is if no one knows you exist. No one's going to be able to buy your thing. And so marketing is the process of attracting the attention of people who might be interested in the value that you're creating. And in an ideal world, making them curious, wanting to learn more, asking for additional information, engaging with what it is that you have. A lot of people conflate marketing and sales. To me, they're distinct processes. So marketing is the attracting attention and generating interest. And then sales is the process of convincing someone to buy and then getting them set up as a customer. And a lot of marketing comes down to”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“And then you're bringing it to the attention of people who care, and you're convincing them that they need to try this to actually solve their problem. And then it works. And then they give you money for it. It's great. So you can just keep that process going for as long as it makes sense to everyone involved. I think to me a well-running working business system is a thing of beauty. You're solving people's problems. You're being rewarded for it. You're doing it in a way that allows you to keep solving people's problems. And it makes your life better in the process. I think that's a wonderful way to live your life. And if you don't start... By asking the question, what is the valuable thing that I am going to deliver to people who care? The whole thing pulls apart.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I think If you are not providing value to other people in a fundamental way, you have no business. Venture that Markets and sells something that does not deliver value to other people is a scam. And so, really, I think there's a way of thinking about business. This is one of the things I find fascinating about it. Business to me is a generative act. You are going out into the world, you're finding a problem, you're finding a solution to that problem. You're creating something that makes the world better in some fundamental way.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Like, that's the signaling parts of business. It's playing a role where the actual doing of the business is the value creation, marketing, sales, value delivery, finance. And so the more you can skip all the early stuff, get to the core of what is going to make the business succeed or fail, figure that out as quickly as possible, and then get on with it, then you're going to have more than enough time and money to have fancy business cards and like do that bit. Yeah, it really is. At the idea validation stage, it's how can you ask enough people who might be in the market to spend money to solve this particular problem? How can you get something valuable in front of them as quickly as possible? What would that look like? And how can you do that, particularly early on if you don't have a lot of funding, in a way that minimizes time and finance? Because the worst possible way to go about things is”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“I think there's a difference between doing business and playing business. It's like people who get really, really excited if I'm going to start a company. And so the first thing I need to do is pick a logo and buy my business cards.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Does and then you do a short run to mitigate your risk first Get your initial feedback from your first run of customers. They will have opinions about what works and what doesn't. And then if that is enough, that's when you start small and then you work up to larger and larger batches of production.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Ask them to place a pre order. That's the step two So it's not the question isn't. Do you want it? Is it is this enough of a problem for you to pay money to solve it? There's a guy, dust trainer, who founded Intercom. A saying I just love. He's like, Show me a credit card that has been swiped to solve this problem. And I will concede that the problem is real. And so you're really looking for this big enough, important enough? Are people spending money to solve this particular need? If so, that's a really great sign.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“That's where you talk to people. And that's the, this is where value creation and marketing tend to intersect. And so it's, can you identify people out in the world who have a very similar problem set of things that they're thinking about, set of questions that they're trying to answer? And the more of those people you can identify and the more urgent and pressing the need is, that's the first thing that you need to look for in terms of identifying viable markets.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Yep. When it's in a lot of it comes down to how big is this problem? How urgent is it? How many people need something like this? So this is where you get into like the, you know. The standard supply and demand sort of economic consideration. Is this a need that only you have or is this a need that many, many people have? And how big of a need is this? Is this something that, for example, high-profile podcasters will pay thousands of dollars to solve? Or is this something that affects only a subsegment of people and is not valuable enough to bother with or to invest a lot of time and energy researching finding a solution for?”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Talking about, yes. And there's also in this specific example, it's something that will serve the need with this particular microphone. And so, for example, you might be able to solve the problem in a very straightforward way by changing to a different microphone that has different options available. So a lot of it just depends on the constraints that you're dealing with.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT
“Business for whatever reason. And so some of those early stages of entrepreneurship are very focused on what is this, how might it work, can we sketch it out in enough detail to know what questions we need to answer next in order to figure out like what are the critical assumptions? Can we meet those critical assumptions to make a valuable business? If so, yes, let's move on to the next step. If not, let's discard it and go on to the next.”
2024-07-15 · The Diary of a CEO · Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep! · IDENTIFIED FROM THE TRANSCRIPT