Great intro into building a small software company. Some really good advice on finding and serving your market.
Order of importance is market, marketing, aesthetic, function. Go into niche markets and create focused products. Target small businesses and consumers. Create complementary products not products across niches. Build an email list. Outsource tasks and automate processes.
A must read. If you build any kind of products, you need to read this book.
Customers are less price-sensitive about products around which they have formed habits. They increase the dependency by storing value in the product. Two factors for habits: frequency and utility. The more users invest time and effort into a service, the more they value it. Identify habitual users, codify the steps they took (“Habit Path”) and modify the product to fit the new insights.
Great book, reminding us in this day and age, no matter how big or small or how successful your company is, you need to always innovate and “be paranoid”. Recommended.
Look for connections and try to understand the patterns. Be a hunter (insatiability, curiosity, willingness to destroy), not a farmer (complacent with success, repetitive, overly protective). Understand your customer, adapt, and fashion fast solutions. Experiment with new ideas. Target niches.
Ever watched a recorded webinar 2-hours long only to find there was nothing substantial in it? Or, does the presenter talk r–e–a–l–l–y s–l–o–w–l–y?
You can avoid such things just by speeding up the video.
I usually download all videos and then watch them with 1.5-1.8x playback speed. You can start with 1.1x and then slowly increase speed. After some time you’ll easily listen to (and understand) 1.8x playback speed without issues.
Here’s the tools I use.
YouTube allows increasing speed of videos by clicking on the settings button.
Really good book and very fun to read. It reminded me again of the importance of systemizing work and focusing on your best customers. Highly recommended.
Find the top clients (/client type), treat them preferentially, fire all other clients (/client types). Ask the top clients about their frustrations and solve them. Don’t work, build systems for people and things to do the work.
Great look at one of the most interesting companies on the web, WordPress. While not everybody is as lucky to be able to focus only on product and leave everything (especially marketing) as a second thought, this book still has some great lessons and ideas, especially on managing employees. Definitely a recommended read.
Hire by trial. All employees participate in support. Scoreboard for the entire company. 5 people in team is best. 1. hire great people, 2. set good priorities, 3. remove distractions, 4. get out of the way. Always ask “how will this impact the user?”.
I’m sure most of us have a bunch of books on our shelf or to-read list but never get to actually read them. I enjoy reading and always wanted to read more but somehow couldn’t get myself to read more than the 2-3 on my summer vacation.
First of all – reading on a daily basis as recommended by Jerry. No matter if it’s just 15 minutes, I always read at least one chapter per day.
I also read at least two books at a time. This is one of the major lessons – if you get bored of one book just move to another. If you don’t like the book, drop it and start with a new one. There’s no use in reading something that you’re not enjoying.
You might think that you can’t keep track of that many books – and you can’t. That’s why I take notes for each book and gather them in Mac Notes (I use Kindle which allows you to easily highlight text). When I finish the book I also summarize the summary in a “tl;dr” (too long, didn’t read in geekspeak). This is the core of the book in 4-5 sentences.
I also read a non-business beside one or two business books.
Everything I read or want to read I keep track of with the free website Good Reads.
Twenty books per year is not really that much. But if you’re like I was, 10+ additional books can make a BIG difference – it did for me. Try it out and let me know how it goes!