“Each month I walk away with a piece of advice that sticks with me and helps guide my decisions for the rest of the month. Most of the time on the call, I don’t even know what will have the biggest impact. But a few days or a week later, there’s Eric’s voice in my head.”
Chris now considers himself an expert in the world of online sports betting licenses, with no question he can’t answer (or quickly find the answer to). He’s realized that while he thought he knew his customers previous to this last pivot, he knew jack about his previous industries.
The mark of a great business is product/market fit — successfully selling to the market is far easier said than done. What *is* much, much easier is proving that a business idea is a bad one. You start with the question “what needs to absolutely be true?” and see if you can quickly prove one or more of them false.
The odds you can do even one thing well when starting a business are LOW. The odds you can simultaneously do multiple things well are VERY low. And, if you’re trying to derisk your business, that’s the first place you should start. Find your one good thing, and focus on it.
Sales is the difference between running a company and having a hobby. So if you’re the founding CEO, or want to be a founding CEO, but you don’t want to make the first 30 sales, don’t be the fucking founding CEO. Full. Stop.
The investor hears it and at first they don’t believe you. “Nah,” they say, as they start to argue with you whether that’s the way the world really works. Then, after a beat or two, they go, “wait, you’re right.” And after another moment, they think “fuck, that’s the only way it can be.”