How Substack Empowers Independent Writers

Early user success can validate your product and inform improvements.

\"He made like 6 figures his first day through this like duct taped like stripe setup that I had built in the preceding weeks.\"

• Be prepared for unexpected success.
• Use early wins to boost confidence.
• Continuously refine your product based on user feedback.

Taking initiative is crucial; many ideas fail due to lack of action.

\"Most of the great things in the world that don't exist are not because of a lack of talent or luck, but because of a lack of people setting out to do hard things.\"

• Act on your ideas.
• Commit to doing hard things.
• Success requires starting, not just thinking.

Building sustainability allows startups to control their future without constant fundraising.

\"We have like we are in control of our financial destiny.\"

• Create a viable business model early.
• Aim for financial independence from investors.
• Reduce reliance on external funding cycles.

Early successes may not be easy to replicate, persistence is key.

\"It wasn't as simple as get the next 4 Bill Bishops.\"

• Expect challenges in scaling initial success.
• Maintain persistence despite difficulties.
• Adjust strategies when growth slows.

Combining tech skills and industry knowledge boosts success.

\"I can think about things through from first principles and having both halves of the brain, having the first principles understanding, but kind of pairing it with being of that world and knowing the language and knowing the people was actually like the magic that made it work.\"

• Pair technical expertise with industry insight.
• Diverse backgrounds enhance problem-solving.
• Collaborate to bridge gaps in knowledge.

Fair equity split among co-founders can build trust and commitment.

\"You insisted on splitting that evenly based on past lessons and ideals you developed for yourself since.\"

• Consider equal equity splits to strengthen partnerships.
• Align on shared values and goals.
• Past experiences can inform better decisions.

Validating your idea with early adopters can prove your concept.

\"So halfway through his process there, I jumped into his inbox and said, my friend and I are starting this thing... Would you be interested in being a guinea pig for this? And he luckily said yes.\"

• Approach potential users directly.
• Offer to solve their specific problems.
• Use early feedback to refine your product.

Having a clear business model from the start is crucial for startup success.

\"It did leave me determined to operate in a different way this time and to have an idea from the get-go of like, what is this business?\"

• Define your business model early.
• Learn from past experiences.
• Ensure sustainability from the outset.

Overcoming early skepticism is a common challenge for founders.

\"I would tell people in my life, hey, we're gonna make this platform that's gonna, you're gonna pay for writers on the internet that you really like, and they would look at me like I had horns... But, you know, and I'm sorry to be the one to have to tell you this, you idiot, but... Nobody's ever going to pay for something on the internet.\"

• Persist despite others' doubts.
• Test your idea with real users.
• Trust your vision.