Raising Millions, Dopamine Fasts, Local Maxima, & More
Issue #37 // *|DATE:F j, Y|*
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Today at a Glance:
Quote: Escaping the local maxima
Reading: The Mom Test
Podcast: Dopamine Fasts
Tweet: Raise millions for your startup
Idea: Matchmaking for Restaurants
"Big ideas come from forward thinking people who challenge the norm, think outside the box, and invent the world they see inside rather than submitting to the limitations of current dilemmas." –T. D. Jakes
Unknown self-imposed constraints are one of the most dangerous thoughts to an entrepreneur. While it may enable quick problem-solving, it will constrain our ability to grow. Therefore, we need to escape the local maxima, otherwise we will end up building a faster horse.
The Mom Test - How to talk to customers
This article is a summary of the book, "The Mom Test, How to Talk to Customers & learn if your business is a good idea when everybody is lying to you" by Rob Fitzpatrick
It builds off of the premise that everyone discusses ideas and less about the problem. While ideas are sexy--ideas are worthless without execution. Even if execution goes flawlessly, that idea is worthless without need. Conversations need to shift from idea to problems instead, and in order to do that you can follow the Mom Test approach:
Talk about their life instead of your idea
Ask about specifics in the past instead of generics or opinions about the future
Talk less and listen more
By focusing on the problem, your conversations with customers will transition from an idea to a need.
Dopamine Fasts with Andrew Wilkinson
Burnout is a real thing. Even if you love what you do and everything in your life is going great, it still creeps up on you without even realizing it. This is an after-effect of today's increasingly online world. In this episode, Andrew Wilkinson of Tiny Capital went on a 4-week dopamine fast to experience the rejuvenating effects of a post-burnout world.
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f*** you pay me
Think of it as "Glassdoor" for creators. As a creator myself, I've always wondered if I was getting screwed over when taking on affiliate and direct deals with brands. With FYPM, there is now a source of truth. As the creator economy continues to grow, FYPM will enable transparency that rely on this income.
Copy your heroes
Claim secrecy when asked any difficult questions
Deepen your voice
Choice is abundant in this world and we suffer from analysis paralysis. Even with something as simple and low-risk as picking a restaurant can be a monumental task.
Are you tired of disagreeing over where to eat with your friends or significant other?
Always eating from the same restaurants?
Worry no longer, simply tell our online matchmaking software some of your key requirements and we'll choose and book a restaurant for you.