I believe that being involved in startups and starting new companies by delving into the unknown can be one of the most challenging and rewarding ventures that we can embark upon in our lives, startups can be more rewarding than actually becoming rich!
Over the years however, there has been many great insights given from other entrepreneurs who have traveled these routes (we all like to help others by sharing our perspectives and knowledge) and these are constantly advancing.
Often enough however, those apparently lauded as successful are also plagued on the inside with doubts, depression, chronic stress, regrets and sadness, while at the same others maybe believing those same people are living the dream.
One such case is of Rand Fishkin, Founder of Moz, who recently posted on his blog a harrowing account of his own depression and a most interesting read caused no doubt by years of struggling to achieve the sometimes impossible task of keeping the machine expanding all the while promising to staff that they will keep their jobs and to investors that they will get a healthy return. Such a burden for an entrepreneur in the center of a vortex that sometimes takes on a life of its own and becomes unmanageable or perilously stressful.
Another recent and very interesting resource is set of lectures being put out by Y Combinator (a fantastic idea and incubator of entrepreneurs) who are currently putting out a serious of lectures with Sam Altman (among others) in an attempt to spread some of their wisdom that they pass on to the young startups that go through their programs as they tread tentatively towards the unknown path towards riches and building a startup.
Now all the while there is some fantastic advice being shared, and those serious about running startups should sign up to get the lectures as they come out!
But in contrast to Y Combinators basic stance, (that to be successful, startups need investments) this video also from Stanford is going to throw some cold water over the ‘investment’ method of getting to the ‘top’, and examine this fallacy that has been wrongly accepted as correct by many, namely that in order to succeed you need to raise capital through angel investments or venture capital. Instead David Hansson of 37 Signals argues that lifestyle business opportunities can be enjoyed more where entrepreneurs can become wealthy and successful without touting for investments, instead by bootstrapping and personally building their startups and focusing on profits rather than eyeballs and investments.
And then there’s the recent book by Gabriel Weinberg and Justin Mare called Traction in which they interview other illuminated entrepreneurs who then talk and examine how they got traction and growth. This concept has recently been referred to as Growth Hacking in which developments take place as new technology and methods of using big data and social connections, literally allow developers to hack growth into their company success. Many of the ideas that first work have somewhat of a shelf life as they sometimes exploit new technology such as Hotmail or Facebook etc. that results in very early growth that then gets closed down by the companies facilitating the growth since they too wish instead to exploit and capitalize on these sometimes great but exploitative business models.
Hacking growth is something every business would like to do, most of us dummies can build a business and any retard can advertise on Google, Facebook, or even now Twitter to try and gain new business growth, but who wants to pay these Goliath’s who’s aim is to suck out of your business all the profits available. If you want to learn about the latest Growth Hacking possibilities we are exploring, you might want sign up to our email list as we will be sharing some further insights in our next email post entitled Hacking Twitter For Fun and Profit!
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Hacking Growth is what SEO is all about and what most of our customers have been involved with. That’s the model of hacking Google’s natural results and getting your business in front of the multitude of people searching Google for the products you sell, and not paying Google extra enormous amounts for the privilege. Sure Google go to great lengths to demonize the crowd that they catch who are engaged in hacking Google for growth and while many have become fearful of the Goliath’s long arms and lack of leniency or mercy when dealing with growth hackers, the pursuit of gaining traction for your business remains the most important challenge for any startup or entrepreneur who should never be shameful of getting caught in the process of trying to do the best thing for their business in a rough world where the Goliath’s are big enough to eat any competitor in their way.
Check out this other book called traction.