Ankesh
December 24, 2009, 02:23 AM
Thanks Michael for sharing those links. Great refreshing the memories. That thread is a must read - especially Linda's and Dien's responses.
Thanks Matt for posting a tough hypothetical question.
My advice would be: start something simple. That can be scaled.
Simple and scalable = can get you out of any mess without your having to work hourly jobs at McDonalds or Homedepot.
One awesome article I read recently:
The taste that launched a 1000 parking tickets:
http://www.pinkberry.com/press/50/162-the-taste-that-launched-1000-parking-tickets.html
Its about how Hyekyung Hwang started selling frozen-yogurt. She only sold 2 flavours. And she sells it for $4.95 - a very high price for frozen yogurt! But because she fills a gap in the market - "healthy as well as tasty frozen yogurt" - people from all over the place come to buy from her! She serves 1300 to 1600 people a day! (Which puts her profit over $4000 per day!) And she's achieved all this from a poor location.
Action Summary:
1. Find a simple need in the market place.
2. Focus (http://74.125.153.132/search?q=cache:91X1ePkcqSoJ:www.mondaymorningmemo. com/mmmredirect.asp%3Fid%3D577+http://www.mondaymorningmemo.com/+focus+and+intensity&cd=1&hl=en&ct=clnk) and meet that simple need. Get rid of all the distractions and add ons and advice - and yes - even possibilities.
3. Promote like crazy.
4. Scale up.
Thanks Matt for posting a tough hypothetical question.
My advice would be: start something simple. That can be scaled.
Simple and scalable = can get you out of any mess without your having to work hourly jobs at McDonalds or Homedepot.
One awesome article I read recently:
The taste that launched a 1000 parking tickets:
http://www.pinkberry.com/press/50/162-the-taste-that-launched-1000-parking-tickets.html
Its about how Hyekyung Hwang started selling frozen-yogurt. She only sold 2 flavours. And she sells it for $4.95 - a very high price for frozen yogurt! But because she fills a gap in the market - "healthy as well as tasty frozen yogurt" - people from all over the place come to buy from her! She serves 1300 to 1600 people a day! (Which puts her profit over $4000 per day!) And she's achieved all this from a poor location.
Action Summary:
1. Find a simple need in the market place.
2. Focus (http://74.125.153.132/search?q=cache:91X1ePkcqSoJ:www.mondaymorningmemo. com/mmmredirect.asp%3Fid%3D577+http://www.mondaymorningmemo.com/+focus+and+intensity&cd=1&hl=en&ct=clnk) and meet that simple need. Get rid of all the distractions and add ons and advice - and yes - even possibilities.
3. Promote like crazy.
4. Scale up.
