David Perell

David Perell quotes on starting a company

"The Writing Guy". He tweet about business, online learning, and Internet writing.

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1

When you first start a company, you need Swiss Army Knife people who can do a little bit of everything. Once your company gets big, you need a bunch of kitchen knife people who do one thing very, very well.

2

If you want to learn writing, skip class and start a blog. If you want to learn marketing, skip class and build a business. If you want to learn psychology, skip class and spend a day in a casino. Reality is the world’s best classroom.

3

A three-step process to starting an online business: 1) Build an audience. 2) Build a product for your audience. 3) Scale the business with plug-and-play software instead of hiring people. The audience comes first. The product, second. I've seen hundreds of people do this.

4

Build a business that gives you more free time as you grow

5

Past: "Every company is a tech company now." Future: "Every company is a media company now." Three reasons why: 1. The entire media business is inverting. 2. Content and commerce are converging. 3. Marketing and entertainment are the same thing now. Media is eating the world.

6

Free business idea. Now that companies are going remote, help companies build internal podcasts. The podcast would focus on: - How decisions are made - Quarterly priorities - Industry 101 - Business models - Long-term goals and company vision Fun and efficient for everybody.

7

Online education is a rocket ship. Some second-order effects: 1) Somebody will build a billion-dollar homeschooling business. 2) Teachers will look more and more like entrepreneurs. 3) Online education and remote work will mirror each other and accelerate both trends at once.

8

A lesson from Warren Buffett. Industry selection is a competitive advantage. For example, restaurants are notoriously difficult businesses so you should probably avoid them. Look for easier waters instead. The pond you jump in is more important than how well you can swim.

9

To future entrepreneurs: start writing online. No matter what kind of company you want to start, it pays to have a smart and targeted audience. Writing will help you build credibility, meet investors, and find future co-founders. Invest in your future

10

When starting a company, choosing your industry is 10% of the work but determines 50% of the outcome

11

Schools are moving online. Ship Fast, Ship Often: Traditional school is too passive. Students learn best when they make things. The more students create, the faster they’ll learn.

12

If you want to start a business, writing online is the best way to start. Writing online makes marketing easier. The people who read your writing now will become your customers in the future. An audience will speed up your path to profitability.

13

If you’re starting a business, solve problems other people aren’t solving. Don’t copy. Competition makes marketing expensive. But differentiation is free marketing.

14

The school I want to build: 1) Start writing 2) Build an online audience 3) Start a company in your niche Graduate once you have a profitable business.

15

Starting a business in college gives you an advantage because everybody likes helping students

16

If you want to start a company, look for an important problem that people can’t measure so you can build for years without competition

17

Business school of today: Learning about business. Business school of tomorrow: Starting an actual business.

18

2010s: Every company is a tech company. 2020s: Every company is a media company.

19

Tweets build relationships. Tweetstorms build followers. Email subscribers build businesses.

20

Writing online teaches you entrepreneurship because the skills you need to build an audience are the skills you need to build a business

21

You can build a big business with only one marketing channel. Focus first, diversify later.

22

Online teachers will become investors. Teachers will break even on education, and make money by investing in their pipeline of students who want to start companies.

23

Productize your expertise. Step 1: Gain experience by working for somebody else. Step 2: Start your own consulting business. Step 3: Now that you have experience and extra time, write about what you’re learning. Step 4: Turn that knowledge into a scalable online product.

24

If you write online and plan to start an Internet business, the biggest mistake you can make is waiting years to start an email list

25

Train to build your business like Michael Jordan trained to play basketball.

26

School idea: Start a business. You have a group of peers and mentors. You can start whatever business you want and you have one year to do it. It’s costs $0 to start an online business. If you fail, it’s the fastest learning of your life. If you succeed... well... you win.

27

If you’re starting an online business, establish your own category. 1) Find your competitive edge. 2) Pick an industry without strong competitors where you can differentiate yourself. 3) Build your name by publishing the best of what you learn. Brand-building 101.

28

Here’s a playbook for coaches and consultants: 1) Find your first clients. 2) As you work with them, you’ll find to the common problems. 3) Scale your knowledge by creating an information product. People will pay-up for well-packaged information. Learn. Build. Sell. Repeat.

29

Things I believe: 1) Building a business can be a blast and shouldn't feel like banging your head against the wall. 2) Learning to surf the waves of information abundance is a top-5 skill you can learn. 3) You can write much more while spending much less time on your computer.

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