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🎙 What it takes to build a brand:
- I knew the brand, Wild Foods, but I didn't know their Founder and CEO until earlier this year when I was invited on their podcast. Since then I've gotten to chat with Colin a number of times, most recently on my podcast this week. I got to learn about his journey to the Carnivore Diet as well as how he built Wild Foods from the ground up - including how he got the idea for the company, how it went from $0 to $1M+ with remarkable speed,
and how he built a brand that has lasted in a competitive market. If you are an entrepreneur, side-hustler, or creator, I think you'll take home some gems in this podcast. (Apple / Spotify / others)
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📱 What idea didn't work:
- Speaking of business, in April I mentioned this new company, Quibi, trying a new format for watching TV: smartphone-only, 8-10 minute shows. I thought it might not work. But I love ideas that "might not work." It means you're traveling in uncharted territory and willing to take a risk on something new. And it didn't work. But Quibi gives us some good startup lessons.
- Lesson #1: Make something people want. To do this, it's essential to deeply know and understand your customer. The startup world is full of failed companies that built something awesome that no one wanted.
- Lesson #2: You can't just buy your way to success. Quibi raised nearly $2 billion. They had some of the biggest names in Hollywood promoting it. But at the end of the day, the market decides what it wants.
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⚒ What is hard work:
- One reason I found Quibi interesting is that it's rare for a high profile CEO as well as celebrities to take a risk like this. Early work is hard. Nobody wants to create a lame product. No one wants to fail. And most people don't. Because most people never start. I admire anyone courageous and vulnerable enough to create something that they might be embarrassed by, something
that "might not work."
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🚫 What the CEO of "No" says "Yes" to:
- While we have a business / CEO theme going, might as well talk about the CEO of "No." Andrew Wilkinson has over 30 businesses with a combined 600 employees. But (like me) he doesn't like to be on the phone that much. He won't do but 2 or 3 meetings a day. He actually has templates to politely say "no" to a myriad of requests. He says "no" to doing
things he doesn't want to, delegating tasks and work he doesn't enjoy. Basically he says "no" to anything that doesn't fit his vision of success, which leaves room for him to say "yes" to the life he wants to lead. Fascinating interview / person.
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🧠 What quote I've been thinking about:
"In matters of style, swim with the current.
In matters of principle, stand like a rock."
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💲 What was a big step-forward towards a bitcoin future:
- PayPal announced it was integrating bitcoin. Users can access it directly from their accounts. This is a big deal. PayPal is huge. It has about 350M active accounts and is used by many retailers (26M merchants). A chief criticism of bitcoin is that it can't be used. That it's just a store of value. But grabbing your next cup of coffee with bitcoin just got streamlined. Perhaps not surprising, bitcoin has been soaring this week.
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1️⃣ How to use life-hacks:
- One sentence life hacks.
- Note: I disagree with a few of these. But I like the sentiment that most things are unnecessarily over-complicated. Drill down to the core. Simplify. Answers tend to be easy. Questions and action tend to be hard.
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As always, it's an absolute pleasure and an honor getting to spend some time with you, hope you have a great weekend!
Kevin
A Saturday morning roundup on health and wealth, art and science, creativity and innovation, laughs and life by Kevin Stock.
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