Tim Ferriss | How to Launch a Million-Dollar Business This Weekend — Noah Kagan (4K) @timferriss | Uploaded January 2024 | Updated October 2024, 3 hours ago.
Brought to you by:
LinkedIn Jobs recruitment platform with 1B+ users linkedin.com/tim
Eight Sleep’s Pod Cover sleeping solution for dynamic cooling and heating eightsleep.com/Tim
Shopify global commerce platform, providing tools to start, grow, market, and manage a retail business shopify.com/tim
Order Noah’s brand-new book: amazon.com/Million-Dollar-Weekend-Surprisingly-7-Figure/dp/059353977X/?tag=offsitoftimfe-20
Blog post for this episode: https://tim.blog/2024/01/23/noah-kagan-million-dollar-weekend/
Subscribe to Noah’s YouTube channel: youtube.com/@noahkagan
###
Noah Kagan was #30 at Facebook, #4 at Mint, and has since created seven million-dollar businesses (Kickflip/Gambit, AppSumo, KingSumo, SendFox, Sumo, TidyCal, and Monthly1k).
He is the CEO of AppSumo.com, the #1 software-deals site for entrepreneurs, and has a popular YouTube channel, Noah Kagan.
His new book is Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours.
Please enjoy!
[00:00] Preview
[00:40] Noah and his notable successes.
[03:21] Is Barcelona the new Austin?
[10:25] Legal hurdles to living/working abroad.
[14:29] Running an $80MM business.
[17:28] Noah’s negotiating basics.
[21:29] The chargeback maneuver.
[23:56] WIIFT (What’s In It For Them?)
[26:54] A recap of the coffee challenge.
[28:34] “Life punishes the vague wish and rewards the specific ask.”
[30:47] Other comfort challenges Noah recommends.
[36:15] Feedback is a gift.
[37:50] When comfort challenges aren’t appropriate.
[40:56] LOT (Listen, Options, Transition).
[42:22] Tracking metrics that matter.
[47:43] T3 B3 (Top Three, Bottom Three).
[55:18] Weekly reviews.
[58:17] The value of unambitious goals.
[1:02:37] Regrets of billionaires.
[1:09:37] My approach to book launches.
[1:22:55] Priorities: then and now.
[1:39:59] Finding a sustainable purpose.
[1:46:45] Do I still find my past work useful today?
[1:49:52] Testing the waters with new hires.
[1:52:27] Don’t forget to look in the rear-view mirror.
[1:53:20] Trust Noah’s advice in Million Dollar Weekend.
[1:57:00] Now, not how.
[2:00:35] What’s your freedom number?
[2:01:22] Getting your ask in gear.
[2:02:31] Counterintuitively, constraints catalyze creativity.
[2:05:40] Turning annoyance into opportunity.
[2:08:53] Does your intended market have value?
[2:11:48] Most profitable, elegant businesses are simple at their core.
[2:12:33] Entrepreneurs rise from the ashes of fired employees.
[2:14:53] Why you should start a podcast or business.
[2:16:01] “No solutions, only trade-offs.”
[2:16:47] Putting the idea to the test.
[2:20:49] Are you making this too hard?
[2:22:12] The Dream 10 as a test for market viability.
[2:25:14] Rejection as teacher.
[2:26:12] Deliver on promises first.
[2:30:27] The three Ws.
[2:31:32] AppSumo origin story.
[2:36:55] Early high-touch community building and scaling.
[2:37:09] The BrainQUICKENing.
[2:41:44] Finding underserved opportunities.
[2:44:01] Initiate correspondence with humility.
[2:47:35] Little ask, big ask.
[2:48:25] How do I handle rejection?
[2:51:01] Revisiting the Law of Category.
[2:56:28] How Noah handled a recent rejection.
[2:57:40] Dating circa now and learning optimism.
[2:59:38] How Pat seized opportunity in Poland.
[3:00:01] Free work?
[3:05:19] Behind the scenes of my Opening the Kimono event.
[3:13:31] Making sponsorship deals win/win.
[3:17:33] Streamlining business idea validation.
[3:21:36] Unorthodox simplicity.
[3:24:03] Better to be chased for money than chasing it.
[3:25:51] Best holiday purchases for under $50.
[3:33:39] Is competing for attention on YouTube worth it?
[3:42:41] Low-effort, high-reward YouTube experiments.
[3:48:28] Lessons learned from spending $1MM on coaching.
[3:56:34] Benefits of the board.
[3:57:13] How to take on the 48-hour challenge.
[3:59:41] What’s the DEAL with Cindy 10 years after meeting Noah and me?
[4:04:10] Parting thoughts.
Tim Ferriss is one of Fast Company’s “Most Innovative Business People” and an early-stage tech investor/advisor in Uber, Facebook, Twitter, Shopify, Duolingo, Alibaba, and 50+ other companies. He is also the author of five #1 New York Times and Wall Street Journal bestsellers: The 4-Hour Workweek, The 4-Hour Body, The 4-Hour Chef, Tools of Titans and Tribe of Mentors. The Observer and other media have named him “the Oprah of audio” due to the influence of his podcast, The Tim Ferriss Show, which has exceeded 900 million downloads and been selected for “Best of Apple Podcasts” three years running.
Sign up for "5-Bullet Friday" (Tim's free weekly email newsletter): https://go.tim.blog/5-bullet-friday-yt/
Follow the Tim Ferriss Podcast: https://tim.blog/podcast/
Visit the Tim Ferriss Blog: https://tim.blog/
Follow Tim Ferriss on Twitter: twitter.com/tferriss
Follow Tim Ferriss on Instagram: instagram.com/timferriss
Like Tim Ferriss on Facebook: facebook.com/TimFerriss
Brought to you by:
LinkedIn Jobs recruitment platform with 1B+ users linkedin.com/tim
Eight Sleep’s Pod Cover sleeping solution for dynamic cooling and heating eightsleep.com/Tim
Shopify global commerce platform, providing tools to start, grow, market, and manage a retail business shopify.com/tim
Order Noah’s brand-new book: amazon.com/Million-Dollar-Weekend-Surprisingly-7-Figure/dp/059353977X/?tag=offsitoftimfe-20
Blog post for this episode: https://tim.blog/2024/01/23/noah-kagan-million-dollar-weekend/
Subscribe to Noah’s YouTube channel: youtube.com/@noahkagan
###
Noah Kagan was #30 at Facebook, #4 at Mint, and has since created seven million-dollar businesses (Kickflip/Gambit, AppSumo, KingSumo, SendFox, Sumo, TidyCal, and Monthly1k).
He is the CEO of AppSumo.com, the #1 software-deals site for entrepreneurs, and has a popular YouTube channel, Noah Kagan.
His new book is Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours.
Please enjoy!
[00:00] Preview
[00:40] Noah and his notable successes.
[03:21] Is Barcelona the new Austin?
[10:25] Legal hurdles to living/working abroad.
[14:29] Running an $80MM business.
[17:28] Noah’s negotiating basics.
[21:29] The chargeback maneuver.
[23:56] WIIFT (What’s In It For Them?)
[26:54] A recap of the coffee challenge.
[28:34] “Life punishes the vague wish and rewards the specific ask.”
[30:47] Other comfort challenges Noah recommends.
[36:15] Feedback is a gift.
[37:50] When comfort challenges aren’t appropriate.
[40:56] LOT (Listen, Options, Transition).
[42:22] Tracking metrics that matter.
[47:43] T3 B3 (Top Three, Bottom Three).
[55:18] Weekly reviews.
[58:17] The value of unambitious goals.
[1:02:37] Regrets of billionaires.
[1:09:37] My approach to book launches.
[1:22:55] Priorities: then and now.
[1:39:59] Finding a sustainable purpose.
[1:46:45] Do I still find my past work useful today?
[1:49:52] Testing the waters with new hires.
[1:52:27] Don’t forget to look in the rear-view mirror.
[1:53:20] Trust Noah’s advice in Million Dollar Weekend.
[1:57:00] Now, not how.
[2:00:35] What’s your freedom number?
[2:01:22] Getting your ask in gear.
[2:02:31] Counterintuitively, constraints catalyze creativity.
[2:05:40] Turning annoyance into opportunity.
[2:08:53] Does your intended market have value?
[2:11:48] Most profitable, elegant businesses are simple at their core.
[2:12:33] Entrepreneurs rise from the ashes of fired employees.
[2:14:53] Why you should start a podcast or business.
[2:16:01] “No solutions, only trade-offs.”
[2:16:47] Putting the idea to the test.
[2:20:49] Are you making this too hard?
[2:22:12] The Dream 10 as a test for market viability.
[2:25:14] Rejection as teacher.
[2:26:12] Deliver on promises first.
[2:30:27] The three Ws.
[2:31:32] AppSumo origin story.
[2:36:55] Early high-touch community building and scaling.
[2:37:09] The BrainQUICKENing.
[2:41:44] Finding underserved opportunities.
[2:44:01] Initiate correspondence with humility.
[2:47:35] Little ask, big ask.
[2:48:25] How do I handle rejection?
[2:51:01] Revisiting the Law of Category.
[2:56:28] How Noah handled a recent rejection.
[2:57:40] Dating circa now and learning optimism.
[2:59:38] How Pat seized opportunity in Poland.
[3:00:01] Free work?
[3:05:19] Behind the scenes of my Opening the Kimono event.
[3:13:31] Making sponsorship deals win/win.
[3:17:33] Streamlining business idea validation.
[3:21:36] Unorthodox simplicity.
[3:24:03] Better to be chased for money than chasing it.
[3:25:51] Best holiday purchases for under $50.
[3:33:39] Is competing for attention on YouTube worth it?
[3:42:41] Low-effort, high-reward YouTube experiments.
[3:48:28] Lessons learned from spending $1MM on coaching.
[3:56:34] Benefits of the board.
[3:57:13] How to take on the 48-hour challenge.
[3:59:41] What’s the DEAL with Cindy 10 years after meeting Noah and me?
[4:04:10] Parting thoughts.
Tim Ferriss is one of Fast Company’s “Most Innovative Business People” and an early-stage tech investor/advisor in Uber, Facebook, Twitter, Shopify, Duolingo, Alibaba, and 50+ other companies. He is also the author of five #1 New York Times and Wall Street Journal bestsellers: The 4-Hour Workweek, The 4-Hour Body, The 4-Hour Chef, Tools of Titans and Tribe of Mentors. The Observer and other media have named him “the Oprah of audio” due to the influence of his podcast, The Tim Ferriss Show, which has exceeded 900 million downloads and been selected for “Best of Apple Podcasts” three years running.
Sign up for "5-Bullet Friday" (Tim's free weekly email newsletter): https://go.tim.blog/5-bullet-friday-yt/
Follow the Tim Ferriss Podcast: https://tim.blog/podcast/
Visit the Tim Ferriss Blog: https://tim.blog/
Follow Tim Ferriss on Twitter: twitter.com/tferriss
Follow Tim Ferriss on Instagram: instagram.com/timferriss
Like Tim Ferriss on Facebook: facebook.com/TimFerriss
