Welcome to another edition of our new newsletter! You’ll receive the best practical startup advice straight to your inbox every week.
In this week’s edition, we discuss:
- How to create courses that print money while you sleep,
- Running a £3 million per year creator business,
- Why all founders need to know about accounting,
- The current state of play in the crypto markets .
A digital course can provide job-quitting income. But most new creators have no idea how to build and market them. Thankfully, Jon Brosio has studied the courses and funnels of the internet’s highest-earning course creators, and has boiled it down to 7 key ingredients, including;
- Utilize various traffic sources — if you can’t get your course in front of eyeballs, it doesn’t matter how good it is.
- The WHO, WHAT and WHY need to be immediately clear to someone who finds themselves on your landing page.
- No one will promote your course for you, unless you ask them to.
- Name and claim your category to differentiate your course and make it stand out and appear unique.
Justin Welsh has become something of a superstar on Twitter and LinkedIn in the past couple of years with over 100k followers and 200k followers respectively. His online courses have flown off the shelves too and he’s a great example of a creator who effectively monetized their content. Listen to the episode for a deep dive into the reality of how he works, here are some of the highlights:
- Don’t be afraid to suck — people think he’s made no mistakes but that’s just because he’s deleted them!
- Deliver consistent value through templates — there are no awards for working harder than you need to.
- Find your tribe because entrepreneurship can be incredibly lonely if you let it be.
- Learn your boundaries for burnout and respect them.
If seasoned angel investor DC Palter could recommend founders study any book, it isn’t the usual pick (looking at you, Lean Startup). It’s an accounting textbook. Because, as Palter writes, if you don’t understand accounting, you won’t even know if your startup is succeeding or failing.
- “But I can hire an accountant!” — Accounting is more than paying bills and taxes; it’s the process of analyzing the health of a business, and every founder needs to understand it.
- Running startups involves daily experimentation — understanding the numbers tells you what’s working.
- The P&L, balance sheet, and statement of cash flows show where you’ve been and where you’re going.
- Investors want the real numbers — When pitching, founders need to know the figures, and be able explain how the business runs.
We’re pumped to share Arthur Hayes’ latest piece; a deep dive into the current state of the crypto markets (the tl;dr is that it’s not good) and where we’re going next (the tl;dr is that it should get better). In a piece that “chart porn” fans will love, Hayes discusses,
- The damaging effects of inflation and rate hikes on the crypto market, and why it’s stunting it’s growth.
- The Terra saga, and whether we’re at the bottom of the current bear market.
- Why he’s confident that the $25,000 — $27,000 zone for Bitcoin is this cycle’s bottom.
- Why the politics and macroeconomic picture must coalesce before the crypto market can march meaningfully higher.
Author: Entrepreneur’s Handbook