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The comment has over 200 upvotes, which means people found it useful.I decided to add more thoughts, refine existing ones, and put it in a permanent place.Get as many distribution channels as possible- There is some weird sense that if you build something they will just come. Each one by itself may not be large, but if you have many it starts to add up. If you’re a 100% SEO play, you’re playing a dangerous dangerous game. Go with your gut and do not care about fameballing- Go with what your gut says, regardless of how it might look to the rest of the world. Be an unrelenting machine– Brick walls are there to show you how bad you want something. If your goal is to become a millionaire, you need to be an unrelenting machine that does not let emotions make you give up / stop.That a few “like” retweet buttons and emails to [email protected] make your traffic explode grow consistently. Too often we (I) get lost in caring about what people think. Don’t worry about becoming internet famous or appearing on teh maj0r blogz. Commit to your goals and do not waver from them a one bit regardless of what else is there. You either get it done with 100% commitment or you don’t. If it’s a mass market “trend” that’s all over the news, it’s too late- This means the barriers to entry are usually too high at this point to have the greatest possible chance of success.Be so good they can’t ignore you- I first heard this quote from Marc Andreessen, but he stole it from Steve Martin.Just be so good with what you do that you can’t be ignored.Say no way more than you say yes- I bet almost every web entrepreneur has encountered this: You demo your product / explain what you’re doing and someone suggests that you do “X feature/idea”.
*/ Market opportunity– A million dollars is not a lot in the grand scheme of things, but it certainly is a lot if the market opportunity is not large enough.
Your primary metric shouldn’t be dollars- If you’re going after a big enough market and charging a reasonable amount, you can hit a million dollars.
Focus on growth, customer acquisition costs, lifetime value of the customer, and churn. You could easily replace the SEO example with: App store, facebook, etc. What they think matters and they will ultimately put their money where their mouth is. It did not matter if I had not slept for two days, traveling across the country, or whatever else.
It’s the ecosystem that’s currently happening with the paypal mafia and can be traced all the way back to fairchild semiconductor.
Charge for something– Building a consumer property dependent upon advertising has easily made many millionaires, but it isn’t the surest path.
You should give yourself every opportunity possible, especially as an entrepreneur where every advantage counts.