(2020-01-21) Perell Audiencefirst Products

David Perell: Audience-First Products. The Internet swallows up an increasing percentage of our leisure time, but people under-estimate the economic opportunities it presents — even for college seniors. First, I discovered a better way to find a job. Then, I used the Internet to build my business. What follows is the three-step process I’ve used to create professional opportunities online

Step 1: Build an Audience

Sharing ideas attracts like-minded people, who double as a feedback loop to make you smarter and more interesting.

Define your interests. Then write about them. When you find a group that resonates with your writing, write more for them, if they’re the kind of people you want to connect with. (interest graph, warm niche)

Define your own intersection of ideas by writing about topics nobody else is writing about, and putting a name to your perspective.

When you write about a specific topic, you’ll find common challenges which double as areas of entrepreneurial opportunity.

Step 2: Build a Product (Stair-step)

There are problems everywhere. Nearly every service could be delivered with more joy, in a more efficient manner. Study any industry for long enough and you’ll find ways to improve it.

Step 3: Scale with Software and Contractors

If you know how to code, you can build your own software. If you don’t, you can automate repeatable processes with tools like Zapier. But beware of chasing automation too fast.

If you can’t automate a process with software, you can delegate it with contractors and personal assistants

Why now?

First, it’s easier than ever to build an online audience. (content marketing)

Avoiding competition is the best way to build an Audience-First Product. You must solve problems other people aren’t trying to solve.