Lessons from $0 to 7 figure revenue -- 13 principles to level up as an entrepreneur

daprophecy

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Heya, I'm Jeff 👋 one of the founders of Paragon (an activewear brand). We're bootstrapped, 100% remote and have scaled from $0 to 7 figure revenue. Here's last90d sales as proof.

I'm posting today about lessons learned on how to produce crazy results with the least amount of effort. This is my approach to entrepreneurial productivity. I hope you can use this to level up your work on your own ventures.

For context, if there was a competetion between me today and me from 2017 to see who could accomplish the most in 6 months, I would shit all over 2017 version of me. It wouldn’t even be a contest. Mike Tyson vs. your grandma. 👵 Below are the principles & tools I learned/adopted between 2017 and now.

Principles​


1.🙅‍♂️ Aim for “no day job”
  • I aim to not have a day job with my company. This doesn’t mean I don’t find high value projects to work on, it means I’m not required or involved much in the day-to-day activities of each department.
  • You are the main person responsible for having trajectory-altering insights. Want to know when these don't happen? When you're in the weeds of a day job.
  • This is key. You cannot be drowning in tasks daily. You need the blank space to be able to stumble into, and explore, a trajectory-altering opportunity.
  • If you’re just starting out, this does not apply to you. You should focus on creating a manual valuable process, doing everything yourself, before getting out of the day-to-day.


2.🔧 Create leverage
  • Build systems, then automate or hire.
  • Use money to make something that’s working happen at a bigger scale, or happen faster (e.g. scaling purchase order size of a best seller, scaling marketing spend on a profitable return).
  • Know the best points of leverage and apply force accordingly.‍
3.🧪 Minimum viable everything
  • Whenever I want to do something, I ask myself “What is the simplest, fastest way I can try to get the desired result?”
  • Your earning power as an entrepreneur is directly proportional to your ability to come up with simple & cheap experiments that test ideas ⏩ fast.
  • Get to the “live testing” phase of any project as soon as possible, and let real world feedback guide you.
4.🔋 My formula for getting energy from work:
  • 1️⃣ Know where you want to be & have a Believable plan to get there.
    • By Believable, I mean you’ve got some pretty solid real-world proof (not just hunches) that your plan will work, and you understand why.
    • If you don’t have a Believable plan, your job is to make one. This is the #1 job of a leader.
  • 2️⃣ Be decisive - most decisions don’t matter much. Being decisive builds a sense of momentum.
  • 3️⃣ Use leverage - delegate, spend money, or use technology in order to make things happen without you, happen faster.
5.✋ Don’t do work:
  • Below your hourly rate
  • That you really don’t like
  • That someone else could do much better
6.🏃Sprint model
  • The forty hour week was invented for the industrial age. It does not work for knowledge workers. It is a relic. Forget about it.
  • If you try to do 8h straight on task of knowledge work, what happens? Your quality of work degrades rapidly or you take breaks anyways (e.g. find yourself staring out the window). A big opportunity is to be more strategic about your break use. You’ll get more done AND have more free time.
  • I do 1 hour or 30min work sprints. I use a timer (described below). No distractions. I go deep. Sprints are followed by short or long breaks depending on how many I’ve done.
  • I don’t do anything too indulgent on my breaks, like start a movie or play video games. I don't do anything that would be hard to stop. Usually I go for a walk, eat, meditate, talk to someone, or read for a few.
7.🌟 You get 3 to 4 peak quality hours per day
  • I used to not believe this, but have found it to be true when comparing the clarity and speed of my thinking at different times of the day. For me, an hour of work at 330pm is not the same as an hour of work at 800am.
  • Know when your peak hours are and build your work day around them. Mine are first thing in the morning, approximately one hour after waking, so I front load the day & do my most important work first thing in the AM.
8.👔 Work like a Professional
  • I’m a Professional (head nod Steven Pressfield), which means my butt is in seat at my scheduled times, whether I feel like it or not
  • This is especially true on days where I slept 3h or something. I double down on getting time in early, knowing I’ll be mentally impaired later.


9.🗄️ Concept: Eisenhower Matrix
  • A great way to categorize the types of work that come your way.
  • Ruthlessly delete/decline/indefinitely shelf work.
  • Understand that work which is important but not urgent is where great gains can be either achieved or missed.


10.🔬 Limit your focus
  • Narrow focus to one or two major projects at a time if they’re going to require heavy lifting. E.g. if you’re building something you’ve never done before. Don’t try to learn 3 new marketing channels at once. If you’re feeling overwhelmed, prioritize and narrow.
  • Focus on delivering excellent quality work for those one or two major projects, then snoozing or terminating them once complete. This keeps mental RAM clear & improves work satisfaction.


11.🚫 Restrict your hours
  • Periodically, I like to work restricted hours. It keeps my "hour to value output" ratio high, and encourages me to think in these terms. The game is not about hours, it is about value. The world rewards you for value created, not hours worked. This is an amazingly liberating fact.
  • Restricting hours is also about setting boundaries - e.g. I will not work after 400pm. This has been key for keeping energy high.


12.🚀 Decisions follow a power law
  • Most don’t matter, but a few great decisions per year can be chiefly responsible for your success (head nod Peter Thiel). Another very exciting fact.
  • A few of the right things in place can be the difference between $1m and $20m.


13.🧮 80/20
  • Another pointer to non-normal distribution of inputs and outputs. A majority results come from minority efforts. Identify those critical few and focus on them.
  • I use this all the time. E.g. the majority of your email revenue will come from a minority of your automations.
  • It’s about the idea, not the specific ratio.


Tools​


Principles are more powerful than tools. You can build a multi-million dollar business with just a handful of personal tools. The stuff I use below is pretty basic, but they're all I need. Again, this is geared more towards productivity as an entrepreneur than domain-specific work tools. I.e. I'm not going to talk about the app I use for returns or Facebook ads here.

📝 Time Tracker Sheet
  • I’ve been tracking my time for about 1.5 years. It takes me a few minutes to do and goes well with the sprint model of work. If you’ve only got 3 or 4 peak quality hours per day, it’s a good idea to know where they’re going.
  • I created this sheet to help me track it easily. ➡️ Download the worksheet here.
    • Then select File —> Make a copy.
  • How to use it is a pretty self explanatory with the examples populated in the sample sheet, but here’s a couple of important pointers:
    • 1️⃣ Create a list of what you want to accomplish for the day (not what you want to do).
      • Don't write: Work on setting up A/B tests-
      • Write: Get A/B tests live by the end of the day- This is a subtle but very important distinction. It prevents Parkinson’s Law, keeps you focused on real milestones rather than hours worked.
    • 2️⃣ Eat that frog 🐸 — don’t start with emails or light shit, start with a needle mover. Why? Builds in a win for the day, no total losses. Prevents a situation where you look back on the last month and feel you haven't actually done anything important.
    • 3️⃣ During your peak hours, do not do work as it comes to you. E.g. when you get a Slack notification or whatever. Stick to your original plan unless you consciously decide to reprioritize.


⏲️ Timer RH
  • I use this for my sprints. I usually float it on top so that it serves as a reminder to stay focused.
  • When timer runs out, you take a break.
  • In general, try to stop working & take a short break when the timer goes off. I’ve found my quality of work is reliably better even after 10min of stepping away. It’s a great way to avoid rabbit holes and zoom back out.


📒 Apple Notes & Stickies
  • I use Apple Notes because it’s free, works great and syncs readily across devices. I think I have 3,500+ notes. I break them up into folders by category (e.g. Paid Social, Influencers, Media) etc. I use this app & folders for personal shit too (Cooking, House, Training etc)‍
📥 Things
  • The app I use for my simplified GTD method. The main reason I like it is because it does a great job with the small set of features you really need, is highly intuitive & not bloated with shit I don’t care about.
That's my pile of hard-earned gold nuggets! I personally guarantee that it will make you one billion dollars this year if you use them (two if you share what works for you).
 
@thestarside It depends on the project but there are many ways to connect to an audience. You just have to know who you’re looking for and where they hang out.

Because we’ve been around for a minute, we have a decent sized customer list, email list, IG following, influencer network etc that makes it easy to get real world feedback from them.

If you don’t have these things, you need to be a bit more creative. For example, with another business idea I was playing with, I was able to find the audience I wanted by looking on Goodreads for people reading books related to my idea. I just messaged them, was polite and asked for feedback. Got what I needed.
 
@daprophecy
I just messaged them, was polite and asked for feedback. Got what I needed.
  1. What was your business idea?
  2. What was the feedback against? An MVP? Or just a description of a concept?
  3. What feedback were you looking for? I am on my third company from scratch and the issue I've struggled with is that at the beginning a lot of users say "Yes! I love your idea" and when it comes to pay me, they ghost me
 
@thestarside
  1. It has to do with mental models and psychological well-being
  2. You might be able to call it an MVP. It was a landing page advertising a content product. People could preorder/reserve a slot. I got one preorder (ouch) and I wanted at least 20 to create it from cold prospects that I don’t know. The product was positioned as an educational course and I’m not sure that was the right format. I still believe there could be demand for what I want to create, just backburnered for now.
  3. I was looking for purchases. I don’t believe it when people tell me they like my idea. I try not to tell them I have an idea at all. Instead you want to ask them about past behavior (or ask them to buy, if you have an MVP). Check out the Mom Test by Rob Fitzpatrick for more on this, I’m doing a shit job describing it but it’s very useful and I think would help you.
 
@daprophecy Seconding “The Mom Test”, it's so important to be aware of confirmation bias and leading and how it can undermine the credibility of any assumption test.
 
@daprophecy I'm curious to know how you entered and stayed in a market with so many established competitors. Was it mostly based on a higher demand during lockdown + good marketing or a good value proposition?
 
@harri67 Sometimes, I am curious about that too lol. Activewear is unbelievably crowded and many of the products out there are quite commoditized. I'd have to think more about it to give you an answer I was satisfied with, maybe that would be a good future blog post. But value prop & marketing both definitely played a very big role.
 
@daprophecy In terms of finding your target audience, have you tried Facebook groups? Our b2b saas targets landscapers and us being landscaper ourselves join some larger fb groups. We learn a lot from others how they run their lawn care business. These learnings help us plan for our next product dev cycle. We're also able to bring some traffic back to our landing page with posts that provide values to the group. What's your take on fb groups in general?
 
@zachariahs That's a good thought about Facebook groups. Would love your take on this -- how hard has it been for you to find good quality landscaper FB groups with big + engaged audiences? In my experience, finding the best groups can be like finding needles in haystacks. Maybe it varies a lot by industry.
 
@daprophecy We initially joined a couple landscape owners groups. We'll mention our app, things like we have an instant price quote feature that helps us as landscaper. We now also made an app for others. The admin or members would report us (just guessing) cos we got kicked out. Then we realized we should bring values. We created some Google sheet that calculates sod, planting, etc pricing. We'll post it and don't mention our app, it leads to very good traffic. This is our landing page https://app.houseofyards.com
 
@thestarside As a UX guy I can tell you that customer research is a very tricky thing. There is a lot of psychological factors going on, but the main one to remember is that almost all people will tell you what you want to hear. Everyone has like an “expected answer” that we default to.

If you ask someone “hey do you like what I made?” The expected answer is always going to be YES!

If you ask someone if they read more or watch TV more, the expected answer will always be “oh I read a lot, TV rots your brain!”

That’s why put your money where your mouth is is just such an important and true statement.

Money speaks the truth. Is someone will pay you, then they ACTUALLY like your product.
 
@daprophecy For me, I'm not nearly at the level as you. I'm a sole proprietor (looking to potentially scale)

My business success has been built on a few concepts. I work with HS students, and the goal of my business is to help students get into the college of their choice and earn merit money for college.

I promise to treat my students the same way that I treat my own children ( I have three that earned full rides in college) I'll encourage them, push them, find what motivates them to be successful.

I'm highly communicative with parents who are footing the bill for tutoring. They know and understand that I have their child's success as the number one goal.

When successful, I be sure to brag about their child via social media (where appropriate). Because of this, I have become highly recommended and have worked with students in 43 states. Friends, classmates, teammates, etc.

Success, honesty, and communication have been my pillars of success and growth.
 
@daprophecy Your corporate address is listed as a residence with a fairly significant value estimate. Is it safe to assume that you come from a well-to-do family? How much of an impact does your family have on your ability to finance this business without external capital?

It's clear that you're passionate about what you're doing and that you want to share your story with others. I just think it's good to have some context.
 

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