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Hey Reader, How quickly can you explain your business model? When a creator I was talking to recently spent several minutes trying to explain what their business does, I knew they were in trouble. They were trying to carve out an entirely new market category while simultaneously creating a completely custom delivery method. Two innovations at once. Not surprisingly, they were struggling to scale. They couldn't explain their offer clearly, potential customers were confused, and they felt overwhelmed. I’m a big fan of copying. But I’ve noticed that a lot of creators think copying is cheating. There's this belief that business success requires being completely original. That you need to invent something the world has never seen before. That's backwards. The fastest way to fail is trying to be too creative with your business model. When you reinvent everything from scratch, you create problems that don't need to exist. You can't communicate it clearly. Your audience doesn't understand what you're selling. You can't find people to hire because the skills are too unique. You also struggle to find mentors because no one has done what you're attempting. This isn’t to say there's never a time to innovate though. There's a quote I love: "The reasonable man conforms to the world. The unreasonable man expects the world to conform to him. Therefore, all progress is dependent on the unreasonable man." – George Bernard Shaw I believe innovation matters. But successful creators tend to innovate in just one area. Not multiple. If you're going to innovate, and your business has four key components (for example: audience, product, delivery method, and pricing model), pick one area to innovate. And then trust proven approaches for the other three. Ask yourself: "Where can I have the biggest impact?" Maybe you innovate on the product but use a standard course delivery method. Or you use a proven product format but target an underserved audience. Go with one area of innovation if you really need to, not four. How to not reinvent the wheelWhen you build on established frameworks, it’s so much easier to communicate what you do. You can explain in seconds instead of minutes, and you can find people who already know how to do the work. Here’s the framework I’d use: 1. Find proven models that work across industries 2. Identify hireable skill sets 3. Research mentors who've succeeded before you 4. Pick your single innovation point The goal isn't to be completely unoriginal. It's to be original in the place that matters most while trusting what already works everywhere else. PODCASTWhat 16 Years Running a Creative Business Really Teaches YouMy friend, Frannie Wilson, is back on the podcast for a special episode. I'm interviewing her for my upcoming book, The Ladders of Wealth. After 16 years of running Ampersand Studios, Frannie shares how she’s reinventing her business after buying out her longtime partner and what it really takes to step out of day-to-day operations. We dive into scaling an agency without burnout, delegating fulfillment, and using systems and culture to position a team for growth. If you're trying to step back from doing all the work yourself and actually be the CEO, this one's for you. KIT FEATUREDiscover creators in your cityKit's Recommendations feature now includes location filters. You can search for creators in your area to find collaborators, plan meetups, or just see who's nearby. Connect with local collaborators for projects, grow your audience together, and turn online connections into real-world community. Set up Recommendations to start connecting with creators in your city. Don't have an account yet? BOOKThe Compass WithinMy friend, Robert Glazer, just released a new book called The Compass Within. It's about figuring out your core values and using them to make decisions. "If I asked a room of 100 people to list their core values, only two of them could do it. That's why I spent three years writing and editing this book." –Robert The book walks you through how to identify yours, and he also gives you a free workshop when you buy it. Have a great week! —Nathan |
I'm a designer who turned into a writer who turned into a startup CEO. My mission is to help creators earn a living. Subscribe for essays on building an audience and earning a living as a creator.
Hey Reader, If you want to understand how someone thinks about money, ask them these three questions. I've used these in presentations, in one-on-one conversations, and on myself. The questions are simple but the answers usually aren’t. Here they are: Question 1: What's your earliest memory related to money? A while back I asked this of my in-laws. We were all hanging out, and my mother-in-law and her older brother started sharing memories from childhood of selling produce door to door. It...
Hey Reader, People who say money doesn't buy happiness… …have never seen the giant smile on the face of someone riding a jet ski. Of course, what they mean is that more money doesn't automatically mean more happiness—which is true. But the lack of money does real damage to people. Not just materially but emotionally. I know this firsthand. I spent a lot of my childhood experiencing what financial stress does to a family. My favorite place in our house growing up was the 4th step from the top...
Hey Reader, When I was in Mexico last month with the Kit team for one of our retreats, I led a session on how to make decisions. Specifically, how to make better decisions faster so you can have a bias for action. I walked the team through some of the tools I use all of the time, and I figured you might find them useful too. Here are 5 of my favorite decision making frameworks: 1. Does this get better or worse with time? When you're stressed about a problem, ask yourself two questions: Does...