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Seeking Wisdom with David Cancel

07: Noah Kagan

Seeking Wisdom with David Cancel

Molly Sloan

Business, Entrepreneurship

5610 Ratings

🗓️ 20 April 2016

⏱️ 52 minutes

🧾️ Download transcript

Summary

If you liked this episode, we bet that you’ll love our blog content. blog.drift.com/#subscribe Subscribe to never miss a post & join the 20,000+ other pros committed to getting better every day. --- A few weeks ago, the Drift team went down to Austin, TX for some team bonding and tacos. While we were there, David and I stopped by AppSumo to catch up with Noah Kagan and thought it would be fun to record a podcast. We talked about everything from the biggest mistake startups make, to morning routines, favorite books, and the importance of surrounding yourself with better people. Tweet about this episode right now by clicking this link: http://ctt.ec/7B0RG Every now and then, we send an email exclusively for Seeking Wisdom listeners. You can get on the email list here: http://go.drift.com/seeking-wisdom David on Twitter: https://twitter.com/dcancel Noah on Twitter: https://twitter.com/noahkagan Dave on Twitter: https://twitter.com/davegerhardt stay #seekingwisdom

Transcript

Click on a timestamp to play from that location

0:00.0

That was good.

0:01.8

Yeah, that was really good.

0:02.7

I hope you all paid attention to that.

0:04.4

I would like to take attention.

0:05.8

Yeah.

0:14.3

What's up, everybody?

0:15.2

Thanks for listening to another episode of Seeking Wisdom.

0:18.2

A couple weeks ago, the whole drift team went down to Austin, Texas,

0:22.2

to do a little offsite hang out for a couple days. And while we are down there, David and I

0:27.0

went over to visit Noah Kagan and the crew over at Apsumo. And we hung up with Noah for about an

0:33.5

hour, recorded a podcast that was all over the map talked about learning favorite books

0:38.9

what david and noah do in the morning the things most startups get wrong and a bunch of other

0:43.5

stuff i think you're going to enjoy this one uh so here it is uh here is david cancel and noah kagan

0:49.4

on seeking wisdom what's what's the number one thing people get wrong when startups? They're all marketing. Just say like with a startup. The most obvious thing that I was just talking to someone on the phone about this, the number one immediate thing is they don't make money. That's the most immediate thing. It's a business, not a nonprofit. And everyone's like, everyone plays business.

1:27.6

So a friend of Ryan told me, it's like everyone's playing business. They get a tool. They're using all these tools. They're reading all these blog posts. But they're not actually trying to make money. Right. And so it's like how do they accelerate that time or minimize that time to actually get money and validate that someone wants the idea, service or product that they're building that a product of, like, just this culture, like this startup culture where it's like, oh, you don't have to make, you don't have to make money on day one. Whereas, like, if you started like a hardware store and you didn't make money, you'd be like, fuck, I'm out of business. Yeah, good, but I don't know. my answer was going to be similar, which is like mental masturbation.

1:45.5

Did I still your mind? So I stole David's answer. I want to apologize to everyone listening.

1:49.4

Yeah, just like mental masturbation, whether it's like reading or doing or not starting or starting and then playing and like just not realizing that it's a business and that you have a timeline and that, you know, whether you

2:01.2

like bootstrap it or self-funded or you're on the other extreme and you raise money, not knowing

2:06.9

that it is a business, right? And so even on the extreme end of people who raise a lot of money,

2:10.9

talk to so many of them and they don't realize that they have to return money someday, right?

2:16.1

Like that that's the flip side of that equation, like someone's expecting money, right? But the problem with everyone listening. Is it a podcast or what is this going on? A podcast. Okay, wow, it's a pod and a cast. Okay. Yeah. So the thing that... You've never heard of them. No, this new technology. Yeah. I'm still on tapes. So here's the thing that's crazy, David.

2:34.5

And I think you've noticed this.

...

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