Failure is Not the Mother of All Success Pt. 2
Last week recap: We dived into the book "The Formula: The Universal Laws of Success" by Albert-László Barabási and discusses the importance of previous success to the next success.
This week, we will explain how you can obtain your first success, specifically in the area of business and entrepreneurship.
Of course, people always say that with persistence, hard work, and a little bit of luck, your first success will come. However, this newsletter will avoid these vague beliefs and instead discuss the topic in a more practical way.
Y combinator is a technology startup accelerator company. It gives birth to famous startups such as Airbnb and Reddit.
In its YouTube channel, it uploaded a video titled 50 Founders Share How They Got Their First Customers.
This videos interviews the successful entrepreneurs who emerge from Y combinator. Their fields range from finance to artificial intelligence.
Here is a short summary of how the interviewees obtained their first customers. The popularity of each method is listed in descending order:
- Social Media (e.g. Reddit, Facebook, LinkedIn)
- Cold Mails
- Networking with other companies from the same or other industries
- Friends and Family
In the business and entrepreneurial world, the key to success is to be active. When some people found a startup, they have so much confidence in their product that they will wait for the customers to come. Everyone loves passive incomes, but at the early stage of the startup, only reaching out to people actively can help grow your customer base.
With your first success, you can build up from there and continue to thrive.
That's it for this newsletter, See you next week!
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