Happy Sunday.
Here’s what I have for you this week:
7 Elements of Good Marketing
Good marketing is fastest path to money for any new founder. If you can be marginally better than everyone else at marketing to a small subset of prospective customers you can quickly build a base of recurring revenue.
I used this playbook to scale Kilo to $1M recurring revenue in our first year.
Here are the 7 elements you need to get right if you want to build a business fast:
The most valuable skill for business building?
— John Franklin (@JohnIsBuilding) November 26, 2022
Marketing
Nail these 7 elements to build a $1M+ business:
Millionaire Myths
On Thursday I took a jab at “MoneyTwitter” & dispelled some common myths about being a millionaire.
Did you know that to be in the top 1% in the US you need a net worth of $11.1M?
Also, according to a survey by Charles Schwab, if you ask the average person in San Francisco how much money they’d need to feel wealthy, they’d respond with $5.1M. With starter homes in the Bay costing $2m+, that number seems low.
According to my Twitter feed all millionaires:
— John Franklin (@JohnIsBuilding) November 24, 2022
• Wake up at 5 am
• Take cold showers
• Log no screen time
• Own 700 rental properties
• Spend 10,000 hours studying copywriting
Surprisingly this isn’t true.
And neither are these 7 millionaire myths:
Media = Marketing
Last week, I talked about how my SaaS company is going all in on media. I was hoping to have our first show ready for you this week, but we’re still sorting out some of the kinks. I promise I’ll share our first episode next week!
What I’ve been reading
I started posting on Twitter in May. 1-month in, I met Gianni in a Discord server. We both had < 500 followers at the time.
We had both been “the growth guy” for some large personal brands. We bonded over that and decided to work together on building our own brands.
In the follow 5 months, he went to on to build a 21k following & $30k in side income.
Recently he announced that he quit Twitter and is no longer playing the “audience building game.”
He’s reinvested that time into his newsletter & it shows.
Check it out:
Until next week,
John
