Growing Two Startups At the Same Time

Understand What Truly Resonates with Customers:

• Core Value Proposition: Despite Jack’s extensive marketing background, one of the major challenges he faced was initially not understanding what made his product valuable to customers. He and his team initially experimented with a variety of features and tools but found that success came when they refocused on the core features that customers really wanted, such as giveaways, contests, and waiting lists.
• Learning from Experience: The realization that customers were primarily interested in specific features led to a significant shift in their product strategy. This underscores the importance of thoroughly understanding customer needs and preferences, and being willing to pivot your focus to meet those needs effectively.

Iterate Product Development and Learning:

• Applying Learnings Across Products: Jack applied the lessons learned from his first startup to his second product, launching it as an MVP (Minimum Viable Product) and using feedback from early users to refine the offering. This iterative approach allowed them to quickly identify what worked and what didn’t, leading to a more focused and successful version two.
• Importance of Beta Testing: By initially releasing a version 1.0 and gathering feedback through platforms like AppSumo, Jack’s team was able to learn from real user experiences. This approach highlights the value of beta testing in refining a product based on actual customer feedback before committing to a full launch.

Focus on Effective Marketing Channels:

• Experimentation with Marketing Channels: Despite having a team of skilled marketers, Jack and his co-founder went through a process of trial and error with various marketing strategies, including content marketing, organic social media, referral and affiliate programs, growth hacking, and cold outreach. This experimentation phase was crucial in identifying what worked best for their products.
• Narrowing Focus to Key Channels: After testing multiple strategies, they discovered that focusing on just one or two key marketing channels was more effective. For Jack’s startups, SEO and content creation emerged as the top drivers of traffic and sales. This focus allowed them to master these channels and generate consistent leads and sales over the long term.

Refine Your Marketing Strategy for Longevity:

• Long-Term Impact of Focused Marketing: The realization that mastering one or two marketing channels could suffice for sustained growth is a critical takeaway. For startup founders, this means that spreading efforts too thin across many channels can be less effective than concentrating on a few that align well with the product and target audience.
• SEO and Content as Core Strategies: For Jack, SEO and content marketing became the cornerstone of their strategy, driving significant traffic and leads. This emphasizes the importance of creating high-quality content that ranks well in search engines, which can be a long-term asset for sustained growth.

Leverage Marketing Expertise:

• Even Experts Face Challenges: Despite his background in marketing and running a large agency, Jack and his team still faced challenges in identifying the best marketing strategies and understanding customer needs. This illustrates that even with expertise, there is always a learning curve when it comes to new products or markets.‍
• Learning from Mistakes: The experience shows that it’s important for startup founders to be open to experimentation and learning from mistakes, even when they have a strong background in a particular field. Applying these learnings effectively can lead to more focused and successful business strategies.