šŸ‘Š Domi's favourite Things - Issue #18

Fermi from Italy is cold Calling us šŸ‡®šŸ‡¹

Read time: 4.40 Minutes

Servus Friends,

last week we had the Copywriting Special with all what I know about Writing. A Text I am very proud of. Find the Special IssueĀ here.āœØ

Today we looking to Italy and how a mathematical System of a famous Physicist can help us to estimate the Success of a Business Idea, even in the early Stage.

Thus we also dive deeper into how to do cold Calling right, a Topic everyone of us hates.

So enjoy the Rideā€¦ šŸŽ¢

The Things we are digging in Today:

  1. āš›ļø How a Framework from a nuclear Physicist helps you to predict your Startupā€™s Success šŸ‡®šŸ‡¹

  2. šŸ§Š Tips for how you can nail your next Cold Calls šŸ“ž

  3. #Twitter-Box: šŸ“ø Hold Fast if the Daughter of the Ex-US-President wants a Selfie with you šŸ‡ŗšŸ‡øĀ 

  4. #Domi's favourite 5 - Random Pizza Edition šŸ•

# 1 - āš›ļøĀ The italian ā€œArchitect of the atomic Bombā€ helps you to predict your Startupā€™s Success šŸ‡®šŸ‡¹

Working on new Projects and Startups is always hard. Especially in the early Stages.

Why? Because itā€™s very hard to predict if your Idea is any good in the first placeā€¦

But what if I tell you, that there is a little Framework which is helping you also in the very Beginning? A System which can tell upfront if this is worth your Time, Excitement and Resources?

Needless to say that you will listen to meā€¦ Do you ever heard of the Fermi Estimation?

No? I know this sounds like a Math-Horror-Story back from School.

Actually Fermi is an easy Framework to predict if your Idea is good or not. Even with little or no Data.

First some Context, so you can brag in front of your Friendsā€¦

The Fermi Estimation is named after the nuclear Physicist Enrico Fermi from Italy. (Noble Prize Winner and called ā€œthe Architect of the atomic Bombā€ šŸ˜³)

Crazy Stuffā€¦

But if itā€™s good enough for solving nuclear Problems, itā€™s good enough to help you to start your Startup or Project anyway.

This is why you should give this Article from a smart Bear a read. After that Text you know exactly if you on the right path or not.

Here is the Linkā€¦

Fermi estimation for startup business models

Early in a companyā€™s life, you donā€™t know anything. Often your best estimate of any metric or market behavior or business model assumption is accurate only within a power of ten, for exā€¦

blog.asmartbear.com/fermi-estimation.html

A lot of the best Frameworks & Research in Business comes from other Disciplines. This is why I always try to look into other Fields to learn more. Proofs that you donā€™t need a Business Education to be a successful Entrepreneur. A lot of Historians and STEM Majors are running some of the best Companies around the World.

So I encourage you to follow the entrepreneurial Path even without the ā€œrightā€ Education. (Because there is no ā€œrightā€ Education at all)

# 2 - šŸ§ŠĀ Donā€™t be cold as F**K in your next Call šŸ“ž

Now that Iā€™m able to predict the Success of my Ideas in an early Stage. What is the next step?

I will tell you in the Following. But I also tell you that the hard Part is still comingā€¦

Because the Proof that your Idea is financial feasible is only Part I of the Equation.

You also have to know if your Customers will like your Ideaā€¦ Thatā€™s Part II.

So you have to speak to the Customers at some point. Customers you donā€™t know yetā€¦

This is why I want to introduce you to the all hated Job of cold Calling. Everyone hates cold Calling. Itā€™s the worst. Do you know anyone which likes to get unexpected calls with no appointment?

No? Me tooā€¦

But sometimes you have to do it. Especially at the Start of a new Project, this is often necessary. (Many People only donā€™t start working on their own Ideas, because this is too ā€œscaryā€ for them)

So I beg you to watch these 7 mins of Goldā€¦ Because then you donā€™t have to be scared to shit anymoreā€¦

Patrick brings up a Rule which I learned in my past too. The first 5 to 10 Seconds are the most important in a Cold Call.

My secret is to let the potential Customer speak in this Time too.

This is why, even if I know she or he is the right person, I ask at first if Iā€™m connected to the right personā€¦

I learned, if you just tell your Pitch for the first 2 mins, the Customers are way more likely to say no straight away. (Small Talk is not only a great start if you meet your new Partnerā€™s Parents for the first Time šŸ™ƒ)Ā 

#Twitter-Box: šŸ“øĀ Hold Fast if the Daughter of the Ex-US-President wants a Selfie with you šŸ‡ŗšŸ‡øĀ 

This is Americaā€¦ Where a famous Podcaster canā€™t watch a Miami Heat Game in Peaceā€¦

The Guy which is trying not to look happy on this Photo, is Lex Fridman. If you in Tech or Research you should give him a listen.

Heā€™s running the best Podcast with the best Researchers on the Guest List out there. (more than 3 Million Subscribers šŸŽ§)

And then, this happenedā€¦

šŸ˜‚Ā šŸ¤£

A fun Story with Lex: My big Brother shared the same Office with Lex back at MIT in Boston. He told me a real great Story.

Lex (an autonomous Driving Researcher) was publicly telling a Reporter, that Elonā€™s Teslas suck in Terms of AI-Driving. The next day Elon sent him 3 new Tesla Model S to the Campus for further Research.

They also had a famous Interview together later. If you an Engineer, maybe one of the best Talks ever. If you Normal like me, it looked like two Robots talk to each other. (Hereā€™s the Link) šŸ˜…

#Domi's favourite 5 - Ā Random Pizza Edition šŸ•

Here some cool Reads of last Week:

Feedback please! Help me to improve for more fun Stuff.

Click on a link to vote:

Meme of the Week

Years ago it was the same with Corporate Incubatorsā€¦ (I worked in one, so I know šŸ¤”)

šŸ¤£šŸ˜‚Ā Thanks for reading the 18th Issue.

Please share with your Friends and have an epic Week. šŸ‘Š