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- 👊 Domi's favourite Things - Issue #39
👊 Domi's favourite Things - Issue #39
🇮🇪 How to market irish Money Processing 💶
Dominik Hess
November 02, 2023
Read time: 6.20 Minutes
Servus Friends, 👊
last week we talked about why it is so crucial to know your Customer well, in the KYC Issue. 🍗
Today we gather a deeper dive into how the irish Payment Provider Stripe is thinking about their Go-to-Market Strategy.
In the Social Corner the Founder of famous Convertkit is telling us why he refused a 9-Figure-Deal with Spotify.
So stay curious Friend…
The Things we are digging in Today:
🇮🇪 How Stripe is attacking their Market (+ Secret PDF) 💶
📬 Community Tab: 💯 There is no perfect System ⚙️
#Twitter-Box: 🚀 Making not exiting your Startup worthwhile 🤑
#Domi's favourite 5 - AI Wars IX Edition 🤖 (The Story continues…)
# 1 - 🇮🇪 The Chamber of Stripe’s Go-to-Market Secrets 💶
It’s not the first Time that I mention Stripe in this Newsletter. But I have a special Treat 🎃 for you today, so keep reading…
Without Stripe and the two irish Collison Brothers, paying your next E-Commerce Haul would still be a disgraceful User Experience.
Don’t forget. A hard and “buggy” Checkout Process is Reason #1 why possible Customers jump of your Sales Cliff. Having an easy and seamlessly Payment Solution is Key to every successful digital Store.
But as we all know, having a great Product is only Part 1 of a “flying” Startup. You also have to find a great Way to sell your Product to ride into the Unicorn-Hall-of-Fame…
And Stripe indeed found a great Go-to-Market Strategy, as the famous Silicon-Valley-Story of them proofed to us all.
Therefore, as promised. This Link will start a Download to Stripe’s secret Go-to-Market Strategy PDF. It contains a lot of Insides from a high performing Startup.
Your welcome…
Please have a look at Page 17 and the following Pages. You can use this Advise perfectly to find a promising GTM-Strategy for your Project or Startup.
# 2 - 📬 Community Tab: 💯 There is no perfect System ⚙️
Welcome to the Community Tab Section. This is where we dive into your personal Feedback to a specific Topic of the last Weeks…
If you want to see your Feedback here in the Future as well, then hit “Reply” in your Email-Client and share your Questions, Opinions or additional Thoughts to a Topic of this Newsletter with me.
Last Week I got Feedback from our Community. It was regarding to my Conclusion in the Public Section of the Issue #36. And of course we discuss this here in Public…
Here’s the Message I received:
Fair Point my Friend. 🫵 And Yes I struggled because of this too. In the Past I often gave the wrong Answer here. (with Answer I mean Action 💪)
Nobody ever had or has the perfect & best System at hand for the Start. With this Learning I meant to use a bit of Time in the Beginning to think about the best System with all the Informations you have at this Point.
Then START.
Don’t get caught in Perfectionism. Instead gather Feedback and Learnings from the first Second and iterate along the Way.
I have a great Statement for this Problem for you:
You can have the ideal system until you are forced to say “it works as it is, let’s get the most pressing problems solved and we’ll figure out the rest later”. Having realised that, I’m fine with pushing the rock up the hill, knowing I won’t reach it.
Here is the full Article of Alex Kondov in addition to the Topic…
I hope this helps to Answer your Question.
Let’s keep learning together.
--
And no worries. Next Week you will find the Building in Public Section again here.
#Twitter-Box: 🚀 Making not exiting your Startup worthwhile 🤑
There’s a big Problem out in the Startup World nobody is talking about. How to make the Journey and immense Workload worthwhile for the Employees too.
Many People think of Startups only in Terms of Winning (Exit) or Losing (Bankruptcy). Same Story for Startup-Employees. Everyone who joins an early Startup knows or at least should know, it’s a Game of Risks.
Like the Founders, also Employees win or lose with an Exit or a Bankruptcy. But there are a lot of Startups in the Mid-Field. To good to go down, but not big enough for the Big Exit and the Money-Rain.
This is a Problem which Nathan Barry, the Founder of Convertkit, had a few Years ago. He got an Offer from Spotify for a Big Exit. (100s of Million $)
And he said no…!
Knowing that an IPO is out of reach… (a bigger Exit-Event 💵)
Saying no brought some Issues with it. A lot of his Employees were angry in front of a life-changing Mountain of Money. (just imagine you are an Employee with 1% or 0.5% of the Shares 🙃)
And I can tell you angry Employees is maybe the worst Problem you can have in Business.
But how can you solve this real hard Problem in this specific Case?
Nathan tells us his Approach in the following Tweet…
In 2021, Spotify reached out to buy @ConvertKit for hundreds of millions.
I said no.
Instead we came up with an innovative way to get liquidity for our team:
— Nathan Barry (@nathanbarry)
Oct 11, 2023
This is rough One. Of course many of us wish to have this Problem. But if you not selling in a Situation like this, you also have un-obviously to justify your Decision in front of your Co-Workers.
This Exit would meant a great Life not only for the Founders. So be careful here.
#Domi's favourite 5 - AI Wars IX Edition 🤖
I got into new AI-Apps lately. Here are my best Picks of the last Weeks:
Feedback please! Help me to improve for more fun Stuff.
Click on a link to vote:
Meme of the Week
Next Time if you have a rough Day at Work, just… 🫠
🤣😂 Thanks for reading the 39th Issue.
Please share with your Friends and have an epic Week.