👊 Domi's favourite Things - Issue #53

Read time: 5.50 Minutes

Servus Friends, 👊

last week we had a big One. This Newsletter hit its 1-Year-Anniversary, with a Special “Birthday” Issue. 🎂

Today we talk about the Importance of de-risking your Ideas before you start to working on them. It’s an easy Process but worth a lot later.

In the Social Corner we learn more about why nailing your Sales-Channel is a must to succeed and thrive with your Business.

So enough Hangover since last Week my Friends…

The Things we are digging in Today:

1. 💡 Why De-Risiking your Ideas is Essential 🧩

2. 🦺 Domi’s „Building in Public“: 🚀 The Twitter Fire 👨‍💻

3. #Twitter-Box: 🎯 Nail your Sales-Channels 🌊

4. #Domi's favourite 5 - Random Addition Edition 🧮

# 1 - 💡 Why de-risiking your Ideas is Essential 🧩

Looking for Startup or Project Ideas is for a lot of People the hardest Part of their Work. Sometimes it takes you ages to recognise a Pattern which can turn into a strong Idea.

But there is a Major Trap after you found a good One, that many People oversee. A Trap which is more often when you think turning into a big Loss.

This Trap is, not to de-risk your Idea and start straight away with building the Product or Service you thought of. But what means de-risking Ideas?

De-Risking can have a lot of different Faces. Here are some Examples:

1. Validating your Idea in front of Customers

2. Checking the technical Feasibility

3. Testing the financial Business Case

4. Assessing the Staff for Capabilities

5. Examine Regulations and Law

6. ….

You get the Point. There are a lot more Ways to de-risk before you actually start working on your Idea and invest your Time and Money.

Pro Tip: Don’t over-engineer this. If you have a new Idea, then think of de-risking Actions like the above and go. Of course for different Ideas the Actions can vary.

If you want to dive deeper, here is a great Article…

Link

I think if you run a bigger Company, you can think about to build a De-Risking Process. Like a Checklist if you will. Because doing this work upfront can save you a lot of Trouble.

# 2 - 🦺 Domi’s „Building in Public“: 🚀 The Twitter Fire 👨‍💻

Welcome to my Public Building Section. This is where you can sit next to me in the first Coach of the Rollercoaster and learn with me together…

Last Week we had a deeper look to which Customers Profiles this Newsletter is aiming. A perfect Run to work on the Core, the Readers of this Newsletter.

Behind the Scenes I’m working on the big Picture and preparing something cool for You, since some Weeks. But more to this soon…

Also behind the Scenes, I started to work on the Social Channels again.

So therefore, it’s Twitter Time.

I set up a new X-Account and promoting my Newsletter on this Channel. And the first Weeks are at least interesting…

Here’s my Account. Please I owe you something if you give me a follow there.

Just to give you an Idea how I post there here some Impressions:

1) This Reply at Noah Kagan’s Book Launch gave me already over 90 Views.

2) This is crazy as well. I only shared a Post from the a Smart Bear Jason Cohen and he even gave me a like and a Thank-You-Note 🙃

I want remind you, Json build already two Unicorns…

In general I think already some good Results for two Weeks in. Here are my overall Stats of the last Week.

In the next Weeks I show you how I approach tweeting without hanging at my Phone all day long.

So stay tuned till the next Issue.

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Other than Instagram or Facebook, it’s way easier talking to even famous People.

When Insta and Facebook feels like Football (big Stars & no Chance to meet them), then Twitter feels like Handball (not that big as a Sport, but you can talk to every Player like to a normal Person) 🫠 

#Twitter-Box: 🎯 Nail your Sales-Channels 🌊

Sales is in the End hated by anyone and everybody. It’s a necessity. Without Sales your Business dies.

A Lesson which had many Startup-Founders learned the hard Way. Many Startups die because they run out of Money. The make the first initial Customers converting to their Solution, but never cross the Chasm.

But there is only one Truth. You have to nail and master at least one Channel. If you can master several Channels your Company my can turn into a wild Success.

The following Quote form famous Peter Thiel is a simple but powerful Thought. But it’s still funny that he and Elon gave everyone who broad a new Customer to Paypal in the early Days 10 Dollars for Free. 🙃

Maybe the fastest ever Try to spend VC Money…

Link

If you facing this Problem somewhere in the Future, I beg you to turn to this Book. A great Manual and Framework to find the Sales Channel you need.

#Domi's favourite 5 - Random Addition Edition 🧮

Here are my most interesting Reads & Videos of last Week:

• Harvard Business Review: Use Strategic Thinking to Create the Life You Want (YT)

• Lenny’s Newsletter: What to do if your product isn’t taking off

• Tim Denning: Your Friend Is a Secret Millionaire and Never Told You

• LeanFoundry: The Future of Better Customer Discovery is Here

• Jason Fried: To Make

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

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👎 No Domi, wasted my time reading this.

Meme of the Week

Ups I did it again… (or why never mess with Britney Bit**) 🎧

🤣😂 Thanks for reading the 53th Issue.

Please share with your Friends and have an epic Week.