I've had a wild ride of a career, from founding multiple products (some of which are ๐) to working with celebrities in the alcohol industry, to working on $26 billion worth of M&A deals, plus I've won awards for my comedy writing. Also, I like to meditate, burn sage, and collect crystals.
๐ Here to answer any and all questions about SaaS, content marketing, remote work, document apps, product, transitioning from corporate to startups, writing, selecting crystals, the future, and me ๐ฎ
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Youโve been a founder and also a leader on startup and enterprise teams. Whatโs your best advice for someone who is thinking about taking the leap and launching their first company?
@katebour In hindsight, there are 3 things I'd recommend. 1) ask yourself the right questions, 2) give yourself the best pep talk you've ever given yourself 3) get practical
1) Are you really ready to do this? Is this something you want to work on for years to come? Do you have a financial cushion to fall back on (i.e. did you save up some money)? What does your heart want? Is this an industry you are really into? Why am I doing this?
2) Have some real talk with yourself. Say something like: Alright self, I'm about to embark on a journey into the unknown. This is going to hurt. I'm going to think I'm amazing on some days, and a total dunce on others. I'm going to make mistakes. Sometimes I'll make the same mistakes over and over again. And I am going to learn so much, and evolve as a person in such a huge way, that all the ugly parts are worth it. Remember self, you rock - and don't forget that on days when you feel down. Always get up. Keep going. Keep learning.
3) Do all the research you can before you take the leap, if you can. Learn as much as you can about the industry you want to go into, start customer research if you can, plan out how you're going to validate your idea and hypothesis. This goes for making major career changes too - initially I quit my job to go be a comedy writer - so before I did that I made sure to write A TON, get to know a lot of people in the industry, and learn everything I could about the industry.
@ryannegri Learn as much as you can. Treat the entire experience as a way to learn about whatever it is you are doing. And bring what you've learned from your time founding multiple startups to your new role - big companies are dying for entrepreneurial people who think differently. If your company already has innovation frameworks they are using, see what you can bring into the process that will fit. For example, can you bring in postmortems? Is there a framework you can bring in for coming up with product names? Complementing existing processes is great. And of course, be humble - otherwise it's really tough to learn.
Looking back at your past work that succeeded and ๐, across startups, M&A, and even writing, what are common traits of the things that worked out? What do you look for now when deciding what to tackle?
@lenny_rachitsky I think of everything that's happened as something that's "worked out." Why? Because I learned from it. I became a better version of myself. I went through an experience I didn't have before. I met people, saw things, found things out about myself. The common traits for when it was something I really enjoyed / feel proud of are - 1) I was terrified or at least very scared of doing it, 2) I thought I was possibly wrong and had to figure out if that was actually the case (this goes for customer research big time), 3) I was driven to do it by some unseen force, drawn to it even if there was no logical explanation, 4) I found myself pouring so much time and effort into it, and couldn't help myself from working late nights on it, 5) it felt good to do and work on.
I'm pretty judicious with my time these days, so when there is something to tackle for FYI we base our decisions on research, intuition, desired outcomes, as well as interest. Even for marketing initiatives. For Product Habits, we make sure it's something that's valuable to our audience (i.e. our customers) and that we'll enjoy and learn from as well. On the personal front, I follow my heart and intuition.
Hi Marie! As someone who used to work in the alcohol industry, what do you think of these new โsoberโ drink products that have popped up lately? (Examples: Kin Euphorics, Cann). Do you think they have a fighting chance to compete with alcoholic beverages?
@mijustin Hey Justin! You just won my favorite question ๐บI LOVE the new sober drink products + low alcohol products like Kin Euphorics and Haus. Another one that I have my eye on is Seedlip which funny enough my old company Diageo (largest spirits company in the world) had invested in in the past and just became a majority shareholder of. If that's not a sign, I don't know what is. Well, maybe people like @justinkan announcing that they've stopped drinking, then having 1000s of people join Telegram groups to also go sober. This category is small, but it will grow over time. There will be acquisitions, and there will be growth. Plus a lot of these companies will be more innovative and tech savvy than the giant slower-moving alcohol behemoths. Sober bars are popping up in cities (for real). I even got to enjoy a wonderful non-alcoholic Seedlip-based cocktail at Trick Dog in San Francisco recently. P.S. - I quit drinking about 2 years ago, hence my excitement. If there are any non-alcoholic products out there who need some advice, feel free to hit me up :)
In terms of cannabis drinks like Cann I think this is a totally different category with a way different growth trajectory and set of challenges. One sign here is that tons of people I used to work with at Diageo - even very very senior people - have moved from the alcohol industry to the cannabis industry in the US and Canada. This industry is going nuts, and needs experts who are used to navigating highly regulated industries. There is a lot of uncertainty in the industry, issues with banking, lots of risk - but eventually it will be a behemoth of an industry. Constellation has invested in the category already (40% of Canopy Growth) and Diageo has said they are tracking it: "On cannabis weโre just tracking it, itโs at a very early stage. Weโre looking at the sector, itโs nascent and we just want to understand the consumer behaviour.โ
Hi Marie, I really admire your work - thanks for taking the time to answer our questions ๐
What are your favourite channels/ways to promote a piece of long-form content (e.g. a guide or an e-book?)
@manuelabarcenas Hi Manuela :) Product Hunt is amazing if you have something that you can launch. That means it can't just be a blog post and has to be special. Do some searching on there and see what's done well in terms of the topic you are going after and what format it was in. Twitter is a really great place to share content - try doing tweetstorms, getting friends to share your content, and also sharing something personal helps too. After that, Hacker News and Reddit are great. We don't normally submit things on our own to Hacker News, but (and I mentioned her in another response) I've seen @anthilemoon submit her blog posts on her own to Hacker News and it work quite well. We've submitted to Reddit on our own and it's worked, but you have to pay attention to the policies of the subreddit. And of course there's LinkedIn. I haven't mastered it myself yet, but if you study what's doing well on there you can probably get a good amount of views from it :)
@vincentturner Love this question.
I used to work in the alcohol industry. Many of those roles weren't conducive to remote. Bottles running down lines with people making sure everything was working, people doing quality assurance, winemakers, people making tequila, people who work to harvest the grapes or agave, those who take care of the land, sales people who need to be with customers and accounts with a home-base near the rest of their team. Same exact thing can go for hardware.
I would say Product and Design roles are more challenging for people if the company isn't 100% remote. Today, there are few Product roles as well as design roles that are remote. Those roles are challenging to do remote as is, so it's even more challenging when the rest of the company isn't remote.
That said, I think any role (with the exception of roles that need to be at an office that are creating physical goods) can be remote, with the right dedication and process.
(One exception to that rule is probably HR where there are a bunch of people in an office and you need the physical presence of an HR person who can help with any issues that arise).
Hey Marie, I am a first-time VP of Marketing at a seed-stage start-up. Any advice on how to best balance building the foundations (including positioning, data infrastructure, tech stack etc) with acquisition & activation at a startup that's trying to 2x this year?
(For context, this company never had a marketing team before and their growth has primarily come from one channel: Paid Search. I am trying to diversify the offers and channels and also pivot to a slightly different market and set of buyer personas).
@amritamathur Know your customer. Seriously. Your customer & your copy are everything.
Research to nail your product's positioning is key. In terms of tech stack and data, you can get away with Google Analytics for quite some time, so you shouldnโt over complicate it until you really need to.
Focus on understanding your customers really really well and determine the positioning and copy that resonates most with them. That will be the best foundation you can create for yourself which will inform all your marketing, no matter which channels you decide to go after.
Since the business already exists and you are pivoting, imagine that you are starting from scratch.
@anandp29 We started out by taking the most basic feature and testing that - for us, it was searching for documents across multiple apps. So we built a really simple interface to let customers auth G Suite, Box, Dropbox, and OneDrive and then be able to search for documents with a search box. We built it in 5 days, first 3 days we had a working prototype for the team to play with and then we took 2 more days to iterate it before we shared with people. We tested it with 10 early access customers - we asked them to talk to us for 20 minutes each week for 4-6 weeks, either on a call or via email. And boy, did we learn a lot. We learned that search isn't enough, we learned we had to build an interface like what we have today if we wanted to solve the problem of finding documents across all the apps you use. That MVP was the best decision we made early on, and it keeps paying dividends.
@figelwump Does Postmates count as a daily habit? ๐น
One main daily habit of mine is actually abstinence from things. I quit coffee. I stopped eating meat (for a while I also didn't eat fish, dairy, or gluten - I still eat those sparingly). I stopped drinking. No drugs (not even CBD). And at times, no TV. I've found that giving these things up has had countless benefits. First of all, I freed up mental space - no thinking about if I should grab a drink after work, no craving coffee, no jonesing for a glass of wine to facilitate relaxation. I also stopped a lot of bad habits - for example, when I ate meat I couldn't help myself but eat lots of food that wasn't healthy (burgers, bbq ribs, bacon, you name it). I'm also more present and less unconscious.
As far as daily habits, at my best (and I'll be honest that I'm not at my best all of the time), my daily habits look like this:
- Meditation, the sweet spot for me is 30-45 minutes per day
- Gratitude, I like to do this when I first wake up, to run through a mental list of things I'm grateful for, the small things and the big. Helps me be more present and happy
- Walks or hikes, usually with my dog Ralph
- Healthy meals, aka lots of veggies and fruits
- Look up the content of my near-daily dreams in a dream dictionary (my favorite is Dream Moods)
- Do journaling or write. Doing this in the morning and the evening is most nourishing.
- Work on myself, either via squares (a technique that brings your desires and fears/cravings and aversions to light and helps you release them) or focusing (a technique where you focus on sensations in your body or energy field/chakras)
- Work a bunch
- Read
- Getting out of the house to be around people so the remote work isolation doesn't set in
At my worst, my daily habits look like this:
- Wake up and reach for my phone right away. Snooze the 10 alarms over and over again. Then look at Twitter, Instagram, email, Slack while still in bed
- Work non-stop (aka replying to AMA questions after midnight on a Sunday) with little time to do anything else
- Forget to drink enough water
- Watch TV, I consider excessive TV watching to be a way of numbing out and typically if this is happening it means something is off for me
- Postmates instead of cooking
- Not leaving the house in favor of working a ton
- Thinking, not just doing. This goes for work and for personal.
I think as a founder it's easy to fall into the bad habits trap. And thanks to your question I am going to read Atomic Habits stat :)
@marie_prokopets This is fantastic, thanks the detail and the honesty! I'm a big believer in habits, and at the same time I struggle with good habits as much as anyone else. I'm always curious to learn how others think about habits, what's working for them, what's most impactful, etc. Appreciate the thoughtful response, and awesome work on abstinence and establishing so many positive habits :)
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