Synchronous communities, emerging markets, and the domain-first framework

Hey,

Welcome to another edition of the Founder Flywheel newsletter.

Each week I'm sharing one trend 📈,  one framework 🎯, one idea 💡, and one resource 📚 that will help you accelerate your personal flywheel.

📈 Prioritization Frameworks

  • Prioritization frameworks help people decide what to do or work on next.
  • Most Google search results are specifically targeted at product managers.  
  • But I'm pretty sure many other groups can equally benefit from such frameworks.
  • Nowadays, there are infinitely many options where to put your energy (especially for founders).
  • Learning how to prioritize the right things is arguably the highest leverage task you can learn.
  • Given the rather low quality of the top results in Google there also seems to be an opportunity to build the authority resource on the topic.
  • You could start by curating popular prioritization frameworks, ideally grouped by the context in which they're useful.
  • For example, Julian Shapiro has an interesting framework for making career choices.
  • Then once you're getting some traffic, you can start selling digital products, courses, or consulting services.

🎯 Start with a great domain name

  • It's no secret that constraints unlock creativity.
  • My favorite example of this is Peter Askew's framework for coming up with business ideas: Want to build a side business? Just buy a great Domain Name!
  • Most aspiring founders struggle with analysis paralysis. Hence Peter's advice is to stop trying to come up with business ideas and start shopping for great domain names instead.
  • Peter recommends browsing marketplaces that sell expired domains like Namejet, Snapnames, Dropcatch, and Dynadot.
  • What you should be looking for is keyword descriptive dotCOM domains, e.g. BikeTours.com.
  • This way the domain name you're able to acquire (given your budget and what's available right now) dictates the kind of business you start.
  • Peter has done this multiple times successfully with, for example, VidaliaOnions.com and RanchWork.com ($8k monthly revenue).
  • The story behind VidaliaOnions.com is a hilarious and highly recommended read.

💡 A community tool for synchronous communities

  • While everyone is talking about async work, now might be a good time to think about the opposite trend.
  • What would a community platform specifically for synchronous communities look like?
  • One example: The only thing I really like about Clubhouse is that it's possible to spontaneously "bump" into someone like you would in the hallway at university or at work.
  • There is a list of all your contacts where you can always see who's online right now and you can always very casually start a conversation with anyone in that list.
  • This allows very different conversations than the usual text-based messages where often days pass before the other person answers.

(h/t Justin Welsh)

📚 Emerging Markets

  • The market is the most important factor in a startup’s success or failure [...] In a great market—a market with lots of real potential customers—the market pulls product out of the startup. The market needs to be fulfilled, and the market will be fulfilled, by the first viable product that comes along. [...] Conversely, in a terrible market, you can have the best product in the world and an absolutely killer team, and it doesn’t matter—you’re going to fail.” -Marc Andreessen
  • I wrote an algorithm to find out what markets are growing rapidly right now.
  • Lots of interesting markets came up that I hadn't heard about before. For example: ESG data platforms, embedded finance, quick commerce, talent intelligence platform, zero-trust security.
  • The full list is available here and I wrote a thread with some of my favorites here.

I hope you enjoyed these ideas. If you have a minute, please let me know what you think by replying to this email.

Talk Soon,

Jakob

P.S: I rely on word-of-mouth for growth so if you enjoyed the content, I'd love it if you could share it with someone in your life.


Please do share with your friends. I spent 5+ hours on this so it would be nice if a few people read it.

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