Tweets

Justin Jackson
Justin Jackson@mijustin
"Aristotle had discovered that there are fairly universal limits to the amount of information which any human can absorb and retain. When it comes to persuading other people, less is always more."

@edithmayhall, Aristotle's Way
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Justin Jackson
Justin Jackson@mijustin
Replying to @nbashaw
@nbashaw I used to admire Elon, I don’t any more.

I think we should save our admiration for leaders who are mindful, respectful, treat people well, and can act with a reasonable amount of restraint.
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
So far, all I’ve received is messages from salespeople.

Have any SaaS *founders* done this transition?

Switching payment providers is a huge PITA (and a huge churn & conversion rate risk).

Would like to hear from SaaS that have actually done this.
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Justin Jackson
Justin Jackson@mijustin
Replying to @threehourcoffee
@threehourcoffee I think most folks would understand something like this:

“It’s going well! It’s turned into a full-time business for me. It’s a subscription software business, similar to Netflix.”
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
$699.99 in 1991 is equivalent in purchasing power to about $1,525.37 today.
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Fundamentally, you're looking for good business opportunities, but most entrepreneurs need to have built a strong personal foundation (based on experience) to recognize and take advantage of those opportunities.
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
I can't believe it's been that long.
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
As someone who is Extremely Online™, helping to promote local businesses is one way to give back.

I know from experience that posting about local shops in Vernon helps them tremendously.

(I've had numerous people tell me they visited @ratiovernon because of one of my posts)
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Customers are choosing between multiple options!

So ask yourself:

"How can I make my product/service the more attractive choice?"

The answer will depend on what customers value. It could be:

Pricing
Service
Features
Your story
Packaging
Reputation
Distribution
Product quality
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Justin Jackson
Justin Jackson@mijustin
The concept of trajectory is fascinating to me.

If you're steering a ship, pointing your nose just a few degrees in one direction can wildly change where your end up.

This is true in business (and life)!

Your initial trajectory matters, as do the subsequent adjustments.
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Optimize for business opportunities that have good margins with minimal complexity. And choose work that gives you lots of breathing room.

More on that here:
https://justinjackson.ca/margin
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Vine: acquired by Twitter for $30 million, later shut down (marked down to $0).

Bebo: acquired by AOL for $850 million, later sold for $1 million.

Path: raised $62.5 million, rejected a $100 million offer. Later, their assets were sold to Kakao and Path was shut down.
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
GeoCities: acquired by Yahoo for $3.7 billion, later shut down (marked down to $0).

Digg: raised $49 million, was almost acquired by Google for $200 million, later marked down to $16.5 million

Friendster: raised $48.5 million, later marked down to $39 million.
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Justin Jackson
Justin Jackson@mijustin
Should you give out candy to teenagers who show up Halloween?

HELL YES.

If you have the opportunity to spread some good cheer on Halloween to a teenager (or really, anyone who shows up at your door) why wouldn’t you?

Being a teenager is tough; show them some kindness!
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
3. Start making changes in your own life. Focusing on your own carbon footprint won’t be a meaningful change on its own, but as a larger movement it helps.

I’m not talking about virtue signaling.

For most high-income workers, the most impactful change we can make is to fly less
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Avoiding topics that make us uncomfortable isn’t a strategy (in business, or in dealing with threats like climate change).

What can you do?

1. The first thing you can do is care. Care about this enough to look at the research, and see the trend for yourself.
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Justin Jackson
Justin Jackson@mijustin
Replying to @Patticus
@Patticus @jessethanley I’d like to see that.

Based on the calculations I did, Stripe + Avalara would be significantly cheaper.

(Plus, there would be significant switching costs for us to adopt to Paddle)
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Stripe: 2.9% + $0.30 per transaction
Paddle: 5% + $0.50 per transaction

The annual cost to be on Paddle would be significantly more than Stripe + annual sales tax compliance costs. 😞
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
For example, many people become creators/entrepreneurs so that they can spend more time with their families.

But then they get themselves on a work treadmill where they're so overcommitted they don't have time or energy to spend with their families.
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
I think creators have always had a "bad deal" from social media platforms: we provide the content for free/low cost, we upload our address books, we cross-promote on other platforms...

But that deal will go from bad to worse in an AI-driven world.
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
If you're responding to this personally, please include a link to your portfolio (or, at the very least, a cool Shopify theme you've developed)
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Nice to meet @webby2001 in person: “the calm voice of truth in the podcast industry.”

Now he’s on stage with some interesting @SoundsProfNews research on how different types of podcast ads perform when split-tested against each other.

#pm22
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Justin Jackson
Justin Jackson@mijustin
Replying to @nbashaw
@nbashaw It depends on company size.

Indie/bootstrapped businesses: "They"
↪️ "I like @usefathom; they're good guys."

Megacorps: "It"
↪️ "Apple thinks it can gloss over privacy issues."
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Every day, Jon and I wake up and feel incredibly lucky:

We get to work on a product we love (@TransistorFM), serve creative customers (podcasters), and work with people we like (@HelenRyles and @jsonperl).

Our weekly team Zoom calls have become the highlight of our week:
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
What kept us going?

Two things:

1. Hearing from customers who loved using @TransistorFM for their podcasts

2. Encouragement from other startup founders, like @earthlingworks
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
It’s hard to communicate what it’s like to launch a new product to the public. It’s a mixture of relief, fear, and hope.

We were relieved, but at the same time we were anxious: would people like it? Would people sign up and use it?

And, would it one day support us full-time?
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Justin Jackson
Justin Jackson@mijustin
Over the years, I've learned so much about mental health from Dr. @sherrywalling.

Her new book is coming out on July 26.

It's a vital "guide for finding hope in the landscape of loss."

I've already pre-ordered it! (And you should too)

https://www.touchingtwoworlds.com/
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Justin Jackson
Justin Jackson@mijustin
Replying to @jappleby
@jappleby @jacobtender @Podnews I've reported Acast to the ESP sending these emails. The ESP sady this kind of cold outreach is against their TOS.

In Canada, and the EU, sending this kind of cold email outreach is illegal (CASL here in Canada).
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
The key is to build an iteration that matches the direction and velocity of the existing momentum.

You can't pull potential customers too far off their existing behavior, expectations, or desires. (It's too big of an ask)
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Justin Jackson
Justin Jackson@mijustin
I'm writing an update to my newsletter on our Product Hunt launch for @PodcastSites.

Anything specific you'd like to know?
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
I’m not saying we should block anyone from trying to be an entrepreneur: it’s good to try!

(And one characteristic of those who “make it” is they try, repeatedly, until they make it)

But statistically, most folks won’t persist or succeed (same is true in music, art, sports).
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
"Some of these markets are not big enough [to build a good business on]. Take, for example, the subscription market: it's not that big! There are, max, 150,000 companies!" – @Patticus
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Not all businesses are sellable assets.

If you're going to invest thousands of hours in a startup, it makes sense to consider whether Business Idea 1 will be more acquirable than Business Idea 2.

Generally, main street, consulting, and content businesses are not easy to sell.
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Justin Jackson
Justin Jackson@mijustin
Replying to @coreyhainesco
@coreyhainesco @SwipeFilesco Really interesting to go back and look at these initial numbers for @TransistorFM.

These first 50 customers came entirely from our existing networks (audience, contacts, friends), many of whom switched to us from different podcast hosting providers.
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
@TransistorFM Too many entrepreneurs get stuck in a life-long grind, where the business is making them (and their families) miserable.

We want the good things that a business can give us; if those benefits disappear, there's no reason to keep going.
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Justin Jackson
Justin Jackson@mijustin
Replying to @aarondfrancis
@aarondfrancis @dvassallo I’ve done “100 projects in a year” and it didn’t teach me a ton.

It wasn’t until I saw friends like Wathan and Otwell responding to strong “market pull” that my 💡 came.

Identifying market pull is less about prediction, and more about seeing evidence of demand in the present.
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
The Bob/Jane example is just illustrative of a broader point for entrepreneurs:

Two founders can start at the same time, with the same resources, and one can do 100x better than the other.

The difference in outcomes is almost always attributable to which market you choose.
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Justin Jackson
Justin Jackson@mijustin
Worth considering: as a private owner, Elon will have tremendous leverage to do whatever he wants.

He can say he won't shadowban, and that he'll increase transparency.

But under the hood, there's nothing stopping him from checking your DMs.

https://twitter.com/elipariser/status/1518594947393466368
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Justin Jackson
Justin Jackson@mijustin
Back from easter break.

Do you want me to tweet about 'elon and free speech' or bootstrapping stuff? (Or something else?)
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Justin Jackson
Justin Jackson@mijustin
We can’t forget about Ukraine. 🇺🇦

Listen to this episode of @sciencevs and hear a Russian and a Ukrainian report on what they’re seeing on the ground.

Eye-opening. Sobering.

This invasion is a tragedy.

https://overcast.fm/+Tr3_L9dTs
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Instead of following the same “business podcast” formula, Brian is introducing something that feels quite different.

It’s kind of like a variety show for indie hackers. 💯
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Method 4: observe whenever people complain about a product

Whenever your peers, or folks on Twitter, complain about an incumbent, write a note in your notes app.

- Name of product
- What people are unhappy with (pricing, bugs, features)
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Who you’ll be in the future is determined by what you start doing today (and what you keep doing tomorrow).
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
When I was a kid, a vacuum salesperson came to our door.

We didn't need a vacuum.
We didn't want what he was selling.

But he tried every trick in the book to try to sell this vacuum to my parents.

Contrast that with how people desire, seek out, and buy Dyson vacuums.
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
Helen Ryles: @HelenRyles

I'm so fortunate to get to work with Helen every day at @TransistorFM! Helen is a creative powerhouse, and really understands how to help customers with their "job to be done."

Her list of nocode projects is impressive!
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Justin Jackson
Justin Jackson@mijustin
Replying to @mijustin
New products should consider charging *less* than their competitors.

As a new product, you're asking folks to switch away from the incumbent. Your app is unproven, and has fewer features.

Getting a good deal can be a reason to try something new.

https://justinjackson.ca/charge-more
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