“How will they make money?” is the wrong question

Lots of consumer platforms — everything from Instagram to Youtube to Twitch — didn’t start out as ways for people to make money. They were initially about fun, status, connection and/or fame. They initially started as social networks, but as each grew their users realized they could build income off of them, which changed the trajectory of the comp... See more

But there’s one critical step I see missing over and over again, from tiny startups to the world’s biggest incumbents: forgetting to sell. In the scramble to build frictionless payment mechanisms, the actual pitch — the “here’s why you should subscribe/pay/join, and here’s what you’re paying for” — is an afterthought, and the responsibility is ofte... See more

When you try and pitch people on a new category, typically you are met with a blank stare. People won’t listen to your whole spiel about what it is that you do. Much better to anchor on an existing category that they already understand, that way they can infer all sorts of features they assume you probably have without you having to explain anythin... See more