#55 - Lead Gen Businesses, Islamic Finance & COVID-19 Virality
About This Episode
Sam and Shaan discuss the lessons learned from the failure of Justin Kan's startup Atrium and the 'curse of money' in venture capital. They brainstorm business opportunities in the natural hair care market and corporate gifting, while also dissecting the unique operational rules that make Trader Joe's a retail powerhouse.
Episode Description
Key Takeaways
Avoid the 'curse of money' by not raising excessive venture capital before achieving product-market fit, as it often leads to bloat and decreased agility.
Use the 'Rule of Reciprocity' in B2B relationships by sending small, personalized gifts to create a sense of obligation and increase closing rates.
To get honest feedback during reference checks, ask a former boss to rate a candidate from 1-10 and then ask what it would take for that person to become a 10.
Business Ideas Mentioned
Natural Curly Hair Care Kits
E-commerce
Slack Integrated B2B Gifting Platform
SaaS