Everything Jay Myers said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Myers: Product listicle search results rank items by affiliate payout, not quality
“And if you Google top 10 sunglasses, all of Google search results are going to be a whole bunch of pages that have top 10 sunglasses for the beach, for fishing, for golf. And those are all affiliate sites, like any ones of those you click. And usually fun fact…”
Myers: Pure social media ad acquisition is unsustainable for SaaS
“Very few people see success running just ads on social media. You have to have more like, that's like the tip that gets them in. And then you need to increase the value of those customers. Once they come in, if you have to do it, Sure. It's fine. But like long…”
Myers: Upfront credit card payment is the only true business idea validation
“Cause the ultimate vote You know, all your friends, if you have an idea, will tell you that's a good idea. Maybe one or two friends might be honest with you, but the ultimate vote is if you have an idea and you tell it and you say to your friend, Hey, I've got…”
Myers: Early software startups should treat first 10-100 customers as marketing channels
“The thing that's important early on for any software app company is your first 10 customers, think of them as your,
Marketing channel.
And so your early, it can be 10, it can be your first hundred.
I don't think you need to draw a line, but your first early cu…”
Myers: Software sells better by optimizing existing behaviors rather than creating habits
“Often with software, if you find someone already doing a thing,
And your software makes that easier or makes that more trackable, or then you will have someone willing to take out their wallet and pay. Cause it's one less thing you have to convince them of.”
Myers: Almost every SaaS company hits a subscription death curve
“Almost every SAS company has a growth curve that looks like this in the beginning, it goes up, up, and then it flattens and I call it the subscription death curve.”
Myers: Clubhouse grew fast because it capped invites at five
“The reason it grew so fast is when you installed clubhouse, You got five invites and that was it. What you didn't get one. You didn't get unlimited. You got five. So everyone thought strategically about like who they could invite.”
Myers: Profitable Activities Do Not Always Build Long-Term Enterprise Value
“I think this is an important thing that we've learned over the years at bold is you can do things that make money that don't build your business.”
Myers: Founders Face a Difficult Grieving Process After Selling
“You know what, Sean, there's a grieving process, and I don't care who out there, if you care about your business, and it's your baby, boy, it's tough, but you know, you gotta figure out a way to deal with it.”
Myers: Sell when the business is ready, not when founders are
“It's not when you're ready, but when the business is ready.”
Myers: Rapid Day-One Kickstarter Funding Triggers Algorithmic Snowball Effect
“Then when your crowdfunding campaign goes live on Kickstarter, you have a list of 10,000 people to email who are probably going to back. And then what that does is once it gets backed, if you reach your goal quickly, it ranks high in Kickstarter, which means y…”
Myers: Audited financials shrunk Interactive Solutions' sale process to five months
“In our case, we did that, and what could have been a 12 or 18 month process was shrunk down to whatever, four or five months.”
Myers: Personal Goodwill Allocation Saved Hundreds of Thousands in Taxes
“In our case, it saved hundreds of thousands of dollars in taxes because the tax rate was that much different. And I don't remember the exact percentages off the top of my head, but they were significant.”
Myers: Interactive Solutions reached $25M in sales around 2011
“I guess it was a, 2011, we went from whatever those millions of dollars to twenty-five million in sales, and then we really started getting the calls, and I still blew them off.”
Jay Myers: Interactive Solutions grew roughly 1,500% over five years
“I think we grew like 1500 and something percent in a five year period of time”
Myers: Interactive Solutions acquirer made initial offer without price guidance
“In terms of the money, I mean, we never really talked about money until they made their offer. I mean, I never said I need, you know, it gave them a range or anything like that. They just made the offer, and, you know, I contemplated it, then ended up counteri…”