Mar 4, 2019 · 15m · top-founders
Fast Trick: How Your Competitors Are Getting Customers
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In this narrated excerpt from his book, Nathan Latka explains why copying proven business models outperforms unproven inventions and provides actionable research tools to reverse engineer competitor customer acquisition channels.
Statements from this episode (7)
Latka: Brand-New Ideas Almost Always Lose and Cost Boatloads of Money
“Brand new ideas almost always lose and cost boatloads of money.”
Latka: Winners Copy Competitors and Add a Twist Rather Than Invent
“Winners don't have new ideas. Rather, they copy the heck out of their competitors, then add their own flavor or unique angle to win.”
Latka: RevContent Processed $184M in 2017 Ad Spend, Taking 25%
“In 2017, RevContent processed one hundred eighty four million dollars of ad spend through its platform, collecting 25% of that as revenue.”
Latka: BuildFire Reached $2.4M 2017 Revenue and $300k Monthly MRR
“Since launching BuildFire in 2012, Ian has raised 2.5 million in investor funding and has 31 employees at age 25. His annual revenue in 2017 was 2.4 million dollars and his current monthly recurring revenue is 300,000 dollars per month.”
Latka: Bizness Apps Did $18M Revenue in 2017 and $1.5M MRR
“Today, Andrew, at age 28, has 90 employees with eighteen million in 20 17 revenue. His current monthly recurring revenue is 1.5 million dollars per month.”
Latka: Bootstrappers Should Enter VC-Funded Markets to Leverage Competitor Spend
“If investors are sinking all that money into one industry, they're growing the industry and making it easier for you to find new customers. You turn their resources into your resources when you join the space that they're pouring money into.”