Why Bootstrapped Founders Should Use These 5 Agreements To Scale Their Startup

Why Bootstrapped Founders Should Use These 5 Agreements To Scale Their Startup

One of my favourite stories of a bootstrapped founder is Clay Collins.

He’s the creator of LeadPages.net, and when I first met him he was doing $100K+ a month in recurring revenue.

As someone who came from the online education space, he knew his customers intimately and was an incredible marketer.

I still remember our first conversation and the questions I was asking.

I couldn’t believe the level of growth he achieved in only a few short months.

What I learned that day was the foundation for what I now call the Scaling Credo.

It’s a simple list of 5 things, that if you agree to, can dramatically impact your business.

They are counterintuitive, that’s why I wanted to cover them in this week’s video.

Now, this approach is particularly valuable for bootstrapping founders without outside investment.

Your resources are limited (time, team, capital), so you need to do less and focus on the right things.

The benefit of this credo is that it keeps you hyper focused on the critical elements of your business model.

Instead of trying to boil the ocean, it creates a focus filter for being hyper targeted in your efforts.

Here’s the list that I go over in detail in my video.

  1. ONE Target Market
  2. ONE Product
  3. ONE Conversion Tool
  4. ONE Channel
  5. ONE Year

Be sure to watch the video for the specific options you have for each item.

Understanding these steps, the power of focus, and putting ALL your resources into one decision will dramatically increase both your probability and speed of scale.

Like all good things in life, they require commitment.

Watch the video then leave a comment with which one resonated most with you.

Which are you committed to?

Can’t wait to read your answers.

 


  • http://www.trafficboost.io Bala S.

    Hi Dan,

    Amazing piece. This info is right there in front of us and we still end up stretching us so thin that everything goes up in the air. One target market – This one line has now solved a lot of doubts I had with a particular segment I am working with. Absolutely nail it before you go any further. One channel – So true, there are 19 (or more traction channels) and it would be a superhuman task to even try 2-3 channel testing at any given point of time. One Year – Wow that’s some reality check. Just thinking of all those years wasted trying out those shitty ideas, for all the customer segments, in multiple channels and a product that can solve so many problems.

    I am a super fan of Leadpages and its an amazing tool. Period.

    Also I like the way you start the video with some random question – Really good way to ease the first few moments in the video I am going to copy that for my channel. Hope its fine 😉

    Bala

    • http://twitter.com/danmartell Dan Martell

      Thanks Bala, big fan of focus.

      Also, appreciate the kind words on the video … every time I shoot I always ask myself how I can improve, get 1% better.

      I owe a lot to Alex Ikonn for challenging me … here’s the story
      https://www.youtube.com/watch?v=f_j7PFv7aXU

      DM

      • http://www.trafficboost.io Bala S.

        Hey Dan,

        That moment when you sit in a room – And speak to your iphone – The most awkward thing I have known. I was so embarrassed by my first video that I did not speak about it to anyone. It was just dreadful!

        Then I thought, lets give it a try and posted this on Medium – https://buff.ly/2yAkhGc
        This has got some confidence moving forward and I have started concentrating on producing more video content.

        Thx
        Bala

        • http://twitter.com/danmartell Dan Martell

          That’s awesome!

          Keep it up.

          DM

  • Lee Rubin

    Hey Dan! Great video (as always) – Doesn’t it seem a bit crazy to do ONLY i.e. email marketing for a full year before testing out any other vertical if you’re a small, bootstrapped, revenue positive team?

    • http://twitter.com/danmartell Dan Martell

      Lee, I’m not saying don’t test in the early days … but once you have something, go all in.

      If you need help finding the right channel, then I highly recommend the Traction Bullseye.

      https://www.youtube.com/watch?v=YmDfb75II44

      Hope that clears things up.

      DM

  • http://www.themartellexperience.com/ Natalie Davison

    “Indigestion”…. what a great analogy. 😬😬 really enjoyed this video Dan.

    • http://twitter.com/danmartell Dan Martell

      Yeppers… one of my mentors taught me this 10+ years ago.

      Especially as you gain more traction… because in the early days youre scrapping at anything, but as momentum builds things shift to a curation/editing function.

      Glad you enjoyed.

      DM

  • Rex Chan

    Great advice ! Need to spread your advice to Hong Kong …

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