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1/ Things failing entrepreneurs say that could be solved by reading books:

"I have to do everything myself!" -> The E Myth by @MichaelEGerber

"I have no time to WORK" -> ReWork by @jasonfried / @dhh

"My customers don't get it" -> Made To Stick by Dan and Chip Heath
2/ "I'm surrounded by idiots!" -> Top Grading by @DrBradSmart

"I can't make my employees care as much as I do" -> The Tao of Charlie Munger by David Clark / Influence by @RobertCialdini

"My customers won't pay us enough" -> The Secrets of Power Negotiating by @RogerDawson
3/ "I hate this industry" -> Modern Monopolies by @AlexMoazed

"I need to go to business school" -> The Personal MBA by @joshkaufman

"I don't know how to grow" -> Getting Everything You Can Out of All You've Got by @RealJayAbraham

And so many more...
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Andrew Wilkinson
@awilkinson
In 2019, I set out to do something simple:

Recreate the local newspaper in digital form, by creating a simple daily newsletter focused on Victoria, Canada, my home town 📰

I hired a journalist and we started sending out a quick summary of what’s happening every day at 7AM...
We wanted to give people a quick overview of what’s happening (news, events, sports, arts) in 2 min or less.

Something you can skim over your morning coffee, like the front page of the newspaper, to feel more informed.

I figured it would be a short lived goofy experiment...
After all, local/community news is dead, right?

Nope. Not at all...
Read 14 tweets
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Andrew Wilkinson
@awilkinson
Real estate agents are one of the most egregious examples of misaligned incentives:

“It’s just 2.5%”

If I came to you and said “hi I’d like $25,000 for unlocking a few doors over a few weeks” you’d tell me to pound sand.

But a few % sounds like nothing so people go for it...
“It comes out of the sellers pocket”...

Not true. If you don’t use an agent then you should be able to lower the price by the equivalent amount...
“They help you negotiate a better price”

Rarely. As a buyer, $100k savings to you REDUCES your realtor’s fee, so they have an incentive to convince you to pay MORE...
Read 5 tweets
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Andrew Wilkinson
@awilkinson
We never had venture funding, or even access to bank debt, in the early days.

Because of this, Chris and I were maniacal about keeping costs down.

We'd negotiate EVERYTHING.

Furniture. Credit card fees. Software. Leases. Coffee beans. Paper.

You name it, we negotiated it.
At first, it was painful.

We didn't know how to negotiate without upsetting people.

But over time, we built out a friendly process and mastered it.

We realized that by just calling around to different places and asking nicely, we could often save 10-30%...
It worked for software, credit card processing fees, web hosting. All sorts of stuff.

And it made a big difference.

Every dollar saved was an extra dollar to hire more people, grow faster, and start more companies...
Read 15 tweets

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