Stupid Reason My Very First Business Failed After 21 Days

Stupid Reason My Very First Business Failed After 21 Days


– I want to talk to you today about the first ever business that I started. So let’s jump into it. The first business I started was a podcast called Music Process. It was in 2011 and it failed horribly, so I’d love to talk
about why that happened. In 2011 I got my first internship as an audio engineer at an
NPR station at my college. So I was working at the college and I noticed that a lot
of bands were coming in, and I was also getting
pretty into indie music. So I thought that the
market might find value in a podcast where I would interview bands and try to get the story behind each song. There’s a couple of good
podcasts out there right now that are like that, but nothing
was like that at the time. And I actually did end up
talking to a bunch of good bands. I talked to Fishboy, Rachel Platten, a few of these indie ones
that were up and coming. Rachel Platten’s actually pretty big now. But it was a standard
first business, right, it had no real monetization strategy, I even hired a coder to
build the website for like $1,500 or $2,000, he took a
percentage of the business, like it was total garbage. But the main reason the business failed is right before I started
the company I sat down and I wrote down a to do
list that was step by step. So day one do this, day two
do this, day three do this, day four do this, up to
I think about 21 days. And I had a lot of
willpower in the moment. There’s this quote from BJ Fogg who does psychology over at Stanford, and he says that when you have
little spurts of motivation you’re supposed to use your motivation to make to do lists or build systems rather than using that motivation to work. And the reason why that is is if you use that little bit of inspiration to create a system that
keeps you working for longer, then you’re doing more work overall versus just using that
little bit of inspiration to get a tiny bit of work done. So I did that and I did
my 21 day to do list, and I was working through it, right, interviewing the bands,
putting it up on the site, no promotion by the way, I
had no marketing plan at all, and the reason why it failed,
stupidest reason ever, is on day 21 I hadn’t created another day for the to do list, there
was no system set up in terms of every day I should be doing these three things on the podcast. It was literally me
brainstorming every single day trying to figure out what to come up with. So on day 21 I just didn’t do that, and so my to do list item for day 21 was come up with the
next 21 days to do list, but it was too big of a
task, I just didn’t do it. And because of that there was no to do list and the company failed. That’s literally as
simple as it was, right? And that’s why I focus so much now on systems and so much now on hiring. I talked about this in a previous video, but the only reason Experiment 27 didn’t have the exact same fate
is because I hired somebody. I hired Robert to do content production while I focused on sales. So every single day he was pinging me, asking me hey, what’s the next project, what’s the next thing
that we’re working on, and that’s the thing that kept me focused. Before that, I was never
able to go more than 21 days. Feel free to like this video to encourage this type of content on YouTube, subscribe for more B2B sales training, and if you want marketing
support for your digital agency, check out experiment27.com. Thanks.

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