Nathan Barry (@nathanbarry) knows better than anyone: Sometimes, you're working hard on something, and it's just not happening. How do you decide whether to double down, or shut down?
This is what Nathan was asking himself two years after launching his email service, ConvertKit. He was bringing in only $1,500 a month, and he was losing customers every month.
It was time to decide: Double down, or shut down.
Today, ConvertKit brings in much more than $1,500 a month. They recently had their first million dollar month.
Spoiler alert: Instead of shutting down, Nathan did double down. Today, we’ll analyze how he made that decision:
When Nathan decided to double down, he had no idea if his business would succeed. How did Nathan – and his spouse – mentally prepare for the worst-case scenario? Nathan had to dig into his savings to the tune of $100,000 to double down on ConvertKit. What criteria did he use to know whether or not to quit. What was the one question Nathan asked himself that ultimately got him to double down?This is a super valuable conversation. It's incredibly helpful if you've been working on a project that just isn't taking off. I've used this conversation myself to think about this podcast, how I define success, and how I should divvy up my own resources amongst my various projects.
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Show notes: http://kadavy.net/blog/posts/nathan-barry-podcast/
83. 12,500 hours of deliberate rest. Alex Soojung-Kim Pang.
82. Stop thinking. Start doing. Three simple ways.
81. Go with your Hunch. Bernadette Jiwa.
80. Why "Hustle?"
79. Jeff Goins returns! Be a thriving artist (not a starving artist)
78. Who wants to be a billionaire? (not me)
Seth Godin
76. Don't write a New York Times best-seller
75. Chocolate. Danny Michlewicz, founder & chocolatier at Colombia's Tilín Cacao.
74. Don't join a podcast network for the wrong reasons
73. Sean Stephenson. Choose growth.
72. Quit your daily routine. Start your weekly routine.
71. End the attention economy. STEEM's Ned Scott on Steemit, cryptocurrency-driven social media, & the blockchain
70. 7 lessons from my neighbor, Warren Buffett (lifestyle design, self-investment, habits, principles, & building Berkshire Hathaway)
69. Be creatively persistent. Bachata dancers Ataca y La Alemana (Jorge Burgos & Tanja Kensinger) on using YouTube fame to build a business in latin dance.
68. 10 unconventional ways to achieve full focus (sleep, mindfulness, minimalism, & travel)
67. Ryan Hoover of ProductHunt: Start with community (community-building, culture, & mentors)
66. Read more books by hijacking your habits (Facebook, reading, & self-improvement)
65. Getting writing done. Joanna Wiebe of Copy Hackers & Airstory (building an audience from an information business into a SAAS)
64. Write first. Coffee later. (optimizing creative productivity by protecting focus in the early morning)
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