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Entrepreneurship and Business Development

Every entrepreneurial journey begins with solopreneurship. Mastery of this phase sets you on the path to success. Acquiring competence in distribution and marketing is key when launching a business.

If you're facing budget constraints for branding, consider making your leadership's presence felt on social media—a non-negotiable move.

Whether you're utilizing Google Ads, TikTok, Facebook, YouTube, or any other platform, the principle remains the same.

To transform an unprofitable campaign into a profitable one, you have just two options:

Lower your cost per conversion. Increase your revenue per conversion. This page offers a wealth of business learning materials and resources to deepen your understanding of Entrepreneurship and Business. Let's dive in:

How to reduce your cost per conversion:

Increase CTR by lowering CPCs (w/ CPM model)

  • Lower manual bids
  • Test bid models: CPC vs target CPA, lowest cost conversion etc.
  • Increase CVR
  • Block placements, demographics, time of day

How to increase your revenue per conversion:

  • Increase conversion rate
  • Increase LTV (revenue per sale or sales per customer)
  • Increase referrals (1 paid user => 1.x total users where x > 0)
  • Increase virality (ex: paid Twitter ads retweeted = free impressions)

3 ways to increase your conversion rate

1. Target higher intent users

This is self-explanatory:

  • Keywords / negative keywords
  • Audiences, demographics, interests
  • Placements, devices etc.

2. Simply improve your ads to increase appeal.

The right appeal (value prop) makes or breaks any campaign.

3. Improve your landing page

1/ Explain the value you provide (title) 2/ Explain how you'll create it (subtitle) 3/ Let the user visualise it (visual) 4/ Make it believable (social proof) 5/ Make taking the next step easy (CTA)

Understanding growth cycles

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So why are loops better than funnels?. In order to get more out of the need to put more in at the top. This means more money.

Where funnels focus on linear growth.

Growth loops focus on compounding growth.

What are loops in business?

Loops are "closed systems where the inputs through some process generates more of an output that can be reinvested in the input." - Andrew Chen

  1. Viral Acquisition Loops
  • User signs up
  • Invite or content is sent to friends
  • % of friends click the link
  • Those users engage with the invite or content
  • % of those users sign up

PayPal is another great example of using a viral acquisition loop.

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2. SEO & UGC Acquisition Loops

  1. User searches and finds content
  2. % of those ppl sign up and create content
  3. Search engines index the top content
  4. People search for content
  5. They find it
  6. % sign up
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3. Pinterest Growth Loop

  • User signs up
  • Specific/ Relevant content activates user
  • User saves and repins content which gives Pinterest quality signals
  • Content -> Search Engines
  • User finds content via search engines and either signs up/returns
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4. Survey Monkey Growth Loop

  • New user signs up
  • % of users create a survey
  • % of users send survey to others
  • Survey has a Survey Monkey landing page
  • % of surveyee's signup
  • Step one starts again
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5. Netflix Retention Loop

  • Consumer consumes content
  • Netflix uses behavioral data to determine preferences
  • Netflix curates a catalog relative to watching patterns
  • They recommend curated content
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6. PicNic's Market Expansion Loop

  • User joins a waiting list in an area
  • Once threshold is met -- they expand in that region
  • User places order
  • User recommends PicNic to a friend in different area
  • % join waiting list
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Business Hustle