Book Notes/Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours
Cover of Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours

Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours

by Noah Kagan

29 popular highlights from this book

Key Insights & Memorable Quotes

Below are the most popular and impactful highlights and quotes from Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours:

Overthinking seems like the “smart” way to launch, but it’s far less effective. Super-successful people do the opposite—they take action first, get real feedback, and learn from that, which is a million times more valuable than any book or course. And quicker! Most people: Overthink first, act later. Every successful entrepreneur: Act first, figure it out later.
Many struggle to make their first dollar because they are so focused on how to make their first million. Focusing on an attainable Freedom Number—even better, just dollar number one—will change the way you think: What can YOU do in your business to make money this week? Today? Right now?
Customers Want Solutions, Not Ideas Customers don’t care about your ideas; they care about whether you can solve their problems. And you should not build your idea into a business if you don’t know with 100 percent certainty that it’s a solution your customers will pay for.
Most people: Overthink first, act later. Every successful entrepreneur: Act first, figure it out later.
What percentage of your list opens every email because they feel like they know and trust you? A healthy email list has a 20 percent open rate. Target that.
There are two mistakes one can make along the road to truth . . . not going all the way, and not starting.
The goal here is to document what YOU do, not what you think everyone else should do. When you position yourself as someone who is on a journey and document your process and your progress, you become relatable, and that is what audiences long for. Some of my most popular videos feature me failing, often. It’s fascinating that people want to see what’s really going on, not the highlight reel we think they want.
Before you even think about picking a business idea, make sure you have easy access to the people you want to help. An easy way to do this is to think about where you have easy access to a targeted group of people whom you really want to help—like, say, new moms in Austin, cyclists, freelance writers, and taco obsessives (like me!). CHALLENGE Top three groups.
The thing is, most people don’t ask for what they want. They wish for it, they make “suggestions” and drop hints, they hope. But the simple fact of business is that only by asking do you receive what you want. No ASK? No GET. That applies to every part of life. Seriously, every part.
How can you accessorize the product (for example, stickers for an iPhone) or sell a service to those people (teaching someone how to use an iPhone)? It’s easier to sell to a large group of people who’ve already spent money on a product or service. Some ideas could be: Customizing Nike shoes. Video game tutorial for an Xbox game. Teaching computer novices how to use a MacBook.
Most people never pick up the phone, most people never ask. And that’s what separates, sometimes, the people that do things from the people that just dream about them. You gotta act. And you gotta be willing to fail. —Steve Jobs
Use the motto NOW, Not How. PRO TIP: Next time you are overthinking and not taking action, tell yourself to prioritize taking action NOW and don’t worry about the HOW. After you do this ONCE, you quickly get momentum and it becomes easier and more natural.
That meant starting small, starting fast, and not worrying about what I didn’t know.
YouTube is simply the best way I’ve ever seen to grow an audience—and an audience of quality—for free.
The secret to my father’s mastery of selling in a language he barely spoke is one word: chutzpah. It’s the Yiddish word for moxie, nerve, audacity; it’s a determined, give-no-f*cks approach to life. When Israelis say you have chutzpah, they mean you know what you want and go for it. They mean you have endless tenacity. They mean you’ll do what it takes.
I was beginning to see that to live well as an entrepreneur, I just needed to stop thinking so much and go get busy. That meant starting small, starting fast, and not worrying about what I didn’t know. I became an expert at taking leaps. Being unafraid to start new things meant that, unlike most people, I was constantly conducting experiments in my personal and professional lives, in both big and small ways. New industries. New hobbies. New technologies. New roles. New people. New side hustles. That’s where I found my superpower, which taught me a lesson I want to pass on to you: focus above all else on being a starter, an experimenter, a learner.
I always advise sending your best Content Email (free course, best articles or videos, content most useful for your audience, etc.) in the beginning. The reason is simple. For each subscriber, open rates usually start high, then decline after a few emails. So show subscribers your best work to minimize that decline.
Then I remind myself of Rejection Goals: “This is going to suck. Let me aim to get at least twenty-five rejections.” That
I shook my head. “So many noes. No, no, no, no. All day. Doesn’t it make you want to quit?” I asked. My dad replied with something that would change my life: “Love rejections! Collect them like treasure! Set rejection goals. I shoot for a hundred rejections each week, because if you work that hard to get so many noes, my little Noah’le, in them you will find a few yeses, too.” Maybe that’s why he named me NO-ah, to remind me of this daily to keep going. Love rejections?! Set rejection goals?!
I just told you about the importance of asking. Well . . . To get my book into the hands of the people who need it most, I need your help. If my book has been helpful, can you take thirty seconds right now and leave a short review? Think back to why you decided to pick up this book and give it a chance. Maybe it’s because a five-star review on Amazon or Goodreads caught your eye. Leave a review and give someone else the opportunity to start their Million Dollar Weekend. Before I started writing this book, I met Matt, who works security at the Austin airport. He has the same dream as you, to create a business so he can change his life, but he may never hear about this book. Your review means the world to me AND it could change the world of someone else, like Matt. Feel good about yourself knowing your brief review can change someone’s life forever. The review costs you no money (my favorite price) and only takes thirty seconds. You can go to the book’s page on the Amazon app or desktop site, or wherever you bought it, and leave a review there. On Kindle or an e-reader, scroll to the last page of the book. On Audible, go to your library page and click Write a Review. BTW: I read every single review. And when your review happens, an alarm goes off in my office, my mom tells me about it, and our entire team celebrates like we just won the Super Bowl. Now back to your Million Dollar Weekend. —Love you forever, Noah
1. Find a problem people are having that you can solve. 2. Craft an irresistible solution whose million-dollar-plus potential is backed by simple market research. 3. Spend NO MONEY to quickly validate whether your idea is the real deal (or not) by preselling it before you build it.
It is deadly to build a business without first verifying that there are paying customers.
That’s why, when it comes to generating business ideas, customers come first. Before the product or service. Even before the idea. To build a business, you need someone to sell to. I can’t tell you how many times someone has emailed me saying, “What do you think of this business idea?” My auto-reply? “Have you asked what the customer thinks?” Steve Jobs said, “You have to start with the customer experience and work backwards.” Jeff Bezos, too, insists everyone at Amazon use a Customer First Approach to generate ideas and decide which to develop. The first of his sixteen Leadership Principles—Customer Obsession—starts by saying, “Leaders start with the customer and work backwards.” Working backwards prioritizes access to a group of customers (a group you probably belong to) and focuses on an aspect of a customer’s life that doesn’t work. If you do it this way, you’re assured of nailing the three Ws of business right from the start: Who you are selling to What problem you’re solving Where they are Your goals in this chapter are to use the Customer First Approach, to narrow in on three markets that you’ll target, to use your knowledge and experience of these markets to generate lots of ideas, and then to choose the three you think are the most likely to succeed. It’s the first step in the three-part Million Dollar Weekend process, in which you’ll learn to sell ideas to a small early adopter group before you’ve built the product (or spent a cent) in order to validate that there is a market that will pay. Repeat, fast and cheap, until it hits. Experiment, experiment, experiment—BOOM!
PRO TIP: Look for something working in one category and bring it to another. One of the largest drivers of AppSumo’s email list was giveaways. We realized this only after seeing a giveaway in a women’s fashion online site and trying it out ourselves. Sign up for and observe companies outside of your target market for inspiration.
PRO TIP: When in doubt, solve your own problems. If you are willing to pay for a solution, it’s likely others are, too. And at least you’ll have one happy customer—yourself.
Now Where Do You Find Customers? When novice entrepreneurs search for opportunities, they too often look beyond their Zone of Influence. They think the action is happening somewhere else, in some other location or industry. But seasoned entrepreneurs almost always find and create opportunities within the context of who they are, what they know, and especially who they know. In each of the examples above, the business validation process begins with potential customers in the entrepreneur’s orbit. Actual people with names. Tribes you belong to or are interested in, most of whom are already self-organized online. People you know how to reach, today. Though it’s rarely a part of their official origin stories, the biggest companies in the world—even the viral apps now worth billions—started through personal networks and real human connections. Mark Zuckerberg started Facebook in a weekend by emailing friends to use it. Version 1 did well, validating it. And Microsoft started with Bill Gates building software for a guy in Albuquerque. He had a CUSTOMER FIRST. In the beginning, founders should reach out to their friends, their former colleagues, their communities. You may think your business is unique, but trust me, it’s not. Every successful business can start this way. For example, Anahita loves her dogs and wanted healthier snacks for them. She started taking her homemade organic dog treats to her local dog park. She would sell out every time. A year later she now has a store called the Barkery, a dog bakery. Before you even think about picking a business idea, make sure you have easy access to the people you want to help. An easy way to do this is to think about where you have easy access to a targeted group of people whom you really want to help—like, say, new moms in Austin, cyclists, freelance writers, and taco obsessives (like me!). CHALLENGE Top three groups. Let’s write out your top three groups to target. Who do you have easy access to that you’d be EXCITED to help? This can be your neighbors, colleagues, religious friends, golf buddies, cooking friends, etc. The better you understand your target group, the better you can speak to them. The more specifically you can speak to their problems, the better and easier you can sell (or test products). Note how this process prioritizes communication with people, through starting (taking the first iteration of your solution straight to customers) and asking (engaging them in a conversation to determine how your solution can best fix their problem). Business creation should always be a conversation! Nearly every impulse we have is to be tight with our ideas by doing more research, going off alone to build the perfect product—anything and everything to avoid the discomfort of asking for money. This is the validation shortcut. You have to learn to fight through this impulse. It won’t be easy, but it’ll be worth it.
Become a Problem Seeker The best entrepreneurs are the most dissatisfied. They’re always thinking of how things can be better. Your frustrations—and the frustrations of others—are your business opportunities. Great ideas come from being a problem seeker. Analyze frustrations in your day, including the things that bother you at home, waste your time on your commute to work, or online. Here’s a list of things that bother me: What to make for breakfast that’s quick, healthy, and full of caffeine How to find a reliable house cleaner Where to go to dinner with my partner How to find my next therapist What kind of investment to make with some extra cash I received And these are just the problems I’ve encountered today. I could go on and on . . . and that’s the point! The number of things that can be better are endless—which is a gold mine for newbie entrepreneurs. The crucial first step toward entrepreneurship is to study your own unhappiness and to think of solutions (aka business opportunities) for you to sell.
The Idea Generators So let’s open the net wide and get down to generating ideas . . . I mean problems! Here’s what the process of coming up with a million-dollar business idea does NOT look like: Getting on TikTok or YouTube and mindlessly copying whatever the influencers say is working for them Getting struck with the perfect vision for a genius new product Meditating, following your passion, and brainstorming Following any other woo-woo method that promises inspiration in a box Here’s what the actual process looks like: What’s the most painful (aka valuable) problem you can solve for people . . . That you also have passion for and/or unique expertise in . . . For the largest niche possible that you belong to and understand . . . Simple enough, but takes some light and fun brainwork. Remember to focus on your Zone of Influence here (your existing community): the 150 followers you have on TikTok, the 200 in your local Taco Aficionados group, the 300 in the WhatsApp group for your mountain biking club (not to mention the 143,000 in the subreddit r/mountainbiking). Your job as a problem seeker is to go to a community of yours. You can access all the idea challenges and more examples at MillionDollarWeekend.com. Now it’s your turn. Use the following four challenges to come up with at least ten potentially profitable ideas:
Here are the six Revenue Dials you can use: Average order value: Increase the amount someone purchases. Frequency: Increase how often someone will buy your service. Price point: Increase or decrease your price point to affect total sales. Customer type: Approach a more lucrative/wealthier customer segment. Product line: Add additional products to make the business more attractive to start. Add-on services: If you’re selling a product like cookies, can you offer a service like setting up birthday parties or cooking at the person’s home?

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