I created a product, and they chose me (and I didn’t like who I got). Remember, that you’ve got to talk, teach, sell and be with these people for the rest of your business life, so CHOOSE CAREFULLY! In the book I talked about how one day, 6 or 7 years into my first company, I woke up SO miserable because I didn’t choose my customers. The FIRST question you need to ask when you’re creating a company is WHO do you want to serve? So, now that you understand that, hopefully the “Secret Formula” graphic above will make more sense.

The sooner you learn that, the happier (and richer) you’ll be. They paid for it, BECAUSE OF THEIR CUSTOMERS / USER BASE. It wasn’t because of their product… heck, my team could have knocked off their technology pretty easily, and I’m sure that eBay and Facebook could do the same in about 2 minutes… Just think about it – why did eBay pay a few billion $’s for skype? Why did Instagram get their huge check from Facebook? Most entrepreneurs (me included) – when we first get started, it’s usually because you have a cool idea for a product or a service, so you get excited, and then you go and create it.Īfter it’s done, then you go and start selling it… right? (I talk more about it more in the book, so be sure to re-read Chapter #1 so you don’t miss any of it.) So, I’m giving it to you now (again) as a special gift. I would have saved a ton of time and literally millions of dollars. I WISH that someone would have pulled me aside when I first got started and explained this to me. I wrote about a few of them in the book – but I also (in Chapter #1) shared a simple process I call “The Secret Formula” and shared with you the same image that you can see above in this post. When I started my first online company over a decade ago, I made a LOT of mistakes. Ok, now that you have it, we can have a serious conversation about what’s important. Have you read the DotComSecrets book yet? If not, go get your free copy here first…

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