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About the Episode
I absolutely love this interview. It’s with Will Bunker who start One-and-only.com which later became Match.com. He talks about how to talk to customers and why it’s more important to find the most eager customers. We talk about industries that will become obsolete in the upcoming years. And lastly, a topic that I’m very passionate about, why it’s okay to be running a lifestyle business.
Why It’s Important to Find the Most Eager Customers
Will shares that he started raising money 10x faster when he quit selling to people and instead, just filtered people who were interested in what he was doing. Just get yourself to the right audience as you couldn’t talk to every potential customer since there are just too many of them. All that matters to an early stage company is finding the most eager customers out of all potential customers. You do this by developing a framework and pre-qualifying them. If you will identify and satisfy these customers, you will start doubling and tripling your money very quickly. After that, you then move on to thinking of how to sell to reluctant customers.
It’s Okay to Run a Lifestyle Business
Will’s opinion is that lifestyle businesses get denigrated a lot in this industry because if you are in the lifestyle business, those people denigrating it can’t make money off of you. He brands this as hypocrisy and thereby deems it unfair to call someone working in lifestyle as unimportant just because they can’t invest in him and he is not venture-capable.These people build significant businesses that change their family’s lives and the lives for their employees and their own families.