Effort is the Hack to Startup Success

👋 Hello, welcome to the Startup Hustle! I’m your guide, Matt Watson. I share weekly tips from my 20+ years of startup founder experience and stories from other entrepreneurs from the Startup Hustle podcast.

Know anyone who is hiring software developers? I am paying up to $10,000 for referrals to companies looking to expand their development teams!

We do Javascript, PHP, .NET, React, mobile, and all the other things!

Just reply to this email, and let’s chat!

In this week’s podcast episode with Steve Claydon, he said something that profoundly stuck with me.

“Effort is THE hack!” 

Mind blown.🤯

As startup founders, we're constantly looking for the next big growth hack, the magic button that will get us unstuck and solve our biggest problems.

But here’s the harsh reality: there is no easy button, and no hack can substitute effort.

Steve summed it all up so succinctly.

The difference between those who succeed and those who fail often comes down to this simple yet profound truth.

Effort doesn’t guarantee success, but it is critical to almost every phase of starting a business.

Today, let’s discuss some examples where effort is critical.

Validating Your Idea

A prime example of this principle in action is when you first start a company.

It is time to validate your idea.

How? By conversing with dozens of people.

You must manually contact potential customers to gather feedback about your idea. Will they pay for it, use it, or recommend it?

It is much easier to ignore this process and build something, assuming everyone wants it. That is also why so many startups fail.

They skip this part because… it requires a lot of effort.

Building the Product

Building a software product might seem straightforward—just a bunch of code, right?

Even AI like ChatGPT can write code now! (so they say)

However, the truth is that product development is incredibly challenging because it requires a lot of decision-making and user feedback.

Writing the code is the easy part; knowing what code to write is the hard part.

Most software development projects fail because the necessary effort isn’t put into figuring out what software should be created and how it should work.

Validating your original idea is just as much work as validating the product as it is being built.

Product development comes down to effort in planning and validation. These are also critical steps you can’t skip.

Raising Capital

Raising capital is another domain where effort is the key because it's a numbers game.

You’ll need to speak to many people, expecting that 90% will not be interested.

You have to persevere, follow every lead, and keep asking who they know that might invest. It is a daunting task that feels like a never-ending maze.

Every “no” teaches you something new and refines your process, improving your odds for an eventual “yes.”

The struggle with raising capital is deciding whether your efforts should be better spent finding customers or chasing investors…

Sales, Sales, Sales

Sales is the ultimate test; everyone is looking for a magical growth hack.

Those bots that spam everyone with sales pitches aren’t going to yield great results.

Success in sales requires focusing on quality, reaching out to people with targeted offers, and providing relevant content that matters to their specific needs.

This process requires… you guessed it… a lot of effort.

Moreover, follow-up in sales is critical.

It’s challenging when people express tentative interest or suggest they might need your product in a few weeks or months. How do you remember to follow up effectively?

Sales follow-up requires a lot of effort and is often a number game.

Make sure you listen to my episode with Steve, in which we discuss some best practices in outbound sales.

The Startup Hustle

Startup success is a complex mix of having the right team, the right idea, market timing, a sprinkle of luck, and immense effort.

One of my favorite quotes is by Mike Tyson: “Everyone has a plan until they get punched in the face.”

This quote perfectly sums up the life of a startup founder.

We face setbacks frequently, sometimes weekly, or even daily. We overcome these challenges through perseverance and relentless effort. Often, it feels like we must will our startups into existence.

If you want to be successful, you have to put in the hard work, and it helps a lot to have co-founders or employees you can count on to make those key contributions.

Business growth comes down to being good at the fundamentals and then scaling those fundamentals. There is no magic growth hack.

Effort is the hack, and I’m exhausted.

Want to be a guest on the Startup Hustle podcast? Apply here!

Helpful resources:

Are you a practical founder bootstrapping or lightly funded? Subscribe to the Practical Founders newsletter.

If you don’t have a CTO, I highly recommend a fractional CTO! Use my special discount and get one for $4,500 a month at Fraction.

Did someone forward this email to you? Sign up here!