I went to the library yesterday and picked up the book - What It Takes by Stephen Schwarzman.
Stephen is the Founder and President of Blackstone - one of the worlds largest private equity firms.
You just can’t talk to people like this…
But you can read their books and hopefully pull at least 1 thing from them.
This is a side note:
I read Shut Up & Listen by Tilman Fertitta yesterday.
Tilman is the owner of the Houston Rockets…
It was such a fantastic book and you can tell he is a billionaire because he literally didn’t waste one word in the book.
It was just 5 chapters of direct, straight forward business advice.
This week, I have been playing defense.
My cash is tied up in inventory that hasn’t arrived yet so I have no money for ads.
I got my first set of refunds and returns due to sizing issues…
And last week was my worst sales week since the launch.
So I went to the library to reset and find an idea…
Every obstacle you encounter is a challenge that can make you even better.
- When sitting on High Inventory, Low Cash: How can I effectively move product?
- To drive more online sales with sizing concerns: How can I give enough information for people to buy with certainty?
- Finally - When you have to slow down the ads and are fully reliant on organic social: How can you drive even more traffic to your page & site?
When I got to the library I wrote out all my main 3 problems and 5 solutions that are going to solve them.
I then put 3 books in front of me:
- The Infinite Game by Simon Sinek
- The Startup of You by Reid Hoffman
- What it Takes by Stephen Schwarzman
The Infinite Game taught me that it is more important to stay alive than to win a fight that has no definite ending.
Essentially - slow down & make sure you can keep playing The Startup of You reminded me about getting rejected from that job at a vc firm in Chicago…
Key - Become undeniable by building your own lead gen engine and audience.
Afterwards - I opened What it Takes by Stephen Schwarzman I flipped through a few pages and found this gem….
He wrote “People in a tough spot will focus on their own problems when the answer may lie in solving others.”
I had been flirting with the concept of introducing a second show since last week.
I invited a bunch of entrepreneurs to my photoshoot to try to execute this and even filmed pieces of it over the weekend but I didn’t have any real footing or concept yet.
My brand has never been about selling dress shirts and has always been about building a platform supporting and showcasing others….
I realized - if I want to sell my own products - why don’t I collaborate with other people and help them sell theirs.
This led me to my second show…
Obviously - I have Game of Power: my podcast.
Which is a long form conversation that I absolutely love because I can contact people that I want to learn from and have an excuse to ask questions for over a hour.
But I wanted something more short form, snackable, collaborative, and discovery based.
It brought me back to my sunday nights back on IG Live…
So with that being said - my new show is: ‘Power Players’ a 60 second product pitch directed at new customers that don’t know about your business.
Shark Tank is geared towards investors: would you invest?
I want this show to be - would you buy this?
It is funny because I did something similar back when I was running FITS…
The problem was - I was obligated to sell the products on my marketplace.
Now, I have less skin in the game and no constraints on who can join the show.
This should be pretty fun!
If any of you know startup founders that have built a physical product, please send me their info, I would love to get them on the show!