I finished rereading Junk to Gold: From Salvage to the World’s Largest Online Auto Auction, an autobiography about Willis Johnson’s journey to build Copart. Its Amazon and Goodreads reviews were extremely positive: 4.8 and 4.4 stars, respectively. (I haven’t read many books rated that highly.) I’ve read many biographies since I first read this one, and this time, I wanted to understand why the book resonated so well with readers—I wanted to deconstruct his storytelling.

I figured out why readers enjoy this book so much. It’s simple, but genius. The story is told chronologically, which is ideal and not new. (Phil Knight mastered chronological storytelling by naming each chapter in Shoe Dog after a year in his journey.) But Johnson presented his story differently.

In most chronological biographies, each chapter represents a period in the subject’s journey. The reader is left to identify the important parts of each long segment and figure out why they’re important. The reader has to think a lot.

In Johnson’s book, in each chapter, he presents several lessons he learned during that segment of his journey. He titles the lesson (e.g., “Admit Your Mistakes”) and then includes a short story to explain how he learned it and the result.

The genius of this approach is that the reader doesn’t have to think. The big takeaway (i.e., the lesson learned) is stated clearly, and reading the story reinforces the lesson. This helps readers learn more of the valuable things Johnson learned.

This method eliminated any fluff; the book is short, only 172 pages. I think Johnson’s book is so highly rated because it delivers maximum value in a few pages (relatively speaking) and doesn’t require readers to figure out what’s important or why.

I like Johnson’s approach, and I’m thinking about how to use it in my project. Snippets of lessons learned supported by short stories is a great way to communicate with entrepreneurs. It might even be a framework I can use to concisely communicate the most important info from biographies.

I’m still on my journey to learn about marketing (see here). One way new companies can market is by defining their ideal customers (and the problem they solve for them) clearly and then figuring out where those people hang out. Instead of attempting to attract them to an unknown brand, go find them where they’re spending time and introduce your solution and brand to them.

So, how do you do this in a way that isn’t spammy and that builds trust in your solution and brand? I had a rough idea but wasn’t sure, so I did some research. I came across a video that gave a great tactical explanation of how a new company contributes to Reddit posts to market itself. Here are a few of my takeaways:

• The goal isn’t to siphon traffic from communities; it’s to become a respected member who adds value to the community.
• Being a respected community member is a long-term strategy, not a quick fix.
• Most people lurk in communities. Contributing is a way to stand out and attract people to you.
• On Reddit, in-depth responses to posts do well.
• Social status in online communities like Reddit and Hacker News is based on how much you contribute.
• Building credibility first is important. It can take months or even a year.
• When you’re contributing to a community, you never know which post will add outsize value to the community and increase your standing in it.
• Because specifics and details that aren’t normally shared or known are so hard to find, people love them.
• Each platform has a unique culture. Learn the culture of the platform

This is tactical advice, but I found it useful. I like the concept of contributor marketing because you lead with adding value to others, which feels more authentic and the way to earn not just customers but people who are fanatic about your company.If you want to watch this part of the interview, see here.If you want to see the Reddit post where some of the above learning originated, see here.

I’m finishing up Building a StoryBrand 2.0: Clarify Your Message So Customers Will Listen by Donald Miller. The book is about a framework for communicating your company’s solution and value add in a way that resonates with customers. A framework is an approach to thinking about problems in a way that increases your chances of identifying a superior solution. I’ve been embracing frameworks, and I now view them as valuable thinking tools that lead entrepreneurs to better solutions in less time.

Miller describes the psychology of customers, what strategies can influence their perspective of a company’s solution(s), and what’s needed to get them to act (purchase or take the next step in the sales process). One of Miller’s principles is that every person is trying to avoid failure. If you can communicate to customers the downside of not using your solution, you position yourself as helping them avoid failure.

Miller, expanding on this idea, shows that one reason it works so well is human psychology—specifically, loss aversion. Loss aversion is a cognitive bias. People perceive losses as being more significant than gains. Someone can lose $1 and then gain $1, but the lost dollar will feel more painful than the dollar gained will feel pleasant, even though the amount lost and the amount gained are the same.

If you can communicate the downside to not using your solution (lost status, time, etc.), your customer will want to avoid that loss and will be more inclined to purchase.

Loss aversion is a real thing, something I’ve noticed in myself when investing. Losses are inevitable when investing. I know this and expect them to be part of the process (but not too large). But when I’ve lost money in the past, it feels more painful than an equivalent gain feels pleasant.

I’d never considered loss aversion as a potentially useful strategy in marketing messaging, but Miller’s point makes a lot of sense. Now that I know this and I’m paying attention, I see this strategy in lots of ads.

Tying marketing messaging into psychology made things click for me, given that psychology is another topic I’m actively learning more about. Interestingly, Charlie Munger talked about loss aversion, and its implications for decision-making, a good bit in Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger. When multiple people who are credible say to pay attention to something, I take heed. Loss aversion is a cognitive bias I’ll consider more heavily in my decisions and marketing.

I’ve been learning a lot about marketing lately. It’s my Achilles’ heel, but I want to change that. To learn the big concepts in marketing, I’ve been reading books, listening to and watching podcasts on YouTube, reading newsletters, etc. I’m even debating attending a conference on written marketing, something I never would have done before.

Knowledge and wisdom are different. Here are my thoughts on this from an old post:

Knowledge is acquired by learning new information or being made aware of something. Learning about marketing is an example of acquiring knowledge. Knowledge acquisition doesn’t always equate to adding value. There’s another step.

Wisdom is the ability to apply knowledge in a manner that aligns with the outcome you desire. Wisdom means changed behavior and improved decision-making—knowing what to do and when to do it. Wisdom is acquired from experience (yours or someone else’s). Growing your company through marketing execution is the result of wisdom.

I’m now trying to move from acquiring knowledge about marketing to gaining wisdom. I’m getting experience by applying my knowledge and running tests on this blog. Here are a few things I’ve been doing:

• Titles – David Ogilvy’s books (and my most-read blog post in 2024) helped me understand the importance of titles. The content can be great, but if no one is curious enough to read it, it doesn’t matter. The title is critical to generating curiosity. My blog post title was an afterthought before. I’d throw something together just before I published to say I checked the box. I’m now more intentional about titling and have the beginnings of criteria for my blog post titles. My titles are much better than before I learned about marketing, but I still have more work to do.
• Descriptions – Similar to the titles, descriptions were a check-the-box exercise before. Each blog post has a description that’s visible in Google search results. I’m now making it a priority to write descriptions that generate curiosity.
• Tagline – People need to know what this blog is about, so I’ve added that info to the tagline. I also added a personal flex and credibility booster by including my number of consecutive posts (1,775+!). Now people know this blog is about entrepreneurship and biographies. The messaging in this tagline might still change, but it’s better than before.
• Calls to action – Marketing is all about getting people to act, usually by buying something. I’m not selling anything, but I still want to test getting people to act through my marketing efforts. Persuading them to subscribe is my focus. I’ve never made it a priority to get subscribers, but I’m changing that. A pop-up has been added to the bottom of blog pages to prompt readers to subscribe. I’ve added some text to the pop-up to test my messaging skills. I’m trying to clarify the value add, but I don’t love what’s there now. I’ll keep iterating on this message.
• Awareness – Awareness is broader; it focuses on optimizing for search engine optimization (SEO). Titles, descriptions, and a bunch of other stuff are being refined to help make posts show up in Google and AI app search results.

Those are most of my marketing efforts underway now. I’m learning a lot from doing them. As I read and learn more about marketing, you’ll likely see more changes to this blog. Everything won’t work, and I’m OK with that. The goal is to acquire wisdom through my own experiences.

I’m a few months into conquering my Achilles’ heel: marketing (see more here). I never understood the big concepts in marketing. More importantly, I never tried to understand them. And I paid the price for it. Not understanding marketing and not hiring someone to fill that gap prevented me from growing my company past our $10 million peak. I’m confident that the company could have gone to over $100 million in annual revenue if I’d filled that gap.

I’ve been reading a lot about marketing over the last few months. Right now, I’m focusing on messaging and telling your company’s story. This means how you position what you’re selling to your customers. From lots of reading, it’s clear that the foundation of messaging (and all marketing, really) is the problem. You must be clear about what problem you’re solving.

This seems pretty straightforward, but it’s not. I went years in my last company without having a clear idea of the root problem we were solving for our customers. Lacking that, I also didn’t have a target customer profile (i.e., what people were experiencing this problem). Therefore, I didn’t know how big our market was (how many people exist that have the problem). Because I didn’t know the market size, I didn’t realize how big the opportunity was. Because I didn’t know how big the opportunity was, I hired based on where we were, not where we could go. There were more downstream implications (that weren’t good), but you get the idea.

Not having a clear idea of what problem I was solving was a major mistake. I was so focused on revenue that I missed the bigger picture. I couldn’t see the forest for the trees and missed out on building my company to over $100 million in revenue.

After learning more about the big marketing concepts, I now realize that not having a clear idea of the problem made it harder for me to understand marketing. It’s difficult to create an effective message when you don’t know how you’re creating value for customers and who those customers are.

Businesses exist to sell solutions to problems. If you’re not clear on the problem, selling (and marketing) your solution is many times more difficult.

One of the things I want to do is expand the reach of the content I share on my blog. I’ve been studying marketing for the last few months (see here), and I’ve learned that a big part of marketing is making people aware that something exists. I figure my blog content is a good way to do some more learning by doing.

One thing I noticed and have read about is that people are now posting blog-type content directly on platforms instead of directing them back to their website. Instead of sharing a link to their blog, they’re posting the blog content directly on X (formerly Twitter) or LinkedIn, for example. Apparently, if your post includes a link to content off the platform, the platform’s algorithms show that post to fewer people.

Learning this reminded me of how I started. When I began blogging in March 2020, I wanted to start in as frictionless a way as possible. I didn’t have a blog site, but I did have a LinkedIn profile. LinkedIn allowed you to post “articles,” so I started sharing my daily posts as LinkedIn articles. Those did well because of my built-in LinkedIn connections. After my writing habit was fully formed months later, I bought a domain, designed a website, transferred my old posts to the website, and started posting daily on both platforms. Then, I stopped sharing content via LinkedIn articles and started creating posts that linked back to my blog site. Eventually, I stopped LinkedIn altogether after about two years and posted exclusively on my blog.

Well, I want to test some of the marketing tactics I’m learning by helping my blog content reach more people, so I’ve been debating posting my content on other platforms. Basically, I’ll start doing what I used to do. I’m familiar with LinkedIn, so it makes sense to start posting there again. I want to learn X, so it also makes sense to post there.

The concern is that I’ll have to manage posting on three platforms—my blog, LinkedIn, and X—every single day. One is fine, but three I’m not sure about. I’ll continue to ponder it a bit, but maybe instead of going from one to three, I should go to two and then move to three after I’m comfortable with the second platform.

A few weeks ago, I shared that I was going to start putting energy into better understanding marketing, or at least its concepts. Making a great solution isn’t enough—you must get it into the hands of people who can use it. That’s the important role marketing plays, and that’s why I want to understand it better.

Since that post, to understand the big concepts, I’ve been reading biographies of entrepreneurs who founded marketing agencies. I’ve also been consuming interviews on YouTube in which founders share recent growth strategies.

I still have a long way to go. Indeed, marketing will likely be something I study continually going forward. But I do have a much better understanding of marketing now. Reading biographies about entrepreneurs who deeply understood the craft of marketing and built businesses to help others market really helped make things click.

I’m excited about marketing now. Before, I didn’t understand it and was annoyed by it. But understanding it better has made me want to continue to learn about it, and I’m excited to try marketing my next idea!

I’ve been learning more about marketing recently. Last week I finished reading the second book about David Ogilvy. He was a famous advertising entrepreneur who founded the agency Ogilvy & Mather. One of the points stressed in both books is how important a headline is.

Most people will read an ad’s headline, and then some percentage will read the rest if the headline catches their attention. David focused on the headlines because he understood that people will never read the body of an amazing ad if the headline isn’t effective. Great ad content alone doesn’t sell products—there must be a great headline too. Most people focus on the former, but the latter is equally, if not more, important.

I want to improve at thinking about and writing the equivalent of headlines. I’m going to practice with titles for my blog posts. I write these daily, so it’s a good way to get reps of something that David said matters more than people realize. If I get good at this skill, I’m sure it’ll pay off in ways I can’t imagine.

One of the things that prevented my company from reaching nine figures in revenue was our marketing. We didn’t have a marketing strategy, and execution wasn’t great either. We still managed to reach over $10 million in revenue—but despite our efforts, not because of them.

My company’s marketing efforts were a reflection of me, the founder. I suck at marketing. I don’t understand it, and I didn’t try to hire to fill my gap. Even today, I haven’t tried to understand marketing. Of course, I could—many people deeply understand marketing and have shared their wisdom in books and other content. I just haven’t put the energy into trying to learn it.

I doubt I’ll ever be a great marketer, but I think there is value in learning some of the timeless concepts and frameworks of marketing. This week I’ve decided that I’m going to try to learn them. I’m not exactly sure how it will happen. I imagine it will be a mix of reading and talking to marketing-minded entrepreneurs, but we’ll see.

Marketing has been my Achilles’ heel as an entrepreneur, but I’m excited to put effort into understanding it better. I think it will be fun.

I started working on a project today. I have zero experience in the space and had no idea where to start, so I did some research online. I found a service provider whose site answered all my questions and then some. It had videos and document templates and offered a quarterly masterclass to answer questions. After digesting some of this content, I understood what it would take to complete the project and decided it’s best to hire someone instead of doing it all myself. I decided to hire the company whose content was so helpful. In fact, I didn’t even consider anyone else.

I really like how this company is giving knowledge away, free of charge, to attract customers. No salesperson or email campaign tried to convert me to a customer. Just a self-serve educational process that reinforced to me that this company is credible and trustworthy but also positioned me to complete the project on my own if I chose to do so. I’ll sign up and likely have to talk to a salesperson to become a paying customer, but the salesperson will basically be processing my order instead of having to sell me. Actually, I’ll be pushing them to get me onboarded quickly so I can complete my project quickly.

If you’re an early founder who understands a problem and space deeply, consider sharing that knowledge broadly. It could be a great way to attract qualified customers and shorten your sales cycle.

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