{"id":2195,"date":"2025-12-29T17:38:15","date_gmt":"2025-12-30T01:38:15","guid":{"rendered":"https:\/\/dmkthinks.org\/blog\/?p=2195"},"modified":"2025-12-29T17:38:16","modified_gmt":"2025-12-30T01:38:16","slug":"what-i-learned-starting-and-failing-with-a-new-business-idea","status":"publish","type":"post","link":"https:\/\/dmkthinks.org\/blog\/what-i-learned-starting-and-failing-with-a-new-business-idea\/","title":{"rendered":"What I learned starting (and failing) with a new business idea"},"content":{"rendered":"\n<p>Whenever I think of a new business idea, it starts as a math equation:<\/p>\n\n\n\n<p><em>Hot industry + people willing to pay = business<\/em><\/p>\n\n\n\n<p>This isn&#8217;t the only pathway to a successful business, but it&#8217;s one of the cheat codes that I&#8217;ve used to grow <a href=\"https:\/\/appsumo.com\/collections\/appsumo-originals\/\" target=\"_blank\" rel=\"noreferrer noopener\">our AppSumo Originals products<\/a> from zero to 1M+ users (including three products that have generated over $1M in revenue each).<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"808\" src=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-financechart-1024x808.png\" alt=\"Chart showing our product growth over time\" class=\"wp-image-2203\" srcset=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-financechart-1024x808.png 1024w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-financechart-500x395.png 500w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-financechart-768x606.png 768w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-financechart-640x505.png 640w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-financechart.png 1182w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>If there&#8217;s a crowded market with a lot of noise, most people see think the signal is to avoid.<\/strong><\/p>\n\n\n\n<p><strong>But I think the opposite.<\/strong><\/p>\n\n\n\n<p>Our most popular product ever, <a href=\"https:\/\/tidycal.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">TidyCal<\/a>, came from a realization that a <em>lot<\/em> of people use calendar tools. And I believed if I could find an angle and get a small percentage of people switch from Calendly and other calendar tools, it could grow into a successful business.<\/p>\n\n\n\n<p>And it worked.<\/p>\n\n\n\n<p>Four years later, with 300K+ users and 5.2M+ events booked and millions in revenue generated, it&#8217;s our most successful product ever.<\/p>\n\n\n\n<p><strong>Earlier this year, I took that same mindset into another crowded industry: The job market.<\/strong><\/p>\n\n\n\n<p>I noticed a lot of people were looking for jobs. I&#8217;ve been through long job searches before, and I know how stressful it can be. I wanted to see if I could help people find a job, and eventually turn that into a business.<\/p>\n\n\n\n<p><strong>Here&#8217;s the story of how I tried, and failed, to launch ReferCareers.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"665\" src=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-1024x665.png\" alt=\"The ReferCarers homepage\" class=\"wp-image-2196\" srcset=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-1024x665.png 1024w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-500x325.png 500w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-768x499.png 768w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-1536x997.png 1536w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-2048x1330.png 2048w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-640x416.png 640w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">Step #1 &#8211; Define the differentiator, and launch the MVP<\/h2>\n\n\n\n<p>There are a lot of people looking for jobs, and there&#8217;s a lot of advice out there on how to find a job.<\/p>\n\n\n\n<p>But I noticed that most of the job search tips and advice were to work harder, not smarter. Send applications non-stop, grind all day, and hope that it eventually works.<\/p>\n\n\n\n<p>With so many people wanting jobs, I thought there could be a better way.<\/p>\n\n\n\n<p><strong>When thinking about a crowded market, a core question is, &#8220;What&#8217;s my differentiator?&#8221;<\/strong><\/p>\n\n\n\n<p>In other words, why would someone use your product or service over what they already have?<\/p>\n\n\n\n<p>Why not keep doing what they&#8217;re doing?<\/p>\n\n\n\n<p>Why would they switch?<\/p>\n\n\n\n<p><strong>The benefits to switch need to be compelling.<\/strong> Most entrepreneurs forget this, and assume their solution is so magical that everyone will want to just move over. Wrong.<\/p>\n\n\n\n<p><strong>Most people would rather stay with the solution they have, even if it&#8217;s not perfect.<\/strong> So a new solution or product has to offer enough benefits to convince people to move over and break through the inertia.<\/p>\n\n\n\n<p>For job searching over the years, I&#8217;ve used a different approach than conventional wisdom to land multiple dream jobs: Networking and referrals.<\/p>\n\n\n\n<p>This approach originally started with Ramit Sethi. His advice on finding a job (including his course &#8220;<a href=\"http:\/\/iwillteachyoutoberich.com\/find-your-dream-job-today\/\" target=\"_blank\" rel=\"noreferrer noopener\">Find Your Dream Job<\/a>&#8220;) was foundational in helping me approach job searching different. Since then, I&#8217;ve really enjoyed job search advice by by <a href=\"https:\/\/kareemabukhadra.substack.com\/\">Kareem<\/a> (of Relentless), Ben (<a href=\"https:\/\/nextplayso.substack.com\/\">next play newsletter<\/a>), <a href=\"https:\/\/www.linkedin.com\/in\/alexrechevskiy\/\">Alex Rechevskiy<\/a>, and my friend <a href=\"https:\/\/www.linkedin.com\/in\/christopherming\/\" target=\"_blank\" rel=\"noreferrer noopener\">Chris Ming<\/a>.<\/p>\n\n\n\n<p>Everyone <em>knows<\/em> they should network and get referrals to increase their odds of a job, but instead they just click &#8220;Easy Apply&#8221; on LinkedIn and hope for the best. Eventually they get frustrated and settle, give up, or complain about how the job market is broken.<\/p>\n\n\n\n<p><strong>The opportunity to help people in their job search is from referrals and networking.<\/strong> This was was my differentiator.<\/p>\n\n\n\n<p>To make sure it wasn&#8217;t just a &#8220;me&#8221; success that is not grounded in reality, I did some cursory research using ChatGPT and Claude. And there was data to support, showing that people in tech who got referrals found a job 11% faster and increased their odds of finding a job by 4x.<\/p>\n\n\n\n<p><strong>Thinking ahead to how this idea could turn into a business, I saw three potential paths for revenue.<\/strong> If I could get people using the platform, I could try a few different monetization strategies to see what hit:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Take a percentage of the referral revenue that a person gets from a successful hire<\/li>\n\n\n\n<li>Charge people to promote their listings if they really wanted to share a job<\/li>\n\n\n\n<li>Charge a low monthly fee for the job seekers to get access to listings<\/li>\n<\/ul>\n\n\n\n<p>This is where most entrepreneurs stop, and it&#8217;s a mistake. They just assume that they can have an idea and a few ways to make money, and then, boom, build the product and get the money.<\/p>\n\n\n\n<p>But there are a <em>lot<\/em> of missing steps in that.<\/p>\n\n\n\n<p><strong>When you define the initial idea and potential monetization on a business, the next step is time to break down the approach into shorter timeframe goals. <\/strong><\/p>\n\n\n\n<p>You can use a methodology like the SMART framework, OKRs and rocks, or something else. Whatever you choose, <strong>define markers of success to stay focused on what matters.<\/strong><\/p>\n\n\n\n<p>Below are the milestones that I picked that were exciting to me and were indications that I could see being on the right path to eventually a successful full-time business:<\/p>\n\n\n\n<p><span style=\"text-decoration: underline;\">2025 Goals<\/span><br>Month 1 &#8211; Goal #1 &#8211; Get $5,250 from AppSumo referrals (AppSumo had a few open job listings that could promote myself to use my own product)<br>Month 2 &#8211; Goal #2 &#8211; Get 5+ other companies to list<br>Month 3 &#8211; Goal #3 &#8211; $1,000 in income per team member per month (I was starting this business with my friends <a href=\"https:\/\/www.linkedin.com\/in\/ggrimm\/\" target=\"_blank\" rel=\"noreferrer noopener\">Garrett<\/a> and <a href=\"https:\/\/www.linkedin.com\/in\/henrique-ibaldo\/\" target=\"_blank\" rel=\"noreferrer noopener\">Henrique<\/a>)<br>Q2 &#8211; Goal #4 &#8211; $2,500 per team member per month<br>Q3 &#8211; Goal #5 &#8211; $5,000 per team member per month<br>Q4 &#8211; Goal #6 &#8211; $10,000 per team member per month<\/p>\n\n\n\n<p>And once I started laying out the vision for the year, I had ideas on how we could automate if I was getting overwhelmed by the success (the best problem to have, and one I hoped I would):<\/p>\n\n\n\n<p><span style=\"text-decoration: underline;\">Ideal automated flow:<\/span><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>We find companies that pay referral bonuses<\/li>\n\n\n\n<li>We outreach team members at respective companies to be referrers (till we get 2-3 confirms)<\/li>\n\n\n\n<li>We scrape and list key (i.e. broad-relevance) remote jobs from relevant companies<\/li>\n\n\n\n<li>We monitor for applications to the jobs, and do light preliminary requirements matching ?<\/li>\n\n\n\n<li>If applicant passes, thumbs-up candidate\/ask referrer if interested; if applicant fails, decline ?<\/li>\n\n\n\n<li>If referrer givesl approval, make the intro between both parties ?<\/li>\n\n\n\n<li>Regular checks on the job listing to see if it\u2019s still active (and remove if not)<\/li>\n<\/ol>\n\n\n\n<p><strong>Once I had the milestones established, I put together a loose idea of the website MVP<\/strong>.<\/p>\n\n\n\n<p>The focus was to put together the simplest solution that would push towards the goals using the 80\/20 (Pareto) principle.<\/p>\n\n\n\n<p>This MVP website flow was done using the simple draw function in a Google Doc. It doesn&#8217;t need to be overly complex. Focusing on the core functionality, knowing that I can always iterate over time, is the way to avoid wasting time.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"689\" src=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-processflow-1024x689.png\" alt=\"Flow for ReferCareers\" class=\"wp-image-2199\" srcset=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-processflow-1024x689.png 1024w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-processflow-500x336.png 500w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-processflow-768x517.png 768w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-processflow-1536x1034.png 1536w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-processflow-640x431.png 640w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-processflow.png 1700w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p> (This idea was launched in February 2025, before Lovable\/Replit\/Claude Code became so good. If I were to do this now, I would take these simple flow requirements and vibe code a prototype.)<\/p>\n\n\n\n<p>To further detail out the idea, <strong>I also wrote a very simple PRD (product requirement document) to fill in the gaps on the<\/strong> <strong>end-to-end approach<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>POC\/MVP:\n<ul class=\"wp-block-list\">\n<li>Simple landing page (with no navigation)<\/li>\n\n\n\n<li>5 companies with targeted job listings\n<ul class=\"wp-block-list\">\n<li>AppSumo\n<ul class=\"wp-block-list\">\n<li>BDM x3 ($1500 each)<\/li>\n\n\n\n<li>BDA x1 ($750 each)<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Potential companies:\n<ul class=\"wp-block-list\">\n<li>Procore (Janine &#8211; messaged)<\/li>\n\n\n\n<li>Aerospike (Travis &#8211; messaged)<\/li>\n\n\n\n<li>Google (Jim)<\/li>\n\n\n\n<li>Salesforce (Jack)<\/li>\n\n\n\n<li>EA (Tim)<\/li>\n\n\n\n<li>ZoomInfo<\/li>\n\n\n\n<li>HubSpot (Scott\/David Ly Kim\/Alex)<\/li>\n\n\n\n<li>DocuSign<\/li>\n\n\n\n<li>Coinbase<\/li>\n\n\n\n<li>Akamai<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Ideal: Scrape\/pull ALL remote jobs from companies that offer universal referral bonuses (Google, Procore, Salesforce)<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Job seekers check job listings, CTA is to get a referral into job<\/li>\n\n\n\n<li>Job seekers fill out form, and form is sent to David\n<ul class=\"wp-block-list\">\n<li>Name + email address<\/li>\n\n\n\n<li>LinkedIn URL<\/li>\n\n\n\n<li>Why you want the role<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>David then spot checks form and forwards to referrers\n<ul class=\"wp-block-list\">\n<li>\u201cHey we have these 15 people who are interested, do you want to refer any?\u201d (and we make intro)<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Outreach to job referrers:\n<ul class=\"wp-block-list\">\n<li>\u201cHey NAME &#8211; I have a friend who might be interested in a job at COMPANY\u2026 do you get referral bonuses? Figure you might as well get paid for the referral if he decides to apply\/is hired\u201d<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Marketing:\n<ul class=\"wp-block-list\">\n<li>David &#8211; Job seekers email list<\/li>\n\n\n\n<li>David &#8211; LinkedIn post<\/li>\n\n\n\n<li>David &#8211; Share with J.T.\/friends I know looking for jobs<\/li>\n\n\n\n<li>Garrett (?) &#8211; Find a way (AI) to scrape layoffs.fyi or people looking for job<\/li>\n\n\n\n<li>Garrett (?) &#8211; Find a way (AI) to find and scrape companies that have referrals<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Future:\n<ul class=\"wp-block-list\">\n<li>Homepage clarification &#8211; \u201c5 step vetting process\u201d for social proof\/safety<\/li>\n\n\n\n<li>AI checks job listing and cross references LinkedIn\/short details and gives a grade to referrers for most likely to land job (Potentially use AI Agent)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>A lot of product people think PRDs need to be this massive multi-page documents, but PRDs can be really simple.<\/strong> Even the PRD I created for TidyCal, a product that has grown to millions of dollars in revenue, was a bulleted list of 13 features.<\/p>\n\n\n\n<p><strong>In the same Google Doc, I added website copy with a few variations of the headline and then very simple explanation copy:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"587\" src=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-websitecopy-1024x587.png\" alt=\"Website copy for ReferCareers\" class=\"wp-image-2198\" srcset=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-websitecopy-1024x587.png 1024w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-websitecopy-500x287.png 500w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-websitecopy-768x440.png 768w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-websitecopy-1536x881.png 1536w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-websitecopy-2048x1174.png 2048w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-websitecopy-640x367.png 640w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The goal wasn&#8217;t to create perfect copy. It was to create benefit-driven, simple copy that got the point across 80% good enough.<\/p>\n\n\n\n<p>If an idea ultimately shows signal, it&#8217;s easy to revise and double-down on what&#8217;s working. <strong>Don&#8217;t waste time trying to perfect something before you prove that people use it.<\/strong><\/p>\n\n\n\n<p>Even the best products I&#8217;ve ever created go through constant revisions as the product matures, so you&#8217;ll be revising it anyway.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Step #2 &#8211; Get the first companies listed<\/h2>\n\n\n\n<p>Before I could get job searchers using the website, I had to first get jobs listed on the website.<\/p>\n\n\n\n<p><strong>My preference with launching any new product or business is to be a day one user myself.<\/strong><\/p>\n\n\n\n<p>When I&#8217;m a customer myself, it makes it easier to understand the nuances and make a better experience overall. This is referred to as &#8220;dogfooding&#8221; in the tech industry, <a href=\"https:\/\/www.businessinsider.com\/mark-zuckerberg-metaverse-app-horizons-quality-problem-report-2022-10\" target=\"_blank\" rel=\"noreferrer noopener\">and it&#8217;s an approach that Zuckerberg has has talked about extensively for his team at Meta\/Facebook<\/a>.<\/p>\n\n\n\n<p>With dogfooding, we had some roles listed at AppSumo that offered referral bonuses. I listed those on ReferCareers to immediately have job opportunities for job seekers.<\/p>\n\n\n\n<p><strong>But because we only had a few jobs for a singular company, this could also send a red herring signal if people weren&#8217;t using.<\/strong> Were they not using because they didn&#8217;t find the website\/idea compelling? Or because they didn&#8217;t care for the roles or for AppSumo as a business?<\/p>\n\n\n\n<p>To test this theory, I wanted to get a few more companies on the site.<\/p>\n\n\n\n<p><strong>Here&#8217;s how I found additional MVP companies:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>I searched online for tech companies that offered referral bonuses. After a bit of searching, I found a list of the top 20 companies that have the highest percentage of referred employees.<\/li>\n\n\n\n<li>I checked my LinkedIn network to see who I knew that worked at those companies.<\/li>\n\n\n\n<li>I sent an outreach message to people that I knew at these companies first. If I didn&#8217;t know anyone at the company, I sent a cold outreach LinkedIn message using slightly modified copy.<\/li>\n\n\n\n<li>I asked some of my friends directly if the companies they worked for had referral bonuses.<\/li>\n<\/ol>\n\n\n\n<p>Here&#8217;s an example of a message I sent to a connection I had at HubSpot:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"863\" src=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-referralmessage-1024x863.png\" alt=\"Referral message sent to a friend at HubSpot\" class=\"wp-image-2202\" srcset=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-referralmessage-1024x863.png 1024w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-referralmessage-500x422.png 500w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-referralmessage-768x647.png 768w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-referralmessage-640x540.png 640w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-referralmessage.png 1274w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>When writing copy, it&#8217;s easy to be myopic and focus on yourself. Instead, think about &#8220;what&#8217;s in it for them?&#8221;<\/strong> In this case, why would my HubSpot connection care?<\/p>\n\n\n\n<p><strong>Most business pitches can be broken down into three main hooks: Make more money, save money, or save time.<\/strong> I went with the &#8220;make more money&#8221; approach for my HubSpot connection.<\/p>\n\n\n\n<p>Once I had 5 companies and 3 roles each, that was enough for me to feel like I could have broad-stroke understanding if ReferCareers had the first signs of promise. I also made sure that the jobs listed on the site were a variety of different types of roles and seniority levels.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Step #3 &#8211; Get the first job seekers to try the platform<\/h2>\n\n\n\n<p>With a list of 15 roles from 5 companies, <strong>the next step was seeing if job seekers were interested in using the website.<\/strong><\/p>\n\n\n\n<p><strong>To first promote the idea, I went to LinkedIn.<\/strong> I&#8217;ve spent the past year building up my LinkedIn presence (posting 1x per week). Here&#8217;s the post I wrote to my ~3,000 followers:<\/p>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/www.linkedin.com\/embed\/feed\/update\/urn:li:share:7291851918090321920\" height=\"978\" width=\"504\" frameborder=\"0\" allowfullscreen=\"\" title=\"Embedded post\"><\/iframe>\n\n\n\n<p><strong>After LinkedIn, I moved to email.<\/strong><\/p>\n\n\n\n<p>During the pandemic hiring boom, I had a lot of friends asking for recommendations on people to hire. I built an email list, using <a href=\"https:\/\/sendfox.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">SendFox<\/a> and LinkedIn, to 80 job seekers.<\/p>\n\n\n\n<p>Dusting off the list for the first time in a couple years, I sent my first email promoting all the different roles that I put up on the site. I focused on a compelling, benefit-driven (a very high salary) to get people to click into the roles. But I didn&#8217;t obsess over making the copy perfect:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1018\" src=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-emails-1024x1018.png\" alt=\"An email I sent promoting the job offer\" class=\"wp-image-2197\" srcset=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-emails-1024x1018.png 1024w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-emails-500x497.png 500w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-emails-150x150.png 150w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-emails-768x763.png 768w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-emails-1536x1526.png 1536w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-emails-640x636.png 640w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-emails-120x120.png 120w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-emails.png 1934w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Getting &#8220;good&#8221; out faster is better than &#8220;perfect&#8221; that never actually releases<\/strong>. And that was my focus on getting &#8220;good enough&#8221; copy out there.<\/p>\n\n\n\n<p>Every few days, I&#8217;d double-check the job listings to make sure they were still active. If not, I would take them down from ReferCareers and put up new job listings. I would try a lot of different roles, experience levels, and a mix of manager and IC positions.<\/p>\n\n\n\n<p>As a big believer in email marketing (it&#8217;s one of the few growth\/marketing channels that offers more control), I had us add an email opt-in box to the bottom of the website to capture any visitors who were interested in staying up-to-date on roles. This would be another signal of potential.<\/p>\n\n\n\n<p>This resulted in a flywheel: Post on on LinkedIn ? people come to the website ? even if they didn&#8217;t apply, add them to an email list ? send emails to my old job seekers list and this new list promoting jobs ? Hopefully get high-quality applicants<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Step #4 &#8211; The results, and using failure as a lesson<\/h2>\n\n\n\n<p>At AppSumo Originals, 33% of my products (3 out of 9) have generated over $1M in revenue.<\/p>\n\n\n\n<p>On one hand, this is amazing: The industry average is 4%, so the success rate is significantly higher.<\/p>\n\n\n\n<p>On the other hand, 67% of the time we fail. This is a big percentage!<\/p>\n\n\n\n<p><strong>The high chance of failure for even the most successful companies is one of the reasons why I&#8217;m a big believer in fast MVPs, fast iteration, and focusing on launching quickly<\/strong>.<\/p>\n\n\n\n<p>When you identify the opportunity, identify the MVP scope, and launch fast, you learn quickly if there&#8217;s traction or signal worth continuing, or if it&#8217;s a &#8220;failed&#8221; v1 and you need to iterate or move on.<\/p>\n\n\n\n<p><strong>There could be a lot of reasons for failure<\/strong>, and I&#8217;ve experienced them all with our products.<\/p>\n\n\n\n<p>I often talk about our successes of TidyCal, BreezeDoc, SendFox, and KingSumo. But you don&#8217;t hear me talk as much about the &#8220;failures&#8221; of EmailBadge, SleekBio, AppSumo Connect, and more.<\/p>\n\n\n\n<p>Some of the reasons for failing could be:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Wrong timing. Sometimes the product idea is good, but the market need isn&#8217;t there yet.<\/li>\n\n\n\n<li>Other focuses better worth the time. One of my favorite sayings in business and for startups is &#8220;no solutions, only trade-offs&#8221;. Some of our products I believe I could have made successful with more time. But this would have meant taking away resources from products that <em>were<\/em> succeeding already, and slowing down their growth. And that just wasn&#8217;t a worthwhile trade-off.<\/li>\n\n\n\n<li>We realized we just didn&#8217;t have strong interest in the product. Adversity is a great signal to measure if we really care about something. If we&#8217;re passionate, persistence is easier. Some of our products we realized we weren&#8217;t dogfooding ourselves and didn&#8217;t care about.<\/li>\n<\/ul>\n\n\n\n<p><strong>Because of our &#8220;move fast&#8221; mentality, the silver lining is each of those failures took minimal time.<\/strong> 30-day launch, light continued efforts to see if we could find traction, and the realization that it wasn&#8217;t worth our time.<\/p>\n\n\n\n<p>As weird as it may sound, all of these are great. They help free up time, energy, resources, mental bandwidth to move on to bigger and better projects.<\/p>\n\n\n\n<p>And this is what happened with ReferCareers.<\/p>\n\n\n\n<p><strong>As I worked on the site over a couple months, I had three core realizations:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>In a hiring market this tight, the noise was extreme. A lot of people who found our website were low-quality leads from places like Nigeria who were ineligible or radically under-qualified for high-paying U.S. tech jobs.<\/li>\n\n\n\n<li>None of the candidates we referred across 50+ roles were hired. This was a giant red flag. It was looking like we would need to substantially up the candidate volume or quality, both which take effort and are hard to solve quickly.<\/li>\n\n\n\n<li>And, most importantly, I realized I didn&#8217;t care about this idea that much. My attention was better spent at AppSumo Originals (and, eventually on AI, which I&#8217;ve become obsessed learning and experimenting). I just wasn&#8217;t as passionate about building a job referral website.<\/li>\n<\/ol>\n\n\n\n<p>Despite these challenges, there were some nice signs along the way. One candidate sent a Starbucks gift card to me for helping introduce him to a person at HubSpot:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"625\" src=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-starbucks-1024x625.png\" alt=\"A nice gesture from a user of our platform\" class=\"wp-image-2204\" srcset=\"https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-starbucks-1024x625.png 1024w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-starbucks-500x305.png 500w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-starbucks-768x469.png 768w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-starbucks-1536x938.png 1536w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-starbucks-2048x1251.png 2048w, https:\/\/dmkthinks.org\/blog\/wp-content\/uploads\/2025\/12\/dmkthinks-blog-refercareers-starbucks-640x391.png 640w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>When I think about business in general, I often think of it like a coin flip. You can&#8217;t guarantee an outcome, but the more you flip a coin, the higher you can increase your outcome odds.<\/strong><\/p>\n\n\n\n<p>When you launch fast using a clear scope, clear differentiation, and clear idea<\/p>\n\n\n\n<p>Often, I think about a cautionary tale of a client I helped this year with a business.<\/p>\n\n\n\n<p>This person wanted their new app website to be perfect and didn&#8217;t know how to prioritize. They had an approach in mind they didn&#8217;t want to change, and it took about three months to build.<\/p>\n\n\n\n<p>At the end of three months, they still didn&#8217;t feel good about the website. They wanted a lot more changes. But they had already spent $10,000+ and didn&#8217;t have a single client, so they put it on an indefinite pause. This was a costly mistake.<\/p>\n\n\n\n<p><strong>We all fail, but we can accelerate how quickly we learn from our failures<\/strong> and how many times we can flip the coin.<\/p>\n\n\n\n<p>Don&#8217;t spend months trying to flip just one coin. Start flipping now.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whenever I think of a new business idea, it starts as a math equation: Hot industry + people willing to pay = business This isn&#8217;t the only pathway to a successful business, but it&#8217;s one of the cheat codes that I&#8217;ve used to grow our AppSumo Originals products from zero to 1M+ users (including three [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2195","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/dmkthinks.org\/blog\/wp-json\/wp\/v2\/posts\/2195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmkthinks.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmkthinks.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmkthinks.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmkthinks.org\/blog\/wp-json\/wp\/v2\/comments?post=2195"}],"version-history":[{"count":5,"href":"https:\/\/dmkthinks.org\/blog\/wp-json\/wp\/v2\/posts\/2195\/revisions"}],"predecessor-version":[{"id":2207,"href":"https:\/\/dmkthinks.org\/blog\/wp-json\/wp\/v2\/posts\/2195\/revisions\/2207"}],"wp:attachment":[{"href":"https:\/\/dmkthinks.org\/blog\/wp-json\/wp\/v2\/media?parent=2195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmkthinks.org\/blog\/wp-json\/wp\/v2\/categories?post=2195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmkthinks.org\/blog\/wp-json\/wp\/v2\/tags?post=2195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}