Tim Ferriss

Noah Kagan — How to Launch a Million-Dollar Business This Weekend (#717)

Artist's rendering of Noah Kagan.
Illustration via 99designs

Noah Kagan (@noahkagan) was #30 at Facebook, #4 at Mint, and has since created seven million-dollar businesses (Kickflip/Gambit, AppSumoKingSumoSendFox, Sumo, TidyCal, and Monthly1k).

He is the CEO of AppSumo.com, the #1 software-deals site for entrepreneurs, and has a popular YouTube channel, Noah Kagan

His new book is Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours.

Please enjoy!

[UPDATE: Noah selected 3 finalists for the #48hourchallenge, and he selected the winner. Noah will also have a Zoom call with the other two finalists. Updated February 12th, 2024.]


Listen to the episode on Apple PodcastsSpotifyOvercastPodcast AddictPocket CastsCastboxGoogle PodcastsAmazon Musicor on your favorite podcast platform. Watch the interview on YouTube here.

Brought to you by LinkedIn Jobs recruitment platform with 1B+ users; Eight Sleep’s Pod Cover sleeping solution for dynamic cooling and heating; and Shopify global commerce platform, providing tools to start, grow, market, and manage a retail business.

The transcript of this episode can be found here. Transcripts of all episodes can be found here.

#717: Noah Kagan — How to Launch a Million-Dollar Business This Weekend

This episode is brought to you by ShopifyShopify is one of my favorite platforms and one of my favorite companies. Shopify is designed for anyone to sell anywhere, giving entrepreneurs the resources once reserved for big business. In no time flat, you can have a great-looking online store that brings your ideas to life, and you can have the tools to manage your day-to-day and drive sales. Go to Shopify.com/Tim to sign up for a one-dollar-per-month trial period. It’s a great deal for a great service, so I encourage you to check it out. Take your business to the next level today by visiting Shopify.com/Tim.


This episode is brought to you by Eight Sleep. Temperature is one of the main causes of poor sleep, and heat is my personal nemesis. But a few years ago, I started using the Pod Cover, and it has transformed my sleep. Eight Sleep has launched their newest generation of the Pod: Pod 5. It cools, it heats, and now it elevates, automatically. With the best temperature performance to date, the Pod 5 ensures you and your partner stay cool in the heat and cozy warm in the cold. And now, listeners of The Tim Ferriss Show can get $250 off the Pod 5 plus an additional $200 off Pod 5 accessories for a limited time! Click here to claim this deal and unlock your full potential through optimal sleep.


This episode is brought to you by LinkedIn Jobs. Whether you are looking to hire now for a critical role or thinking about needs that you may have in the future, LinkedIn Jobs can help. Using LinkedIn’s active community of more than 1 billion professionals worldwide, LinkedIn Jobs can help you find and hire the right person faster. When your business is ready to make that next hire, find the right person with LinkedIn Jobs. And now, you can post a job for free. Just visit LinkedIn.com/Tim.


What was your favorite quote or lesson from this episode? Please let me know in the comments.

Want to hear the last time Noah Kagan was on the show? Listen to our conversation here in which we discussed favorite tools, fitness routines, important but undervalued education, business rules, bedding recommendations, the coffee challenge, writing style game changers, and much more.

#75: How Facebook's #30 Employee Quickly Built 4 Businesses and Gained 40 Pounds with Weight Training

SELECTED LINKS FROM THE EPISODE

Special thanks to Cindy Manit (@cindymanit, @CindyManit, holisticsocialads.com) for permission to include her video in this podcast.

  • Connect with Noah Kagan:

Official Website | Twitter | Instagram | YouTube | Facebook

SHOW NOTES

  • [03:55] Noah and some of his notable successes.
  • [07:00] Is Barcelona the new Austin?
  • [13:43] Navigating the legal hurdles to living/working in another country.
  • [17:44] Running an $80 million business.
  • [20:41] Noah’s negotiating basics.
  • [24:33] The chargeback maneuver.
  • [27:02] WIIFT (What’s In It For Them?)
  • [29:54] A recap of the coffee challenge.
  • [31:31] “Life punishes the vague wish and rewards the specific ask.”
  • [34:12] Other comfort challenges Noah recommends.
  • [39:12] Feedback is a gift.
  • [42:26] When comfort challenges aren’t appropriate.
  • [45:33] LOT (Listen, Options, Transition).
  • [46:59] Tracking metrics that matter.
  • [52:17] T3 B3 (Top Three, Bottom Three).
  • [59:46] Weekly reviews.
  • [1:02:42] The value of unambitious goals.
  • [1:06:51] Regrets of billionaires.
  • [1:13:32] My approach to book launches: then and now.
  • [1:26:50] Priorities: then and now.
  • [1:43:19] Finding a sustainable purpose.
  • [1:49:42] Do I still find my past work useful today?
  • [1:52:44] Testing the waters with new hires.
  • [1:55:22] Don’t forget to look in the rear-view mirror sometimes.
  • [1:56:23] Why should you trust Noah’s advice in Million Dollar Weekend?
  • [1:59:47] Now, not how.
  • [2:03:18] What’s your freedom number?
  • [2:03:59] Getting your ask in gear.
  • [2:05:09] Counterintuitively, constraints catalyze creativity.
  • [2:08:17] Turning annoyance into opportunity.
  • [2:11:21] Determining if your intended market has value.
  • [2:14:12] Most profitable, elegant businesses are simple at their core.
  • [2:14:57] Entrepreneurs rise from the ashes of fired employees.
  • [2:17:14] Why you should start a podcast or business.
  • [2:18:18] “No solutions, only trade-offs.”
  • [2:19:01] Putting the idea to the test.
  • [2:22:52] Are you making this harder than it needs to be?
  • [2:24:09] The Dream 10 as a test for market viability — and your commitment.
  • [2:27:07] Rejection as teacher.
  • [2:27:58] Deliver on promises before worrying about scaling up.
  • [2:32:01] The three Ws: what, who, and where?
  • [2:33:04] The AppSumo origin story.
  • [2:36:24] Early high-touch community building and scaling considerations.
  • [2:38:29] The BrainQUICKENing.
  • [2:42:43] Finding underserved opportunities.
  • [2:44:48] Initiate correspondence with humility.
  • [2:48:12] Little ask, big ask.
  • [2:48:56] How do I handle rejection?
  • [2:51:18] Revisiting the Law of Category.
  • [2:56:16] How Noah handled a recent rejection.
  • [2:57:28] Dating circa now and learning optimism.
  • [2:59:18] How Pat seized opportunity in Poland.
  • [3:00:36] Free work?
  • [3:04:35] Behind the scenes of my Opening the Kimono event.
  • [3:12:02] Making sponsorship deals win/win.
  • [3:15:47] Streamlining business idea validation.
  • [3:19:42] Unorthodox simplicity.
  • [3:22:02] Better to be chased for money than chasing it.
  • [3:23:45] Best holiday purchases for under $50.
  • [3:31:28] Is competing for attention on YouTube worth my time and sanity?
  • [3:39:55] Low-effort, high-reward YouTube experiments.
  • [3:45:21] Lessons learned from spending more than a million dollars on coaching.
  • [3:53:01] Benefits of the board.
  • [3:53:35] How to take on the 48-hour challenge.
  • [3:56:00] What’s the DEAL with Cindy, 10 years after meeting Noah and me?*
  • [4:00:34] Parting thoughts.

*Special thanks to Cindy Manit (@cindymanit, @CindyManit, holisticsocialads.com) for permission to include her video in this podcast.

MORE NOAH KAGAN QUOTES FROM THE INTERVIEW

“That’s why I left SF — I wanted to live. I’m not here just to work all day, and that’s why I’m in Barcelona. I want to have a good balance of enjoying life and making money the way I want.”
— Noah Kagan

“Get off the emotion and get to the solution.”
— Noah Kagan

“You say your ask or your number and you shut up. That’s it. … That is the power move.”
— Noah Kagan

“That’s all this whole life is, is asking people things. And if you ask, guess what? You can get.”
— Noah Kagan

“One of the misconceptions in sales is that we’re harassing or bothering people, when maybe it’s actually a good thing and people need to maybe reconsider their perception of what a sale is.”
— Noah Kagan

“Over time, I’ve realized that challenging respectfully is very healthy.”
— Noah Kagan

“I think people confuse inaction with patience.”
— Noah Kagan

“Don’t trust any business author, I would say, that’s gotten rich from their book or their course.”
— Noah Kagan

“Getting rejected is an opportunity to learn.”
— Noah Kagan

“In sales, I do this all the time. I’ll just say, ‘I just want to learn.’ That’s my first phrase. Second phrase is, ‘You didn’t want this? Just tell me why not. I want to learn.’ People will reply and they’ll tell you.”
— Noah Kagan

“Business, really, it’s three Ws. It’s what’s a problem you’re solving that people care about, who are those people, and where are they?”
— Noah Kagan

PEOPLE MENTIONED

Subscribe
Notify of
guest

Comment Rules: Remember what Fonzie was like? Cool. That's how we're gonna be — cool. Critical is fine, but if you're rude, we'll delete your stuff. Please do not put your URL in the comment text and please use your PERSONAL name or initials and not your business name, as the latter comes off like spam. Have fun and thanks for adding to the conversation! (Thanks to Brian Oberkirch for the inspiration.)

214 Comments
Oldest
Newest Most Voted