Entrepreneurs Rewrite Rules

Successful entrepreneurs often succeed by breaking conventional industry rules and creating new business models. This insight comes from discussing how entrepreneurs like Nikita Bier and Brad Jacobs achieved success by rethinking traditional approaches in their respective industries.

Key Points:

• Breaking Traditional Models

  • Most successful people don't follow established patterns
  • They question fundamental assumptions about how things "should" work
  • Example: Nikita Bier's approach to social apps:
    • Broke Silicon Valley's traditional social app monetization model
    • Combined consumer social app with mobile game monetization
    • Generated millions in profit within months instead of years

• Rethinking Revenue Models

  • Don't need to follow industry standard revenue models
  • Can combine business models from different industries
  • Example: Instead of typical VC-funded social app approach:
    • Charged users directly instead of relying on ads
    • Focused on quick profitability over user growth
    • Made $7-8M in gross revenue within 6 months

• Pattern Recognition

  • Look for opportunities to combine successful elements from different industries
  • Question why things are done certain ways
  • Find areas where conventional wisdom might be wrong

• Execution Strategy

  • Be willing to experiment with different approaches
  • Don't be afraid to break from industry norms
  • Focus on results rather than following established playbooks
  • Be prepared to face criticism for doing things differently

• Success Indicators

  • Breaking rules can lead to outsized returns
  • Look for opportunities where everyone else is following the same playbook
  • Success often comes from seeing opportunities others miss due to conventional thinking