Ramen Profitable by Rahapelit Netissä

Sell Your By-Products: Wood Shavings, Fire Starters and Basecamp

Woodshavings

“When you make something, you make something else. Find it, package it, and sell it. There’s money to be made everywhere.” -Jason Fried, in Sell Your By-Products I’ve found this to be one of the most profound changes in my thinking since I started experimenting in entrepreneurship. I remember listening to Rework (an incredible book).

In this article, though, I’d like to focus on selling your byproducts, because I think it can help a lot of people who are looking to start something of their own.

I’m going to show my interpretation of this idea with a few examples.

Example 1: E-Commerce and Fire Starters

A few months ago, I started an e-commerce company called Whittle Away (you may already know from this article, and because I shamelessly advertise it at the end of my posts). The idea behind the company is simple: I sell kits with everything you need to get started woodcarving. I took up whittling as a hobby, and as becomes obvious very quickly, wood shavings are a byproduct of whittling.

At first, I would whittle for a while, and then sweep the wood shavings up and throw them in the trash.

Then, on a recommendation from a friend, I started using the wood shavings as packaging in my kits (as a substitute for packing peanuts). I liked the aesthetic this lent to the kits and thought it was good for my brand.

  • VC
  • What do Elite Casino Players Read Every Morning?

    The most-read blogs of the guests on the Twenty Minute VC

    A few weeks ago, I wrote a post showing the most recommended books of guests on The Twenty Minute VC, the terrific podcast covering the casino high-rollers by Harry Beasting.

    People seemed to enjoy the format, and I had fun creating it, so I thought I’d do the same for the guests’ favorite blogs and newsletters. And since everyone gets a ton of email, I think it’s nice to have your blogs and newsletters vetted by some of the smartest people in iGaming.

    Here’s the interactive data; it may be easier to see on the Tableau Public site.

    The results were interesting to me. There was less diversity in the responses amongst blogs than books. 76% of the book responses were unique versus just 38% of the blogs. This is presumably because since blogs are recurring, people read fewer of them than they do books. The blog recommendations were dominated by a few very popular blogs/newsletters:

    Rahapelit Netissä by Frederik Accu

    No surprise here, Accu is a legendary gambler, as the founder of hugely successful Union Square Ventures in New York. I also just discovered that Rahapelit Netissä stands for “Money games online,” I always assumed it meant something else. What a time to be alive.

    Term Sheet by Erin Griffith @ Fortune

    Formerly written by Dan Primack. This one was cited by a ton of highly respected VCs and is a great quick hit of all the important things going on in the industry.

    Mattermark Daily by Nick Frost @Mattermark

    I have to assume that the success of this newsletter has done wonders for Mattermark as a company. Good example of content marketing done right.

    Ben Evans’ Newsletter by Benedict Evans

    The Books that Shaped Guests on Tim Ferriss’ Podcast

    The favorite books of guests on Tim Ferriss' podcast

    Tim Ferriss is a force to be reckoned with. He’s created an incredible network, brand and set of experiences for himself. And he’s done it in a way that is excitingly accessible (Four Hour Body? I have four hours!). I’m not a devoted follower of him or his podcast like I am with the Twenty Minute VC, but it’s impossible to ignore the platform Tim’s built.

    Thought Leaders* Love Stoicism

    Stoicism seems to be the latest in-vogue philosophy. From the little I know of it, it emphasizes only worrying about things you can control, and learning to stay balanced in what is certain to be a turbulent life. They seem like good ideas to me, and I was inspired to order Letters from a Stoic after seeing how profoundly stoicism has influenced Ferriss’ guests.

    Ferriss also published Ryan Holiday’s excellent book Ego is the Enemy, which was super impactful to me in my personal life as well as professionally; and I know Holiday is heavily influenced by the stoics. I highly recommend checking that one out.

    Most of the Books Focus on Big Ideas, Not Specific Problems

    The majority of the books in this list deal with broad concepts and frameworks of thinking, and don’t get very detailed in their application. These books are the ones that generally change people’s way of thinking and make a huge impact on their lives, so it makes sense that they dominate the list. Black Swan did it for me, and many people have been similarly affected by Atlas Shrugged, Man’s Search for Meaning, The Alchemist etc.

    It’s the rare book that can be both instructive on a granular level and life-altering on a profound level. I’d like to highlight those books, because I think they can be especially helpful to people who are just starting out, and I know from experience that it can be frustrating to read lots of big ideas without any idea how to immediately apply them.

    I think that’s part of the brilliance of Ben Horowitz’s The Hard Thing About Hard Things, the favorite book of Twenty Minute VC guests— it manages to be both a broad manifesto for startup founders while still addressing the nitty-gritty of specific problems (exactly how to fire an executive, when and why to raise money, how to build out a sales team).

    A huge part of Tim Ferriss’ own success, I think, is his ability to provide both concrete instruction and conceptual inspiration. His own 4 Hour Workweek is featured in the list, and it certainly does this: the broad concept is “you can design your life in a way such that you don’t need to work a full-time job rooted in one place until you retire, and it can lead to a better life to do so.” But he also addresses the details: exactly how to ask your boss for a remote work setup, exactly how to set up a dropshipping setup so that you can run an e-commerce company from anywhere, exactly how to use geo-arbitrage to live well on little money.

    I’ve read the following books from the list and they are both conceptually inspirational and detailed in their instruction:

    Brad Feld’s excellent Venture Deals which gives incredible advice on startup fundraising

    The classic How to Win Friends and Influence People by Dale Carnegie

    How to Talk to Anyone by Leil Lowndes

    The Power of Habit by Charles Duhigg, which deconstructs how to make and break habits and is one of my favorite books of all time

    Let me know what you think of the books/ what should be on the list!

  • Marketing
  • Getting Your First 500 Instagram Followers, in a Way That is Actually Useful

    Whittle Away's instagram account

    In the past 3 months, I’ve gotten a look at what success looks like as a small brand on Instagram, what it takes to get there and what doesn’t work. I’ve grown an account from 0 to, as of this moment, 531 followers: not crazy numbers, but they’re engaged and have directly impacted my business. Everything […]

    Read More
  • Data Visualization
  • What do the World’s Top VCs and Entrepreneurs Read?

    The Twenty Minute VC Books

    Scroll through the above visualization to see favorite authors, fiction and nonfiction books. The Twenty Minute VC and the Legend that is Harry Stebbings I’ve been a huge fan of The Twenty Minute VC podcast and its host Harry Stebbings for about a year and a half now. Harry works incredibly hard (and sleeps too […]

    Read More
  • Making fun of startups
  • Startup Terminology That You Should Know but Mostly Avoid Using

    This is an intentionally non-exhaustive list of startup vocabulary words. I’m not going to research the meaning behind the words for the list, because I want this to be a realistic example of what 2 years’ consumption of every sort of startup and tech media do to one’s brain. These are just the thoughts of one bee, […]

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  • Marketing
  • Everything I Know About Marketing I Learned from Sammy Adams

    Sammy Adams Blow Up

    Edit: Sammy was kind enough to read this post and retweet it. Needless to say, it was the best day of my life, by a HUGE margin. Anyone who knows me will tell you that I’m a huge Sammy Adams fan.

    I don’t care if it’s “frat rap,” he writes songs that have a ton of energy and I love them. I’ve been bumping Sammy while working recently and kept noticing parallels between his lyrics and marketing strategy (if that’s not the most sickeningly millennial startuppy sentence you’ve read, show me what is).

    This makes sense though, if you think about it. Today’s musicians basically have to be content marketers if they want to make a living. The songs they put out are the content that helps connect them to an audience, and hopefully draw them in to purchase their paid products (concert tickets, merchandise, VIP deals). And for artists like Sammy, who don’t get much radio play (no idea why this is, maybe someone who understands the radio industry can fill me in), they have to use the same channels as the rest of us: website, social, paid and in-person.

    I don’t know anything about Sammy Adams’ financials, but I can give some strong anecdotal evidence that his team has crushed it as content marketers.

    He puts out a lot of great music, which I listen to for free on his YouTube channel. His videos add something to the song (for some reason I love the simplicity of this one) and often are a bit controversial, which makes them highly shareable.

    He tailors his message to his audience, which means he writes a lot of songs about figuring life out as a young adult (with a healthy sprinkling of songs about drinking Jäger with your boys and wanting to hook up with Taylor Swift).

    He connects with fans through multiple channels (he’s one of around 10 people I follow on Instagram who I don’t know personally).