10x Objective Key Metrics
Today, I read the shownotes of an interview with Stripe founders. There was many learning points and my key takeaway was
Oreo is part of company that sell cigarettes
Elon is invested in Stripe (after interview I tried to find out how to invest Stripe and found out)
Stripe is like the future Amazon. They are thinking in terms of API level first which reminds me of an internal core concept of Amazon is your product must be usable by other teams (probably via API)
There is still lots of growth potential or low hanging fruits for Stripe (though I am not sure where, probably countries)
Concept of Objective and Key Metrics was used by Google.
For #5, I heard of it before to zero in your business to one or two core metrics that is measurable. Nothing new but I didn't know it was so official and part of Google.
Besides that, I try to think of my income streams while showering (in particular on how to 10x and what will I change if it 10x)
Investing. This is really a surprise win recently with $SE 2x in less than a month. I meant I am convicted with my data that Shopee should easily double in Singapore and extrapolate it does the same in other Asian countries with lockdown. If it was worth $60 plus in Q1, I think it should be worth $120 in Q2 with the only questions on its sustainability. I did an options that expire next year so I guess it might slow after this virus incident.
Anyway, if investing get 10x, I will just consider it as lucky. I would instead focus on getting growth hacking skills to become a VC and growth hack any companies with my skills.
For my content sites. 10x is still worth little, just 300$ / month. I will just keep hiring more locals to get a diverse network which I missed out with a transactional relationship with my writer in Fiverr that I will end.
If it 10x again to $3,000, I could hire more passionate writer. Will keep getting more as I seem to slow and need writers who have ideas on what to write. Was thinking interns at first but given how well my job applications was (30+ people applied) I think it is easy to find hardworking people paid on work done. I might expand scope to do outreach to industry, paid ads to retain following, do social giveaway.
Amazon FBA. Negative to one first. Plan to spend some money here eventually but still thinking. Manufacturing is not my forte but I got advantage in knowing Mandarin and can work with China merchant better? I also like the idea of creating a better product based on user reviews. Problem in finding one bad product that people still buy to improve and ask a china maker. Wants to try in my local market first too as I got some control?
Merch. Zero to one first. Then, I saw a Ryan video using Chrome Extension to generate lots of images. I am thinking to do a web version using my programming skills. Just need to take an 4500x5400 image and let user choose a placeholder to put variable text and text list (e.g. best VAR, then become best accountant, best engineer).
As usual, too many ideas. One step at a time.