In this episode, Steli and Hiten spend some time discussing the overused art of the “lazy hustle.” Steli talks in-detail about an annoying email he received from a lazy hustler, and Hiten shares why he never likes to use the word hustle. Listen to learn how Steli and Hiten differentiate between what it means to have hustle versus lazy hustle, and why it’s imperative to avoid being a “yes-man” or “yes-woman.”

Time Stamped Show Notes:

00:45 – Steli shares the background story of today’s topic

00:50 – Someone sent Steli an aggressive, strong email pitch

03:34 – “I can’t say Yes to everything”

03:59 – The email sender replied again asking Steli for advice

04:46 – The email sender was probably having second thoughts about his pitch

06:18 – Hiten shares why the email sender’s action is a lazy hustle

08:00 – The email sender is not a real hard-working person

08:54 – Hiten shares why he doesn’t use hustle

14:20 – When you haven’t done any real work to prove yourself and you’re trying to find shortcuts to success by leveraging what other people have is the definition is lazy hustle

15:40 – Steli sent Seth Godin a cold email to ask feedback for his first e-book

17:20 – Seth Godin’s reply to Steli

18:50 – Steli gives another example of a hustle and a lazy hustle

3 Key Points:

Asking bold questions or giving bold answers doesn’t equate to success—it takes a hell of a lot more than that.

[0:00:03]

Hiten Shah: Hi this is Hiten Shah.

[0:00:05]

Steli Efti: And this is Steli Efti and in today's episode of The Startup Chat I want to talk to you about the lazy hustle. Hiten, you have no idea what this topic is about. We didn't discuss this in too much detail, other than I told Hiten I have a rant and I think you're gonna enjoy and probably we're gonna come up with something useful and valuable to the listeners. Let me give you the background story here.

[0:00:30]

Hiten Shah: Okay.

[0:00:30]

Steli Efti: I recently got an email from somebody that was basically, he sent me a cold email, and he basically made a very aggressive, very hard pitch that, listen Steli, you don't know me, I'm a huge fan. I'm the absolute super ninja hustler. I've been hustling since I've been a baby. I'm incredible. I'm so hard working. I'm gonna make magic happen. I'm a diamond in the rough and I'm gonna become this super famous, super wealthy entrepreneur and you're getting a chance to get started with me kind of in the early stages when people don't even realize it. I want to co-found a company with you. Then he gave me his idea. Here's my idea, and it's an idea ... I don't know. It's in a market I know nothing about. It didn't sound or was ... it didn't sound very sophisticated at all ... that exciting to me. Maybe he didn't describe it that well. But it was totally random and it had nothing to do with anything I have ever done or know anything about. So he gives me this pitch, this spiel about the business idea that he has and...

In this episode, Steli and Hiten discuss the content of our personal network. People around us in our network have an effect on us—they can drain us or give us energy. There are times where we find ourselves surrounded by a negative network and Steli and Hiten believe that the solution, oftentimes, begins with us. Listen to find out how the mindset we choose can make all the difference in the world when it comes to how we relate to our network—positive or negative.

Time Stamped Show Notes:

00:30 – Steli introduces today’s topic: the content of personal network

3 Key Points:

Follow your gut, not your head, when deciding who should be a part of your personal network.

Steli Efti: Hey, everybody. This is Steli Efti.

Hiten Shah: And this is Hiten Shah.

Steli Efti: And in today’s episode of The Startup Chat, we want to talk about the concept of personal networks, or the idea that your network is your net worth, or show me your five best friends, I’ll tell you who you are. We never really talk about how to select your friends and how to build your community or your network of people that you work with, that you’re friendly with and how to expand on that and how to think about that. So, I thought that that would be kind of a fun topic to chat about.

Hiten Shah: Yeah, I love it. I didn’t know what the topic was going to be today because we’re just jumping right in and that’s what I wanted, and Steli’s always ready for that. So, I’m going to start with something.

Steli Efti: Cool.

In this episode, Steli and Hiten talk about the book The Answer to How is Yes. Steli is currently reading the book and believes it has a powerful message that can impact one’s decision making. Listen as Steli and Hiten discuss the question “how” and the implications this one question can have on our daily decisions in life and in business.  

Time Stamped Show Notes:

00:30 – Steli introduces the book

3 Key Points:

If something has to be done, get it done – no questions asked.

Hiten: Hi, this is Hiten Shah.

Steli: And this Steli Efti. And in today’s episode of The Startup Chat, I actually wanna do something unusual. I don’t think we’ve ever done this, which is talk a little bit about a book I’m currently reading. So we’ve talked about books and why we love reading, and I think it’s very apparent to most people that know us and have listened to the podcast for a while that we are passionate readers. But I don’t think we’ve ever reviewed a book. And I don’t wanna do that today, because I’m still kind of in the middle of reading it. But I wanna discuss some core ideas I’m picking up out of this book with you, because I’m dying to hear your thoughts on this. So the book that I’m currently reading is written by Peter Block, and it’s called The Answer to How is Yes.

Hiten: Okay. I haven’t read it.

In this episode, Steli and Hiten discuss the pros and cons of following technology business trends. Startups tend to just go with the flow in regards to these trends without considering if the concept fits their company and is even doable. Listen to learn why it is important to do your research before jumping in and how there is a RIGHT way to implement these new technologies.

Time Stamped Show Notes:

00:33 – Steli and Hiten open today’s show

3 Key Points:

In adapting a new technology trend, consider whether it’s good for the world, has longevity, and that you will be able to do it successfully.

People tend to overhype these trends and undervalue the complications—make sure you ASSESS well whether it’s right for you.

Decide whether the technological trend makes sense for your product and company BEFORE making that investment of time, energy, and resources.

The post

In this episode, Steli and Hiten discuss the truth behind the sales and marketing tactics that have supposedly “died” in 2016. Steli and Hiten will provide a more balanced approach to understanding how to interpret the surge of advice that comes at the end of the year regarding sales strategies. Listen to see if these dying tactics and strategies are, in fact, labelled redundant for the coming year or if you are falling victim to yet another clickbait.  

Time Stamped Show Notes:

00:37 – Steli and Hiten open today’s show

3 Key Points:

Things constantly evolve and change, but nothing really “dies”.

The post 165: Sales & Marketing Tactics that Died in 2016 appeared first on The Startup Chat with Steli & Hiten.

In this episode, Steli and Hiten discuss the strategies and knowledge needed to utilize email marketing in the most effective way possible for your business campaign. Listen and learn as Steli and Hiten discuss the advantages of email marketing, the content and frequency of a strong, marketing email, and how to test your headlines to turn those “opens” into conversions.

Time Stamped Show Notes:

00:44 –  In Episode 14, Startup Chat talked about the “cold email”

3 Key Points:

Email is one of the BEST tools that you’re just NOT utilizing enough. 2.

Resources Mentioned:

Startup Chat: Episode 14 – Cold Email

Steli Efti: Hey, everyone. This is Steli Efti.

Hiten Shah: And this is Hiten Shah.

Steli Efti: In today’s episode, we’re going to talk about email marketing. So how to think about utilizing email, sending emails, what type of emails to send as part of your overall marketing strategy. We did an episode prior on email. It was more kind of cold emails more from a sales perspective. That was episode 14. Wow, I didn’t realize it was that early. But if you want to check out the cold email episode Hiten and I recorded, just Google Startup Chat, Episode 14. You’ll find it. But today,

In this episode, Steli and Hiten share tips and tactics that keep your customers up-to-date with your products or services. Listen and learn from Steli and Hiten’s own personal experience of what works, what doesn’t work, and the feasible, clear-cut methods you can easily employ to keep your clients in the loop.  

Time Stamped Show Notes:

00:36 – “One of the most painful things that can happen is a client unsubscribing because your product is lacking some feature…”

3 Key Points:

Make the effort to EDUCATE your customers with changes you’ve made to your product.

Resources Mentioned:

Drift and Crazy Egg – Ways you can update

The post 163: How to Announce Product Updates appeared first on The Startup Chat with Steli & Hiten.

In this episode, Steli and Hiten discuss the importance of company retreats. A retreat is a valuable part of a company and should be planned and executed well—start to finish. Listen as Steli and Hiten share their own company retreat experiences.  They reveal what worked, what didn’t, and provide pointed suggestions on how to get the most value out of the company retreat experience.  

Time Stamped Show Notes:

00:10 – Steli introducing company retreats and its value

3 Key Points:

Be intentional with the planning of a retreat—from where people sleep to the coffee on tap next door.

Steli Efti: Everyone, this is Steli Efti.

Hiten Shah: And, this is Hiten Shah.

Steli Efti: And, in today's episode of The Startup Chat, we're going to talk about how to do team retreats, company retreats and how to do the well – why you should even consider doing them, how companies do them – how to do wrong, how to do the well. What is the practical value of them? I just want to explore the city with you – one of the reasons why I want to talk about this with you Hiten today is that I just returned from our last team retreat of the year. We were – we just spent a week in Santa Barbara.

It was beautiful – beautiful weather and we spent a week there with 20 people. This team and our team has grown quite significantly from eight people in January to 20 people. It’s still a tiny team but it's going quite a lot for us and this just ...

In this episode, Steli and Hiten discuss the true meaning of the season, Thanksgiving. Listen as Steli and Hiten go deep into our emotions to reveal what giving thanks is really about, how to show gratefulness and the importance of showing others we are thankful for them. They will also discuss how gratitude plays a role in creating a successful business.  

Time Stamped Show Notes:

00:27 – It’s that time of the year to be thankful

3 Key Points:

Giving thanks is a sign of unselfishness—don’t withhold it.

Resources Mentioned:

The Thank You Economy – Gary Vaynerchuck’s book that Steli used as an example

Steli Efti: Hey, this is Steli Efti.

Hiten Shah: And, this is Hiten Shah, and today, on today’s startup chat we're going to talk about – well it's Thanksgiving, and we’re recording so the first idea that popped in our heads lets you talk about being thankful, gratefulness, gratitude, and all those wonderful things that – you know oftentimes were thinking about it this time of the year.

Steli Efti: And, in the immortal words of Hiten Shah – before we decided to start recording this episode, I think you said something along the lines of you know, people love that shit! So, it was one of one of many reasons why it might be a good idea to talk about this, but I do think that there's something more to this. So, of course we can just go – what are you grateful for your life? I'm grateful for this.

Hiten Shah: No, we’re not doing that.

Steli Efti: But, we're not going to do that, right? we're not gonna be that much of a cliché in this episode, but I do of a cliché in this episode but I do powerful transformative in the act of you know gratitude, gratefulness, appreciation and that that matters a lot,

In this episode, Steli and Hiten are talk about closing especially in sales. Closing is involved in any relationship you have and there’s a foundation that you need to build. Listen as Steli answers questions on how closing doesn’t start with a closing, why is a foundation needed and the major no-nos in closing and selling.  

Time Stamped Show Notes:

00:28 – Hiten introducing closing as it is used in sales and other places

01:25 – “Closing is the art of making a decision or facilitate a decision”

01:58 – Closing doesn’t start with closing

02:07 – Closing starts with selling

03:59 – Most people find it difficult to make a decision

03:36 – Some misconceptions about closing

04:00 – Closing is a singular event but it is not

05:53 – Closing creates a moment of truth

06:00 – It is an opportunity for people to get real

06:12 – Most people takes rejection negatively

06:20 – People should see it as an opportunity to be excited and improve more

07:38 – “A NO in that moment is a NO but it just means that there’s more to learn here”

08:03 – Take the other person seriously

10:37 – “There’s a foundation to closing that needs to be set up earlier”

10:40 – The foundation happens in the beginning of any relationship and the goal is to completely show them that the deal needs to happen

11:28 – First try to sell yourself and the moment that you’re convinced that your product is the best for them and it will make them successful, don’t ask them to buy but tell them to buy

12:33 – Selling and closing is a transaction of confidence

12:54 – “If you are not confident, you can’t make a decision”

14:16 – What are No-Nos in selling or closing?

14:44 – People are not asking for the close

15:00 – People end a conversation without having a next step or call to action

21:00 – “When go for the close and asks somebody to make a decision, you need to ask with confidence clarity and expect a yes and if you get a no, embrace it and take it as a learning experience. If you do that, you can have an amazing closure”

3 Key Points:

Closing is the art of making a decision or facilitate a decision.

Steli: Hey, everyone this is Steli Efti.

Hiten: And this is Hiten Shah. And today on the Startup Chat, we're going to talk about closing. And the most common sort of terminology, or when closing is used is in sales. But I would say to just to kind of put this out there is that you're probably closing all the time.