Aki Lau's Key Ideas from Million Dollar Weekend
by Noah Kagan

• Fear of starting
• Fear of asking

• Ask someone you know for a dollar investment in you and your future business
• Ask one person you respect for a business idea
• Choose your freedom number, an attainable number (money) that you need to enjoy the freedom you want

• Who you are selling to?
• What problem you’re solving?
• Where they are?

• Look for something working in one category and bring it to another
• When in doubts, solve your own problems. If you are willing to pay for a solution, it’s likely others are, too

• The best entrepreneurs are the most dissatisfied. They’re always thinking of how things can be better
• The crucial first step toward entrepreneurship is to study your own happiness and to think of solutions (aka business opportunities) for you to sell

• Solve your own problems
• Thing about problems that you have
• Bestsellers are your best friends
• Think about some accessorising ideas for existing bestselling products
• Visit a marketplace
• Find ideas by studying marketplaces where people are trying to spend money. It can be Facebook marketplace, Etsy, or other local/ global marketplaces
• Look at search engines queries
• Find our things that other people also search for online

Step 1: Find $1 Million worth of customer

Step 2: Is this a million-dollar opportunities?

Step3: The one-minute business model

• Is the market growing or dying?
• How many potential customers are there?

• Find the size of market, cost of your product/ service, and total value
• Size of Market X Cost of Product/ Service = Market opportunity
• See if it’s a million-dollar idea or not

• Know your target profit (e.g. $1,000,000), profit per unit sold, and total sales needed
• Revenue - Cost = Profit
• Target Profit ÷ Profit per unit sold = Total sales needed
• Ask yourself, if this is going to be a one-off purchase, something customers buyu here and there when they want to consume it, or can you make it a monthly recurring sale?
• It’s always better to be in the reorder business

Average order value: Increase the amount someone purchase

Frequency: Increase how often someone will buy your service

Price point: Increase or decrease your price point to affect total sales

Customer type: Approach a more Lucrative/ wealthier customer segment

Product line: Add additional products to make the business more attractive to start

Add-on services: If you’re selling a product like cookies, can you offer a service like setting up birthday parties or cooking at the person’s home?

• Pick one business idea
• Make sure it’s a million-dollar opportunity
• Confirm your business idea is profitable

• Ffind three customers in 48 hours who will give you money for your idea
• You’re allowed only 48 hours
• Collect money upfront

• Direct preselling
• Use marketplaces
• Use landing pages

• Use social media to build an audience who will support you for life
• Pick a platform (e.g. Instagram, LinkedIn, Facebook, etc)
• Create content for your core circle
• Send emails with effective copywriting
• Get your first subscribers with a landing page

• A checklist that can be used to properly perform something
• Atemplate for determining something (e.g. a business’s profit margin)
• An advanced guide that gives further into the details of a subject
• x ideas to do something

• Set a single hyper-focused exact goal
• Create your marketing experiment list
• Double down on what works
• Make your first 100 customers happier