Can You Make Millions on Meeting Notes? with Tyler King

<p>If you like the show, please <a href="https://podcasts.apple.com/us/podcast/run-with-it/id1477133536">leave a review on Apple Podcasts</a>!</p><p><b><strong>Nuggets:</strong></b></p><ul> <li>Simple tip to increase your meeting effectiveness: stop 5 minutes early and ask “who will do what by when?”<p></p> </li> <li>Generally easier to sell to a profit center than a cost center (listen to Aline Lerner episode for more on this)<p></p> </li> <li>The hard part of this idea is building something users will stick with. Focus more on reducing friction and making the app a joy to use and worry less about back-end bells and whistles.<p></p> </li> <li>Look for teachable moments within an industry as the foundation of content marketing for your business or even for the foundation of your app’s functionality.<p></p> </li> <li>Note-taking is a necessary step in many industries (e.g. financial service, corporate governance) and non-compliance with note taking can come with serious penalties.<p></p> </li> </ul><p><b><strong>Action Steps:</strong></b></p><ol> <li>Decide on the niche you want to serve. Will you go broad and seek a large user base for a low LTV per user or aim for less users in a more profitable niche (e.g. lawyers, financial services)</li> <li>Start with a simple integration that triggers emails to the user 10-15 minutes before the meetings in their calendar. The user can reply with their notes. Store them in an organized database for review.</li> <li>As your user base grows you can add premium features, like integrating with CRM or other note tracking app.</li> <li>If you have niched down you can customize your app to serve your chosen niche. For example create custom notifications and note templates that facilitate note taking for corporate compliance.</li> <li>A healthy long term vision might aim for 50,000 users at about $5 per month, grossing around $3 million a year in revenue.</li> </ol><p><br></p><p><strong>Follow through on these action steps and email us your results at update@runwithit.fm. Y