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Make something really cool.
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Key takeaways
- We took our top 100 customers and said, "Hey, why don't you try it out?
- Well, yeah, that's why it's called investing in a business.
- Number two is they can refer you other customers via word of mouth that you did a good job.
- You do such a good job that they're like, I don't want this to stop.
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Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00Everything that I do, I always start with free. Whether it's a new product line in a massive company, one of our portfolio companies, we built out a software product. And what did we do? We started for free. We took our top 100 customers and said, "Hey, why don't you try it out? Let us know. Get us feedback." And they just kept giving us feedback. And honestly, in the beginning, the fact that some people want to charge for this is insane. It's like they're giving me so much valuable stuff. I'm just happy that they use it. And for those of you who are worried about your pocketbook, like I'm fronting all these costs. Well, yeah, that's why it's called investing in a business.
0:28>> [music] >> But people who you work with for free can make you money in three ways. Number one is they can leave you a testimonial. Number two is they can refer you other customers via word of mouth that you did a good job. And number three, they can actually stay on and pay after a certain period of time when you do make it not free and you make it for money. You do such a good job that they're like, I don't want this to stop. And then you say, great, now you can do it in exchange for money because I can't do this anymore in exchange for nothing.
0:52You go with free and then you go with a small small amount of money and then you keep raising your prices over …