Lessons From The Kiwi Fitness App Making $80 Million Per Year - Behind The Pod

Last week on our Business in Between channel we heard the incredible story of how a Kiwi entrepreneur turned an idea for a fitness goal setting app into a global business with customers in over 150 countries and revenue exceeding $80 million a year.

It's the story of Adam El-Agez and his app called The Conqueror.

Adam came packed with advice and detailed eight of his best business lessons for entrepreneurs - learned over two decades of a rollercoaster business ride.

Adam's business lessons:

1. You're usually way closer to success than you feel like you are. It can all change on one email or picking up the phone or going for a walk and coming up with a new idea

2. Keep the faith in your product idea, but always be totally honest about how good or bad your product is. Sometimes it's perfect in your head, but shithouse in reality. If you can see that it's delivering people benefits then keep at it. If customers aren't really fizzing over it then something needs to change.

3. Be super aware of your cognitive bias towards things that support your existing opinion on something while rejecting information that goes against it. It's so fucken hard to do, but if you don't then you're in lala land.

4. You don't deserve to be successful. You're not special. Make shit happen yourself, don't wait for it to happen because of some belief that it's your destiny. 

5. If I can do it in 20 years then the average person can probably do it in 5-10 years if you point yourself in the right direction and stick at it

6. Success and wealth is preferable to not having wealth but that's all it is. You still have similar struggles because your baselines move. It's still hard to go for a run or to eat healthy. Money isn't the solution to all your problems.

7. "Having an idea for an app" is only a tiny part of what you need. Creating an app is creating a tech business - there's no escaping that. 

8. If you build it, they won't come. You need to have a very clear path to customer acquisition and be real about how much it is going to cost to acquire a customer

Listen to the episode here... there are so many brilliant business nuggets packed throughout.

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