Do you invest in the stock market? Do you actually know what you’re doing? Successful entrepreneur and investor Noah Kagan shares timeless advice about investing, growth tips, marketing, and more.
Noah Kagan was employee #30 at Facebook, employee #4 at Mint.com, and is the Chief Sumo (founder) at SumoMe, which offers free tools to help grow website traffic. To keep things extra spicy, he’s become a taco connoisseur and created 4 separate products that have generated more than 7 figures.
Time Stamped Show Notes
[2:35] Define the problem you’re solving, your goal and your customer in order to more traffic because you’ll be helping solve something people are looking an answer for.
[3:30] While working at Facebook, Noah felt surrounded by geniuses and cables.
[4:02] Noah pretended he knew about stock investing and went on to get started in the market.
[4:56] Thinking of himself as a genius when he first bought and the stocks went up, but then a few months later the value went down to 0.
[6:30] Noah’s strategy was following the company but he didn’t understand the economics behind it. He picks based on emotion.
[7:45] Real estate is different, you might not catch a problem. Stocks are public, data available and stock expect to reflect that data.
[8:45] Found out he’s not good at stock picking because he doesn’t understand what’s behind the company.
[9:46] With ups and downs in his business journey, the most important part is what he’s learning and doing for the future.
[10:45] Noah is working on a ‘no complain week’ and has found that it’s better to focus on what you can control and looking for a solution for that.
[14:12] Overall, life is great but we don’t take the time to look at that. If you’re listening to this podcast, half your battles were won before you were ever born.
[16:12] Everyone should have a chance and it’s up to them if they take it. Stop blaming others and making excuses.
[17:10] Failing Forward Segment
- What would you say is the common theme in the failures you’ve experienced? – “Not thinking through things. Like hiring people, business decisions, probably could have spent more time thinking through stuff but on the flip side, I think a lot of my successes come cause I don’t think that much. I spend more time doing than thinking.”
- What is the single most important lesson you learned from this? – “The number one thing is how are you learning to improve on the future? What are you learning about what happened to make it better in the future?
- How do you protect yourself from failing in this way again? – “You gotta be cautious of that. I think of it like a pendulum. You have to be aware that you don’t swing the pendulum too far.”
- Who do you turn to when you need help? – “I have a network of people for different parts. My buddy Adam is the most consistent person I know, my brother for overall life stuff, Chad on business things.”
- What advice would you give to someone in a similar position? – “Find people that are really going to help you with that and hold you accountable to it.”
[23:24] Sumo.com is where you can go to use the tools Noah has made available to help businesses grow online.
[24:20] Noah Kagan Presents has been tough for Noah but he cares about it and podcasting has been a good experience for him.
[25:19] Noah’s final thought: “Bad things are gonna happen, mistakes are gonna happen, so the two things you can do is learn from it and make it better and then focus on your sweet spots.”