My First Million

#87 with Greg Isenberg - The Millions to be Made Unbundling Reddit

42 snips
Jul 1, 2020
In this engaging conversation, Greg Isenberg, a serial entrepreneur known for his expertise in startup building, discusses the unbundling of Reddit and its potential for niche business opportunities. He shares a formula for identifying which subreddits could evolve into successful ventures. The discussion highlights the power of community engagement and effective branding strategies. Additionally, Greg delves into innovative profit-sharing models in startups and the impact of giveaways on user acquisition, showcasing fascinating examples that blend fun with entrepreneurship.
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ADVICE

Building on Existing Communities

  • Identify communities on platforms like Reddit with unmet needs and strong engagement.
  • Then, develop products or services that cater to those needs and integrate with that platform.
ADVICE

Building Community-Focused Products

  • Create a resonant brand that speaks authentically to the target audience.
  • For example, Discord's branding caters to the gamer community, which contributes to its success.
ANECDOTE

Garage Gym Niche

  • A website specializing in garage gym equipment reviews, similar to Wirecutter, has found success catering to a niche Reddit community.
  • This demonstrates the potential of monetizing niche interests through affiliate marketing.
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