Welcome to another edition of our newsletter! You’ll receive practical startup advice straight to your inbox every week.
In this week’s edition, we discuss
- How to build businesses that withstand the AI revolution
- Why your pitch is making your startup seem too magical
P.S. If you’re deep in the entrepreneurial trenches and have a story to tell, we’d love to read it (and publish it).
Entrepreneurs everywhere have been trying to grasp the impact of the recent artificial intelligence innovations and how they may disrupt countless industries. To beat the machines, Rachel Greenberg believes emotions are the key to building an AI-resistant business.
There is no black-and-white with emotional purchases, and that’s exactly where the remaining whitespace lies for human-powered businesses:
- Parents love their kids: For many, they’d do almost anything for them. That’s a market.
- People in love: Think the wedding industry, engagement rings, the works, etc.
- Love in trouble: Think marriage counseling, therapy, and the purchases spouses attempt to make to fill the void in a disintegrating relationship.
- Self-love and confidence: There’s a reason people read self-help books and hire 5-figure life coaches, and it isn’t because they believe that the next book or coach will be their last or provide the one answer they’ve been missing.
- Self-dissatisfaction, health, and vanity: Many people connect deep emotions with their physical bodies, from how they look to how they feel about and how they assume others feel looking at them. It’s a largely emotion-driven industry, which is why it’s so lucrative, sticky, and effective.
👉 Learn how to beat the AI: How to Build a Business AI Won’t Kill Overnight
Aaron Dinin, PhD has seen a pitch or two. And he’s seen too many entrepreneurs who believe they have created something magical. The problem is, most adults — and especially investors — aren’t often fooled by the wild claims.
Lots of entrepreneurs do the same thing and over-promise the value their products deliver because they think they need to in order to make sales. Then they develop overly-complex products nobody can use and pretend their products will deliver unrealistic value propositions nobody can achieve.
Remember, you’re not selling your product to children. Or rather, most of you reading this article aren’t selling products to children. Sure, if you’re one of the relatively few entrepreneurs building child-focused products, feel free to create magical stories about what your product can accomplish. For everyone else, don’t try to sell magic. Your audience won’t believe you, and they won’t buy.
👉 Go deeper here: Your Pitch Is Making Your Startup’s Product Seem Too Magical