Business Athletes - High-performance habits of top founders
Hey everyone šJust sharing my chat with one of our own here at IndieHackers, James Davenport of UserLoop, a SaaS app that collects and analyses customer feedback with the power of AI, designed to help store owners grow their sales.
James has also recently launched the No Code UK, scheduled for 21st May 2024 in London. This event brings together NoCode developers, freelancers, educators, and agency owners to network, learn, and collaborate. š
PRE-GAME PREPARATION
Routines Of A Night Owl
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I typically work quite late a lot of the time. I guess I've always been a bit of a night owl.
So I do all of the workout stuff in the morning to get me going for the day. Then I check emails and do a few bits and pieces.
After that, I have all the energy to start building and interacting with customers.
An Orderly Set-Up For An Orderly Mind
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As for my desk, I have a very orderly setup for work.
I donāt work with tons of screens either. I use two, or even one sometimes. And typically, I'll be working on one tool at a time as well.
Itās super important for me to minimise distractions.
GAMEDAY
Problems From Every Angle
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Operating a SaaS like UserLoop, which is part of the Shopify ecosystem, means that my users are globally distributed.
So, Iām usually busy with customer requests at every time of the day. I need to be very disciplined about dealing with my priorities every day.
Limiting Constant Interruptions
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During work, I make sure to minimise chats on Slack. There are certain occasions when it is useful - when you're kind of dealing with technical stuff or trying to work out solutions to things.
But in general, itās really disruptive when you're in the middle of actually getting stuff done.
I think there's something to be said for a well thought-out email or Loom video. I quite like it when it's fully formed and thought-through from the other person.
Thoughts:
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Different from Slack messages, well-thought-out emails and Loom videos 1) practically achieve the desired result more often due to clarity, structure and context, and 2) subliminally, showcase effort and empathy, which also helps incentivise the other party to answer with 100% care.
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These could be requests or thoughts and ideas, or even feedback to your team. And the result they most likely generate is better, more thoughtful decisions. Even if those decisions turn out to be wrong, this culture allows teams and organisations to understand the reasons why they were wrong, so they happen again.
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Other leading billion dollar startups have a very strong writing culture - Amazon, Stripe, Brexā¦just to name a few.
Iād recommend reaching this post to get started or get some ideas flowing: https://www.brex.com/journal/increasing-the-quality-of-our-decisions
What Drives Your Flow State
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The best flow state that I get into is certainly with building the product.
In terms of tools, that means that most days, I'll primarily be looking at bubble.io, which is the no-code platform UserLoop is partly built around.
I'll be on it a lot of the time, and that to be honest, is the most flow state I ever get into when working.
If you have an idea for a software product or business, thatās perhaps the best way to get started on it. One can probably build about any type of MVP using that tool. And this comes without any sponsorship from bubble.io by the way š
Building With No Compromise
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I like the freedom of being able to build and work on what I think customers deserve, without having to compromise because of investors or any one else. I really donāt ever talk to investors or think about that anymore.
As long as I'm making a product that customers like and are willing to pay for, running the business in a cash efficient way - which I think by being bootstrapped that has built into the DNA of the company - then I know Iām winning.
I guess for me the whole vibe is building something that you want to work on long-term, and that you get excited to work on every day.
POST-GAME
Designing A Business For Longevity
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I've been quite conscious about how I've structured what I'm doing now.
I've done startups before where it was like VC funded and it was very highly stressful and I probably didn't deal with it that well.
So, I was very conscious to make it less of a sprint, and more like a marathon. Instead of being hyper-aggressive and goal-orientated day in, day out - Iāve tried to optimise for longevity.
I guess I want to run my company in a calm way, and in a profitable way, where Iām aiming for an infinite runway.
I spent some real time thinking: āokay, what do I want to spend like five, 10 years on that?ā I just want to enjoy what Iām doing, and not get so stressed out that I end up burning out and just going back to doing what I was doing before.
Thoughts:
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So much has been said and discussed around VCs versus bootstrapped startups this year. Some leaders in the tech space, like Chamath Palihapitiya even shared that the winner in tech this year would be āthe bootstrapped startupā. Well, James bootstrapped before it became cool. I think thereās so much to learn from his mindset in making that decision.
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Whatās interesting is that he focused on designing a lifestyle that allowed him to work on something for a long time. Thatās the key here. Sticking with something long-enough to allow for compounding and for serendipity to find us at various moments.
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Here are a few questions to ask yourself before deciding: What kind of lifestyle do you want? Then, what type of business do you have? Is this business highly capital-intensive? Does it require deep tech or profound expertise? Does it operate in an incredibly competitive environment, where competitors are already very well capitalised?
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If the answer to one or more of these is a yes, the looking at VC might be a good move. However, if none of the answers are a yes, then Iād challenge you to think of what money can do better than pure hustle canāt. Sure, you can move quicker, delegate, etc. But that comes with a price - pressure from investors to move in directions you may not want to. Thereās definitely something to be said about building a company the calm way, making sure one has control over every decision.
Life Of An Indie Founder
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But I guess the main thing about being an indie founder is there's kind of never completely off time.
That's just the way it is. That's kind of the deal that you make with yourself.
So youāre not working nine-five anymore, youāre instead in the queue to Glastonbury and you're answering customer support tickets, which Iāve already had to do.
Every time I'm on holiday, I'm at the bar or at the pool or whatever, and Iāll have my phone answering tickets and dealing with other stuff.
THE BUSINESS ATHLETE MINDSET
What Does Winning Feel Like
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I also like the challenge of keeping up with industry development, like AI.
That's been the thing that has excited me the most - following the developments in that, seeing how quickly it's moved and how quickly I can put it into our product and in front of customers.
It doesn't feel like work so much. I just donāt have those Sunday scaries anymore.
It's not like I've got some boss breathing down my neck, being nasty. It's customers who are using the app, who I like and love to hear what they have to say and help them achieve what they want to achieve.
High-Performers That Inspire
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I donāt think there are many more people on earth doing more than Elon Musk to move things forward, I really admire his worth ethic - though not sure I could sustain it myself long term!
I often think about his withering message to the former Twitter CEO - āWhat did you get done this week?ā.
I do my best to make sure I have a good answer to that every week - even if Iām only answering myself!
---> If youāve enjoyed this, donāt forget to subscribe below so you donāt miss next weekās incredible interview with another bootstrapped founder growing like crazy! ā”ļø
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