How to Scale your Startup with Growth Levers: Matt Lerner
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- čas přidán 23. 07. 2024
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In this episode of Deep Dive, I'm thrilled to interview Matt Lerner, the founder of SYSTM and author of "Growth Levers." Matt shares his wisdom on helping startups uncover their big growth levers, the challenges of decision-making and the pitfalls of focusing only on revenue.
We also explore growth strategies like viral and authentic videos and the necessity of engaging and retaining viewers through positive feedback loops.
This episode is packed with practical tips and strategies. I hope you find listening to it as enjoyable as I found recording it 🙂
00:00 Uncovering Growth Levers
12:45 Aligning Organisational Pieces for Growth
28:43 Deciding Which Ideas to Pursue
39:17 The Importance of Fresh Content
46:15 Measuring Monthly Returning Viewers and Conversion Rates
55:26 Monetisation Strategies: Sponsorships, Affiliates, and Own Products
01:19:07 Simplifying and Consolidating for Focus
01:24:13 Leveraging Podcast Episodes for CZcams Videos
01:32:23 Reevaluating the Business Model
02:01:01 De-risking the Business
02:06:26 Unlocking Bottlenecks
02:12:43 Doing Fewer Things and Making More Mistakes
02:21:30 Building a Portfolio of Small Businesses
02:28:22 The Importance of Clear Hypotheses and Documentation
🔗 CONNECT WITH MATT
🎥 CZcams Channel - / @mattlerneratstartupco...
🐦 X ( Twitter ) - x.com/matthlerner
💻 Website - www.systm.co/
👥 Linkedin - / matthewlerner
🔗 CONNECT WITH ALI
🎥 CZcams Channel - / @aliabdaal
🐦 X ( Twitter ) - / aliabdaal
📸 Instagram - / aliabdaal
💻 Website - aliabdaal.com
👥 Linkedin - / ali-abdaal
📄SHOW NOTES & TRANSCRIPT
Visit the website for the transcript and highlights from the conversation - aliabdaal.com/podcast/
🎙 ABOUT THE PODCAST
Deep Dive is the podcast that delves into the minds of entrepreneurs, creators and other inspiring people to uncover the philosophies, strategies and tools that help us live happier, healthier and more productive lives.
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I was listening to this on Apple Podcasts but came here specifically to say this: whatever you do keep recording these podcasts! And be as random as you like but they are so valuable. Also I became a subscriber by watching productivity videos. And then I applied a lot of the knowledge. Which led to one of the biggest shifts in my work in my life
These long-form discussions where you openly discuss and question your own business on its journey are the most interesting content you make. This was excellent :)
As a long time but largely soft listener/watcher, i think the final evolution of my engagement with your content in my customer journey has to do with your podcast. You ask phenomenal questions and are a joy to listen to.
I ONLY watch your podcasts and rarely if ever watch your main channel. I’m a loyal fan because of these long rambling podcasts where you talk about your own business and life. I find them very useful and easy to listen to.
I don’t like the shorter videos that much
Ali, I hope this message reaches you, I’ve listened/ watched until the end (I started on the pod but wanted to see what he was mapping out on the screen). I started watching your productivity videos about 4 years ago and since then I always find myself coming back to your videos because I trust you and I love your opinions on stuff. But mostly I value your perspective. I changed my outlook on being a maths teacher and have started a happiness/ productivity/ mindset blog on the side and frankly you got the ball rolling for me. I hadn’t questioned my life path before. I don’t have the money to pay for your courses. But I bought your book and I love your work. Thank you for doing what you’re doing.
- a loyalist.
same here 🙌🙌 support！
This has to be one of the most interesting conversations on the internet!
Matt and Ali come from entirely different business backgrounds, ones a service-based creator business, another is funding early stage startups. 20:50
I can see the instant stumble when Ali stumbled on the “who’s your ideal customer” question. Something that all founders think of, but as a creator you don’t.
As a creator-founder myself, this is such an interesting convo!!
As someone who is currently trying to grow a business, this was incredibly insightful. Got the book 10 minutes in, thanks for having all these interesting podcasts Ali!
Are we not gonna talk about how Ali used a lofi version of a Christmas song in this video? 🤣 Silent Night, FTW
Mahalo Ali and Team and guest Matt - this is a great podcast. I watch from the beginning to end. Learned a lot just by listening to your discussion. Thank you
Just to let you know Ali, that I am a loyalist that discovered your channel when you were interviewed on the DOAC podcast 🙌🏼 another British Pakistani like me, so I clicked and watched and consider myself a loyalist of your channels :)
One thing I think that you’re not valuing as much as you should is…we love your videos, how you interview and pull such valuable information from your guests or your solo thoughts. I think your products are a distraction for you. People love you on CZcams. Focus on CZcams and books. You will become so huge. That is what I say as a customer/consumer of yours. Don’t fight being on CZcams. It is where you live and have seen your amazing success so far. Focus on that. ❤️
One of the biggest reasons I watch your channel(s) is for the one-off insights you provide from YOUR EXPERIENCES. you’re a lifestyle business - I see a plethora of low-lift content by you just showing (transparently) how you utilize the skills and tools you teach us YOURSELF to work with the team, build the products, etc.
Those are the type of behind-closed-door conversations and thought processes that don’t often get seen in the world…and the ones that really move the needle :)
You gave us the fishing and taught us how to fish - now show us how and why you fish.❤
This is one of the best episodes that you have done Ali .. Being on the line is not easy but you faced it well and Mathew was a true artisan .. Well done .. This gives me a lot of ideas to implement in my own startup .. Keep them coming .. The knowledge and actions should keep happening .. Best of luck for raising your Monthly viewership -> North Star
Intuitively, I would go for the metaphysical and conduct a survey on what added value your content offers to your customers. For example, what are three points that motivate you to consume my content, and what would you wish for? As a non-ideal customer who tends to buy few books on productivity and would not take any courses, I watch your videos because they are positive, reminding me to take action every time (it never gets boring or old!). Now, I watch your videos even more because A) you have very pleasant background music, B) you have become much more human and radiate a pleasant warmth, and I see that people around you are important to you and that you don't fake it, and C) you invite interesting people like Matt Lerner and especially the Cultural Tutor Sheehan.
This episode was awesome! Please make more episodes where you’re learning how to run your business from other experts. Watching Ali learn in real time is so good
I think this is the best podcast ep here ever. Really helped me map out a north star metric not just in my business but in my life as well
Deep dive is finally back to long form
I really enjoy the deep dive like these and it will long stay and never be forgotten
when Ali enjoy it our Ali fans are happy too
Ali I wish you just do what you want and be happy with joy ☀️
This conversation is smart, but I think it is also dangerous. I see the conversation as based on some misunderstood premises.
1) Ali isn’t doing 15 things. Instagram, podcast, youtube, etc. are the same = content creation. And that is the entire business. The content is the marketing, sales, and product(=courses + book). Sure, maybe you could argue that he is doing e.g. 2 things, book and courses, but definitely not 15 things.
2) The conversation is based on a “startup hyper growth” method, and Ali’s business isn’t a startup. That is why Ali is struggling in the conversation to reduce “the 15 things” to “1 thing”. And Ali is right, CZcams could ban him tomorrow and it would all be gone - unless he didn’t also do content on other platforms. A real business would consider it a huge risk to be 100% reliant on others platform.
3) A “startup hyper growth” method is a false “truth”. This type of thinking about growth is biased towards the startups that succeed, but most fails! Therefore, this type of thinking leads most startups into failure, which doesn’t sound like a concept of truth in my ears. The world is more complicated than so.…
4) It is mentioned that Ali’s company is doing 5million usd with 22 employees, which is an average turnover of 230.000 usd/employee. That is very good, and it is not a complex organisation. The entire talk about removing complexity in this organisation seems like a false problem. Most businesses would take this complexity level as the end-goal of simplicity.
5) The funnel is complex, and Ali’s audience is getting more diversified, which is a plus. I definitely seem him moving up the ladder in terms of his appeal to an audience with a higher willingness to pay.
6) I listen to the podcast - and listened to this one for +2hours during yesterday and today while commuting. I don’t watch the youtube videos really. I bought the book, and I love it. It is novel. Therefore I am going to re-read it. It is way better than most similar american’ised books. It is has real evergreen value. This book + the podcast is building Ali so much goodwill that it seems which he doesn’t seem to realize in this talk. Alex Hormozi actually talks about this, and how building an audience is untapped business revenue which you can convert later on - when you need it. The advantage here is that you can accumulate this taxfree - you are not milking it today for pennies (which you would have to pay taxes on today), but instead you accumulate/save it up to realize its potential later on. As a follower, I can confirm that this is true. I dont’ care about the youtube academy, and wouldn’t care about the productivity lab, but someday you will make another book, or maybe another thing, and I would be all ears.
I liked the talk, and definitely had me thinking, but please don’t take the analysis in the talk to seriously;-) And yes, I searched for the video to add this comment, because I had to after listening to the podcast.
Thank you for Ali and team. We learned so much from your videos, all the little systemizing hacks and journaling prompts etc, all of it creates ripple effect and impact on lives. So just grateful for you for being transparent and sharing the up and downs of the journey.
Thank you for sharing these vulnerable interviews. I also watched the keyboard review video and it almost feels like Ali forgot the lessons he said he learned from that based on all the pushback he gave Matt Lerner here. Would love to see a part 2 break through session where it all clicks for him 💕I can resonate with having too many ideas and spreading myself too thin so was really loving the feedback to simplify that Matt gave
Thank you so much for this video! I really loved the process and struggle you were willing to go through. It reminded me a lot of how I think and how not everything is as black and white as I think it will all result in. Wishing you all the best success in growing further Ali!
I enjoy listening to these long conversations on this podcast , and the discovery, deep diving and problem solving process. This is the main reason I become a fan! I'm not a business person but it doesn't matter. I'm still so interested and curious that I've finished the whole and look forward to part 2. Your guest Matt is brilliant, succinct and punchy. I can link a lot of the points to life and career too. Keep these interesting talks!❤
Watching the process of analyzing your business and future has given great insight to how I will proceed with my business. Kudos to you both!
I have listened to your videos for quite some time. Yes, listened. All on CZcams.
I discovered you via a short clip on tiktok about 2 years ago.
I also listen to some other creators/entrepreneurs on CZcams such as Alex Hermoniz, Patrick bet David.
I do not buy any of your courses and I like your longer videos such as this one more than your long videos.
I never ever put any comment or like any video which I now release is a shame since this feedback is great for you. That is why I also leave this feedback today.
I work my day job but I am also working on the side to start my own and "break free".
I listen to your videos here on CZcams whenever I see you have posted something interesting and listen to is in the car, when running, in the gym etc. I don't listen to music, I listen to people who bring value.
Such a great conversation. I really appreciated this raw breakdown thinking through the business model.
Cheers, Ali - this was mega helpful.
I feel that the interviews that you do which focus around practical advice and information are the things that provide the most value.
You were talking about your previous podcasts and making them in to videos - if you created an entire series taking those interviews and summarising the practical steps people could implement to reach those outcome outlined in the interviews, I personally belive that series could be a huge growth channel that ties to the goal of positively impacting the lives of listeners.
(This could also be tied to a really cool insta campaign where people show in 60 seconds how the practical advice impacted thier life/businesses which you can also use a data to contribute towards key metrics)
Amazing value. Thanks guys!
Ali, your honesty and vulnerability had me listening to the end. In the end, we are all connected by the same entrepreneurial thread, trying to do the best we can with what we know.
I learned A LOT from this episode. Thank you!
These podcasts helping me to make my Astronomy startup. Thankyou ❤
❤ watched to the end. It was insightful for a startup trying to scale. Feedback... Ali, are you going for impact on lives or increased revenue ?
Diversification is good 👍 but perhaps on your terms ?
You no longer need to strive for sitting for 14 GCSEs , you have " made" it and going forward focus on enjoying the journey ❤
Happy to chat more to convey my observation
I am a fan, Superfan, as Pat will term it 😊
Thanks for the book recommendation, BTW 😀
As a returning viewer, I like these types of videos best - long form interviews. I have never watched your vlogs and don't intend to because I prefer to get value and insight about business. Thanks for sharing
I got value from this, thank you!
We love Matt! Such a great video Ali - new follower of yours. Love Team Financielle 💸
Nice video, Thank you❤
Here is a little "spicy feedback" Ali. I LOVE your videos and your channels! I literally watch them all. I watch a ton of long form videos on CZcams and I am an active participant in the comments on quite a few channels. I don't comment on your videos because you don't participate in the comments.
I have written a couple of times even when you have "asked people to comment" like the video with Dickie Bush. I took the time to write a long response, quite a few people did actually, and it is always crickets from your side.
You have to give to get if you want comments.
It's the same with your TikTok. No responses to comments there either. I get that that's not your main channel...but this is. So why isn't there any interaction on here? At the very least for the few initial comments. It's not like the feed is flooded. But maybe there is a reason why...
Again, I'm a true lover of your content and all that you do. Honestly. But I just wish you would take a little more time to interact with the people who take their time to comment on your feed. Especially when you ask them too. Tarryl.
PS- A little Spoon full of sugar to help the medicine go down (I can't sing it due to copywriter) *book reference - I watch every video to the end and what makes me one of the loyal followers is that there is a variety of content that is tangible that I take from each of the videos no matter what the content is. Even the ones I didn't think I would particularly enjoy watching (based off the title), when I inevitably did watch it until the end, I still took something from it. That's why I became a loyal follower.
Love hearing/watching your podcasts and vlogs, but am I just the only one noticing the Christmas lofi in the background?❤
Ali I know that you are treating this as a passion project, but your podcasts are amazing and provide a lot of value.
Even though there aren't a lot of engagement maybe the type of people in this podcasts are the type that can be easier to moneytize.
It's easier to grow to a 50M business than 50M followers.
Look at the comments here :)
Ali was quite transparent in this one. Great value
I’m one of your keep-coming-back subscribers!
That was fantastic, almost like a business mastermind session. I personally find this kind of content from your really useful. It was the Dan P episode that pulled me in and I have no interest in growing a CZcams channel. Keep up the good work!
I think your mission is to educate people that love to learn, grow and develop (self actualization in meeting their goals). Your podcasts are great given the people that you interview...
Maybe it's just the journey of Ali and what you've enjoyed to learn & share with the rest of the world... with an interesting diverse set of topics that are all related to productivity (e.g., health, habits, social networks, financial freedom, etc)
Would using a drip content strategy work? Provide high-level knowledge and content on free platform like YT, but the more exclusive or in-dpeth content for a low cost membership?
@DeepDivewithAliAbdaal Could the internal struggle that you're experiencing be related to shifting from a "teacher" role to an "entrepreneur" agent?
You could post the live returning monthly view count on the wall
Wow. This is painful. I love the transparency though.
lol why the xmas music? 😂
Very valuable podcast. Thanks.👍 In the podcast you said that you give 10% of your income to charity. I'm trying to grow my youtube channel to at list 50% of my income to help people who need it. I'm student and also doing some casual jobs to support myself at the moment. If I had enough money to support myself for at least 3 months, I would focus on my CZcams channel and study!
A family has a big financial problem that argently needs at least $1000 to go to the doctor. It's not right place saying this, but do you know any way to help this family? Thanks
You need a coach Ali!
your podcast is your most valuable content to my life- the idea that you'd stop doing it in favor of the bottom line revenue of your (already multi-million dollar) business is such a disappointing suggestion. I think one of the disconnects that I often hear you try to communicate during these entrepreneurial discussions, is that, while the business components are important and interesting, there is also an "art" type of component to being a creator where the "north star" is meaning-making, not revenue. Sometimes the "art" goals and the "business" goals are hard to reconcile together (at least in my experience), which I believe is where your stated fear of eventually making stale out-of-touch content may come from. Please don't throw out the meaning-making stakes of your projects in favor of growth for growth's sake
The #1 reason I am not a return viewer is I can’t tolerate the music while you’re talking
#2 is
the intros feel like a TV commercial for a show I am ready to watch
Please consider dropping the music and the intros
See what happens
Your title and thumbnail are intros enough
Get started immediately
I loved this episode but almost didn’t watch it because it too so long to actually start
Thank you for sharing your business/life journey. I would like to be a bigger fan.
Second
Ali needs to focus. This can be done through systems. These systems allow delegation. There is too much key man risk. The business should expand even if Ali got sidelined or dead.
Corporations can grow product lines and reach far beyond their creators existence. Systems with documentation and key metric and mission statements etc.
Clarity in documentation form is key. Relying in key people and tribal knowledge is death sentence.
If Ali got sidelined then I may argue that the business would hit the ground pretty hard. Ali is filled with genuinety and it’s a reason I keep returning. I sort of see him as a role model and others may feel the same. If investors took it over his key audience would notice and I would argue a product would only sell as well as the product is rather than bc of the value that Ali wants to contribute. You can tell you don’t follow his content bc he doesn’t want to turn himself into the fastest way to make money he wants to make money as a biproduct of providing value and impact in the domain he wants to.
@@kaden_priebe It's interesting you are so confident in how much I have watched their content because you disagree with my statements.
What do you thing key man risk is? I ask because you seemed offended at the dead statement. Do you believe I said I thought he should be dead?
First:)
Nope this returning viewer is not as interested in your vlog. I'm most likely to watch your pods first, then your educational (YT, productivity, or business related), and apparently comment twice on a podcast (first on the first release of this pod, but now on the rerelease even though I was very mildly annoyed that I had to dig through and see where I left off on the first release).
Can you realise your podcasts in hindi language because it can help so much people ❤
Really excellent discussion. I kept thinking that scoreapp For surveys would be helpful here - I think you already had Daniel Priestley on as a guest. Just a thought.