Earlier in 2020, Travis got the opportunity to connect with Co-Founder of Late Checkout, Greg Isenberg. Listen in as Greg shared some of his thoughts in addition to:Episode Highlights:There's a shortage of startup founders and people working on startups to fulfill market needsWe're entering an Entrepreneurial Renaissance that will go down as one of the most interesting periods of all timeIf you can clone yourself or if you have deep insight into a particular community, you can most likely build a startup around itAnd you could probably make at least seven figures from itMeetup story about https://twitter.com/heif (Scott Heiferman) and Meetup CrawlsFrom a Startup point of view, your ability to create something that speaks to that community and gets them to try it is high.There's a thirst and hunger right now for new productsFacebook started off as a tool for college students - the book of faces, literally and eventually they added social networking and all the additional features we now knowUtility precedes community in a lot of sensesHow to identify a potential community of people to serve and build a tool forUber Drivers, Lyft Drivers, and the Gig Economy (DoorDash, Seamless, etc.) "Hey this is a group for Uber Drivers, Lyft Drivers, and the Gig Economy (DoorDash, Seamless, etc.)"Understand what they need - maybe they need an analytics tool that shows them how to make more money, or maybe what they really need is a map of drivers around them, or a part line, or a clubhouse area, etcHow do you serve your community?The purpose of a server is to attend to the needs and wants of a particular community of people and your job is to deliver that value to the community you serveWhen it comes to community-oriented products, it's about distilling the needs and wants of a particular community in a really succinct way that makes people feel at homeEvery product that is mainstream started with a small group of peopleUber exampleReddit ExampleIn B2B, don't forget you're still working with peopleMake sure you speak in plain English in a way people understandWhat keeps Greg up at nightHis ambitionsBeing best in classGreg shared insights about his substack and what he does at Late CheckoutGreg's key traits of a successful community and his processStep 0 - Where do you have a fundamental advantage over other people? What types of communities do you know better than anyone else?Canadian app for people who are from Canada and live in the USQuestions about naturalization, getting citizenship, and there are probably other people who may have questionsWhere do they have those questions? What are the most common questions?Step 1 - Start with research and identify a few communities and you're going to select one to go deep with.Deep like a week doing research, and coming up with a hypothesis - where is this? Where is there an opportunity to help people? How do we serve these people?Step 2 - Observing and looking at the dataMany data sources including:Trending SubReddits, Instagram, Facebook, TikTok Twitter, Meetup, Spotify, Clubhouse or LinkedInGo deep on one of the above platforms to really understand where people are and what their needs areStep 3 - Develop experiments with the goal of obtaining feedbackIf Greg were to rewrite Lean Startup today, he would add a community lense to itadd steps around the research and bringing in the community and speaking to moderators, on Reddit, speaking to moderators on Facebook, and co-building the product togetherStep 4 - Design sprint and then a community design sprintStep 5 - Determine if your startup can hit product-market fit or not2 Favorite Points:If you have a key insight into a particular community, you could probably build a startup around it, and you could probably make at least seven figures from it. The purpose of a server is to attend to the needs and wants of a particular community of people and your job is