Empathy + 2 laptops = $2 million/mo

Plus, how to recognize the signs of entrepreneurial burnout ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  October 4th, 2021 The Memo | Issue #62 TOGETHER WITH Empathy will get you everywhere. If this week’s edition has a theme, it’s empathy. And we aren’t just talking about general empathy for the world. We’re talking about deep empathy for your customers and yourself. Empathizing with your customers is at the core of building a sustainable, scalable business. But showing yourself grace and empathy is just as important in the long run. Now, let’s dive in... 6 Reasons Successful Businesses Fail Businesses fail for all sorts of reasons, but what about those businesses that start out strong and still end up failing? In this video, I’m going to teach you the 6 reasons “successful” businesses fail and show you how to avoid snatching defeat from the jaws of victory. [Click here to watch it now.]( Empathy + 2 Laptops = $2 Million A Month “Don’t waste time trying to beat the Facebook algorithm. Facebook doesn’t sell for you. If your product and advert are great, people will buy from you.” There are tons of stories of founders who built a product to satisfy their own needs—then turned it into a business. Why? Empathy. When you build a product or service you need, you completely understand the customer’s pain and experience. According to Snag Tights founders Brie Read and Tom Martin, that [empathy is the key to building a successful business.]( Founder and former Chief Customer Officer Tom Fairey talked with Brie and Tom about the importance of empathizing with customers on his podcast, Back Yourself. The episode covers a lot—from social media best practices to working on your own terms and, crucially, the power of empathy. Related: [Transparency is the key to success]( Turn Accounting Into An Asset [Sponsored] Okay, so accounting probably hasn’t ever been cool, but we like to think we’re a little bit different from every accounting firm you’ve ever worked with. We love data. But we don’t love all data. We operate under the philosophy that with good data, you can make good business decisions. We love working. But we don’t love following a typical 9-5 in a stuffy office with fluorescent lighting. Instead, we’re a flexible, remote team meaning we can work with you no matter what time zone you’re in or what time you need your accounting done. And we love accounting. But we don’t just love crunching numbers and balancing books, but instead, we love partnering with other companies to reach their mission. [Get your free month]( of digital services and see how accounting can really be one of the coolest components of your business. Are You Burned Out? “As a full-time entrepreneur running multiple businesses, I’ve experienced burnout more than a few times—at both the peaks of my successes and in the deep, desolate valleys of my failures. It doesn’t matter which stage you’re at; burnout sucks either way.” There’s something we don’t talk about enough in the entrepreneurial world: burnout. Even when you work for yourself—building a company you love around a product or service you’re passionate about—burnout still happens. Recognizing when you’re facing founder burnout is the first step, according to entrepreneur and consultant Rachel Greenberg. In this 8-minute read, Rachel breaks down the [6 rarely discussed signs of entrepreneurial burnout.]( Plus, she ends with a note on how you can turn burnout into a positive growth opportunity—both for yourself and your business. Related: [5 clear signs you need an executive assistant]( Who’s Your Real Ideal Customer? “80% of the purchases made in your business come from about ~20% of your customer base. If you pull one thing from this article, it should be that statement.” Who is your customer? It’s one of the first questions founders have to answer. Well before you seek funding or think about scaling, you need to know who your target customers are. The thing is, many founders have a pretty basic answer to that question. But specificity is the real key to great, scalable product-market fit. In this article, our own Scalable Co-Founder and CEO, Ryan Deiss, breaks down [how to find your real ideal customers]( kind of people who drive 80% of your business and will help you scale in a sustainable way. Related: [Build a marketing stack that will actually scale]( One Last Thing... What concrete steps will you take to better empathize with yourself and your customers? - The Scalable Team --- We hope you enjoyed this week’s issue. If you did, could you do us a favor and share it with 3 friends and colleagues? It would mean the world to us. Thanks. :) Share The Memo Step 1: Click the button below Step 2: Share the Memo with friends Step 3: Earn Rewards Refer 3 friends and get listed on our site as a "Founding Subscriber," plus some mystery gifts we know you'll love... :) [Share The Memo]( Or copy & paste your referral link to share directly with others: What is The Memo (a.k.a. the thing you’re reading right now)? Every week, my partners and I send an email memo to our internal executive leaders (the people running our companies) sharing news and insights we believe they should know. Sometimes it's an interesting article...sometimes it's a new thought or idea...but it's always something timely, tactical, and actionable. Now, you can get the same memo... and you don't even have to sell us your company. 🙂 What is The Scalable Company? The Scalable Company is a collective of founders and entrepreneurs who have no idea what they’re doing, and are willing to admit it. You can read our “Accidental Entrepreneur Manifesto” [here]( and peruse our internal “wiki” of resources and best practices [here](.  Sent to: {EMAIL} The Scalable Company, 4330 Gaines Ranch Loop, Ste 120, Austin, Texas 78735, United States Don't want future emails? [Unsubscribe](