{"id":12438,"date":"2024-07-13T08:40:00","date_gmt":"2024-07-13T08:40:00","guid":{"rendered":"https:\/\/imsfund.com\/?p=12438"},"modified":"2024-07-13T08:40:00","modified_gmt":"2024-07-13T08:40:00","slug":"how-to-start-a-business-this-weekend-appsumo-ceo-noah-kagan","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2024\/07\/13\/how-to-start-a-business-this-weekend-appsumo-ceo-noah-kagan\/","title":{"rendered":"How to Start a Business This Weekend: AppSumo CEO Noah Kagan"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><a href=\"https:\/\/www.entrepreneur.com\/starting-a-business\/the-author-of-million-dollar-weekend-says-this-is-the\/472705\">Noah Kagan<\/a> shared how he started <a href=\"https:\/\/www.entrepreneur.com\/living\/the-right-business-app-can-save-you-time-buying-it-on\/344530\">AppSumo<\/a>, a &#8220;Groupon for software,&#8221; in one weekend in a new <a href=\"https:\/\/www.entrepreneur.com\/business-news\/how-to-start-a-successful-podcast-side-hustle-new-analysis\/474847\">podcast<\/a> episode. The startup cost was $60; AppSumo earned $80 million last year and Kagan is still its CEO.<\/p>\n<p>In 2010, Kagan was 28 years old and had already experienced what it was like to be the 30th employee at Facebook and the fourth employee at personal finance app Mint.<\/p>\n<p>&#8220;I think I just felt insecure at some of these places,&#8221; Kagan told fellow entrepreneur Jeff Berman in a June episode of the &#8220;<a href=\"https:\/\/mastersofscale.com\/you-could-start-a-company-this-weekend\/\">Masters of Scale<\/a>&#8221; podcast.<\/p>\n<p><div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe loading=\"lazy\" title=\"Noah Kagan: How to start a business today | Masters of Scale\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/d9Sv4fy1c8s?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/p>\n<p>Kagan was fired after nine months at Facebook by <a href=\"https:\/\/www.entrepreneur.com\/business-news\/mark-zuckerberg-upcoming-meta-gadget-made-testers-giddy\/476845\">Mark Zuckerberg<\/a> and later fired from Mint, too. He realized that dedicating his time to his day job carried a risk \u2014 another person could decide to let him go at any time.<\/p>\n<p><b>Related: <\/b><a href=\"https:\/\/www.entrepreneur.com\/starting-a-business\/the-author-of-million-dollar-weekend-says-this-is-the\/472705\"><b>The Author of &#8216;Million Dollar Weekend&#8217; Says This Is the Only Difference Between You and the Many &#8216;Very, Very Dumb People&#8217; Making a Lot of Money<\/b><\/a><\/p>\n<p>&#8220;I think I wanted to prove that I&#8217;m smart or prove that I&#8217;m successful or prove that Facebook when they fired me, and then when Mint fired me, [that] I can do it,&#8221; Kagan said.<\/p>\n<p>The idea for AppSumo, a marketplace of software deals for small business owners or <a href=\"https:\/\/www.entrepreneur.com\/growing-a-business\/5-ways-solopreneurs-can-scale-their-business-through\/473748\">solopreneurs<\/a>, was born when Kagan thought there was a way to promote software tools and also get paid for it. He saw that the site MacHeist gave <a href=\"https:\/\/www.entrepreneur.com\/business-news\/apple-likely-rolling-out-best-siri-ai-features-in-2025\/476773\">Apple<\/a> users discounts on software bundles and wanted to try making the same type of discounts available to a broader audience.<\/p>\n<p>&#8220;My interest was letting the geniuses create software, and my skill and my excitement is promotion,&#8221; Kagain said.<\/p>\n<p>The business came together in about 60 hours. First, Kagan found software he wanted to sell: the image-sharing service Imgur. He cold-emailed Imgur&#8217;s founder on Reddit and got approval to sell a discounted version in exchange for a cut of sales.<\/p>\n<p><b>Related: <\/b><a href=\"https:\/\/www.entrepreneur.com\/business-news\/alexis-ohanian-reddit-turned-down-googles-offer-to-buy-it\/473399\"><b>Here&#8217;s Why Reddit Turned Down an Acquisition Offer From Google in Its Early Days, According to Cofounder Alexis Ohanian<\/b><\/a><\/p>\n<p>The next piece was meeting with Reddit&#8217;s founding engineer to ask for free advertising. He got that too.<\/p>\n<p>The final part was paying a developer to create a website with a PayPal button and purchasing the AppSumo.com <a href=\"https:\/\/www.entrepreneur.com\/starting-a-business\/why-i-spent-15-million-on-our-domain\/288629\">domain<\/a> name.<\/p>\n<p>What was the total cost to launch the business? $60 and one weekend of his time.<\/p>\n<p>AppSumo made $300,000 in the first year, and $3 million in the second, Kagan said in the podcast. It brought in $80 million in revenue last year.<\/p>\n<p>Kagan now has a net worth of <a href=\"https:\/\/www.cnbc.com\/2024\/01\/25\/living-on-3point3-million-a-year-in-austin-and-barcelona.html\">$36 million<\/a>.<\/p>\n<p>Kagan said that the crucial part of business was being invested in the problem and getting excited about it.<\/p>\n<p><b>Related: <\/b><a href=\"https:\/\/www.entrepreneur.com\/starting-a-business\/a-flexible-side-hustle-might-be-more-attractive-than-a-9-5\/472222\"><b>This Flexible Side Hustle Is Helping Millions Earn Extra Cash \u2014 and Might Be &#8216;More Attractive&#8217; Than an Office Job<\/b><\/a><\/p>\n<p>&#8220;I think that&#8217;s the thing in business people are kind of missing out,&#8221; Kagan said. &#8220;They&#8217;re chasing AI now or chasing being an influencer. I think find areas [where] you&#8217;re like, I don&#8217;t know if I&#8217;m going to ever get tired of this.&#8221;<\/p>\n<p>Starting a <a href=\"https:\/\/www.entrepreneur.com\/starting-a-business\/this-27-year-olds-side-hustle-now-earns-over-500k-a-month\/476615\">side hustle<\/a> or finding an extra source of income has an upside \u2014 according to Kagan, you have more control over your future.<\/p>\n<p>&#8220;If you can just give up 30 minutes a week, if you can just give up one Netflix show a week, if you can give up one thing a week, and you keep doing it weekly, eventually you can have that business,&#8221; he said.<\/p>\n<p><b>Related: <\/b><a href=\"https:\/\/www.entrepreneur.com\/business-news\/how-to-start-a-successful-podcast-side-hustle-new-analysis\/474847\"><b>This Is the Winning Formula for Starting a Successful Podcast, According to a New Analysis<\/b><\/a><\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.entrepreneur.com\/business-news\/how-to-start-a-business-this-weekend-appsumo-ceo-noah-kagan\/477040\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Noah Kagan shared how he started AppSumo, a &#8220;Groupon for software,&#8221; in one weekend in a new podcast episode. The startup cost was $60; AppSumo earned $80 million last year and Kagan is still its CEO. In 2010, Kagan was 28 years old and had already experienced what it was like to be the 30th [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":12439,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/assets.entrepreneur.com\/content\/3x2\/2000\/1720816418-NoahKagan.jpg?format=pjeg&auto=webp","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-12438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/12438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=12438"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/12438\/revisions"}],"predecessor-version":[{"id":12440,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/12438\/revisions\/12440"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/12439"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=12438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=12438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=12438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}