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Startup advice from Justin Kan, Stephanie Hulburt, and Naval

Which is better: B2C or B2B? When should you walk away from a sale? How do you make difficult decisions?

Updated on August 15
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Key Smash Notes In This Episode

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Facebook, Twitter, YouTube are all B2C. Possibly, you don’t hear much about B2B success because they are purchased behind the scenes. Shopify is a popular B2B app.

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To reach success with a B2C you have to ride a massive way. This means that it requires more than building a company, but you also have to be lucky. B2B is in your control, and you can ask businesses what their problems are for you to target how to solve them.

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A B2B sets a more attainable rate of success because the problems are known and are easily controlled. You have a clear execution path when attracting other businesses. You can charge money for things without needing a massive wave of growth.

When it comes to B2C it's more difficult because you need a massive user base. Getting to that point requires huge amounts of funding, debt, and the need to find a way to crawl out of the hole.

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For one host, he remembers Netflix having a lack of quality shows to choose from. Also, there was a lack of quality in Netflix’s streaming at the time. What drew him in was actually Dora the Explorer, because it was cheaper on Netflix than purchasing individual episodes on iTunes.

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Hurlburt is an entrepreneur, founder of Binomial, and does image compression for VR and games.

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Just move on. This also applies in sales whenever someone is not convinced by what you have to offer. You shouldn't hang on and try to convince one person. It may be tempting for yourself, but not good for business.

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When it comes to something new or similar to what you're using, you should ask, what makes it better?

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You should choose the path that is more painful in the short-term. Pain avoidance creates an illusion of quality. When making a decision and you can’t decide, the answer is no.

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Think and make decisions. Everything else, such as the execution, you don’t get graded on by others.

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Either hard conversations equal an easy life. Easy conversations equal a hard life. It’s only a short-term benefit because it’s easier to avoid those hard conversations and save them for the future to come across them again.

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