Brian and Matt had a simple idea of enabling anyone to search for family history across centuries. Initially they did not have this idea, but through user feedback they found this idea.
They sold this company for $90+ million.
What you could learn from this episode:
- How they got their idea after a devastating event in their life.
- What he learnt from his first business failure.
- How Warren Buffet’s advice helped him to figure out how to look for business ideas.
- The decision to “fail” more to figure out which business would work.
- How they validated if an idea will work.
- How they figured out a winning idea.
- How they decided on a radically different pricing model.
- How they built a moat to ward off competition.
