Edge Newsletter #1 - Role of Social Media for Building Businesses

Welcome to the very first Edge Newsletter! Every Saturday I'll be sharing my best tools and resources as well as thoughts, which I hope will give you some value.

What I'm reading

Big Debt Crisis by Ray Dalio. In this day and age the challenge isn't access to information, but being able to filter the good from the bad. Few people are more qualified than Mr Ray Dalio who over his 50+ year career started one of the largest hedge funds on the planet from his bedroom. In this book Ray systemically delves into 48 case studies of market crashes (deleveragings), including the 2008 financial crisis and lays out the lessons and patterns that repeat. It will change the way you see global economics.

Resource of the Week

Hometrack reports are a resource I've been using for a while. As well as city growth metrics they provide rental and market reports. Free to sign up.

Quote

You only need to know the direction, not the destination. The direction is enough to make the next choice.

James Clear

Thoughts

Even though social media is something many of us interact with on a daily basis, I feel like it's not very well understood. The potential is immense, for those that are considering starting a side business. Creating content that compliments your business and building a relationship with your audience is something that must be at least considered. Every generation has unique opportunities and I believe this is one of those.

I've been starting (mostly failing) at starting businesses from a long as I can remember, but when it comes down to it, the crux ALWAYS boils down to one thing:

How do I get my first 100 customers?

Social media is a low barrier to entry option to that age old dilemma. If you take a step back and look at what it's capable of, isn't it a fascinating phoenomeon? Imagine telling someone 30 years ago, solo creators and even children in some cases, at home, can build a larger and more loyal following than multi billion corporations?

The trends show Gen Z and millennials are more discerning than ever who they buy from. Massively favouring brands they feel they can connect with, according to Forbes, 75% agree that personalisation is critical to a brand's longevity.

It's not without downsides. The permissionless aspect is a double edged sword, with no quality checks, disinformation is rife. This is why I believe providing value building trust is the only way to longevity.

It's still very early days for me as a creator. As an awkward introvert I didn't know what to expect when I sat down for the first time talking to a camera. But it's already given me the opportunity to make some fantastic connections.

I'm really glad to have you on board for the ride! Stick around as I plan to be here for a while!

(Thanks so much for reading. Just reply to this email with any feedback or questions).