Introduction
Ryan: Welcome to another episode of the AiFounders podcast. Our show celebrates the accomplishments of AI innovators and entrepreneurs, sharing the inspiring stories behind their groundbreaking work. I’m your host, Ryan Davies, and today we’re exploring the world of AI, from building brands to podcasting, with our special guest, Louis Shulman. Thank you for being here.
Louis: Thanks for having me. I’m excited to dive in.
Ryan: Louis, you’re the co-founder of Orbit Metrics, a company specializing in data analytics and AI consulting. You’re also the co-host of the Louis and Kyle Show, an interview podcast that delves into entrepreneurship and investing. We’re excited to chat about all of this during our episode. Can you please share more about your background and your passion for the world of AI?
Louis: Certainly, your introduction was quite comprehensive. I appreciate the research and effort you put into it. I’m involved in several digital services businesses within the realm of data analytics and AI. These businesses range from completely automated services, like InstantChapters.com, to high-touch services, where we assist businesses in building complex AI projects or transforming their data infrastructure. We’re even launching a service where we help people produce weekly newsletters with AI assistance. I’m constantly exploring the possibilities offered by technology. The podcast is a fun way for me to learn and connect with various people related to these projects.
Ryan: You’ve touched upon various ventures, and our audience includes AI founders at different stages of their journeys. Whether they’re just starting or have a few projects under their belt, could you provide insights into how you come up with ideas for these ventures? How do you initiate the ideation process and bring these ideas to life?
Louis: Ideas often come about in deliberate ways. I’ll sit down with a whiteboard and ask questions like, “What new capabilities are emerging? What problems do people have that these capabilities can solve?” Maintaining a personal inventory of why people pay for services is essential. People often pay for speed, convenience, and quality. For instance, I hosted a podcast and paid for people to create chapters for me. This led me to think about how I could use AI to make this process more efficient and convenient. It’s important to understand what problems you can solve, where you can add value, or help people make or save money. You can build a catalogue of potential opportunities by examining what you spend your money on and why. This approach allows you to prepare your mind to recognize opportunities that might not be immediately obvious.
Ryan: You’ve mentioned some crucial factors for idea generation and innovation. As you deliberate on ideas, how do you prioritize them, especially when you have many concepts to choose from? Additionally, networking and collaboration play a vital role in bringing these ideas to life. How important is it to connect with people who can complement your skills and help execute these ideas?
Louis: Prioritizing ideas is a matter of evaluating which ones align with your capabilities and resources and have the potential to address real problems. The key is to understand where you can add value, solve problems, or help people save or make money. Once you’ve identified promising ideas, having a network of people with diverse skills becomes essential. It’s unlikely that you can excel in every aspect of bringing an idea to fruition. Collaborating with those who have the skills you lack can be a game-changer. Networking allows you to tap into the expertise of others, whether in marketing, technical execution, or any other area where you might need support. Building a team of people who complement your skills can significantly increase your chances of success. I love it. It was when I had first made the concrete decision to be an entrepreneur that was a pivotal moment for me. I was like, “I want to be an entrepreneur. I’m going to be an entrepreneur.” I was wondering if it would happen immediately after graduation, but I knew it would be the overarching theme of my career. I recognized that there were both good and bad paths in entrepreneurship. There’s no one-size-fits-all approach, as everyone has unique advantages, such as existing relationships and skills.
There are also strong arguments for working a regular job before venturing into entrepreneurship, as it can prepare you for success. It’s important to accumulate skills and experiences that increase your likelihood of success over time. So, I started thinking about how to reverse engineer this process. What are the components required for a successful entrepreneurial journey? Having a broad skill set, including skills in building things, marketing, finding opportunities, and selling. Knowing people with these skills was also crucial for connecting the dots and making things happen.
I realized that randomly choosing a business idea and hoping it would work was an ill-informed strategy. Instead, I focused on activities that would benefit me in the future. This included saving money, building operational skills, and connecting with like-minded individuals. The podcast has been a significant part of this journey as well, helping me meet people and learn from various projects.
Business Ideas and Marketing Strategies
Ryan: It’s essential to accumulate skills and experiences that enhance your probability of achieving a successful outcome. Having starting capital can also be an advantage, as it provides more time to make your business work. It’s important to keep an open mind, see problems, and seize opportunities when they come your way.
Louis: Exactly, it’s about being prepared and recognizing the opportunities that may take time to be apparent.
Networking and Collaboration
Ryan: Louis, it’s clear that you have a wide range of interests and experiences in entrepreneurship. How do you prioritize your ideas and decide which ones to pursue? Additionally, networking and collaborating with people with complementary skills is crucial in turning these ideas into reality. Can you tell us more about your approach to prioritization and networking? Prioritizing ideas involves evaluating their alignment with your skills, resources, and the potential to address real problems. You need to understand where you can add value, solve problems, or help people save or make money. Networking is vital because you can only excel in some aspects of bringing an idea to fruition. Collaborating with people who have skills you lack can significantly increase your chances of success.
Initiating the Journey into Entrepreneurship
Louis: I love it. I think it was when I first made the concrete decision to be an entrepreneur. I was like, “I want to be an entrepreneur. I’m going to be an entrepreneur.” I wasn’t sure if that would happen immediately after graduation, but I knew it would be the overarching theme of my career. I realized that there were both good and bad paths in entrepreneurship. There’s no one-size-fits-all approach, as everyone has unique advantages, such as existing relationships and skills.There are also strong arguments for working a regular job before venturing into entrepreneurship, as it can prepare you for success. It’s important to accumulate skills and experiences that increase your likelihood of success over time. So, I started thinking about how to reverse engineer this process. What are the components required for a successful entrepreneurial journey? Having a broad skill set, including skills in building things, marketing, finding opportunities, and selling. Knowing people with these skills was also crucial for connecting the dots and making things happen. I realized that randomly choosing a business idea and hoping it would work was an ill-informed strategy. Instead, I focused on activities that would benefit me in the future. This included saving money, building operational skills, and connecting with like-minded individuals. The podcast has been a significant part of this journey as well, helping me meet people and learn from various projects.
Building a Brand Beyond Business
Ryan: No, I think that was great because we discussed how to network and build your brand beyond your business, which leads me to ask about your podcast. How did it come to fruition, and how has it helped your brand?
Louis: The podcast has played a significant role in building my brand. It now attracts inbound opportunities, with people reaching out to recommend excellent guests and open doors for me. It has become a valuable and established brand.
Regarding branding, I have a utilitarian view. I aim for simplicity and clarity in branding. Instant Chapters is an example of this approach, as it immediately tells you what the product is and what it does. The podcast, on the other hand, reflects the brand of Louis and Kyle, two individuals interested in learning and growth across a broad range of topics.
Ryan: Can you tell us more about the podcast and how it has helped your business and brand grow beyond just generating great ideas and marketing strategies?
Recognizing Real Problems
Louis: Certainly. There are two main ways I study the podcast’s impact. First, I focus on common principles and themes among high-performing individuals, regardless of their field. I examine what makes these individuals successful and fulfilled across various dimensions. Second, I look for random good ideas from the podcast episodes that I can apply. One key principle I’ve learned is that most entrepreneurs who grow their businesses quickly have solved real problems they’ve personally faced. They didn’t invent problems; they addressed existing ones. Solving real problems results in happier entrepreneurs and more successful businesses.
I’m less interested in financial success at the cost of everything else. I want balance and fulfilment in my life and career. So, I seek business ideas where I don’t need to convince people that a problem exists and that my solution is valuable. I aim for solutions that speak for themselves because the problem is already something people relate to, and the solution is obvious. This reduces the need for complex sales and transactions.
Ryan: I love that. It’s something that any founder is listening to who’s searching for a path, trying to figure out where they may have stumbled or what their next critical step should be. Convincing people to change their minds in today’s society is incredibly challenging. Everyone seems to have their opinions firmly set, and they’re not willing to budge. So, if you can present them with a solution, something that meets their needs without the need for persuasion, you’ve essentially unlocked the key to success.
Louis: Exactly. And it can be done. It’s not the only approach, but I’ve found it to be more manageable, and I’m not feeling constrained by not pursuing a different strategy right now.
Ryan: Absolutely. So, let’s dive into a more specific area. Regarding AI tools, one major mistake I see people make is underestimating the importance of offering a clear solution. For example, I was considering signing up for a tool today that helps with creating ads. However, when they asked for my credit card information, I backed out. I didn’t feel certain that this tool could provide me with the right ad creative, which is highly subjective. I needed more confidence that the tool would yield success. Many people create broad tools that lack resonance with their audience because they don’t offer a clear solution to a specific problem. If you, instead, say, “I help B2B service providers create Facebook ads that book meetings,” it instantly resonates and provides value, making users think, “This solution matches my needs.”
Louis: Yes, that’s spot on. Identifying a niche or target market is crucial. It’s about simplifying your focus and offering a solution that speaks directly to a specific audience.
Recognizing Strengths and Identifying Solutions
Ryan: Your ability to recognize your strengths, areas of opportunity, and challenges is quite impressive. How did you develop this skill? Could you share some insights into how you assess your strengths and weaknesses and identify solutions without getting bogged down in the details?
Louis: I believe it’s a blessing I’ve been given, and while I’m not perfect at it, I’m proficient at acknowledging truths and taking action based on them. I don’t ignore problems or wish for reality to be different. I aim to be a realist and work with the current situation. I’ve also learned a lot from my podcast guests, who obsessively seek to establish root truths and operate based on them. Some key principles I follow include the importance of addressing a well-established problem and not competing with giants unless you have a genuine advantage.
Ryan: Everyone seems to want that “David vs. Goliath” success story, where the little guy takes down the giants. However, as you mentioned, it’s the exception rather than the rule. In reality, if you don’t have a clear advantage over your competition, it’s better not to compete at all.
Louis: That’s right. If you have a real advantage, you can disrupt a big industry. However, make sure you have that advantage before you attempt to take on the giants.
Ryan: Indeed, striving for greatness is fantastic, but don’t attempt it if you’re not well-prepared. Hope is not a strategy. Instead, simplify your focus, aim to deliver an effective solution, and acknowledge that some rules are unchangeable.
Louis: I couldn’t agree more. I have learned that the hard way, and it’s crucial to respect the rules that govern your industry.
Ryan: It’s essential to embrace reality and work within its constraints. Thank you for sharing these insights. Now, let’s talk more about where our listeners can find you and your podcast.
Louis: You can find our podcast, “The Louis and Kyle Show,” on YouTube, Apple Podcasts, Spotify, Google Podcasts, and many other platforms. You can also visit instantchapters.com. Feel free to connect with me on LinkedIn and Twitter. I respond to messages and enjoy engaging with my audience.
Ryan: Listeners, take advantage of this opportunity. Louis Shulman’s podcast offers valuable insights, and he’s more than willing to connect and share his expertise. Louis, thank you for joining us today.
Louis: Thank you, Ryan. It’s been a pleasure.
Ryan: To our listeners, thank you for tuning in. We hope you’ve been inspired by the amazing stories shared today. Keep exploring the endless possibilities of AI, and remember that pioneers like Louis Shulman are shaping the future. Stay curious, stay innovative, and keep pushing the boundaries of technology. If you enjoyed our podcast, please consider supporting us. It helps us bring more valuable content and guests like Louis to you each week. Louis, thank you once again for your time. Take care, everyone.