Welcome to Money Making Story,

Today, we’re thrilled to share the story of Adam Robinson, who transformed his career from a former Wall Street trader to a thriving startup founder, building a $20 million business.

In this discussion, we’ll discuss his:

• Background

• The Challenge

• The Turning Point

• Develop your Skills

• Results

• Key Takeaways

• A Story Worth Reading

Top Advice from Adam:

“Keep experimenting, keep honing your skills, keep getting better. Being stuck is just part of the journey—keep throwing spaghetti against the wall and keep rolling the dice.”

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Adam’s path from Wall Street trader to successful startup founder wasn’t straightforward. His story is one of resilience, resourcefulness, and persistence, demonstrating the power of staying focused and maximizing opportunities, even in the face of failure. Today, his company brings in over $20 million in annual revenue, but the road to get there was anything but easy.

Background: Trading Stocks to Building Startups

Adam’s journey to entrepreneurship began after a decade as a Wall Street trader at Lehman Brothers. Though lucrative, Adam found the work uninspiring and lacking creativity. The turning point came when he was let go from his finance job during a contracting market, leaving him without clear prospects. Inspired by his former roommates, who had started Vimeo, Adam decided to take a chance on entrepreneurship.

Despite having no coding experience, Adam began experimenting with startup ideas, launching his first company in 2014. His initial projects were far from perfect, often struggling to gain traction. Yet, Adam pressed on, driven by a simple goal: to build something impactful.

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The Challenge: Rising from Setbacks and Near Burnout

Starting his first company wasn’t easy. Adam faced financial strain as he poured his savings into building a product that ultimately didn’t resonate with customers. He recalls countless nights of doubt and moments of feeling defeated as he realized the product lacked the “$100 million offer” appeal—a compelling market fit that makes any product successful.

By 2018, after years of experimentation and failure, Adam had hit a rock bottom moment. He had invested heavily in a revamped product, but after launching it at a trade show, he was met with blank stares and minimal interest. “I spent a million dollars on salaries making this thing,” Adam said. “No one cared. It was a waste of time.” Frustrated, Adam knew he needed a different approach.

The Turning Point: Embracing Lean Startup Tactics

Learning from these hard-earned lessons, Adam decided to adopt a lean approach. His goal was to create a simple, effective product with minimal resources, testing market interest before investing in full development. This time, Adam focused on a concept for Retention, a platform helping businesses capture leads from anonymous website visitors.

• Bootstrapped Budget: Adam spent just $5,000 on Facebook ads and launched an MVP built in eight weeks. By November, Retention.com had achieved $10,000 in monthly recurring revenue.

• Rapid Validation: To create initial marketing content, Adam used upwork for affordable video animations, recorded the script on his iPhone, and edited the ad on a minimal budget. The result? A simple but powerful ad that captured customer interest.

• Testing the Market: Adam relied on customer feedback to iterate on his product. Instead of building in isolation, he incorporated insights directly from users, ensuring the product addressed real needs.

Develop your Skills

Results: A Multi-Million Dollar Success Story

This lean, customer-focused approach paid off, turning Retention.com into a $20 million annual revenue company. Here’s how Adam achieved this milestone:

• Revenue Milestone: Within just 16 weeks, Retention.com had generated its first $1 million in revenue.

• Efficient Scaling: By maintaining low operational costs and focusing on what worked, Adam scaled Retention.com rapidly. Sales were managed through Google Sheets until the company reached $10 million ARR—a testament to staying lean.

• Unmatched Product-Market Fit: Adam’s approach centered on finding a compelling product-market fit. He emphasizes, “If you have that core offer, anything you do will work. Without it, nothing you do will.”

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Key Takeaways for Aspiring Entrepreneurs

Adam’s journey offers valuable lessons for anyone looking to start a business or scale a startup:

• Validate Before You Build: Adam stresses the importance of market validation. Instead of assuming his product would resonate, he learned to confirm demand through minimal viable offerings. “Talk to customers before you build, and ensure your product has that punch-in-the-face appeal.”

• Stay Scrappy: Adam’s team used free tools like Google Sheets to manage sales until scaling demanded more sophisticated systems. His motto? “Spend as little as possible, and operate with as few tools as you can.”

• Focus on One Thing: Adam advises entrepreneurs to avoid juggling multiple projects. “If you can focus on one thing, that’s a true gift. Elon might be able to focus on a few things, but for most of us, one focus is key.”

Learn More About Adam Robinson

A Story Worth Reading

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