Derric Haynie tells us about how his professional poker career has helped his business, building communities before products, and destroying risk aversion.
Today’s guest, Derric Haynie, is a serial entrepreneur, ex-poker player of 10 years, and self-described expert decision maker. He is CEO and co-founder of Splash Online Presence Management and Splash U, a community of community builders.
After leaving the poker scene in early 2015, he’s been dedicated to helping entrepreneurs at the very start of their journey. He speaks and writes about growth marketing and the power of building a community.
Derric is truly a serial entrepreneur. He started his first business at 9: he mowed lawns for $5 a house, until convincing his neighbor to mow the lawn for $2.50. Parental regulation shut down this venture, but the entrepreneurial spirit didn’t die there. Derric takes us through his whole story: from lawn mower to poker player to startup co-founder.
Derric is currently writing a book, “Play Your Business Like a Poker Player,” which will relate the unique experience of poker-players-turned-business-owners. “I think the biggest thing that you take away from it is the ability to assess risk properly,” says Derric.
“Destroy risk aversion,” Derric urges. Risk aversion is an inherent human characteristic, but, in business and modern day life, taking the appropriate risk-reward calculation can reward you a lot more than being safe. You need to be okay with variance in your outcome as well.
We’re going to learn how Derric assess risk, lives as a life-long learner, builds communities, and applies his experience as a professional poker player.
In this episode, you’ll learn from Derric:
- a little about professional poker
- how government regulation affects growing tech markets
- skills to assess simple and advanced risk-reward business scenarios
- how poker relates to risk assessment and growth marketing
- the importance of being a life-long learner
- about growth marketing through community building
- why Splash U believes there is a flaw in the lean startup methodology – startups should begin with a minimal viable community to kickstart a stronger build, measure learn feedback loop that is actually customer-driven.
- his process for measuring community growth
- that you never get a customer for free
- why discounts don’t translate to loyal customers
- how Splash is validating their upcoming products
- his plans for the future of San Diego’s startup community
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Resources mentioned in this episode:
- Splash Online Presence Management
- Splash U
- Content, Inc by Joe Pulizzi
- Tribes by Seth Godin
- Google Hangout
- San Diego Digital Marketing Experts
- Google Calendar
Answers to Quickfire Q&A:
- If you could chat with anyone, dead or alive, who would it be and why?
- Elon Musk, because he’s an interesting person, but maybe that’s just someone I look up to… Since this is a hypothetical question, I’d rather talk to someone from the future.
- Name a tool, app, or website that you can’t live without and why.
- “Google Calendar I use religiously,” and that includes Google Reminders.
- Tell us something unique and interesting about you that not many may know.
- I do not say, “Have a good one,” or a lot of idioms. I don’t say, “Bless you.” I think about why people say these things and I question a lot of those things.
- What are the top three skills or characteristics that you look for in people you work with?
- Skepticism – people should question everything
- Ambition or hustle – you really need to be a hustler to get things done. “Whatever it is, follow through on what you’re doing.”
- What is something you believe, but few others agree with you?
- “I thought it was that we should be building communities long before we write one line of code,” but there are believers in this podcast.
How to contact Derric:
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