Given that it’s been a little while since we last posted, it seems best to just cover some general generalities. What’s new? What are we chatting about? What are we thinking about? What are we up to? So…here we go…
The economy
It’s anybody’s guess, really. But we have a saying around here and that’s… “It’s never as bad as it seems, and it’s never as good as it seems.” People tend to forget that in every area of their lives, and they aren’t immune to it when they invest, buy things, and run companies. So while we can’t fully go into our thoughts about the economy because of some of our constraints as a Regulation A+ company, we will just say… “It’s never as bad as it seems, and it’s never as good as it seems.”
The jobs market
Again, it’s never as bad as it seems, and it is never as good as it seems. However, we do believe one very important thing — the jobs market has fundamentally changed, and we think it’ll be a while before people fully understand this. We just don’t believe the last couple of years has been a “pause before people get back to work in the traditional way”. That’s why we are so bullish on not just the opportunity…but also the necessity…for Growth Collective, the fractional marketing platform that’s part of Legion. We recently launched an updated platform for this and are excited that people are starting to learn more about what Growth Collective is doing.
Marketing in 2024
Marketing is changing faster than it ever has, and we don’t believe that’s going to slow down in 2024. More channels to test. Some channels that were working are no longer working. AI has a seat at the table, but nobody knows if it will just be another tool or whether it will upend huge swaths of how marketing is done. But one thing we do know is that marketing is more data-driven and more scientific than ever, but that doesn’t mean you can’t lose the art of it. And while there are all sorts of marketing tools and tricks, the best tool and trick is to build something people want and then build real relationships with those people.
Startup funding
2023 has been a crazy ride for most start-ups, and raising funding to fuel further growth has become difficult for most. Much of the traditional Venture Capital flow has gone shy exactly when companies need them the most and when we believe VCs have a tremendous opportunity to buy into companies at discounted prices. Debt to run a business has gotten way more expensive just like debt for just about everything else has. And while crowdfunding seemed to have some nice glimmers in 2023 and we’re overall bullish, crowdfunding is not immune to macro market forces.
Community is more important than ever
We think one of the biggest things the last few years has taught us is that community is more important than ever. We all want to feel a part of something. We all want to feel connected to others and to do something worth doing. We all want to be supported and challenged and encouraged when things are going well and when things aren’t. And we all want to feel like we are part of something that is bigger than ourselves. That’s why we are working on a couple of new products within Legion. Mighty is all about bringing togethers fan communities with athletes and vice-versa. And Expedition is about building a community to help tech company leaders be able to move their companies forward while connecting with others that are doing the same.
Working hard is important
We are all working hard at Legion — in fact, we are working harder than ever.
When we look around, we see companies having a harder time raising capital, a harder time attracting customers, and a harder time keeping customers. When we look around, we see a lot of unknowns about 2024 and the economy and where inflation is headed. When we look around, we see people having to do more with less than just a few months ago or a couple of years ago. And that’s why we believe we need to keep reminding ourselves that just working hard is not enough. In whatever we do, we have to constantly be disciplined in working hard on the right things.
The power of habits
We are fans of James Clear’s blog and the power of habits. To get where we want to get, we have to have the right habits.
AI
We often get asked if we are working on AI. We think this is the wrong question. We don’t think you can be building a business today and not consider how AI can help (or disrupt) what you are doing. How can AI be used as a tool to do your existing work? How can AI be used as a means of doing something better or faster or cheaper? How can AI be used to make your products more useful and make it easier for our customers to solve problems? So, yes, we are considering AI in all that we do. We believe tech is not just an industry in itself…it’s every industry. And, we believe the same thing about AI…it is increasingly part of every industry. We recognize that AI is incredibly disruptive and will create a whole host of new opportunities and challenges, but we also hope we can all keep it in perspective.
Early stage companies are hard
Early stage companies have always been hard and they always will be. We could argue that it’s now harder than ever to grow an early stage company. We could argue that it’s now easier than ever to grow an early stage company. But we believe that the reality is probably somewhere in the middle.
Values
We recently refreshed our values at Legion. Like any organization, it is important that we be aligned as we push towards reaching our goals. You can see ours below:
One final general generality
There are two kinds of people — those with a fixed mindset and those with a growth mindset. And since companies are made up of people, that must also mean that there are two kinds of companies — those with a fixed mindset and those with a growth mindset. Ultimately, we think for people to reach the dreams and ambitions they have, they must have a growth mindset. And we believe the same thing about companies. We don’t know what 2024 will bring. We don’t know what the economy will do. We don’t know what new challenges will present themselves, and we also don’t know what opportunities will arise. But we do know that the only way we give ourselves the best chance of being successful is to have a growth mindset.
Onward and upward.
Note: This Article May Contain Forward-Looking Statements And Information Relating To, Among Other Things, Legion Works, Inc., Its Business Plan And Strategy, And Its Industry. These Forward-Looking Statements Are Based On The Beliefs Of, Assumptions Made By, And Information Currently Available To The Company’s Management. When Used In The Offering Materials and investor updates, The Words “Estimate,” “Project,” “Believe,” “Anticipate,” “Intend,” “Expect” And Similar Expressions Are Intended To Identify Forward-Looking Statements, Which Constitute Forward-Looking Statements. These Statements Reflect Management’s Current Views With Respect To Future Events And Are Subject To Risks And Uncertainties That Could Cause Legion Works, Inc.’s Actual Results To Differ Materially From Those Contained In The Forward-Looking Statements. Investors Are Cautioned Not To Place Undue Reliance On These Forward-Looking Statements, Which Speak Only As Of The Date On Which They Are Made. Legion Works, Inc. Does Not Undertake Any Obligation To Revise Or Update These Forward-Looking Statements To Reflect Events Or Circumstances After Such Date Or To Reflect The Occurrence Of Unanticipated Events.
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