How I made 100k during lockdown Entrepreneur

How I made 100k during lockdown
I made an animated summary of "The Millionaire Fastlane" by MJ Demarco. I hope this is useful to you.
How to get access to quality market analysis without paying so much $?
My Lessons From 9 Months Of Beta Tests
Do people purchase products that are trending?
Starting a small watch business - Give me your worst
Are reddit ads effective? Does it depend on the niche?
I’m running a start up company and need some advice on how to obtain funding!
Looking for a SaaS business coach
First online store
Thinking about mowing lawns on the weekend
How long should you keep on working on an idea before giving up and moving on?!
How important is a business card for an online business?
14 year old, needs help!
Brother and I want to start a business. Ideas on our thoughts?
Advice
Name one book that helped you make money
In need of Help with APP Architecture
My experience Hiring freelancers
What companies invest in building MVP’s ?
I'm in need of some advice!
So it's pretty much impossible to hide from other tech entrepreneurs
16 year old with lots of time.
Why terrible comedians make fortunes with jokes that aren't funny

Posted: 08 Nov 2020 01:32 AM PST

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I made an animated summary of "The Millionaire Fastlane" by MJ Demarco. I hope this is useful to you.

Posted: 07 Nov 2020 09:00 PM PST

Link to video: https://youtu.be/vrtjXONWVfA

I release new videos often, if you're interested in subscribing here's a link: https://www.youtube.com/channel/UCfbLDMh6uGOZePAfqqjVZ-g?sub_confirmation=1

If you'd prefer to read the script instead of watching the video, here it is:

The Millionaire Fastlane

Imagine it's 1940 you're 21 and you have £1,000 and you decide to invest it into a stock known as the S and P 500.

Fast forward to 2011 and that £1,000 of stocks would be worth £1.3million.

That's great right? Wrong!

This is slow lane thinking and although at first it seems intelligent there is a better way.

In this video I will teach you the much better way of gaining wealth quickly, the ideas come from the book The Millionaire Fastlane by MJ Demarco.

People get excited about figures like this but choose to ignore the fact that in 2011 yes you'd have £1.3million but you'd also be 91 years old.

Trying to get wealthy like this is simply far too slow.

People hear quotes like this from financial advisors, often they don't know what the advisors are talking about because they aren't actually wealthy themselves. This is like taking nutrition advice from someone who is obese.

Only listen to people who have achieved what you want to achieve.

This book explains how to become a millionaire fast, written by a millionaire who has been there and done it.

There are 3 lanes.

The sidewalk

The slow lane

The fast lane

Obviously you want to be in the fast lane. How do you do that?

Understand the lanes The sidewalk - people in this lane take no interest in their financial future, invest nothing, live day to day and accumulate no wealth.

The slow lane - people in this lane are likely to put there money into low risk investments that will take a long time to make profit like in the example at the start.

The fast lane - people in this lane become millionaires before the age of 35. I strongly believe you can become a millionaire within 3 years of properly taking time to learn about self improvement. This lane makes their money from something called the law of affection this law holds the key to accumulating wealth.

Get in the fast lane and believe that you can become wealthy fast.

What is the law of affection?

You may have heard of the law of attraction, this is something different.

The law of affection says that the more people you affect in a positive way the more wealth you will receive in return.

Here's an example

You'll have heard people saying things like "it's ridiculous that footballers get paid more than doctors, this is unfair and plane wrong."

The law of affection is the reason footballers get paid more than doctors.

Take Cristiano Ronaldo say he earns £365,000 a week. And a Doctor gets paid £1,000 a week.

Now to make things simple we will say people rate their happiness from 1 to 10.

So a doctor treats a patient

Before the treatment the patients rating is 3 out of 10, low due to their illness impacting their life.

After the doctor treats the patient and cures the illness the patients rating goes all the way up to 8 out of 10.

An increase of 5.

On average a GP treats 200 people a week and increases each person's happiness by 5 points.

That's a total of 1,000 points of value a week.

Now let's look at Ronaldo When fans watch Ronaldo play football their happiness level may only raise by 1 point out of 10 due to being entertained. So per person Ronaldo has less of an impact.

However Ronaldo play in front of crowds of 80,000 live and millions of people watching on tv or online.

So 1 million people's happiness level goes up by 1 point

Ronaldo creates 1 million points of value a week.

The amount of money you make is a reflection of the value you provide.

"try not to become a man of success but a man of value" -Einstein

To become a millionaire you must provide millions of pounds worth of value.

Become a person of value, the best way I feel you can do this is to improve yourself and your life and help others to do the same. Help others get what they want and you in turn will get what you want.

Warren Buffett has a net worth of 84 billion dollars and is considered the greatest investor of all time. He says that the best investment you can make is in yourself. Invest your time in learning and you will be able to answer the questions for yourself about exactly how to provide value.

I highly recommend audiobooks, you can learn so much from people who have achieved what you want to achieve.

I will put a link in the description where you can get an audiobook for free with a free trial of audible. Also you can buy audible credits which makes purchasing books around a third of the normal price. Or look on ebay for audible credits, sometimes they are really cheap.

As well as audiobooks.

Youtube is a fantastic place to learn how to become a person of value. Subscribe to this channel, it's what it's all about. I genuinely want to provide you with as much value as possible and change your life for the better.

Other channels that will help you are: project life mastery charisma on command improvement pill fightmediocrity practical psychology valuetainment.

Learn as much as you can about gaining wealth, audiobooks are best.

Get in the fast lane, believe that you can become wealthy fast.
Become a person of value use the law of affection
Learn as much as you can about gaining wealth

I hope that was useful. Have a great day!

I release new videos often, if you're interested in subscribing here's a link: https://www.youtube.com/channel/UCfbLDMh6uGOZePAfqqjVZ-g?sub_confirmation=1

I've made over 60 summaries of the best self improvement books, the links are below.

Full playlist of them all here: https://www.youtube.com/watch?v=dOImyOGN9UE&list=PLaNTB6oQAa0AYuul0tqUscg1ZLj_arZga

Here are the links:

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How to get access to quality market analysis without paying so much $?

Posted: 08 Nov 2020 12:06 PM PST

I am launching a candy company and have been trying to conduct market research but all of the in-depth reports I come across (made by companies like 360 Research Reports, Grand View Research etc..) are ~$3000K-4000K for a license. I requested a free sample from one of the sites but 99% of the information was left out (obviously). What is the best way to get quality market analysis without having to pay so much money? Is there a way to get a single report without paying for the entire license?

Any advice greatly appreciated!

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My Lessons From 9 Months Of Beta Tests

Posted: 08 Nov 2020 05:30 AM PST

Over the past 9 months I carried out beta tests for my clients with over 1000 users. Here are my findings that can be implemented by new founders/bootstrapped products to carry out beta tests more efficiently. I'd also like to know some other findings from more experienced founders that I might not have covered here.

Understand most obvious issues with the product's interface and usability by contacting people from the audience and having direct chat. Often things that we can learn in a 15 minutes chat can take 15 weeks to learn by looking at metrics alone during beta tests.
Features and pricing- have a generous trial period and include most critical features in your trial. Track usage of those features to understand if they are really valued by your users. If you have a trial, make sure you inform people well (very prominently), how much they have to pay after the trial is over.
Reduce friction- privacy related concerns, page load time/performance, set up and maintenance, cancellation and making a transition from another product to this product are some considerations you should address well to reduce the friction.
Readiness to measure critical metrics- this is the most underrated point IMO. We often rely on Google Analytics only to discover later that it's neither the tool with most critical info nor the most accurate results to measure what we need to measure. Having a clear expectation before starting the test can help us save a lot of effort.
Setting right user expectation- never over-sell the product while inviting users for a beta test. I'd rather under-sell it and exceed user's expectations.
Stress-testing- I've seen so many times that lack of stress test leads to trouble at a later stage and yet many seasoned PMs cut it short at the last minute due to various reasons.
Compatibility-Is the product compatible with most commonly used browsers and devices out there.

Here is the actual post if you'd like to see further details

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Do people purchase products that are trending?

Posted: 08 Nov 2020 01:54 PM PST

I always like to know if this is just me but do customers prefer purchasing products that are trending? Or is it just me?

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Starting a small watch business - Give me your worst

Posted: 08 Nov 2020 01:38 PM PST

Hi r/Entrepreneur, ive been a lucker for long, but finally coming out of the shell...

Ive made a small business with my website: Soltago.com where i sell watches, ive secured a supply chain and im currently doing some social media marketing, but i would like some feedback on my website:

What are your initial thought whenever you enter the site?
Does the site seem well designed or does it have flaws?
Pretend you were looking to buy a new watch, why would it/wouldnt it be from soltago?

Any other feedback u might have?

Please give me your all !

submitted by /u/MageJayzer
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Are reddit ads effective? Does it depend on the niche?

Posted: 08 Nov 2020 01:38 PM PST

Hey guys, I'm looking to try my luck with reddit ads. How effective are these? I make original music and I'm wondering if anyone has experience with the Reddit ads platform. Thanks 😊

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I’m running a start up company and need some advice on how to obtain funding!

Posted: 08 Nov 2020 01:19 PM PST

Me and a few highschool buddies have been working on a start up for a few months now and finally are almost finished with a prototype but are looking for ways to obtain funding, I've created a gofundme and Kickstarter page, and I'm probably not allowed to post them here but I would really love some advice on good places to post these or other ways to find some startup money!!

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Looking for a SaaS business coach

Posted: 08 Nov 2020 01:08 PM PST

I am looking for a business coach. If anyone in this group is a coach or knows someone who wants to mentor then I am looking for that person. I am self-funded and am technical. I've built https://storycreatorapp.com and believe there is serious potential here.

So far on my own, I have managed to make $16k since I started charging last April. The problem I am currently facing is my time is invested heavily in technical tasks to keep the app in the best possible condition as well as staying innovative. While I am a firm believer that is necessary, I am looking to game plan with someone weekly to make sure each week is as effective as possible for growth.

This person would call me out on my BS and work with me to create actionable game plans and call me out if I don't follow through.

Metrics

Customers: 89 total customers 20 monthly subscriptions $13.6k from lifetime deals $3k in total recurring revenue since April 2020. On average since I started charging in April I've been pulling in about $2k per month if you take the total divided by the number of months.

Issues

I am not doing a good job of gaining traction and not doing a good job of getting the app out there (marketing). I have had a few moments of glory, some spikes which brought the bulk of revenue but it's not consistent. The best drivers for me have been Product Hunt https://www.producthunt.com/posts/story-creator-2?utm_source=badge-top-post-badge&utm_medium=badge&utm_souce=badge-story-creator-2 and Hacker News, plus some Tweets that gained some interest.

Goals

I want to hit $10k MRR by December. I am doing $400 MRR with 20 customers, so this means I need to sell the product to 480 people in one month. This means about 16 sales per day. I could also raise my price to $25 per month and go after 380 customers which is about 12 per day.

submitted by /u/storycreatormichael
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First online store

Posted: 08 Nov 2020 07:10 AM PST

Hi I have created my first online store and it would be great to get some feedback (good or bad). Last time it was a great help. Thank you

link

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Thinking about mowing lawns on the weekend

Posted: 08 Nov 2020 01:07 PM PST

Anyone have any luck with this? Thinking of throwing my mower in the truck and going door to door offering to mow lawns for $20. Any advice?

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How long should you keep on working on an idea before giving up and moving on?!

Posted: 08 Nov 2020 04:47 AM PST

In my last podcast interview with Robert Schrimpff, who has been the founder and CEO of 6 different companies in the energy sector, he gave me this advice and I thought it would be useful to share it here:

"You should do at least 3 iterations... and how long it takes depend on the sales cycle!

In business where the sales cycle is 3 months, you should know within a year. In business where the sales cycle is a year, and you have been doing it for two years, it is probably too soon to give up: you should allow at least 3 years. "

This is very crucial advice if you are raising funding for your startup, cause the amount of funding that you need to iterate will definitely depend on your sales cycle!

Who has some kind of experience to share with that kind of situation?

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How important is a business card for an online business?

Posted: 08 Nov 2020 11:51 AM PST

is the business card of high value?

or is it for customer to throw away?

what are your thoughts on business cards for online business?

submitted by /u/MissKittyHeart
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14 year old, needs help!

Posted: 08 Nov 2020 11:44 AM PST

Hello there I am the owner of Blmkingdom a black owned business and I was wondering if any of you ever ran Pinterest ads. If so do they work? Any strategies? What kind of pins would work? I own a clothing brand would it work for me?

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Brother and I want to start a business. Ideas on our thoughts?

Posted: 08 Nov 2020 11:12 AM PST

I pitched this idea to my brother just last night. I have been sitting idle without a job for a bit now due to quitting my job from depression and anxiety. I have been feeling a lot of shame although I still bring in revenue form my GI Bill and one other means. But I don't like being without a job. So I have been doing some research, although, not nearly enough. And I have come up with what I feel is a solid idea. I pitched to my brother to start a gutter cleaning business, especially now before all the trees are bare. To add onto this I saw that a lot of people suggest window cleaning and pressure washing. I looked into a bit and there doesn't seem to be a lot of upfront costs. We want to ask my other brother to join because he has a truck and he is also needing money while he gets through college. We are going to meet up next week to collab on ideas until we finally decide on one. I wanted to ask your guys' advice and see if there might be some things i'm missing or things i'm not considering. Thanks!

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Advice

Posted: 08 Nov 2020 10:59 AM PST

So I have a small room that has recently become available to me and I'd like to offer it to the community to use to do videos or live streams for their social media accounts. However I'm not sure if there is use for such a room? I guess I'm wondering if people that are on social media just use their own houses etc.. and there wouldn't be a need for an outside place for filming or live-streaming? I was going to invest money for whatever I needed for the room- I guess ring-lights and whatever else would be needed. Is there anything you can think of that would make this room useful that people don't already have? Thanks for your advice!!

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Name one book that helped you make money

Posted: 08 Nov 2020 10:36 AM PST

Like an advice that you applied and directly made money

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In need of Help with APP Architecture

Posted: 08 Nov 2020 10:09 AM PST

Hey Guys,

So currently I'm in flight school (Army). Before flight school and Covid I was working on a project, EssayEasy. I have no experience in coding besides the 2 weeks I attempted to learn before leaving to learn to fly. I'm not asking for a hand out or a coder to do all the work.

But what I'm looking/asking for is for someone to help me with the Architecture of the APP.

The Client portion of the APP

I'm looking to outsource the different components through Upwork and some freelancers, but I don't know what components are necessary to built and in what order.

If you think you can help or lead me in the right directions I'd be more than grateful. Also willing to compensate for time consulting.

So here's a little about the App , Web Flowchart , Notes.

Step-by-step (sentence-by-sentence) essay writing application.

The intent is to compete with Essay Writing services. To paint a picture it's like "Turbo Tax for Essays" or "Build Your own Adventure, Essay Edition." Fillable templates that as you fill, steps and suggestions appear to guild you through the essay.

All help and suggestions welcomed.

Joe.

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My experience Hiring freelancers

Posted: 08 Nov 2020 12:13 AM PST

I've hiring about 10 freelancers to do various work for me on Fiverr & Upwork and I have to say that I have had an absolutely terrible experience with Fiverr. Quality has consistently been low and it's rare that you know who you are getting in bed with before you have paid someone. I have hired 3 people on Fiverr and every single one of them has ended poorly.

Meanwhile, my partner and I have had much more success with Upwork. The quality of workers is much better and the platform itself seems to encourage a more professional exchange. It's much easier to go back and forth with the designers or writers. Very easy to fall into a conversation about the work instead of feeling like you are issuing an edict.

We are paying more on Upwork, but honestly it's well worth the price just because we are getting quality and reduced headache in return.

Anyways, just the results of my limited experience. Hope someone else finds this helpful.

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What companies invest in building MVP’s ?

Posted: 08 Nov 2020 09:47 AM PST

What type of companies invest in MVPs?

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I'm in need of some advice!

Posted: 08 Nov 2020 09:43 AM PST

Hey! I make jewellery, handmade books, paintings, various crafty things. I'm looking to sell them online. I'm not concerned with making thousands and thousands of dollars, but it would be nice if my hobbies could help pay for themselves. That being said, I really don't want to be majorly screwed over by whatever website I decide to sell my stuff on. Does anyone know what route (Etsy, eBay, Craigslist, Facebook marketplace, just make my own website, etc) would be the best way to go about selling? If anyone has any general advice for me as well, it would be greatly appreciated!! Thanks! :)

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So it's pretty much impossible to hide from other tech entrepreneurs

Posted: 08 Nov 2020 09:24 AM PST

Yikes, I thought I was safe: https://i.imgur.com/6auxK8m.jpg

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16 year old with lots of time.

Posted: 08 Nov 2020 09:13 AM PST

Hey there. I'm a 16 year old with lots of extra time on my hands, lots. Online school hasn't really been taken seriously by my school so I'm left with about 6 hours everyday to do whatever I want. Ive always wanted to get into business so I said I might as well start now. I began reading books like rich dad poor dad, and watching Kevin O'Leary (Mr Wonderful from Shark Tank) on YouTube. What else should I be doing?

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Why terrible comedians make fortunes with jokes that aren't funny

Posted: 08 Nov 2020 02:43 AM PST

I believe every internet marketer should watch a clip of famous 80s comedian Gallagher. He's best known for a routine where he gets a big mallet and smashes food with it.

It's 3min 51secs and it's on Youtube at the link below:

https://www.youtube.com/watch?v=ErppAlOIGQE

I recommend you all watch it because it's as shit as it sounds.

(The top voted message in the comments section reads: "I uh... guess you had to have been there.")

What's amazing is despite how childish and genuinely un-funny Gallagher's comedy is to many people, he's among the most decorated comedians in US history!

The guy has (somehow) had 14 one-hour Showtime specials, sold out 220 consecutive in person performances and Comedy Central rated him the 100th greatest stand up of all time!

You know why I'm telling you this right?

It's to remind you how low the bar for success is!

I'm specifically making a point on perfectionism.

I've been able to do well online. But my early ebooks and online course days were plagued with obsessing over the tiniest details.

This led to endless tinkering. My products, emails, sales pages, webpage colours, everything was constantly tweaked and changed.

It came from a good place of course. I wanted to do a thorough and good job. But it meant I never got going or made any sales.

This one bad habit lost me YEARS of progress. And it's why it took me an embarrassing six years before my first sale online.

The proof is everywhere.

Tell me, how many ebooks, courses, books and whatever have you come across that are horrid?

Many right?

But you know they've a lot of money don't you?

Exactly.

That's because the bar to online success (and everywhere else) is very, very low.

But it does require consistency. And getting stuff out into the market on a regular basis.

Will you wiggle and wince in pain as you put out something you know you could do better with?

Of course. But it'll subside when you find it sells!

And sell it will.

Best,

Ganon

PS. I first wrote this post on r/internetmarketing. It's a wonderful community for guys who sell ebooks and online courses. Advice and tips on a daily basis.

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Sunday, November 8, 2020

How I made 100k during lockdown Entrepreneur

How I made 100k during lockdown Entrepreneur

Step-by-step (sentence-by-sentence) essay writing application.

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