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I spent 3 hours interviewing a billionaire.
What surprised me is before he got rich, he had the SAME problem as everyone else:
Fear of leaving your job to work for yourself.
Here're 10 tips he gave me to become your own boss:
What surprised me is before he got rich, he had the SAME problem as everyone else:
Fear of leaving your job to work for yourself.
Here're 10 tips he gave me to become your own boss:
Leverage:
You can get large loans to give you years of runway.
But you have to create a solid business plan:
•Research
•Outline goals
•Perform analysis
•Know your clients
•Outline sales plan
•Make projections
•Describe your products
Fallback:
You can get large loans to give you years of runway.
But you have to create a solid business plan:
•Research
•Outline goals
•Perform analysis
•Know your clients
•Outline sales plan
•Make projections
•Describe your products
Fallback:
Fallback Plan:
You have to spend 5-10 years developing skills you can fall back on
Like Naval says:
It will take 10 years to create your empire
My guest had engineering experience he could fall back on if he failed
Develop valuable skills, and combine them with these:
You have to spend 5-10 years developing skills you can fall back on
Like Naval says:
It will take 10 years to create your empire
My guest had engineering experience he could fall back on if he failed
Develop valuable skills, and combine them with these:
Combine your skills with great writing, speaking, and reading
It's one thing to know your subject; it's another to be able to sell it
The benefits of sales techniques:
•Promotes word-of-mouth
•Separates you from competition
•Communication skills related to your customer
It's one thing to know your subject; it's another to be able to sell it
The benefits of sales techniques:
•Promotes word-of-mouth
•Separates you from competition
•Communication skills related to your customer
Big Picture:
The money isn't in creating technologies.
The money is in selling the technologies.
My guest made his money by knowing his customer & introducing tech, which would make their business more effective.
Don't sell something that your customer doesn't need.
Advance:
The money isn't in creating technologies.
The money is in selling the technologies.
My guest made his money by knowing his customer & introducing tech, which would make their business more effective.
Don't sell something that your customer doesn't need.
Advance:
As you advance, opportunities compound
Throughout your journey, you collect nuggets of opportunity.
The nuggets:
•Mentors
•A network
•Life lessons
•Investing opportunities
The nuggets pile up, and your pockets become full.
Build when your pockets are filled then:
Throughout your journey, you collect nuggets of opportunity.
The nuggets:
•Mentors
•A network
•Life lessons
•Investing opportunities
The nuggets pile up, and your pockets become full.
Build when your pockets are filled then:
Combine every idea with a business plan
It's one thing to create an idea.
It's another to see if it will work.
My guest would create business plans for every idea.
This became a habit, & he developed a 6th sense for knowing if an idea will fail or not.
Get the reps in &:
It's one thing to create an idea.
It's another to see if it will work.
My guest would create business plans for every idea.
This became a habit, & he developed a 6th sense for knowing if an idea will fail or not.
Get the reps in &:
Hire people whose strengths complement your weaknesses
Develop self-awareness
Identify your strengths and weaknesses.
Hire a team that has diversified skills, and the rest will follow
You cannot build an empire on your own, create a foundation with strong people.
Read this:
Develop self-awareness
Identify your strengths and weaknesses.
Hire a team that has diversified skills, and the rest will follow
You cannot build an empire on your own, create a foundation with strong people.
Read this:
My guest read one book before taking the leap:
"Crossing the Chasm" - Geoffrey Moore
This book creates a gameplan for marketing in high-tech industries
It shows you how to sell cutting-edge products to progressively larger markets.
One more thing:
"Crossing the Chasm" - Geoffrey Moore
This book creates a gameplan for marketing in high-tech industries
It shows you how to sell cutting-edge products to progressively larger markets.
One more thing:
Asking yourself these questions will change everything:
•What's your story & mission?
•What does your budget look like?
•Do you have the resources you need?
•If this were easy, what would it look like?
•Why can't I complete my 10-year goal in 6 months?
For more:
•What's your story & mission?
•What does your budget look like?
•Do you have the resources you need?
•If this were easy, what would it look like?
•Why can't I complete my 10-year goal in 6 months?
For more:
I talk about storytelling, business, & mindset
If you enjoyed this thread:
1. Follow me (@worth_parker) for more
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If you enjoyed this thread:
1. Follow me (@worth_parker) for more
2. Retweet the 1st tweet below to share this thread
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Brian Bourque @bbourque
·
Feb 11, 2023
Great stuff Parker