his 4-hour workweek book was on the bestseller list for seven consecutive
bestseller list for seven consecutive
bestseller list for seven consecutive years
years
years his next books the 4-hour body and the
his next books the 4-hour body and the
his next books the 4-hour body and the 4-hour chef became instant bestsellers
4-hour chef became instant bestsellers
4-hour chef became instant bestsellers he’s an angel investor and or advisor to
he’s an angel investor and or advisor to
he’s an angel investor and or advisor to Facebook Twitter stumble upon Evernote
Facebook Twitter stumble upon Evernote
Facebook Twitter stumble upon Evernote and uber among other companies
and uber among other companies
and uber among other companies he’s Tim Ferriss and here are his top
he’s Tim Ferriss and here are his top
he’s Tim Ferriss and here are his top ten rules for success a diversified
ten rules for success a diversified
ten rules for success a diversified identity in some fashion I think this is
identity in some fashion I think this is
identity in some fashion I think this is important so that your self-worth isn’t
important so that your self-worth isn’t
important so that your self-worth isn’t only associated with your startup that’s
only associated with your startup that’s
only associated with your startup that’s probably a controversial recommendation
probably a controversial recommendation
probably a controversial recommendation what that means is you should actually
what that means is you should actually
what that means is you should actually spend time involved with other skills so
spend time involved with other skills so
spend time involved with other skills so in San Francisco for instance many
in San Francisco for instance many
in San Francisco for instance many startup founders I know who are very
startup founders I know who are very
startup founders I know who are very efficient and effective have their
efficient and effective have their
efficient and effective have their startup rock climbing they get outside
startup rock climbing they get outside
startup rock climbing they get outside they do a few things so that if one goes
they do a few things so that if one goes
they do a few things so that if one goes well they can they can remain optimistic
well they can they can remain optimistic
well they can they can remain optimistic each week which is very difficult if
each week which is very difficult if
each week which is very difficult if you’re only directed at your startup I
you’re only directed at your startup I
you’re only directed at your startup I only invest in things that I understand
only invest in things that I understand
only invest in things that I understand and things that I use or would use
and things that I use or would use
and things that I use or would use myself this is really really really
myself this is really really really
myself this is really really really important
important
important anytime I step outside of that is
anytime I step outside of that is
anytime I step outside of that is usually when the universe kicks me in
usually when the universe kicks me in
usually when the universe kicks me in the nuts really aren’t and I lose my
the nuts really aren’t and I lose my
the nuts really aren’t and I lose my money I think it’s it’s critical to as
money I think it’s it’s critical to as
money I think it’s it’s critical to as an entrepreneur scratch your own itch it
an entrepreneur scratch your own itch it
an entrepreneur scratch your own itch it increases the odds of success or the
increases the odds of success or the
increases the odds of success or the probability of success and then it’s as
probability of success and then it’s as
probability of success and then it’s as an investor I look for people who are
an investor I look for people who are
an investor I look for people who are scratching their own itch and you’re
scratching their own itch and you’re
scratching their own itch and you’re thinking about a product launch
thinking about a product launch
thinking about a product launch first thing I would ask is is it the
first thing I would ask is is it the
first thing I would ask is is it the right time to do product launch so if
right time to do product launch so if
right time to do product launch so if your product isn’t figured out if you
your product isn’t figured out if you
your product isn’t figured out if you can’t hold the orders now is not the
can’t hold the orders now is not the
can’t hold the orders now is not the right time to be on TechCrunch in my
right time to be on TechCrunch in my
right time to be on TechCrunch in my opinion or in any other major media
opinion or in any other major media
opinion or in any other major media outlet once you’re in a major media
outlet once you’re in a major media
outlet once you’re in a major media outlet they’re not going to cover you
outlet they’re not going to cover you
outlet they’re not going to cover you again for some period of time or ever if
again for some period of time or ever if
again for some period of time or ever if you’re in the business section the New
you’re in the business section the New
you’re in the business section the New York Times they’re not going to cover
York Times they’re not going to cover
York Times they’re not going to cover you four weeks later when your product
you four weeks later when your product
you four weeks later when your product is better and you’re ready so make sure
is better and you’re ready so make sure
is better and you’re ready so make sure that you pick your timing a few things
that you pick your timing a few things
that you pick your timing a few things so there’s paid exposure and unpaid
so there’s paid exposure and unpaid
so there’s paid exposure and unpaid exposure I like to focus on unpaid
exposure I like to focus on unpaid
exposure I like to focus on unpaid because it makes you it forces you to
because it makes you it forces you to
because it makes you it forces you to make better decisions in the beginning
make better decisions in the beginning
make better decisions in the beginning so I would read as I always say the 22
so I would read as I always say the 22
so I would read as I always say the 22 immutable laws of marketing 1,000 true
immutable laws of marketing 1,000 true
immutable laws of marketing 1,000 true fans written by Kevin Kelly I would also
fans written by Kevin Kelly I would also
fans written by Kevin Kelly I would also read best-selling book PR and publicity
read best-selling book PR and publicity
read best-selling book PR and publicity I think it is by Rick Frischmann Fri SH
I think it is by Rick Frischmann Fri SH
I think it is by Rick Frischmann Fri SH ma n all the techniques apply to more
ma n all the techniques apply to more
ma n all the techniques apply to more than books and learn to tell the story
than books and learn to tell the story
than books and learn to tell the story what are you focusing on are you using
what are you focusing on are you using
what are you focusing on are you using yourself to tell the story and then the
yourself to tell the story and then the
yourself to tell the story and then the product is associated is it a trend
product is associated is it a trend
product is associated is it a trend piece are you trying to tie what you’re
piece are you trying to tie what you’re
piece are you trying to tie what you’re doing into a greater trend which is very
doing into a greater trend which is very
doing into a greater trend which is very effective way of getting media in which
effective way of getting media in which
effective way of getting media in which case you’re going to need other examples
case you’re going to need other examples
case you’re going to need other examples you need to get comfortable bringing in
you need to get comfortable bringing in
you need to get comfortable bringing in sort of cooperative competitors to
sort of cooperative competitors to
sort of cooperative competitors to create that trend B’s learn the art of
create that trend B’s learn the art of
create that trend B’s learn the art of the pitch and of messaging only once you
the pitch and of messaging only once you
the pitch and of messaging only once you have figured that out what I say then
have figured that out what I say then
have figured that out what I say then you go out you pay to acquire people
you go out you pay to acquire people
you go out you pay to acquire people because now if your messaging is off
because now if your messaging is off
because now if your messaging is off it’s costing you money you need to know
it’s costing you money you need to know
it’s costing you money you need to know what your unique strengths are and be
what your unique strengths are and be
what your unique strengths are and be willing to delegate so I would say that
willing to delegate so I would say that
willing to delegate so I would say that the question of whether you should take
the question of whether you should take
the question of whether you should take a skill learn it yourself delegated
a skill learn it yourself delegated
a skill learn it yourself delegated someone else or hire new team member are
someone else or hire new team member are
someone else or hire new team member are determined by having a very accurate
determined by having a very accurate
determined by having a very accurate self assessment and assessment and B
self assessment and assessment and B
self assessment and assessment and B your team skills not only what you can
your team skills not only what you can
your team skills not only what you can do but what you should be doing that’s
do but what you should be doing that’s
do but what you should be doing that’s very important so if you’re a start-up
very important so if you’re a start-up
very important so if you’re a start-up CEO or founder and you have a team of
CEO or founder and you have a team of
CEO or founder and you have a team of say two to ten people
say two to ten people
say two to ten people as soon as you have funds to hire you
as soon as you have funds to hire you
as soon as you have funds to hire you should not be focused on the things that
should not be focused on the things that
should not be focused on the things that you are bad at sounds very very
you are bad at sounds very very
you are bad at sounds very very intuitive but it’s not because you might
intuitive but it’s not because you might
intuitive but it’s not because you might have enough time to do those things but
have enough time to do those things but
have enough time to do those things but the question is do you have the
the question is do you have the
the question is do you have the attention to dedicate to this thing so
attention to dedicate to this thing so
attention to dedicate to this thing so they’re not an interruption
they’re not an interruption
they’re not an interruption especially if you’re a venture-backed
especially if you’re a venture-backed
especially if you’re a venture-backed startup and you’re competing against
startup and you’re competing against
startup and you’re competing against other companies that also have a lot of
other companies that also have a lot of
other companies that also have a lot of funding the game the game and the race
funding the game the game and the race
funding the game the game and the race goes to the Swift so you have to have
goes to the Swift so you have to have
goes to the Swift so you have to have you have to have a lot of velocity you
you have to have a lot of velocity you
you have to have a lot of velocity you need to be able to sell whether it’s
need to be able to sell whether it’s
need to be able to sell whether it’s Kickstarter whether it’s New York Times
Kickstarter whether it’s New York Times
Kickstarter whether it’s New York Times whether it’s your local newspaper you
whether it’s your local newspaper you
whether it’s your local newspaper you need to be able to communicate
need to be able to communicate
need to be able to communicate effectively and so which is why when
effectively and so which is why when
effectively and so which is why when entrepreneurs ask me for books to read
entrepreneurs ask me for books to read
entrepreneurs ask me for books to read outside of business books I say on
outside of business books I say on
outside of business books I say on writing well bird by bird all books on
writing well bird by bird all books on
writing well bird by bird all books on writing improving communication David
writing improving communication David
writing improving communication David Ogilvy Ogilvy on advertising study print
Ogilvy Ogilvy on advertising study print
Ogilvy Ogilvy on advertising study print ads where you have very little space I
ads where you have very little space I
ads where you have very little space I think those are all very very effective
think those are all very very effective
think those are all very very effective the best entrepreneurs I’ve ever met are
the best entrepreneurs I’ve ever met are
the best entrepreneurs I’ve ever met are all good communicators it’s the one
all good communicators it’s the one
all good communicators it’s the one perhaps one of the very few unifying
perhaps one of the very few unifying
perhaps one of the very few unifying factors there are exceptional
factors there are exceptional
factors there are exceptional communicators practice is the only way
communicators practice is the only way
communicators practice is the only way to get better at communicating and
to get better at communicating and
to get better at communicating and practicing speaking does not provide you
practicing speaking does not provide you
practicing speaking does not provide you generally with something to review later
generally with something to review later
generally with something to review later which is why the written word is so
which is why the written word is so
which is why the written word is so powerful writing is thought crystallized
powerful writing is thought crystallized
powerful writing is thought crystallized on a piece of paper that can then be
on a piece of paper that can then be
on a piece of paper that can then be reviewed it’s very difficult to do that
reviewed it’s very difficult to do that
reviewed it’s very difficult to do that with speech which is why I recommend
with speech which is why I recommend
with speech which is why I recommend people focus on honing their skills in
people focus on honing their skills in
people focus on honing their skills in writing and take time to study good
writing and take time to study good
writing and take time to study good direct response ads take time to for
direct response ads take time to for
direct response ads take time to for instance maybe develop a swipe file so
instance maybe develop a swipe file so
instance maybe develop a swipe file so one of the things that I did for years
one of the things that I did for years
one of the things that I did for years is any time I bought something I would
is any time I bought something I would
is any time I bought something I would identify the ad the phone call the print
identify the ad the phone call the print
identify the ad the phone call the print ad the the offer whatever it was that
ad the the offer whatever it was that
ad the the offer whatever it was that made me decide to buy it and I would
made me decide to buy it and I would
made me decide to buy it and I would either cut it out or record it put it
either cut it out or record it put it
either cut it out or record it put it into Evernote whatever it might be and
into Evernote whatever it might be and
into Evernote whatever it might be and save it so I had a record of everything
save it so I had a record of everything
save it so I had a record of everything that I bought and why I bought it and
that I bought and why I bought it and
that I bought and why I bought it and then I could go back and review it and
then I could go back and review it and
then I could go back and review it and I’d be like oh looks like I fell for
I’d be like oh looks like I fell for
I’d be like oh looks like I fell for this this and this not a bad way it
this this and this not a bad way it
this this and this not a bad way it looks like this tipped
looks like this tipped
looks like this tipped me from or not interested – yeah I’ll
me from or not interested – yeah I’ll
me from or not interested – yeah I’ll spend five fifty five hundred five
spend five fifty five hundred five
spend five fifty five hundred five thousand dollars on that I save all that
thousand dollars on that I save all that
thousand dollars on that I save all that everything that works in sales has been
everything that works in sales has been
everything that works in sales has been done already you do not need to reinvent
done already you do not need to reinvent
done already you do not need to reinvent the wheel so just keep track of the crap
the wheel so just keep track of the crap
the wheel so just keep track of the crap that you buy or the awesome stuff that
that you buy or the awesome stuff that
that you buy or the awesome stuff that you buy and decide what was the trigger
you buy and decide what was the trigger
you buy and decide what was the trigger what push me over the edge and then just
what push me over the edge and then just
what push me over the edge and then just sell to people like you that’s what I do
sell to people like you that’s what I do
sell to people like you that’s what I do it’s really easy
it’s really easy
it’s really easy people are like who’s your market I
people are like who’s your market I
people are like who’s your market I might well you know I’m a 30-something
might well you know I’m a 30-something
might well you know I’m a 30-something SF based tech savvy male so I don’t I
SF based tech savvy male so I don’t I
SF based tech savvy male so I don’t I just solve those people it’s a lot
just solve those people it’s a lot
just solve those people it’s a lot easier than trying to guess ideas are
easier than trying to guess ideas are
easier than trying to guess ideas are worth nothing
worth nothing
worth nothing I mean ideas are really they’re not a
I mean ideas are really they’re not a
I mean ideas are really they’re not a dime a dozen are just nothing all the
dime a dozen are just nothing all the
dime a dozen are just nothing all the good founders I know even the bad
good founders I know even the bad
good founders I know even the bad founders can come up with ideas all day
founders can come up with ideas all day
founders can come up with ideas all day long it doesn’t mean anything you have
long it doesn’t mean anything you have
long it doesn’t mean anything you have to be able to execute and you know one
to be able to execute and you know one
to be able to execute and you know one of the sort of Maxim’s that I was told
of the sort of Maxim’s that I was told
of the sort of Maxim’s that I was told once was you know your success will be
once was you know your success will be
once was you know your success will be measured in the number of uncomfortable
measured in the number of uncomfortable
measured in the number of uncomfortable conversations you’re willing to have so
conversations you’re willing to have so
conversations you’re willing to have so I think it asked if an entrepreneur
I think it asked if an entrepreneur
I think it asked if an entrepreneur should say start a business based on one
should say start a business based on one
should say start a business based on one of their passions or if they should find
of their passions or if they should find
of their passions or if they should find the most attractive market opportunity
the most attractive market opportunity
the most attractive market opportunity and build a business out of that whether
and build a business out of that whether
and build a business out of that whether they like it or not I don’t think it’s
they like it or not I don’t think it’s
they like it or not I don’t think it’s either/or I think you need both I would
either/or I think you need both I would
either/or I think you need both I would say liquor and credit card statement
say liquor and credit card statement
say liquor and credit card statement identify where you spend an unusual
identify where you spend an unusual
identify where you spend an unusual percentage of your income where you
percentage of your income where you
percentage of your income where you price insensitive then how old are you
price insensitive then how old are you
price insensitive then how old are you what gender are you where do you live
what gender are you where do you live
what gender are you where do you live and design a product that has all of
and design a product that has all of
and design a product that has all of those things intersecting it’s it’s very
those things intersecting it’s it’s very
those things intersecting it’s it’s very easy to be seduced by doing things
easy to be seduced by doing things
easy to be seduced by doing things efficiently trying to do a lot of things
efficiently trying to do a lot of things
efficiently trying to do a lot of things well I don’t believe that’s the most
well I don’t believe that’s the most
well I don’t believe that’s the most important thing the most important thing
important thing the most important thing
important thing the most important thing is picking the right things to do in the
is picking the right things to do in the
is picking the right things to do in the first place and that’s being effective
first place and that’s being effective
first place and that’s being effective versus just being efficient so within a
versus just being efficient so within a
versus just being efficient so within a start-up its success I don’t think is
start-up its success I don’t think is
start-up its success I don’t think is measured by how many things you can do
measured by how many things you can do
measured by how many things you can do it once it’s measured by how effectively
it once it’s measured by how effectively
it once it’s measured by how effectively you’re able to pick the one or two
you’re able to pick the one or two
you’re able to pick the one or two things into the highest priority
things into the highest priority
things into the highest priority and there’s always going to be a
and there’s always going to be a
and there’s always going to be a seduction to get distracted and focus on
seduction to get distracted and focus on
seduction to get distracted and focus on 20 things at once and the most effective
20 things at once and the most effective
20 things at once and the most effective entrepreneurs I know are very good at
entrepreneurs I know are very good at
entrepreneurs I know are very good at focusing on one or two things and either
focusing on one or two things and either
focusing on one or two things and either eliminating the rest delegating to other
eliminating the rest delegating to other
eliminating the rest delegating to other people or outsourcing it so it’s not
people or outsourcing it so it’s not
people or outsourcing it so it’s not done within the team but it’s actually
done within the team but it’s actually
done within the team but it’s actually two third parties
two third parties
two third parties first time entrepreneurs tend to
first time entrepreneurs tend to
first time entrepreneurs tend to miscalculate is everything what I mean
miscalculate is everything what I mean
miscalculate is everything what I mean by that is optimism has a place but I
by that is optimism has a place but I
by that is optimism has a place but I think even more so for the first time
think even more so for the first time
think even more so for the first time entrepreneur you need to be
entrepreneur you need to be
entrepreneur you need to be pragmatically pessimistic what I mean by
pragmatically pessimistic what I mean by
pragmatically pessimistic what I mean by that is you need to define all the
that is you need to define all the
that is you need to define all the worst-case scenarios in terms of
worst-case scenarios in terms of
worst-case scenarios in terms of financial loss time loss etc look at
financial loss time loss etc look at
financial loss time loss etc look at what you will learn if that happens and
what you will learn if that happens and
what you will learn if that happens and accept and come to terms with that
accept and come to terms with that
accept and come to terms with that before you ever start if you don’t do
before you ever start if you don’t do
before you ever start if you don’t do that and you go straight into battling
that and you go straight into battling
that and you go straight into battling the world trying to conquer the world
the world trying to conquer the world
the world trying to conquer the world with rose-colored glasses on the first
with rose-colored glasses on the first
with rose-colored glasses on the first time you hit a major hiccup you’re going
time you hit a major hiccup you’re going
time you hit a major hiccup you’re going to become really demoralized and you
to become really demoralized and you
to become really demoralized and you will quit so optimism all that rah rah
will quit so optimism all that rah rah
will quit so optimism all that rah rah rah that’s awesome but you need to hope
rah that’s awesome but you need to hope
rah that’s awesome but you need to hope for the best and prepare for the worst
for the best and prepare for the worst
for the best and prepare for the worst before you ever get started I always
before you ever get started I always
before you ever get started I always recommend that I think it’s important to
recommend that I think it’s important to
recommend that I think it’s important to have at least one or two numbers that
have at least one or two numbers that
have at least one or two numbers that you track on a weekly basis so that
you track on a weekly basis so that
you track on a weekly basis so that could be for web-based properties or
could be for web-based properties or
could be for web-based properties or services or products it could be weekly
services or products it could be weekly
services or products it could be weekly average uniques what it is doesn’t
average uniques what it is doesn’t
average uniques what it is doesn’t matter that much but matters less than
matter that much but matters less than
matter that much but matters less than having a metric that you try to improve
having a metric that you try to improve
having a metric that you try to improve every week you can have one or two of
every week you can have one or two of
every week you can have one or two of them you really shouldn’t have many more
them you really shouldn’t have many more
them you really shouldn’t have many more than that I don’t think it could be
than that I don’t think it could be
than that I don’t think it could be conversion from sign up to let’s say
conversion from sign up to let’s say
conversion from sign up to let’s say first stage of sign up to completion of
first stage of sign up to completion of
first stage of sign up to completion of sign up there are many different metrics
sign up there are many different metrics
sign up there are many different metrics that you can use but you I think that to
that you can use but you I think that to
that you can use but you I think that to keep the team focused especially in the
keep the team focused especially in the
keep the team focused especially in the small company it’s very important to
small company it’s very important to
small company it’s very important to have one or two the folks on a weekly
have one or two the folks on a weekly
have one or two the folks on a weekly basis
basis
basis I think failure would be a big piece
I think failure would be a big piece
I think failure would be a big piece even though I fail yer differently than
even though I fail yer differently than
even though I fail yer differently than I think many people I view it as a
I think many people I view it as a
I think many people I view it as a feedback mechanism but if you look at
feedback mechanism but if you look at
feedback mechanism but if you look at even let’s say the 4-hour workweek
even let’s say the 4-hour workweek
even let’s say the 4-hour workweek didn’t start off called the 4-hour
didn’t start off called the 4-hour
didn’t start off called the 4-hour workweek it was also turned down by 26
workweek it was also turned down by 26
workweek it was also turned down by 26 out of twenty-seven publishers and
out of twenty-seven publishers and
out of twenty-seven publishers and hopefully pretty soon it’ll be
hopefully pretty soon it’ll be
hopefully pretty soon it’ll be celebrating four years
celebrating four years
celebrating four years unbroken on the New York Times
unbroken on the New York Times
unbroken on the New York Times bestseller list and I like to whenever
bestseller list and I like to whenever
bestseller list and I like to whenever possible illustrate those failures
possible illustrate those failures
possible illustrate those failures because people will everyone will face
because people will everyone will face
because people will everyone will face failure or mistakes and those are the
failure or mistakes and those are the
failure or mistakes and those are the divergent points from which they can
divergent points from which they can
divergent points from which they can either go in a good direction or a bad
either go in a good direction or a bad
either go in a good direction or a bad direction and I want to illustrate that
direction and I want to illustrate that
direction and I want to illustrate that oftentimes the finish line is only 100
oftentimes the finish line is only 100
oftentimes the finish line is only 100 feet from where you stand but it might
feet from where you stand but it might
feet from where you stand but it might seem that it’s 100 miles away thank you
seem that it’s 100 miles away thank you
seem that it’s 100 miles away thank you guys for watching I made this video
guys for watching I made this video
guys for watching I made this video because Chris 7820 asked me to so if
because Chris 7820 asked me to so if
because Chris 7820 asked me to so if there’s a famous entrepreneur that you
there’s a famous entrepreneur that you
there’s a famous entrepreneur that you want me to profile next leave it in the
want me to profile next leave it in the
want me to profile next leave it in the comments below and I’ll see what I can
comments below and I’ll see what I can
comments below and I’ll see what I can do I’d also love to know what you think
do I’d also love to know what you think
do I’d also love to know what you think of Tim Ferriss as an entrepreneur and
of Tim Ferriss as an entrepreneur and
of Tim Ferriss as an entrepreneur and what your favorite Tim Ferriss book is
what your favorite Tim Ferriss book is
what your favorite Tim Ferriss book is mine is a 4-hour work week what’s yours
mine is a 4-hour work week what’s yours
mine is a 4-hour work week what’s yours leave it below
”
Be First to Comment