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A Dozen Things I’ve Learned from Naval Ravikant about Investing, Business and Startups | 25iq
“Desire is a contract you make with yourself to be unhappy until you get what you want.” “Seems like too many people, public and private sector, are making a living slicing the pie rather than baking it.” “Figure out what you’re good at and start helping other people with it; give it away. Pay it forward. Karma sort of works because people are very consistent. On a long enough timescale, you will attract what you project.” “If you are young, one of the best things you can do is build a brand around yourself.”
A Dozen Things I’ve Learned from Naval Ravikant about Investing, Business and Startups | 25iq
“The Internet is very efficiently arbitraged. Anything you can think of has been thought of and tried. The only way you’re going to find something is if you stick to it, at an irrational level and try a whole bunch of things.”
A Dozen Things I’ve Learned from Naval Ravikant about Investing, Business and Startups | 25iq
“The cost of starting a company has collapsed.” “As the cost of running a startup experiment is coming down, more experiments are being run.” “Three years ago, companies could for the first time get all the way through a prototype of a service before they even raised seed money. Two years ago, they could make it through launch before raising money. Now, they can start to get traction with a user base by the time they come looking for seed money.”
Don't Build A Startup, Just Make Money | Maverick Traveler
A business that makes money today, even if it’s not a lot initially, is always better than a business that might make money in six months or a year. Besides, if you really want to, you can always build a startup later. Since you’ve created lots of value and build a massive audience, you would know exactly what your audience is interested in and willing to pay for. This will allow you to create a product or service that you will absolutely know your audience wants and is willing to pay for. This is by far the easiest and most straightforward path to financial and location-independent success. Something that you can start doing right now.
Don't Build A Startup, Just Make Money | Maverick Traveler
The beauty of pursuing this path is that you can immediately get started with something that matters: adding value and making money. This way you’re not spending time obsessing and perfecting your idea (remember: ideas by themselves are worthless). You’re not spending time searching for a co-founder. You’re not spending time attending various workshops, seminars and meetups. You’re also not begging investors for money. You’re simply telling people what you’re doing and then selling them value. You’re the captain of your own destiny. Making money is the best validation that what you’re doing actually matters.
Don't Build A Startup, Just Make Money | Maverick Traveler
Take something that you’re good at, something where you can add value and begin talking about it. Create a website and sell your knowledge. This knowledge can encompass pretty much anything. If you’ve learned to do something important, chances are it will be of value to others as well. Not only is this the most straightforward way to make money, it’s also the easiest.
Don't Build A Startup, Just Make Money | Maverick Traveler
Startups are inherently risky. You toil for many months and even years before realizing that no one wants what you’re selling. Fortunately, there’s another way. Instead of building a product you’re not even sure will sell, a product that won’t be profitable for a long time, start building a brand around what you already know how to do well, like yourself and what you do.
Don't Build A Startup, Just Make Money | Maverick Traveler
It’s safe to say that these guys are living very comfortable lives. Many of them are easily making several thousand dollars per month (many guys I’ve met are easily clearing $5,000-15,000/month). This is the money that’s coming into their pockets today—right now. Plus they’re actually enjoying their lives because they’re living in an exotic foreign country, and not working in overpriced Silicon Valley/San Francisco while waiting for some “payoff” down the road.
Don't Build A Startup, Just Make Money | Maverick Traveler
What these guys do know how to do really well is to make a lot of money. They’re businessmen not startup experts. Many of them run several businesses in different niche areas. Some of them are running e-commerce stores that sell very basic things that everyone needs like screws or power tools. Many guys are running simple SaaS businesses charging customers $5-50 per month for a service. Others are building high-trafficked websites in all kinds of niches that people are interested about and sell advertising or sponsorships. None of what they’re doing even closely resembles a startup and because they’re profitable, they don’t need to seek outside investment.
Don't Build A Startup, Just Make Money | Maverick Traveler
One of the things I discovered after I began living and traveling around the world after living for a decade in San Francisco is that most successful people aren’t building or even thinking about building a startup. Most of the self-made guys I met living and roaming in places like Rio de Janeiro, São Paulo, Lima, Medellin, Bangkok and Bali wouldn’t know a single thing about startups if someone put a gun to their head.
Don't Build A Startup, Just Make Money | Maverick Traveler
building a startup is far from the only way to assert yourself and build something of your own. In some cases, it is actually an unnecessarily hard approach. This is something most people completely miss because they think that startups are the only way to make money online. Actually, this couldn’t be farther from the truth.
