TODAY I WILL BE SHOWING YOU HOW TO CONVERT YOUR PHYSICAL SKILL TO A DIGITAL PRODUCT. part A

People ask me one question over and over: What is a digital product? And why should an entrepreneur focus on digital products instead of just their physical counterparts?

What Is a Product?

A product is any item that you can sell to someone else in exchange for cash or barter. It could be a piece of produce, an electronic gadget, or a comfy couch.
Until the Internet altered commerce for the better, a product was always a physical object or item.

The virtual world has opened up a new category of products (which will get into later).
The point, however, is that a product is something you sell. Most often, you ask. for money in exchange for the product. That’s how you earn a living.

What Is a Digital Product?

A digital product is any product you sell online that doesn’t have a physical form or substance. You can’t hold a website theme in your hand, smell an e-book, or taste a software program — Uber eats does come close though ; ).

Why Are Digital Products Preferable to Physical Products?

You might wonder why you would offer digital products instead of creating your own physical product. After all, physical products dominated commerce for hundreds of thousands of years.

There are 5.14 billion Google results for "how to build a startup."

Most are a waste of time.

Here are 5 that are pure gold:

1) Learn from Elon Musk, Mark Zuckerberg and other top entrepreneurs.

Essays, videos and interviews on startup topics including fundraising and growth from the best founders of our

2) Join a community of like-minded entrepreneurs.

Success stories, case studies and camaraderie as hustlers build side projects and MVPs in public, sharing what they

3) Find the right freelancers to get your product off the ground

Graphic designers, software engineers, content creators, marketers and more.

I've hired great people from around the world using this

4) Learn how to market your business

Facebook's Ad library lets you see the ads running for any company in the world.

It's a powerful tool to understand your competition and get ideas on how to position

Why should you start your own business instead of becoming an employee?

Well, being a business owner isn't for everyone.
But it may be exactly the change you need!

Let me give you some great reasons to quit your job and become self-employed.

🧵👇

1️⃣ You become free and independent

You get the ability to steer the direction of your life in any way you want, instead of working for the whims of others.

You also get to manage your own time and schedule.
Who wants to ask for permission to spend time with your loved ones?

2️⃣ You get to follow your passion

In your own business, you get to do what excites you.
Not only does a passion make your job fulfilling, but it also unlocks hidden powers in you!

Why do you work?

❌ Because my boss wants this done by tomorrow.
✅ Because I love what I do!

3️⃣ You can make a lot of money

Of course, wealth isn't everything.
But let's be real, it's important!

By freelancing, you can triple your income.
I take home more than $300K/y on consulting alone.
So can you 🔥

Combine that with selling products!
Only the sky is the limit.

4️⃣ You pay way less in taxes

Earned income (salary) is the type of income that is taxed the highest.
By being an employee, you're a 50/50 partner with the government.

By incorporating your business, you can lower taxes by reinvesting in assets such as stocks or property.

Startup Bharat: @naval & @balajis

The full Clubhouse session in text

Thread Continued

1/

Naval: The Boston ecosystem has always regretting that they've sort of lost these companies.

India has to make sure it doesn't lose as entrepreneurs. And the way to do that is to give them the freedom to innovate. Everyone should be an entrepreneur.

2/

Everyone has a phone should be able to get a job through the phone. There's one level beyond that, that comes after that, which is everyone has a phone, should be a creator for the phone. And that's what platforms are enabling.

3/

There's the old, famous New Yorker cartoon with a dog on the internet, on the computer and it says on the internet, nobody knows you're a dog. Well, yeah, on the internet, nobody knows who you are or where you are or what you are. All they care about is your output

4/

And that is incredibly liberating for a country that's so large and has such a good English speaking population, India can win, it just has to remove shackles.

I worked at a very hip startup that was once on the move but then had crested and was on the slight decline.
1/

I was running a team of people who did video conferencing. They were really good at it, and I didn't know anything about the technology. One of the tricks I sometimes use in management is to shut up when I don't know anything.
2/

it was IT in a different gear than I'd seen before
e.g. your wiring had to be perfect, there would be decisions by people that required insane costs &
white gloves
3/

a day or two after they announce earnings, they want to do an All Hands where the CEO, CFO and various bigwigs claim credit for the smart work of their teams.
4/

This team runs that conference setup. It's a big deal and a lot of work, and this was the first one I'd run by myself. None of the old leaders
5/

Well what a year - a thread!😅

I can still remember the exact moment lockdown was announced, and my whole business was instantly teetering over the edge of a cliff...

#GoodBye2020 #Hello2021

The turning point was a rather emotional social media post, where I laid myself bare and basically had a bit of a public meltdown. Within minutes, two really important things happened that changed everything...

Firstly, on-line orders started arriving, which took the business in a new direction, and showed me there was light at the end of the tunnel.

Secondly, and just as importantly, messages started flying in from people in similar or worse positions than me and that was the trigger (kick up the backside) I needed to drive things forward.

The fact these people had messaged me, irrespective of their own troubles, was so humbling and inspiring - and I haven’t looked back since.

I currently intern for a venture accelerator where I listen to and provide feedback on pitches from startups looking to get funded.

Here are 7 things I've learned so far 👇

1/ Forget the elevator pitch

Be able to describe what your business does and how it does it in one sentence.

VC's have short attention spans. Explaining what you do quickly means you understand your business and the value it offers.

2/ Tell a story

Every good story has a beginning, a middle, and an end - the same way a good pitch does.

Beginning: What is the problem?
Middle: What did you do about it?
End: Where is it going?

3/ Explicitly define the problem

Explain in detail what the issue is your customer has and WHY they have that problem.

Just because you have sales doesn't mean you're solving a problem.

Good businesses with exponential potential solve problems.

4/ Understand why you're different

If you're a first-mover in a good business, you will have competitors.
If you're not a first-mover, you already have competitors.

Know what value you bring that others do not. Why did customers choose you and why will they continue to?

I really like @sweatystartup’s tone - and I think it applies to trading

Most fintwits try to sound smart and do complex formulas to convince you you’re too dumb to manage your own $. It’s marketing

For traders focused on cash flow:
A thread on what I call “the pnl grind”.

1/ the grind is a grind because it’s work ethic. 12 hours a day, min. And weekends.

The grind is a grind because it’s hitting singles. 5-10 trade concepts a day. Hypothesize. Swing. Measure. Repeat.

The grind is a term that comes from gangster rap. And it’s focused on 💵

2/ what does a “grind trade” look like? Signal hit the top of the App Store. What’s a basket of trades that will work in a privacy focused world?

Long Eqix short Twtr - private cloud vs regulation
Long Z cash short bitcoin - private crypto vs censored crypto

Just examples

3/ grind trading is all about 1 off events that diverge from history. Quant traders don’t model them well bc lack of history. Fancy long / short guys are slow moving their books. Day traders aren’t focused on fundamentals.

And let’s be honest - grinding works bc it’s brutal

4/ when Biden said he was going all in on cyber security, due to Russian hacking - it meant Russia was the new media scapegoat, so Blinken could deal w 🇨🇳. Blinken is a communist boot licker. So what. Don’t get emotional. Monetize. You went long $Feye/ $JD. Got paid. Moved on.

Building an #MVP is the first step in building a #startup. Whether a feature should be added or not, better to launch early with less or late with more are questions founders struggle with. Below 👇👇👇 is a #tweetstorm on @mwseibel's 'How to plan an MVP'

Excerpts from the Africa Tech Startups Funding Report 2020. 🧵

In 2020, a total of 397 African tech startups raised a record $701million in funding, with bulk (89%) of these funds going to startups in Nigeria, Kenya, South Africa & Egypt.

The tech startups that stood out in 2020 by funding received were:
°Egypt's Vezeeta - $40,000,000
°Nigeria's Flutterwave - $35,000,000
°South Africa's Skynamo - $30,000,000
°Kenya's Twiga Foods - $29,400,000
°Kenya's Komaza - $28,000,000

The top investors in African tech startups in 2020.

Kenya 🇰🇪

59 Kenyan startups raised a record total of $191,381,000 in funding in 2020.

Twenty two (37%) of Kenya’s funded startups raised a $1 million or more.

How to run a company (in priority order):

1: Define a crystal clear north star

Great companies know their destination.

Everyone rowing in one direction.

The best north star? A SIMPLE, measurable metric.

Get it right, and watch the magic unfold! 💫

2: Hire uncomfortably good people

Ah, my favorite line!

Hire people you have no right to hire.

Who are so good it makes you nervous.

Who force everyone to step up their game.

Always level up 🦾

3: Create a culture of urgency

Nothing is more powerful than a group of people making every day count 🔥⚡️🚨

4: Make sure no one gets blocked

You’re paying good people good money.

Make sure they don’t get stuck!

Demotivating for them 🤦

Disastrous for the bottom line.

Starting a company is hard.

The hardest part: the euphoric ups followed by the VICIOUS downs

I wasn’t satisfied that this was “the way it had to be”

I started digging. Worked with a coach. Read books

Here’s the #1 I learned to fight the ups and downs

I do it daily 👇🏽👇🏽👇🏽

1/ First, let’s back up.

One thing entrepreneurs all have in common is that we are HUMAN.

Newsflash: Humans weren’t designed to be happy. We were designed for one thing: survival.

Now if you were designing an animal to survive, what are some things you may give it?

2/ How about an alert system?

Something to let them know they should be careful or stop doing something: EMOTIONS

Fear - what wants to be paid attention to?
Anger - what wants to be stopped?
Sadness - what wants to be let go?
Joy - what Wants to be celebrated?

What else?

3/ You’d want this animal to be able to use these emotions and quickly spot threats.

In fact, humans are built to walk into a room and first pay attention to anything that could harm them!

But these days, we don’t often experience threats aren’t to our physical survival…

Becoming a creator in 2023 will change your life.

Here are 13 tips to make the switch from a consumer to a creator:

Set a Daily “Make Something” Goal

Grab a sticky note and write “make something today"--stick it to your computer monitor.

Your goal is simply to make something--anything--every single day.

Set the bar low and make it achievable.

Creation will start to become a habit.

Document What You Make

Start documenting your daily creation.

Post it online with a few sentences about what it means to you.

Was it an idea floating around in your head for months? A mini essay you've been meaning to write? Code that you finally figured out?

Document it.

Decide Before You Start

Too often I sit down at my computer and wonder what I should work on. That’s dangerous.

The Trick: Decide what you are going to do beforehand.

Write a to do list beforehand, then immediately jump into that first task.

Remove the guesswork.

Separate Creation & Consumption

Computers are for creating, not consuming.

Go to all your social sites and sign out. Set up your computer as your creation hub.

Use your phone or tablet for consumption.

One device is used for creating, the other for consuming.

Venture capital open letters be like

(if) can generate free cash - generate
(else) raise capital today
like right now
abhi jake sequoia parter ko uthake cheque likhwa

@realjondavids @jayvasdigital @awilkinson Please do! Would love to listen to this.