if you want to start a business this is the book you should read I've read a lot of business books and a lot of them are blah blah blah a lot of yapping not a lot of actionable bits this one is not like that I read million dollar weekend in about 4 hours while our internet was down so here are four of the biggest money-making lessons from this book if you are looking to start a business or you're already starting a business so the first quote from this book I want to read you is you
will never sell a thing if you can't face another person and ask for what you want so for the first lesson from this book is to set a rejections goal in this book no says most people don't ask for what they want they wish for it they make suggestions and drop hints they hope but the simple fact of business is that only by asking do you receive what you want no ask no get and I agree times a thousand if you sent five cold pitches I'm really proud of you super super super proud I know
it's really scary but we got to do more we got to play the numbers game so imagine you have a four to 5% conversion rate when you're just getting started that means of a 100 people you talk to four to five of them become clients so you need to try to talk to at least 100 people try 100 times set a rejections goal of a 100 to get those four to five clients I know it a lot but you can do it if you break it down and take it just one% at a time we
rework how we think of the concept rejection we kind of have to think of it instead reframe it instead into something that is super cool super exciting to get and I know this is really hard I'm really speaking as a mega rejection averse human but in this book Noah's dad actually says you should love rejections so you should collect them like treasure set rejection goals and he shoots for a 100 rejections every single week because if you work that hard to get so many NOS in them you will find a few yeses too 100 rejections
a week is unreal to me that's nuts to me I think I would be truly Unstoppable if I tried to get rejected a hundred times a week and if that's too wild for you as well just shoot for one rejection this week can you try to get one rejection this week if you get rejected once this week come tell us in the comments and you will win my respect I'll cheer you on I'll be so excited for you and it could be rejection for anything you can go to a coffee shop and ask for a
10% discount you can send out a cold pitch you can ask somebody if they' be interested in buying your product it doesn't matter you're trying to get rejected if you've gotten 20 rejections 30 rejections 40 rejections that is really a huge win and we really have to start seeing it that way because you're 20 30 40 rejections ahead of someone who hasn't even started yet also Noah says when you get rejected here are a couple useful questions you can ask why not so figure out why someone is saying no like why exactly are they rejecting
the offer what's the reason so getting that feedback is how we can improve our offer it's how we will increase our conversion rate and reduce our rejection rate second question who is one person you know who would really like this so maybe it's not for them but maybe they can think of somebody who it would be a good fit for and that gives you more data on okay here's the type of person that potentially could be interested in my offer third what would make this a no-brainer for you this is such a great question that
also Alex Heros talks about as well is like what would make someone say yes you want to figure that out because that would obviously be like the most precious gold feedback that you could possibly get for your next ask is like what would make this a yes for you what could I add into it how could I change the offer so that it is interesting for you and four what would you pay for that the feedback to these questions and I know it's like oh this kind of uncomfortable to ask these questions the feedback to
these questions that is what will make you rich finally I really want to leave you with this quote which I highlighted and read like three times because it's so good the illusion of eventual pain that you associate with taking that risk what if you're judged or look foolish or it doesn't work is a straight jacket on your potential and this is really a call out to me as much as it is to you because I always hold myself back from trying scary things because I'm like oh no but what if they what if that it
does not matter you're the person that has to live your life you're the one that has to get out there you're the one that's going to win nobody else matters nobody else's thoughts and opinions matter I know it's easy to say but kind of hard to put into practice but just please if you get rejected come tell us I'll hold you accountable all right right next related lesson let me read you this quote whatever you put yourself to do it a hundred times before you even think about stopping so this is the lesson is that
business equals experimentation you have to be able to experiment and I forget that always I always somehow my brain always comes to this conclusion that business is like a step-by-step foolproof 100% success guaranteed strategy where if I just do the right things the perfect things then I'm guaranteed to success and I find that that is why experimenting feels very scary very risky to me because experimenting means this may not work out the wrong decision is better than no decision because the wrong decision at least redirects you gives you data gives you feedback so that you
can make the right decision in the future no decision no momentum I don't know if you've ever been stuck and felt stuck it is one of the worst feelings in my opinion when it comes to building a business because you feel like nothing is happening and it's just because you're not getting out there talking to people getting that momentum that you need to take the right next steps even if the steps you're taking right now are not correct they will lead you to the right steps if you just keep taking them I know this is
kind of a crazy dress I thrifted it and I've never worn it and I was like let me bust it out for YouTube so the inevitable truth is if you can't experiment you can't do business AK if you can't try a lot of times you just cannot do business and the second part to the experimentation is to give the experiment enough of a chance before declaring it a total failure that means not just running your business for 5 weeks and then declaring it a failure if you haven't made a sale or pitching five potential freelance
CLI then declaring it a total waste of time when you don't hear back from those five people whatever you put yourself to do it a hundred times before you even think about stopping and that's actually exactly how I began the experiment of this YouTube channel I was thinking so much like way too much about whether I should or shouldn't started or this or that or what if and thinking about whether I should quit every single week after every single video whether the views are there all of that rumination and overthinking is such a waste of
energy when you are just trying an experiment So eventually I just made a commitment to make a 100 YouTube videos before I could even think about quitting I didn't let myself overthink I said DEA you're committing to 100 videos then you will decide what's going on and that is why we now have over a 100 videos on YouTube you cannot evaluate progress after every single tiny task you do that isn't enough time for progress and results to materialize it's like planting a seed and then checking every hour if it's sprouted like have you sprouted have
you sprouted and if it hasn't sprouted yet then like we're going to throw the plan out right like that's so unfair you're not giving yourself enough time to bloom all right here's the next lesson and quote it is deadly to build a business without first verifying that there are paying customers Market validation I talk about all the time it's non-negotiable do not launch products or services without checking that people will actually give you money for it and I think sometimes as Freelancers or so business owners we forget that market validation also applies to us not
validating your product service before you launch it is almost a guaranteed path to failure so what is validation I love the definition of validation that what gives in this book validation is finding three customers in 48 hours who will give you money for your idea that is quick simple fast I love it there's no time for overthinking can you find three people who will give you money for your idea whatever it is you're thinking about creating offering making as a freelancer small business owner ET shop owner artist content creator it doesn't matter he talks about
how you should just create the simplest possible version of what you're thinking and then try to sell that immediately so example let's say you want to be a freelance C copywriter so do not go and build a website a logo a branding Packages Etc just go ask three people if you can help them write a Facebook ad for $20 an example for me as well this is calling me out I've been debating selling some hoodies that I would personally love to wear I'm like oh my gosh I would totally buy these I wonder if anybody
else would be interested in them and I was thinking like oh DEA you're going to have to build a whole brand a website a product line of multiple products before you could do it that's dumb that's dumb that's dumb I should just go ask three people the target audience if they would pay money for it and then I would just fulfill three hoodies before I go waste all this time and money building a website if nobody even wants to pay any amount of money for it and he also says the launch is not based on
perfecting a business plan but on talking to potential customers and finding out what they're excited to give you money for if you do this as a freelancer I promise you that you will learn more useful insights than any amount of reading books or watching YouTube videos even this one will do for you and for those of you that are a little bit nervous about being salesy and with you here's the best news of all validating your product or service is not about selling or pitching someone it's a conversation talking to find out if you can
even help them and if they'll pay you money for it because that feedback them saying yes but blah blah blah or no and here's why that's going to make you money so some questions that Noah recommends asking are what's the most frustrating thing about what's currently going on so really diving into that problem that paino like what is the problem how would having X make your life better so you're trying to figure out how you're going to solve that problem what's the solution and what do you think X should cost so you're trying to get
a little bit of that gauge on the price points right so most people are going to watch this YouTube video and then they're not going to do anything from this YouTube video so I'm going to dare you double dog triple dog dare you to go and talk to at least one potential person and ask them some of the questions that I've talked about in this video double dog dare you Triple Dog I don't think you're going to do it if you do it come tell us because we'll be really proud of you all right Lesson
Four another one of my favorites and I've talked about this a lot as well stop trying to be a sick C fre answer answer on day one stop trying to be a sixf figure business in your first year just try to make $1 and I know what you're saying buta $1 won't pay my bills yes but $1 is the first step to $10 to $100 to $1,000 to $10,000 every single cool freelancer small business entrepreneur out there that you admire started with earning just $1 so Noah says many struggle to make their first dollar because
they are so focus on how to make their first million so stop looking at the entire Mountain I beg of you stop trying to look 100 steps ahead create the simplest possible version of what you're offering and start selling it right away so example you want to be let's say a digital business manager like me so go watch a video about clickup and offer to set up clickup which is a project management tool for those of you that don't know for $10 for your friend who runs an Etsy shop and desperately needs a project management
tool when what is the smallest version of the business that you are dreaming about and how can you take action on that this week again not the Grand Vision the smallest possible version as as small as possible tell me what it is below and it better be teeny tiny because I want to know and I'm really proud of you taking a page out of Noah's book which says no as no get so if you want more of these lessons I'm actually putting together a little business book club notion database full of all of my favorite
lessons from business books plus how to actually Implement them in your business with examples it's going to be a paid product because I'm spending a lot of time making it but I'll drop the link in the description box if you would be interested and if you've made it this far to the video I have got a secret bonus favorite quote for you time value not to mention the lifelong Joy generated by a community of a 100 high value attentive fans who know like and trust you will dwarf whatever short-term satisfaction you may get from having
10,000 low value inattentive followers this quote was so good for me to read especially as we hit 10,000 YouTube subscribers a couple months ago so first of all thank you so much for all of you who actually watch the videos this long it means a lot to me and our retention um but this code just reminds me that I want to focus on quality over quantity here on YouTube as well after a lot of soul searching I realized that my goal actually here on YouTube isn't to get to 1 million subscribers that's not really what
it's about for me my goal is to have 100 attentive subscribers who comment thoughtful insights under each video and we have like a conversation and we become business friends essentially that's my goal so that is what excites me that is why I make YouTube videos that's the end goal for me so if you've made it this far in the video you're being so attentive I see you I appreciate you I do not take your attention for granted thank you so much and as always thanks so much for watching and I really hope to catch you
in the next one okay bye
