Be
AMAZING
9
Since we started Mindvalley, we’ve
blossomed into an award-winning
company with over 100 employees
and annual revenues past $15
mi l l i on , becomi ng a l ead i ng
investment company of personal
development online. But best of all,
we did it without ever having to take
any funds or loans, which means
that I still own 100% of my
business. I started with $2,000,
and the climb was hard and long. I
almost lost it all on multiple
occasions. If I could advise younger
entrepreneurs today, here’s what I
would say:
1.
Your College Degree is
Meaningless
I (barely) graduated from the
University of Michigan. In university
I focused on volunteer work,
t r a v e l i n g ,
b o o k s
o n
entrepreneurship, photography and
theatre work. I never got good at
ONE thing. But having exposure to
many different things helped give
me an edge as an entrepreneur.
Don’t waste your time pursuing the
perfect GPA. Instead, embrace the
idea of a generalist education. I
majored in Computer Engineering
and minored in Performing Arts.
This, in retrospect, was a smart
decision. Your college degree is
me a n i n g l e s s . Yo u r c o l l e g e
EXPERIENCE is what matters.
2.
Don’t Quit Your Day
Job Too Soon
Quitting your day job is a dumb
mistake. You’re going to need cash
flow to survive and to buy web
services like hosting and email
solutions. Your day job provides
security till you can break even or
get funding. Of course, make sure
your day job doesn’t require you to
work l ud i crous hours . Dumb
entrepreneurs take the most risk.
Good ones look for safe, sure bets,
plan ahead and manage cash flow
well.
3.
Business Plans are
Mostly Bull
My first two companies failed. Both
were planned out in detail on
business plans. Yet Mindvalley
when it started had no plan and no
vision past two years. It was a
simple idea scratched out on a
napkin.
The goal was not millions, nor was
it build and flip. It was about figuring
out a way to hack together a
business that would help me
survive in New York City. Start with
a vision. Then develop a model to
make that vision a reality. Work
tirelessly towards building a beta –
but be prepared to pivot and move
rapidly as you learn.
7
Lessons
fromBuildinga
$15-Million-a-Year
Lifestyle
Business
withNoLoans, VCsorAngelMoney