Making the decision between learning to earn or earning to learn.
Learning is a never ending journey, especially if you are an business owner. We should always be learning and innovating to be better.
I’m taking a startup course by Sam Altman from YC, it’s like the online version of startup school. Be it that you are looking to build the next billion dollar startup or looking to build that passive income that would send you working over at the beach. This course is worth spending your time for, especially for the part in finding out what problems to tackle and how to make something work.
Will be sharing my learnings here too and if you are in Singapore and are looking to watch the video together. My buddy Eric Koh has set up this group from FB where we can promote discussions and he has even made the effort to book a venue where we can watch the video together 🙂
Learnings from the first reading:
If you start a company, only do so if you have an idea you’re in love with. If you’re hanging out with your friends trying to come up with an idea, I don’t think you should start that company (although there are many who disagree with me). Starting a failed startup is less bad than joining a failed company as an employee (and you’ll certainly learn much more in the former case). If you fail at an idea that you really loved and could have been great, you’re unlikely to regret it, and people will not hold it against you. Failing at a me-too copycat startup is worse. Remember that there will be lots of other opportunities to start companies, and that startups are a 6-10 year commitment—wait for the right one. via Link
Starting up is hard so make sure we stay committed to it, unless of course we failed but failure is just part of the process.
There’s an article I read from James Clear: The Difference Between Professionals and Amateurs is
The ability to show up everyday, stick to the schedule, and do the work — especially when you don’t feel like it — is so valuable that it is literally all you need to become better 99% of the time. via Link
Amateurs give up half-way, while the pros continue to work even they don’t feel like it. They have to overcome the boring part. Sometimes we drop off because something is no longer exciting. Starting a project is always interesting, maintaining it, not so
Learnings from the second reading:
The reason we like best for becoming an entrepreneur is that you are extremely passionate about an idea and believe that starting a new company is the best way to bring it into the world. The passion is important because entrepreneurship is hard and you’ll need it to endure the struggle, as well as to convince other people to help you. Believing that starting a new company is the best way to bring it into the world is important to ensure that resources—including most importantly your own time — are being put to the best possible use. If the idea is best brought into the world by an existing team, then it is tautologically optimal for the world for it to happen that way. Of course, not everyone is actually trying to optimize their impact, but many entrepreneurs are, by their own admission, and it is important for those people to consider this angle. via Link
What if sometimes starting a company is not the best thing to do? Quite possibly we may find ourselves not made for being founders but strong team members. Starting a company is awesome but we need to “endure the struggle”
Here is the first lecture – How to start a startup.
The official How to start a startup, Facebook Group Global
Learning from video
- Growth the most important matrix nothing else matters
- Make a super good product that your users love
- Start small, early group of users to love it and it would spread. If no one loves it nothing else matters
- Do up customer validation, talk to customers and find out the problems
- The problem you are solving has to be something you love.
- You can work for a hyper growth company and make an impact in this world. Only start a startup when you really really want to do it yourself and no one can do it better but you.