The Barefoot Executive PDF Summary

The Barefoot Executive PDFThe Ultimate Manual for Being Your Own Boss & Achieving Financial Freedom

Don’t you want to be able to just once go to work in your pajamas?

What about if that is your life?

Carrie Wilkerson teaches you how you can become “The Barefoot Executive.”

(Which, having founded a company by the same name, she quite literally is.)

Who Should Read “The Barefoot Executive”? And Why?

Do you like your job?

Can you imagine yourself doing it for the next decade or half a century?

If so, then – congratulations!

You’re one of the fortunate few people on this planet who’ve managed to become their own executives!

Because we just can’t imagine someone who’s not his own boss – and who, consequently, has to adhere to schedules, deadlines, inflexible work hours, etc. – content enough to not yearn for a different future.

Carrie Wilkerson’s “The Barefoot Executive” is a book about these yearners, the less fortunate ones.

Those who want to do something other than what they’re currently doing.

So, basically, it’s about you.

Carrie WilkersonAbout Carrie Wilkerson

Carrie Wilkerson is a bestselling author, consultant, and sought-after keynote speaker.

Named by “Forbes” a top small business influencer, Wilkerson has been featured on both Fox Business News and CNN and has consulted many Fortune 500 companies, including Google.

“The Barefoot Executive” is her only book so far.

Find out more at http://carriewilkerson.com/

“The Barefoot Executive PDF Summary”

Even though it shares the title, this book has nothing to do with the 1971 live-action Disney movie starring the young Kurt Russell and a very smart TV-loving chimp.

However, it may have everything to do with the brightness of your future and your wellbeing, since Carrie Wilkerson’s goal – as stated in the Introduction is

…to give you hope and to take you through the process of investigating your options and your skill sets to create the financial freedom and work life that you’ve perhaps only dreamed of until now.

Ignore the naysayers and avoid the status quo.

So, in other words, Carrie’s vision of your future is one in which you can go to work without socks – or even pants – and one in which you can have the flexibility to join your daughter on an all-day field trip whenever you like – without asking for permissions and without any consequences.

And she shares this vision in five main parts.

The first part is titled “The Myth Breakers,” and it consists of two chapters: “Job Security, Tenure, Retirement, and Other Fairy Tales” and “Why You Must Own a Business.”

As evidenced by the tiles themselves, these chapters set the tone for Carrie Wilkerson’s main investigation, i.e., the why before the how of becoming your own executive.

Needless to add, as far as Wilkerson is concerned, you’re living in some century past if you still believe that securing a 9-to-5 job for the long run is the only way you can live your life, or that you can retire inspired and live happily ever after on your social security pension only!

It’s never been easier than today to start your own business, so you’re missing the opportunity of your life if you don’t at least try that!

But how should you start?

Well, by not making one of “The Three Big Mistakes” which is how the second chapter of Wilkerson’s book is titled.

The mistakes are chasing someone else’s dream, chasing too many rabbits, and chasing dollars.

Wilkerson’s point here is that you shouldn’t try to be the next anyone because that way you risk detaching your own business from your real desires and dreams, ultimately falling down the same rabbit hole you were trying to climb up from.

In other words: if you don’t work the job you want, create the one you’ve always dreamed about!

Not the one which books say will most probably work, or the one which self-help authors claim will get you the most money.

As Simon Sinek so convincingly argued a while back, there’s only one place from which you should start building your company: its why.

Part three, “The Methods,” is where Wilkerson moves from the why to the how, or, in other words, from motivation to action.

Here she explains what the right mindset of success is and how personalizing a business means taking massive action.

However, actually masterminding it will probably mean doing at least one of two things: finding a good mentor and doing serious research.

After all, even the greatest of sportsmen can’t maximize their talents without a proper mentor – so, don’t act self-important and do find one.

The fourth part of the book – titled “The Models” – covers (quite fittingly) six different business models from which you can choose to develop your business practically from scratch.

The models discussed here are service based (i.e., the one based on using your skill set), expertise-based (coaching and consulting), knowledge-based (information marketing), goods-based (commerce or direct sales), and referral-based (commission or affiliate marketing).

The sixth model is not actually a business model in itself but a combination of the other, since, once you have at least one model firmly planted, nothing’s stopping you from progressing to multiple streams of income.

The fifth and final part of the book, “The Marketplace” is all about positioning and finding your right audience.

It tries to answer questions such as “who wants what you have?” “where will they find you?” and “where will you find them?” while also sharing some ideas to income and discussing how you can effectively build your audience.

Scattered throughout Wilkerson’s book, you’ll find many practical advises and case studies – “Barefoot Action Steps” and “Barefoot Case Studies” – in addition to numerous links to supplemental videos which should further help you understand Wilkerson’s message.

Which, ultimately, is really simple but extraordinarily powerful: if you don’t like your life, you can easily fix it.

Just remodel yourself:

Key Lessons from “The Barefoot Executive”

1.      Shatter the Myths of the Past Century – and Become Your Own Boss
2.      The Three Big Mistakes You Should Never Make
3.      The Five Business Models You Should Research

Shatter the Myths of the Past Century – and Become Your Own Boss

There are many unsubstantiated and/or obsolete myths which, unfortunately, have decided your life for you.

Some of the most frightening ones are the Myth of Job Security, the Myth of Tenure, and the Myth of Retirement.

These are all remnants of a past world which has nothing to do with the dynamic you-can-do-it-yourself age in which we’re currently living.

So, forget about them.

Start your own business and write some new myths for the new generations.

The Three Big Mistakes You Should Never Make

There are three big mistakes you should never make if (or, rather, when) planning to start your own business.

The first one should be an obvious one – but people do it much too often so that we can ignore it: chasing other people’s dreams. The point is to build your life around your very own.

The second one is chasing too many rabbits – because that way you probably won’t catch a single one.

Chasing dollars is the third one.

Money should always be just means to an end, not the end itself.

The Five Business Models You Should Research

Probably the most important part of “The Barefoot Executive” is the fourth one: “The Models.”

Here you’ll find five different business models you should research and the ways you can employ them and link them to your very own business.

These are service-based, expertise-based, knowledge-based, goods-based, and referral-based.

Finally, the sixth model is a combination of these, i.e., multiple streams of revenue.

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“The Barefoot Executive Quotes”

Why do you want to start a business? Why are you reading this book? Click To Tweet

The ‘why’ behind the money, the ‘why’ behind how you are changing people, the ‘why’ behind what you do is what you are really focused on. Click To Tweet

You are never going to work really hard just to have a lot of money. Click To Tweet

What motivates us is what the money can do or the cause it can support or the choices that money allows us to have. Click To Tweet

Take action, absolutely – but also keep learning and growing. Don’t ever be finished. Click To Tweet

Our Critical Review

If you want to find a one-for-all working formula on how to start a business and become a filthy rich person, “The Barefoot Executive” is not the book for you.

However, it can do you one better: it offers a comprehensive overview of the possibilities ahead of you while sharing with you all the motivation and inspiration you’ll ever need to finally get the courage to start of your own business.

Funny and stimulating, “The Barefoot Executive” is certainly one of the places where you should start pursuing your dream career.

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Lucky or Smart? PDF Summary

Lucky or Smart? PDF Secrets to an Entrepreneurial Life

Could it be that billion-dollar-worth entrepreneurs have been merely lucky?

Or are they – as the media would have you believe – much smarter than you?

Maybe it’s both?

Bo Peabody, a successful entrepreneur himself, answers the question from his own experience.

So, find out whether he was “Lucky or Smart?”

Who Should Read “Lucky or Smart?”? And Why?

Luck is a big part of business life,” says Bo Peabody, “and perhaps the biggest part of entrepreneurial life.

Not something you’d expect to hear from an entrepreneur dubbed “brilliant” by the press of the 1990s.

Well, that’s why Peabody wrote this book.

And that’s why you – first-time entrepreneurs, startup founders, Steve-Jobs-wannabes – should read it right away.

 Bo PeabodyAbout Bo Peabody

Bo Peabody is an American entrepreneur and venture capitalist, currently the owner of Renzell and a Venture Partner and Entrepreneur-in-Residence at Greycroft Partners.

Back in the 1990s, he founded tripod.com, one of the earliest dot-coms and, at one time, the eight most visited site on the Internet. Afterward, he founded at least five other companies – all of them successful.

“Lucky or Smart?” is his only book so far.

“Lucky or Smart? PDF Summary”

In 1992, Bo Peabody was a 21-year old student at Williams College, with a relatively simple idea: to use the emerging Internet technology to create an online community for college students.

So, he teamed up with a college classmate named Brett Hershey, and one of his professors, Dick Sabot, and build tripod.com, a “hip Web site and pay service for and by college students.”

It may not seem that hip today, but back in the 1990s, it was one of the hippest things you can think of!

Especially after Peabody – who was the company’s CEO – realized that people used Tripod’s Homepage Builder much more than anything else and pivoted the company in a new direction.

So, by 1996, tripod.com had transformed from “a ‘practical advice for students’ website” into a webpage-creator, with an idea “to build a community through user-created and user-based content.”

So, consider tripod.com the WordPress of the 1990s!

After receiving an initial investment of $3 million dollars from NEA, in 1997, Tripod collected $10 million more, and by the end of the year, it numbered 40 employees and all but million registered members!

Even so, it never posted a profit, and “generated barely any revenue.”

Be that as it may, on December 30, 1997, in exchange for Tripod, Peabody was offered $58 million in stocks of a publicly traded company named Lycos.

The very next day, Peabody agreed to sell, consenting to a lockup which forbade him to sell his Lycos stocks for two years.

The lockup clause turned out great:

In two years, the value of the stock increased tenfold.

And at the height of the dot-com bubble and just a few months before the market crashed, on the very last day of 1999, Peabody sold nearly every share of his Lycos stock.

What did he do with the money?

Taking advice right out of Buffett’s, Lynch’s and Munger’s book of no-tricks, he invested it in bonds and real estate – because he needed a house, but also because these were “the only two investment vehicles [Peabody] could thoroughly understand.”

Don’t forget the most important part of this story:

At the time, Peabody was merely 27 years old!

So, was he some kind of a genius – or did he get lucky?

“In response,” he writes,

most people give a two-part answer: they recite the trite adage ‘I’d rather be lucky than smart,’ and then they sigh and say, ‘Well, you know, it was a little of both.’

I give a different answer:

‘I was smart enough to realize I was happy.’

And that’s the right answer.

In our opinion – it’s also a great answer!

And it’s the main lesson from this very brief (originally correctly subtitled “Fifty Pages for the First-Time Entrepreneur”), but ultimately very rewarding book!

Namely – that in business, people tend to confuse being lucky and being smart, even though sometimes their success is the equivalent of finding $20 on the street!

You should not do that: your job is to be humble and keep your ego in check.

With that being said, there are some things you can do to force your luck:

#1. Found a company which is fundamentally innovative, morally compelling, and philosophically positive.

These are the companies around which smart people who work hard gather – and, you know what they say, the harder one works, the more luck one has!

#2. Practice blind faith.

When one starts something fundamentally innovative, one is bound to get one or two thousand “you’re crazy” along the way. Loving your startup and believing in it blindly will do the trick – otherwise, you’ll give up the moment the first obstacle arises (and there will be hundreds).

#3. Learn to love the word “no.”

Nobody hears the word “no” more than entrepreneurs; consequently, nobody should accept it less.

When his college application was rejected, Peabody rang the assistant director of admissions and told him that he “reject his rejection.”

He worked with him on a year-long program to fix the faults of his application, and, lo and behold, the following year he got in!

#4. Don’t believe your own press.

The press likes the story of the Jobs-like CEO – the genius capable of transforming the world in an hour. And so – it sells this story to the public.

It’s not the true story, however.

In the case of Peabody, he sometimes worked 100 hours a week, even though, based on what people read in the newspapers and watched on TV, he was a skiing-going CEO-slacker who couldn’t care less about work.

So – once again –

#5. Know what you don’t know.

Don’t let others fool you.

A large part of success comes from luck.

Don’t be smart about things you don’t know.

It may cost you a fortune!

Key Lessons from “Lucky or Smart?”

1.      Entrepreneurs Are B-Students, Managers Are A-Students
2.      Understand the Difference Between Being Lucky and Being Smart
3.      Keep Your Ego in Check at All Times

Entrepreneurs Are B-Students, Managers Are A-Students

There’s a reason why Warren Buffett never manages the companies he buys.

In Bo Peabody’s opinion, that reason is very simple: because entrepreneurs and managers live in two different worlds.

While the former are born and not made – the latter are made, and rarely born.

Bo Peabody was an entrepreneur even at the age of 10 when he was mowing other people’s lawns for some extra cash.

However, he always knew that he was only great to start things – a sort of a Jack-of-all-trades – not to manage them.

With some notable exceptions, this is almost always the case.

So, if you want to be an entrepreneur, be aware that a large part of your job is to attract and motivate the best managers.

Understand the Difference Between Being Lucky and Being Smart

Most startups end up unsuccessful because entrepreneurs fail to realize the difference between being lucky and being smart.

In the opinion of Peabody, this is the “one overarching theme that ties all of [his] observations together,” the one thing he is “absolutely, completely, one hundred percent sure you should take heed of, and never forget.”

So, you can ignore all of his other advices – but don’t ever overlook this one.

Keep Your Ego in Check at All Times

Ego – as useful as it can sometimes be – is your enemy to understanding the difference between being lucky and being smart.

It’s what may tempt you to believe your own blown-out-of-proportions press.

It’s also what may stop you from turning over your company to more capable managers or lead you to ignore the advices of people who are smarter than you.

In a nutshell: more often than not, your ego is your enemy.

Keep it in check.

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“Lucky or Smart? Quotes”

If your idea is big enough and crazy enough, all you have to do is survive. If you survive you will succeed. Click To Tweet

Luck is a part of life, and everyone, at one point or another, gets lucky. Click To Tweet

Luck is a big part of business life and perhaps the biggest part of entrepreneurial life. Click To Tweet

The number-one killer of start-ups is when entrepreneurs confuse ‘being lucky’ with ‘being smart.’ You must possess the humility to distinguish one from the other. Click To Tweet

Was I lucky? You bet your ass I was lucky. But I was also smart: smart enough to realize that I was getting lucky. Click To Tweet

Our Critical Review

“Lucky or Smart?” is one of the most honest books ever written by an entrepreneur.

Most will toot their own horns and tell you that they had great ideas and were brilliant all the way.

Peabody says something that rings far truer: he was smart enough to realize that he was lucky.

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Angel PDF Summary – Jason Calacanis

Angel PDFHow to Invest in Technology Startups

Do you have any doubts regarding the procedure to invest in a technological start-up?

Perhaps it’s time to remove the reluctance on the ground that you can’t cope with the financial weight.  

We encapsulate Jason’s fundamental beliefs and concepts, in which he presents his position.

Who Should Read “Angel”? And Why?

This book is best-equipped for those, who believe that they are destined to be a failure, underachievers, mediocre employees and so forth.

Angel will remove your self-imposed boundaries and put you in a better mood. Another key point worth mentioning is Jason’s controversial and yet practical approach.

On the negative side is his overly expressed “combativeness” and on the positive side is that fighting spirit that he nurtures.

About Jason Calacanis

Jason CalacanisJason Calacanis is lauded as one of America greatest Internet entrepreneurs, born on November 28, 1970. Before creating Weblogs and selling it to AOL, he was the CEO of Rising Tide Studios.

His ventures in the dot-com era made him the person he is today, an individual who possesses the skills to capitalize on any business adequately.

“Angel PDF Summary”

We can’t do anything else but endorse the fact that Jason Calacanis didn’t receive enough credit for his actions and achievements. On top of that, his practices also were the subject of many ongoing debates. Even so, he summoned up the courage to dove into the world of angel investing.

Indeed, Calacanis don’t have “noble” origins, instead, he grew up in a middle-class family. What comes as a surprise to anyone, is the ability to develop into a real “medalist” who beat the odds and set new boundaries.

During his college years, he went from underdog to superdog; a student who broke the ice with a rocket ship.

In the internet era, he grabbed success by the scruff of its neck. As the founder of Weblogs, he managed to launch a series of operations, which eventually increased the value of the firm.

Only 18 months later, AOL purchased the company, leaving Jason exposed to angel investing – and that’s what he did.

Angel – investing accentuating the whole broader look of how to allocate your capital. This book doesn’t put a strain on the process and invites you to indulge in risky moves and adventures. Your background or current position doesn’t serve as an excuse to go into hiding.

Calacanis’ framework of success, includes the ability to gauge the competitiveness, evaluate the intensity of deals, and to provide a backup solution. In essence, Jason advocates for finding ways to optimize the ROI, and thus reach a higher value.

Let’s say that you are not comfortable with the idea of making big decisions. Angel, understands your perspective and presents many ways to overcome that investing hesitance and awkwardness.

Even if all these big financial terms seem vague; Angel is not an ambiguous book, and its strategy is designed in compliance with the needs of ordinary people.

Jason “floods” the market with an abundance of metrics and tips on how to make trade-offs between risk and success. This prompts you to take a closer look at Angel’s paradigms, and as a “rookie” in the realm of investments, you need a guiding hand to help you get to the top.  

The primary emphasis falls on reaching deals, and the prowess on the investment arena. If you think you’ve got what it takes to set a new mentality in motion, this book comes as a blessing to you.

Then again, it’s not about being mistakeless, but about having and finding that adventurousness to cope with big challenges.

When it comes to the end goal – Jason Calacanis makes it crystal clear that without criteria and metrics, it’s literally impossible to evaluate or measure the successiveness of your endeavors.

Calacanis once again places in the spotlight the smaller players and jumps on the bandwagon himself. He campaigns for granting access to investors in terms of deals and data so that they too can fully exploit the investment capabilities on the market today.

In addition, the author puts an accent on diversification, as the most critical tool for avoiding financial breakdown.

Calacanis is not the type of guy that is likable by the vast majority of people. His aggressiveness on the “field” makes him a marksman, who is launching the arrow to hit the target. He allows the arrow to slip through his fingers gently.

The idea is don’t be too weak because you’ll never reach the desired destination, nor too strong, that way you’ll break the arrow.

Whether you like him or not, he has got a point. We, on the other hand, close your eyes to the window of endless opportunities, due to fear, superstition, regret, etc.

Key Lessons from “Angel”

1.      Accept change as an integral part of the growth
2.      Design a blueprint and don’t deviate from it
3.      Read and learn

Accept change as an integral part of the growth

The progressive society is prone to change, and doing something other than embracing that inconsistency, is a one-way ticket to imminent disaster.

Your job would be to find that aggression that can only be matched by a dose of superiority! Be flexible about the methods and embroil in rivalries.

Design a blueprint and don’t deviate from it

What generally matters is the skill to identify which securities are worth investing in. Do you have any plan, if you don’t why is that? You determine your status; don’t take no for an answer!

Understanding how the market works is a long and exhausting process, which can only be achieved through practice and experience.

Read and learn

If at some point, you think that you know it all, be prepared for an instant crash.

You have to be eager to expand your horizons, to broaden your understanding, and to embark on new missions to find hidden gems of knowledge.

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“Angel Quotes”

Airbnb is a much more effective protest than shutting down the Brooklyn Bridge. Click To Tweet These days, headlines are trying to get you to click. Click To Tweet Near-death experiences give you balance. You become worldlier. Your ideas become bigger. Click To Tweet

Our Critical Review

The book is filled with insights and tips, that can convert any knowledgeable person into an all-around decision-maker.

As such, Jason makes sure that all pieces of advice are applicable and most importantly effective.

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Lean Analytics Summary

Lean Analytics SummaryUse Data to Build a Better Startup Faster

Do you want to start your own business?

Before you do, read the advice that follows. It will make your path so much easier.

Who Should Read “Lean Analytics” and Why?

“Lean Analytics” is a guideline that will show you how you can successfully build a startup from the ground up.

It focuses on how you can gather and use data, expressing it through effective metrics, that will help you evaluate your current position and help you grow your business.

We recommend it to all readers interested in starting their own companies, or those who are already managing a business and would like to find a rational approach to doing it successfully.

About Alistair Croll and Benjamin Yoskovitz

Alistair CrollAlistar Croll is an author, speaker, and an entrepreneur.

Benjamin Yoskovitz is a speaker and entrepreneur. He is mentoring several start-ups.

“Lean Analytics Summary”

Nowadays startups are such a big deal.

But what exactly is a startup?

Startups are organizations which are created with the objective to build a sustainable business model.

If you have wished to open up a startup yourself, you need to gather data.

In fact, data is crucial to any business – it is numerical information that shows you the behaviors of your customers, your profits et cetera.

If you are an investor, you would have to have enough data as well, in order to know whether your investment pays off.

Data is objective, and it does not allow one to delude him or herself. If you do not have evidence that your idea will work, can you really convince investors to put their money in it?

The biggest enemy to your start up’s survival is yourself. Believing too much in it is just as bad as not believing in your dreams at all.

Why?

Because too much passion and hope can make you see distorted images of the reality. You may see what you wish to see, and not what really is.

So, it is essential to stay real and rational.

This is the role of data – it helps you make better and wiser decisions.

Of course, we are not saying that you should blindly follow data. If you do not take a leap from time to time, you will never achieve excellence.

What you should be is data-informed, and then based on your knowledge you should take calculated risks.

We will not lie to you, data is essential, but sometimes you can fall into the trap of becoming addicted to analyzing it.

So, the best approach is always the balanced one. Do not become a slave to the information you gather.

Instead, use them and remember that they are just another tool for achieving your goal.

Up until this point we talked rather vaguely about the reasons why data is important, didn’t we?

Let’s take a closer look: what can data tell you?

Data should pinpoint the right market and the right product you should focus your attention on.

It will show you the preferences of your customers and their buying behavior. It is also a tool which you can use to measure your success and express it in numbers.

But, in order to be effective, all data needs to be expressed in good metrics.

Good metrics share three characteristics: they are understandable, comparable, and are effective when shown as ratios.

So, people should be able to understand and remember the metrics. You do not want to spend too much time on deciphering data.

It needs to be simple and easy to grasp for everyone that sees it.

Next, good metrics allow you to compare different groups of competitors, consumers, time periods et cetera.

Lastly, good metrics are best used as ratios. Ratios are comparable and easy to act on.

Okay, now that we discussed data, we can move on to the start-up development process.

The Lean Analytics framework argues that startups progress moving through five different stages: empathy, stickiness, virality, revenue, and finally – scale.

Empathy is the stage where you identify the prospective customers’ needs. This is the stage in which you find out the direction you will be working towards.

The next stage is the one where you find the way you can satisfy those needs, and make your customers pay for the solution.

The virality stage is the building stage, where you actually construct a product.

Furthermore, in the revenue stage, your business matures and grows.

Lastly, in the scale stage you are trying to scale up, or in other words, enter a new market or expand in the current one.

Each startup goes through all of these stages. If it is successful, it will reach the final stage, where it will start resembling a bigger company more than a startup.

To develop your business, you can use different business models.

For more on business models and additional tips on building a successful startup, refer to the full book.

Key Lessons from “Lean Analytics”

1.      Do Not Become a Slave to Data
2.      The Five Stages of Startups
3.      Find Good Metrics

Do Not Become a Slave to Data

Do not become too obsessed with analyzing data. What you want to accomplish is to be data-informed, but not become a slave of data.

The Five Stages of Startups

  • Empathy
  • Stickiness
  • Virality
  • Revenue
  • Scale

Find Good Metrics

Use good metrics that can help you evaluate your position and determine the course you need to take in order to succeed.

The best metrics are expressed in percentages, they are comparable and understandable.

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“Lean Analytics Quotes”

Don’t just ask questions. Know how the answers to the questions will change your behavior. In other words, draw a line in the sand before you run the survey. Click To Tweet Don’t sell what you can make; make what you can sell. Click To Tweet Your job isn’t to build a product; it’s to de-risk a business model. Click To Tweet A startup is an organization formed to search for a scalable and repeatable business model. Click To Tweet If you’re going to survive as a founder, you have to find the intersection of demand (for your product), ability (for you to make it), and desire (for you to care about it). Click To Tweet

Our Critical Review

“Lean Analytics” will show you the right approach to evaluate both your online business, as your brick-and-mortar one.

It focuses on metrics and how you can use them in ways that they will serve you, instead of you becoming their slave.

We believe that all people involved in business in some way can make a use of this book.

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Smart People Should Build Things Summary

Smart People Should Build Things SummaryHow to Restore Our Culture of Achievement

Do you know what smart people do?

They build things.

Read on to find out how.

Who Should Read “Smart People Should Build Things” and Why?

Big companies are not the drivers of economic progress. Instead, startups are pushing the world forward.

So, instead of securing a job with many benefits at a big company, smart people should follow another direction: become the innovators of tomorrow.

We recommend “Smart People Should Build Things” to all students who are contemplating about their future career choices, as well as those wanting to know why students want to work in big companies, and how this world can correct this wrong tendency.

About Andrew Yang

Andrew YangAndrew Yang has a background in startups and is the CEO and founder of Venture for America.

“Smart People Should Build Things Summary”

After years of diligent studying, every student has to make a decision about the path they are going to take after finishing their studies.

Where should they head to? Where should they start?

What kind of job should they look for?

Sadly, many colleges nowadays, the elite ones most of all, limit their students’ worldview and position them to look only in one direction: big, professional service companies.

Statistical data shows that most elite school graduates decide to work in finance, law or management consultancy firms.

Why?

Because they believe that these professions will bring them money and prestige – and that is what they are after.

Moreover, elite colleges prepare their students for the hard application process that these companies use to pick their future employees – the application for elite schools is equally as challenging.

Hence, these students do not have a hard time to get a place in their wanted companies, so why shouldn’t they?

Let’s not mention that all of their friends also apply for such jobs, so it is only natural that they do as well.

These companies promise them money, benefits and learning experience that they could get nowhere else.

However, despite the fact that all that we mentioned above sounds like a “dream job,” the reality is that not everyone is ready to work in such a company.

These companies do give some sort of security and benefits, but they do so at a certain price.

Usually, the workload employees have in such companies is immense, and the environment is highly competitive.

As a result, these companies attract a large number of applicants, but the turnover is big as well.

Employees are used to seeing their colleagues come and go, which makes it hard for them to develop lasting friendships, makes them constantly stressed that they will be the ones who go next, and can leave a mark on their wellbeing and happiness.

You might think that if you do not feel good in a good company, you will move to a smaller one, right?

Well, that is not as easy as you might think.

Big companies make their employees used to high salaries and other benefits, which small companies do not offer.

Just imagine the shock one receives after they lose the status that they once had, and has to start anew. Can you think of all the adjustments to the lifestyle he or she has to make?

However, that is not the only problem.

Small companies actually need employees with different approach and skills to their job. They need to get things done and get to actual solutions to their problems.

Professional service firms, on the other hand, practice a more theoretical and analytic approach.

Finally, just like in every other area in life, startups use networking as a primary recruiting source, so they usually just hire people from their own network and do not reach out to big companies.

Why are we telling you all of this?

Because you need to think if you really want to work in a big company in the long term. If you do not see yourself in such an environment, it may be easier for you if you do not get into the “race” at all, and follow a different path.

In fact, we encourage you to take a different approach.

Let’s say: start your own business.

Sadly, being smart and graduating from a good school does not mean that you will be a good businessperson.

Thankfully, you can learn how you can succeed.

What is the process that will inevitably lead you to success?

Well, it all starts with extensive preparation.

First, do thorough market research: know your competitors, know your potential customers, and know their needs.

Next, build your online presence – no company can survive without it in today’s environment.

Finally, get the people close to you excited about your idea, and reach out to investors, co-founders, and staff.

Of course, these are just the preparatory stages.

Building your own business from the ground up is not an easy task, but we assure you, it is worth the effort.

For the detailed approach, read this book and find out why smart people build things, and how they do it successfully.

Key Lessons from “Smart People Should Build Things”

1.      Most Graduates Choose their Careers for the Wrong Reasons
2.      Big Firms Imprison Elite College Graduates
3.      Big Companies are Not That Beneficial to the Economy

Most Graduates Choose their Careers for the Wrong Reasons

Only a small percentage of the elite college applicants get into their schools of choice.

Sadly, the lucky few choose their careers for the wrong reasons. Most students follow a direction in which they believe money and status await.

Big Firms Imprison Elite College Graduates

The firms everyone wants to get into, pressure college graduates to either progress and get promoted, or leave the firm.

However, it is too hard to leave these companies, since they offer all the benefits anyone could ask for.

So, what is left for employees is to work night and day and try to stay “alive” another year, and then another, and then another.

Big Companies are Not That Beneficial to the Economy

Contrary to what you may believe big companies are not the central pillar of a healthy economy. If you want to know who drives the economy forward, startups are your answer.

The problem is that big companies take up a significant market share and do not allow for many startups to develop.

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“Smart People Should Build Things” Quotes

It wasn’t until I got to the law firm that things started hitting me. Click To Tweet It seemed kind of ridiculous to me; what the heck had I done to deserve that kind of money? As you can tell, not a whole lot… Most worrisome of all, my brain started to rewire itself after only the first few months. I was adapting. Click To Tweet Organizations give rise to other organizations like themselves. Click To Tweet I wanted a position that required broad management in a growth enterprise that was doing something I could get excited about. I wanted to be an owner and to be committed to helping a team achieve its goals. Click To Tweet Basically, I wanted to build something. Click To Tweet

Our Critical Review

An excellent book that will help everyone understand the job market reality and make better career choices for the right reasons.

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Startup Growth Engines Summary

Startup Growth Engines SummaryCase Studies of How Today’s Most Successful Startups Unlock Extraordinary Growth

The best way to learn is to look at the success stories and find the things they have in common.

This is exactly what we do in the text below.

Who Should Read “Startup Growth Engines” and Why?

We have all heard about those companies that became world-known names overnight.

“Startup Growth Engines” considers these companies and explores the things they have in common: using growth hacking.

If you want to succeed in the modern marketplace, learn how to use different growth techniques and business models, as well as get better at creating viral marketing campaigns, then this is the book you should pick up from the shelf.

About Sean Ellis & Morgan Brown

Sean EllisSean Ellis is an investor and entrepreneur with a rich knowledge and experience in start-ups. He frequently publishes with The Wall Street Journal and Entrepreneur Magazine.

Morgan BrownMorgan Brown is a digital marketing specialist.

“Startup Growth Engines Summary”

Most of you who are now reading this summary, have heard about the Silicon Valley and the many successful startups it is home to.

However, you might not know how successful actually these companies are.

If you look at the figures, you will be truly amazed!

In just a short period, Silicon Valley startups attract millions of customers and generate billions of dollars profit.

The growth of these companies cannot be compared to the traditional economy – it is much faster.

In fact, these companies purposely avoid traditional marketing techniques and use what is now known as growth hacking.

Growth hacking focuses on maximizing growth and can be used in any sector.

Do not confuse it with formula, since there is not one single “right” way for successful growth hacking.

What it does it combining multiple factors (statistics, data and a whole ton of creativity) that assure attracting new customers, retaining them, and generating revenue through them.

But where do you begin?

You will not be surprised by the answer  – you have heard it many times before: you begin with a problem.

One thing about businesses never changes, at it never will: a business solve a problem the customers are having, thus offering them value.

But, how do you find the problem that is worth building a business around?

You do not have to think too wide, just observe your environment.

Look at your own life, and at the life of your friends. Notice the common problems you run into.

Even mundane issues are a good basis for business, since probably everyone has them, and the best kind of issues for building a business are those that affect a wide range of people.

Another strong point of looking for a problem in your closest surrounding or your own experience is that you will have the chance to be your own first “customer.”

In other words, you will be able to test and evaluate your product or service and see if it meets all of the customer expectations.

Once you are past the stage of finding a problem, you need to develop a slow and steady growth strategy.

Do not make a mistake many people that get passionate about their ideas do and want to start big immediately.

Instead, start slow, from your surroundings, just as you did when you were looking for your idea.

Then, you will steadily stretch to new markets.

Why is this important?

Because when you focus all your effort in satisfying the customers in one specific niche market, you will be able to gain positive momentum by building a good word-of-mouth reputation for your business.

A focused effort is the best way to succeed.

Usually, when companies start, they use a few models that seem to work for them.

First, you can try out the freemium model, which is actually offering a no-cost service, that will turn into revenue.

In other words, you offer your customers a free “taste” of your product and give them an option for an upgraded version for a fee.

Another thing you can do is to offer free content to the public to generate revenue.

Through this approach, you will be able to gather information about your customers and keep their attention for when they are ready to pay for your services.

Of course, these approaches will not work for everyone and come with a risk which we will cover in one of the key lessons below.

Key Lessons from “Startup Growth Engines”

1.      Start Big and Small at the Same Time
2.      The Freemium Model Comes with Risks
3.      Offer a Free Tool to Get People’s Attention

Start Big and Small at the Same Time

Do not get too excited by your ideas, and do not let your passion blind you. Starting too big is not a good way to start. Instead, opt for a narrow market niche and a significant market share in it.

That way you will secure generating good word of mouth in your local environment that will lay out the groundwork for your future growth.

The Freemium Model Comes with Risks

Many companies use the freemium model, and you can experiment with it, but it is vital that you remember that the whole purpose of giving things for free, is making people want to upgrade and pay for the premium version.

The product that you offer for free should be easy to use and learn in a short time since people will not invest too much time and effort into something they did not pay for.

If you are not sure that customers will be interested in getting more from you, then this model will not work for you.

Offer a Free Tool to Get People’s Attention

Another thing you can do is to offer a free tool that will answer some of your customer’s problems.

Again, do not forget that although you will get noticed by doing this and you will have the opportunity to gather information about your customers, the purpose of giving away free stuff is to make revenue later on.

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“Startup Growth Engines” Quotes

If you take the lowest common denominator approach using cross-platform stuff, you by definition create something that’s average. Click To Tweet Growth is not just a concern of sales and marketing, but of product, engineering and support too. It is this organization-wide commitment to growth that ultimately sets these companies apart. Click To Tweet Uber has taken what could be seen as a massive business hurdle—litigation—and turned it into an asset that drives growth. Click To Tweet Growth hacking is not anti-marketing, it is the evolution of marketing, it is pro-growth. Click To Tweet We’ve learned it’s much better to ship it now and fix it later, once you can see how people are using it, than it is to let it linger in development forever. Just ship it. Click To Tweet

Our Critical Review

This is a great book for those who already have a product or service that they would like to offer to potential customers.

Those that have not found a problem they can solve just yet maybe should postpone the reading of this book for when they do.

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Side Hustle Summary

Side Hustle SummaryFrom Idea to Income in 27 Days 

Do you have an idea that you think you can turn into a profit, and you are wondering if you should quit your current career and become an entrepreneur?

Wait. Do not quit your job just yet – there is a possibility to have the best of both worlds!

Who Should Read “Side Hustle” and Why?

“Side Hustle” is a guide that explains how anyone can create a side project that will serve as an extra source of income, without losing the stability and perks that come with holding onto your day job.

We recommend it to everyone who wants to have a taste of entrepreneurship, without bearing too much risk.

About Chris Guillebeau

Chris GuillebeauChris Guillebeau is a bestselling author, a regular contributor to Business Week, CNN.com, and the Huffington Post, and an expert on international travel and creative self-employment.

He recently managed to accomplish his dream of visiting every country on the planet.

“Side Hustle Summary”

We will not even ask you how many times you have wished to quit your job and become your own boss.

We will also not ask you how many times you have heard such advice or stumbled upon motivational articles urging you to do that since we are sure that there have been many such instances.

However, following such thoughts comes with a risk, and you know it.

In reality, not everyone can handle risk and be a successful boss.

Yet, it is important to try.

So, what can you do?

Well, you can have the best of both worlds by becoming a side hustler!

Yes, you have heard us, you can satisfy your entrepreneurial urge while at the same time keeping the benefits of a safe and steady job.

But first, let’s define what we mean by “side hustle.”

A side hustle is a profitable business venture, which you operate part-time, as a complement to your other paid job.

A side hustle does not require much time or energy invested in it – only the bare minimum.

Side hustles are great, since they provide extra security, by letting you harvest income from several different sources.

We are all aware that the days of holding one job for a whole lifetime are long gone, and that extra security is what everyone needs.

A side hustle can also make it easier for you when you decide to change jobs, or even if you want to rest.

Why are side hustles so good?

Because you can get a taste of what it looks like being an entrepreneur, while not bearing the risks that come with starting your own business without any security.

Also, side hustles are jobs which are very easy to do and hence very easy to start.

But what exactly can be a good side hustle?

Well, all hustle worthy ideas that you should take into consideration should be feasible, persuasive and profitable.

Once you do find such an idea, calculate your projected profit by employing the following formula: “anticipated income minus anticipated expenses.”

In other words, to be sure that your hustle is profitable, your expenses need to be lower than the money you bring in.

Once you are sure your idea will make you money, it is time you pitch it.

You do this by making a promise to your customers that you will in some way contribute to changing their life.

Be bold when you make such statements, create a sense of urgency, and employ a call to action.

A good technique for creating a sense of urgency is using the red color, which is usually mentally linked to deadlines and countdowns.

Also use words such as “today” or “now.”

We live in a wired world, and in order to be successful, you will first need a website and a social media profile.

Be careful not to spread on too many social media platforms since it can be a daunting task.

Instead, limit the number to two or three.

Also, think about a scheduling tool, which will save you time, a factor that is crucial when it comes to side hustles.

Finally, set up a payment system before you launch.

Once you do all of the above, you need to start increasing your value in order to generate more money.

You can create value by anticipating your customer’s needs and responding to them.

Lastly, as your side hustle gets more successful, do not be afraid to raise the prices. The more reliable your business proves, the more you should charge.

That is why you should regularly raise the prices you charge, as well as the value you offer.

Remember, since you are starting without much risk, the only way you can go is up.

Key Lessons from “Side Hustle”

1.      Criteria to Check for When Evaluating Your Side Hustle
2.      Transform Your Idea Into A Pitch
3.      Side Hustle’s Basic Requirements

Criteria to Check for When Evaluating Your Side Hustle

When you are evaluating your side hustle, you need to ask yourself three questions.

First, is your idea feasible? If it is, move on to defining if it is profitable. In other words, you have to make sure that your idea brings in more money than you spend. Finally evaluate if it is persuasive, or if customers would like to have it no matter what.

Transform Your Idea Into A Pitch

When you pitch your idea, it is essential that you promise some kind of value to your customers and create a sense of urgency. Include a call to action as well and clearly state the price.

Side Hustle’s Basic Requirements

In order to make your side hustle work for you-you have to have four basic items up to your sleeve: a website, a social media profile, a scheduling tool and a payment system.

After you have set this up, you can start making money immediately.

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Our Critical Review

This is yet another of Chris’s helpful manuals that will show you exactly how you can turn your small idea into a profitable extra source of income.

It is a book that even total beginners in this area can follow easily, and the fact that you can immediately start practicing the advice it gives you makes its value immeasurable.

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The Personal MBA PDF Summary

The Personal MBA PDFMaster the Art of Business

Running a business has always been the most intriguing part of one’s professional enhancement and development.

However, not all companies reach the climax stage.

At this moment, we take into account many elements that may improve or reduce your chances of making your business work in the long run.

Who Should Read “The Personal MBA”? And Why?

The Personal MBA” is indeed a breathtaking book that is filled with tips and suggestions for those willing to manage or operate with different resources.

Don’t hesitate to take your entrepreneurial skills to the next level and learn more from experienced and successful business people.

About Josh Kaufman

Josh KaufmanJosh Kaufman is a business expert, consultant and a coach who helped many start-up companies in their endeavors.

He offers expert services to those in need of business guidance, to get more things done in a shorter time, and improve their financing strategies.

“The Personal MBA PDF Summary”

Are you eager to embark on a new adventure? Do you have a great idea? Eager to make money? Well, take a deep breath and start examining your options.

Many people opt for enrolling at a business school but is it really the break you’ve waited for, let’s find out!

As it turns out, Business Schools are far from cheap, and according to advanced calculations, the accumulated cost can reach up to $300,000.

However, do we at least get something in return, experience or education perhaps that exceeds this price? We sincerely doubt that!

Now, that is evident that you’ll waste a lot of money and get no results, what should you do? – Clinging to factless strategy can prove to be devastating, so in order to get your business flourish, one must stick to a well-designed blueprint.

Are you in it for the money? – You might want to change that.

On the long run, no business can overcome all obstacles if the CEO has no passion for the company itself.

Being in tune with the environment requires defensive resilience to cope with the challenges that lay ahead.

Once you made a secret pact with yourself, that you’ll continue to push forward until all your hopes are alive, you can then focus on investing.

So, finding the investors willing to put up the cash in advance, it’s a risky move for all parties involved.

Leverage your investment! Use loans to increase your influence but beware of hidden financial dangers. Take into consideration every possibility, before taking such drastic measures.

Every successful business, no matter the size or influence, must focus to please its Ideal Buying Persona.

According to Nitin Nohria and Paul Lawrence, there are basically four requirements that pretty much appeal to all humans.

  • The first one represents the desire or the pull to become a valuable member of some community, gain status or respect.
  • The second desire symbolizes our longing to feel loved and appreciated by others.
  • The third one, speaks on behalf of our unsatisfied thirst and hunger to expand our field of knowledge.
  • Fourth, the urge to feel safe and secure.

If your goods or commodities meet these needs, you are all set to launch the brand-new product, right? – Well, we are not quite there, yet.

Although nowadays, we can engage our potential customers through hundreds of online/offline channels; that doesn’t facilitate the processes of getting their attention.

The Free Market tends to unchain these individuals and allow them to pick their favorite products, without any interference, but that’s a nice story.

If you have a score to settle with your competitors, do it openly on the digital battlefield because that’s the only way to provide quality service.

Take testimonials, for example, original illustrations of satisfied customers is an excellent trick for luring new customers into checking your offers and establishing a bigger base.

So, how to convert those passing customer into long-term associates?

In all honesty, there is not one all-encompassing formula that works well in every industry.

However, you can apply the good, old-classic mind-game, and understand what adds to clients’ aversion towards your product.

Usually, the price is the most talked-about attribute!? – If it’s so, you should adjust your product offer, and prove your customers wrong. Give them a test period, with a full refund if they’re not pleased.

One huge mistake salespeople have a habit of making, is becoming too aggressive in their campaign.

Encourage interaction, make your customers come to you, not the other way around. If they feel cornered, there’s a good chance that they’ll drift off.

How to discuss business deals with other companies?

B2B is gaining momentum in the 21st century, but due to intense competition, companies are struggling to get their hands on “wealthy” associates.

Taking into account several factors before an agreement can be reached, is an advisable strategy in the digital age.

  • Make sure that the person on the other side is a valuable member of the operation and an individual with authority.
  • Set a meeting on your turf, an environment that you feel most comfortable in (via phone, in person, online session).
  • Prepare yourself by conducting research and necessary testing to collect data, such as finding more about your competitor’s offer and provide counter-arguments.
  • Anticipate possible reaction and sub-questions.
  • Start negotiating

How often do we trip on the last step – Implementation?

Don’t act with superiority, let them know that you share their concerns and strives.

Good leaders are hard to find, but they are the ones who can make others grow and learn.

Key Lessons from “The Personal MBA

1.      Understand your priorities
2.      Don’t engage yourself in all spheres of influence
3.      Find a better route to success

Understand your priorities

Most people have little clue about the key elements and intentions when starting a business.

Make sure that all the other individuals who are working towards mutual goal and interest, must be informed about the long-term expectations.

Don’t engage yourself in all spheres of influence

Micromanagement is perhaps the most challenging part of the whole process.

In order to avoid full-control that takes both time and energy, you should lay out your intentions, and provide guidelines in various cases.

Find a better route to success

It has been proven on numerous occasions, that MBA doesn’t increase your chances of opening a chain of successful businesses nor getting a better position in a company.

It’s not synchronized nor in correlation with the idea of prosperity, as one may have hopped.

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“The Personal MBA Quotes”

Business schools don't create successful people. They simply accept them, then take credit for their success. Click To Tweet Every time your customers purchase from you, they’re deciding that they value what you have to offer more than they value anything else their money could buy at that moment. Click To Tweet Retired general Colin Powell famously advocates collecting half of the information available, then making a decision, even though your information is clearly incomplete. Click To Tweet Ideas are cheap—what counts is the ability to translate an idea into reality, which is much more difficult than recognizing a good idea. Click To Tweet There is only one boss: the customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else. Click To Tweet

Our Critical Review

By all means, this book undoubtedly deserves its bestseller status, on a global scale.

We are pleased to be a part of such amazing journey, driven by an amusing and informative piece of writing.

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Payoff Summary – Dan Ariely

Payoff SummaryThe Hidden Logic That Shapes Our Motivations

The only way to achieve your dreams is to persist.

And, the only way to persist is to continue being motivated.

What is motivation and what are the factors that drive it?

Read on and find out.

Who Should Read “Payoff” and Why?

To be successful, you have to persist.

Hence to achieve results, you have to be highly motivated.

“Payoff” explains the meaning and roots of motivation, as well as which motivation-inducing tools it is best to use.

After reading it, you will feel enlightened, you will finally understand yourself more, and you will know what to do the next time you face a lack of motivation.

We believe that this book is an excellent read for all people who have a problem with persisting in what they do or having a problem finding what they want to do.

About Dan Ariely

Dan ArielyDan Ariel is a best-selling author and a professor of behavioral economics and psychology at Duke University. He has founded The Center for Advanced Hindsight.

“Payoff Summary”

Today, many people work jobs they do not enjoy working.

They are looking at their professions as a way to make ends meet, and are unmotivated to become the best workers they can be.

Motivation, however, is the only thing that can keep you stick to your routine of going to work every day, year after year, without ending up extremely unhappy.

But, wait, everyone talks about motivation, but what exactly is it?

Many people would agree that the best motivator there is is money.

However, they could not be further from the truth.

Motivation is much more complex than people think it is, and it is a mix of pride, achievement, happiness, and many other factors.

Among all these factors, the most significant one is meaning.

Do not mix up meaning and happiness, like most people often do.

Meaningful work does not always bring happiness.

Many times people that do meaningful work do not do it because it makes them happy, but because it gives them a sense that they are doing something that counts.

This helps us arrive at the next conclusion: motivation does not depend on happiness.

But then, what generates meaning?

Most of the time, it is the sense that you are doing something bigger than yourself, that changes more than just your own life.

Repetitive tasks and jobs are contrary to those of meaning. Us, humans, after being faced with repetitiveness, simply quit.

We cannot find the meaning anymore after doing the same task over and over again.

On the other hand, performing activities that feel the meaningful build up people’s motivation. And the key to feeling that you do something meaningful is to feel the promise of achievement.

Another thing that contributes to creating meaning is an effort.

Tasks that you put your time, energy and effort in are more meaningful for you than those you did in a short amount of time, without investing yourself in them.

Next, let us not forget the ownership of the work as a major motivator as well. In other words, when people are given a chance to claim ownership, they feel more motivated, since they are standing behind what they did.

Also, when it comes to motivation, it comes from external and internal sources.

The most central motivator of all is the wish to achieve happiness.

Unfortunately, many people have wrong notions of happiness and the things that would make them happy.

They usually tie happiness to external motivators such as money.

However, these motivators can work only in the short time, while in the long haul people need something more: an internal source that will fuel their efforts and keep them going.

Only in instances when people find pleasure in doing something and are driven from within can they continue working hard toward their goals.

So, stop wishing for happiness that comes from bigger material possessions, and start finding it in small everyday things.

Even if your surroundings are not granting you with motivation, such as a “well done” from your boss, or a sense that you are doing something meaningful, try to find that meaning yourself.

Even in the most mundane tasks, find the things that they help you master, and think of them as only stepping stones to what you will achieve in the long run.

Be your biggest supporter and applaud yourself for every small achievement you make daily.

Key Lessons from “Payoff”

1.      Meaning and Happiness Are Not Connected
2.      Ways to Induce Meaning
3.      Motivation Must Come From the Inside

Meaning and Happiness Are Not Connected

Many factors define the levels of your motivation, but the core one is meaning.

If you find what you do meaningful, you will continue doing it, even in times when you do not feel happy.

That is right, happiness and meaning are not synonyms, and meaningful jobs do not make people feel happy, but still, they keep their motivation levels high.

Ways to Induce Meaning

A sense of meaning usually happens when people feel that they are working for a bigger purpose.

Also, when people put more effort into a task, more time and energy, they will consider it more valuable and thus more meaningful.

Motivation Must Come From the Inside

There are different motivators one can use to persist, but internal and external.

However, external motivators are just momentary and are not sustainable in the long haul.

For a long-term motivation, individuals have to feel motivated from the inside.

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“Payoff” Quotes

These results show that when we are acknowledged for our work, we are willing to work harder for less pay, and when we are not recognized, we lose much of our motivation. Click To Tweet The consultant experiment, I continued, showed that people dramatically underappreciate the extent and depth to which a feeling of accomplishment influences people. Click To Tweet It shows that when we work harder and spend a bit more time and effort, we feel a greater sense of ownership and thus enjoy more the fruits of our efforts. Click To Tweet A society without trust is not a society: it is a collection of people who are continuously afraid of each other. Click To Tweet The lesson here is that a little sweat equity pays us back in meaning—and that is a high return. Click To Tweet

Our Critical Review

“Payoff” is an excellent book on the topic of motivation, that can be read by any age group of readers.

Its biggest strength is that it is short and focused, it is easily read, extremely fun, and full of useful takeaways.

It is time you accomplished all of your goals!

We heartily recommend it.

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One Simple Idea Summary

One Simple Idea SummaryTurn Your Ideas Into a Licensing Goldmine

Having smart ideas for products and services that could satisfy a need on the market is worth nothing if you do not turn them into reality.

But how could you?

Don’t worry, we got you covered.

Who Should Read “One Simple Idea” and Why?

“One Simple Idea” is a book about turning your ideas into reality. We recommend it to all people who never acted on their ideas since they do not believe to be good at entrepreneurship.

You might be proven wrong, so give this book a chance!

About Stephen Key

Stephen KeyStephen Key is an author and an entrepreneur, who shares the secrets he learned during the successful implementation of more than 20 simple ideas, which generated him billions of dollars of profit.

“One Simple Idea Summary”

Have you ever had that moment when you saw a product and thought that you could do better than that?

Or, have you ever needed something and wondered why no one invented a product or service that would satisfy that need?

Many people have moments like that, however, those thoughts remain just thoughts since people believe that there are so many products and businesses in the world, that bringing a new product into the market would not be the smartest idea.

However, this is a wrong mindset.

Regardless of the economic soundness of the country, consumers spend money.

It is a fact that there are some products that consumers desperately need, and those that they find irresistible.

Good entrepreneurs know how to find these products and focus on finding the right way to offer and promote them.

To understand spending you have to understand that consumers are not motivated by the feeling of necessity, but by desire.

Vendors have a much easier time now to sell their products since they do not have to pay enormous sums and fight for shelf space, which also decreases their risk.

Also, they can connect with consumers more than ever, since social media allows them to communicate with their customers, find out their desires and needs, and ultimately target them better.

It is a fact that starting a business is not easy and can be scary, but entrepreneurship is something that can be learned.

And the first step to becoming one is having a passion for your idea, since passion fuels dedication and persistence (and you will need a lot of them).

However, if you decide to start your business, do not complicate things for yourself.

You would be surprised to find out how many businesses fail because the idea they started from was too complicated.

Do not try to be completely new – instead, find an existing idea and make a small but significant modification.

Known products and services are the best to start from since consumers are already acquainted with them, and you do not have to put extra effort to educate your customers about why they would need the product and how it can complement their lifestyle.

It is also much easier to find someone who will produce a known product at a reasonable cost.

Yet, the part “modification” is significant to note, since you want to introduce a known product with a “twist” that would allow you to target a completely different market niche.

The last point takes us to the next thing you have to keep in mind: the market.

In order to succeed in the market, you have to study it.

Analyze the target audience, the competitors, and the prices customers are willing to pay for specific products.

After you do all this, it is time you progress toward creating a business plan.

Business plans help with clearing up your purpose and vision, and project your expenses and revenues, ensuring you that your business will not plummet.

They also are an invaluable tool when looking for external financing, since they serve as promotional material for your business that the investors can evaluate.

After you finish the business plan, you are ready to start.

Remember what we said: start small, and start simple.

Do not take a too risky first step – you can even start by working from your own house.

You see, contrary to what you may believe, a business does not have to be a very costly investment.

It can be something small that you can slowly build up upon.

Of course, there are many more things to learn about businesses, but we will let you educate yourself about them by reading “One Simple Idea” from cover to cover.

Next, we continue with the short overview of the key lessons.

Key Lessons from “One Simple Idea”

1.      Keep Your Friends Close and Your Enemies Closer
2.      Use Referrals
3.      Know Your Audience and Tailor Your Products

Keep Your Friends Close and Your Enemies Closer

You know this saying right?

You should use this tactic in business as well.

One of the easiest ways to eliminate your competition is to stop thinking of them as opponents and partner with them.

Transforming your enemies into allies will save you a lot of stress, money, and time.

Use Referrals

Finding a good manufacturer for your product is crucial since it will be your name that stands on the product, and you will be responsible for any problems it may have.

But how can you get a good manufacturer as a newbie on the market?

Use referrals.

The major players you decided to turn into your allies instead of your enemies can help you with this part as well.

Know Your Audience and Tailor Your Products

It can happen that once you come up with an idea for a product, and it is a success, you will come up with many similar ideas later on.

However, you have to keep your ideas both suited for your audience and fresh at the same time.

You can do this by tailoring a product to suit a sub-audience in your current target group.

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Our Critical Review

This book promises much more than it accomplishes. It is a very theoretical book that describes hard work and persistence, which does not seem to motivate you to take any kind of action.

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