7 lessons from bootstrapping a $15m lifestyle business plan

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7 lessons from bootstrapping a $15m lifestyle business plan

We just hit 1. Which means I currently still own percent of my business. It did not happen fast.

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Mindvalley took nine years to build. Some years were fun. Some years were brutal. But the climb was hard and long. And I almost lost it all on multiple occasions. And I want to share some advice. Your college degree is meaningless and sometimes a liability.

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My GPA was just over 2. I just could not focus on my engineering classes completely. So what did I focus on in university? Volunteer work, traveling and working abroad, pouring through books on business and entrepreneurship, learning photography, and working with theater troupes.

I never got good at ONE thing. But having exposure to many different things helped give me an edge as an entrepreneur.

7 lessons from bootstrapping a $15m lifestyle business plan

If I was successful I might be trapped in a 9-to-5 job as an engineer. The best employees are specialists. The best entrepreneurs tend to be generalists. Instead, embrace the idea of a generalist education.

I majored in Computer Engineering and minored in Performing Arts. My best subject was digital photography. All, in retrospect, were smart decisions: Minoring in drama helped me learn stage presence and become a good speaker. Photography gave me an eye for aesthetics and design.

And volunteering allowed me to see the world and meet other cultures. Today it appears that everything I chose to study played a key role in my life and business success. Your college degree is meaningless. But the real problem happens when you start worrying about money.

You start second guessing your ideas.

How to Finance Your Business |

You stay up in bed at night worried about paying the bills. It provides security and cash flow till you can break even or get funding. The loneliness of striking it out on your own and the boredom of working at home for eight hours a day will get to you.

Juggle both till you have cash flow coming in that allows you to survive. I started my business on December 22nd, while still holding a day job.

I would work eight-hour days and then come home and put in another two hours on what would eventually become Mindvalley. My first goal was never to make a million dollars. I set a minimalistic goal that was within grasp.A business plan defines your business, identifies your goals, and serves as your company's resume.

It will help you arrange strategic alliances, obtain financing and attract key personnel. By planning for success, you will be able to overcome many hurdles that may arise.

The author’s color pencil business model diagram for Since we started Mindvalley, we’ve blossomed to over employees and revenues past $15 million a year (50 million in Malaysian Ringgit).

We’ve become one of the biggest sellers of educational content online (mostly in meditation. 7 Lessons From Bootstrapping a $15M Lifestyle Business 7 Reasons Most People Should Build Lifestyle Businesses, Not Startups Why Every Writer Should Start a Lifestyle Business.

Part 2 - Entrepreneurship - Lessons From My 20s by Ryan Allis - Free ebook download as PDF File .pdf), Text File .txt) or read book online for free.5/5(6).

7 Lessons From Bootstrapping a $15M Lifestyle Business.

7 Lessons From Bootstrapping a $15M Lifestyle Business

I now cringe every time someone asks me to explain my business plan. Instead, every year on January 1st, I borrow my son’s color pencils and draw a 5-year diagram of where I want to take the company. I then share this vision with my team and we start hacking our way to it.

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