Infopreneur

infopreneur, internet, information, product, laptop, entrepreneur,

What’s up ? This is THE stephane ANDRE !!! I watched an Olivier Roland’s video and I learned some good stuff.

I discovered what it was an infopreneur by reading Tim Ferriss‘s book « 4-Hour Workweek ». It was a book that was recommended in a personal development’s blog and this book has completely changed my way of seeing a « job ». This is definitely a point of view that we don’t learn at school, even at business school.

The profession of infopreneur is a very interesting profession and evolves all the time because of new technologies. In fact, if you don’t know, an infopreneur is a person who earns money on internet with information products. These information products aren’t news but they’re information to help people achieve a goal on a specific area.

What is special about this job is that we enable people to be more effective in things that are important to them and the result is that they’re happier.

Workplace

One of the advantage of this job is geographical freedom. The company is based on internet, which means that you only need a computer and an internet connection to work. There is no obligation to go to a workplace, you can work every day in a different place or in a different country as long as you have access to an internet connection. There are more and more jobs that allow you to have this freedom like programmer, virtual assistant, bookkeeper, data entry, copy writing, translator, travel agent, transcriber, etc.

It’s a profitable business because selling information on internet makes it easier to reach a large number of people with little money.

Distribution

internet company

Imagine how it was to sell a book before the invention of printing. Even if you had written the best book in the world, it was hard to live on it. Imagine, so that 2000 people can read your book, you needed 2000 handwritten copies of your book. Copying books was not a really cool job, so you can imagine how complicated it was. If you offer me a job that consists of copying 2000 books of 300 pages, I’ll answer you : « No, thanks !!! ».

With the invention of printing, authors started earning more mony because more people could read their books and that to increase later with the invention of copyrights.

With digital books (ebooks), it’s possible to sell 100 or 1 000 000 books without the huge costs of printing, distribution, storage and return management. There are still costs but they’re very low for the servers and the support (for example a client didn’t receive the email to download the ebook).

With internet, it give you the opportunity to manage the distribution of your information products yourself. Before internet, you had to have an appointment with a manager of a radio, television to reach as many people as possible. If this manager liked your work, you could have ads on radio, television but if this manager didn’t like your work, no ads.

Many talented people couldn’ have a great exposure to make known their talent because of these « Gatekeepers ». Internet allows you to no longer need to these gatekeepers to reach a large number of people.

If you want to know more, I advise you to read this article that I wrote. Click here .

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

P.S. If you’re in Miami and you like Caribbean food, go to my cousin’s bistro to eat Haitian food, click here.

Chi-Square Test With More Than 2 Categories

tableau chi square test

I have just enrolled in a Data Science course on Udemy  and I learned good stuff.

In this article, we will do a Chi-square test with more than 2 categories. We will use the A/B test « Country » which has 3 categories which corresponds to 3 countries : German, Spain and France. Select « Gender Actual » tab, make a copy with a right-click and select « Duplicate ».

tableau chi square test

Name the tab « Gender Actual (2) » by « Country Actual ».

tableau chi square test

In « Dimensions », move the variable « Geography » over « Gender » in « Columns » to replace « Gender » with « Geography ».

tableau chi square test

tableau chi square test

Here’s how to do an A/B statistical test when there are 3 categories. We’ll start with the classic method and then I’ll show you another way to do Chi-square test with any number of categories.

Let’s start with the classical method. In this case, there are 3 categories so we can’t use the online tool of the previous article. In the previous article we used an online tool with only 2 categories « Sample1 » and « Sample2 ». That’s why we’re going to use another online tool, click here  .

tableau chi square test

In this online tool, we can enter the values without using the total values. That is, we enter only the number of observations in each category. We simply need to enter the values that are on our A/B test. And I’m going to show you how to turn our A/B test into a table. In this way, it will be easier to enter the values in the online tool without making any mistakes.

Go to the « Show me » tool at the top right.

tableau chi square test

Click on « text tables »

tableau chi square test

tableau chi square test

Click on « Swap Rows ans Columns » button.

tableau chi square test

tableau chi square test

Cool, now you have a table arranged in exactly the same way as the online tool.

In the online tool, we will select 2 rows and 3 columns.

tableau chi square test

As we have 3 categories and 2 possible results, we enter our values exactly as in the table we just created on Tableau.

tableau chi square test

Perfect, our table is ready. You can click on the « Calculate » button.

tableau chi square test

tableau chi square test

As you can see, we observe the same thing as the other online tool. There is our indicator « p » value which is less than 5%. Which means there is a meaning.

tableau chi square test

This statistical significance means that these results are valid for the total number of the bank’s clients and not just for the sample of 10 000 clients. We observe similar differences with A/B test « Country » whose results are based solely on the sample of 10 000 clients. We can conclude that in the total number of the bank’s clients, it’s the clients in Germany who are more likely to leave the bank. This is how we do things cleanly.

You saw, this online tool limited by 5 by 5 tables so you can’t use this tool when you have 6 categories or more. But fortunately it’s possible to do Chi-square test with any number of categories. It’s a special method and for you to understand that, I’ll give you a theoretical explanation.

Here we have 3 countries : German, Spain and France.

tableau chi square test

What we’re trying to compare is the clients number leaving the bank in each of these countries.

tableau chi square test

With our basic A/B test based on a sample of 10 000 clients, we obtained 16% for France, 32% for Germany and 17% for Spain. Now the question is : « Do we observe the same results on the total clients number of the bank ? », it means : « In general, does the country have a significant effect on the clients number leaving bank ? ». Germany has the largest number of clients leaving the bank so the idea is : « Why would we need to compare the 3 countries at the same time ? ».

tableau chi square test

If we do an A/B test statistical test with Germany and France and we get a significant difference in the clients number leaving the bank between these 2 countries, then that would mean that in general, the country has a significant effect on the clients number who bank. Indeed, if we find by comparing Germany and France that the Germans are more likely to leave the bank than the French, we can consider that Spain will not change anything. Germans will always be more likely to leave the bank than the French. Maybe there will be a different relationship between Germany and Spain but there will always be a statistically significant difference between France and Germany with a larger number of clients leaving the bank in Germany than France.

Here is a way to confirm that this logic is true. There is a test and the participants of this test are German, Spanish and French. Imagine that this test was done without looking at what is happening in Spain. Now you get the result and you ask yourself the question : « Would the results changed if you added Spain ? ». The answer is « no » because there is no interdependence between Germany, Spain and France. That is, the decision to leave the bank in France and Germany doesn’t depend on Spain. And therefore, it’s quite correct to separate the categories by putting 1 aside to compare the 2 others. And as now we have 2 categories, we can do a Chi-square test with the online tool that we used in the previous article.

So let’s go back to our worksheet and put a country aside to compare only 2 countries. Select « Country » tab.

tableau chi square test

What we observe is that the difference between Spain and France is very small, so it wouldn’t be interesting to do a Chi-square test between Spain and France. It’s more interesting to do a Chi-square test between Germany and France and to prove that there is a statistically significant difference between these 2 countries. This will be enough to conclude that the country has a statistically significant impact on the clients number who leave the bank.

Selects « Country Actual » tab.

tableau chi square test

We will use the online tool of the previous article, click here  .

We will make a copy of « Country Actual » to have a bar chart with absolute values. Select « Country Actual », right-click and select « Duplicate ».

tableau chi square test

In « Show Me », select « horizontal bars ».

tableau chi square test

tableau chi square test

Removes « SUM (Number of Records )» from « Columns » and removes « Exited » and « Geography » from « Rows ».

tableau chi square test

tableau chi square test

In « Dimensions », move « Geography » in « Columns ».

tableau chi square test

tableau chi square test

In « Measures », move « Number of Records » to « Rows ».

tableau chi square test

tableau chi square test

In « Measures », move « SUM(Number of Records) » in « Label ».

tableau chi square test

tableau chi square test

In « Dimensions », move « Exited » in « Label ».

tableau chi square test

tableau chi square test

In « Dimensions », move « Exited » in « Colors ».

tableau chi square test

tableau chi square test

We also need total absolute values, which means the total number of men and women. There is a very fast way to get that. Right-click on the vertical axis and select « Add Reference Line ».

tableau chi square test

Then in « Value », click on the drop-down on the right and select « Sum » to have the total sum of the observations.

tableau chi square test

And in « Scope », you select « Per Cell » option to specify that you want the total sums for each category, male and female.

tableau chi square test

Now, we have the total sum at the top of the bars. We will modify labels to have the absolute values. In « Label », we will change « Computation » to « Value » and click on the « OK » button.

tableau chi square test

tableau chi square test

tableau chi square test

Here’s how to enter the data :

For « Sample1 » in #success, you enter 810 because there are 810 people who left the bank. For « Sample1 » in #trials, you enter 5014 because there are 5014 people in total.

For « Sample2 » in #success, you enter 814 because there are 814 people who left the bank. For « Sample2 » in #trials, you enter 2509 because there are 2509 people in total.

tableau chi square test

Here is the verdict : « Sample2 is more successful ». « Sample2 » corresponds to German’s clients and #success is :« yes, the client left the bank ». This verdict means that of all the clients from German are more likely to leave the bank than clients from France. And look, there is something important, it’s « p<0.001 ». This means that the « p » is strictly less than 0.001. As you can see, « p » value is very small, which concludes that the tests are statistically significant.

Ooh, there’s another thing I wanted to show you with the tab « age » with the 2 bar charts in parallel.

tableau chi square test

As you can see, there are many categories (more than 5) because each category corresponds to a 5-year ago group with clients of the bank aged from 15 to 90 years old. This is a lot of comparison but it would be a good exercise for you to find what are the 2 categories to compare that shows that there is a significant statistic difference.

I give you a hint, compare slices from 50 to 54 years old or from 35 to 39 years olds. In fact, you should compare all peer categories where you observe difference on this basic A/B test. Do a basic A/B test with absolutes values. Then do a Chi-square test to check if the difference is statistically significant, I mean, if the result is valid for the total number of bank’s clients.

This is a way to statistically validate the insights we see onTableau. You see, it’s not very difficult and it’s effective. Here is a way to find insights on Tableau and validate them.

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

An Extraordinary Tool To Solve All Your Problems

tool box

What’s up ? This is THE stephane ANDRE ! I watched an Olivier Roland’s video  and I learned some good stuff.

Nature has given an extraordinary tool to every human being. This tool has different performance depending on the people but it’s the best for solving problems compared to the tools invented by humans.

This tool is our brain. This tool is better than a computer because a computer needs a human to work. For now, artificial intelligence has lower performance than the human brain.

Unfortunately, many of us don’t use our brains to find solutions and solve problems that are important to us. Many of us consume a lot of distractions. The question is : « Are we asking enough questions to our brain to find solution ? ». If you don’t give problems to your brain, your brain will be less and less efficient. It’s the same principle for your body.

If you give junk food to your body all day long, you will be fat, bitter, you will not have any more energy, you will not have any more libido. Everything that will comes out of you brain will be diminished in quality and quantity. If you will give healthy food to your body all day long, you will be slim, you will have more energy, you will have a better libido. Everything that comes out of your brain will be increased in quality and quantity.

Training your brain

training brain

To improve the brain to solve problems, it’s necessary to ask questions. A question is the interface between our brain and reality. This is what will put the brain in mode : « search for solutions ». By asking questions, you will look for different angles of approach to deal with the problem. The better the question and the better the solution to the reality of the world.

To have a good quality of question, it’s necessary to learn to educate oneself with books, trainings, meeting people who share their experiences, etc. Realize that you have to dedicate time to solve problems, allows you to organize your days. It’s like dedicating a few hours in your day to play sports. There is a method that I advise you to test, it’s to have a diary.

Attention, it’s a special diary because you’ll ask yourself questions. The first thing is that you’ll tell events of your life and this will allow you to better understand them and better understand yourself. And the second thing is that you’re going to ask yourself questions. There will be general questions like: «  How can I become happier ? ». And more specific questions like : « How can I become happier with the 80/20’s law (Pareto’s principle)  from today and see a measurable result next week ? ».

With questions, you put your brain in mode : « search for solutions » and you find several ideas to test to solve the problem. It’s the human process to find a solution since first hominids. Imagine, millions years ago, first hominids already found solutions because of a constraint. Imagine this scene, a hominid finds an animal with a carapace that is dead. The hominid is hungry and seeing the animal dead, he’s even more hungry. He asks himself this question : « How can I eat this animal that I can’t eat ? ». His brain goes into mode : « search for solutions ». After a few minutes, he remembers that by tapping a stone on something, the stone become sharper. After several tests, he manages to cut the animal with a carapace that dead to eat it.

Virtuous circle

virtuous circle

This human process is a virtuous circle. You ask yourself questions to find solutions to problems. These solutions create other constraints that lead to others problems. So you have to ask yourself other questions to find a solutions. To evolve, we need challenges and there are always challenges in the world. Do you realize that millions of years ago, first hominids created tools with stones and wood and today we have internet technology ? With internet, people from distant country can read my blog’s articles 24/24 7/7, it’s incredible.

Among these questions, there will always be questions that will have different answers depending on what the situation you’re in your life. For example the question : « How can I become happier ? ». When you’re single, you have a solution. When you’re in a relationship, you have another solution and when you have children, you have another different solution. Solutions are influenced by different variants in your life and it’s important to ask yourself this question throughout your life.

Reserve some time in you day to ask yourself questions to solve problems. It’s a kind of physical activity for your brain. It’s a good process to become a better version of yourself. But beware, there are solutions that you will find quickly and others, it will be necessary to work on for months or years to find the solution.

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

Universal And Unique Principles

converse chuck tailor black custom the simpson

converse chuck tailor black standard

I watched an Olivier Roland’s video  and I learned good stuff.

I noticed that there is an approach to selling a service or product, especially used by coaches, which is based on the principle that « everyone is different ». Say like that, it’s hard not to agree with this principle because everyone is unique and everyone has their own characteristics.

When a person uses this philosophical principle, it’s easy to see his/her way of thinking and his/her actions. As many coaches use this principle, they try to set up a unique service for each person and each person evolves at his/her own pace.

It’s not a problem to use this principle but there are disadvantages. These people find no interest in methods that work for most people. For example, the McDonald’s method or school systems work in a universal way.

You have to realize that as a human being, there is a lot of common ground between us. There is 1% difference in our DNA compared to the DNA of a chimpanzee. So you see that the difference in genetics between several human beings is extremely ridiculous.

2 human beings coming from distant countries like a person from Botswana and a person from Norway have much more genetically in common than between a human being and a chimpanzee. All human beings all have a head, a body, hands, feet and we all have the ability to speak a language. It’s true that the language is different because it comes from culture but at the base, we all have the programming necessary to learn it.

When we understand that, we can see that there is a huge part of things that human beings have in common and that comes from DNA. DNA is a material like a hardware (computer, smartphone) and culture is like a software. Culture is the element that allows us to have different behaviors.

In the book « Influence : Science and Practice » by Robert Cialdini , he shows us several influencing factors that make people more likely to believe you, to listen to you when you ask them to do something. These factors are universal among all cultures. Cultures will just change the importance of certain things over others compared to other cultures.

Universal and unique

people diversity

Be careful not to let yourself be trapped in this principle. Yes, we’re all unique because we need to have things that correspond only to us. But there are methods that work for 99% of people. You can use a method that works for 99% of people and then customized products or services for people who want it.

You can meet coaches who use 100% this principle that everyone is unique and he often asks you the question : « Wait, you communicate to thousands of prospects and clients, how do you can do because each person is unique, etc ».

These coaches are right and wrong at the same time. It’s obvious that a customized product or a customized service so more effective, but if you can create a standard product or standard service, you can help 100 000 times more people.

For me, it’s necessary to use the 2 principles. You make a standard product or standard service and you make a customized product or a customized service for the people who ask it. With these 2 principles combined, you can really grow your business to build a legacy.

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

Work Effectively And Earn More (Part1)

work effectively

I watched an Olivier Roland’s video  and I learned good stuff.

Everyone wants to work more efficiently to save time and make more money. There are 2 books to learn how to do this and I’m going to do a synthesis of 2. Maybe you already know theses 2 books, it’s « 4 Hours Workweek  » by Tim Ferriss  and « The One Minute Millionaire » by Mark Victor and Robert Allen.

Before you start, it’s important that you know that there is a special relationship between time and money. The idea is to better manage your time in your day to make your money work for you and make more money. There are several actions to put in place to do this and these actions based on 3 laws :

  • Leverage – Leverage gives you the speed to reach your goals faster. With a lever, you can control several elements. There are 5 types of leverage in 5 forms. We’ll see this in detail.

  • Pareto’s law.

  • Parkinson’s law

Lever

lever effect leverage

Let’s start with the leverage and its different points of support. There is a very interesting quote from Archimedes :

« Give me a place to stand, and a lever long enough and I will move the world »

Leverage allows you to reach your financial goals more easily and quickly. The higher the fulcrum is, the higher you can go up and far.

5 points of support

Money from others

Very useful in the real estate because the money of the banks and the tenant can allow you to have an additional income and a heritage. This heritage is largely financed by the money of others.

Skills of others

By meeting professionals who have more experience than you and mentors on your professional field, you can follow their examples. This allow you to access years of knowledge in a very short time, and avoid making mistakes that can cost you a lot of money and waste a lot of time.

Ideas of others

Find a partner who is willing to share ideas. For example to create your business instead of reinventing the wheel, you can join a franchise network to use and implement a business model that has been proven.

Time of others

Use the skills of someone who has more experience than you, by this way you can save. Delegate tasks.

Work of others

Support a team that is capable to manage things for you without you need to give last minutes instructions. Create a team with a list of instructions so that they are as autonomous as possible.

5 forms of support points

 

Mentors

Mentors are an incredible source of information. Select the people who inspire you from the people who have succeeded in the field you want to master.

Team

It’s known to many we can accomplish more than alone. A team makes it possible to work in synergy and to find solutions more quickly. Find people who have the same values as you and who have complementary skills.

One of the best example of a successful team is the team Steve Wozniak and Steve Jobs who together created Apple. Steve Wozniak is a computer genius, he created the first Apple computer, the Apple 1 and he largely created the Apple 2 that made the success of Apple. Steve Wozniak is a very nice person but at the time, he didn’t have the skills to sell these computers. Steve Jobs was a sales genius but he didn’t have the skills to create these computers.

Steve Wozniak and Steve Jobs separately have never been able to create something as impressive as Apple, the association of these 2 people who shared the same values and the desire to offer people computers easier to use have marked the history of computer with Apple.

Networks

The more professional relationships you have, the greater the leverage will be. Grow your network in the areas where you want to share and work.

Skills and tools

Having essential tools to reach the goal and mastering the operation of theses tools increase success. Skills to master are the power of persuasion, rhetoric and humor.

Systems

Using a good system increases the chances of success. To make money, there are millions of systems (there are so many on internet). The perfect system has 5 characteristics :

  1. No need to liquidity

  2. No risk or little

  3. Require no time

  4. Require no management

  5. Require little effort

The truth is that is very, very, very difficult to find an investment system that has these 5 characteristics, but you have to try to get as close as possible to work less and earn more money.

Pareto’s law

pareto law 20 80

Parkinson’s law or the 20/80’s law discovered by the economist and sociologist Vilfredo Pareto. This principle explains that 20% of the countries of the world share 80% of the wealth and that within these countries 20% of the people share 80% of the wealth. Here is the basis of this principle : « 80% of effects come from 20% of the causes », which means that a minimum of causes create a maximum of effects. Always try to identify in your actions or in your company, the 20% of actions which bring 80% of results.

Parkinson’s law

parkinson law time effort

Parkinson’s law discovered by historian and essayist Cyril Northcote Parkinson. This principle explain that the work extends so as to occupy the time available for the completion of a task. For example, if you put 2 hours to do a task that can be done in 1 hour, you still go for 2 hours. To have more time, we must force ourselves to have less. The basis of this principle is to do a task at 50% or 75% of the recommended time to do it.

In this section, we saw leverage, Pareto’s law and Parkinson’s law. In the 2nd part, we’ll see the 5 actions to be effective and the 4 actions to make more money.

Share this article if you think it can help someone you know. Thank you.

-Steph

Business Ideas From Abroad

world map drawing

I watched an Oliver Roland’s video  and I learned good stuff.

It’s very interesting to be part of a group of entrepreneurs (mastermind or other) to see what they do in your country but also internationally. Being part of a group of entrepreneurs makes it possible to share good methods/techniques.

There is an extraordinary rewarding to be part of an entreprenarial group because there are people from all over the world. It’s true that often half of the people come from English speaking countries (United States, United Kingdom, Australia, Canada ) but there are many people from different continents and that is a phenomenal force.

It’s a bit complicated when you start your company and you’re in an international business group, but it’s interesting to know what’s happening in your industry in another country. To start, you can be part of a entrepreneurs group who speak the same language as you but who live in others cities and other countries.

Once you master a foreign languange, you may be interested in seeing what is happenig in other countries.

Case study

Imagine that you have a turtle shop. You sell turtles, turtle accessories and you have a turtle blog. It’s interesting to see what happens in English speaking or Spanish speaking countries. Tu vas sur Google.com (United States verision) , Google.ca (Canada version), Google.co.uk (United Kingdom version ), Google.com.mx (Mexico version), Google.com.ar (Argentina version), Google.com.co (Colombia version). You write keywords related to your professional field and you look at websites,forums, social media. You look at what competitors are doing, but in others areas.

Language

language diffrent language foreign

Despite the incredible progress of Google Translate or other translation tools, markets are very isolated. The majority of people are interested only in their own market and their own language. This is a shame because it means that good methods will be used in one country and these good methods will be completely hallucinating and innovative for another country. And because of that, there is a loss of knowledge because there is no exchange between countries, there is no transfer of knowledge.

We entrepreneurs, we are not artists. There is no point in saying : « I’ll be the first to invent the wheel ! ». Once the wheel has been invented, it’s done and you can’t do anything. On the other hand, you can bring the wheel in your country and improve the wheel to find other use with. There is no shame in seeing good ideas in other countries and bringing them to your country. It allows you to create opportunities.

It’s true that the first interesting market to see is United States. Often this country is 4-5 years ahead of other countries in several different areas. But beware, new countries that are very dynamic have interesting innovation like Bresil (Google.com.br)  or several countries in Africa like Nigeria (https://www.google.com.ng ), Angola (https://www.google.pt ), Algeria, South Africa (https://www.googl.co.za ) and Asia like China (a tool to translate Baidu in english => http://www.baiduinenglish.com ), Singapore (https://www.google.com.sg ), South Korea (https://www.google.co.kr ).

What I want to tell you is that there is a lot to learn from other countries in the world. You need do be curious and to meet entrepreneurs from other countries with an exchange of ideas or innovations to create opportunities.

Share this article if you think it can help someone you know. Thank you.

-Steph