Mindset To Create Your Company

black, experience, surf, ocean, child, kid

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

There is a simple trick to create your internet company. This trick allows you to have the sweetest change possible between your school/job and your job as an entrepreneur. This trick is to consider your company as an experience.

See your internet company as an experiment modifies your state of mind. Here’s how you see your company with this state of mind :

  • Your life isn’t wasted if you can’t create a profitable company to live the live of your dreams.
  • Creating a internet company doesn’t demand a large amount of resources. You don’t need to make a huge investments and spend a lot of money. Before increasing your expenses, you have to decrease your uncertainty by having a product or service that clients buy regularly. Once you have your 1000 loyal clients, you can go to the next step. Here is an article I wrote to have 1000 loyal clients, click here ].
  • The best situation is to create and develop your internet company next to your school/job. I advise you to take measured risks, evolve with baby steps and make changes smoothly. With this strategy, you’re not afraid to start. For me, stopping your school/job to create your internet company isn’t a good strategy because if this company doesn’t work, you will not have the opportunity to create another later. It’s extremely rare for a person to start a company that works really well the first time.

Passion

passion

You know, there’s a secret to not bieng afraid to start an internet company. It’s to create a project that really motivates you. A project that makes you want to work on it, a project that is so rewarding that you no longer want to play video games or watch videos (Youtube, Netflix, etc).

With this mindset of considering internet company’s creation as an experience, it allows you to learn a lot of things. It doesn’t matter whether the company working or not, because you’re learning new things about yourself, human relations and entrepreneurship.

When you start an internet company, it’s important that you achieve several goals. Here are the goals of my blog :

  • Motivate me to have an athlete body like Men’s Physique.
  • If I can’t make this blog a profitable internet company, I know that everything I learned in the creation and development of this blog is interesting knowledge that I could apply in a new internet company.
  • Create a community around this idea of doing sports to be healthy mentally and physically.
  • Make this blog a profitable internet company.

Having a list of several goals is great because if you fail 1-2 of these goals, you still have the opportunity to achieve the goals that remain.

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.

Work Effectively And Earn More (Part 2)

work effectively effective

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

If you don’t have read Part 1, click here .

5 actions to be effective

5

Optimize your working time

Use Pareto’s Law by focusing on the 20% of your actions that contribute 80% of your results and using Parkinson’s Law to determine how long to complete a task.

Here are other actions to put in place to optimize your time :

  • Don’t disperse yourself

  • Stop multitasking – This has been scientifically proven to be a waste of time and productivity. Read this scientific study .

  • Stop interruptions – Things like smartphone notifications, emails or messages.

  • Group actions.

  • Remove unnecessary tasks – To find out if you’re doing a useless task, ask yourself this question from Peter Drucker : « Why am I doing this ? Is it necessary ? » With this question, you can easily delete unnecessary tasks. Exceptionally, you can use a notification on your smartphone that displays this question every 30 minutes. It’s a type of reminder all day long.

  • Identify the 20% of things and people that cause 80% of your problems and delete them. If it’s someone in your family, talk to that person 2-3 times a week instead of every day.

Automate everything you can

Many tasks can be automated in companies. For example to send messages on social media (I use Buffer  ). It’s possible to automate a sale on internet, it’s the customer who does everything. The customer looks for a product, uses his/her credit card by filing out the payment form of the website, and the bill created automatically based on the information provided by the customer, etc.

It’s also possible to automate a company, this is the case of Drop Shipping. Drop Shipping is when you sell products that you don’t have in stock and that are sent directly from the supplier to the customers. Amazon offers this type of service too, you can put in their catalogs products that you sell and entrust to Amazon for the stock’s management, sending and returns of products. I wrote an article on Amazon’s drop shipping, here.

There is also the case of muses that explains Tim Ferriss in his book « 4 hours workweek ».

Delegate

Focus on your strengths and delegate the rest. Create a list of tasks that you want to delegate with instructions. Then gives these tasks to a team by assigning each type of task to a specialist.

Duplicate

There is no point in reinventing the wheel. You can duplicate the recipes of your mentors success and use that in your own company.

Recycle

A job that you did can be reused in a different form. For example, articles from a blog can be used to make a book, a podcast or a video.

4 actions to earn more

4

Determine your goal and strategy

Determine your goal, your process to reach it and the strategy to put in place. Here are some examples of strategies for developing your wealth :

  • Replace your salary with real estate income and start your own company.

  • Keep your work as employee and invest a maximum on stock market to create passive income.

  • Create a company to have a complementary income like a blog, a podcast or a Youtube channel.

  • Buy a piece of land and build several apartments (condos).

  • Etc.

Optimize your management to spend less money

  • Analyse the things you have to pay to eliminate waste : unnecessary subscription, insurance too expensive, etc.

  • Print your bank statement and analyze it

  • Seeking a way to achieve the same result by spending less : compare, buy cheaper, negotiate to save money for the things you really need.

  • Optimize your taxation by reducing your taxes.

Recycle your skills and your work

You can work on something once and get paid several times. You can create a seminar, keep 3 children instead of 1, you walk 5 dogs instead of 1, etc.

You can also use a job you have already done to create complementary income. Foe example, if you like to take picture, you can put them in stock photos on internet.

Duplicate the processes known to create wealth

  • Pay yourself first

  • Make money work for you by saving at least 10% of your income to invest them.

  • Invest in yourself with training to learn new skills

Here are the options you can use to create a company that serves your life (and not your life serving your company). With internet it’s easier to use these levers with a blog, podcast or a Youtube channel by creating content.

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

-Steph

The Important Things To Delegate In Your Company

delegate

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

Here are the most important things to delegate in your company

Accountability

accoutant

I often meet entrepreneurs who do their own accounting and they say it’s a nightmare. Here are the 2 reasons why I advise them to stop :

  1. Accounting requires a lot of time.

  2. It’s extremely easy to make a mistake. Even certified public accountants make mistakes. The problem when there is an error in your accounting is that all the numbers are wrong. And when all the numbers are wrong, you tax return is false and when your tax return is false, you are in a long-term nightmare.

It’s possible to find a good accountant for around $1 200 a year when you start a company. It’s always better to pay that than to be in a financial nightmare for 5 years because of a mistake in your tax return.

Technique

it provider

What’s cool is that with WordPress and its free plugins and themes, it’s easy to install and manage a blog / website. There are also other platforms that allow you to do the same thing.

On the other hand, when there is a major problem that exceeds your skills, it can be negative for your company. For example,your blog / website no longer responds. If you don’t know how to do, you can spend 2-3 days trying to understand the problem and it’s been 2-3 days since your audience no longer has access to your blog / website.

At that moment, you need an IT provider. This is not a person you will hire as an employee but it’s a person to whom you can entrust all the technical tasks that you don’t knew how to do.

Yes, it will cost money but ask yourself this question : « Is it better to spend 2-3 says repairing your blog / website is down or pay a IT provider who repairs it in 1 hour ? ».

I advise you to find a IT provider quickly when you start making money with your company before having a major problem. Maybe someone around you knows a good IT provider or maybe you need to find one on Upwork. Test this IT provider with a small task to find out if her is competent or not.

Customer support

customer service provider

It’s something to delegate but not as fast as the technique. At the beginning, it’s important to do customer support yourself to be in direct contact with the audience to see the problems in services or products, etc. But that doesn’t mean that customer support is the best added value task that the company’s founder can do.

With customer support, you will quickly see that there are often the same questions that are asked. To eliminate much of the customer support is to make a FAQ. A FAQ is the list of questions most frequently asked with a reply.

For other questions that are a little more complex that are are common, you can do a procedure to explain to the people who take care of your customer service how to solve the problem. And you can ask them to inform you when a question is frequently asked to have a permanent feedback. This allow you to stay in touch with reality.

Maybe someone around you knows a good customer support provider or maybe you need to find one on Upwork. Test this customer service provider with a small task to find out if her is competent or not.

Social media

social media provider

Since you have a blog or a website, you have an audience. This audience sends you messages when you create content. This is the same principle as for customer support, it’s important at the beginning that you answer the messages yourself to discover your audience. You will know the fears and the hopes of your audience. It’s important that you learn how to communicate with your audience.

To find out what things to delegate, you need to be aware of seeing where you bring the most added value to your company as a founder, it’s about innovation, strategy and setting up processes. This allows you to work on your company and not work in your company.

It’s important to know the difference between working on your company and working in your company (being a slave to your company).

Solution

solution

I told you there was a way to find IT provider, customer service provider and social media provider on internet. The best known platform for finding freelancers or outsourcing is Upwork . You will find providers from several different countries. Always test a provider with a small task that doesn’t have a huge impact on your company to make the selection.

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

-Steph

Be Curious And Effective

curious

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

I personally like to learn new things in different fields. Generally these are fields that I don’t know at all. This stimulates my curiosity especially when it’s something I don’t know and I see a lot of people using that. I think it’s the same for you.

That’s right, I’m curious and I like learning but how to be curious and learn a new thing effectively to use it as quickly as possible everyday ?

How long to learn

the right time clock how long

This is something that I’m always adjusting but there are some fundamental principles for it to work.

Here is an excellent example : speaking a foreign language. I hope (and if not, I advise you to learn another language) that you’re a person who speaks a foreign language at a level that allows you to have simple conversations.

Now do a little analysis. How long did it take you to reach this level to have simple conversations (a level that allows you to understand 80 % of a conversation or a text) ?

As everyone is unique in his/her method of learning, imagine that with effective learning techniques, it took you 2-3 years to reach the 80 % level of understanding in foreign langage. How much time do you think it is necessary to move from a level of understanding of 80 % to 99.9 %?

The truth is more impressive than you think. To go from the understanding’s level of 80 % to 99.9 % (the native’s level), it’ll take you 20 years !

You know, it’s not necessary to have a 99.9 % level of understanding to be bilingual. If you understand subtile jokes, you can consider yourself a bilingual. On the other hand, if everyone around you laughs and you wonder why, you aren’t yet a bilingual.

What is effective

effective

It’s destabilizing but it’s a reality, it’s faster to go from 0 % level to 80 % level than to go from 80 % level to 99.9 % level. This is the law of diminishing returns. This law works in all fields. This law is similar to the Pareto’s principle. The Pareto’s principle is the fact that 20 % of actions brings 80 % of results, 20 % of customers brings 80 % of the company’s turnover , etc.

This means that at one time, it’s more costly to learn the little things that remain to be learned in this field than to learn something new in another field.

Let us continue with the foreign langage’s example. It took you 2-3 years to get an understanding’s level of 80 %. In the next 2 choices, what’s the most interesting for you ?:

  • To spend 20 years to reach the 99.9 % level for a foreign langage

  • To spend 20 years to learn 6-10 new foreign languages at a level of 80 %

You see the number of opportunities you can create in your life by knowing how to speak several langages, it’s cool.

But there is a difficulty in knowing when the law of diminishing returns is put into action, This is a difficult question to answer because it depends on the individual and the field. It’s a personal expedition. We must also not confuse this with the « crossing of the desert » that everyone does when we start a new project.

The thing I do and I advise you is to track your progress to know when 20 % of your actions bring you 80 % of the results. With this tracking of your results, you can know everyday if you approach or if you move away from your goals. If you move away from your goals, it means that you have to adjust your strategy quickly.

When you have found a smart way to track you progress, it’s cool because you have an intellectual horizon, cultural horizon, tools, methods, strategies that are extremely varied and diverse that the majority of people. You have an effective toolkit that comes from an extremely varied horizon.

You can see in my blog’s articles that I speak of different field. I’m curious and I show what I learn by giving my sources because I find that being curious give me excitement to be alive. When you travel to a country where you don’t understand either language or writing, it’s exciting, right ? You can do the same thing on a daily basis by learning things in different fields.

Assemble different concepts

assemble assemblage

Now, let’s move on to the next level in curiosity. When you know extremely different fields, have fun connecting the concepts to each other. There is a type of creativity that involves linking concepts in a new way. Have fun connecting concepts that weren’t thought to be linked together and create something new. Look at how music evolves. You take 4 music’s types that nobody listen to, you mix all it and you create a new music’s type.

Today, we have the facility to have access to knowledge with books on billions of subjects. There are books on money, cooking, foreign languages, etc.

Attention, you need to learn in an efficient way with the principle of 20/80 and action (execution) everyday, no matter how difficult. If you learn all these things only to give you a good conscience and to impress your friends in discussions, you waste you time. It’s intellectual masturbation, it’s an illusion. It’s like this expression of Julien Greaux : « To be rich on Instagram, it’s like being rich in the game Monopoly ! ».

I hope that I motivated you to explore and learn new things effectively. And most important, you learn these new things to use them every day to boost your lifestyle.

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

-Steph

Dropshipping

dropshipping

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

To start, a little explanation of dropshipping. Dropshipping is to entrust most of your logistics to an external service provider or to make it simpler, you outsource your logistics. For example, you sell fitness accessories on the internet. Everything concerning the reception of the product, storage of the product, packaging of the product and sending the product to the final customer is managed by the service provider. This is a concept proposed by Tim Ferriss in his book « 4 hours workweek ».

Amazon

amazon fulfillment

The most famous dropshipping provider in the world is Amazon with its service « fulfillment by Amazon »  Here is how it works, you reference your product in Amazon’s catalogue, you order your product from your supplier by telling to your supplier to send the product to an Amazon’s center.

As you see Amazon takes care of the storage of your products. Now when a person buys your product on Amazon, it’s Amazon that handles delivery to the final customer and billing. Of course, Amazon takes a commission that is about 30 % of the sale price. Yes, that’s it, so you have to pay attention to your profit margin.

Today there are more and more people who create dropshipping companies to buy products to import on Alibaba. They do market research on the internet, they do tests and sell these products on Amazon USA, Amazon Canada, Amazon Germany, etc.

it’s possible to earn tens of thousands of dollars per months with an excellent profit margin.

A dropshipping company is interesting because there are fewer constraints than the classic e-business. But there are always risks. You have to buy a little stock (so the stock is at home) to your supplier to see if you can make several sales on Amazon before outsourcing your logistics to Amazon.

Make your first sales

first sales sold

There are several ways to create a dropshipping company, it’s up to you to find the one that fits you. Do your best to minimize risks and a plan B if things don’t go well.

To minimize risks to the maximum, you need to train yourself about dropshipping. Read books about dropshipping, do your own research to try to figure out what products interest people and buy a small stock of products to sell them yourself. The best scenario is that Amazon takes care of everything including find customers. But for this to be possible you have to make marketing efforts to have the first sales. Once you have made the first sales, you have launched the machine.

Once you have made the first sales, an Amazon’s algorithm will help you. Yo know when you see a product on Amazon, at the bottom of the page, you have a « customers who bought this item also bought » zone. When your product is on this list, Amazon helps you find new customers and it’s cool.

Make your own marketing

marketing digital social media

Amazon helps you for your logistics and find new customers and it’s really cool but don’t be naive. If Amazon changes its algorithms, your sales can decrease. To avoid this situation, you have to do your own marketing. An excellent strategy is to create content with a blog, a Youtube channel or another social media.

The idea is to create content to create a community. For example, if you sell fitness accessories, you create content about fitness to create a fitness community. Content allows you to have fans. You build a community and your mission is to help people in your community to reach their goals. And that makes the difference between you and your competitor.

If you’re interested in creating a dropshipping company, the first step you need to do is to train yourself by reading books, watching video on Youtube and participating in online or offline training. Here, now it’s up to you to hustle.

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

-Steph

Stop Procrastinating On Your Project

procrationation

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

At the beginning when I started my blog, I had difficulties to be regular in writing articles. I wasn’t productive. But procrastination is often a big problem for entrepreneurs.

Here are some strategies that help me and will help you to evolve your project every day. These are strategies that you can use today, they’re simple

Everyone must know your project

everyone everybody

Talk about your project to all people you know, even people you meet from time to time. A maximum of people needs to understand your project. Talk to your family, friends, schoolmates, co-workers, employees of places where you go often, your cat/dog/red fish, etc.

Talk about your project in your social media like Facebook, Twitter, Instagram, Snapchat, etc. In this way, people from different countries will know that you’re working on an important project for you.

What will happen is that when you meet these people, they’ll ask you how your project is progressing. At the beginning, you’ll probably find excuses to explain why your project doesn’t advance but you’ll quickly realize that it’s embarrassing to invent excuses.

It’s normal to have that feeling because no one wants to look stupid in front of people. Now that you don’t want to look stupid in front of people, it creates a new external motivation, a positive external pressure that will help you to evolve your project.

Make A Challenge

challenge

You can find a friend who also wants to create a blog or a company and both you make a challenge. Make a prize for each challenge. For example, the first who publishes 4 articles in his/her own blog, the loser must pay a restaurant or a concert (showcase) to the winner. Regularly each one checks the evolution of the other and once the challenge is over, you make another challenge.

A regrettable donation

donation

You make a check or fill out a donation form for an association or a political party that you don’t like at all. You really have to hate the beneficiary of the donation. You give the check or the donation form to one of your best friend. If at the precise date you didn’t make your project evolve as planned, your friend sends the money to the beneficiary. It has to be minimal $100.- because it has to be painful. You want to do everything to avoid this.

These strategies allow you to have something more in your state of mind to realize your project. A plus to boost your will effectively.

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

-Steph

Crowdfunding and blog

crowdfunding

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

Use a crowdfunding’s platform is interesting to create a product. What is also cool is that by looking at projects we can have an idea of the future products.

Crowdfunding allow you to sell a product before creating it but there is a difference compared do the Lean Startup method  :

  • With the Lean Startup method, a startup must create as soon as possible a prototype (minimum viable product) to test it in the real world (the market).

  • With the crowdfunding, a product must be of sufficient interest to people to invest their money in the project. It’s mainly a relationship based on trust, people believe your promises.

Crowdfunding

crowdfunding

Crowdfunding’s platforms have their own rules to protect their communities. Imagine you need $300 000.- to create your product. Unfortunately you can reach only $200 000.-. As you have not reached $300 000.- required, the money is refunded to people. Nobody lose money.

The truth is that sell content on crowdfunding’s platform is very difficult. Video games work well, there are video games that reached $1 million. Movies and short films also work well. For exemple, fans of mangas or comics make a movie about their heros. On the other hand, books are really a small percentage.

For an author it can work but you already have a large community, already have an authority or already have credibility in another area.

If you start from scratch and you want to create a blog but nobody know you and you don’t have a community, it will be extremely complicated to have funding with this type of platform.

And the reason is very simple, everybody know that we can create a blog for free.

Self made

self-made

And it’s precisely because it’s free (or not expensive) that makes the blog’s strength.

You can create a blog today from your home and work on it (part-time) next to your school/work.

With a good strategy, you blog is a company. Do you know how it was 30 years ago to start a company ? You needed to have a minimum capital and you had to do a market research by buying files or paying experts. Now with internet, you can do it from your home, it’s cool.

To have a blog that work well, you need to have a strategy and one of the points of the strategy is to reduce your distractions. Decreases distractions that prevent you from evolving your blog. A distraction I’ve decreased is the number of hours watching TV show or Youtube. I spent easily 3 hours a day watching what doesn’t matter, now I decreased to 45 minutes.

With Youtube, I subscribed only 13 channels and it’s channels that learn something or motivate me to develop my blog.

stephane andre youtube subscribe

To have a blog, it’s a little bit utilize the Lean Startup method because your’re quickly in touch with reality to see if what you are doing interest people (number of views), you use feedbacks from your community to improve your content and you build your audience little by little so that your blog become a real company.

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

-Steph