At the age of 10, I had a seemingly glorious business idea. I envisioned a voice recorder that turns audio automatically into computer text.
Although I was clueless about how to build this product, I had the urge to share this idea with my father.
Then the shock — my father confessed to me that an audio-to-text converter already had been invented.
The good news is that I had enough time to process that shock. The bad news is that, even 20 years later, the same phenomenon keeps happening to me:
This article will cost you your precious lifetime.
So why on earth do you keep reading?
Because you want more motivation?
Do you need better health?
You’re looking for that one simple hack that cures all your problems with one big bang?
I’m sorry to disappoint you, but you won’t find it here.
Not here, not on Tim Ferriss's blog, and not even on Eckhart Tolle’s YouTube channel.
Matter of fact, the solution to your deepest problems can’t be found on the internet.
Basically, the internet tries to change you.
The moment you open your browser, the internet…
Since the rise of smartphones in 2009, suicide rates of girls between 10 and 14 years increased by 151%.
Horrifying facts like this one made the Netflix-documentary “The Social Dilemma” go viral in September 2020. It was a wake-up call for modern society, highlighting the detrimental effects of social media.
The main points of the documentary can be quickly summarized:
Entrepreneurs have become the rockstars of the 21st century.
Steve Jobs made innovation look easy. Mark Zuckerberg got his own Hollywood movie. And Elon Musk has lived up to his nickname “real-life Iron Man”.
At the same time, these tech-moguls have been misleading us — they made us believe that entrepreneurship goes hand in hand with innovation, fame, and attention.
Nothing could be further from the truth.
Ask 99% of entrepreneurs, and they‘ll tell you that business is quite the opposite of being creative. Most profitable businesses aren’t innovative nor exciting. And they don’t deserve a Hollywood movie either.
“I have an idea for a multi-million dollar app, now what?”
Countless people have pondered this question, be it programmers, businessmen, students, or stay-at-home moms.
Building software has become sexy these days — as a matter of fact, it has never been easier to start a software business with almost no money, over the internet, from your (parents’) basement.
As a software developer, the vision of building a small software product has always been in the back of my mind. Creating the actual software prototype would be pretty easy. Marketing and selling the product couldn’t be that hard either.
Lies don’t travel far. I had to learn this the hard way.
In second grade, my school class used to sit in a circle and told each other where we had spent our vacation. Most kids had been to exotic places like Spain, France, or Greece. I, however, stayed at home. I felt embarrassed about that— so I lied. I claimed that my whole family visited Australia, went surfing, and hung out with kangaroos and koalas. To my astonishment, my teacher believed me. My peers were fascinated, and I became the star of the hour.
Several weeks later, my mother…
Most business advice is useless.
After all, entrepreneurship can’t be taught. It’s learning by doing.
But what’s the most minimal amount of theory every entrepreneur needs to know?
I have thought about this question a lot.
Eventually, I have identified 5 timeless knowledge nuggets that, in my opinion, belong to the daily toolbox of every entrepreneur.
The following ideas will help you to kickstart your business and daily life as well.
Building a business is extremely risky if you do it in the wrong way.
In 2006, startup founder Eric Ries published his book “The Lean Startup” and revolutionized the…