How to start a business by Tim Ferriss

[@MrGoxa]

As I'm watching through this video, I come up with so many great ideas that I constantly have to pause, take notes, then rewind. Thank you guys!

[@scaleogy]

Tim Ferris is such a legend - I hope to interview him one day! Inspirational guy and has helped so many people... Thanks for putting this on youtube.

[@DRsideburns]

You are a market. If there's something you need that doesn't exist, exploit the opportunity and create it, because chances are there are many people that need the same thing. That's just one of Tim's approaches. I love that the good ole 'if you don't understand something, hate it immediately because it's wrong' mentality is still alive even if this high-information world.

[@Saftladen100]

Tim seems to be a very brave, focused and smart person. Real interesting video.

[@Scriobh]

Tim is one of the smartest guys I've ever read. If you haven't read 4 Hour Work Week then go get it!

[@vinnychoff]

always intresting to hear Tim. I wonder how many actually listen and carry out some of his tips though

[@ErikBlair]

Down to earth Tim Ferriss. Great stuff.

[@sidavie]

Clear and insightful - thanks Tim and Loic

[@biztag]

If your not measuring, your not marketing successfully! All about expression, social and metrics. Great Tim!

[@Lacoux]

There is always using an ftp converter (google it) and downloading it onto your ipod, so you can listen to it while you drive, workout, cook, or clean. If you actually follow the principles of 4-hour body, you'll quickly realize that finding creative ways to achieve your goals will help you complete them faster.

[@christopherarmstrong2710]

1:50 it’s very important to choose your market before you choose your product. Start by scratching your own itch. 4:20 Believes in fast 2 week dev sprints combined with micro testing. 5:25 The objective of a business is “to provide a product or service of value and generate a profit - and to keep a very close eye on those numbers.” (headcount is irrelevant, although sometimes entrepreneurs are pressured by investors and lose sight of). 6:00 Tim had 200-300 contract employees, products distributed in 15 different countries, 5 or 6 different managers responsible for different areas (customer service, fulfillment, quality assurance, sourcing), each with a high threshold for independent decision-making. “The customer is your customer, not me.” 7:45 Your best customer is somebody who’s extremely high profit and very low maintenance. High priced products self-select. 10:34 The customer / user can provide very valuable feedback because you’re too close to your product. 13:00 “Email is everyone else’s agenda for my time.” If you go into your inbox without a clear agenda for the day, you’ll become confused and pulled in 100 different directions. 17:34 The one way to be completely unproductive is to try to make everybody happy. It’s the sure-fire way to completely fail to produce any sort of result that you’re defining. 21:00 It’s extremely important to test paid product from the outset and live and die by positive or negative cash flow. 21:35 Tim has _never_ taken outside funding for any of his companies. He felt confident he could do the micro testing early on so that he could generate revenue from day 1. There’s a certain sex appeal to having a “real company,” cap table, kickass investors, etc. -but there are a lot of responsibilities that come along with that. If you’re not looking at building an enterprise business, you’re essentially building a lifestyle business and need to understand cash flow; whether to reinvest capital or deploy it elsewhere. 22:30 Book on reading financial statements - extremely important for all entrepreneurs. 24:53 Don’t go looking for money with just a concept or idea. You need to show some *traction* first. Tim doesn’t invest in anything unless it’s showing some degree of traction. 30:05 A mediocre blog is worse than no blog. Try to time launch of blog to coincide with book launch. 30:40 There a number of phases in building a community. First is the first phase of early adopters, which can be the first tipping point. 32:05 Who reads your stuff is more important than how many. Bloggers, etc. will reshare your content. 33:34 If people don’t believe the messenger, it doesn’t matter how good the message is. 41:55 It’s very hard to predict what will work or will not 42:05 Tim does meetups and parties for readers around the world - London, Sydney, etc. 42:40 FiveFingers 45:08 Time is the most valuable non-renewable currency. Income without time has no value. Income has no intrinsic value other than what you can trade it for. Even if you trade it for a possession, what you’re ultimately looking for is an experience. 50:47 Tim’s main VA is on an island off of Vancouver. For lower level tasks he uses AskSunday.

[@anajoshi1519]

Very godo interview, inspiring and humble, thanks for your advices Tim!

[@familycashflow]

Great idea and excellent presentation! I agree with you however as a business owner myself, using a working and proven investment system is still an effective way to go. Considering the flow of my business I can say it never failed me.

[@howtotruckdriver101]

Tim Ferris a true G.O.A.T. Love your show.

[@homan1767]

Tim is awesome with his content.. Thank you for posting this :)

[@RafaKBLudo]

@hydrolist1 The interviwer is a person. I've seen interviwers who were more comfortable doing their job - this comes with time. But the question is: Would you have done better? If so, go, interview Tim and post your video so we can watch. We love great interviews.

[@trishakirk3982]

Great info, great interview.

[@awc0000]

He may be talking about "Warren Buffett and the Interpretation of Financial Statements" by Mary Buffett and David Clark. Mary actually wrote the introduction but there is a quote from Warren after the introduction. I believe Mary is Warren's ex-daughter-in-law.

[@RichardBravo]

cool breakdown on Ferrissing a startup

[@registeredagent]

What I have noticed is so many people spend a lot of time in the planning, and expansion, but they sometimes the importance of protection. Many people who are starting their new business may opt to act as their own registered agent. I feel this could be a costly mistake. Having a professional registered agent can ensure you don't miss important filings, and state deadlines.

[@garvamel]

I haven't been able to find the book Tim recommends at 22:40 , does anyone have the specific title and author? Thanks!

[@kkwilson27]

@hydrolist1 This is a very congenial interview. The interviewer is very generous in allowing Ferris to express himself, while, off course, exploring questions of his interest. I think your problem is with your temperament as opposed to anything the interviewer has done. Your caling him a "moron" is an indicator of your maladapted temperament. Perhaps you should honestly assess yourself to determine what your problem is. It does not seem to be external.

[@Gumby518]

"Hey Zach could you be quiet? That's how you manage a company" lol. But seriously, this video helps cut through the bs I've heard about promoting one's self or getting the ball rolling in a business

[@kevincrawfordphoto]

Really enjoyed the video.

[@makemoneyonline1free]

Thanks for sharing guys. I've always wanted to become an entrepreneur and start a business. I just wasn't sure how to do it. What do you guys think about affiliate marketing?

[@DaveMakesMoneyOnline]

Tim Ferriss is awesome... not my favorite video , but still good

[@camdixon]

What website does that banner display behind them? Anyone know?

[@danielali]

Anyone know what financial statement book he's referring to?

[@jessicac7775]

Is the forum still there? If so what's the URL I can't find it.

[@sebastianb2059]

can recommend to you listening to the last 15 minutes...... some interesting topics that they cover there

[@robzrob]

toodoolease. Oh, to do list!! Took me ages to decipher that!

[@MrNightLifeLover]

What was the first company he founded and how did he get the idea?

[@AquiVillasEspagne]

Very Nice Loic

[@ChrisW1234567]

That's not what I get out of it. I've learned a great deal about leveraging my time more effectively. After applying some of the principles within The 4-Hour Workweek, my company's 2012 revenue increased by 12.4%. Some people will get value from certain resources, while others will invest their time talking about how bad those same resources are. Are there any business books you have a positive opinion on, which have helped you grow your business?

[@familycashflow]

Business needs a lot patience to succeed, me myself struggled on the first years of my business, but as I develop new strategies everything works like a charm especially if you know how to manage and make use of the resources at hand. It would be great to share some success with positive people who wants to succeed in their business so feel free to add me as friend here on KZbin. Regards, Suzanne

[@JasonCWaite]

Excellent.

[@jonestyler22]

Who knows what book Tim says all Entrepenurs whould read? Warren Buffett wrote the intro... 22:45 Thanks!

[@millionairedropout]

Nice interview, if you are interested in starting a business take a look at The Millionaire Dropout, currently #5 in the New York Times Best-seller list

[@Bennyclay661]

Just a note to anyone Richard Branson wouldn't or wouldn't have watched this because he be instead doing and not watching probably a faster and funner way to learn also. yer this does make sense i know but you get the point library's closing

[@james737]

It's a shame this video isn't shorter. Now that I'm following the principles of the 4-Hour Working Week, I don't have time to watch this in full.

[@DrewPax85]

what if you are in debt, bad credit, and have no money? how do you get started on a business then????

[@smilelikeUmeanit90]

same

[@MrRoboto81]

man i would love to be able to do that...i'm just no good at this stuff...i'd be out of business before my grand opening lol

[@navprasad1010]

This Loic Le Meur guy just says random stuff and interrupts the flow of the conversation with crappy jokes. Really takes the attention off from what Tim is trying to say. Like at 31:22 to 31:29.

[@mytrustybr]

lol Tim Ferris is such a fucking gangster

[@dgwear69]

multi task it, listen to it while doing emails.

[@TheNTrumpet]

wish the dialog was louder...

[@garvamel]

thanks a lot!

[@harumiyagi]

i would like some feed back on my channel harumiyagi and i'm also doing another business and would like to see how i can apply tim concepts to my business

[@jake24550]

Have a business idea or more like a product if any one wants to hear and give fed back???

[@prathameshkhadse8329]

9:55 he was so angry!!

[@CHINEM0RA]

In this day and age can start a business for as little as $500 - It takes a lot of work but it's definitely possible. (I did it)

[@pstan26]

So who came first, Eric Ries or Tim Ferriss? lol

[@SocialMediaDoctor_]

Ferris is good

[@shakaama]

anyone that has spent 2 seconds starting a business and thinking about a real business model, already knows all of this. I assume you would only click on this video if you have thought about starting a business or have "started" one. I wasted 5 minutes fast forwarding through this. time management, outsourcing... really?

[@Drewster12345678]

HYPER UPPERCUT! HYPER! HYPER!

[@Whitesnakelover]

@james737 I've just wasted 2 seconds reading this. It would have been 5 seconds but I shortened it through the use of the speed reading techniques in the book. So I've gained 3 seconds. However, if I'd not read it I'd have saved 2 seconds and the additional minute it took to type this reply. Damn Book

[@Manguadesignz]

@aq1w2e3r4 yeh i like that your offering your services, may i be able to get a website done please? im only 18 and trying to get a business on the up go with a partner and need all the support possible

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[@1m2a3t4t5]

Will Nair Yeah isnt it amazing that people in better positions never want to give Real, solid, non-condescending advice to help their fellow citizens?

[@ryansloan7946]

Legend :)

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@tcounelis whats so distracting about it?

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[@ChrisW1234567]

Exactly, ModernBods...and you may have noticed that elegantsolution was unable to name one book that has helped in grow his business. My guess is because he has never owned a real business of his own. He is an armchair warrior.

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[@BulgarianShadow]

That painful occasion when your friend (who’s been a loser for a lifetime, I have to say) gets a jaw-dropping woman to fall in love with him in, like 3 weeks? Shit, that basically happened. I know I should be happy having said that I wish it was me. He smiled as he told me he learned from the Cupid Love System (Google it). I wish to hide inside of a cave right now.

[@Ekon32]

He should write a book called "How to Pretend to be an expert in fields I know little about" and trick stupid people.

[@kakusei3672]

you cannot deny Tim Ferris is a smart guy, being full of shit or not.

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[@skrevan19]

The interviewer is fine. Stop jumping on the bandwagon to fish for thumbs up

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[@RafaKBLudo]

@hydrolist1 oh, I thought you knew the English language =)

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[@GuhaJanakiraman]

Why can't the interviewer understand that he needs to just shut up? Let Tim talk. This is his interview

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[@mohottie30]

Does anyone else just hear blah blah blah blah blah blah because Tim is so hot?? Let's get him to do the interview shirtless!

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[@ChrisW1234567]

Again, your argument is based on fiction. Ferriss never states we can run an economy on scalable work only. You've fabricated an argument by stating he said something that he never said. I'm neither a thug nor a follower of any messiah. I listen to what people say and form my own opinions, as opposed to you who do not listen and put words in people's mouths. I don't agree with everything Ferriss says. I get value out of the parts I can apply. You should try that instead of making things up.

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[@riseaboveitalltoday]

I think that it is funny how he says he doesn't "lay on a beach rubbing his stomach with cocoa butter" when the cover of "The 4-Hours Workweek" is a dude laying in a hammock which is supported by palm trees. Someone is being disingenuous.

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