TEST IDEAS

“The worst situation we can be in is when our job is just good enough to cover our bills. If they were to get a 50 percent cut, then that could be the best thing that ever happened to them. ... sometimes when the boats are burned for us, we talk about the metaphor of burning your boats, not looking back, no plan B. When that choice is taken from us, it can be the best thing that ever happens to us.”

“No. There's just a big asterisk by it. You have to work your way up to passive income, which takes a lot longer than most people think. ... So it takes active work to then create passive income at some point in the future. Yes, or money, or a lot of money. Because there's a lot of course creators that make a lot of money by putting those two words in the name of their course.”

“AI consulting is exploding right now. There are 800,000 management consultants in the United States right now. And I think in five to 10 years, there's going to be at least 800,000 AI consultants. Someone that just takes time on their own to learn these $30 a month tools and implements them into small to large businesses. That's kind of boring, but people pay a lot of money.”

“Don't share your ideas because people will copy them. That's total garbage. We should share ideas with everyone. ... I think what people don't understand is that when a new entrant joins an industry, in most cases, not all cases, it grows the entire industry, right? ... When you join a market, it grows the market. I knew a woman who made a million dollars decorating porches with pumpkins, right? That's all she does.”

“I think they should try to find a customer first, a paying customer on any idea. Just steal an idea, honestly, like a burger restaurant. People try to think of a new idea. New ideas are more likely to fail than anything because it's new. I want an idea with precedent, right? I want a roadmap of someone that's gone before me and done that, and then I just want to copy that.”

“Listen, I am deaf and I'm deaf because I have listened to so many shitty speeches from Silicon Valley tech executives.”

“Probably by starting 80 side hustles. I've always said that the overlooked businesses are the ones that are the most profitable. Any side hustle can become a full-time business, anything. There is a million ways to make a million bucks. This is a business that nobody talks about. I've started 80 businesses. I don't have 80 today. Like 9 to 11. What you call like a business versus an investment, it's kind of fluid.”

“I think what people don't understand is that when a new entrant joins an industry, in most cases, not all cases, it grows the entire industry. When you join a market, it grows the market. I knew a woman who made a million dollars decorating porches with pumpkins, right? That's all she does. October hits and she charges $700 to put fancy pumpkins on a porch. And I posted about her and it went mega viral.”

“Don't share your ideas because people will copy them. That's total garbage. We should share ideas with everyone. ... I think what people don't understand is that when a new entrant joins an industry, in most cases, not all cases, it grows the entire industry, right? ... When you join a market, it grows the market. I knew a woman who made a million dollars decorating porches with pumpkins, right? That's all she does.”

“And then everything changed when I went and served a two-year mission for my church. I went to Hungary. I learned Hungarian and I knocked doors and I approached people on the street. I was an extreme introvert for two years. And that just like completely rewired my brain to make me embrace failure, embrace embarrassment and just not care anymore.”

“The worst situation we can be in is when our job is just good enough to cover our bills. If they were to get a 50 percent cut, then that could be the best thing that ever happened to them. Or if they were to be fired, that could be the best thing that ever happened to them. But like you said, to be in that just enough paycheck to paycheck, that's the worst because it's just enough for us to get by and for us to not be hungry enough.”

“But there needs to be a big enough need there, and they need to have a bias for action. Like they need to just be impatient. Impatience can be a superpower. They need to just do things, not just research endlessly, but be willing to go out there and try to get a customer. If they're not willing to do that, then they probably don't want to be an entrepreneur.”

“AI consulting is exploding right now. There are 800,000 management consultants in the United States right now. And I think in five to 10 years, there's going to be at least 800,000 AI consultants. Someone that just takes time on their own to learn these $30 a month tools and implements them into small to large businesses. That's kind of boring, but people pay a lot of money.”

“I think they should try to find a customer first, a paying customer on any idea. Just steal an idea, honestly, like a burger restaurant. People try to think of a new idea. New ideas are more likely to fail than anything because it's new. I want an idea with precedent, right? I want a roadmap of someone that's gone before me and done that, and then I just want to copy that.”

“Using natural language, just like we're using today, to build an app. Hey, build me a credit card dashboard where I can do travel hacking all in one place and see when my cards expire, so I don't pay the renewal fee on cards I'm not using, etc. One prompt to get one app. I mean, if you think about it, colleges are teaching students today what AI can already do better.”

“I think they should try to find a customer first, a paying customer on any idea. Just steal an idea, honestly, like a burger restaurant. People try to think of a new idea. New ideas are more likely to fail than anything because it's new. I want an idea with precedent, right? I want a roadmap of someone that's gone before me and done that, and then I just want to copy that.”

“Probably by starting 80 side hustles. I've always said that the overlooked businesses are the ones that are the most profitable. Any side hustle can become a full-time business, anything. There is a million ways to make a million bucks. This is a business that nobody talks about. I've started 80 businesses. I don't have 80 today. Like 9 to 11. What you call like a business versus an investment, it's kind of fluid.”

“And then everything changed when I went and served a two-year mission for my church. I went to Hungary. I learned Hungarian and I knocked doors and I approached people on the street. I was an extreme introvert for two years. And that just like completely rewired my brain to make me embrace failure, embrace embarrassment and just not care anymore.”

“I don't think there's any textbook telling you that it's a great idea to reorganize the whole company two months into a pandemic.”

“It comes down to high gross margin. It's very, very hard to overcome a business that does not have high gross profit margin. And then leadership, like you can't, you put a good leader in a crappy business and you've got a good business. You can't sacrifice that. I don't spend a lot of time in interviews and like going back and forth and doing reference checks. I just look at this like a numbers game.”

“You don't even need to go that far. You could just post your idea to Facebook marketplace. It doesn't need to be a product idea. It could be a service idea. Post it to Facebook marketplace, post another variation of it with a different price point or a different title and just see how many impressions each one gets.”

“I think what people don't understand is that when a new entrant joins an industry, in most cases, not all cases, it grows the entire industry. When you join a market, it grows the market. I knew a woman who made a million dollars decorating porches with pumpkins, right? That's all she does. October hits and she charges $700 to put fancy pumpkins on a porch. And I posted about her and it went mega viral.”

“The worst situation we can be in is when our job is just good enough to cover our bills. If they were to get a 50 percent cut, then that could be the best thing that ever happened to them. ... sometimes when the boats are burned for us, we talk about the metaphor of burning your boats, not looking back, no plan B. When that choice is taken from us, it can be the best thing that ever happens to us.”

“It comes down to high gross margin. It's very, very hard to overcome a business that does not have high gross profit margin. And then leadership, like you can't, you put a good leader in a crappy business and you've got a good business. You can't sacrifice that.”

“The worst situation we can be in is when our job is just good enough to cover our bills. If they were to get a 50 percent cut, then that could be the best thing that ever happened to them. Or if they were to be fired, that could be the best thing that ever happened to them. But like you said, to be in that just enough paycheck to paycheck, that's the worst because it's just enough for us to get by and for us to not be hungry enough.”

“But there needs to be a big enough need there, and they need to have a bias for action. Like they need to just be impatient. Impatience can be a superpower. They need to just do things, not just research endlessly, but be willing to go out there and try to get a customer. If they're not willing to do that, then they probably don't want to be an entrepreneur.”

“No. There's just a big asterisk by it. You have to work your way up to passive income, which takes a lot longer than most people think. ... So it takes active work to then create passive income at some point in the future. Yes, or money, or a lot of money. Because there's a lot of course creators that make a lot of money by putting those two words in the name of their course.”

“How many times in your life have you had a great boss? You're unlikely to need lots of fingers to count them. Your hand may well remain bald into a fist. It doesn't have to be this way. The ingredients of a decent manager are not a secret. They can be learned.”

“You don't even need to go that far. You could just post your idea to Facebook marketplace. It doesn't need to be a product idea. It could be a service idea. Post it to Facebook marketplace, post another variation of it with a different price point or a different title and just see how many impressions each one gets.”

“I kind of like cringe at that phrase because anything can scale. Any Side Hustle can become a full-time business. Like anything. I will go to my grave in saying that. So yeah, it's just, I don't know. It seems kind of like a negative connotation to me.”

“Using natural language, just like we're using today, to build an app. Hey, build me a credit card dashboard where I can do travel hacking all in one place and see when my cards expire, so I don't pay the renewal fee on cards I'm not using, etc. One prompt to get one app. I mean, if you think about it, colleges are teaching students today what AI can already do better.”

“It comes down to high gross margin. It's very, very hard to overcome a business that does not have high gross profit margin. And then leadership, like you can't, you put a good leader in a crappy business and you've got a good business. You can't sacrifice that.”

“I would say for every pumpkin spice latte, there were 10 other drinks that are no longer on the menu board.”

“It comes down to high gross margin. It's very, very hard to overcome a business that does not have high gross profit margin. And then leadership, like you can't, you put a good leader in a crappy business and you've got a good business. You can't sacrifice that. I don't spend a lot of time in interviews and like going back and forth and doing reference checks. I just look at this like a numbers game.”

“I think they should try to find a customer first, a paying customer on any idea. Just steal an idea, honestly, like a burger restaurant. People try to think of a new idea. New ideas are more likely to fail than anything because it's new. I want an idea with precedent, right? I want a roadmap of someone that's gone before me and done that, and then I just want to copy that.”

“I kind of like cringe at that phrase because anything can scale. Any Side Hustle can become a full-time business. Like anything. I will go to my grave in saying that. So yeah, it's just, I don't know. It seems kind of like a negative connotation to me.”