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Daniel Dipiazza: Rich 20 Something Book Summary


  • College Education is dead – its about self education
  • Entrepreneurship cant be learned it has to be experienced
  • Daniel’s (author) opinion is that it shouldn’t be that difficult to make money
  • Opportunities come to you when you’re visible.
  • Take skill you already have and create products and services that people will pay you money for.
  • The universe favors creation over stagnation.
  • When you venture out on your own people question you and don’t understand you. Being misunderstood comes with the territory.
  • Learn as you go. If you can help people get results faster than they would get them alone you can charge them for the service. It’s like helping someone learn how to ride a bike. You can teach someone how to ride a bike even if you haven’t won the tour of France. You don’t need to be world class to teach.
  • Business Strategy: Find a business that is selling something complimentary. For example the author wanted to tutor kids for SAT prep. He partnered with elite admission coaches that private schools work with to groom students to get into Ivy League schools. They had in house test prep. He agreed to do a 50:50 revenue split with them on any large classes of ten or more students. And a 70/30 split with any one on one sessions. This is how he got the instant hooks up with clients he wouldn’t otherwise have.
  • All of us have knowledge we can sell. Digital information products require almost 0 startup capital.
  • The way you acquire customers is through offering free content.
  • Get feedback from your audience – you can say – “I’m thinking about making a product in ___, is this something you would be interested in?
  • Sometimes the most difficult part of your journey is believing in yourself.

 

Quotes:

  • Don’t settle for the scraps society gives you and barely get by. If you are dissatisfied, uninspired, and in pain, don’t hide your feelings and hope they will go away. They will only intensify.
  • Creatively leverage your skills to get to the top more quickly.
  • Most entrepreneurs confuse motion with progress and work on things that don’t move the needle.
  • I wonder how many people wait until things are perfect in order to do their life’s work.
  • You have to believe in yourself especially when others don’t.
  • Sometimes taking an unconventional path means you won’t be able to see every step of the staircase.
  • Sometimes you have to work at something for a long time without any apparent progress before you get a break. Patience plus persistence with the right things = growth (similar to Bamboo growth.)
  • If you’re making a lot of money and aren’t excited, can you really say your successful?
  • It is not the strongest that survice, nor the most intelligent, but the ones that are most adaptable to change.
  • One stream of income isn’t enough anymore. The world is too expensive.
  • Imagine how many people you could help if you have more money.
  • Why don’t most of us have multiple streams of income?
  • Here’s a little secret: Nearly everyone feels incompetent at what they do for some period of time. Sometimes we feel incompetent for years or indefinitely. We don’t ever feel capable enough or deserving.
  • Some people failt to recognize their own accomplishments and are constantly worried about being exposed as a fraud.
  • Freelancing is the bridge between your 9-5pm and starting a business. Its the bridge between true independence.
  • Do free work and give incredible value. and you’ll never be unemployed again.
  • Doing the basics uncommonly well is more than enough to come out on top.
  • The purpose of a business, the very purpose, the only reason it exists in fact is to solve a problem. ON a day to day basis you should be thinking about things people around you struggle with. Then find ways to solve that problem through an idea, a device, a service, or even a piece of software.
  • Always think of a way to serve other people and get paid in return.
  • First look for things you’re already good at like hobbies or skills. Everybody has something they are good at.
  • The problem is most of us take our skills for granted. We don’t appreciate the fact that the knowledge and abilities we have at our disposal could be very valuable to someone else. Maybe your bilingual or you could play an instrument. Maybe your great at organizing closets or you’re good at cooking or have completed a few Triathlons.
  • Time is the only real commodity we have. We make money so that we can pay other people to do things for us in order to gain more time or to save time. It all comes back to time.
  • If you spent considerable amount of time to learn how to do something in school or as a hobby that time has immense value and rather than learning to do what you’ve done many people will be happy to pay you in order to get what they want more quickly.
  • If you have a boss you are not making as much money as you can be.
  • If people keep asking you for help, advice, or insights in an area, there is a good chance other people will ask you for help.
  • Start paying attention to the things people ask you for.
  • The author had his own web design company. He barely knew anything about web design in the beginning. He knew just enough. He posted on popular freelance sites like upwork. He paid himself to learn how to build websites.
  • Deloitte did a survey: 44% of Millennials are expected to leave their employer within the next two years or less. There is a crazy increase in the amount of self employers. Up from 17% of the workforce to a projected 43% in 2020.
  • How information products work: Content leads to opt in leads to email marketing leads to sales page leads to sale.
  • Provide content that people want to consume: (via blog or youtube). They decide they want to hear from you on a regular basis
  • Get people to sign up for your email newsletter.
  • Once you have the potential customers email addresses, give away even better free content then before. Offer them a product or an e book. You can use your email list to sell private coaching or live events.
  • How much money can you make? Teach beginners how to get started in the industry. With 1000 subscribers, you typically can engage 5 percent of 1,000 people. 5% of 1000 is 50 sales. That means you can make $10,000 from a $200 course. If you charge $2,000 a course and you sell to 1% which is 10 people those sales will make you $20,000
  • Look for ways to scale your knowledge through training.
  • The secret to standing out. Why would people be willing to listen to your advice? The answer is community. You have to create a community around your work. A community is a place where people understand us.
  • To start building a community he would respond to every comment on his blog. Send personalized video responses. Email people. Call on the phone and ask what he should write about. He would do this for his nearly 500 subscribers.
  • The people at the beginning of your journey are your ride and dies.
  • As he is writing this book he has 150,000 email subscribers. About 15,000 people open up the emails he sends on any given day. 15,000 people are part of his Facebook group.
  • He had a CRM tool to help him follow up with all his readers.
  • The core element of any info product is content. Content is the backbone of your business. Provide incredible world class content so that your readers say “If this is what I get for free, what do I get when I paid?”
  • Understand your audience’s needs and pain points. Don’t ever feel embarrassed or ashamed to charge people for something that’s going to help them.
  • It only takes 1 yes from someone to change the entire trajectory of your life.
  • Take top performers, dissect what they do, and then teach it to audiences.
  • “I feel like some sort of X-man. I try to get everybody’s unique superpower.”
  • I want to run my business for the rest of my life because it’s a legacy business not a lifestyle business.
  • The daily grind can eat you up inside. It wasn’t that I couldn’t do it, it’s that I didn’t care about it enough. When you’re really interested in something, doesn’t it become easier to learn?
  • Events are just events and the impact they have on our lives is almost entirely chained to how we understand or perceive them.
  • When emotions don’t take control, we can step outside of them and take action to change.
  • We often avoid challenge. But during challenges you learn: the skills you need to master that challenge AND the person you need to become to rise to that occasion.
  • Frustration always gives way to understanding, then confidence, and then finally, mastery.
  • Books were considered scarce because they contained the sum total of another humans experience in a particular area. The written word is the best way to see inside someone’s mind and understand their thoughts. If your solving a problem there’s a chance that someone solved all or a part of it and has written the solution in a book.
  • Reading is part of my mental hygiene.
  • Warren buffet and bill gates read 50-100 books a year.

 

Shout out to kristinacors.com for doing this written summary

To buy the book, click the link in the image below to purchase from Book Depository

 

http://www.bookdepository.com/?a_aid=bestbookbits1

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