Young and Profiting with Hala Taha
Business:Entrepreneurship
When Vishen Lakhiani moved to New York City, he was making $7,500 a month at a company with a difficult, problematic, and even racist culture. After creating multiple streams of passive income and taking baby steps toward his goal of running his own meditation business, he was able to quit his job and eventually scale his company, Mindvalley, to nine figures. Vishen’s story is one of many entrepreneurial success stories we’ve heard on Young and Profiting Podcast, and in this episode, you’ll learn about the fundamentals of starting a business from these successes.
Featured in this episode are Vishen Lakhiani, founder and CEO of Mindvalley; Nick Loper, founder of the popular blog and podcast, Side Hustle Nation; Josh Kaufman, author of The Personal MBA; and Alex Hormozi, founder of Acquisition.com and bestselling author of $100M Offers: How To Make Offers So Good People Feel Stupid Saying No.
In this episode, Hala and various guests will discuss:
- Calculating your minimal livable income (MLI)
- Do what you love, what you’re good at, and what will make you money
- Don’t quit your day job until you can afford to
- Generating passive income
- Testing your business idea
- Today’s most profitable side hustles
- Finding a viable market
- Five parts of every business
- You can make more money by serving a different audience
- Why you shouldn’t focus entirely on generating revenue when you’re first starting out
- And other topics…
Resources Mentioned:
- Vishen Lakhiani: The Law of Attraction is Bunk! The Truth about Intuition and Manifesting for High Performers | E201: https://podcasts.apple.com/us/podcast/vishen-lakhiani-the-law-of-attraction-is-bunk/id1368888880?i=1000590605986
- Nick Loper: The Art of Side Hustles | E10: https://podcasts.apple.com/us/podcast/nick-loper-the-art-of-side-hustles-e10/id1368888880?i=1000423665576
- Josh Kaufman: Launching a Business or Side Hustle | E106: https://podcasts.apple.com/us/podcast/josh-kaufman-launching-a-business-or-side-hustle-e106/id1368888880?i=1000512998935
- Alex Hormozi: The Value Equation, How to Make Offers So Good People Feel Stupid Saying No | E199: https://podcasts.apple.com/us/podcast/alex-hormozi-the-value-equation-how-to-make-offers-so/id1368888880?i=1000588801031
- Josh Kaufman’s Book, The Personal MBA: https://personalmba.com/
- Napoleon Hill’s Book, Think and Grow Rich: https://www.amazon.com/Think-Grow-Rich-Landmark-Bestseller/dp/1585424331
Sponsored By:
Shopify - Sign up for a free trial at shopify.com/profiting
The Jordan Harbinger Show - Check out jordanharbinger.com/start for some episode recommendations
More About Young and Profiting
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Learn more about YAP Media Agency Services - yapmedia.io/
Join Hala's LinkedIn Masterclass - yapmedia.io/course
Hala Taha: Leveraging LinkedIn for Career and Business Success | How to Money
Michael Easter: The Comfort Crisis, Embracing Discomfort to Reclaim Your Wild, Happy, Healthy Self | E290
Sal Khan: How AI Will Revolutionize Education | E289
Bill Perkins: I’m Planning to Die with Zero Dollars in the Bank and You Should Too | E288
YAPClassic: Nir Eyal on How to Become Indistractable
Dr. Michael Gervais: The Relationship Between Your Mind and Performance | E287
Lisa Bilyeu: Attract Meaningful Relationships and Achieve Your Dreams with Radical Confidence | E286
Fei-Fei Li: The “Godmother of AI”, Keeping Humanity at the Heart of the AI Revolution | E285
YAPClassic: Ex-Google Officer Mo Gawdat Warns About the Dangers of AI, Urges All to Prepare Now!
Stephen Wolfram: AI, ChatGPT, and the Computational Nature of Reality | E284
YAPClassic: Brian Scudamore, Turning Trash Into a $600M Empire
Sally Helgesen: How Inclusion and Visionary Leadership Fuel Innovation at Work | E283
Joel Larsgaard & Matt Altmix: Our Top Personal Finance Hacks for Millennials | E282
Ryan Serhant: The 3-Step Strategy System You Need to Build Your Brand From Scratch | E281
YAPClassic: David Allen on Mastering the Art of Stress-Free Productivity
Dr. Will Cole: Optimize Your Gut Health for Peak Performance | E280
Sean Cannell: Start a Profitable YouTube Channel in 2024 | Part 2 | E279
Sean Cannell: Start a Profitable YouTube Channel in 2024 | Part 1 | E278
YAPClassic: Vernā Myers on Overcoming Bias and Promoting Equity
Kelly Roach: Designing a Balanced Life for Family-Focused Entrepreneurs | E277
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