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
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Alex Hormozi: From Soul-Sucking Job to $120M in Revenue, How Alex Changed his Mind and Built an Empire by Age 32 | E198
YAPClassic: Steven Anderson Reveals The Secret To Amazon’s Rapid Growth
Scott Galloway: This Generation is Struggling, How America Went Adrift and What To Do About It | E197
Hala Taha: How I Built A Personal Brand And Massive Following On LinkedIn and YAP Podcast (Creative Counsel Podcast)
YAPClassic: Sheila Heen on Difficult Conversations and How to Discuss What Matters Most
Robert Cialdini: World’s #1 Influence and Persuasion Expert Shares All | E196
Hala Taha: How To Leverage LinkedIn To Grow Your Brand and Your Bank Account (The Action Academy Podcast)
YAPClassic: Jack Schafer Reveals FBI Tactics For Making People Like You More
Dave Ulrich: Culture and Leadership Principles for Young Entrepreneurs From the Father of Modern HR | E195
LinkedIn Masterclass: The LinkedIn Secrets That Scaled My Business from 0 to $5M+
YAPClassic: Seth Godin talks Marketing and Creativity
Michelle Lederman: Grow Your Network and Influence with the 11 Laws of Likability | E194
Hala Taha: I Failed Three Times Before I Found Success (Be Better Podcast)
Nicole Kalil: Overcome Imposter Syndrome and Become Confident in 60 Minutes | E193
YAPClassic: Alex Carter Will Teach You To Negotiate Anything
YAPClassic: Evan Carmichael on Surviving Entrepreneurship
Arthur C. Brooks: Cracking the Code to Happiness, The Biology of Intelligence, and Creating a Fulfilling Life | E192
Hala Taha: Never Give Up On Your Dreams (Follow Your Dream Podcast)
Kathryn Minshew: Crush Your Career, Beat Burnout, and Learn to Navigate the New Rules of Work | EP 191
YAPSnacks: Best of Chris Voss, World’s Top Negotiation Expert | Part 2
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