Podcast Welcome: A Toast to Truths is where I share the mental, financial and emotional frustrations of being an entrepreneur. This is S8E2 “Finding the Right Business For You”.
Special Guest Co-host- Sahil Lavingia
Bio: Sahil Lavingia is the founder and CEO of Gumroad, where he helps thousands of creators do more of what they love. They have sent over $175M to over 40,000 musicians, writers, filmmakers, podcasters, and more. Before Gumroad, he was the second employee at Pinterest where he designed and shipped Pinterest for iPhone. In his free time, he writes speculative fiction and paints.
Q: What does it take to discover what type of business you should have?
How the market plays into entrepreneurship for Gumroad
What you’re actually creating
Where did the idea from Gumroad come from
The lemonade stand
How long did it take to build Gumroad
How to build a platform
How to get into entrepreneurship
How hobbies play a role
Random, fun fact about me
Small ideas are okay
How a niche can benefit you in entrepreneurship
What is your focus?
Selling digital content
What happens when you get discouraged?
Scaling digital products
Who do you target?
What is TAM?
Jai Stone, Master Brand Coach helped me find my niche
But first, let’s take a sip.
Take a sip: So I’m very particular about what I recommend and use. As a loyal user over the past 5 years, I chose to use Gumroad as my ecommerce platform. It’s great for digital creators like you and me. I have watched it transform to be more user-friendly which helps when we just want to upload our work and begin selling in less than 5 minutes. I’ve also used it for memberships, ticket sales, consultations and digital training videos to name a few ways to use the platform. So far, they’ve put $175m in the pockets of creators around the world only taking a 5% cut. Not bad. Wouldn’t you like to join an ecommerce platform that brings in that type of money for its users? Go to gumroad.com/invites to sign up today.
Ways to use Gumroad
Differentiation from other ecommerce platforms
What Gumroad wants to do more of in 2019?
Gumroad is a great starting platform
Difference between someone starting and a business using an ecommerce platform
Don’t start broad
The pressure of being the best
The major difference between #1 and #2
What didn’t work out building Gumroad?
Raising money for people after natural disasters
What makes someone unsuccessful
Venture funded business
How to make more money
Spend time learning your craft
The 4-Hour Workweek
What motivates to reach a goal
Sahil: Be careful of the word business. Start focusing on starting small and doing something you love doing. Build an audience and learning your craft. It doesn’t have to be a business today. Having a successful product makes building a business easier. Benefit people’s live and building something of value.
Vernetta: Keep things simple. Don’t overlook the simple things in your life.
This has been ‘A Toast to Truths’ with me, Vernetta R. Freeney. This is season 8 episode 2 “Finding the Right Business For You” and the consequences we’ve encountered.