Business Case Study

Getting started with an industry insight

Whilst large technology companies have for decades thrown money at research and development.

Speed of technology development is accelerating. Focus point of medium-sized companies are turning towards understanding deep technology. Fear of being in the crosshairs between developments.

Looking to move forward through breakthrough technology, sprung from research out of Universities. Desire to get ahead of their competition. Aiming to fuel technology advancements. Determined to lead the next industrial revolution.

What is deep technology

Deep technology is not technology based on providing regular product or service. It is a recent coined term. Deep Technology design is developed in-house and is different from what is out there.

It is not someone saying: “I saw this can be done, now I’m going to take the same tech and apply it to a different problem”.

It is actually that the technology in this company has only become possible. The academics have only written the paper on it.

Ideally, it has only just become possible.

This is why deep technology research and development services are so attractive. Deep technology is a perfect basis for building a company around it. It is much harder for competitors to follow you.

In the past, there was a longer time-frame to take an idea to commercial viability. The support system at present is crating shorter time-frame.

With this foundation, you can get operating leverage out of it as you scale, better the gross margins. As you scale you can go to more countries, more regions, more products so on and forth. These characteristics are fundamental to entrepreneurs. Giving ability to medium-sized company and build a big business.

If you’re differentiated then you can scale quick.

Bottom line is, if you’re effective and differentiated, your growth will be quick.

Source of development

Image: Oxford University

When it comes to deep technology, universities have various operations.

At one end, you have got professors using a public funding to build multi billion-pound facilities to do deep deep deep science. At the other end, you have got talent pool. Students who have new skills specifics to enhance technology development.

They lack commercial experience.

Current commercial experience comes from research and development companies. Venture capital firms are also hands on.

They do so with the interest of being at the heart of the next industrial revolution. Acting as middleman between companies aiming to develop deep technology, and academic talent pool.

They understand the unique requirements of companies to create new research or take existing research outputs of the staff and professors from universities. Then wrap commercial team around it to build a successful project.

This practice being effective, but often leads to closed doors practice and an exclusive network. Leading to painful slow speed development of technology clusters. And to stress the reduction of transparency. At the other end of the ‘human spectrum’, there are the deep technology academics which world is miss out on.

Moving forward we have made it our job to open up the discussions. Reaching out and collaborate with universities, venture capital firms, research and development companies.

This is the perfect opportunity for medium-sized companies to get involved.

Inspiration and imagination

Image: Kim Taylor

Deep genetics, material science, chemistry, there’s all sorts of stuff. Some fantastic opportunities are out there implemented across global industries.

People look at Deepmind as an example, one of the first companies to use the ‘deep’ word, now a fashionable term. They are not the exception in this space. But, they are a catalyst on getting companies inspired in developing breakthrough technology.

Indeed, it’s hard to exaggerate the positive impact Deepmind story has had. Within the machine learning world, Deepmind shows what’s possible for technology advancements.

The amazing combination of talent they have achieved is without precedent. Showing the utmost importance of building the correct combination of drive and skills. This talent pool in U.K and across Europe exist. They may be graduating or currently working at a deep technology company, they go on to invent the next generation of advancement.

Looking at machine learning, it is an area where a lot big exit are happening i.e. Magic Pony technology. Which is in a way is not a dissimilar model to Deepmind. A group of 15 machine learning researchers, applying very novel machine learning techniques to problems in video. In this case, around compression.

Many promising deep technology companies sold at the early stage of their lifetime. Twitter brought Magic Pony Technology relatively early in the company’s genesis for a large amount of money.

Is approach is lucrative. A financial gap in the market exists for deep technology companies. They are unable to grow into likes of Twitter scale business. (We cover this issue in further detail below.)

European technology ecosystem

Image : Google DeepMind

The big change we have before faced is the ability and the willingness of the medium sized companies to say, ‘No, we can do it here. We don’t need to go to the Silicon Valley. We can develop the technology and the talent pool. We can execute the company vision. We can get the finance. We can do it right here.’

We encourage company’s permanent home to be in their specific countries. Allowing these customers to create unique technology clusters around them. Allowing them to build and lead a successful ecosystem.

When raising funds, even to this day, many of the US investors will make it a condition for the companies to move over to the US. Having spent time in the US, there’s no magic pixie dust over there.

In Europe, you have access to a lot of raw talent. Hiring is much better and people are loyal and they stay with you through the journey. In a specific way, it is a lot better. This is due to our universities right across Europe.

To make a ‘go to market’ point, I want to go back to Deepmind. For them, it will be hard now to replicate and start again, doing what they did and what they’re doing. Deepmind said that “…we are only ever gonna do research, we’re not going to really solve commercial problems…”.

In the present moment, you can no longer do that. Our experience, sitting with academics, who love doing research. We have to often steer them towards understanding the end vision. Where it is going to end up commercially. Indeed it is a best quality problem to have.

We recommend medium sized companies to to engage with academics. Bouncing experienced commercial perspective and entwine them with experienced research developers. Allowing you to build strong foundation to let deep technology in becoming a reality. Furthermore, allow you to prepare and accelerated route to market.

It is important to consider the post knock-on effect of deep technology development. All the negative and positive. Preparing strategies to avoid or tailor effective resolution for negative impacts.

It takes one bad actor to create distrust in an entire industry. Technology leaders, universities and government bodies need consider regulations which protect consumers.

This requires enabling a voice at all levels from all sides.

VC and the Government on Deep Technology

Image: Marçal Prats

A lot has progressed for the better in the last 10 to 15 years. Through accidental or planned policies, organisations have worked hard in collaboration to develop breakthrough technology ecosystems. This was not an easy task and a lot of work left to do.

It is multi-factorial in the sense that, there were an enormous number of internet entrepreneurs in the late-90s. The intrapreneurial boom but there were few scientific talent.

In the present day, several things have changed. The VC ecosystem which went through a bad time in the early 90s, almost disappeared mid-90s. They reemerged really around that time. It has grown ever since to the present moment.

With a couple of hard knocks post compost of the financial crisis, it’s now in a better form than ever.

VC ecosystem is now recognised as an important instrument in the whole of economic policy. Europe financial system started to allocate capital to VCs. This goes back to 1997 when the EIF was formed, now has grown and still provide strong support for VCs.

One of the things that is not well known. Life sciences in European VC ecosystem has done better than Information Technology sector. Where there are unicorns are being built and surviving inside the European environment. We have got to solve the next edge problem and then move on to the next one.

The UK government has spent a lot of time figuring out how to get angels involved. The EIS tax system which many of our customers are the end beneficiaries of. This goes back to 1995, which has been improved on, enlarged and embraced as a mechanism to bring capital into the early stage.

On top of that, the other thing that’s happened. It happens in Europe and it happens in the UK as well. An active investment approach in research and development with outlook of economic growth.

The horizon 2020 program. This is the EU program for research and development won the battles of the budget of the program from 2013 to 2020. It was able to get 90 billion, a pretty impressive at the time. This was the EU side.

The UK government has invested substantially in research and development. The phase we’re in right now is that they understand, the politicians understand. They are allocating further capital both near and in the UK.

There’s also the issue of translation. It is how you then get the research and development outcome out into commercial scale. This has been left to more or less the private sector to some extent.

There is a financing gap as our customers start research and development, think of moving towards commercial implementation and growth. Mark Zuckerberg had up to 10 billion in the offer and he turned around and I said ‘No. I’m building something bigger’. This is a perfect example, when given the right encouragement, companies will wait for big outcome.

Mark Zuckerberg was did that in a context where he had access to capital.

With a correct eco-system has access to finance, talent pool, unbeatable attitude by VCs and government bodies. This allow ambitious deep technology companies to keep going for the long-term success. This will also prevent market dominance by a handful of companies.

The need to build this eco-system is why our work on deep technology is important and urgent. As an industry, we need help with moving forward, faster and overcome obstacles.

We need to select deep technology developers as ambassadors. Create voice at government level. Hold university posts and leadership roles from industries.

There is also a mass gap between white male holding privileged advocate roles over white women and other ethnicity.

Women are creating louder voice and striving forward with each others support, there is a lot of work to be done.

There is a gaping hole for people of different ethnicity. Again, the world is missing out on amazing talents, rich diverse thinking and opportunity to understand the world.

Our vision is when we have not one or even 50 unicorn companies. But when that becomes a regular feature of our landscape. When in our market cap, unicorn businesses that were founded less than 25 years ago as opposed to companies that are nearing century old. That is when we’ll see that we have made it.

We haven’t got there yet. But all that fabric for it to happen is here. With a support system, we can preserve and advance this. No matter what happens politically in the near future.

Being a revolutionary

Image: Peter Goes

Companies thinking about breakthrough technology space, see the big talent allocation problem. Building the correct source of development and the perfect team with balance skills.

Where do companies go, what do they want to do? Yet, more and more companies are jumping in to develop breakthrough technology. Partly because of the advantages created by structural policy, tax and investment reasons.

Fundamentally, it is a better time to build deep tech businesses.

These ideas need structured support to have a higher rate of success. Technology transformation have 70%+ failure rate. Building transformation through deep technology is a case by case unique game.

Although they can be costly and time-consuming, each step taken are calculated. Focused on the specific area with return on investment around 7–10x. Each idea can change the face of your industry. It is a transformation with prepared solutions for risks, but only with the right idea.

On the upside, firstly, we are now seeing the proof of the ability to scale business globally from Europe. This has become much more real than it felt 20 years ago.

Secondly, the cost has fallen dramatically. An example being, the largest companies are competing with each other to give server space. This is oppose to you having to build or buy a physical piece. This tells us all something. Almost all technology-based business operating structure can be found or created.

And third, our area of interest is the breadth and universality of some of the techniques that we talk about on deep technology. A fact, some of the most important companies in sectors like transportation, hospitality, agriculture which don’t sound like tech problems or didn’t in 20 years ago. They now are technology problems waiting to be solved. They are waiting on an impact solution created by the most daring and smartest talents.

Thanks to the miracle of the search engine, it is not hard to find these organisations. In many sectors across Europe and the wider world, to whom you can provide breakthrough technology based solutions.

Why there are not more and more Deep Technology unicorns

With all this opportunity, the question we should all ask is: Where are the Google scale and Facebook scale deep technology companies?

Simple. It’s the financing gap. It’s pretty straightforward.

European capital markets aren’t really in love with tech the way the Nasdaq is. This is also about the depth of the asset management system look at technology. You don’t have analysts who understand deep technology. They don’t buy growth, they buy dividends.

Lack of funding cuts the long-term growth. Deep technology companies are getting acquired in the early stage of their life.

By acting as an advocate for growth, we need to go deep into a series of matters to get European capital markets further interested in technology. Provide tangible execution of deep technology visions. Enable support and structure to achieve Google scale. We believe this is absolutely possible.

It is up to companies like us to solve the edge problem and then move on to the next problem. That’s what we’re doing and continue to need further help moving forward.

Peeking at global Deep Technology

Image: Florent Hauchard

Exactly the same factors that make Europe competitive with the US, now exist in India, Turkey, Indonesia and other countries. We are now no longer competing with the US and must recognise that. China is on the list but they tend to be rather insular.

The same factors are affecting deep technology companies and talents around the world. We must better make use tools and structures that we have access to in order to make deep technology successful.

Although Europe is leading in many aspects. Having diversity of ethnic deep technology leaders at all levels, will allow the promoting cross-border partnerships, learning opportunities and trade.

U.K and Europe staying ahead

Among gaining access to capital, attitudes and universities. One of the outstanding things Europe has for companies is, a diversity of thoughts. There are a lot of people, trying a lot of different things and that’s an important piece of it.

For example, no one has nailed AI yet. They have got lots of good tools for solving nice problems and they look like they can scale well. Yet this is some things we don’t know that yet. It is not guaranteed.

This is where Europe’s creative diversity will be the soul of technology advancement. This is one of the things that should make all companies across Europe hopeful and ambitious.

Organisations working with deep technology companies need to encourage a focus on building powerful outcomes rather than segmenting it into tighter and tighter fields.

Ensuring projects, customers and consultants are part of the global network. Are competing with other academics and companies on deep technology development. Become further active on grand challenges, competition and prizes.

If this doesn’t exist at your location….. create it. The US has done a great job of this but not done that as well here in Europe.

Our aim should be to further galvanise companies into attacking problems and create big impacts. The government absolutely has a role to play here. They need to continue to support and build on the strengths of our universities.

U.K. is an extraordinary country, which is relatively small to have so many leading universities, particularly in the deep technology space. These universities allow access to their innovation centres. They provide incredible research and development service to companies looking to make a difference.

Examples being Cambridge, Oxford, Imperial, University College London, Warwick, Edinburgh etc. These are some among many others in the U.K. and across Europe which are magnets for the world’s best talent.

This is a big priority, we need to make sure that we continue to be the magnet for the world’s best talent.

Joining the Deep Technology race

Image: Renaud Roche

The companies working on developing deep technology must aim to quickly build a team with specific background around their transformation project.

The speed of action is, if there’s one, the difference between Silicon Valley and Europe.

We are still slower on the speed of action in both areas of hiring and partnerships. Getting started beats getting ready. There are amazing infrastructure and systems in place to support your needs.

If we can increase the clock speed of research, prototype, tests to fail fast and then move on or build something quickly. This will allow rapid creation of a seamless route from development to commercialisation.

There’s a lot of money about. Particularly at the very early stage of deep technology development. We need companies to be totally convinced by their idea. If you are not convinced, then others will not be convinced.

Find guidelines to help you monitor and collaborate with someone else’s idea that you are sure about. Join their ourney until you get your own convincing idea.

About The Author

Mousuf Zaman.C — Managing Director of GDN Intelligence, inventors of new standards in deep technology research and development services. Standards that you deserve. www.gdnintel.com.

Foreign embassies in the UK.

Use this list responsibly. Be creative in your approach. Adding value in an unselfish way is the best strategy for collaboration.

Here is the London Diplomatic List contains the addresses and contact details of all embassies and High Commissions.

London Diplomatic List

Heads of Mission in order of precedence and their spouses

Consular Offices outside London

Honorary Consulates within the UK

 

Updated January 2018

Tools of Titans (Timothy Ferriss)

- Your Highlight at location 5075-5186 | Added on Thursday, 28 December 2017 20:11:15

 

1,000 TRUE FANS—REVISITED I have recommended Kevin Kelly’s “1,000 True Fans” to literally millions of people. Many guests in this book have done the same. “If you only read one article on marketing, make it this one” is my common wording.

Here’s a highly simplified synopsis: “Success” need not be complicated. Just start with making 1,000 people extremely, extremely happy.

Kevin’s orginal piece has grown outdated in a few places, so he was kind enough to write up a newer summary of core concepts for readers of this book. Since I first read the original nearly 10 years ago, I’ve tested his concepts across dozens of businesses, many of which are now multi-billion-dollar companies. I’ve added some of my core learnings and recommendations at the end. Enter Kevin I first published this idea in 2008, when it was embryonic and ragged, and now, 8 years later, my original essay needs an update—by someone other than me.

Here I’ll simply restate the core ideas, which I believe will be useful to anyone making things, or making things happen.—KK To be a successful creator, you don’t need millions. You don’t need millions of dollars or millions of customers, clients, or fans. To make a living as a craftsperson, photographer, musician, designer, author, animator, app maker, entrepreneur, or inventor you need only 1,000 true fans.

Truefans-1

A true fan is defined as “a fan who will buy anything you produce.” These diehard fans will drive 200 miles to see you sing; they will buy the hardback and paperback and audio versions of your book; they will purchase your next figurine, sight unseen; they will pay for the “best-of” DVD version of your free YouTube channel; they will come to your chef’s table once a month; they will buy the superdeluxe reissued hi-res box set of your stuff even though they have the low-res version.

They have a Google Alert set for your name; they bookmark the eBay page where your out-of-print editions show up; they come to your openings. They have you sign their copies; they buy the T-shirt, and the mug, and the hat; they can’t wait till you issue your next work. They are true fans. If you have roughly 1,000 fans like this (also known as superfans), you can make a living—if you are content to make a living, but not a fortune. Here’s how the math works.

You need to meet two criteria: First, you have to create enough each year that you can earn, on average, $100 profit from each true fan.

That is easier to do in some arts and businesses than others, but it is a good creative challenge in every area because it is always easier and better to give your existing customers more, than it is to find new fans.

 

Second, you must have a direct relationship with your fans.

That is, they must pay you directly. You get to keep all of their support, unlike the small percentage of their fees you might get from a music label, publisher, studio, retailer, or other intermediate. If you keep the full $100 from each true fan, then you need only 1,000 of them to earn $100K per year.

That’s a living for most folks. 1,000 customers is a whole lot more feasible to aim for than a million fans. Millions of paying fans is just not a realistic goal to shoot for, especially when you are starting out.

But 1,000 fans is doable. You might even be able to remember 1,000 names. If you added one new true fan per day, it’d only take a few years to gain 1,000. True fanship is doable. Pleasing a true fan is pleasurable and invigorating. It rewards the artist to remain true, to focus on the unique aspects of their work, the qualities that true fans appreciate.

 

The number 1,000 is not absolute. Its significance is in its rough order of magnitude—3 orders less than a million. The actual number has to be adjusted for each person. If you are able to only earn $50 per year per true fan, then you need 2,000. (Likewise, if you can sell $200 per year, you need only 500 true fans.) Or you many need only $75K per year to live on, so you adjust downward. Or if you are a duet, or have a partner, then you need to multiply by 2 to get 2,000 fans, etc. Another way to calculate the support of a true fan is to aim to get one day of their wages per year.

Can you excite or please them sufficiently to earn what they make from one day’s labor? That’s a high bar, but not impossible for 1,000 people worldwide. And of course, not every fan will be super. While the support of 1,000 true fans may be sufficient for a living, for every single true fan, you might have 2 or 3 regular fans.

Think of concentric circles with true fans at the center and a wider circle of regular fans around them. These regular fans may buy your creations occasionally, or may have bought only once. But their ordinary purchases expand your total income. Perhaps they bring in an additional 50%. Still, you want to focus on the superfans because the enthusiasm of true fans can increase the patronage of regular fans. True fans are not only the direct source of your income, but also your chief marketing force for the ordinary fans. Fans, customers, patrons have been around forever.

 

What’s new here? A couple of things. While direct relationships with customers was the default mode in old times, the benefits of modern retailing meant that most creators in the last century did not have direct contact with consumers.

Often even the publishers, studios, labels, and manufacturers did not have such crucial information as the names of their customers. For instance, despite being in business for hundreds of years, no New York book publisher knew the names of their core and dedicated readers. For previous creators, these intermediates (and there was often more than one) meant you need much larger audiences to have a success. With the advent of ubiquitous peer-to-peer communication and payment systems—also known as the web today—everyone has access to excellent tools that allow anyone to sell directly to anyone else in the world. So a creator in Bend, Oregon, can sell and deliver a song to someone in Kathmandu, Nepal, as easily as a New York record label (maybe even more easily).

This new technology permits creators to maintain relationships so that the customer can become a fan, and so that the creator keeps the total amount of payment, which reduces the number of fans needed. This new ability for the creator to retain the full price is revolutionary, but a second technological innovation amplifies that power further.

 

A fundamental virtue of a peer-to-peer network (like the web) is that the most obscure node is only one click away from the most popular node. In other words, the most obscure, under-selling book, song, or idea is only one click away from the best-selling book, song, or idea.

Early in the rise of the web, the large aggregators of content and products, such as eBay, Amazon, Netflix, etc., noticed that the total sales of *all* the lowest-selling obscure items would equal, or in some cases exceed, the sales of the few best-selling items. Chris Anderson (my successor at Wired) named this effect “the Long Tail,” for the visually graphed shape of the sales distribution curve: a low, nearly interminable line of items selling only a few copies per year that form a long “tail” for the abrupt vertical beast of a few bestsellers.

But the area of the tail was as big as the head. With that insight, the aggregators had great incentive to encourage audiences to click on the obscure items. They invented recommendation engines and other algorithms to channel attention to the rare creations in the long tail. Even web search companies like Google, Bing, and Baidu found it in their interests to reward searchers with the obscure because they could sell ads in the long tail as well.

The result was that the most obscure became less obscure. If you live in any of the 2 million small towns on Earth, you might be the only one in your town to crave death metal music, or get turned on by whispering, or want a left-handed fishing reel. Before the web, you’d never have a way to satisfy that desire.

 

You’d be alone in your fascination. But now, satisfaction is only one click away. Whatever your interests as a creator are, your 1,000 true fans are one click from you. As far as I can tell there is nothing—no product, no idea, no desire—without a fan base on the Internet. Everything made or thought of can interest at least one person in a million—it’s a low bar.

Yet if even only one out of a million people were interested, that’s potentially 7,000 people on the planet. That means that any 1-in-a-million appeal can find 1,000 true fans.

The trick is to practically find those fans, or, more accurately, to have them find you. One of the many new innovations serving the true fan creator is crowdfunding. Having your fans finance your next product is genius.

Win-win all around.

 

There are about 2,000 different crowdfunding platforms worldwide, many of them specializing in specific fields: raising money for science experiments, bands, or documentaries. Each has its own requirements and a different funding model, in addition to specialized interests.

Some platforms require “all-or-nothing” funding goals; others permit partial funding; some raise money for completed projects; some, like Patreon, fund ongoing projects. Patreon supporters might fund a monthly magazine, or a video series, or an artist’s salary.

The most famous and largest crowdfunder is Kickstarter, which has raised $2.5 billion for more than 100,000 projects. The average number of supporters for a successful Kickstarter project is 241 funders—far less than 1,000. That means if you have 1,000 true fans, you can do a crowdfunding campaign, because by definition a true fan will become a Kickstarter funder.

(Although the success of your campaign is dependent on what you ask of your fans). The truth is that cultivating 1,000 true fans is time-consuming, sometimes nerve-wracking, and not for everyone. Done well (and why not do it well?) it can become another full-time job. At best, it will be a consuming and challenging part-time task that requires ongoing skills. There are many creators who don’t want to deal with fans, and honestly should not.

 

They should just paint, or sew, or make music, and hire someone else to deal with their superfans. If that is you, and you add someone to deal with fans, a helper will skew your formula, increasing the number of fans you need, but that might be the best mix. If you go that far, then why not “subcontract” out dealing with fans to the middle people—the labels and studios and publishers and retailers? If they work for you, fine, but remember, in most cases they would be even worse at this than you would.

The mathematics of 1,000 true fans is not a binary choice. You don’t have to go this route to the exclusion of another. Many creators, including me, will use direct relations with superfans in addition to mainstream intermediaries. I have been published by several big-time New York publishers, I have self-published, and I have used Kickstarter to publish to my true fans. I chose each format depending on the content and my aim. But in every case, cultivating my true fans enriches the route I choose.

 

The takeaway: 1,000 true fans is an alternative path to success other than stardom. Instead of trying to reach the narrow and unlikely peaks of platinum bestseller hits, blockbusters, and celebrity status, you can aim for direct connection with 1,000 true fans.

On your way, no matter how many fans you actually succeed in gaining, you’ll be surrounded not by faddish infatuation, but by genuine and true appreciation. It’s a much saner destiny to hope for. And you are much more likely to actually arrive there. Some Thoughts from Tim Kevin distinguishes between “making a living” and “making a fortune,” which is an important starting point for the discussion. However, it’s worth noting that these aren’t necessarily mutually exclusive.

Creating 1,000 true fans is also how you create massive hits, perennial mega-bestsellers, and worldwide fame (be careful what you wish for). Everything big starts small and focused (see Peter Thiel, page 232). 1,000 true fans is step #1, whether you want a $100K per year business or the next Uber. I’ve seen this with all of my fastest-growing and most successful startups.

 

They start laser-focused on 100 to 1,000 people, niche-ing down as necessary with their messaging and targeting (demographically, geographically, etc.) to get to a manageable and cost-effectively reachable number. So, you may ask yourself, “Why aim for a mere $100K when I can try to build a billion-dollar business?” Two reasons:

1) Aiming for the latter from the outset often leads to neglecting the high-touch 1,000 true fans who act as your most powerful unpaid marketing force for “crossing the chasm” into the mainstream. If you don’t build that initial army, you’re likely to fail.

2) Do you really want to build and manage a big company? For most people, it’s not a fun experience; it’s an all-consuming taskmaster.

There are certainly ace CEOs who thread the needle and enjoy this roller coaster, but they are outliers. Read Small Giants by Bo Burlingham for some fantastic examples of companies that choose to be the best rather than the biggest. And, as Kevin noted, the number of your true fans can actually be far fewer than 1,000.

This is particularly true if you

  1. produce content that attracts a niche but well-heeled group, and then
  2. invite and look for indirect revenue opportunities not based on onsite transactions (e.g., paid speaking, investment opportunities, consulting).

These can be far more lucrative than most advertising, tip jars, and the like. One reasonably common critique of “1,000 True Fans” comes from musicians, for instance, who say something along the lines of, “But I can only sell an album for $10, and I can only produce one per year. That’s only $10K and not enough to live on. ‘1,000 True Fans’ doesn’t work.” Scores of book writers have a similar argument, but it’s flawed. Remember, a true true fan will buy whatever you put out.

If they refuse to purchase above $10, you haven’t done the work to find and cultivate real true fans. If you have true fans, it’s your responsibility to consider (and test) higher-priced, higher-value options outside of the $10 paradigm. Don’t be locked in the pricing model of the incumbents. In 2015, Wu-Tang Clan sold a single bespoke album at auction—in a handcrafted silver and nickel box made by British-Moroccan artist Yahya—to one person for $2 million.

There are a lot of options between $10 and $2 million. See my “free or ultra-premium” approach on page 290, which has provided me with complete creative and financial freedom. You do not have to sacrifice the integrity of your art for a respectable income. You just need to create a great experience and charge enough. Not sure what to charge?

Perhaps you should figure out your Target Monthly Income (TMI) for your ideal lifestyle and work backward. For examples and a simple worksheet exercise, visit Tim Ferriss website: fourhourworkweek.com/tmi

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I heard some pretty terrible advice the other day.

The advice came on a business podcast from a successful entrepreneur who had built a company to billion-dollar status. In this podcast, he told the audience that if you are going to be successful as an entrepreneur, you cannot have another job.

What BS is this? There are only 10 conditions on why you should Quit this 2016!

Very few companies that enjoy incredible success today were started by people who had no other commitments. Instead, they were built in basements and garages, and while the founder was employed at another company.

I spend my nine to five (and then some!) working at Sainsbury and internal consulting positions at several larger companies. While springing up 12 start-ups over the period of 4 years. I spent 3 months trailing each to if they worked or not. 10 failed. Yes, it is important to have your time schedule perfect (see our 15 time management tips!) to make the most of it.

1 stupidly sold at a fraction of it’s worth and only 1 which has flourished over couple of years which has opened up opportunities of 4 new start-ups. Only failure led to these

But I'm not Superman - just incredibly efficient at taking reducing risks in high risk environment with the support of my network to help me face my fears.

Today I want to help you become incredibly efficient, as well as to expel the myth once and for all that a person needs to quit their job to enjoy entrepreneurship and build an amazing business.

The following are some of the incredible ways to build your entrepreneurial pursuit with the help of your nine-to-five job.

 

  1. Think of your job as a blessing.

I though my job was holding me back, this was until my first client was the company I worked for. Money was the fuel that kept my entrepreneurial dreams alive to allow me to building your side project.

Without that paycheck, you'll be out there spending all your time trying to raise money rather that spending your time perfecting your business.

My job was my partner that held me until the time is right to leave.

 

  1. You have no friends anymore

I found it tough to manage my own time but it became critical. Everyone around me enjoyed adding things to my schedule, and reducing their to-do list.

Yes, the major disadvantage of a job is the 40 hours of time so my dreams became my first priority. However – make time for your emotional support from those who care about you. Those that stay around, are those who will understand and help you to achieve your dreams.

I want to put this in perspective for you. There are 168 hours in a week. Your job takes up 40, your sleep takes up 56, and you are still left with 72 hours to build your business.

You don't need Netflix. News are trying to scare you. How many minutes have you spent staring at your phone today? Use your free time playing with ideas. How can you add value to yourself? Only when you value yourself can you add value to others and charge people for it.

I changed myself first so I can be the first and the best example.

Stop whining about how "little time" you have, and start asking yourself, "How can I manage the abundance of free time I have better?"

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  1. Sleep 8 Hours.

People work to have a better living condition. Soon as you have your own business, it won’t get much easier in the future. Entrepreneurship definition to me is to create value to yourself and those around you. If your aiming for age 30 retirement then you will have a tough time maintaining your passion to setting up a business. I am not saying it’s impossible. I am 100% saying  you 99% you will lose motivation.

Much attention is given to "hackathons" and people who build a company by locking themselves in a room for a month and emerging with the next next billion pound company.

That's not how most businesses are built. Let me put something in to perspective.

He told me I need to build a £10 million pound company to be the top 1% earner in the world. I take conversations as advise and make my own mind up.

He had authority. He influences many everyday. I respect that however he was stupidly dangerous to others. His advise can easily put the pressure of quick results.

I did the research. To be the top 5% - you need to earn £270k and to be the top 1%, exactly £688,228. Once you know this, you don’t need to put huge pressure on yourself to build a multi-million pound company over a sleepless week.

Seth Godin is famous for saying that the average time for overnight success in a startup is six years, even working full-time. It took tears and consistent daily practise of generating ideas for 5 years to build a long-term value. It's not enough to just work hard. It's not enough to work hard every day. Ideas are the new currency. Everyone can start a business. A good ideas starting point and better ideas offered to clients over a period of time around your full-time job. You will be invincible.

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  1. Outsource what you can.

What can you do that no one else can do?

Do that.  Everything else, freelance and outsource. UK or India or other cheaper areas. This multiplies your 72 hours. I read it was possible to outsource argue my argument. I was working with Sam from Philippines. I didn’t have time to argue with her. I told Sam to e-mail her – “I don’t have time for this. I don’t think the meal is a good idea when we are arguing.”

 

Sam replied:

“My dear, you mean a lot to me. It’s the work pressure with this big deal happening. It’s only until next week.

I hate to let you down but will mean a lot if we could reschedule then?”

 

……

Sam became my relationship advisor. We broke up, Sam couldn’t keep us together.

So I had the time to find a Business partner. My loving Co-Founder. We multiplied 72 x 2 = 142 hours a week suddenly became avaible.

We brought on another employee who wanted to be freelancer. 72 x 3 = 216 was all we needed. We made it work.

 

  1. Use your job as fuel.

I never been chased by a tiger. I am glad my ancestors did. They would be proud they didn’t give up on their life because I am remembering them today.

They had high and peak performance.

Funny, my ancestors gave me the most valuable lesson. Peak performance can only be achieved when you put yourself in an intense situation where it is required.

A job was like a tiger to me. I was afraid to speak up in case it heard me and attacked me. I froze like a statue. A shackled slave kept from the reach of my dreams. However, the job taught me how to survive from the dangers of the world.

Use the job as a reason to run as fast as you can. I had no other choice but to run as fast as possible to perform at my peak performance.

Whatever you need to accomplish, learn all the skills possible from the job you are in. You can even consider taking your idea and initiative to become an Entre-ployee.

 

Everyday I am learning. I am a student and everyone around me are the teacher. Everyone around me are superhero.

The super villains may be the boss. If I am to defeat them on the final level, I want to create my own Justice League, I am the Robin to Batman. I am a student and I am always learning.

If you want to apply to be in the league, to be a superhero you have to overcome your fears, not be a slave to it.  We have created the Ultimate Cheat List your for you to do that.

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Hack into your unlimited potential this weekend
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We help you construct dreams and ideas in the reality you desire

 

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WeekendHack StartUp School

Hack into your unlimited potential this weekend
we have created 100s of ideas and dreams into  a breathing reality

As a Full-time employees, find the time to achieve your dreams
of becoming your own boss. Over one intensive weekend, we give you
the time and the correct resources to StartUp your own business.

We help you construct dreams and ideas in the reality you desire

 

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Be an Entre-ployee. You can add value to those around you. Everyone can.

I worked at Tesco’s, I liked those I worked with. Maybe you like the people you work with and you like what you are doing. I wish I were you in most my jobs.

At a job you can do something that you can’t do elsewhere. You can LINK your financial success (or other kinds of success) to the success of the larger company. If you can figure out how to do this, then you can stay at your job forever and watch it grow.

On the other hand, if you can’t figure out how to do this then you MUST QUIT. But only when eliminating risks. Here are the 10 reasons you should quit your job!

I was always trying to figure out how to convince couple of the companies I worked for to spin off new divisions or companies that maybe I could help run. It never worked out. Nobody listened to me at first. But I tried. Then I got lucky.

A great example is the world famous Craig Silverstein. Oh wait! You don’t know him? He’s a low-level programmer at the Khan Academy. But before that he was the first employee ever at Google. And now he’s a billionaire.

His success was totally tied to the success of Google. He had great ideas and he picked up the courage and pitched. The companies, Google and Khan Academy have an environment that allows the environment which allows companies to grow. Until recently, employees with a great idea to solve an industry problem often were faced with having to leave their job to bootstrap a startup. They had no other options. The companies didn’t give them that option.

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While being experts in their field, most have never built a business from scratch, and get overwhelmed with all the hats required to grow a startup.

Enter Intrapreneurship

With the growth of technology has allowed lots of start-ups to challenge larger companies. StartUps can quickly pivots with the changing technology. Many larger companies can’t do that.

They are falling behind.

They rely on you to inform them. You are smarter then your boss. They employed you for your exact reason, for you to give your specialist skills to them.

You can help corporations to starting latching onto the concept of “intrapreneurship”. Ideas are the new currency of world. Or your going to be far behind in this ever changing industry dynamics. As an Entre-ploee, you can take an idea from start to finish and turn into a profitable extension of the business.

You are generating value for yourself and the company. Create a value for them and they will give you access to vital tools and expertise of the company. That’s the start, then comes funding, potential clients, mentorship, and a overabundance of other opportunities.

Giants exist to make money. They want to keep growing. Create mutual benefit. They will love you. Yet, not many companies have embraced intrapreneurship. Working with BHS internally, I saw their growth and longevity created by entre-ploees (Then they went in to administration!).

You have common sense. Your boss are busy with time consuming decisions, negotiations, client demands and managing day to day activities. You do the tasks they have no time for. You create the foundation. You know the business better then they do. They reply on you to provide feedback on the companies flaws.

You know the solutions. You can add value and are far more superior to be in a position to improve productivity in your own work place. If your boss is not utilising you and your brain, they are destined to be left behind with the ever growing competition. As a cog in the systematic gear, you will also be left behind. That's when you start to plan your own business. Here are 5 tips of starting up a business when in a day job, or night!

But, first, why not call them to an intrapreneurial action? Approach and slap reality in to them. They are busy worrying, and denying the acceptance of the era of ideas and super impressive start-ups.

Outside of work, you have on average 72 hours free time every week. Build a good idea in your own time. The idea your company is being too stubborn to implement. Then sell it them...or the competition. My employees were my first client. It works!

If you have an idea and they don’t know how to go about implementing intrapreneurship, let them know. Heck send them this post.

It ultimately falls upon your idea and you with your entrepreneurial spirit. Take the time to define your idea with logic and approach your boss. Show how you will add value and bring Return for the time and money they are investing on you. Why they should take and fly off with your idea and not the competition.

Here are 8 musts to become and entre-ployee:.

  1. Distinguish yourself as an experienced and capable ofentre-ployee
  2. Be one of the most sought after professionals
  3. Define your own career path in or out of an organisation
  4. Unlock the key attribute of yourself
  5. Take ownership for your own growth and development
  6. Leverage your strengths and develop areas needing work
  7. Differentiate yourself among your peers and in the marketplace
  8. Enjoy the personal and professional rewards of being engaged at work

 

Tell your company you’re their god sent gift to them. It’s a miracle. Tell them of the 3 Reasons Why Companies Fail at Intrapreneurship – and How they can Succeed with your help.

Here is my open letter to your boss:

Dear boss,

Let me allow you to see clearly in the only way I know, the honest straight forward way. So you can change your perception and see the world via a new lenses.

If you don’t take advantage of any pro-active employee out of stubbornness, this the reason why you are likely to fall behind in the future. We are no longer in the 2000s. Old ways will no longer allow you to succeed in 5 years and thereafter. Technology is changing. And changing fast. The medium your customers and clients reach you are evolving along these technological advances.

You run a successful business. Congratulation. You are the leader – your employees are your followers with a smart brain. That is why you hired them. Let them do their job and use their expertise. I don’t know everything. I am a student. I learn everyday. You will be surprised what you can learn fromt them.

Learning from others, being a student to everyone I meet allows me to improve 1% everyday. I am 365% better every year. Be a student. Hear their ideas and learn from them.  Let intrapreneurship help you fast track to offer new values not only to yourself but also to your customers.

Explore innovation opportunities. Use 100% of your team’s capacity. They will be grateful to you for it.

This part of the article is not to be condescending but instead is aimed at highlighting a few reasons why companies are unsuccessful at inculcating intrapreneurship or startup culture into their normal activities.

The reasons why they fall behind. The reasons why top companies in the world keep being leaders, here is 10 inspiring examples on entre-ployees https://www.vocoli.com/blog/may-2014/10-inspiring-examples-of-successful-intrapreneurship/

We all like to emulate the Apples, Googles and Starbucks of success stries, however, everything needs to be built on a foundation. If I have convinced you to create Entre-ployee environment, then lesson 1. Don’t rush in to it.

Create a well-thought-out-strategies for successful intrapreneurship environment. Here are the top 10 ways to create an intrapreneurial organisation.

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WeekendHack StartUp School

Hack into your unlimited potential this weekend
we have created 100s of ideas and dreams into  a breathing reality

As a Full-time employees, find the time to achieve your dreams
of becoming your own boss. Over one intensive weekend, we give you
the time and the correct resources to StartUp your own business.

We help you construct dreams and ideas in the reality you desire

 

Download Toolbox Banner

 

Banner - Mailchimp

WeekendHack StartUp School

Hack into your unlimited potential this weekend
we have created 100s of ideas and dreams into  a breathing reality

As a Full-time employees, find the time to achieve your dreams
of becoming your own boss. Over one intensive weekend, we give you
the time and the correct resources to StartUp your own business.

We help you construct dreams and ideas in the reality you desire

 

Download Toolbox Banner