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1/ Most entrepreneurs start with one goal in mind:

FREEDOM.

If you truly value freedom, you should have one goal for your first company:

Something that can produce $100-$200k of personal income.

It can be boring and doesn't have to scale.
2/ You have to build a launchpad, before you build a rocket.

There is no greater security than knowing that, no matter what risks you take, you have a business churning out enough to pay for your livelihood.
3/ A recent example of a perfect "launchpad" business:

A guy I know found a very specific, niche style of timeless table that gets cloned by a gazillion furniture companies...
4/ He discovered the search term "X furniture knockoff reviews" had no competition on Google.

He bought all the knockoffs, wrote reviews, optimized the site for SEO, and started getting boatloads of free traffic.

Then, he went to all the companies and did affiliate deals.
5/ GENIUS. $50-$200k/yr for probably 5-10 days of easy work.

Now he's set for the foreseeable future and can take big swings.

This should be your single aspiration when starting out.

Forget 95% chance of failure startups.

Build something that makes you a living first.
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Andrew Wilkinson
@awilkinson
If you want to start a business, most people think you should learn specific skills (coding, accounting, cooking etc).

In reality, you should be studying psychology.

True business is delegation.

And in order to delegate effectively, you have to know enough to....
1. Choose the right type of people to fulfill your goal

2. Give them some high level rails (strategy, values, culture)

3. Incentivize them to hit it

80% of this is psychology, 20% is understanding the underlying skills...
Fortunately, you can learn almost everything you need to know about psychology by reading Charlie Munger (listen to his famous speech 'The Psychology of Human Misjudgement') and Robert Cialdini (read his book, 'Influence').

Mental models > skills.
Read 4 tweets
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Andrew Wilkinson
@awilkinson
In 1900, 40% of the population was involved in farming.

Today it's 1%.

Coding is the modern day farming.

We're all going to look back at the idea that we should be teaching kids Python and laugh.

Instead, *everyone* will be able to build stuff using NoCode.
Think about it...

Coding used to be completely inaccessible. You had to use punch cards and feed them into a machine the size of a room.

Today, that has evolved drastically, but it's STILL very inaccessible to the average person.

NoCode will abstract away that complexity.
Instead of learning how to punch jargon into a wall of green text, we should be teaching our kids how to use @webflow, @zapier, @coda_hq, @NotionHQ, @bubble, and other NoCode tools.

I would wager that 40% of them will get into it vs. 5-10% learning traditional coding.
Read 4 tweets
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Andrew Wilkinson
@awilkinson
A lot of people asked me what inspired my PE Hustle tweet...

There are many stories, but this one is my favorite:

In 2013, I spent 6 months doing a deal with a PE fund.

We spent MONTHS in meetings.

They asked us to FLY TO THEM multiple times and vice versa.
We introduced them to our ENTIRE MANAGEMENT TEAM and spooked them.

We went through MONTHS OF DILIGENCE.

I felt like I was going to get an ULCER, I was so stressed.

Finally, 6 mo in, we were at the finish line...

I was mentally and physically exhausted, but it was done...
I spent the afternoon in my lawyers office, signing a phone book worth of
legal documents.

The Holy Grail: the purchase and sale. The legally binding document whereby you actually agree to sell your company.
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