Ankur Nagpal is the founder of Teachable — a tool used by 5,000+ entrepreneurs to build and sell beautiful courses to their audience.
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- Teachable – Create compelling education courses for your audience
- eShares – Ankur’s small business resource
- High Output Management – Ankur’s top business book
- Freedom Journal – Organize your life and make each day count
3 Key Points:
- You’re a person, not a business. Be prepared for partnerships and business relationships to be emotionally challenging. Talk openly and accept that some things are difficult.
- A good decision now is better than a great decision later. Don’t worry about being perfect – get things done and move on.
- Make time for journaling and reflection. You’ll become more proactive, instead of reactive.
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and enter promo code FIRE to get your first month of service free!
Time Stamped Show Notes
(click the time stamp to jump directly to that point in the episode.)
- [01:40] – Teachable mostly generates revenue via monthly subscriptions
- [02:05] – Made around $200k in net revenue last month
- [02:50] – 17 full-time employees, growing by 1-2 people per month
- [03:05] – Ankur’s currently making $105k
- [03:42] – Ankur holds slightly over 50% of Teachable
- [04:15] – Running a new fundraising round: pre-money valuation of $27 million
- [05:20] – Founder of Snapchat loved what he was doing so much that he turned down $3 billion
- [6:00] – Worst Entrepreneurial Moment: Breaking up with his co-founder
- [08:10] – Co-founder took 7% of the company – is now in an investor role
- [09:18] – Entrepreneurial AH-HA Moment: Selling his first application
- [11:25] – Greatest weakness? – “Being completely disorganised”
- [11:55] – Delegation is the only thing that’s helping so far
- [12:43] – Starting the day with 10 minutes of journaling can be a great way to focus
- [13:20] – The Freedom Journal
- [14:20] – Greatest strength? – “Being instinctive and decisive…not second-guessing myself.”
- [15:55] – Speed of implementation is what counts
- [16:10] – “A good decision now is better than a great decision later”
- [16:31] – What has Ankur most fired up today? “Seeing the team I’m working with…Everything is so much easier with amazing people around me”
- [17:20] – Initially launched Teachable as ‘Fedora’ – bought teachable.com for $25,000
- [21:14] – The Lightning Round
- What was holding you back from becoming an entrepreneur? – “I’ve always been an entrepreneur. Never had a job in my life.”
- What’s the best piece of advice you’ve ever received? – “You can either start a local coffee shop or you can start Starbucks. You’ll work the same amount of time. Start Starbucks”
- A personal habit that contributes to your success? – “I have a very short memory for failure.”
- Share an internet resource, like Evernote, with Fire Nation – eShares
- If you could recommend one book for our listeners, what would it be and why? – High Output Management
- [22:55] – Parting guidance: “Have a bias towards action”
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