Ankur Nagpal is the founder of Teachable — a tool used by 5,000+ entrepreneurs to build and sell beautiful courses to their audience.
Subscribe to EOFire
- Your Big Idea: Successful Entrepreneurs have One Big Idea. Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
- Audible – Get a FREE Audiobook & 30 day trial if you’re not currently a member!
- 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.
- Acuity: Let Acuity be the gatekeeper to your calendar. Visit AcuityScheduling.com/fire and get 45 days FREE!
- Earth Class Mail: Move your snail mail to the cloud! Visit earthclassmail.com/fire
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”
1) Free Podcast Course: Learn from JLD how to create and launch your podcast!
2) Your Big Idea: Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
3) Funnel On Fire: Learn how to create a funnel that converts!