Emil Egeland is the founder of the software company Yellow Jersey. Prior to Yellow Jersey, Emil founded two companies that went from 0 to over $1M in a year each. He then helped another business go from $1.1M to $6M in two years.
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3 Value Bombs
1) If you’re looking for software, then there’s somebody out there who’s got what you need.
2) Your software has to do what it has to do, and it has to do it relatively fast.
3) You can buy source code for different portions of your software.
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Today’s Audio MASTERCLASS: How Entrepreneurs Can Build Their Own App without Knowing How to Write a Single Line of Code.
[1:36] – Emil shares something that he believes about becoming successful that most people disagree with.
- If you want to be a successful entrepreneur, you have to be a sadomasochist. There’s a 90% chance you’re going to fail and you’ve got to be up for the pain of failing.
[2:57] – Can anybody really create a software?
- If you create a software, like most people do in a one-dimensional way, you have to type it line by line.
- Most entrepreneurs don’t know how to code, and it’s a very slow way to create an application or a software.
[9:27] – Emil talks about going back to square one.
- He went to Upwork with a design – hand sketched on paper. He then re-did the design in PowerPoint, found a designer on Fiverr, and took it back to Upwork to look for software developers to develop a Proposal Generator.
- With the proposal generator, their sales went crazy.
- Bankruptcy is something you don’t want to face when you’ve got a small kid at home and a wife.
[16:26] – A timeout to thank our sponsors, HubSpot and Thinkific!
[18:47] – Finding a good developer is really hard. What are the best ways to tell if a developer is good or not?
- Your software has to do what it has to do, and it has to do it relatively fast.
[20:48] – How much should one expect to pay for a developer?
- Depending on the country… in Norway you can pay around $130/hr, but in other countries like Bangladesh, India, Ukraine it may only cost around $20/hr.
- You may consider a fixed fee because some people work really fast, and some might work really slow.
- The difference between the output of a good one and a great one is around 10x
[22:34] – Things to look out for when creating software.
- You need project management, timesheets, etc.
- You can buy source code for different portions of your software.
[24:36] – Emil’s key takeaway and call to action for Fire Nation!
- If you’re looking for a software, there’s somebody out there who’s got what you need. If you have the software, you’ll have more customers.
- Gift for Fire Nation – Use promo code firenation2022 to get 30% off on your first year’s subscription if you buy the annual plan!
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