Mukesh is a software professional turned author of fiction and nonfiction books. His upcoming nonfiction title Bootstrap Dream: How to Start a Tech Company from Scratch will inspire millions.
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Bootstrap Dream – Get the first chapter free!
3 Value Bombs
1) Disruptive innovation establishes ways and creates new markets and new valuable networks. Technology disruptions that have happened in the world are spearheaded by startups.
2) For startups, it is important to build a good culture.
3) If you follow your passion, you can leave behind a legacy.
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Today’s Audio MASTERCLASS: Bootstrap Your Dream
[1:13] – Mukesh Alex shares something that he believes about becoming successful that most people disagree with.
- If you are good at something and genuinely ready to share that knowledge with the world, you will become massively successful.
[2:39] – A quick rundown of Mukesh Alex’a background
- He has a passion for writing.
- He realized that he was a slave to a monotonous routine.
- He reignited his passion in writing and published 2 short fiction books. In that moment he realized what fulfillment means. That was when he planned to exit his corporate career and pursue his passion.
[4:15] – How can Fire Nation join this massive software movement?
- In the past decade, almost every industry was disrupted by technology companies.
- The COVID-19 situation forced every industry to go through a digital transformation.
[6:30] – We need to make a name for ourselves in this loud and busy world. How can a startup disrupt an entire industry?
- There are 3 kinds of innovation: Sustaining innovation, efficiency innovation, and disruptive innovation.
- Sustaining innovation improves an existing product
- Efficiency innovation finds new efficient ways of using a previous product.
- Disruptive innovation establishes ways and creates new markets and new valuable networks. Technology disruptions that have happened in the world are spearheaded by startups.
[8:16] – A timeout to thank our sponsors, Thinkific and Thrivetime Show!
[10:32] – The biggest challenge startup entrepreneurs will face.
- It is possible to replicate similar sections, or for a non-technical person to startup a technology company. One of the main reasons they fail is that they don’t have a proper mentor, or not enough money, or time.
- All successful startups follow one formula, and you can get it in Mukesh Alex’s book Bootstrap Dream.
[12:35] – Mukesh Alex shares more details about the Bootstrap Dream.
- It talks about how to evaluate and validate ideas. It also talks about how to follow startup strategies, building an ideal team, or how to find a co-founder.
- For startups, it is important to build a good culture.
[13:39] – Why should Fire Nation imagine their name next to Elon Musk, Steve Jobs, or Jeff Bezos?
- These are people who have ventured into uncertainty, but followed their passion relentlessly despite all the failures they have faced.
- Banking is actually very inefficient because of transaction costs and time. Blockchains are going to democratize trust and allow us to transact without any cost.
[17:06] – Mukesh Alex’s key takeaway and call to action for Fire Nation!
- If you follow your passion, you can leave behind a legacy.
- Bootstrap Dream – Get the first chapter free!
Who's ready to rock today. Fire nation JLD here and welcome to entrepreneurs on fire brought to you by the HubSpot podcast network with great shows like the shakeup today, we'll be focusing on how you can bootstrap your dream to drop these value bombs. I brought Mukesh Alex Vaidya into EOFire studios. Mukesh is a software professional turned author of fiction and non-fiction books. His upcoming nonfiction book is called bootstrap dream. How to start a tech company from scratch that will inspire millions in Fire Nation. We'll talk today about how he software movement can make a dent in the world, how a startup can disrupt the entire industry. And also the biggest challenge that startup entrepreneurs face and so much more.
When we get back from thinking hours sponsors looking for a business coach who has helped thousands of entrepreneurs, just like you to increase our profitability by an average of 104% per year, all for less money than would cost to hire a full-time minimum wage employee. Schedule your free consultation today with clay Clark, a former small business administration entrepreneur of the year at Thrivetimeshow.com/fire Thrivetimeshow.com/fire. Your expertise is unique in your online courses should be too. So build it your way with Thinkific. Introducing the first app store for online course creators on Thinkific. Sign up for your free trial of Thinkific at Thinkific.com/firefree.
0 (1m 26s):
That's THINKIFIC.com/firefree Mukesh. Alex say what's up to fire nation and share something that you believe about becoming successful that most people disagree with. Thank you so much jelly
1 (1m 42s):
For having me in this amazing podcast foundation. As a guess, I'm a great fan of this podcast and you are one of the true inspirational stories, which I follow early justly, frankly, frankly speaking. This is a chill fanboy moment
2 (1m 57s):
For now coming
1 (1m 59s):
To one thing I believe about becoming successful is that if you are good at something, and if you are genuinely ready to share that knowledge with the world, you will become massively successful. This is an era where information is at everybody's fingertips. Yet it is misinformation and lies, which is spreading fast. We need more knowledge evangelists to spread true knowledge across the world. Even if you study history, you can find that this is true ancient civilizations flourished. When there were knowledge evangelists in the society like Mesopotamian civilization or Roman civilization, or Vedic India, all this civilization flourished when there is a culture of sharing knowledge.
1 (2m 41s):
But unfortunately when OBS cronyism started creeping into the society, all these civilizations declined. So this is a fact I think may not be everybody is agreeing with, but this will make people massively successful. So
0 (2m 58s):
Alex, we have a lot of great content to get to today, like a lot of great stuff. So give us a really quick rundown of your story. Yeah. As
1 (3m 8s):
A kid, I was in love with words and books. I had a passion for writing. Then I had this thing called formal education, which conditioned me like it does to everybody else to find a job and settle in life. I started my corporate it job in with the IBM in 2004, but when years passed, I had this feeling like the Neo in metrics, movie felt there is something wrong with the system. And I felt I am not belonging to where I should be. It was at that point, I realized that in fact, I, I am a slave to monotonous routine called corporate life. Then this COVID came, COVID-19 came and I got plenty of time to read and think suddenly I reignited my passion for writing and published two short fiction books.
1 (3m 58s):
The second book, the secret of
0 (4m 34s):
Let's talk now about that software movement that you just mentioned, how can fire nation join this massive software movement and actually make a dent in the world? What is your recommendation? There's a saying
1 (4m 49s):
Like software is eating the world. This is an interesting usage. Actually, this fast, fast used by Mark Anderson on his famous, why software is eating the world article in wall street journal. During that time he predicted that, or the next 10 years, he expected a lot of industries to be disrupted by software with the new world, beating Silicon valley companies is going to do the disruption in most of the case. This reset time when the stock market was hammering down technology stocks. Now we look back, it seems mark had a crystal ball to see the future in the last decade.
1 (5m 29s):
Almost every industry was disrupted by technology companies. Let us take examples like Uber Lyft. These, these companies actually gave a run for money for the traditional taxi and livery companies. Airbnb did the same for hotel and motel industry free online brokerage as eight into the traditional brokerage volumes. So in a similar way, traditional television is on the verge of being replaced by all the top media platforms. Now we have this COVID 19 situation, which is forcing every industry to go through digital transformation. And there is a what we have a technology hero called blockchain, which is going to do the same thing for next 20 years or so.
1 (6m 19s):
What internet did for the last 20 years. So the writing is very clear on the wall. Software will continue to eat the word in such a scenario. The best thing and entrepreneur can do is join the moment or left out the best way is bootstrapping your dream by starting a pet technology company. So I love how
0 (6m 39s):
You're talking about this movement and how it's literally taking over the world. But you know, the reality is let's talk about some specifics about how a startup can disrupt an entire industry because Mukesh Alex, we need to disrupt. We need to really make a movement. We really need to make a name for ourselves in this loud, crazy busy world. So how can a startup disrupt an entire industry? There are three kinds
1 (7m 9s):
Of innovations, sustaining innovation, efficiency, innovation, disruptive innovations. So this sustaining innovation improves the existing product and we get a better product efficiency, innovation finds new efficient ways to produce product and it frees up the capital. But the interesting disruption is disruptive notion. It is the most interesting one. It disrupts established ways. It creates new market and it creates new value networks. If you look at technology, disruption happened in the world. It is spearheaded by startups. Blockbuster might have never come up with the OTT platform. Netflix did that.
1 (7m 49s):
This startups always have. They, they always jump into this uncertain environment and untested waters and it eventually changes the way. Eh, we see the world, whether you look at social media or whatever it is, it is everything is started by startups. So anybody who is venturing out to do a startup in an uncertain environment, they, they will come up disrupting an end in their industry. They can, they can disrupt an entire industry, actually. I mean, fire
0 (8m 20s):
Nation, follow this plan, follow these tactics, disrupt an industry. Don't just blend in. Be the disruption. We have so much more value coming up. As soon as we get back from thanking our sponsors as entrepreneurs, we have unique expertise and goals. But one thing that we share in common is a desire to shape our business the way we want. And if you've ever thought about online courses, let me tell you from experience, they need to work for your business. Introducing the Thinkific app store, the first app store, for course, creators, that lets you build your, your way. If you're looking for an easy to set up platform, that's built for entrepreneurs that gives you the ability to create an online course that will look and feel like part of your brand.
0 (9m 5s):
And that gives you an experience where you can pick and choose the right apps for you and your business. As you scale, then look no further than the Thinkific app store. The course creation options are nearly limitless. Create certificates, coupons, live lessons, private courses, and more and fire nation. You're invited to try it out for free for 30 days right now, visit Thinkific.com/firefree to sign up and get started on your online course today. That's THINKIFIC.com/firefree looking for a business coach who has helped thousands of entrepreneurs, just like you to increase their profitability by an average of 104% per year, all for less money than would cost to hire a full-time at minimum wage employee, I, our nation meets clay.
0 (9m 49s):
Clark clay has been coaching businesses just like yours since 2006. Yep. Even through the great recession. And he does it for less money than would cost to hire a full-time minimum wage employee at a time when Inc magazine reports that by default 96% of businesses will fail. Within 10 years. Clay's helping businesses like yours to grow on average by 104% annually. How's this even possible Clayton only takes on 160 clients. So he personally designed your business plan. Plus Kelly's team helps you execute that plan with access to graphic designers, Google certified search engine, optimizers, web developers, online ad managers, videographers workflow, mappers and accounting coaches visit thrivetimeshow.com/fire, to see thousands of video testimonials from real people, just like you, who clay has helped over the years.
0 (10m 30s):
That's right. Do your research and view thousands, not hundreds of proven documented in archives, video testimonials from real people, just like you at thrivetimeshow.com/fire, thrivetimeshow.com/fire. Then schedule your free consultation with clay himself to see how he and his team can help you thrive location. Alex, we are back. And I want to now talk about the biggest challenge that you see startup entrepreneurs facing. I mean, I love the fact that you're coaching startup entrepreneurs and you're helping people in this amazing software movements. But what is the biggest challenge that you're seeing these entrepreneurs face? Yep. Ray
1 (11m 8s):
And a partner want to become a success story. But if you look at some statistics, you can see that 90% of the startups fields, but we have stories like Airbnb and Netflix, which are massively successful. So the question is, is it possible for a startup to replicate similar success? Is it possible for a non-technical person to start a tech technology company? So what my research and experience shows is that it is possible. So one of the main reason for people who fail is because they don't have a proper mentor. So are there the, there, there are three facts. One is money. The other one is mentor.
1 (11m 49s):
And the other factor is time. So the, it is very difficult to find a good mentor. So this is where the bootstrap dream book come, comes into picture bootstrap dream is my mission to help millions of startups to become successful. In next five years through my book, actually it is in mathematics. You know, that four formula solves a problem in a similar way. All these successful startups there is actually following a formula. So my book is talking about that. So I think foundation listeners will greatly benefit from reading my book
0 (12m 31s):
Foreign nation. We're going back to the biggest challenge of startup entrepreneurs, face money, mentors, time, money, mentors, time. These are three things that we struggle with as entrepreneurs I can tell you firsthand experience. I struggled with all three of these things. I struggled with money. I struggled with mentors or lack thereof. And of course I struggled with time. I mean, I'm a human being after all. So you didn't mention the bootstrap dream and how you really help entrepreneurs with this. Give us some more details about the bootstrap dream that you haven't yet shared. Bootstrap
1 (13m 7s):
Dream actually talks about from ideation moment to exit from the startup. Even I'm talking about that. So it is talking about how to evaluate an idea, how to validate an idea, then how to build a minimum viable product, to how to, how to follow or startup strategies, how to, how to build that ideal team, how to found a co-founder. Then there is a, there's a thing called culture. So every startup for startups, it is very important that you should have a great culture. So I'm talking about the how to build a great culture, how to build a great team.
1 (13m 51s):
So, so it is a kind of a comprehensive a gate for anybody who is going to read that book, they will greatly benefit out of it.
0 (13m 60s):
So let's talk about Steve jobs about Jeff Bezos about Elan Musk. Why should fire nation imagine their name next to those people? Yeah.
1 (14m 11s):
These are all people who had the passion to start. These are people who have vineyard into an uncertain environment and they followed their passion, the relentlessly, irrespective of all the failures they have faced. So if you look at Steve jobs, he has, he has democratized the computing. Actually he has Democrat cried, democratize the computing, yellow computing, vast monopolized by technology behemoths like IBM DZ and HP, but Steve jobs and apple did, did something, which is very unimaginable during that time.
1 (14m 57s):
Now you now for a few hundred dollars, people can have a, a machine, which is a million times powerful than 1969 Apollo mission. So the same thing, same thing can be done with the latest technologies like blockchain. For example, let, let me say, what is actually blockchain can do look at banking industry. What is this banks actually do? Bang. Bang is suppose that there are two individuals who, who want to do transactions.
1 (15m 37s):
They don't trust each other, whether it's a business or whether it's an individual, they don't trust each other. So they call this third party called bank. So this banking is actually very inefficient and there is a transaction cost. There is a time, but with the, with the use, if you use blockchain, you can trust one, one person can trust another person and they can transfer money between them. They can create smart contracts, which will execute itself. So, so this, this way make this, this is going to create a trust actually. So actually what in internet is that it has democratized information.
1 (16m 24s):
Blockchain is going to democratize trust. So what it clicked, what it means is that myself Mukesha like sitting in Cadillac can do a business with the John Lee Dumas sitting in Puerto Rico or by the, through a mobile phone. So we can, we can trust each other through this technology. This technology will enable us to trust each other. We can transact money with the zero cost. We can have a smart contract, which will execute itself. So this is, this kind of change is going to happen into the world.
1 (17m 5s):
So the, there is an enormous potential for entrepreneurs to venture into this and become the next Elon Musk or Jeff Bezos or Steve jobs,
0 (17m 16s):
Fire nation. These are incredibly exciting times. I mean, listen to what Keisha Alex is talking about. I mean, this is the future and the future is now. So Mukesh, Alex, give us the one big takeaway that you want to make sure fire nation gets from everything that we talked about here today. Share with us how we can connect more with you. And of course, pick up your book, bootstrap dream. And then we'll say goodbye
1 (17m 44s):
For fire nation listeners. If you can visit Mukeshalex.com/fire, you can download the first chapter of my book free, and you can read that book. You can read that chapter and understand what is there in store for you. So my, my idea is is that if you follow your passion, you can leave behind a legacy. So that is the biggest takeaway from this honor session. I think
0 (18m 15s):
Coronation legacy, it's all about the legacy. And as Mukesh was talking about earlier, the right mentors, I mean, you are Fire Nation, the average of the five people you been spending the most time with. You've been hanging out with MAV and JLD today. So please keep up that heat and head over to EOFire.com. And you can just type Mukesh, Alex that's MUKESH space, ALEX, and the search bar in his show notes page will pop up with everything we talked about here today. Check out bootstrap dream. You get the first chapter for free at the URL that Mukesh shared, that we'll also have on the show notes page and Mukesh.
0 (18m 57s):
Alex, thank you for sharing your truth, your knowledge, your value with fire nation today, for that we salute you and we'll catch you on the flip side.
1 (19m 6s):
Thanks so much daily it's I I'm really humbled to appear in this show and it's a great honor for me.
0 (19m 16s):
Hey, Fire Nation today's value bound content was brought to you by Mukesh Alex and fire nation. Are you ready to rock your very own podcast? Well then check out my free podcasting course, right? Teach you how to create and launch your podcast for free visit freepodcastcourse.com. And I will catch you there, or I'll catch you on the flip side, looking for a business coach who has helped thousands of entrepreneurs, just like you to increase their profitability by an average of 104% per year, all for less money than it would cost to hire a full-time minimum wage employee. Schedule your free consultation today with clay Clark, a former small business administration entrepreneur of the year at Thrivetimeshow.com/fire Thrivetimeshow.com/fire.
0 (20m 3s):
Your expertise is unique in your online courses should be too. So build it your way with Thinkific. Introducing the first app store for online course creators on Thinkific. Sign up for your free trial of Thinkific at thinkific.com/firefree that's THINKIFIC.com/firefree.
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