It was wonderful listening to Eric talk about his entrepreneur lifestyle and everything along the path to where he is now. I particularly appreciated the fact that he shared some personal information like his expenses and income distribution between various companies, so we can get a good idea of different type of income each business generate.
He started off by writing a chapter for his book and posting it online to see how other people react to it and if he would have an audience if he were to finish that book. I thought that was a great idea because that way he tested the market, to check if there's scope for what he wants to do, without spending too much time writing the whole book only to find out that nobody wants to buy it. Based on his income distribution between the companies book revenues were particularly interesting because that is the work that is already done and he doesn't have to do anything more with it. He also wrote those books in his spare times, a few hours here and there, maybe some on the weekend. To me that is the definition of entrepreneur lifestyle because he created value even out of his spare time that most people would spend watching TV or browsing the internet, and now those hours yield him some extra income flow without putting in anymore work.
Another thing that I found really interesting from Eric's talk was how he claimed that most entrepreneurs run towards where outcome is uncertain. I can see why this is true because uncertainty could mean a bad thing, but if successful it could also result in much larger benefits. Taking risks is part of life and you cannot expect good rewards without risking something, to me that is one of the core aspects of entrepreneurship - be willing to take risks.
He started off by writing a chapter for his book and posting it online to see how other people react to it and if he would have an audience if he were to finish that book. I thought that was a great idea because that way he tested the market, to check if there's scope for what he wants to do, without spending too much time writing the whole book only to find out that nobody wants to buy it. Based on his income distribution between the companies book revenues were particularly interesting because that is the work that is already done and he doesn't have to do anything more with it. He also wrote those books in his spare times, a few hours here and there, maybe some on the weekend. To me that is the definition of entrepreneur lifestyle because he created value even out of his spare time that most people would spend watching TV or browsing the internet, and now those hours yield him some extra income flow without putting in anymore work.
Another thing that I found really interesting from Eric's talk was how he claimed that most entrepreneurs run towards where outcome is uncertain. I can see why this is true because uncertainty could mean a bad thing, but if successful it could also result in much larger benefits. Taking risks is part of life and you cannot expect good rewards without risking something, to me that is one of the core aspects of entrepreneurship - be willing to take risks.
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