Clicky

Tips and Hacks from Super-Successful founders

FAQ

New here?. welcome my dear friend.

Rather than going through a loo-oong story, I thought of  writing short FAQ’s about me and this blog.

 

1.How do you come up with ideas ?

I just sit down with a super-sized bag of organic potato chips, grab a beer and relax.
Actually, I was shocked to hear that  95 out of 100 people hate to use  their brain to think. I was one of those 95 people. You and me  have been programmed by school and society that thinking is bad.  Once I realized this, I deliberately decided  to use my brain and think and see if it will work. Seems to be working!.

Five percent of the people think;
Ten percent of the people think they think;
and the other eighty-five percent would rather die than think.
Thomas Edison

 

2. Do you give out ideas only for internet business. Why not brick-and-mortar business ideas?

My wish is that everyone should work in their pajamas!!. You can’t do this if you have a physical store.So, the best way to earn money and yet work with your colorful pajamas is to start an internet business.

Actually the real reason is. if you want to start a franchise or your own business, you need lots of capital(100k+), permits, employees and will take you 3-6 months with lots of hassles.

You may still make 6 figures per year with lots of capital investment and lots of hassles.

but with the internet business, if you decide, you can start an online business right now with less than $100 and also earn 6 figures per year. You don’t need employees , you can use online tools and most of them are free and non-expensive.

So, I deliberately restricted and requested my brain to come up only with online business ideas  to help you… my favorite readers.

 

3. Will these ideas work?

Yes, I have access to a “future-Knowing” Genie. She told me all these ideas will work.

Many people think great entrepreneurs take risks. Great entrepreneurs mitigate risks
– James Altucher – Sucessful Entrepreneur and investor in many businesses.

Actually, No-one can really predict 100% if an idea will work or not, but I have studied successful entrepreneurs. Contrary to popular advise, these successful entrepreneurs reduce their risk a lot, before starting a business. An easy way to reduce risk is do extra-ordinary market research. Market research costs lots of money. You an me , we don’t have much money.

Here are two way to figure out if  ideas will work and reduce your risk when you start a business.

I) Start an Evolutionary and not revolutionary Business: The easiest way is to take an existing  idea but narrow it down to a particular niche.

This way you know that people will like your product.

Before the internet, your market ( the people you sell to) was limited by geography , but now billions of people from around the world are your market,

The internet removed physical boundaries. Hoorey!

e.g.
1. Basecamp – Variation of existing project management software. – This is a Simple project management tool – No need of any training or manual, you can simply start using it.
2. Facebook – Variation of  Myspace , orkut and friendster – This started only for college students first.
3. iPhone – Variation of Blackberry and some clunky “smart phones” – This was revamped for touch screen
4. Southwest Airways – Other airlines existed – None with cheap fares and a fun attitude.

 In  Mark Ford’s words , these are evolutionary business and not revolutionary business.

Mark Ford is a successful entrepreneur who started and advised 100+ successful business in his career spanning 30+years.

II)  Your own problems:  Check out Paul Graham’s essay ( he is a founder of YCombinator) on how to get startup ideas.( This article was one my inspiration when I started this blog)

The way to get startup ideas is not to try to think of startup ideas.
It’s to look for problems, preferably problems you have yourself
– Paul Graham – Founder – YCombinator

A lot of initial ideas came from problems I faced personally or by observing friends talking about problems. It is weird but I was amazed to think that I have 100+ problems myself.

 

4. Do I need boat-loads of money to start any of these business ?

Hey, I thought you won the lottery and had a million dollars to invest.

Actually, Most of these can be boot-strapped and does not need lots of money.
Most of them can be started for less than $100. some of them may need a little bit more  from $1000 to $10,000
You can follow the lean-startup method, so you can fail fast and discover which idea works without wasting lots of money.

 

5. I can’t get ideas..Can you help me?

of course. of course. My hourly fees is very affordable for anyone — 1 million dollars.
but, since you are my friend, let me reduce my fee and teach you for free on how to get ideas.
Like anything in life. the more we use it, the better it gets.

I don’t count my sit-ups.
I only start counting when it starts hurting.
That is when I start counting, because then it really counts.
– The great Muhammad Ali

Olympic runners practice harder , so they get better

Body builders keep going when they feel the extreme pain, because that is the point at which the body knows it needs to build more muscles.

So, your idea muscles also get better and better the more you use it,  if you haven’t used it for a while and your brain is getting  rusty..don’t fear.. Fortunately,, you can start this minute and rebuild it.

That is the beauty of the human body and human mind. It can rebuild itself anytime.

Here is one of the best article  by the successful entrepreneur James Altucher  about becoming an idea machine starting immediately.

 

6. Who are you?

My name is Bill Gates and I am the richest person in the world. On weekends, I hang out with my best friend Warren Buffett playing bridge.

Wait a minute, I must have been drunk and that must have been my dream.

My name is Vijay Peduru and I live in the hilly San Ramon area close to Silicon valley.

I visit Sand hill Road in Palo Alto quite often. In case you are wondering, Sand Hill Road is where most of the Venture Capital offices are located in Silicon valley.

The funding for Facebook , twitter, Google came from here.
For some reason, when I visit that place , my brain seems to get a little energetic and I get lots of business ideas.

In case you are wondering, I visit Sand Hill road for my yoga classes ( This part is serious).

I love reading about entrepreneurs, love reading about startups and future trends.

My basic passion is studying Human Nature.  I love to figure out how Nature designed humans.

That is what led me to learn and practice ancient classical yoga. These ancient saints figured out a looong-loong ago about the human body and human mind.

Once I figured this out, I was surprised to find out that every successful person in every field became successful when they understood human nature.

I read and listened to a  lot of movie directors like George Lucas(StarWars) and  James Cameron (Avatar) and Advertising Geniuses like  David Ogilvy and business icons like Steve jobs and John Rockefeller . All of them understood human Nature.

 

7. What makes you qualified to give ideas?

I drink more vodka than anybody else. Society has bombarded me with so much bull Shit, I am not sure what is true or what is false anymore. I have become insane, To bring me back to my senses, I drink a lot. that is when I get ideas!.

Actually, when I had a dream of becoming a successful entrepreneur, I knew my first skill , I had to learn was to come up good ideas.

I read lots of self-development books and listened to lots of business audio programs.  After a year or so, suddenly something clicked in my mind and I slowly started to get ideas. initially I got very bad ideas, but I kept improving slowly.

Next I got interested in creativity and how creative people work.

As I mentioned , I love to read about  entrepreneurs, love reading about startups and future trends.

There are a lots of definitions for business. Some say business exists only to make money. Some say money is not important but you should follow your passion.

I am not sure if you follow these “point-of-views”, if you will make money or not.

To me business means bringing well-being to human beings.

As long as I provide value.. enhancing my fellow human being’s life.. wealth and happiness will come as a side benefit.
I have 3 bootstrapped business – Two are based on my passions – Entrepreneurship(ideasU.com)  and Health-wellness(GoodLifeDoctor.com – still in progress). The third one I will let you know later.

 

8. Can I send my idea and can you publish it in ideasU.

if  you send Arnold Schwarzenegger’s photo with it , we will definitely publish it. We are scared of the Terminator. Hasta la vista, baby!.

Actually, Sure, send us the idea and if our judges, judge it as a good idea, we will publish your idea along with your name.

Don’t be scared, The judges are just me and my whacky brain . I toss the idea like a tennis game in my head and wake up the next morning and decide the best ones.

 

9. What is the process to follow to build a life-fulfilling and money-generating blog

Here are three great articles

1. Master blogger Jon Morrow – Make Money Blogging: 20 Lessons Going from 0 to $100,000 per Month
2. Top Marketing expert Neil Patel –  How to Generate $100,000 a Month from a Brand New Blog
3. Pat Flynn – His income reports showing how he earns 100k+ per month

 

10. Who do you look up for inspir-aaaa-tion?

Steve Jobs – A monk who started a business( actually multiple businesses)
Seth Godin – Inspired me that being weird is fine, and keeps inspiring me to be a boot-strapper

 

11. People say ideas are nothing but execution matters, what say you?

Right. I used to believe that too. but to execute a business idea, you would first need to come up with a good business idea!

I agree that..to start a business, you don’t need to have an education, but you definitely need a good  idea.

Once you have a great idea and you researched and reduced your risk , you will be motivated to execute it.  You will love to execute it.

When Coke succeeded, it didn’t take much for  Pepsi   to succeed.  Pepsi knew that there is a market for it and if it can market well, it can succeed, So that is why it focused on the “young generation” market segment and it succeeded.

If you keep thinking or scared your idea will fail, you will NOT be motivated to pursue it. This is the main reason, everyone believes that execution is tough.

if you ask any successful movie director, they are first good story-tellers. They come up with stories all the time. some are good, some are crap, yet they keep coming up with stories. When someone tells them a story, they change it , make additions to it and make it good.  Once they have a good story, then they start to direct the movie.

You guessed right!. My dream is one day to direct a movie, so, I study successful directors. I created about 3 videos for ideasU, but I felt it was not worth my time, so I have put that on hold.

Hey ,We took a diversion. Let us get back!.

So, I believe that coming  up with great ideas involving less risk is an art and is as important as executing.

 

12. Can I choose to make you my friend?

Absolutely, I will make sure if you visit my place. you will have an absolute blast. I am a master tequila mixer and a good entertainer.
Actually, It would be my honor, if you choose to make me your friend.

 

13. Any advise for a happy life?

Yes, make sure you learn boxing, Anytime you get angry at someone, beat them up left and right. Except when your spouse hits you, you are also prepared to take the beating.

Be of service first
Build, work , dream, create
Do this and there is no limit to the abundance and prosperity that will come to you
– Earl Nightingale – Founder of Nightingale.com  – Inspired millions of people

Seriously, This(Earl’s words)  is what I believe and this is what brings me happiness. Hope this brings you happiness too.

XOXO
-Vijay