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by
Nathan Latka
Started reading
June 10, 2019
So I decided I’d get rich off selling data to them by launching GetLatka.com.
Some companies were already doing this, so I set out to learn + copy + do it better.
Other companies competing in the VC firm data space included PitchBook, HG Data, Mattermark (dead), CB Insights, Crunchbase, Zirra, and Owler.
On the podcast, I’d ask them how much money they were making and other business metrics so I could reverse engineer their business and then fight like hell to beat them.
GetLatka.com needed to stand out if I was going to aim for a higher price point.
So while my friends dream of joining a VC firm to strike gold, I’m selling the firms the tools they need to be able to look for gold at all.
It’s a glorious cycle of profits and investing.
Last-mile delivery from warehouse to consumer’s home is one of them.
the wealthiest people during the gold rush were not the gold miners. They were the people who sold pickaxes to the gold miners.
consumers are obsessed with drones, ride sharing, and on-demand food delivery;
Salesforce AppExchange or HubSpot—big software companies that service salespeople—and look at what’s trending in those communities.
you might launch a consulting service focused on helping salespeople understand survey results.
GetFeedback in the Salesforce app, see who’s left a review, and reach out to those people as the first potential customers for your new consulting service.
See what courses are hot on e-learning platforms like Udemy. You can launch similar courses with a twist
The upward numbers are a strong signal that sound/audio is a thriving market.
Chapo Trap House is making more than $100K per month. Go to their creator page and study why their patrons are donating to them. Listen to their content and figure out why it’s so popular. This will help give you ideas about things you might build to help them serve their audiences. If you want to do something in the tech space, watch which ProductHunt.com products get the most up votes.
What are these business models dependent on?
If you’re in media, look at trends on Facebook, BuzzFeed, Google, and other big media companies.
If podcasting appeals to you, it really is a great gateway to meeting top thinkers. Don’t worry about starting from scratch.
Once you get them live they actually help create a self-fulfilling prophecy for building your audience since they’re big names themselves.
Toptal is pretty close. You can know nothing about a particular business area, but post your project on Toptal and they will recommend experts for you to work with.
My advice in this book boils down to helping you do one core thing: set yourself up to have an unfair advantage against others.
The key tactics that the New Rich leverage do involve universal business skills, but they use them in very specific ways to get what they want. It starts with masterful persuasion.
The trick is to use your persuasion muscle for things that directly correlate to freeing up your time. Think about it: freedom is what most of us want. We want control over our own lives. The quickest and easiest way to get that freedom is by persuading others to do things that free up your time.
There you’ll need the art of negotiation.
I’ve found seven fear principles that are most directly tied to driving sales and cash flow.
if you understand which fear you’re catering to, you can make sure your messaging reflects that. So if you were selling into Fear of the Unknown, you’d use words and phrases like “hidden,” “clever,” “never before seen” versus selling into Fear of Missing Out with words like “too late,” “few left,” “regret it later,” etc.
Look at everything from insurance to Band-Aids. Let’s
A circle has no corners. It’s not defined. It can roll anywhere. You want to be that. You want to be unpredictable. It gives you incredible leverage because you can become the center of your competitors’ interest. They’ll want to know where you’re going, what you’re doing. They’ll worry if you’re going to compete
Time to dream up your golden goose, obsess over the systems that will keep it going, execute, and then create another one. Every golden goose you set in motion will open up more options for you.
Dream in Decades → Think in Years → Work in Weeks → Live in Days
Think long, and think concretely: picture where you want to be in ten years, what your business, life, and home will look like.
take your big, audacious goals and break them down into systems? That’s thinking in years.
the sharing economy. Because of it, we have the power to turn nearly everything we own or rent into a cash machine.
If we really work the system, we can use the sharing economy to wipe out our expenses completely.
Don’t underestimate what can be turned into an asset and don’t skip this step.
It plays a huge role in growing your endeavors as quickly as possible.
The very items that you owe money on are paying for themselves—and in some cases, bringing in extra cash on top of that.
I’ll also clue you in to lesser-known marketplaces for making passive income off everything from your car and office space to your online content. Believe me, you have way more hidden money than you think.
I’ve kept the focus on things that I do, and that I know work, with minimal effort.
So why not rent it out during the hours you’re not using it? Turo.com is one of the best tools for doing this. HyreCar.com and GetAround.com are also reliable platforms for car sharing. You post a rental listing and people in your area pay an hourly or daily fee to use your car. The rental outlets usually cover insurance. If you’re willing to share your vehicle you can generate a few hundred bucks per month from what is otherwise seen as a liability.
you want to be wealthy, you must act wealthy.
This is where you must embrace “fake it until you make it.”
Winners don’t have new ideas. Rather, they copy the heck out of their competitors, then add their own flavor or unique angle to win.
And even if you do have a brilliant new idea, you’ll make a profit much quicker by building on something that already exists.
your first step is to find an idea to copy. And ideas are lurking everywhere—you just need to know where to look.
