How good is Video Editing in terms of Free Time, Pay, Demand?
A $80M friend once told me: "The one big problem in business is the lack of resource (talent)".
Look at the Top 1% of Video Editors (who also make money). Learn how to work from them. Once you have proof you can do better work than them (i.e. a Portfolio), start charging what it's worth.
This applies to any specialized Digital Skill. I've grown over +10k€/month and Effective Hourly Rates of 200-500€ with Web Development in a very short period of time.
As long as there are people making tons of money, you can too.
It just depends how high you set the bar for yourself.
I (25 y/o) would like to start my own Business. No Degree, No Experience, Good with Computers, Got 20k€ to invest. Can I take a good course and build business this way?
Needed some time to create a good answer. Therefore you will get 2:
Fundamentally, business is built on skills. To make money, you need skills. Wherever you are in your business journey - you use what you got.
To Beginners, I recommend Two “Seasons”:
1. Start helping for free. If you’re good with computers - start helping people around computers. Do it for free without expecting anything in return. Over time, build more skills so you can provide more help to more people. The fastest way to learn new skills is to follow the instructions of those who have mastered them (i.e. THE best. Hint: Most of the time, it’s Americans). You can use the 20k€ to a) give yourself a cash runway b) pay for faster learning through courses, mentorship, workshops, etc. You wanna become so good, people force you to accept money.
2. After you earned your first dollar - figure out how much money you want to make per month. Then, 10x that Number in your mind. Learn how to help on a 10x level for free. Charge what it’s worth once you are ready. Result: You will have raised your earning capacity to at least 3-5x of your initial money goal / month. It will account for your initial too-low expectation around taxes, living costs and the effort required. Plus you can live off working Part-Time (if you want).
How long does it take? As long as you let it. I’ve seen people do it in 90 days.
You Learn - You Return - You Earn. (Twice) - Congrats, you now make a living from your business. Use this “Micro-Scaling Cycle” as often and aggressively as you like. And whenever you get stuck: Follow The Golden Rule.
Also, if this advice sounds boring coming from me - here is beginner advice from a $500M Entrepreneur:
(Reference: https://www.linkedin.com/posts/alexhormozi_13-laws-for-beginning-entrepreneurs-activity-7250180801655398400-xPPt/)
Walk us through the build of this website 🙂
Goal: Help People in Business
Offer: Ask a business question for free. I will share the answers in public (= also content for LeadGen).
MVP: One Page for asking questions (UX reference: ChatGPT. max. 180 characters to keep question quality high). One Page for reading answers (UX reference: Twitter but without distractions).
Design: Sketch on Paper
Tech: Build in Webflow using Relume Library. Question submitted via Form. Answers published via CMS.
Idea to Launch: One Day (~4 work hours)
Conclusion: Never thought I’d see myself get into Indiehacking. I enjoy it!
How do you delegate work and ensure a good result?
How I think of delegating Coding Tasks:
1. You have to fundamentally understand how code works
2. Find people who have proof of good work and are not desperate for money
3. Test with low risk. Slowly move up. “Slow to hire, quick to fire”
4. Accountability. Formula: Expectations + Measurement x Reinforcements. Set the expectation upfront. Put a tool in place to measure if the expectation is being met. Your job as a manager then is reinforcement.
5. Practice. Delegation is a Skillset you can learn.
How do I find work-life balance as a freelancer? Especially when dealing with the scarcity idea where finances might stop if I take a break?
Simple Answer: More Focus. I’ve had a similar phase as you, where the book “Deep Work” by Cal Newport helped me reset my bar on removing distractions. Rich Webster also has great teachings on this.
How can I land a $50k project as a solo freelancer? Where do I find this potential client and how do I approach them?
First, you must have proof that you can lead a +$50k project. (If you don’t have proof - build it. And If you don’t know how to build it - learn how to from those who do better work than you.)
Second, you have to make yourself known to the right people. (see: “$100M Leads”)
This is hard and takes time. Welcome to The Game of Business.
How long did it take you to become a good webflow developer?
First time I tried Webflow was in January 2021. I accepted my first 5-figure project in September 2022. However the focused learning effort in between only lasted a few months. Note that I’ve spent most of my early childhood with math, logical problems, tech, and video games - that helped quite a bit.
How did you get clients from the UAE, and how is it working with them?
My first UAE client and I found each other through a Forum. It turned out to be a web project for a $150bn company. Quite a solid jump, considering my best paid project up to that point was a couple grand. I am forever grateful for the opportunity. We work together till this day.
When it comes to Client Relationships - I believe the following quote has served me well in business:
"Everything good you experience is your merit. Everything bad you experience is your fault."
The only one you have control over to fix is you.
What is the best way to find web design / dev clients? I have been working for agencies but not been able to find a single client of my own.
Step 1: Define your Financial Goal. For most people at your stage, this means: How much money do you want to make per Month?
Step 2: Look at people who have exceeded that financial goal within your industry. How is their work better than yours? What do you need to do in order to become better than them?
Step 3: Assume they were lucky, and you are not. Raise your bar and put in 10x more effort. Expect no money until your work beats theirs by a wide margin. Then, put your work out for the right people to see.
Jump The Bar, Win The Medal.
Hey Davor! Tell me about your business journey.
I (*29.01.2000, Germany) started my entrepreneurial journey building an educational content website for my siblings during Covid. They loved it. My father told my godfather’s brother (a successful entrepreneur), who then gave me an internship. Shortly after, I start receiving paid gigs for freelancing, parallel to studying at university (Oct 2020). It took 2 years, four lockdowns, multiple breakdowns, many failures and maybe all the lessons until my business finally made me good money.
By 2022 I’ve grown my Freelancing Career beyond 10k/month. Since then, I’ve been responsible for leading Web Development Operations of +$100B companies. My best mentors advised me to move to Dubai & scale to 7-figures and beyond. I decided to stay small, free up time and visit my family origins in Croatia, as well as my friends and mentors across Europe. Fast forward to today, I've reached a point where I don’t need to worry about money anymore. And I’m back living in the place I was born. “Home sweet home is where your good people are.”
This is a fun side project. It’s free. I don’t plan to charge money for business consulting. Two reasons. Number 1: I earn money from my agency (derokki.dev). Number 2: I believe if your work is that good, you won’t ever have to ask for money. Atleast, that is the hypothesis I wanna put to test.
For everyone reading this, I simply hope the answers my 19-year old self would have wished for, will help you in business.
Best,
Davor