Timothy Ferriss and David Heinemeier Hansson

37 Signals partner David Heinemeier Hansson shared his insights at the Startup School explaining The secret to making money online. This was a great video presentation anyone who already owns, or wants to own, a business should watch.

If you’ve read Timothy Ferriss’ book The Four Hour Work Week then you will be familiar with his ideas of:

  • The New Rich
  • Niche Marketing
  • Product Creation for Demand
  • Automation

How does Hansson sound like Ferriss? Watch the video and you’ll see.

  • “I think $1 million is still a lot of money” – the New Rich don’t need millions to live the life they want
  • Fortune 5,000,000 – niche marketing will get you enough customers to live
  • The Italian Restaurant Theory – you don’t have to be the best, you just have to be good enough to make a living
  • It isn’t “rocket surgery” – don’t work for works sake. It does not take genius to run a business, just motivation.

The longer Hansson spoke the more he reminded me of Ferriss’ book. Both are saying nearly the same thing but they are both very different individuals. The 37 Signals blog is a great read, and Ferriss’ book is the only I’ve read more than twice.

Two Prophets, One Message

  • You don’t need millions of dollars in the bank to live like a millionaire. The most powerful currency you possess is your time. Start a side business, or leave your 9-5 grind for good. Whatever you do: Don’t stay in a place that lacks fulfillment and purpose. Don’t kill yourself with crazy hours while life passes you by. Don’t think you cannot enjoy life because of bills. Don’t talk yourself out of working for yourself.
  • There are more than Six Billion ( 6,000,000,000 ) people on this planet. They all need to purchase stuff and services. Find a small group of them and satisfy their needs. Don’t create something and then hope they will come, you’re no Kevin Costner. Lucky for you, you don’t have to be! Anyone can start a business. I just shared the story for a 20 year old who started a sewing business in high school.
  • Stop working for work’s sake. Take control of your time and become rich. Automate your life after Eliminating as much as possible. Enjoy the richest currency of time.