Alec Lynch is the founder and CEO of DesignCrowd.com – a website that helps small businesses and entrepreneurs ‘crowdsource’ graphic, logo and web designs from designers around the world. He launched DesignCrowd in 2007 from his family home, and today DesignCrowd has over 500,000 designers and ~$20 million in revenues.

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Resources Mentioned:

• Your Big Idea: Successful Entrepreneurs have One Big Idea. Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
• Audible – Get a FREE Audiobook & 30 day trial if you’re not currently a member!
• Calm.com and Muse – Tools to help you practice daily meditation
• The Art of Happiness – Alec’s favorite book on happiness in life
• The How of Happiness – John’s favorite book on how to obtain happiness
• SkillsOnFire.com – Allow JLD to set your skills on FIRE!
• DesignCrowd.com/fire – $100 off on DesignCrowd

3 Key Points:

1. Make a business that solves a problem in a particular industry.
2. Try to put all your money toward your business and cut out other expenses.
3. Make changes to achieve your true ambition and have an impact.

Sponsors

• eVoice: See how eVoice can help you connect with your prospects, partners, and customers quickly and easily! eVoice is offering Fire Nation an extended, 60 day free trial – just visit eVoice.com and use promo code FIRE!

• ZipRecruiter: Looking for quality candidates to help you grow your business? Find out today why ZipRecruiter has been used by over 1 million businesses (including EOFire)!

Time Stamped Show Notes

(Click the time stamp to jump directly to that point in the episode.)

• [00:38] – Founder and CEO of DesignCrowd.com
  • [00:52] – Over 500,000 designers and $20 million in revenue.
• [01:05] – Alec’s background
  • [01:15] – He started building websites when he was a teenager.
  • [01:37] – After high school, he studied programming and business.
  • [02:16] – He wanted to find an opportunity to impact those around him.
  • [02:50] – He wanted to do something himself – not work for someone else.
  • [02:59] – He started his first business with his DesignCrowd co-founder, but it failed.
  • [03:47] – He went into consulting and then had the idea for DesignCrowd.
• [03:59] – He launched the business with $10,000 and a laptop.
• [04:31] – He moved back in with his mother to start his business.
  • [05:08] –Spend every dollar on your business.
• [05:24] – How do you generate revenue with DesignCrowd?
  • [05:26] – It’s a marketplace for designers and entrepreneurs.
  • [05:57] – Designers compete to create designs for one design request.
• [07:00] – Worst Entrepreneurial Moment: The first two years
  • [07:23] – He spent his savings and maxed out three credit cards.
  • [07:45] – It was a challenging period.
  • [08:04] – One particular moment was when he broke a bone playing soccer. His financial situation hit hard at that moment.
• [08:36] – Was your mom supportive? – Very.
  • [08:51] — He wanted to quit his business, but his friends helped him persevere.
• [09:38] – One comment can change your life path.
• [10:06] – Surround yourself with supportive people.
  • [10:26] – John’s experience receiving an email with feedback from his dad.
• [11:00] – Protect yourself and build up support.
• [11:15] – Entrepreneurial AH-HA Moment: The birth of DesignCrowd
  • [11:41] – In 2007, he saw the logo for the London Olympics.
  • [12:15] – Everyone hated the logo when it first came out. It was an expensive, long process.
  • [12:54] – He saw the problems in the design industry: Buying design is risky and expensive, and designers struggle to break into the industry; talented designers need opportunities.
  • [13:38] – DesignCrowd solves these design problems.
• [15:02] –Biggest weakness? – Focusing too much on the detail.
  • [15:22] – It’s better to pass off those tasks to other people.
• [15:28] – Biggest strength? – Coming up with ideas
• [15:51] – What has Alec most fired up today? – Podcasts
  • [16:16] – Getting to know and trust someone through a podcast.
  • [16:49] – Build trust and dive into your business.
• [19:21] – The Lightning Round
  • What was holding you back from becoming an entrepreneur? – Experience and funding. The right idea.
  • What’s the best piece of advice you’ve ever received? – Happiness comes from what you do and think, not what you have.
  • What’s a personal habit that contributes to your success? – Meditation
  • Share an internet resource, like Evernote, with Fire Nation – Calm.com, John uses Muse
  • If you could recommend one book to our listeners, what would it be and why? – The Art of Happiness, John recommends The How of Happiness.
  • Imagine you woke up in a brand new world, and all you have is a laptop and $500. What would you do in the next 7 days? – I would try to write a book and I would get on Facebook to make some friends.
  • Parting piece of advice – If you’re listening to this show and you’ve got an idea for a business, you should start today.

• [23:27] – DesignCrowd.com/fire for a $100 discount on DesignCrowd
• [23:49] – Connect with Alec on LinkedIn or DesignCrowd.com/contact

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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