Ankur Nagpal is the founder of Teachable — a tool used by 5,000+ entrepreneurs to build and sell beautiful courses to their audience.

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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!
• Teachable – Create compelling education courses for your audience
• eShares – Ankur’s small business resource
• High Output Management – Ankur’s top business book
• Freedom Journal – Organize your life and make each day count

3 Key Points:

1. You’re a person, not a business. Be prepared for partnerships and business relationships to be emotionally challenging. Talk openly and accept that some things are difficult.
2. A good decision now is better than a great decision later. Don’t worry about being perfect – get things done and move on.
3. Make time for journaling and reflection. You’ll become more proactive, instead of reactive.

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 Time Stamped Show Notes

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

• [01:40] – Teachable mostly generates revenue via monthly subscriptions
• [02:05] – Made around $200k in net revenue last month
• [02:50] – 17 full-time employees, growing by 1-2 people per month
• [03:05] – Ankur’s currently making $105k
• [03:42] – Ankur holds slightly over 50% of Teachable
• [04:15] – Running a new fundraising round: pre-money valuation of $27 million
• [05:20] – Founder of Snapchat loved what he was doing so much that he turned down $3 billion
• [6:00] – Worst Entrepreneurial Moment: Breaking up with his co-founder
• [08:10] – Co-founder took 7% of the company – is now in an investor role
• [09:18] – Entrepreneurial AH-HA Moment: Selling his first application
• [11:25] – Greatest weakness? – “Being completely disorganised”
• [11:55] – Delegation is the only thing that’s helping so far
• [12:43] – Starting the day with 10 minutes of journaling can be a great way to focus
• [13:20] – The Freedom Journal
• [14:20] – Greatest strength? – “Being instinctive and decisive…not second-guessing myself.”
• [15:55] – Speed of implementation is what counts
• [16:10] – “A good decision now is better than a great decision later”
• [16:31] – What has Ankur most fired up today? “Seeing the team I’m working with…Everything is so much easier with amazing people around me”
• [17:20] – Initially launched Teachable as ‘Fedora’ – bought teachable.com for $25,000
• [21:14] – The Lightning Round
  • What was holding you back from becoming an entrepreneur? – “I’ve always been an entrepreneur. Never had a job in my life.”
  • What’s the best piece of advice you’ve ever received? – “You can either start a local coffee shop or you can start Starbucks. You’ll work the same amount of time. Start Starbucks”
  • A personal habit that contributes to your success? – “I have a very short memory for failure.”
  • Share an internet resource, like Evernote, with Fire Nation – eShares
  • If you could recommend one book for our listeners, what would it be and why? – High Output Management
• [22:55] – Parting guidance: “Have a bias towards action”

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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