How To Make $100,000/Month Doing What You Love

Summary

In this insightful interview, Chris Do, a renowned designer and entrepreneur, discusses the journey of finding one's passion and turning it into a successful career. He emphasizes the importance of mastering a skill, understanding media, and monetization, while sharing his personal experiences and strategies for overcoming limiting beliefs. Chris provides valuable advice on building a brand, embracing failure, and the art of storytelling in business. His vision of empowering individuals to find joy in their work and contribute positively to the world is both inspiring and motivating.

Takeaways

• 😀 Building a personal brand requires finding the intersection of joy, energy, and contribution to the world, as well as monetization.
• 🔍 The journey to success often involves overcoming self-limiting beliefs and finding one's 'ikigai', or reason for being.
• 🎓 Mastery is foundational, requiring dedication and skill development, but it's not limited to traditional education; it can be in various modern fields like social media marketing.
• 📢 The second 'M' in Chris's framework is media - understanding how to capture and hold attention, as every individual is a publisher of content.
• 💰 Monetization comes after mastery and media, and it's crucial to find a way to earn from what brings you joy and serves a purpose.
• 🔑 The 'ikigai' framework helps to find the intersection of what you love, what you're good at, what the world needs, and what you can be paid for.
• 🚀 Entrepreneurs should embrace the idea of 'deliberate incompetence' to delegate effectively and not become a bottleneck in their business operations.
• 🛠️ Systems and processes are vital for a business to run smoothly and for the entrepreneur to have the freedom to explore new ventures.
• 🎯 Risk-taking is an inherent part of entrepreneurship, and making bold bets can lead to significant growth or change in direction.
• 📈 Business growth isn't linear; it involves periods of stagnation followed by innovative moves that propel the company to the next level.
• 📚 Storytelling is crucial for branding, and defining traits, enemies, friends, and the narrative arc helps in creating a compelling brand story.

Q & A

Who is Andrew Tate and why is he mentioned in the script?

Andrew Tate is a public figure known for his ability to command attention and focus, even if people don't have to like him. He is mentioned as an example of someone who has become the most searched person on the internet at one point, demonstrating the impact of his presence.

What is the 'ikigai' framework mentioned by Chris in the script?

The 'ikigai' framework is a concept that helps individuals find the intersection of what they are good at, what they can be paid for, what they genuinely enjoy doing, and what the world needs. It's a tool for finding one's purpose and joy in life and work.

What are the 'three M's that Chris discusses in the script?

The 'three M's refer to Mastery, Media, and Monetization. Mastery is about acquiring a skill, Media is about capturing attention and creating content, and Monetization is about finding ways to earn from the skill and media presence.

What is the importance of 'articulation' in personal development according to the script?

Articulation is important in personal development as it helps individuals gain clarity by speaking or sharing their ideas with the world. It's a way to learn about oneself and refine one's thoughts and ideas.

How does Chris describe the transition from a service design company to an education and media company?

Chris describes the transition as a gradual process where he maintained the existing business while exploring the new venture. He ensured that the existing business could run by itself with the team in place, allowing him to build a runway for the new company.

What is the concept of 'deliberate incompetence' as mentioned by Chris?

Deliberate incompetence is a practice where a leader or entrepreneur intentionally does not perform certain tasks to allow others to take on those responsibilities. This practice encourages delegation and empowers team members to explore and learn.

What does Chris suggest for entrepreneurs who are considering quitting their job to start their own business?

Chris suggests that entrepreneurs should first ensure they have a runway of at least six months. They should live frugally, eliminate unnecessary expenses, and save as much as possible. Then, they can start working on their passion project while still employed, until they have enough proof of concept and market demand to make the jump.

How does Chris view the process of building a brand?

Chris views the process of building a brand as one of discovery rather than creation. He believes that brands are 'found' through understanding the founder's story, the problem they sought to solve, and their passion. This story then guides the brand's development and messaging.

What is the significance of having a clear 'enemy' or 'villain' in the brand story, according to Chris?

Having a clear 'enemy' or 'villain' in the brand story helps to define what the brand stands against, which can be just as important as what it stands for. This creates a stronger connection with the audience and gives them a clear understanding of the brand's mission and values.

How does Chris relate the concept of storytelling in comic books to personal branding?

Chris finds parallels between the structure of comic book storytelling and personal branding. Elements such as defining traits, enemies, friends, and the hero's journey can be applied to craft a compelling personal brand story that resonates with an audience.