How to build a business in today's world? | Ishan Sharma | TEDxIPSA Indore

Summary

The speaker recounts his journey from a modest upbringing to financial freedom, emphasizing the importance of skill stacking and personal branding. He discusses the new path to wealth, where individuals like Taylor Swift and Mr. Beast have built distribution and brands before launching products. The speaker shares his experiences, including building a YouTube channel and a marketing agency, and encourages the audience to find their passion, build a personal brand, and sell the outcome to achieve financial freedom.

Takeaways

• 🏡 The speaker grew up in a modest family and spent most of his time with his sister and mother due to his father's frequent travels for work.
• 📺 He was inspired by cartoons like 'Richi Rich' and aspired for financial freedom from a young age, which led him to question the traditional path to success.
• 🎓 In college, he was aware of the challenges faced by many graduates in finding relevant job opportunities due to a lack of industry-relevant skills.
• 🚀 He experimented with various ventures like coaching courses, a merch business, teaching coding, and building a YouTube channel to achieve financial freedom.
• 📚 He authored two books, one of which became a national bestseller, and established a marketing agency with a remote team, demonstrating his entrepreneurial spirit.
• 💡 He learned from successful individuals like Taylor Swift, Mr. Beast, and Kylie Jenner, who achieved wealth by creating their own distribution channels and building strong personal brands.
• 💼 The traditional business model of product creation, funding, and advertising was flipped by these successful individuals who first built a strong audience and then launched products that their audience wanted.
• 🛠️ The speaker emphasizes the importance of skill stacking, where individuals should not only focus on hard skills but also develop complementary skills like sales, negotiation, storytelling, and public speaking.
• 🌟 To stand out, one must find their 'one thing', an area of passion or expertise, and start building a personal brand around it on social media platforms.
• 🔗 The three-step model to financial freedom involves building distribution, doing what doesn't scale to build loyalty, and selling the outcome to productize oneself and achieve freedom.

Q & A

What was the speaker's childhood dream inspired by?

The speaker's childhood dream was inspired by watching the cartoon 'Richi Rich' and wanting to achieve financial freedom to buy things like a PSP, PS3, and an iPad.

What was the speaker's realization about his father's work and its impact on family life?

The speaker realized that his father worked extremely hard to provide a comfortable life and the best education, but this also meant he was away from the family for most of the time.

What was the speaker's approach to college and his career after realizing the challenges faced by graduates?

The speaker decided not to have any regrets and tried everything possible, including launching a coaching course, a merch business, teaching coding, building a YouTube channel, writing books, and starting a marketing agency.

What is the new definition of business according to the speaker?

The new definition of business, as per the speaker, involves building distribution first through various platforms, then launching a product that the audience desperately needs and can't get elsewhere.

Who are some of the individuals the speaker met and learned from during his journey?

The speaker met and learned from some of the most popular creators in the country, successful entrepreneurs, and billionaires who built billion-dollar businesses in India.

What are the three common factors the speaker observed in successful individuals like Taylor Swift, Mr. Beast, and Kylie Jenner?

The three common factors observed in successful individuals are longevity, authenticity, and monetization.

What is the 'skill pyramid' concept mentioned by the speaker?

The 'skill pyramid' concept refers to building a stack of skills, including hard skills like coding, design, and marketing, along with complimentary skills like sales, negotiation, storytelling, and public speaking.

What is the three-step model the speaker suggests for achieving financial freedom?

The three-step model suggested by the speaker for achieving financial freedom includes building distribution, doing what doesn't scale to establish a connection with the audience, and selling the outcome to productize oneself.

What does the speaker mean by 'doing what doesn't scale'?

By 'doing what doesn't scale,' the speaker means engaging in activities that establish a personal connection with the audience, such as organizing meetups or one-on-one interactions, which are not scalable but build loyalty.

What is the key takeaway or advice the speaker gives to the audience?

The key takeaway or advice is to stop doubting oneself, find one's unique thing, build a personal brand, and unlock true freedom by following the three-step model of building distribution, doing what doesn't scale, and selling the outcome.