Shopify President: How To Become A Millionaire For The Price Of A Starbucks Coffee! E245

Name: Shopify President: How To Become A Millionaire For The Price Of A Starbucks Coffee! E245
Uploaded: 2023-05-08T07:00:06.000Z
Duration: 3 h 40 min 20 s

The Importance of Entrepreneurship

In this section, Harley Finkelstein, the President of Shopify, talks about his mission to encourage more people to become entrepreneurs and how entrepreneurship can be an affordable option for anyone.

Becoming an Entrepreneur

After his father was arrested during college, Finkelstein shifted into survival mode and became an entrepreneur.

Finkelstein co-founded Shopify with Toby Lütke by improving on existing e-commerce platforms.

Businesses are created based on a nugget of an idea that is explored and developed over time.

Encouraging More Entrepreneurs

Finkelstein's mission is to encourage more people to try their hand at entrepreneurship.

He would invest in creators and those who are passionate about their work.

The Diver CEO is holding dinner parties around the world for subscribers to encourage entrepreneurship.

Benefits of Entrepreneurship

Commercializing hobbies can lead to better products for consumers and help individuals find their life's work.

I apologize, but I cannot see any transcript or video to summarize. Please provide me with the necessary information so that I can assist you in creating a comprehensive and informative markdown file.

Passion for DJing

In this section, Tobi Lütke talks about his passion for DJing and how he started his own DJ company.

Passion for DJing

As a child, Tobi was fascinated by DJs at Bar Mitzvah parties who could get people dancing.

Despite being too young to be hired as a DJ, Tobi decided to start his own DJ company at the age of 17.

However, when he moved back to Montreal at 17 to attend university and support his family after his father's death, he started selling t-shirts instead of pursuing his passion for DJing.

Today, as the CEO of Shopify, Tobi is passionate about the company's mission to help more people become entrepreneurs.

The Role of Trauma in Entrepreneurship

In this section, Tobi discusses the role that trauma can play in driving entrepreneurs and founders.

Trauma and Entrepreneurship

According to Barbara Corcoran from Shark Tank, many successful entrepreneurs have underlying trauma that fuels their drive.

Insecurity and shame can also be powerful drivers for better or worse.

While therapy is not necessary for all entrepreneurs and founders, self-awareness is crucial.

Therapy can be a helpful tool for achieving self-awareness more quickly than other methods like meditation or reading books.

The Man in the Arena

In this section, the speaker talks about how being an entrepreneur is like being a man in the arena. He shares his favorite poem by Teddy Roosevelt and explains why he loves entrepreneurship.

Entrepreneurship and Being in the Arena

Entrepreneurship is fundamentally about solving problems using the least amount of resources but with the highest output.

Being an entrepreneur means being in the arena where there's a lot of fighting and it's tough, but it's a better way to live.

There will be critics who will try to tear you down, but if you deeply want to build something for yourself, your family or for the world, you have to be in the arena.

Failure as Discovery

Failure is not about being a failure as a person but rather discovering something that didn't work.

Separating yourself from failure versus separating your project or particular thing from failure is important.

Failure can be seen as discovery which makes it easier to learn from mistakes and improve next time.

Courage to Fail

Shopify puts out many products knowing that not all of them will be successful, but some will be game-changers for their business and users' lives. Courage is needed when taking on new responsibilities or roles because there's always a risk of failure.

Failure should not limit one's ability to fail fast because it helps entrepreneurs build great products and become successful.

Finding Your Strengths

In this section, Tobi Lütke talks about how he realized that being a well-rounded leader was not his strength and how he found his true calling by focusing on his storytelling abilities.

Focusing on Strengths

Tobi Lütke admits that being a well-rounded leader was not his strength.

He realized that he could be spiky instead of trying to be well-rounded.

He discovered the President role, which is very external facing and where he could use his storytelling abilities.

Admitting Failure

Tobi admits that it took him too long to realize that he was not the right CEO for Shopify.

He became happier when he found the role where Shopify would benefit most from his superpower, which is storytelling.

Importance of Self-Awareness

People often take promotions without considering if they are good at the new role or if they would enjoy it more.

Lack of self-awareness can lead to ego-driven decisions and unhappiness in the long run.

Pete's example shows the importance of self-awareness in career decisions.

New Operating Model

Shopify recently introduced a new operating model where senior independent contributors are paid the same rate as senior managers.

This allows people who love their craft to continue doing what they're good at without having to become managers for additional compensation.

Self-Identity and Ambition

In this section, the speaker discusses how self-identity can impact ambition in the workplace. He uses the example of an employee named Pete who is ambitious about perfecting his craft and skill set but doesn't feel ready to leave his current role yet.

Pete's Ambition

Pete may be ambitious about perfecting his craft and skill set.

He doesn't believe he's ready yet to leave his current role because there is still work to be done.

Most companies turn their employees into "River Stones" by forcing them to be well-rounded instead of allowing them to focus on their strengths.

The "T-shaped" model of skill set, where one goes broad on many things but deep on one thing, is much better.

Spikiness and Entrepreneurship

In this section, the speaker talks about spikiness as it relates to entrepreneurship. He shares a personal story about how a mentor convinced him to go to law school not necessarily to become a lawyer but rather to gain more knowledge that would make him a better entrepreneur.

Spikiness and Entrepreneurship

Spikiness refers to having a clear understanding of one's strengths or unique abilities.

A mentor suggested going to law school not necessarily for good grades or becoming a lawyer but rather for gaining knowledge that would make someone a better entrepreneur.

Going deep on one's spiky point can lead to success in entrepreneurship.

Law School for Entrepreneurs

In this section, the speaker talks about how law school can help entrepreneurs become better versions of themselves.

Importance of Law School

The speaker suggests that entrepreneurs should attend law school not to become lawyers but to gain insights that will make them better entrepreneurs.

Law school provides unique skills that are complementary to entrepreneurship and not obvious to most people.

The speaker shares his personal experience of attending law school and how it helped him develop critical reasoning, negotiation, and writing skills.

Skill Stacking

The speaker discusses the concept of skill stacking, where individuals combine six complementary skills in an industry to become the best at a particular thing.

Being in the top 10 at six unobvious complementary skills makes one the best in a million people at that particular thing.

The example of Cristiano Ronaldo is used to illustrate how he is considered the best player in the world because he indexes high on various things.

Podcast Production

In this section, the speaker talks about podcast production and why learning microphones and cameras may not be necessary for podcast producers.

Learning Microphones and Cameras

The speaker suggests that learning how to use microphones and cameras may not be necessary for podcast producers.

Learning Complementary Skills

In this section, the speaker talks about how learning complementary skills can make someone a hard-to-find talent. He also discusses the importance of finding partners with complementary skill sets when starting a company.

Learning Complementary Skills

Learning different skills such as story arc construction, set design or DJing can make someone a hard-to-find talent.

It is often difficult to find someone who can code and is also an exceptional storyteller and visionary.

Instead of just becoming better at coding, going to public speaking sessions can be an unbelievable hack for coders.

Most people start companies with people just like them, but it's better to find partners with complementary skill sets from different faculties.

Importance of Complementary Skill Sets

Building things that change the world requires partnerships and relationships with other people who have complementary skill sets.

The speaker learned important skills from his experience as a DJ that he applies to running a large public company.

Having a good relationship and connection with clients is important in achieving great results even if half the party doesn't want to dance.

Before any serious negotiation, it's important to get to know the person on the other side of the table and find common ground.

Reading the audience is crucial in DJing, and finding ways to engage them without being awkward is key.

Finding Better Strategies

In this section, the speaker talks about finding better strategies for getting things done by using hacks.

Finding Better Strategies

Finding better strategies involves finding hacks and ways to improve the process.

Instead of asking people to get up from their chairs and come onto the dance floor, have something in the middle of the dance that people want to see.

Reading the audience is crucial in DJing, and finding ways to engage them without being awkward is key.

Before any serious negotiation, it's important to get to know the person on the other side of the table and find common ground.

The Value of Hobbies in Building Skills and Empathy

In this section, the speaker discusses the importance of hobbies in building skills and empathy. He shares two personal examples of how his hobbies have helped him become a better leader at Shopify.

Polymaths and Comprehensivists

A polymath is someone who knows a lot about a lot of different things.

The speaker believes that being a polymath or comprehensivist is valuable because it allows one to pull from different areas to create something unique.

Personal Examples

Helping with Wife's Ice Cream Business

The speaker's wife started an ice cream company in 2016.

Even though it was her business, he helped with tasks like accounting and procurement.

This experience built empathy for small business owners and helped him understand Shopify's features better.

Starting a Tea Business During the Pandemic

During the pandemic, the speaker's anxiety increased, and he started drinking more coffee.

His friend introduced him to green tea as an alternative.

They started experimenting with different teas and created a small tea business called Fire Belly.

This hobby allowed him to understand every feature and functionality of Shopify better.

Importance of Hobbies

Pursuing hobbies can make one a better leader by building skills and empathy.

People often don't pursue their hobbies because they feel like distractions or don't see them as valuable.

Removing expectations from hobbies can allow one to enjoy them without pressure.

Starting a Business on Shopify

In this section, the speaker talks about how easy it is to start a business on Shopify and why it's a good idea to start when you're in school or have a job.

Getting Started

Anyone can start their own business on Shopify.

Most people don't even assume they need to register their business until weeks after signing up for Shopify.

The cost of failure is as close to zero as it's ever been.

Starting in School or with a Job

It's easier to get started on a business when you're in school or have a job and your side hustle has little expectation.

Most successful businesses on Shopify were accidental and started with just an idea.

Homegrown Success Stories

In this section, the speaker shares some examples of successful businesses that started small and grew into something big.

Examples of Successful Businesses

Figs was born from Heather and Sharina sitting at a coffee shop with a friend who was wearing hospital scrubs that looked like they could be improved upon.

Gymshark came about because Ben Francis noticed there were no clothes for regular gym-goers.

Shopify itself was created by an immigrant from Germany who couldn't get a job in Canada and decided to start his own snowboard company.

Overall, the speaker emphasizes that starting your own business is easier than ever before and that it's important to take advantage of opportunities when they arise. He also highlights the importance of curiosity and exploration in building successful businesses.

Starting Shopify

In this section, Tobias Lütke talks about how he became one of the first customers to use Shopify in 2006 and later joined the company as its first non-technical employee.

Joining Shopify

Tobias Lütke became one of the first customers to use Shopify in 2006.

He later called the company and expressed his desire to join them.

Despite being a non-technical person, he was hired as one of their employees.

Competition in Business

In this section, Tobias Lütke talks about competition in business and how it did not matter that there were already established competitors when they started Shopify.

Competitors at the Time

There were many competitors when Shopify was just getting started, including Yahoo stores and Magento.

The idea was not necessarily to do something no one else was doing but rather to do it better than others.

Doing It Better

The difference between great companies and good companies is that great companies try to do things better than others.

Execution of an idea is where winners and losers are established.

Evolution of Shopify

In this section, Tobias Lütke talks about how Shopify evolved over time from a platform for building online stores into a comprehensive e-commerce solution.

Initial Idea

The initial idea behind Shopify was to allow people to build beautiful online stores quickly and effectively that were customized for their particular brand.

They wanted to bend the learning curve around entrepreneurship.

Adding Features Over Time

Over time, they added features such as payments, capital, fulfillment, point-of-sale systems, cross-selling across different markets, and bank accounts for managing cash flow.

Shopify evolved from a platform for building online stores into a comprehensive e-commerce solution.

Philosophy of Success

In this section, Tobias Lütke talks about the philosophy that enables a team to take on challenges with multiple competitors and do it better.

Importance of Empathy

Having deep empathy for merchants and helping customers use your product is very important.

Many companies focus on power users, but Shopify focuses on all merchants.

Doing It Better

The key to success is not necessarily having a novel idea but doing it better than others.

Winners and losers are established based on execution.

Shopify's Approach to Building Loyalty with Merchants

In this section, Tobi Lütke, the CEO of Shopify, discusses how the company builds loyalty with its merchants by adding value at every step of their journey. He also talks about how they use practicality as a lens for developing new features and why they invite challenges.

Using Technology to Make Things Better

Shopify uses software and technology to make things better for its merchants.

The company adds value at every step of the merchant's journey.

This approach helps build loyalty with merchants who become successful on the platform.

Practicality as a Lens for Developing New Features

Shopify uses practicality as a lens for developing new features.

They think about what each feature can do for merchants and what the practical implications are.

For example, they used AI to help merchants write product descriptions that convert better.

They also thought about using blockchain technology for token-gated commerce.

Inviting Challenges

Shopify invites challenges because it wants to come out stronger on the other side.

The company is fundamentally anti-fragile and can rebuild itself better, stronger, and faster after facing challenges.

They invited Supreme, an iconic brand known for its large flash sales, onto their platform because they knew it would test their limits and make them more resilient.

Building Resilience in Teams and Individuals

In this section, the speaker discusses the importance of resilience in both companies and individuals. He talks about how resiliency can be taught and learned from experiences, and how it is important to foster a culture of resiliency in teams.

Importance of Resilience

Companies should embrace anti-fragility and welcome challenges that make them better.

Resilience is not just for companies but also for individuals.

The most interesting people are those who have built resilience on their own through experiences.

Fostering Resilience in Teams

Resiliency can be taught and learned from experiences.

Look for entrepreneurs when building a team or creating a culture that is effective.

Invite entrepreneurs into your company to create an environment that they want to be part of.

Attention to Detail and Evolving Company Culture

In this section, the speakers discuss the importance of attention to detail in creating a strong company culture. They also debate whether a company's culture should be static or evolve over time.

Attention to Detail

The speaker notes that attention to detail is important in creating a strong company culture. He gives an example of how having the same books on a shelf in different locations shows care and attention to detail.

The speakers agree that attention to detail matters to certain types of people, and by demonstrating it, you invite more of those people into your life.

Static vs. Evolving Company Culture

The speakers debate whether a company's culture should be static or evolve over time.

One speaker argues that every new person who joins a company should cause the culture to change slightly, hopefully for the better.

However, he disagrees with the idea that culture should be completely static. He believes that as long as people are doing the right thing when no one is watching and constantly challenging each other, then the culture will continue to improve over time.

The other speaker agrees with this point but notes that there is often romanticism about the early days of a company. He argues that while it's important for a founder-led company to have a founder mindset, it's not necessary for them to be physically present for this mindset to exist.

Building Strong Cultures

The speakers discuss how companies often start like cults before transitioning into growth phases where they need to rapidly install processes.

They note that building strong cultures involves being honest about what type of place you are and what values you hold. For example, Netflix created a public document outlining their unique culture guide which helped attract like-minded individuals while deterring those who didn't align with their values.

They also emphasize the importance of hiring disciplined individuals who align with the company's culture and values, as well as being willing to let go of those who don't.

The Importance of Company Mission

In this section, the speaker discusses the importance of a strong company mission and how it can impact an individual's work.

Finding a Company with a Strong Mission

A strong mission is important at every stage of a great company.

It is crucial to find a company whose mission deeply reflects your own life's mission.

If you have the ability to find a company whose mission you believe in, that's probably the company you should go work for.

The Impact of Company Mission on Work

The speaker believes that he can't do his life's work at Pepsi because ultimately, they are selling products that he doesn't love.

The speaker found Shopify to be the place where he can do his best work because its mission hits home for him.

What is the point of the company? That really matters for those entrepreneurs then that Shopify supports.

Solving Information Problems as an Entrepreneur

In this section, the speaker talks about how entrepreneurs can solve information problems and recommends mentorship as one solution.

Mentorship Framework

The speaker uses a simple mentorship framework: He doesn't think any particular mentor is going to be someone you should wholesale take everything they say.

Solving Information Problems

There are many ways entrepreneurs can solve information problems such as attending conferences or networking events.

One way to solve information problems is through mentorship.

Mentors don't necessarily need to be experts in your field but rather people who have had success in their own lives and relationships.

Mentoring Philosophy

In this section, the speaker talks about his philosophy on mentorship and how he finds mentors in different verticals.

Finding Mentors in Different Verticals

The speaker believes that it's better to focus on verticals instead of trying to find one person who can do everything.

He gives an example of finding a mentor for parenting and mentions that he calls three or four people who are good at it.

The speaker explains that having different mentors for different aspects of life is important because you can't be good at everything.

He also mentions that as you evolve, you may have to replace some mentors with others who are more relevant to your current situation.

Building Your Informal Board of Directors

The speaker suggests finding people who are at a similar stage as you, even if they're not in the same vertical.

He recommends looking for these people online through platforms like Reddit and YouTube.

By building an informal board of directors, you can acquire more information and insights from people who have experience in areas where you lack expertise.

Characteristics of Successful Founders

In this section, the speaker discusses the characteristics of successful founders and entrepreneurs that he would invest in.

Investing in Content Creators

The speaker believes that successful content creators are those who create something new and innovative rather than just putting their logo on an existing product.

He suggests investing in a creator who is on the verge of figuring out what their audience likes and creating a better version of it.

Niche Focus

The speaker mentions James Purse, who is obsessed with black t-shirts, as an example of someone who has gone deep into one particular vertical and built the best version of it on the planet.

He believes that most people start with something broad but investing in someone like James Purse, who does one vertical really well, could be a good investment opportunity.

Bringing Unattainable Products to Masses

The third type of founder that the speaker would invest in is someone trying to bring something unattainable for the masses into their hands.

Overall, the speaker emphasizes investing in founders who are passionate about what they do and have a unique perspective or approach to solving problems.

Making Quality More Accessible

In this section, the speaker talks about making quality more accessible to the masses and what he looks for in people he wants to work with.

Characteristics of People He Wants to Work With

The speaker is looking for people who are optimistic, hardworking, and have high character.

He wants someone who would still do the same thing even if they had a million dollars or 100 million dollars because that is their mission and life's work.

The speaker believes that surfboard people are deeply curious and ambitious, which is why he wants to work with them.

Effective Prioritization

The speaker diarizes everything that is important to him both professionally and personally in his calendar. This helps him prioritize things better than most people who try to fit things in.

He commits himself to spending time with every person he wants to hang out with or mentor by putting them in his calendar every four weeks.

The Importance of Life's Work

In this section, the speaker discusses the importance of focusing on one's life's work and how it intersects with what they are good at, what the world values, and what adds value to their life.

Life's Work Spectrum

The speaker emphasizes that the projects they are currently working on in Canada are important because they align with their life's work.

They explain that their life's work is about finding what they are good at, what the world values, and what adds value to their life.

Ikigai Concept

The speaker mentions the concept of "ikigai," which is a Japanese version of life's work.

They describe how their conversation with the host hits many intersections on the Venn diagram of ikigai.

Managing Stress with Whoop

In this section, the speaker talks about how stress impacts productivity and health and introduces Whoop as a tool for managing stress.

Impact of Stress

The speaker reflects on how their previous workaholism impacted their stress levels, productivity, sleep quality, and overall health.

They emphasize that stress management is crucial for overcoming anxiety and improving overall well-being.

Whoop as a Tool for Managing Stress

The speaker introduces Whoop as a wearable device that helps manage stress through scientifically backed breathing exercises developed by Dr. Andrew Huberman.

They recommend checking out Whoop if struggling to manage or overcome stress.

Blue Jeans by Verizon

In this section, the speaker introduces Blue Jeans by Verizon as a sponsor of the podcast and highlights its features.

Blue Jeans Basic

The speaker introduces Blue Jeans Basic as a free version of their top-quality video conferencing tool.

They highlight its immersive video experience, high-fidelity audio and video, zero time limits on meeting calls, and enterprise-grade security.

Personal Challenges During the Pandemic

In this section, the speaker reflects on their personal challenges during the pandemic while working at Shopify.

Personal Challenges During the Pandemic

The speaker shares that they felt very lonely during the pandemic and struggled with low energy and high anxiety.

They reflect on how Shopify had to hire a lot of people quickly due to physical retailers shutting down overnight.

The speaker admits that they were not present for their team or family during this time.

Challenges of Leadership

In this section, the speaker talks about his experience as a leader and the challenges he faced. He discusses how he felt lonely and overwhelmed with the responsibility of leading a large team.

Feeling Overwhelmed

The speaker talks about feeling overwhelmed when transitioning from being a co-leader to president.

He had 6000 people reporting to him, which was too much for him to handle.

The speaker lacked self-confidence and introspection to realize that he was in the wrong job.

Finding His Craft

The speaker realized that he loved storytelling but was too caught up with ego and insecurity to admit it.

With help from coaching and colleagues, he discovered a role that allowed him to focus on storytelling.

By sharpening his skills in storytelling, the speaker became more valuable to his team.

Seeking Support

The speaker did not speak up about his struggles at first because he could not see them himself.

He thought maybe it was time for him to quit since he had been there for so long.

However, once he found his craft, he became happier and more fulfilled in his work.

Conclusion

The speaker's experience highlights the importance of finding one's craft as a leader. It is also important to seek support from colleagues and partners when struggling with leadership responsibilities.

Struggling with Mental Health During the Pandemic

In this section, the speaker talks about his experience struggling with mental health during the pandemic and how he wished he had reached out to others for support earlier.

Importance of Reaching Out

The speaker emphasizes the importance of reaching out to friends, partners, or family when struggling with mental health.

He shares that he waited too long to have a conversation about his struggles and wishes he had done it sooner.

The speaker explains that he didn't feel like he had permission to complain because others were experiencing more significant challenges during the pandemic.

Vulnerability and Accountability

The speaker discusses how vulnerability can be a strength when shared with the right people such as good friends, family, colleagues, or partners.

He argues against the common critique of telling people your goals and instead encourages sharing them as a way to hold yourself accountable.

The speaker notes that vulnerability is a magnet rather than a repellent and can be an antidote for loneliness.

Loneliness vs. Being Alone

The speaker distinguishes between being alone and feeling lonely during the pandemic.

Simon Sinek's perspective on loneliness is mentioned where one may feel lonely despite having many friends.

Overall, in this section, we learn about the importance of reaching out for support when struggling with mental health during challenging times. We also learn about how vulnerability can be a strength when shared with trusted individuals. Finally, we distinguish between being alone versus feeling lonely during difficult times.

Entrepreneurship and Loneliness

In this section, the speakers discuss the loneliness that comes with entrepreneurship and how having people around you on a similar journey can help alleviate that feeling.

Finding Connection in Shared Experiences

Having people around you on a similar journey can make entrepreneurship less lonely.

Finding someone who is going through the same experience as you creates an immediate connection.

Sharing an experience takes away from the loneliness.

Remote Work and Community

The debate over remote work and its impact on community institutions.

Work is one of those institutions that remains, but it's dangerous and age/demographic-specific.

Being around people to build connections and skills for synchronous work may be more beneficial than remote work for some individuals.

Shopify's Approach to Remote Working

Shopify's approach to remote working: digital by design.

The advantage of being able to work anywhere while still having bursting locations where teams can come together in person at least once a quarter.

Encouraging teams to spend time together in person is important for forming healthy teams.

Balancing Remote Work with In-Person Collaboration

In this section, the speakers discuss balancing remote work with in-person collaboration and the potential downsides of both approaches.

Digital by Design Model

Shopify's digital by design model allows employees to work from anywhere but requires them to spend time with their team in person at least once a quarter.

The downside of this model is that it may not work for everyone, depending on their manager's preference for in-person collaboration.

The Importance of Community and Rituals

In this section, Tobi Lütke talks about the importance of community and rituals in our lives. He reflects on how technology is stripping us of in-person connection and how we need to develop our own version of a tribe.

Importance of Rituals

We all need rituals in our lives.

The key is consistency and direction of travel.

Tobi shares his own ritual - Sabbath dinner every Friday night with family.

Society is optimizing against natural connection, but we can create new rituals all the time.

Importance of Community

We all need our own version of a tribe.

Shared experiences even if we don't know each other can be impactful.

No one has it figured out; self-awareness is important to move towards a better version of ourselves.

Being honest about loneliness and having tactics to move towards a better version of ourselves.

The Diary of a CEO Conversation Cards

In this section, the host introduces "The Diary of a SEO" conversation cards that are on sale on Shopify. These cards contain questions from previous guests on the show and are designed to help people connect with each other.

Introduction to The Diary of a CEO Conversation Cards

The cards contain questions from previous guests on the show.

They are designed to help people connect with each other.

The front of the card has a question and the back has a QR code scanner that links to the next guest who answered it.

Gary Neville's Vulnerability

Gary Neville is asked to share something he has never told anyone before.

He admits that he doesn't feel like he is a great father despite wanting to be one.

He worries that his kids will be too old by the time he figures out how to become a great father.

There is no clear metric for measuring whether or not someone is a great father, making it challenging.

Metrics for Being A Great Father

Independence: One metric for being a great parent is whether or not your children are able to be truly independent.

It's difficult to gauge whether or not you're doing well as a parent because there isn't really any way to measure it.

Pursuing greatness as a father may be more important than actually achieving it.

Common Misconceptions About Entrepreneurship

In this section, the speaker talks about a common misconception people have about him and how it makes him feel.

Failure in Business Ventures

The speaker admits that he has not talked much about his failures in business ventures.

He believes that these failures are not necessarily valuable compared to his successes.

The speaker started several companies that failed miserably, but people think everything he worked on turned out to be successful.

Imposter Syndrome

The speaker feels like he is not being as helpful or honest as he should be because he does not have the space or venue to talk about his failures.

He thinks there is a dissonance between the perception of him and what whispers in his head when he is alone.

Sometimes, the speaker pretends that things come easy to him, but they do not. He works really hard on his craft.

Emulating Work Ethic

The speaker was never the smartest kid in any of his classes. Instead, he outworked everybody else.

If anyone wants to emulate anything that the speaker has done, they should emulate his work ethic and journey rather than just focusing on the destination.

Advice for Aspiring Entrepreneurs

In this section, the speaker gives advice to aspiring entrepreneurs and emphasizes that the cost of failure is low in modern times.

Cost of Failure

The cost of failure is currently the lowest it has ever been in history.

This means that there is no reason not to keep trying if an idea fails.

If one idea doesn't work, try something else.

Starting a Business

Many successful businesses on Shopify started as shower ideas or small projects.

There are now companies on Shopify doing over a billion dollars in sales that did not exist six years ago.

Think about something you already do and consider turning it into a business. For example, there is a store on Shopify that sells matzo ball soup made by someone who was just making it for friends and family before starting their business.

Changing Diet for Better Health

In this section, the speaker talks about changing his diet after speaking with health experts.

Changing Diet

The speaker has been changing his diet over the last four months based on advice from health experts he spoke with on the podcast.

This change has caused a big change in his life.

Huel Daily Greens

In this section, the speaker talks about a new product called Daily Greens by Huel. It is a plant-based product that contains 91 superfoods and nutrients to help meet dietary requirements.

Introduction to Daily Greens

Huel has announced a new product called Daily Greens.

Daily Greens is a plant-based product that contains 91 superfoods and nutrients.

The product helps meet dietary requirements with convenience.

Availability of Daily Greens

Currently, the product is only available in the US.

The speaker hopes that it will be available in the UK soon.

Personal Experience with Daily Greens

The speaker has been using Daily Greens for the last couple of weeks in LA.

According to the speaker, it's an incredible product and a game-changer.