Get my Free New Business Jumpstart Kit<\/a><\/div>\n<\/div>\n\n\n\nLesson 4: Good consistent content beats sporadic great content.<\/h2>\n\n\n\n
The fourth takeaway from this book is to not be afraid of reinventing the wheel. There are a ton of tools out there that can help you reverse engineer how your competitors or similar people in your space we’re successful.<\/p>\n\n\n\n
One of the tools that Nathan references is Similarweb, which is something I’ve also used in the past. He also references how you can reverse engineer success by using SEO tools like Ahrefs to find what the long tail placements are for competitors, as well as their top ranking pages and back links. If you’ve been a viewer for awhile, you know, that I personally prefer SEMRush. However, both tools are more or less interchangeable when it comes to getting the job done in this sort of investigation action.<\/p>\n\n\n\n
Lastly, Nathan also is a big champion of building things with Toptal or through Upwork and other freelancer networks, as opposed to giving equity upfront. The reason why is because you can create a minimum viable product through these channels and then just test it in the market to see if it actually stick without having to give up equity in your business or whatever venture you are working on.<\/p>\n\n\n\n
Overall, one of the things he hammers home in this book though, is that you don’t need to feel the need to be the first to ever do something. You can just simply out execute other people and build a great business that way as well. And I full heartedly agree with that. I think there are a ton of ways in which you can build value, provide it for the world and not necessarily have to create the next electric vehicle for the rest of the world.<\/p>\n\n\n\n
Takeaway 5: Stick to what works for you.<\/h2>\n\n\n\n
Takeaway number five is to always make the ask. One of the things that I admire about Nathan Latka is that he is fearless in always making an ask. He’s not afraid to make an ask for a great deal in negotiations as well as even when it comes to selling his companies. For example, he shares how one time when he was selling a company, he made sure to ask, is this your best offer?<\/p>\n\n\n\n
And simply by challenging the person that is about to buy his business, to see whether or not they have an upper limit that they’re actually willing to do, he’s able to extract more value to create a win situation for himself. This is something where I think obviously your mileage may vary depending on your personality and how comfortable you are in doing this.<\/p>\n\n\n\n
But I would generally say that the takeaway for me here is that you should always try to push the upper limit a little bit and push yourself to really see what you are actually capable of. If you’ve ever read some sales books, it closely relates to the concept of the Challenger Sale and what you really want to actually push the envelope with your prospect when you’re negotiating some sort of deal or selling something or whatever it is related to business.<\/p>\n\n\n\n
Big takeaways<\/h2>\n\n\n\n
There are two things that I want you to remember from Nathan Latka’s How to Be a Capitalist Without a Capital:<\/p>\n\n\n\n
- The first one is don’t be afraid of thinking outside the box when you are solving a problem.<\/li>
- The second one is to make sure that you create a team to help you leverage your time when you are building your business.<\/li><\/ol>\n\n\n\n
Overall, I’d give this book a two and a half or a three out of four stars. It’s by no means an instant business book classic that I would recommend in the top five lists that I’ve ever read. That said, though, I always think it’s helpful to read the memoirs or books of other great entrepreneurs to learn about how they think about things. And the only hangup that I really have that knocks it is that Nathan’s personality is a little bit too much for me.<\/p>\n\n\n\n
He’s a little bit too confident and sometimes comes across as too cocky as a result. And that just doesn’t really vibe well that well with me personally. That said, though, if you want to read a book that has some real-world examples as to how entrepreneurs today are building viable businesses, then I definitely recommend you check out this book because he provides a ton of exact examples as to how he’s been able to do these things in his own life.<\/p>\n\n\n\n
If you liked this article, be sure to check out my YouTube channel<\/a> to get new videos every single week. I’ll help take you from zero to self-starter as you grow your business, get more customers, and hone your business acumen. Also, feel free to share this with anybody that you think might benefit from these takeaways that I learned from Nathan Latka’s book.<\/p>\n\n\n\n