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From Muse To Millions With Tim Ferriss

Sep 5, 2012

Most of us dream of the day we’ll hit on our million dollar idea. Shopify wants to help you get there faster with the help of a few key mentors and a $50,000 investment upfront in their Build-A-Business competition. The entry rules are simple. Come up with a product to sell, open your online store, and pick a mentor.This year’s mentors know a thing or two about how to sell a product. Tim Ferriss, is the author of the New York Times bestseller, The 4-Hour Workweek. Tina Roth Eisenberg aka SwissMiss, is the founder of Tattly, Studiomates amongst others. Eric Ries, is the author of the best-selling The Lean Startup, and Daymond John, of Shark Tank fame, is the founder of the fashion brand FUBU.

It’s no secret that building products for the web has made many an overnight millionaire, but selling products isn’t as easy at it looks. New startups can benefit enormously from the help of an advisor. In the first of the Build-A-Business mentor lesson videos Tim Ferris shares his wisdom on how to find your “Muse,” which he defines as “any business that provides an automated source of income or cash-flow.”

He offers up insight on how to address financial needs, how to test and batch a product, how to think about scaling and more. This short video is just the jolt of practical advise and know-how to get would-be entrepreneurs excited about launching their next online businesses. (And as Tim points out in the video, starting a side business doesn’t mean you have to quit your day job.) The goal is to grow an amazing side income.

He says, “A Muse is a search for elegance. In this case, it’s a business. You can create something that a decade ago would have required a staff of 100 people, yet now, its run by a mother of two who works on it part time and puts in a few hours a week. It’s the most efficient and effective use of resources.”

Enter the competition here and you could be on the road to millions.