See how Noah, the founder of AppSumo, now earns more than a million dollars a year

 When I was on AppSumo a few days ago, Noah happened to be using 0 dollar to sell his YouTube growth hacking tips: https://appsumo.com/products/noahs-youtube-tips/, but to be honest, I didn’t know he is the founder of AppSumo at that moment. I found he is doing great through Youtube. 

It has been mentioned before that my content is too tough in writing investment analysis, so I am trying to do other content, and what I think of now is to test this "million" series first.

However, I won't put a link to the video at the beginning. Let's get to the point. 

In the first 4 minutes, Noah simply used a pie chart to analyze his income, which has nothing to do with everyone, so after reading it a few times, it is recommended to skip directly to 4:06 (see how valuable my abstract is, if you make 1 million per second, how much money can be saved?).

Noah mentioned a key point at the beginning, the so-called 90/10 rule, which is similar to the general 80/20 rule, which means that 90% of his personal income will come from a single source, which is AppSumo, and then you can jump to 6:34. 

Here are 8 keys to becoming a millionaire:

1. Keep living expenses low

由 Vauxford - 自己的作品, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=65397788

The car in the picture above is the same one that Noah drove, and it is indeed a very civilian car.

2. The 10-year rule

Noah emphasized this, and he believes this is very important, so he extended three reminders below:

i. To understand in your heart that to be successful, you have to invest in the corresponding time.

ii. Find something you want to do for 10 years

iii. Execute now

3. Side business or entrepreneurship has no development limitations

Personally, I have doubts about this idea. All entrepreneurial projects must be based on assumptions, and the biggest assumption is that entrepreneurs will assume that their products and services will be paid by someone.

But from personal experience, for some of my entrepreneurial projects, there are few people who pay the bill, and some of them have a very low frequency of paying the bill. Both of these situations will limit the growth of entrepreneurial projects, so the choice of target market is still an important issue. 

4. Leverage

Noah mentioned that there are only two keys to the company's growth, one is technology and the other is people, which I agree with. In the last sentence, he also mentioned: "You have to hire someone to do things for you so you can raise your perspective and turn your attention to more meaningful things! "

5. Do what you love to make money

This is clear and requires little explanation, but Noah also mentioned that it is important to also focus on the ROI of time.

6. Double Down

7. Solve your own problem 

The logic is super simple, even if there are no customers, you will still be happy because your own problems are solved.

8. Find ways to approach the following types of people:

i. Those who are richer than us:

Find a way to solve the problems of people who are richer than you, and they will be willing to pay

ii. Inspiring people

To be honest, what has been changed after getting 1 million? 

The answer is the same as the answer I got last time I watched the Guilliaum Moubeche channel, which is "no change".

So the focus is not on how much money you make, but on what kind of life you want to live. If you figure out how much money you need for retirement, you will not just blindly want to make money (but this sentence, in Taiwan, where the salary is low, may not be applicable).

Finally, Noah has 4 reminders:

i. This is everyone’s own journey, but Noah is willing to assist

ii. Making money takes time

Noah said he graduated in 2004 and 16 years have passed since he released the film in 2020.

iii. Highly focused on productive things

iv. Find your passion

Personally, I think Noah's story is more like something that ordinary people can try. According to another video of him, before he started AppSumo, he had a total of 24 side hustles. Obviously for most people, this is a long road.

Here is the video link: