THE ALMANACK OF NAVAL RAVIKANT BOOK SUMMARY BY ERIC JORGENSON
HOW TO MAKE MILLIONS FROM SOCIAL MEDIA | THE ALMANACK OF NAVAL RAVIKANT SUMMARY
Introduction
20 years ago. If someone wanted to become an actor. Then they used to catch trains to Mumbai. If someone wanted to be successful in business. Then they used to do an MBA. And if someone wanted to sell. They used to go door-to-door. But due to the internet, everything changed. Now YouTube, Instagram, Facebook, and Twitter are not only social media platforms. These are banks for influencers. A father made a video by cutting a baseball and showing inside things for the project to his son. And today he has 7M+ followers on YouTube. And earning lakhs per month. In the whole history, the revolution came after the printing press is from the Internet. That has changed things very much. Intel chairman "Andy Grove" used to say, In the coming years, all companies will become internet-related companies. And the company that will be not connected to the internet, that companies will not survive. The age of TV is almost coming to an end. People are becoming sensible. Today, Instead of buying things by seeing TV ads, people see the reviews on the Internet, and do some research. And, buy the things recommended by their favourite influencer. Means, Today every influencer has become a brand. So today I will share some things from Eric Jorgenson's book "The Almanack of Naval Ravikant" By which you will understand that what is the real wealth. lessons from the almanack of naval ravikant
Chapter 1 the almanack of naval ravikant chapters
How will the power to sell things will shift from Companied to influencers in the coming era? How can you alone, with the help of social media platforms like YouTube and Instagram, build a business, that will make lakhs of rupees per month? Some days before I have seen a photo. In which it was written that "Businessman is one who buys bananas for $1 and sells them for $2. Means the profit is $1. An entrepreneur is one who buys bananas for $1 and sells them for $10 by doing some innovation i.e by making banana juice. But an influencer is one, who buy bananas for $1, by researching he tells the nutrition value of bananas, tell the benefits of eating bananas, make videos of bananas recipes, means, by taking out A to Z details of bananas, he aware the people on the internet. and earn thousands of dollars for years. Calculate the profits yourself. But these all are possible when your purpose and intention are clear. Patagonia is a clothing company, that believes in getting better instead of getting big. Let me tell you how. Being a clothing company, they need to use such chemicals and materials, that damage the environment. Then they made a mission that all the work from product manufacturing to product distribution will be done by environment conscious. In 2011, Patagonia launched a campaign to reduce excessive consumerism among the people. Named "Don't Buy This Jacket". Their aim was that people should think twice before buying things. They believe, Even though we make clothes by using organic and recycled materials. But still, there are environmental problems due to this manufacturing process. And If you will not wear these cloth for some years, or you don't donate the clothes, then please don't buy our products. Because our products are designed in such a way that they will last for a lifetime. Due to this Ethics and Transparency, their brand loyalty increases as much among their customers that Customers started buying their $900 jackets with pride. the almanack of naval ravikant a guide to wealth and happiness summary
Chapter 2
82 Years old, Patagonia's founder "Yvon Chouinard", says that This campaign is not a strategy, it's our purpose. And from when we have focused on our purpose by keeping profit and growth aside, since then we don't have a lack of customers and money. Friends, there are few companies in the world that believe in getting better instead of getting big. And I'm very inspired by this ideology. that you can earn millions from the internet. But before that, you need to capture the trust of the people. Casper is a company that makes mattresses, But instead of selling their products, They make people aware about sleep hygiene. And their mattresses sell automatically. The best way to protect your product from Copy-cat. Make your personality the part of your product. Because people can copy everything but they can't copy your personality. Naval Ravikant says "Seek Wealth Not Money Or Status". By exchanging your time with money, you can earn a living. But wealth can't be created. To build wealth. You will have to build such Equity or some Asset in any business that earns for you also during sleeping. Friends, two things are involved in any work of the world. the almanack of naval ravikant pdf free download
Chapter 3 "Risk" and "Reward".
And in most cases the relation of both are equal. Means, High Risk is equal to a High Reward. and Low Risk is equal to Low Reward. Which is called "Symmetric Opportunity". But in the opportunity where the Reward is high compared to the Risk, that is called Asymmetric Opportunity. Once Naval Ravikant told 10 such Asymmetric opportunities, in which Reward is more in comparison to Risk. For example, I took 10 minutes to make this video. But when lakhs of people will see this, then only one time 10 minutes input, 1000s hours of output can be generated in form of watch time. And this is the biggest benefit of Internet Business. That you can replicate your income If I talk about theatre artists, then he has to give a performance every time to earn money. If today he has performed in Delhi, then tomorrow it will in Mumbai, and the day after tomorrow it will in Pune, etc. But when this artist will be ill, or didn't give his performance due for any reason. Then that day he will not earn money. But a revolution come from the internet, that, if you have capabilities then you don't need to lick the soles. The artist to whom TV shows reject They make their own brand with the leveraged of the internet. And earn money and respect both. Rich mon-dad teach their children that, They should focus on a thing that they can replicate. Like The Royalty of intellectual property. Like J.K. Rowling wrote the Harry Potter only once. But even today when someone bought Books, Toys or Games of Harry Potter, or visit the theme park of Harry Potter, Then some Royalty i.e little money goes to J.K. Rowling's pocket. In short, She had worked only once, She made a pipeline of money by replicating in Toys, Games, Park, and Movies. If someone asks me what work I do. Then I tell that I'm a little Digital Farmer. I sow seeds of contents whose crops generate revenue year after year.the almanack of naval ravikant summary in English
Chapter 4
The most benefit of being a "Company of One" is Freedom. You can do anything and anywhere. In the Internet Business, Your competition is worldwide, not with the people on the street. So you will have to make a brand by targeting in any specific niche. Think Media founder says "If you try to reach everybody you'll end up reaching nobody". People teach dance on the internet. teach cooking, even they teach repairing or tailoring and earn lakhs. Only you need to be specific in any one field. Do you like clay? Well, I don't know? But most people don't like clay. But Jorgenson liked the clay since childhood. So he used to read about the soil. He used to research in that field. Who buy it? Who sell it? Which quality of soil is good? etc. He used to aware people about the Home Gardening Soil by making videos. And soon he made his own brand, that, big fertilizers and home gardening companies started approaching him. And with the help of brand promotion and affiliate marketing, Jorgenson, instead of working alone, made a million-dollar company. See, Many people think, They will become rich, When they will study hard, or do a big job, or some big work. But the fact is that, What the thing you are working on, if you have a genuine interest, and there is also demand in the industry, Then you can turn soil into gold. And You can become a millionaire.synopsis of the almanack of naval ravikant a guide to wealth and happiness
The author says that The chances to become a millionaire for self-employed people are many times more compared to jobs worker. There was a time when Oil used to be an innovation. That made JD Rockefeller rich. There was a time when Cars used to be an innovation. That made Henry Ford rich. But this is the time of the Internet. That made Bill Gates, Mark Zukerberg, and Jeff Bezos rich. This was my small try, to tell you that, In the coming time, people will trust the genuine influencer more than the big mega-company. Who also teach instead of only selling products. And due to that trust and loyalty, People will say "take my money and give me your product". Whether your interest is in any field. But I think that you are a brand. If you don't believe it, no problem. But when you will realise then remember me. book review of the almanack of naval ravikant
Thank You.
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