Connect with us

Success Advice

The Independent Music Millionaire – How Derek Sivers Made Multi Millions Selling Music Online

Published

on

Image Credit: Unsplash


Derek Sivers created CDBaby.com because he needed a way to sell his music online. Soon other musicians asked him to help them sell their music. A few years later, he found himself helping over 100,000 artists sell their music. He recently sold his company for $22 million and is comfortable in life.

Watch these videos and interviews with Derek Sivers on how you to can create a successful company from your passion and hobbies.

 

 

How A Musician Built CD Baby Into A $22 Million Dollar Business From His Home – Derek Sivers – by Andrew Warner

 

Derek Sivers – Founder Of CD Baby – Finding Your Inner Passion & Turning It Into Success

 

Why Derek Sivers Was Successful

Derek Sivers wasn’t afraid to start crappy

Derek laughs when wannabe entrepreneurs tell him about all the features they plan to include when they launch their companies. When he launched CD Baby the site’s design was pretty dorky. And instead of building a fully automated site, he did much of the order processing by hand. Quit aiming for perfection, just launch.

Derek Sivers knew what feedback to accept

Start crappy and build the business by listening and integrating user feedback. But be careful not to let user feedback take you too far off course. Derek says people kept telling him that he should launch a radio station. But he kept refusing because he didn’t think it was a good fit for his business.

Derek Sivers was patient

9 months after launching, his site was only bringing in $15 a week. Others might have have assumed that the site was a failure, but Derek was patient. He gave it room to grow.

Derek Sivers knew how to get financial security

I asked Derek if earning that first million gave him a sense of financial security. He said it didn’t. He said he got a greater sense of security by managing his own desires. Knowing that he wasn’t a wasteful spender gave him his sense of security.

Derek Sivers worked 2 hours a week

When Tim Ferriss published his book, The Four Hour Work Week, most people doubted it was possible to work that little. Not Derek. He worked 2 hours a week. He said it was because of the way he taught his staff. When anyone in the company asked him a question, he told the answer to everyone in the company. Within 6 months, everyone knew what Derek knew. “He made himself unnecessary”.

Derek Sivers Summary by Andrew Warner from Mixergy

 

13 Quotes By Derek Sivers

1. “Business is not about money. It’s about making dreams come true for others and for yourself.” – Derek Sivers

2. “Making a company is a great way to improve the world while improving yourself.” – Derek Sivers

3. Utopia. “When you make a company, you make a utopia. It’s where you design your perfect world.” – Derek Sivers

4. What matters. “Don’t pursue business just for your own gain. Only answer the calls for help.” – Derek Sivers

5. Success. “Success comes from persistently improving and inventing, not from persistently promoting what’s not working.” – Derek Sivers

6. Your plans. “Your business plan is moot. You don’t know what people really want until you start doing it.” – Derek Sivers

7. The power of exclusion. “You can’t please everyone, so proudly exclude people.” – Derek Sivers

8. Revolution. “Five years after I started CD Baby, when it was a big success, the media said I had revolutionized the music business. But ‘revolution’ is a term that people use only when you’re successful. Before that, you’re just a quirky person who does things differently.” – Derek Sivers

9. “If it’s not a hit, switch.” Don’t spend years pushing ideas that people don’t seem into. “Whenever you’re not getting a massive frothing-at-the-mouth “I want to pay you now” response, just don’t do it. Let it go and try something else.” – Derek Sivers

10. Hell Yeah! “If you’re not saying “HELL YEAH!” about something, say “no”. – Derek Sivers

11. You don’t know ’till you’ve opened in New Haven. “Anytime you think you know what your new business will be doing, remember this quote from Steve Blank: ‘No plan survives first contact with customers’.” – Derek Sivers

12. The wisest decision criteria. “Make every decision—even decisions about whether to expand the business, raise money, or promote someone—according to what’s best for your customers.” – Derek Sivers

13. The silence of the web. When he mass emailed CD Baby customers (in the millions), he learned to be so careful in what he wrote. Even a tiny mistake or lack of clarity could generate thousands of emails from readers that took days to respond to. He learned to write succinctly, lucidly, carefully, with the reader always in mind.

 

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Success Advice

Is Your Business Killing You? Why Self-Care Unlocks The Highest Levels of Success

Self-care is the most important aspect of running your business

Published

on

self care for business owners
Image Credit: Midjourney

Besides fear, what drives you? And why are you afraid of losing it all anyway? What’s with that? (more…)

Continue Reading

Success Advice

How My Forbidden Eminem Obsession Landed a Huge Writing Feature

You likely want to be featured on a website that is #1 in the country, or the world, in your industry.

Published

on

publicity
Created by Midjourney - Not Eminem

You likely want to be featured on a website that is #1 in the country, or the world, in your industry. (more…)

Continue Reading

Success Advice

Unlock Your Career Potential: How Programming Skills Can Boost Your Success

Coding skills don’t just enhance your employability – they also open the door to exciting entrepreneurial opportunities.

Published

on

coding skills
Image Credit: Midjourney

Programming is everywhere in our daily lives. It’s behind the take-out we order, the movies we stream, and many other actions we take. Tech companies don’t just make software; they deliver food, help us get taxis, influence elections, and even act as personal trainers. (more…)

Continue Reading

Success Advice

Copyright Tips Every Small Business Owner Needs to Know

Understand what can be copyrighted, how to use the copyright symbol, and steps to ensure your intellectual property is safeguarded.

Published

on

Copyright laws
Image Credit: Midjourney

The concept of copyrighting exists to protect the original work that a person or business has created. As a small business owner, understanding copyright law is essential, as you strive to safeguard your material and ensure you don’t incorrectly use material that belongs to someone else. (more…)

Continue Reading

Trending