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

Joel Brown (Founder of Addicted2Success.com)

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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.

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The 4 Pillars of Wealth and Abundance

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Have you ever wondered what the formula for a wealthy and abundant life is? Many people have. Lots has been written about the subject of wealth creation and living an abundant life. It was a breaking point in my journey and pursuit of success when I found out that there is a clear path to achieve success in life. Thanks to those who have shared their journey, we can clearly see and follow the principles of prosperity. (more…)

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Here Are 4 Reasons Why You Should Have a Podcast, Youtube Channel or Online Show

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Confidence comes from a place of strong understanding of self. After close to three years on radio, I’ve grown from a shy introvert to a shy introvert with an extrovert persona. When the mic is turned on, I can channel a version of myself that some say is attractive, strong, and of course, confident but it wasn’t always this way.

What I want to share with you is what I discovered on this journey into broadcast that you can apply to your life, your ventures, and your personal development. This doesn’t require any fancy gear. It does require a leap of faith on your part because once you go down the road of media; it can change your life.

1. Perceived Expertise

When you go to a doctor, you expect their knowledge will guide them to a solution to your problems. When you have a show, you become your listeners’ doctor. For all the multiple thousands, maybe millions, of YouTube channels, podcasts, and user-created content in the world, each person that gets behind a mic takes a position on their passion, their opinions, and their themes.

They challenge the status quo for the benefit of their listeners in hopes to entertain and educate. With consistency on your side, those fans place you on a platform and give you permission to influence them.

2. Global Acknowledgement

One of the benefits to increasing confidence is when you receive thank you notes from people you may never meet. The feeling of enriching someone’s life from halfway around the globe, provides validation you’re enhancing someone else’s life with your wisdom and your wit.

The very first time I was told I was making a difference in someone’s life in a country other than my own, I felt like I caused massive impact that transcends my circle of influence. When you experience just how much you can cause impact and it comes back to you, it’ll change your worldview.

“Be grateful for what you have and stop complaining – it bores everybody else, does you no good, and doesn’t solve any problems.” – Zig Ziglar

3. Backed By Numbers

One of the most exciting ways to measure success is to quantify your growth. It’s not enough to just broadcast. Having subscribers and downloads helps to know, numerically, how well you’re doing. Word of caution. This can be a way to set yourself up for distress because of number envy but if you understand what the numbers mean; you can control the narrative of the numbers.

The major number that makes most people smile is 10,000. I’d advise it to be 1. Here’s why. As you grow in your industry, so does your reach. If you learned that the one person that subscribed totally changed for the better because of you, wouldn’t that be worth the effort?

4. Effective Communication

While it’s not talked about much, having a show is documentation. You create a dynamic account of your life, your industry, and the pulse on what’s important simply by having a show. When you find a channel to improve your communication skills, you demand attention and people will listen to you. You become more trusted as a leader and people will follow you once they believe you can lead them to their wants and needs.

“To effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others.” – Tony Robbins

These insights have helped many people become leaders and, ultimately, move others to their best selves. It’s worked for me and I hope it works for you. At the end of the day, it’s all about showing up and showing out.

Have you ever thought about having a radio show? If so, what would you talk about? Let us below!

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7 of the Biggest Enemies Stopping You From Success

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Everyone wants to be successful. It is a thing we all wish for. We want to achieve mind-blowing success. However, the road to success is not so easy. And the funniest part is, you are the one to determine whether you become successful or not. (more…)

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The Key to Success: Understanding and Constructively Using Our Influence

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All humans strive for success, although not all of us think about success in the same way. Yes, there are many stereotypical views of success and sometimes these views can get in the way of individuals realizing that they actually have already achieved it. (more…)

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