Summaries Business and Entrepreneurship From Ulyanovsk to California: How Fazlyev Built a $500M Business with Ecwid and Lifehacker

This is a summary of a YouTube video "Фазлыев. Из Ульяновска в Калифорнию, Lifehacker и $500 млн за Ecwid" by Это Осетинская (Русские норм!)!

4.7 (45 votes)

Taking risks, investing in people and relationships, and challenging yourself are key to success in business.

• 🤝
  00:00

  Having a team of supportive friends is key to success in business.
• 🤩
  10:00

  Exploring different cultures and asking questions can help develop a better understanding of the world and make sense when choosing a place to live.
• 💪
  22:30

  Challenging yourself can help you succeed in a competitive market, but it's important to know when to take a break to avoid burnout.
• 🤝
  32:25

  Focus on mass market and serve millions of small businesses to capture maximum number of units and develop complex projects to serve large businesses for successful venture companies.
• 💡
  46:36

  Start your online store with ShapeFile to quickly grow your business and reduce risk with a backup plan.
• 🤔
  57:28

  After a failed business venture, a realization of freedom and the pandemic's effect on investors, plus the dangers of repetitive movements, a successful deal was closed with a 100% growth rate.
• 💰
  1:15:50

  Invest in people and relationships to maximize success and achieve great profits.
• 🤔
  1:28:59

  Take risks, make mistakes, and have realistic expectations to build a successful life in any country.

Detailed summary

• 🤝
  00:00

  Having a team of supportive friends is key to success in business.

  • It is important to hire people to cover your interests, as it is more important who you deal with than what the deal is.
  • I learned to program by reading books, but when I tried to apply what I learned, I found it difficult and realized that talent and perseverance are needed to succeed.
  • My parents moved to Ulyanovsk so I could get into a good university, and I passed the pre-exam and the main exam with top marks.
  • I passed the exam with 86 points and, with the help of my aunt, was able to get into a less prestigious university than I had hoped for.
  • I earned money by selling my work on a freelance portal, which was a surprise success.
  • Having a team of friends who can help you learn, do sports, and work on projects is an important component for starting a successful business.
• 🤩
  10:00

  Exploring different cultures and asking questions can help develop a better understanding of the world and make sense when choosing a place to live.

  • Earn up to 30% cashback and up to 5% interest per annum with Tinkoff Bank's Tinkoff Black Debit Card.
  • We built a platform in one day and the customer was impressed with our work.
  • We quickly changed our platform name to Export neatly and started pouring traffic to our domain, which was given to us by spoons.
  • We built our own office building, internet, and business components from scratch due to infrastructure business difficulties.
  • I moved to Cyprus to make payments work properly, as I was unqualified to move to most countries due to my lack of education.
  • Exploring different cultures and asking questions can help develop a better understanding of the world and make sense when choosing a place to live.
• 💪
  22:30

  Challenging yourself can help you succeed in a competitive market, but it's important to know when to take a break to avoid burnout.

  • Modern market leader Stefan is worth 140 billion dollars and has a 10x profit multiplier, while competitors have a 40x multiplier, making the market highly competitive.
  • Roy Rubin successfully sold his projects for millions, inspiring others to build and compete with the US.
  • We developed a product, Cortex, which was an analogue of Google Analytics, with live chat and video chat in a single package.
  • I wanted to start a business and have the opportunity to sell, so I took money and hired people with values to avoid being bought out by a bigger company.
  • Challenging yourself can help you find ways to work faster and more efficiently, but it is also important to know how to relax and restore energy.
  • Burnout is a syndrome caused by a lack of motivation and reward, and can be fought by reducing the size of targets and rewarding oneself.
• 🤝
  32:25

  Focus on mass market and serve millions of small businesses to capture maximum number of units and develop complex projects to serve large businesses for successful venture companies.

  • It is important to be the first to bring something to the market, but it is also important to make something that was previously unavailable available to people.
  • Two founders shared their shares in two companies, and it was important for investors to understand who was taken seriously.
  • Startups won first place in the Forbes Startup Competition in 2010 with a stone Pretty, winning a million rubles in adwords and the jury was Oleg Tinkov, who was surprised to find out there were only 30 paying users.
  • You need to understand what is necessary to build a successful venture company and make tough decisions to get investments.
  • Startups need to be patient for growth but have no tolerance for slow growth, as they need to grab the market before someone else does.
  • It is important to focus on mass market and serve millions of small businesses to capture maximum number of units and develop complex projects to serve large businesses.
• 💡
  46:36

  Start your online store with ShapeFile to quickly grow your business and reduce risk with a backup plan.

  • You don't need to be a genius to build an online store, as technology takes over and makes it simpler and more cost-effective.
  • We offer a product that is easy to use, fast, and can be integrated into any website, allowing for partnerships with other sites.
  • ShapeFile provides technology to help businesses fend off competitors and grow quickly, with a conversion rate of 3-7%.
  • We must grow quickly at home and in Europe to compete in the international market.
  • We tend to change our approach until we find something that works best for us, creating a life of randomness and change.
  • Entrepreneurs should always have a backup plan to reduce risk and understand the risks of any activity before taking part.
• 🤔
  57:28

  After a failed business venture, a realization of freedom and the pandemic's effect on investors, plus the dangers of repetitive movements, a successful deal was closed with a 100% growth rate.

  • The rules and laws in different countries are so layered that the corridor for freedom is very narrow.
  • Returning to Russia from Britain, a company was established to create a product, but a competitor flooded the market and the business was destroyed, leading to a realization of the concept of freedom and the happiest creative years of life.
  • The pandemic has changed the attitude of investors towards start-ups, making them more likely to invest in companies located within 50 miles of them.
  • Muscles and joints can be damaged from constant, monotonous movements, leading to carpal tunnel syndrome and other medical issues.
  • It is important to recognize early signs of pain and use anti-inflammatory medications after work to prevent further damage.
  • The market uncertainty volatility index was at an all-time high, but the deal closed with an aggressive approach, resulting in a 100% growth rate and almost no loss in profitability.
• 💰
  1:15:50

  Invest in people and relationships to maximize success and achieve great profits.

  • We have grown three times faster than Danone, and have achieved a slower growth rate due to a certain system, network effects, and investments from top funds.
  • Raising money with a lower valuation is better for future transactions, but you must show drive and ambition to attract investors.
  • The goal is to make the company the most massive solution commerce in the world by having the most stores on the platform.
  • It is important to recognize your own inclinations and act on them to maximize success in business.
  • Subscription technology can be rolled out quickly to enable creative manual labor with examinations that creep.
  • Investing in people and relationships can lead to great profits and a better quality of life.
• 🤔
  1:28:59

  Take risks, make mistakes, and have realistic expectations to build a successful life in any country.

  • Entrepreneurs should live their own lives and not rely on books to achieve success, as each case is unique.
  • Recruiting people with higher standards than others is necessary to break through the problems of the world.
  • Take a chance and make mistakes early to gain independence and experience for a successful future.
  • People need to understand that having adequate expectations, they can build their lives in any country, and not be fooled by the illusion that somewhere else will be easier.
  • Russia has unprecedented access to functioning vaccines, making it easy to bring to most places, and its culture of leviathan and foolish optimism is the root of its success.
  • Try writing a book and see if you can play the violin.