Python for Entrepreneurs Transcripts
Chapter: Welcome to the course
Lecture: Welcome and thanks for coming
0:01 Hello and welcome to Python for Entrepreneurs.
0:03 We are so excited and honored that you are taking our course.
0:06 We can't wait to help you build your online business.
0:08 Now, before we get to all the mechanics of what we are going to cover,
0:11 what you need for the course, how to connect to this database or that,
0:15 let's just talk briefly about why right now is the best time to start an online business.
0:20 It's easy to get nostalgic and look back and say
0:23 well, twenty years ago things were so much easier,
0:25 I just started like look at the companies that exist now.
0:28 But I am going to show you that yesterday was not as golden as we think it is.
0:32 It's also easy to say well, I've just got to wait,
0:35 now is not really the right time to get started,
0:38 and if I just put it off for another two years all these thing will fall into place
0:42 and I'll be ready to roll- I don't think so. I think the right time to start is now.
0:46 You build a base, even if you just started as a side business and let it grow,
0:50 let it mature and build it up over time and you are going to have something amazing.
0:54 What did it take to build a business before the internet, an actual physical business,
0:58 with things made of atoms, rather than bits?
1:01 Well, you would probably run full page ads in expensive magazines like this,
1:06 here is an ad from 1968 when Chevy was advertising their brand new cars.
1:10 Whether you were starting a car business or something on main street,
1:14 it is hard to get started on these types of business.
1:17 The startup costs were probably millions, the time to get started
1:21 is maybe a year if you are fast, it's really hard to get started,
1:25 the barrier to entry is quite high; and the even so,
1:27 the profit margin this companies make is quite low.
1:30 So General Motors just had a record breaking year for profit margins,
1:34 and it put them way up in the stratosphere at 6%, that is not very high
1:38 but there are many businesses like gas stations
1:43 and stuff that make like .3, .2% profit margin.
1:46 It's extremely hard to work with that little bit of extra revenue,
1:50 so maybe these physical businesses were not the way to go,
1:53 maybe it was the .com boom days, back in the late 1990s, early 2000s
1:58 that we should have started our business.
2:00 I think venture capital was more accessible
2:03 at least you didn't have to prove so much to get it,
2:05 if you'd create a web site with a crazy idea maybe the people gave you money,
2:08 but to actually get started for most folks was really hard.
2:11 I recall in 1998 going to a workshop type thing,
2:15 put together by a couple of software and hardware companies working together
2:19 and their goal was to show us how easy it was to build an e-commerce site in 1998,
2:23 and they said look, all you are going to need is this load balancer, this SSL accelerator,
2:27 these kinds of connections in your data center,
2:29 this special hard drive, and they said, in the end,
2:32 it's just going to take you only a 100 000 dollars to get started.
2:35 I think we could have thrown away some of their software
2:38 and get started from maybe 50 000, but still, that is a pretty high barrier to entry.
2:42 This isn't something you just spend up on the side because you have a great idea,
2:46 it also takes a while to get all those things in place,
2:49 set up the load balancer, set up the server, set up the software on them,
2:53 but not just that- connecting the things like credit card systems used to be way harder.
2:57 While starting a business in a .com day was easier than before,
3:02 it's not maybe as easy as we might remember.
3:04 what does it take to start an online digital business today?
3:07 Let's look inside my business.
3:10 The one that you've probably bought this class from.
3:12 So I started Talk Python Training in the early part of 2016,
3:17 and I went back and I did some math to figure
3:19 how much I spent in time and money to get things started.
3:22 It cost me 346 dollars in materials, in hosting,
3:26 and domains and SSL certificates, to get started, that's it.
3:31 I built the entire website with the e-commerce capabilities,
3:35 the email account management, video delivery, everything in 2 to 3 weeks, that's it.
3:41 After that, I launched the first product on Kickstarter
3:44 and within 2 months was making solid money.
3:47 That is a very, very different picture than even the .com days.
3:51 And yet factoring this out over time, my profit margins are running at 93%.
3:55 I am telling you, right now is a golden time to get started,
4:00 and throughout this course, I am going to give you a look inside of my business,
4:03 Talk Python Training and the podcast,
4:06 and Matt Makai is going to give you a look inside the Full Stack Python.
4:09 So you are going to have two real world examples
4:12 of how we have started a business that to some degree or other
4:15 is standing out and succeeding.
4:17 Now it's not all rainbows and unicorns,
4:20 there are more challenges in other areas today.
4:23 Almost because it's easier to get started you'll see the competition is tough,
4:27 so let's just go back ten years if you could pass the technical barriers,
4:31 put money up front to get started, and get things up and running,
4:35 chances are you would be running in a pretty thin pack,
4:38 competition existed but it wasn't so tough, it wasn't so hard to get the word out.
4:43 However, zoom forward ten years to today,
4:46 and it looks more like this- even if you are building a business that is unique,
4:50 it's still really hard to get the word out,
4:53 so the technical chops to build the business is not enough.
4:57 That's why in this course we are also going to talk about SEO,
5:00 growth hacking, the things you need to stand out and break free of this dusty pack.
5:04 All right, competition now withstanding, I hope you are excited to get started
5:08 because it is a golden time to start a business,
5:10 and we are both super excited to share our story and our techniques with you.