hi I’m Evan Carmichael welcome to
another edition of Molly no masters I
believe that the fastest and most
effective way to grow a business is the
model the strategies of people who’ve
already done what you’re trying to do so
today we’re going to look at how two
friends wanna come in from a
middle-class background one coming from
immigrant from Taiwan join forces
believe they could do something great
created a company and eventually sold if
1.65 billion dollars this is a story of
Chad Hurley and steve chen from youtube
and the top three lessons that you can
learn from their success steve chen and
chad hurley joined forces to build
youtube com a social video site that
sold to google for reported 1.65 billion
dollars these two friends met while
working together a paypal com they hit
it off and would begin spending a lot of
time together discussing their business
ideas however it wasn’t until ebay
purchase paypal for 1.5 4 billion that
they both would decide to follow their
dreams upon the sale of paypal the ebay
both China and Hurley would receive
large bonuses they decided to use their
money to create their own venture with
trans engineering skills and Hurley’s
creativity they thought they had the
right mix to form a company together
they really had no idea about what type
of business to create but felt it
together they could create something
monumental in january 2005 Hurley and
Chen attended a friends dinner party in
San Francisco they had taken a few
digital videos of the event and wanted
to share them with each other the next
day it could not find a good way to do
it the files were too big to email and
posting them online would take hours
with that early and China had their
first idea for sustainable business
using the money they had received from
the paypal buyout chenin Hurley decided
to create YouTube to make uploading and
sharing videos online as easy as anyone
could want
by teaming up and leveraging each
other’s strengths and complementing each
other’s weaknesses shannon hurley were
able to go on to build a company that
itself 1.65 billion dollars to help you
build your company here are three action
items you can learn from Chen and Hurley
action item number one build an
experienced many successful
entrepreneurs today are focusing on not
just creating a great product or service
the building an experience for their
customers make it easy for people to do
business with you and a lot of them to
feel like they are part of something
bigger the notch is buying from you
they’re part of a movement before
YouTube came along online videos were
nothing new the presence on the internet
had been growing I’ll be it slowly they
will come with him to upload while
Sharon and watches improved even more
difficult few people had the patience or
the desire to wait out the process this
is what shannon hurley wanted the change
the experience of people wanted to share
videos with each other they decided the
best way to do this was to make it
easier for people to share what they
wanted to see according to chenin Hurley
I see her service as one has been needed
for a long time the pieces to make it
all happen just weren’t in place until
we came around we needed it to be a
no-brainer we allow the community to
tell us what was entertaining them when
we started this company a few years ago
we never expected to be here it’s
interesting how the simple idea
improving our own video experience
online turned into this akshardham
number to make the business unique if
you want to send out for your
competitors and compete against the big
brands in your industry you need to find
a way to be unique you have to offer
something different in a creative way
and make potential customers care about
it if you sell the exact same product as
everyone else and provide the exact same
service you’re not going to get people
talking and be excited to work with you
chennin Harley knew that they had to
create something unique to make people
use their website one of YouTube’s major
advantages without they allowed
everybody to upload videos of themselves
it didn’t have to be professionally
edited and they could easily share it
with their friends but made YouTube
unique was that they made it easier than
ever before to share a quick video of
your mother’s birthday or your brother’s
wedding you didn’t have to be a
technical genius to use their system and
that helped the service go viral
according to chenin Hurley what our
users want is to watch themselves they
don’t want to watch professionally
produced content there are so many
people with cameras that have the
opportunities to create their own
content and so many more people with
editing tools to tell their stories we
feel this is just a tip of the iceberg
we’re building a community and we don’t
want to bombard people with advertising
action item number three focus on the
customer if you focus on your customer
they’ll take care of your business
success get close to them understand
what they really need and get their
feedback on what you can do to be better
businesses that form around customer
problems are more likely to succeed and
are more likely to adopt changes when
the economy dips from day one of
YouTube’s Hurley and Chan have
reaffirmed their commitment to creating
the best possible service for their
customers even when that came at the
expense of the revenues they are not
simply compassion businessman how to
make people happy instead of making a
dollar instead they see user
satisfaction as necessary for long-term
success they believe that every
successful business must start and
listen to their customers and focus on
the customers wants according to chenin
Hurley if we wanted to we could have
instantly turned this into a 10 million
dollar in revenue business per month are
running pre-rolls on the videos but at
that same time we’re going to make sure
that whatever revenue model we’ve built
is going to be something that’s accepted
by the users we’re not in a hurry we’re
interested in building our community
we’re trying to improve discovery we’re
trying to improve the experience for
people on our site
so remember build an experience make the
company unique and focus on the customer
to finish up this video I wanted to
share order my favorite true stories
about the YouTube guys and some of their
best quotes after the dinner party that
gave Chen and Hurley the business idea
for YouTube they wanted a simple way to
share their videos of the night so they
immediately went to work on creating the
answer they witnessed a massive growth
of sites such as myspace I wondered how
they get leverage that growth to their
advantage instead of building their own
social networking site Hurley and China
wanted to take advantage of those that
were already out there to that end they
made it easy for members of those sites
to embed YouTube videos on their pages
they work with those companies that were
already out there instead of trying to
go against them by following this
strategy chennin Hurley found it easier
to build upon their idea and her company
began to take off
you
you
you
thank you for joining me for another
edition of all in the Masters if you
like the video and you want to see more
please give it a thumbs up below I’d
also love to hear you have to think
about the video if you liked it if you
didn’t like it leave a comment
underneath the video and we’ll see you
on the next episode
you
another edition of Molly no masters I
believe that the fastest and most
effective way to grow a business is the
model the strategies of people who’ve
already done what you’re trying to do so
today we’re going to look at how two
friends wanna come in from a
middle-class background one coming from
immigrant from Taiwan join forces
believe they could do something great
created a company and eventually sold if
1.65 billion dollars this is a story of
Chad Hurley and steve chen from youtube
and the top three lessons that you can
learn from their success steve chen and
chad hurley joined forces to build
youtube com a social video site that
sold to google for reported 1.65 billion
dollars these two friends met while
working together a paypal com they hit
it off and would begin spending a lot of
time together discussing their business
ideas however it wasn’t until ebay
purchase paypal for 1.5 4 billion that
they both would decide to follow their
dreams upon the sale of paypal the ebay
both China and Hurley would receive
large bonuses they decided to use their
money to create their own venture with
trans engineering skills and Hurley’s
creativity they thought they had the
right mix to form a company together
they really had no idea about what type
of business to create but felt it
together they could create something
monumental in january 2005 Hurley and
Chen attended a friends dinner party in
San Francisco they had taken a few
digital videos of the event and wanted
to share them with each other the next
day it could not find a good way to do
it the files were too big to email and
posting them online would take hours
with that early and China had their
first idea for sustainable business
using the money they had received from
the paypal buyout chenin Hurley decided
to create YouTube to make uploading and
sharing videos online as easy as anyone
could want
by teaming up and leveraging each
other’s strengths and complementing each
other’s weaknesses shannon hurley were
able to go on to build a company that
itself 1.65 billion dollars to help you
build your company here are three action
items you can learn from Chen and Hurley
action item number one build an
experienced many successful
entrepreneurs today are focusing on not
just creating a great product or service
the building an experience for their
customers make it easy for people to do
business with you and a lot of them to
feel like they are part of something
bigger the notch is buying from you
they’re part of a movement before
YouTube came along online videos were
nothing new the presence on the internet
had been growing I’ll be it slowly they
will come with him to upload while
Sharon and watches improved even more
difficult few people had the patience or
the desire to wait out the process this
is what shannon hurley wanted the change
the experience of people wanted to share
videos with each other they decided the
best way to do this was to make it
easier for people to share what they
wanted to see according to chenin Hurley
I see her service as one has been needed
for a long time the pieces to make it
all happen just weren’t in place until
we came around we needed it to be a
no-brainer we allow the community to
tell us what was entertaining them when
we started this company a few years ago
we never expected to be here it’s
interesting how the simple idea
improving our own video experience
online turned into this akshardham
number to make the business unique if
you want to send out for your
competitors and compete against the big
brands in your industry you need to find
a way to be unique you have to offer
something different in a creative way
and make potential customers care about
it if you sell the exact same product as
everyone else and provide the exact same
service you’re not going to get people
talking and be excited to work with you
chennin Harley knew that they had to
create something unique to make people
use their website one of YouTube’s major
advantages without they allowed
everybody to upload videos of themselves
it didn’t have to be professionally
edited and they could easily share it
with their friends but made YouTube
unique was that they made it easier than
ever before to share a quick video of
your mother’s birthday or your brother’s
wedding you didn’t have to be a
technical genius to use their system and
that helped the service go viral
according to chenin Hurley what our
users want is to watch themselves they
don’t want to watch professionally
produced content there are so many
people with cameras that have the
opportunities to create their own
content and so many more people with
editing tools to tell their stories we
feel this is just a tip of the iceberg
we’re building a community and we don’t
want to bombard people with advertising
action item number three focus on the
customer if you focus on your customer
they’ll take care of your business
success get close to them understand
what they really need and get their
feedback on what you can do to be better
businesses that form around customer
problems are more likely to succeed and
are more likely to adopt changes when
the economy dips from day one of
YouTube’s Hurley and Chan have
reaffirmed their commitment to creating
the best possible service for their
customers even when that came at the
expense of the revenues they are not
simply compassion businessman how to
make people happy instead of making a
dollar instead they see user
satisfaction as necessary for long-term
success they believe that every
successful business must start and
listen to their customers and focus on
the customers wants according to chenin
Hurley if we wanted to we could have
instantly turned this into a 10 million
dollar in revenue business per month are
running pre-rolls on the videos but at
that same time we’re going to make sure
that whatever revenue model we’ve built
is going to be something that’s accepted
by the users we’re not in a hurry we’re
interested in building our community
we’re trying to improve discovery we’re
trying to improve the experience for
people on our site
so remember build an experience make the
company unique and focus on the customer
to finish up this video I wanted to
share order my favorite true stories
about the YouTube guys and some of their
best quotes after the dinner party that
gave Chen and Hurley the business idea
for YouTube they wanted a simple way to
share their videos of the night so they
immediately went to work on creating the
answer they witnessed a massive growth
of sites such as myspace I wondered how
they get leverage that growth to their
advantage instead of building their own
social networking site Hurley and China
wanted to take advantage of those that
were already out there to that end they
made it easy for members of those sites
to embed YouTube videos on their pages
they work with those companies that were
already out there instead of trying to
go against them by following this
strategy chennin Hurley found it easier
to build upon their idea and her company
began to take off
you
you
you
thank you for joining me for another
edition of all in the Masters if you
like the video and you want to see more
please give it a thumbs up below I’d
also love to hear you have to think
about the video if you liked it if you
didn’t like it leave a comment
underneath the video and we’ll see you
on the next episode
you
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