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Deep Dive with Ali Abdaal

How To Start A Business In 48 Hours - Noah Kagan

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Noah KaganguestAli Abdaalhost

Jan 30, 20241h 27mWatch on YouTube

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CHAPTERS

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Chapter summaries

Who Noah Kagan Is and How He and Ali Met
Noah introduces himself, covering his path from Intel and Facebook to Mint and AppSumo. He and Ali recall how they connected through a team member who sent Noah Ali's channel.
- •Noah's career: Intel, number 30 at Facebook, number four at Mint, then AppSumo
- •AppSumo promotes software deals for solopreneurs and expects around $80 million in revenue, bootstrapped
- •Noah now runs a YouTube channel for underdogs and has written Million Dollar Weekend
- •Ali and Noah connected after Noah's teammate Mitchell sent him Ali's channel
The Million Dollar Weekend and Why People Don't Start
Noah explains that the book grew from a 2011 viral blog post on Tim Ferriss's site. He argues that despite abundant content, two fears hold people back: the fear of starting and the fear of asking.
- •The title comes from a blog post on starting a million-dollar business in a weekend
- •Noah wanted a book for starting without funding, time or money
- •Two fears block most aspiring founders: starting and asking
- •Overcoming them makes the business side, such as validating ideas and market size, much easier
- •'Now not how' is one of the book's big takeaways
Overcoming the Fear of Asking: Coffee and Rejection Challenges
Ali admits he never managed to ask for a discount at Starbucks because he fears rejection. Noah reframes asking as offering something good, recommends the coffee challenge, and suggests setting rejection goals so it becomes a game.
- •Ali says he fears rejection and coming across as a nuisance
- •Noah says people fail in business because they can't get comfortable asking and being rejected
- •Asking can be reframed, such as asking Notion for a sponsorship that helps them
- •Noah still does small asks, like requesting a free hotel upgrade
- •Rejection goals, such as getting rejected 10 times, turn asking into a game
Reframing Selling as Helping with the LOT Formula
Ali raises his fear of selling, and Noah says he thinks of selling as helping. He walks Ali through a mock sale using the listen, options, transition formula and explains how to handle brush-offs.
- •Noah views selling as helping, since he believes in what he promotes
- •LOT stands for listen, options, transition
- •Listening uncovers the customer's real problem and what a solution is worth to them
- •Vague responses like 'send me more info' are a rejection to probe politely
- •Telling someone a product isn't right for them is as powerful as making the sale
Asking in Action: Private Jets, First Class and Jake's Golf Trips
Noah shares examples of asking leading to outcomes, including getting a private jet flight to Boston and approaching first-class passengers. He tells of Jake, who finally called a prospect and was surprised by their enthusiasm.
- •Noah stood outside a private airport for about 10 minutes and got a flight to Boston
- •People are often friendlier than the script we imagine in our heads
- •Jake, who had put off a golf trip business for two years, called a prospect and found a friendly buyer
- •Where people are and where they want to be is closer than they think, but they have to start
The Fear of Starting and the Freedom Number
Ali asks about the fear of starting. Noah says most people tell themselves they're not ready or lack an idea, and introduces the freedom number, the income at which you could quit your job.
- •Common stories are 'I'm not ready' and 'I have nothing to talk about'
- •Success can be small, like a 'grocery-naire' or $100 for a nice meal
- •Noah's freedom number was $3,000 a month, while Ali's was $10K to take a break and $100K to quit
- •The number needed for freedom is often smaller than people assume
Why Everyone Should Be an Entrepreneur
Noah argues that entrepreneurship is the best investment, with unlimited upside compared to stocks, real estate and bonds, and the best way to learn about yourself. He defines an entrepreneur as someone who creates, and argues that even people with day jobs benefit from having their own option.
- •Noah compares returns on stocks, real estate, T-bills and bonds with unlimited entrepreneurial upside
- •Starting a business is also the best way to learn about yourself and build courage
- •An entrepreneur is simply someone who creates, even if it's $100 a month from cookies
- •Day jobs are not safe, since companies can let you go at any moment
- •Having your own side venture gives you control if things go wrong
The Law of 100 and Sticking With It
Noah explains the law of 100: commit to 100 days, videos, emails or calls to avoid quitting too soon, citing his own early exit from podcasting. Ali shares how his first 100 YouTube videos led to viral growth.
- •Most people quit too soon, as Noah did after about 40 podcasts
- •Pick a small daily action, like one call, post or email, and repeat it 100 times
- •Ali's growth came late: 1,000 subscribers at video 52, with viral videos around 82 and 93
- •Noah's first YouTube video was shirtless in his room and got 300 views
'Now Not How' and Being Grateful to Your Past Self
Noah says the top takeaway from beta readers is the now not how mindset. Ali describes waiting seven years to make his first video, and both discuss asking what your future self will thank you for and how confidence is built through reps.
- •Beta readers named 'now not how' as their biggest takeaway
- •Ali waited seven years to start YouTube because he wanted the perfect setup
- •Ali says nearly everything good in his life followed from starting the channel
- •Noah suggests asking what your five-years-from-now self will be grateful for
- •Confidence is domain-specific and comes from practice
Can Money Buy Happiness? Experiments and Enough
Ali challenges Noah's hot take that money can buy happiness. Noah describes testing wealth through experiments like renting a Malibu house and a Lambo, and he and Ali discuss when enough is enough, including Noah's slower growth goal for AppSumo.
- •Noah says he believes money can buy happiness and tested it by renting houses and a Lamborghini
- •Money gives him time freedom, such as staff help once he has a child
- •Ali notes that the unattainable can feel unwanted, and wonders whether he's afraid of bigger goals
- •AppSumo aims to grow 7% next year, and Noah says less ambitious goals bring more freedom and creativity
- •Both think the old $70K happiness plateau is wrong and that the real plateau is a few million
Noah's Income Journey and What Actually Changed
Asked about the income levels that changed his life, Noah says he was miserable until about 40 and that his mentality changed more than his circumstances. He lists his salaries over time and explains why $3 million in cash made him feel secure.
- •Noah says life is already great and the person you are is close to the person you want to be
- •His salaries ran from $55K at Intel to $300K, then zero when he started his company
- •About six years into AppSumo he began paying himself half a million, later one to three million in good years
- •He felt secure only with $3 million in liquid cash, influenced by his father losing his business
- •Noah says most people worrying about 10 million aren't yet getting their first dollar
59:02 – 1:04:49
Thinking in Experiments
Ali describes running experiments, like part-time medicine versus YouTube, and testing which spending actually improves his happiness. Noah says experiments take the pressure off failure, and Ali recounts his years of failed business ideas before one stuck.
- •Ali's part-time medicine experiment showed him he didn't enjoy it
- •He experiments with whether spending more, such as hotels versus Airbnb or flight upgrades, improves happiness
- •Framing ventures as experiments reduces the sense of being a failure
- •Noah says the most successful people have experimented the most
- •Ali tried many ideas from ages 13 to 19 before his courses business and YouTube worked
Writing the Book: Rejection, Hiring 10,000-Hour Experts and Beta Testing
Noah tells the book's origin story, from an agent's rejection to hiring experts like David Moldawer and Tal Raz. He describes his insecurity about whether the book could help people, which led to a large beta team that tests the book every weekend.
- •Noah suggests buying or copying other people's 10,000 hours by hiring experts
- •An agent rejected his first proposal, and he treated it as a test of whether he wanted it
- •He hired David Moldawer for the proposal and cold-emailed Tal Raz to co-write the book
- •Noah admits he was afraid and insecure about whether the book could help people
- •A beta team of 1,200 people tests chapters, and every weekend five people go through the process on WhatsApp
Becoming a Father and Prioritizing Relationships
Noah says impending fatherhood changed his approach 180 degrees, giving him admiration for mothers and a sharper sense of time. Ali shares how he is choosing relationships and health over work.
- •Noah has more respect for pregnant working mothers
- •He wants priorities and behavior aligned, and plans to finish work on time
- •He describes a 'pregnancy hack' of being selective with time as if you had a family on the way
- •Entrepreneurship lets him take a longer parental leave
- •Ali is choosing to skip a sponsored video for a loved one and spending on an Uber to see his mom
Life Decades, Advice for Turning 30, and Making Exercise Fun
Noah describes his 20s, 30s and 40s, and emphasizes patience and being generous with yourself. Asked for advice for his 30s, he answers 'put on sunblock', which leads into starting small habits and making exercise fun.
- •Noah describes his 20s as grinding and uncertain, his 30s as finding work he liked, and his 40s as calm
- •He highlights patience and generosity to yourself and others
- •The sunblock advice illustrates starting something small and sticking with it
- •Noah encourages finding exercise that is fun, like cycling, boxing and squash
- •Accountability partners and coaches can help, and Ali works with a fitness coach
Wrapping Up and the Book Resources
Noah points listeners to a free resource page with templates and step-by-step material from the later parts of the book. He and Ali close by encouraging people to face the hard thing, and noting that others want to help you succeed.
- •Noah says they didn't cover picking, scaling or growing business ideas
- •A free page at milliondollarweekend.com/aliabdaal offers templates and resources
- •Noah says people should face the hard thing they are avoiding
- •People want to see you succeed and are willing to help

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