Tag Archives: blockchain

I was in San Juan, Puerto Rico last week for Disrupt Week  .  It is a gathering of all things tech, startup enthusiasts, entrepreneurs, influencers, digital nomads, blockchain, coders, marketers, and creators.

I was lucky to sneak in some time with investor Jennifer Hopp.  She is a successful entrepreneur turned investor from Silicon Valley.  She relocated to Puerto Rico out of her passion to help build up the economy after Hurricane Maria in 2017 by fostering the emerging tech/startup ecosystem.  She is using her talents to play a big role in the community and mentor the young entrepreneurs.

We shot this video in Old San Juan which has an old iconic feel with it’s vibrantly colored buildings and weathered down cobblestone streets.  She had some great advice for entrepreneurs on product market validation, raising money, selling to your ideal customers and tips on how she stays fit while running not just one but multiple companies.  To me that’s the true sign of success when someone prioritizes the things that truly matter (health, relationships, giving back) in their life while still hustling hard to create their impact in the world.  Unfortunately most people are so fixed on being successful in business and economics, even if they achieve it they do it at the sacrifice of their health and relationships.

Here are some key takeaways from Jen’s talk:

 

On Deciding Whether you Have a Good Idea

Test ideas before investing time and money on it

Before talking with investors make sure it works on paper first!

If it doesn’t work on paper it’s probably not going to work in reality 🙂

You want revenue to exceed cost

Unit by unit basis price of product needs to be higher than cost.  Rule of thumb price is at least 2x more than cost.  (while this seems obvious and simple Jen sees smart people get stuck on this a lot!)

Find your target customer.  How many of them exist?  Get your product in front of them and get feedback from your market and see if they will buy it and recommend it to their friends!

 

On Raising Money From Investors

Understand who the investor is.

Investors are people just like you.

Investors aren’t in it just to make money.

Understand what motivates them.

What feeling are they going after?

 

How Jen Stays Fit While Running Her Companies 

Don’t have time?  Take a deep breath.  Pretend you had a flat tire.  What would happen?

You will figure it out.  At end of day nobody will be upset with you.

1. We often pack our schedules with things that are unnecessary

2. We don’t leave enough gaps in our time for ‘flat tires’.  Carve out time – an extra hour a day.

3. We don’t recognize the world is still going to go on without us.

Working out is productive time.  Ideas come when she works out.  Brain shifts and becomes more creative

always flexibility.  So while most people think taking time away from sitting in front of the computer/doing direct work-related activities is a negative, Jen sees working out as a productive activity because it gives her the ability to solve problems and see things in more creative ways.

Set a plan and execute on it as much as you can AND be flexible and use guidelines. FLEXIBILITY is key!

Jen prefers a high protein diet based on what her body tells her.

Set yourself up for success.  Doesn’t allow saturated fat or sugar in her house so she isn’t tempted.

Enjoys her cheat meal once in a while!

 

Connect with Jennifer Hopp

Instagram

BizStart.Live

 

Hope you enjoyed this!

Comment below on a key takeaway!

Best comment gets a free gift!

 

I had the chance to sit down with Cody Hoffman and glean some insights about blockchain.  He was trader at JP Morgan and is currently the founder of Funder, a company that uses blockchain technology to help charities raise A LOT more money for their causes.

You’ve probably heard about the blockchain by now.  It is a revolutionary technology that is quickly transforming the way companies operate and business all around the world is being done.  Many prominent people in business and technology have been quoted as saying it is the next version of the internet and even beyond that!

So if you feel like you’ve missed out on the internet boom now is your chance to educate yourself for the amazing opportunities that lay ahead!

To give some more understanding about why it is such a game changer here are some of the key takeaways from Cody:

Blockchain is a decentralized public ledger.  This means there is not one organization that has complete control over the system.  The data is literally stored amongst millions of computers all over the world and everyone has access to it.

It is a place where everyone can see every transaction that happens.  This is why cryptocurrencies have been such a big deal as well.  It eases transactions and totally removes the issue of trust.  You don’t have to trust people and you can still be 100% certain about the transaction being executed.

The data is secured by computers, not by people.  This makes everything much more reliable.  Cody likes to say it is, “the invention of triple entry bookkeeping.”

Reduces paperwork.  Jobs will be lost, time will be saved and there will be less errors in bookkeeping/data entry.  The good news about the job losses is that people will be left to think about bigger things, focus more on creative projects and solving bigger problems!

When it comes to allocating an investment portfolio in cryptocurrencies Cody has his set up where 50% is in bitcoin as it has the best technology supporting it and is the leading indicator for the space.  If you are interested in allocating in other coins he advises you choose the protocols you’d like exposure to (i.e. gaming, social causes) and dollar-cost average into the leading coins in each vertical.

What do you think about blockchain and how it is impacting the world?  Leave a comment below!

I’ve been getting my feet wet in the crypto world.  I invested a small amount that I am willing and able to totally part with if anything happens in the volatile world of cryptocurrency and blockchain.  I hesitate to even call it investing as cryptocurrencies are highly speculative and pretty much nobody knows much about it.

So why would I get into this?  Because I believe in the blockchain technology behind it and I also enjoy watching the markets and trading from time to time.  Bitcoin could be worth $100,000 one day or it is highly possible bitcoin and all the alt coins get totally wiped out in the next few years.

I’m not a registered investment advisor so take this all with a grain of salt, along with anyone else you talk to.  Even a professional because everyone’s advice is filtered through their beliefs and values so you need to do what is in line with your own beliefs and values.  Most investment advisors would not even talk with you about cryptocurrencies as even Warren Buffett thinks it is a big waste of time.  If the Oracle of Omaha is against crypto that is a big red flag and has swayed a lot of my own optimism about it.

Despite all this I still choose to play in the crypto world for the reasons I mentioned above.  For people who do want to get into crypto the first place most get started is with Coinbase.  It is an online platform that brokers exchanges of the main cryptos Bitcoin, Bitcoin Cash, Ethereum, and Litecoin and has over 13 million users.  From there if you want to get into alt coins and make trades there are other exchanges that have access to more coins.  Three of the top ones are Global Digital Asset Exchange (GDAX – a product of Coinbase), Bittrex and Binance.  The one I use is Binance.

Here’s how I transfer funds from my Coinbase account to Binance so I can make trades with other coins:

 

FIRST

Go to your Coinbase account and then at the top of your screen select accounts.

If you’re on mobile then Accounts will be at the bottom of your screen.

 

SECOND

Choose the cryptocurrency that you want to send from your wallets.

 

THIRD

Now you have to enter the address that is found in your Binance account.

If you’re on mobile tap on the little paper airplane icon on the top right hand side of your screen.

Then enter the amount you want to send.

To find this address go into your Binance account

Select funds at the top of your screen (or at the bottom if you’re on mobile) and then tap on deposits withdrawals.

On mobile it’s just Deposit at the top.

Tap on deposit on the cryptocurrency you’re transferring and then get the deposit address.

 

FOURTH

Enter the deposit address that you just got right under recipient in your Coinbase.

Choose the amount you want to send.

On mobile add the address that you just got and then hit send and you’re done!

 

FIFTH

Hit continue and make sure to check all the details of the transaction and then complete the send.