Key Takeaways
1. Build a business that makes you happy, not just profitable
When you make a company, you make a utopia. It's where you design your perfect world.
Follow your passion. Creating a business isn't just about making money; it's about crafting a world that aligns with your values and brings you joy. Derek Sivers built CD Baby not because he wanted to be an entrepreneur, but because he wanted to help his musician friends sell their CDs online. This passion-driven approach led to a successful business that he enjoyed running.
Define your own success. Resist the pressure to conform to traditional business models or growth expectations. Sivers often turned down investors and kept CD Baby small intentionally. He prioritized customer satisfaction and his own happiness over rapid expansion. This approach allowed him to maintain control over his company's direction and culture.
- Focus on what makes you happy in business
- Define success on your own terms
- Don't be afraid to go against conventional wisdom
2. Start small and focus on serving your customers
Success comes from persistently improving and inventing, not from persistently doing what's not working.
Begin with minimal resources. Sivers started CD Baby with just $500 and a simple website. He didn't wait for perfect conditions or significant funding. Instead, he focused on solving a real problem for musicians and continuously improved his service based on customer feedback.
Prioritize customer needs. Rather than trying to impress investors or follow industry norms, Sivers concentrated on making his customers happy. He created policies that favored musicians, such as paying them weekly and never removing their music from the catalog. This customer-centric approach built trust and loyalty, driving organic growth through word-of-mouth recommendations.
- Start with what you have and improve incrementally
- Focus on solving real problems for your customers
- Let customer satisfaction drive your growth
3. Embrace mistakes as learning opportunities
No plan survives first contact with customers.
Accept imperfection. Sivers made numerous mistakes while building CD Baby, from accidentally selling 90% of his company to his father's business to overly empowering his employees. Instead of letting these setbacks discourage him, he used them as valuable learning experiences.
Adapt and improve. When faced with challenges, Sivers consistently chose to adapt and find solutions. For example, when he realized he had lost control of his company's profit-sharing program, he didn't give up. Instead, he refocused on improving the software and finding a way forward.
- View mistakes as opportunities for growth
- Be willing to change course when necessary
- Learn from failures and use them to improve your business
4. Delegate effectively, but maintain oversight
Trust, but verify.
Empower your team. Sivers learned the importance of delegation when he found himself answering employee questions all day. He created a system where employees could make decisions based on the company's philosophy, freeing him to focus on improving the business.
Maintain control. However, Sivers also learned the dangers of over-delegation when his employees set up a profit-sharing program that gave away all the company's profits. This experience taught him the importance of maintaining oversight while delegating responsibilities.
- Teach employees to make decisions aligned with company values
- Create systems that allow for autonomous decision-making
- Regularly verify that delegated tasks are being handled correctly
5. Prioritize customer happiness over rapid growth
It's not that I wanted to get it done and have good vocals. It's that I wanted to be a great singer.
Focus on quality. Sivers consistently chose to prioritize customer satisfaction over rapid growth. He refused to compromise on the quality of his service, even when it meant turning down opportunities for expansion or losing potential profits.
Build lasting relationships. By focusing on making customers happy, Sivers created a loyal customer base that drove organic growth. He implemented policies like personalized email responses and including unexpected gifts with orders, which delighted customers and set CD Baby apart from competitors.
- Prioritize customer satisfaction over rapid expansion
- Implement policies and practices that delight customers
- Build a loyal customer base through exceptional service
6. Create systems that make you unnecessary
To be a true business owner, make sure you could leave for a year, and when you came back, your business would be doing better than when you left.
Document processes. Sivers created a comprehensive manual that documented all of CD Baby's processes and decision-making philosophies. This allowed employees to make decisions without constantly needing his input.
Automate and systematize. By creating systems that could run without his constant involvement, Sivers freed himself to focus on improving the business. This approach allowed CD Baby to grow from $1 million to $20 million in four years while he worked remotely.
- Create detailed documentation of business processes
- Implement systems that allow the business to run without you
- Use automation to reduce the need for constant oversight
7. Know when it's time to move on
No effort spent on anything but my customers.
Recognize diminishing returns. After years of running CD Baby, Sivers realized he had taken the company as far as he wanted to. He no longer felt excited about the projects needed for future growth and recognized it was time for a change.
Exit gracefully. When Sivers decided to sell CD Baby, he did so in a way that ensured his customers and employees would be taken care of. He donated the proceeds to a charitable trust for music education, staying true to his original mission of helping musicians.
- Regularly assess your passion and motivation for your business
- Be willing to let go when you've achieved your goals
- Ensure a smooth transition that benefits your customers and employees
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FAQ
What's "Anything You Want" about?
- Entrepreneurial Journey: "Anything You Want" by Derek Sivers is a reflection on his journey from starting a small hobby to building and selling a successful business, CD Baby, for $22 million.
- Lessons Learned: The book distills 40 lessons Sivers learned over ten years as an entrepreneur, focusing on unconventional wisdom and personal philosophies.
- Personal Philosophy: Sivers emphasizes the importance of knowing your personal philosophy and using it as a compass in business and life.
- Compact Wisdom: The book is designed to be read in an hour, offering concise insights that are both practical and philosophical.
Why should I read "Anything You Want"?
- Unique Perspective: Sivers offers a unique perspective on entrepreneurship, challenging conventional business wisdom with personal anecdotes and lessons.
- Practical Advice: The book provides practical advice for entrepreneurs, especially those starting with limited resources or unconventional ideas.
- Inspiration: It's an inspiring read for anyone looking to create a business that aligns with their personal values and dreams.
- Engaging Stories: Sivers shares engaging stories from his own experiences, making the lessons relatable and memorable.
What are the key takeaways of "Anything You Want"?
- Business Philosophy: Business is not about money but about making dreams come true for others and yourself.
- Start Small: Starting with no money can be an advantage, as it forces you to focus on helping people and solving real problems.
- Be Unconventional: Don't be afraid to exclude people or ideas that don't align with your vision; focus on what truly matters to you.
- Happiness Over Growth: Prioritize happiness over growth; a smaller, more manageable business might be more fulfilling than a large one.
What are the best quotes from "Anything You Want" and what do they mean?
- "Never do anything just for the money." This quote emphasizes the importance of passion and purpose over financial gain in business.
- "Success comes from persistently improving and inventing, not from persistently promoting what's not working." It highlights the value of innovation and adaptation over stubbornly sticking to failing strategies.
- "If you're not saying 'HELL YEAH!' about something, say 'no.'" This encourages focusing on opportunities that truly excite you, rather than spreading yourself too thin.
- "You make your perfect world." This quote underscores the idea that entrepreneurship allows you to create a business that reflects your personal values and dreams.
How did Derek Sivers start CD Baby?
- Musician's Need: Sivers started CD Baby to sell his own music online when no other service was available for independent musicians.
- Accidental Business: It began as a favor to friends who also wanted to sell their CDs online, eventually growing into a full-fledged business.
- Utopian Approach: Sivers designed CD Baby with a utopian vision, focusing on fair treatment for musicians, such as weekly payments and no paid placements.
- Simple Business Model: The business model was straightforward, with a $35 setup fee per album and a $4 cut per CD sold.
What is Derek Sivers' approach to business growth?
- Reluctant Growth: Sivers was initially reluctant to grow CD Baby, preferring to keep it small and manageable.
- Customer Focus: He prioritized customer satisfaction over expansion, believing that focusing on existing customers would naturally lead to growth.
- Avoiding Investors: Sivers avoided external funding to maintain control and focus on customer needs rather than investor demands.
- Happiness Over Size: He believed that a smaller business could be more fulfilling and less stressful than a large one.
What does Derek Sivers mean by "Make a dream come true"?
- Personal Utopia: Sivers suggests creating a business that is a personal utopia, where you design your perfect world.
- Focus on Others: The goal is to make dreams come true for others, which in turn makes your own dreams come true.
- Mission Statement: He created a mission statement for CD Baby that reflected his ideal distribution deal from a musician's perspective.
- Simplicity and Clarity: By focusing on a simple, clear mission, Sivers was able to create a business that resonated with both him and his customers.
How does Derek Sivers view the role of money in business?
- Not the Primary Goal: Sivers believes that money should not be the primary goal of a business; instead, it should be about making dreams come true.
- Avoiding Distractions: He advises against pursuing business opportunities solely for financial gain, as this can lead to distractions from your true goals.
- Generosity and Trust: Sivers suggests setting up your business as if you don't need the money, which can lead to more genuine customer relationships.
- Enough is Enough: He emphasizes the importance of knowing when you have enough, as endless pursuit of money can detract from happiness.
What is the "HELL YEAH!" or "no" rule?
- Decision-Making Tool: This rule is a decision-making tool that encourages saying "no" to anything that doesn't elicit a strong "HELL YEAH!" response.
- Focus on Excitement: It helps focus your time and energy on opportunities that truly excite and motivate you.
- Avoid Overcommitment: By saying "no" to most things, you avoid overcommitment and leave room for the rare opportunities that are truly worthwhile.
- Simplifying Choices: This rule simplifies choices by providing a clear criterion for decision-making based on enthusiasm and passion.
How did Derek Sivers handle delegation at CD Baby?
- Delegation Mindset: Sivers realized he needed to make himself unnecessary to the running of his company by delegating tasks.
- Empowering Employees: He empowered employees by explaining the thought process behind decisions and encouraging them to make decisions independently.
- Documenting Processes: Sivers had employees document processes in a manual to ensure consistency and understanding.
- Trust but Verify: He learned the importance of trusting employees but also verifying their work to prevent mistakes.
What was Derek Sivers' biggest mistake, and what did he learn from it?
- Ownership Oversight: Sivers' biggest mistake was not realizing that he had sold 90% of his company to his father's business when borrowing money.
- Costly Buyback: This oversight cost him $3.3 million to buy back the majority ownership of CD Baby.
- Read Before Signing: He learned the importance of reading and understanding what you sign, as well as the implications of business structure decisions.
- Lesson in Control: The experience taught him to maintain control and awareness of his business dealings to avoid costly errors.
Why did Derek Sivers give his company to charity?
- Enough is Enough: Sivers felt he had enough for a simple, comfortable life and didn't need the money from the sale of CD Baby.
- Charitable Trust: He created a charitable trust to benefit music education, ensuring the proceeds from the sale would have a positive impact.
- Happiness Over Wealth: Sivers found happiness in knowing that his success would benefit others, rather than accumulating wealth for himself.
- Freedom and Simplicity: By giving away the company, he gained freedom from financial burdens and the satisfaction of contributing to a cause he cared about.
Review Summary
Anything You Want receives mostly positive reviews for its concise, unconventional business advice. Readers appreciate Sivers' candid storytelling about CD Baby and his focus on customer happiness over profit. Many find the book inspirational and refreshing, praising its simplicity and practicality. Some readers note that the advice may not apply universally, but most value Sivers' unique perspective on entrepreneurship. The book's short length and casual tone are frequently highlighted as strengths, making it an engaging and thought-provoking read for aspiring business owners.
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