Mario Nawfal talks Blockchain
Just like Blockchain, Mario Nawfal is a fast paced and making a difference to our world. Mario has perfected a way to bootstrap new businesses. You are going to learn that this is not for everyone. For example, he lives an unconventional lifestyle. Arguably, this helps him stay focused.
Mario talks about his journey to getting into this exciting new technology and how he is bootstrapping new businesses at a hell of a pace.
What is Blockchain?
Mario is still a student of blockchain to this day. And if you are not a student, then you are going to miss out.
It essentially allows you to transfer value through the internet. At the moment, the internet allows you to transfer information. But, when you want to transfer money, you need third parties to verify that that money or value actually moved from one party to another.
Mario believes his life may be over by the time all this really kicks in. It is disruptive, but should take a long time to take hold. The technology decentralises and removes the need (potentially) for the third parties to be involved in the transfer of value. It removes the inefficiency.
How did Mario get into Blockchain?
He started his first business aged 21. Dropped out of university when he heard of a young 13 year old making lots of money. His early e-commerce high end kitchen company did remarkably well, becoming an 8 figure business in 2 years.
Then he came across Bitcoin.
Mario has since become a partner at a Blockchain law firm and founded a VC fund as well.
During all this, Mario was scammed by team members. In brief, he was in the Ecommerce space. Learnt about this new tech and found opportunities. His goal was and still is to leverage the potential of those opportunities. Long term. He is positioning himself as a leader in the space through his Blockchain Consultancy.
Be objective about Bitcoin. It has a place. You cannot scale like Mastercard or PayPal. However, it could be perceived as a store of value. For western world individuals, not that important right now. For Venezuelans, it is very important. Not controlled by a 3rd party. there, they have lost faith. Bitcoin is essentially maths. Code. No-ones position.
The best way to dip your toes is probably Libra, from Facebook. This is FB’s attempt to bring crypto-currencies and blockchain to the masses. Be careful – read this article…libra facebook
The average person does not need to know the details of this technology.
Mario Implements QUICKLY
Mario quotes Jim Collins – throw a pebble. If the market reacts, he knows because they pay him. The idea is validated.
There is no better way for a market to tell you they are interested in your concept than with their money.
When You Launch – The Biggest Secret to New Business
Mario advises you to examine:
- BARRIERS TO ENTRY – are they attainable?
Yes, to both. Mario will test the market. Take payments or get registrants.
Mario acts quickly. He is all in when the timing is right. SPEED is an incredible asset. Especially, as a start-up. He is extreme.
He is obsessed with work and latin dancing. The latter tempers his behaviour in the former. He scales really quickly. Scaling is an art-form. Have someone who disagrees or at least balances you out.
Be Mindful of Delusion
Don’t forget FACTS. If you have the next big thing. For every Uber, there are hundred and thousands who have failed. As an entrepreneur, mitigate your risk.
Learn from people who have built 7,8, 9 figure businesses.
This helps him to relax. He is about ideas and strategies, not execution. He has a team to do that.
And it’s not that difficult to figure out the advantages of latin dancing….
He is obsessed with latin dancing. It is his exit. Helps to clear his mind. After dancing, he often gets his ideas.
His objective is to have freedom.
Dancing allows him to meet people without the chit chat. He doesn’t have time for that. Efficient dating!
3 Ideas to Leave You With
The Lean Start up Book.
- Take Action – nothing stops him. He started his first business with 200 Aus Dollars in the bank.
- If you don’t have a lot to lose – go and take the risks. Life is longer than you expect. WHY NOT?
- With responsibilities, use spare time. Reduce social media. Work every waking minute? No, enable time you can use. Keep your job, but every other minute.
- Don’t waste your time.
- Follow lean methodology. Validate your idea. Research. Are people willing to buy your product.