12: The cold, hard truth about dropping out and building a 7-figure business with Shane Melaugh

Shane Melaugh 2


Shane’s entrepreneurial journey started in 2006 when he dropped out out of university. He went from offline business in the hardware market, to e-commerce, to affiliate niche sites, and from hungry and desperate, to well fed and successful. Now, he created and sells software and information products for a living. He’s sold thousands of copies of his products and he’s built up a business from absolute scratch to 7-figures and beyond.

Time Stamped Notes

  • 00:20 Kylon’s Praxis Intro
  • 02:50 Kylon introduces Shane
  • 05:00 Shane shares his frustrations about web design
  • 06:25 Thrive Themes finds its niche
  • 07:10 Thrive Theme memberships
  • 09:00 Shane’s dropout story
  • 15:00 Obsessive Nature
  • 18:50 Autonomy
  • 23:30 Reactions to Shane’s decision to drop out
  • 27:50 Fears and Foresight
  • 32:55 Shane shares – from eCommerce to Thrive Themes
  • 39:46 Creating a WordPress product
  • 41:18 Immersion in the industry
  • 45:30 Thrive’s revenue
  • 48:09 Shane’s worst entrepreneurial moment
  • 52:00 Number 1 thing
  • 52:36 The big AHA! moment
  • 54:45 Lessons for a younger self
  • 57:00 What is success?
  • 57:44 Books to reference
  • 58:55 Shane’s parting advice
  • 01:02:00 Thrive’s current goals
  • 01:04:25 Kylon’s Outro

4 Key Points

  • The decision to drop out should be substantiated by a real-world understanding and successful past within the craft or trade or profession that you choose over your academic career
  • Understand yourself. Foresee your success based on your track record, rather than your assumptions about who you are.
  • Don’t drop out to become an entrepreneur. If you’re already an entrepreneur, #justdoit. BUT: Make a smooth transition rather than a leap of faith.
  • Immerse yourself in the industry you’ve chosen as a career platform.

Resources Mentioned

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