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Hello Friends,
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Most of the people think that starting a business is very difficult
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it's difficult to be an Entrepreneur
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many people think that business requires lot of investment, lot of hard work, need to take financial risk
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need to leave job, and many such difficult thing needs to be done in a business
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which isn't possible for everyone to do it
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but author of this book, who himself is a very successful businessman
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who runs million dollar software company since 20 years, he says that such believe related is business
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is wrong, it's a myth
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problem is when most of the people think about business,they directly think about
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creating a BILLION DOLLAR business like TATA, ELON MUSK, BILL GATES, AMBANI
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But authors says that at start it will be best for people to create a side business
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which is profitable and sustainable which generates a good side income for you
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author says that creating side business is something which people can do easily without losing
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current job and studies and don't need to invest much
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In this book author has shared different-different principles which he had learned
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through his years of experience and after following those principles
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anyone can start a successful business
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and i have shrink that into a magic sentence, you can call it a startup mantra which is somewhat like
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SCRATCH THE ITCH WITH CORE MINIMUM
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AND FIGHT PASSIONATELY WITH LESS
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Actually in these sentence 4 principles are hidden
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which i will explain to you one bye one
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first principle SCRATCH THE ITCH
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Vic Firth was a great drum player of a very good orchestra group
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after playing drum for many years he noticed one thing which frustrated him a lot
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the thing which used to irritate him was, which ever drumsticks he used to use to play drum
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wasn't similar to each other, both sticks used to be different from each other in terms of density & weight
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because of it that drum never produces same level of pitch and sound
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this thing used to irritate him a lot
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Hence what he did in order to solve this problem, he went to his basement did research and created
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same density, weight and pitch drumsticks
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after which he named those drumsticks as THE PERFECT PAIR
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His Drumsticks became so famous that today his Company which creates Drumstick
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owns 62 percent of Drumstick market and dominates the market
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similarly, Bill Bowerman who was a Track Coach
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when he wasn't getting a light weight perfect shoes in the market for his students
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then he himself went to a local work shop and he himself created a light weight and strong shoes
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which was liked by almost everyone and from then on Nike Company has started
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and today almost everyone knows about Nike company and brand
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similarly, even author started a consulting firm in the start
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when he was handling lots of projects of different companies at that time he realised
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and noticed in order to manage so many projects there is not perfect tool available in the market
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hence in order to tackle this problem what he did with his partners he created a software
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which can easily manage all the projects, and it was a very useful creation
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therefore every company was in need of that software
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hence many companies started buying his software and this way his business became successful
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and today he is earning in millions
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if you notice in all three examples, then you will come to know that everyone felt some problems
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in their lives, they felt some itch in their lives, and to tackle or to overcome that itch they
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came up with a useful solution, similarly even you notice in your day-to-day life what problems you are facing
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and how to can overcome that problem through a useful and perfect product
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your main aim should be solving a real problem and it would be best if you have your own problems
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because when you find solution for your own problems chances of understanding it properly becomes high
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and because of which you can take quick and better decisions while creating a product
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sometimes searching others problem solution can be like shooting an arrow in the dark
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second WITH CORE MINIMUM
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i will ask you a question, suppose you want to do a Burger Business
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what is the main thing requires to convert this idea to a successful business
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what is the thing without which you can't have a successful business
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what you required the most is it a shop employees or anything else
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well obviously the most important thing which you need to start a successful business will be your BURGERS
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Your burgers should be the best, no matter how good or bad your shop or employees are
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people will come to eat only when you have best quality burgers
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hence here tasty burgers will be the core of your business
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and at start your maximum focused should be on your core
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maximum people has the same problem, they put their focus time energy and money
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on other things instead of having a maximum focus on their core
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lack of core focus at start isn't a wise choice or decision example,
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When author started his Basecamp business, at that time he focused on core & invested very less
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they didn't opened their own office they used a shared office space
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they didn't used many servers, they used just one good server
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they didn't hire customer support team, they themselves answered mails and calls
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similarly even you should focus on must have things not on nice to have things
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having a good degree is something nice to have, whereas you can learn various things
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on google and youtube
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it's good to quit your job and start a business but maximum time you can handle both just by removing
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some extra time, instead of wasting your time of television useless shows and on social media and
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procrastination, you can save that time and utilise it on handling your business
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Taking an investment from outside is good
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but you can create something great at home just by using some cheap and free things
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the most important thing is that in today's technology or in digital world doing things have become very easy
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things which were tough earlier is possible today with the use of computer
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hence ask yourself or better write it down, what are the must things you require to start a business
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after writing thoroughly notice everything and see like seriously you need it or not
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or you can use alternative cheap things to start your business
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example, when i was thinking about starting my seeken channel
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at that time i would have thought that before starting a channel let me first learn animation
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through classes, or i should learn to create videos on camera or i should save to buy an expensive mic
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only after all this i should start a channel, but i haven't thought about all these nice to have things
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because i knew that my youtube videos core will be book summaries
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therefore i bought cheap but good quality mic, i searched a good animation software
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for which i didn't have to invest on camera or on other things
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i just focused on my core, i focused on my videos content and you all can see the results
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Third Fight Passionately
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when you start a business after removing a solution of any problem by a minimum investment
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then the next question will come how you will look different in the crowd how you will stand out.
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so that others will choose your business
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well the best way through which you can make it possible is by fighting with your competitor brand
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example,
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Dunkin donuts used to do market themselves as An Anti Starbucks
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they focus more on the fact that they are not like starbucks
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they never give fancy names to their cups like starbucks
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in fact they have created a website known as dunkinbeatsstarbucks.com
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where visitors send cards in which they writes a real friend doesn't allow other friend to waste their money
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on Starbucks etc, similarly, Audi Did marketing as Anti-old luxury cars
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they go beyond their limits and make fun of Lexus Mercedes brand in their ads
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and says that they are just not like them
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few days back i have seen an ad of 7up which is a Pepsico company brand
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in that ad it says that how today's generation isn't clear in anything and we are just like this only
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by making such ad they are directly or indirectly challenging the other brand Sprite which is of cocacola
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company, sprite usually talks opposite of 7 up ads, sprite says "SPRITE CLEAR HAI"
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You will notice these two and many other companies fight with each other
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why because they know that we human love to take sides,
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and when we take side of anything we emotionally get attached to those things
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hence if you say what you believe in and challenge to those who doesn't have believe like you
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then this thing will attract those people who have similar believe like you
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people with same believe will support you and also use your product
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fourth WITH LESS
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Harvard Cambridge are considered as some of the best universities in the world
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but have you ever thought even after being so successful why these universities never open
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their different branches in different countries, because for them it's not a big deal
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but still they don't open their branches, because they know it's good to compete with less
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because they know if they start different branches in other countries then their quality
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and their image will not remain the same
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most of the businesses you will they are just busy competing with numbers
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they feel it is good to have more, more employees in the office, more features in the product
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and they even feel that if they have more food items in their menu then their restaurant will work more
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author says that such thinking is totally wrong example,
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author tried two coffee shops which was near his house
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first coffee shop which he tried, he used to get confuse just by looking that coffee shop menu
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because that menu has so many different types of coffee written on it
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even after trying almost every coffee he didn't feel good, because of lack of quality
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but when he tried second coffee shop, there they used to sell only 4 types of coffee
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choosing coffee there was easy but the best part was quality of the coffee, quality was the best
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reason their quality was best because they used to focus on making those few items the best
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and as the result author always used to go to that coffee shop
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you will notice most of the people make the same mistake, if their competitor give 2 feature
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in their product then they will give 3, if competitor gives 3 then they will give 4
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such competition reduces their product quality and also decreases their profit
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if they focus on few things and make sure to give the best quality in that few thing
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then their profit will improve for sure and also they will have a successful business
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if they focus on few things and it's quality then they will able to compete with big fish
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they will face success by focusing on quality not by focusing on numbers.
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hence even you must compete with less at start
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by this you will save more money, will have more profit and soon you will face success
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With these 4 principles, one magic sentence is made which you must always remember
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STRETCH THE ITCH WITH CORE MINIMUM AND FIGHT PASSIONATELY WITH LESS
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Before ending this video book summary, one extra bonus principle or lesson which author teaches us is
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that maximum people say that we must learn from our failures but reality is we can never learn what we must
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do from our failure instead from our failures we can only learn what we should never do again
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author say in order to learn what you must do, you should learn from success and from
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people who are doing successful business only then you'll able become successful
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and same thing even i teach in my seeken channel through book summaries and mentors
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so that our failure chances reduces and we improve in our lives and face success soon and easily
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these were some amazing knowledge from an amazing book Re-work By Jason
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about which Billionaire mark Cuban says, that if two people come to him for investment, one who has
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read Re-work book and one who has MBA, I am Investing on Re-work every time.
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this is really a very great book, hence if you want to learn this amazing book knowledge
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then can buy this book from the given link in below description
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and if you want free audio book of this book then can take it from seeken.org/audible.com
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even i have taken this book audio book, audible is an amazon company which gives one month
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free audio book trail only after that 1 month free trial they charge if you continue their service
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if you never want to miss any of my videos then do subscribe and click on the bell icon
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don't forget to click the bell icon only then you will receive notification on sunday's
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otherwise you will miss such useful knowledge, hence do click the bell icon
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do like this video if you find these knowledge useful, do comment your views
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