Ranking The Best And Worst Businesses To Start w/ Billionaire Investor Andrew Wilkinson (
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- čas přidán 16. 07. 2024
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Episode 386: Sam Parr ( / thesamparr ) and Shaan Puri ( / shaanvp ) talk to Andrew Wilkinson ( / awilkinson ) - entrepreneur and co-founder of Tiny - about learning to be a successful entrepreneur in less than a decade. His hardest and easiest businesses to start. Plus, one business idea he hasn't acted on, yet.
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Links:
* Tiny - tiny.com
* Pixel Union - pixelunion.net/
* Warren Buffett letter - theoraclesclassroom.com/wp-co...
* AeroPress - aeropress.com/
* Metalab - www.metalab.com/
* We Work Remotely - weworkremotely.com/
* Tenzing.co - www.tenzing.co/
* Mealime - www.mealime.com/
📧: Sign up for The Hustle Daily Newsletter: mfmpod.link/2rs
🎙️: Download Our Podcast: link.chtbl.com/cE8g4wVg
A podcast where we brainstorm new business ideas based on trends & opportunities we see in the market. Sometimes we have famous guests, and they do it with us.
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Show Notes:
(00:00) - Intro
(02:30) - Mr. Business Builder
(05:50) - Automatic revenue - Pixel Union
(11:35) - Warren Buffett letter
(16:30) - Bored of investing / AeroPress
(23:13) - Cat furniture
(25:05) - Hardest to easiest business to start
(33:44) - Business idea to capitalize on
(37:13) - New business
(48:38) - Fraudsters
(01:02:26) - non-binary term sheet
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I didn't see a ranking of businesses from hard to easy.
he talks about most hard=> brick & mortar, to medium=> agencies and easy=> his job board
@@remcotevreden1228 Sorry, that was not a "ranking". That was a broad discussion in which his businesses are briefly evoked.
Seeing the title and the thumbnail, I would have expected at least 30 min of discussion where different business models are explained and ranked.
Things like skills required, minimum start-up capital, how easily the business can be validated, and how much time it will take to pull it off should have been discussed.
I feel that the podcast didn't bring any actionable advice, but was more a general discussion where the public *feels* (keyword: feel) they're getting value because "billionaire investors" are involved.
@@hqrlock haha, That great YOU felt that but not there thing. Most know the details or know google. IMO
Focus more on what you love when choosing a business. And yes roughly know what is needed for each
Focusing too much on “what is the right business decision” means you lose “what is the right business for my life” decision
The latter being most important to most people @Alexandre
Right lol
This was such a great conversation! Thanks for putting this content out.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio
25:00 Starts
The hero we need
Wilkinson's business idea - Targeted online stalking. Their slogan - Every breathe you take, every move you make, I'll be watching you.
Inadvertently, a song by The Police 😂
At around 17:30 When he said "I'm sorry owned?" I almost died🤣🤣🤣🤣
I love the concept of the "new Zealand" business model.. hoping this video talks more about it
what was that
One of the best podcasts on this channel.
Really just an amazing guest and conversation!
No rankings and no mentions of what businesses to even start. Just them talking to a friend they know about a couple things he did and then goes off tangent about FTX and venture capitalism.
yep very misleading title, feels like wasted time wish i wouldve listened to a different ep
I find y’all quite fascinating to listen to, and I thought Andrew was a guest y’all were interviewing at first, so it seemed rude to greet him then start talking about Sahill, but when I realized he was more hanging out talking, I thought that was cool, he made a great and insightful extra for the episode. He seems like he has a great heart, a lot of compassion and wisdom 🙂
I really appreciate what y’all do here. You’re funny, fun to listen to, and I learn a lot every time I listen. Thank you all for this episode 🙏🏼 😊
Another informative and inspiring podcast. You mentioned that in Canada, the government will pay for your R&D. (time stamp 40:40) Can you please provide more information about it? The process, recourses, tips, and anything else I should know. PS I'm working on an app that lets you follow persons of interest, basically does what you are interested in.
55:02 Wilkinson described a rug pull with his fingers without saying rug pull 😅
Thank you 💖
Aero press is a revolutionary coffee product. They truly reinvented the wheel, and it rolls faster, more conveniently and cheaper than anything else.
43:00 I am such a B2B Saas nerd that I was thinking of SOC 2 when they were talking about a dude with a custom sock business :(
haha me and you both
😂😂😂😂😂 I laughed out loud
thumb nail is misleading but the conversation and insights are really great !
You’re Warren Buffet PHD 😂💀. I needa spend 2 years reading valuation books. Such a great podcast. Wow.
Tenzing- what an apt name. love that
27:40 Interesting, I've heard the opposite when it comes to SaaS and consulting. Early SaaS companies will use consulting as a "means to an end". Then using the consulting funds to give them capital to do what they actually want within their biz? Both ways provide capital/growth. Thoughts....
Great idea about the hyper targeting except that is what GDPR blocks pricey.
What's the marketing stratergy for software agencies
1:05: Hear me out - "I want the upside of equity but certainty / pref of debt".
My 2 cents is if Andrew is in that scenario - He's trying to fit a sq peg in round hole by asking for downside protection. Structure it as a mix of high interest debt (mez) and some equity. Best of both worlds. If the co can't support that structure, you shouldn't do it.
What’s the best way to pitch my killer app. Cutnova App launches in about 1 month. It’s a SaaS Business.
Clearly a click bait title, next time I know ; )
shaan hijacks the conversation. i wanted to hear andrew wilkinson. shaan puri always does this.
The letter ❤
time 16:40, "it's boring to be an investor" - everyone agreed. It's hard to understand how Buffett tolerates the lack of variety in his situation.
He has tolerated assembly-line, factory-worker levels of sameness and repetition for decades.
Most of us need variety. If you don't like to fish (go out on a small fishing boat and sit there for hours doing nothing but waiting), investing is far worse than that. (day trading is not investing, but at least there's variety, a bit on the expensive side though)
That Sherpa recently passed away. He was helping someone I know climb Everest and they were 400 feet from the top and an avalanche came. RIP
The individually targeted biz idea feels very Truman Show-y to me 😂
Ha Ha... a if its not a already a cross between Truman how and Twilight Zone'ish, right?
Who was the person they were talking about at the beginning?
Their previous podcast guest Sahil on the episode before this
27:55 TIL WeWorkRemotely is built with Rails
What Andrew is describing is basically Cambridge Analytica right?
What do you mean by agency business
What do they mean when they say agencies. I know this sounds dumb but thank you.
Can someone tell me the title of the book by Warren Buffet that Andrew says (in this video or another) that changed his perspective on acquiring businesses please
The Warren Buffett Way.
@@iammilorex thank you!
Yep. I brought an Aeropress.
This guy sounds like Craig Miller from The Ticket in DFW
Andrews Idea for the ultra-targeted digital marketing campaign to a single person is just going to turn into ex-boyfriends/girlfriends trying to get their exes back that blocked them on everything 😂
I love my aeropress. I've yet to find a better way that I prefer.
1737 wow aeropress is so simple. Its all in the marketing!
Title should be billionaire ranks his businesses
47:15 It's too late to invest in Amazon? Why?
ig, for a beginner its about experience, tools, strategies, and methods.
@@sofianealloui How is this a reply to my question?
@@economicon9257 I don't know what's not to understand. It is late to invest in Amazon if you want to have a huge gain. He mentions 2010 was the last moment to invest in Amazon before it went out to blow up and never look back. Just look at the stock history for Amazon. It was around $2 in 2010 and then it blew to $100ish. That's what he meant.
How would price Andrew's hyper targeted agency idea?
Power
Did I hear Sam say he verifys someone's wealth by there home. 🤔
but also someone on his pod said they prefer to rent although being worth millions. he must actually be broke!
No, you did not hear that. I said if someone has an expensive home, that's one sign that perhaps they have a certain amount of $ given that you have to have a certain amount in order tog et financing.
@Sam Parr Sam no need to explain, just throwing some Boston sarcasm around. Its interesting to see how people react. Not to flex, but I was awarded Grand Puba status for Sarcasm. LoL
Clearly you know how to make big stacks, and tell who's ballin!! Happy Holidays to you n yours!!!
Pizza is one of the toughest it has some of the highest competition
Now is the time to get on the BTC train.
Is there a busines verb that died ever ?
SAFE note?
Some attractiveness to selling and get capital gains treatment… if making $1M/yr profit, but can sell for $15M …
anyone got a timestamp to the tier list picture or was that clickbait
Go to the hardest to easiest section, they didn’t make a visual tier list.
Are the chamath digs in the same spirit as the sahil ones? Because shaan seems to be picking on him a lot recently
For some reason it seems like Shaan seriously dislikes chamath but he won’t confront it on the pod he just keeps taking cheap shots
I mean he explicitly lays out his problems in this podcast. He thinks he's smart and talented (jury is out on handsome, I guess) but plays a game where he wins irregardless of the outcome of the companies he's promoting.
@@chasely yep you’re right. I commented when he was throwing shade at the beginning of the pod. Now that I’m at the end I totally get it.
Chamath is not as bright as he hopes people believe. He’s swiped just just as much money as SBF through his SPACs…
He has a jealousy issue its because Shaan hasn't really made money investing, no liquid wins from what I've heard. Whereas Chamath has made a majority of his money investing, with large wins.
"You can't outsource your conviction" , well said 1:18:18
Great quote
It's pretty widely believed that Tenzing Norgay submitted Everest first, but you know, he's not white which was kind of an issue at the time.
I agree cat furniture is hideous
Hard to follow at times, You guys keep jumping all over the place and move from one subject to another without even scratching the surface of the question you just asked.
shaan stop this small boy stuff and get chamath and maybe the other besties on the pod, would be an entertaining watch
Love the podcast and what a fantastic amount of insights. The only thing that bothers me is your conversation etiquette Shaan. I understand that you’re passionate about the topics and stuffs but stop interrupting your guest all the time. Let them finish before jumping in please
Sahil (from the other podcast episode) was a great example that no matter how fit, handsome, successful, rich, balanced you are, there's always some smug 'Sahil' waiting to try to make you feel inadequate all over again. :) As an aside, I dunno what that dude was looking at constantly during his interview, but it sort of drove me nuts. That said, I've loved every podcast episode (AND you guys are my favorite podcast on youtube) you guys have ever done...except that one (and it wasn't your fault at all).
Am I missing something? What made him smug?
I don’t know what it is about this podcast but the comments 🤮. I think this podcast is 10/10 so much hate
Thumbnail Clickbait
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As a single mother with 3 kids, it wasn’t easy having to raise them alone after my husband had passed. I remember the hardest part was when my eldest son got into college and having to pay for his tuition would not have been possible without the help of Ms Norman whom i had gotten in contact with the previous year. she assisted me and taught me how to earn extra income
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< normandavis
This is still a window-shopping market. But there are a lot of intriguing stocks to watch from a variety of sectors. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on. kudos to Norman, great remarks!
Ótimo vídeo, bem didático. A última vez que vi algo tão bom online foi no dia em que fui apresentado ao Sr. Robert Andrew e então fiz um pequeno investimento de $ 1.000 e tenho orgulho de dizer que trabalhar com ele me deu liberdade financeira.
um homem tão talentoso deveria ser muito popular, pelo jeito que você fala, tenho um bom pressentimento de que você se beneficiou dele
^INSTAGRAM ⬇️
Robert andrew trading ⬆️
Warren Buffett isn't all that
His main advantage was owning an insurance company and thus getting free margin, where others have to pay for margin, be gets his completely free
That's his entire advantage
@@michaelwaynetucker in some ways though the rules are actually much looser today ,for instance up until 1982 , companies buying back their own stock was illegal and considered insider trading
@@michaelwaynetucker I'm not aware of anything Buffet has done that rises to the level of what current " vulture capital firms " get up to
I have studied Buffett and you are spot on. GEICO gave him free money to acquire
What does getting free margin mean
@@thethinkingcap8296 margin is when you borrow money with interest,to invest,to boost your returns
Buffett had extra money to invest for free because of owning an insurance company, the people's premiums were his piggybank
I want to be a nerd too. I have a strong back and hands. I wish I didn't. I'd probably have 10 million In the bank if I had a soft belly full of kombucha and days filled with researching boring papers. I would have no funny jokes to tell but I'd be able to buy anyting. Girls probably wouldn't like me anymore but I could buy their 💕😘😢
Well said
Interesting discussion but yet another clickbaity title
Bagshaw literally saved me, just before the crash she advised me to get out of my long position. I'll recommend her any day.
36:50 Just tells you how out of this touch this guy is with reality.
Please, elaborate. Most of the people are sharing feelings: "this is bad" "this is awesome." Very little are sharing something meaningful.
@@JanKosowski The guy describes an ad network. It's what adnetworks literally do, they track you and then show up everywhere you go, and they're regarded as invasive in terms of privacy.
@@sanjaythakur9038 Yeah, my first impression, but I guess he meant the same logic applied to information content only (not products and services).
The beginning of this Podcast was very boring and did not live up to the thumbnail or title at all
You can tell a lot about a man by the watch he wears. Rolex Explorer, understated, humble but baller and pure class.
Rolex is not understated.
@@publicsectordirect982 the explorer is
That Comment at 18:28 is gold -- acquiring business that will be around longterm (most businesses die)... Andrew already is and will continue to be top tier investor and entrepreneur.
We are given much with ability to study the work of older generational entrepreneurs and investors (Buffett, Munger, Ford, Gates, Jobs etc) and it is super cool to see all the amazing work of younger men and women - like you three on today's pod. I look forward to seeing all that you are going to continue to do into the future! All the best to Shaan, Sam, Andrew, Steph, Ben (producer Ben, and Partner Ben) and everyone else involved with MFM.
I got taken by Scott Secord of Canada via Warrants in a CBD co. It was one of the worst experiences I have ever been through. I lost so much money!
The pods with Andrew are the best!
Great show
Please stop saying "like" in every sentence. It's like,you're like a teenager.
Total cringe i agree
Great pod! Thanks again.
This guy looks like a younger Jordan Peterson
Thank you for all the inspiring thoughts and ideas!
Great video, terrible title.
This won't age well.
Best MFM pod of the year. Loved the honest discussion about capital raising and the general industry around startups. Hope more people start having these conversations in the open.
misleading title... really like the show but wish i would've watched a different episode
might as well use SBF for clickbait, talked more about him than which businesses to start
Legendary 🔥🔥🔥🔥
i hate the way he says ebitda
Best video yet
Great dude. And definitely winning that hair-game!! Dahhmmm nice!
Would you please bring Peter Sage on the show? Check him out please. He is worth the time. Thanks.
Andrew is my all time favorite guest
Same here
You can make 8% per month roi invested if you join this vip club, get mentorship by a 7-8 figure affiliate marketer and you buy ads on certain cheaper ad networks and promote top 1% converting offers or new offers. testing alot then scaling, which is 2x per year roi and 1024x per 10 years.
We know you guys are geniuses have gotten enough info from you. Can you let the guests do 90% of the talking, please.
Ok Karen
What a great show and episode. Andrew is in a league of his own - super impressive!
Andrew wilkinson you made ny day when you explained how you busted forecasting scenarios after I had had a board meeting, who Said just give it your nost likely one shot. Thanks to you I now have created defensable pillars and just feel much safer these days.
Paradigm probably did due diligence but i bet they were provided with fraudulent docs
Probably true
Are you guys scared to talk about Andrew Tate?
Who the f cares about Andrew tate lol
Andrew should be cloned! He’s extraordinary
Sam and Shaan, where do you guys chat to find new people to talk to? Do you all go to the same coffee shop? How do you know these people/find out about these people you interview?
Andrew met Sam thru the hustle (Sam’s newsletter biz)
Andrew liked the podcast and so he asked someone for my number and called me one day
In short- the fastest networking hack is to work on something awesome. Like minded people will reach out
@@shaanpuri5111 thank you!!
These guys 🎉 what a party
Needed this
Love that you guys read the comments. Really liked the final part of the pod, moments like this are the best to recalibrate our senses. Don't follow the leader if you don't know
Read this too