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BiggerPockets Business Podcast

1: How to Turn a Hobby Into a Booming Business (Then Get Your Life Back): The BiggerPockets Story with Joshua Dorkin

BiggerPockets Business Podcast

BiggerPockets

Business, Careers

4.8696 Ratings

🗓️ 2 May 2019

⏱️ 88 minutes

🧾️ Download transcript

Summary

If you think you know Joshua Dorkin’s whole story... think again. In this debut episode, the BiggerPockets founder reveals exactly how he bootstrapped a hobby site into the world’s biggest online community of real estate investors. How he worked 100-hour weeks in his basement (and boxers). And how somewhere along the way, it dawned on him that he’d built a “lifestyle business” that left him with no real life. Joshua traces the business back to the days when Myspace was hot, and gives tips for building an online community that still resonate today. He describes a few moments when he almost quit ($15,000 for a website that didn’t work?!), and reflects on why he waited 8 years to make that game-changing first hire (Brandon!). But for as many lives as BiggerPockets has touched, this episode is about something more profound than one company’s growth. You’ll learn what that is when Joshua reveals why he’s been out of the public eye lately, and the reason he stepped back from day-to-day operations just as BiggerPockets reaches new heights. This show will give you a lot to think about -- whether you run your own business or you’re just thinking about taking that leap. It’s a perfect jumping-off point as we launch the BiggerPockets Business Podcast, and help one another make a real positive impact on the lives of our customers, our teams, and our families. Listen now and make sure you’re subscribed so you don’t miss an episode. And follow BiggerPockets Business on Instagram @BiggerPocketsBusiness! In This Episode We Cover: Joshua’s eclectic career path before founding BiggerPockets His first disastrous foray into long-distance real estate investing The void he sought to fill when he launched BiggerPockets How he attracted members to the site by providing value in other online communities The moment he broke down and almost quit How hiring a consultant led him to hire his first full-time employee, Brandon Turner Why employee “fit” is more important than impressive credentials Why sticking to his principles (no gurus, no upselling) was good for longterm business Why he decided not to return to day-to-day operations after taking a leave of absence How he negotiated a partial exit from the business by bringing on a private equity firm And SO much more! Links from the Show BiggerPockets Real Estate Podcast Brandon Turner's BiggerPockets Profile Scott Trench's BiggerPockets Profile BiggerPockets Money Podcast Joshua's Saturday Night Live Cameo Joshua's Personal Website Joshua and Brandon's Book: How to Invest in Real Estate Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hello Blue Skies. Hello moving onwards and upwards. Hello, taking control of your money. Say hello to tax-free investing. Open a Stocks and Shares ICER and act by the 5th of April to get 100 to 3,000 pounds cashback. Cargreaves lands down. Hello Life. Register and add or transfer £10,000 plus. You may go Lansdowne. Hello Life.

0:23.8

Register and add or transfer £10,000 plus.

0:25.4

You may get back less than you invest.

0:26.5

And tax benefits vary.

0:28.6

For terms and conditions, see hl.co.uk. UK, 4. slash ISA.

0:30.8

This episode is brought to you by Vanty.

0:33.6

Stressing over cyber security.

0:35.3

Whether you're a startup, growing fast, or already established.

0:38.6

Vanta can help you get ISO-27,001 certified and more.

0:43.6

Plus, it allows your company to centralize security workflows,

0:47.6

complete questionnaires up to five times faster,

0:50.2

and proactively manage vendor risk to help your team stay compliant.

0:54.3

Head to vanta.com slash Spotify to learn more.

0:58.4

Here's the truth about AI.

1:00.8

AI is only as powerful as the platform it's built into.

1:04.4

ServiceNow puts AI to work for people across your business,

1:08.3

removing friction and frustration for your employees,

1:12.7

supercharging productivity for your developers, providing intelligent tools for your service agents to make customers happier,

1:18.4

all built into a single platform you can use right now. That's why the world works with ServiceNow.

1:25.2

Visit ServiceNow.com slash UK slash AI for people. Welcome to the Bigger Pockets

1:30.8

Business Podcast. This is show number one. There were various phases of this business. It went from

1:37.6

hobby site to lifestyle business. Now, mind you, I did not have a lifestyle business because I had no

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