83: From Bankruptcy to $20m exit with Tim Fargo of Tweet Jukebox

The Foundr Podcast with Nathan Chan

Nathan Chan

Marketing, Business, Entrepreneurship

4.8 • 662 Ratings

🗓️ 16 March 2016

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

It's not easy to admit when you're wrong, but you'll rarely find a better time than when you're filing for personal bankruptcy. That's what Tim Fargo of Tweet Jukebox had to do when he was a young man in 1991 and found himself a little too in over his head. But today he's the founder of one of the most exciting and innovative social media automation engines in the world, right after selling his previous company for $20 million. So how does someone go from bankruptcy to $20 million? Well, you do it by paying attention and learning from your mistakes, which is exactly why Tim is where he is today. He's experienced both the lowest and highest points any entrepreneur can go through and he's walked away from a better businessman and all the wiser for it. We're very lucky to share with you today this episode of the Foundr podcast, in which he talks openly about the lessons he's learned throughout his career and all the different pitfalls and traps you need to avoid. If you ever wanted to learn from someone with over 25 years of highs and lows in the world of entrepreneurship, you don't want to miss this one. In this interview you will learn: What it's like to file for bankruptcy and how to recover from it The do's and dont's of cash flow management How to keep yourself in check and on the right track when starting a business The key steps to growing your business rapidly What you can learn from going broke & much more!

Transcript

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0:00.0	This is episode number 83 with Tim Fargo of the Founder Podcast.
0:07.1	What you need is thirst.
0:09.0	You need to be a thirsty human.
0:11.0	Who is intent on learning.
0:13.0	It's a really fascinating exploration of human potential.
0:18.7	The Founder Podcast.
0:21.9	Even the greatest entrepreneurs had help.
0:24.8	If you want to learn from the most successful founders on the planet, you are in the right place.
0:30.5	Branson, Mark Cuban, Tony Robbins, Tim Ferriss, Ariana Humpington, Steve Case, Gary V.
0:34.9	Sophia Amoroso, Barbara Corcoran, Damon John.
0:37.6	Learn from the greatest minds in business today with interviews hosted by Nathan Chan.
0:42.1	This is not your average entrepreneur podcast.
0:45.7	The Founder Podcast.
0:52.8	Hey guys, thank you so much for tuning in. Before we start today's episode, I just want to let you know that our goal at founder is to help entrepreneurs succeed however we can by giving away high quality content in the form of interviews, blog posts, podcasts, YouTube videos, you name it. We put out so much content to help you.
1:13.9	And another interesting project that we're working on right now is partnering with world-class
1:18.7	founders like Damon John, Alexa von Tobel, Greta Van Riel, and so many more to teach crucial
1:24.7	skills like negotiation, finance, e-commerce, and so much more.
1:31.0	So if you'd like to get access to these free trainings with founders like this, which is
1:36.4	100% free, just go to founder.com forward slash free. Okay, so now let's talk about today's
1:43.6	episode. What up founders, startup entrepreneurs,
1:48.5	and business owners. My name is Nathan Chan, and I'm your host coming to you live from
1:54.9	Melbourne, Australia. This is the founder podcast. I had to break up that intro because it didn't feel right, but I had to say it this way
	...

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