How I Made My First $1M - The Andrew Wilkinson Story

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 5 July 2024

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 604: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) talk to Andrew Wilkinson ( https://x.com/awilkinson ) about how he went from a $6.50/hr barista to millionaire in just 4 years. — Show Notes: (1:00) From barista to billionaire (1:40) Andrew’s 1st level up: From day job to self employed (3:26) Shaan 1st money made as an entrepreneur (4:40) Sam’s 1st money as an entrepreneur (7:15) Andrew’s 2nd level up: From self employed to boss (8:40) From selling your time to selling other people's time (9:30) Book: The E-Myth (Thinking of your business as a machine) (10:10) Andrew makes his first million dollars profit (12:00) Robert Kiyosaki’s cashflow quadrant (13:20) Andrew’s 3rd level up: Incubating Businesses - The decathlon of failed businesses (17:00) Andrew sells one of his businesses and creates a nest egg (18:45) Andrew discovers Warren Buffet’s teachings and starts learning to invest. (19:48) Andrew's 20% rule (20:33) Sam's pauper tendencies (22:58) Andrew starts angel investing (24:00) Andrew starts hiring CEOs and removes himself from his businesses (28:30) Poker v Roulette in investing (31:20) Andrew’s 4th level up: Taking his company public and reaching the end goal. However money didn’t buy happiness. (33:46) What’s the actual amount that will make you happy? (34:37) Business is a good way to build relationships (35:35) Figuring out your annual burn rate (36:48) The goals every entrepreneur should have. Launchpad. Enough. Life’s Work (38:23) $10M = financial freedom (41:28) It doesn’t take a special skill set to get to financial independence (46:41) Shaan’s learns about the deferred life plan — Links: • Never Enough - https://www.neverenough.com/ (⬅️ Andrew’s book!) • The E-Myth - https://shorturl.at/h7Q1J • Rich Dad Poor Dad - https://shorturl.at/S28Dd • How To Get Rich - https://shorturl.at/pGTSm — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

Transcript

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0:00.0	I was making a small amount of money for something I hated,
0:03.3	and then I started making a large amount of money for something I would have done anyway.
0:07.3	Like it was fun. All right, what's up? We got our friend of the house, Andrew Wilkinson here.
0:19.6	Andrew famously is the co-founder of Tiny.
0:23.4	He started off as a barista,
0:25.7	ended up creating a design agency that was super,
0:28.1	super successful, designed Slack
0:30.3	and a bunch of other popular Silicon Valley products that you may have used,
0:34.0	started buying businesses, read about Warren Buffett, read about Charlie Munger,
0:37.2	started buying businesses now owns, so I can not a portfolio of 30 plus companies I think
0:41.6	and recently took the company public and then stepped down to CEO and
0:45.2	Andrew is here on his vacation tour after stepping down to CEO Andrew good to see you man
0:50.4	Your skin looks great the glow looks good good. You seem happy. You got that
0:54.2	non-operator glow. All right let's take a quick break. I gotta tell you you ever seen those
0:59.6	Coachella posters where it's got all the artist's names and you're like oh my God
1:03.4	wow they got you know Fred again and Skril X and this that's what the HubSpot
1:07.7	inbound conference looks like listen to the speaker list that they have I
1:10.6	don't know how they pull this off but listen to this. Ryan Reynolds,
1:13.7	Serena Williams, Kara Swisher, Matt Wolf, Darmesh, they got Brian Halligan, they got tons of
1:18.6	good speakers at HubSpot's inbound. It's coming up. It's September 18th to the 20 20th it's live in Boston and it's where you go if you want to learn
1:25.7	marketing sales AI trends you want to know where the puck is going so that you can be there
1:29.9	before everybody else tons of great talks on stage where you're going to learn
	...

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