Noah Kagan: 48 Hours to Entrepreneurship — Your Million Dollar Weekend [GREATEST HITS WEEK]

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 25 December 2024

⏱️ 85 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

If you’ve ever thought: “I’d love a business BUT …“I don’t have TIME.” “I don’t have MONEY.” “I don’t have IDEAS.” “I have TOO MANY ideas and I don’t know where to start.” “I’m not technical.” “I’m not creative or artistic.” “I’m not good at sales.” You’re not alone. Countless people don’t start businesses or side hustles for these reasons. And they’re losing thousands — perhaps millions — in opportunity cost. How much could you make if you started a side hustle that eventually scaled into a business? Possibly millions. Today’s guest, Noah Kagan, is living proof. Noah was employee #30 at Facebook. His stock options, if fully vested, would be worth over $1 billion today. (If you want to do the math — his stock options came to 0.1 percent of the company, which has a current market cap of $1 trillion.) But Noah was fired just a couple months before his stock options vested. So rather than getting a billion-dollar payout, he got nothing. He sank into a deep depression, eventually recovering with the help of a therapist who counseled him on how to reframe the experience. Then he rolled up his sleeves and got to work. He became a serial entrepreneur, building multiple businesses. His most successful venture now makes $80 million in gross revenue, and his personal take-home is $3.3 million per year (which comes from a $200,000 annual salary and $3.1 million profit distribution.) His net worth is $36 million. Not a billion, but still not too shabby. Noah recently wrote a book called “Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours.” He sits down with us (in person!) to share: — how to find business ideas — how to overcome objections and rejections — how to scale By the end of the episode, the common objections that you often hear — like “I don’t have time/money/ideas” — will be quashed. Please enjoy! We're sharing this as part of GREATEST HITS WEEK, a 5-day series in which we're sharing 5 episodes, across 5 days, that originally aired at the start of 2024 (January through March). You may have missed it then; enjoy it now. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Merry Christmas! It's December 25th, and as you're unwrapping your presents, you might also be wondering,
0:07.1	how am I going to make more money next year? So that I can give more to charity, put more gifts under the tree,
0:12.8	be more generous, because Christmas Day is a day of giving. It's a day of generosity. And you need
0:18.6	to have in order to give.
0:27.4	To talk to us about creating that abundance, we are sharing this interview with Noah Kagan about how to start a business in one weekend, your million dollar weekend.
0:32.8	This episode originally aired on January 31st of this year, and it's part of Greatest Hitsweek, a five-day series in which we're sharing five episodes that we produced at the start of 2024. You may have missed it then, or you may want a refresher or a reminder. So enjoy it now. Here's Noah Kagan.
0:59.0	Maybe you've always had a business idea, but you don't have time, you don't have money. Heck, maybe you don't have an idea or you have too many ideas, right? For some reason, for a variety of very common obstacles, you have not yet
1:15.4	started that side hustle or that small business. If that's the case, and then if this is
1:20.4	something that you want to do or that you've been thinking about possibly doing, you are
1:24.3	potentially leaving thousands or even millions of dollars on the table in opportunity
1:28.7	cost. And if that sounds like a wild exaggeration, today's guest is here to tell you that it is
1:33.9	not out of the norm. It is in fact highly possible. Today's guest runs a company that he founded
1:41.0	that does $80 million in gross revenue.
1:47.0	The company takes home between $6 to $7 million in profit. He personally earns about $3.3 million of that per year.
1:52.1	So he has a net worth of $36 million, and it came from starting a business.
1:55.7	And he's here to talk to you about how you can take the lessons that he's learned growing this thing from scratch and apply that in your life to any business that you want to start.
2:07.6	Welcome to the Ford Anything Podcast, the show that understands you can afford anything but not everything.
2:13.6	Every decision carries a trade-off. Saying yes to something implicitly means you're saying no to something else.
2:21.3	And that doesn't just apply to your money.
2:23.3	It applies to all limited resources.
2:25.3	Your time, your effort, your attention, anything that you need to manage.
2:29.3	What matters most and how do you make decisions accordingly?
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Paula Pant | Cumulus Podcast Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Paula Pant | Cumulus Podcast Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.