The Architecture of Scale: Building a $200m Business | David Segal

The Knowledge Project with Shane Parrish

Farnam Street

Business, Investing, Entrepreneurship

4.7 • 2.9K Ratings

🗓️ 16 April 2024

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

From a single storefront to a $200M enterprise, David Segal reveals the sophisticated frameworks behind building a category-defining business.

Learn the counterintuitive principles that separate exceptional operators from average founders, including the hidden challenges of success and the strategic tension between working in versus on your business.

A look into the mind of a builder who has mastered both the science of operations and the art of scale. And watch in real-time as he does it again with Firebelly Tea.

TKP listeners can receive a special 15 percent discount on Firebelly Tea products by visiting www.firebellytea.com and entering the code Shane15 at checkout.

Newsletter - I share timeless insights and ideas you can use at work and home. Join over 700k others every Sunday and subscribe to Brain Food. Try it: https://fs.blog/newsletter/

My Book! Clear Thinking: Turning Ordinary Moments into Extraordinary Results is out now - https://fs.blog/clear/

Follow me: https://beacons.ai/shaneparrish

Join our membership: https://fs.blog/membership/

(00:00) Intro

(04:59) What entrepreneurship is

(07:10) How to manage your psychology

(10:40) Yearly planning, daily action

(15:50) Avoiding "ivory-tower syndrome"

(18:30) Segal's childhood and background

(25:15) The history of DAVIDsTEA and Firebelly

(36:40) The evolution of tea and business over the last twenty years

(42:30) On failures

(49:00) Dealing with depression

(52:30) Lessons about money

(56:55) Business and life lessons from Warren Buffett

(1:00:00) On time management

(1:04:50) What's missing in Segal's life

(1:08:39) On success

Transcript

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0:00.0	There is no shortcut for the work, period.
0:05.0	There's no magic pill, there's no magic elixir.
0:09.0	It's about habits.
0:10.0	You have to do things even when you don't want to do them. You have to get up and go for that run even though you don't want to.
0:17.0	I mean it's really easy when you've had 10 hours of sleep and the sun is shining and it's and it's warm outside it's really easy to go for that run or or put on that
0:27.5	smile or whatever it is like you know that's that's where it's easy where it's hard
0:31.7	is it's when you know you had six hours to sleep
0:34.9	and you're not feeling great and you're feeling sluggish and
0:37.6	and that's actually when you need to do it. And the Welcome to the Knowledge Project a podcast about mastering the best of what other people have
1:00.4	already figured out so you can apply their insights to your life.
1:04.2	I'm your host, Shane Parish.
1:06.3	A quick favor to ask before we start.
1:08.6	Most people listening on Apple Podcasts or Spotify haven't yet hit the follow button.
1:13.0	If you can hit the follow button now, I would appreciate it.
1:16.0	The more people who follow the show, the better the guests we can get.
1:19.0	Thank you and enjoy the conversation.
1:22.0	If you'd like access to the episode before everyone else,
1:24.9	my thoughts and reflections at the end of episodes,
1:28.0	member only episodes, hand-edited transcripts,
1:30.9	or you just want to support the show you love, join at FS.
1:34.3	slash membership.
1:35.3	Check out the show notes for a link.
	...

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