The Cashflow King: “Here’s How I Do It”, Negotiating w/ Jeff Bezos, Elon’s Cracked Rocket - Jason Fried

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 20 March 2024

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 564: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) talk to Jason Fried about his 6-Week Sprint playbook, how he’s planning for the end of subscription revenue, and what it’s like to have Jeff Bezos as an investor. Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5 — Show Notes: (0:00) Intro (2:30) Long term planning is a fantasy (8:30) The 6-Week Sprint Playbook (14:00) Does Jason regret selling We Work Remotely? (16:00) Cash flow king (21:00) Taking money from Jeff Bezos (29:30) Who does Jason admire? (33:00) Non-recurring revenue is back (37:00) The Founder Letter Launch strategy (45:30) Campfire v. Slack (50:40) Pile on the wackier stuff early (in life and business) (53:30) Taking financial risks that don't put you at risk (57:00) Where does Jason spend his profits? — Links: • Jason on Twitter - https://twitter.com/jasonfried • Rework - https://tinyurl.com/38mfc66n • 37Signals - https://37signals.com/ • Basecamp - https://basecamp.com/ • We Work Remotely - https://weworkremotely.com/ • Once - http://once.com/ — 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 — 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 Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. — Other episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto • #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • #218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Transcript

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0:00.0	I got four words for you. Self-funded cash cow. That is what today's guest
0:06.8	Jason Freed has built. He's got this company 37 signals. It's been around for
0:10.6	I don't know 25 years and they're very hush
0:13.2	hush about their numbers but the only thing he's ever said
0:15.5	is that they make tens of millions of profit a year and have been doing that
0:17.9	for a long time.
0:18.8	In fact, the investor, Jason Lemkin, once said
0:22.0	that the two greatest self-funded cash cow companies he's ever seen are Craigslist
0:27.2	and 37 signals.
0:28.8	And even better, they do this without setting any goals.
0:31.3	They work only four days a week during the summers and they spend
0:33.5	next to nothing on marketing. And so I was dying to ask Jason three questions.
0:37.1	That's what we did in this episode. I said, how did you build this low stress lifestyle
0:41.6	company that has no goals and no long-term plans. How do you do that as a
0:46.8	CEO? The second thing I asked him was, what was it like being face-to-face with Jeff Bezos when he was
0:52.3	negotiating his deal with him.
0:54.4	And lastly, I want to know the step by step process.
0:57.6	How does he generate massive interest in his products pre-launch?
1:00.2	He's done this over and over again.
1:02.0	He has this strategy where he uses a founder letter.
1:05.2	Pre-launch, and he uses that to generate a lot of interest.
1:07.9	I wanted to understand how he does it.
	...

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