The Risks I Took to Grow My Business (Including Smuggling!) - Tyler Jorgenson

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

The Rich Dad Company

Entrepreneurship, Business, Investing

4.1 • 3.9K Ratings

🗓️ 14 April 2025

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Entrepreneurship is a wild ride—you think you’re scaling smoothly, and BAM! A curveball hits. That’s exactly what happened to me. In this episode, I share the unexpected challenges my business faced when it took off in Canada and how we problem-solved on the fly. From shipping nightmares to retail opportunities that forced us to think on our feet, this journey taught me that growing pains are part of the game. The key? Stop overthinking, take action, and learn as you go!

Key Takeaways

Growth brings challenges – More sales, more problems. But that’s a GOOD thing!
Creative problem-solving is key – Google is your best friend.
Think fast, pivot faster – When one solution fails, find another.
Mistakes are part of the process – The sooner you embrace them, the faster you grow.
Entrepreneurship = Freedom – But only if you build your business around your life, not the other way around

Chapters
00:06 – Growth is amazing... until the challenges hit
00:43 – Canada takes off! But wait—duties, taxes, and shipping headaches
01:30 – Creative distribution: Find a friend, ship in bulk, and dominate
02:50 – A major retailer wants in... but we weren’t ready!
04:15 – The border nightmare: How a Craigslist driver saved (and almost sank) us
05:48 – The hard truth: Doing things the right way takes time
07:30 – Lessons from the trenches: Stop overthinking and start DOING
08:41 – The real reward: Freedom over everything

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Disclaimer: The information provided in this episode is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.

The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.

Transcript

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0:00.0	Getting a business that works and starting to scale is great.
0:03.7	Until you hit unexpected challenges.
0:06.5	That's what happened with me.
0:07.9	So earlier in the previous two episodes, I shared with you how the business that we started,
0:14.5	how I used entrepreneurship to get me out of a really tough situation and how the business started to make money.
0:20.8	What I wasn't expecting is that as we started to grow, we were going to face kind of crazy
0:25.7	challenges.
0:26.6	You're listening to the Rich Dad Radio Show, the good news, the bad news about entrepreneurship.
0:31.6	Here's your host, Tyler Jorgensen.
0:33.7	One of the first things that happened was the business started to take off in Canada.
0:40.6	I wouldn't have guessed that that was going to happen.
0:42.8	But here's the thing with entrepreneurship.
0:44.5	You don't know what's going to happen.
0:46.8	And so the business started to do really well.
0:50.5	We were selling a product all across the United States and we started to get an growing
0:55.8	an increasing number of buyers in Canada. Apparently we were one of the few people willing to ship
1:02.5	there. There were some unique challenges dealing with duties and taxes and all kinds of stuff and
1:07.6	we navigated each one as it came across. And we started doing so much
1:13.4	business in Canada that we actually opened up distribution there. I worked with a friend of mine.
1:18.4	By distribution, I mean, I found an old buddy of mine who lived in Canada and said, hey, do you
1:25.1	want to make a few extra bucks? And we would ship product up in bulk to him.
1:28.7	And then him and his family would ship the product out to the customers. And this was really cool
	...

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