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#203May 25, 20211:11:16

#185 with Andrew Wilkinson - The Secretive Billionaire Who Acqui…

Jorge Paulo Lemann and 3G Capital strategyThe economics of OverStory Media Group and local newsMaternal health and medical advocate business ideasPersonal scorecards for maintaining life balance

About This Episode

Sam Parr is joined by Andrew Wilkinson to profile the business strategies of billionaire Jorge Paulo Lemann and discuss the 'PSD' hiring philosophy. The duo explores the unit economics of local digital news, brainstorms high-end medical service startups, and examines the psychological concept of having 'enough money.'

Episode Description

Sam (@theSamParr) and Andrew (@awilkinson) break down billionaire Jorge Paulo Lemann. Lemann has built his fortune by acquiring consumer businesses and running them profitably by slashing costs. He famously sells all corporate jets when he acquires a company. The guys then get into a brainstorm on Andrew's new media company, how to create healthier babies, and "health managers". --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. ---------

Show Notes

  • * (4:05) Billie of the Week: Jorge Paulo Lemann
  • * (37:25) How Andrew is building a local media business empire
  • * (45:50) How to create a better baby
  • * (51:25) What is a "health manager"?
  • * (59:02) How much money is enough?

Key Takeaways

1

Hire for 'PSD' (Poor, Smart, and Deep desire to get rich) to find high-performing operators who are incentivized by merit-based bonuses rather than pedigree.

2

The local news industry can be disrupted by building a digital-first 'speedboat' model using newsletters and paid ads, avoiding the 'cruise ship' overhead of printing presses and unions.

3

Aggressive cost-cutting should be viewed like 'cutting fingernails'—a constant, recurring necessity to keep a business lean and profitable.

Business Ideas Mentioned

Direct-to-Consumer Maternal Health Optimization

E-commerce

High-End Concierge Medical Advocate

Agency

View all ideas

Featuring

AW

Andrew Wilkinson

27 episodes

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Quick Stats

Duration1:11:16
Guests1
Ideas Discussed2
Topics4