Andrew Wilkinson: The Hardest And Easiest Businesses To Start
About This Episode
Andrew Wilkinson joins the hosts to discuss the hierarchy of business difficulty, contrasting the high-stress nature of brick-and-mortar operations like bakeries with the efficiency of 'easy' businesses like digital job boards. The episode also explores the operational philosophy of Warren Buffett and the importance of maintaining independent conviction in the face of celebrity investment trends.
Episode Description
Show Notes
- 03:20- Mr. Business Builder
- 06:30- Automatic revenue - Pixel Union
- 12:05- Warren Buffett letter
- 16:35- Bored of investing / AeroPress
- 23:55- Cat furniture
- 25:10- Hardest to easiest business to start
- 33:35- Business idea to capitalize on
- 37:05- New business
- 50:35- Fraudsters
- 01:00:40- non-binary term sheet
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- 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.
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- Additional 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
Links
- * Tiny
- * Pixel Union
- * Warren Buffett letter
- * AeroPress
- * Metalab
- * We Work Remotely
- * Tenzing.co
- * Mealime
- * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.
- * Want more insights like MFM? Check out Shaan's newsletter.
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Key Takeaways
Avoid 'spreadsheet investing' by recognizing that financial improvements often require complex human and operational changes that are invisible on a balance sheet.
Prioritize 'verb' businesses or products with high passion and longevity, such as AeroPress, which benefit from organic word-of-mouth and terminal value.
Do not outsource your conviction to 'smart money' investors, as their risk profiles, fee structures, and time horizons often do not align with individual investors or founders.
Business Ideas Mentioned
Hyper-Targeted Advertising Sniper Rifle
SaaS
DTC Carbonated Beverage Machine
E-commerce