Asking Billionaire Investor - Andrew Wilkinson - How To Prepare …
About This Episode
Andrew Wilkinson discusses his strategy for surviving an economic "winter" by maintaining high liquidity and stress testing his companies for worst-case scenarios. The conversation covers the benefits of renting over owning property and how entrepreneurs can incubate new businesses by solving their own P&L pain points.
Episode Description
Show Notes
- 09:30- Stress testing your business for the recession
- 15:40- Andrew's Portfolio
- 30:25- Meeting someone belly to belly and Shaan's folder of sayings
- 33:30- Why to write a book
- 39:10- The value (or lack thereof) of taking random lunches
- 54:05- DealMaker
- 01:00:00- How to get the maximum salary
- 01:05:40- How to lock down for economic winter
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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
- * Bridgebase
- * DealMaker
- * Options Profit Calculator
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- * Want more insights like MFM? Check out Shaan's newsletter.
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Key Takeaways
Stress test your business by modeling a 50-70% revenue drop or delayed accounts receivable to ensure survival and prepare for opportunistic acquisitions during a downturn.
Turn internal P&L expenses into new businesses by identifying services you already need, like procurement or SaaS negotiation, and offering them to other companies.
Optimize for personal freedom and capital efficiency by renting your primary residence and furniture, keeping your net worth liquid and available for high-return business investments.
Business Ideas Mentioned
Salary and Compensation Negotiation Coaching
Agency
High-End Furniture Rental for Secondary Markets
Boring Business
Business P&L and Tax Return React Channel
Content & Media