The Build a Bigger Business competition offers million dollar businesses a chance to grow the fastest 10x to 20x with big prizes up for grabs. Past winners include Gymshark, now a billion-dollar brand, and judges include Seth Godin and Gary V.
The guest explains that investing in businesses and identifying profitable businesses can lead to greater returns than creating businesses and discusses that they saw a return of 40% doing so.
The price of goods in the marketplace is like an economic nerve signal that coordinates human action across time, based on the collective subjective demand and purchasing power of humanity and the objective supply of capital and resources.
The podcast discusses a hybrid approach to entrepreneurship inspired by franchise businesses that is cost-effective and can be run from home. By building trust, gaining a following, establishing a pricing page and ensuring a strong regional impact, entrepreneurs can succeed in the modern age.
The concept of thinking ahead and envisioning what the world would look like in the next 20, 30, or 50 years is crucial for success. Bitcoin can serve as a proxy for time, offering insights into the long-term future of the global economy and technology.
Building a world-class product and a couple of customers who are blown away is all it takes to raise money. Startups should expect a six to 15 million evaluation for a product in the market and 50 to 100 times yearly revenue.