Episode
Getting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
1:13:20
Published: Tue Apr 12 2022
Description
Andrew Wilkinson (@awilkinson) joins Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) to talk about why getting rich slow is better than getting rich quick. They also talk about the five pillars of happiness, how to identify winners, and much more. ----- Links: * https://www.tinycapital.com/ * 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. ----- Show Notes: (00:30) - Sam helps a famous hockey player go viral (07:30) - How Andrew built his social media following (12:00) - Podcast downloads update (14:15) - Getting rich quick vs. getting rich slow (57:20) - How to identify a winner (01:07:30) - The five pillars of happiness ----- 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. ----- 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
Chapters
A man's tweet garnered 10 million reads and 30,000 likes in 24 hours, catapulting his follower count from 20,000 to almost 100,000.
00:00 - 03:16 (03:16)
Summary
A man's tweet garnered 10 million reads and 30,000 likes in 24 hours, catapulting his follower count from 20,000 to almost 100,000.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
Logan Paul has launched a fractional marketplace called "Liquid Marketplace" for collectible sports and Pokemon cards.
03:16 - 06:30 (03:14)
Summary
Logan Paul has launched a fractional marketplace called "Liquid Marketplace" for collectible sports and Pokemon cards. Customers can buy fractional shares of rare items instead of purchasing them outright.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The speaker recounts their podcast's journey to achieving 2 million downloads per month, starting with their initial goal of just reaching 100,000 downloads.
06:30 - 12:34 (06:03)
Summary
The speaker recounts their podcast's journey to achieving 2 million downloads per month, starting with their initial goal of just reaching 100,000 downloads. Through consistent episodes and compounding growth, they were able to surpass their goal without having to stress over it.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
Investing in a business with a 10-12 percent profit and reinvesting that money at 10 percent can lead to a significant return, possibly even reaching $100 million by age 60 with compounding.
12:34 - 16:39 (04:04)
Summary
Investing in a business with a 10-12 percent profit and reinvesting that money at 10 percent can lead to a significant return, possibly even reaching $100 million by age 60 with compounding.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
Pursuing a business model that provides cashflow and buying an already established business have been shown to be a more feasible and less risky path compared to the venture path that can result in zero return or many years of underpaid salaries.
16:39 - 22:30 (05:51)
Summary
Pursuing a business model that provides cashflow and buying an already established business have been shown to be a more feasible and less risky path compared to the venture path that can result in zero return or many years of underpaid salaries.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The guest discusses the importance of identifying and buying companies and owning them in order to grow wealth consistently.
22:30 - 32:01 (09:31)
Summary
The guest discusses the importance of identifying and buying companies and owning them in order to grow wealth consistently. He also provides insights into internet-related businesses worth investing in right now.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The speaker discusses the concept of a lifestyle business versus a moonshot business and the importance of finding a business that both meets your financial goals and fulfills your excitement needs, but also allows you to maintain some level of work-life balance.
32:01 - 38:19 (06:18)
Summary
The speaker discusses the concept of a lifestyle business versus a moonshot business and the importance of finding a business that both meets your financial goals and fulfills your excitement needs, but also allows you to maintain some level of work-life balance.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The speaker shares their experience of always wanting someone to give them a chance and how they met their business partner by taking a risk on them two years into business.
38:19 - 40:51 (02:31)
Summary
The speaker shares their experience of always wanting someone to give them a chance and how they met their business partner by taking a risk on them two years into business.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
In this episode, the host shares the story of an apprentice plumber who helped out during a warehouse theft issue, and how his hard work and dedication saved the day.
40:51 - 44:54 (04:03)
Summary
In this episode, the host shares the story of an apprentice plumber who helped out during a warehouse theft issue, and how his hard work and dedication saved the day.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The podcast discusses a plumber's journey to becoming an entrepreneur and how he initially struggled to transition from being a tradesman to running his own business.
44:54 - 49:10 (04:15)
Summary
The podcast discusses a plumber's journey to becoming an entrepreneur and how he initially struggled to transition from being a tradesman to running his own business. Additionally, the hosts touch upon how some individuals may claim to help but ultimately have other intentions.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The speaker discovered a person with the same signs of the successful people he knows, and he is confident that this person will be a winner.
49:10 - 51:33 (02:23)
Summary
The speaker discovered a person with the same signs of the successful people he knows, and he is confident that this person will be a winner. He is excited to make a checklist of goals to achieve success.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The ability to filter out interesting content from hours of raw material is key to producing a great podcast, and having a partner with a shared sense of what's engaging is crucial for success.
51:33 - 56:26 (04:53)
Summary
The ability to filter out interesting content from hours of raw material is key to producing a great podcast, and having a partner with a shared sense of what's engaging is crucial for success.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The speaker praises Connor's ability to handle messy and disorganized projects and states that he would be the first point of contact for such issues once he has enough operational tasks to delegate.
56:26 - 1:00:50 (04:23)
Summary
The speaker praises Connor's ability to handle messy and disorganized projects and states that he would be the first point of contact for such issues once he has enough operational tasks to delegate.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The speaker discusses how he finds balance in his life by focusing on hobbies like building things, spending time with loved ones, and having new experiences.
1:00:50 - 1:05:13 (04:23)
Summary
The speaker discusses how he finds balance in his life by focusing on hobbies like building things, spending time with loved ones, and having new experiences. Additionally, he emphasizes the importance of doing activities that make one feel tough or gritty once a quarter.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The speaker discusses his aversion to doing household chores and the impact it has on his relationships with his wife and cleaning lady.
1:05:13 - 1:08:38 (03:24)
Summary
The speaker discusses his aversion to doing household chores and the impact it has on his relationships with his wife and cleaning lady. He also shares a tip he received on how to approach these tasks differently.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The guest discusses the impact of TikTok in growing their podcast, citing one example where they gave out money for a video to go viral, resulting in 400,000 views in 24 hours.
1:08:38 - 1:11:12 (02:34)
Summary
The guest discusses the impact of TikTok in growing their podcast, citing one example where they gave out money for a video to go viral, resulting in 400,000 views in 24 hours.
EpisodeGetting Rich Quick Sucks - Andrew Wilkinson Teaches You How to Get Rich Slow
PodcastMy First Million
The speaker reads out some critical comments on a YouTube video regarding sports coverage and the lack of accurate information provided by the speaker.
1:11:12 - 1:12:05 (00:52)
Summary
The speaker reads out some critical comments on a YouTube video regarding sports coverage and the lack of accurate information provided by the speaker.