Episode
Greatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
1:23:12
Published: Mon May 03 2021
Description
Suli Ali is one of the most interesting founders we’ve had on the pod. Suli and his brother Moiz have started and sold $300m worth of companies. They’ve also invested in hundreds of big-name startups, thousands of real estate deals, and much more more. He built small, silly apps. Like a Facebook app survey where you voted “most likely to wear a bunny costume”. Yet...it turned into a huge success. How? When he sold his first company, it was doing $85 million in revenue and $15 million in profit. In this episode, we discuss his journey from making $76k a year at Microsoft to selling his first company for $100,000,000+. --------- * 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: * 8:05 - Shaan predicted this podcast would be successful...he was right! * 9:55 - Suli’s parents encouraged him to start a company...and why that’s important. * 24:25 - Meeting Naval - is he legit? * 27:25 - Getting grilled by Keith Rabois * 41:25 - Listen to Suli’s confidence and how he explains starting stuff and how he deals with downs. * 1:02:25 - Risking his life savings to make his company work (then selling it for $100m).
Chapters
In this episode of My First Million, the hosts rewind to their very first episode and give an update on their progress since then.
00:00 - 01:02 (01:02)
Summary
In this episode of My First Million, the hosts rewind to their very first episode and give an update on their progress since then. The episode focuses on the use of HubSpot as a modern CRM for growing businesses looking for the best bang for their buck.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
Sule shares his journey of leaving a high-paying job at Microsoft to start his own company, which eventually sold for $100 million.
01:02 - 06:10 (05:08)
Summary
Sule shares his journey of leaving a high-paying job at Microsoft to start his own company, which eventually sold for $100 million. Listeners will gain insights into Sule's mindset and the frameworks he used to build his successful business.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The podcast host invites guests with incredible entrepreneurial success stories to motivate listeners who dream of starting their own business someday.
06:10 - 09:48 (03:37)
Summary
The podcast host invites guests with incredible entrepreneurial success stories to motivate listeners who dream of starting their own business someday. This discussion with a guest who has started and sold multiple companies and invested in others aims to inspire the audience towards their ambitions.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The speaker shares his desire to buy a tea garden in Bangladesh as his legacy for generations to come, generating revenue and employment for hundreds of years.
09:48 - 12:45 (02:56)
Summary
The speaker shares his desire to buy a tea garden in Bangladesh as his legacy for generations to come, generating revenue and employment for hundreds of years.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The bubble of a big company can limit your mindset whereas Silicon Valley is great for those who want to be surrounded by like-minded people who want to continue to expand their skill sets.
12:45 - 20:09 (07:24)
Summary
The bubble of a big company can limit your mindset whereas Silicon Valley is great for those who want to be surrounded by like-minded people who want to continue to expand their skill sets. Working in a smaller team or startup can often provide opportunities for greater growth.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The speaker details their experience at Microsoft and how they found joy in work through creating comedic superlatives, which brought a sense of appreciation and approval from their colleagues, unlike previous experiences.
20:09 - 24:18 (04:08)
Summary
The speaker details their experience at Microsoft and how they found joy in work through creating comedic superlatives, which brought a sense of appreciation and approval from their colleagues, unlike previous experiences.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The host describes how he met with Naval Ravikant, founder of Angel List, who impressed him with his insights and practical advice regarding growth strategies.
24:18 - 27:04 (02:45)
Summary
The host describes how he met with Naval Ravikant, founder of Angel List, who impressed him with his insights and practical advice regarding growth strategies.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The co-founder of Slide, Max Levchin, talks about his experience of understanding the term sheet and realizing his potential as an engineer or product manager at the Slide team.
27:04 - 31:16 (04:12)
Summary
The co-founder of Slide, Max Levchin, talks about his experience of understanding the term sheet and realizing his potential as an engineer or product manager at the Slide team. He also discusses the future of commerce on Facebook.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
After making mistakes as first-time entrepreneurs, the founders sought out to talk to people in their space, attend events and conferences to see if they could catalyze an acquisition or chemical reaction for their product.
31:16 - 37:30 (06:13)
Summary
After making mistakes as first-time entrepreneurs, the founders sought out to talk to people in their space, attend events and conferences to see if they could catalyze an acquisition or chemical reaction for their product. They hoped to create a compelling social platform that could go viral, much like their previous success with Superlatives.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
Confidence in entrepreneurship can ebb and flow depending on various factors, such as investor confidence or mentor feedback.
37:30 - 43:29 (05:58)
Summary
Confidence in entrepreneurship can ebb and flow depending on various factors, such as investor confidence or mentor feedback. Inexperience in a specific business area can also lead to quickly realizing knowledge gaps.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The successful entrepreneur behind TinyCo, a mobile gaming company generating hundreds of thousands of dollars in monthly revenue, credits his achievements to building a talented team.
43:29 - 47:08 (03:38)
Summary
The successful entrepreneur behind TinyCo, a mobile gaming company generating hundreds of thousands of dollars in monthly revenue, credits his achievements to building a talented team.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
Entrepreneurs may lie to themselves about the reality of their business, especially when dealing with investors or employees.
47:08 - 54:08 (07:00)
Summary
Entrepreneurs may lie to themselves about the reality of their business, especially when dealing with investors or employees. However, outside guidance from venture capitalists can help reveal the truth, allowing for better decision-making and avoiding financial loss.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The key to ensuring the success of a business is to create a deck or memo that outlines why it will work, as well as any potential challenges and how to overcome them.
54:08 - 1:00:39 (06:30)
Summary
The key to ensuring the success of a business is to create a deck or memo that outlines why it will work, as well as any potential challenges and how to overcome them. One challenge many businesses face is how to acquire millions of users without spending millions of dollars on advertising.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The team at Fox agreed to a $20 million dollar deal with the makers of Family Guy to retain the show's license, fearing competition from other networks.
1:00:39 - 1:04:54 (04:14)
Summary
The team at Fox agreed to a $20 million dollar deal with the makers of Family Guy to retain the show's license, fearing competition from other networks.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The speaker emphasizes the importance of making their game profitable and keeping the company alive.
1:04:54 - 1:08:55 (04:00)
Summary
The speaker emphasizes the importance of making their game profitable and keeping the company alive. However, they faced challenges of not being able to pay certain people, causing some to quit despite their conviction to win the battle.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The founder of a struggling company risked his personal net worth by investing a million dollars in the company, despite being rejected by investors.
1:08:55 - 1:12:46 (03:50)
Summary
The founder of a struggling company risked his personal net worth by investing a million dollars in the company, despite being rejected by investors. The risky move paid off as the company was later acquired by Twitter for millions of dollars.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The speaker reflects on how their perspective shifted from placing importance on personal wealth to finding joy and pride in the success of others, especially in the workplace.
1:12:46 - 1:17:51 (05:05)
Summary
The speaker reflects on how their perspective shifted from placing importance on personal wealth to finding joy and pride in the success of others, especially in the workplace. They share their experience of being part of a company that was eventually acquired by Procter and Gamble for a nine figure transaction when it was generating 85 million in revenue and had a team of 150 people.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
The culture of Silicon Valley encourages individuals to will their hands and mind to make things that matter, regardless of skill set or experience.
1:17:51 - 1:21:52 (04:00)
Summary
The culture of Silicon Valley encourages individuals to will their hands and mind to make things that matter, regardless of skill set or experience. In the next 20 years, the focus will shift towards hacking our bodies, genetics, and designing babies before birth.
EpisodeGreatest Hits #1 - Turning it Around: From Failure to a $100m+ Success
PodcastMy First Million
In this podcast, the host discusses the struggle of discipline, specifically when it comes easily to others but not to yourself.
1:21:52 - 1:22:35 (00:42)
Summary
In this podcast, the host discusses the struggle of discipline, specifically when it comes easily to others but not to yourself. They speak with a guest who provides insight on how to overcome this challenge.