Episode
Michael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
1:03:37
Published: Tue Jun 28 2022
Description
Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk to tech investor and entrepreneur Michael Girdley (@girdley), about selling fireworks, how to hire great CEOs, and what it takes to operate a successful holding company. Also, want $5,000? Check out the My First Million Clips contest. ----- Links: * Michael Girdley * Near * Alley Corp * Zola * Black Rifle Coffee * Pop Sockets * 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: (05:00) - How rich are you? (08:55) - Which business is the best cash cow? (15:40) - Waste paper mill in China (21:30) - The anti-advice of Berkshire Hathaway (27:05) - Hiring great CEOs (32:50) - What it takes to run a holdco (56:40) - Unpopular opinions ----- 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
Learn about automation tools that can help streamline your sales processes and save you time by automating tedious tasks like contact management and data entry.
00:00 - 01:28 (01:28)
Summary
Learn about automation tools that can help streamline your sales processes and save you time by automating tedious tasks like contact management and data entry.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
The speaker discussed the pressure of presenting financial information without bragging, and the challenges of balancing diverse business ventures.
01:28 - 05:57 (04:28)
Summary
The speaker discussed the pressure of presenting financial information without bragging, and the challenges of balancing diverse business ventures.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
The speaker discusses the benefits of running a cash flow business, such as a coding bootcamp, where he receives monthly income, as opposed to a VC-backed business with a potential for higher upside, but limited income flow.
05:57 - 10:27 (04:30)
Summary
The speaker discusses the benefits of running a cash flow business, such as a coding bootcamp, where he receives monthly income, as opposed to a VC-backed business with a potential for higher upside, but limited income flow.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
The speaker finds joy in helping people through life transformations and mentions Low-Cap X as a means to better job opportunities, which they genuinely believe changes people's lives.
10:27 - 17:04 (06:37)
Summary
The speaker finds joy in helping people through life transformations and mentions Low-Cap X as a means to better job opportunities, which they genuinely believe changes people's lives.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
The host and guest discusses the benefits of seeking unconventional knowledge from things like small business owners and cultural practices.
17:04 - 21:27 (04:22)
Summary
The host and guest discusses the benefits of seeking unconventional knowledge from things like small business owners and cultural practices. The guest shares his experience of starting a coffee business after being fascinated by a drive-through coffee shop near Walmart headquarters.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
The hosts discuss their experience attending the Berkshire Hathaway Annual Shareholders Meeting, where they heard from investing legends Charlie Munger and Warren Buffet, and how their teachings can inform investors today.
21:27 - 25:31 (04:03)
Summary
The hosts discuss their experience attending the Berkshire Hathaway Annual Shareholders Meeting, where they heard from investing legends Charlie Munger and Warren Buffet, and how their teachings can inform investors today.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
The speaker discusses bringing strategy insights, best practices, and connections to a business, which is where their best situations happen through partnering.
25:31 - 32:43 (07:11)
Summary
The speaker discusses bringing strategy insights, best practices, and connections to a business, which is where their best situations happen through partnering. They also discuss the challenges of hiring for certain types of businesses and how that can impact the need for more significant contributions to the company.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
In this episode, the speakers discuss the tension between being an operator and a Holdco person, highlighting that not everyone is wired to be a Holdco person.
32:43 - 37:16 (04:33)
Summary
In this episode, the speakers discuss the tension between being an operator and a Holdco person, highlighting that not everyone is wired to be a Holdco person. They argue that while some people love to operate at a high level, others prefer to live in the idea space instead.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
The speaker admires H-E-B's marketing strategies, particularly their approach in sponsoring events and creating appealing content, without the pressure of meeting quarterly targets imposed by public stockholders.
37:16 - 41:46 (04:29)
Summary
The speaker admires H-E-B's marketing strategies, particularly their approach in sponsoring events and creating appealing content, without the pressure of meeting quarterly targets imposed by public stockholders.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
The founder of a profitable business shares the importance of finding a team you love and incorporating enjoyable activities like cycling into the work day.
41:46 - 48:34 (06:47)
Summary
The founder of a profitable business shares the importance of finding a team you love and incorporating enjoyable activities like cycling into the work day.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
Confidence in your company and belief in your mission is key to success in business, even more so than the belief of top-level executives.
48:34 - 53:52 (05:17)
Summary
Confidence in your company and belief in your mission is key to success in business, even more so than the belief of top-level executives. This can be effectively communicated through personal anecdotes and examples of successful cold emails and growth hacking techniques.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
In this podcast, the host recounts a funny story about how someone used Chili's to name drop during a meeting and how it inspired them to build their own brand.
53:52 - 57:35 (03:43)
Summary
In this podcast, the host recounts a funny story about how someone used Chili's to name drop during a meeting and how it inspired them to build their own brand.
EpisodeMichael Girdley: Why Fireworks Are A Cash Cow and How to Operate a Holdco Worth $100 Million
PodcastMy First Million
Identify a slightly unconventional obsession to add personality to your brand.
57:35 - 1:02:24 (04:49)
Summary
Identify a slightly unconventional obsession to add personality to your brand. It should be genuine and intriguing to others.