Episode
#111: Should You Start a ’Startup’ or Build a Cash-Flow Business?
Description
"I should be used as a mercenary, not a lifer." - Tim Ferriss In this episode, we have a change of pace... Expa (@expa) is a startup studio. It was founded by Garrett Camp, who co-founded Uber. Every once in a blue moon, they put together a night of education. I was invited to participate. In this episode, I discuss the topic of startup design vs. lifestyle design. Some of you may be aware that I've been involved with various startups ranging from Uber to Facebook, Twitter and DuoLingo, and other businesses that have grown to more than 100 million users and customers. Simultaneously, I have written many times about lifestyle design, and I've suggested that it should come before career planning. The question is, how do we reconcile these two different approaches to business? Should you focus on building your muse and creating cash-flow focused business to fuel your ideal lifestyle...or should you swing for the fences and bet it all on a startup that is equity driven? This podcast explores these topics -- and many more -- and aims to answer the questions that I think are under-examined. Show notes and links for this episode can be found at www.fourhourworkweek.com/podcast. This podcast is brought to you by 99Designs, the world’s largest marketplace of graphic designers. Did you know I used 99Designs to rapid prototype the cover for The 4-Hour Body? Here are some of the impressive results. Click this link and get a free $99 upgrade. Give it a test run... This podcast is also brought to you by Wealthfront. Wealthfront is a massively disruptive (in a good way) set-it-and-forget-it investing service, led by technologists from places like Apple and world-famous investors. It has exploded in popularity in the last 2 years, and now has more than $2.5B under management. In fact, some of my good investor friends in Silicon Valley have millions of their own money in Wealthfront. Why? Because you can get services previously limited to the ultra-wealthy and only pay pennies on the dollar for them, and it’s all through smarter software instead of retail locations and bloated sales teams. Check out wealthfront.com/tim, take their risk assessment quiz, which only takes 2-5 minutes, and they’ll show you—for free–exactly the portfolio they’d put you in. If you want to just take their advice and do it yourself, you can. Or, as I would, you can set it and forget it. Well worth a few minutes: wealthfront.com/tim. Mandatory disclaimer: Wealthfront Inc. is an SEC registered Investment Advisor. Investing in securities involves risks, and there is the possibility of losing money. Past performance is no guarantee of future results. Please visit Wealthfront dot com to read their full disclosure.***If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!For show notes and past guests, please visit tim.blog/podcast.Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.For transcripts of episodes, go to tim.blog/transcripts.Interested in sponsoring the podcast? Visit tim.blog/sponsor and fill out the form.Discover Tim’s books: tim.blog/books.Follow Tim:Twitter: twitter.com/tferriss Instagram: instagram.com/timferrissFacebook: facebook.com/timferriss YouTube: youtube.com/timferrissPast guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Chapters
In this episode of The Tim Ferriss Show, Tim is joined by Catharine Dockery to discuss startup and investing criteria and to talk about Dockery's latest investment.
00:00 - 39:19 (39:19)
Summary
In this episode of The Tim Ferriss Show, Tim is joined by Catharine Dockery to discuss startup and investing criteria and to talk about Dockery's latest investment.
Episode#111: Should You Start a ’Startup’ or Build a Cash-Flow Business?
PodcastThe Tim Ferriss Show
The speaker discusses the potential of technology for broadening markets and the importance of looking at effective leaders outside of the tech industry for tactics and strategies.
39:19 - 48:48 (09:29)
Summary
The speaker discusses the potential of technology for broadening markets and the importance of looking at effective leaders outside of the tech industry for tactics and strategies. They also discuss the use of sneaky tactics to motivate people to do things they don't want to do.
Episode#111: Should You Start a ’Startup’ or Build a Cash-Flow Business?
PodcastThe Tim Ferriss Show
The podcast host shares how each of his guests has served a specific purpose for him, from enjoying the conversation with Brene Brown to gaining insights about the real world MBA investing.
48:48 - 54:40 (05:51)
Summary
The podcast host shares how each of his guests has served a specific purpose for him, from enjoying the conversation with Brene Brown to gaining insights about the real world MBA investing.
Episode#111: Should You Start a ’Startup’ or Build a Cash-Flow Business?
PodcastThe Tim Ferriss Show
The speaker discusses the advantages and potential pitfalls of pursuing one main passion versus having multiple interests and building a portfolio of businesses.
54:40 - 1:03:08 (08:28)
Summary
The speaker discusses the advantages and potential pitfalls of pursuing one main passion versus having multiple interests and building a portfolio of businesses.
Episode#111: Should You Start a ’Startup’ or Build a Cash-Flow Business?
PodcastThe Tim Ferriss Show
The speaker discusses the importance of having a proper team and investors, and avoiding the fear of missing out.
1:03:09 - 1:07:32 (04:23)
Summary
The speaker discusses the importance of having a proper team and investors, and avoiding the fear of missing out. He recommends using a playbook to help scale a startup.