Episode
#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
1:30:49
Published: Fri Apr 23 2021
Description
Sam (@theSamParr) is joined by Andrew (@awilkinson) to catch up. They spend the first half of the episode talking about the investments they've each made in 2021. Andrew then dives into a more obscure investment he made: a bakery! He explains it's more for fun than profit. Andrew also drops some great hacks: how he saves time on email and how he networks with billionaires. --------- * 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: 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: * (4:24) The entrepreneur lifestyle and the stress that comes with it * (12:45) Sam and Andrew talk about their recent investments * (45:20) Andrew bought a bakery. Here's what he's doing with it * (53:10) How to make your hometown cool * (55:52) Henry Singleton: better than Warren Buffett * (1:02:28) Andrew's email hack and how he donates * (1:11:25) Why Andrew is the king of networking
Chapters
Host emphasizes the amount of work put into podcast preparation, while also promoting a software tool to improve team efficiency in serving customers.
00:00 - 01:25 (01:25)
Summary
Host emphasizes the amount of work put into podcast preparation, while also promoting a software tool to improve team efficiency in serving customers.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The speaker talks about a successful app that made $20-30 million in profit on $50 million in sales and anticipates future growth leading to a million downloads a month later in the year.
01:25 - 05:47 (04:22)
Summary
The speaker talks about a successful app that made $20-30 million in profit on $50 million in sales and anticipates future growth leading to a million downloads a month later in the year. Additionally, the podcast will discuss the host's investment strategies in various companies.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
Dharmesh Shah discusses the pressure to continuously grow and the need to de-stress in order to sustain success.
05:47 - 11:31 (05:43)
Summary
Dharmesh Shah discusses the pressure to continuously grow and the need to de-stress in order to sustain success.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The speaker discusses the universal problem of stress and the importance of having tools to manage it.
11:31 - 16:02 (04:31)
Summary
The speaker discusses the universal problem of stress and the importance of having tools to manage it. They also touch on the relationship between stress and success in building a business.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The potential earnings for a business with 250,000 email subscribers and 2 million social media followers could be $20 million a year in advertising and $10 million a year in user revenue.
16:02 - 21:05 (05:02)
Summary
The potential earnings for a business with 250,000 email subscribers and 2 million social media followers could be $20 million a year in advertising and $10 million a year in user revenue. With a calculated $3 million a year in revenue, it would be an amazing business and financially effective.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
Looking past the initial financial reports of a company can reveal hidden potential in its business model and potential growth, particularly with companies that have been strongly bid upon.
21:05 - 24:05 (03:00)
Summary
Looking past the initial financial reports of a company can reveal hidden potential in its business model and potential growth, particularly with companies that have been strongly bid upon.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The speaker is discussing the unpredictability of cryptocurrency and the pre-money valuations that have been reached.
24:05 - 31:18 (07:12)
Summary
The speaker is discussing the unpredictability of cryptocurrency and the pre-money valuations that have been reached. While exciting, it also alludes to a sense of nervousness regarding investments in this area.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The traditional way of making money through books may not be sustainable in today's market, especially in comparison to interactive courses or other forms of entertainment.
31:18 - 35:20 (04:01)
Summary
The traditional way of making money through books may not be sustainable in today's market, especially in comparison to interactive courses or other forms of entertainment. The rise in popularity of genres like romance and anime among young people, particularly women, could provide a space for more profitable interactive book options.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
A new wait time app for clinics in Canada aims to revolutionize healthcare by providing customers with real-time wait times for clinics across the country, using a unique network of clinics connected with the software.
35:20 - 41:58 (06:38)
Summary
A new wait time app for clinics in Canada aims to revolutionize healthcare by providing customers with real-time wait times for clinics across the country, using a unique network of clinics connected with the software.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The podcast discusses the concept of understanding a moat in investing, and how government-owned healthcare clinics could potentially be a moat.
41:58 - 46:00 (04:01)
Summary
The podcast discusses the concept of understanding a moat in investing, and how government-owned healthcare clinics could potentially be a moat.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The need for physical doctors is an undeniable certainty as they provide a service that cannot be solely replaced by technology.
46:00 - 48:48 (02:47)
Summary
The need for physical doctors is an undeniable certainty as they provide a service that cannot be solely replaced by technology. As a result, medical practices are slow-changing and can provide long term security for investors.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The speaker discusses healthier snack options for kids such as alulose, stevia, and xylitol, which do not cause major blood sugar spikes.
48:48 - 52:05 (03:17)
Summary
The speaker discusses healthier snack options for kids such as alulose, stevia, and xylitol, which do not cause major blood sugar spikes.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The speaker discusses the allure of finding ways to invest small amounts of time and money, particularly in emerging areas such as glucose monitoring.
52:05 - 53:59 (01:53)
Summary
The speaker discusses the allure of finding ways to invest small amounts of time and money, particularly in emerging areas such as glucose monitoring. He finds the idea fascinating, and believes it adds a little bit of value to life.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
A discussion about the potential positive impact of creating a car museum and track for the community, not just satisfying personal interests but also contributing to the city's development.
53:59 - 57:21 (03:22)
Summary
A discussion about the potential positive impact of creating a car museum and track for the community, not just satisfying personal interests but also contributing to the city's development.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
It's a good time to scan your portfolio and businesses to see how you can take advantage of valuations to issue or use stock to buy opportunities in niche markets, like navigation equipment or circuitry.
57:21 - 1:01:08 (03:47)
Summary
It's a good time to scan your portfolio and businesses to see how you can take advantage of valuations to issue or use stock to buy opportunities in niche markets, like navigation equipment or circuitry.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
WeCommerce is building small businesses within the Shopify ecosystem by acquiring and starting businesses that are a mini version of tiny.
1:01:08 - 1:04:00 (02:52)
Summary
WeCommerce is building small businesses within the Shopify ecosystem by acquiring and starting businesses that are a mini version of tiny. The company is doing well in the market and is worth hundreds of millions of dollars.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The speaker talks about the benefits of delegating your email management to an assistant to avoid spending unnecessary time on it and reduce stress.
1:04:00 - 1:07:53 (03:52)
Summary
The speaker talks about the benefits of delegating your email management to an assistant to avoid spending unnecessary time on it and reduce stress. Letting the assistant filter out unimportant emails can ensure that you only focus on the crucial ones.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The speaker talks about recognizing people's thumbnails on Twitter and how it reminds them of their experiences with someone they met through a friend, before discussing how much money they have given away to different organizations so far.
1:07:53 - 1:12:46 (04:53)
Summary
The speaker talks about recognizing people's thumbnails on Twitter and how it reminds them of their experiences with someone they met through a friend, before discussing how much money they have given away to different organizations so far.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The speaker talks about building their network using virtual connections and identifying interesting people on the internet.
1:12:46 - 1:20:44 (07:57)
Summary
The speaker talks about building their network using virtual connections and identifying interesting people on the internet. They also mention connecting with professionals from businesses such as Lowe's, Howard Hughes Corp, and Chipotle.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The speaker discusses the difficulties of social interaction as an introvert, including conversations with uninteresting people and the pressure to engage in small talk.
1:20:44 - 1:23:34 (02:49)
Summary
The speaker discusses the difficulties of social interaction as an introvert, including conversations with uninteresting people and the pressure to engage in small talk.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The speaker recounts meeting an old school car salesman turned successful entrepreneur who wants to invite young entrepreneurs to his huge house in the Hamptons, which was bought for a large sum of money and also featured in the TV show Billions.
1:23:34 - 1:28:22 (04:47)
Summary
The speaker recounts meeting an old school car salesman turned successful entrepreneur who wants to invite young entrepreneurs to his huge house in the Hamptons, which was bought for a large sum of money and also featured in the TV show Billions.
Episode#174 with Andrew Wilkinson - How to Network with Billionaires, Andrew and Sam's Recent Investments, & A Better Investor Than Buffett
PodcastMy First Million
The speaker shares his plans of hosting a dinner party to impress someone and gain legitimacy.
1:28:22 - 1:30:32 (02:10)
Summary
The speaker shares his plans of hosting a dinner party to impress someone and gain legitimacy. He also shares an observation about a company's office with most of its employees working from home.