Episode
#101 with Ryan Begelman - How to Succeed Applying Private Equity Structure to Startups
56:56
Published: Fri Aug 14 2020
Description
Sam Parr (@theSamParr) and Shaan Puri (@ShaanVP) bring back Ryan Begelman (@ryanbegelman) for round two on the podcast. In today’s episode you’ll hear: Ryan explains his idea on how high-end cooking classes could make you a million dollars a year (3:00), Ryan talks about some of the very first big name celebrities to join Summit Series (8:15), Shaan asks Ryan if Adam Neumann from WeWork took entity structure too far (11:20), Ryan gives his thesis on how you structure a business following “The Virgin Model” (14:10), Shaan asks Ryan to expand on how to create wealth while still having a great life (25:10), Ryan pulls the curtain back on what it’s like to work in big banking and private equity (33:00), Shaan explains his “sell your byproduct” framework (45:12), Ryan outlines how to grow your business without venture capital (48:05), the guys talk about the psychology behind selling a high-ticket item (52:35) Companies and people mentioned: - Ryan Begelman’s website: https://www.ryanbegelman.com/ - Ryan’s companies: https://summit.co/ and https://www.bisnow.com/ - https://websummit.com/ was founded by Paddy Cosgrave (https://en.wikipedia.org/wiki/Paddy_Cosgrave) - Adam Nuemann, WeWork founder: https://en.wikipedia.org/wiki/Adam_Neumann - https://harvesthosts.com/ founded by Joe Holland - Barry Sternlicht (https://en.wikipedia.org/wiki/Barry_Sternlicht) founder of Starwood Capital, and https://en.wikipedia.org/wiki/Baccarat_(company), the company bought. This episode is presented by Tempo! Check them out at tempo.fit and use code "TempoHustle" for $100 off. Joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion. See acast.com/privacy for privacy and opt-out information.
Chapters
The episode discusses buying properties in popular destinations to attract buyers, structuring a business to minimize risk, joint venture waterfalls, and LLC structuring.
00:00 - 04:55 (04:55)
Summary
The episode discusses buying properties in popular destinations to attract buyers, structuring a business to minimize risk, joint venture waterfalls, and LLC structuring.
Episode#101 with Ryan Begelman - How to Succeed Applying Private Equity Structure to Startups
PodcastMy First Million
The importance of having a culture with values and a team of kindhearted and participatory individuals in the workplace is emphasized.
04:55 - 11:23 (06:28)
Summary
The importance of having a culture with values and a team of kindhearted and participatory individuals in the workplace is emphasized. Building transparency and monitoring key performance indicators is crucial to creating a successful business.
Episode#101 with Ryan Begelman - How to Succeed Applying Private Equity Structure to Startups
PodcastMy First Million
Learn from the examples of Barry Stern, creator of the Starwood Property Group, and WeWork to understand the benefits and potential pitfalls of building a media brand and licensing it to individual entities.
11:23 - 18:36 (07:12)
Summary
Learn from the examples of Barry Stern, creator of the Starwood Property Group, and WeWork to understand the benefits and potential pitfalls of building a media brand and licensing it to individual entities.
Episode#101 with Ryan Begelman - How to Succeed Applying Private Equity Structure to Startups
PodcastMy First Million
The costs associated with building a brand include trademark and legal fees, as well as the need to establish trust over time.
18:36 - 23:58 (05:22)
Summary
The costs associated with building a brand include trademark and legal fees, as well as the need to establish trust over time. Virgin is an example of a company that has successfully navigated the process, while the Hustle is still building its brand identity.
Episode#101 with Ryan Begelman - How to Succeed Applying Private Equity Structure to Startups
PodcastMy First Million
Developing essential skills such as communication, sales, persuasion, and digital literacy can help individuals execute their passionate ideas and create successful ventures.
23:58 - 30:39 (06:40)
Summary
Developing essential skills such as communication, sales, persuasion, and digital literacy can help individuals execute their passionate ideas and create successful ventures. It is important to think small and focus on perfecting these skills to prepare for future opportunities.
Episode#101 with Ryan Begelman - How to Succeed Applying Private Equity Structure to Startups
PodcastMy First Million
The speaker discusses the challenges of balancing entrepreneurial ambition without letting it overpower personal life, using Elon Musk as an example of someone who struggles with this balance.
30:41 - 34:00 (03:19)
Summary
The speaker discusses the challenges of balancing entrepreneurial ambition without letting it overpower personal life, using Elon Musk as an example of someone who struggles with this balance.
Episode#101 with Ryan Begelman - How to Succeed Applying Private Equity Structure to Startups
PodcastMy First Million
The guest shares his experience in starting and growing a finance company, including the challenges of building partnerships and the long hours required to achieve success.
34:00 - 39:04 (05:04)
Summary
The guest shares his experience in starting and growing a finance company, including the challenges of building partnerships and the long hours required to achieve success.
Episode#101 with Ryan Begelman - How to Succeed Applying Private Equity Structure to Startups
PodcastMy First Million
The speaker gives advice on how to sell ads, the price ranges of trade expos, newsletters, and conferences, and suggests that innovative individuals can advise others who are stronger in integrating and operating.
39:04 - 45:08 (06:03)
Summary
The speaker gives advice on how to sell ads, the price ranges of trade expos, newsletters, and conferences, and suggests that innovative individuals can advise others who are stronger in integrating and operating.
Episode#101 with Ryan Begelman - How to Succeed Applying Private Equity Structure to Startups
PodcastMy First Million
37signals, a company known for its unique culture, created a spin-off company to teach other businesses how to build happy cultures.
45:08 - 49:06 (03:58)
Summary
37signals, a company known for its unique culture, created a spin-off company to teach other businesses how to build happy cultures. By selling their byproduct, a book about how they run their business, they generated millions of dollars and new customers interested in their approach.
Episode#101 with Ryan Begelman - How to Succeed Applying Private Equity Structure to Startups
PodcastMy First Million
The speaker shares two insights he learned from his business partner: analyzing progress month by month and breaking down tasks into smaller pieces, and not shying away from discussing prices with customers.
49:06 - 54:40 (05:33)
Summary
The speaker shares two insights he learned from his business partner: analyzing progress month by month and breaking down tasks into smaller pieces, and not shying away from discussing prices with customers.
Episode#101 with Ryan Begelman - How to Succeed Applying Private Equity Structure to Startups
PodcastMy First Million
Successful people can struggle in high-level conversations, even in their area of expertise.
54:40 - 56:46 (02:06)
Summary
Successful people can struggle in high-level conversations, even in their area of expertise. The hosts aim to create a conversational flow that is inclusive and engaging for a wide audience, even as they bring up controversial topics.