Selling Deodorant for $100M and How to Find Your Best Competitive Advantage with Moiz Ali
May 17, 2022
01:35:51
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Quick takeaways
Finding your competitive advantage is crucial for business success.
Common mistakes DTC brands make: not focusing on customer needs, excessive PR, and unnecessary expenses.
Stock tips for D2C tech companies.
Real estate investments can be a valuable part of portfolio allocation.
Deep dives
The Benefits of Live Podcast Pitching
The podcast episode discusses the opportunity for start-ups to pitch their companies live on a podcast called 'My First Million'. The live episode is similar to 'Shark Tank', where start-ups present their pitch and receive feedback. The initiative is done in partnership with stonks.com, providing start-ups a chance to raise money. It offers a more realistic and candid approach compared to traditional pitching platforms.
Sibling Dynamics and Podcast Hosting
The podcast episode features a discussion between the host, Shawn, and his brother, Solomon. They talk about their dynamics as brothers and co-hosts on the podcast. Shawn praises his brother's sharp wit and straightforwardness, contrasting it with his own more restrained approach. They also discuss the importance of curiosity and asking the right questions during interviews.
Entrepreneurial Insights from a Successful Founder
The podcast episode features an interview with a successful entrepreneur who started and sold a company called 'Native'. They talk about the principles behind the company's success, such as genuine curiosity, avoiding excessive PR until after the company was sold, and maintaining a focus on customers' needs and feedback. The entrepreneur emphasizes the importance of being cautious with hiring and avoiding unnecessary expenses, like fancy offices. They also share insights on the importance of having a clear, simple plan and staying engaged with the numbers in the business.
Investment Strategies and Evaluating Crypto
The podcast episode briefly touches on the host's investment strategy and portfolio allocation. They mention keeping a significant portion in cash and short-term bonds, as well as investing in real estate, stocks, and start-ups. They express hesitation towards crypto investments, stating that they do not understand the value or have a strong opinion on it. They emphasize the need for unique strategies and competitive advantages when working with private wealth managers, as they have found the available options to be lacking differentiation.
The Importance of Admiring the Right People
Choosing who you admire can greatly influence your own mindset and behaviors. By selecting people who exhibit qualities you admire, you can strive to emulate those qualities in your own life. Admiring individuals who are relentless, optimistic, and always in a good mood can inspire you to adopt similar traits. This also applies to business and investing, where choosing to be actively involved and seeking out opportunities rather than settling for a passive role can lead to greater success and fulfillment.
Breaking Through Walls and Challenging Bureaucracy
Many conventional approaches and beliefs can become invisible walls that limit progress and prevent innovative thinking. Recognizing and challenging these walls can open up new possibilities and lead to breakthroughs. Breaking through bureaucracy and rigid thinking can be achieved by pushing boundaries, thinking outside the box, and being open to unconventional solutions.
The Power of Relentlessness and Optimism
Approaching challenges with relentless determination and optimism can yield impressive results. Embracing a mindset of never giving up and being confident in one's abilities can push through obstacles and achieve success. By admiring and emulating individuals who exhibit unwavering determination and a positive outlook, one can cultivate these qualities to drive personal and professional growth.
The Value of Action and Hands-On Involvement
Taking action and actively participating rather than remaining on the sidelines can lead to greater opportunities and success. Embracing a hands-on approach allows for deeper engagement and enables a better understanding of the intricacies of a project or business. By being involved and invested, one can make more informed decisions and drive meaningful progress.
Shaan Puri (@ShaanVP) sits down with entrepreneur and former CEO of Native, Moiz Ali (@MoizAli), to talk about how to find the competitive advantage for your business, three common mistakes DTC brands make, investment tips and more.
