My First Million

Scott Galloway: Do This In Your 20s To Make Millions In Your 30s

1519 snips
May 6, 2024
Scott Galloway, a NYU marketing professor and bestselling author, shares his unfiltered advice for 20-somethings aiming for financial success. He argues against following mere passion, advocating instead for skill and stability. Galloway discusses the importance of surrounding yourself with successful peers and the advantages of city living. He also emphasizes resilience in facing failures and the balance between wealth and meaningful relationships. With a witty blend of personal anecdotes, he offers a thought-provoking perspective on wealth-building and happiness.
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ADVICE

Follow Talent, Not Passion

  • Follow your talents, not just your passions, for career success.
  • Develop mastery in a field with high employment rates, and passion will follow.
ADVICE

Reverse Engineer Your Exit

  • Design your business for a high-value exit by focusing on niche dominance, recurring revenue, tech integration, international presence, and defensible IP.
  • Scott Galloway used this strategy to build and sell L2 for $160 million.
ADVICE

Prioritize Employee Retention

  • Prioritize employee retention by fostering friendships within your team.
  • Encourage team bonding and create opportunities for them to connect outside of work.
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