Wealth creation and management for entrepreneurs in the 2020s :: with Aryeh Sheinbein

In this episode of Ventures, my guest Aryeh Sheinbein (https://www.instagram.com/aryehthebusinessman) and I discuss a unique approach to financial management for entrepreneurs in light of a rapidly changing tech landscape. While we talk often about venture building and investing on this show, we haven’t yet - until this episode - helped guide entrepreneurs about what to do personally once money is being made. There are a ton of wealth managers out there who bombard entrepreneurs with inbound requests to meet - especially once signs of success start happening - so we talk about how to prepare for that event and plan to navigate the attention. Overall, entrepreneurs today have many new avenues for generating income, and my conversation with Aryeh - who approaches wealth management differently as an entrepreneur/investor himself - is a refreshing perspective on how to approach the topic and mindset.

Visit https://satchel.works/@wclittle/ventures-episode-72 for detailed notes and links to resources (videos, articles, etc…) mentioned. 

You can watch this episode via video here. 

2:14 - Tee-up for why this episode’s discussion is important and relevant for Ventures.

2:41 - Aryeh’s introduction and background (investment banking, VC, entrepreneur, wealth advisor)

5:50 - People are finding creative ways in Web3 today. In what kinds of markets did Aryeh see entrepreneurs making money the last couple of decades?

8:40 - Now a “decacorn” is the new target ($10B valuation company)

9:33 - A bit of Will’s story, learning to code, building web1 and web2 ventures. On the topic of side business, new tricks to generate wealth, etc… what should entrepreneurs think about as their ventures start becoming successful financially?

16:20 - Will’s story of his son asking him “Hey Dad, what should I invest in?” // How would Aryeh answer this question for today’s youth? 

24:55 - “The thing to do is to just do the thing”

25:30 - Discussion about how to think about investing in ourselves as entrepreneurs? “At what point do I quit the day job?”

33:47 - Educating the audience on what they are going to hit up with regarding wealth managers talking to seemingly successful entrepreneurs. 

40:29 - The pitch for solutionadvisory.com, and finding Aryeh online https://www.instagram.com/aryehthebusinessman 

41:30 - Parting words of wisdom :) If you have time on your side, you can make mistakes. You should also understand your big picture. In a perfect world, where would you want to be and what would you want to be doing? You can then develop a plan to get there.