Building a calm company with a strong financial engine - Justin Jackson
May 16, 2024
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Justin Jackson, co-founder of Transistor.fm, discusses building a calm company with a strong financial engine. Topics include the importance of the market, calm companies for sustainable growth, family business experiments, and investing strategies.
Success in the digital economy may not always correlate directly with effort, market dynamics play a crucial role.
Balancing financial planning and entrepreneurial risks is essential for building a stable financial engine.
Deep dives
Success of Transistor.fm in the Podcast Hosting Market
Transistor.fm, co-founded by Justin Jackson, has achieved remarkable success in the podcast hosting market, boasting over 27,000 hosted podcasts. Their partnership with a leading podcast has placed them at the top of the charts globally, ahead of renowned shows like Joe Rogan's. Acquiring successful podcasts like Acquired has not only been financially motivating but has also inspired product enhancements for all customers, showcasing the impact of catering to larger shows.
Scaling and Differences with Smaller Indie Podcasts
The podcast discusses the dynamics between large-scale podcasts like Acquired and smaller indie shows. It highlights that success in the digital economy does not always directly correlate with the effort put in. Acquired's exceptional success stems from their detailed research, excellent storytelling, and engaging sponsor partnerships, setting them apart in podcasting with sponsorships bringing substantial revenue.
Importance of Market Dynamics in Business Engines
Justin emphasizes the significance of market dynamics in determining the success of a business engine. Drawing from his experiences in the software and course sales industry, he contrasts the outcomes of efforts based on market demand. Markets with latent demand and existing momentum significantly impact business success, emphasizing the critical role of market choice in entrepreneurial ventures.
Empowering Family Business Involvement and Financial Investments
Justin shares his experiment in involving his children in the family business, engaging them in various projects to impart practical skills and insight into business operations. Additionally, he discusses his strategic financial investments, focusing on angel investments in early-stage companies alongside robust retirement savings, pointing out the importance of balancing financial planning and entrepreneurial risks.
Justin is the co-founder of Transistor.fm, a podcast hosting platform that hosts over 27,000 podcasts. Justin has bootstrapped the business since 2018 and has used it to build a better life for himself and his employees.
Justin was on the pod back in January and we ended feeling like there was left with lots more to discuss, particularly Justin’s thoughts on building a Calm Company and what he plans to do with his life and money.
Timestamps
00:00 Intro
01:40 Having the #1 podcast in the world on Transistor
04:24 Why Acquired is such a top class podcast
08:22 Justin's financial engine metaphor
16:44 Why the market is so important
18:30 Calm companies
27:41 How much the market impacts success
32:03 Justin's family business experiment
41:07 How Justin approaches investing
As always thanks for being a listener of the Make Lemonade show. Hosted by @jrfarr & @jmckinven— brought to you by LemonSqueezy.com.
If you're looking to sell digital products online, be sure to check out Lemon Squeezy or follow us on Twitter @lmsqueezy.
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