Andrew Wilkinson, founder of Tiny, shares his journey from $20,000 to a staggering $260 million. He discusses the 'Profit First' approach to financial success and the importance of effective networking. Andrew unveils his unique 'Barnacle on the Whale Strategy' for scaling businesses without traditional marketing. He recounts thrilling experiences, like sending a private jet to a friend and crashing the Oscars afterparty. Their conversation dives into the value of simple business strategies and the power of genuine relationships in entrepreneurship.
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insights INSIGHT
Boring is Sexy
Focus on "boring" business improvements instead of flashy announcements.
These small changes, like raising prices or optimizing packaging, often yield significant profit growth.
question_answer ANECDOTE
Simple Wins
Shaan Puri's video streaming startup focused on complex features, neglecting their profitable birthday alarm app.
Raising prices and implementing Stripe's automatic card updates yielded substantial profit increases for the simple app.
question_answer ANECDOTE
Bakery vs. Job Board
Andrew Wilkinson bought a bakery, a complex business with low profit margins, for sentimental reasons.
His simple job board, WeWorkRemotely, generated significantly higher profits with minimal effort after acquisition and optimization.
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In 'The Laws of Human Nature,' Robert Greene delves into the complexities of human behavior, identifying 18 laws that govern our actions and motivations. Drawing from historical figures such as Pericles, Queen Elizabeth I, and Martin Luther King Jr., Greene provides insights into how to detach from emotions, master self-control, develop empathy, and see beyond people's masks. The book is designed to help readers become better judges of character, manage their thought patterns, and influence others more effectively. It emphasizes the importance of self-awareness and understanding one's own flaws to make better decisions in personal and professional life[2][3][4].
Profit First
Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
Mike Michalowicz
In 'Profit First', Mike Michalowicz introduces a behavioral approach to accounting that flips the conventional formula from 'Sales - Expenses = Profit' to 'Sales - Profit = Expenses'. This system involves taking a predetermined percentage of sales as profit first and then allocating the remainder for expenses. The book provides practical, step-by-step advice and case studies to help entrepreneurs manage their businesses more effectively, ensuring early and sustained profitability and long-term growth.
The 48 laws of power
Robert Greene
In 'The 48 Laws of Power', Robert Greene and Joost Elffers synthesize three thousand years of the history of power into 48 laws. These laws are derived from the philosophies of Machiavelli, Sun Tzu, and Carl Von Clausewitz, as well as the lives of influential figures such as Henry Kissinger and P.T. Barnum. The book provides tactics, concepts, and lessons on how to achieve and maintain power, emphasizing prudence, confidence, and self-preservation. Each law is illustrated with historical examples and is designed to help readers understand and navigate the dynamics of power in various aspects of life, including work, social hierarchies, and politics.
Episode 521:Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) talk to Andrew Wilkinson about the “Profit First” strategy, how to be a master networker, and his Barnacle On The Whale Strategy for growing 10x with zero marketing.
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Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.
My First Million 
