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.
Building valuable connections through genuine interest and finding common ground is crucial for networking.
True value in networking comes from earning your way into a room and having something to offer in influential environments.
Establishing sincere connections, researching interests, and providing value are key to developing meaningful relationships in networking.
Deep dives
Building a Valuable Network
Andrew Wilkinson is known for his ability to network and build valuable connections. He actively reaches out to interesting people and finds common ground to connect with them. His strategy involves being humble, open, and genuinely interested in others. He is not afraid to spend money or go the extra mile to meet and connect with influential individuals. Wilkinson understands the importance of building a valuable network and actively seeks opportunities to do so.
The Power of Networking
Wilkinson believes that networking is a valuable asset and understands the potential benefits it can bring. He mentions examples of reaching out to successful entrepreneurs like Dan Gilbert and Bill Ackman. By showing genuine interest, finding common ground, and respectfully approaching these individuals, Wilkinson has been able to develop connections and cultivate relationships with influential people.
Earning Your Way into a Room
Wilkinson emphasizes the importance of earning your way into a room rather than simply buying your way in. While he has had unique experiences like attending the Oscars and Vanity Fair after party, he acknowledges that true value is being able to contribute and have something to offer in those environments. He uses these experiences as opportunities to learn and grow, understanding the importance of having something to bring to the table in influential settings.
Finding Common Ground
Wilkinson's approach to networking focuses on finding common ground and genuine connection points with individuals he seeks to connect with. He takes the time to research and understand their interests, values, and goals. By establishing sincere connections and providing value, Wilkinson has been able to develop meaningful and mutually beneficial relationships.
Maximizing Business Potential with Peer Groups and Community
The podcast episode discusses the importance of peer groups and communities for startup founders. The host shares their experience with starting a peer group called Hampton, where startup founders with similar companies can meet monthly and gain new perspectives on their businesses. They highlight the benefits of networking and learning from others who have achieved success in similar areas. Additionally, they mention hosting events, dinners, and retreats to facilitate networking opportunities. Overall, the episode emphasizes the value of connecting with like-minded entrepreneurs to foster growth and gain valuable insights.
The Power of Being a Barnacle on a Whale
The episode delves into the concept of being a 'barnacle on a whale' in the business world. The host describes their experience with creating themes for Shopify's marketplace and reaping the benefits of free marketing as the platform grew. They highlight the advantage of aligning with larger companies or software ecosystems that can provide exposure and traffic without the need for extensive marketing efforts. This strategy is seen as a way to run a highly profitable business by minimizing marketing costs. The host suggests looking for opportunities in less saturated software ecosystems, such as Discord or AddAppar, to capitalize on this strategy and maximize success.
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.
