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Hunk Club believes that finding talent is all about trusted networks. Their tech-enabled search model leverages a large community to refer amazing talent. They also offer a software platform called Atlas, which helps companies map out their network and streamline introductions.
Both hosts discuss the importance of having side projects. Ben shares that his side projects have always been additive to his main job and have helped build his credibility and expertise. David emphasizes the value of pursuing multiple interests and nurturing one's side projects with a long-term mindset.
The hosts reflect on the compounding nature of podcasting and its unique ability to build a loyal audience over time. They discuss how each episode adds to the podcast's subscriber base, leading to continued growth and an increasing distribution network.
The hosts acknowledge the role of luck in their success, highlighting that podcasting was not widely popular when they started. They recognize the importance of choosing the right niche and industry and the fortunate timing that allowed their podcast to stand out in the market.
A recurring theme observed in successful companies is that the personality and culture of the organization reflect that of the founder. The organizations are an extension of the founder's will and vision. This singular vision and focus create force multipliers within the organization, allowing them to align all aspects of the business towards a common goal.
Successful acquisitions are often those that open up new business opportunities rather than focusing on cost-saving consolidation. Acquiring companies that have the potential to generate net new revenue allows for infinite upside in revenue generation. It is essential to recognize the long-term potential and avoid being solely focused on short-term cost savings.
Concentration in investments and holding onto winners for extended periods often leads to outperformance. The concept of letting winners ride is particularly relevant in investing, where a few investments generate disproportionate returns. The benefits of concentration can be realized when aligning incentives and having a structure that allows for long-term focus.
Successful companies often have founders who embody the organization's culture and values. The founder's personality and vision shape the organization, resulting in a strong alignment between the company and its founder. This direct influence from the founder creates a unique force within the organization, driving its success.
Today's teachers are Ben Gilbert and David Rosenthal, founders of Acquired, the podcasting sensation telling the stories and strategies of the world's great companies. In this episode, we turn the tables on Ben and David in order to discover their own stories and the fairy dust behind Acquired's success.
We'll cover the history of the formation of one of the most successful podcasts in the world, why having a co-founder & friend is vital to building an enduring company throughout the highs and lows, and their most valuable lessons learned from dissecting the greatest stories in business, investing, and entrepreneurship. Please enjoy our class with Ben Gilbert and David Rosenthal.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by Hunt Club. Hunt Club unlocks relationships and helps companies grow. Whether it's recruiting your next hire, landing your next big partner, or financing your business, a trusted introduction always works more effectively. Hunt Club’s tech-enabled search model leverages the largest community of its kind to refer amazing talent on your behalf. Additionally, its software program, Atlas, helps organize the entire network of a company or fund and assists in streamlining the right introductions. If you're looking for the ideal solution for all of your talent needs, visit HuntClub.com/AOI.
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Art of Investing is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Art of Investing, visit staygrovey.com.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @ArtofInvest | @Buhrman_Rick | @PaulBuser | @JoinColossus
Show Notes
(00:05:36) - (First question) - Acquired podcast's journey, founders' insights, and entrepreneurial lessons
(00:11:00) - David Rosenthal's journey from 80s Pennsylvania to entrepreneurship
(00:23:12)- How David's exposure to entrepreneurship shaped his beliefs and co-founder dynamics
(00:14:12) - How Ben and David forged a unique friendship through their shared passions
(00:30:54) - Exploring side hustles & transforming hobbies into career opportunities
(00:42:07) - Why building success requires nurturing intrinsic compounding factors
(00:52:15) - The roles of luck and persistence in achieving success
(00:56:35) - Prioritizing product over monetization for long-term success
(00:60:57) - The importance of staying authentic amidst success
(01:08:15) - Balancing success and well-being with Acquired's freedom-driven approach
(01:10:37) - Recognizing the value of ownership in the journey to success
(01:15:32) - The power of optimism in overcoming challenges and achieving success
(01:19:27) - The significance of authenticity in long-term success
(01:25:07)- Upholding integrity in interactions as an essential component of success
(01:35:04) - Why successful companies often mirror the founder's personality
(01:43:17) - Acquired's biggest strength and the potential risk on the horizon
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