Smart Friends
#050 Growing Podcasts, Bookkeeping Biz, and Creator-Led Companies with David Senra and Mitchell Baldridge
Episode guests
Podcast summary created with Snipd AI
Quick takeaways
- The importance of leverage and focus in building a successful business, with a singular focus leading to better results.
- The value of networking and building connections through offline conversations and discussions about business.
- The power of learning from history's great entrepreneurs and founders through studying biographies and books.
- The impact of content creation and leveraging online platforms for growth, attracting an audience and building connections.
- The benefits of leveraging unique information and creating valuable bite-sized content for social media to attract and engage target audiences.
- The significance of crafting a high-quality book and building a network of trusted individuals for a successful book launch.
Deep dives
The Power of Leverage and the Importance of Focus
In this podcast episode, the speaker discusses the importance of leverage and focus in building a successful business. They emphasize that having a singular focus, such as targeting a specific market or using one distribution strategy, can lead to better results. They give examples of successful entrepreneurs who have applied this principle and achieved great success. The speaker also highlights the value of learning from the experiences and insights of others, whether through reading biographies or listening to podcasts like the Founders podcast. Overall, the episode highlights the power of leverage and the benefits of having a clear focus in business.
The Value of Networking and Building Connections
This podcast episode focuses on the value of networking and building connections. The speaker shares their personal experiences of forming connections and having conversations with other business professionals. They highlight the benefits of engaging in offline conversations and discussions about business, investing, and ideas. The episode showcases how these conversations can lead to valuable insights, connections, and even sponsorship opportunities. The speaker also emphasizes the importance of reciprocating value and supporting others in their endeavors. Overall, the episode highlights the power of networking and the opportunities that can arise from meaningful conversations.
The Importance of Learning from History's Greats
In this podcast episode, the speaker emphasizes the value of learning from history's great entrepreneurs and founders. They discuss the benefits of studying biographies and books that provide insights into the lives and journeys of successful individuals. The episode highlights how studying the achievements and strategies of past entrepreneurs can serve as a valuable source of inspiration and knowledge. By distilling the wisdom and patterns from these stories, listeners can gain insights and apply them to their own entrepreneurial journeys. The speaker encourages listeners to view history as a form of leverage for personal growth and business success.
The Power of Content Creation and Leveraging Online Platforms
This podcast episode explores the power of content creation and leveraging online platforms for growth. The speaker shares their experiences with creating valuable content, such as Twitter threads and podcasts. They discuss the impact that thoughtful and well-researched content can have in attracting an audience and building connections. The episode showcases how content creation can lead to opportunities for partnership, sponsorship, and business growth. The speaker also highlights the importance of finding the right platform and utilizing its algorithms to maximize reach and engagement. Overall, the episode underscores the power of content creation and its role in building a successful online presence.
Leveraging Unique Information for Moat Building
One way to build a moat in the digital space is by leveraging unique information. For example, David has over 20,000 indexed and searchable highlights from books, which he can repurpose into small educational content pieces. This allows him to create valuable bite-sized content that can be shared on social media and reach potential customers. Similarly, Eric has valuable research and insights that can be repurposed to provide educational content and build his audience. By tapping into their unique information, they can create content that attracts and engages their target audience.
The Power of Distribution and Unpredictable Results
When it comes to launching a book, the power of distribution and the unpredictable nature of results should not be underestimated. While there are strategies such as leveraging podcasts and newsletters, and reaching out to influential individuals, the true impact of a book launch often comes from factors that are difficult to predict or control. It's important to focus on crafting a high-quality book and building a network of trusted individuals who can help promote it. Ultimately, the success of a book launch is driven by the quality of the content and the word-of-mouth recommendations from readers.
Utilizing Unique Business Data for Marketing
Mitchell's Better Bookkeeping business is collecting unique financial information from businesses. This data can be repurposed to create valuable insights and educational content that attracts potential customers. By sharing case studies, highlighting tax savings, and showcasing the benefits of automated bookkeeping, Mitchell can target specific customer segments, such as high-growth or high-profit businesses, and position Better Bookkeeping as a valuable solution. Building a moat by utilizing collected business data can create a competitive advantage in the bookkeeping industry.
Creating Bite-Sized Educational Content for Marketing
David and Eric have found success in creating bite-sized educational content from their unique areas of expertise. David repurposes valuable information from podcasts into Twitter threads and short-form videos, effectively attracting and engaging his audience. Similarly, Eric's research and insights can be distilled into micro lessons shared on social media, providing valuable content that benefits his target audience. By consistently delivering educational content, both David and Eric build trust and position themselves as go-to sources for their respective industries.
Building Leverage and Expanding Content
The podcast episode discusses the concept of building leverage and expanding content. The hosts talk about the value of having a large pool of ideas and content that can be repurposed for various platforms. They emphasize the importance of creating evergreen content that can continue to generate value over time. They also discuss the idea of compounding and how continuously creating and distributing content can lead to long-term success. The hosts share personal experiences and examples to illustrate these concepts.
The Power of Marketing in Business
The podcast explores the importance of marketing in business. The hosts discuss how marketing efforts can impact the success of a business, particularly in terms of book sales and attracting subscribers. They emphasize the value of sharing high-quality ideas and content with others. The hosts encourage listeners to embrace marketing as a way to promote their products or services and make a positive impact on people's lives. They also discuss the significance of leveraging social media platforms like TikTok and Twitter to reach a wider audience.
The Long-Term Impact of Content Creation
The episode highlights the long-term impact of consistent content creation. The hosts share examples of individuals who have built successful businesses and careers by creating and sharing valuable content. They discuss the idea of compounding, where the benefits of content creation accumulate over time. They emphasize the importance of putting in the work and dedicating time to content creation, even when the immediate impact may not be evident. The hosts also discuss the power of storytelling and effective communication in content creation.
Leveraging Networks and Opportunities
The hosts delve into the significance of leveraging networks and opportunities. They discuss the value of building relationships and connecting with influential individuals. They highlight the potential for collaborations and partnerships to amplify one's reach and impact. The hosts emphasize the benefits of focusing on personal growth and learning from others who have achieved success in various fields. They encourage listeners to seize opportunities, take risks, and constantly seek ways to improve and adapt in an ever-changing landscape.
Topics:
(4:12) - David on how to grow a podcast & Mitchell as a connector
(13:32) - David on changing the structure of his podcast
(15:58) - Creator-Led Business, Kobe Bryant, Arnold Schwarzenegger & Balaji
(36:49) - The genius of Berkshire Hathaway & The power of Twitter
(51:24) - Creator Economics & Story time with David Senra
(1:06:38) - Eric’s impact on David
(1:09:48) - Mitchell’s career model & Building a bookkeeping business
(1:28:11) - Focusing career growth
(2:04:32) - Thoughts on TikTok
(2:16:43)- How the guys spend their time (Finding operational leverage)
(2:21:29) - Trying to convince Mitchell to start a podcast
(2:24:34) - David’s thoughts on his new business model
(2:33:38) - Wrap Up
Links:
- The Founder’s Podcast w/ David Senra
- Connect with Mitchell Baldridge
- Mitchell Baldridge on Twitter
- David’s appearance on Jorgenson’s Soundbox
- Mitchell’s appearance on Jorgenson’s Soundbox
- WorkWeek
- Ed Thorpe on The Tim Ferriss Show
- Business Breakdowns - Berkshire Hathaway
To support the costs of producing this podcast:
>> Buy a copy of the Navalmanak: www.navalmanack.com/
>> Sign up for my online course and community about building your Personal Leverage: https://www.ejorgenson.com/leverage
>> Invest in early-stage companies alongside Eric and his partners at Rolling Fun: https://angel.co/v/back/rolling-fun
>> Join the free weekly email list at ejorgenson.com/newsletter
>> Text the podcast to a friend
>> Give the podcast a positive review to help us reach new listeners
>> Name-your-price subscription monthly, annual, or one-time: https://app.omella.com/o/9Bufa
>> Follow me on Twitter: @ericjorgenson
>> Get in touch about sponsoring this podcast by replying to an email or DMing me on Twitter.
Remember Everything You Learn from Podcasts
