Moneywise

Kory Mitchell, a blue-collar entrepreneur who scaled an asbestos abatement business to a $200M sale, shares his rollercoaster journey in business. He discusses the pitfalls of hiring a CEO who mismatched projects with company strengths, leading to steep losses. Kory also reflects on the true cost of company culture and communication during rapid growth. After burnout post-exit, he emphasizes the importance of mentorship and finding off-market deals, alongside valuable lessons on trust and the human element in M&A.

Mike and Kass Lazerow, successful entrepreneurs who co-founded Buddy Media and Golf.com, share their journey of building a $745M company while navigating family life. They dive into the chaos of selling their business, surviving a bankruptcy scare, and how Tiger Woods played a pivotal role. The couple discusses the importance of trust and communication in their partnership, revealing their approach to managing work disagreements and finances. They redefine what 'enough' money means, highlighting experiences over accumulation, and share candid lessons from their entrepreneurial journey.

Jacqueline Johnson, a founder and serial entrepreneur, discusses her $22M exit from Create & Cultivate and her journey back after buying the company back. She shares her experience with burnout and divorce, which led her to take a year off for self-discovery. Jacqueline reveals how she turned $10K into $1.2M through angel investing while enjoying a lavish lifestyle. She talks about the scrutiny female founders face, the difference between wealth and status, and how she finally felt successful. Her insights on building community and future-focused wealth strategies are particularly inspiring.

In this engaging discussion, Jordan Schlipf, a serial founder and CEO of a beauty business, shares his entrepreneurial journey and the lessons learned from choosing fun over profit. He reveals the allure that brought him back from investment banking to startups and the challenges of the Rainmaking model, which prioritizes passion but can lead to costly mistakes. Jordan reflects on his current role, the realities of life in London as a founder, and his evolving definition of wealth, emphasizing support and time over purely financial gains.

Donald Spann, a self-made entrepreneur who built a multi-million dollar call center from scratch, shares his journey from dropping out of college to achieving a remarkable $12M exit. He reveals how he launched a cleaning business inspired by a Reddit comment and gained 65,000 applications on a viral mom blog. Donald discusses the significance of never raising outside capital, living in Mexico on $10K a month, and the unique challenges he faced as a Black entrepreneur in affluent spaces. Now, he's focused on new ventures in cannabis and life sciences.

Rajiv Khaneja is a young entrepreneur and co-founder of Arvita Therapeutics, an innovative biotech company focused on mRNA cancer vaccines. He reflects on building AdButler into an 8-figure business while deliberately avoiding lifestyle inflation. Rajiv shares insights on his frugal choices, such as driving a Prius and living in the same city, showcasing a mindset rooted in his immigrant upbringing. He values attentional freedom over luxury, believes in community support for growth, and now channels his wealth into impactful ventures like cancer research.

Ali Abdaal, a successful YouTuber and entrepreneur, shares his unique journey from medicine to personal branding. He dives into how financial freedom has enhanced his happiness, rather than defined it. Ali recounts a scamming incident that sparked a lucrative business, his reflections on wealth versus well-being, and why a $2M profit goal feels more satisfying than chasing greater sums. He emphasizes the importance of creating personal luxuries and the freedom that comes from redefining success on his own terms.

Rob Townsend, a financial advisor who built an 8-figure firm, critiques traditional investing approaches. He discusses the misconceptions about financial advisors and sheds light on why $3M is his version of 'f*** you money.' Townsend emphasizes the mistakes people make with index funds and reveals how a toxic mindset affects the wealthy. He also shares how sabbaticals transformed his life and business, advocating for a view of money as a tool for happiness rather than a life dictator.

Carlos Cardenas, a Private Wealth Advisor at Austin Wealth Management with two decades of experience in alternative assets, dives deep into the fascinating world of high-end art investment. He discusses how a banana duct-taped to a wall can command millions, revealing the quirky nature of art's value. Listeners learn about potential returns of 8-12% in niche markets and why passion, status, and profit are essential for success. Cardenas also shares tips for novice investors on avoiding common pitfalls and navigating the complicated art market.

Alex Hormozi, founder of Acquisition.com and a business turnaround expert, dives into his incredible journey from $0 to a whopping $200M net worth. He shares the gritty details of his finances, including $95M in liquid assets and $100M in illiquid equity. Hormozi reflects on his rapid rise with Gym Launch, feeling poorer post-sale, and his transition into building a 'forever business'. He also discusses high-yield investment strategies and the emotional complexities of wealth, revealing that true satisfaction often lies beyond financial success.