Patrick J. McGinnis is a venture capitalist and private equity investor who founded Dirigo Advisors, after a decade on Wall Street, to provide strategic advice to investors, entrepreneurs, and fast growing businesses. In this capacity, he has worked in a range of settings, from building startups from the ground up in Silicon Valley to acting as an expert consultant to the World Bank in Latin America, Africa, and the Middle East.
In Patrick’s latest book The 10% Entrepreneur, he shows you how, by investing just 10% of your time and resources, you can become an entrepreneur without losing a steady paycheck.
As a 10% Entrepreneur himself, he has built a diverse portfolio of investments outside of his day job. This portfolio encompasses fast growing new ventures in the United States, Latin America, Europe, and Asia, including ipsy, the world’s largest online beauty community; Bluesmart, the inventor of the world’s first smart, connected carry-on suitcase; and Afiniti, a big data company that is reinventing the call center industry. He has also been a partner in several real estate investments.
What does it mean to be a 10% entrepreneur?
How do you begin the transition towards becoming a 10% entrepreneur?
How not to let the complacency trap get you?
Why failure sucks and what you can do about it?
The criteria for evaluating investment opportunities?
Is entrepreneurship over-hyped?
The Marketplace by Priest Willis, Sr MM75: Going Beyond Your Day Job with Patrick McGinnis
A highly successful entrepreneur, Matt DeCoursey launched his first company in a spare bedroom of his Indianapolis home in 2009. Using nothing but an AmEx card with an $8000 limit, he built companies that generated millions of dollars in revenue.Matt is also the founder and CEO of GigaBook, a cloud based appointment-booking platform, which has the ability to provide utility to millions of small and medium sized businesses. He now lives in Kansas City with his wife and two children.In this discussion, Matt and I cover:
What were the steps that led Matt to be an entrepreneur
Awarded as an iTunes Best of 2014 podcast, The $100 MBA Show is a new kind of business podcast where you simply get better at business with our daily 10 minute business lessons for the real world. These no fluff, 10-minute episodes are packed with only the pure business building training you want.Omar Zenhom, co-founder of Webinar Ninja. Omar and his partner and wife Nicole used their years of education experience to develop software and training resources for webinars. Omar also hosts the $100 MBA show, a top-ranked podcast with over 50,000 downloads per day.In this episode, Omar and I discuss;
His start in teaching High School in Dubai
Webinar Ninja and it’s benefits
How to create a buzz for your podcast
Ignoring the competition
Thoughts on having a college degree
Thoughts on “internet stardom”
and much more
The Marketplace by Priest Willis, Sr MM73: Creating a Successful Webinar Business and Award Winning Podcast with Omar Zenhom (Replay)
Ian Balina is a cryptocurrency investor, serial entrepreneur, author, and film maker. He was a full-time employee at IBM until the day of our interview to focus on Amazon FBA and his cryptocurrency investments.Ian authored The Complete Freelancer Guide, a book that encourages others how to start a freelancing business. He founded Fusion Video Producers, a video production company that’s worked with Nancy Pelosi and NFL star Pierre Garcon. He is known for his ability to “hack the system” and create multiple streams of income through investing in cryptocurrencies, turning hobbies into freelance businesses, short-term real estate rentals and creating private label brands that sell items on Amazon.He is the founder of Peer Hustle, a mobile on-demand freelance jobs marketplace, as well as a tech evangelist for IBM’s North American Open Source and Hybrid Cloud business. Ian holds a Masters in Computer Engineering from The George Washington University and spoke alongside Michelle Obama during his graduation.*I apologize for the sound going faint for a few minutes. I’ve been working with Zencaster and slowly trying to move from SuperTinTin
The Marketplace by Priest Willis, Sr MM72: Bitcoin Investing 101, Freelancing and Quitting His Full-Time Job with Ian Balina
Miko Branch, co-founder and CEO of Miss Jessie’s, started the company in the early 2000’s alongside her late sister, Titi Branch.Miko and Titi Branch didn’t have to go far to get their business chops. Their father and Miss Jessie, their paternal grandmother who the business was named after, gave them the push they needed to forge the road ahead. Miko, a 70’s, hip-hop baby like myself and the environment that holds in NYC, help to visualize, shape and launch their entrepreneurial spirit in addition to their family.At one point, Miko says she wanted to go into fashion, but decided to go another route. On the day that she graduated from the Fashion Institute of Technology in New York City, she enrolled in beauty school. This is where we pick up her story.Miko and I discuss;
Nick is an entrepreneur, author with several books on Amazon and lead Hustler at SideHustleNation.com, a growing community and resource for aspiring and part-time entrepreneurs.Nick worked full-time for a giant corporation, but spent his nights and weekends working on a comparison shopping website which eventually led him to stitching together other side projects ultimately launching out on his own and finding success.Nick starting getting more questions on how he created his side businesses and that’s where Side Hustle Nation was born. Side Hustle Nation is a growing community of aspiring and part-time entrepreneurs, where he also hosts the top-rated Side Hustle Show podcastNick and I discuss;
Why it was important to start his own business
How he made the transition from his side hustle to doing it full-time
What are some top niches others could look at starting now
Sites and apps to use to help you be a more effective side hustler
And much more!…
The Marketplace by Priest Willis, Sr MM70: Building Beyond Your 9-5 with Side Hustler Nick Loper (Replay)
Tyler Merrick, founder and CEO of Project 7 started 10yrs ago after learning about social entrepreneurship through a friend. He soon discovered, however, that social entrepreneurship works only when people want to buy the product you’re selling. After restart of the brand and reformulated products, Project 7’s sales now exceed $10 million, and its gums and gummy bears are distributed at Target, Meijer, SuperValu, Starbucks and elsewhere. The company donates a minimum of 10% of its profits to seven areas of focus, including tree-planting, clean water and anti-bullying program.
Merrick talks about his pet care venture he worked in over 10yrs
Being a For Profit supporting non-profits
Why having good product should be the focus vs. the social mission
The seven areas of need across the globe that Project 7 helps fund
How he penetrated the gum and candy business
Failing in business
How others can create sustainable goods and create a business/products that they can have an impact on social good?
and much more!
The Marketplace by Priest Willis, Sr MM69: Tyler Merrick on Making Sweet Deals, Building a Unique Snack Business and More!
Luisa Zhou is a serial entrepreneur and online educator who teaches people how to leave their day job and start their own six-figure plus business working for themselves. She’s helped hundreds of students, including health and business coaches, designers, copywriters, and consultants, and shown them how to launch businesses that generate anywhere from 10K to 100K in a matter of months. She has appeared in numerous online and print publications including Forbes, Inc, Entrepreneur, Success magazine, and more.In this episode , Luisa tells us how (and why) she generated $106k in sales in four months in business — while maintaining a full-time job that was 50+ hours a week. We also learn about Luisa; How she launched her coaching program? Does the fact that coaching is so huge (billion dollar industry) but unregulated cause concern and her approach and much more!
The Marketplace by Priest Willis, Sr MM68: Employee to Entrepreneur with Luisa Zhou
Paul Downs started making custom furniture in 1986, shortly after graduating from the University of Pennsylvania with a degree in engineering. Downs has only one line on his résumé but has a wide variety of skills gained in thirty years of running his business. His clients range from individuals and small businesses to Fortune 500 companies, all branches of the military, and foreign governments. Downs lives with his wife and three sons outside of Philadelphia.In addition to running the business, Paul is a prolific writer. If you felt like your business was about to shut down, could you imagine reaching out to the New York Times with an offer to share the experience with thousands of people? Paul Downs thought it would make for a good story and he wrote for the NYTimes.com for 4-years before writing a “year in the life of my business” book: Boss Life.You’ve never read a business book like Boss Life. The book quickly joined our list of “must reads” for all current and potential business owners. The work is the most honest and transparent business book that we have ever read and we encourage all of you to read it. If you felt like your business was about to shut down, could you imagine reaching out to the New York Times with an offer to share the experience with thousands of people? Paul Downs thought it would make for a good story and he wrote for the NYTimes.com for 4-years before writing a “year in the life of my business” book: Boss Life.
The Marketplace by Priest Willis, Sr MM67: Boss Life: Surviving a Small Business with Paul Downs
Sponsor/Partnership:TubeBuddy’s channel management browser plugin helps content creators, brands, and networks save time and grow their brands directly from within YouTube.Extra Links:Paul Downs Forbes articles
As a longtime film and TV producer, Cheryl Miller Houser has become used to the fact that each production becomes its own business enterprise and creating her own company Creative Breed made it a natural investment to follow 6 (8 total including partners) young entrepreneurs in Detroit trying to find their footing in the documentary that I found on Netflix called ‘Generation StartUp‘.Generation Startup takes us to the front lines of entrepreneurship in America, capturing these entreprenuer’s stories. This film that Cheryl and Co-Directed with Academy Award winner Cynthia Wade celebrates risk-taking, urban revitalization, and diversity while delivering a vital call-to-action—with entrepreneurship at a record low, the country’s economic future is at stake. Cheryl also tells her story of stepping out and creating her own company which was designed to create emotionally engaging content that inspires people to think, feel and take action like this. The goal is to share masterful story-telling across all media/multi-platforms.
The Marketplace by Priest Willis, Sr MM66: Entrepreneurship, Detroit and Generation StartUp with Cheryl Miller Houser