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;
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
Paul Jarrett Co-Founded Bulu, Inc. also known by the subscription box name Bulu Box and Bulu Marketplace in 2012. Paul was running in a marathon with his wife and as the volunteers were handing out sample products for them to use along the run, they later realized that there was an opportunity and a market for sending out health products and vitamins to others in a more curated process and collect essential data along the way.Paul’s work experience spans the country. From NYC to San Francisco, he has launched million dollar brands such as Neebo and executed multi-facted campaigns for Lowe’s and Nike so he understood what it meant to take this subscription box idea to market and quickly began to see success. It also helped that he was Vice President and Board Member of Complete Nutrition which also provided a little insight into the space. He built the Marketing Department, trained dozens of franchises and positioned Complete Nutrition and its products for success in a saturated market.I enjoyed my conversation with Paul and I hope you do as well and helps you along your journey. In this episode we cover;
From going to school for journalism to becoming the CEO of an online business
How Bulu Box works
How businesses like his is changing the way we shop
How hard is it for a subscription box company to be backed by VCs (venture capitalist)
What have been great marketing and business strategies
Author of ‘Your One Word’ The Powerful Secret to Creating a Business and Life That MatterEvan Carmichael is an entrepreneur who started doing what he loves at the early age of 19. At 22, he was a VC helping companies to raise $500,000 to $15 million. He soon found that he had a true passion for helping others, and used that drive to help others. Evan has a website called evancarmichael.com where he works hand in hand with entrepreneurs to help them accomplish their hopes and dreams. He stated that is goal is to help 1 billion entrepreneurs in his life. The only thing stronger than his friendly personality is his drive to help others meet the success that he achieved.Evan and I discuss;
What it means to have “One Word”
Understanding his idea of hustle and passion
Almost quitting as an entrepreneur
How he works on modeling himself after entrepreneurs
Why A.P. Giannini , founder of Bank of America is the entrepreneur he appreciates most
and much more!!
The Marketplace by Priest Willis, Sr MM64: Mentally Breaking Down Hustle with Evan Carmichael
The Affiliate Mission team spent over a year in American Underground, a startup (co-working) hub in Raleigh-Durham and our experience was awesome and one I would recommend to any new business looking to connect and build with other entrepreneurs.American Underground is setting trends to become the most diverse startup hub around and that effort is led by Chief Strategist and all around good guy, Adam Klein. Companies like Google has seen something special in this hub and sponsored them in their efforts. CNBC even visited AU late last year to cover how it’s sparking a business revival in what once known as ‘Black Wall Street.Adam and I sat down and discussed;
Why co-working space is important for a startup business
What Silicon Valley is missing with diversity in the startup community
How to get involved with a local incubator
Business resurgence in NC
The Marketplace by Priest Willis, Sr MM62: Adam Klein on American Underground and Changing the Face of Startup Hubs (Replay)
What can the super wealthy teach us about having a secure financial future?The Thin Green Line: The Money Secrets of the Super Wealthy by Paul Sullivan. “Wealth Matters” columnist for The New York Times reveals the decisions, behaviors, and worldviews that lead to true wealth. For the better part of the past decade, Paul has written about and lived among some of the wealthiest people in America. He has learned how they save, spend, and invest their money; how they work and rest; how they use their wealth to give their children educational advantages, but not strip them of motivation. He has also seen how they make horrendous mistakes.Firsthand, Paul knows why some people, even “rich” people, never find true wealth, and why other people, even those who have far less, are far better off financially. His book shows how others can make better financial decisions—and come to terms with what money means to them. It lays out how to avoid the pitfalls around saving, spending, and giving money away and think differently about wealth to lead a more secure and less stressful life. An essential complement to all of the financial advice available, this “timely…smart” (Publishers Weekly) guide is a welcome antidote to the idea that wealth is a number on a bank statement.Paul and I discuss;
The thin green and the distinction between being rich and wealthy
Why it was important for readers to understand the difference?
The meeting he talks about in the beginning of his book with Tiger 21 members.
How the wealthy use debt strategically
The misconception on how the wealthy view taxes
The wealthy’s spending philosophy
How the wealthy teach financial literacy to their kids
and much more!
The Marketplace by Priest Willis, Sr MM61: The Thin Green Line Between Being Rich and Wealthy with Paul Sullivan