Live Q&A With My First Million + Andrew Wilkinson (Austin Live Event) (Part 2)

yeah i feel like i could rule world i know i could be what i want to from at all in it like a day's on on go this traveling this point nick gray yes we're ready for questions alright so what we're gonna do is we're gonna do a little q and a and we'll refund some of that stuff fantastic let's see please can have house lights and i would like to see hands up for questions for the panel i see one here in the center i see one over here thank you guys i'm gonna ask you to raise your hands again and we're gonna try to go through these fast please say who your questions for my question's for sam where do you think podcasting will be in ten years positive or negative questions stress you out what man's were all on the universe i don't know like you wanna have them light discussion where will podcasting be so when shay was sean's idea of start our podcast he came to me and he's like i've got this finished episode will the hustle publish it be our publisher and the original version of m m was not what it is now it was him interviewing people and it was still good and then one day someone didn't show up to studio time that we had already paid for he's like just come in and do the thing that we do and and that's kinda how it came to be and by the you know that story is not true right no that's not actually i came about i did not know that because i've heard you tell this i'm like is he you tell us because fix you not a guest bailed no i told you that what happened was it's a good time to come clean right in front of us in our five hundred closest friends what happened was the hustle wasn't promoting the podcast enough and i was like how do i get them to promote it maybe i could tell them what's it for them maybe i could bake better content or maybe i just invite sam on the podcast and you will for sure make them promote it and so you guys are launching trends and i was like hey come on and let's just bullshit about upcoming trends startups i was like they have to promote that episode because it's like that's their thing nice like let me do that every friday and that became the pod they call this the prestige yeah yeah you honey pot me at work my point being when we got into this i've thought it was a i thought podcast podcasts were stupid i was like oh it's played out there's too much and what i've learned i'm not gonna entirely answer your question because the answer is i don't know but i'm gonna try and get around to it what i've learned as i think it's the most powerful medium that we've ever come across so like because when you're in this is it sounds weird but when you're in someone's ear is like literally the headphones matter when you're in someone's ear for like forty or fifty minutes per session like three times a week it's insane how what people learn about you it's way better than like an eight minute youtube video so where do i think you i don't know andrew where do you think it's gonna go so i get your owns a a podcast podcasting company yeah i own a company called super cast we help like hub and other people monetize their podcast was talking to the guy who runs it actually yesterday weirdly and he said that podcasting there's sixty two percent penetration in the united states so like sixty two percent of people are aware but there's only two billion dollars in the market so on the advertise podcasting advertising dollars and stuff and you think about like fm radio and how big that market is i would just look at fm radio and be like okay how big is that and if every podcast was monetized like fm radio it's probably that big so it can probably like twenty x fifty x hundred x i don't know would you agree that podcasting is the hardest medium to grow yeah for sure i think that it has the benefit of what you said that people become really loyal very quickly but it's the hardest to grow so you can go on tiktok and you'll get a bunch of followers but if you said hey we're doing a live show in austin you're not gonna get anybody to show up in fact there's funny tiktok of these tiktok are doing meet and greet that no one shows up too because they thought if i have a hundred thousand followers for sure people are gonna show up and so you know the the trust is what matters not how many fans well also i'd say it's i'd argue the best medium t subscribers on because someone will see it in their app and there's no algorithm that's gonna get in away whereas on youtube or something yeah you've got the same monetization opportunities of doing events and you know promotions and ads and all the other stuff but it's so easy for the el just to go away from you and you forget about the person the problem with it is unlike blog articles and things like that you can't fake it i can fake a blog article and get you to click on it it's podcasting very hard for that reason and i always like joke but i'm like the best way to circumvent someone's bullshit detectors is to not bullshit and it's like the best way to like get successful in podcasting is to be talented or like be really good and that's super hard because you don't actually have to be good at a bunch of like blogging and even newsletter writing you should have to be pretty good but you can kinda be pretty bad and still succeed podcasting it's a lot more challenging else hey this question is for sean and sam i'm building website called ask the pod dot com it's meant to be a companion for podcasts so you can listen to the episode or and go back ask questions what are the books mentioned what are the links mentioned so is it okay to add my first million on pictures are losers your moment yes next question who's gonna a question i wanna see one from over here hand up pat them like down please hey guys thanks so much love the podcast my questions for sam i'm i'm a copywriter writer and i'm just wondering what your number one tip is for getting better at writing persuasive and specifically coffee these are some boring questions guys so copying word for word other people's work so what i like to do is i print out like whether it's a movie script or a great like blog article or a really good piece of copy that i like and i copy it word for word and it's almost like learning music you like play other people's music and you like see the texture of what makes greatness and then you like steal from a bunch of different places and make your own and that's what i like to do spend six months doing that one hour every day you'll get pretty good awesome thanks should we get people to lineup up maybe just so that there's no delay sure yep i'm open to that if you have a question which we would love to hear questions come and meet me on this side of the stage guy here i can tell this guy got a good question where have you been on my life man maryland calm you're one joke away from getting this next seat on the on the stage here so i mean i'll he said i love the podcast guys i hate the podcast my fault but you hate podcasts you hate the podcast no sarcasm oh i'm staying can we fuck hey excellent question come on up next one is austin alright the this question's is for andrew what have you learned the commonalities of the bottom twenty percent of investments that you've had and versus the top twenty percent what differentiates the bottom twenty percent top twenty percent the that i do the big the biggest mistake i would say over and over and over again is when i bet on the business not the jo right so i get really excited about the business in the business model and i go oh my god this a great idea if i ran this or someone like me ran this this would be amazing even if i don't believe in the entrepreneur and i've realized that betting on the entrepreneur is a hundred percent of the game right because they'll figure it out but don't you wanna have a business that any idiot can run oh yeah and for sure but i'm saying like the ones where i've lost i actually haven't lost that much money in businesses where i'm buying the whole thing almost all of those work it's the ones where i'm doing venture or i'm betting on something or i'm trying to start a business that's why i lose all my money excellent next question hi massey so i wanted to ask do you feel about community building obviously it's become really big for creators how do you see it in the podcast honor or sort of that async communication with your fandom and and building those super fans yeah i think for a podcast you don't really wanna build a community as such you wanna build a cult so so basically you're like what is it that we believe that not everybody believes and let's put that on blast and then a bunch of other people who believe that too are going gonna be like finally someone said it or like finally they they do things the way i do things like for most of you here i i would bet like hands up if you consider yourself like i'm a real fan like i truly love the pod i feel like when you guys are doing the pod i could be sitting there right with you guys kind of bullshit i bet like leave a hands up for a second put your leave your hand up if the following statement is true it's not that you learned that much from us but it's kind of like you feel like you're hanging out with us that we are like you and that if we just happen to have met we would have been friends so like most people leave their hand up right i kinda confuse them but it's that's kind of what you go for i think most people when they do content they're trying to be in info heavily informational and they think they're talking down to people they're think you're they're educating them and whatnot what we do is we just talk about stuff we're interested in that we think and then it just happens to attract a bunch of other people who think the way we do and that's kinda like more like a cult than it is a community people where we all gather around and serve each other human is a great example of that where like we're just talking about this backstage actually he does these two hour crazy podcasts on like weird nerdy science stuff but he makes these subtle little comments about his dog and he seems like a real sweetie and all these things and people connect with them him and he's handsome what does he look like shirtless ridiculous ridiculous okay so mike me hub invited me over to his house and he goes let's do us on it and a cold punch i've never met him before and i was traveling with my girlfriend and i was like oh like zoey do you wanna come with me and we'll go to humans she didn't know who he is and she's like no i'm good and we get there he takes a shirt off and he's just shredded like you could like shred cheese on his chest eight pack bulging arms tattoos and i'm there and i'm just like folding myself into a little ball and i was like think god i didn't bring her we'll do two or three more alright next question hey guys my question is what can partners of founders do to port them on their journey i see that some of your wives are here just wondering yeah let's hand the mic to that and let's see what they have to say we don't do it everyone we've gotten the request to where people over like bring your wives on and we're like no we're not doing that this is the one thing i have don't give a guitar my i i've done a good job of partnering in business and in relationships with people who are very emotionally stable because i am not and that and that has been awesome and so basically like there's been many many many times where i'm laying on the floor and i say fuck this i'm out the sucks i'm bailing i'm gonna quit and she'll just like sit there and be like okay okay and then just like not really reply other than like alright you done now and then and and that has been like pretty wonderful to have someone who's like emotionally stable to balance out someone who's pretty neuro for me i remember when we were gonna like i always say oh we sold be as if it was like this easy thing that was for sure gonna happen what actually happened was the business wasn't really going the way i wanted and i was like i gotta just do something else so i said i'm gonna try my best to sell this business but if it doesn't sell she's gonna shut it down and i i i don't know what i'm gonna do next we're gonna just i'll figure something else was i just gotta change it up and i went to my wife sonya right here and i i said i'm thinking about doing this we're pregnant pregnant with our first and it's like hey how do you feel about me either selling this or more likely it's just not gonna work out and we get zero we have no job no health insurance and like i don't know what i'm gonna do next but i just kinda failed for five years straight so that's the track record and i got going here and she was like let's go for it like no hesitation was just like i believe in you let's do this like no kinda like go the go for it go for the upside and not worrying about what happens to things goes wrong that really helped me because i was like oh cool like even if we strike out i don't have to i already beat myself up i'm not gonna get beat up more if things don't go well i don't have to keep hedging it's like i physically we're now mu like broke ass my fuck see so i would say i would say there's three things so number one empathy but empathy without understanding is useless so like in previous relationships it would be like oh my god you know this person at work has given me so much trouble and the reason is that they want stock options and that means this so whatever in the previous partners would glaze over and they go oh babe that's so hard but it was like hollow right there's no understanding and so what i found really works is actually not like going into business and like ob over it but just making a bit of an effort understand the actual problem and like you know for example like my girlfriend will listen to my first million or my girlfriend will read i mean our girlfriend our girl now they're girlfriend exactly or so she'll make a bit of effort and then what was my third thing shit brain for it i'll remember it later i'll take later great so for those that are in the line i'm gonna walk down you're very quickly going to say your question i'll try to do five or ten real quick they will not be answering them but they may give an answer later first up what was the reasoning behind going public taking tiny public and what was the biggest lesson learned excellent next question question for andrew i was curious about your follow up to your kind of personal episodes about your dip emotionally and what that's been in the last like twelve months for instance awesome few more andrew how do you start and grow your agency business excellent next yeah for the panel built a few businesses that did millions now if i'm myself complacent lacking purpose like yeah i just like to know your answer to that okay alright next one without turning it into billy of the week andrew's impressions on meeting my boss's boss's boss's boss michael dell this week the stuff that you didn't put on twitter already let's yeah do we your remind this yep we're gonna pause for those of you that are standing waiting for questions take a seat and we'll do another round of q and i think i think the first one was going public and why and i would say that going public is if you're an investor it represents the greatest opportunity right you can raise capital at a great valuation you can buy it back when it's cheap you can use your equity to buy businesses those are just kind boring business reasons to be honest the reason kinda relates to my dip so over the last like two or three years i went through a bit of a fun and it came from this feeling of like i don't know why i'm making more money i don't have a thing right so when i started it was because i was like okay i wanna wake up whenever i want and i don't wanna have a job and then it was like okay i wanna have a house in a car and then it was like okay i got a house in a car now i wanna pay off my parents mortgage and then after that and then i was like okay i want enough money that i can be fine and stop working but after that point which i reached seven or eight years ago i just didn't know what to do with it and i tried all these different things you know i would go in like you know buy wine and fancy cars and gone fancy vacations and all these things and nothing really made me happy and so over the last couple years i've been trying to figure that out and i tweeted about this earlier and i i mentioned this but i've been really admired people that do two things one is they use money to live life in a very interesting and creative way so nick is a great example of that nick's a multi millionaire he exited his business he's done very very well and he just has an investment portfolio on autopilot invest in tesla really early on and now he just focuses on meeting interesting people so that's one piece and i've done a lot of that just meeting and interesting people and then two is figuring out how to give it away and actually impact my community so like i did that local journalism i think you guys know about in going public in canada it allows me to actually give my shares to my foundation so i can actually do that so it enables that andrew did the biggest flex on us when we saw him them for dinner the other night we're like oh have been doing and he goes phil they were like oh okay okay big guy and and eddie he didn't pay for dinner didn't dedicate donate to the savage sean foundation yeah the five hundred dollar dinner and the other question was about michael dell you met michael dell this weekend yeah michael dell he was so okay so like michael dell is like what you hope capitalism is right like i met him and he was the nicest most down to earth engaged pleasant guy and i've spent a lot of rich people i've met billionaires multi billionaires he's worth fifty so he's worth like ten x any of the other people and he was just really genuine and nice and i asked him like okay what are your vice like how are you not like you you have like a super pac like some weird libertarian island where you like hunt and kill people are you building like penis rockets to mars like what are you doing i use goes no i got a couple nice houses i've got a jet i just like to work and build my business and i give it all the way to my foundation and i was like okay that's pretty cool it's like the human version of a dell computer yeah it's like a the basic computer totally but it like a nice a nice computer that works well for you i feel like i could rule word i know i could be what i want to put my all in it like a days off on a travel never looking back