The Lazy Millionaire: I Own 40 Companies, But Don't Run Any Of Them

Рет қаралды 44,832

Күн бұрын

Steal our writing frameworks that have made us millions 👉 clickhubspot.com/cpy
Episode 587: Andrew Wilkinson ( / awilkinson ) teaches the exact step-by-step process he uses to find, diligence, hire, and transition a great CEO.
Get Andrew’s CEO Hiring Guide and Checklist - tinyurl.com/ms8938kn
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Show Notes:
(0:00) Intro
(1:46) Why you need a CEO
(4:47) The third door: leave the business, keep the cash flow
(9:35) Get back to your flow state
(11:35) Step 1: Are you ready to hire a CEO?
(16:05) Is this going to hurt my business?
(17:37) Step 2: Find the RIGHT CEO
(19:07) Hiring a recruiter
(22:30) Look for a #2 with the right hammer
(24:23) Be a collector of people
(25:21) Step 3: Diligencing the candidate
(28:16) Green flags, yellow flags, and red flags
(33:33) 2x not 20x
(35:55) Step 4: First 100 days
(37:51) Don't poison the water
(39:29) Flesh wounds not mortal wounds
(41:22) Meet them in person
(41:48) More on diligencing: Trust but verify
(44:06) The DIY path
(46:20) Step 5: Negotiating and structuring compensation
(48:08) Uncapped bonuses vs equity
(51:34) Myth: Is a founder-led business always better?
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Links:
• Never Enough - neverenough.com/
• Srch - www.srchpartners.com/
• Business Intelligence Advisors - www.biadvisors.com/
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Check Out Shaan's Stuff:
Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): bit.ly/SupportShepherd
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Check Out Sam's Stuff:
• Hampton - www.joinhampton.com/
• Ideation Bootcamp - www.ideationbootcamp.co/
• Copy That - copythat.com
• Hampton Wealth Survey - joinhampton.com/wealth
• 💰 Pitch your startup for a shot at a $1M investment with Sam Parr as the MC clickhubspot.com/pitch
My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

Пікірлер: 87

@MTulak 2 ай бұрын

There was a small comment war of people complaining about the Hubspot ad being annoying, repetitive, etc, and others defending that it's free content. How did MFM respond? With multiple ads that bring a ton of value to the viewer and don't feel like ads. Big boy move

@bstancel12 2 ай бұрын

This is awesome. Thank you for this content - it is timely for some us. When you've been doing it for 7+ years and you don't want to sell, but need a change. Spot on.

@williemckenzie 2 ай бұрын

This resonates with me so hard. I’ve been fantasizing about handing over the keys for almost 2 years.

@DidierPeroni 2 ай бұрын

This podcast is the best money I never spent. What an insightful pod. Thank you Andrew and MFM

@ambana86 2 ай бұрын

Where did you spend the money when it's free content on KZfaq?

@ingvildrosa4892 2 ай бұрын

@@ambana86 DidierPeroni wrote: "Best money I NEVER spent". so he hasn't spent any money.

@ambana86 2 ай бұрын

@@ingvildrosa4892 ok 👍 understood

@janedeuber1596 2 ай бұрын

You guys always give the best info at just the right time. I am looking for a CEO for my SaaS. So helpful!😮

@enfiestado 2 ай бұрын

Great episode!!! I was wondering many of these things from other pods Wilkinson has done w u guys

@matthollingsworth3598 2 ай бұрын

Appreciate the shoutout of Align, Andrew!

@easypeasyrun 2 ай бұрын

Another awesome episode!! Great point about referral checks, which I think will always work :)

@ErickaWilliamsCC 2 ай бұрын

This is perfect content for me today. Great stuff you guys

@ronfortin3796 2 ай бұрын

Super relevant to where I’m at in my stage of business. Thanks for this valuable video!

@480brad 2 ай бұрын

Such a great episode! I love the door three option!

@idabrinck-lund9744 2 ай бұрын

GOOD subject - I sometimes I choose not to build a certain company due to the CEO role. I love how Andrew always changes the rules and we are moving past that exit is always the goal but instead - where is the flowstate I want to be in

@foundation33 2 ай бұрын

I like this podcast episode a lot. It is so much value and also i found it entertaining. Even though Im not in a position to hire a CEO rn I might find this info useful in the future and it increases my overall business knowledge

@zacksmith6826 2 ай бұрын

I like how proud Sam was when he said "A Relay Race!" 😂

@Rickyyis 2 ай бұрын

You guys made me start listening podcast. And still is the only podcast a I listen religiously. Thank you for this very insightful podcast.

@chasehassen5650 2 ай бұрын

This is gold!!!!!

@amonifinau4048 2 ай бұрын

Thank you!

@muellerjohann 2 ай бұрын

Thank you very much for this info, it's invaluable!

@tigheburke4683 2 ай бұрын

Love this guys! Thanks for the shoutouts. I'd also add that you can fairly quickly ID if your CEO candidate is serious by having the compensation conversation earlier than later. If they insist they'd need a higher base salary or guaranteed cash, what does that say about their confidence to grow the business? If on the other hand, once they've learned a bit about the opportunity and are willing to have a bigger % of their comp tied to company performance, you know you've got a warrior on your hands who wants the hammer, wants to be hands on. And that confidence is so attractive too.

@ST5S5 2 ай бұрын

Great perspective

@RhedgeBallesteros 2 ай бұрын

Been waiting for that swipe file for writing 👀👀👀

@nyustdent 2 ай бұрын

Great episode. Interesting stuff

@barumbaplay 2 ай бұрын

This was a great epsiode

@midnightsxtc 2 ай бұрын

This was really great

@InventaChris 2 ай бұрын

So many gems!!💎💎

@thehugofernandez 2 ай бұрын

Love this

@cnaccio 2 ай бұрын

This content is so 🔥

@Stierenkloot 3 күн бұрын

Reading his book now. I think I found my new role model

@oscarramirez79936 2 ай бұрын

amazing honestly so much free game boy !!!

@leadgenjay 2 ай бұрын

important video

@RyanKonicek 2 ай бұрын

The key question that I have is for the bonus or comp plan on down EBITDA years. For example, you do $1m ebitda 2023. Market conditions slow down due to high interest rate environment and reduction of CAPX spend. Market conditions have slowed but now you have a CEO who is going to potentially approach you with "I'm not making enough." If it's truly market conditions for slow down how would Andrew Wilkinson approach this issue?

@ianhecht4026 2 ай бұрын

This episode is gold 👏

@504_HotBoy 2 ай бұрын

The worst is the person that hires a ceo and micromanages them removing the freedom to operate.

@moheuddin_sehab 2 ай бұрын

I love this episode

@jay00705 2 ай бұрын

🔥

@ThisIsNotWhatItLooksLik 2 ай бұрын

44:11 reference checking

@Rickyyis 2 ай бұрын

Yes, it is possible to steer an elephant while riding it. The rider can effectively direct the elephant where to go.

@RyanSaplanPT 2 ай бұрын

56:00 what does he mean “they’re within operating platforms” ?

@shamrock7599 2 ай бұрын

I was wondering this too.

@LukeDupin 2 ай бұрын

I'll swing back to listen to this one in a few years. I'm not "here" right now.

@yvesilboudo7009 2 ай бұрын

Yeah this is a problem we all have

@yashkhelkar 2 ай бұрын

Bro I am watching this with no business of watching this.... I just want to learn.

@tafsir5191 2 ай бұрын

from 17:42

@andreisaioc 2 ай бұрын

Door three would be to sell and found other companies.

@tomascardenasg 2 ай бұрын

Shaan is hiring for his ecom biz

@Fadogar911 2 ай бұрын

45:12 this, at least in Europe is against the privacy laws and in theory illegal. Somebody who doesn't have permission from you to give information about you, can't legally be used as a reference or for investigating the person. just FYI, i'm sure it's being done a lot, even here.

@oldAyushShuklaYouTube 2 ай бұрын

KZfaq algo give me more quality content like this

@grahamkennedy7221 2 ай бұрын

Did? / does? He use EOS?

@begracefulonline 2 ай бұрын

What about access to financials and bank accounts?

@shamrock7599 2 ай бұрын

As the business owner, he would have access to those at any time he wants.

@rathgrams 2 ай бұрын

I plug this pod to so many people I should be getting a cut 😂

@nuthinking39 2 ай бұрын

Won't stock options and bonus be very similar in case of company success or not? Why are stock options less incentivising? Surely some owners don't like to give a way anything, even if paid at a discounted valuation.

@shamrock7599 2 ай бұрын

Probably because with stock, you would need to actually sell shares to realize the gain, but with a bonus, you just get straight up cash immediately.

@christianpace1081 2 ай бұрын

Asymmetry - Andrew explained why

@faisalislam9840 2 ай бұрын

Not 1st

@TheJoanml Ай бұрын

Look at the astrology natal chart of the CEO 🧑‍💼

@sethmensah4486 28 күн бұрын

What's a natal chart?

@antoniocollins 2 ай бұрын

4.1

@DeskCounter Ай бұрын

👍

@chrispedersen2526 2 ай бұрын

What if the health scare is fake, and Iron Mike is just buying a little more time to get into shape? I know he's really old, but I hope he pulls a George Foreman and knocks out Jake Paul and give his career the proper finish it deserves.

@TylerVanzo 2 ай бұрын

Even for MFM audience this is extremely niche.

@faisalislam9840 2 ай бұрын

True that man. Although, I bet there will be some golden nuggets in here

@TylerVanzo 2 ай бұрын

@@faisalislam9840 always are

@christianhirwa8241 2 ай бұрын

Still great

@manuelmao4700 2 ай бұрын

you know this is flattery for them? No niche is too small if it's yours.

@brian_akhtar 2 ай бұрын

they had a previous episode where they talk about trying to “level up” rather than “level down” (ex: level down would be Hormozi trying to make new content that is directed at ALL people with a video like “how to find your purpose”)

@moneysignclubboss 2 ай бұрын

ISN'T THIS OLD? 🙋 DIDN'T HE SAY THIS BEFORE 🤷

@roberthicks5353 2 ай бұрын

Am I tripping or does he look like RDJ???

@tobias2688 2 ай бұрын

Andrew Wilkinson again. Stop promoting this guy so much and look for the long term stock price of his company, Tiny.

@robert95346 2 ай бұрын

Idk why but Wilkinson always gives me psychopath vibes.

@bernardking2749 2 ай бұрын

Andrews' advice for checking references is going to get him sued big unless he is clearing that with his prospective ceo. This is terrible advice.

@striveg3525 2 ай бұрын

Please stop with these unrelatable episodes. (Almost) no one here is trying to hire CEOs, investing their millions into a billion or buying businesses for multiple millions of dollars. The show is called My First Million cause it's what it was all about. Bring it back.

@kairunjoroge7157 2 ай бұрын

Your level of entitlement is extremely shocking.

@kalebrowland5093 2 ай бұрын

i need a ceo, so this helped

@kairunjoroge7157 2 ай бұрын

@@kalebrowland5093 Nice! Glad to hear that man. 🙌