Here is a good podcast interview to understand the power of thinking big. Many people want to build an app, start a newsletter, or maybe start a podcast. What would happen if you aimed much higher?
In 2008, Ryan Begelman bought into Bisnow Media, became CEO, and bootstrapped it with its founders. They took the business from $1M to $20M in revenue. He sold Bisnow for more than $50 million.
He co-founded the Summit series which brings together people like Jeff Bezos and Richard Branson in high-end events.
Ryan bought America’s largest ski resort and his creating his own community there. He did it by convincing 50 people in his network to buy $1 million dollar plots of land.
Ryan also buys and owns various businesses.
He says you need three things to make business deals:
1. Capital – Which is not that difficult with all the money out there.
2. Human Capital – finding good people to run the companies.
3. Deals that are priced well – This can be hard to do.
He also introduced 4 ways of finding business deals:
Hunting – cold outreach, attending events, networking
Trapping – becoming known in the niche, hosting events
Farming – helping up and comers and building goodwill
Trading – Building a community and trading deals with others
An example he gives of Trapping is hosting events. He meets people for coffee with cold outreach. Then holds a small event in the back of a bar and slowly becomes the authority in that niche. After doing many of these, he has hundreds of people gathering and is the centre of this community.
Business Opportunity: While events now are on hold with the pandemic, there is a lot to be said about his method of becoming an authority. Holding events is one of the highest value-added activities you can do. Sam Parr of The Hustle is another person that started with events.
In 2008, Ryan Begelman bought into Bisnow Media, became CEO, and bootstrapped it with its founders. They took the business from $1M to $20M in revenue. He sold Bisnow for more than $50 million.
He co-founded the Summit series which brings together people like Jeff Bezos and Richard Branson in high-end events.
Ryan bought America’s largest ski resort and his creating his own community there. He did it by convincing 50 people in his network to buy $1 million dollar plots of land.
Ryan also buys and owns various businesses.
He says you need three things to make business deals:
1. Capital – Which is not that difficult with all the money out there.
2. Human Capital – finding good people to run the companies.
3. Deals that are priced well – This can be hard to do.
He also introduced 4 ways of finding business deals:
Hunting – cold outreach, attending events, networking
Trapping – becoming known in the niche, hosting events
Farming – helping up and comers and building goodwill
Trading – Building a community and trading deals with others
An example he gives of Trapping is hosting events. He meets people for coffee with cold outreach. Then holds a small event in the back of a bar and slowly becomes the authority in that niche. After doing many of these, he has hundreds of people gathering and is the centre of this community.
Business Opportunity: While events now are on hold with the pandemic, there is a lot to be said about his method of becoming an authority. Holding events is one of the highest value-added activities you can do. Sam Parr of The Hustle is another person that started with events.
