Written By Paula Pant
Hey there!
As I write this, the Federal Reserve is meeting.
By the time you read this, they may have already announced what many analysts expect will be their second rate cut of 2024 – a quarter percentage point interest rate reduction.
At the time I’m sending this, they haven’t made […]
By Paula Pant
We sit down with David Novak, the co-founder and former CEO of Yum! Brands, the giant parent company behind KFC, Taco Bell, Pizza Hut, and the Habit Burger Grill. David shares stories from his remarkable career, offering insights into leadership, decision-making, and personal growth.
We dive into one of David’s most memorable projects: the creation of Crystal Pepsi. David talks about how the idea was born out of a gut instinct when he noticed a trend toward clear beverages. The media buzz was massive, and he was convinced it was a winner. But the Pepsi bottlers pushed back, saying it didn’t taste enough like traditional Pepsi. David pressed on anyway. The product launched to a lot of fanfare but ultimately flopped.
David reflects on this experience as a lesson in the importance of listening to feedback, even when you’re sure you’re right.
The conversation then shifts to David’s unique upbringing. He lived in 23 different states before high school. This taught David to adapt quickly, make friends fast, and assess people and situations—a skill set that became invaluable in his leadership roles.
David then takes you through his early career, from being a mediocre student who found his passion in advertising, to making a pivotal move from marketing to operations at PepsiCo. This shift was crucial, setting him up to eventually lead Yum! Brands.
David’s journey is filled with stories of hard decisions, like turning down a bigger job at Frito-Lay because it didn’t align with what truly made him happy. He shares his philosophy on prioritizing joy and finding fulfillment in your work, a principle that guided his entire career.
Leadership is a major theme in the discussion. David talks about the balance between confidence and humility, using Warren Buffett as an example of someone who embodies both. He also shares his thoughts on how to handle criticism and feedback.
According to David, the key is to listen carefully, avoid being defensive, and understand whether the feedback is valid before making decisions.
David also offers practical advice on personal development. He talks about his “Three by Five” exercise, where he regularly assesses who he is today and what he needs to work on to become more effective. This habit of self-reflection has helped him stay grounded and continually improve as a leader.
The episode wraps up with a discussion on company culture. David believes that creating an environment where everyone feels valued is essential for success. He emphasizes the importance of leaders modeling the behavior they want to see in their teams and being the first to extend trust and positivity.
David’s stories and insights provide a deep dive into what it takes to lead a major company, make tough decisions, and continually grow both personally and professionally.
By Paula Pant
If you want to learn about building wealth through entrepreneurship, you’ll enjoy this episode.
When Rachel Rodgers graduated from law school, she didn’t take the conventional path to working at a big law firm. Instead, she opened her own practice, specializing in intellectual property law. Many of her clients were entrepreneurs and small business owners.
Rachel quickly realized that many of her clients faced significant challenges in trying to grow their business. This ignited a new vision in her: to not just provide legal services but to help entrepreneurs achieve financial success.
She pivoted, shutting down her law practice to open Hello Seven, a company that offers comprehensive business strategies to help entrepreneurs reach seven-figure incomes.
She joins us today to share actionable insights that can help any entrepreneur, side hustler or small business owner reach seven figures in revenue.
By Paula Pant
Feeling stuck in a job you hate, dreaming of exotic adventures? This episode is your escape hatch.
Brad Barrett, host of the ChooseFI Podcast, takes the interviewer role in this special episode, recorded LIVE at a comedy club in Brooklyn.
Brad interviews me (!!) about how I quit my reporter gig and traveled the world for over 2 YEARS! This episode spills the tea on my transformation from newspaper reporter to world wanderer, and talks about how this podcast (now over 500 episodes!) got started. Feeling inspired? This episode is your travel hack manual for designing your dream life on a budget.
Enjoy!
By Paula Pant
If you’ve ever thought: “I’d love a business BUT …
“I don’t have TIME.”
“I don’t have MONEY.”
“I don’t have IDEAS.”
“I have TOO MANY ideas and I don’t know where to start.”
“I’m not technical.”
“I’m not creative or artistic.”
“I’m not good at sales.”
You’re not alone. Countless people don’t start businesses or side hustles for these reasons.
And they’re losing thousands — perhaps millions — in opportunity cost.
How much could you make if you started a side hustle that eventually scaled into a business? Possibly millions. Today’s guest, Noah Kagan, is living proof.
Noah was employee #30 at Facebook. His stock options, if fully vested, would be worth over $1 billion today.
(If you want to do the math — his stock options came to 0.1 percent of the company, which has a current market cap of $1 trillion.)
But Noah was fired just a couple months before his stock options vested. So rather than getting a billion-dollar payout, he got nothing.
He sank into a deep depression, eventually recovering with the help of a therapist who counseled him on how to reframe the experience.
Then he rolled up his sleeves and got to work. He became a serial entrepreneur, building multiple businesses. His most successful venture now makes $80 million in gross revenue, and his personal take-home is $3.3 million per year (which comes from a $200,000 annual salary and $3.1 million profit distribution.) His net worth is $36 million.
Not a billion, but still not too shabby.
Noah recently wrote a book called “Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours.”
He sits down with us (in person!) to share:
— how to find business ideas
— how to overcome objections and rejections
— how to scale
By the end of the episode, the common objections that you often hear — like “I don’t have time/money/ideas” — will be quashed.
Please enjoy!
By Paula Pant
We sit down with Steve Chou, an accomplished entrepreneur who, alongside his wife, built two businesses that each bring in seven figures – and gives them the freedom to spend more time with their kids.
We delve into the challenges he faced in the early stages of his business and how he overcame these obstacles.
Additionally, Steve opens up about the personal and emotional aspects of running a business. He candidly discusses the fears, doubts, and sacrifices he and others have encountered during this transformational journey, emphasizing the importance of resilience and avoiding the comparison trap.
Whether you’re contemplating leaving your job to start your own venture or simply seeking inspiration from a seasoned entrepreneur, this episode with Steve Chou is a must-listen.
By Paula Pant
As a former corporate powerhouse turned successful entrepreneur, Amy knows firsthand the challenges and triumphs of building a business from scratch.
Amy is the host of the top-ranked podcast “Online Marketing Made Easy,” and the owner of a multi-million dollar digital course business. She is also the author of “Two Week’s Notice,” a guide to quitting your job and building your own business.
Get ready to be inspired as we uncover Amy’s secrets to building a thriving business and learn how you can apply her proven techniques to achieve your own entrepreneurial dreams.
Whether you’re just starting out or looking to take your business to the next level, this episode is packed with actionable advice that you won’t want to miss.
By Paula Pant
The majority of financial advice is geared to people with 9-5 jobs:
• “Negotiate for a raise.”
• “Max out your 401k match.”
• “Budget based on your income.”
Where’s the financial advice for people who earn money in tips: restaurant servers, bartenders, hairstylists, concierge, valets, ushers, nail salon workers, strippers, or other service industry professionals?
What about gig economy workers, freelancers and entrepreneurs? People who don’t earn a regular paycheck?
Not only do these workers earn a volatile and unpredictable income, they also often don’t have job-provided health insurance, retirement plans, and paid time off. They need to provide themselves with these benefits. What should they do?
That’s where Barbara Sloan comes in. She’s a financial coach and author of “Tipped: the life changing guide to financial freedom for waitresses, bartenders, strippers, and all other service industry professionals.”
Her book and advice applies to anyone who works outside of the traditional confines and systems.
If you (or someone you know) works for tips, you’ll love Barbara. And if you’re curious about exploring work outside of the normal 9-to-5, and wonder how to set yourself up for financial success when your income is hit-or-miss, this episode is for you.
Enjoy!
By Paula Pant
Okay, maybe the phrase “side hustle” is overused. But it’s also misunderstood.
“Side hustle” is a catch-all term that people use to describe everything from low-paid gig economy labor – Doordash, Uber Eats, Rover – to six-figure consulting for Fortune 500 companies.
On the remote-work side, it includes everything from freelance graphic design (services) to selling bundles of presentation deck templates (digital products).
On the physical goods side, it includes everything from wholesaling (real estate) to flipping antique grandfather clocks (personal goods).
On the e-commerce side, your side hustle might mean starting your own manufacturing, white-labeling and shipping services, in which you distribute toothpaste or trash can lids or desiccant packs.
How do we make sense of such an umbrella concept?
In this interview with Nick Loper, we learn how to wrap our minds around the huge world of hustles. We talk about how to understand the options available, choose a path, and start with minimal capital.
This interview originally aired as Episode 85.
Enjoy!
By Paula Pant
When Rand Fishkin was 25 years old, he carried $500,000 in credit card debt.
Less than a decade later, Rand was the Founder and CEO of a company that grossed $35 million in annual revenue.
In this podcast episode, Rand shares the story of hitting his financial rock-bottom and making the ultimate comeback.
