203: Why You Should Stop Selling Yourself Short and Think Like A Billionaire

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think like a billionaire
 

Have you stopped to consider the next step in your entrepreneurial journey?

Perhaps you own a six or seven figure business now, but where will you be in 10 years? Will you still be living in the grind? Or are your sights set on acquiring companies and building a portfolio?

Today’s guest has done it all. He’s built his own business, was the CMO of Karmaloop, worked as a consultant, and now is the CEO of AutoAnything (just one of the businesses in his current portfolio). Drew Sanocki is back to talk about this journey and his recent entry into the acquisition side of ecommerce.

Drew will share his insights on buying businesses, establishing company culture, hiring the right team, and why these days he’s more focused on creating alignment than hustling.

Enjoy!

Episode Highlights

  • 2:53 A quick win with Facebook’s new cost cap bidding.
  • 9:55 The perspective Drew gained from a trip around the world and how it led him to think like a billionaire by focusing on acquiring assets rather than hustling.
  • 13:14 How Drew made his first acquisition.
  • 16:39 Drew’s journey from Chairman of the Board to becoming CEO of AutoAnything.
  • 18:50 What it’s like to run a $100 million dropshipping company.
  • 20:09 Comparing life as the CMO of Karmaloop vs. the CEO of AutoAnything.
  • 23:29 The importance of making the right hires if you want to be a successful CEO.
  • 25:28 Drew’s approach to building a strong company culture.
  • 28:58 The impact of a company’s size on its culture.
  • 32:17 How long it took Drew to make cultural changes once he took over as CEO.
  • 34:36 Drew’s ebb and flow between lifestyle businesses and managing a company at a larger scale.
  • 37:59 A lesson in the importance of thinking like a billionaire.
  • 40:01 What you need to know now in order to succeed as an investor in the future, and how to use your current skill set to your advantage.
  • 48:25 How Drew made the decision to make a change in his professional life.
  • 51:05 The importance of rest, setting boundaries, and work-life balance.
  • 53:57 How being starved for resources helps you to prioritize.
  • 54:59 OKRs: What are they and how they’ve helped create alignment and focus within Drew’s business.
  • 58:15 Why Drew is fired up about direct mail in 2019.
  • 1:00:12 How Drew manages to run three companies at once.

Links And Resources

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