Bootstrapping to Million PROFITABLY w/ Shawn Allen (M@C Discount)
Shawn Allen is the co-founder of M@C Discount. Previously, he was President and GM of Asset Auctions, COO of AssetNation and Senior Product Manager of Giftcards.com which were all successful internet marketplace businesses.
M@C Discount stands for Merchandise at Cost. The company buys truckloads of closeouts merchandise and customer returns from major retailers. They receive "New"​ and "Used"​ items that are sold individually at aggressive discounts, in-store and online. What’s great is that all items in their online auctions start at $1 with no reserve price.
His background in reverse logistics started by working at another company that was acquired by FedEx. The shipping company lost interest in that portion of the business, which was dealing with the returned items many retail stores accumulate. Shawn used his background in auctioneering and his partner Kellen’s expertise in buying products in designing their current business model.
In this episode, Aaron and Shawn talk about the rapid growth of his company, how they have done it profitably, and why auctions are such a great model for selling online.
Shawn Allen’s Challenge: When you have the opportunity, give people you’re on the fence with a second chance
Timestamps:
00:54 - 01:14 Shawn Allen Growth Trajectory
01:20 - 01:56 What's being sold on MAC Discount?
02:51 - 04:08 How Did Shawn Allen discover this business opportunity
04:28 - 05:35 Why Auction is a big opportunity
05:56 - 06:24 MAC Discount Marketing Strategy
07:24 - 07:59 Shawn Allen's Playbook
08:38 - 10:34 MAC Discount's Future
10:54 - 14:32 Workflow of MAC Discount
18:01 - 20:48 The constraints that MAC Discount is facing
21:08 - 22:10 MAC Discount's Software Developers
22:30 - 23:26 Creating the media that get the goods sold
24:31 - 26:02 Learnings from customers
27:25 - 28:55 How Shawn Allen Started
29:20 - 30:28 Fixing ever problems faced
30:52 - 31:45 The Importance of Having Connection with the community
33:26 - 33:43 Shawn Allen's Call To Action
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How Solopreneurs Can Make Millions w/ Justin Welsh
Justin Welsh is a solopreneur that has made more than $3 million running from a collection of digital products. He has leveraged a large boutique advisory firm for entrepreneurs and creates digital products for creators.
He has a decade of experience building two $50M+ ARR businesses, teams of 150+, and helping raise over $300M in capital from VC firms like HLM Ventures, Leerink Transformation Partners, Vivo Capital, Toba Capital, and athenahealth. Over that period, he played the role of Chief Revenue Officer and SVP of Sales at high-growth transactional SaaS companies.
His company is an early-stage start-up sales consulting firm that drives revenue growth from an experienced SaaS revenue operator and start-up consultant with proven go-to market strategy and playbooks for scale to $50M+.
Justin Welsh’s Challenge: Make one Dollar, then go to https://carrd.co/
TIMESTAMPS:
00:00 Who Is Justin Welsh
0:34 Solopreneur
02:36 Products
04:11 Buyers
05:56 Understanding the Solopreneur
08:31 Lifestyle
09:46 Pre requisite
12:49 Strategy
15:07 Practice
16:49 Process in Writing
20:44 Dealing the Problem
24:26 Hook
28:13 Perspective of the Customers
30:26 Echo chambers
34:51 Connection to Customer
36:37 Tracking
39:44 Eliminate, Simplify, Automate, Delegate
44:00 How to contact me
44:22 Time Management
45:33 Personal Challenge
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The Billion Dollar Opportunity in Specialty Pharmaceuticals w/ Joe Cardosi
In 2019, Joe Cardosi founded Free Market Health to tackle the complicated specialty pharmacy marketplace. In less than four years, the firm has raised over $13 million, grown to 50+ team members, and scaled revenue into the millions.
Free Market Health is a healthcare technology platform focused on fixing the company dedicated to improving the specialty pharmacy ecosystem with a care-driven marketplace platform. They support forward-thinking payers and specialty pharmacies of all sizes who need to operate in a complex and opaque market.
Previously, Joe worked in specialty pharmacy for 15 years and saw the market opportunity firsthand.
In this episode, Aaron and Joe talk about what drives the enormous costs in specialty pharmacies, why Joe was perfectly positioned to found the company, and why patients win when pharmacies compete.
TIMESTAMPS:
1:37 What makes drug a specialty drug
4:02 Importance of health Insurance
5:10 where does free market comes in
6:36 special pharmacy ecosystem vs general pharmacy ecosystem
12:11 mission of free market
17:16 History of specialty drugs
24:20 potential of free market
27:04 dealing with competitor
30:10 family support
33:45 Importance of Middlemen
40:41 Company name & Service
47:05- 51:09 Call to Action
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Morning Brew CEO Austin Rief: The First Step To Success
#shorts
Morning Brew CEO Austin Rief: The First Step To Success
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Can the Morning Brew Make $100 Million? (CEO’s plan)
Austin Rief is the CEO and cofounder of the Morning Brew. In 2020, the Morning Brew was majority acquired for a $75 million dollar valuation, just five years after being founded by two University of Michigan students.
Morning Brew is a media company with an email list of over 3 million people. Their content informs, educates and empowers readers on the business world, money and their career. They bring informative and digestible daily news and information about businesses from Wall Street to Silicon Valley.
In this episode, Aaron and Austin talk about the metrics that matter to the Brew, what Austin learned about hiring and scaling, and how they implemented the EOS model to get outstanding results.
Austin Rief’s Challenge: Harness the power on the internet and learn from it. Leverage technology to make money.
Timestamps:
01:01 Digital Media is the easiest way for an 8-digit exit.
04:02 Mini Company Shouldn't Raise Capital
05:16 Rising Number of Employees for Morning Brew
07:07 People Are More Willing To Come To Morning Brew
08:05 Branding Morning Brew
10:20 The Metrics That Matter for Morning Brew
12:20 Morning Brew is now a Multi-Medium Company
14:10 Visions for Morning Brew
17:00 How Austin Fast-track his Knowledge Attainment
19:20 Importance of Coaches
23:39 The Key to Morning Brew's Success
32:05 Austin Rief's Advice
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How AI Changes Healthcare Forever w/ Dr. Shiv Rao (Abridge)
Dr. Shiv Rao is the CEO and cofounder of Abridge. He was previously a senior executive at UPMC Enterprises and serves as a cardiologist at the Heart and Vascular Institute at the University of Pittsburgh Medical Center.
Abridge is an Artificial Intelligence app that listens to the doctor-patient conversations, provides a transcription, and categorizes specific details such as medications, symptoms, diagnoses, procedures, and the care plan.
Dr. Rao and his team have cataloged more than five million medical next steps for users. Abridge is focused on the rich data in the conversation beyond the required information and providing it to medical professionals and patients.
In this episode, Aaron and Dr Shiv talk about artificial intelligence, how little we remember from our medical visits, and the rise of doctor burnout.
Dr. Shiv Rao’s Challenge: Make it a habit of going to sleep grateful.
Timestamps:
00:00 - 00:40 Who Is Dr. Shiv?
00:44 - 01:50 What is Abridge?
02:18 - 04:08 Difficulties in Medical Definition with Patients
04:30 - 05:35 Doctor's Burnout
06:26 - 10:21 Machine Learning in Healthcare
11:15 - 13:50 Who will benefit from Abridge's Medical Technology
15:19 - 17:53 Building Ambient Technology
18:10 - 20:16 What does Abridge's Medical Tech Do?
21:15 - 22:35 Improving the Medical Technology for Everyone
29: 27 - 30:51 The Importance Of Information in Medical Technology Advancement
32:05 - 34:51 How Abridge Was Built
38:24 - 39:40 Doctor Shiv's Final Call to Action
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