Episode Description:
James shares a personal story from his early days as an entrepreneur, focusing on a critical lesson learned during a business pitch involving Tupac Shakur's posthumous album. Initially detailing the misconceptions about entrepreneurship, he narrates his journey from working at HBO while simultaneously running his first company, Reset, which specialized in creating websites, notably in the entertainment sector. A significant opportunity arose with Tupac Shakur's manager and mother planning to release a new album and greatest hits collection, which promised Reset a $90,000 deal. However, due to James’s unfamiliarity with Windows-based PCs, the pitch meeting with the manager went disastrously wrong, leading to the loss of the project. Despite this setback, he lied to his employees about the meeting's outcome to maintain morale. This experience taught him the importance of preparation, reliability, and displaying confidence as a leader. He concludes by reflecting on the broader challenges of entrepreneurship and the idea that entrepreneurial skills are valuable both as a business owner and within a larger organization.
Episode Summary:
00:00 The Entrepreneurial Journey Begins: Lessons from Tupac Shakur
00:20 The Reality of Entrepreneurship: Myths vs. Facts
01:01 Launching My First Company: The Early Days of Reset
01:57 The Hustle: Balancing HBO and Reset
03:44 The Wu-Tang Clan Project: A Turning Point
05:45 Expanding the Portfolio: From Hip-Hop to Corporate Websites
07:51 The Tupac Shakur Project: A Meeting to Remember
25:51 Lessons Learned: The Importance of Preparation and Reliability
30:58 Reflecting on Entrepreneurship: Growth, Challenges, and Mentorship
31:46 Closing Thoughts and Encouragement for Future Entrepreneurs
------------
------------
------------
Thank you so much for listening! If you like this episode, please rate, review, and subscribe to “The James Altucher Show” wherever you get your podcasts:
Follow me on social media:
Wall Street Insane! EP05: Omid wrote a 10 pages letter just to quit James! The Rise and Fall of The StockPickr
How to Trade if War Breaks out between China and Taiwan!
How I created a 3 million subscribers' YouTube Channel with curiosity! - Evan Puschak
Will the US lose to China in the War!? with General Robert Spalding
Should we have 12 years old president?
How Sahil Lavingia created the multi-million dollar company, Gumroad.
Adulting 101
Wall Street Insane! EP04: I was so miserable, I just want to get out...
I Was Afraid...
What really caused the Inflation and the use cases of cryptocurrencies with Tascha
Julia Cameron gave me permission to Skip The Line (Re-Release)
The important attributes to be successful in the modern world with Jeff Lerner
Jeff Lerner gave me the most practical business advice to start businesses
For Laughs: Life's Great Irony
From The Chess Experience Podcast: My Success Strategies for Adult Improvers
How to beat someone who's better and more equipped than you? with Wally Green
Wally Green: From Gang to Pro Table Tennis!
The Villain's Journey of the Criminal Mastermind, Paul Le Roux with Evan Ratliff
Kitboga: I scam the scammers and they yelled at me!
Wall Street Insane! EP03: Betrayal of the decade!
Create your
podcast in
minutes
It is Free