The Multipreneur: He’s Building A $10M Portfolio of Income Streams

Starter Story
2 Nov 202318:21

Summary

TLDRIn this insightful interview, Alex Lieberman, the founder of Morning Brew, shares his journey from selling a successful newsletter to becoming a multipreneur. He discusses his vision of launching multiple businesses and overseeing them as a CEO, without directly managing them. Alex reveals how he identified a gap in the market for a ghostwriting agency for B2B executives, leading to the creation of Story ARB, which is already generating a million-dollar revenue. He also delves into his strategies for finding new business ideas, achieving product-market fit, and hiring top-tier CEOs, offering valuable insights for aspiring entrepreneurs.

Takeaways

  • 🚀 Alex Lieberman started a newsletter in college, which he later sold for millions and then embarked on a journey to find his next big idea, leading to the creation of a personal holding company.
  • 🌟 After selling Morning Brew, Alex spent a year exploring his purpose and eventually decided to become a multipreneur, aiming to launch and oversee multiple businesses without being the CEO of any single one.
  • 💡 Alex's vision for his personal holding company is to have over a dozen companies under it within the next 5 to 10 years, where he acts as a co-founder and chairman, but not the CEO, allowing him to focus on the early stages of business development.
  • 📈 One of Alex's businesses, Story ARB, is already a million-dollar business with 12 clients paying $7,000 a month, demonstrating the success of his personal holding company model.
  • 🛠 Alex emphasizes the importance of finding and solving real problems as a foundation for new business ideas, rather than just brainstorming in isolation.
  • 🔑 He believes in the concept of 'unteachables' when hiring CEOs for his businesses, looking for qualities like an obsessive brain, critical thinking, high integrity, strong communication, and a great work ethic.
  • 💰 Alex discusses the compensation structure for CEOs in his companies, which includes a salary and equity, with profits distributed to equity holders once product-market fit is achieved.
  • 🤔 He acknowledges the risks of personal holding companies, such as dilution of focus and the need to continually offer value to the businesses and CEOs within the holding company.
  • 📊 Alex defines product-market fit in terms of customer recommendation rates and retention periods, aiming for a high percentage of clients recommending Story ARB and a longer average customer retention period.
  • 💡 For those interested in starting a personal holding company, Alex advises to build on one's strengths and interests, and to start with a low-risk approach by testing ideas incrementally.
  • 🚀 Lastly, Alex suggests that entrepreneurship doesn't require a leap of faith but rather a series of careful steps, using social media and other platforms to test ideas before fully committing to a business.

Q & A

  • What was Alex Lieberman's initial business venture?

    -Alex Lieberman started a newsletter in his dorm room called Morning Brew, which he later sold for millions.

  • How did Alex feel after selling his first business?

    -After selling his business, Alex felt lost and spent months trying to figure out what idea he would pursue next.

  • What is a multipreneur according to Alex Lieberman?

    -A multipreneur is an entrepreneur who launches multiple different tiny businesses and then hires CEOs to run them, with the goal of having a portfolio of companies under their control as co-founder and chairman.

  • What is the current status of one of Alex's new businesses?

    -One of Alex's new businesses, a ghostwriting agency for B2B executives, already has 12 clients paying $7,000 a month, making it a million-dollar business.

  • What is Alex's framework for finding new business ideas worth pursuing?

    -Alex suggests being a magnet for problems, finding and hoarding people's problems, and then thinking about novel solutions to those problems.

  • How did Alex validate the demand for his ghostwriting agency before creating the product?

    -Alex posted a tweet asking executives if they would be interested in a service that helps build their audience on social media platforms for a yearly fee, and received 25 DMs expressing interest.

  • What is the profit margin for Alex's ghostwriting agency business?

    -The profit margin for this type of business is roughly 30 to 35%.

  • How does Alex define product-market fit for his businesses?

    -Alex defines product-market fit in two ways: as a percentage of current clients who would recommend the service and the retention rate of those clients, aiming for an average of 10 months.

  • What qualities does Alex look for in a CEO for his businesses?

    -Alex looks for CEOs with an obsessive brain, great critical thinking, high integrity, strong communication skills, and a great work ethic.

  • How does Alex approach compensation for CEOs in his businesses?

    -Alex offers CEOs a salary between $100,000 to $200,000 a year, plus equity in the business ranging from 10 to 50%, with profits distributed to equity holders every quarter after the business hits product-market fit.

  • What are the potential downfalls of a personal holding company model?

    -The potential downfalls include dilution of focus and lack of value proposition, which can lead to not being able to command enough equity or attract talented employees.

  • What advice would Alex give to his early self based on his entrepreneurial journey?

    -Alex advises finding great problems to solve, being a magnet for problems, and taking small, intentional steps to test ideas rather than taking a leap of faith.

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Etiquetas Relacionadas
EntrepreneurshipBusiness GrowthNewsletter SuccessMillion-Dollar IdeaPersonal Holding CompanyCEO StrategiesProduct Market FitGhost Writing AgencyBusiness CoachingStartup Story
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