Today we have Andrew Wilkinson (@awilkinson) of Tiny. Tiny is a holding company started by Andrew that buys “wonderful internet businesses” with the intention of holding them forever (akin to Berkshire Hathaway). Altogether, Tiny’s businesses do high 8-figures in revenue and employ close to 400 people across 20 companies. If you want to know more about his background, Andrew was interviewed on our podcast so give Episode #63 a listen. Today he answers: How do you find CEO’s that you can trust, You’ve mentioned Warren Buffet a lot, any other leaders you look up to?, Is “company building” a repeatable process? What % of it can be automated?, Can you recommend your favorite business books?, What is your biggest failure and what did you learn from it?, What is a core attribute you look for when you hire somebody?, How do you make connections with other entrepreneurs while residing in a non-startup centric city?, How much of your investments are made up of personal capital vs. OPM (Other People’s Money)?, During your time at MetaLab, what was the best way to acquire clients?, Are you taking Buffett’s advice and reading 500 pages a day?, As a person, how have you evolved over the years?, How do you start a fund with money made from an agency?, What’s the required mindset shift from running one business to delegating a team to run multiple?, If you internalize one principal into your kids, what would it be?, When you built your house, what are some things that could have made the frustrations easier?, Can I skip building an agency and go straight into investing? and What’s the worst & best advice you get from people who tell you how to become successful?.
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Don’t press snooze on this opportunity: sleep supplements
The signal: As meditation becomes mainstream, people may be surprised to find that searches for sleep apps double their meditation counterpart. As people invest in getting a better night’s rest, there’s opportunity abound, including physical products like weighted blankets or premium PJs, supplements, popular insomnia drugs having their patents expire, companies paying their employees to sleep better, marketing for sleep specialists, or online sleep education (ex: sleep apnea test has 27k searches per month).
The alternative milk market is getting frothy
The signal: As more people wave goodbye to dairy, alternative milk is slowly taking over; it has already cornered 13% of the market. With the exception of soy milk, all of the alt-milks have been on the up, with some of the newer entrants including hemp milk and pea milk. Other alt-products are getting attention, including cashew cheese, with 18100 searches per month.
Capitalizing on the Airpods market, making more money than Shopify
The signal: Since killing the headphone jack, Apple has graced the world with AirPods, which did an estimated 60m units in 2019. That means AirPods alone are bringing in approx ~$10b in revenue, more than Twitter, Shopify, or Spotify, to name a few popular tech giants. Opportunity lies in Apple opening up SiriOS or the wave of iPhone accessories (including cases, cleaning kits, hooks, and keychains) which have shown “hockey stick” growth alongside their hardware predecessor.
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