Episode 10: Interview with Alvin Poh, an eight figure local entrepreneur who exited his company at $30M
First published
07/06/2021
Genres:
society
personal
journals
Listen to this episode
Summary
In life, we struggle to find meaning and purpose as it feels like we are going nowhere and chasing a shiny object after another. This is why we created the "Pursuing Our Own Paths" Podcast to document our journey as two individuals who decided to go away from the conventional path. James being an ex-high paying engineer at a well-known US firm to becoming an esports personality and entrepreneur. Ervin going from a normal student to failing two businesses and finally succeeding in his third business - freelance copywriting. Today, we chose to release the final episode of Season 1 earlier due to a special event coming up. Listen on as we had an amazing interview with our guest who sold his company for $30M at a young age of only 33 years old... Fun points we talked about in this episode: 1) The secret to how Alvin scaled his business from 0 to 8 figures in twenty years with ZERO outside funding. (Listen till the end of the episode for a special surprise about it) 2) When it comes to starting a business, most rookie entrepreneurs or people who are doing it for the first time think of many reasons, such as becoming rich, famous, or having the best product in the world. However, all of these things are not as important as this one thing Alvin talks about. (03:00) 3) The three stages of business and how they are different from each other. (The first phase is what we know as start-up, the second phase is growth. Listen here for the third stage) (05:05) 4) The main stage of business that Alvin focuses on when coaching other entrepreneurs now. (It's not start-ups, but they can still benefit from it) (06:00) 5) What is "Blitzscaling" and how do some of the most successful start-ups such as Airbnb and Uber use this business growth strategy to go from nothing to becoming a unicorn company. (A unicorn company is a private company valued at one billion dollars) 6) How Ervin and Alvin realized at an early age that in order to make more money, you should focus on learning high income skills and creating products to sell to customers Versus working a part-time minimum wage job making $5-$10 an hour. (11:00) 7) There's a myth that cofounders have to be closely related whether it be family or childhood friends. Here's why this is the wrong metric to look at and what's the real metric you need to use to see if it's a good fit to be cofounders (21:00) 8) The "Tuas and Changi Airport" analogy when it comes to sharing the same vision for a business between cofounders. (25:00) 9) How did Alvin's friends and family react when he decided to go all in on his business. (There's a catch but Alvin made it work. Plus: There's a very powerful advantage when you start things young) 10) With great power comes great responsibility. Listen to what Alvin has to say on paying the price for success. (There's a difference between enjoying the work and enjoying the end result) (31:00) 11) What was Alvin's first reaction when he saw an eight figure cheque enter his bank account and life after leaving Vodien. (Guess what? He bought a Lambo!) 12) Alvin's upcoming book launch on 07/07 and where you can get a copy for yourself Connect with Ervin here: Facebook: https://www.facebook.com/kaizencopywriting/ Subscribe to the Freelance Copywriter Lifestyle Newsletter: https://kaizencopywriter.com/ Connect with James here: Twitter: https://twitter.com/ELolwr?s=08 Facebook: https://www.facebook.com/jlgsoon Connect with Alvin here: https://superscaling.com/book/
Duration
1 hour and 1 minute
Parent Podcast
Pursuing Our Own Paths
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