How I Turned $5,000 Into $2.6 Billion
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Paul Orfalea is the founder of Kinkos which sold to Fedex for $2.6 Billion in 2004. In this interview I ask him: 1) how he turned a $5000 investment into a $2.6 Billion company, 2) what it's like living the billionaire lifestyle and 3) his business advice to entrepreneurs getting started out.
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Timestamps:
00:00 - Intro
01:11 - Selling the business
02:38 - How Paul made his money
04:07 - How he turned Kinko’s into a billion-dollar business
11:01 - How he felt selling Kinko’s
14:05 - Was it worth it?
16:46 - Advice for people starting out
17:57 - Paul’s first job
18:37 - Paul’s superstition / Why Paul doesn’t brag
21:18 - Finding your business’ weaknesses
22:58 - What makes a store good
25:00 - Other businesses Paul started
26:35 - How people should live their lives
27:12 - Paul was lucky
29:32 - How Paul enjoyed the money
31:18 - Silliest ways Paul spent money
32:37 - Paul’s plane
34:55 - Is Paul happy?
36:24 - What Paul wasted money on
36:55 - How Paul’s wife impacted the business
38:47 - Paul’s memorable moments
39:53 - The day Paul sold Kinko’s
40:51 - Lowest moments of running Kinko’s
43:47 - What most people don’t know about being wealthy
44:47 - Paul’s charitable causes
45:56 - How Paul raised his kids with money
47:35 - Paul’s legacy
48:01 - Where Paul wants to go in the afterlife
49:40 - How someone can become a millionaire today
51:27 - How to come up with business ideas
52:24 - 3 things you need to be successful
54:17 - Why recognition is important
55:02 - Why Paul wants lawsuits
57:23 - Memorable employee story
58:25 - How do you spend all the money
1:00:41 - Inheriting wealth
1:01:49 - How Paul spends his days
1:03:02 - What makes a great life
