He Got Fired By His DAD… So He Built a $60M/yr Empire ft. Craig Fuller

ℹ️ EPISODE INFO

Released

June 13, 2024

Duration

56m

Channel

My First Million

Watch on YouTube

▶ Open ↗

📝 EPISODE DESCRIPTION

[Steal This] Get our favorite copywriting frameworks that have made us millions 👉 https://clickhubspot.com/cfg 👈 Episode 596: Sam Parr ( https://twitter.com/theSamParr ) talks to Craig Fuller ( https://x.com/FreightAlley ) about how he turned dying hobby magazines into a cash flow machine. — Show Notes: (0:00) Intro (2:45) Economics of long-haul trucking (3:36) Getting fired from the family business (5:30) Fuel cards for truck drivers (6:40) How FreightWaves hit $20M ARR in 2 years (9:08) Acquiring FLYING for $3.5M (12:14) Opportunity: Depressed media properties (16:02) From losing $8 per subscriber to profitability in 1 year (20:31) A media side hustle becomes a real estate main hustle (22:55) Craig's tolerance for being leveraged (25:32) Pre-selling $28M units pre-construction (28:51) Diversity, Asymmetrical risk, and generational security (31:11) Teams to diversify your time (34:21) Building a portfolio of hobby magazines (37:20) Content to commerce playbook (47:03) The story of William Randolph Hearst (51:32) What's the chase? (53:15) "The best thing to give a founder is an enemy" — Links:

• FreightWaves - https://www.freightwaves.com/
• Knight-Swift - https://knight-swift.com/
• Firecrown - https://firecrown.com/
• The Chief - https://tinyurl.com/36khrt8y

— Check Out Sam's Stuff:

• Hampton - https://www.joinhampton.com/
• Ideation Bootcamp - https://www.ideationbootcamp.co/
• Copy That - https://copythat.com
• Hampton Wealth Survey - https://joinhampton.com/wealth
• Sam’s List - http://samslist.co/

— Check Out Shaan's Stuff:

• Shaan's weekly email - https://www.shaanpuri.com
• Visit https://www.somewhere.com/mfm to hire global talent (like Shaan does) and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than their US equivalents.

My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

🎤 SPEAKERS

• Sam Parr

  host

  Co-host of the My First Million podcast and founder of The Hustle newsletter.

• Craig Fuller

  guest

  CEO of FreightWaves and entrepreneur building a media and commerce portfolio (including Firecrown Media).

🧾 EPISODE SUMMARY

In this episode of My First Million, featuring Sam Parr and Craig Fuller, He Got Fired By His DAD… So He Built a $60M/yr Empire ft. Craig Fuller explores Craig Fuller’s playbook: buy niche magazines, monetize audiences with commerce Craig Fuller recounts being fired from family businesses, then building FreightWaves quickly to about a $20M business within a few years by leveraging timing, relationships, and venture-backed digitization trends in supply chain.

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