The Realities of Entrepreneurship with Mike & Kass Lazerow

A Note from James:So, in 2006, I was starting this company called StockPicker. This random guy calls me out of the blue and says, "I want to be CEO of your company. I just sold Golf.com and now I'm figuring out what to do." So we meet for breakfast, and he gave me all these ideas that were great. I stole all of them, built up StockPicker, and sold it. This guy and his wife then started their own company, and eventually sold it for $800 million. We've been friends all along. Even though I rejected him and stole his ideas, I'm glad he did much better than if he had joined StockPicker. They decided to come on the podcast and share their secrets of entrepreneurship. So, here’s Michael and Kass Lazerow, two extraordinary entrepreneurs and friends.Episode Description:In this episode, James Altucher sits down with Michael and Kass Lazerow, the dynamic duo behind Buddy Media, a company they built and sold for $800 million. They share their journey from the early days of cold emailing and breakfast meetings to navigating the challenges of the great recession and pivoting their business model. This conversation goes beyond the usual success stories, diving into the reality of entrepreneurship, the sacrifices, the mistakes, and the mindset needed to thrive.What You’ll Learn:The Importance of Pivoting: How to know when it’s time to change your business model and the signs that indicate a pivot is necessary.Building a Resilient Mindset: Insights on handling stress and maintaining a positive outlook during challenging times.Networking and Fundraising: Effective strategies for building valuable relationships and securing investments.Working with Your Spouse: The dynamics of being business partners with your spouse and how to make it work successfully.Marketing and Scaling: Techniques for marketing your startup effectively and transitioning from custom solutions to scalable software.Chapters:00:01:30 - The Unexpected Call: Starting StockPicker00:02:39 - Introducing Michael and Kass Lazerow00:02:50 - The Shift to Social Media00:03:25 - Buddy Media’s Early Days and Challenges00:04:16 - Writing a Book: Shoveling Shit, A Love Story00:05:07 - The Art of Pivoting in Business00:07:53 - The Power of Partnership: Working as a Married Couple00:11:27 - The Evolution of Buddy Media00:16:15 - The Free Felt Business Idea00:18:46 - Navigating Early Challenges and Fundraising00:32:47 - Health Scares and Their Impact on Perspective00:34:13 - The Reality of Entrepreneurship00:40:22 - Balancing Personal Life and Business00:50:31 - Networking and Building Relationships00:56:28 - Writing the Book: Process and Insights01:00:38 - Conclusion and Future PlansAdditional Resources:Buddy MediaGary VaynerchukPeter ThielMark PincusVelvet Sea VenturesThese show notes capture the essence of the episode, providing listeners with clear insights and resources to further explore the topics discussed. ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to “The James Altucher Show” wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn