How I Made My First $1M - The Andrew Wilkinson Story

05 Jul 2024 (4 months ago)

Andrew Wilkinson's Journey to Financial Success

Andrew Wilkinson, co-founder of Tiny, shares his journey of significant income jumps that transformed his career.
He transitioned from being a barista to a web designer, then to a successful entrepreneur and investor.
Wilkinson's early income jumps gave him freedom and allowed him to pursue his passions.
He achieved financial success at a young age, making over a million dollars a year by the time he was 22 or 23.
Wilkinson's successful business exit from Pixel Union earned him millions of dollars.

After his successful business exit, Wilkinson adopted a "20% rule" for spending and investing.
He engaged in frugal practices and gradually reduced his personal spending as his wealth grew.
Wilkinson ventured into angel investing but faced mixed results, with some successful exits and underperforming investments.
He acknowledges the challenges of tracking angel investment returns and compares it to playing roulette.
Wilkinson expresses regret over not diversifying his investments and emphasizes the importance of experimentation.

Despite achieving financial success, Wilkinson experienced anxiety and dissatisfaction.
He reflects on the misconception that money can solve all problems and the weight of money causing familial discord.
Wilkinson emphasizes the need for financial education and guidance to help people achieve financial independence sooner.
He introduces the concept of financial freedom through the "Launchpad," "Enough," and "Life's work" goals.

Wilkinson criticizes the common belief that starting a venture-backed startup is the best path to financial freedom.
He suggests starting a simple business and selling it once it reaches a certain cash flow as a more reliable way to achieve financial independence.
Wilkinson recommends the book "How to Get Rich" for insights on wealth and the dangers of money addiction.
He discusses the concept of "levels of wealth" and argues against gradually increasing wealth beyond one's "enough number."

Wilkinson emphasizes the importance of authenticity and avoiding societal pressures to conform to certain expectations.
He encourages taking action rather than waiting to figure out one's life's work and suggests starting by doing what one loves.
Wilkinson praises Andrew Wilkinson's book, "Never Enough," for its engaging writing and compelling stories.