MicroVee: Day 1 at VaynerMedia | Leap Academy [BONUS]

0:00So take me there. So you're basically asking Mike and Cass for their office, which is very bold and very, very scary. And very honestly, because I want to tell the story in truth, Mike and I met because an employee of his was fascinated by my content. And we hit it off at our meeting. He offered. Wow. Because he's such a mensch. And that's pretty incredible because they're not in a big spot by then. You know, they have a small office. And at that point, they're giving you their, you know, the size of this for context. Okay, so that's your office when you get started. Now you decide, if I'm not mistaken, not to raise capital.

0:45Correct. Right. So take me there because at that point, and we're in Leap Academy decided not to raise capital. But at that point, it becomes there's some money fears right like whatever you bring in that is the salary so take me to those moments like did you have moments of oh my god i don't have salary this month or like take me there a little bit to the beginning i believe that most companies and most people are unhappy and lose because they don't think in terms of saving money tell me more i will the reason we worked was every time we got money including that first thirty thousand dollars we spent only fifteen thousand of it like i wasn't hiring ahead of our capacity i didn't care how long it would take me to build this company i wasn't in a rush so how did it go i think that first year we did well i mean we did like three or four hundred thousand dollars and that was enough to cover my 180 ,000 in overhead and whatever T &E, travel and expenses and like, you know, computers or like just like stuff.

1:55But like we did not pay rent for the first 18 months of the company. We stayed there for six months and then there was a co-working space down in Debrosa Street by the Holland Tunnel called Sunshine Suites. They had this weird little non-office office and they wanted marketing and we bartered us marketing the space for room in this fake office. And so by keeping my expenses down, the reason I never feared it is pretty quickly we had months worth of runway plus I still had some savings personally and I was willing to dip into it. Got it. But talk to me in the beginning. there's still some and again it's interesting because I'm sure you see it like as you grow the problems just change it's not less problems the problems are more expensive yeah little children little problems big children big problems like no the problems are bigger right and more scary because there's a lot more to lose also yeah I think for some people I would tell you that I believe the definition of a purebred entrepreneur is having a much better relationship with that fear than most humans.

3:12Yeah. I'm really okay with losing it all. Oof, that scares me right now. Look, I prefer it not to happen. I don't want it to happen. I don't do behaviors that would make it happen. Right. But if it happened, it would feel as though it was because I deserved it. And you can build something great again. Yeah. I think that's what you're saying. But not even that. Yes, I am saying that. but let me say something more important. I do not believe you're allowed to love entrepreneurship for just the good stuff. If you really love this game, you have to be in a position where you're willing to lose and if you lose, you must take 100 % of the blame.

3:57If I was to lose everything or get really hurt financially, that would be my fault. And I'm willing to die on that sword. I'm willing to have the humility and the shame and the pain because I chose this course.