How I Turned $5,000 Into $2.6 Billion
3,092,726
Published 2022-12-21
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
All Comments (21)
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👉 If you need help starting your own business I just relaunched my course Monthly1K. It’s $10 for a limited time (normally $600). Sign up at okdork.com/monthly1kyt
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"You know what success is, success is when your children want to be with you when they are adults" - GOLD
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I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time . I was able to build a business from my returns
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This guy is a perfect combo of no BS, compassion, generosity and candidness. He's so honest I love it. Life is such a mixed bag no matter our choices, and he wears it all very well.
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Gold. There's something about listening to older entrepreneurs that you can't get from ones your age.
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Absolutely the most sincere, truthful interview of a billion dollar founder I’ve ever seen, and I’ve seen many
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“Coolest thing I’ve ever been called in my entire life - Dad.” Truest thing. I lost my only son at 21 two weeks ago. He loved life, loved coming home. Having him in my life was my life’s greatest gift
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If a good amount of folks do what you say, just imagine how many millionaires we already have or will have in the future. I have been looking at similar opportunities. As Noah noted, he has witnessed this occur frequently. Never did my Husband and I make more money than others in the middle class. With a $250k stock portfolio, we intend to retire at age 58. Never have we ever sold even one share of stock...
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This is the most legit interview i have ever seen of a business owner. I love how no BS straight up he is.
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“This is how to create cash flow”
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“Things ran beautifully without me, but whatever I did made it better”. As a business owner myself, that is the best quote I’ve heard in decades.
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A guy who actually has 'nothing to sell you' and just dropping real life wisdom
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I worked for Paul and he is such a kind guy. He is so smart it is scary. He knows people and how to treat them, we all wanted to work for him.
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Warren Buffett has mastered what patience looks like. He has stuck to the markets, having a long term view on the markets. This is what I'm struggling to do, trying to learn how to not react to market news about inflation and all. I have currently set aside about $253k to put in the market now that prices are down. Any ideas?
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One of the best interviews I've watched. Candid, factual and no BS.
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My father never talked to me more than 5minutes. For years on years, I needed this. I didnt know I needed this. You changed my life. Thank you so much!
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I like the way he speaks bluntly, he doesn't hide the fact that he has done some mistakes both personally and in business, the struggles of business and the anxiety coming into success, and at times, the small wins that are then overshadowed by things going wrong...the depression and sadness that you have to nurture yourself...we should hear more from him.
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Incredible! The most honest, candid, down to earth and humorous interview of a wealthy super-great guy ever! So refreshing! Thanks a ton - both of you.
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"I teach people how to ask questions... Life's about questions, not the answers." That's great.
