Sold 5 Companies Before Age of 30, Now Side Stream Income is $500k/Year

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In Episode #218, Nathan speaks with lifelong entrepreneur, Lane Cambell. Listen as Lane shares his insight on the importance of partnerships for rapid growth, the challenges of finding quality technical talent, and his plans for the future.

Famous 5

  • Favorite Book? – The Hard Thing About Hard Things
  • What CEO do you follow?— Mark Zuckerberg
  • What is your favorite online tool?— Slack
  • Do you get 8 hours of sleep?— No
  • If you could let your 20 year old self know one thing, what would it be?—Leave college early.

Time Stamped Show Notes:

  • 01:06 – Nathan’s introduction
  • 01:28 – Welcoming Lane to the show
  • 01:33 – The 5 companies Lane sold before he was 30
  • 02:20 – Lifetime value of exits was south of $10M
  • 02:45 – Lane’s current projects
  • 03:51 – His #1 focus right now is TBD
  • 04:44 – Lane’s #1 income stream is ly
  • 05:39 — $20-$40K is Lane’s consulting fee
  • 07:25 – Use partnerships and incentives to grow rapidly
  • 08:18 – Even if you’re a name brand you can still decline in revenue year of year
  • 09:05 – did roughly $500K in 2015
  • 09:52 – The challenge of attracting top technical talent
  • 11:26 – The cost of hiring an $80K salaried employee in the U.S. is $26K
  • 13:43 –

3 Key Points:

  1. Take advantage of partnerships and incentivize your offerings to grow quickly.
  2. Just because you’re a household name/brand doesn’t mean you’re infallible.
  3. Top technical talent is hard to find and harder to lock up—if you find it put a vice on it.

Resources Mentioned:

  • Host Gator – Powerful web hosting made easy and affordable.
  • Ly – Lane’s current income generator
  • Show Notes provided by Mallard Creatives

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