Transcript

Kim Perell: The $10,000 Idea That Became a $100 Million Empire

From Young and Profiting · Episode page · Watch on YouTube

· 55 min · 11,141 words · 101 timestamped sections

This is the full, timestamped transcript of "Kim Perell: The $10,000 Idea That Became a $100 Million Empire", an episode of Young and Profiting published November 10, 2025 (55 min, about 11,141 words). It mentions 44 people, works and ideas, including relationship, action, Execution, vision, Mistakes That Made Me a Millionaire.

Who speaks in this episode?

What is discussed, and when

  1. – 5:00: Execution, vision, X Drive, Kim Farrell
  2. – 10:00: AI consulting business, Costco, Instagram, Internet advertising
  3. – 15:00: action, Execution, relationship, resilience
  4. – 20:00: Revolve, J Shetty, Spectrum Business, Yap Media
  5. – 25:00: 70% rule, action, Marine Corps General, Mistakes That Made Me a Millionaire
  6. – 30:00: relationship
  7. – 35:00: Shopify, action, Be the buffalo, Mattel
  8. – 40:00: relationship, Tel Aviv, I CARE framework, Shopify
  9. – 45:00: Abby Ziv, New York, New York
  10. – 50:00: Luke Skywalker, Obi-Wan Kenobi, Pow wow bow, relationship
  11. – 55:00: relationship, 70% rule, action, analysis paralysis

Notable quotes from "Kim Perell: The $10,000 Idea That Became a $100 Million Empire"

  • What are some of the things that entrepreneurs get wrong about execution?
    about Execution · at
  • Yap fam, if you're an entrepreneur, you won't want to miss this one. Kim, welcome to Young and Profiting Podcast.
    about Young and Profiting Podcast · at
  • Actually got a loan from your grandmother. So, talk to us about what your vision was and how you got the confidence to start a business at such a young age and what this process was like for you.
    about vision · at
  • It grew when the internet started to rise because this was before Tik Tok and Instagram and LinkedIn this is before everything I mean it was basically Yahoo search engine what…
    about Instagram · at
  • Second is passion. And that's the, listen, passion is not what you love. It's like the Latin root word for pain or suffering. So, what are you willing to suffer for in order to.
    about passion · at
  • Step and making that you know taking that first action. It's about having those relationships, whether that's your clients, your team, your peers, and making sure you have…
    about relationship · at
  • Going to feel ready. And early on, I learned this rule by Marine Corps general and it was called the 70% rule.
    about 70% rule · at
  • Finding the right platform with all the tools I need to succeed. That's why I trust Shopify because they get it. They started small, too. Shopify powers millions of businesses around the world.
    about Shopify · at

Who and what is mentioned in this episode?

People

  • Kim Farrell — Person · 1 mention · first at
    To me became the best thing that ever happened to me. Today, we're joined by Kim Farrell. She's a powerhouse serial entrepreneur who turned a $10,000 loan in a kitchen table…
  • Kim Pel — Person · 1 mention · first at
    Young and profits. Get ready for an episode packed with entrepreneurial gold. Today we're joined by Kim Pel.
  • J Shetty — Person · 1 mention · first at
    You've got to be adaptable. I noticed that you also invest in a lot of like influencers. So, you've partnered with J Shetty. You've got like I think Willow, her name is the model. So, what is it about influencers that make you excited?
  • Marine Corps General — Person · 1 mention · first at
    Never, again, you're never going to feel ready. And early on, I learned this rule by Marine Corps general and it was called the 70% rule.
  • Abby Ziv — Person · 1 mention · first at
    Important. and something that's really fun to do and it's a consultant named Abby Ziv had came up with this and so we implemented that and it's such a great dinner time ritual…
  • Obi-Wan Kenobi — Person · 1 mention · first at
    Have mentors in each of my business. So if I have a beverage business I have a mentor I call him Obi-Wan Kenobi. I'm like Luke Skywalker over here and I literally you know he's…
  • Luke Skywalker — Person · 1 mention · first at
    If I have a beverage business I have a mentor I call him Obi-Wan Kenobi. I'm like Luke Skywalker over here and I literally you know he's 20 years ahead of me. He doesn't have…
  • Hala Taha — Person · 1 mention · first at
    It's Hala Taha. You can also find me on Instagram at Yapwithhalla. And of course, I've always got to shout out my production team at the end of the show.

Books & papers

  • Mistakes That Made Me a Millionaire — Book · 3 mentions · first at
    150 startups. And she's a three-time bestselling author. Today, she's here to talk about her latest book, Mistakes That Made Me a Millionaire, where she shares the tough…

Companies & orgs

  • Young and Profiting Podcast — Company · 2 mentions · first at
  • X Drive — Company · 2 mentions · first at
    Listeners because it's the first time that you've been on. So, I know that you started a company called X Drive when you were in your 20s. You actually got laid off from your…
  • Instagram — Company · 2 mentions · first at
  • Yap Media — Company · 2 mentions · first at
    Nope. It's rock solid internet. I get it because Yap Media runs fully remote. So, if the internet cuts out, everything stops. And I know every business owner listening in can relate to because staying connected with.
  • Costco — Company · 1 mention · first at
    Partner with all of the retailers to bring our product to market, whether it be Sprouts or Costco or Target, doesn't matter. But trying to figure out like who else can bring…
  • Sprouts — Company · 1 mention · first at
    Partner with all of the retailers to bring our product to market, whether it be Sprouts or Costco or Target, doesn't matter. But trying to figure out like who else can bring…
  • Target — Company · 1 mention · first at
    Partner with all of the retailers to bring our product to market, whether it be Sprouts or Costco or Target, doesn't matter. But trying to figure out like who else can bring…
  • AI consulting business — Company · 1 mention · first at
    Say. I talked to an entrepreneur the other day that's launching a consulting an AI consulting business. I was Okay, well, who can you partner with that can offer that to their…
  • Mattel — Company · 1 mention · first at
    From huge brands like Mattel and Gym Shark to brands just getting started, you can handle everything in one place.
  • Gymshark — Company · 1 mention
  • TikTok — Company · 1 mention
  • Yahoo — Company · 1 mention

Products & tech

  • Loba — Product · 1 mention

Concepts & topics

  • relationship — Concept · 11 mentions · first at
  • action — Concept · 7 mentions · first at
    To you know like what do you love more than anything else? And the third is action. So it's taking that first step because we can get so overwhelmed and not do anything. And I…
  • Execution — Concept · 6 mentions · first at
  • vision — Concept · 5 mentions · first at
  • passion — Concept · 3 mentions · first at
  • resilience — Concept · 3 mentions · first at
    Making sure you have great relationships and a solid foundation. And then it's about resilience because everything's going to go wrong all the time. And so, how do you make…
  • 70% rule — Concept · 3 mentions · first at
  • analysis paralysis — Concept · 2 mentions · first at
    And I mean I don't know about you Hollow but just analysis paralysis. You just keep overthinking things and never move forward. So learning to take that first step and making that you know taking that first action. It's about having.
  • Be the buffalo — Concept · 2 mentions · first at
    A really, really, really strict process these days. So, you've got this awesome metaphor in the book, and it's be the buffalo.
  • Internet advertising — Concept · 1 mention · first at
    Search engine what did the company do exactly internet advertising ing. It was basic buying and selling internet media. so I would contract with an advertising company and put their ads on the internet. It was really displacing.
  • Mentorship — Concept · 1 mention · first at
    Interesting if you look at any because I get approached all the time for mentorship and entrepreneurship and trying to look at any business that you can think of, they could…
  • I CARE framework — Concept · 1 mention · first at
    I know that related to that, you've got this I care framework. Can you tell us about that? Yeah, it's really about how when you're looking at businesses and relationships and how to build relationships on a very personal.
  • Pow wow bow — Concept · 1 mention · first at
    As you say this, I'm I want to do this with my team. I want to start every meeting with pow wow bow. because we do one word opens and what are you grateful for the start of our like daily meetings that I have.
  • General AI (Artificial General Intelligence) — Concept · 1 mention
  • Pivot — Concept · 1 mention

Places & events

  • Tel Aviv — Place · 2 mentions · first at
    I've you know I've had companies I talk about in the book that I've acquired in Tel Aviv and I've had companies in Tokyo and Australia and these are like across cultural…
  • New York, New York — Place · 1 mention · first at
    With my kids also. I like they know I mean they were there. We took them to New York for the book launch and they were there and they know that it's okay to make mistakes and…
  • Tokyo — Place · 1 mention

Sponsors

  • Shopify — Sponsor · 3 mentions · first at
  • Revolve — Sponsor · 2 mentions · first at
    That makes me feel confident and great about myself. And that's why I love Revolve. It's my go-to for every occasion. I'm wearing Revolve right now.
  • Spectrum Business — Sponsor · 1 mention · first at
    Anymore. And that's why I love telling you about brands that actually help you win. Like Spectrum Business. They don't just give you internet. They set you up with everything…
  • Merit — Sponsor · 1 mention

Full transcript with timestamps

I honestly never wanted to be an entrepreneur. So, both my parents are entrepreneurs and I thought, I'm going to get a real job and I'm just going to work the corporate ladder. And I was so excited. I'm like, this is it. This is like job security. It's going to be amazing. And then I was fired. Looking back, the worst thing that ever happened to me became the best thing that ever happened to me. Today, we're joined by Kim Farrell. She's a powerhouse serial entrepreneur who turned a $10,000 loan in a kitchen table idea into a $100 million empire. 93% of self-made millionaires have mentors. And even if you have a job, you're five times more likely to be promoted if you have a mentor. It's the easiest thing to do to increase the chances of your success.

And what's your advice to actually getting a mentor? I say three special words. So easy. Let's have Everyone can have a good idea. I get pitched ideas all the time. But taking that idea and making it a reality is so difficult.

What are some of the things that entrepreneurs get wrong about execution? I found that there's five key traits in order to master execution. And the first one is young and profits. Get ready for an episode packed with entrepreneurial gold. Today we're joined by Kim Pel. She's a powerhouse serial entrepreneur who turned a $10,000 loan from her grandmother and a kitchen table idea into a $100 million empire. Kim is a ninetime founder. She's now an angel investor that has invested in more than 150 startups. And she's a three-time bestselling author. Today, she's here to talk about her latest book, Mistakes That Made Me a Millionaire, where she shares the tough lessons every entrepreneur needs to know. In this episode, you'll hear how Kim bounced back after getting laid off in her 20s, and how she became a self-made millionaire by 30 years old. We'll also talk about turning failure into fuel,

the execution habits that separates doers from dreamers, and how you can embrace risk before you feel 100% ready. Yap fam, if you're an entrepreneur, you won't want to miss this one. Kim, welcome to Young and Profiting Podcast.

Thank you so much for having me. I'm so happy to be here. I know. I'm so excited. You know, I can't believe that you've never been on Young and Profiting podcast, even though I've known you, I think, for like three or four years now, and I'm just so excited that I finally have you on.

Ah, me too. Me, too. Thank you so much. I'm really excited to be here. So, before we dive into your new book and and everything that you got going on with entrepreneurship, I did want to get a little bit of background from my listeners because it's the first time that you've been on. So, I know that you started a company called X Drive when you were in your 20s. You actually got laid off from your dream job and you were broke, 23 years old, and you had this idea to start a company, and you actually got a loan from your grandmother. So, talk to us about what your vision was and how you got the confidence to start a business at such a young age and what this process was like for you.

Oh my gosh. Well, I honestly never wanted to be an entrepreneur. So, uh, both my parents are entrepreneurs and I thought, I'm going to get a real job, a job, and I'm just going to work the corporate ladder. And I went and I got that. That was at X drive. And we raised $100 million in funding. It was right at the dot. Um, boom. And I was so excited. I'm like, this is it. This is like job security. It's going to be amazing. And then I learned there is no such thing as job security. And the company spent the hund00 million. And then I was fired.

And I had no savings. I was broke. I honestly wasn't sure what I was going to do. But I did learn the lesson that,

you know, the best bet you can make is to bet on yourself. And I had this idea for an internet company that I wanted to create. And I just I didn't have any money, so I had to ask my 82year-old grandma for a loan cuz everyone else told me, "Kim, you're crazy. The internet's a fad. You have no experience starting a company, and you should just get a normal job." And I was like, I just had a normal job and that didn't work out, so I might as well bet on myself. And my grandma had no idea what the internet was at that time. And I told her, it's going to be really, really big someday, grandma. And she gave me the $10,000 loan, which is amazing. And that's how I started. And I think looking back, it it wasn't not that, you know, I didn't choose to do it, but sometimes things happen. It was like the worst thing that ever happened to me became the best thing that ever happened to me.

Yeah, that's amazing. So, you scaled that company from what I read to $100 million by the time you were 30. Was that $100 million in annual revenue?

Annual revenue. Yes. I started at my kitchen table. So, anyone out there that's got a kitchen table or garage or a basement, doesn't matter. You can start anywhere. And that was, you know, 20 years ago. So, I started at my kitchen table and I worked at there for 3 years alone. And it was very, you know, but I had this vision. I had this vision like so many people out there they wanted to create something and I think you know eventually after enough time and enough determination you know I maxed out all my credit cards and at some point you know you think this is it's not going to work and then you have a turning point and the company you know it grew when the internet started to rise because this was before Tik Tok and Instagram and LinkedIn this is before everything I mean it was basically Yahoo search engine

what did the company do exactly internet advertising ing. It was basic buying and selling internet media. Like, so I would contract with an advertising company and put their ads on the internet. It was really displacing traditional forms of media, but really early on. So, you're trying to convince someone that the yellow pages weren't going to work anymore and that it was much more efficient to do online advertising.

Yeah, that's so amazing. People know that now, but at that time, it it wasn't as easy to convince someone. Yeah, it was kind of groundbreaking technology that you were working on because people weren't familiar with it and you got in really early and became one of the biggest companies to do it. So, did you spoil your grandma for believing in you? Like, how did grandma make out of all of this?

I sold that company um in 2008. So, that was the first company I sold. So, yes, I went and knocked on her door and I was like, "Grandma, I got something I had to tell you." And she's like, "What what is going on?" on, you know, like why are you here? Is everything okay? And I was like, we just sold the company, you know, for at that point $20 million plus like another 20 on the back end. And she just couldn't believe it. I'm like, $10,000 goes to, you know, 20 million. She was just, she couldn't even believe it. So

that's amazing. I love that. Go grandma. Best angel investor there is right? I know. Everybody just, you know, knock on grandma's door if you've got that business idea. So for all the, you know, 30somes out there tuning in, I think it's quite an ambitious goal to get a company that's a hund00 million in revenue by the time you're 30 years old. Like I don't even know if that's really a possibility for most people out there. But if we were trying to get a company to scale to 100 million, whether we're 20 years old, 30 years old, 40 years old, what is your best insight in terms of how to actually do that?

Yeah, I think it's two things. So when I and I I invest so I've invested into probably 150 different companies now. Um co-founded nine like I definitely understand the entrepreneur and like what it takes to scale and I've scaled all the all the way to a billion dollars. So I I really know on an annualized basis what it takes to scale. I think you need you know number one is you need a great team.

Like you will not be successful alone. So really looking at who you can get to join your team to make sure and and to complement your weaknesses, right? And for me and that's in any business that I start that I scale really looking for that team that can that that can scale because you just like I tried on my kitchen table and then eventually I had to make room at the kitchen table for a CTO and a head of sales and the finance like you have to be able to have a really great team. I think the other thing, the second thing I think people need is really great partnerships. You can't scale to 100 million or a billion or even 10 million one by one by one. So I love a sales a sales channel strategy and that's just partnering with someone else who has already built in the sales infrastructure that you can put your product through or partner with. And so really trying to figure out where there's leverage with other companies

that are complimentary that can give you the opportunity to sell through their sales channel. And I think that's I mean especially when you're bootstrapping it, you can't afford to hire a huge sales team. It's so expensive.

Yeah. Could you give us some examples of companies that you've invested in and maybe how they've leveraged somebody else's sales channel so that we can kind of put that together?

Yeah. Well, I mean let's see like even just something I'm doing right now, right? I have a beauty company and right now like we sell through Sephora. So obviously if I wanted to sell DTOC that's one way but I could also partner with a retailer who has doors all over the country and then I can use their infrastructure to sell my product for me. Obviously I have to give them a cut but it makes more sense than me trying to do it myself. So that that's in a retail example of like how do you find a partner um to bring your product to market? If you're, you know, I'm a beverage company, we all, we also partner with all of the retailers to bring our product to market, whether it be Sprouts or Costco or Target, doesn't matter. But trying to figure out like who else can bring your product to market um in a you know, it's interesting if you look at any because I get approached all the time for mentorship and entrepreneurship and

trying to look at um any business that you can think of, they could find someone that's complimentary to them that could help offer their products and services. It's usually the first thing I say. I talked to an entrepreneur the other day that's launching a consulting um an AI consulting business. I was like, "Okay, well, who can you partner with that can offer that to their community and they, you know, and give them a cut?" Because you can't go one by one. Again, the sales team is so expensive to build. So, trying to find ways to help sell without you having to you know, you have to sell once, but it's one to one to many. Yeah, that makes a lot of sense because then you can actually focus on creating the best product rather than worrying about the tech to sell it, the team to sell it and so on. So you can just f focus on the actual product. Very cool. Uh so let's talk about your general entrepreneurship

advice. I know you've written a book on execution. So what is some what are some of the things that entrepreneurs get wrong about execution? I think execution. I look back at all of the companies that I have invested in and started and I honestly believe that execution separates the best from all the rest. And what that means is everyone can have a good idea. I get pitched ideas all the time, idea, idea. But taking that idea and making it a reality is so difficult. So really understanding how do I actually bring that to life? And I've found that there's five key traits in order to master execution. If you master these five traits, I guarantee your success like by tenfold. And the first one is vision. Really understanding, have a crystal clear vision of what you want to achieve. Because if you don't know where you're going, like how do you expect to get there? And so so many people are like, "Oh, I have kind of an

idea when I'm building. I know exactly where I'm going. I know exactly the revenue I'm trying to hit. I know exactly the KPIs, the key performance um indicators of what I want to achieve." So really having that very clear vision. Um, second is passion. And that's the, you know, listen, passion is not what you love. It's like the Latin root word for pain or suffering. So, what are you willing to suffer for in order to achieve your dreams, right? And that might be long nights, early mornings, taking the weekend, doing things you don't want to do because you love it so much. And I think it's a different mindset of what makes successful companies and successful entrepreneurs than other people. It's like what are you actually willing to give up in order to you know like what do you love more than anything else? And the third is action. So it's taking that first step because we can get so overwhelmed

and not do anything. And I think you know I've I've experienced this before and I mean I don't know about you Hollow but just analysis paralysis. You just keep overthinking things and never move forward. So learning to take that first step and making that you know taking that first action. It's about having those relationships, whether that's your clients, your team, your peers, and making sure you have great relationships and a solid foundation. And then it's about resilience because everything's going to go wrong all the time. And so, how do you make sure that you have enough tenac tenacity and grit to keep moving forward after you hit setbacks and roadblocks and dead ends? Because it's going to happen. It's inevitable.

And if you can master these five traits, you will be able to achieve success. I love that. And I think the fifth one is relationships, right?

Yes. Oh my gosh. And relationships for sure. I mean, you cannot do every anything alone. You know, I tried and I remember really early on in my career, I was at my kitchen table and obviously my nanny had, you know, my grandma had funded me, but and I had this lone wolf mentality, which meant I'm going to do it on my own because I'm going to prove to everyone that I can do this. And I'm sure people can relate to that. I'm just going to prove to everyone that telling me I can't do it that I can do it. But the reality is you're not going to get very far very fast. And so until, you know, I came to that realization because I was overworked and I was sick and I didn't know what I was going to, you know, at some point you're going to hit a breaking point of burnout where you have to ask for help. And at that point, hiring the team and getting the mentor and finding the peers was like a gamecher in my business. So those

relationships are foundational. Execution is just so important to your point. It it's what makes or breaks entrepreneurs. People who just like can't take consistent action and don't have like the resilience to just keep going when things are tough. I feel like that's what really makes or break it breaks it because entrepreneurship is a long game. It's not going to happen overnight. It's going to take a couple years, two, three years until things really get off the ground for for most startups. So, I totally agree there.

100%. Right. Oh my gosh. And I hear so many ideas, but the thing is I'll hear idea and then they'll pitch me and then a year later I still they pitch me the same idea. I'm like, well, what have you done? Have you gone to get to market? Have you gone to Listen, I'm not saying like dream big, start small. Go to the farmers market.

Tell me you've done something. But usually people just get stuck in the idea because it's easy. I get it. It's more fun to, you know, like that's the fun part to create to ideulate, but to actually do it is hard. Yap gang. What's one thing that every successful modern business needs? Is it a good offer? Is it a good sales? A good CEO and founder? Nope. It's rock solid internet. You know, I get it because Yap Media runs fully remote. So, if the internet cuts out, everything stops. And I know every business owner listening in can relate to because staying connected with clients and employees isn't optional anymore. It's the lifeline of any modern business. We can't live without internet anymore. And that's why I love telling you about brands that actually help you win. Like Spectrum Business. They don't just give you internet. They set you up with everything your business needs from internet, advanced Wi-Fi, phone, TV,

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And by the way, they ship fast. Sometimes I do overnight delivery when I need an outfit in a pinch. That's revolve.com/profiting to get my favorites and get 15% off your first order with code profiting. Offer ends November 9th. So, happy shopping. So you said that you've you've actually invested in 150 companies now and you've probably gotten pitched like thousands of ideas over the years. Yes. So what do you actually look for? Like are there key things that you look for when you decide like I'm going to invest in this company or not?

Yeah. Yeah. I mean number one I'm a startup investor so I like to invest early and so I always invest in the founder. Like I'm investing in people right just like my grandma made a bet on me. I want to make a bet on individuals that I think can execute and they're going to have to and I know whatever they pitch me today likely is going to change. Like I don't there's probably one out of 150 companies that has pitched me the exact same thing that they actually built. So it's and that's okay. I just want to know that you're going to be able to adapt when when the market changes. So the ability to adapt especially in let's just say today with AI and everything's changing. The only thing we know is change is the only constant. And the only thing I need to know as an investor is that when it changes, you will change too. The challenge is a lot of people are like, "No, I'm so I I will not change." And

that is a huge mistake because the world's going to pass you by. Yeah. You've got to be adaptable. I noticed that you also invest in a lot of like influencers. So, you've partnered with J Shetty. You've got like uh I think Willow, her name is the model. So, um, what is it about influencers that make you excited?

Oh, I love they're a huge microphone and I think they've got their own media channel, which has been really amazing. So, and I also think I mean I really look for investing in um obviously I love investing in women founders, underrepresented founders um and people that are authentic. Like it's really important especially in like a celebrity type um partnership making sure the authenticity of the founder is truly why they wanted to create it. So in my partnership with Jay um we created a tea. It makes sense. I mean he doesn't drink. He he grew up drinking tea. He associate tea with like love. Okay. Well that's awesome. You know can we disrupt because I always look for opportunities where I can disrupt. Can we disrupt the tea market? Right. And so, yeah, like the tea market hasn't been disrupted in hundreds of years. Why don't we make a cool, fun, you know, functional tea that can be that that's not your grandma's

tea, right? And that's what we created. And I think it's really authentic to him, which is really important because authenticity authenticity matters. Hm. Um, I I read that you started doing AI product launches and so I'm curious to understand like what does that even mean and and what's the difference between an AI product launch and a regular product launch? Well, it's a predictive intelligence. So, we're using data to decide um like in the case of a tea or the case of a beauty product, we can see what's trending. we can use data to make informed decisions um on what will be a success in market and that's what we're using it's really intelligence platform

so using data and intelligence and analytics to make decisions and I think it's really

I think making sure you're making datadriven decisions is so I mean I come from a tech background so it makes sense for me to want to you know prove it with data and making you know data driven data driven decisions is so much easier for me as an as a investor to invest in because you're showing me the data. For me, I love a good idea, but again, substantiate it with the actual data and then I'm much like, you know, much more likely to invest.

Yeah, that makes total sense. So, you've got a new book and it's called Mistakes That Made Me a Millionaire and there's 10 mistakes that you highlight. Is there a mistake that you want to cover with us in terms of of what we need to know as entrepreneurs tuning in? Well, I think the biggest mistake, you know, if you don't if you make this mistake, you you won't even get to the other nine. So, the mistake goes through 10 mistakes. And the biggest mistake that I think people make is waiting to feel 100% ready. And I think you'll never, you know, again, you're never going to feel ready. And early on, I learned this rule by Marine Corps general and it was called the 70% rule.

So in you know in battle people don't you know you had to make decisions without com without 100% of the information and so they use the 70% rule and I was like hey if you guys are using that I I can use that too which gave me a great opportunity to be able to balance analysis and action. And so if I get to 70%, I go right. And I think using that in my website, my product, my marketing, my social media, whatever it was, at 70%, anything over that you're just perfecting it, and you don't actually know if it's going to work till you get to re till you get to market anyway. So the sooner you can get to see and meet the customer, the better you'll be. And so it gave me a great um framework that allowed me to take action in uncertain with uncertain information.

It's funny that you mentioned that 70% rule. I actually had like a revamp of our team's core values. And my company is about to hit uh 10 million in annual revenue this year. And I've noticed that like I needed to do something different in terms of our culture because we were really scrappy in the beginning and kind of like, you know, flying by the seat of our pants, building the ship while we ride it. And now I really needed to to like make it clear that we needed to like make better decisions and and do things more perfectly and be um scrappy doesn't mean sloppy and things like that to kind of just like button the team up.

And one of the things that I put out was this 70% decision-making framework. Basically, like in order to keep the team still moving even though I'm putting all this like quality criteria on everything, if you think you're 70% right, just go for it. Like we can still make some mistakes. If you feel like you know 70% for sure you should do this, then just move forward. But if you're not sure, that's when you got to check in with your manager and and so on and get to that 70%. So uh it's really really good guidance even for teams uh in terms of their decision- making

right I love that you implement it because it still gives autonomy to people to move as opposed to just waiting for someone to come tell you you're again it's never going to be 100% right and as a startup and just I mean to be honest in any company no matter size you have to have the courage to move and make mistakes like if you're not making mistakes you're not trying hard enough

as I build my company uh Something that seems to be one of the hardest things to do is just to get the right talent, right? It's kind of like you you go through the interview process and sometimes you feel like somebody's going to be so great and then they're terrible. And the opposite can happen. Somebody has like a mediocre interview, but then they end up being like a great great hire. So, are there any like interview questions that you like to ask or frameworks that you have for for new hires to make sure that we're not wasting time in terms of this hiring and we're hiring the best people possible for our teams?

Yes. I mean, honestly, I've hired thousands of people probably in my career. Um, I had I I managed um over a thousand people in my last company. So, I I definitely have hired a lot of people. And I write in the book about picking the wrong people. to exactly your point. I picked a lot of bad people. Like a lot, right? So trying to make sure I don't. Number one, the reason I picked it because you know the people that look perfect on paper, I call them the pop perfect on. They look so good, right? Their resume looks great. They came from the right jobs, they have everything, and then you get them in and they're terrible. Like what what happened? So I've come up with um and I talk about in the book I come up with different frameworks of how to make a better hiring decision. So I don't get biased towards either the resume that looks good but doesn't you know I'm really number one I'm and I think we

overlook this so many times because you think the per the paper looks good. I in the p like I've neglected to really do thorough reference checks. Now I do that as you know like religiously and I think that was you know because usually I'd have someone that said oh my boss left you can't really do a reference check anymore red flag obviously but I was like oh it's okay now no give me I actually want a reference of someone that's worked for you and someone you've worked with because relationships are key right so if you don't have someone that actually liked working with you probably not good for me to hire you and the second in terms of interview questions I have a I actually list out 10 in the book, but one of them is um what would I learn about you in 3 months from now that I will not learn about you in this interview process? So really it's like something that I couldn't learn there.

And then the second one I like is um what would your last manager say they wanted to change about you? It takes people a second like what would change and then what would your teammates want to change about you? Like then you're really trying to get to things they didn't like about them because that's the same thing you're not going to like about them. So really trying to it it like they're thoughtful questions that you really have to start asking to try to you know doubleclick on understanding if they're going to be the right person for you. So, I I've done it so many times terribly and it's, you know, I'm still trying, but I I definitely have come up with a process that I talk about because hiring the wrong person cost you millions of dollars. I mean, in time and productivity and rehiring, there's so many challenges as you know, but if you get the right people, game changer, right?

I know. It's like the it's like basically sometimes two or three employees and one person in terms of their their output if you get a really great talent in the door. Are there any like red flags where if somebody does this in the interview process like that's it, no more interviews?

Oh my gosh. You know, I definitely could tell you for investing. So, if I put my investor hat on hiring investing, if you come in and you say in year five, it's a hockey stick and we're going to make, you know, a ton of ibida and wild growth. I I know you have no idea what you're talking about. I don't know why people do that all the time. They want to show like, oh, eventually you're going to

like it's like this perfect plan that's just going to happen. Yeah. We're going to be hugely profitable and tons of growth within your five, but you're investing in one. It's like I want to see what is the actual plan. So, when someone shows me their pitch deck and that's the hockey stick, I I actually like pass. Um, so that's in in hiring, I would say. What about like personality? Like is like is there something about somebody's personality that you look for?

Ego. If you have a huge ego, I definitely do not hire you. Like I want a team player. I don't need you know you could I need an all-star team. I don't need an all-star player. So I want someone and I think it reflects the values what you were saying Holland. Every one of my companies I have very clear values. And if your behaviors even in an interview process don't match my values or my company's values, I won't hire you. And like for example, if my value is collab collaborative and you're just like your own, you want to play by yourself, that is not going to work in my organization. And so I think really being clear from a company perspective on your values and then ensuring every hire reflects those behaviors of your values.

And you're doing the same thing, which is great, right? I think every company has to have those values and I think it's really important. So, we've implemented a new hiring process because we're we're trying to just get like the best talent in the door possible. And one of the things that we've done, which is like a sneaky way to try to see if we got the right hire, is we give these really detailed directions for a cover letter, where it's like just very specific in terms of like how you have to actually write and submit your cover letter. And if they can't follow those directions, they don't even get an interview. So, it's like a way for us to just like check to see if people are detail oriented, if they can follow directions, and if they can't even do that or they're too lazy or we're like, you either don't want this bad enough or you don't know how to follow directions, right?

Yeah, that's a great idea. Usually now, to your point, I make people do a project, some project, so I can really evaluate the work before I get you in the door because it's really hard because then you have to once you're in the door, I have to, you know, train you. Then if it doesn't work, I have to try to help you. Then, you know, there's so much chaos. So if you can try to find upfront to your point like the cover letter that's great if they can't follow the details probably not the person you want and so really understanding how to make sure and also I mean it's interesting just thinking about it because you get so many resumes we make it so you actually have to email in if you actually want the job like if you click on the button like I'm not even interviewing in literally

no so many people right like who's going to go the extra mile and actually yeah so we do the cover letter we a cultural interview, a project, and a technical interview, and then the final interview. So, like we've got like a really, really, really strict process these days. So, you've got this awesome metaphor in the book, and it's be the buffalo.

Tell us about that. Oh my gosh. Yes. Well, when there's a storm coming, right, usually everyone's running away from the storm, right? And I think that is true, you know, in nature. people running away from the storm, but the buffalo runs through the storm and it actually is gets, you know, gets through the storm faster because it's not running at the same, you know, with it. And I think the metaphor for people is to take action that probably you're scared to take. You know, it might look bad or hard or it might scare you, but that's actually where the opportunity and the success and the the growth really happens. So, encouraging you to be that buffalo like let you know, let's go go into the storm as opposed to running from it. But I love that actually and it's a really good way to think about life. Like, am I the buffalo or not?

Yeah. And especially with like new things like AI coming out, a lot of people can kind of like shy away. But really, it's all about like leaning into these new changes and being adaptable like you were saying before rather than being like a cow and like running away from from the storm.

The water you're just going to keep getting wet, right? So it's like but you have to take that initiative and I think it's really important because to your point like on AI everything is going to change. The only thing, especially if you're looking at, you know, people in with inside companies, you know, the only thing I know is that I have to adapt and my ability to adapt is going to be what makes me successful. What's up, Yap fam? I think we can all agree when your skin looks good, you feel great. But sometimes it feels like beauty brands want us to own every single product out there. And honestly, more isn't always better, especially for busy entrepreneurs like us. And that's why I love the brand Merit. It's a minimalist beauty brand that makes elevated makeup and skincare designed to help you look put together in just minutes and you don't need a lot of products to do so. Lately, I've been

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Okay. All right. First prompt. Follow your passion and the money will follow. I think you have to be passionate, but that doesn't mean you're going to make money. So, I would say it's good if you're passionate about it, but that doesn't mean it could still be a hobby. The only way it makes money is actually making money.

You've got to have the demand. People need to, you know, it's got to solve a problem that people actually want to pay for. Okay. The customer is always right.

Yes. I actually think the customer is always right. Yes. I mean, again, we're in selling. We're selling. So, you know, listen, they might not be your customer, but they are always right.

If it ain't broke in my business, I don't fix it. I'm usually, you know, it depends. If you're firefighting, I would say, let's focus on actually what what needs the most improvement. But there's always opportunities to improve. Like, I'm constantly trying to level up every area of my business, every area of my product, packaging. So constant improvement before you need to is really important.

Mhm. Yeah. Or else you could get disrupted because you're just, you know, sitting on your laurels. Okay. Fake it till you make it.

Oh, love that. Yes. Fake it till you make it. 100%. Why? I mean, I I did that my whole life. I mean, I was 23. I had no idea what I was doing, but you know, I showed up with tenacity and like confidence. And I think, you know, listen, your confidence in yourself has to be greater than anyone else's doubt in you. And if you don't believe in yourself, who else is going to? So, fake it till you make it.

Timing is everything. Wait till the perfect moment. I think timing matters a lot, but I also would not wait. So, you know, timing does matter in terms of like the grand outcome and success, but I think you should not wait to the perfect moment. You should wait till you're 70% and then go.

Okay, last one. Business is not personal. Oh, chapter 10. Chapter 10. Business is always personal. That is the number 10. Biggest mistake. Business is personal. And I think after, you know, 20 years in business and having a lot of companies, it's always personal. And if anyone tells you otherwise, it's a lie.

I know that related to that, you've got this I care framework. Can you tell us about that? Yeah, it's really about how when you're looking at businesses and relationships and how to build relationships on a very um personal level because based on my experience and I've you know I've had companies I talk about in the book that I've acquired in Tel Aviv and I've had companies in Tokyo and Australia and these are like across cultural there's cultural differences there's you know there's a lot of change across all these companies And at the end of the day, we're all people. And I think that's the biggest thing that I learned. And so the ability to really I care, which is invest in those relationships, right? And I talk about a story when I acquired a company in Tel Aviv. And it took me literally flying to Tel Aviv and meeting with these um individuals, great leaders in person and developing that personal connection that

changed everything. And I think going that extra mile, investing in the relationships that really matter will pay off dividends in the long run because it takes time to build trust. And so you're always looking for in business, how do I speed up that time? How do I make it so we can develop that foundation of trust faster? So when I leave and I go back to California and you're still here, you trust I will look out in your best interest. And so in the book I talk about this framework the IARE framework that you know that starts with investing investing time and then really understanding how can I deepen these relationships because most of it's interesting like when I look back most of my companies and the people I invested like I'm investing in people that work for me. I mean it's amazing right? So people that work me over time like if you leave and you work for me you should go get and start your own

company and I will be the first one to fund it. Like I love the entrepreneur. Like I'm here to help, you know, other people rise and but it's about relationships. It's about trust. It's about knowing that, you know, you trust me, I trust you. And like we will be a great team. I I cannot underemphasize that. I'm sure Holly, you've seen that as well. Like those relationships are key to success. And in every deal that I've ever I've ever done, I've done a lot.

So, uh, back to all these, you know, companies that you invest in. you do so many different like industries, right? So, I think that's just so awesome because I feel like a lot of investors, they might like focus on like one specific industry, but you really like do a lot of different products and things like that. So, are there similarities in terms of when you when you first invest in terms of like what is like kind of wrong with like everyone's business or like the mistake that like everybody kind of makes? Can can you go over some of those things that you see across industry?

I think you know I talk about in the book failing to pivot is one thing that everyone makes. failing to pivot. If you look at YouTube started as a dating site, uh Twitter started as a podcast pa platform. Shopify started by selling snowboards online. You know, Netflix, DVD by mail. Every company I look for, if your growth is slowing or you're not successful, you need to pivot. And that's so important and embracing that pivot. And so when I look at companies, I look at and again it goes back to the founder. Are you okay with making that change? Are you okay with adapting and adopting new technology? Um, and that's really important. You can have you can adopt technology in any business. It doesn't matter if you're in consumer packaged goods. It doesn't matter if you're in beauty. It doesn't matter what type of industry you're in. How are how are you using AI right now? Like if I came in and you told me

you're not well obviously would not I would not invest in you because we're trying to leverage it to make us smarter and more efficient, right? And the more efficient we are, the more time we have to create and use our true talent. So really looking at because I invest across so many categories which is so fun but the end of the day business is business and that's why I wrote the book because it's all I mean listen business is all based on people at the end of the day. Like people are still running the show. They're still making the decisions on deals. They're still making decisions on investment, on hiring. It's still a people business, which is why business is still personal, right?

Mhm. Yeah. Totally. So, uh, when it comes to these businesses that you're investing in, I, uh, my boyfriend is also an entrepreneur and we're very different. We're like, I bootstrap my company. I've been profitable since year one. I've been profitable since month one, right? Like I've never not been profitable. He has investors and like his goal is not to be profitable. His goal is to grow and how do you think of profit uh when you invest in companies like do you care if the company is profitable or is it more just about like you know 3xing your growth every year or whatever it is. I think it depends. So I've had both right and I raise a lot of money actually too. So I'm on like every side right? I invest I raise capital I've started and kind of like U-Haul which I love. I started, you know, with a $10,000 loan and I focused on profitability. Me as an investor, listen, on most of the digital companies

I have, the technology companies, they're not profitable. Like, they're not profitable at all. And I think that's probably, you know, when you look at, and that's okay cuz I'm an investor and I know there is a path to profitability. So, as long as you can show me your path to profitability regardless of industry, regardless of company, I'm okay with that. And I think it's also a choice because with fundraising also comes dilution where you're giving up equity, right? So as the owner, you have to decide how much equity am I willing to give up in order to grow.

There's so many different choices you have to make. But as long as there is a path to profitability, I'm good with that. If there's no path to profitability ever, I'm definitely out. If you say profit, I love it. You showed up and you're like, "Hey, I have a profitable business." Like, great. I'd love to see it because not a lot of them to be honest.

Yeah, it's so true. As we uh close out this interview, I want to talk to you about family because you are one of the most successful business women that I know and you also have a a big family. I've got four kids and I remember hearing a story u we used to do your social media back in the day and I know that like one of the questions your dad used to ask you at the dinner table was like what's the worst thing that happened to you today and it kind of got you used to like talking about failure and things like that. What are some of the things that you do with your kids now to prepare them for the real world world to prepare them for entrepreneurship if you want them to take that path and so on?

Yeah. Oh my gosh. Yeah. My dad. Can you imagine? And so yeah, growing up obviously my parents were entrepreneur. Honestly, now I think he asked us at the dinner table. We never talked about school or sports. We only talked about failure and you know the worst thing that had happened to us each day and now I think it was like his own therapy and we were just having therapy at dinner I guess. My kids now we've come up with a new practice. So I have four kids um two six and two and 11 now. And we say we use this which is called pow wow um bow pow which is the worst thing that happened to me today. So they tell us okay this is the worst thing um wow which is the best thing that happened to me. So mom this is the best thing that happened and bow one thing that um you're grateful for. And so we're trying you know so it gives a balance to my dad's which is only the worst thing. It balances it out for my kids which is

really nice and I think really important. Um, and something that's really fun to do and it's um, a consultant named Abby Ziv had came up with this and so we implemented that and it's such a great dinner time ritual with my kids also. I like they know I mean they were there. We took them to New York for the book launch and they were there and they know that it's okay to make mistakes and that's why to be honest I wanted to write the book. I want them not to strive for perfection, but to strive for growth and learning and and knowing that you don't have to be perfect, right? I know that. And I think it's hard today's world in a picture perfect world, right? We want them to be okay with that messy middle, the challenges and the struggles and being okay to talk about them because we and I mean, me too, and that's why I wrote a book. It's like usually we're like we're just going to tell you when I

make $235 million on my sale of my company. I don't tell you the struggle that happened in order me for me to get there, right? You're usually just talk about the end. You're like, "Oh, you killed it." I'm like, "No, you don't understand. It was hard, right? Like it was struggling." So, I really try to, you know, make it okay to talk about mistakes and to have those conversations with my kids so that when they do make mistake, they they they know it's okay and I love them regardless of what happens.

It's funny. I I don't have kids yet, but as you say this, I'm like, I want to do this with my team. I want to start every meeting with pow wow bow. Uh because we do like, you know, one word opens and what are you grateful for for the start of our like daily meetings that I have. Uh, but I like this framework too because it lets them say like what actually went bad so that we can acknowledge it, talk about it. Um, and not just like what only is good. So I think that's also a really great team activity honestly.

Yeah, I like that. I like Yeah. And you want to know actually on my team meetings we do month I mean weekly too. We talk about the like the biggest roadblock. What's the biggest challenge? So to your point I want to know because my job as a leader is to help you solve for that. And if I don't tell me what's your challenge, I can't help you solve for it. And usually we only talk about the highlight, but as the leader actually it's nice and you can share the highlights, but I actually want to know the low lightss like what actually are you

facing challenges because my best skill will be in helping you overcome them. Yeah, I love that. I'm going to start doing it. Uh so Kim, I end my show with two questions that I ask all my guests. The first question is, what is one actionable thing our young and profiters can do today to become more profitable tomorrow? H I I know this one. This one is 93% of self-made millionaires have mentors. And even if you have a job, you're five times more likely to be promoted if you have a mentor. It's the easiest thing to do to increase the chances of your success. So get a mentor,

hands down. And what's your advice to actually getting a mentor? Like how can somebody get in touch with somebody who they think they should be like their mentee? And how do you actually pick like the right mentor? for again it's having clarity of what you're trying to achieve. So in each of my business I have mentors in each of my business. So if I have a beverage business I have a mentor I call him Obi-Wan Kenobi. I'm like Luke Skywalker over here and I literally you know he's 20 years ahead of me. He doesn't have to be. He could have been two years ahead of me but he has experience in the vertical that I want to learn about. And so the easiest way to get a mentor so first know who you want to mentor you and why. Because if you call me and you say, "Kim, I want you to be my mentor." I said, "Why?" And you can't tell me exactly why you think I can help you. I'm not going to obviously take the the meeting or be

your mentor. The second is how do you get the mentor? I say three special words. So easy. Let's have coffee. Because it's so easy to ask me and I do this all the time with everyone. So if you're listening, I we have like three meetings every week at least. Me asking people, do you want to go to coffee? So easy. And you can do this with mentors, 15 minutes. They could reach out. Can I have a 15-inute coffee, virtual coffee? And then show up prepared. When you show up for my 15 minutes, I want you to know what are the questions that you want me to answer for you because I'm trying to judge if I actually want to have another coffee, right? Like this is a conversation that goes two ways.

So if you show up prepared, you show up with your questions, and I actually feel as a mentor that I can add value to you, I'm stoked. I'm like, I'm happy to have another coffee. Like, that's how you start building that relationship. But you have to invest the time and the person has to want to invest back. I also think if they don't answer, don't take it personally because sometimes it's just assume it's not you. Like people are busy and so making sure that you know that it's not you and that just keep going like you're going to get rejected. Find a mentor that has the time and the space to give you what you need.

Yeah. I also think it's important to be realistic, right? Like if you're just starting, like Gary Vee is not going to be your mentor. Like, you know what I mean? Like you need to be realistic in terms of like where you are. Um, and then as you level up in your career, you might need to actually level up your mentors over time.

I've had so many. I mean, it's amazing and I feel so blessed. But that was the game changer for me because then I have someone that I can call that has experience. And to your point, it doesn't need to be someone with 20 years experience. one year experience more than you have will get you far, right? You don't need someone with so much experience that they're actually too far away from where you are today. Actually, you could have too much experience.

Yeah, that's a really good point. Okay, Kim, last question. What is your secret to profiting in life? And this can go beyond just like business and financials. Like, what is your secret to having a really successful life?

I think consistency. I just the day-to-day consistency of, you know, of relationships, of, you know, prioritization of my family, of loving what I do, of making sure I'm not doing things I don't want to do. So, it's I'm quite consistent and I think that others would say that and I think that it leads to a lot of joy and happiness. You know, I'm very clear on what I want and what I don't want.

Are you uh the bread winner in your family? Like, how's your family dynamic set up? And does that matter with like your, you know, ability to be this awesome female entrepreneur?

Oh my gosh. Well, at this point, well, I sold in 2008, so basically retired, so I don't think there's a We have so many companies now to be honest that

that's so amazing. You guys like basically work together. Well, yeah. I mean, now we're we do a lot of investment. Like I'm still operational because it's fun and I sit on a lot of boards, but we're not doing it for like the money, which is an amazing place to be at. like we're doing it for the love of the game and I think that's a different place to be. But my husband is incredible and I think I could not have done this without him. And he's such an amazing I mean now we have four kids. So now it's like a balance of

it's like a team effort. Life's a team sport. If you can find amazing person to do it with, you will be so much more successful. So that is like the one thing I do know. And our 22 anniversary actually is um this weekend.

Yeah. You guys are the cutest family. A thank you. But I think, you know, knowing that and knowing you can't do it alone and having the the right partner makes such a difference in in happiness and success. And it's hard to find it, but if you do like hold on, right? And no, like I I also think really being really um grateful for what you have even though it's like there's there's differences, right?

Yeah. Well, Kim, this was such an awesome interview. I feel like people are going to learn so much from your entrepreneurship wisdom and advice. Thank you so much for joining us on Young and Profiting Podcast.

Oh, thank you so much for having me. I loved it. You know, I have to say I had such a great conversation with Kim. This conversation was long overdue and I learned so much from her. Kim is one of those female entrepreneurs that I greatly look up to and she had so much wisdom to give about entrepreneurship. And one thing that really stood out to me is Kim's clear belief that execution is the real secret of success. It's what separates dreamers from doers. And she broke execution down into five traits: vision passion action resilience and relationships. I want you to think about which one comes most naturally to you and which one of these traits you need to really work on that you still need more growth. Because Kim made it clear, when you master these five traits, you massively increase your odds of winning in business and in life. So, how are you going to execute better? Another powerful insight was mistake number one

from her book, waiting until you feel 100% ready. Kim reminded us that if you wait for perfection, you're just going to wait forever. Instead, apply the 70% rule. When you're about 70% confident, take that leap. That's how you avoid analysis paralysis and actually get into the market where real learning happens. I also loved Kim's metaphor of being the buffalo. When the storm rolls in, most people just run away. Buffaloos charge straight into the storm and get through it faster. That's such a powerful way to reframe any challenges that you encounter. Whether it's AI disrupting your industry, market changes, or any personal setbacks that you have. The people who succeed are the ones who are willing to face the storm headon. You've got to charge into the storm and be the buffalo. If you want to dive even deeper into Kim's hard one lessons, make sure you grab her new book, Mistakes That Made Me a Millionaire. It's packed with

the kind of insights we covered today and so much more. Thanks for listening to this episode of Young and Profiting. If you listen, learned, and profited from this conversation, and you feel like somebody else needs to hear this entrepreneurship advice, then share it with somebody who you think will find it valuable. And if you did enjoy this show and you learned something new, then take a couple minutes to drop us a review on Apple Podcast, Castbox, Spotify, or wherever you listen to the show. We love a good review. I read my reviews every single day and it keeps us motivated to keep putting out great content like this every single week. If you want to watch this podcast on video, you can of course find us on YouTube. All of our episodes are published on there. Just look up Young and Profiting. If you want to connect with me personally, you can find me on LinkedIn. Just search for my name.

It's Hala Taha. You can also find me on Instagram at Yapwithhalla. And of course, I've always got to shout out my production team at the end of the show. I've got an amazing team at Yap Media. They are all such rock stars. Thank you guys so much for all your hard work. Jaren, thank you for all the amazing scripting that you've been doing lately and the research. Paul, thank you for coordinating our growth programs. Hasham for Con. Joshua, thank you for all the guest bookings. Nina for leading the team. Maxi for editing. Ravi for your awesome videos. Jaden for publishing on social media. It takes a village to put on this show. So, thank you guys so much for all that you do. This is your host Holla aka the podcast princess signing off.

Questions about this episode

Who speaks in "Kim Perell: The $10,000 Idea That Became a $100 Million Empire"?

Hala Taha (Host), Kim Perell (Guest), Jaren (Guest), Paul (Guest), Hasham (Guest), Joshua (Guest), Nina (Guest), Maxi (Guest).

What is discussed in "Kim Perell: The $10,000 Idea That Became a $100 Million Empire"?

In order: 0:00 Execution, vision, X Drive, Kim Farrell; 5:00 AI consulting business, Costco, Instagram, Internet advertising; 10:00 action, Execution, relationship, resilience; 15:00 Revolve, J Shetty, Spectrum Business, Yap Media; 20:00 70% rule, action, Marine Corps General, Mistakes That Made Me a Millionaire; 25:00 relationship; 30:00 Shopify, action, Be the buffalo, Mattel; 35:00 relationship, Tel Aviv, I CARE framework, Shopify; 40:00 Abby Ziv, New York, New York; 45:00 Luke Skywalker, Obi-Wan Kenobi, Pow wow bow, relationship; 50:00 relationship, 70% rule, action, analysis paralysis.

What is mentioned in this Young and Profiting episode?

44 people, works and ideas are mentioned, including relationship, action, Execution, vision, Mistakes That Made Me a Millionaire, passion. Each one on this page links to its own page with every episode that mentions it.

How long is "Kim Perell: The $10,000 Idea That Became a $100 Million Empire"?

The episode runs 55 min; the transcript is about 11,141 words in 101 timestamped sections.

More from Young and Profiting

About this transcript: the episode's spoken words as captioned on YouTube, split into timestamped sections. Reclip.Me locates every person, work and idea in the text, keeps the time it is first named, and quotes the words around it verbatim. Last updated November 17, 2025.