Lecture Notes: Podcast with Jesse Itzler

Introduction

• Host: Sam
• Guest: Jesse Itzler
  • Founder of multiple companies, including Marquee Jets
  • Known for his life advice and social media presence
  • Deep dive into his career and business numbers
• Episode Details: Meant to be 60 minutes, extended to 90 minutes due to engaging content

Major Businesses and Career Highlights

Jingle Business

• Transitioned from aspiring rapper to creating Jingles for companies and sports teams
• Sold jingle company to SFX for $4 million
• Initial earnings reinvested to grow the business further
• Advice from Lou Katz: “Will you make it work?”

Marquee Jets

• Concept: Fractional jet ownership (jet cards), sold to Berkshire Hathaway
• Inspiration: Experience as guests on a private jet
• Partnership: NetJets; leveraged a personal connection to get the initial meeting
• Strategy: Focused on obtaining high-profile clients (athletes, celebrities)
• Growth: Expanded quickly, first-year sales close to $200 million, eventually more customers than NetJets
• Marketing: Use of testimonials and focus groups to convince NetJets

Zico Coconut Water

• Catalyst: Hydration research while training for a 100-mile race
• Strategy: Partner with an existing brand to leverage expertise
• Key Moment: Obtained Coca-Cola partnership with the help of a video from Matt Damon
• Outcome: Coca-Cola purchased Zico

Notable Stories and Lessons

• Early days: Struggled financially, used persistence and networking to gain traction
• Will vs. Can: The difference between the capability and commitment
• Networking: Using small gestures (e.g., handwritten letters, texts) to build authentic relationships
• Managing Relationships: Importance of acknowledging people's life events (congratulate, compliment, console)

Operating Philosophy

• Project Selection: Focus on impactful and fulfilling projects over purely profitable ventures
• Investment Approach: Limited financial bets, focus on meaningful use of time and resources
• Business Opportunities: Identifying niches with little competition (e.g., pickles, ready-made drinks at liquor store countertops)

Life Philosophy and Advice

Kevin’s Rule

• Concept: Doing something out of the ordinary every other weekend
• Purpose: Enriching life with mini-adventures and memorable experiences

Big-Year Defining Events

• Musogi Concept: Completing one significant challenge or adventure every year
• Examples: Bike ride across America, living with a SEAL, etc.
• Outcome: Building a “life resume” filled with impactful experiences

Balance and Intention

• Focus: Maintaining health, family relationships, and friendships while pursuing success
• Impact: Ensuring that each venture contributes positively to life’s overall quality

Final Thoughts

• Importance of living on one’s own terms and having a balanced relationship with time and money
• Emphasis on both building a successful career and enriching personal life