How did Larry Namer start E. With limited funding?
Short answer: Larry took $2.5 million, started with 11 employees and 31 interns, and bought TV equipment from a sales-training tape company. (11:33, 12:02, 12:30)
In a conversation on Richard C. Wilson's channel, Larry described starting E. With his partner Allan.
Larry on starting with $2.5 million
Larry said they thought starting a network would cost $60 million to $100 million. After three and a half years without raising that amount, he and Allan accepted $2.5 million from a Wall Street bond house. (11:05, 11:33) (at 11:05)
Larry on building a small team
Larry said the company began with 11 employees and 31 interns sent by his friend at the University of Texas in Austin. He said about half never went back to Texas after the internship. (12:02) (at 12:02)
Larry on makeshift equipment
Larry said they couldn't afford real television equipment, so he bought equipment from a company that made sales training tapes. (12:30) (at 12:30)
"we just said you know what we're smart enough we'll figure it out"
From Richard's exclusive Billionaires.com interviews
Lessons from Richard C. Wilson's one-on-one interviews, as published on each interview page.
- Bobby Castro: Change the strategy to scale. Bobby says that to scale a business, everything has to change. He suggests asking whether the business is scalable, whether it offers a solution and whether it is disruptive.
- Tony Robbins: Think like an owner. His biggest turning point was moving from operator to owner. An operator tries to supervise everything and cannot scale.
- Don Wenner: Commit to scale. Don's major turning point came when he decided to build a great company that makes an impact. Making money and being successful was not enough for him.
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Frequently asked questions
How did Larry Namer start E. With limited funding?
Larry took $2.5 million, started with 11 employees and 31 interns, and bought TV equipment from a sales-training tape company. (11:33, 12:02, 12:30)
Sources
Quotes are copied from the video captions and checked against the transcript. Timestamps link to the moment in the video. General information only, not legal, tax or investment advice.