Brian Lee is a rock-star serial entrepreneur and incredibly successful venture capitalist. He is also a great philanthropist dedicated to leaving and impact and giving back to the community.
He is a co-founder and ex-CEO of LegalZoom, a co-founder and ex-CEO of ShoeDazzle, a co-founder and ex-CEO of the Art of Sport, co-founder and current CEO of Arena Club, and co-founder of the incredibly successful venture capital firm, BAM ventures.
Brian Lee is also an amazing person, dear friend, and a mentor and I am very grateful for having him on In Search of Excellence!
00:00 – Brian Lee's background
- Who is Brian Lee?
- Brian’s parents and their coming to America
- How Brian’s dad built a successful business
- Working in furniture factory and selling furniture on weekends
- Got the idea for his own business - started selling stainless steel utensils
- Became a very successful entrepreneur
06:59 – Can you learn to be an entrepreneur?
- It can be learned, but most entrepreneurs are born with that DNA
- Entrepreneurs don’t wait, they seize opportunities
- If you have an idea and want to peruse it, go and do it
- Entrepreneurship is mostly a young person’s game
09:09 – The advice to people who are afraid of failure
- It’s ok to fail, failing is learning
- You have to get back on the horse and keep going, many entrepreneurs failed several times
- You have to be focused and work very hard
- Nothing happens out of itself
14:25 – Brian’s education and the importance of attending a college
- High school - wanted to be a rapper, tried it and it didn’t work
- College - went to UCLA School of Law
- The college experience is important! Meeting different people, understanding different perspectives and learning about life
- Salesmanship is a key for everything you do in life, whatever you do, you are selling
- Cold calling is one of the best skills to learn
- Brian’s first job – cold calling and selling oil
- Randall’s first job – cold calling for home-improvement company
21:09 – Are grades important when hiring someone for a job?
- No one pays attention to the grades, but it’s important to finish what you started
- What is important are commitment and drive
- When you constantly changing jobs, this means you cannot commit
- Important traits – dedication, loyalty, ability to see things through
- What to do when you are unhappy on your job – stay or leave? A little bit of pain in life is inevitable, sometimes you have to suck it up!
21:09 – The grass is always greener
- Stick it out and do well with what you are given
28:02 – LegalZoom
- The late-night call with Robert Shapiro at 9:00pm
- LegalZoom's goal was to bring trust to people, not steal information
The Honest Company: https://www.honest.com/
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Website – https://insearchofexcellencepodcast.com
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LinkedIn – https://www.linkedin.com/in/randall-kaplan-05858340/