Paul Orfalea is the founder of Kinkos which sold to Fedex for $2.6 Billion in 2004. In this interview I ask him: 1) how he turned a $5000 investment into a $2.6 Billion company, 2) what it’s like living the billionaire lifestyle and 3) his business advice to entrepreneurs getting started out.
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Timestamps:
00:00 – Intro
01:11 – Selling the business
02:38 – How Paul made his money
04:07 – How he turned Kinko’s into a billion-dollar business
11:01 – How he felt selling Kinko’s
14:05 – Was it worth it?
16:46 – Advice for people starting out
17:57 – Paul’s first job
18:37 – Paul’s superstition / Why Paul doesn’t brag
21:18 – Finding your business’ weaknesses
22:58 – What makes a store good
25:00 – Other businesses Paul started
26:35 – How people should live their lives
27:12 – Paul was lucky
29:32 – How Paul enjoyed the money
31:18 – Silliest ways Paul spent money
32:37 – Paul’s plane
34:55 – Is Paul happy?
36:24 – What Paul wasted money on
36:55 – How Paul’s wife impacted the business
38:47 – Paul’s memorable moments
39:53 – The day Paul sold Kinko’s
40:51 – Lowest moments of running Kinko’s
43:47 – What most people don’t know about being wealthy
44:47 – Paul’s charitable causes
45:56 – How Paul raised his kids with money
47:35 – Paul’s legacy
48:01 – Where Paul wants to go in the afterlife
49:40 – How someone can become a millionaire today
51:27 – How to come up with business ideas
52:24 – 3 things you need to be successful
54:17 – Why recognition is important
55:02 – Why Paul wants lawsuits
57:23 – Memorable employee story
58:25 – How do you spend all the money
1:00:41 – Inheriting wealth
1:01:49 – How Paul spends his days
1:03:02 – What makes a great life
