Matt Higgins on Being a Shark Tank Investor & the Challenges of Scaling a Business

TL;DR

Matt Higgins, a Shark Tank investor and entrepreneur, shares his journey and insights into investing in startups and building successful businesses.

Transcript

• On this episode, my dear friend and business partner, Matt Higgins, stops by. Also, he's about to be a shark. (groovy music) Hey everybody, this is Gary Vaynerchuk, and this is episode 297 of the #AskGaryVee Show, and I'm super excited, because, has AJ been on this show? No, alright, so this is literally, probably the person I'm most closest to t... Read More

Key Insights

• 💄 Trusting the jockey (founder/entrepreneur) is vital when making investment decisions.
• 🤩 Building a scalable business with a clear path to growth is a key factor in Matt's investment strategy.
• 👨‍💼 Success is not just about financial returns; it also involves building lasting businesses that have a positive impact.
• 👯 Managing people is a challenge, and learning how to navigate people management is an ongoing process for entrepreneurs.

Questions & Answers

Q: What is Matt Higgins' investment philosophy?

Matt's investment philosophy centers around backing founders who have the right blend of confidence and humility and investing in businesses with long-term growth potential.

Q: How does Matt define success in his investments?

Matt believes success is not just about financial returns but also about building businesses that have a lasting impact in their industry and continue to grow over time.

Q: What is Matt's approach to managing people in his investments?

Matt acknowledges that managing people can be challenging but believes in hiring slow and firing fast. He understands the importance of trusting his instincts when it comes to managing employees and making tough decisions when necessary.

Summary & Key Takeaways

• Matt Higgins, business partner of Gary Vaynerchuk, shares his origin story of growing up in Queens and his drive to improve his circumstances.

• He discusses transitioning from being Press Secretary for Mayor Giuliani and working for the New York Jets to starting his own company, RSE Ventures.

• Matt's investment philosophy focuses on backing founders who have both the confidence and humility to succeed and aims to build businesses with long-term growth potential.