Kim Perell
Appearances
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Oh, my gosh. I mean, for me, to be honest, it's not work-life separation. It's work-life integration. Most of my relationships are all integrated into creating and doing fun things together because my passion is creating and building. And I think also prioritizing. I say no to a lot of things that aren't either across my passion. I have family first all the time.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
And then to be honest, I love to create. So I say, no, just a lot of things that aren't in that zone of genius where I'm at my best. So knowing when you're at your best, like what gives you energy and what drains your energy and then prioritizing accordingly and trying not to do everything.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Oh my gosh. It's so much. I'm a student of life. I love to learn. I'm now a beverage expert, which makes me a better investor. So if you would have said to me before I founded Junie and I'm in it, right? Like I can, I know every detail. So it's so fun to be able to now evaluate new investments because my knowledge base is so vast and I just love to learn. So I think you really have to
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Invested as you said probably in close to 150 companies. I know but it had at least 50 exits still good vintages to come Yes, so I've invested and started young started young and I think honestly to your point. It's about giving back So being able to continue to pay that forward my grandma made a bet on me and I really you know Look to pay that forward.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Honestly, if you want to operate or invest, I like to do both, but love to learn and have a good time. If you love who you're building with and love the product or challenge you're trying to solve in the market, I mean, this is energizing to do, right? And if it's energizing, this is like filling your bucket up, which is amazing.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
So some companies, honestly, I just give a check and advise and I help make connections. Some companies actually I believe in, like I'm healthy. I love biohacking, everything about health I like to do. It makes a lot of sense. And I want to drink something that's better for me than like a soda, right? I mean, I'm on the go. I just, it feels good to put good things in your body.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Oh, my gosh. That's a good question. I mean, we told our kids at 18 they're out. So I'm very into having to be out. And they're like, oh, mom, it's coming. You know, I got only 13 good years left. So, I mean, honestly, we haven't thought about that in terms of. what we're going to leave or not leave to our children.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
I think just because right now we're in a building phase of life, but I don't want, I mean, it would handicap my children to give them too much. So likely, if you know me, you're likely not going to give them much. I mean, honestly, leaving them books. The books are a roadmap to success. Read the books, you'll be successful.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
So I really don't want to, we make it a point, we don't give a lot, you know, because I don't think you need to. I think if we teach them how to be great little leaders, like that's the best gift I can ever give them. So, I mean, the honest answer is probably not a lot, very little. Right.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
No, I don't think. I'm probably closer to the zero part, to be honest. You know, because I started with nothing. Sure. And I think that gave me tenacity and passion and grit. And I want them to have the same... passion and drive that I have.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
We have a chore chart. They do chores at five. They get a lot more for cleaning the dog poop than they do for washing the dishes. But we're very big on chore charts. We're very big on... You have ability to make money to buy whatever they want, which they don't want much, right? I don't even know what they're... They actually don't want to spend it. I'm like, you got to spend it too.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
There's no point to make it if you don't actually get to spend it, right? You got to move in and got to move out. So I think it's fun to have... You know, they, and I think we underestimate what they can do at a young age. They know at five years old, they know what a chore is. Like they know how to do things. So we have them do a lot of stuff.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Oh my gosh. Well, you can find me on online, kimperell.com on any social handle. And you can find Junie at drinkjunie.com. You can find my great clean beauty product at kskin.com. All the great investments. I mean, if you've got a great idea and you're looking for an amazing investor, then please reach out to me on either probably LinkedIn, since it's a professional network, would be ideal.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
But always looking for the next big idea. I know you too are, Dan. And my book. Yes. Oh, my gosh. Book at any place they sell books. You can buy it. Amazon, Barnes and Noble, you name it. This book will change your life.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Yeah, you have to have proof of concept, product market fit. As an investor, and I invest a lot, if you just tell me you have a great dream, and I love a great dream, right? But if no one actually is willing to pay for that dream, it is a hobby. Right. And so you need to actually be out there and be like, Dan, are you going to buy my Juni? Because it is delicious.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
It is only five calories, zero sugar. It's got ashwagandha and lion's mane and reishi mushroom. Dan, you're going to be like, Kim, I would pay five bucks for that. Good news, it's not five bucks, but... someone wants to buy.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
I totally agree. Well, we actually just had our first launch at Costco and it sold like hotcakes. So I feel like, you know, regardless of who's involved, it's a great drink. But I also think it's based on market opportunity. There's a big market opportunity. People are moving towards health and wellness and they're really focused on fitness. And the drink's perfect for that.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Oh, because you can feel it. So I spent 20 years in tech, which is the digital world. And so now being able to invest and create in the physical world, my kids actually know what I'm talking about. And I say, Junie's at Costco, they love Costco. So they're like, we can go to Costco, ride the cart, get the samples, drink the drink. For them, there's a connection point that I didn't have before.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
And so it's really exciting for me to be able to share that with other people. You know, even being able to come here and give you a Junie, right?
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Okay, well, first of all, if you're working a nine to five, that's only eight hours and that's what everyone does. So you're definitely not gonna be able to do something that create, like create a company. You actually need to take the next eight hours and start the company. Like I always say, don't quit your day job. Like do not quit your day job. Use your day job to then fund your side hustle.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
And when your side hustle has enough opportunity and enough revenue, then make the jump. So I don't know, maybe it's 80%, but definitely don't quit your day job. And definitely spend eight hours working, eight hours sleeping. There's eight hours of opportunity. What are you doing with those eight hours is what I ask people. It's like you're surfing the internet. Please stop surfing the internet.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Let's create, let's innovate, let's ideate.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Yeah, you're losing.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
You just lost all our money.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
It's invested.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
I mean, I love to see a hundred times exit, Dan. So for me, I mean, I'm an entrepreneur at heart. So, and I know that if you can get in early and if you are in your betting where I bet, which is seed early stage, right? Like the beginning, you're going to have a very big outcome if you can be a success. I just love the entrepreneur. I love someone that's like, I'm just going to go all in.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
And like, regardless of what people tell you, because when I started my first company, I had $10,000 and people told me I was crazy. The internet is a fad. You know, there's like, get a J job, Kim, this is terrible. Like, seriously, this is not what you should be doing. Now, hindsight, you know, obviously the internet is not a fad. And...
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
I made a lot of money and that $10,000 investment, I mean, millions and millions came back. So I think making those bets on people is a great, now granted I'm diversified, so I'm investing in crypto, I'm investing in startups, I'm investing in real estate, I'm across the board investor, but I love the entrepreneur.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
I am, I love it, I love it.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
I mean, you are like, oh my gosh, what else can we start? It's hard.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Oh my gosh. First of all, I love a vision board, right? As you know, and I've been doing it. My mom actually started doing it with me when we were kids and just having that opportunity to sit back and take... magazines. So what we did is, you know, you take magazines, you put them out. Yep. You cut, you cut, you cut out things that call to you. So it's less focused from the mind.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
It's more from the heart. And I think that's really what makes a difference and taking out different clippings, putting them on a poster board and then putting it in somewhere we can see it every single day. And so we've been doing this for 20 years to your point, honestly, I probably have success rate of my vision boards coming to life of 92%. I'm not joking.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
So every year, I mean, if it didn't work, obviously I wouldn't keep doing it, right? Like every year, if you haven't done one, you should actually go do one because it's a game changer and it's a manifestation of what you want to create and like what your soul wants to create. And that's what brings energy and life and purpose, right? And meaning to people.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
I mean, number one, I look at, so I actually wrote another book looking at what do I invest in and looking back at the successes that I've had and the outcomes, big outcomes that I've had. And what are the traits of great entrepreneurs? And number one is having a crystal clear vision of what you want to achieve. You have to, it goes back to vision board.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
If you don't know where you're going, how do you expect to get there? So having that vision. Most founders, they have that, right? And I think even with the tea, Jay and Roddy, they had a vision of how to bring something healthy and a drink that could create something for me and you. It's called Juni, Just You and I. So having that vision of what you want to create to create a mindful moment.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
So whatever it is, that entrepreneur has to have that vision. Number two, they have to have the passion, which is like the fuel to keep going when everyone else is going to give up. And trust me, how many times have you wanted to give up? Yeah. It's easy to quit. The hard thing is to keep going. I mean, you have to be able to take action.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
So really understanding, are you willing to take that first step? Are you willing to risk failure? If you're not willing to risk failure, you'll never be a millionaire.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
I mean, without a doubt. And I think having great relationships. I mean, me and you both value that. So it's having those relationships and the people that you've had relationships for a very long time, people that you can call when it's not good, but when it's good too, right? It's always nice to know. And then really just understanding, again, what's going to really drive that person.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Like, the biggest thing from an entrepreneur is, are you resilient? Sure. Because it is hard, right? I know. And I talk about it all the time as an entrepreneur. You know, I've been sued. I've been served. I've been bankrupt. I've been broke. Honestly, I've lost everything. And... I still believe, regardless of circumstance, that I will still be successful.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
And I think that belief is what pushes entrepreneurs through.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
I mean, but we're hustlers, so I think I'm pretty confident. I think we'd have to assess the situation. But now with AI and all of the tools available, it's never been easier to start a company, ever.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Well, I think now I have the experience. You do too, right? I have decades of experience. I mean, that's why I wrote my book. I have so much. No, but it's interesting. My new book, Mistakes That Made Me a Millionaire, is all about the mistakes I made. I've made so many mistakes. So now, if I started...
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
From scratch, knowing what I know now, I would be able to skip a lot of lines, a lot of the heartache that you have. The dummy text. Yes, the dummy text. Oh, my gosh. I made so many mistakes through my journey. And if you can learn from those and skip those, you can obviously make millions faster.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
I think it's being okay to look stupid, being okay to ask for help. People usually, and I talk about one of my mistakes that I made was thinking I could do it alone. Sure. And I thought I could do it alone because everyone told me I was crazy. I didn't want to look like I was under, like I was not qualified to run a company at 23 and having no experience, right?
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Oh my goodness. Thank you so much for having me. So excited to see you today and just love being with you, Dan. So, Two Minute Bio. Okay, well, let's see. I started my first company at my kitchen table in Hawaii and then I sold that five years later. I sold my last company for 235 million to Singapore Telecom, worked at a publicly traded company out of Singapore for almost six years.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
So you just don't want to look stupid so you don't ask questions. And I think the most important thing to do is to ask. Like no one's successful alone. I haven't made, honestly, you can't make millions by yourself. Maybe you make it once or like one, but honestly, it's not scalable. It's not sustainable because then you're going to burn out. And it's actually not fun.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
You want to do, like build great things with great people. It is fun and energizing to do that.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Yeah, I think we have a mission and a purpose just to give back and to help people less fortunate. I mean, I really do. And for me, my mission is entrepreneurs. So I spend most of my time giving my time actually back to entrepreneurs.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
I especially focus on women entrepreneurs that I can help, that I can give a hand up because I've had so many amazing individuals help me and I want to return the favor. Yeah.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
Yeah, I think for me, to your point, it has to be personal. And so I think my brands that I've invested in, I'm invested in a clean beauty company that's focused on sunscreen called K-Skin. And one in five, or four in five people, I think, are going to get cancer over the course of their life. It's huge. Whatever the number is, and I'm not quoting it correctly, but it's significant.
The Money Mondays
How to Start a Company Without Quitting Your Job - Kim Perell 🏢 EP124
And so trying to find... causes that are very personal, like make the biggest impact, right? And whether it be Alzheimer's or breast cancer, whatever it is that personally resonates with you makes the most impact and you feel really fulfilled.