Nick Friedman
speaker
121 appearances
1 recordings
1 series
first heard Mar 2025
last heard Mar 2025
Nick Friedman’s voice in public audio — every appearance, attributed to the second.
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Appearances
He got very mad at me. I said, that's an interesting hobby. He goes, no, it's a business. It's not a hobby. And I was like, oh, got you. My apologies, because I'm thinking this guy's almost 90 years old, and he's got all these horses that he's breeding and selling.
But he's running it just like a business, and he's just as fired up about it as he was the publicly traded company that he grew as well.
That's right. Well, there's nonprofit benefits as well out there that, you know, you can get involved in, too, in no margin, no mission. So if you didn't have a successful business, you couldn't do things like that. They weren't businesses that were, you know, nonprofit or community driven initiatives as well.
Well, you know, there's a quote we always say, you know, don't chase the money, chase the dream or the purpose or the impact. Chase something that's broader than just making money because money is a powerful tool. It's a facilitator. It can create your lifestyle, but it can also create impact for the people that you care about, whether it's a community or family or your employees.
And so having some sort of purpose-driven impact is critical, but without margin, there's no mission, like I just said. So you've got to have a profitable business. You don't want to donate yourself out of business. I tell our early franchisees that a lot. Don't just start giving free moving or free junk removal because people are asking you because you've got trucks.
You've got to build a business first, and then you can create a give-back program. And the reason is, to answer your question, because people are passionate about making an impact. People care that they mattered and that they made a difference.
And if you're getting up every day and your pure motivation is making money, you may be disappointed several days out of the year because not every day is easy. Not every day did you make the money you hoped to make personally or professionally. And so for us, we have a two for one giving campaign. We obviously borrowed it from the Tom's Shoes concept.
We said, well, instead of one for one, let's give two for one. We donate two meals for every completed job that we've completed. And we started that a few years ago. We've donated over 5 million meals to U.S. Hunger. We also, during COVID, saw all the reports of the domestic violence that was happening and people being stuck with their sort of abusers.
And we offered free moves for survivors of domestic violence. We've done over 150 free moves for survivors of domestic violence. And it doesn't have to be something financial or pro bono like that.
Through our junk removal, we've formed partnerships with nonprofits where we donate over 70% of the items we haul to Goodwill, Salvation Army, Habitat, just to be able to try to keep the stuff out of the landfill and give it into a reuse cycle as well. It motivates, inspires your employees. They're going to want to be part of something bigger than themselves, bigger than the business.
And I think that's why social initiatives and giving is that much more critical.
Ooh, great question. Well, hopefully my parents or hopefully my children are adults by the time I pass away. And so I've been able to at least steward and observe their ability to be high functioning members of society, not, you know, degenerates or whatever other, you know, bad paths that in some cases you fear your kids could go down. Yeah.
given that they're assuming that they're high impact, high performing members of society. I don't think I would be afraid to bestow them my my, you know, my estate to invest and to impact and to give, you know, how they would see.
I mean, obviously, maybe not 100 percent. I would, you know. allocate a significant amount to charitable causes that I'm passionate about, or charitable trusts that would have a trustee to help, you know, disseminate over time. But, but yeah, I think, I think the, you know, the ability for for your kids to carry things forward is important.
The Mike Tyson quote recently, I love that he was getting interviewed by like a 13 year old girl, he just goes off the rails, he goes, legacy is another word for ego. And I thought that was interesting, because, you know, a lot of people talk about wanting to make, you know, leave a legacy. And,
You know, when he said that, it actually made me think a little bit like, you know, is it really am I trying to leave a legacy that just so people remember me or am I trying to leave a legacy of actually, you know, making an impact and helping empowering others?
So as I think about what that future looks like, stuff that I'm passionate about, entrepreneurship, building leaders, lifting up, empowering communities that maybe don't have the opportunities that we have. we all had, whether it's through mentorship or, you know, investment, then I think those would be the channels that I would deploy money to.
And then, you know, hopefully my kids are good stewards and would want to start businesses or make a difference as well with whatever there is left for them. And of course, there's the Bill Perkins concept, you know, spend it all before you die.
And I don't know if I subscribe to that totally, but I get the point of, you know, you're not going to be here and you don't want people to, you know, mismanage it while you're gone. So why not be the steward of it while you're here?
I'll say my answer today will be 50%. I'll split the difference on that one.
Showing 101–120 of 121 · page 6 of 7
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