How I Turned $5,000 Into $2.6 Billion

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.

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

[Benedictrud]

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

[ArmraJames]

Tesla stock dipped severally, resulting to about 23% drop in the shares value this month. I seriously need suggestions on how to diversify my $400k portfolio made up of volatile TSLA.

[cctreadway]

This guy is a perfect combo of no BS, compassion, generosity and candidness. He's so honest I love it. Life is such a mixed bag no matter our choices, and he wears it all very well.

[SANLEOR]

*Amazing. “How to build wealth, do this..”*

[valuegrind]

"You know what success is, success is when your children want to be with you when they are adults" - GOLD

[ShaunLetang]

Gold. There's something about listening to older entrepreneurs that you can't get from ones your age.

[rickbarrington]

“Coolest thing I’ve ever been called in my entire life - Dad.” Truest thing. I lost my only son at 21 two weeks ago. He loved life, loved coming home. Having him in my life was my life’s greatest gift

[Patriciacraig]

<Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them>

[bleacherz]

Absolutely the most sincere, truthful interview of a billion dollar founder I’ve ever seen, and I’ve seen many

[UrryNation]

I worked for Paul and he is such a kind guy. He is so smart it is scary. He knows people and how to treat them, we all wanted to work for him.

[keis]

“Things ran beautifully without me, but whatever I did made it better”. As a business owner myself, that is the best quote I’ve heard in decades.

[roseroland]

If a good amount of folks do what you say, just imagine how many millionaires we already have or will have in the future. I have been looking at similar opportunities. As Noah noted, he has witnessed this occur frequently. Never did my Husband and I make more money than others in the middle class. With a $250k stock portfolio, we intend to retire at age 58. Never have we ever sold even one share of stock...

[shanebrennan]

This is the most legit interview i have ever seen of a business owner. I love how no BS straight up he is.

[sbboy]

Paul has been a family friend since as early as I can remember, eventually a mentor, and now a friend in my adult years. He’s genuine, gives back, and is fun to be around.

[pascualcaraballo]

I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time . I was able to build a business from my returns

[svengrot]

Warren Buffett has mastered what patience looks like. He has stuck to the markets, having a long term view on the markets. This is what I'm struggling to do, trying to learn how to not react to market news about inflation and all. I have currently set aside about $253k to put in the market now that prices are down. Any ideas?

[MrX-vzkp]

I like the way he speaks bluntly, he doesn't hide the fact that he has done some mistakes both personally and in business, the struggles of business and the anxiety coming into success, and at times, the small wins that are then overshadowed by things going wrong...the depression and sadness that you have to nurture yourself...we should hear more from him.

[Alejandracamacho]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[sloperparks]

"I teach people how to ask questions... Life's about questions, not the answers." That's great.

[michaelwashington]

So much respect for how humble Paul is. And he’s a straight shooter. The fact that he’s transparent about not being a good reader and how much luck playing a part in his success.