The Startup Ideas Podcast
The Startup Ideas Podcast

My Year In Review: Lessons To Make 2024 Your Best Year Yet

December 28, 2023

AI Summary

5 min read

Greg Eisenberg, founder of the holding company Late Checkout, recorded a raw, no-holds-barred year-in-review for 2023. He got married, bought half of a business that is on track to generate $2–3 million in free cash flow in 2024, and turned down a $30 million private equity offer. But the episode is not a victory lap. It is a detailed, self-critical autopsy of what worked, what backfired, and what he plans to do differently. The central thesis is that entrepreneurship is a game of a few high-leverage ideas, and that the most important discipline is staying true to your own thesis rather than following conventional wisdom or fear-based advice.

The Cost of Listening to Fear

Eisenberg’s biggest regret of 2023 was taking bad advice. Early in the year, someone told him to keep his innovation agency team lean because a recession was coming and Fortune 500 clients would cut budgets. It sounded logical—tech companies were laying people off, and the news was full of recession warnings. So he held back on hiring. The problem was that the advice was wrong for his specific business. His agency helps large companies build new products and community features, and in a tough market, those companies need new revenue drivers even more. The result: his team was fully utilized all year, and he estimates they left at least $3 million in revenue on the table. “We led with fear instead of lead

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What you'll learn

  • 1 (00:00) **Introduction & Year in Review Overview** - Greg Eisenberg introduces his 2023 year-in-review, promising to share wins, losses, epiphanies, productivity unlocks, and net worth updates to inspire listeners.
  • 2 (00:35) **Biggest Win: Getting Married** - Greg got married at 34 in a small ceremony with immediate family at a Montreal bistro, followed by a dinner in Canada.
  • 3 (01:27) **Big Win: Acquiring 50% of BoringMarketing.com** - An AI-enhanced SEO business that is projected to generate $2-3 million in free cash flow in 2024.
  • 4 (02:29) **Big Win: Late Checkout Holding Company Profitability** - All individual businesses under the holding company were profitable, validating the thesis that community-based products outperform.
  • 5 (02:51) **Big Win: Weekly Newsletter Discipline** - Started writing a weekly newsletter at GregEisenberg.com, inspired by Seth Godin's daily blog.
  • 6 (04:19) **Big Win: $30M PE Offer (Declined)** - A top-tier investor offered $30 million in private equity capital to scale Late Checkout, which Greg declined to remain self-funded.
  • 7 (04:53) **Big Win: Staying True to Myself** - Avoided getting distracted by competition or chasing followers/likes, focusing instead on what felt right.

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Show Notes

In this special end-of-year episode, Greg looks back at his biggest wins, biggest losses, business epiphanies, productivity unlocks, and so much more. 


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TIMESTAMPS


0:00 Intro

0:47 Big wins

07:11 Big losses

11:16 Business epiphanies

18:56 Productivity unlocks

22:11 Audience growth 

28:20 Game-changing products

36:22 Net worth & investment breakdown

39:26 Business updates

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