Shoulders Of Titans Podcast Interview #024 with Matt Barrie:
Eight-time Webby award-winning Freelancer.com is the world’s largest freelancing and crowdsourcing marketplace by total number of users and projects posted. More than 17 million registered users have posted over 9 million projects and contests to date in over 850 areas as diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace engineering and manufacturing.
Freelancer owns Escrow.com, the leading provider of secure online payments and online transaction management for consumers and businesses on the Internet. Freelancer Limited is listed on the Australian Securities Exchange under the ticker ASX:FLN.
Matt Barrie, CEO of Freelancer.com and President of Escrow.com is a serial entrepreneur, technologist and lecturer, having won numerous awards including being named the inaugural BRW Entrepreneur of the Year in 2011.
Matt was previously founder and CEO of Sensory Networks Inc., a vendor of high performance network security processors, which Intel Corporation (NASDAQ: INTC) announced in 2013 it was acquiring. Matt is also an Adjunct Associate Professor at the Department of Electrical and Information Engineering at the University of Sydney, where for the last 12 years he has taught Cryptography, and from 2010, Technology Entrepreneurship. He is the co-author of over 20 US patent applications.
Matt is a prolific speaker and has spoken at, or featured in; the Summit Series, the New York Times, Bloomberg TV, The Wall Street Journal, TechCrunch, The Atlantic, Switzer, BRW and The Economist. In 2012, he was selected out of a field of 600 presenters to be one of 21 featured speakers at South by Southwest in Austin, Texas (SXSW), which is one of the world‘s largest interactive, music, film and technology festivals.
In 2006, he was awarded the State Pearcey Award for contribution to the IT&T industry. In 2010, he was named Alumnus of the Year for the Faculty of Engineering and IT at the University of Sydney.
In 2011, SmartCompany named him in the 11 most influential Australians in IT. In 2011, he was named inaugural BRW Entrepreneur of the Year. He was also the winner of the technology category in the National Ernst & Young Entrepreneur of the Year awards for 2011.
In 2012, he was named in the top 100 most influential engineers by Engineers Australia, and a 2012 Man of Influence by Men‘s Style Magazine.
In this year he also completed the Executive Program at Singularity University. In 2013, he was named in the top 10 Australian entrepreneurs to watch in 2013 by SmartCompany, the Blackberry Young Technology Entrepreneur of the Year by News Limited, a Silver Stevie in the International Business Awards for Executive of the Year in Internet/New Media, and again in the top 100 most influential engineers by Engineers Australia.
Matt has first class honours degrees in Electrical Engineering and Computer Science from the University of Sydney, a Masters in Applied Finance from Macquarie University, and a Masters in Electrical Engineering from Stanford University in California. He is a graduate of the Stanford Executive Program at the Graduate School of Business. He is a Fellow of the Institute of Engineers Australia and Councillor of the Electrical and Information Engineering Foundation at the University of Sydney.
Matt is regularly invited to speak at the world‘s leading entrepreneurship, internet and business conferences/forums. He is also one of the worldwide Linkedin Influencers, along with Richard Branson, Barack Obama and Deepak Chopra, where he writes on the topics of entrepreneurship and technology.
Visit Matt Barrie’s Website: https://www.freelancer.com
Topics Discussed In This Interview:
- How to secretly and strategically buy businesses (for pennies of their true worth) and short-cut your business success by decades
- How he built a multi million dollar business
- How to go from being “a self-admitted failure” to being in LinkedIn’s Most Influential List in a short few years
- The insider’s guide to bootstraping a business to a market capitalization of $200 million dollars
- How to recognize a REAL billion dollar idea that is hiding right under your nose… and how to quickly turn that idea into legendary success story before anyone else steals it away from you
- Why assessing opportunities is a critical skill of being a wealthy and successful entrepreneur… and why the lack of this skill will destroy you
- The one, simple tweak to a webpage that could instantly double revenues for an entire business (this updates takes less than 40 seconds to do and is applicable to most businesses)
- The #1 unbeatable, most efficient way to raise capital… and it’s not by going to venture capitalists or angel investors… know this one secret and never see the business world in the same way again
- The step-by-step breakdown of the “Pirate Model Of Massively Scaling A Business” which includes the most efficient, proven systems for customer acquisition, customer activation, revenue, retention, referral and “customer resurrection”
- The only type of business that can be worth 9-figures with up to 88% gross profit margins… all while spending as little as 3% in revenues towards marketing
- How to strategically name a company, so competitors cannot advertise their businesses without advertising yours too… all while boosting your SEO to the number one spot in all your targeted keywords on Google
- The one big transaction (that wipes out several months of cash flow), but can also instantly skyrocket sales anywhere between 5-10 times what they are today
- And much, much more!
Full Transcript of Interview:
“After a million dollars in revenue, your business growth becomes more of an operations research or an optimization problem. At that point, you can start applying statistical methods to try to grow the business.”
“The best place to raise money is to sell something useful to customers.”
“Every time you came into work, there was a smell… that was the smell of burning money.”
“In the world around us, there are so many opportunities you can start and most entrepreneurs spend more time running that business than their marriage, so you have to be very careful with the opportunity you select.”
“In the world of 2016, most of the things you need to build an internet business are basically free with open-source software… or cheap.”
“The best thing you can do is not raise any money from investors if you can… If you have to raise money, make sure to raise money from business builders themselves.”