John Morgan's Aggressive Execution and Diversified Empire - Episode Hero Image

John Morgan's Aggressive Execution and Diversified Empire

My First Million · · Listen to Original Episode →
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TL;DR

  • John Morgan's success stems from a "fish first, fish fast" approach, prioritizing case acquisition and execution over competitor mediocrity, enabling him to secure significantly larger verdicts and higher profit margins.
  • Morgan's entrepreneurial journey demonstrates a "bullets before bombs" strategy, testing and refining ventures like his law firm in specific cities before large-scale expansion to mitigate risk.
  • The "Google was a law firm" vision drove the creation of Litify, a tech platform that revolutionized legal operations through transparency and automation, initially for internal use and later sold.
  • Morgan's "practice made perfect" ad agency created a network of law firms, generating revenue and a consistent flow of high-value cases by offering marketing services and case referrals.
  • Morgan views his diverse ventures, from theme parks to law firms, as a unified "circus" built on "love them, feed them, focus," emphasizing team building and exceptional execution.
  • Morgan's proactive approach to civic engagement, such as running constitutional amendments for medical marijuana and minimum wage increases, demonstrates a strategic use of influence and public platform.
  • Morgan's attraction businesses, like WonderWorks and Downtown Flavortown, leverage prime locations and exceptional value propositions, offering multi-faceted entertainment experiences that drive significant revenue.

Deep Dive

John Morgan, America's wealthiest lawyer, demonstrates a unique entrepreneurial approach characterized by aggressive market entry, a "fish first, fish fast" philosophy, and a focus on high-stakes outcomes, which has enabled him to build a sprawling empire across legal services, entertainment attractions, and real estate. His success stems not just from identifying opportunities but from a relentless pursuit of excellence and a willingness to challenge industry norms, particularly in his legal practice where he revolutionized advertising and trial strategy.

Morgan's diverse ventures, including WonderWorks (interactive museums), Alcatraz East (crime museum), and the massive Morgan & Morgan law firm, illustrate a core principle of scaling and team building, often referred to as building the "greatest show on earth." He emphasizes creating environments where talented individuals ("racehorses") are nurtured and focused, enabling the firm to achieve exceptional results in high-value cases, contrasting sharply with competitors he labels as "cockroaches" who accept subpar settlements. This approach extends to his entertainment businesses, where he prioritizes prime locations and exceptional value, such as the "Downtown Flavortown" concept, which blends dining and entertainment. His strategy for the law firm, "What if Google was a law firm?", highlights a vision for ubiquitous presence, automation, and a referral network built on his proprietary Litify software, which he also commercialized. This software, initially developed for internal use, became a key differentiator, creating a network effect where referring cases required adoption of the platform.

The implications of Morgan's model are significant for entrepreneurship and business strategy. His success in the legal field, particularly the aggressive adoption of advertising and his focus on winning high-stakes trials, challenged traditional practices and demonstrated the power of a strong, mission-driven brand ("For The People"). Furthermore, his ability to identify and capitalize on underserved markets, like his successful campaigns for medical marijuana and minimum wage increases in Florida, showcases a strategic use of public influence and personal capital. Morgan's diversified portfolio, from theme attractions to real estate and legal tech, suggests that a deep understanding of market dynamics, combined with aggressive execution and a commitment to cultivating top talent, can create compounding advantages across seemingly disparate industries, challenging the conventional wisdom of singular focus.

Action Items

  • Audit 5-10 existing business processes for potential "round peg in a square hole" mismatches, prioritizing those with high failure rates or low profitability.
  • Develop a "bullets before bombs" testing framework for new ventures, requiring a pilot phase with defined success metrics before full-scale investment.
  • Create a "fish first, fish fast" intake system for new opportunities, ensuring rapid evaluation and initial engagement to identify high-potential ventures.
  • Implement a "win-win" referral program for 3-5 key business partnerships, incentivizing collaboration and knowledge sharing to drive mutual growth.
  • Design a "profit center audit" for 2-3 underperforming ventures, identifying root causes of low profitability and defining clear action plans for improvement or divestment.

Related Episodes

Key Quotes

"My big vision was this what if google was a law firm what would it look like you just became a lawyer to fund your harney ambitions and that's pretty badass i built an attraction called alcatraz east and it just prints money i've got apartment complexes i've got shopping centers that prints money too it's basically like half walt disney half shark where my competition gets beat by me is 95 of them are shit i'm not hunting cockroaches i'm hunting big game i got goosebumps john i love that answer that was incredible"

John Morgan explains his overarching ambition to transform the legal profession into a Google-like entity, emphasizing a focus on "big game" opportunities rather than minor ones. This quote highlights his dual approach of leveraging his legal career to fund diverse entrepreneurial ventures, particularly in entertainment and real estate, while maintaining a competitive edge through a distinct business philosophy.

"Well believe it or not i tell this to my wife all the time the thing that i'm most proud of in all my businesses has been wonderworks the upside down house back in the 90s my kids were little we'd go to the science center and it was just you know they were shit they were terrible and the kids were wanting to leave before they got there and i had a business where i put on fairs around america and in one of our one of our vendors had this huge tent and everything in it was interactive interactive touching feeling before before interactivity was a thing and i said you know if we built a science center that was interactive that's what a science center should be where you're touching and feeling doing and then parents would enjoy as much as kids"

John Morgan expresses his particular pride in WonderWorks, an interactive science museum, detailing its origin from a desire to improve children's museum experiences. This quote illustrates his entrepreneurial drive to create engaging, hands-on attractions that appeal to both children and adults, stemming from a personal observation of a market gap.

"America is fascinated with crime and punishment like nothing else tv shows movies books netflix all of it and i was in the attraction business anyway i said you know what about an attraction dedicated to the history of crime and punishment and so i built an attraction uh that's in pigeon forge tennessee called alcatraz east and it's i built it it looks like a 1800s prison and it's the history of crime and punishment and it just prints money"

John Morgan describes the genesis of Alcatraz East, a crime and punishment museum, by identifying a widespread public fascination with the subject matter. This quote demonstrates his ability to connect a cultural phenomenon with a viable business model, leveraging his experience in the attraction industry to create a profitable venture.

"So the reason i know all these people because i've written a new book that's being edited right now called life is luck and the thesis of my book is we wake up we're born but we're born lucky you know we're born in america first of all warren buffett calls it you know winning the ovarian lottery just being born in america and then you make a thousand left turns and a thousand right turns and a thousand u turns and then you end up here and one different turn but part of my thesis is the paperboy the papergirl these people that were born with that genetic seed of entrepreneurism and you can't be taught it's just it's just in you and it's it's such an advantage uh in life because and it's really nothing we did we were born with it"

John Morgan introduces his forthcoming book, "Life is Luck," and its central thesis that success is largely attributed to luck, beginning with being born in favorable circumstances like America. This quote emphasizes his belief that innate entrepreneurial drive, exemplified by early hustles like paper routes, is a genetic trait that provides a significant advantage, rather than a skill that can be taught.

"Well i've always been you know aggressive and i'm a networker but i didn't want to do it this way because but paying that 50 how i looked at it was this they were throwing me their trash i felt like that i was up in a dumpster eating a half eaten whopper that had been thrown up in the dumpster but guess what it tasted okay you know the i was living but i would rather have just had a fresh whopper right through the drive through window instead of having to climb into the to the dumpster and that was my decision do i just keep because i knew it was going to happen and i knew first to market was always an advantage and if i could get in there early enough you know and become kleenex instead of you know tissue i had a better chance"

John Morgan explains his decision to embrace advertising for his law firm, despite the prevailing taboo among his peers, by viewing it as a strategic advantage. This quote illustrates his willingness to challenge industry norms and adopt innovative marketing approaches, likening his early adoption of advertising to becoming a recognized brand like Kleenex, thereby gaining a competitive edge.

"So i say to the guy i say he says what do you want the most i said i want transparency and automation now we had a software called client profiles and it was was pretty good but he kept saying it's not enough it's not enough it's not enough we have to build our own software and i and that's the last thing i wanted to do because it's just too big and i'm like that's not what we do but he finally convinced me we got to build it and i had jane such trust in him i said well let's go ahead so we built litify for us internally and we put and we put it on salesforce we we layered it on salesforce nobody had ever done that before so all of a sudden we got all these engineers we got this you know we got a staff of thousands of engineers salesforce was interested in us because they hadn't been in the legal space before and we can change things with with we can do whatever we want so so we started litify"

John Morgan recounts the development of Litify, a legal tech software, emphasizing his initial reluctance and eventual decision to build proprietary software driven by a desire for transparency and automation. This quote highlights his trust in key personnel and his strategic pivot to embrace technology, leading to the creation of a platform that was then offered to other firms, demonstrating a synergistic approach to business development.

Resources

External Resources

Books

  • "Life is Luck" by John Morgan - Mentioned as a forthcoming book with the thesis that luck plays a significant role in success, with paperboys and papergirls being examples of those born with an entrepreneurial seed.

Articles & Papers

  • "The Sales Evangelist" (Podcast) - Mentioned as a podcast hosted by Donald Kelly that interviews sales experts for actionable insights and motivation.

People

  • John Morgan - Guest, described as America's richest lawyer, entrepreneur, and author.
  • Sam Parr - Host, co-founder of "My First Million" podcast.
  • Shaan Puri - Host, co-founder of "My First Million" podcast.
  • Warren Buffett - Mentioned for his views on luck, paper routes as entrepreneurial training, and his investment strategy with Berkshire Hathaway.
  • Jeff Bezos - Mentioned as an example of someone who had a paper route and possessed an entrepreneurial seed.
  • Sam Walton - Mentioned as an example of someone who had a paper route and possessed an entrepreneurial seed.
  • Walt Disney - Mentioned as an inspiration for branding and entrepreneurial spirit, and for his work at Walt Disney World.
  • P.T. Barnum - Mentioned as an inspiration for promotion and entertainment business models.
  • Larry Ellison - Quoted on having "necessary disadvantages" as a catalyst for success.
  • Bill Gates - Mentioned for his views on focus and his success with Microsoft.
  • Elon Musk - Mentioned for popularizing the concept of "first principle thinking."
  • Aristotle - Mentioned as the teacher of "first principle thinking" to Elon Musk.
  • Johnny Cochran - Mentioned as a former participant in the Mass Torts Made Perfect trade show, helping map out national strategies.
  • Walter Payton - Mentioned as an example of a "racehorse" in business, referring to consistent high performance in critical moments.
  • Lamar - Mentioned as the company to which John Morgan sold his billboard company.
  • Mark Hulsey - Mentioned as someone who helped John Morgan get his first job out of law school.
  • Vance - Mentioned as a friend who initially appeared in John Morgan's advertisements.
  • Obama's team (Teddy Goff, Gellen Kriegel) - Mentioned in relation to John Morgan's vision for a "Google law firm."
  • Fortress - Mentioned as an investor in Litify.
  • Esquire Bank (Board Member) - John Morgan sat on the board of this bank for lawyers.
  • Tiger Capital - Mentioned as an investor in Litify.
  • Besmer - Mentioned as the entity to which Litify was sold.
  • Donald Kelly - Host of "The Sales Evangelist" podcast.

Organizations & Institutions

  • My First Million (Podcast) - The podcast where the discussion took place.
  • HubSpot - Mentioned as the producer of the "My First Million" podcast and as a customer platform for business data.
  • Wonderworks - An attraction business founded by John Morgan, described as an upside-down house.
  • Alcatraz East - A crime and punishment museum attraction founded by John Morgan.
  • Morgan & Morgan - A large law firm founded by John Morgan.
  • The John Morgan School of Branding - Mentioned as a concept related to John Morgan's branding strategies.
  • Downtown Flavortown - An entertainment venue concept by John Morgan, described as "Dave & Buster's meets Guy Fieri."
  • Google - Mentioned as an inspiration for John Morgan's "Google law firm" concept and as a defendant in a case.
  • Uber - Mentioned as a partner firm for the "Google law firm" concept and as a metaphor for referring cases.
  • Litify - A tech company for lawyers, co-founded by John Morgan, built on Salesforce.
  • Practice Made Perfect - An ad agency for lawyers founded by John Morgan, which was sold.
  • Mass Torts Made Perfect - A trade show for lawyers, a play on "Practice Made Perfect."
  • New England Patriots - Mentioned as an example team in sports discussions.
  • Pro Football Focus (PFF) - Mentioned as a data source for player grading.
  • Ripley's - Mentioned in relation to the origin of the upside-down building concept for Wonderworks.
  • Walt Disney World - Mentioned as a place where John Morgan worked and as an inspiration for attractions.
  • Exploratorium in San Francisco - Mentioned as a source of inspiration for interactive exhibits at Wonderworks.
  • Berkshire Hathaway - Mentioned in relation to Warren Buffett's investments.
  • Amex - Mentioned as one of Berkshire Hathaway's key stocks.
  • Coca-Cola - Mentioned as one of Berkshire Hathaway's key stocks.
  • Apple - Mentioned as one of Berkshire Hathaway's key stocks.
  • Mercury (mercury.com) - A financial technology company for businesses, used by Shaan Puri.
  • Hampton (joinhampton.com) - A platform mentioned by Sam Parr.
  • Ideation Bootcamp (ideationbootcamp.co) - A resource mentioned by Sam Parr.
  • Copy That (copythat.com) - A resource mentioned by Sam Parr.
  • Join Hampton (joinhampton.com/wealth) - A wealth survey mentioned by Sam Parr.
  • Sam's List (samslist.co) - A resource mentioned by Sam Parr.
  • Lamar - Company to which John Morgan sold his billboard business.
  • Dave & Buster's - Mentioned as a comparison for the "Downtown Flavortown" concept.
  • Guy Fieri - Mentioned in relation to the "Downtown Flavortown" concept.
  • J.C. Penney - Mentioned in relation to repurposing a mall location.
  • Bass Pro Shops - Mentioned as an example of a successful business in a mall outparcel.
  • Venetian - Mentioned for its use of illusions and water features.
  • Six Flags - Mentioned as an example of a theme park facing challenges due to declining attendance.
  • Willy Wonka - Mentioned as a character requiring intellectual property rights, contrasted with Santa Claus.
  • Bellagio - Mentioned for its hourly shows.
  • Santa's Chocolate Factory - A proposed attraction concept by John Morgan.
  • Encanto - Mentioned in relation to entertainment concepts.
  • The Sales Evangelist (Podcast) - Mentioned as a podcast about sales.

Tools & Software

  • Blackberry - Mentioned as an early mobile device that introduced John Morgan to the concept of URLs.
  • Salesforce - The platform on which Litify was built.

Websites & Online Resources

  • clickhubspot.com/trm - A link provided for a "side hustle ideas database."
  • x.com/theSamParr - Sam Parr's social media profile.
  • x.com/ShaanVP - Shaan Puri's social media profile.
  • x.com/JohnMorganESQ - John Morgan's social media profile.
  • wonderworksonline.com - Website for Wonderworks.
  • alcatrazeast.com - Website for Alcatraz East.
  • forthepeople.com - Website for Morgan & Morgan.
  • litify.com - Website for Litify.
  • pmpmg.com - Website for Practice Made Perfect.
  • mtmp.com - Website for Mass Torts Made Perfect.
  • shaanpuri.com - Shaan Puri's personal website.
  • somewhere.com/mfm - A link for hiring worldwide talent.
  • mercury.com - Website for Mercury, a financial technology company.
  • joinhampton.com - Website for Hampton.
  • ideationbootcamp.co - Website for Ideation Bootcamp.
  • copythat.com - Website for Copy That.
  • joinhampton.com/wealth - Website for Hampton Wealth Survey.
  • samslist.co - Website for Sam's List.

Other Resources

  • Capital Men - A concept discussed by Sam Parr, referring to individuals who follow processes and execute without overthinking.
  • First Principle Thinking - A concept popularized by Elon Musk and taught by Aristotle, involving deconstructing assumptions to their fundamental truths.
  • "Fish first, fish fast" - A business strategy mentioned by John Morgan, referring to quickly acquiring cases.
  • "Bullets before bombs" - A business strategy mentioned by John Morgan, advocating for testing and piloting before large-scale investment.
  • "Sell the sizzle, not the steak" - A promotional slogan mentioned by John Morgan.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
  • "What would Google do?" - A guiding question used by John Morgan for business decisions.
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