Key Takeaways

  • Many genuinely successful companies, like Element (a salt packet business now nearing $200 million in annual revenue), operate outside the mainstream, building value quietly with solid products and marketing fundamentals.
  • Sam Parr advises ambitious founders: If you aim for both riches and fame, focus on getting rich first. Often, the wealth alone satisfies the drive.
  • Renowned investor Nick Sleep's philosophy favors companies that shun promotional activity. Two-thirds of his portfolio invests in firms like Amazon, Costco, Berkshire Hathaway, and Games Workshop, which prove success doesn't require constant shouting or earnings guidance.
  • Shaan Puri makes a provocative claim: “advertising is the price you pay for having an unremarkable product or service,” suggesting truly great products create their own buzz.
  • The "Be King or Be Rich" framework helps you cut through the noise and align your strategic decisions with your actual goal: public recognition or private wealth.

The Be King or Be Rich

This framework helps entrepreneurs align their actions with their true objectives, as the strategies for achieving fame versus wealth can be divergent.

  • Be King: Often the loud ones who raise all this money and do this or that. Focus on fame, visibility, and mainstream attention. This path often involves actions that kings are unwilling to do if the goal is purely wealth.
  • Be Rich: A bootstrap and just quietly do it for a long time. Focus on fundamental profitability, strong products, and building value without necessarily seeking public acclaim or massive advertising budgets.

When This Works (and When It Doesn't)

This framework shines when you're making foundational decisions about your business model, marketing strategy, or even fundraising approach. As the podcasters discussed, asking yourself, “Do you want to be king or you want to be rich? Because they require different things,” helps clarify your path. It's particularly powerful for bootstrapped ventures or businesses where product quality and organic growth can drive significant value, just like Element’s salt packets quietly achieved immense revenue.

However, this framework has its limits. If your business relies heavily on network effects, requires rapid market education, or if public profile is genuinely essential for attracting top-tier talent or specific partnerships, a "Be King" approach might be necessary. Some products, by their nature, might need significant advertising to break through, challenging the idea that advertising always signals an unremarkable product. The key is honest self-assessment of your product and market.

What to Do With This

This week, pull out your current strategic plan or even just your top three priorities. For each item—whether it's launching a new marketing campaign, deciding on a fundraising round, or even refining your product roadmap—run it through the "Be King or Be Rich" framework. Ask: "Does this action primarily aim to generate public attention and build my personal/company brand (Be King), or does it directly contribute to fundamental profitability, product strength, and quiet long-term wealth accumulation (Be Rich)?" If your stated goal is to get rich but most of your energy goes into kingly pursuits like chasing press or social media virality, you've found a misalignment. Adjust your focus to actions that directly build enduring value, even if they aren't glamorous.