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    About this Episode

    The Hustle's My First Million presents: Million Dollar Brainstorm. Host Shaan Puri (@ShaanVP) and The Hustle CEO Sam Parr (@theSamParr) sit down and discuss what side hustles, trends and big business ideas that's keeping them up at night. This week they shoot the sh*t about the no code movement, reinventing fireworks through drone light shows, creating a brand around miniature things, putting tiny houses in your backyard, the huge business of website plugins and social agencies. If you enjoy this and would like a weekly briefing on super in-depth research in these trends, Sam has offered a discount on The Hustle's Trends newsletter, go to https://trends.co/million.  See acast.com/privacy for privacy and opt-out information.

    🔑 Key Takeaways

    • The "no code" movement is transforming the tech industry by providing platforms that enable users to connect apps without coding, simplifying processes and potentially eliminating the need for coding expertise.
    • No code tools streamline tasks, make the developer's job easier, and allow companies to benefit from efficient internal operations without the need for full stack developers.
    • The "no code" movement is revolutionizing the way businesses operate, while drone light shows offer a lucrative and visually appealing alternative to traditional fireworks displays.
    • Small businesses can save money by carefully selecting software, considering alternatives, and utilizing negotiation services, ultimately improving their financial performance.
    • The growing trend towards miniatures offers opportunities for building a powerful brand around minimalism, leveraging social media platforms for marketing, and generating extra income through innovative ideas like renting out tiny homes.
    • By identifying specific areas within larger industries and providing valuable products or services, entrepreneurs can tap into emerging markets and achieve growth and success.
    • Starting a business with a content-based approach allows for engaging with the audience, attracting like-minded individuals, and opening up opportunities for sponsorships and partnerships, while also sparking innovation.
    • Successful agencies can overcome challenges by leveraging their data and audience to launch their own brands, providing a more sustainable and profitable business model.
    • With the right strategy and execution, even small-scale businesses can generate sales and profit by identifying niche markets, taking action, and leveraging effective marketing techniques.

    📝 Podcast Summary

    The Rise of No Code: Simplifying Tech without Coding

    The "no code" movement is gaining momentum and could potentially revolutionize the tech industry. Companies like Zapier and Webflow have already achieved significant success by providing platforms that allow users to connect different apps without coding. This concept is appealing to both businesses and individuals who want to simplify processes and save time. The potential value of these no code companies is staggering, with estimates ranging from hundreds of millions to billions of dollars. The rise of no code has sparked the creation of communities, directories, and even specialized agencies focused solely on this emerging trend. The future of tech could very well be a world where coding expertise is no longer necessary to build powerful applications.

    Revolutionizing internal operations with no code tools like Retool.

    No code tools like Retool can revolutionize the way businesses handle internal operations. These tools provide a solution to the problem of developers having to build admin dashboards that often end up being poorly designed and inefficient. By offering internal admin dashboards as a service, no code tools streamline tasks and make the developer's job much easier. Additionally, companies can benefit from using no code tools even if they don't have a full stack developer on their team. Retool, for example, allows light engineers to set up the dashboard for their company. This shift towards no code technology opens up opportunities for entrepreneurs to start businesses focused on providing no code solutions and consultancy services, promising companies increased efficiency and faster project execution without the need for extra developer resources.

    Embracing the "no code" movement and the rise of drone light shows.

    The "no code" movement is gaining traction and presents new opportunities for businesses. Companies like Webflow, Zapier, and Retool offer a suite of tools that allow teams to operate without relying on developers for assistance. This opens the door for workshops and services that help businesses navigate and utilize these no code tools effectively. Additionally, drone light shows are emerging as a captivating alternative to traditional fireworks displays, offering a modern and visually stunning experience. Investing in a drone light show company can generate quick cash flow, especially considering the popularity and affordability of drones. Furthermore, the possibility of a no code tool for programming drones could make them more accessible to a wider range of users.

    Saving money through smart software selection and recommendations.

    Small businesses can save significant amounts of money by carefully selecting the right software and avoiding unnecessary duplicate subscriptions. Many early-stage companies waste thousands of dollars by selecting software without fully understanding its features or considering alternatives that may already include the required tools. This problem could be solved by a "business back end in a box" concept, similar to Gusto or Zenefits, that offers a suite of essential tools for small businesses. Additionally, content sites could play a crucial role by providing clear recommendations on the best software options, similar to what Wirecutter does for consumer products. This would not only save businesses money but also present an opportunity for content owners to earn affiliate fees for new customers. Alternatively, companies like Vendor are providing negotiation services to help businesses save money on subscription software by managing contracts and securing better pricing. By being more conscious of their software expenses and seeking efficient solutions, small businesses can significantly reduce costs and improve their bottom line.

    Embracing the Mini Trend: A Simplified and Profitable Lifestyle.

    There is a growing trend towards tiny and miniature versions of things, such as cookware and homes. This trend is related to the rising popularity of minimalism and the desire to live a more simplified and compact lifestyle. One key insight from the discussion is the potential to build a powerful brand around the concept of minimalism, catering to various aspects like cookware and housing. Leveraging platforms like YouTube and Instagram, which draw attention with visually appealing content, can be a highly effective way to market these miniature products and attract a large audience. Furthermore, innovative ideas like renting out tiny homes as guest houses can provide an opportunity for individuals to generate extra income. Overall, embracing the mini trend and finding creative ways to make it accessible and profitable can lead to success.

    Uncovering Profits in Niche Markets

    Finding opportunities in niche markets can be highly profitable. By focusing on specific areas within a larger industry, entrepreneurs like Syed and companies like Envato have been able to build successful empires. For example, Syed leveraged his blog WP Beginner to identify popular WordPress themes and plugins, and then either bought or started companies based on those insights. Similarly, Envato created a marketplace for WordPress themes and plugins, capitalizing on the fact that WordPress powers a significant portion of all websites. This approach is also being applied to Shopify, with companies like We Commerce seeking to acquire Shopify plugins. By recognizing emerging markets and delivering valuable products or services, there is still ample opportunity for growth and success.

    Building a business through content creation

    Starting a business with a content-based approach can be a smart and effective strategy. By creating a YouTube channel and documenting his journey, Zack is able to engage with his audience and build a following of people who can relate to his experiences. This method of being a "curious beginner" allows him to share his knowledge and experiences in real-time, attracting others who are also seeking solutions. This content not only resonates with his target audience but also opens up potential opportunities for sponsorships and partnerships. Additionally, this approach can lead to the development of innovative products or services based on the insights gained from the content creation process.

    The Challenges of Sustaining an Agency Model

    While agencies like the one described may seem impressive from the outside, they can be challenging to sustain internally. The agency model can be problematic due to constantly changing advertising channels, the need for continuous creativity, and the complex nature of working with clients. Agencies often have to fight for clients and don't accumulate much value over time. However, what sets some successful agencies apart is their ability to leverage their own data and audience to create their own products. By using their insights and audience demographics, agencies can identify opportunities to launch their own brands that align with the interests of their followers. This alternative approach could potentially provide a more sustainable and profitable business model.

    Achieving Success and Profitability with a Simple Idea and Effective Marketing Techniques

    Starting a business or pursuing a profitable venture may not always require a significant investment or extensive advertising. The example of the airplane cocktail kit shows that with a simple idea, creative marketing, and a bias for action, it is possible to generate sales and profit. This entrepreneur saw a gap in the market and quickly purchased a domain related to airplane cocktail kits. By leveraging Instagram ads and creating an appealing brand image, he could potentially sell $10,000 worth of products in a month. This demonstrates that with the right strategy and execution, even small-scale businesses can achieve success and profitability. It highlights the importance of identifying niche markets, taking action, and utilizing effective marketing techniques to drive sales.

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    The AI App Doing $6M With 1 Employee

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    Episode 579: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) talk about 3 niche trends they’ve found that are guaranteed to make $1M+. Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5 — Show Notes: (0:00) Shaan gets his hotness score (2:30) Reddit trend leads to $6M ARR beauty app for men (10:12) Male nail care influencers (12:42) Sam upstages Shaan's beauty score (14:00) Spin-off businesses: Med Spas (16:00) Aging influencers and modern male grooming products (20:27) The story of Teflon and Dupont's billion dollar problem (22:49) Forever chemicals are in our water (26:14) Pfas free products (29:12) A regulatory inflection point is here (33:16) Trend: Assassins with water guns (34:32) $0 - $250K MRR app (35:22) Playground virality (38:00) Trading expertise for social vouching (49:10) Exporting a profitable internal tool — Links: • Umax - https://tinyurl.com/mezh49ac • Acqua Pana - https://www.acquapanna.com • MAMAVATION - https://www.mamavation.com • Splashin - https://www.splashin.app • Splashin TikTok - https://www.tiktok.com/discover/splashin-app — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. — Other episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto • #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • ​​​​#218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More