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    • The profitability and success of starting an agency lies in offering unique services that meet the demand in the market.Starting an agency can be profitable by offering unique services that are in demand, while establishing yourself as an expert in a specific area to attract clients and provide valuable services.

      Starting an agency can be a profitable and viable business model, especially if you can identify a niche or a gap in the market. Sam Parr and Shaan Puri discuss how agencies can provide an opportunity to earn money while learning and gaining experience. The key is to offer unique services that are in demand, such as influencer marketing or YouTube optimization. It's important to establish yourself as an expert in a specific area to attract clients, even if you start with small retainers. As your reputation grows and you deliver results, larger companies may be willing to work with you. Ultimately, the success of an agency lies in providing valuable services that meet the needs of clients.

    • Maximizing Revenue through Retainer Fees and Diversification StrategiesAgency owners can boost their income by securing lucrative retainer fees from big brands and exploring alternative revenue streams like developing their own products and investments.

      Agencies can generate significant revenue by working with big brands on retainer fees. These fees can range from thousands to millions of dollars per year, covering a wide range of services such as strategy, creative development, production planning, and social media management. High-end agencies are able to secure millions in retainer fees from Fortune 500 brands. Profit margins for agencies typically aim to be around 15 to 25%, with 25% considered good. Agency owners and partners can derive their income from this profit. However, some agencies are diversifying their business models by developing their own products or investing off balance sheet. This allows them to create additional revenue streams and potentially acquire the brands they work with.

    • The Evolution of the Agency Model: From Brand Building to D2C ExpertiseThe rise of D2C has given birth to a new generation of agencies, focused on Facebook ads and software development. However, balancing client needs and scaling up can be challenging in this model. Consider a distributed workforce for cost efficiency.

      The agency model has evolved, with two distinct generations emerging. The classic agency model focuses on big brand equity building work and retaining clients. However, the rise of D2C has led to a new generation of agencies, comprised of entrepreneurial individuals with expertise in selling and running Facebook ads. These agencies are more flexible, expanding into building intellectual property and software. However, there are downsides to this model, as it relies on selling people's time and balancing different client needs. Scaling up also presents challenges in efficiently placing and selling people's time. Additionally, winning business through pitches can be demanding and time-consuming. While being in proximity to brands and talent in places like New York is advantageous, a distributed workforce model may eventually be necessary due to high overhead costs.

    • The Future of TikTok and Emerging Trends in Short-Video PlatformsStaying updated on emerging trends and exploring alternative platforms can lead to profitable opportunities and meaningful connections in the online world.

      TikTok is currently a hot trend in the social media and live streaming gaming space. Despite concerns over potential bans and the inability of American software to enter the Chinese market, TikTok's format and concept are likely to continue even if it were to disappear. There are also alternative platforms like Triller and Firework that are gaining popularity. This suggests that the short-video format is here to stay and has the potential to expand further. The interview with Daniel highlights the importance of staying aware of emerging trends and exploring different avenues for generating profit. It also emphasizes the value of internet connections and the ability to build real-world friendships through online interactions.

    • Empowering Individuals to Start Their Own CompanyPioneer's platform identifies promising individuals, creates companies for them, and provides funding and support, aiming to tap into untapped potential and foster growth and innovation in society.

      Shaan Puri's company Pioneer serves as a platform for people to experiment with their ideas and potentially start their own company. The goal is to encourage more startups and fewer large companies in order to foster growth and innovation in society. Pioneer scours the internet using psychometrics and machine learning to identify promising individuals and then creates a company for them on the spot, providing funding and support. This approach aims to tap into the untapped potential of individuals who may have had fleeting thoughts or ideas but never pursued them. By generating more founders, Pioneer hopes to contribute to a world with a greater number of startups and a broader range of technological advancements.

    • From Small Beginnings to Great SuccessSmall ideas and projects have the potential to grow into something significant with time, dedication, and perseverance.

      Successful companies and entrepreneurs often start small and humble before they become big and influential. Take the example of Facebook and SpaceX, which now dominate the tech world, but started as simple projects with limited scope. Similarly, Notion, a popular productivity tool used by many companies in Silicon Valley, began as a small idea that took years to develop into a successful product. It's a reminder that even the most successful ventures have humble beginnings and face doubts along the way. So, if you have a small idea or project that you believe in, don't underestimate its potential. With time, dedication, and perseverance, it could grow into something significant.

    • The Challenges of Investing in Early Stage StartupsSuccessful investments in early stage startups often require belief in the founder and market opportunity, willingness to take risks, and the understanding that beginnings can be uncertain.

      Investing in the early stages of a startup can be a challenging decision. It often involves a lot of emotional belief in the founder and a clear market opportunity. The investor must decide when to bet on hard signs or take a risk on an unclear area because they believe in the person behind the startup. This is especially possible if the price is low and there's a path forward. Good investments at the beginning are typically unclear, and many successful companies had uncertain beginnings. Starting small and humble is common, and the narrative may be retrofitted later on. Lastly, creating a podcast that allows for brainstorming and discussing ideas with interesting people can be more engaging for listeners than traditional interviews.

    • Success in startup ideas doesn't always require passion but finding business-minded individuals who prioritize making money and having fun.Passion is not always necessary for startup success. Finding business-minded individuals who prioritize profit and enjoyment can lead to success in startup ideas. Constantly generating ideas and keeping an open mind is also valuable.

      It is possible to give someone a startup idea and still have it be successful. The key is to find individuals who are business-minded and seek opportunities to make products better through buying or selling other companies. These individuals are often product agnostic and prioritize making money and having fun over being passionately invested in the idea itself. While solving a real problem and being passionate about it is the ideal scenario, it is not always necessary to achieve success. Additionally, constantly jotting down ideas and training the brain to seek out new concepts is valuable, even if those ideas may not be implemented. However, there is a contrasting view on writing down ideas, as it may cause the brain to stop actively thinking about them.

    • The value of writing down ideas and thoughts.Writing down ideas allows for pattern recognition, best practice discovery, and creative packaging. It prevents loss and serves as a starting point, but finding a balance between fixation and flexibility is crucial.

      It is valuable to write down ideas and thoughts, even if you don't intend to immediately execute on them. Writing them down allows you to recognize patterns, discover best practices, and package ideas in a unique and creative way. While many cool ideas and successful things are not entirely original, they are often a combination of borrowed features and concepts. Writing down your ideas also prevents them from getting lost or forgotten, and it can serve as a starting point for further exploration and development. However, it's important to acknowledge that writing things down can also be limiting, as it solidifies and fixes ideas in a way that may hinder flexibility and adaptation. Therefore, finding a balance between writing and keeping ideas open and fluid is key.

    • Speaker actively involved in angel investing through personal investments and Pioneer venture capital shop.Angel investing involves personal and Pioneer investments, with varying check sizes and a focus on smaller investments with larger volume through Pioneer.

      In short, one big takeaway from this conversation is that the speaker, referred to as "3," is actively involved in angel investing through both personal investments and through Pioneer, a venture capital shop powered by software. While they have invested a significant amount of money, it has not yet returned all of it, though they have had some returns. The average check size for personal investments varies, ranging from $20,000 to $1,000,000, and even into the tens of millions for larger companies. However, the investments made through Pioneer are smaller in size but larger in total volume, with the company investing in about ninety people last year. Overall, angel investing can be a complex business with various strategies and structures.

    • The Role of Asset Allocation and Selection in Investment StrategiesSuccessful investment strategies require careful asset allocation and selection pressure. While personal traits and preferences may impact efficiency, satisfaction can be found in working closely with a small number of deals. Legendary investors like Mike Moritz stand out for their picking ability, and underrated markets offer opportunities for success. As Pioneer gains popularity, it becomes harder to stand out, just like prestigious brands face challenges.

      Asset allocation and selection pressure play key roles in the success of investment strategies. Sam Parr acknowledges that he may not be as efficient as other investors due to his pioneer mindset and introverted nature. However, he finds satisfaction in closely working with a small number of deals, allowing him significant ownership in the organizations. While there are many great angel investors and investing platforms, Mike Moritz stands out for his legendary picking ability and board support. In terms of investment themes, Parr expresses skepticism towards the overhyped "no code" market but emphasizes the importance of underrated markets that offer free selection pressure. As Pioneer gains popularity, it becomes increasingly difficult to stand out, similar to the challenges faced by prestigious brands like Harvard.

    • The Rise of RPA and UiPath in the Enterprise Software MarketUiPath's success in the RPA industry is attributed to its focus on automation process improvement, software innovation, and effective sales strategies, emphasizing the significance of a strong sales team for enterprise startups.

      RPA (Robotic Process Automation) and UiPath, in particular, have become significant players in the enterprise software market. RPA is essentially a way to automate repetitive tasks by creating macros that mimic human actions on a computer. UiPath, a European company funded by Sequoia and others, has emerged as a leader in this space, with a valuation of $7 billion. However, the macros created by RPA can be brittle and require manual intervention to improve their effectiveness. This is where UiPath stands out by employing engineers to fine-tune the automation process. Moreover, UiPath's success lies not only in its software innovation but also in its sales machinery and channel sales strategy. This highlights the importance of a strong sales team in enterprise startups, as demonstrated by Salesforce.

    • The Rise of No Code Software and Its Potential Impact on Traditional Software ConsultingThe increasing popularity of no code software could disrupt the traditional software consulting industry, but it's important to carefully evaluate investment opportunities and consider other emerging technologies and industries for starting a successful company.

      The popularity of no code software is growing rapidly and it has the potential to disrupt traditional software consulting and revenue models. Although some may find it comical or dismiss it as a meme, the sheer number of smart individuals working on this problem indicates that something significant will emerge. The market for no code software is vast, with the potential to eat away at industries like software consulting. However, it's important to note that popularity doesn't necessarily translate into investment opportunities. Other emerging technologies like radar companies may offer interesting solutions, but they may require significant capital investment and face regulatory challenges. Finding a niche where you can be at the forefront of a technology or industry can be valuable in starting a successful company.

    • Identifying and Addressing Broken Systems in Large Enterprise CompaniesBy immersing oneself in a large enterprise company, individuals can gain firsthand knowledge of broken processes and inefficiencies, offering an opportunity to create innovative software solutions to fix these issues.

      There is a significant opportunity in building software solutions for broken systems within large enterprise companies. Many people are unaware of these problems, resulting in a lack of software built to address them. The key is to immerse yourself in a large enterprise company and observe the broken processes and inefficiencies firsthand. By doing so, you can identify the number one issue and start a company to fix it. This experiential, painful understanding of the problem will drive you to create innovative solutions. Additionally, creating an import-export list within the company can help identify problems that need external solutions and internal hacks that can be packaged for other companies. Overall, there are vast possibilities for building valuable software in the enterprise software space.

    • Utilizing internal stock ranking and sharing ideas for performance evaluation and problem-solving in large companiesRecognizing the value of internal stock ranking and sharing ideas as tools for evaluation and problem-solving can improve performance and address unmet enterprise needs.

      Internal stock ranking is a valuable tool for identifying top performers, but it is not commonly used or liked by employees in large companies. However, it can still be applied across different areas to evaluate performance. Another takeaway is that sharing startup ideas does not necessarily mean giving someone a specific idea to execute, but rather providing inspiration and starting points to help them explore related problems and find their own unique solutions. Additionally, there is a need for more focus on unmet enterprise needs, particularly in areas like sales, where tools like org charts can greatly assist in the selling process. By recognizing these takeaways, individuals and teams can better understand the potential benefits and challenges in their respective industries.

    • Untapped Opportunities in Industry-Specific PlatformsBuilding industry-specific platforms that offer unique services can attract a targeted audience and generate substantial revenue by providing innovative alternatives and incentivizing user engagement.

      There are untapped opportunities in building industry-specific platforms that offer unique services. For example, creating an org chart as a service could potentially become the next LinkedIn. The key to success would be to incentivize employees to fully update their profiles, just like they do on LinkedIn. Another opportunity lies in creating a website like ScienceHub, which acts as a Napster for research papers. By providing a better alternative with all the research papers available, one could potentially have the highest intellectual under management website. Furthermore, there is a need for a better version of Goodreads, where reading material can be shared and discussed in a more multiplayer environment. These niche platforms have the potential to attract a targeted audience and generate substantial revenue.

    • Meeting the Specific Needs of High-End Customers with Better Software SolutionsOffering high-quality software at a premium price and creating dedicated apps to streamline communication can be valuable in meeting the specific needs of high-end customers and niche online communities.

      There is a need for better software solutions that cater to high-end customers and their specific needs. Examples like Superhuman, a luxury email client that charges $20 per month, show that there is potential for success in offering high-quality software at a premium price. Additionally, there is a demand for messaging apps that streamline communication between individuals and their admins, especially in professional settings. The oversaturation of messaging channels makes it difficult to keep track of important information, and a dedicated app that simplifies this process could be a valuable offering. Furthermore, there are opportunities for improved software in niche online communities such as flyerTalk and let's run.com, where outdated platforms can be replaced with more modern solutions.

    • The importance of software quality, community strength, and network effects in platform successStrong software, a thriving community, and leveraging network effects are vital for platform success, but maintaining high-quality offerings is essential to prevent user dissatisfaction.

      The quality of software and the strength of a community are crucial factors in determining the success of a platform. While a strong community can make up for subpar software, it's ideal to have both elements working well together. Additionally, the power of network effects and migration between platforms should not be underestimated. Building a better experience can attract users, but it requires reaching a critical tipping point where the decay of the previous platform begins. However, it's important to note that large companies may prioritize revenue over maintaining high-quality software, leading to a decline in user satisfaction. Therefore, it's essential for businesses to continually focus on improving their offerings to avoid this trend.

    • The Power of Brand Trust and Customer LoyaltyBuilding a trusted brand in a specific domain can provide a valuable alternative to Google and Amazon, helping businesses gain credibility, attract celebrity endorsements, and achieve customer loyalty.

      Building a trusted brand in a specific domain can be highly effective in creating customer loyalty. This can be seen in the decline of trust in Amazon reviews and the dominance of Google search results filled with ads. Creating a brand that customers trust and rely on for information and recommendations can provide a valuable alternative to these platforms. By focusing on one particular domain and nailing it, businesses can establish themselves as a go-to source, gaining credibility and potentially attracting celebrity endorsements. Though relying on Google or Amazon can be risky, building a brand that becomes a destination in itself can help businesses stand out and gain customer loyalty.

    • Establishing Yourself as the Ultimate Destination for Online CustomersSpecialize in a specific vertical, curate top products, cater to niche markets, and prioritize value and exceptional experiences to become the go-to destination for online consumers.

      Becoming a destination in the minds of consumers is crucial for success in the online marketplace. By specializing in a particular vertical and offering the best products or services in that category, companies can establish themselves as the go-to destination for customers. This can be achieved by curating and curating top picks in a specific area, ensuring that they are the best of the best. Additionally, catering to high-end, luxury markets can be a lucrative strategy, targeting a niche audience and providing specialized content and products. Ultimately, the key is to focus on value and delivering exceptional experiences to customers, whether it's through unique offerings, superior quality, or expert recommendations.

    • Adapting to cultural shifts for brand success.Brands must stay aware of and adapt to changing consumer needs and preferences in order to remain relevant and appealing in the market.

      Successful brands and companies understand the importance of recognizing cultural shifts and adapting accordingly. They look for a "sea of sameness" in the market and find opportunities to stand out by meeting the changing needs and preferences of consumers. For example, Method saw the shift towards a focus on ingredients in cleaning products and capitalized on it. Snapchat recognized the desire for private and temporary content in a world of permanent social media and became a major threat to Facebook. Luxury brands should consider redefining luxury experiences for younger generations who prioritize experiences over material goods. Additionally, companies like Uber and Postmates offer Millennial Luxuries by providing hyperconvenience. By staying attuned to cultural shifts, brands can stay relevant and appeal to changing consumer desires.

    • Meeting the Needs of Innovators and Creators: A New Laptop and Messaging PlatformUnderstanding and catering to the unique needs and preferences of specific target audiences is essential for success in the market.

      There is a potential market for a new laptop that caters specifically to innovators, creators, founders, and developers. This laptop would have built-in LTE for wireless connectivity and a long-lasting battery. It would also prioritize fast and efficient performance, with a focus on auto-complete features. While this laptop may not appeal to the masses, it could find a niche market in cities like New York and San Francisco, where it would be the go-to device in coffee shops and other workspaces. Additionally, there is a growing dissatisfaction with messaging apps like Slack, indicating an opportunity for a new messaging platform that offers a different community and vibe. Overall, the key takeaway is to identify and cater to specific target audiences and address their unique needs and preferences.

    • Venture funding vs. debt funding: Choosing the right financial path for your businessUnderstand that venture funding is not the only option for business growth. Consider debt funding or retaining a larger share of the business for a more fulfilling entrepreneurial journey.

      There are two different worlds when it comes to starting and growing businesses. On one hand, there are startups that aim for hyper-growth and domination of their market, often fueled by venture funding. These startups focus on relentless growth and aim for tectonic scale. On the other hand, there are traditional businesses that may start small and grow over time, without the pressure to achieve massive growth. Startups and traditional businesses both have their merits, but it's important for founders to understand that venture funding may not be the right financial instrument for every business. Sometimes, taking debt funding or owning a larger share of the business can lead to a happier and more fulfilling entrepreneurial journey. Ultimately, successful businesses come in various forms, and it's crucial to choose the path that aligns with your goals and aspirations.

    • The Impact of Remote Work on Real Estate and CitiesEmbracing remote work policies can transform cities by creating opportunities for smaller towns to become startup hubs, leading to economic growth and job creation.

      Remote work has the potential to drastically change the real estate market and the economic landscape of cities. As more companies embrace remote work policies, there will be a shift in the demand for housing and office spaces. This presents opportunities for smaller cities and towns to position themselves as startup hubs by attracting startups and tech companies. To do this, cities should focus on creating an environment that is conducive to startups and venture capital investment. By offering incentives, building infrastructure, and fostering a supportive ecosystem, cities can attract tech companies and talent. In turn, this can lead to economic growth and job creation, making these cities more attractive to investors.

    • Creating Special Economic Zones for Innovation and DevelopmentSpecial economic zones, both physical and digital, can drive innovation and attract talent by providing a conducive environment for experimentation and development, similar to the pioneering days of research.

      The concept of special economic zones, where companies and innovators can have more freedom to experiment and advance in various fields, can attract significant talent and drive innovation. The internet itself can be seen as the ultimate special economic zone, where one can pretty much do whatever they want, but in the physical world, regulations pose challenges. Creating special economic zones in specific physical locations, such as cities or countries, could foster a similar environment for experimentation and development. This approach has been successful in the crypto industry, attracting innovators to certain regions. Applying this model to cities and countries could accelerate progress and encourage risk-taking, similar to how it was during the pioneering days of research in the past.

    • The challenges of growing cities and the risk of getting caught in a "status trap".Cities face difficulties in implementing changes due to expensive and complicated infrastructure. Prioritizing tangible value and revenue generation is essential over seeking intellectual approval and social media validation.

      Cities, like startups, can face challenges as they grow and become more established. The conversation highlights the difficulty of making changes in established cities like Manhattan, where infrastructure projects are incredibly expensive and complicated. Cities can be compared to large organisms, with many interconnected systems that make it harder to implement new ideas and innovations. Additionally, there is a risk of getting caught in a "status trap," where people prioritize seeking intellectual approval and social media validation over creating tangible value and generating revenue. The focus should be on building something useful for people and chasing revenue, rather than getting caught up in the infinite pursuit of status.

    • Shifting Perspectives: Performing for Ourselves and Those That Truly MatterPerform for yourself and a select few who have achieved success in areas you admire, rather than seeking validation from the masses. Find your true motivations and perform in a way that leads to a more fulfilling journey.

      It is important to identify who we are performing for in our lives and careers. Early on, many of us perform to seek validation from others such as our parents, bosses, or successful mentors. However, as we grow and evolve, our perspective on this may shift. The goal should be to perform for ourselves and those few individuals who have achieved success in areas we admire. It is not about seeking the attention and approval of the masses, but rather benchmarking ourselves against the expectations and opinions of those who truly matter to us. Understanding our true motivations and finding the right way to perform, whether through sharing ideas or focusing on career success, can lead to a more fulfilling and meaningful journey.

    • Measure success through action and meaningful contributions, not just words.Success is determined by the usefulness, importance, and interest of one's work or investments, while the strongest friendships are formed through collaboration and creation.

      Success is not determined by nice tweets or jokes, but by creating something successful, like being a captain of a successful ship. The key to measuring success, regardless of who you are performing for, is whether your work or investments are useful, important, and interesting in the world of money. This means taking more action and focusing less on captions or words. Building on the idea of creating, the strongest and best friendships are those formed through collaboration and creation, rather than just consuming together. So, when choosing friends, seek out those with whom you can build and create, as they often lead to the most fulfilling relationships.

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    Episode 592:  Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) break down the economics of luxury hobby magazines, make a prediction about Ai cameras, and explain how to find the next tech wave.  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) Craig Fuller's field of dreams (5:12) $50M side hustle (9:16) We call to find out EXACTLY how he did it (19:02) The New York Times is a gaming company (23:27) Idea: Third party LinkedIn games developer (27:00) How rich people spend money (29:00) The myth of the second home (30:57) Ai cameras (36:31) Prediction: A camera on every field, every court (38:31) How to find the next wave: What's the next menus on the internet? (40:41) How to avoid product obsolescence (44:09) "Measure twice. Cut once" — Links: • FreighWaves - https://www.freightwaves.com/ • FLYING Magazine - https://www.flyingmag.com/ • Firecrown - https://firecrown.com/ • Veo - https://launch.veo.co/ • Grab HubSpot's free AI-Powered Customer Platform and watch your business grow - https://clickhubspot.com/fmf — 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 — 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 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
    My First Million
    enJune 03, 2024

    He Turned $300/mo Into $3,750,000/mo From GARDENING

    He Turned $300/mo Into $3,750,000/mo From GARDENING
    Episode 591:  Sam Parr ( https://twitter.com/theSamParr ) talks to Kevin Espiritu ( https://x.com/KevinEspiritu ), AKA The Plant Daddy, about how he turned a side hustle into a $45M business in his backyard. — Show Notes: (0:00) Intro (3:41) $250k playing online poker (6:04) The influence of Pat Flynn (7:43) Cocoa butter cream review site (8:30) Printing on-demand shirts (12:26) From Scribe to $300/mo gardening blog (15:06) Inflection point: The metal raised bed (17:42) Billion-dollar blogs (19:20) Life-changing money (23:56) 5 Languages of the love of money (26:47) Lessons from Ramit Sethi (28:25) Path to $100M through acquisitions (29:19) Buying a seed tray business for less than $500K (33:22) Buying a competing gardening blog (37:00) Acquiring Botanical Interests (42:16) Red and green flags in acquisitions (46:12) The danger of being a celebrity on the internet (48:45) Idea: Branded hybrid plant species (52:38) Floyd Zaiger, the godfather of licenced plants (57:26) The lie behind Blue Zones (1:00:12) The Tesla of chicken coops (1:00:53) Beekeeping (1:04:46) Choosing your hobbies wisely — Links: • Kevin on Youtube - https://www.youtube.com/@kevinmespiritu • Epic Gardening on YouTube - https://www.youtube.com/@epicgardening • The Chernin Group - https://tcg.co/ • The Billion Dollar Creator - https://nathanbarry.com/billion/ • Get HubSpot's Free AI-Powered Sales Hub: enhance support, retention, and revenue all in one place https://clickhubspot.com/sym — 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
    My First Million
    enMay 31, 2024

    How This Ex-Navy SEAL Turned A Book Into A $1M+ Empire - Jack Carr

    How This Ex-Navy SEAL Turned A Book Into A $1M+ Empire - Jack Carr
    Episode 590:  Sam Parr ( https://twitter.com/theSamParr ) talks to #1 New York Times bestselling author Jack Carr ( https://twitter.com/JackCarrUSA ) about how he churns out hit after hit and what the SEALs has taught him about hardship, mission readiness, and hitting targets.  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) Intro (1:15) Launching a book how Red Bull launches a drink (7:30) 6 books in 6 years (9:41) Manifesting success from age 11 (11:36) Defining your own calculus (13:35) Lessons from Mr Ballen and other SEALs (15:23) Made-to-stick branding (19:44) How to build an audience today (24:10) The writing and launch process (26:11) Master the one-pager (28:43) Anti self-publishing (30:03) Modern masculinity in America (33:26) Creating a rite of passage (37:27) Voluntary hardship (39:36) Manifesting Chris Pratt (44:51) Hitting your mission (48:38) Jack's recommended reading list — Links: • Jack Carr - https://www.officialjackcarr.com/ • Made to Stick - https://tinyurl.com/2rumfmjw • The Comfort Crisis - https://tinyurl.com/y5wfjnfz • The Terminal List - https://tinyurl.com/2cvvmtfx • The Successful Novelist - https://tinyurl.com/4ba29jtn • The Hero with a Thousand Faces - https://tinyurl.com/2bnmxua4 • Get HubSpot's Free AI-Powered Sales Hub: enhance support, retention, and revenue all in one place https://clickhubspot.com/sym — 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 • Pitch your startup for a shot at a $1M investment with Sam Parr as the MC https://clickhubspot.com/pitch — 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
    My First Million
    enMay 29, 2024

    How To Master Storytelling

    How To Master Storytelling
    Episode 589:  Shaan Puri ( https://twitter.com/ShaanVP ) sits down with David Perell to reveal every framework he knows to become a better storyteller, a better writer, and a better creator of binge-worthy content. This episode was originally recorded for the podcast “How I Write,” hosted by David Perell. —> https://www.youtube.com/watch?v=Z2BnqYArwaw 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) Intro (3:16) Binge bank (6:03) Storytelling (8:05) Intention & Obstacle (14:22) Hasan Minhaj (15:53) Writing vs Speaking (18:06) Pacing (19:01) Hooks vs Frames (22:30) Viral tweets (26:49) MrBeast (27:26) Storyworthy (29:10) 5-second moment of change (32:02) Origin Stories (42:07) Tony Robbins (43:25) Transformations (44:12) Steven Bartlett (46:17) Viral videos (49:09) Miss Excel (56:04) Change your state & focus (58:31) Paul Graham (1:03:43) Advice to writers (1:06:53) Writer's voice (1:11:48) Dave Chappelle vs Netflix (1:18:18) Distribution (1:21:40) Twitter / X (1:32:34) Writing with humor (1:45:02) Newsletters — Links: • Write of Passage - https://writeofpassage.com/ • David on Twitter - https://twitter.com/david_perell • David’s Website - https://perell.com/ • David Perell on YouTube - https://www.youtube.com/channel/UC0a_pO439rhcyHBZq3AKdrw • David’s Podcast - https://writeofpassage.com/how-i-write • Get HubSpot's Free AI-Powered Sales Hub: enhance support, retention, and revenue all in one place https://clickhubspot.com/sym — 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 — 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 • Pitch your startup for a shot at a $1M investment with Sam Parr as the MC https://clickhubspot.com/pitch 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
    My First Million
    enMay 27, 2024

    How Gary Vee Predicts The Next Facebook (Every Time)

    How Gary Vee Predicts The Next Facebook (Every Time)
    Episode 588:  Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) chop it up with Gary Vee about which of his investments paid off the most, how much cash he keeps as a safety net and what he’s noticed from hanging out with people like Logan Paul, Zuck, and MrBeast.  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) Intro (1:28) Good news for the “C” students out there (5:31) Break the Web (8:12) Attention is the only universal asset class (12:26) Perplexity.ai/podcast (14:30) Alex Schultz on growth and language translation (16:23) Adult camps better than conferences (20:06) Millionaires v billionaires (25:44) Planning for a post-iPhone world (28:43) Gary's safety net (31:41) Micro v macro gratitude (37:45) Gary's best investment (39:08) Gary's take of Zuck, Logan Paul (45:44) Who Gary admires — Links: • Gary Vaynerchuk - https://garyvaynerchuk.com/ • Gary on Twitter - https://twitter.com/garyvee • Day Trading Attention - https://tinyurl.com/yckc8erw • Break The Web - https://www.breaktheweb.co/ • Lecture 6 - Growth - https://www.youtube.com/watch?v=n_yHZ_vKjno • Get HubSpot's Free AI-Powered Sales Hub: enhance support, retention, and revenue all in one place https://clickhubspot.com/sym — 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 • Pitch your startup for a shot at a $1M investment with Sam Parr as the MC https://clickhubspot.com/pitch — 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
    My First Million
    enMay 22, 2024

    A Masterclass On Hiring A CEO To Run Your Company ft. Andrew Wilkinson

    A Masterclass On Hiring A CEO To Run Your Company ft. Andrew Wilkinson
    Episode 587:  Andrew Wilkinson ( https://twitter.com/awilkinson ) teaches the exact step-by-step process he uses to find, diligence, hire, and transition a great CEO.  Get Andrew’s CEO Hiring Guide and Checklist - https://tinyurl.com/ms8938kn — Show Notes: (0:00) Intro (1:36) Why you need a CEO (4:44) The third door: leave the business, keep the cash flow (8:48) Get back to your flow state (10:46) Step 1: Are you ready to hire a CEO? (15:16) Is this going to hurt my business? (16:46) Step 2: Find the RIGHT CEO (17:52) Hiring a recruiter (21:34) Look for a #2 with the right hammer (23:23) Be a collector of people (27:14) Step 3: Diligencing the candidate (28:48) Green flags, yellow flags, and red flags (32:21) 2x not 20x (34:41) Step 4: First 100 days (36:35) Don't poison the water (38:12) Flesh wounds not mortal wounds (40:06) Meet them in person (40:29) More on diligencing: Trust but verify (42:38) The DIY path (44:48) Step 5: Negotiating and structuring compensation (46:34) Uncapped bonuses vs equity (49:55) Myth: Is a founder-led business always better? — Links: • Burke and Associates - https://burkeandassociates.com/executive-search/ • Business Intelligence Advisors - https://www.biadvisors.com/ • Never Enough - https://neverenough.com/ — 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 — 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 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
    My First Million
    enMay 20, 2024

    Turning $1M Into $1B+: A Masterclass From The Indian Warren Buffett

    Turning $1M Into $1B+: A Masterclass From The Indian Warren Buffett
    Episode 586: Shaan Puri sits down with Mohnish Pabrai for a rare interview about value investing. Mohnish is sometimes called the "Indian Warren Buffett" for having turned $1M into over $1B+ through stock investing. In this podcast they talk about how founders can become great investors, how to avoid big mistakes, and lessons learned from Buffett & Munger. 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) Intro (1:41) Why entrepreneurs make the best investors (4:130) How Warren Buffett’s pre-paid for his college education (8:45) Becoming Ben Graham’s Protege (12:41) What Buffett learned about branding from See’s Candies (15:45) Buffett’s failed play to be a candy mogul (18:44) Identifying offering gaps (20:22) Getting an MBA at age 14 as the son of an entrepreneur (23:33) The 3 tells of a future millionaire (25:56) Mohnish builds his first product with maxed out credit cards at 24 (27:59) The 168 hour framework (31:13) “Entrepreneurs do not take risks” (32:38) How Richard Branson launches Virgin Atlantic with no money (35:31) How 0.1 percent of the population owns 70 percent of all the motels in America (38:31) The unfair advantage of being a low-cost producer (40:20) How Mohnish turned his first million into $13M in 5 years (43:39) Pabrai Funds grows to $600M in assets in less than 10 years (47:35) What Mohnish knows about fundraising that we don’t (50:26) Pivoting from tech investments in 1999 to value investments (53:13) $2M lunch with Warren Buffett (58:09) Be a harsh grader of people (1:01:53) The Givers, The Takers, and The Matchers (1:04:40) “Heads I win, tails I don’t lose much” (1:09:26) Private markets v public auctions (1:13:35) The #1 trait that makes a great investor (1:15:01) What people of Reddit think of Mohnish Pabrai (1:16:31) Starting capital, annual rate of return, length of runway (1:17:24) The Rule of 72 (1:21:50) Circle the Wagons Philosophy (1:23:35) Losing $3B in one unfortunate event (1:28:49) Be fearful when the world is greedy; Be greedy when the world is fearful (1:29:17) What a value investor thinks of bitcoin (1:30:26) Nick Sleep bets (1:42:30) The Best Of: Capital Allocators — Links: • The Intelligent Investor - https://tinyurl.com/3jmpjrmc • The Dhandho Investor - https://tinyurl.com/53p9bhfv • Mohnish on Twitter - https://twitter.com/MohnishPabrai • Get HubSpot's Free AI-Powered Sales Hub: enhance support, retention, and revenue all in one place https://clickhubspot.com/sym — 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 — 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 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
    My First Million
    enMay 17, 2024

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