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    About this Episode

    Episode 513: Shaan Puri (https://twitter.com/ShaanVP) answers the question he gets most often: If he was starting from scratch—and had no money in the bank—how would he make $1,000,000? Want to see more MFM? Subscribe to our YouTube channel here. Want MFM Merch? Check out our store here. Want to see the best clips from MFM? Subscribe to our clips channel here. — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com/ Check Out Shaan's Stuff: • Try Shepherd Out - https://www.supportshepherd.com/ • Shaan's Personal Assistant System - http://shaanpuri.com/remoteassistant • Power Writing Course - https://maven.com/generalist/writing • Small Boy Newsletter - https://smallboy.co/ • Daily Newsletter - https://www.shaanpuri.com/ — Show Notes: (0:00) Intro (2:00) Optimize for your current phase (6:00) Identify your edge (12:00) Join a company or start a company? (15:00) Work on an A+ problem (19:00) Create luck (22:00) Service agency blueprint (28:00) Invest in yourself (31:00) Leaving a legacy 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

    🔑 Key Takeaways

    • Age should not limit you from achieving success. Focus on continuous growth and adaptability, prioritize learning in the early stages of your career, and leverage your skills and knowledge to achieve financial freedom.
    • Don't be afraid to try new things, embrace your beginner status, and take advantage of the time and opportunities available to gain valuable experience and shape your successful career path.
    • When starting from rock bottom, take risks and embrace your unique qualities to find success. Despite the scoreboard showing zero, significant progress can be made. Prioritize continuous learning and growth.
    • Surrounding yourself with ambitious individuals and focusing on meaningful challenges can greatly increase your chances of achieving success in your chosen field.
    • Identify and address significant challenges, take proactive initiative, and create opportunities through action and content creation to increase chances of success.
    • By leveraging the internet and networking with the right people, individuals can create new opportunities for themselves and their businesses, leading to significant income and growth.
    • Prioritize your growth by investing in your time and knowledge. Eliminate non-essential tasks, outsource work, and continuously learn to maximize your potential and achieve financial goals.
    • Prioritize opportunities to learn and grow, surround yourself with those ahead in your desired field, find a balance between making money and pursuing a mission, and invest in yourself and align with the right people for a successful career.

    📝 Podcast Summary

    Embracing the Phases of Success

    Age shouldn't hold you back from achieving success. It's not about being 21 or 25 again, but rather adopting a mindset of endless possibilities and constantly reinventing yourself. Freeing yourself from the pressure and doubt of time constraints allows you to focus on playing offense and creating breakthroughs. Instead of feeling behind or playing catch up, prioritize learning and personal growth in the early stages of your career. This sets the foundation for the earn phase, where you can leverage your skills and knowledge to extract value and achieve financial freedom. Remember, it's a journey divided into three phases: learn, earn, and legacy. Embrace each phase and optimize for growth to ultimately reach your goals.

    Explore, Learn, and Expand Your Horizons in the First 10 Years of Your Career

    The first 10 years of your career should be dedicated to the learn phase. Rather than sticking to one field or major, it is important to dabble and try different things to discover your unique capabilities and interests. Don't feel pressured to declare your major or long-term career path at a young age. Take advantage of being small and helpless, as people are more willing to help beginners. Embrace your status and ask for opportunities to learn and shadow experienced individuals. Additionally, recognize that you have time on your side and are not busy like you may be in the future. Use this advantage to explore various opportunities and gain valuable experience without worrying about the financial aspect. Remember, your mindset plays a crucial role in determining your actions and ultimately shaping your successful career path.

    Embracing the Loser's Edge for Personal Growth

    When you are starting from rock bottom and have nothing to lose, you can take more risks and embrace the loser's edge. It is important to find your personal edge, which is the unique combination of things that make you you. This could be a skill, a passion, or a special quality that sets you apart. You can ask your friends for insights or develop it through practice and exploration. As you go through the learning phase and build up progress, remember that the scoreboard may still show zero, but you have made significant strides. Finally, when faced with choices like starting your own company or joining an existing one, both paths can lead to success. The key is to prioritize continuous learning and growth.

    Surround yourself with the right people and meaningful challenges to achieve success.

    Surrounding yourself with like-minded, ambitious individuals who share your goals and dreams is essential for success. Whether you're a musician, a tech entrepreneur, or anything in between, seeking out a community of driven individuals is key. Moving to a place where you can find these people, like Silicon Valley or a talent magnet company, can be a game-changer. Additionally, it's crucial to pick an opportunity, whether it's a job or starting your own company, that allows you to do actual work rather than being an observer on the fringe. Focus on tackling the a plus problem, the critical issue that can make a significant impact, and don't settle for anything less. By surrounding yourself with the right people and tackling meaningful challenges, you'll increase your chances of achieving success in your chosen field.

    Prioritize the "a plus problem" and create luck for success.

    It is crucial to identify and prioritize the "a plus problem" in any company or entrepreneurial venture. By actively seeking out the most significant challenges and addressing them head-on, individuals can make a substantial impact and create opportunities for success. This requires being proactive and taking initiative, even if it means deviating from assigned tasks or responsibilities. Additionally, creating luck is not a matter of chance, but rather a deliberate effort to increase the odds of favorable outcomes. This can be accomplished by taking action, putting oneself out there, and leveraging content creation to attract opportunities. By consistently working on the most pressing problems and actively manufacturing luck, individuals can significantly increase their chances of achieving success.

    The power of online presence and targeted networking for career growth and business success.

    Putting your thoughts and unique analysis out on the internet can lead to new opportunities. By sharing his analysis on a stock, Shaan Puri's intern gained the attention of an investor, which opened doors for him. This highlights the importance of not just seeking popularity, but aiming to be known well by the right people. Additionally, when starting a business, it is key to identify a problem and solution fit. Setting a goal of having 10 customers paying $10,000 a month can lead to significant income and profit. To determine what service to offer, researching existing agencies and consulting services that command high retainers can provide insights. By reaching out to potential clients and offering solutions to their specific needs, such as website design or occupancy rate improvement for senior living facilities, one can generate consistent income and grow their business.

    Investing in Yourself: The Path to Success

    Investing in yourself means buying back your time and investing in knowledge. Many people make the mistake of trying to beat the market or come up with complex financial strategies with a small amount of money, but this is a waste of time and energy. Instead, focus on buying back your time by eliminating tasks that don't bring you joy or make you money. Hire an assistant or outsource work to free up your creative energy. Additionally, invest in knowledge by continuously learning and developing your skills. Whether it's becoming an expert in Google Ads or acquiring industry-specific knowledge, investing in yourself through knowledge will help you achieve your financial goals. Remember, investing in yourself is about prioritizing your growth and maximizing your potential.

    Investing in Yourself and Surrounding Yourself with the Right People for Success

    Investing in yourself and surrounding yourself with the right people can greatly impact your success. By prioritizing opportunities to learn and grow, even if it means taking a pay cut or leaving money on the table, you are investing in your future. Proximity to those who are ahead of you in your desired field and consistently exposing yourself to their knowledge and experiences can lead to personal growth and development. Additionally, it's important to strike a balance between making money and pursuing a mission-oriented goal. Building core skills and securing enough financial stability will provide a solid foundation for chasing a noble mission. Ultimately, investing in yourself and aligning with the right people can create opportunities and pave the way for a successful career.

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    The AI App Doing $6M With 1 Employee

    The AI App Doing $6M With 1 Employee
    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