019: How Sam Parr Retired With Over $20 Million by Age 31

The Nick Bare Podcast

Nick Bare

Health & Fitness

5 • 5.9K Ratings

🗓️ 19 June 2023

⏱️ 117 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

I sit down with the remarkable entrepreneur and investor, Sam Parr. Sam, the brilliant mind behind The Hustle, accomplished an extraordinary feat by retiring at 31 after selling his company to Hubspot. He is now the host of the highly acclaimed podcast, My First Million, and continues to educate and inspire others to succeed in entrepreneurship.

In this conversation, we delve into building an audience versus a community, unravel the key differentiators that propel individuals to success, and dive deep into the intriguing story of how Sam sold his company. And all the other captivating stories Sam has experienced as well. Enjoy the episode!

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Keep up with Sam here:

IG: https://www.instagram.com/thesamparr/

YT: https://www.youtube.com/@MyFirstMillionPod

Topics:

00:00 Intro

1:33 “I’m not a businessman, I’m an artist”

13:44 Why Sam started his blog

19:54 Selling The Hustle to Hubspot

32:21 Stepping down from the CEO role

38:23 Overcoming feeling inadequate

43:05 Misconceptions on founder wealth

46:17 Bootstrapping vs. raising capital

50:14 The separator of successful people

53:05 Maintaining creative freedom

1:03:03 Growing in entrepreneurship

1:13:58 Competitive advantages

1:18:09 Sam’s new business model

1:22:27 Content creation

1:28:31 Audience vs. community

1:35:06 Natty or not

1:42:35 Sam’s vision for the future

1:47:49 Selling his business

1:50:57 “Molecule Of More”

Transcript

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0:00.0	An audience is one to many.
0:02.1	It's Nick posting videos.
0:03.7	It's Sam posting a podcast.
0:05.2	A community is many to many.
0:07.1	And it has to have like a location in which that's happened,
0:09.5	whether it's physical or digital.
0:10.8	And the way that you know you have one of the other
0:13.2	is quit creating content for a month and come back
0:15.7	and what happens or with a community,
0:17.6	you the creator quit making stuff for a month
0:19.8	and you should come back and you should have more.
0:21.6	It should be more content, more interactions
0:23.7	than when you left.
0:24.5	It should grow like exponential because it's many to many.
0:26.8	But it's like if you quit creating content,
0:28.8	VPN's not going to go away, but like Nick Bares relevance will be.
0:35.9	Before jumping into this episode,
0:37.8	I want to thank you for tuning in and spending your time with me.
0:41.4	Every watch and listen truly does matter.
0:45.0	Now we've decided to not take on any sponsors for this podcast
0:48.8	because we don't want to interrupt your listening experience.
0:51.7	But if you do want to support me,
	...

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