3 Things You Need To Outperform 99% Of Entrepreneurs

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 22 June 2024

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 599: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) talk about the best traits of a startup founder and lessons from how Dana White, Elon Musk, and Emmett Shear cut through the bullshit. — Show Notes: (0:00) Top traits founders should take from Dana White (5:35) 1 - Brute force (10:21) 2 - Extreme bias for action (14:55) Quick audit of Dana White's gambling claims (18:00) 3 - Speed (19:00) Checklist for a perfect niche event business (22:56) IDEA: The Beer Mile (24:45) IDEA: Paddle Prison Break (25:47) IDEA: Skyline Scramble (30:17) Growth vs EBITDA vs cash flow (32:27) Shaan's Guide to Increase EBITDA (34:19) Step 1: create a EBITDA budget (37:08) Step 2: communicate the plan relentlessly (37:48) Step 3: Track and report (38:04) Step 4: Tie into incentives (38:30) Step 5: Repeat every 30 days (40:02) Next stage: Cash flow (41:28) The benefit of playing on Hard Mode (43:38) Is e-commerce dead? (44:54) Shaan's $30M dollar dream house (47:56) Shaan writes an essay (49:43) Sexier core principles (1:00:53) Culture: What people do when the boss isn't around — Links: • Shaan Puri essays - https://www.shaanpuri.com/essays • Brunello Cucinelli - https://shop.brunellocucinelli.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 • Sam’s List - http://samslist.co/ 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

Transcript

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0:00.0	extreme force of will, extreme bias for action,
0:03.3	and a questioning of the default speeds,
0:07.0	it changes everything.
0:09.0	I feel like I can rule the world,
0:10.9	I know I could be what I want to.
0:15.0	Yeah, you know I'm on this business entertainment kick where I'm looking for content that is about business, but is made to be entertaining.
0:26.4	So it's not just like an informational video or a blog post.
0:30.7	And so there's a new show called Fighting that I watched that I thought was really good.
0:35.0	Did you see it?
0:35.6	I saw the commercials for it.
0:37.2	How do you get it?
0:38.0	It's on Roku, but I don't have Roku.
0:39.2	You just Google like Watch Fight Inc and it's Roku just lets you just, it's on their website, but you don't have to sign up to do anything. You just. like watch
0:43.0	it's on their website but you don't have to sign up to do anything.
0:45.0	You just click and you just watch it.
0:46.0	So it's very cool.
0:48.0	They basically follow around Dana behind the scenes
0:51.0	and the UFC, like kind of the machine behind the
0:53.7	show and the UFC like kind of the machine behind the show and the UFC just to put this in perspective they basically
0:58.3	There is no off season the youFC is 52 weeks a. Every Saturday has to be an epic show. It's a live event with pay-per-view. It's got fighters who get injured and pull out or get arrested and now they can't fight. And there's all kinds of things that can and will go wrong, but it's like the actual
1:16.4	epitome of the show must go on. So I wanted to share with you a couple of my thoughts watching this from a founder's point of view.
1:23.0	So the first thing is, as silly as this sounds,
	...

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