#80 - The Guide on Generating Startup Ideas

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 3 June 2020

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion. Shaan Puri (@ShaanVP) and Sam Parr (@theSamParr) kick around a several new business models, and then they break down frameworks for how the best founders develop and source startup ideas.. The second half of the show is also Shaan and Sam talking through current events. Today's topic include: Shaan and Sam talk about gaming credit card points (0:16), Shaan brainstorms on a service for creating tax-advantaged foundations for athletes or other high earners (4:00), Sam and Shaan talk about how to come up with ideas (9:00), Shaan describes the “old and new” framework of idea generation (22:00), Sam talks about why he hates courses as a business model (27:00), Sam and Shaan talk through current events. See acast.com/privacy for privacy and opt-out information.

Transcript

Click on a timestamp to play from that location

0:00.0	Sam, what's up?
0:10.0	Let's go on on. Let me pull up some of our documents.
0:13.0	Okay. Couple things I thought were interesting. One, you posted something about this thing called
0:18.0	Moe Points. What is that?
0:19.0	So Moe, it's my friend Moe. Him and Ramon grew up together in Moe's from Afghanistan by way of
0:27.0	Ramon from another one's and then moved here and they used to have a business.
0:33.0	It's shut down now so I can talk about it where they would buy and sell airline points and he became an
0:41.0	expert on how to maximize points and so I'm getting into this now and so for example.
0:49.0	If there's all these ways that you can like if you're spending money on advertising on this on that you can maximize your
0:54.0	money and fly for free forever for years. And so he would teach me how to do it myself and I was like,
0:59.0	oh, turn this into a course. And so that's what it is. Let's let's let's pip them out though.
1:04.0	Is it Moe points dot com? Yeah, I checked it out because I was pretty interested in this like in the same way that you want like a
1:09.0	tax guy to help you save money on the back end. You know, whenever you do like pretty significant
1:14.0	credit card spending and a lot of times if you own your own business you can rack up a lot of spending on
1:19.0	cards. I hate going and figuring this stuff out. I just feel like it's a waste of my brain and it's a waste of my
1:26.0	time to go like optimize my spending and buy points so I can travel free and book all this stuff.
1:31.0	But I like know it's valuable. And so I was hoping to get like what's the shortcut? What's the like, you know,
1:37.0	either you do it for me or like what's the 80 20 give me the few things I can do that will give me the highest return on my
1:43.0	time and effort because I know I'm sort of wasting this opportunity and I don't want to go become an expert in this stuff.
1:48.0	But if you're an expert, fantastic. So I signed up for it. You know, points are interesting. I just got into
1:53.0	them recently. So I earn 300,000 to 400,000 points a month. And that translates to one percent of that in cash value.
2:04.0	Right. So if I spend a million dollars a year through my credit card, which sounds like a lot if you're just an individual and
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Hubspot, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Hubspot and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.