Finding Profitable Business Ideas By Studying Trends, Hood Rat Stuff, and More

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 22 March 2022

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) talk about how to identify trends, whether it's possible to get ultra-wealthy from cash flow businesses, why they enjoy doing hood rat stuff, and more. ----- Links: * https://worldview.space/ * https://www.reddit.com/r/antiwork/ * https://www.reddit.com/r/overemployed/ * Bullshit Jobs: https://www.amazon.com/Bullshit-Jobs-Theory-David-Graeber/dp/150114331X * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter. ----- Show Notes: (03:45) - Shaan's trip to Mexico (07:35) - Worldview (15:05) - Sam's goals for MFM (20:50) - The secret world of how things come to be (29:30) - Identifying trends (42:00) - How many employees does a company needs (49:10) - Why Sam and Shaan love doing hood rat stuff (53:30) - Can you make 9 figures from cash flow businesses? (55:45) - Sam's advice for Warren Buffet (01:03:00) - Being honest about why you start a company ----- 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. ----- Additional 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

Transcript

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0:00.0	All right, QuickBag to tell you about another podcast that we're interested in right now.
0:04.4	Hosepot just launched a Shark Tank rewatch podcast called Another Bite.
0:08.9	Every week, the host relived the latest and greatest pitches from Shark Tank, from Squatty
0:13.1	Potty, to the Mention a Bench, to Ring Doorbell, and they break down why these pitches were
0:18.6	winners or losers, and each company's go-to-market strategy, branding, pricing, valuation, everything.
0:24.2	Basically, all the things you want to know about how to survive the tank and scale your
0:28.4	company on your own.
0:29.6	If you want to give it a listen, you can find another bite on whatever podcast that you
0:32.9	listen to, like Apple or Spotify, or whatever you're using right now.
0:36.2	All right, back to the show.
0:37.7	You're good at doing this, which is you identify these lifestyle trends.
0:42.0	You pick up pretty quickly on like, there's a group of people that are deciding to live
0:46.9	under a different paradigm, a different model or creed.
0:50.2	And actually that was one of the best ways to build a business around that lifestyle, because
0:55.2	you can speak to that audience, you can differentiate a product super easily to that
0:59.4	style.
1:00.4	One time I went to an amateur fight in, you've been there.
1:14.3	It was at the Golden State Park or something.
1:16.7	Remember that?
1:17.7	Yeah.
1:18.7	And there was like a thousand people there.
1:19.8	And at the fight, you know how?
	...

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