My Step-By-Step Process To Building a $1M+ Business

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 5 April 2024

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 570: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) go through Sam’s journey of launching his company Hampton. It’s a step by step walkthrough of what went right and what went wrong. Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5 — Show Notes: (00:00) Intro - A radically transparent look inside Hampton launch. (2:22) The beginning of the idea just after Sam sells The Hustle, starts tinkering with buying AirBnBs. (3:00) Fail #1: Short-term rental crew. Fail #2: Community of truckers. (4:30) The Hampton idea and what the business is. (5:45) Fail #3: V1, V2, V3 of Hampton - no one wanted it (8:00) Accepted where the demand was and found the hook for Hampton. Research begins. (10:08) Where the name came from. (12:05) Hired a branding agency (This was a hack that helped build the brand) (14:12) Things Sam said no to (17:00) Leverage the founder story (20:18) Shaan's branding agency experience (21:40) Shaan’s $25K Mistake: Hiring a naming agency (26:00) Takeaways — Links: https://www.joinhampton.com/ Hampton Brand Inspiration doc: https://tinyurl.com/4uw5a9sv — 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 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

Transcript

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0:00.0	I'm like I should create this and then I looked in the mirror and I was like yeah this
0:03.4	ain't gonna work there's a reason your nickname is the vanilla gorilla okay like
0:06.8	yeah it wasn't gonna work
0:09.0	I feel like I can rule the world the name I love the brand I go to the website I love the website I love the name. I love the brand. I go to the website. I love the website. More than anything, I love the idea. I'm jealous of this idea. Andrew Wilkinson said, I'm so jealous that I didn't start this idea.
0:34.0	We are I feel like you got so much right and I know that the that in doing any idea
0:40.8	whatever you come you know there's something called the idea maze.
0:43.8	You go through, you wander around, you try to figure out the right path and you cut you, if you're lucky,
0:47.5	you pop out the other side with what you did with Hampton where everything turned out right.
0:51.1	What I want to know is what were the other paths you considered but ended up saying
0:56.3	no to along the way because nobody sees that stuff that's on the cutting room floor. I want to know you know know, I love the name Hampton. Were there
1:03.9	other names that you thought about and like how did you pick that one and like what
1:07.8	was that decision process? I want to know target market like you I feel like you nailed
1:11.7	the target market.
1:12.5	and you've nailed the value prop.
1:14.2	Were there three other runner-ups
1:15.7	that you consider that you didn't have?
1:17.2	I kind of want to see what goes on underneath the surface
1:20.4	before this beautiful execution comes out.
1:23.0	All right, a quick message from our sponsor, which is of course HubSpot.
1:27.0	Now look, growing a business is tough and it's tough because a lot of times you have to duct tape a ton of software together to make it work.
1:34.3	I've been there and it's a pain in the butt.
1:36.5	You have this thing connecting to that thing and the two things that are being connected.
	...

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