#58 - How To Navigate The Upcoming Depression

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: • [Steal This] Get our proven writing frameworks that have made us millions https://clickhubspot.com/copy • Shaan Puri essays - ​​https://www.shaanpuri.com/essays • Brunello Cucinelli - https://shop.brunellocucinelli.com/ • Grab HubSpot's free AI-Powered Customer Platform and watch your business grow https://clickhubspot.com/fmf • Wander - https://www.wander.com/mfm (Enter to win a free trip and use code MFM300 at checkout for $300 off your booking) — 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

22 Juni 20241h 9min

Episode 598: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) talk about which path is worth pursuing: money or passion? — Show Notes: (0:00) The rise and fall of the Lehman Brothers (4:56) The life we live vs the unlived life (9:13) How Jerry Seinfeld puts in the work (12:54) You don't have to save the world (21:45) “What would I work on if I wasn't afraid?” (23:27) Sylvester Stallone and the wolf at the door (30:10) Low Key Billy of the Week: Michael Pryor (39:29) Sam reflects on being popular (40:58) Sam and Shaan's "number" to walk away — Links: • [Steal This] Get our proven writing frameworks that have made us millions https://clickhubspot.com/copy • The War of Art - https://tinyurl.com/4w9evyk8 • Fog Bugz - https://ignitetech.com/softwarelibrary/fogbugz • Stack Overflow - https://stackoverflow.com/ • Joel on Software - https://www.joelonsoftware.com/ • Wander - https://www.wander.com/mfm (Enter to win a free trip and use code MFM300 at checkout for $300 off your booking) • Grab HubSpot's free AI-Powered Customer Platform and watch your business grow https://clickhubspot.com/fmf — 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/ — 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 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

19 Juni 202448min

Episode 597: Sam Parr ( https://twitter.com/theSamParr ) talks to Brett Adcock ( https://x.com/adcock_brett ) about his next big idea, his checklist for entrepreneurs, and his framework for learning new things and moving fast.  — Show Notes: (0:00) Solving school shootings (3:15) Cold calling NASA (6:14) Spotting the mega-trend (8:37) "Thinking big is easier" (12:42) Brett's philosophy on company names (16:22) Brett's ideas note app: genetics, super-sonic travel, synthetic foods (19:45) "I just want to win" (21:46) Brett's checklist for entrepreneurs (25:17) Being fast in hardware (30:15) Brett's framework for learning new things (33:00) Who does Brett admire — Links: • [Steal This] Get our proven writing frameworks that have made us millions https://clickhubspot.com/copy • Brett Adcock - https://www.brettadcock.com/ • Cover - https://www.cover.ai/ • Figure - https://figure.ai/ — 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

17 Juni 202438min

Episode 596: Sam Parr ( https://twitter.com/theSamParr ) talks to Craig Fuller ( https://x.com/FreightAlley ) about how he turned dying hobby magazines into a cash flow machine.  — Show Notes: (0:00) Intro (2:45) Economics of long-haul trucking (3:36) Getting fired from the family business (5:30) Fuel cards for truck drivers (6:40) How FreightWaves hit $20M ARR in 2 years (9:08) Acquiring FLYING for $3.5M (12:14) Opportunity: Depressed media properties (16:02) From losing $8 per subscriber to profitability in 1 year (20:31) A media side hustle becomes a real estate main hustle (22:55) Craig's tolerance for being leveraged (25:32) Pre-selling $28M units pre-construction (28:51) Diversity, Asymmetrical risk, and generational security (31:11) Teams to diversify your time (34:21) Building a portfolio of hobby magazines (37:20) Content to commerce playbook (47:03) The story of William Randolph Hearst (51:32) What's the chase? (53:15) "The best thing to give a founder is an enemy" — Links: • FreightWaves - https://www.freightwaves.com/ • Knight-Swift - https://knight-swift.com/ • Firecrown - https://firecrown.com/ • The Chief - https://tinyurl.com/36khrt8y — 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/ — 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 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

13 Juni 202458min

Episode 595: Anand Sanwal ( https://x.com/asanwal ) joins Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) to reveal his playbook for building an insanely profitable data business.  — Show Notes: (0:00) Anand’s data arbitrage playbook (9:51) Starting weird as Chubby Brain (12:03) Don't run 100mph in the wrong direction (14:53) Edge, Collection, and Opportunity (19:24) IDEA: High-end Glassdoor (27:00) IDEA: C-Suite Head Hunting Service (28:57) IDEA: HomeOptions for Founder Exits (32:17) Anand's School of Entrepreneuring (36:03) Learn how to think, not what to think (38:18) The Die-At-Your-Desk Life Philosophy (39:26) Competency-based curriculum (42:47) IDEA: Slime Museums (46:40) IDEA: Autonomous HOA Convenience Stores (51:32) IDEA: Online Addiction Centers (58:51) Leadership lessons from legendary coaches — Links: • [Steal This] Get our proven writing frameworks that have made us millions https://clickhubspot.com/copy • CB Insights - https://www.cbinsights.com/ • Bloomberg article - https://tinyurl.com/32ns9beu • Blackbaud - https://www.blackbaud.com/solutions/total-fundraising-solutions • HomeOptions - https://www.homeoptions.com/ • IMG Academy - https://www.imgacademy.com/ • American Addiction Centers - https://americanaddictioncenters.org/ • Weapons of Mass Instruction - https://tinyurl.com/49s6xhpk • Chasing Perfection - https://tinyurl.com/46hc5zxj • The Score Takes Care of Itself - https://tinyurl.com/4v6k72h3 • The Talent Code - https://tinyurl.com/4h2z9yer • The Learner Lab - https://thelearnerlab.com/ • Grab HubSpot's free AI-Powered Customer Platform and watch your business grow https://clickhubspot.com/fmf — 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/ — 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 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

11 Juni 20241h 16min

Episode 594:  Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) explain what’s happening with GameStop AGAIN and how Keith Gill turned $56k into $210M with memes.  — Show Notes: (0:00) Roaring Kitty's $200M GameStop holding (8:41) Is Keith Gill the most genius creator behind a brand? (14:53) Where did the $65M come from? (17:44) The 7 Stages of GameStop FOMO (20:00) Ryan Cohen's activist investments in GameStop, Bed Bath and Beyond  (26:34) Shaan's honest take on paternity leave (31:53) Painting the windows black (35:42) Zach Pogrob's The Year of Obsession (37:03) What's the deal with run clubs right now? (39:19) Sexy faces and sexy paces (42:04) Endurance event businesses (45:06) Opportunity: The suburban Iron Man (51:19) Scott Harrison gives Shaan unsolicited feedback — Links: • [Steal This] Get our proven writing frameworks that have made us millions https://clickhubspot.com/copy • wallstreetbets - https://www.reddit.com/r/wallstreetbets/ • Unusual Whales - https://unusualwhales.com/ • WSJ on Ryan Cohen - https://tinyurl.com/4zue9xps • Wander - https://www.wander.com/ • The Lehman Trilogy - https://thelehmantrilogy.com/ • The Year of Obsession - https://tinyurl.com/4nsrh689 • Nick Bare - https://www.instagram.com/nickbarefitness • RAWDAWG - https://www.instagram.com/rawdawgrunclub • River - https://www.getriver.io/ • 29029 Everesting - https://29029everesting.com/ • Rock n Roll Running - https://www.runrocknroll.com/ • thespeedproject - https://www.instagram.com/thespeedproject • Grab HubSpot's free AI-Powered Customer Platform and watch your business grow https://clickhubspot.com/fmf — Enter to win a free trip at https://www.wander.com/mfm and use code MFM300 at checkout for $300 off your booking. — 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

7 Juni 20241h 1min

Episode 593:  Sam Parr ( https://twitter.com/theSamParr ) and Jason Fried ( https://x.com/jasonfried ) open up about personal finances, raising kids around wealth and dealing with risk.  — Show Notes: (0:00) Sam and Jason play Would You Rather... (5:15) Loosening the grip on the stick (12:35) The pale blue dot (14:03) Why does the businessworld deserve our best lessons? (18:30) Early days vs. vs. middle days vs later days (24:47) "A founder's job is to inject risk" (29:36) “Cool wears off but useful never does” (31:07) Striking balance with a business partner (34:14) The value of talking about money (37:28) Navigating luxury with kids (40:08) Midwestern values on blast (43:39) The truth about luck (46:55) Staying up vs. staying off (49:45) New insights from old biographies — Links: • [Steal This] Get our proven writing frameworks that have made us millions https://clickhubspot.com/copy • The Most Important Thing - https://tinyurl.com/9ym3xw5b • Peter Lynch books - https://tinyurl.com/2nf87pzb • The Pale Blue Dot - https://www.planetary.org/worlds/pale-blue-dot • The Messy Middle = https://tinyurl.com/2paw5jmk • Sam’s List - http://samslist.co/ • Newspapers.com - http://newpapers.com/ • Pessimists Archive - https://pessimistsarchive.org/ • Grab HubSpot's free AI-Powered Customer Platform and watch your business grow https://clickhubspot.com/fmf — 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 — 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 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

5 Juni 202458min

Episode 592:  Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) break down the economics of luxury hobby magazines, make a prediction about Ai cameras, and explain how to find the next tech wave.  Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5 — Show Notes: (0:00) Craig Fuller's field of dreams (5:12) $50M side hustle (9:16) We call to find out EXACTLY how he did it (19:02) The New York Times is a gaming company (23:27) Idea: Third party LinkedIn games developer (27:00) How rich people spend money (29:00) The myth of the second home (30:57) Ai cameras (36:31) Prediction: A camera on every field, every court (38:31) How to find the next wave: What's the next menus on the internet? (40:41) How to avoid product obsolescence (44:09) "Measure twice. Cut once" — Links: • FreightWaves - https://www.freightwaves.com/ • FLYING Magazine - https://www.flyingmag.com/ • Firecrown - https://firecrown.com/ • Veo - https://launch.veo.co/ • Grab HubSpot's free AI-Powered Customer Platform and watch your business grow - https://clickhubspot.com/fmf — 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

3 Juni 202451min