#160 - Paid Communities Making $20m+ (and How to Build One), Fighting Inertia & An Interview With Dave Selinger of Deep Sentinel
My First Million12 Mars 2021

#160 - Paid Communities Making $20m+ (and How to Build One), Fighting Inertia & An Interview With Dave Selinger of Deep Sentinel

MFM #160 The guys breakdown paid communities Why paid communities are good businesses: You can make them kinda fast (much faster if you have an audience) Fun to run if you like the interest Don’t need a lot of start-up capital and can have a lean team Quite profitable Cons: Churn can be high Likely can’t scale to me huge Won’t get better with size necessarily (if user content-driven, deal-driven, or otherwise, more can be better. If connection related, less is better) Seem challenging to sell if there’s a leader To make a successful community: The amount of money you’ll make is directly proportional to the amount of revenue the members will make being connected to each other multiplied by the amount of people who’d sign up. Enthusiasts of RC cars? Likely don’t make much value from it, so you can’t charge a lot. But if it’s huge (and get better with size) then can work Underdog, us vs them, united interests, info that wants to be private, highly disjointed online, Communities the guys like: Tiger21: A peer group for people above with a net worth of at least $10m. Numbers: It boasts ~850 members. They generate revenue through a $30,000 membership fee and also run ads to its members. Do an estimated $24m at least in sales Sold to private equity recently Why join?: Learn and make connections. Evanta Was known as CXO Acquisition Co. and Sports Leadership Acquisition Co...so maybe started in sports? Evanta derives most of its revenue from event sponsorship. Event sponsors pay a fee to advertise at each event with pricing dependent upon the quality and level of executive attendance. 121 Unique communities worldwide 6,500 Participating organizations 253 C-level programs across 10 countries 83% of Fortune 100 represented 18,000 Participating C-level executives 87% companies with revenue of $1B+ Sold for $275m in 2016 to CEB and then Gartner Had $17m in cash when bought 12x income...so made $23m in profit! SoleSavvy A SoleSavy membership provides you the tools and resources you need to successfully purchase the products you want for retail (starting with sneakers) Raised $2m Started as a Slack group (the waitlist for the group grows by 400 people per day) 5,000 members. They charge $33 a month so $160k MRR Cook groups. AK Chef is a big one. 2000 ish members at $50. NurseLifeRN Instagram meme page with 1.2m followers BALA (a shoe for nurses company) uses this as the main advertising channel. Shaan predicts these niche communities can launch brands and hold equity in companies who need their captive audience to grow. Inertia Shaan explains inertia: Are you doing what you are doing just because or does it make you happy and are you chasing what you actually want --------- Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. Editing thanks to Jonathan Gallegos (@jjonthan)

Avsnitt(819)

7 Brutal Questions for a $20B Founder

7 Brutal Questions for a $20B Founder

Get Sam's AI Executive Coach Playbook - his exact system for everything from revenue optimization to life decisions: https://clickhubspot.com/dhn Episode 778: Sam Parr ( ⁠https://x.com/theSamParr⁠ ) talks to Brian Halligan ( https://x.com/bhalligan ) about the highs and lows of building HubSpot.  — Show Notes: (0:00) Are you happy? (2:57) Does it ever stop sucking? (5:18) Do you have imposter syndrome? (6:55) Were the trade offs worth it? (11:53) Is AI a bubble? (14:47) Do you have to be liked? (17:02) What would you do if you had to start over? (29:36) What did you get wrong? — Links: • Marketing Lessons From The Grateful Dead - https://tinyurl.com/ydmyh6f9  — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — 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 HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano //

26 Dec 44min

How to get rich with stocks (without math, charts or models)

How to get rich with stocks (without math, charts or models)

*Get Shaan's 4 money rules that took him from broke to $25M by 30:* https://clickhubspot.com/wrg Episode 777: Shaan Puri ( ⁠https://x.com/ShaanVP⁠ ) talks to Chris Camillo ( https://x.com/ChrisCamillo ) about how he turned $20K into $60M using social arbitrage investing.  — Show Notes: (0:00) Intro (1:00) Turning $20K to $60M (5:30) Garage sale arbitrage (12:36) Observational investing (14:33) Bet: Beacon Roof (19:03) Bet: E.l.f (22:04) Trending on Twitter (29:00) Ticker Tags (31:55) Bet: Sphere in Las Vegas (36:48) Chris's first million (40:34) My biggest mistake (43:42) Bet: Palantir (46:58) Drawing down 40% of my net worth (51:49) $30M in one year (57:39) 2026 picks: Bloom Energy, Palantir, NVIDIA (1:02:06) Should regular people do this? (1:13:45) Bet: Private airfaire — Links: • Dumb Money Live - https://www.youtube.com/@DumbMoneyLive  • Unknown Market Wizards - https://www.amazon.com/Market-Wizards-traders-youve-never/dp/0857198696  • Bloom -  https://www.bloomenergy.com/  — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — 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 HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano //

22 Dec 1h 21min

The 2025 Milly Awards!

The 2025 Milly Awards!

Get Steph's free Digits Database with 100+ generation-defining stats: https://clickhubspot.com/stm Episode 776: Sam Parr ( ⁠https://x.com/theSamParr⁠ ) and Shaan Puri ( ⁠https://x.com/ShaanVP⁠ ) are joined by Steph Smith ( https://x.com/stephsmithio ) in this year’s LIVE Milly Awards.  — Show Notes: (0:00) Welcome to the 2025 Milly Awards (1:21) Best Investment of the Year (11:09) Worst Investment of the Year (20:30) Biggest Personal L (29:18) Billy of the Year (39:10) Coolest Moment of the Year (52:49) Frame-Breaking Person / Favorite Guest (1:25:38) Meme of the Year — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — 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 HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano //

18 Dec 1h 41min

25 Years of Business Advice in 27 Minutes

25 Years of Business Advice in 27 Minutes

Steal Ryan's entire operating system: https://clickhubspot.com/gmb Episode 775: Sam Parr ( ⁠https://x.com/theSamParr⁠ ) and Shaan Puri ( ⁠https://x.com/ShaanVP⁠ ) talk to Ryan Deiss ( https://x.com/ryandeiss ) about how to create systems that run your business without you.  — Show Notes: (0:00) “The More Valuable You Are, the Less Valuable the Company Is” (2:39) Before and After (3:38) Step 1: Establish Defaults (4:33) Step 2: Identify Constraints (6:34) Step 3: Business Process Mapping (8:47) Step 4: The High Output Team Canvas (12:15) How you might screw this up (common mistakes) (22:00) Scalable (24:27) Psychology of money — Links: • Scalable - https://scalable.co/https://scalable.co/ • Digital Marketer - https://www.digitalmarketer.com/ — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — 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 HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano //

15 Dec 28min

Billionaire Lawyer spills his $250M side hustles (pick one)

Billionaire Lawyer spills his $250M side hustles (pick one)

Get the side hustle ideas database: https://clickhubspot.com/trm Episode 774: Sam Parr ( ⁠https://x.com/theSamParr⁠ ) and Shaan Puri ( ⁠https://x.com/ShaanVP⁠ ) talk to America’s richest lawyer John Morgan ( https://x.com/JohnMorganESQ ) about his fly-wheel side hustles.  — Show Notes: (0:00) Intro (2:08) Wonderworks (7:00) Alcatraz East ($5M/yr) (13:00) John's earliest hustles (17:11) Morgan & Morgan (29:48) The John Morgan School of Branding (33:30) Downtown Flavortown (37:55) WWGD - What would Google do (47:30) What John would chase today (48:58) The winning formula (52:05) Santa's Chocolate Factory (56:11) Malls (1:01:36) Bullets before bombs (1:02:13) “fish first, fish fast” — Links: • WonderWorks - https://www.wonderworksonline.com/  • Alcatraz East - https://www.alcatrazeast.com/  • Morgan and Morgan - https://www.forthepeople.com/  • Litify - https://www.litify.com/  • Practice Made Perfect - https://www.pmpmg.com/  • Mass Torts Made Perfect - https://mtmp.com/  — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — 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 HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano //

10 Dec 1h 17min

if you didn't make progress in 2025, listen to the first 10 minutes

if you didn't make progress in 2025, listen to the first 10 minutes

Get Sam's guide to turn ChatGPT into your life coach: https://clickhubspot.com/hdp Episode 773: Sam Parr ( ⁠https://x.com/theSamParr⁠ ) and Shaan Puri ( ⁠https://x.com/ShaanVP⁠ ) talk about the systems you need to hit your goals, Shaan’s new unpaid side hustle, and how to be a better communicator.  — Show Notes: (0:00) 5-year journaling (2:09) The power of a good system (8;21) The power of reminders (10:38) Shaan's new career path (16:27) the 3 things that matter (27:38) high-standards (32:45) How to craft an earworms (42:42) giving back better (46:11) The voice in your head (50:26) Shaan talks to a ChatGPT coach about money (1:00:01) “VIdeo is the native tongue of the internet” — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — 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 HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano //

8 Dec 1h 15min

The (Improbable) Story of Savannah Bananas' Rise to a $1B Empire

The (Improbable) Story of Savannah Bananas' Rise to a $1B Empire

Get the free Side Hustle Ideas Database 👉 https://clickhubspot.com/nsv Episode 772: Sam Parr ( ⁠https://x.com/theSamParr⁠ ) and Shaan Puri ( ⁠https://x.com/ShaanVP⁠ ) talk to Jesse Cole ( https://x.com/YellowTuxJesse ) the owner of Savannah Bananas and creator of Banana Ball.  — Show Notes: (0:00) 200 fans, $260 in the bank (3:00) The team no one ever heard about (9:01) How to become an idea machine (13:30) Lessons from PT Barnum, Bill Veeck, Walt Disney (15:55) Surviving embarrassment (19:16) Rock bottom (23:34) Inside Jesse's creative process (27:00) Stealing from MrBeast (28:39( Jesse opens his idea book (32:00) Meeting Bob Iger (33:28) Identifying the chip on Jesse's shoulder (38:58) 11 principles (48:14) The 12-star experience (53:12) The sacrifice of extreme hard mode (58:08) Attracting vs recruiting — Links: • Savannah Bananas - https://thesavannahbananas.com/  — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — 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 HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano //

5 Dec 1h 10min

3 Simple Businesses That Make Millions

3 Simple Businesses That Make Millions

Want to start a $1M side hustle? Get 100+ ideas here: https://clickhubspot.com/gbh Episode 771: Sam Parr ( ⁠https://x.com/theSamParr⁠ ) and Shaan Puri ( ⁠https://x.com/ShaanVP⁠ ) talk about simple business ideas that are making millions.  — Show Notes: (0:00) suckmyguttersclean (4:51) Hill BIlly of the Week (9:50) The MrBeast of roofing (16:02) Shaan gives his barber business advice (21:07) The positioning of Ari Emanuel (27:28) Barrett-Jackson auctions (29:41) The offline craving for content (39:56) Noise canceling products — Links: • Suck My Gutters Clean - https://www.suckmyguttersclean.com/  • Billy Bob Products - https://billybobproducts.com/ • Siua Cutz - https://www.instagram.com/siuacutz/  • Frieze - https://www.frieze.com/  • Barrett-Jackson - https://www.barrett-jackson.com/  • Museum of Ice Cream - https://www.museumoficecream.com/  — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — 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 HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano //

3 Dec 47min

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