If you’re an entrepreneur, chances are you’re always looking for ways to grow your business.
Trust me when I say, this is the podcast you’ve been looking for. Get ready to take some notes.
That’s why I wanted to talk about the My First Million podcast. This show is all about helping entrepreneurs learn from experienced business owners so they can make more money.
The hosts, Sam Parr and Shaan Puri have a wealth of knowledge to share, and they cover a wide range of topics on the show. In this post, we’ll take a look at some of the things you can learn from My First Million and some of the key takeaways.
We’ll also outline the different parts of the show so that you can get a better idea of what to expect. So, if you’re ready to start making more money in your business, then let’s get started.
My First Million is a great resource for entrepreneurs who want to learn from more experienced business owners who have ACTUALLY built companies.
These guys aren’t “business gurus” with youtube channels who make their money telling people how to make money without ever building one themselves.
It’s worth mentioning the first big win these guys have each experienced. Each of them has built one or more companies that have been a success.
Sam Parr: Twitter Account = @thesamparr
Founder of the Hustle
Sam Parr initially got started in the conference space. He wanted to put together a conference where business owners and entrepreneurs could come to educate his audience and provide people with business ideas and motivation to get out there and make something happen.
If memory serves me right, he named it “Hustlecon”.
After having a great first event, he saw the huge potential of the space and opted to start a newsletter and content site where he could do the same thing online at scale.
After just a few years, Sam was able to get the readership into the six-seven figure range in terms of subscribers/readers (a rather impressive accomplishment).
Enter Hubspot. The notable CRM company ended up acquiring the hustle for what we believe was more than $20,000,000. At the time it had somewhere around 1.5MM readers!
It’s safe to say that Sam Parr made a pretty penny off the sale (he owned most, if not the majority of it). As of now, he is currently employed by Hubspot to make podcasts for My First Million and he is dabbling in the short-term rental market.
Here is one of his awesome AirBnB properties outside of Fredricksburg you can stay -> Sam Parr’s Airbnb.
Now let’s move on to Shaan Puri.
Shaan Puri: Twitter Account @Shaanpuri
Shaan Puri had his grand slam with a company named Bebo. Bebo is an esports platform that was sold to twitch gaming around 2019 for a reported $25,000,000 according to tech crunch.
From there, Shaan was able to make a nice little exit for himself and began to work for twitch as an employee, similar to what Sam did with the hustle.
Shaan Puri now has a new startup newsletter called “Milk Road” (which I love by the way), which is a newsletter that mainly talks about cryptocurrency.
Life seems to be pretty good for him these days from what we hear from the podcast.
What I like most about Shaan are all the great business ideas he comes up with. He is a big picture thinker and a natural salesman in my opinion.
Check both these guys out on their LinkedIn or Twitter accounts to learn more.
Enough about the creators – let’s move on to the podcast itself now!
My First Million Podcast
The show is packed with useful information, and it’s perfect for those who are looking to take their business to the next level.
The dynamic between the two hosts is perfect.
Sam Parr is the backbone of the show in terms of “showing up” and content. Something tells me he is the one that does the majority of the prep work.
Sam Parr is great because he is good at calling people out on their crap and also getting the most information out of people. He doesn’t shy away from asking uncomfortable questions. He brings lots more value to the show that wouldn’t be there otherwise.
Shaan Puri is a witty, funny, and big picture thinker for sure. He loves to wing it and Sam is constantly explaining how he is always late to recording and is not prepped LOL.
The My First Million podcast has several different parts that cover a range of topics.
Here are a few of the segments that are covered in there:
“Billy of the week”
This is the segment of the podcast where they cover cool (usually unknown) billionaires once a week.
They will take key learnings, and explain the type of business they are operating. In addition, they explain how they got to where they are. There have been some really interesting ones on the podcast so far.
These businesses are often “boring” businesses which I am fond of the most. Many of these guys have built their companies over many, many years. There are no get-rich stories on here.
Great business ideas
Most of the time this is done by Shaan Puri and Sam Parr. Occasionally they will have someone like Andrew Wilkinson (founder of Tiny) on.
During this, they will riff on great business ideas and current businesses that they think are good ideas for their listeners to go into.
Often they will talk about companies that are close to what they are talking about, but not all the way there.
This segment is done weekly, if not daily. Shaan seems to have the most ideas, as he is the big idea guy.
Investment Tips/Life Advice.
The hosts have some good advice on this topic and some other life tips in general. Below are some of the main themes heard over the podcast.
- Crypto Currency
- Real Estate Investing
- Stocks & Municpal bonds
- Going all in early
- Angel Investing
Crypto Currency
Crypto is a major investment topic on the My First Million Podcast. Shaan Puri is the driving force for it, as much of his net worth is tied to crypto.
Shaan frequently suggests that his audience should invest in bitcoin and Ethereum. He covers all his opinions and suggestions in-depth in his newsletter.
Sam seems to be more conservative in general with his investments from what I can tell.
Sam invests in start-ups, real estate, bonds, and stocks.
Real Estate Investing
In terms of real estate investing Sam usually talks about the advantages and returns of short-term rentals. He also has had a guest or two on that are in the same boat in terms of their investment philosophy.
Sam is bullish on rentals and Airbnb in particular.
It sounds like Shaan stays away from investments like Real Estate because they seem to be too “hands-on” for him at this point in his life.
Stocks & Mutual Bonds
Sam and Shaan both are invested in stocks. From what I’ve heard, Sam is in much more conservative holdings versus Shaan’s holdings. Puri has a much more aggressive portfolio overall.
Additionally, Sam owns a ton of mutual bonds where he gets a small, but “safe” return where he can park most of his cash.
Going all-in early
I have frequently heard from Sam Parr on the podcast that some of his best advice would be to try and start a business when you are young and full of energy because it only gets harder as you age.
Once you start to have a family and further obligations it can start to get much harder on you.
I couldn’t agree with him more on that. On one of the latest podcast episodes, it sounded like Shaan also echoed that sentiment as well.
Something else Shaan said was so true. Whatever business ideas you think of during your life, easy businesses require just as much work as hard ones, so you might as well build a company that gives you the best returns for your time spent.
Andrew Wilkinson also had a good nugget the other day. He said to try and start a company not only when you are young, but also while you are on someone else’s dime.
There are so many good companies hiring right now that have great pay. There is no reason you can’t hustle on the side until you get to your first million.
My First Million is all about those types of business models and building companies that can scale and succeed.
Angel Investing
These guys both invest in startup companies. They often talk about how a company at this stage is a risky investment and you often only see success in something like 1 out of 10 that you invest in.
They claim it’s not a great investment strategy, but it’s always a lot of fun for them to invest in companies who has a founder who likes to hustle and has a great idea.
One learning from the podcast that I often hear that Shaan mentioned the other day was that you should always be investing in stuff that you use.
Sit back and think about the software, services, and clothing you wear. What fads do your kids talk about most? What is constantly on the news or being blogged about?
Thinking like this is what will ultimately lead you to your first million.
Conclusion
The My First Million podcast has everything you need to start thinking like a business owner and help you identify companies that are on their way to success. That way you can emulate that in your own business or get a good idea of what type of businesses to start.
Shaan Puri and Sam Parr put some great effort into the podcast and have some good data and links to back up their findings. It is worth it to subscribe!
There are at least 1-3 new podcast episodes per week and you can also catch them on video on their youtube channel.
You can listen or catch the latest My First million podcast Here. Make sure you subscribe to their podcast, so you don’t miss out on future episodes.
Sam Parr’s Links:
Sam Parr Twitter -> Here
Sam Parr Facebook -> Here
Sam Parr Instagram -> Here
Sam Parr Airbnb -> Here
Shaan Puri’s Links:
Shaan Puri Twitter -> Here
Shaan Puri Facebook -> Here
Shaan Puri Instagram -> Here
Shaan Puri Newsletter -> Here
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