Exploring Business Ideas and Finding Success

6min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

The chapter delves into the host's journey of exploring different business ideas, from a failed attempt at starting an Airbnb business to settling on a successful product that led to millions in revenue. It discusses the challenges faced in finding a viable business model, engaging with different target groups, and the process of market research that ultimately led to success.

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: