My First Million

If I Had To Make $1 Billion... Here’s The Business I Would Start

Dec 8, 2023

01:03:35

Snipd AI

Entrepreneurs Shaan Puri and Sam Parr discuss ways to make a million dollars fast, including the 'me also' strategy and reverse engineering successful businesses. They also explore creating a problem-solving membership for employees, the benefits of holding qualified small business stock, and shifting perspectives on payroll expenses. Additionally, they delve into copywriting, the value of universities, and their game plan for acquiring and branding a university. The hosts also explore selling Personalized Sports League seats, buying a university, and pitching a new brand of education.

AI Summary

Highlights

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Purpose-built robots can revolutionize industries by solving specific needs.

A QSBS advisory firm can provide valuable expertise in navigating tax rules for small businesses.

Acquiring and rebranding a university can leverage existing infrastructure to create an innovative educational institution.

Deep dives

Purpose-built robots: The key to a billion-dollar idea

One idea for a billion-dollar business is to focus on purpose-built robots that solve specific needs. Instead of trying to create a humanoid robot, the key is to look at successful robots like dishwashers and identify other areas where purpose-built robots can make an impact. For example, a robot that can lay roofing or perform other specialized tasks. By creating innovative, niche robots, there is an opportunity to lower costs, increase productivity, and improve safety in various industries.

Making a Million Dollars: Cash Flow vs. Selling a Business

01:13

Discussion on Tech Risk and Demand Risk in Building Billion Dollar Company

03:39

Creating a QSBS Advisory Firm: Helping Tech Companies Maximize Tax Benefits

02:50

Offering Advisory Services for QSBS Eligibility to Tech Companies

02:24

Introduction

2min

Strategies for Making a Million Dollars in a Few Years

2min

The 'Me Also' Strategy and Reverse Engineering Successful Businesses

11min

Creating a Problem-Solving Membership for Employees

3min

QSBS Eligibility and Benefits

8min

Shifting Perspective on Payroll Expenses

20min

Copywriting and the Value of Universities

2min

Financial Aspects and Brand Building

11min

Exploring PSLs, Buying a University, and Pitching a New Brand of Education

4min

Episode 528: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) answer the question they get most often: “If you had to pick one idea that to make a million dollars this year, what would it be?”

No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd

—

Show Notes:

(0:00) Intro

(3:00) Idea 1 - The "Me Also" strategy

(12:00) Idea 2 - Niche community that solves for X

(16:00) Idea 3 - QSBS advisory firm

(24:00) Idea 4 - Pizza robots

(44:00) Idea 5 - Buying a university

—

Links:

• Quiet Light - https://quietlight.com/

• Exit Five - https://www.exitfive.com/

• Figure - http://figure.ai/

• Renovate Robotics - https://www.renovaterobotics.com/

• Anduril - https://anduril.com/

• DealStream - https://dealstream.com/

—

Check Out Shaan's Stuff:

• Try Shepherd Out - https://www.supportshepherd.com/

• Free 2024 Goal-Setting Session - https://planfor2024.com/

• Shaan's Personal Assistant System - http://shaanpuri.com/remoteassistant

• Power Writing Course - https://maven.com/generalist/writing

• Small Boy Newsletter - https://smallboy.co/

• Daily Newsletter - https://www.shaanpuri.com/

Check Out Sam's Stuff:

• Hampton - https://www.joinhampton.com/

• Ideation Bootcamp - https://www.ideationbootcamp.co/

• Copy That - https://copythat.com/

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

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

My First Million

If I Had To Make $1 Billion... Here’s The Business I Would Start

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Purpose-built robots: The key to a billion-dollar idea

Creating a QSBS advisory firm for huge tax savings

Buying and rebranding a university for a prestigious educational institution

Building a Company with a Capital Allocator Mindset

The Billion Dollar Idea: Humanoids and NFTs in Education

Making a Million Dollars: Cash Flow vs. Selling a Business

Discussion on Tech Risk and Demand Risk in Building Billion Dollar Company

Creating a QSBS Advisory Firm: Helping Tech Companies Maximize Tax Benefits

Offering Advisory Services for QSBS Eligibility to Tech Companies

—

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

Get the Snipd
podcast app

AI-powered
podcast player

Discover
highlights

Save any
moment

Share
& Export

AI-powered
podcast player

Discover
highlights

My First Million

If I Had To Make $1 Billion... Here’s The Business I Would Start

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Purpose-built robots: The key to a billion-dollar idea

Creating a QSBS advisory firm for huge tax savings

Buying and rebranding a university for a prestigious educational institution

Building a Company with a Capital Allocator Mindset

The Billion Dollar Idea: Humanoids and NFTs in Education

Making a Million Dollars: Cash Flow vs. Selling a Business

Discussion on Tech Risk and Demand Risk in Building Billion Dollar Company

Creating a QSBS Advisory Firm: Helping Tech Companies Maximize Tax Benefits

Offering Advisory Services for QSBS Eligibility to Tech Companies

—

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

Get the Snipdpodcast app

AI-poweredpodcast player

Discoverhighlights

Save anymoment

Share& Export

AI-poweredpodcast player

Discoverhighlights

• #218 - Why You Should Take a Think Week Like Bill Gates

Get the Snipd
podcast app

AI-powered
podcast player

Discover
highlights

Save any
moment

Share
& Export

AI-powered
podcast player

Discover
highlights