My First Million

Syed Balkhi: How He Went From $0 To +$100M Before Age 30

Aug 17, 2023

01:18:37

Snipd AI

Sayed Balkhi, entrepreneur, shares his journey from moving to Pakistan with no money to building a 9-figure WordPress empire before turning 30. Topics include buying gas stations, recurring revenue vs. re-occurring revenue, business ideas like a content agency and AI wrappers, net worth breakdown, and learning how to spend money.

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Quick takeaways

Building cash flow through services powered by AI can be a lucrative opportunity for starting a profitable agency business.

Identifying distressed assets or mismanaged gems and implementing effective strategies can significantly increase their value.

Delegating tasks and maintaining oversight through tools like EOS scorecards can help manage multiple businesses successfully while focusing on strategic decision-making.

Deep dives

Building Cash Flow with Services and AI

One idea or opportunity for someone starting out is to build cash flow through services, such as a content agency or copywriting agency powered by AI. These agencies can leverage AI tools like clay.com to automate sales outreach and generate high-quality content efficiently. By focusing on cash flow generation, utilizing AI technology, and providing excellent service, one can build a profitable agency business.

Building Cash Flow through Services: A Viable Opportunity for Others

01:12

Don’t be in a hurry to get rich. It’ll happen.

01:07

The Power of Cash Flow Income

01:27

How to Start a Blogging Business

01:37

Introduction

2min

Achieving Financial Success Without Creating the Next Big Thing

16min

Achieving Financial Success through Real Estate

18min

Distressed Assets and Mismanaged Gems: Unlocking the Potential

2min

Focusing on Product and Word of Mouth Marketing

5min

Building Cash Flow through AI-Powered Content and Copywriting Agencies

3min

Building vs Buying Companies

26min

The Guest's Fascinating Story and Philanthropy Focus

4min

Episode 486: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) talk with Syed Balkhi (https://twitter.com/syedbalkhi) about moving from Pakistan with no money to building a 9-figure WordPress empire before he turned 30. Learn why he turned down a $70M offer, why he bought a gas station as a baby shower gift, the difference between recurring revenue vs. re-occurring revenue, and much more.

Want to see more MFM? Subscribe to the MFM YouTube channel here.

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Check Out Shaan's Stuff:

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

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Show Notes:

(0:00) Intro

(7:00) Starts first business at 13

(12:00) Starts WPBeginner at 16

(17:00) Syed’s 1st million at 21

(22:05) Buying gas stations

(28:20) Recurring revenue vs. Re-occurring revenue

(31:00) Heads I win, tails I don't lose (much)

(34:20) Mismanaged gems

(44:00) Business Idea #1: Content Agency

(46:00) Going from creator/operator to capital allocator

(51:30) Straight cash, homie

(55:30) Idea #2: AI Wrappers

(57:00) Idea #3: Freedom of Information Act Arbitrage

(1:00:50) Net worth breakdown

(1:03:15) Learning how to spend money

(1:06:40) Thoughts on buy vs. build

(1:09:00) Closing thoughts

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Links:

• Syed’s Company Site - https://awesomemotive.com/

• Syed’s Net Worth Article - https://syedbalkhi.com/what-is-syed-balkhi-net-worth/

• Clay - https://clay.com

• Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

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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.

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