How to Build a Community | My First Million #213

No more small boy spreadsheets, build your business on the free HubSpot CRM: mfmpod.link/hrd
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In this episode Shaan (@ShaanVP) and Sam (@theSamParr) break down community businesses and different ways you can build a community. They also talk about the law of reciprocity, the ad Sam wrote that competitors have stolen, and the importance of user generated content for digital ads. They end the episode talking about how technology will change construction sites and share a few Instagram accounts worth following.
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A podcast where we brainstorm new business ideas based on trends & opportunities we see in the market. Sometimes we have famous guests, and they do it with us.
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Show notes:
* (0:00) The law of reciprocity
* (6:12) What is Friends with Benefits
* (12:17) Why communities can be great businesses
* (14:19) How big can token backed communities be?
* (16:54) Soho House went public
* (19:06) Should MFM make a social token?
* (22:08) Set your data free
* (27:27) Communities of communities can be big businesses
* (28:45) User generated content & Sam's great ad copy
* (34:38) The hot girl side hustle
* (44:24) The future of construction sites
* (51:32) Remote arcade games
* (54:54) Some accounts to spice up your Instagram feed
* (57:52) The man behind Telegram

[@3pmnrg]

My father had a saying “I can’t afford free”, I have realized 90% of the time it applies. 😄

[@Channel60]

What kind of camera/software set up are you guys using?

[@Flips4Miles]

Another banger! Thanks guys

[@akshajshah7205]

I tried but couldn't find the ad. Does anyone have any links to the WSJ ad mentioned?

[@MikeWilliamsYoroomie]

Loved this episode and some great insights around communities!

[@IanHobday]

Friends with Benefits or other similar clubs might be an actual use for NFTs. The club could make them in a limited number, and could set a royalty on resale to maintain some income when they change hands.

[@lukemrsl]

Re self driving cars you should have a look at what tesla is doing with fsd beta 9. Pretty incredible, looks like they’re very close to solving it

[@EmbraceTerror]

I would call that the law of obligation. Gifts are (should be) just gifts -- no expectations of a return. The other is obligating someone to do something for you -- without coming clean that they have that expectation of you reciprocating (with an overpayment).

[@That_Guy_You_Know]

Wait is this where the beginnings of the idea behind Hampton came from?

[@otim]

Two days in a row! Noice.

[@parkerrex]

the boys are pumpin out content

[@sirg_k]

My kids watch Blipping and they don’t care about a different blippi at all! And in my opinion, if a company wants to switch an icon, they have to bring someone in that has a feel of an underdog but super competitive. I’d respect that. Except the gecko from geico, may the lizard live forever

[@sutats]

It's the way of the future, which is now restrospectively.

[@jessisbell9067]

You guys are pretty good. I help start ups get ready to be businesses and do bankability and investor readiness coaching. I've been thinking for a while about starting a community, but I'm not much of a content creator. What are your thoughts?

[@siliconpi]

Did you make progress on this?

[@nyustdent]

thats how drones are controlle.d...

[@itstravisfrench]

Roughly $10.00 SF/YR for a warehouse near winner winner.

[@mohamedaissat1910]

I find creating communities easy but making it pay is challenging.

[@jake.presents]

Instead of "making it pay", what if you asked what their problems are, then offer a solution

[@sankalpjain8046]

Do you know who wrote that, I wrote that, I actually stole it

[@ChetanRajputpoetry]

Communities are not a great businesses Sam Parr in 2024- 😂

[@panamaryan]

facebook is a community

[@theelites5642]

Despite the economic crisis, this is Still a good time to invest in Gold and Crypto

[@carl7318]

The rich spend less and invest more

[@bryant4426]

You're right I think Gold and Crypto are the best to invest right now☺️

[@shehusidindagi4765]

Gold's are good but crypto is better

[@wilson1097]

@Chung-cha chung-ho That won't bother you if you trade with a professional like Mr Patrick Nelson

[@carlotta7489]

I heard his strategies are really good

[@chrisbossman1978]

Watching this in January 2024 and some back to the future type wisdom. You guys and your channel are doing great and much better than even you could have expected and nft's are completely dead and have become the worst investment in the history of mankind