My 6-Step Process To Find +$1,000,000 Business Ideas (#479)

No more small boy spreadsheets, build your business on the free HubSpot CRM: mfmpod.link/hrd
-
Episode 479: Sam Parr ( theSamParr) answers listener questions in this special Q&A episode. Learn how he researches & validates business ideas, what his hiring process looks like, how he’s managed to build huge, passionate communities (online + IRL) and much more.
-
Check Out Sam's Stuff:
• Hampton - www.joinhampton.com/
• Ideation Bootcamp - www.ideationbootcamp.co/
• Copy That - copythat.com/
Check Out Shaan's Stuff:
• Try Shepherd Out - www.supportshepherd.com/
• Shaan's Personal Assistant System - shaanpuri.com/remoteassistant
• Power Writing Course - maven.com/generalist/writing
• Small Boy Newsletter: smallboy.co/
• Daily Newsletter - www.shaanpuri.com/
Show Notes:
(00:00) Intro
(00:40) How Sam Researches Business Ideas
(9:45) Sam’s Health & Fitness Routine
(14:55) When to Embrace Shiny Object Syndrome
(19:00) How to be Interesting
(26:20) Why Loyalty is Everything
(28:45) How to Hire
(33:30) How to Build Community
(37:00) Tips to Start a Productized-service
-
Links:
• Similarweb - www.similarweb.com/
• Annual Reports - www.annualreports.com/
• Companies House - www.gov.uk/government/organisations/companies-house
• Central Athlete - www.centralathlete.com/
• MyBodyTutor - www.mybodytutor.com/daily-coach/
• ViralCuts - www.viralcuts.co/
---
For more quality videos subscribe here ➡kzbin.info/door/yaN6mg5u8Cjy2ZI4ikWaug
🔔 Turn on notifications to stay updated with new uploads
Like || Share || Subscribe

[@forty05]

IMO the q&a pods have more actionable content than many of the pods with guests. Keep 'em coming!

[@ericfromshuckabuck]

Agreed

[@3DPrinterAcademy]

Episode Notes: How to come up with business ideas: 1. Seek out what problems people have? 2. How many people have this problem? 3. Who are the leaders in the space? 4. What are the shortcomings of the leaders in the space? 5. Which business models are most effective? 6. What problems are not being solved? Tools: -See website traffic numbers: similarweb -Find insight with annualreports -UK Company revenue (government website): Companies House -Sam's Health advise: -Get rich, then get ripped. Shiny Object Syndrome: -You need to do one thing for an extended period of time. Paul Graham procrastination article. Shiny object syndrome is Based on fear. Take a 10 year view. How to be interesting: 1. Find your interests and/or passions 2. Consume information and be prepared to recall the important "hook". (wikipedia, books, tv shows etc) 3. Ask people "why do you think that?" 4. Learn how to tell stories 5. Constantly try to improve yourself 6. Say your (well thought out and researched) opinion. Strong beliefs, loosely held. How to hire: -"Come join me and you will be fishers of men". Be a collector of people. Host or create events to meet people. How to build a community: -You have to create FOMO (fear of missing out). Create intimacy with small groups. Seed the conversation.

[@Harpreet06]

Doing gods work my friend

[@eminvergil7997]

🎉 thank you

[@thankgodezeoffor8376]

Goat

[@tomjessessky]

Great episode, it’s great to let each host go solo and fully articulate his weird philosophies once in a while without the other (rightfully) poking fun. It’s a great format to spice things up!

[@3buzzy]

This is one of your best episodes. Ideation is a powerful tool. The section on working out and not making decisions on a daily basis is pure gold. Keep up the great work. I’m sharing this one with everyone.

[@3buzzy]

Ha ha ha! @-MyFirstMillionPod

[@mail22]

Bro, the lampshade is still crooked.

[@moneywisebyhampton]

ha

[@IanHobday]

Cannot unsee...

[@NateBear]

Tilt your head

[@trevor_osborn]

One job 😂

[@bobm8637]

But, must it be upright? 🙄

[@kortyEdna825]

Nobody can suddenly become prosperous financially. Although they did the background work, we mostly see the ultimate product. Fear is a harmful factor that prevents us from making the courageous decisions we need to make in order to achieve our goals. You have to deal with things like inflation, the recession, Fed policies, and more. In just a few months, I was able to add $289k to my portfolio.

[@shannonsally455]

I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value

[@carssimplified2195]

@Brilliantrans That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

[@carssimplified2195]

@Brilliantrans Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@itsanishjain]

Thanks, man! I have been listening to you guys for 6 months, and I have collected a few interesting people by applying Shaan's rule about "How to make that happen." Now, I am gonna apply this "take this call." This pod is a gem, Big W. That's the comment.

[@Johan.E]

What's Shaan's rule about "How to make that happen"? ;)

[@lsrothenrod5389]

Great question. Where can we find this talk?

[@Majorhavoktv]

I need friends like these, I broke with all my "old friends" they were always negative and had very bad habits and addictions. Better no company then bad company!

[@gigdg]

My favorite part was you talking about collecting people, great pod👍

[@Monas99]

Amazing episode Sam! Hearing uou talk about your loyalty to your dog and to the people closest to you, just made me respect you so much more. You just got a new sub- please continue the great job you're doing. Thank you for sharing your knowledge with the world. I really appreciate it.

[@moneysignclubboss]

Sam P, hey Sam what about an episode with your buddy on creating project plans and project charters! A lot of us understand what it means to get to an end result or even imagining a end result, but a lot of us want to understand the end-to-end methodology for making a business structure functional and operating

[@MrAndresnew]

This was insane. The actionable tips and just honest talk from Sam made this a wonderful episode. Even if Shaan talks more I think Sam when above and beyond today, it really reminded me what a great combo you guys are. Keep it going guys!

[@jsjoeio]

This was great! Favorite section was the loyalty one because I feel like it helped us get to know you a little better

[@ginagalligan9832]

Love these Q&A episodes Sam!! Please do more 👏🏻🙏🏻

[@shantanujoshi7566]

great episode fam mad heat after like a 50 episode binge

[@mylesjwilson]

This podcast is worth more than a business degree lol

[@barrylevy5875]

This was straight 🔥 🔥 🔥 One of my favourite episodes! Super actionable. Thanks Sam 🙏

[@integrity411]

Wow this is one of my favorite topics. I always wanted to sit in a room full of successful people to gain insight of how they think of business ideas, and this is the closest way to do it. Thank you for brainstorming your ideas to us. It makes me think of so many ideas. I think the hardest part is choosing one topic and focusing on that because sometimes you can try something maybe 3 times and then you may think it doesn't work and then you try something else but who knows if that 4th time you didn't try again you could've been successful.

[@sholao.1344]

I really enjoyed this. Thank you.

[@leejones8977]

This is super helpful!

[@edgarekohs]

Thanks for the great advice, I myself would like to be a better story teller and grow my network. Also much respect for your relationship with Sid. I got my first dog four years ago and he's my best friend. Sometimes I avoid leaving the house just to hang out with him. The thought of his lifetime happening within a few years makes me spend as much time as possible with him. Frenchies tend to have a short life.

[@AFreshWordOrg]

I am totally straight but I think I just fell in love with Sam. (In a brotherly way) When he was talking about loyalty along with the image of the dog that I saw on Instagram of his dog barely able to get up the stairs….really touched me. I hope my daughter marries someone like Sam.

[@moneywisebyhampton]

Love you too!

[@samgamewell]

Love this! ❤

[@spencerchubb]

I respect the dedication to work out at the side of the road on a road trip 😂

[@antfrag1]

This is Brilliant

[@Greg_Chase]

Dude, that before-and-after photo, congratulations! It's so much better for your heart health to not have excess weight. Once you're not walking around your university campus over 4 years to get to class on time, it is too easy to get sedentary. Arnold Schwarzenegger has a solution to staying on track: "I never questioned whether I should go to the gym on a given day. Going to the gym was something I just did." I use that. Never letting yourself question it because you have an ongoing long-term goal. Happy Holidays!

[@WatchME_DIY]

Love hearing about all these tools I’d never hear about otherwise.

[@jonjones8827]

Great q&a. Actually found it a bit short but still a great episode

[@mrpaulsadams]

Awesome episode. some great insights in here. Thanks Sam!

[@mrpaulsadams]

I love how a spam account calls out another spam account,. TOO FUNNY!😂

[@MrTobi4]

Love it thanks Sam

[@upsidedownChad]

I can't believe this content is free!

[@markrusso9235]

When I hear "Collector of people" I picture little people in jars on shelves and a giant walking around 😆

[@saadaqali7586]

Sam - Any company in the UK needs to be on companies not only 10m in revenue.

[@sophisticatedmorons]

Grateful for your content

[@sophisticatedmorons]

@-MyFirstMillionPod Thank you and I did !

[@antoan.s]

Awesome interview, we have a lot of similar habits.

[@stanleyrizzo]

Great episode Sam

[@ndovukubwa]

Regarding UK companies house filing, all UK registered LTD companies have to file regardless of the revenue size

[@hoosaindalvie9515]

My process follows trends related to searches on Google. If there are massive volumes and low competition to rank organically via SEO then that's an opportunity to build something, get it to rank on page 1 using SEO and eventually selling it off once you can prove thats it's generating business without any online marketing.

[@nuperspektive]

Thanks Sam

[@dimitrithomas]

what pods do u listen to???

[@patkenny20]

Sam, another great podcast just signed up for your idea boot camp... let's see how it goes...

[@dustinminch]

🎯 Key Takeaways for quick navigation: 21:04 Sam Parr's key strategies for being interesting: 26:52 Sam's loyalty to his dog, Sid: He believes in lifelong responsibility when you have a pet. 29:07 Building a great team or finding the first hire: Sam suggests being a collector of people, hosting events, and building a network. He leverages his connections and networks to find and engage with interesting individuals. 33:42 Tips for building a great community: 37:02 Insights on starting a productized service from scratch: Operationalize the service with a strict process, and focus on getting customers through effective marketing and partnerships. 38:57 Challenges in a people-oriented business like viral Cuts: Dealing with operational complexities and managing customer churn while scaling up. Made with HARPA AI

[@siddg8505]

Sam never disappoints !

[@siddg8505]

@-MyFirstMillionPod who the f*ck are u ? Pretending to be Sam, huh ?

[@guillermocebral4521]

GRACIAS

[@eugeniocg3079]

GOLD

[@mylesjwilson]

It’s a great morning

[@ozprimo]

Great post! Was feeling unmotivated until I watched this.

[@ozprimo]

I guess that was deleted. Now it looks like you’re talking about me 😳

[@ozprimo]

No worries, thanks for the quick response!

[@baloch4912]

I've been stealing lines from Sam and Shaan for a couple of months, everyone thinks I'm an intellectual, no one has caught on

[@Chris..........]

No small boy stuff

[@JasonValasek37]

Can you guys create an application process in which entrepreneurs can request you as a equity partners in exchange for promoting our business 🎉

[@sam1323123]

Anyone know what the VPN affiliate website is? Mentioned at 8:58

[@YEOTTI]

What does your setup look like??

[@AlaskaJiuJitsu]

Lets fooking go!!

[@007DFWAngel]

Sam ❤ the rapid fire 🔥 😂 ❤ Shaan is great but more rapid fire

[@imran_ashraf]

Hey sam love to know the U.K. vpn company’s name? Just very curious

[@devsinghnet]

Excellent episode, loved it! I do have one genuine question, which has nothing to do with the content. I was touched by what you said about your responsibility and loyalty to your dog and others closest to you, including Shaan. At the same time, you said his name quite a few times in this episode and I've never noticed to this extent the anglicized pronunciation of Shaan's first name and last name. I appreciate this is probably a really low priority thing for both of you to invest your attention on, but am curious if it's ever come up between you two? It doesn't bother me, but I definitely notice it every time. Totally none of my business and entirely up to Shaan to say or do anything or nothing about it, but am genuinely curious.

[@cartertune153]

I need the NFL combine results

[@nickt5252]

Mate awesome ep! Love the part on loyalty. Very true. You and shaan should expand on the ideas of creating a business around something you at least have some passion for vs chasing something that is hot right now

[@Michael_Shoe]

Hey Shaan, can you talk about your experience in Beijing while in high school and how that experience impacted you? just listened to an old episode on Aug 16, 2022 and thought the best way to hear from you would be to comment from the latest. Thanks! - Some random listener from Shanghai

[@DRockstill]

F'Awesome vid!!! Thanks for sharing what you look for in the earnings reports as far as companies short comings? I was wondering if you can share some of the books are your foundation for helping you start becoming the person you are today if that makes sense? For instance these are mine that were the pillars for helping me grow to be who I am today and I still reference them to this date, esp Dale Carnegie's books❤ Feel the Fear and Do it Anyway by Susan Jeffers Think and Grow Rich by Napoleon Hill Rich Dad Poor Dad by Robert Kiyosaki How to stop worrying and start living by Dale Carnegie (plus How To Win Friends classic)

[@ForrestSchwartzx]

I wanna see that 330 bench 👀

[@antoniolabrasca9069]

Your business will make you rich but investment makes and you keep you wealthy, we all deserve to be successful and have financial freedom

[@lovecricket6736]

​@alicemark5918You're right, it's obvious a lot of people remain poor due to ignorance

[@maxiecharles2842]

I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings

[@Marktinbury]

The one thing about being successful is working towards it and not the other way around

[@indiaculture5166]

​@@MarktinburyTrue

[@lasvegasluca9509]

Having a job doesn't mean security rather having different investments is the real deal

[@DerickJordanDJ]

There are great benefits that comes after investing in a reliable company

[@mooktakim]

FYI Companies House in the UK shows all companies accounts. Not just 10m+ rev

[@moneywisebyhampton]

Yes but i think, am not sure, that you can only see revenue numbers for anything above a certain size. Could be wrong though.

[@mooktakim]

@@moneywisebyhampton You can see yearly accounts and balance sheets for all companies. When you first register, you have 1.5 years to submit your accounts, unless you are dormant. In larger companies, you have other things. If the company owns properties (like a special purpose vehicle for property investment), you can see every single property that's been mortgaged. You get a lot of details, but all of it is summarised (hard to see the details), which isn't that useful for companies with no history, but very useful for larger companies.

[@theTenorDrummer]

Slash is the best

[@DeskCounter]

👍

[@KurtKobains]

Oof when he describes his former self as fat and disgusting with a flat stomach, meanwhile I'm over here 5'6" 240 lbs with a huge gut

[@fabcotechnologies489]

The fishermen are Simon and Andrew, Paul is not part of the twelve apostles, he converted after having met our Lord Jesus (post resurrection) while persecuting christians on the road to Damascus. (around 28:00)

[@fatboywins]

"When i was a single guy 14, 15" 😂

[@cactustree918]

People should stop saying “I am going totally butcher this name” and just say it as you read it.

[@GetUnlabeled]

Let's make magic then

[@musiclearning2983]

My goal is win 100.000, It may be impossible for me, but I believe it can be done.

[@mrudyeupp]

So Arnold Schwarzenegger shmeed Californians

[@jamesshields9079]

I just found a $1,000,000

[@TheDoughGetta]

No way he runs a 4.5 forty.

[@lsrothenrod5389]

Why don’t you really dive deep into news letters. How to: pick Lucrative topics, grow fast, make money, sell ext do you have a program for sale on this? Just news letters.

[@benjaminbrandon142]

From a psychological perspective you have convinced yourself into thinking that other people have no idea of what they’re doing to eliminate your own fears of people being better than you. Because you want to feel that you know better. So you excuse yourself by thinking that they have no idea of what they are doing Let me ask you: are you in the millions of people’s heads or minds to know that? That so bold of you to say. It’s important to be knowledgeable but don’t assume or put others down with your words, because that’s only in your head

[@clarklex3982]

If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance,but if you want to make your money work for you...prevent inflation

[@minidinusmark1794]

Trading with an expert is really beneficial. This will help you not to lose your money in the trading market.

[@clarklex3982]

Jane Roy is the woman I’ve been trading my coins with for the past few months I started with her last year

[@MrToxicboy]

Who is here from GIGL 🇮🇳

[@bastianrivero]

How are you people so motivated? Im tired of playing the human games 😂 running around like a headless chicken

[@moneywisebyhampton]

I don't think i'm inredibly motivated. I work the normal 40 hours a week most people do. I just try to be systematic about some things.

[@bastianrivero]

appreciate you taking the time to answer@@moneywisebyhampton

[@meredithelbert6608]

LOVE this!!!!, mindset is everything, and there's so many ways to make money online its ridiculous and in my opinion there's literally never been a better time to get started than now trading stocks, as for me the past few weeks has been literally printing me money! Especially since majority of people are stuck at home nowadays, so its a great time to double down on your focus while most people just lope around and watch Netflix.. use this time to build your empire!!! 💪🔥🤑

[@gagnecaron658]

The wisest thing that should be on every wise individual's list is to invest in different streams of income that don't depend on the government to bring in money especially now the pandemic is hitting the economy pretty hard.

[@stanleyfujiwara1394]

i said i was gonna get into this stock business this year but i can't seem to wrap my head around it, do you do this on your own ?

[@meredithelbert6608]

@@stanleyfujiwara1394 i've been working with someone who changed my idea about the stock industry and how it works..I invest with the guidance of Susan Kay Mack I came across her on an investment webinar, just search her name online to know more about her. She has a page you can reach her from there..

[@meredithelbert6608]

​@@stanleyfujiwara1394 2 years back i got the opportunity to get acquainted with a well known adviser by name Susan Kay Mack. i crossed the 7 figure threshold last month. she never ceases to amaze me.

[@abhayrohom]

Mild burps are common I guess.

[@naamandan]

The 12 Discifles of Jesus 😂

[@aminataykanu]

Grow up! He's not a Christian. I wish youtube picked who uses it. People like you shouldn't be allowed to

[@kkhdelivery6208]

You have already talked about all of these companies so repetitive

[@moneymakingsim4314]

NGL, I pray you guys don’t break up the Pod, but where is Shaan??…Love how you hold it down Sam, but the synergy that you guys have is undeniable.. #whereisshaan 😂😂😂

[@moneywisebyhampton]

just out of office. we each take a day off or two sometimes!

[@moneymakingsim4314]

@@moneywisebyhampton My apologies, it all LOVE! GREAT episode as always. So many gems. The research framework piece was amazing. Had to invest in the ideation boot camp. Appreciate everything you guys built. Hands down the BEST business pod in the game, bar none!! 💪🏼