Episode
5 Big Ideas for a Business with Greg Isenberg
1:23:55
Published: Thu Mar 31 2022
Description
Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) sit down with entrepreneur and venture capitalist, Greg Isenberg (@gregisenberg), to talk about big ideas for a new business and much more. ----- Links: * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter. * Will Smith slap: https://youtu.be/z4t1CC7-UFE ----- Show Notes: (02:30) - Reaction to Will Smith slapping Chris Rock (15:10) - Business Idea #1 (25:50) - Business Idea #2 (27:50) - Business Idea #3 (33:20) - Business Idea #4 (37:20) - Business Idea #5 ----- 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. ----- Additional 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
Chapters
Travis Chappell talks about how automation can help with tedious tasks and how it's essential for businesses to keep track of data.
00:00 - 02:50 (02:50)
Summary
Travis Chappell talks about how automation can help with tedious tasks and how it's essential for businesses to keep track of data. He also shares his experience in buying 95 acres of Arctic winter land.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
Two people are discussing a past event, one person mentioning a physical reaction to the event and the other questioning the details.
02:50 - 05:32 (02:42)
Summary
Two people are discussing a past event, one person mentioning a physical reaction to the event and the other questioning the details.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
This podcast transcript features a discussion on Louis C.K's father's day joke about the greatest moment for any father when he finally gets his child strapped into the car seat.
05:33 - 08:51 (03:18)
Summary
This podcast transcript features a discussion on Louis C.K's father's day joke about the greatest moment for any father when he finally gets his child strapped into the car seat.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
Jada Pinkett Smith and Will Smith discuss their past infidelities on her show Red Table Talk, with Will admiring Jada's long-time affair partner's physical appearance.
08:51 - 11:41 (02:50)
Summary
Jada Pinkett Smith and Will Smith discuss their past infidelities on her show Red Table Talk, with Will admiring Jada's long-time affair partner's physical appearance.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
This gym owner started by selling his own gym memberships for a high price point, but realized that teaching other gym owners how to do the same thing would be a better product.
11:42 - 15:05 (03:23)
Summary
This gym owner started by selling his own gym memberships for a high price point, but realized that teaching other gym owners how to do the same thing would be a better product. He now owns acquisitions.com, a company that buys other businesses and teaches gym owners how to increase revenue.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The key to sales is creating a grand slam offer that is so good the customer can't help but buy it.
15:05 - 20:09 (05:03)
Summary
The key to sales is creating a grand slam offer that is so good the customer can't help but buy it. This can be especially challenging for online retailers who struggle to make compelling offers for mundane products like shoes.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The speaker talks about reading a book about accounting and mentions it's like school, and he has a book club to discuss it.
20:09 - 24:19 (04:10)
Summary
The speaker talks about reading a book about accounting and mentions it's like school, and he has a book club to discuss it. He also talks about the importance of taking notes while reading and compares it to going to the gym.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The speaker describes a strange experience they had at a restaurant where they saw children playing with picture machines and vending machines.
24:19 - 26:44 (02:24)
Summary
The speaker describes a strange experience they had at a restaurant where they saw children playing with picture machines and vending machines. The speaker hints at a motive behind their transparency.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The speaker discusses using Apple pay to buy dogecoin and also references the service of Do Not Pay, which helps with parking tickets and incorrect payments, for a smaller fee than a lawyer.
26:44 - 30:54 (04:09)
Summary
The speaker discusses using Apple pay to buy dogecoin and also references the service of Do Not Pay, which helps with parking tickets and incorrect payments, for a smaller fee than a lawyer.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The speaker discusses the potential downside of making a donation to a cause that funds annoying phone calls to politicians, with the hope of marketing the donation process more effectively to millennials using tools like Milk Road and Lay Checkout.
30:54 - 36:34 (05:40)
Summary
The speaker discusses the potential downside of making a donation to a cause that funds annoying phone calls to politicians, with the hope of marketing the donation process more effectively to millennials using tools like Milk Road and Lay Checkout.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The speaker advises that it's smart to pay for business insurance and outsource tasks that are not your skillset to save time and money, citing examples of places where he spends money that could be more profitable if they were outsourced.
36:34 - 40:09 (03:34)
Summary
The speaker advises that it's smart to pay for business insurance and outsource tasks that are not your skillset to save time and money, citing examples of places where he spends money that could be more profitable if they were outsourced.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The speaker discusses a solution he found to turn email and Excel spreadsheets into a workflow for onboarding clients, which he believes is a problem that many businesses face each year.
40:09 - 43:56 (03:47)
Summary
The speaker discusses a solution he found to turn email and Excel spreadsheets into a workflow for onboarding clients, which he believes is a problem that many businesses face each year. He also raves about a helpful Ukrainian accountant who felt like an asset in his team.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The podcast discusses the difference between creating brand new products versus iterating on existing ones in the realm of technology and user interfaces.
43:56 - 49:32 (05:35)
Summary
The podcast discusses the difference between creating brand new products versus iterating on existing ones in the realm of technology and user interfaces.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The speaker discusses the transition from working in the gaming industry to running a family-friendly resort and the appeal of having a less intense lifestyle business.
49:32 - 56:14 (06:42)
Summary
The speaker discusses the transition from working in the gaming industry to running a family-friendly resort and the appeal of having a less intense lifestyle business.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The speaker talks about Michael's man cave and how he had turned his garage into it, without leaving space for his cars.
56:16 - 1:00:27 (04:11)
Summary
The speaker talks about Michael's man cave and how he had turned his garage into it, without leaving space for his cars. At a car repair garage, the speaker meets a guy who he had seen at a fair many years ago in Greeley, Colorado.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The speaker reflects on how they missed out on investing in several successful startups that they were using for their own company's software needs, making the realization that the value of a startup can far exceed a billion dollars.
1:00:27 - 1:04:13 (03:46)
Summary
The speaker reflects on how they missed out on investing in several successful startups that they were using for their own company's software needs, making the realization that the value of a startup can far exceed a billion dollars.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
In this episode, the speaker talks about the importance of strategy advice for early startups and how it can help them avoid taking unnecessary risks in a dog-eat-dog industry.
1:04:14 - 1:08:17 (04:02)
Summary
In this episode, the speaker talks about the importance of strategy advice for early startups and how it can help them avoid taking unnecessary risks in a dog-eat-dog industry.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
The host emphasizes the importance of assessing all risks when starting a business, and not solely relying on the advice given by influential figures such as Sequoia or Andreessen.
1:08:17 - 1:11:31 (03:14)
Summary
The host emphasizes the importance of assessing all risks when starting a business, and not solely relying on the advice given by influential figures such as Sequoia or Andreessen. Going against traditional norms can result in better lifestyle choices.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
Investing in a basket of startups may not provide as high returns as investing in already profitable cashflow businesses.
1:11:33 - 1:17:05 (05:32)
Summary
Investing in a basket of startups may not provide as high returns as investing in already profitable cashflow businesses. It is suggested to invest in a select few, without the need of deep research or knowledge, and hold them for a long period of time for better returns.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
There's a debate about whether operational experience outweighs a formal education or not.
1:17:05 - 1:22:08 (05:02)
Summary
There's a debate about whether operational experience outweighs a formal education or not. On the other hand lay the questions whether NFTs mark the future of collectibles or not.
Episode5 Big Ideas for a Business with Greg Isenberg
PodcastMy First Million
Greg Eisenberg suggests that entrepreneurs should consider growing an existing business before starting a new start-up solely for the sake of entrepreneurship.
1:22:08 - 1:22:54 (00:46)
Summary
Greg Eisenberg suggests that entrepreneurs should consider growing an existing business before starting a new start-up solely for the sake of entrepreneurship.