Episode
#29 - Powder Diets, Instagrammable Experiences & Distribution First
1:08:25
Published: Wed Dec 04 2019
Description
The Hustle's My First Million presents: Million Dollar Brainstorm is back. Host Shaan Puri (@ShaanVP) and The Hustle CEO Sam Parr (@theSamParr) sit down and discuss what side hustles, trends and big business ideas that's keeping them up at night. This time, it’s live with you guys who came to the Trends meetup last Thursday and answered some of burning questions.They also explore this week powder diets, turnkey instagrammable moments, building products around the distribution & why Facebook groups is the place to be. See acast.com/privacy for privacy and opt-out information.
Chapters
HubSpot CRM is a one-stop-shop with all the tools businesses need to grow.
00:00 - 01:33 (01:33)
Summary
HubSpot CRM is a one-stop-shop with all the tools businesses need to grow. It helps automate tasks and keep track of important data to better serve customers and reach goals.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The speaker shares how networking helped them connect with investors and build relationships that led to friendships and business opportunities.
01:33 - 04:55 (03:22)
Summary
The speaker shares how networking helped them connect with investors and build relationships that led to friendships and business opportunities. They stress the importance of showing up and making connections even when you may doubt yourself.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The speaker discusses experiencing DDoS attacks on his entrepreneurial setup, and how it went on for months.
04:55 - 09:42 (04:46)
Summary
The speaker discusses experiencing DDoS attacks on his entrepreneurial setup, and how it went on for months. He also mentions how Periscope and Facebook Live have now made it easier for others to carry out similar attacks.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
In this transcript, the speaker talks about his own experience of having a private chef, a bar in their office space and how these luxuries are not the actual reason for the failure of the business.
09:42 - 14:07 (04:24)
Summary
In this transcript, the speaker talks about his own experience of having a private chef, a bar in their office space and how these luxuries are not the actual reason for the failure of the business.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The speaker encourages podcasters to act like they are doing a podcast about new ideas, in order to generate fresh and interesting content.
14:07 - 16:18 (02:11)
Summary
The speaker encourages podcasters to act like they are doing a podcast about new ideas, in order to generate fresh and interesting content. By taking notes of interesting stuff heard throughout the week, trends, and new business ideas, one can create more engaging episodes.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The speaker shares their thoughts on the "direct-to-consumer" category, highlighting the prevalence of white-labeled products with lower quality and higher prices.
16:18 - 20:23 (04:04)
Summary
The speaker shares their thoughts on the "direct-to-consumer" category, highlighting the prevalence of white-labeled products with lower quality and higher prices.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
A user graph presents a spike of users on launch day, but no new users afterwards, while the active users remain steady for three years straight, though it provides no significant value.
20:23 - 24:39 (04:16)
Summary
A user graph presents a spike of users on launch day, but no new users afterwards, while the active users remain steady for three years straight, though it provides no significant value. A discussion on analyzing user graphs to determine distribution strategies also ensues.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
Acquiring a customer is way more difficult than it seems because there are many inferior products that have great distribution, making it challenging to get your audience.
24:39 - 27:31 (02:51)
Summary
Acquiring a customer is way more difficult than it seems because there are many inferior products that have great distribution, making it challenging to get your audience. This podcast highlights some of the challenges that businesses have to face when acquiring clients.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The podcast discusses how Airbnb can provide alternative options for camping and going out into nature, without the usual effort and preparation involved.
27:31 - 31:04 (03:32)
Summary
The podcast discusses how Airbnb can provide alternative options for camping and going out into nature, without the usual effort and preparation involved.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The popularity of Instagram has created a demand for experiences that are not only consumer-friendly but also visually appealing and shareable on social media, from ear piercing to interactive museums.
31:04 - 34:44 (03:39)
Summary
The popularity of Instagram has created a demand for experiences that are not only consumer-friendly but also visually appealing and shareable on social media, from ear piercing to interactive museums.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The speaker discusses the culture around mall shops that sell low quality clothing, specifically mentioning a store like Claire's.
34:44 - 37:21 (02:37)
Summary
The speaker discusses the culture around mall shops that sell low quality clothing, specifically mentioning a store like Claire's. He compares it to the trendy fitness industry which he doesn't like.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The speaker argues that crowdfunding might not be a good business to invest in, as a company would need to make 20 times its revenue to be a billion dollar business, and people usually don't donate money.
37:21 - 41:01 (03:39)
Summary
The speaker argues that crowdfunding might not be a good business to invest in, as a company would need to make 20 times its revenue to be a billion dollar business, and people usually don't donate money.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The success of companies like Uber and Firefly is tied to the platform they operate on, but this can lead to vulnerability as the platform providers can decide to compete with them and take over their revenue streams.
41:01 - 43:07 (02:05)
Summary
The success of companies like Uber and Firefly is tied to the platform they operate on, but this can lead to vulnerability as the platform providers can decide to compete with them and take over their revenue streams.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The guest speaker discusses the business models of social media platforms and how platforms such as Facebook and Twitter have utilized user data and third-party apps to increase their enterprise value.
43:07 - 46:19 (03:11)
Summary
The guest speaker discusses the business models of social media platforms and how platforms such as Facebook and Twitter have utilized user data and third-party apps to increase their enterprise value. They predict that in the future more people will pay money on social media platforms such as Facebook, Instagram, and TikTok.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
This episode discusses the importance of building an escape velocity when utilizing platforms for growth, as relying solely on them can lead to failure.
46:19 - 50:40 (04:21)
Summary
This episode discusses the importance of building an escape velocity when utilizing platforms for growth, as relying solely on them can lead to failure. The guest speaker emphasizes the need to collect customer data outside of the platform for long-term success.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The option of buying an existing business and the idea of creating an online business through marketing strategies are undervalued paths to financial success.
50:59 - 57:58 (06:59)
Summary
The option of buying an existing business and the idea of creating an online business through marketing strategies are undervalued paths to financial success. Ideas about the flaws in the traditional way of achieving financial freedom through working at a job are also discussed.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The idea of solving a problem shouldn't be the sole reason for starting a company as people have flaws, and it may isolate those who don't feel a strong sense of purpose.
57:58 - 1:02:34 (04:35)
Summary
The idea of solving a problem shouldn't be the sole reason for starting a company as people have flaws, and it may isolate those who don't feel a strong sense of purpose. Some individuals start businesses because they relish the process of starting a business and then attempt to find different issues to tackle.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
The speaker discusses the challenge of advertising on a sports streaming platform where content consumption varies and may not align with the brand's target audience.
1:02:34 - 1:06:50 (04:16)
Summary
The speaker discusses the challenge of advertising on a sports streaming platform where content consumption varies and may not align with the brand's target audience. Additionally, there are concerns about inappropriate content as well as the need to appear "hip and cool" in order to attract viewers' attention.
Episode#29 - Powder Diets, Instagrammable Experiences & Distribution First
PodcastMy First Million
Discover a three-line test that can give you a quick insight into how someone thinks and their personal philosophy.
1:06:50 - 1:08:20 (01:29)
Summary
Discover a three-line test that can give you a quick insight into how someone thinks and their personal philosophy.