Episode

#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
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59:13
Published: Wed Nov 18 2020
Description

Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) host today's podcast. They discuss: - The business of spy gear and home security - The importance of leverage in business, which business models are best and taking zero market fit risk - A company profiting by saving the planet - Is Elon Musk the greatest dropshipper of all time? - Parler is creating a free speech Twitter with the backing of conservative billionaires - How WinRed is raising millions for the Republican Party and profiting - Quindl, the Pinduoduo for India and who will build America's Pinduoduo Thank you to our sponsor this episode, EPOS! EPOS are fantastic headsets that make it easy to work flexibly across situations and locations, with portable headsets including hassle-free device compatibility. If you are an IT manager running a big department or a head of a growing company looking to give your employees the best headset solution to work from home, check out eposaudio.com/millions for a free trial! Companies mentioned: - https://www.spyguy.com/ - https://www.deepsentinel.com/ - https://parler.com/auth/access - https://winred.com/ Have you joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion.  See acast.com/privacy for privacy and opt-out information.

Chapters
HubSpot CRM is a comprehensive platform that provides businesses with all the necessary tools to automate tasks and streamline sales processes.
00:00 - 01:10 (01:10)
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HubSpot CRM
Summary

HubSpot CRM is a comprehensive platform that provides businesses with all the necessary tools to automate tasks and streamline sales processes. It is easy to use and comes with a free version, making it a popular choice for many growing businesses.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
The retailer offers audio surveillance, bug detection and hidden camera detection equipment for travelers and personal use, and the founder was inspired by Tim Ferriss' 4-hour work week.
01:10 - 04:50 (03:40)
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Surveillance equipment
Summary

The retailer offers audio surveillance, bug detection and hidden camera detection equipment for travelers and personal use, and the founder was inspired by Tim Ferriss' 4-hour work week.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
Simply Safe is one of the newer players in the pro surveillance software game, and they have an advantage in name recognition and marketing.
04:50 - 08:37 (03:46)
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Surveillance Software
Summary

Simply Safe is one of the newer players in the pro surveillance software game, and they have an advantage in name recognition and marketing. While they currently cater to homes, their model could easily be scaled up to meet the needs of businesses and warehouses.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
This podcast discusses the evolution of a business model from solely selling other people's products to creating your own.
08:37 - 13:25 (04:48)
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Business Model
Summary

This podcast discusses the evolution of a business model from solely selling other people's products to creating your own. The podcast host compares his all-digital, low-cost business model to the events business of HustleCon and highlights the benefits of product creation.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
The key to building a successful media business is creating daily content that people trust and are willing to pay for.
13:25 - 18:08 (04:42)
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Media Business
Summary

The key to building a successful media business is creating daily content that people trust and are willing to pay for. Hustle has done this well by having writers who can produce the same quality content as the founder and CEO, leading to a high level of trust from its audience.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
The speaker and his investor friend take zero product market fit risk, meaning they invest only in solutions that have high demand from their target consumers, having no doubts about their success in the market.
18:08 - 22:56 (04:48)
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Investing
Summary

The speaker and his investor friend take zero product market fit risk, meaning they invest only in solutions that have high demand from their target consumers, having no doubts about their success in the market.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
In this episode, the host discusses the concept of product market fit and how it is not just about being better or cheaper, but finding the right combination of both.
22:56 - 25:56 (03:00)
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Product Market Fit
Summary

In this episode, the host discusses the concept of product market fit and how it is not just about being better or cheaper, but finding the right combination of both. Using an example of a company creating a new supersonic airplane, the host explains how the company is not just focused on being faster or cheaper, but striking the right balance to appeal to the market.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
A new material called air carbon is being used to create products such as phone cases and purses, and is better than plastic for the environment.
25:56 - 29:26 (03:29)
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Environment
Summary

A new material called air carbon is being used to create products such as phone cases and purses, and is better than plastic for the environment. Despite high recycling rates of over 90%, most of the material sent for recycling is eventually thrown away.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
The combination of a high impact mission, beautiful business model, and large market size can lead to successful and sustainable business ventures, especially in the space of carbon offsetting.
29:26 - 33:19 (03:52)
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Business Ventures
Summary

The combination of a high impact mission, beautiful business model, and large market size can lead to successful and sustainable business ventures, especially in the space of carbon offsetting. Elon Musk's flamethrower is an example of a profitable product that has helped offset the company's carbon footprint.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
The strategy of branding with commodity products can help build a brand's fan base while selling products for higher prices as novelties.
33:19 - 37:14 (03:55)
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Branding
Summary

The strategy of branding with commodity products can help build a brand's fan base while selling products for higher prices as novelties. Snapchat, Twitch, and TikTok are among the brands that could execute this strategy.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
A popular new app with celebrity investors has become slammed with hundreds of thousands of users, leading to login issues.
37:14 - 43:24 (06:09)
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App Development
Summary

A popular new app with celebrity investors has become slammed with hundreds of thousands of users, leading to login issues. The identity of the main investor is unknown, causing confusion and mystique.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
The use of aggressive email marketing tactics in politics, specifically from conservative and conspiracy driven websites, such as Breitbart, is targeted towards an audience of old white people who have a fear of being robbed or cheated.
43:24 - 49:20 (05:55)
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Email Marketing
Summary

The use of aggressive email marketing tactics in politics, specifically from conservative and conspiracy driven websites, such as Breitbart, is targeted towards an audience of old white people who have a fear of being robbed or cheated. These emails often break design conventions and have features such as dancing buttons and loud colors.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
The group buying approach, where users are incentivized to form buying teams or groups, can be an effective way for companies to acquire customers at a low cost while providing significant discounts to buyers.
49:20 - 53:18 (03:57)
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Group Buying
Summary

The group buying approach, where users are incentivized to form buying teams or groups, can be an effective way for companies to acquire customers at a low cost while providing significant discounts to buyers. Customer acquisition is often the most challenging part of business, and this innovative approach can help overcome that challenge.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
The practice of group buying for physical products is cheaper as companies do not have to spend on marketing expenses.
53:18 - 57:32 (04:14)
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group buying
Summary

The practice of group buying for physical products is cheaper as companies do not have to spend on marketing expenses. However, this strategy is not applicable to digital products with zero cost of goods sold.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million
The use of Slack bots to monitor customer reviews and purchases is a more efficient way to track feedback instead of checking a dashboard.
57:32 - 58:13 (00:41)
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Customer Feedback
Summary

The use of Slack bots to monitor customer reviews and purchases is a more efficient way to track feedback instead of checking a dashboard.

Episode
#129 - Why Elon Musk Is the Greatest Dropshipper and A Low Key Company Making Millions From Politics
Podcast
My First Million