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#108August 26, 20201:02:59

#104 - Why You Should Be Studying MLMs

About This Episode

Shaan and Sam debrief their polarizing interview with Tai Lopez and explore the 'modernize the boring' business framework. They brainstorm new ventures including trade associations for the gig economy, high-end radar detectors, and corporate training content licensed from popular entertainment brands.

Episode Description

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.Sam Parr (@theSamParr) and Shaan Puri (@ShaanVP) host the pod today without a guest. In today’s episode you’ll hear: Shaan and Sam recap their previous episode with Tai Lopez and reflect on some of the feedback received from the listeners (1:08), Sam asks Shaan what he knows about trade associations (12:05), Shaan finds new ways to add value with trade associations for groups that traditionally don’t have them (18:35), both guys explore boring household products that could be made cool, like the Nest thermostat (24:40), Shaan walks through his renewed interest in licensing brands (31:05), Shaan and Sam explore brands that have the surprise effect and the genius of that mechanism (38:45), Shaan shares one of his secret tricks in mimicking MLMs (45:18), Sam talks through his next travel designation (48:05), Shaan’s fitness trainer is a force for optimism in his personal life (51:18). This episode is presented by Tempo! Check them out at tempo.fit and use code "TempoHustle" for $100 off. 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.

Key Takeaways

1

Study Multi-Level Marketing (MLM) companies to identify which products have massive consumer demand, then build high-quality, non-MLM versions of those products.

2

Look for 'beautiful businesses' like trade associations that offer simple value, high defensibility via network effects, and recurring subscription revenue with low innovation requirements.

3

Target outdated household gadgets with 'bad UX' (like radar detectors or pool chemical sensors) and apply modern design and smartphone connectivity to disrupt the market.

Business Ideas Mentioned

Trade Associations for the Gig Economy

Boring Business

Modernized High-End Radar Detectors

E-commerce

IP-Licensed Corporate Training Content

Content & Media

Gacha-Style Consumer Goods

E-commerce

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Guest Graveyard Mentions

GC

Grant Cardone

RS

Ramit Sethi

FOO

Founder of OnlyFans

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Quick Stats

Duration1:02:59
Guests0
Ideas Discussed4
Topics0