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#110September 2, 20201:19:31

#106 - The Q&A Special: We Answer Your Questions Live

About This Episode

In this Q&A special, Sam and Shaan answer live questions from the Trends community regarding business research, the benefits of buying existing companies, and specific advice for new ventures. They discuss tactical research methods like contacting ex-employees and provide feedback on listener ideas ranging from mental health apps to local towing directories.

Episode Description

Today’s episode is a Q&A from the archives. Sam Parr (@theSamParr) and Shaan Puri (@ShaanVP) host a Q&A on the one year anniversary of Trends. In today’s episode you’ll hear: Sam talks through how to research topics and businesses (5:15), Shaan answers Sam’s question “what’s a contrarian opinion you hold?” (9:45), Shaan talks about where an entrepreneur should focus their energy (20:52), a lister asks “what’s one thing that you believed that ended up completely opposite?” (25:38), Sam talks about one of the lead gen companies he sold (31:40), Sam and Shaan do a rapid fire questions (35:45), A listener asks about shipping logistics (56:30), Sam and Shaan weigh in on how to adapt your business to COVID (67:30). 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

Acquisition Entrepreneurship: Buying an existing business with an SBA loan is often a lower-risk and more immediate path to wealth than starting a company from scratch.

2

Information Asymmetry Research: Use scrappy techniques such as calling ex-employees or comparing beginning-and-end-of-month order numbers to uncover competitor revenue data.

3

Branding as the Ultimate Moat: In commodity markets like bottled water or protein bars, differentiation comes from specific demographic targeting and brand identity rather than product features.

Business Ideas Mentioned

Remote Work Compliance and Entity Setup

Boring Business

International Business Model Intelligence Newsletter

Content & Media

Secure Vertical Messaging for Law Enforcement

SaaS

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Quick Stats

Duration1:19:31
Guests0
Ideas Discussed3
Topics0