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#219June 23, 20211:05:00

#193 - How a $25 Million a Year Sweepstakes Business Works and S…

About This Episode

Sam and Shaan explore the mechanics of a $25 million-a-year sweepstakes business that leverages merchandise sales to build massive email and SMS lead lists. They discuss the disruptive potential of Oasis, an AI video tool that allows users to maintain a professional digital appearance regardless of their environment. Shaan also presents a series of 'time traveler' predictions, envisioning the future of major brands through autonomous delivery, AI-generated content, and personalized healthcare monitoring.

Episode Description

Shaan (@ShaanVP) and Sam (@TheSamParr) go in depth on how the Sweepstakes industry works, and Sam shares how they would use sweepstakes to grow the Hustle. The guys also discuss a business friendly take on deep fakes, a no-chicken chicken nugget, and how options contacts could work for startup founders. They end the episode with a long segment where Shaan predicts what the next version of today's big companies will look like. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. ---------

Show Notes

  • * (1:20) Recap of episode
  • * (6:36) Brick and mortar businesses
  • * (10:45) Losing millions with shipping delays
  • * (14:26) Oasis - a positive spin on deep fakes
  • * (23:23) Multi-million dollar sweepstakes businesses
  • * (36:39) How the Hustle thought about user acquisition
  • * (41:12) The chicken-free chicken nugget
  • * (44:09) Options contracts for startups
  • * (50:16) The Future: Shaan gazes into a crystal ball
  • * (51:13) The Future: Apple
  • * (51:56) The Future: Facebook
  • * (53:23) The Future: Amazon
  • * (54:31) The Future: 7/11
  • * (55:28) The Future: Netflix
  • * (56:55) The Future: Pornhub
  • * (57:53) The Future: Domino's
  • * (59:30) Episode close

Key Takeaways

1

Study business brokerage listings (like Quiet Light or Flippa) to deconstruct the P&L and growth strategies of successful, under-the-radar businesses.

2

Use sweepstakes and merchandise-for-entries models to acquire high-intent leads at a significantly lower cost than traditional digital advertising.

3

Look for 'magic trick' technologies that solve fundamental user pain points—such as Oasis recreates video via pixel coordinates to solve for low bandwidth and user self-consciousness.

Business Ideas Mentioned

Founder Future Investment Option Contracts

Creator Tools

Drone-Delivered Automated Cloud Corner Stores

Boring Business

AI-Generated Personalized Entertainment Platform

Content & Media

View all ideas

Guest Graveyard Mentions

RP

Ryan Peterson

DG

Dinis Grosz

DH

Dan Held

View guest graveyard

Featuring

Hosts

SP

Sam Parr

Host

SP

Shaan Puri

Host

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Quick Stats

Duration1:05:00
Guests0
Ideas Discussed3
Topics0