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#232July 16, 20211:01:44

#201 - Why You Should Spend 5x Your Budget on an Engagement Ring

About This Episode

Sam and Shaan explore the growing demand for digital privacy and the potential for unbundling Reddit communities like 'IKEA hacking' into profitable media brands. They brainstorm several niche business ideas, including marketplaces for wedding speeches and professional networks for specialized workforces. The episode wraps up with a discussion on life regrets and why spending significantly on family experiences provides the best long-term return on investment.

Episode Description

In this episode Sam (@theSamParr) and Shaan (@ShaanVP) break down different Micro-SaaS and P2P marketplace companies. They also talk about changes we'll see in advertising, a non-profit that is an alternative to Substack/Wordpress, and IKEA Hacking. They end the episode talking about when it makes sense to have an unlimited budget for something. --------- * 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

  • * (:49) Intro
  • * (2:00) What's going on with iOS privacy settings
  • * (8:59) The future of advertising
  • * (12:32) Ghost.org - Wordpress meets Substack
  • * (17:10) IKEA Hacking
  • * (28:39) The $400 million fitness influencer app
  • * (32:01) Micro-SaaS tools that help you win
  • * (37:25) BabyQuip.com - a P2P rental marketplace for parents on vacation
  • * (41:37) Teachers paying teachers
  • * (48:06) What regrets will you have at 90?
  • * (57:58) The unlimited travel budget

Key Takeaways

1

Unbundle massive Reddit communities into niche media properties by curating top content for platforms like Instagram to build a dedicated, monetizable audience.

2

The digital privacy market is set to explode as younger generations increasingly view data tracking as a violation, similar to how modern society views smoking in restaurants.

3

Prioritize aggressive spending on high-impact family experiences and major life symbols because the emotional ROI and long-term memories far outweigh the initial financial cost.

Business Ideas Mentioned

IKEA Hacking Content and Kits

Content & Media

Wedding Speech Template Marketplace

Marketplace

Professional Networking Platform for Teachers

SaaS

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Featuring

Hosts

SP

Sam Parr

Host

SP

Shaan Puri

Host

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Quick Stats

Duration1:01:44
Guests0
Ideas Discussed3
Topics0