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#243August 6, 202155:49

#207 - How to Make Millions by Unbundling Etsy

About This Episode

Sam Parr and Shaan Puri discuss niche business opportunities like elevator fleet management and the potential for 'unbundling' Etsy by creating dedicated marketplaces for specific verticals. They also explore the rising trend of mental fitness versus mental health and the financial advantages of leveraging Canadian R&D tax credits for tech startups.

Episode Description

In this episode Sam (@theSamParr) and Shaan (@ShaanVP) break down a multi-million dollar opportunity to unbundle Etsy ($24B market cap). Shaan also shares how he would approach it if he were doing it himself. The guys also talk about the multi-billion dollar elevator industry, a training program to become an MMA fighter, and whether tax incentives make Canada an attractive place to run a startup. --------- * 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

  • * (1:10) Intro
  • * (3:30) The elevator industry
  • * (11:08) Unbundling Etsy
  • * (22:43) A crash course to become an MMA fighter
  • * (28:02) Mental Fitness
  • * (39:01) Moving to Canada + SRED credits
  • * (45:53) Reese Witherspoon's massive exit
  • * (51:45) Delta airlines meet Delta variant

Key Takeaways

1

Identify 'B-class' marketplaces like Etsy, Poshmark, or Airbnb to build analytics and data tools similar to Jungle Scout for Amazon sellers.

2

The 'Wimp to Warrior' business model demonstrates how to build asset-light businesses by licensing transformational programs to existing physical gyms.

3

Startups can significantly reduce burn rates by taking advantage of geographic arbitrage, specifically Canada's SR&ED tax credits which can reimburse up to 50% of engineering costs.

Business Ideas Mentioned

Elevator and Escalator Fleet Management

SaaS

Jungle Scout for Etsy and Poshmark

SaaS

Unbundled Etsy for Custom Gifts

Marketplace

High-Intensity Mental Fitness Boot Camp

Content & Media

View all ideas

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Quick Stats

Duration55:49
Guests0
Ideas Discussed4
Topics0