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#253September 3, 20211:04:21

#216 - Why Today Is the Day to Ask For a Raise

About This Episode

Sam and Shaan examine the economics of celebrity boxing and debunk the common myth that happiness plateaus at an income of $75,000, citing new research that shows life satisfaction grows with wealth up to $500,000 and beyond. They also explore the 'roll-up' investment strategy used by Wayne Huizenga and analyze the rise of Pacasso, a fractional real estate ownership platform.

Episode Description

In this episode Shaan (@ShaanVP) shares why you should ask for that raise and Sam (@theSamParr) pokes holes in the $75K happiness study. They also debate whether it is better to own the entirety of a smaller company or a piece of a bigger one. The two also talk about MMA fights and how you can package that appeal, the future of maps, and a fractional vacation home company. Sam also shares the story around Wayne Huizenga, this week's Billy of the Week. --------- * 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

  • * (1:48) Spending time in the Hamptons
  • * (3:11) The Jake Paul fight
  • * (6:59) The local MMA fight
  • * (11:00) Chasing the sensation of feeling alive
  • * (15:06) The $75K happiness study
  • * (19:50) How Shaan got insights on his teams wellbeing
  • * (24:08) The future of maps
  • * (34:10) Billy of the Week: Wayne Huizenga
  • * (44:48) Pacasso for your next vacation home
  • * (49:48) To own all of a small company or a piece of a big one
  • * (59:40) Ask for a raise today

Key Takeaways

1

Discard the $75,000 happiness plateau myth and recognize that increased income significantly improves life satisfaction and well-being up to at least $500,000 per year.

2

Utilize a 'roll-up' strategy in fragmented industries—such as moving companies or veterinary clinics—to build a massive enterprise by acquiring small mom-and-pop operators at fair prices.

3

Always ask for a raise or charge more for services because most large companies operate with 'compensation bands' that leave room for negotiation if a candidate or employee simply asks.

Business Ideas Mentioned

Real-time Slack Employee Happiness Dashboard

SaaS

High-Adrenaline VR Thrill Studio

Content & Media

National Moving Company Roll-up

Boring Business

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Guest Graveyard Mentions

SR

Spencer Rascoff

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Quick Stats

Duration1:04:21
Guests0
Ideas Discussed3
Topics0