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#57March 6, 202055:31

#55 - Lead Gen Businesses, Islamic Finance & COVID-19 Virality

About This Episode

Sam and Shaan discuss the lessons learned from the failure of Justin Kan's startup Atrium and the 'curse of money' in venture capital. They brainstorm business opportunities in the natural hair care market and corporate gifting, while also dissecting the unique operational rules that make Trader Joe's a retail powerhouse.

Episode Description

Sam (@thesamparr) and Shaan (@shaanvp) talk ideas, news, trends and businesses. We've partnered with Rippling! The startup that gives you back your time from payroll to employee compliance, making it unbelievably easy to manage your company’s HR and IT – in one system. If you want to try it out, visit www.rippling.com. Also, we had a listener actually start building an idea mentioned in our last podcast with turning tithing digital. He's documenting his journey and uploaded a video to share with you all in our private FB group -- which you are free to join: www.facebook.com/groups/ourfirstmillion. Here's Paul Graham's awesome essay on Do Things That Don't Scale: https://paulgraham.com/ds.html For detailed show-notes Topics for today: Greetings in the corona world & viral trigger content (0:14), Our run the world event is canceled (1:09), Henry has a mic now... but he's leaving the pod (1:49), A listener is building the tithing app (3:47), Cursing in meetings (5:55), Curly girl hair (8:27), Workout app making $100m/year (12:45), Mixed race shampoo (14:13), Atrium closing down and what Justin said to Sam at Hustlecon (16:24), Paul Graham's Do Things That Don't Scale (22:45), Trader Joe's founder passing away and it's fantastic business (29:25), Hotel franchising (33:49), B2B Gifting (36:14), CEO's discussed actually listen to the pod (42:30), Q&A: What's your best SEO hack for a new website? (43:53), Q&A: How to make your podcast profitable? (46:47) and Best interview questions featuring Henry (49:02).  See acast.com/privacy for privacy and opt-out information.

Key Takeaways

1

Avoid the 'curse of money' by not raising excessive venture capital before achieving product-market fit, as it often leads to bloat and decreased agility.

2

Use the 'Rule of Reciprocity' in B2B relationships by sending small, personalized gifts to create a sense of obligation and increase closing rates.

3

To get honest feedback during reference checks, ask a former boss to rate a candidate from 1-10 and then ask what it would take for that person to become a 10.

Business Ideas Mentioned

Natural Curly Hair Care Kits

E-commerce

Slack Integrated B2B Gifting Platform

SaaS

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Guest Graveyard Mentions

FOMS

Founder of Mystery Science

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Quick Stats

Duration55:31
Guests0
Ideas Discussed2
Topics0