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My First MillionMy First Million

6 Profitable Business Ideas You Should Start in 2022

Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) talk about six businesses that you can start right now.

Shaan PurihostSam Parrhost
Apr 23, 202222mWatch on YouTube

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CHAPTERS

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Chapter summaries

  1. Milo Again: Reviving a Local Inventory Search Engine

    Shaan Puri pitches bringing back Milo, a search engine that showed which nearby stores had a product in stock. He and Sam Parr describe the pain of checking store sites one by one and why stores would want the foot traffic.

    • •Milo let users search for a product and see which nearby store had it in stock; eBay bought it for about $75 million
    • •Checking Home Depot, Lowe's, Walmart and others one by one is slow and frustrating
    • •The hard part is integrating with stores' real-time inventory systems, but sending foot traffic is a strong reason for them to cooperate
    • •Shaan suggests restarting companies that were acquired and then faded inside a big company
  2. Ad Model Alignment and Asking the Founder

    Sam explains why he likes advertising models that aren't tied to publishing, using per-click or per-view payments on a high-traffic site. Shaan frames the next ideas as loose "good bad ideas" and says founders' warnings about a space are worth examining but not simply obeying.

    • •Sam dislikes publisher advertising because advertisers can sway what you say, but likes the alignment of per-click or per-view ads on a traffic site
    • •They consider emailing Milo's founder to ask whether the idea would work again
    • •Shaan says founders carry scar tissue and usually say "don't do it"
    • •The useful part is their reasons, and whether those still hold true
  3. A Branded Waiting Room Experience for Zoom

    Shaan describes the in-person experience of waiting in a cool office before a meeting and argues Zoom needs an equivalent waiting room. Sam shares a call where a teaser video played before the meeting and notes Zoom's blank launch page as wasted real estate.

    • •Offices persuade visitors before a meeting through art, awards, a greeter and a funny bathroom sign
    • •Shaan wants a branded virtual waiting space, possibly built on top of Zoom, that reflects who the host is
    • •Sam saw a company play a teaser video before a call and felt psyched up
    • •Zoom's blank "open Zoom" page gets huge traffic, which Sam says could be worth hundreds of millions in ads
  4. A B2B Spencer's to Give Your Office Personality

    Shaan pitches a business-to-business version of Spencer's that sells items to make an office feel fun and distinctive, like Botox for company personality. They trade anecdotes about branded water bottles, an IPO exit sign, and Shaan's boxed water at Twitch.

    • •The product line covers common office items such as bathroom signs, exit signs, meeting room items, sign-in mats and toilet paper
    • •The pitch is taking the common and doing it uncommonly
    • •Sam remembers VaynerMedia's branded water bottles as a quirky detail that stood out
    • •Shaan recalls fumbling with boxed water during a company-sale meeting at Twitch
  5. Discord Property Managers

    Shaan proposes an agency that professionally manages companies' Discord servers, which are noisy and full of spammers and confused newcomers. Sam compares it to VaynerMedia's early community-manager model, and they discuss David Spinks being early with community roles.

    • •Many Discords, especially in crypto, are noisy and hard to navigate
    • •The idea is a flat-fee agency branded as the best at managing digital property
    • •Sam says VaynerMedia grew by being early at handling social media with community managers
    • •David Spinks's CMX bet on community as a C-suite function but was too early, which Shaan says is the same as being wrong
  6. Fit Furniture

    Shaan shares an idea he borrowed from a sports podcast: furniture designed to fit through standard doorways. Sam relates it to Lovesac's modular couches and his own struggle furnishing an Airbnb with a spiral staircase.

    • •Shaan says the first of two ideas comes from a guest on Bill Simmons's podcast who pitches half-baked ideas
    • •Fit Furniture wouldn't be the highest quality or cheapest, but it would fit through doors
    • •Sam says Lovesac now pitches modular furniture that fits through doors
    • •Sam ended up buying a futon because he couldn't get a couch up the spiral stairs without spending over $5,000
  7. Bulletin Board Material: Haters as a Service

    Shaan pitches a service for people who lack a chip on their shoulder, delivering filtered criticism and doubt as weekly motivation. Sam and Shaan joke about staffing it with immigrant mothers, then wrap up with Sam saying his ideas are all straightforward money-makers.

    • •The target customer is someone who grew up in a supportive home or has lost their edge
    • •The service compiles criticism of the customer, filters out the truly toxic parts, and sends it weekly
    • •Sam jokes about hiring immigrant mothers to nag customers
    • •Sam says his ideas are all legitimate money-making ones, unlike Shaan's drunk ideas

Publisher timestamps

  1. 0:10Business Idea 1: Milo Again
  2. 6:05Business Idea 2: Waiting room experience for Zoom
  3. 8:45Business Idea 3: Give me a personality
  4. 13:00Business Idea 4: Discord property managers
  5. 16:30Business Idea 5: Fit furniture
  6. 18:40Business Idea 6: Bulletin board material

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