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My First MillionMy First Million

A No BS Guide To Making Your First $1,000,000

Episode 513: Shaan Puri (https://twitter.com/ShaanVP) answers the question he gets most often: If he was starting from scratch—and had no money in the bank—how would he make $1,000,000? No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd — Show Notes: (0:00) Intro (2:00) Optimize for your current phase (6:00) Identify your edge (12:00) Join a company or start a company? (15:00) Work on an A+ problem (19:00) Create luck (22:00) Service agency blueprint (28:00) Invest in yourself (31:00) Leaving a legacy — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com/ Check Out Shaan's Stuff: • Try Shepherd Out - https://www.supportshepherd.com/ • Shaan's Personal Assistant System - http://shaanpuri.com/remoteassistant • Power Writing Course - https://maven.com/generalist/writing • Small Boy Newsletter - https://smallboy.co/ • Daily Newsletter - https://www.shaanpuri.com/ For more quality videos subscribe here → https://tinyurl.com/46rjnckx 🔔 Turn on notifications to stay updated with new uploads Like || Share || Subscribe

Shaan Purihost
Oct 30, 202334mWatch on YouTube ↗

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At a glance

WHAT IT’S REALLY ABOUT

Shaan Puri's Blueprint for Building a Million From Scratch

  1. Puri argues age is irrelevant to starting over and recommends a 'white belt' offensive mindset, organizing a career into learn, earn, and legacy phases.
  2. During the learn phase he advises dabbling, using beginner edges like being helpless, having time and nothing to lose, and finding a personal 'bear on a unicycle' combination of strengths.
  3. He says to pick projects that put you around the smartest, most ambitious people, work on the company's 'A+ problem,' and create luck through action and publishing your thoughts.
  4. His concrete plan is a productized service agency with about 10 customers paying $10,000 a month, which he'd then sell for roughly four times profit.
  5. Rather than investing small sums in markets, he says to invest in yourself by buying back time, buying knowledge and proximity, and leaving money on the table for better opportunities.

IDEAS WORTH REMEMBERING

5 ideas

Age is an irrelevant constraint

Puri says that if you're broke, it's day one regardless of whether you're 21 or 41, and he found that dropping the feeling of being behind helped him play offense.

Optimize for learning early on

In the learn phase, he says the key metric is how much you grow per month, so a job with better learning and smarter people beats one paying $15,000 more.

Beginner disadvantages are actually edges

Being small and helpless makes people willing to help you, and having free time and nothing to lose lets you take risks that established people can't.

Find a unique combination of strengths

Using Chris Williamson's 'bear riding a unicycle' idea, Puri says to overlap two or three traits, as he did by combining business success with being entertaining to create the podcast.

Always work on the A+ problem

Whether at a startup or a large company, he says to find the most important problem at that moment and work on it, as he did by writing a memo to Twitch's CEO after the loss of Ninja.

WORDS WORTH SAVING

5 quotes

You should always have the belief that my whole world is in front of me, that my best days are ahead of me, that anything is possible, and that I can reinvent myself right now.

— Shaan Puri

You don't wanna be well-known. You wanna be known well.

— Shaan Puri

Being small and helpless is a absolute edge that most people who are unsuccessful try to hide.

— Shaan Puri

You're not trying to change, you're using change to find the thing that you are uniquely capable of.

— Shaan Puri

Luck is not something that happens to you. It is something that you can create and increase the odds of happening in your life.

— Shaan Puri

Learn, earn, legacy career phasesDabbling instead of committing earlyThe loser's edge and personal edgeWorking on the A+ problemFour levels of luck and content creationService agency blueprintInvesting in yourself vs. markets

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