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My First MillionMFM #160: How to Build a Paid Community Making $20M a Year
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EPISODE INFO
- Released
- March 12, 2021
- Duration
- 1h 26m
- Channel
- My First Million
- Watch on YouTube
- ▶ Open ↗
EPISODE DESCRIPTION
No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd - The Hustle presents - My First Million. A podcast where we brainstorm new business ideas based on trends & opportunities we see in the market. Sometimes we have famous guests, and they do it with us. — Check Out Shaan's Stuff:
- Shaan's weekly email - https://www.shaanpuri.com
- Visit https://www.somewhere.com/mfm to hire global talent (like Shaan does) and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than their US equivalents.
— Check Out Sam's Stuff:
- Hampton - https://www.joinhampton.com/
- Ideation Bootcamp - https://www.ideationbootcamp.co/
- Copy That - https://copythat.com
- Hampton Wealth Survey - https://joinhampton.com/wealth
💰 Pitch your startup for a shot at a $1M investment with Sam Parr as the MC https://clickhubspot.com/pitch Links:
- Check out our website for more business ideas: https://link.chtbl.com/ShgOGhEpBQY_MFM_youtube
- Subscribe to the podcast if you’d like to listen instead: https://link.chtbl.com/Xo8Ke-A5
0:00 Intro 2:08 Tiger 21, a peer group doing 20m+ in revenue 18:13 Sole Savy, a sneaker community that started on Slack 21:04 What makes communities and paid groups work 24:03 Community ideas you can start right now 31:57 Why communities are great and how Shaan built one quickly and profitably 39:59 What is inertia and why it's stopping you 53:40 The Dave Selinger of Deep Sentinel interview 1:12:40 Dave applies the principles of Deep Sentinel for other sectors 1:19:02 Why Shaan and Sam might invest in Deep Sentinel #MFM
SPEAKERS
Sam Parr
hostCo-host of My First Million and entrepreneur behind The Hustle/Trends.
Shaan Puri
hostCo-host of My First Million; entrepreneur and investor focused on startups and audience monetization.
Dave Selinger
guestFounder of Deep Sentinel (home security); previously worked at Amazon and helped start Redfin.
EPISODE SUMMARY
In this episode of My First Million, featuring Sam Parr and Shaan Puri, MFM #160: How to Build a Paid Community Making $20M a Year explores Why paid communities print money—and how “human-in-loop” scales security Sam Parr and Shaan Puri break down why paid communities can be fast to launch, profitable with lean teams, and especially powerful when members either share high-value information or create value for each other.
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