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My First MillionMy First Million

The Richest People I Know Do One Thing

Episode 785: Shaan Puri talks to Nick Huber about the biggest bet he ever made and the mistakes he learned the hard way.

Shaan PurihostNick Huberguest
Jan 15, 202654mWatch on YouTube ↗

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At a glance

WHAT IT’S REALLY ABOUT

Nick Huber’s hard lessons: focus, hiring globally, and humbled growth

  1. Nick Huber describes being “humbled” after believing his personal brand and early wins made business easy, then seeing multiple ventures stall or shut down as conditions changed.
  2. He breaks down the structure of his acquisition of Somewhere, then lists the key mistakes and external shifts that hurt growth right after closing, including an SEO-killing rebrand and changes to social algorithms.
  3. He explains how he now hires globally—including executives—sharing a concrete DIY playbook using LinkedIn promotion, typing-speed screening, short intro videos, and task-based assessments.
  4. Both speakers argue that winning businesses typically rely on one strong revenue stream and one strong distribution channel, and that chasing multiple initiatives creates distraction and weak execution.
  5. Huber critiques the holdco/portfolio approach for most operators and shares concerns that today’s AI boom is overhyped, expensive, and constrained by rising energy costs.

IDEAS WORTH REMEMBERING

5 ideas

Nick Huber says he learned the hard way that business isn’t “easy,” especially after the market changed.

He described how earlier success and a strong online presence made him believe he could start “10-plus companies” and that customers would keep coming, but changing algorithms, tougher spending environments, and internal execution challenges made that belief costly.

The Somewhere acquisition exposed how fragile “free” distribution and brand momentum can be.

After buying Somewhere, he listed multiple immediate shocks: the domain/name change to Somewhere.com led to a major SEO drop, his Twitter-driven lead flow collapsed after algorithm changes, and new competitors entered as the space became more crowded.

Huber argues executive-level talent can be hired internationally “better and cheaper,” not just junior roles.

He said he used to think overseas hiring was mainly for repeatable tasks, but now hires international leaders (e.g., operations, performance marketing, finance) and keeps a small number of Americans primarily in sales/account management.

His hiring approach relies on high-signal filters (typing test + video + assessments) rather than interviews first.

He laid out a step-by-step funnel: run targeted LinkedIn job posts in specific countries with a set budget over a few days, use a typing-speed filter, require a one-minute intro video, and then use role-specific assessments to separate serious candidates.

They argue focus is a CEO’s job: say “no” to good ideas to scale the one that works.

Both speakers emphasized that strong businesses often hinge on one dominant revenue stream and one dominant distribution channel; they described the mistake of chasing many channels or initiatives instead of doubling down on what’s already working.

WORDS WORTH SAVING

5 quotes

I thought business was easy.

— Nick Huber

Smart people to know that, holy cow, we cannot grow a big company with this name. So we bought Somewhere.com for $400,000 shortly after closing Change the name from supportshepherd.com to somewhere.com. Our SEO, our search engine optimization, and our brand recognition vanished overnight.

— Nick Huber

In that one fell swoop, we lost 300 leads a month of ab- of about 1,000 leads that we had.

— Nick Huber

The job of a CEO sometimes is literally just to tell your team no and to get them focused on what's already working.

— Nick Huber

I slept in the office 224 days out of a year. I thought that was me grinding. Actually it was me highlighting to everyone, waving a flag saying, "I'm an idiot. I don't know, I don't know what to do."

— Shaan Puri

Read the available transcript
Somewhere acquisition and deal structureSeller notes, carry, and incentivesSEO traffic loss from rebrand/domain changeAlgorithm shifts reducing founder-led distributionInternational hiring playbook and screening heuristicsOne-channel/one-revenue-stream focusHoldco skepticism and operational complexity of multiple businesses

SPEAKERS

  • Shaan Puri

    host

    Co-host of the My First Million podcast and entrepreneur/investor who interviews founders about business strategy and deal-making.

  • Nick Huber

    guest

    Entrepreneur and investor behind Sweaty Startup and Somewhere.com, known for building and acquiring service businesses and self-storage real estate.

High quality AI-generated summary created from speaker-labeled transcript.

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