My First Million
My First Million
Hubspot Media
#182 - How an Astrology App Makes $10m+, Why a Boxing Announcer is Worth $400m & Creating a Personal Monopoly
1 hour 3 minutes Posted May 14, 2021 at 10:00 am.
Shaan (@ShaanVP) and Sam (@TheSamParr) talk about an astrology app that has been creating controversy throughout Silicon Valley -- Sanctuary. VCs have come out against the app as pseudoscience, but the guys question their logic. These kinds of apps go into the bucket of "me-businesses" or businesses that tell the user about themselves. So from there, the guys brainstorm on ideas within this framework. The second half of the episode is focused on "personal monopolies" -- the concept of creating a big personal brand and monetizing it. We talk about a few people who have done it successfully and how you can too.---------* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/* Support the pod by spreading the word, become a referrer here: https://refer.fm/million* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.---------Show notes:*
The controversy behind an astrology app*
Brainstorming "make-it-about-me" businesses*
Shaan and Sam's "one-night stand" businesses*
Why you shouldn't overthink your idea*
Personal monopolies: Michael Buffer, Judge Judy, and Ryan Seacrest*
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Shaan (@ShaanVP) and Sam (@TheSamParr) talk about an astrology app that has been creating controversy throughout Silicon Valley -- Sanctuary. VCs have come out against the app as pseudoscience, but the guys question their logic. These kinds of apps go into the bucket of "me-businesses" or businesses that tell the user about themselves. So from there, the guys brainstorm on ideas within this framework. The second half of the episode is focused on "personal monopolies" -- the concept of creating a big personal brand and monetizing it. We talk about a few people who have done it successfully and how you can too.---------* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/* Support the pod by spreading the word, become a referrer here: https://refer.fm/million* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.---------Show notes:* (5:42) The controversy behind an astrology app* (20:18) Brainstorming "make-it-about-me" businesses* (28:40) Shaan and Sam's "one-night stand" businesses* (38:11) Why you shouldn't overthink your idea* (45:21) Personal monopolies: Michael Buffer, Judge Judy, and Ryan Seacrest* (54:57) Sam's Tim Ferriss story