Episode 486: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) talk with Syed Balkhi (https://twitter.com/syedbalkhi) about moving from Pakistan with no money to building a 9-figure WordPress empire before he turned 30. Learn why he turned down a $70M offer, why he bought a gas station as a baby shower gift, the difference between recurring revenue vs. re-occurring revenue, and much more.
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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/
Check Out Sam's Stuff:
• Hampton - https://www.joinhampton.com/
• Ideation Bootcamp - https://www.ideationbootcamp.co/
• Copy That - https://copythat.com/
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Show Notes:
(0:00) Intro
(7:00) Starts first business at 13
(12:00) Starts WPBeginner at 16
(17:00) Syed’s 1st million at 21
(22:05) Buying gas stations
(28:20) Recurring revenue vs. Re-occurring revenue
(31:00) Heads I win, tails I don't lose (much)
(34:20) Mismanaged gems
(44:00) Business Idea #1: Content Agency
(46:00) Going from creator/operator to capital allocator
(51:30) Straight cash, homie
(55:30) Idea #2: AI Wrappers
(57:00) Idea #3: Freedom of Information Act Arbitrage
(1:00:50) Net worth breakdown
(1:03:15) Learning how to spend money
(1:06:40) Thoughts on buy vs. build
(1:09:00) Closing thoughts
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Links:
• Syed’s Company Site - https://awesomemotive.com/
• Syed’s Net Worth Article - https://syedbalkhi.com/what-is-syed-balkhi-net-worth/
• Clay - https://clay.com
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Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.
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Other episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
• #218 - Why You Should Take a Think Week Like Bill Gates
• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More