Episode 571: Sam Parr (https://twitter.com/theSamParr) talks to Jason Lemkin (https://twitter.com/jasonlk ) talk about the 7 rules of building a $100M business.
Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5
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Show Notes:
(0:00) Jason Lemkin’s first million
(4:19) The rules of getting to a 9-figure exit
(5:32) Rule 1: New minimum is $400K per employee
(7:58) Rule 2: Go multi-product
(9:40) Rule 3: Your second product must be bigger than your first product
(11:05) Cheat code: Double your prices
(13:48) Rule 4: 30% of your revenue is international
(15:43) Rule 5: Localize your product
(19:05) Cheat code: Remove friction
(22:42) Rule 6: 100% net revenue retention
(29:01) Business models that won’t get you there
(33:38) $100M conferences
(39:35) Rule 7: Don’t raise double digit millions
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Links:
• Saastr - https://www.saastr.com/
• HLTH - https://www.hlth.com/
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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
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Check Out Shaan's Stuff:
Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd
My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano