Episode 599: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) talk about the best traits of a startup founder and lessons from how Dana White, Elon Musk, and Emmett Shear cut through the bullshit.
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Show Notes:
(0:00) Top traits founders should take from Dana White
(5:35) 1 - Brute force
(10:21) 2 - Extreme bias for action
(14:55) Quick audit of Dana White's gambling claims
(18:00) 3 - Speed
(19:00) Checklist for a perfect niche event business
(22:56) IDEA: The Beer Mile
(24:45) IDEA: Paddle Prison Break
(25:47) IDEA: Skyline Scramble
(30:17) Growth vs EBITDA vs cash flow
(32:27) Shaan's Guide to Increase EBITDA
(34:19) Step 1: create a EBITDA budget
(37:08) Step 2: communicate the plan relentlessly
(37:48) Step 3: Track and report
(38:04) Step 4: Tie into incentives
(38:30) Step 5: Repeat every 30 days
(40:02) Next stage: Cash flow
(41:28) The benefit of playing on Hard Mode
(43:38) Is e-commerce dead?
(44:54) Shaan's $30M dollar dream house
(47:56) Shaan writes an essay
(49:43) Sexier core principles
(1:00:53) Culture: What people do when the boss isn't around
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Links:
• Shaan Puri essays - https://www.shaanpuri.com/essays
• Brunello Cucinelli - https://shop.brunellocucinelli.com/
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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
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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
• Sam’s List - http://samslist.co/
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