Finding +$1M Businesses From Weird Trends | My First Million

Intro

In this episode of the “My First Million” podcast, the hosts discuss various strategies for finding and building million-dollar businesses from weird trends. They cover topics such as reinventing oneself, the importance of appearance and demeanor, success stories of entrepreneurs, and emerging trends in education and the supplement industry.

Main Takeaways

The “One Chart” Business Strategy

• Simplify your business idea into one chart instead of over-analyzing it.

Reinventing Yourself for Success

• Law #25 from “48 Laws of Power” by Robert Greene suggests reinventing yourself with a powerful new image that stands out and draws attention.
• Success story of Brett Taylor, who reinvented himself and achieved success in various ventures.
• Adapting to company needs and evolving demeanor and dress can lead to career growth.

Conversations at Billionaire Dinners

• Discussions at billionaire dinners focus on non-financial topics and unique experiences.
• Humor and storytelling play important roles in these events.
• People who have achieved success at the highest level care about a variety of experiences and non-financial related things.
• Topics of conversation change based on age and net worth.

Building a Reputation and Image

• Reputation building requires discipline and attention to detail, from dress to website design.
• Josh Kushner is an example of someone who successfully built a reputation without flexing.
• Consistent actions shape an image and reputation.

Alternative Money Paths

• Traditional money path involves starting a company, selling it, and becoming a VC.
• Alternative money path involves reinventing oneself and pursuing passion projects.
• Examples of successful individuals who followed alternative money paths.

Trends in Education: Micro Schools

• Homeschooling and micro schools are growing trends in education.
• Micro schools consist of a small group of families hiring a private teacher to create their own private school.
• Primer provides an operating system for micro schools, making it easier for teachers to operate.
• Micro schools offer a more personalized and nurturing education experience.

Opportunities in the Supplement Industry

• The supplement industry is a profitable e-commerce business with high margins.
• Creatine and gut health supplements are popular and offer opportunities for innovative packaging and marketing.
• Supplements have a fantastic exit market and can easily go into retail.

Summary

Reinventing Yourself and Building a Reputation

The podcast highlights the importance of reinventing oneself and adapting to company needs. Examples of successful individuals like Brett Taylor and Josh Kushner demonstrate the impact of evolving appearance, demeanor, and image. Building a reputation requires attention to detail and consistent actions.

Alternative Money Paths and Success Stories

The podcast explores alternative money paths, showcasing individuals who have achieved success through reinvention and pursuing passion projects. Traditional money paths involve starting a company, selling it, and becoming a VC. However, alternative paths offer opportunities for unique experiences and non-financial pursuits.

Trends in Education: Micro Schools

The hosts discuss the growing trends of homeschooling and micro schools. Micro schools, consisting of small groups of families hiring private teachers, provide a more personalized and nurturing education experience. Companies like Primer offer operating systems to support the operation of micro schools, making it easier for teachers to create their own private schools.

Opportunities in the Supplement Industry

The supplement industry presents lucrative opportunities for e-commerce businesses. The hosts discuss the popularity of supplements like creatine and gut health products. Innovative packaging, marketing, and addressing specific consumer needs can lead to success in this industry.

Conclusion

From reinventing oneself to exploring alternative money paths and capitalizing on emerging trends, this episode of “My First Million” provides valuable insights for entrepreneurs seeking success in unconventional ways. The discussions on building a reputation, trends in education, and opportunities in the supplement industry offer actionable strategies for listeners looking to identify and capitalize on weird trends.