My First Million

Key Takeaways

The Eric Ryan Entrepreneurial Playbook: Find categories drowning in a sea of sameness, spot the macro trend incumbents are missing, then build the solution in that gap.
Relentlessly look for a cultural shift that a category has missed: The future is here, it is just not evenly distributed
If a category appears to take itself too seriously, then it is probably hiding something, and likely an opportunity to take advantage of in that space
The goal is to create an object of desire; take something that people have to buy and turn it into something that people want to buy
The entrepreneurial sweet spot lives at the intersection of familiarity and novelty; finding these intersections is the art form
The Power of Consumer Auditions: When you sit down with buyers, instead of trying to prove yourself, try to improve yourself and invite their feedback into your creative process
When building off a successful product, change one thing at a time – throw consumers one egg and they’ll catch it; throw three and they’ll drop them all
The Art of Simplification is the biggest hack in entrepreneurship: The best entrepreneurs take complex ideas and simplify them down; this makes it easy for the consumer to understand and for the team to execute against
If what you are working on is giving you energy back, then you are probably working on the right thing

Want the guide to spot $100M+ Product Ideas? Get it here: https://clickhubspot.com/hre

Episode 754: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) brainstorm $100M ideas with Eric Ryan ( https://x.com/ericthomasryan ).

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Show Notes:

(0:00) My $1B product playbook

(3:32) Look for a sea of sameness

(9:31) Trend trips

(15:27) Remix opposing ideas

(22:46) Case Study: Olly

(32:14) The State of Make

(37:54) IDEA: A better Metamucil

(44:34) IDEA: The SoulCycle of diners

(55:57) IDEA: White label chicken

(1:03:28) Holy Grail of Naming

(1:06:23) IDEA: Gourmet Babybels

(1:10:28) IDEA: fun shaped cheese

(1:14:26) Commit and then figure ou

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Links:

• Method - https://methodhome.com/

• Olly - https://www.olly.com/

• Welly - https://www.getwelly.com/

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Check Out Shaan's Stuff:

• Shaan's weekly email - https://www.shaanpuri.com

• Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents.

• Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies!

Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC

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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 HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

Brainstorming $100M Ideas with the $1B+ King of Brands

Podcast Notes Playlist: Startup