3 Genius Business Ideas We’re ’Borrowing’ From Syed Balkhi

Episode 553: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) talk to Syed Balkhi about the business ideas he would go after if he wasn’t already running WPBeginner. 

Watch Syed's $0 To +$100M story here: https://www.youtube.com/watch?v=gzHdrQ5pDFo

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) Intro

(3:30) Offshore bookkeeping

(6:00) Level it up with reseller and white label

(8:30) Sourcing your outsourced talent

(12:00) Barnacle on the Whale: Quickbooks plugins

(19:00) The most powerful idea of our generation

(22:30) X but open source (x= popular platform)

(27:30) Creating disproportionate value

(31:30) Flavors of capital funds

(39:30) Is $10-50M the perfect amount in the bank?

(45:30) First you own your things, then they own you

(47:30) The true cost of luxury

(52:30) Paid marketing vs. acquiring resellers

(58:00) Compounding goodwill is the best form of compounding

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Links:

• Syed Balkhi Twitter - https://twitter.com/syedbalkhi

• WPBeginner - https://www.wpbeginner.com/

• Appflowy - https://www.appflowy.io/

• Stability AI - https://stability.ai/

• Cal.com - http://cal.com/

• OSS Capital Twitter - http://tinyurl.com/ynvpmu7j

• Automattic - https://automattic.com/

• WooCommerce - https://wordpress.org/plugins/woocommerce/

• CleanShot X - https://cleanshot.com/

• GitLab - https://about.gitlab.com/

• Guy Spier - https://www.guyspier.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

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.—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 • #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • ​​​​#218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More