$10M+ Business Ideas: Tractors, Toastmasters & Franchisees (#450)

Entrepreneurship and Community

In this section, the speakers discuss entrepreneurship and the importance of community in achieving success.

The Importance of Community

• At the beginning of the show, the speakers ask attendees to raise their hands if they are entrepreneurs. They then ask those who have launched their business to keep their hands up, followed by those who have made over $100,000 in revenue. This exercise highlights how few people make it past certain milestones in entrepreneurship.

• The speakers continue to ask attendees about their revenue levels until they reach $30 million. This exercise is meant to identify successful entrepreneurs in the audience.

• The speakers reflect on how important it is for entrepreneurs to be around other like-minded individuals who are also chasing their dreams. They suggest that moving to a city or town where there is a community of entrepreneurs can help individuals get smarter faster and form lasting bonds with others.

Building Relationships

• One speaker reflects on his recent trip to Austin, Texas where he spoke at two conferences and caught up with old friends. He notes that he felt a sense of nostalgia for the time when all his friends were doing similar things.

• The same speaker suggests that building relationships with other entrepreneurs can be incredibly valuable because these bonds do not go away easily. He shares an anecdote about meeting people from all over North America at a live podcast event and being amazed by how far some people had traveled just to meet him.

Conclusion

In this final section, one speaker reflects on his experience meeting fans at a live podcast event and emphasizes the importance of building a community as an entrepreneur.

Building a Community

• One speaker reflects on his experience meeting fans at a live podcast event and notes that he was amazed by how far some people had traveled just to meet him. He emphasizes the importance of building a community as an entrepreneur and suggests that this can be done by moving to a city or town where there is a community of like-minded individuals.

Meeting Interesting People at a Live Show

In this section, the speaker talks about meeting interesting people at a live show and shares some of his experiences.

Meeting a Mother and Daughter who Listen to the Podcast Together

• The speaker met a mother and daughter who listen to the podcast together.

• The daughter enjoys listening to the podcast because it's fun, educational, and makes her want to go out and do things.

• The mother thanked the speaker for creating a podcast that they can both enjoy together.

Meeting Successful Entrepreneurs

• At the live show, the speaker asked attendees to raise their hands if they were entrepreneurs.

• He then asked those who had launched their business to keep their hands up, followed by those with over $100k in revenue, $1 million in revenue, $10 million in revenue, etc.

• One attendee he met was an entrepreneur who sold gear to fire departments around the country. He had exclusive rights to sell in nine states and did around $30-$50 million in revenue.

• The speaker reflects on how many niche businesses there are out there that people don't think about.

Dinner with Other Entrepreneurs

• The night before the live show, the speaker had dinner with other entrepreneurs.

• One business that stood out was called Boom and Bucket. They sell tractors and other heavy equipment online.

Boom and Bucket: Selling Heavy Equipment Online

In this section, the speaker talks about Boom and Bucket - a company that sells heavy equipment online.

What is Boom and Bucket?

• Boom and Bucket is an online marketplace for buying or selling heavy equipment such as tractors or dump trucks.

• They have a cool website with great branding.

Will It Work Out?

• The speaker is unsure if Boom and Bucket will be successful but thinks it's a great idea.

• He is interested in seeing how the company will do in the future.

Boom and Bucket

In this section, the speaker talks about a new business called Boom and Bucket that sells used construction equipment online.

Description of Boom and Bucket

• Boom and Bucket is a new business that sells used construction equipment online.

• The website has a marketplace for buying and selling equipment with financing options available.

• The website lists detailed information about each piece of equipment, including photos and inspection reports.

• The company offers shipping services to buyers.

Franchise Marketing

In this section, the speaker talks about two marketing agencies that specialize in franchise marketing.

Scorpion Marketing and Ferocious Marketing

• Scorpion Marketing and Ferocious Marketing are two companies that specialize in franchise marketing.

• They help franchises improve their online presence through Google pay-per-click advertising, Facebook ads, website design, and more.

• One of these companies generates over $100 million annually from franchise marketing alone.

• These companies work with large franchises like Goodyear Tires to improve their online visibility.

The Benefits of Digital Marketing for Franchisees

In this section, the speaker discusses the benefits of digital marketing for franchisees and how it can help streamline operations and increase ROI.

Advantages of Digital Marketing for Franchisees

• Franchisees have a cookie-cutter customer base, making it easier to tailor marketing efforts.

• Scale is already established in franchises, making it easier to validate a niche.

• Easiest marketing pitch in the world once you get started.

• Franchise owners are typically not tech-savvy, making them an ideal customer for digital marketing services.

Examples of Niche Markets

• Senior living facilities: occupancy rates can swing by 10 million dollars based on search engine rankings.

• Finding a niche or franchise with similar characteristics makes digital marketing more appealing.

Challenges of Running a Business

• Getting new customers is the number one challenge when running a business.

• Other complaints are minor compared to getting new customers.

Becoming an Authority in Hosting Small Gatherings

In this section, the speaker talks about Nick Gray and his ability to become an authority on hosting small gatherings.

Nick Gray's Expertise

• Nick Gray became an authority on hosting small gatherings in real-time.

• He was able to turn his expertise into something substantial.

Example of Nick Gray's Hosting Skills

• At a dinner event that got rained out, he ran across the street to buy long sleeve t-shirts for guests who were cold.

The Story of a Successful Entrepreneur

In this section, the speaker talks about an entrepreneur who was successful in his business ventures and invested his profits into other companies.

Investing in Tesla and Cloudflare

• The entrepreneur made money from an aviation parts business and invested all of it into Tesla.

• He also started a museum company with the proceeds from selling another business and invested it into Cloudflare, which has not done well.

Marketing Strategies

• The entrepreneur promotes his book, "Two Hour Cocktail Party," by reviewing bars in Austin and taking pictures of his book in front of the sign or food as guerrilla marketing.

• He also promotes Cloudflare on Twitter by replying to people's questions about services with recommendations for Cloudflare.

Is He an Idiot or a Genius?

In this section, the speaker discusses whether the entrepreneur is an idiot or a genius based on his focus on hosting two-hour cocktail parties.

Solving Real Problems

• The entrepreneur's book solves a real problem: hosting a successful party. He provides tips on how to invite people, prep them beforehand, structure conversations, and label trash cans.

• Hosting any kind of party can be stressful, but he provides details that make the difference between bad, good, and great parties.

Tips for Hosting Successful Parties

• Name tags help guests introduce themselves.

• Structured time gives guests something to talk about during unstructured time.

• Labeling trash cans prevents guests from rummaging through cupboards and leaving trash on the counter.

The Genius of Building a Friend Group Network

In this section, the speaker talks about how building a friend group network can lead to great things and why he thinks it's genius.

Building an Ultimate Friend Group Network

• The right dinner party can lead to great things.

• Nick is building the ultimate friend group network.

• Being a "friend billionaire" means knowing a lot of cool people and constantly being inspired by them.

• Most people have weak and feeble friend groups, which is like an epidemic going on right now.

Win-Win Scenario

• The speaker thinks that Nick has a win-win scenario.

• Whether this becomes a big deal or not, Nick wins because he gets to build his friend group network.

Creating Local Chapters for Awesome Get-Togethers

In this section, the speaker talks about how Nick could turn his idea into a local franchise and create the next Toastmasters.

Modern Day Toastmasters

• The speaker thinks that Nick's idea could be turned into the modern day Toastmasters.

• He could create an international wave of people who want to get better at hosting things and having an awesome social life.

Local Franchise

• Nick should turn his idea into a local franchise where he trains people how to host awesome get-togethers.

• People pay membership dues to be part of this community.

The Game and Public Speaking

In this section, the speaker talks about how some people want to improve their social life or public speaking skills. He compares it to "The Game" by Neil Strauss, but without the sleaze factor.

Comparing to "The Game"

• The speaker compares improving social skills or public speaking to "The Game" by Neil Strauss.

• He mentions that this has more legs and benefits than "The Game," without the sleaze factor.

HubSpot and Meet-and-Greet

In this section, the speaker talks about HubSpot and his experience during a meet-and-greet after a show.

HubSpot

• The speaker mentions HubSpot as a CRM platform where everything is fully integrated.

• He explains that he can see the client's whole history, calls, support tickets, emails, etc.

Meet-and-Greet

• The speaker talks about doing a meet-and-greet for almost two hours after a show.

• He mentions feeling relieved that the show was over and that he could go home.

• The speaker traveled with his two little kids who had cotton candy and crazy amounts of candy they never get to eat.

• People referenced the size of cotton candy that his children had.

• He jokes about traveling moms having pre-made backpacks full of little dollar store toys as bribes for their kids.

Common Questions During Meet-and-Greet

In this section, the speaker talks about common questions he received during a meet-and-greet after a show.

Common Questions

• The most common question asked during meet-and-greets was asking for advice on deciding between two options.

• Other questions included asking for a selfie and one question.

• The speaker would ask what the person wanted to do and suggest they do that option.

• He mentions not liking giving this answer because it's like meeting your hero.

Asking for Advice vs Investment

In this section, the speaker advises against asking for investment when things are not working and instead suggests seeking advice.

Two Startups at Once?

• The speaker asks if it is optimal to do two startups at once or just one.

• They suggest focusing on the better business that is working well rather than trying to make both fledgling businesses work.

Simple Problems Need Simple Answers

• The speaker emphasizes that most common problems have simple solutions and don't require complex answers.

• They suggest finding a third party with fresh eyes to provide a simple answer to a problem.

Everyone is Searching

This section highlights how everyone, regardless of their net worth, is searching for something in life.

Searching for Meaning

• The speaker notes that everyone they met was searching for meaning in their lives.

• Many people were searching for direction and what they should be doing with their time.

Value of Having Clear Direction

• The speaker emphasizes the value of having clear direction in life and being grateful for it.

• They suggest finding people who are good at figuring out direction when feeling lost or stuck.

Dangers of Being in a Searching State

• The speaker warns about the dangers of staying in a searching state for too long.

• They compare it to being stuck in a dream and suggest taking action, like cold plunging, to wake up from it.

Importance of Time Management

In this section, the speaker discusses the importance of time management and how it can help keep one focused and productive.

Obsession with Time

• The speaker has always been obsessed with time and used to map out biographies of successful people to understand their timelines.

• He believes that constraints are necessary for creativity and productivity.

Worry Time

• The speaker uses a technique called "worry time" where he sets aside a specific period to worry about certain things in his life.

• This helps him avoid constantly worrying throughout the day and allows him to focus on other tasks.

Searching Time

• Similar to worry time, the speaker also sets aside a specific period for "searching time" where he explores different opportunities or ideas.

• Once he finds what he is looking for, searching time is over and he focuses solely on pursuing that opportunity.

Structured Approach to Goal Setting

In this section, the speaker discusses his structured approach to goal setting and how it helps him stay focused.

Regimented Approach

• The speaker takes a regimented approach to goal setting by breaking down his goals into smaller, achievable tasks.

• He sets specific periods of time for each task and evaluates his progress regularly.

Creative Constraints

• The speaker believes that creative constraints such as time limits can help keep one honest about their progress towards their goals.

Balancing Exploration and Focus

In this section, the speaker discusses the importance of balancing exploration and focus in achieving one's goals.

Searching Period

• The speaker had a period of exploration after leaving his previous job but knew that it couldn't last forever.

• He set a specific time frame for exploring different opportunities before shifting his focus to pursuing a specific goal.

Importance of Urgency

• The speaker learned about the importance of urgency from a book by Robert Greene.

• He believes that having a sense of urgency can help keep one focused and productive towards their goals.

Avoiding Distractions

• The speaker turns off distractions such as Twitter DMs when he is focused on pursuing a specific opportunity.

• This helps him avoid getting sidetracked by new opportunities and stay focused on his current goal.

Using Constraints to Enhance Experiences

In this section, the speaker discusses how he uses constraints to enhance his experiences and avoid the stress of time.

Focusing on Constraints

• The speaker focuses on constraints to use them to his advantage.

• He gives an example of using a suitcase as a weight for air squats when he doesn't have access to a gym.

• He prefers focusing on experiences rather than hours and uses constraints without the stress of time.

Comparing Yourself with Others

• The speaker talks about comparing oneself with others and how it can be motivating but also dangerous.

• Comparing oneself with others helps in the science of success but not in the art of fulfillment.

• People often try to solve success first and then happiness, which may lead to disillusionment.

Finding Happiness

• The speaker believes that people should focus on finding happiness instead of just solving success.

• Throwing money at happiness works only up to an extent, and people may end up feeling disillusioned.

• People often think that achieving a certain number will make them happy, but it's not always true.

Dinner with Andrew

In this section, the speaker talks about a dinner he had with Andrew and how they discussed personal motivating factors. They also talked about financial security and how it is not always guaranteed.

Financial Security

• Andrew mentioned that he wanted to feel financially secure because of insecurities he had as a child.

• The speaker realized that many people do not feel secure regardless of what they have or don't have.

• The speaker believes that financial security does not come from money but rather from having skills and abilities.

Fitness

• The speaker believes that as long as he has his wits and hands, he will be fine regardless of his financial situation.

• The speaker discusses fitness insecurity and how some people may feel more secure than others in this area.

• The speaker mentions the diverse demographic at their meet-and-greet event, including many strong individuals.

Chasing Happiness

• The speaker believes that people are chasing a feeling they think comes from things when it actually comes from within themselves.

• Despite feeling awkward during meet-and-greets, the speaker compliments attendees on their appearance and strength.

• The audience at the event was diverse, including many Indian attendees with thick accents.

The Cult Phenomenon of Naval Biology

In this section, the speaker talks about how people in China idolize Kobe Bryant and compares it to the cult phenomenon surrounding Naval biology.

Idolizing People Who Are Like You

• People tend to idolize those who are like them.

• Kobe Bryant was popular in China because he had a combination of athleticism and qualities that they wanted.

• He was also seen as a god compared to them.

Idolizing People Who Are Unlike You

• People also tend to idolize those who are unlike them.

• Bjork is an example of someone from Iceland who became popular because she was doing something interesting in America.

• Bruno Mars is another example of someone who is popular in the Philippines because he is Filipino.

Jerry Springer's Backstory

In this section, the speaker talks about Jerry Springer's career before he became famous for his talk show.

Early Career

• At 25, Jerry Springer was an advisor to Robert Kennedy during his presidential campaign.

• He went on to do local city politics and became the mayor of Cincinnati for a brief period of time.

• He got fired from his job as mayor after soliciting a prostitute.

The Birth of The Jerry Springer Show

• After leaving politics, Jerry Springer started doing a political talk show on local TV.

• A new producer came in and suggested shifting towards controversy and scandal which led to the creation of The Jerry Springer Show.

• It was initially unspectacular but eventually became higher rated than Oprah at its peak.

Real or Fake?

• There are different opinions on whether the scandals on The Jerry Springer Show were real or fake.

• They would cast for scandal and intentionally not fact check anything.

• For some, it was truly real while for others, they would embellish or make things up to get on TV.

Jerry Springer Show - Lessons for Entrepreneurs

In this section, the speaker talks about the lessons that entrepreneurs can learn from the Jerry Springer Show.

Giving People What They Want

• Entrepreneurs should give people what they want, not what they think people should want.

• Trying to market something that people should do instead of what they want to do is a waste of money.

Pioneering a New Format

• Jerry Springer pioneered a new format by putting dirty laundry on air and featuring fights, bouncers, pregnancy tests, and DNA test reveals.

• He was an innovator who became bigger than Oprah in his prime.

Bringing Friends Along the Way

• Jerry Springer did 5,000 episodes and got his friends to win too.

• His security guy Steve became a character on the show and later got his own spin-off show.

Exposing People to New Ideas

• The Jerry Springer Show was the first show to expose people in America to LGBTQ+ issues.

• For many Americans, it was their first time meeting or hearing about anyone who identified as gay or trans.

Teasing Each Other Equally

• The speaker talks about how he learned not to make fun of someone for being gay after meeting some kids at school who were openly gay.

• He realized that making fun of someone for being different is wrong and started treating them equally.

Jerry Springer, Maury, and Cheaters

In this section, the speakers discuss the legacy of Jerry Springer and other talk shows from the 90s and 2000s. They also talk about the current state of similar content on platforms like TikTok and Twitch. The conversation then shifts to the radio show "Cheaters" and its format.

Legacy of Talk Shows

• The speakers reminisce about watching Jerry Springer, Oprah, and Maury after school or when staying home sick.

• They discuss how these shows were popular in their time but are now part of a passing generation.

• They wonder if there is a modern equivalent on platforms like TikTok or Twitch.

Cheaters Radio Show

• The speakers discuss the TV show "Cheaters" and its host Joey Greco.

• They mention an episode where Greco was stabbed while filming.

• They note that it was hard to tell if shows like "Cheaters" were fake or not because there was no social media to expose them at the time.

• The conversation shifts to the radio version of "Cheaters," which involves calling suspected cheaters on air with their partners listening in.

• The hosts speculate on how this format works and praise it as great content for creators.

Fake vs Real Wrestling

In this section, the speakers discuss whether wrestling is real or fake.

Wrestling's Authenticity

• One speaker mentions that they only recently found out that wrestling is fake.

• They speculate on how the illusion of reality was maintained before social media and other forms of exposure.

Public Freakout and Popping

In this section, the speakers discuss their favorite subreddits, including "Public Freakout" and "Popping."

Favorite Subreddits

• One speaker mentions that their favorite subreddit is "Public Freakout," while the other's is "Popping."

• They share a personal story about posting pictures from a surgery on "Popping" and getting 60,000 views.

Recap of Episode and Jerry Springer

In this section, the speakers discuss a previous episode where they did a recap and talked about Jerry Springer.

Recap of Previous Episode

• The speakers mention that they did a recap in a previous episode.

Discussion on Jerry Springer

• The speakers mention that they talked about Jerry Springer in the previous episode.

• No additional information is provided in this section.

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