My First Million
#16 - TRT Subscriptions, Cord Blood Banking, Digital Museums
· Summarized
Key takeaways
- Real estate investment can provide a hedge against tech-market volatility.
- Exploring diverse side hustles can lead to unexpected insights and learning experiences.
- Emerging health trends like TRT signal a shift in male wellness attitudes.
- Innovative business models around experiences, such as digital museums and retreats, are gaining traction.
- There is a growing market for services that support remote work and streamline compliance across locations.
Summary
Real Estate Ventures
In this segment, Sam discusses his interest in purchasing multi-family units in St. Louis, where he believes there's potential for cash flow despite low appreciation rates. He elaborates on the volatility of real estate compared to tech, where revenue can grow steadily. He's motivated to explore real estate as a way to diversify his investments and safeguard against potential downturns in the tech world.
Innovative Side Hustles
Sam shares his recent experiment with a side hustle during his paternity leave, where he worked on a dropshipping business selling custom pet socks. He recounts his intriguing startup journey of running Facebook ads and making his first sale, while also acknowledging the challenges and raised costs associated with advertising. This experiment highlights the complexities and unpredictability of entrepreneurship.
Trends and Business Ideas
The hosts dive into several emerging business trends, including TRT (Testosterone Replacement Therapy), digital museums, and voluntary suffering retreats. They discuss how TRT is growing in popularity among men seeking to improve their health and vitality, while digital museums are cashing in on the Instagram-friendly experiences that attract visitors. Additionally, they consider the rise of retreats focused on personal growth and resilience, suggesting a cultural shift towards experiences that foster toughness.
Sperm and Cord Blood Banking
Sam introduces the concept of sperm freezing as a form of insurance against future biological uncertainties, addressing its value despite the ongoing conversation about male fertility. They also delve into cord blood banking, highlighting it as a worthy investment for new parents that could provide future healthcare options for their children.
Remote Work Tools and Services
The conversation shifts to the remote work landscape, particularly focusing on tools and services that improve remote team efficiencies. Sam highlights companies that streamline paperwork for remote employees and emphasizes the impending need for better solutions in managing compliance across jurisdictions. He suggests exploring collaborative tools within businesses that haven’t yet embraced a social work dynamic.
Sponsors
- HubSpot · Angel City Football Club achieved significant growth by using HubSpot to unify their website, email marketing, and fan experience on one platform.
- Trends by The Hustle · Sam offers a 50% discount on The Hustle's Trends newsletter with the code 'MILLION'.
Show notes
The Hustle's My First Million presents a new weekly show: Million Dollar Brainstorm. Host Shaan Puri (@ShaanVP) and The Hustle CEO Sam Parr (@theSamParr) sit down and discuss what side hustles, trends and big business ideas that's keeping them up at night. This week they shoot the sh*t about some real estate hunting, pets on socks, TRT subscription service, digital museums, voluntary suffering retreats, cord blood banking, sperm freezing and remote enterprise software ideas. If you enjoy this and would like a weekly briefing on super in-depth research in these trends, Sam has offered 50% discount on The Hustle's Trends newsletter, use code "MILLION" while signing up to https://trends.co.
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