Industry Stigma Challenge
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Shaan and Sam discuss the challenges of operating in industries that, while legitimate, face credibility challenges due to the presence of questionable operators. They specifically discuss Alex Hormozi's businesses in supplements, courses, and gym services.
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Industry Perception Issues:
- Supplements and courses are legitimate industries but have "a lot of shady people"
- Being in these spaces requires navigating reputation challenges
- Not everyone operating in these spaces is questionable, but the industry reputation affects all participants
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Specific Business Challenges:
- $20,000 course pricing requires significant "chutzpah" to sell
- Lead generation and supplement businesses face skepticism despite being legitimate
- Course businesses face stigma with people assuming "you probably couldn't do it that's why you're selling courses"
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Legitimacy Indicators:
- Providing actual valuable advice and tactical information
- Not just sharing motivational quotes
- Demonstrating practical business success ($72M in earnings over 5 years)
- Building multiple successful related businesses (gym services, supplements, lead generation)
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Business Approach:
- Focus on delivering practical, actionable advice
- Build credibility through demonstrated success
- Create value across multiple related business lines
- Maintain quality despite industry reputation challenges
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.