Platform Plugin Opportunities
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The business idea focuses on building and acquiring plugins/apps for established software platforms, particularly targeting undervalued opportunities in enterprise platforms like Salesforce and Zoho, as well as gaming platforms.
Key Points:
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Target Platforms:
- Shopify plugins (still very viable)
- Salesforce plugins
- Zoho plugins (similar user base to Salesforce but less competitive)
- Gaming platform add-ons
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Revenue Potential:
- Individual apps can generate $50,000-$100,000 per month
- Potential to build $10-20M revenue business through acquisitions
- Gaming platform add-ons selling for ~1x revenue (undervalued)
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Business Model:
- Buy existing plugins/apps at low multiples
- Roll up multiple apps under one company
- Use cheap debt to finance acquisitions
- Focus on profitable, cash-flowing assets
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Key Risks:
- Platform dependency
- Platform policy changes can affect business
- For gaming platforms: games can fall out of popularity
- Need shorter payback periods (9 months ideal vs 3 years risky)
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Development Strategy:
- Can hire overseas developers ($20/hour) to build custom apps
- Focus on platforms with established user bases
- Look for underserved niches within platforms
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.