How to Build a Community | My First Million #213

No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd - In this episode Shaan (@ShaanVP) and Sam (@theSamParr) break down community businesses and different ways you can build a community. They also talk about the law of reciprocity, the ad Sam wrote that competitors have stolen, and the importance of user generated content for digital ads. They end the episode talking about how technology will change construction sites and share a few Instagram accounts worth following. — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire global talent (like Shaan does) and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than their US equivalents. — 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 💰 Pitch your startup for a shot at a $1M investment with Sam Parr as the MC https://clickhubspot.com/pitch Links: 📧: Sign up for The Hustle Daily Newsletter: https://link.chtbl.com/7Ah3GCQH 🎙️: Download Our Podcast: https://link.chtbl.com/t8g6BzJm A podcast where we brainstorm new business ideas based on trends & opportunities we see in the market. Sometimes we have famous guests, and they do it with us. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * (0:00) The law of reciprocity * (6:12) What is Friends with Benefits * (12:17) Why communities can be great businesses * (14:19) How big can token backed communities be? * (16:54) Soho House went public * (19:06) Should MFM make a social token? * (22:08) Set your data free * (27:27) Communities of communities can be big businesses * (28:45) User generated content & Sam's great ad copy * (34:38) The hot girl side hustle * (44:24) The future of construction sites * (51:32) Remote arcade games * (54:54) Some accounts to spice up your Instagram feed * (57:52) The man behind Telegram