How an Astrology App Makes $10m+ & Why a Boxing Announcer is Worth $400m | My First Million #182

No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd - Shaan (@ShaanVP) and Sam (@TheSamParr) talk about an astrology app that has been creating controversy throughout Silicon Valley -- Sanctuary. VCs have come out against the app as pseudoscience, but the guys question their logic. These kinds of apps go into the bucket of "me-businesses" or businesses that tell the user about themselves. So from there, the guys brainstorm on ideas within this framework. The second half of the episode is focused on "personal monopolies" -- the concept of creating a big personal brand and monetizing it. We talk about a few people who have done it successfully and how you can too. --------- * 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. — 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 --------- Show notes: * (0:00) Intro * (4:40) The controversy behind an astrology app * (19:16) Brainstorming "make-it-about-me" businesses * (26:20) Shaan and Sam's "one-night stand" businesses * (35:51) Why you shouldn't overthink your idea * (43:00) Personal monopolies: Michael Buffer, Judge Judy, and Ryan Seacrest * (52:36) Sam's Tim Ferriss story