Overview

Nearly 6 out of 10 founders and entrepreneurs believe in podcasts to tune in to gather perceptions for starting, building, growing, and establishing their businesses, "My First Million" stands out as a top pick for them among the sea of podcasts. Unlike other business podcasts, My First Million appreciates entrepreneurs, even if they fail. Hosted by Sam Parr and Shaan Puri, this podcast serves different business opportunities and explains how to pounce on them. It is a platform for brainstorming new business ideas. The in-depth inspiring words of Shaan and Sam motivate new business owners to aim for their first million, wealth, turn a profit, hire employees, or whatever they're after. 

Looking at how big and famous the podcast is, Shaan, Sam, and producer Ben made many efforts and did things right to make it grow this much. In this article, let’s discuss behind-the-mic stories of “My First Million” covering the founders' backgrounds, top episodes, awards, listener data, featured guests, and how the podcast grew to millions of listeners using the growth flywheel concept.

My First Million- How it Started?

Everything starts with an idea and the idea for the show came to Sam when he sold his company and wanted to start spending time on something not directly related to that. He wanted to brainstorm new business ideas and use the podcast to chat with cool people in the startup environment. And "My First Million" originated from a conversation between Shaan Puri and Sam Parr.

When Shaan began recording the podcast, he used a rented studio near his office. Launched in 2020, the podcast gained popularity for its candid discussions, practical advice, and diverse guests. Although Shaan initially had a small social media following, his Twitter account now boasts over 300k followers. He expanded his audience by sharing longer threads, some with controversial opinions, such as one about Clubhouse.

Founders Background

Thinking about the size and popularity of the podcast now, there are a lot of things that Shaan, Sam & producer Ben did right to grow it to the stage it’s at. A strong connection between Shaan and Sam with the little things they’ve done to grow their show over time. Shaan Puri is known for his experience in the tech industry, while Sam Parr is an entrepreneur and the founder of The Hustle, a media company focused on business and tech news.

Shaan Puri, a serial entrepreneur who sold a business to Twitch, co-hosts the "My First Million" podcast and is the General Partner of All Access, a fund investing $3 million annually in global startups. Known for simplifying complex ideas, Shaan supports budding entrepreneurs. Sam Parr, entrepreneur and co-host, founded The Hustle, delivering business and tech news. Together, they share valuable insights on entrepreneurship in the podcast. 

They both indeed share the strong bond that even though COVID-19 made it a lot harder for many to record episodes in person, they kept holding on and opened up the possibility of recording the podcast from anywhere.

Purpose and Process of “My First Million”

The purpose of running this show is clear as what they say “Every week we dive deep into different business opportunities and explain how to pounce on them. Basically...we spoon-feed you interesting businesses you can start tomorrow. And hey, maybe it'll help you get your first million users, revenue, profit, employees (that'd be wild), or whatever it is you want a million of.” 

What do they Do?

• Brainstorm new business ideas

• Interview business builders who are creating big, meaningful companies

• Do business breakdowns on different companies 

The hosts, Shaan Puri and Sam Parr cover a wide range of topics:- 

• Business 

• Entrepreneurship

• Startup 

• Wealth creation

• Investment 

• Features successful entrepreneurs, investors, and business leaders as guests.

Shaan Puri and Sam Parr are indeed fun on their podcast, whether alone or with guests. In the past, they have invited big founders and entrepreneurs like Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary, and many others. 

The candid discussions with great leaders make this show a top pick for the audience.

Nonetheless, bringing guests to the show brought the growth of the show. However, two factors are at play here:

1. The audience of the guests on the podcast

2. The quality content that comes from bringing on guests

Top Guests: Hunting and Inviting Process

Finding new podcast guests has become easier over time, but the initial pool of guests was hard work. Sam and Shaan, having a big network, began by inviting the most interesting people when the podcast launched.

Sam practiced writing a lot in his career, especially when growing "The Hustle" newsletter. He also talks on the podcast about how he "cold emailed someone and asked for x." Reaching out for the podcast felt natural to Sam, and as it grew, getting interesting guests became easier. Though it’s not just one, they even use it to ask interested followers.  

Top Guests on “My First Million”

• Mr. Beast

• Rob Dyrdek

• Sophia Amoruso

• Dharmesh Shah

• Tony Robbins

• Hasan Minhaj, 

• Dr. Andrew Huberman

• Gary Vee,

• Lance Armstrong

• Sophia Amoruso

• Peter Diamandis

• Andrew Wilkinson

• Ben Askren Noah Kagan

• James Altucher

This is a list, but they've also invited many other famous people to the show. However, Sam and Shaan are good on podcasts. Still, there's no guarantee that their guests do as well. There could be reasons like not briefing guests about the podcast and more.

The Growth of “My First Million” Podcast

A case study has conducted in-depth research on the growth of the 'My First Million' Podcast. The study revealed the podcast's growth and identified some of the levers that propelled its flywheel to the top of the podcast charts. 

The 4 Core Parts of the ‘My First Million’ Growth Flywheel are:-

1. Creating the show

2. Promoting the show

3. Finding new show guests

4. Finding new ideas to discuss

Sam and Shaan have mentioned a “flywheel” during their show. From here it was time for Shaan and Sam to figure out how to make the flywheel spin faster and improve each part. Here are the things they tried for each part of the flywheel:

• Optimizing The Recording Of The Podcast

• Record Podcast Remotely

• Invested in a Higher Quality Setup 

• Hired Producer Ben 

  
  

• How They Promoted The "My First Million" Podcast

• Youtube Videos

• Youtube Shorts 

• TikTok Contest 

• Podcats cross-promotion

• Guest sharing episodes 

  
  

• Inviting New Guest To the Show

• Cold Reaching out on Email

• Asking followers choice 

  
  

• Discussing New Ideas on the Show 

• Make guests prepare interesting business ideas

• Facebook group where people discuss ideas

• Live sessions

Viewership and Awards received by “My First Million”

My First Million is one of the top-ranked business podcasts in the world. The podcast typically has 10,000 to 100,000 monthly listeners with 4.8 ratings. It ranks  #5 in the Netherlands, and #8 in the UK and Turkey both in the top entrepreneurship podcast. 

The "My First Million" podcast won the People's Voice Award at the 2023 Webby Awards in the Podcasts Business category. It also holds its annual awards, the "Milly Awards," discussed in special episodes highlighting the best guests, companies, industries, and predictions from 2021 to 2023. Hosted by Sam Parr and Shaan Puri, the 2023 "Milly Awards" episode features special guests Andrew Wilkinson and Austin Rief.

Top 5 Episodes of “My First Million”

Every episode of "My First Million" is unique and valuable, but there are the top 5 episodes that viewers have chosen as their favorites.

1) Making Millions off an Email Newsletter?! Sam Parr from The Hustle Tells All

2) Blogging His Way To $9M in Cash - Ramon Van Meer

3) These Are the Frameworks Every Entrepreneur Should Learn

4) NSFW Tech, HQ Trivia & Auctions

5) How We Got Our First 100 Customers (No Bulls**t, Specific Details)

Conclusion

In the sea of business and entrepreneurship podcasts, My First Million has risen as the top podcast. It simply helps you brainstorm and figure out how businesses are tied together in a way where 1+1=3.  

This podcast is a must-listen for anyone interested in business, entrepreneurship, wealth creation, and investments. With a solid viewership, experienced guests, and insightful conversations, it's the go-to show for entrepreneurs. Whether you're launching a startup, in need of business ideas, or seeking growth plans, this podcast covers it all.