Shaan Puri's $0 to $1 Million Guide — How He Would Start Over in 2024

In a recent podcast Shaan Puri answers the question he gets most often: If he was starting from scratch — and had no money in the bank — how would he make $1,000,000? Shaan is a founder, investor and creator of the My First Million podcast (over 25M+ downloads annually). Shaan also created The Milk Road newsletter about crypto with his friend Ben Levy. They grew it from 0 to 250, 000 followers in less than one year.

Shaan advises on achieving success and making your first million, even when starting from scratch with no money, special skills, or networks. He delves into a comprehensive strategy for self-reinvention and financial growth, drawing from personal experience and industry insights.

Here are some major lessons and advice from Shaan:

1. Mindset & Self-Perception:

- Maintain a youthful and optimistic mindset, believing that anything is possible, and the best days are ahead.

- Free yourself from age constraints, as they add unnecessary pressure and can hinder your progress.

- Embrace being a beginner; this can often be an advantage as others may be more willing to offer help and guidance.

2. Career Phases Framework:

- Break your career into three phases: Learn, Earn, and Legacy.

- During the ‘Learn’ phase, prioritize gaining experience and knowledge over short-term financial gains.

- The ‘Earn’ phase is about leveraging your skills and knowledge to generate significant financial returns.

- The ‘Legacy’ phase involves giving back and creating a lasting impact beyond oneself.

3. Career Development Strategies:

- Embrace the process of dabbling in various experiences to discover your unique abilities and interests.

- Understand that successful careers often involve a natural evolution and growth over a long period, typically a decade or more.

4. Finding Your Edge:

- Leverage your newness and willingness to learn to gain access to mentors and opportunities.

- Recognize the value in having nothing to lose, as it allows you to take risks that others may avoid.

- Identify and develop your edge by combining your unique abilities, talents, and interests into a distinctive and valuable niche.

5. Choosing the Right Projects:

- Opt to work on the most critical problems (A+ problems) within a company or industry to maximize impact and learning.

- Consider starting a company or joining an early-stage organization where you can gain hands-on experience.

- When joining a company, ensure that your role allows you to contribute meaningfully to the company’s success.

6. Creating Luck:

- Understand that there are different levels of luck and seek to create opportunities for luck to find you by increasing your surface area of exposure.

- Engage in activities that elevate your visibility and connections, such as creating and sharing content or analyses publicly.

7. Starting a Business:

- Develop a productized agency or service company aimed at generating significant recurring revenue.

- Employ a strategy to slowly build towards the goal of earning $100,000 a month by servicing a manageable number of high-paying clients.

8. Investment Strategy:

- Avoid wasting time trying to make minimal returns on a small amount of money.

- Invest in yourself by buying back your time, gaining knowledge, and being in proximity to successful people.

- Leave money on the table when necessary to work with better people, gain better opportunities, and place yourself in an environment where success is more likely.

9. Mission vs. Money:

- Achieve financial stability and skills before embarking on mission-driven, world-changing endeavours.

- Avoid the trap of waiting for the “right time” to pursue your passions; you can always work towards meaningful goals without sacrificing financial progress.

Conclusion:

Shaan advocates for a strategic approach that includes flexibility, long-term planning, embracing beginner status, and prioritizing learning and growth opportunities. By focusing on self-improvement, getting around the right people, and working on the most important problems, you can create success regardless of age or initial resources.

Are you interested in starting a newsletter of your own? Shaan and Ben started Milk Road super simple. They would send Google documents via email to friends to get feedback. He says that they eventually got smart and switched to beehiiv. Here is a link to where you can set up your newsletter using beehiiv: https://www.beehiiv.com?via=noel-o-shea

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