Loading...
August 12, 2024 • 22min
You Don’t Need A Mentor -> Focus On THIS Instead
My First Million
In this episode, Sam Parr and Shaan Puri discuss the concept of "believers" - people early in your career who irrationally believe in you and your potential, often more than you believe in yourself at the time. They share personal stories of key figures who played this role for them and explore why these interactions and relationships are so impactful for entrepreneurs.
You Don’t Need A Mentor -> Focus On THIS Instead
0:00
-0:00
Key Takeaways
- Having early "believers" who irrationally believe in you is crucial for entrepreneurial success - These people see your potential before you do and help jumpstart your confidence and career
- Even brief interactions or words of encouragement from respected figures can have a huge impact - A single conversation or email can plant an important seed of belief
- Genuine enthusiasm and excitement from others is contagious and motivating - When someone is truly excited about your potential or ideas, it fuels your own belief and drive
- Being given a positive label or identity to live up to can shape your behavior - When someone describes you as having qualities like "high bias for action", it can become a self-fulfilling prophecy
- Closing the loop and taking action on advice given shows you're coachable - Following through quickly on suggestions given by mentors or advisors makes a strong positive impression
- Having someone bet on your potential, even without much evidence, is incredibly powerful - When respected figures say they believe you'll do great things, it creates a strong drive to live up to that belief
- Pay it forward by being a "believer" for others when you're in a position to do so - Look for opportunities to provide genuine encouragement and belief in others' potential
Introduction
In this episode, Sam Parr and Shaan Puri discuss the concept of "believers" - people early in your career who irrationally believe in you and your potential, often more than you believe in yourself at the time. They share personal stories of key figures who played this role for them and explore why these interactions and relationships are so impactful for entrepreneurs.
Topics Discussed
The Importance of Early Believers (00:17)
Shaan introduces the concept of needing someone early in your career, usually in your early twenties, who believes in you more than you believe in yourself. He describes these people as seeing you as a "blue chip stock" when you're still a "penny stock." Key points:
- These believers invest time, effort, and sometimes money in you
- Their belief helps overcome initial hesitation and doubts
- Eventually, your own evidence and self-belief catch up
Shaan compares it to "jump starting a car" - these believers provide that initial spark to get you going.
Sam's Early Believers: Scott Belsky and Tim Ferriss (01:32)
Sam shares two key stories of early believers in his career:
1. Scott Belsky (Chief Product Officer of Adobe)
- Sam cold emailed Scott asking for investment in The Hustle
- Scott initially said no, but later invested $15,000 after reading the newsletter
- In one impactful meeting, Scott told Sam he would be a great "steward" of the brand and capital
- "It changed my life, the fact that Scott f**king Belsky believed in me." - Sam Parr
2. Tim Ferriss
- Sam met Tim while walking dogs in their neighborhood
- Tim later reached out to Sam for advice on starting a newsletter
- Tim's interest and belief in Sam's work was incredibly validating
- "I'm the man. I'm the best. Like, there is no one better than me. And I had that, like, energy because of those two meetings." - Sam Parr
The Lasting Impact of Believers (04:48)
Sam reflects on how these interactions planted seeds that continued to motivate him:
- He would look at Scott and Tim's other successful endeavors
- Felt honored to be "one of the logos on their websites"
- Used the fact that they believed in him as fuel for a long time
Shaan's Early Believers: Lisa Keister, John Prendergrass, and Michael Birch (06:00)
Shaan shares three key stories of early believers in his career:
1. Lisa Keister (Professor at Duke)
- Taught a class called "Getting Rich" that Shaan took his last semester
- When Shaan and friends had an idea for a sushi restaurant chain, she was the only one who encouraged them
- Her genuine enthusiasm was contagious and motivating
- "She looked at my shitty business plan, and she was like, that's awesome. You could totally do this. And it fueled me." - Shaan Puri
2. John Prendergrass (Mentor in an accelerator program)
- Gave Shaan and his co-founders practical advice on validating their business idea
- Was impressed when they quickly acted on his suggestions and followed up
- Wrote a blog post praising their "high bias for action"
- This label became a key part of Shaan's identity as an entrepreneur
- "I didn't even heard bias for action. That was not a phrase I'd ever heard. But I was like, f**king put that label on my back. That's me now." - Shaan Puri
3. Michael Birch (Successful Silicon Valley entrepreneur)
- Shaan worked for Michael's company and was unexpectedly promoted to CEO at age 24
- Michael gave a speech saying he saw something special in Shaan
- This belief fueled Shaan for years, even through subsequent failures
- "Him just saying, you know, you're going to do something special. You know, that f**king fueled me." - Shaan Puri
The Power of Closing the Loop (10:17)
Shaan emphasizes how quickly acting on advice and following up impressed John Prendergrass:
- They immediately implemented John's suggestions and reported back in 4 days
- This is rare - most people don't follow through on advice given
- Closing the loop by sharing results and next steps is powerful
The Impact of Being Given a Positive Label (12:17)
Shaan discusses how being described as having a "high bias for action" shaped his identity:
- He had never heard the phrase before
- Immediately adopted it as a core part of his identity
- Gave him something to strive towards
- Even if not fully true at first, became a self-fulfilling prophecy
Cringe-Worthy But Effective Early Self-Promotion (17:13)
Sam and Shaan look back at Shaan's early resume website:
- Included height, weight, and descriptions like "167 pounds of pure hustle"
- Had skill bars rating abilities like in a video game
- Included a collage of media mentions
- While cringe-worthy now, it was effective and memorable
- "When you're the greatest founder in the world, they don't call you the greatest founder, they call you Shaan Puri." - Shaan Puri (jokingly)
The Value of "Not Believing Your Own Bullshit" (20:05)
Shaan shares how one line on his resume resonated with an important interviewer:
- Had included "Don't believe your own bullshit" at the bottom of his resume
- This stood out to the billionaire interviewing him
- Shows the value of including unexpected elements that reveal personality
Conclusion
The hosts emphasize two key takeaways:
- Be a believer for others - Look for opportunities to provide genuine encouragement and belief in others' potential
- Thank your early believers - Reach out to those who believed in you early on and express gratitude for their impact
The stories shared highlight how even brief interactions or words of encouragement from respected figures can have an outsized impact on an entrepreneur's confidence and trajectory. While the specific advice or investment these early believers provide may not be what matters most in hindsight, their irrational belief in your potential can be the spark that ignites a successful career.