Companies of One that Make Millions with Steph Smith

**Sam Parr** (0:00)
All right, there's this amazing book called Getting Everything You Can Out of All You've Got. I read it a few years ago and it changed my life. And the reason I loved it was because it basically talks about how to get and make more money using things that you already have. Coincidentally, today's podcast is brought to you by Business Made Simple. It's a podcast by Donald Miller, who I'm gonna tell you about in a second, but he has this amazing episode that's all related to this book and the things that I learned in this book. It's called How to Make Money with What You Already Have. It's an incredible episode. It talks about all the stuff that I learned in this book. The host is Donald Miller. I didn't know who Donald Miller was up until recently, but over the last 12 months, this is totally by coincidence. It was all separate people. They said, you have to check out Donald Miller. He's amazing. So I'm happy that he's part of HubSpot's Podcast Network. You can check it out, Business Made Simple Podcast. It's where he coaches you on how to build your business like an airplane, where the cockpit is your leadership, the body is your overhead, the right engine is your marketing, the left engine is your sales. You have to check it out. This guy's amazing. It's called Business Made Simple with Donald Miller.
This is awesome. Ben texted me or like slacked me while we were doing this and he goes, Steph's been spitting fire for the last 50 minutes. So this is bad ass.
What's going on?
What's up?
I'm good. All right, you're back. Shaan is on a family vacation and you are the sub. And I think it's a good sub. So you sent me this document that we're gonna go through a ton of stuff. There's so much stuff on here.
How... Is this like a list that you've been keeping for months or you made this just for this?

**Steph Smith** (1:46)
This is part of a list I've been keeping for months.
I keep this list in my Evernote that just every time I see a new idea, whether it's from like a newsletter or something you guys talked about on My First Million that I wanna respond to, I just have a running list. So this is probably like a quarter of that bigger list.

**Sam Parr** (2:02)
What? This is 15 pages. How many words? Just what we have here is like 10,000 words.

**Steph Smith** (2:08)
We should share this. I mean, at least parts of it, because we're not gonna get through all of this.

**Sam Parr** (2:12)
This is amazing.
If I was you, I wouldn't share this. I would charge people for it. This is good.

**Steph Smith** (2:19)
I mean, there's definitely things that I'm excluding from here. You don't share the ones that you actually wanna build.

**Sam Parr** (2:24)
You... So you told me one time that you wanna become a billionaire.

**Steph Smith** (2:29)
I think I want to. We'll see if that actually happens.

**Sam Parr** (2:32)
Well, I said, who cares if it happens or not, but you said that's what you wanted. Do you... What are you gonna do to become that?

**Steph Smith** (2:39)
I mean, I feel like if I ever become a billionaire, we're gonna talk hopefully about Tyler Perry later. It has to come from building something on my own. I need to have equity in something. Like you don't become a billionaire from working for a company and buying ETFs.

**Sam Parr** (2:53)
Well, there's a few examples, but the likelihood of becoming a billionaire is slim to none. The likelihood of becoming a billionaire by being an early employee somewhere is much slimmer of that subset, but it's possible.

**Steph Smith** (3:06)
It's definitely possible. Should we talk about these companies of one, which I feel like are kind of anti, not anti-billionaire, but a different approach to building?

**Sam Parr** (3:16)
Yes, and I actually don't think they're anti-billionaire. I think you can become a billionaire this way. But just so people know, so this is Steph Smith. Steph, you work at The Hustle.
You basically helped me start Trends and you ran it for a while. And you still kind of run it, but you also do a bunch of other different projects. And you have this Gumroad book called Doing Content Right, is that right?
And it made 150 Gs in the first year or something like that, right?

**Steph Smith** (3:41)
Yep, exactly.

**Sam Parr** (3:42)
And you are the...
So we aren't really partners anymore, but I felt like when you ran Trends, I viewed it a little bit like a partnership. So I've worked with you pretty closely for a while. Now we're just friends, but is that all accurate? What am I missing?