To Make Your First Million Dollars, Draw Up This Venn Diagram: 'You Want to Fall Right In the Middle. If You Do, I Think It'll Take 5 Years' The hosts of 'My First Million' believe anyone can make it happen if they follow this formula.

Sam Parr and Shaan Puri think in millions. They've both had notable exits for many millions (Parr sold his newsletter company The Hustle to HubSpot, and Puri sold his video streaming company Bebo to Twitch). Together, they cohost the chart-topping podcast My First Million, where they kick around business ideas with successful entrepreneurs.

Both agree: A million dollars sounds sexy, but it's not an end goal. "When you have a million bucks, you're not making tons of investments," Puri says. "You can't just live off it forever, unless you're living a really minimalist life. So you should ask the question, 'At what thresholds do things actually change, versus what are the arbitrary numbers that just sound good?'"

Here, they discuss the true value of a million dollars, and the strategic path to your first million (and many more).