00:00:00
in order to be successful you need to know that people have a small number of slots in their brain for who they remember so you've got to get into
00:00:06
people's head and in order to do that you need to know two things the first one is 7114 which we'll talk about and
00:00:12
the second thing is that your brain is extremely good at deleting messages but there's five things that will not be deleted by the brain and the last two
00:00:18
are the ones that are most useful so the first one is I wish I knew this stuff at the start of my career Daniel Priestley
00:00:24
is the money-making expert and serial entrepreneur who's built several multi-million dollar businesses from nothing and has meor over 3,500
00:00:31
businesses with the same Frameworks for Career Success that you're about to learn the problem that we have now is that we live in a digital world but all
00:00:38
of society is built for the Industrial Revolution system which means that we're playing by an old set of rules and going through a schooling system that is
00:00:44
preparing them for a world that no longer exists so people feel like that there are no opportunities there are no safe jobs anymore feeling like you're in
00:00:50
competition with AI and that leaves a whole generation of people feeling absolutely wiped out before they've even
00:00:55
started so what are the new set of skills people need to know to set them up in this Digital World well there's actually a step-by-step approach for
00:01:01
doing that including building a personal brand okay let's pause there why does that matter cuz that's the key to Capital Talent customers and it's not
00:01:08
about becoming an influencer with millions of followers but if you're seen as a key person of influence that's enough to make seven figures and is that
00:01:14
where your 5ps come in yeah and I'll take you through all of those and then there's the entrepreneurial pyramid which opens you up to this whole other
00:01:21
world of opportunities as well as side hustles and the two types of opportunities that everyone needs to
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know about I want to go through all of that let's do it
00:01:32
this has always blown my mind a little bit 53% of you that listen to the show regularly haven't yet subscribed to the
00:01:38
show so could I ask you for a favor before we start if you like the show and you like what we do here and you want to support us the free simple way that you
00:01:44
can do just that is by hitting the Subscribe button and my commitment to you is if you do that then I'll do everything in my power me and my team to
00:01:51
make sure that this show is better for you every single week we'll listen to your feedback we'll find the guest that
00:01:56
you want me to speak to and we'll continue to do what we do thank you so much [Music]
00:02:03
Daniel Priestley how do you define and describe what it is that you do with
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your content with your work um and through all of these books that you've published what is the summary of what
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you do and who you do it for so I have a massive passion for entrepreneurship about 20 years ago I started seeing a
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massive Trend uh about entrepreneurs who could stand out scale up and make a positive impact in the world through
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business um I have built multiple businesses over the last 20 years and I'm just uh fascinated by the
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predictable stages that people go through in order to build successful businesses um as I've been growing my
00:02:40
businesses I've been writing about it in my books um mostly to document what I'm learning myself um and I also built a
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community of entrepreneurs who wanted to uh essentially make the most of the times that we in so what's happening at
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the moment is we're going through massive amounts of change it's very similar to the agricultural age when it
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was replaced by the IND Industrial Age and there were New Economic rules that didn't apply to the agricultural age but
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did apply to the Industrial Age so the agricultural age was the feudal system and the Industrial Age was the capitalist system what's happening is
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the Industrial Age is fast being replaced by the digital age and as we go through this massive change we're seeing
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new rules and New Economic rules that apply so give you an example in the Industrial Age people had to to become
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successful people had to gain skills and then get a job and find an employer who
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would uh employ them for those skills as we go into the digital age what works is to build a personal brand based on your
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unique intellectual property and then to position that brand next to a scalable digital uh elegant business model and
00:03:45
those who are doing that and those who have figured that out are doing incredibly well and succeeding at speed and there's actually a step-by-step
00:03:51
approach for doing that I want to go through all of that I am I was running in Cape Town look at me plugging my
00:03:57
running brand that's lasted for 5 days um I was run in Cape Town and a young couple came up to me at the end of my
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run when I'd stopped uh running underneath this tree and they came up to me it was about the second or third of
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January they said um Steve we love your content we've been listening to dersy a while and they looked at each other and
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you could see that they were really stressed and they said we're just trying to figure out how to start a business and what we should be doing and I could
00:04:19
see in their face that they had been mulling it for a long long time there was this like they're very very young I'd say they were like 21 years old and
00:04:26
they were saying like what do we do and actually at that time I said you need to need to listen to an episode I did with Daniel Priestley but I also knew you
00:04:32
were coming on so I said and I'm recording with him shortly so make sure you listen to that so through the lens of that 21y old you've detailed that
00:04:38
their world has now changed they're living in this digital world where would you advise those two to start if they
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want to capitalize on the opportunity that's presented itself okay so I'll slow down for a minute what's happening
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at the moment is people in that situation they're feeling incredibly invisible um that they don't matter they
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feel stuck that there are no opportunities you can't buy a house you can't get a career uh there are no safe
00:05:04
jobs anymore um AI is disrupting everything um and they feel detached from meaning and purpose and that leaves
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a whole generation of young people feeling absolutely wiped out before they've even started it doesn't actually
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exclusively apply just to people in their 20s I know people in their 40s 50s 60s I know entrepreneurs who have
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traditional businesses who feel that way so it's worth acknowledging that it's a
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widespread phenomenon everywhere in the world people feeling invisible feeling the pain of like not being able to
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connect with the right people um and feeling stuck and feeling detached from meaning so what we need to do is address
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that be because what's happening is you're playing by an old set of rules and that's normal because the school
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system told you an old set of rules because it was based in the Industrial Age and we have to start by learning the
00:05:49
new set of rules so if I was advising 21 year olds in particular the first thing
00:05:55
that you want to do is called an entrepreneur apprenticeship uh an entrepreneur apprenticeship is where where you go and work in a small team of
00:06:02
less than 12 people where you have direct contact with an entrepreneur and in particular you're looking for an
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entrepreneur who has somewhat of a personal brand so they have let's say 5,000 to 50,000 uh followers on social
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media and they've got an elegant business model that inspires you it doesn't necessarily have to be exactly
00:06:20
what you want to do in the future but you need to learn the new rules so you need to learn how is that person
00:06:25
building their personal brand and how are they building their business so that it can scale how how do they communicate
00:06:30
with people anywhere in the world how do they sell to people anywhere in the world so those are some of the key things that you have to do you do not
00:06:36
want to become an entrepreneur straight away it's too big a shift you need to be a number two I was a number two I had a
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mentor I worked for an amazing guy for two years uh we went from 0 to 6 million
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in a year and from zero people to 60 people in one year so I got the entrepreneur apprenticeship first and
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that's where you want to start and then once you do that you can do side hustles and then begin the entrepreneurial
00:06:58
Journey on your own but how do you know if it's for you how do you know if you cut out for it so at the moment what's
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happening is that the rules are changing so fast that you it's not like anyone's cut out for it right so there is no sure
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feeling where you go oh I'm really cut out for this because it's giving me clear signals during times of disruption
00:07:17
the signals get uh jammed so what's happening is people are going through a
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schooling system that is preparing them for a world that no longer exists so we go through 12 years of school and it's
00:07:29
saying oh you know here's how you get ready for an employer well there are no employers and here's how you get ready for a career there's no such thing as
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careers anymore um and here's how you get ready for a job oh by the way that job can easily be done by AI already so
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all of this is happening and that means that people are feeling this void and they're saying well I don't feel ready for anything that's because you had 12
00:07:47
years of training for a world that doesn't exist anymore so what we have to do is say all right let's look at the
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world that is uh emerging and let's position ourselves for that world and res skill ourselves and reposition our
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El for that world when you were talking about that entrepreneurial apprenticeship it sounded like a new form of Education a new form of
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University are there any other ways if we're talking about that preparation phase where you're getting ready are
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there any other ways you would advise someone to rapidly Excel their Knowledge and Skills in preparation to become an
00:08:20
entrepreneur um is it books is it do I sit on chat GPT what worked for you books are great YouTube channels are
00:08:26
great I didn't have any of that um you know believe it or not even books were hard to come by when I was a teenager um
00:08:32
you know you had to kind of order business books in or you had to go to a big book store that had a business book section um we didn't have Amazon and we
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certainly you know anything like a podcast you actually paid for cassette tapes and CDs and they were $1,000 they
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were really expensive just to listen to some business content believe it or not that was a thing um and all of it's for
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free now online however there's you can't learn to ride a bike uh through
00:08:58
books and videos you have to get on the bike so the best thing to do is to work for someone who's building a business
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and if you can't do that become a co-founder with someone who's got more experience than you um and if you can't
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do that then you need to do some small side hustles a side hustle is an open and shut business case so within 90 days
00:09:16
you're going to start something and finish something all with within 90 days you're not going to get yourself into a long-term thing you're just going to
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start something see how it goes and it ends in 90 days when I was a teenager I did nightclub parties so the nightclub
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part had a time where we would agree with the club that we were going to uh have the venue then we had a promotion
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phase then we ran the party and then that was it at the end of the night we split the money and that was uh the
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finish and it all happened very quickly and you get the learning experience but you don't have the ongoing um connection
00:09:48
to the business I also sold roses uh door too um so on Valentine's Day I bought a few hundred roses we dressed up
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in tuxedos and we went door Todo selling uh Valentine's Day roses and that probably lasted 3 weeks um from the time
00:10:02
we came up with the idea to the time we found a supplier bought the Roses went door too uh and made our sales and then
00:10:08
it was all finished at the end of Valentine's Day so these are called side hustles and the important point is that
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they're not ongoing Ventures they're just open and shut and then you can reflect you can then sort of see what
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worked what didn't work and then see if you want to continue after that something else that i' I don't think I've ever heard many entrepreneurs or
00:10:27
Founders talk about when they're giving advice on that preparation learning phase is the importance of
00:10:33
writing yeah has that had a profound impact on me um my the rate in which I
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Learned was having a practice what stage in your journey did you write so I made a commitment to myself when I was 24 to
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write a tweet every day okay and I would screenshot it then post it on Instagram now this was maybe the single biggest
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hack in my life that I've never really talked about because of the all of the downstream consequences that occurred
00:11:02
Downstream consequence number one got to a million followers on Instagram by posting these quotes of ideas that I had
00:11:07
every day so every day at 7 p.m. my girlfriend knew at the time she goes he's going to go off for an hour and think of something to say um Downstream
00:11:14
consequence number two is it taught me how to communicate ideas in a concise high impact way and kind of what people
00:11:20
respond to uh and I'd say number three is it generally meant that if I went through my day and something had
00:11:26
happened it gave me a moment to condense that down into wisdom a little pie truth
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a piece of Truth so that day I learned something and um without that practice
00:11:38
those learnings kind of would have passed you by so what you're describing is actually Beyond just writing it's
00:11:43
publishing um and Publishing means to make public to put something into the public domain so yeah there's journaling
00:11:50
which you keep private but then there's making something public um and when you when you do this you have to think about
00:11:56
how would this be of value to others um so you'll thinking you know entrepreneurs have to be thinking about how would this be of value to others
00:12:02
you're putting it into the public domain so you're getting feedback as to whether this is a good idea or a bad idea or
00:12:08
okay idea um so yeah publishing doesn't have to be tweeting it doesn't have to
00:12:13
be um writing a book publishing is video audio um it can be long form content it
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can be short content uh you could do shorts you could do tweets right all of that is publishing the the essence of
00:12:25
publishing is that you're taking your ideas and sharing it publicly putting it in the public domain that is a very
00:12:32
rapid way to get started um interesting fact on this that out of the billion
00:12:38
people who use LinkedIn only 3% are publishing regularly and less than 1%
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publish weekly so you think that you're in competition with a billion people on LinkedIn 99% of people are just there to
00:12:51
kind of lurk and watch what other people are doing only 1% of people are competing 1% of people are creating the
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content on that platform um when it comes to YouTube there's 2.7 billion
00:13:02
users of YouTube but only 4% of people have an account and only a fraction of
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those accounts are active so it's a tiny percentage of the world's population that are creating something most people
00:13:12
are consuming so one thing that you're describing is the move from being a consumer to a Creator and entrepreneurs
00:13:19
have to make that move how have you accelerated your learning because you're someone that is able to give out lots of
00:13:27
different ideas from lots of different references points and there must be some kind of underlying framework you're using to like learn process and publish
00:13:34
which now presents you which is part of the reason you get invited on to all these podcasts now and people are paying you to speak at their events Etc what
00:13:41
was that framework for you so my background was I used to have an agency
00:13:46
and we used to run all these different events and we used to uh have to put stuff onto people's seats when we were
00:13:52
running events and I had to kind of write stuff all the time like quick reports and all of that so I got in the habit of writing I saw the power of
00:13:58
writing um in 2009 the entire world tipped on its head um after the global
00:14:04
financial crisis and I was completely disrupted uh I went from millions of
00:14:09
Revenue down to a few hundred thousand of Revenue I lost 90% of my Revenue in one year um it was mass it was I
00:14:15
remember one Christmas party 17 18 people at a Christmas party the following year was three um it was
00:14:21
morbid so during that time where the global financial crisis had such a deep
00:14:26
impact I began writing about what is it that I know to be true what is it that
00:14:31
like I don't know much because I've just had the rug pulled out from under me what is it I do know to be true what are the most uh strong truths that I could
00:14:39
share and I ended up writing the book called key person of influence in 2009 and it came out in
00:14:44
2010 and what I felt very confident about was this idea that the future was
00:14:50
going to see a shift from business and institutional Brands to personal brands that we would see the decline of big
00:14:57
faceless companies and the rise of uh individuals whose personal Brands were bigger than the institutions um and it
00:15:05
was pretty radical idea at the time but I felt pretty confident about it and the more I wrote about it the more I felt
00:15:10
this was where the world was heading um if we look today we can see Brian Cox Professor Brian Cox has more followers
00:15:16
than CERN um we can see Richard Branson has orders of magnitude more followers
00:15:21
than Virgin uh we can see elon's got more followers than NASA uh we can see
00:15:26
you know Trump is way more powerful than the rep Republican party so the the essentially the personal brand has just
00:15:33
gone whoosh ahead um but I was I I started that process very murky that I
00:15:39
didn't quite know what it was it was a feeling or a sense and by the time I'd gone through the publishing process of
00:15:44
writing uh I was clear and the macro factors that brought that about what are
00:15:50
those underlying shifts that happened that meant we went from the logo to the
00:15:56
person let's zoom out 300 years so the the agricultural age uh was essentially
00:16:02
the economic system was called feudalism and there was Lords and kings and queens and then there were surfs and people who
00:16:08
surfed the land and then technology changed things you can imagine what it must have been like when 300 people were
00:16:14
on a farm and then they saw three people on a tractor and then that tractor went
00:16:20
and went and did the job of hundreds of people with three people on it and it's like oh my goodness what are we all
00:16:25
going to do um how are we all going to live our lives anymore right and then they would have said well what are going
00:16:30
to be the jobs like everyone works in farming and it's like well there's going to be this whole new system there will be a completely new economic system
00:16:37
called the industrial system and it's going to replace everything so back in
00:16:42
the agricultural age uh if you were a lord right and if you were Rich if you were successful you had vast tracks of
00:16:49
agricultural land but as soon as the Industrial Age kicked in you didn't even need land you only needed a tiny amount
00:16:55
of land to put a factory on What mattered is that you had the ability to organize lab LA and machinery and if you
00:17:00
could organize a factory that was way more economically productive thanu hundreds of Acres so the whole economic
00:17:08
system got tipped on its head and suddenly it didn't matter if you a dukee it mattered if you an industrialist if you're a capitalist so this whole new
00:17:14
system took over we had 200 years of innovation and it went through multiple waves but the important thing to know is
00:17:20
that it's technology that changed things right it's always a technology shift right the the the fundamentals of the
00:17:26
economy are dictated by the technology that we have available to us so what
00:17:31
happened around the 2000s to 2020 is we had these general purpose
00:17:37
technologies that just got introduced as though they were nothing you know suddenly everyone can publish a video
00:17:43
online suddenly everyone can write a blog suddenly everyone can tweet everyone can form a community on
00:17:49
Facebook uh there's this device that you put in your pocket that is better than a
00:17:54
uh traditional camera studio that the BBC would have had so the the power was is just rapidly swinging from
00:18:00
institutions to individuals I'm sitting there going wait a second an individual
00:18:05
has got all the things that a multinational corporation has access to but they don't have the bureaucracy
00:18:11
right they don't have the the weight on their shoulders they don't make slow decisions they can make fast decisions so as I witnessed this technology being
00:18:17
introduced I said the way this is going is it's going to take all the power of big businesses and institutions and just
00:18:23
give that to individuals that's exactly what happened and I mean if there was ever a year where that's been more in
00:18:29
focus with this election cycle and what we've seen with Trump and going on Rogan and Cela going on Alex Cooper in the
00:18:36
media lands that's what cost the election so that's a big Trend um US
00:18:43
presidential elections have always predicted major Trends so Franklin Roosevelt in the 30s he did the national
00:18:49
radio campaign JFK in the 60s did the televised campaign Obama in 2008 did the
00:18:56
social media campaign of those campaigns changed the game Trump in 2016 did a
00:19:03
hyper personalized digital datadriven campaign famously with Cambridge analytica and that actually gave birth
00:19:09
to data analytics and hyper-personalization and then something big happened in
00:19:15
2024 and what happened is that Trump broke the mold on campaigning and he started going on all these major
00:19:21
podcasts and if we actually crunch the numbers Trump uh did something like 40
00:19:27
hours worth of Watch time uh and it got 124 million views and uh Kamala did I
00:19:35
think it was 7 hours just in the long form yeah just on the long form she did seven hours total and it only got a few
00:19:43
million views and one of her podcasts only last 7 minutes now what she did is
00:19:48
she approached it like a McKenzie consultant which is she turned up and she said here's the script here's the questions um ask me these questions and
00:19:56
then I'm out of here and it was very much the kind of um professional corporate approach Trump rocks up onto
00:20:03
comedians podcast and says yeah ask me anything and then he just goes on a big rant and it goes for 3 hours now what's
00:20:09
actually happening is is quite predictable in a world of short videos and in a world of AI and in a world of
00:20:16
confusion and disruption and and where everyone's throwing um punches at each
00:20:22
other saying your misinformation your misinformation you've seen some of this right going on right misinformation
00:20:27
misinformation what actually going on is that people say hey enough's enough I want to see a long form piece of content
00:20:33
and make my own mind up I don't want anyone to tell me what's in misinformation I'm smart enough I want to see if this Trump guy is a crazy guy
00:20:41
I want to be able to see him you know for two or three hours and I'll make my own mind up on that because everyone's
00:20:46
saying so many different things and I know that there's all this confusion I want the long form piece of content so
00:20:53
2024 began the long form unscripted era right so now where we are with marketing
00:20:58
is you've got to drop the script and you got to do long form content and here's my prediction the prediction is is we're
00:21:05
going to see the biggest CEOs in the world clamoring to get onto this podcast and other podcasts like it they're all
00:21:11
going to be wanting desperately to build their personal brand because they know that the long form unscripted podcast is
00:21:17
the only way to hire talented people the only way to get loyal customers the only way to keep investors happy it's going
00:21:24
to be the key to the entire shooting match is that the CEO of a big company
00:21:29
has to become human and they have to be unscripted and what advice would you give them because you consult for a lot
00:21:35
of people they come to you for advice whether it's the biggest influencers of the world or CEOs if if you were giving
00:21:40
them advice on how to achieve that goal what would you say well I I mostly talk to entrepreneurs and I mostly care about
00:21:47
entrepreneurs and the advice I give to entrepreneurs is work your way up the podcast pyramid um so there's literally
00:21:54
thousands and thousands of podcasts that get a few thousand views just go on those go on lots of them um if you do a
00:22:00
good job you'll eventually be invited onto a slightly bigger one and you'll eventually be invited onto a slightly bigger one again and there's this
00:22:06
pyramid of you know there's there's a few podcasts as big as yours but there's thousands of podcasts in every single
00:22:13
Nation Vertical where anyone can go on and you know talk about who they are and what they do so for any entrepreneur my
00:22:20
challenge to them the ones that I'm working with is an absolute minimum I want them to create 10 to 20 uh hours of
00:22:26
watch time in the year ahead so I want people to go on 10 podcasts that last
00:22:32
for 2 hours or 1 to two hours and I want them talking through their business story their origin their mission their
00:22:38
Vision uh you know how they got started the types of people they employ the types of customer problems they solve
00:22:43
the outcomes they deliver all of that put it all into a podcast get good at that format you publish in lots of ways
00:22:51
right you publish written form you publish in video is there anything at all that's if there was one single thing
00:22:57
that's helped become better at speaking or communicating ideas and you can't say
00:23:03
no I'll take away the restraints what would you say it is Frameworks Frameworks what does that mean so you
00:23:09
need communication Frameworks so if I'm introducing myself uh to someone I use
00:23:15
something called name same Fame aim in a game so we can break that down pleas um
00:23:21
what is my name and my business name uh what is uh what is it that I'm the same
00:23:26
as that you already understand okay let's pause there why is why does that matter uh when people are storing
00:23:32
information they need to open a folder and they want to open a folder that's very easy to label so um they don't want
00:23:38
to open a folder that says like I'm an energetic healer that works with transmutational objects that that
00:23:45
transcend time space and blah blah blah they want to go oh you know you're a life coach okay great I understand that
00:23:51
or you're a vet okay cool you're a consultant you're you know you're a software company got it so it's like
00:23:57
just the most basic thing that I can then hang everything on that um cuz I already understand it so name same Fame
00:24:04
so Fame is like what makes you interesting what makes you fascinating what big brands have you worked with what interesting projects have you
00:24:10
landed uh so anything that would make you stand out any big numbers any awards any big names um any of that would be
00:24:18
your fame um so name same Fame aim what are you working on in the next 90 days
00:24:25
and then game what is your bigger Vision what do you want to achieve the next 3 to 6 years I think a lot of people
00:24:30
aren't even clear on that a lot of people aren't and that's why the framework's powerful because it forces you to get clear on it if you then get
00:24:37
clear on it you can introduce yourself with power and authority uh you can do the beginning of a podcast you can be on
00:24:43
a stage just introducing yourself at a networking function believe it or not you can cram all of that into 30 seconds
00:24:51
MH and so going back to this point of preparation right so one of the big things that is going to give me a
00:24:56
significant competitive advantage if I'm building a business is personal branding what else do you think someone like me
00:25:04
at the start of my career needs to understand about the game of personal branding is there are there any particular platforms I should be aiming
00:25:10
at a particular upload Cadence a particular type of content here's what you need to
00:25:16
know you need to know that humans have a limited ability to remember names and faces they only have a small number of
00:25:23
slots in their brain for who they remember and the number is about 1,500 in in
00:25:29
total um and it's about 150 that you can kind of remember well and these are called Dunbar numbers and Dunbar numbers
00:25:36
basically said you've got a few slots for your family and then some more slots for friends then you've got your acquaintances right out to 1500 people
00:25:43
that you can easily put a name in a face to in order to you for you to be successful you've got to get into
00:25:48
people's head they have to kind of know who you are um in order to do that they
00:25:53
have to spend time with you they have to have rep uh repetition with you and they have to see in multiple contexts so the
00:26:00
research says 7114 7 hours 11 interactions on four platforms per in order for you to
00:26:07
remember me okay total so for example you and I we've now connected a few
00:26:13
times um so we have probably clocked up maybe 7 hours together now what that
00:26:18
means is that uh if I bumped into you at a conference even if I was on one side of the room and you're on the other side
00:26:24
of the room you'd say oh there's Daniel your brain would immediately go Oh there's Daniel I'll walk over I'll say hello because we've spent enough time together
00:26:31
um now there's this phenomenon called parasocial relationships parasocial relationships are basically one-sided
00:26:37
relationships it it's how we feel towards famous people so we think that
00:26:43
we know George Clooney we think that we know Angelina Jolly we don't it's a parasocial relationship that person
00:26:50
we've spent time with them through their movies through their media appearances and therefore because they've clocked up
00:26:56
7-Eleven 4 with us we then feel that we know them is this making sense makes
00:27:01
perfect sense yeah so what we have to do is build parasocial relationships at scale so what we have to do is put out
00:27:07
enough stuff where anyone can spend 7 hours 11 interactions for on four
00:27:12
platforms so when I work with entrepreneurs here's one of the questions I always ask I say if I was to
00:27:19
block out tomorrow and I'm going to take all day to watch read or listen to
00:27:24
everything that you've got available online and uh I'm looking for things that are on message that tell me about
00:27:29
who you are who you serve what it is that you do can I spend all day going through your online environment and just
00:27:36
fill the entire day and most people say no and then occasionally some people say
00:27:41
yes and they say yeah actually you can I've been on a few podcasts I've got an audio book that I released I've got some
00:27:46
videos on YouTube I've got some posts on LinkedIn you could go through all of that those are the ones that are scaling
00:27:52
really fast because they've put in the work to be scalable they can build a parasocial relationship like that and if
00:27:59
we drill down into the art of building a parasocial relationship because it's funny at the start of the conversation
00:28:05
you said that these are the new rules in business and the world because of these macro changes but at some point the new
00:28:12
rules become the old rules again when everyone listens to this podcast and you kind of see it at the moment on LinkedIn
00:28:18
LinkedIn is a um a long stream of professional personal brand builders
00:28:24
whereas 5 years ago it wasn't the the case but the but the numbers are still only 1% of people are doing it 99% of
00:28:31
people aren't posting weekly so we're still early we're still way early but is there is there a framework for creating
00:28:39
some kind of differentiation amongst a noisy crowd yeah so the the
00:28:45
differentiation so a lot of people ask me about differentiation so let's talk about what makes you different and to
00:28:50
you to talk about this let's go through a scenario and the scenario is that you're walking down the street and
00:28:56
you're walking down Oxford Street and it's thousand thousand of people really busy street and as you're walking down
00:29:02
your brain has this lyic system that just deletes people so you just kind of
00:29:07
see people as blobs not to hit and you just kind of walk and if I stop you at the end of the street and I say how many
00:29:13
people do you remember seeing you'll go none I don't remember seeing anyone in particular if I said describe some of
00:29:19
the people what they were wearing I can't remember anything so your brain is extremely good at deleting messages and
00:29:25
this is what's happening in our marketplaces people just delete everything here's what doesn't get deleted so
00:29:30
there's there's five things that will not be deleted by the brain the first one is scary so if something is scary we
00:29:38
pay attention to it this is why the news has been so successful for many many years because they say if it bleeds it
00:29:43
leads if it's scary if it's horrible people will watch it let's find the the worst possible things that happen today
00:29:50
let's blow them up and put them in everyone's house so that they spend time watching uh watching the news so so be a
00:29:56
scary person so be scary right uh the next one is be strange so if you
00:30:01
saw someone walking down the street dressed as a giant hot dog you'd say oh I remember the guy who was dressed as a
00:30:06
giant hot dog cuz it's so strange peacocking yep well peacocking yeah uh you could try yeah exactly you could
00:30:12
wear that big kind of hat that you've got in the cupboard that uh that you don't talk about M uh and then the next
00:30:18
one's sexy so so we've got strange we've got scary we've got sexy now these are
00:30:24
three things that most businesses don't want to be so most business can't stand out and sexy even if they wanted to be
00:30:30
that most people can't pull that one off anyway um so only a few lucky people get to do that one um but actually the last
00:30:37
two are the ones that are most useful and that is providing free value so free things anyone who gives free value away
00:30:45
is immediately stand out okay we've got to make sure that it is value it's got to be value because
00:30:50
everyone thinks what they're doing is value totally it's got to be something that people would have otherwise paid for um and it has to be beautifully
00:30:56
packaged so if I hand you a piece of jewelry in a plastic bag you're going to think oh it's fake or it's you know
00:31:03
stolen or it's you know not real or something like that it's cheap right if I hand it to you in a beautiful box and it's beautifully wrapped you're going to
00:31:09
say oh that's a very thoughtful gift so it's the way that it's packaged and it's also you know that it's actually
00:31:14
something that people would otherwise pay for so providing free value um and also being familiar which
00:31:21
is clocking up the 7-Eleven 4 so free and familiar are the two things that
00:31:26
anyone can apply so look at let's look at you for example you spend tens of thousands of pounds producing episodes
00:31:33
of this show and you just make it freely available on um YouTube I Wish that's how much I spent well each each show
00:31:41
right um so you're putting all this energy and effort in and you're putting
00:31:46
high production value you're going to the expense of getting all these great guests all of this stuff's going on and then you're making it free for so many
00:31:53
people you're including people in conversations that they normally wouldn't have access to so you have
00:31:58
clocked up enormous amounts of standout value for people because you've been
00:32:04
consistent so 7-Eleven four people have spent 7 hours 11 interactions four locations with you um and also you've
00:32:11
done free value so you've given a lot for free so um essentially those are the two um and you're also strange so so
00:32:20
with those three things you've been able to uh succeed massive we do have scary conversations as well I have to be
00:32:25
honest we do the nuclear bomb conversation sexy millionaire so you've got that as well yeah sexy as well thank
00:32:31
you so much for that you've got all five going on but when you were saying this I was actually thinking of this as a a
00:32:37
marketing framework for Brands as well I was thinking of that kid that I met on the in the prominade in Cape Town with a
00:32:42
couple and I was thinking if they were starting out with an idea today in a very saturated environment like Oxford
00:32:47
Street in London pulling in on some of these actually gives you such an unfair advantage to get to get going and I I
00:32:54
know this myself because when I was 18 one of the things that I realized in
00:32:59
hindsight was working for me was I looked a bit strange I had this big which some people will find photos of
00:33:04
this big hat that I used to wear and I would wear it everywhere I wore it because my hair was but it became this like this distinctive thing that at
00:33:12
conferences at events on my LinkedIn it became part of my brand that's why I interjected with the word peacocking
00:33:17
because looking slightly different in some way does actually it does work yeah it cuts cuts through the noise the other
00:33:25
thing too let's go to your friends the 20 Oney olds in Cape Town one of the
00:33:30
first things we can do for free is we can um productize what's called the demo
00:33:37
and the customer needs analysis so let's get really tactical here um when it
00:33:43
comes to what most people do to launch a business they make a real focus on the
00:33:49
supply of what they do so if they let's say they want to do a drinks business they're going to like talk to bottling
00:33:55
companies and they're going to talk to you know how much do I have to spend buying the fruit to put in the tea and
00:34:00
do all that sort of stuff they're thinking about the supply of what they do um if they're going to launch a consulting company they're thinking
00:34:06
about oh do I have the right MBA qualifications and all of this stuff is the supply side of what they do what we
00:34:11
want to do when we launch anything is we want to test the demand of what we do so testing demand the best way to do this
00:34:18
is or one of the best ways to do this is to productize the demo and a customer needs analysis so that is where we go
00:34:26
around and we sell a presentation that might be 15 minutes to an hour where we
00:34:31
present what it is that we can do and how it works and the principles of how it works and then we collect enough data
00:34:37
to identify whether you've got the need for that product so it's called a customer needs analysis so the demo and
00:34:43
the customer needs analysis you can package that up so it feels like a product it feels like something free of
00:34:49
value um so give me an example then using I'm going to launch a a new coffee yeah and it's the the point of
00:34:54
difference with my coffee is it is going to be if Fido fantastic so uh let's imagine that
00:35:02
we're going to sell that through retailers yeah and the real customer is not the end User it's the retailer who's
00:35:07
going to stock it so what I would do is I would say we've got a new coffee brand coming and it's all about coffee for
00:35:13
libido boosting um and what we want to do is we want to present to you the data
00:35:18
the research as to how this coffee works and why it works and all of that sort of stuff we want to show you the branding
00:35:24
we want to show you like what this is going to look like and then also we want to do is set up a customer needs
00:35:29
analysis where we collect the data from several of your locations to find out in advance whether people would sample this
00:35:35
product whether they'd buy this product how much they'd spend um so we will at our expense do the clipboard or we'll do
00:35:41
the um weight list campaign um or we will uh collect the data uh through um
00:35:48
you know a coming soon promotion so essentially what we're going to do is we're going to present the data and
00:35:53
we're going to do the customer needs analysis or present the demo the customer needs analysis and that's all going to be packaged up as our first
00:35:59
thing now mind you we may have no coffee at this point we may actually have no physical product but big retailers they
00:36:06
move slow anyway even if you had product they wouldn't buy it today so they're going to say oh that's fantastic that's
00:36:11
what we'd like to do we want to collect the data and we want to see the demo and see the research so by packaging that up
00:36:17
as a first step uh you're actually providing initial value do you know one of the things that I don't think I've
00:36:22
ever talked about that I think um entrepreneurs and people that are founding companies should really consider
00:36:28
is if you're thinking about let's say writing a book instead of writing the book and
00:36:33
then hoping it does well what you should do is you should take the book ID you have and then run it as a Facebook ad
00:36:42
run a hundred different titles um and when people click on that Facebook ad they hit waiting list yes now in that
00:36:48
whole process what you've just done there is you figured out the exact percentage of people that will click on
00:36:54
um a 100 different ideas so for my upcoming book one of the things that I did and some people listening to this now would have seen the ads is I ran 70
00:37:02
book titles beautiful so 70 books like this would have popped up in your feed and people have clicked on them and
00:37:07
they've said I want I would like that book they put their email address in or something like that and now I have this data and I can tell off the top of my
00:37:12
head which is the most successful 15% of people clicked a certain one and the worst performing one was clicked by 0.3%
00:37:20
of people and I could have written a book um about that 0.3 and my maths isn't exceptional but the very between a
00:37:27
0.3% conversion and a 15% conversion is like what is that 1,500% or something
00:37:33
crazy um and and it was and it was cost me 200 quid to run the test yeah um
00:37:39
that's the beauty of Facebook ads you know you can do a I mean at any given time we've got hundreds of different variations of ads running and they it's
00:37:46
like you know it's basically The Hunger Games for which ad performs better um and people don't do this sort of stuff
00:37:52
and this is how professionals like yourself launch businesses so um with anything that I'm launching whether it's
00:37:58
a book or a product or a new business we're going to run a set of Facebook ads probably 10 20 30 different variations
00:38:05
when you click on the link it says this product's no longer available in your area or this product is not yet available in your area M um but you can
00:38:12
join the waiting list click here to join the waiting list now once people click to join the waiting
00:38:17
list uh that's where we ask about five or six key questions so there's this thing inside people's head called the
00:38:24
situational model and the situational model is where am I now where do I want to be what's in my way and what do I
00:38:30
perceive as the path of least resistance so all the questions that we ask are
00:38:36
tell me about who you are today which best describes your current situation tell me about where you want to be which
00:38:42
best describes the outcome that you're looking for from this product or service uh what's in the way which best
00:38:48
describes the reason you've not been able to get that outcome in the past mhm and what are you currently considering
00:38:56
as an option for getting that out outcome right so those are the key four key questions then we might ask some
00:39:01
price questions uh what price do you feel would be a fair price to pay what
00:39:07
price do you think would be so cheap that it would make you question the quality what price would be so expensive
00:39:13
um that you would no longer be able to afford this so we'll ask a few pricing questions so we don't just get people to
00:39:19
join a waiting list we're saying we want to understand this situational model because here's the interesting thing
00:39:26
especially with other products not necessarily books but with other products sometimes you get a lower clickthrough rate sometimes you get um
00:39:33
what appears to be cheaper marketing but it attracts the wrong person yeah and then sometimes you get a poorer
00:39:39
performing marketing campaign so this one might produce leads at10 a lead this one might produce leads at 20 pound a
00:39:45
lead but this one might be attracting students who are broke and this one might be attracting chief executive
00:39:51
officers who are on 500 Grand a year I'd rather pay 2020 for that client than £10
00:39:56
for that client M so by getting the situational model uh we can actually then understand which is the best
00:40:03
campaign is there anything else that's really sort of pertinent to testing if my idea has legs and I want to just add
00:40:09
an element to this which is we're not just talking here about the first idea we're talking about every product you
00:40:15
then release in the future every product every business even your marketing campaigns and everything you do yeah the
00:40:20
the world is moving so fast that if you're an existing business listening to this let's say you're a big business you do tens of millions of profit you're
00:40:26
going to be pivoting into new products new markets new territories you're going to be um trying to attract different age
00:40:32
demographics you're going to be you know all of that sort of stuff this is one of the rules of the current economy is
00:40:38
about data and testing you've got to be really fast with how fast you can prototype and test and get the data um
00:40:45
so we love intro events where you just simply do an introduction event on Zoom
00:40:51
uh to talk to customers um so we're introducing you to this new coffee um what do you think uh come and join the
00:40:57
introduction event we're going to share with you some research we're going to have a guest speaker who you've already
00:41:03
heard of right so that would be an introduction event um I'm a big fan of discussion groups discussion groups are
00:41:08
awesome for testing an idea so let's say um it's a discussion group you know
00:41:15
let's say you're doing a a new brand of coffee and it's for sex coffee sex coffee right sexy sexy coffee um so yeah
00:41:23
we're going to do the sexy coffee discussion group right and it's basically we're launching a new product um and it's all about uh bringing sexy
00:41:30
back to Coffee um and if you love having coffee and you want uh want to be part
00:41:35
of this new brand that we're launching join the discussion group discussion groups are pretty wild so I'll give you
00:41:41
two examples of discussion groups one of our clients um Gabriella Rosa she uh ran a clinic um and it was a fertility
00:41:48
clinic and it was about natural fertility breakthroughs um and what she did is she had a physical Clinic that was running a traditional way she wanted
00:41:54
to go and be more digital so she launched an online Discussion Group where she said this is a discussion
00:41:59
group for people who want uh fertility breakthroughs 23,000 people joined the discussion group right and it was super
00:42:06
active and she never had to worry about customers ever again and she built her business then globally uh from there she
00:42:11
wrote a book and she changed her business she went from a physical location to a digital business um but it
00:42:16
it started with a discussion group um another guy one of our clients Max he
00:42:22
sold a business not for crazy amounts of money but a decent sale and he decided
00:42:27
he wanted to um spend time with people who had uh family officers and family officers have hundreds of millions of
00:42:33
dollars to invest and they're like basically the family office of multi-billionaires and things he reached
00:42:38
out on LinkedIn and he said I'm launching a WhatsApp group for people who run a multif family office or a
00:42:44
family office if you'd like to join uh it's limited to 400 people if you'd like to join fill in the application form to
00:42:51
be part of our WhatsApp group for family office so he ended up with 400 people who have collectively over 10 billion to
00:42:56
invest and he built himself a a group of people who are some of the most successful investors in the world and some of the
00:43:02
biggest checkbooks in the world um so it just started with a WhatsApp group so um a discussion group is just a super easy
00:43:09
way to launch anything um and it costs nothing to set up a discussion group on WhatsApp on Facebook on LinkedIn um so
00:43:16
those are some of the some of the best ways and the final one that I love is called an assessment so a quiz or an
00:43:22
assessment and this is basically where essentially you turn the customer needs analysis into an assessment and people
00:43:30
fill in questions to find out uh if they would like the thing so for example I
00:43:35
noticed on one of your which one hu sorry I noticed on hu that you have a
00:43:41
quiz um and the quiz is which hu is right for you um and if you click that
00:43:47
button you answer a series of questions and it tells you which product would be the best product for you to uh for you
00:43:53
to take I noticed that whoop didn't have it right so I actually created one for you anyway I'll give it to you later um
00:44:00
but basically if you wanted to launch a product like whoop you might do an
00:44:05
assessment which is how well do you know your health and fitness you know um do you are you tracking your sleep are you
00:44:11
doing this are you doing that so by launching the assessment first while you've got the product in development
00:44:16
you could get 10,000 people who filled in the assessment now if they've come up with a score that is like oh I only know
00:44:23
my health and fitness 22% I need to get that up to over 80% I need a product that helps me to do that so that
00:44:30
assessment is essentially diagnosing a need you're helping the customer diagnose a need maybe they won't clear
00:44:36
on yeah so this is customer needs analysis smart businesses often sell the
00:44:41
needs analysis before they sell the product especially with anything that's C uh especially anything that is complex
00:44:48
but it goes beyond that because most customers now feel a sense of clutter in their lives we've gone from feeling 100
00:44:55
years ago we felt that we had lots and lots of things that we wanted or needed and we had unmet needs most people feel
00:45:01
the opposite today we feel that we have too many books and we haven't read them we have too much entertainment we
00:45:06
haven't watched it we have too many clothes and they're cluttering up our wardrobes our houses are full of stuff
00:45:12
so people feel such clutter that they only want things that are hyper personalized to the thing they actually
00:45:18
need um because otherwise they feel you know that it's going to be another thing that they're not using so by selling a
00:45:25
customer needs analysis when people see that it's a perfect fit then they want to buy in my last book The Diversy of 33
00:45:32
laws I talk about um the idea that friction can create value and I give examples of where someone has added
00:45:38
friction to the customer process and it's resulted in more people buying and one of the studies I talk about is where
00:45:44
they took two groups of people they exposed one of them to a survey in order to enter a discussion group MH right so
00:45:51
they had to go through the survey process to get in and they let the second group straight into the discussion group Y and then they asked
00:45:56
both groups to rate how valuable and enjoyable they found their Discussion
00:46:01
Group to be now the group that had had to go through a survey to get in yeah reported that the discussion group was
00:46:07
like really interesting etc etc and the group that had been let straight in reported that it was boring and it was
00:46:13
an intentionally boring group The so they made an intentionally boring group but just because you made someone go
00:46:18
through a process to get in people reported that it was more valuable than otherwise which says something about our
00:46:24
psychology well friction does create value um demand and supply high tension is the ultimate test of value um you
00:46:30
know it's horrible to say and I I hate this being true but there is no such thing as objective value nothing is
00:46:37
objectively valuable everything is subjective why is a Bitcoin worth what a Bitcoin is because there's more buers
00:46:43
than sellers there's demand and Supply tension why is water free because it's freely available there's no friction why
00:46:49
do we never stop and think about how incredible it is that we have Google Maps and like we go like oh my goodness
00:46:56
someone's spent a billion dollar sending satellites up so that I can have maps on my phone for free like no one's weeping
00:47:03
tears of joy for Google Maps and we should be because he you know someone spent a billion dollars on our behalf so
00:47:08
we've got free maps on our phone but there's no friction around it now if they suddenly said we're taking it away
00:47:14
we'd hit the roof yeah and if they said it's 10 bucks a month we'd pay 10 bucks a month MH um so friction creates value
00:47:22
um demand and Supply tension creates value now the very difficult thing that we have in the world right now is that
00:47:28
in a digital environment there's no natural tension right so 100 million
00:47:33
people can watch a video in a week and you know it transcends time space wear and tear there's no barriers there's
00:47:40
nothing that stops IT the money accumulates around those tension points
00:47:45
so the successful businesses they know how to use the digital environment to drive up demand and manufactured desire
00:47:51
and manufacture demand and then they have choke points in their business or tension points in their business where
00:47:56
demand and Supply tension is rif and those are the places where they monetize mhm um something that's really
00:48:03
interesting about monetization that's happening at the moment is that all the money is moving up to the top 10% right
00:48:08
so as as we go through this big transition the affluence is all up in
00:48:13
the top 10% so we did some research into this the top 1% of people in your audience in everyone's audience whether
00:48:20
you're a you know LinkedIn account or whether you've got millions of followers top 1% have got a total of 15% of the
00:48:28
budget available to spend the next 9% have got 45% of the budget available to
00:48:34
spend so in the top 10% there is 60% of the available budget and then the bottom
00:48:40
90% collectively have 40% so what happens is that the new
00:48:47
business model that's emerging is that you give free value to the bottom 90% and you don't ask anything in return but
00:48:53
you monetize the top 10% and you find things that are very special very rare special experiences special products
00:49:00
limited editions um communities uh special access the top 10% have got all
00:49:06
the money so you just give free value to 90% of people and you only create products and services for the top 10%
00:49:11
that's very much a new business model at the moment and the 90% are driving your content your business your product to
00:49:18
the top 10% through their engagement they're sharing Etc well it's a fractal it doesn't matter what you do the top 1%
00:49:25
will even if even if you only did something for billionaires the top 1% of billionaires have got 15% of the total
00:49:31
budget and the and the bottom 90% of billionaires have actually only got 40% of the budget if you take the Forbes
00:49:37
list it's still those numbers still apply um the key is is that you well
00:49:43
actually what you want to do is the opposite you don't want to get dragged down into the 90% because the 90% are
00:49:49
the noisiest they're the loudest so if you ask everyone how much should I
00:49:55
charge the Aver Aver answer is going to be $500 but if you ask the top 1% how much should I charge the average answer
00:50:01
is going to be $5 to $20,000 so you have to be very very careful not to create a product that
00:50:07
gets dragged down towards the 90% because the 90% don't have the budget to pay the top money you're far better off
00:50:15
having a way of um a way of segmenting that top 10% so
00:50:21
that you can actually pick up the signal from them and not the noise from everybody else are there any other
00:50:27
Frameworks that you would use in that early stage where you're trying to figure out if your idea has traction or
00:50:34
even from a sort of motivation psychology perspective if it's worth pursuing this
00:50:40
thing for the next 10 years of your life because we talk a lot about a cave someone's clicked on it someone there's demand and interest but the Journey of
00:50:47
an entrepreneur is an emotional one and as you often say there's you go through hell in high water ups and downs as an
00:50:52
entrepreneur so there's an element of this which is like you figuring out what you want to commit your life to well we
00:50:58
call this the entrepreneur Sweet Spot and The Entrepreneur sweet spot is a vend diagram and you're trying to
00:51:03
balance between your passion yeah the problem and the value of the problem that you solve and how much people are
00:51:09
willing to pay for that so passion problem payment uh so ultimately things
00:51:15
that we're highly passionate about that's great but that only ticks one box and if you're passionate about something
00:51:21
but you're not solving a problem for others and they're not willing to pay you for it you're going to feel very unrewarded you're feel um disconnected
00:51:28
maybe you feel even unethical uh about that uh a lot of people in corporate
00:51:33
jobs they solve a problem and they get paid well but they're not passionate about it and what they tend to do is throw the baby out with the bath water
00:51:40
and they go and pursue being a yoga instructor from being a corporate lawyer and then they wonder why they got no
00:51:45
money because they just kind of threw away the thing that they're very good at and the thing that they get paid for and
00:51:50
just exchange it so what we have to do is actually try and capture all three by
00:51:55
making some com risers and the compromises are I'm not going to go to the thing that is the extreme of passion
00:52:01
and I'm not going to go to the thing that the extreme of financial rewards not going to go to the extreme of my
00:52:07
intellectual property and my problem solving abilities I'm going to find something that is in the middle that ticks all of those boxes so I'm getting
00:52:14
a good blend while understanding that I'm there's going to be a trade-off there's going to be there's got to be some trade-offs yeah you can't have you
00:52:20
can't have it all at the extremes you can have it all but not uh all at the extremes you you talked about some at
00:52:26
the start of this conversation you mentioned the word geography um as we were talking about the macro factors that are at play in
00:52:32
the transitions we've seen my question to you is does geography matter for
00:52:38
success as an entrepreneur so those kids in Cape Town do they need to be thinking
00:52:43
listen we need to move to one of the major cities if we're going to have stand a chance in most of these new digital um opportunities it used to
00:52:50
matter a lot when we used to think about entrepreneurs we thought about two men typically in their 20s
00:52:57
who came from a prestigious us University they got into a garage they
00:53:02
you know they Dro they dropped out of Harvard they dropped out of Stamford uh and then they started something that was
00:53:08
VC backed that was the old model of what we think of as an entrepreneur and it was very much dependent upon those
00:53:14
parameters entrepreneurships transcended that it's transcended geography gender
00:53:19
race um and and also the size and scale of what we consider to be successful so
00:53:24
what we're now seeing is people all over the world who are able to connect with markets anywhere in the world launch a
00:53:31
product that can be sold anywhere in the world um we're seeing people who bootstrap rather than get VC Capital uh
00:53:37
we're seeing people who um rather than trying to create something Mass Market they create something niche market rather than trying to scale to be a
00:53:43
unicorn they actually ask the question at what size would I be fulfilled so there are plenty of people who you well
00:53:51
one of the most fulfilling businesses that you'll ever have has between 6 and 12 people and does 3 or 4 million of
00:53:57
Revenue and if you've got that probably you're going to be the most fulfilled person in the world it's profitable yeah
00:54:03
well because a lot of these businesses have 60% margins if they're digital businesses if they're intellectual property um you know if they're running
00:54:10
on the new economy assets then they'll be wildly profitable so you might have 6 to 12 people do 2 or three million a
00:54:17
year you might make a million of clear profit um and then you're totally building business on fund freedom and
00:54:23
fulfillment are you the next Google absolutely not do you have VCS breathing down your neck no um are you able to
00:54:30
pick and choose the types of people and opportunities you want to work with yes so incredibly fulfilling so that's a new
00:54:37
type of business I would call that a lifestyle Boutique um there's another type of business called a performance
00:54:42
business um and this is a business that typically has 30 people normally working with some sort of technology and they
00:54:49
build a business that they build a business that can be solded for between 10 and 100 million and that's my that's
00:54:55
my game I like businesses that achieve 10 to 100 million of valuation with about 30 people on a team and we can
00:55:01
sell to either a public listed company a private Equity backed company um we can exit to any of those kind of companies
00:55:08
but you know we don't have to be the next Google and we also don't have to split the exit with a VC why do you say
00:55:15
that when you also just said that the most fun and fulfilling businesses are actually those small ones with a small group of people in order to go to that
00:55:21
next level you have to be a business geek so anyone can build a to 12 person
00:55:27
business and at that point all you have to geek out on is the topic of interest to the customer so if your customer
00:55:33
loves yoga you're just talking about yoga all the time or if your customer loves photography you're talking about photography and you don't have to be a
00:55:40
business geek at that point when you've got a team of about 30 to 100 uh you
00:55:45
have to be a you have to be totally into the product the intellectual property of what you do but you also have to geek
00:55:52
out on technology and you also have to geek out on business so not everyone is built for that you have to really love
00:55:59
your acronyms you need to like oh go to market strategy or you know lifetime value of a client okay what's the LTV
00:56:06
what's the GT you know GTM so you kind of got to be into all of those things uh quite naturally you naturally want to
00:56:12
read business books um so you're not going to enjoy that if you hate business or if you hate technology because those
00:56:18
businesses tend to be about um business strategy and Tech these ones are about intellectual property media and data got
00:56:25
you do you think you would be happier if you were less ambitious um I my happiness
00:56:33
levels are really high um I walk around feeling like I'm super lucky to do what I do and it's total privilege and I love
00:56:39
living in these times I can't believe I'm lucky enough to be born at the perfect time to see this change and and
00:56:47
to have access to all these resources and what how do you think about work life balance these days and how should
00:56:52
especially sort of young Founders when I say young Founders I don't mean age I mean stage um should be thinking about work life balance in your view so I had
00:56:59
no balance for many years probably a decade or more um all I did was uh
00:57:04
essentially just get out of bed work uh everything related to work and the reason I did that is that it ticked all
00:57:10
of my human needs right I was getting significance and variety um and I was um
00:57:15
you know getting uh certainty and I was getting all of those things that we want from life and I was feeling a sense of
00:57:21
growth and development and learning so everything plugged into those human needs and my business was giving me all
00:57:27
of that when I had uh kids and I got married there was this whole other side to me that needed to be balanced and I
00:57:34
think that there's more to do with there some Seasons like that we go through Sprints and I tell friends family uh Hey
00:57:41
I'm going through a bit of a Sprint right now we're launching something new um and then there are times where I switch off a lot do do you goal set at
00:57:49
all do you set goals and if you know I used to I used to set goals and I used to love setting goals I don't anymore
00:57:56
because my key person of influence brand brings in opportunities that I can't
00:58:02
predict so this di of a CEO thing was an example of that I had all these goals for 2024 and then you message me while
00:58:09
I'm skiing and say would you like to come on the show and I go of course that would be amazing so I come on the show
00:58:16
and then that totally transformed my year so as you build a brand it's harder to goal set because you've got too many
00:58:23
things so goal setting is about direct power direct influence and um having a
00:58:28
brand is about indirect power or indirect influence it's what you attract so uh ultimately at the early stages
00:58:35
goal setting is really important because it's how do I direct my energy once you get a little bit bigger you have to slow
00:58:42
down to speed up you have to create space to see what's happening around you one of the biggest mistakes I've ever
00:58:47
made was filling my diary so full that I didn't see some of the biggest
00:58:54
opportunities that were going on around me and I think this has cost me tens of millions and I really think at a certain
00:58:59
level strategically you have to slow down to speed up you have to create gaps
00:59:04
where things can hit you things can get onto your radar um or else you miss all
00:59:09
the benefits of having a great brand so I had a few questions here one of them is about how
00:59:15
you measure or quantify the value of an opportunity looking forward when you have very little information about the
00:59:20
opportunities so so what we what we're trying to move towards is leverage so that we live in a world of leverage and
00:59:27
there are types so it's important to understand there are type two types of opportunities there's bell curve
00:59:32
opportunities and power L opportunities so bell curve opportunities means that everything fits within a bell curve and
00:59:38
it's very unlikely that anything will be outside of that bell curve power LW opportunities means that because of
00:59:43
Leverage the sky the limit um what we have to do is have the courage to move out of bell curves and into Power laws
00:59:50
so for example a doctor in the NHS who I know um recognized that all doctors earn
00:59:56
roughly the same amount of money there's no outliers everyone who works in the NHS if you're a new doctor you earn
01:00:02
about this if you have been around for 20 years you ownn about this um and most people fit within that bell curve
01:00:07
there's no doctors who are making a million a month um type thing then there's the power law law this
01:00:13
particular guy dropped out of being an NHS doctor to become a YouTuber and recognized that there are some YouTubers
01:00:19
who are actually earning a million a month and boom there is this power law that goes up so what we're trying to
01:00:24
find out Ali AB yes of course Ali abdal so what we're trying to figure out is we're trying to
01:00:30
figure out um is this a b curve or a power curve power law so being a speaker
01:00:37
on a stage absolutely a power law uh move being friends with a billionaire in
01:00:42
Italy and having access to that Capital Access to how whatever networks they've got all of that sort of stuff if they're
01:00:48
the right sort of person there's definitely two types of billionaires but um but uh that's probably an exponential
01:00:56
opportunity right it it puts you further up the power power law um it's not a
01:01:01
bell curve opportunity um however if someone says you know can we meet to talk about some incremental thing no
01:01:08
that's that's a bell curve right that's not going to that's not going to break me out of what I'm doing so for most people listening to this most people are
01:01:16
trapped inside a bell curve you're never going to get out of that bell curve every opportunity fits within that bell
01:01:21
curve you're only going to incrementally move to one from one side of the bell curve to the other side side of the bell
01:01:26
curve and that's about it there is no massive upside if that's you what you need to be
01:01:32
doing is spending a little bit of time talking to people about exponential opportunities right and exponential
01:01:38
opportunities always involve leverage that's what creates the exponential shift leverage could be Fame leverage
01:01:43
could be Capital leverage could be large databases uh leverage could be huge
01:01:49
distribution networks that already exist leverage could be a partnership with someone who's way further along than you
01:01:54
are uh leverage could be being in business versus being in a job so all of those things are things that move you
01:02:00
onto the power law and there's it's almost the Skies of the limit at the moment because in
01:02:06
2010 28% of the world had fast internet and in 2025 70% of the world has fast
01:02:12
internet so 70% of 8 billion people have got fast internet so the world the
01:02:18
actual the number of people available to talk to has gone into the billions and
01:02:23
billions and billions the amount of capital is flooding into the internet um everything is in that space and
01:02:31
ultimately unfortunately one of the things that's happening at the moment is that you're either in competition with
01:02:36
everyone in the world or everyone in the world is a is a potential customer and
01:02:42
um if you feel that you're in competition with everyone in the world which a lot of people do it's terrifying
01:02:48
it feels horrible it's it's absolutely uh scary to think that you know for a lot of businesses and a lot of
01:02:54
individuals with a career it's it's like wow I'm in competition with AI I'm in competition with an agent uh an agency
01:03:01
in India or or a a remote worker in the Philippines who's happy for $5 an hour
01:03:06
um I'm in competition with someone who's phenomenally well funded in La uh I'm in competition with this incredible Tech
01:03:13
Team in Silicon Valley uh YouTubers YouTubers I'm competing on the
01:03:19
opportunity I'm competing for attention like how am I going to survive and then the flip side of that is that once you
01:03:25
make this transition to this new rules new way of doing things then it flips it's like oh everyone's a potential
01:03:31
customer so how do you think about defense you know you in many of your businesses that you run you're in
01:03:37
competition with lots of people where do you find areas to defend against that competition the sort of proverbial blue
01:03:44
oceans so what I'm looking for when when I set up my businesses to scale is we
01:03:49
asked the question how many people this year could we either
01:03:56
uh take on and leave them feeling completely delighted uh how many people this year would represent a phenomenally good year
01:04:03
right so in one of the businesses the number is 600 we say Okay 600 people if
01:04:08
we have 600 people 600 clients in this particular business for this year that's a really good year we're happy with that
01:04:14
year so we call that the official capacity of the business we give it a name official capacity is 600 then we
01:04:20
ask the question what percentage of our leads buy that product and and in that
01:04:26
business it's one in 66 so for every 66 leads we generate we get one client who's who's the perfect client so it's a
01:04:33
very particular focused business so then we know that we need to engage 49,000
01:04:38
people and if those 49,000 people engage with this then we will be able to select the 600 clients we work with and that we
01:04:45
will absolutely do everything we can to leave those 600 people feeling delighted that they want to recommend it and refer
01:04:52
it and they love it and for us just simply knowing those numbers that allows
01:04:57
us to say ah okay we engage 49,000 people we make our 600 sales it's a super successful year we can celebrate
01:05:04
that so by setting the rules to our game we're not dragged into anybody else's rules and that means that we're playing
01:05:10
uh a really defensive game we're defending against all the things that we could focus on by being really specific
01:05:16
about what we want to focus on and is if you know for those kids on the prominade in Cape Town that I keep referring back to if they had asked you if they said uh
01:05:23
Daniel what industry would you start a business in today if
01:05:29
you were us and you had limited funds well let let's do some big trends the
01:05:35
the biggest so biggest opportunity at the moment is 50% of the economy is
01:05:41
owned by Baby Boomers people aged 61 to 79 so that's 50% of the US economy 50%
01:05:48
of the Australian the New Zealand the Canadian the UK right so all the sort of major Western economies that had a baby
01:05:55
boom 50% of the economy is owned by people aged 61 to 79 um so those people
01:06:01
are going through a big life change they're transforming the way they live and work they want to get rid of their
01:06:07
businesses they want to move into advisory roles they want to travel they want to have uh different relationships
01:06:12
they want to have different priorities um so I would definitely be thinking about how do I work with that group of
01:06:19
people I'm either going to buy their business and take it over um which would be an opportunity I'm going to build a
01:06:24
business that disrupts the current way that they're doing business um or I'm going to sell to that market cuz they're cashed up they got loads of time loads
01:06:30
of money um and every business could think about how it's going to sell to a baby boomer Market because that's
01:06:37
50% um so a good example might be of a baby baby boomer business what's a good
01:06:45
baby boomer business everything the whole econom is made up of B like if we went out on the street here yeah um the
01:06:51
person down the road who's fixing who's doing theot on the cars is a baby Bo business the guy who Services the
01:06:57
elevators that come up and down here that's Baby Boom the air conditioning unit business is baby boomer business um
01:07:03
you know the Kier company that kind of dropped everything off as a baby boomer business um you know the whole damn
01:07:09
shooting match is like mostly like 50 like half the businesses and especially by revenue and valuation it's all baby
01:07:16
boomers or half Baby Boomers at least and there may be a sort of a digital Arbitrage opportunity that there's been
01:07:23
created with the Trans transfer of um um with the rise of digital that they might have missed that you could seize upon it
01:07:30
massively well one of the things is that every single business in the world is going to be disrupted by AI um and
01:07:37
you've got to be the company that um uses AI when they're not uh and and
01:07:42
using AI like being disrupted by AI just means that every employee is way more effective because they're using AI so
01:07:48
one of the simple things to disrupt a business with AI is to run a training workshop with all the people in the
01:07:54
company about how they could use AI in their role um and you could watch some videos online and you could uh play with
01:08:00
chat gbt uh recently we uh introduced an AI system to one of uh our businesses we
01:08:07
have 250 video case studies of clients who are happy customers and they've recorded a video for us and they're
01:08:13
amazing video case studies but there's too many of them there's so many video case studies so we created an AI bot
01:08:19
that reads and understands all of those video case studies and then for my sales
01:08:24
team when they''re talking to a customer they're just typing uh of they're typing
01:08:30
in the type of scenario that that person's going through and the bot is then suggesting oh this is the video
01:08:36
case study this is the customer this is what they said same industry as you same problem same Challenge and then they
01:08:43
here's the link to the video case study M so our sales team can be super effective at sending you through the
01:08:48
exact video case study that's relevant to you MH because the AI bot has read and understood every single one of our
01:08:54
video case studies studies uh so that's an example you know there's been so many of these technological revolutions over
01:09:01
the last 50 odd years that I looked back on and thought oh gosh I wish I was
01:09:06
there at the.com boom I would have become a billionaire I would have had all you know a variety of different ideas do you think AI is that now do you
01:09:13
think we're living through we're early it's so early right it's it's the moment I I remember when Steve Jobs launched
01:09:21
the App Store and that was 2007 20072 2008 it was 2 years later that Instagram was
01:09:28
launched it was 2 years later that Uber was launched and then there was a March of hundreds of different businesses and
01:09:34
now applications are you know everywhere the the bigger example would be
01:09:40
electricity so it was the 1830s where we generated electricity but it wasn't
01:09:46
until the 1930s that we filled our houses full of things that ran on electricity so it was a 100-year
01:09:52
transition um now with AI where at the early stage of generating AI but we're
01:09:59
not yet into the stage of creating everything that runs on AI so think about uh a power station versus a
01:10:06
toaster so the power station's been invented but there's thousands and thousands and thousands of toasters that
01:10:12
can be invented toasters kettles vacuum cleaners things that run on electricity so AI like electricity but we haven't
01:10:19
built all the businesses that are going to plug in and are going to be great opportunities and that's going to be
01:10:24
over the next 10 15 years every single industry you can't name an industry that's not going to be impacted by this
01:10:30
every industry is going to have applications that run on AI there's going to be new teams do you know what
01:10:36
happened just a couple of weeks ago uh Nvidia launched a supercomputer for
01:10:41
$3,000 now this is going to be the fundamental basis for 10 people companies that do a
01:10:48
billion of Revenue this is going to be entrepreneurs who who like crunch some data figure out a little application
01:10:55
because of that kind of compute power they're going to come up with something and it's going to be a billion dollar business with 10 people working on the
01:11:00
team there's going to be a little healthc care unit that figures out how to Crunch data and solve a like a really
01:11:06
complex health problem and they'll figure out how to do it that supercomputer for three grand supersedes
01:11:12
what people used to be spending 3 to 6 to n Grand a month on um so previously
01:11:18
you would have had to subscribe to that level of compute and you would have been spending you know $50,000 a year just
01:11:24
for the cloud subscription to that sort of thing now one payment of $3,000 you can be anywhere in the world crunching
01:11:31
any amounts of phenomenal data so just that one thing that one Innovation is
01:11:36
going to totally transform Industries I would imagine that I'm going to guess
01:11:43
90 95% of people that are listening right now don't know a lot about AI they
01:11:48
also don't really know a lot about technology to the extent that many other people do the 5% do for those people who
01:11:55
are you know it could be the taxi driver it could be the the janitor it could be a student in University studying
01:12:01
philosophy or something what advice would you give them if you were the puppet master of their life now and you
01:12:08
had to get them close to this opportunity what are this the sort of steps you take towards being able to
01:12:13
capitalize on something like nvidia's supercomputer yes so of course it's a pyramid so the schooling system taught
01:12:19
you that you the way to be successful was to turn labor into skilled labor so become skilled labor your time and your
01:12:26
skills are what's valuable and that was the Industrial Revolution model for everybody we all went through that system and we said that's where the
01:12:32
journey ends in fact if you want you can go to university become really skilled labor you can get a masters and become
01:12:37
really skilled labor PhD become super skilled labor and the whole goal is sell your time for more money and then
01:12:43
sitting on top of that is this new universe and the new universe is this digital economy and the first step above
01:12:48
it is called intellectual property intellectual property is where rather than learning more stuff you reflect and
01:12:55
create some stuff so you say oh over the last 5 years I did something special with that client um and we got a great
01:13:03
result and I can explain it step by step I'm going to document that I'm going to turn that into a story and I'm going to
01:13:08
record a video about it and I'm going to have a little poster with a wheel that explains how we did that and then I'm
01:13:13
just going to let people know about that so now we're in the business of intellectual property intellectual
01:13:18
property is anything written anything on video Anything Audio right so intellectual property couples up with
01:13:24
media so IP and media are the next level above skilled labor so the first step
01:13:29
get out of skilled labor model and get into intellectual property in media and
01:13:34
just making that step opens you up to this whole other world of opportunities uh if you you you must know the book
01:13:41
Seven Habits of Highly Effective People Steven kovi he passed away 10 years ago he was not some special guy he was a
01:13:49
church leader in Utah he did some Consulting with small businesses and he did some Consulting with church
01:13:55
but he just reflected on what he' seen and he reflected on a few studies that he' come across and he wrote this book
01:14:02
Seven Habits of Highly Effective People so he went from skilled labor Consulting
01:14:07
to intellectual property and media which was his written word plus his book publishing so that's step one and mind
01:14:14
you he sold 20 million copies and he built a $400 million consulting company but it was based on IP not his labor so
01:14:21
that's step one sitting above that is data and um uh intellectual property
01:14:26
media and data and software so once we have IP and media now we want data and
01:14:32
software so data is where we build a database we get email addresses we get
01:14:38
information about customers we know more about markets we get people filling in forms we get people filling in
01:14:44
scorecards we start conducting surveys so we're capturing data that's unique to
01:14:49
us and then software is the ability to turn our intellectual property into an engine that just automatically delivers
01:14:56
a a result and in that software bucket is the ability to create AI applications
01:15:03
um so you're going to have to move your way up that pyramid and then the final little top of the pyramid is um the
01:15:09
ability to create Financial assets Financial assets is where you sell your business for an amount of money so you
01:15:14
actually package all of that into a business that can be sold and that business becomes a financial asset the
01:15:20
shares become a financial asset and then you make a lot of money by selling a company so you can't jump straight from
01:15:26
being labor or skilled labor straight up to software and data uh and those sorts of things which is the AI Advanced AI
01:15:33
stuff so you got to go through uh intellectual property media data
01:15:38
software and what you do with your money so everyone has a different sort of Finance strategy or an investment
01:15:44
strategy what's your investment strategy uh I've said to you before that
01:15:50
I like I really trust the advice that you can't outperform markets Market
01:15:55
everything's already priced into markets so for me personally like I put money into S&P 500 I put you know basically
01:16:03
things that you'd call a store of wealth um I don't think that's particularly exciting I I'm not you know some
01:16:11
sometimes I see people talking about like oh what should someone do if they're earning 50 Grand a year to invest honestly it's not going to do
01:16:18
anything like you you you just like obviously do it but I I believe it's far
01:16:24
better to take that money and invest it into your key relationships um I think it's better to take that money and put
01:16:30
it into a startup uh like actually you know buy yourself some time so you can you know move in what would move into
01:16:36
this new economy um the thing that excites me most is just creating really
01:16:43
valuable businesses um I have a group of companies now um
01:16:49
and let me explain uh here here's an idea the the economy doesn't want you to
01:16:54
become Rich right doesn't want you to accumulate money right the whole economy is set up so that you can't get money um
01:16:59
or you can't keep it um and what people think you do to make money is that they
01:17:05
think that you take a little piece out of the economy and squirrel it away and store it up and that's not actually how
01:17:11
people become rich what they do is they create something from their mind and they formalize it into a company and
01:17:18
then they get people to invest in that company and that creates new wealth in the economy that didn't exist never
01:17:23
existed it was a figment of their imagination and that new wealth we call that Innovation and
01:17:28
Entrepreneurship and what happens and I'll give you a real life example so uh
01:17:34
bookmagic is one of my uh software startups we raised £400,000 for 10%
01:17:40
which means £ 3.6 million pound worth of value is new value that never existed it's just added to the economy it's this
01:17:46
new economic asset called shares in this company 10% of the shares were 400,000 3.6 million is the other 90% that
01:17:54
doesn't actually exist exist it was just a figment of the imagination so it's it's called Innovation and
01:17:59
Entrepreneurship very slowly that becomes more and more real and then bigger companies come in and acquire
01:18:05
that or people acquire those shares and then it becomes a liquidity event you get capital and then you reinvest that
01:18:11
Capital into creating new things in the economy so the way rich people become rich is not by squirreling little bits
01:18:18
out of the existing economy it's by creating something new that never existed and slowly introducing that into
01:18:24
the economy right so it's it's building things that didn't H exist so when I
01:18:29
hear people trying to you know get this tiny little bit out of the economy and then they've got to pay taxes on it and
01:18:35
then you know the UK government wants half of everything and it's it's horrific you never like you will just be
01:18:40
on this treadmill you'll never get out of it but if you can create something and you can have Innovation and
01:18:46
Entrepreneurship you can build something that's worth 5 million 10 million 20 million from your mind from your brain
01:18:53
um and then you introduce it and formalize it and it goes into the economy and it's actually a new asset in the economy and what is the horror that
01:19:00
we need to warn people about if they decide to do what you just said because everything in life has a cost so getting
01:19:06
starting a$2 million company comes with I meet so many Founders I had one in the office yesterday um great founder from
01:19:12
the UK young young lady she's done exceptionally exceptionally well she built a company that I think is going to make 35 million and um she's going
01:19:19
through a horrific time and came out of her brain yeah the
01:19:25
biggest horror is that we were never trained for this right so all of society is built for the Industrial Revolution
01:19:31
system and it's not built for the um digital Revolution system so you know we
01:19:38
were told don't be disruptive and yet the disruptors are making all the money we were told you know you can't ask
01:19:45
someone uh to do your homework for you yet the people who make all the money get someone else to do all their homework for them uh we were told um you
01:19:53
know uh you know don't be an attention seeker but attention Seekers make all the money
01:19:59
so there's all of this stuff that we were taught about becoming standardized component labor and that that mindset is
01:20:07
always fighting you when you're running a business because over here running a new business it's exciting it's
01:20:13
exhilarating it's creative but it feels wrong feels like you're doing something like weird because you're outside of the
01:20:19
system um so there's no blueprint there's no clear blueprint that anybody trained you for yeah you didn't
01:20:25
certainly didn't do schooling in fact schooling system taught you everything wrong it's the opposite they wanted you
01:20:30
to become standardized component labor and over here you have to be unique intellectual
01:20:35
property you're also dealing with platforms that are brand new yeah and and a also just like a social
01:20:41
environment that is brand new and I say that because obviously post pandemic the rules of work changed completely and the
01:20:46
zoom and Technology went from geography to Ideal customer personas in communities um so all of our entire
01:20:52
economy in fact if you think about our governments our governments are struggling because they Define themselves by geography but the digital
01:20:59
world's not defined by geography so when the government of the UK says we're putting up the taxes all the millionaires go okay we'll
01:21:06
leave and then they're like oh no I mean Norway did this as well right all these multi-billionaires just packed up and
01:21:12
left oh we're introducing a wealth text okay bye you you've commented a lot on this over the last couple of months what
01:21:18
is your position on this cuz there's been a lot there's lots going on geopolitically the UK changed the tax
01:21:23
system us got Trump coming in and I he'll be in by the time this podcast is out probably but well my position is
01:21:29
that we should collect the most amount of taxes that we can but the way to do that is with low taxes not high taxes
01:21:35
because in a world where people can freely move around you need to be an attractive place for people to come to
01:21:41
um you know people say oh we you know we don't like rich people well actually rich people pay a lot of taxes 1% pay
01:21:48
30% uh so you need if you wanted to double the tax base get a few more of
01:21:53
this 1% people to to come here the UK was thriving when we used to have uh a
01:21:59
$10 million seis or sorry a 10 million entrepreneurs 10 million pound entrepreneurs relief um you know made
01:22:06
the UK one of the best places to do business so just for people that have never experienced entrepreneurs relief
01:22:12
can you explain exactly what that who that impacts and when yeah so essentially entrepreneurs relief acknowledged that entrepreneurs are
01:22:19
taking a huge gamble in what they do they're pouring time effort energy and resources into their business in an
01:22:25
unpaid capacity and that when they finally get a success if they get a success then one of the ways of of
01:22:32
acknowledging that risk and making that a good decision is that you only pay 10% tax on the first uh well it used to be
01:22:40
10 million um of exit value um and uh
01:22:45
now it's on the first 1 million of uh exit value so essentially if you're paying roughly the
01:22:52
same as income tax on starting aany company then for a lot of people they're just not going to start a company right
01:22:59
they're not going to take the risk they're not going to innovate um and then the investment also slows down if people can earn more money by just
01:23:05
sitting on their capital and sticking it into a property they're not going to invest in startups so you have to have
01:23:11
if you want an economy that's based on actual Innovation and change and transformation and Ai and software and
01:23:16
data and the new economy you have to incentivize investors to to to do that
01:23:22
um it's also a globally competitive landscape so as soon as you've got you know Dubai saying hey we don't even do
01:23:28
income tax right and also when you go to Dubai tax feels like such a scam because
01:23:34
you go wait a second their police force their hospitals work everything's clean they've got no potholes their buildings
01:23:39
are amazing no crime no crime uh the transport's working like the whole place
01:23:45
is working like clockwork you go but how are they doing this without collecting 45% of the economy is tax in the UK
01:23:52
45% of the entire economy is government spending are people leaving the UK 10,000 millionaires left last year so
01:23:58
when I think about all the really exceptional people that I hired over the last 10 15 years every single one of the
01:24:03
the truly exceptional ones that I go I'd bet a lot on that person they all live in Dubai MH they've all gone some of
01:24:09
them have moved to America some of them are working in SF even America which is high tax but you start paying the
01:24:15
highest rate of tax at eight times the average wage here you pay the highest rate of tax at three times the average
01:24:21
wage yeah so they they're not letting any get ahead now the other day uh K
01:24:27
stama says we want to be leaders in AI well unfortunately we have the most expensive electricity so you can't run
01:24:33
data centers here uh and we also have the highest tax rates so highly skilled highly talented people do not want to be
01:24:40
here and I hate to say it everyone's like oh you know we need to tax the rich sorry they can leave they they really
01:24:45
can and in this digital economy with a personal brand with data with software with media assets those assets pick up
01:24:52
on a phone like you literally leave with your phone and you're fine I saw this narrative playing out over the last year
01:24:58
and I'm a skeptic I'm also like politically apolitical yeah same I'm so I don't have a team I look at these
01:25:05
narratives playing out and I try and figure out if it's a certain person has an agenda they're trying to push a narrative because they're rich and they
01:25:10
want the tax lower or if another person on the other side has an agenda because they want to tax the rich more and where
01:25:16
I ended up Landing purely based on what I saw in my life with um rich people
01:25:21
around me and the decisions they started to make is a lot of the most successful people that if I was kired armor I'd
01:25:27
want to keep in this country especially the ones that don't have the mortgage yet and the family they are off they're
01:25:33
off they are they are going and then the stats came out which I think recently said that about 10,000 we've had like an
01:25:38
exodus of these people and I know I know it's triggering for some people because they hate rich people and they
01:25:44
they just think that rich people should just um but if you are truly I think in
01:25:49
the middle you do come to understand to some degree that the backbone of our economy is entrepreneurship small
01:25:56
businesses with AI and Technology becoming an even greater part of our economy there's a certain type of
01:26:01
entrepreneur that's likely to build and succeed in AI that we really need to keep and they we are competing
01:26:06
geographically with San Francisco Dubai Abu Dhabi we absolutely are the other reason the other thing people think that
01:26:13
rich people are taking money out of the economy and the opposite is happening they're creating wealth that pumps into
01:26:18
the economy and they're creating it from figments of their imagination they're building things that didn't exist that
01:26:23
come into the econ as New Wealth if we were living now mind you that's not all millionaires some millionaires are
01:26:29
horrible landlords who make their money by bullying people uh if you live in certain locations the only millionaires
01:26:36
you've met are probably uh slum landlords or something like that that's not who we're talking about we're not
01:26:41
talking about people who are rent Seekers or people who you know kind of bully people around or any of that sort
01:26:46
of stuff we're talking about wealth creators uh people who are coming up with new intellectual property and
01:26:51
bringing it into the economy to create jobs and wealth and Investments and they make the world go around one of the
01:26:57
reasons we have wealth inequality is not what's being talked about wealth inequality is because of technology and
01:27:03
Technology adoption so I want you to imagine that we've got two people who are racing each other in a marathon one
01:27:09
person is running and one person's on a bicycle so they've got technology that they're leveraging the person on the
01:27:15
bicycle is going to be powering ahead effortlessly and it's going to look like
01:27:20
a very unfair thing and you say well this person works just as hard as this person why are they getting ahead a lot faster cuz this one on the cycle is
01:27:28
leveraging technology and this person is not leveraging technology when we go through these great shifts we actually
01:27:34
get people who are stuck in the old system and people who are in the new system Charles Dickens wrote about this
01:27:39
in the early Industrial Revolution there were all of these kids that were on the street right all of a Twist and there
01:27:46
was this huge wealth inequality as some people were industrialists and some people were still in the feudal system
01:27:52
and the agricultural age some people's income was linked to capitalism some people's link income was linked to
01:27:58
feudalism um so in the same way that that was happening then we're going to see a very similar Dickens I mean he had
01:28:05
that famous book called The Tale of Two Cities it was the best of times it was the worst of times was the opening line we're going to have the same thing now
01:28:12
it was the best of times it was the worst of times because we're going to have some people who are leveraging
01:28:18
technology uh and they live a life of fun Freedom fulfillment financial success and with some people who are
01:28:24
stuck in the Industrial Age who sit there and say I work as hard as I possibly can and I cannot get ahead I'm
01:28:29
falling behind year after year after year and it's because we have two systems operating in parallel okay so
01:28:35
the people that would counter you now at when you talk about you know the idea that these individuals that are leaving
01:28:40
our wealth creators um what is the Counterpoint that is that
01:28:46
is you know does make sense there are some rich people I know that are
01:28:51
hoarding a lot of stuff I mean they are they're also they do create opportunities for the economy but they
01:28:57
are they're in a hoarding season of life just kind of stacking it up they're not really giving it to many people and
01:29:03
they're playing certain money games just to build wealth and not necessarily creating huge economic value um so what we need is nuance and
01:29:11
we need the Nuance to understand that there are poor people who are who are um rent Seekers who are not productive who
01:29:19
are takers from the economy there are rich people who are takers from the economy and there are rich people who
01:29:25
are phenomenal wealth creators who create opportunities around them there are poor people who are phenomenally valuable to the economy so if we were to
01:29:32
just simply uh make no distinction by just simply the level of wealth or income it doesn't distinguish between
01:29:39
let's say a nurse who's on 30,000 and someone who's a drug dealer on 30,000 they're not they might be economically
01:29:45
the same they're not the same types of people in the economy so um what we need
01:29:50
to do is have some nuance and understand what is the behaviors that we want to incentivize what is the behaviors that we want to uh avoid we want to make it
01:29:58
hard to Simply stick all of your money in expensive assets and then rent them out uh we want to tax that uh and we
01:30:06
want to make it easy to invest in new economy we want to want to make it easy to bring down the prices of things we
01:30:11
want to make it easy to we want to make it easy for wealthy people to invest into startups uh we want to make it easy
01:30:17
for people to relocate here um and uh you know it's an attractive opportunity to BU to build a business here and
01:30:23
create jobs here we've just stuck a 15% tax on top of employing people so a lot
01:30:28
of entrepreneurs have responded by Outsourcing to remote workers um I know
01:30:34
plenty of companies that are now hiring people in the Philippines and South Africa because it's 15 but straight off
01:30:39
the back all things being equal it's 15% cheaper to hire someone overseas than here you know so the government is
01:30:45
making the wrong moves they're just doing the wrong thing they're making it expensive to hire people here they're
01:30:51
making expensive for talented people to live here and be here um so the economy is going to suffer until they get their
01:30:57
head around the fact that we're a globally competitive economy we have to be globally competitive that we live in
01:31:03
a digital world it's just going to get worse and worse is this in part because the way that the political system is set
01:31:08
up is that the prime minister or the president has four years so actually they're quite short term because I'm thinking of K D he's he's saying that he
01:31:16
walked into this deficit and now he it's looks like he scrambling around for the money and the long-term play here would
01:31:22
be we need to change the schooling system so that in 15 years time we've got a lot of AI um knowledge based in
01:31:29
our economy it's not that it's just that in the Industrial Age we created institutions that were appropriate for
01:31:35
the Industrial Age and now they've run to the end and now they're just outdated uh look at the name the UK government
01:31:43
that means it's a geographical border the London city council means it's a M25
01:31:48
right uh is is the geography the the British you know uh the the UK economy
01:31:54
uh so anything that is defined by geography already misses the point straight off the bat it misses the point
01:32:00
and the point is that we live in a a world where you can sell to anyone in the world you can uh hire anyone in the
01:32:06
world you can pay anyone in the world uh you can build a brand effortlessly from your phone you can live and work from
01:32:13
anywhere you can create companies super easily like all of those things like the
01:32:19
fundamental technology has shifted so it's like saying oh how do we change the
01:32:25
Juke and Lord system and the surf serfdom system it's like well that was for the agricultural age that was the
01:32:31
system that evolved we're going to need a completely different system because we now have an industrialized economy so
01:32:39
unfortunately we're going into a digital uh world or we're in a digital world and
01:32:45
the entire government is set up for the industrial economy national identity was a massive thing in the Industrial Age
01:32:50
National currency was a was a very big thing for the industrial age um do you think Trump's going to make good
01:32:57
decisions he's certainly going to be a disruptor he's going to be an accelerant whatever's happening um I think he's
01:33:02
going to break things that we're going to break and I think he's probably going to bring in some things that uh you know
01:33:07
emerge as as good things um I think we were definitely going in the wrong direction um you know we were becoming
01:33:14
you know governments of the world were becoming very authoritarian for a while there um you know they were really
01:33:19
policing uh different you know elements of our lives and spee and those sorts things and uh all of that's going to
01:33:27
definitely swing back the other way the pendulum is already swung back the other way if you saw the Mark Zuckerberg uh
01:33:32
announcement the other day are you bullish on America oh America is definitely the most bullish Place yeah
01:33:38
so so this is goes back to something I said earlier in terms of if I'm an entrepreneur and I want to position myself where the opportunity is where
01:33:44
the capital is where the mentality is yeah where is actually online so the the
01:33:49
the we is digital um you know you can go to Silicon Valley and you'll see some of the poorest people living next to some
01:33:55
of the richest people so it's not a geographical thing it's a mindset and the mindset is digital versus analog or
01:34:01
digital versus GE geographical so but the biggest economy the winner take all
01:34:07
is the US right because the US is in a very unique position they're energy independent they're food independent
01:34:13
they've got na massive natural geographical borders so they don't have to police their neighbors they don't
01:34:20
have they have one friendly neighbor at the North called Canada and one uh neighbor they can work with called
01:34:25
Mexico below contrast China I think they got 17 uh neighbors to manage so um the
01:34:33
US has got clear runways biggest economy in the world um most technology most
01:34:39
universities all of that sort of stuff we take our time when it comes to
01:34:44
hiring at flight story because I fundamentally believe the success of a business is directly linked to how good you are at hiring and better hiring
01:34:51
starts with smarter insights LinkedIn who's a sponsor of this podcast to some of the strongest hiring data available
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01:35:38
doac so is there anything else that would be on the list of things that if you were a you know a 21-year-old Daniel
01:35:44
Priestley and you're in 2025 what are the like fundamental moves
01:35:50
You' be making I can guess a couple of things You' definitely be making content yeah for sure you'd be climbing the
01:35:55
podcast pyramid to build more and more leverage and reputation Etc are there any other big big stuff so the big so
01:36:04
the key is the big opportunity is build a personal brand next to an elegant business model that is that's everything
01:36:10
if you build the personal brand it doesn't have to be a massive personal brand if you've got 5 to 50,000
01:36:15
followers within a high value Niche if you're seen as a key person of influence in a high value Niche that's enough of a
01:36:22
personal brand to make seven figures uh if you've got an elegant business model you can sell to anyone in the world uh
01:36:28
you can communicate your value to anyone in the world that's some of the stuff with an elegant business model so
01:36:35
essentially those are the two pillars if you're not financially successful or where you want to be at the moment you
01:36:40
want to look at building a personal brand and attaching that personal brand to the right business those are the two
01:36:47
steps so ultimately if you said if I was 21 I'm trying to build my personal brand
01:36:52
I'm trying to attach that brand to a per to a great business that's the key to Capital it's the key to Talent it's the
01:36:58
key to customers so it's that personal brand on a scalable business you look at every single person who's who's
01:37:05
succeeding right now they're focused on just those two things why don't people do that when you when they hear you say
01:37:11
all of that why is it that they then don't do it and those people agree so they're sat at home now they go yeah I
01:37:17
get it I the foundations you laid are perfect make sense and they still don't I'll tell you why years ago I went to
01:37:24
Barley and I saw this massive Mountain on the horizon and uh we decided that we
01:37:30
were going to book a a trip to climb it and uh it's called Mount uh Mount aong
01:37:36
so they wake us up at midnight and we get in a bus and we have to go to the mountain at midnight and climb through
01:37:42
the night right it was crazy and so from 1:00 in the morning all through the
01:37:47
night we got this tiny little headlamp on and we're climbing and we're scratching and we're like going up the side of the mountain
01:37:54
and finally we get up there about 6:00 a.m. and I'm like I didn't even realize why we were climbing through the night
01:37:59
like it hadn't even occurred to me why would we be doing it like this and then finally we get up the top and I realize
01:38:05
oh this is why we're doing it at 6: a.m. cuz the sun comes up at 6: a.m. so we get to the top of the mountain and the sun comes up and it's like glorious the
01:38:11
air is thin it's crisp it's just incredible and it's cold right which is rare in barley and then the sun lights
01:38:18
up barley and I can see all of barley and all of glimmering sea and it was just beautiful I'm standing there and
01:38:24
I'm just loving it taking it in and we put eggs in the uh hole and the volcano steam Cooks the eggs and then I look
01:38:32
onto the Horizon and there's this thing called Mount ranani I say to the guide what's that mountain over there he goes
01:38:37
oh that's Mount ranani I go oh is that on the island of b he goes no no that's on a different Island I go oh how do you
01:38:43
get there you got to catch a ferry how many days does it take oh you got to go for three days how long does it take to climb oh it takes about this much CL is
01:38:50
it higher or lower or blah blah blah how much is it can I book through through you and he says Mr Daniel you need to
01:38:57
appreciate the mountain you're standing on right now puts his arm around me you need to
01:39:03
learn to appreciate the mountain you're already standing on so when I was standing on that mountain I could see
01:39:08
everything but the mountain right I'm looking around the Horizon I'm seeing all this I'm seeing the mountain on the thing but I couldn't see the mountain
01:39:15
that I was already standing on because I was too close to it so the biggest thing that people Miss in today's world is
01:39:23
that they already standing on a mountain of value they've already got so much value but they're so distracted by the
01:39:28
mountain on the horizon they go oh Steven bartler he's already so much further ahead he's creating he creates
01:39:33
podcast I could never do that right or they go oh uh you know I saw this person who's really good in my industry and
01:39:39
they wrote a book and I could never write like that or you know you you know I don't know I've got anything of value
01:39:45
to share some people have floated a company for a billion dollars and I I'm only you know I've only just started right what am I going to share and what
01:39:52
they miss is that every single person your story is relevant your background
01:39:57
is relevant uh the people that you know is part of the Mountain of value you know the your relatability is part of
01:40:04
the Mountain of value you're losing your relatability because as you go so high people just starting out can't even
01:40:11
comprehend how to get there so someone in the middle is going to take a place that you previously occupied because
01:40:16
they're more relatable they're only two steps ahead not 20 steps ahead so every single person has this mountain of value
01:40:23
but the biggest thing at the moment is the distraction of all the other stuff and you're so close to your own mountain
01:40:29
of value you can't see it so the first thing I love to do is just put my arm around people and say please learn to
01:40:35
appreciate the mountain you're already standing on it's so true and um yeah so I was
01:40:41
just talking to someone before you came in about my my girlfriend she's a breath work practitioner her St she's got her
01:40:46
own Studio B breathwork do.com if anyone wants to go to her Retreats and she um hashtag ad I guess um and she we're
01:40:53
spending a lot of time talking about making Instagram videos again and in fact I think a year two years passes and she's talking about it and she's going
01:41:00
to buy she buys a camera and buys another camera and buys another camera Etc as we all do and um I realized that
01:41:05
eventually the reason why she wasn't starting is she was so I think a little bit too focused on
01:41:12
how it might perform that first video she dropped that she never dropped the video and I was reading um reading a
01:41:19
book over the Christmas break I think it was the courage to be disliked and it talks about the possibility Gap
01:41:25
something like the possibility Gap where it's the Gap when you say you announce your
01:41:31
intention and before you do it and you can live in this Gap because there's been no evidence to prove you can't yet
01:41:37
there's been no evidence to prove that you're actually not good at violin or you're not good at dejing so you can live in this gap for a long time it's
01:41:42
like the world of the realm of possibility you've announced it people are now giving you credit for it and there's been no evidence to prove you
01:41:48
can't do it and one of the things actually got her posting over Christmas was when I I said to her instead of like trying to make good videos let's make
01:41:54
the objective get to video 1,000 she's she's posted every day since she's posted 30 OD videos on her
01:42:01
Instagram since then changed the goal the minute she the goal became let's get to video 1,000 she was Off to the Races
01:42:08
the other thing that happens is in an exponential World in an exponential curve every double eclipses everything
01:42:15
that came before it and when you go through a doubling speed you're doubling and doubling and doubling each double is
01:42:21
worth everything before so imagine this we put one grain of rice on a chessboard then two then four then eight eight is
01:42:29
bigger than seven that came before then 16 which is bigger than 15 that came before that right and it goes like this
01:42:36
so every double eclipses everything that came before so in an exponential world
01:42:42
just those first thousand videos is it it you might only get you know 10,000
01:42:47
followers right it might be small but then you get a breakthrough and then in that breakthrough you get more than
01:42:53
10,000 followers from that breakthrough but it was all of that that led to that it's exactly what happened to me almost
01:42:58
to the number and to me the really important part there for me as well is just to to go for 10 years at anything
01:43:04
you are going to need to really love the thing and so as much as we talk about strategies and tactics and weight L and all these things the overarching
01:43:11
thing of how do we get to consistency so we can start to compound is a consequence of love and passion and and
01:43:17
repetition this is what we're talking about repetition how many times has a Dell song Set Fire to the Rain how many times Ed Sheeran done Castle on the hill
01:43:25
uh how many times have Metallica done Master of Puppets so like all of the greatest that you um that you admire
01:43:33
they all do repetition and it's perfect reps they do it over and over and over again no one's talking about this some
01:43:39
of the biggest most successful businesses WD40 WD40 was the 40th
01:43:45
attempt to create a spray that would um do that thing that WD40 does and then
01:43:50
for the last 50 years they've just been selling WD it's their one product and they just sell it in a small can or a
01:43:55
big can um Tobasco Source it's 150y old business and they just sell Tobasco but
01:44:01
every house in the world has Tabasco Source Fender Stratocaster guitars they figured it out in 1950s and they have
01:44:07
made that same guitar ever since Porsche 9911 they've barely changed it but Porsche 911 is the most successful
01:44:13
sports car because they just get good at doing Porsche 911s um you know I love
01:44:18
Swiss Army knives Rolex Watchers they are all businesses where they figure out what to to do and then they just fall in
01:44:24
love with the repetitions they just do it and do it and do it and do it and you've done 400 episodes of the show I
01:44:29
think um you know and the first 100 is that true uh 421 421 so you've done 421
01:44:37
episodes of the show I would almost uh guess that the last 21 probably eclipse
01:44:42
the first 100 um to say the least to say the least Right In fact when I was on
01:44:48
the show uh last time you just crossed 5 million subscribers I think you're coming up on 10 million yeah we did um
01:44:55
500,000 in December so this is called doubling speed yeah manal you doubling
01:45:00
and doubling and doubling what will blow your mind is that you'll go from 10 million to 20 million in the year ahead
01:45:06
um so it feels because that's exponential growth what what if you continue to do the Reps you will cross
01:45:13
10 million and in the same speed that you went from 5 to 10 you'll go from 10 to 20 uh you'll have 20 million
01:45:20
subscribers to the channel uh if if you know if you continue to do the rep so when we crank the handle we go through
01:45:27
doubling speeds and you want to figure out what is the activity that leads to
01:45:32
exponential growth and just do it do it again and fall in love with doing it it's really that simple in many well if
01:45:39
you're playing the right game it is I analyzed your episodes by the way of your last 117 episodes what percentage
01:45:47
what offers I'm going to say it's a high
01:45:52
percentage it's very high 78% okay 91 out of 117 are authors they've all
01:45:59
written books uh what's interesting is the ones who haven't written books are typically like Superstars and like mega
01:46:06
mega stars in some other thing but almost all of your guests have written at least one book but 78% of your guests
01:46:13
have written a book writing a book is a good idea it is a good idea and it's a good idea for the unobvious reasons that
01:46:19
most people don't think it's not necessarily to sell books cuz you know I've got a book that's sold pretty well but I I don't think it's going to I
01:46:25
don't necessarily think it's made much money no it's it's relationships on steroids it is the ability to have a
01:46:31
relation it's a parasocial relationship it's the ability to have a relationship with an anonymous person on the other side of the planet where they clock up 7
01:46:38
hours with you in your literally what was once inside your head word for word
01:46:44
is now inside their head word for word so you actually connect at a very deep level with people at scale so authors
01:46:51
becoming an author one thing that I recommend to all the listeners is have a goal to become an author even if you
01:46:58
haven't done anything yet you well you can document your journey you can
01:47:03
discover that you are standing on a mountain of value a lot of people think they're not they've not done anything um I have had uh I've had people who' have
01:47:10
written really successful businesses About the Passion that they have and the vision that they have uh sorry really
01:47:16
successful books about the passion and vision that they have I have people who like I've got someone who was very
01:47:23
successful at selling as a small business selling a corporate contract and they wrote a book about how small
01:47:29
businesses can sell to corporates and that was based on maybe eight to 10 major contracts that they had won but
01:47:35
then they documented the process and now they have a whole business teaching small businesses to sell to corporates
01:47:42
so like if you've done one little thing that could actually be a massive business bigger than one of our guys
01:47:49
Howard Tinker he ran a successful restaurant and he had had a successful process for building his restaurant
01:47:55
regulars and people who you know locals who come back and back and he actually wrote a book uh it's an Australian term
01:48:01
but he says more bums on seats in America it would have to be more butts on seats but he wrote the book called more bums on seats gave it out to a
01:48:08
thousand restaurants and said here's how I built my restaurant and then ended up building a massive coaching and
01:48:14
Consulting business teaching restaurants how to do their sales and marketing um so he had one little
01:48:20
restaurant uh and then he turned it into a a big thing um Gabriella who I mentioned before she helped some couples
01:48:27
get pregnant through her fertility interventions and then she wrote a book called fertility breakthrough and now
01:48:33
she gives away 4,000 copies a year and her business is massive on that point of sales are there any Frameworks for sales
01:48:40
that you advise or give to entrepreneurs when they're trying to because on stage a lot of people ask me this they say
01:48:45
things like this I'm trying to sell to a customer or I'm trying to sell to the CEO of this company some idea that I
01:48:51
have to change the company or I'm trying to sell downwards as a leader yeah is there a framework for selling well you
01:48:56
want to productize your sales and what you want to do is productize the demo and the customer needs analysis and give
01:49:02
it a name so that it feels like a product and it doesn't feel like a sale it feels like a product so that you feel
01:49:09
that you're getting something of value by seeing the demo and doing the customer needs analysis that's one of the first things so break that down for
01:49:15
me so when you say the word demo so the demo is explaining the value of what you do so you want to craft a demo uh
01:49:22
crafting a demo is like uh you want to be able to do the features advantages benefits the research that backs it up
01:49:29
uh you want to be able to show some data you want to have an emotional story that tells people how this product works and
01:49:34
how it changed someone's life or how it delivered a valuable outcome so all of that's in the demo and the demo shows
01:49:42
how your product is the path of least resistance between the current reality the desired reality and the obstacles uh
01:49:49
that a ideal customer has so you take an ideal customer this is where they are this is where they want to be this is
01:49:54
what's stopping them look at our path of least resistance that we've created but it's not for everybody you have to do a
01:50:01
customer needs analysis so a survey or an assessment and then that tells you whether you need this product or not so
01:50:07
you want to producti that you want to give it a name and you want to give it a like a landing page and people can sign up to it um so they can experience the
01:50:15
presentation and and do the customer needs analysis I've got a picture here called uh the messy middle yeah the
01:50:22
Google Google report I've actually never seen this before this image yeah um can you explain to me I'll put it on the
01:50:29
screen and Link it below for anyone that wants to look at it I highly recommend you do what this image is yeah so we
01:50:36
used to think of marketing as marketing funnels and marketing funnels essentially we would push people through
01:50:42
a marketing process from awareness to uh consideration through to trust and
01:50:48
commitment and purchase so it was this marketing funnel and we're just kind of funneling them through
01:50:53
um and that's how we you know almost all marketers draw funnels yeah um and then Google did some research to see is this
01:51:00
actually true is this still how people buy and they found it's actually not how people buy at all anymore um so um top
01:51:08
of funnel middle of funnel and bottom of funnel has been replaced by a trigger a totally random journey through a
01:51:15
playground uh where we explore and evaluate randomly and then a trigger for
01:51:21
signaling intent and then uh purchase over here so what this might
01:51:26
look like is I might see an influencer uh talking about her you know handbag
01:51:33
and I go oh I'm interested in that brand I'll give them a follow yeah and then I ignore them um and then I discover that
01:51:40
they've actually put some videos on YouTube and I start watching a video on YouTube but then I go and do something else and then I see a review website and
01:51:48
um I go on the review website then I find out that that brand has actually created a waiting list for a new product
01:51:53
so I actually say oh I might drive drive the waiting list now I'm like ending up down here and then um I get on the
01:52:00
waiting list they tell me that uh they're only releasing 500 of that product would I like one yes I would so
01:52:06
then I uh basically go and purchase so it's no longer a funnel experience
01:52:12
because customers have figured out that they can disappear within 3 seconds if they want to right they can just jump
01:52:17
your fence and and the funnel feels dehumanizing for most people so they
01:52:22
don't like to be funneled they like to go on an adventure so rather than thinking about our marketing as a funnel
01:52:27
we want to think about it as an adventure or a playground so we're going to create things that people can interact with and play with um so they
01:52:35
could watch a uh watch a video they could listen to a podcast they could take an online assessment uh they could
01:52:42
um complete a customer needs analysis they could watch a demo they could uh get free access to a trial in a portal
01:52:49
um they could join a community they could join a discussion group right so these are all things that people can
01:52:54
engage with or play with and we want it to avoid feeling like a funnel we want to feel like it's um lots of value lots
01:53:02
of great experiences and then at the certain time there are moments to act if you want to buy something if you're in a
01:53:08
if you're the right person at the right time this is the moment to act so it's a bit of a different way of thinking about marketing but it acknowledges the fact
01:53:15
that we're living in a very different world where you know funnels worked when people were afraid of not seeing you
01:53:20
ever again or that they're afraid they would miss out but no one's afraid of that anymore the people that came to you
01:53:27
following your our last conversation and that me sent you messages and DMS what is the most frequently occurring
01:53:33
question that they asked you how do I start when I don't have a
01:53:39
brand um like a lot of people say I've got a big idea or I want to launch but I
01:53:44
don't have a brand yet I I'm I'm invisible um you know I feel invisible and that makes me feel stuck uh and
01:53:51
essentially they know what they're excited about they know what they're passionate about um I've got a big I've got a big new
01:53:58
product idea I've got a way of expanding into a new territory but I don't have the brand and is that where your 5ps
01:54:04
come in for becoming a key person of influence so the yeah so the 5ps is uh
01:54:09
we have to learn to pitch right the entrepreneur journey is a journey of a thousand pitchers uh one way or another
01:54:15
you're either going to pitch an average pitch and end up with nothing or you pitch a phenomenal pitch and end up with a 10 to100 million business um if you're
01:54:23
Elon Musk you'll end up pitching your way to Mars right but journey is the entrepreneur journey is all about
01:54:28
pitching so we've got to have a a great way of pitching the business so people are excited in person or digitally could
01:54:35
be video right I've seen Mark zukerberg do hundreds of pictures uh over the last 20 years for Facebook and new features
01:54:42
um uh Steve Jobs used to do it on stage um but then the video went out so you
01:54:48
can do it to video you can do it to camera you can do it on a podcast you can Do It um uh live you can do it Ono
01:54:55
one you can do it to groups but you have to learn how to be able to pitch an idea get people excited about something through your words entrepreneurs and
01:55:01
Founders they are the spokesperson for their business they have to be able to be good at pitching the second thing is
01:55:07
publishing content publishing videos publishing podcasts publishing a book publishing on LinkedIn right so it's
01:55:13
essentially taking the elements of a pitch but putting into different formats 7114 stuff mhm the third element is the
01:55:21
product ization the product ecosystem too many people sell time and skills they have to sell intellectual property
01:55:27
media data software or producti services or they have to have a scalable product
01:55:33
something that doesn't require their time and effort in order to sell it again and again um because your time and
01:55:38
effort as a Founder has to be on the demand side not the supply side so we got to producti uh raising profile uh is
01:55:45
the next one so having your social media platforms doing some Live Events um
01:55:51
winning some awards uh getting on traditional Media or third party platforms all of that is your
01:55:57
profile and then the next one once you've done all of that is doing your first joint ventures and Partnerships so
01:56:02
big business happens when you can find the right Partners uh so you might need a Capital Partner for investment or you
01:56:08
might need a distribution partner for sales you might need a um a a a product
01:56:13
partner someone who actually Partners to in incorporate something that they do into your product so packaging up
01:56:19
through Partnerships um so I always Focus people on pitching publishing product profile
01:56:25
Partnerships that's the role of the founder we call that the key person of influence role um personal brand feels
01:56:31
like this weird thing or it feels like branding or it feels like this kind of like um oh I've got to you know get up
01:56:38
every day and photograph my breakfast and you know all that sort of stuff but actually if we just focus on Pitch
01:56:43
published product profile partnership most people who are sensible people with successful businesses they say oh that
01:56:49
makes sense I like all of those things yeah personal branding has got a bit of a wrap isn't it bit of a um a bit of a
01:56:54
stigma the goal is not to be an influencer to be a key person of influence and there's a difference and I
01:57:00
think um there's different types of personal branding and the best most effective type of personal branding that I've seen is what I call idea promotion
01:57:07
where you're promoting your ideas to the world um maybe in a particular nure industry but it's all about here are my
01:57:14
ideas and you can do that as well obviously through books and through podcast appearances and stuff but there are other types of promotions so some
01:57:20
people do deficiency promotion here are all the ways that I'm flawed and they build a
01:57:25
brand around that well the the one people most object to is self-promotion self-promotion which is here's how great I am look at me this is my lifestyle
01:57:32
this is my car this is my abs yeah um here's my dinner here's my girlfriend my
01:57:38
boyfriend right so all of that sort of stuff is self-promotion that's narcissistic and that's that's
01:57:43
associated more with an influencer a key person of influence is operating within a high value Niche and they're idea
01:57:50
promoting they're saying here's the big insights that you need here's the data that you should pay attention to here's the problem as I see it and here's some
01:57:56
nuances around the problem here's the solution or outcome that's achievable and here's how you get to that outcome
01:58:01
so they're they're basically it's part thought leader but also part entrepreneur um you don't need a huge
01:58:07
following for this influencers notoriously can't sell stuff they many
01:58:13
influencers have a million followers and it turns out they can't sell hoodies uh you know very very difficult to get
01:58:20
anything sold people look at them as as entertainers but they don't really look at them as thought leaders or you know
01:58:26
someone who's directing serious spend a key person of influence might have 5,000 or 10,000 followers but when they say
01:58:34
this is the thing to buy everyone buys it um you know so that's what we're we're going for that and can anyone do
01:58:40
that anyone can start I mean I've I've been working on this for 15 years with 5 and a half thousand companies we've got
01:58:46
single moms with children who have special needs who have gone from struggling to multi-million businesses
01:58:54
we've got um people who had been stuck at five people for 10 years and then
01:58:59
they go to 50 people um you know we've got people in 50 different industries from Real Estate to Dentistry to
01:59:06
medicine to IT services so like the world the world is open at the moment
01:59:11
every single industry has a thousand different micro niches every Micro Niche needs a key person of influence or two
01:59:18
every Micron Niche can have a book um when we were stuck in geography there was no point to doing
01:59:24
all of this cuz you only had a 5 mile radius or 10 m radius anyway but now we can reach 1.5 billion English speakers
01:59:31
online we can reach 70% of the world on fast internet your tiny little Micro
01:59:37
Niche could be extremely valuable to 35 people on the planet who each happily
01:59:43
pay 100,000 a year you know so we live in this world where the microniches are
01:59:49
incredibly valuable every industry has a thousand micronas every Micron needs an
01:59:55
a key person of influence or two um there's absolutely no reason why and this is where the econom is headed so
02:00:01
there's no reason why a lot of people can't do this can everyone do it I don't know if everyone can do it but a lot of people can definitely do it so what do
02:00:07
you think is maybe the subject or question that I haven't asked at this point in the conversation that people
02:00:13
will be sad at home thinking there's one last thing that I think we should talk about if someone's feeling frustrated
02:00:19
stuck or overwhelmed there's the one thing that knocks out everything else
02:00:25
for cutting through problems or cutting through things that get in the way and that is this idea called uh environment
02:00:31
dictates performance environment dictates performance what that basically means is that we behave according to the
02:00:37
environments that we show up in so if you are in an environment where nobody's doing this stuff it's going to feel
02:00:43
impossible if you're in an environment where everybody's doing this stuff it's going to feel effortless if you're an environment
02:00:50
where everyone talks about money is evil you're never going to make any money if you're in an environment where everyone sees money is just a tool right you're
02:00:58
going to make a ton of money many years ago when I was in my early 20s uh someone suggested that I go to
02:01:04
dancing classes and I thought this is ridiculous why like I can't dance and I'll never be able to dance and dancing
02:01:10
is weird I went to a dance class and in that environment it was normal to learn dancing and within three lessons I was
02:01:17
dancing really well I enjoyed it I did three years of dance classes I got really good at it and it was one of my
02:01:22
favorite places to show up but nothing would have happened unless I made the commitment to get into a different environment so the final thing to talk
02:01:30
about is that if any of this feels really hard or really like difficult for me I feel effortless because I'm
02:01:35
surrounded by people who live this way every single one of my friends is scaling a business and a personal brand
02:01:41
um but if you're not in that environment it's going to feel really weird and foreign so the easiest thing people
02:01:48
could try just simply try the idea of changing environments immediately by
02:01:53
doing a few following things if you feel stuck find the highest place that you
02:01:58
can get to GE like physically the highest go to the top floor restaurant in your town go to a um a place that is
02:02:06
like an office that has a foyer that overlooks the whole city um do whatever you can to go high up and then see how
02:02:12
the problem feels when you're actually high up looking out to the Horizon just that change of environment will give you
02:02:18
new ideas um go and talk to someone who you haven't talked to in a while who's 2 three four steps ahead of you but meet
02:02:25
them in an opulent hotel right anyone can go sit in a hotel foyer of a fstar hotel go and meet for coffee in a
02:02:32
five-star hotel fo you with someone who's three or four steps ahead of you suddenly you're going to feel very very
02:02:37
different enroll yourself onto a course where everyone's learning the same thing that you're learning and that
02:02:43
environment means that it's normal like let's say you're afraid of public speaking enroll yourself in a public speaking course everyone's going through
02:02:50
the process of public speaking suddenly it feels like pretty normal enroll into an entrepreneur accelerator Everyone's
02:02:56
an entrepreneur in there suddenly it feels very normal to be scaling a business so environment dictates
02:03:01
performance is the big thing that changes everything pay attention to environment what I'd love people to do
02:03:07
that are listening now um on YouTube or wherever you might be listening I think YouTube is probably the best place to do
02:03:13
it is if you are one of those people that feels a little bit lost and you are I don't know you are working in a
02:03:20
restaurant at the moment and you're working evenings and you heard Daniel talk about Ai and all of these things and you just feel like it might be a bit
02:03:25
far away or you don't have the people around you that can um potentially help you with that let's start a little bit
02:03:31
of a community in the comment section so I think it would be really really cool if people detailed their situation
02:03:37
talked about where they want to get and if you just throw that out there in the comment section who you are where you are obviously keep your private details
02:03:43
to yourself but um as Anonymous as you're comfortable being or not being
02:03:49
throw the seed out there and you it will start conversation with somebody else I see it all the time in the comment section people start chatting they start
02:03:55
getting motivated and jump on a zoom call with that person yeah right or a a Microsoft uh meeting right or Google
02:04:02
meeting right see if you can just randomly meet up with someone who's aligned on values because they watch the same video yeah right anyone who's going
02:04:09
to comment this is watched all the way to the end yeah exactly right so have a little video call with them like jump on
02:04:15
a zoom call and just say hey let's discuss the episode what are you up to what are you doing what are you taking
02:04:20
away from that that's a that's a change of environment you're you're putting yourself around a new person and just so you know who these people are that also
02:04:27
got to the end of this and that are doing this if you could all start it with a waving Emoji then at least you
02:04:33
know that you're people that got to the end and saw this part and um if you could be friendly to those people and maybe um reach out to them talk to them
02:04:40
and safely right do your own process of verification to figure make sure that they're not uh crypto scammer or
02:04:46
something safely maybe connect with them on LinkedIn verify who they are and then form that relationship because there are
02:04:52
people in this audience that I know are searching for like-minded individuals and as you say by the very nature that
02:04:57
they got to the end of a three-hour conversation they are like-minded in some way super aligned you might discover you've got more in common with
02:05:03
someone on the other side of the planet than someone who's just down the road this year 55% of businesses globally are
02:05:10
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online we have a closing tradition on this podcast where the last guest leaves a question for the next without knowing who they're leaving it for where do you
02:07:03
draw the line between health or anything optimization and pleasure I
02:07:12
think optimization can lead to pleasure um one of the things that happened to me
02:07:17
uh personally is Christmas Eve uh just a few week weeks ago I got a phone call
02:07:23
from a GP who I'd never spoken to before in my life who had looked at my health results from my blood test and said um
02:07:30
Daniel I need to call you before something bad happens and I went what are you talking about he said well your
02:07:36
pancreas has an enzyme that's associated with bad things has anyone commented that you're turning yellow I went no uh
02:07:43
he said uh have you um lost Consciousness or been dizzy no have you
02:07:49
uh you know have you had to like all over if you had to have a sleep all afternoon something like this I'm like no none of that he said okay you're
02:07:56
you're really close to having a health problem the reason I'm calling you Christmas Eve is because Christmas Day if you drink alcohol if you eat too much
02:08:03
food you could end up in an ambulance with these levels that you're in I'm like this is so weird I've never known
02:08:08
this I just had a blood test to sort of see my markers and I got this result and for about a week I didn't
02:08:16
know whether I had some serious disease I didn't know any of this I went and got a CT scan suddenly find out that uh my
02:08:22
doctor said pristine I have a pristine pancreas in gallbladder and and liver and I had these elevated levels um but
02:08:29
it was associated with some other things it was associated with some changes to diet sleep exercise all of this but it
02:08:35
was like a a reprieve it was like a stay of execution it was it was a wonderful experience to go oh wow okay it's not
02:08:41
serious it's reversible that data has changed my life just that week it was the greatest gift I could have got for
02:08:47
Christmas because for a week I felt like what it must feel like to lose your health and to be told that your health
02:08:53
is in serious decline I had the I had the real experience of what it would feel like to to receive bad information
02:09:01
but then at the end of the week and I got the CT scan I had the real experience of like uh you know the Ghost
02:09:06
of Christmas right I it's okay Dan you it's not too late so suddenly I'm
02:09:12
optimizing I've got my whooop band and and I'm I'm getting a lot of pleasure like having the data is great data is a
02:09:18
great thing there's nothing that frees you more than having visibility of the data what was that Epiphany that you got
02:09:24
in that week like what is the for us that you know for people that don't want to have to go through that to realize
02:09:29
what you realized in that week it's an age-old epiphany but a healthy man has many goals a sick man has only
02:09:37
one right so when you think you've got your health you've got all of the possibilities ahead of you when you
02:09:43
think you've lost your health you're only focused on getting that back again um and You Don't Know What You've Got
02:09:48
Till It's Gone you don't like you don't know what until you hit that crisis point you just take it all for granted
02:09:55
um it was just one of those magical moments of going oh my goodness I have
02:10:00
this incredible body that's functioning like I need to take care of this this is my vehicle um so it was you know the
02:10:08
Epiphany was just I'm so focused on business and life and opportunities and
02:10:13
all this external stuff but actually there's great joy and great pleasure in taking care of yourself I think that's
02:10:19
so wonderful to hear and so refreshing um because it's the often the missing piece in the big picture of like success
02:10:26
and optimization is this um I I had it for many years this we take for granted
02:10:32
that all that we strive for and all that we've accomplished and all that we love and know is sitting on this tectonic plate that we don't even know is there
02:10:39
until it shakes until it shakes it's like I was in over in Cape Town there's an earthquake this um this year while I
02:10:45
was there and I'm sat at my house and then suddenly at 2: a.m. in the morning like underneath me starts shaking yeah
02:10:53
and I I oh my God I didn't realize I thought the house was the base actually the base is the tectonic plate and in
02:10:59
our lives that's our health as entrepreneurs we disregard it so flippantly in the pursuit of some kind
02:11:04
of Accolade until it shakes and then that becomes the only important thing
02:11:09
Daniel thank you so much it's an honor and pleas keep doing what you're doing it's amazing thank
02:11:16
you do you know that 80% of New Year's resolutions fail by February it's because we focus too much on the end
02:11:22
goal and we forget the small daily actions that actually move us forward those actions that are easy to do are
02:11:27
also easy not to do in life it's easy to save a dollar so it's also easy not to making one small Improvement each day
02:11:34
one tiny step in the right direction has a big difference over time and that is the 1% mindset which is why we created
02:11:41
the 1% diary a 90day journal designed to help you stay consistent and focus on the small wins and make real progress
02:11:48
over time it also gives you access to the 1% Comm Community a space where you can stay accountable motivated inspired
02:11:55
along with many others on the same Journey we launched the 1% diary in November and it sold out so now we're
02:12:00
doing a second drop join the wait list at theed diary.com and you'll be the first to know as soon as it's back in
02:12:06
stock I'll put the link below [Music]
02:12:21
oh
02:12:28
[Music]
