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The Money Making Expert: The 7,11,4 Hack That Turns $1 Into $10K Per Month! Daniel Priestley — Transcript

by The Diary Of A CEO · 27,048 words · 4,146 segments · language en · Watch on YouTube

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0:00In order to be successful, you need to
0:01know that people have a small number of
0:03slots in their brain for who they
0:05remember. So, you've got to get into
0:06people's head. And in order to do that,
0:08you need to know two things. The first
0:09one is 7-11-4, which we'll talk about.
0:12And the second thing is that your brain
0:13is extremely good at deleting messages.
0:15But there's five things that will not be
0:17deleted by the brain. And the last two
0:18are the ones that are most useful. So,
0:20the first one is six.
0:21I wish I knew this stuff at the start of
0:23my career. Daniel Priestley is the
0:24money-making expert and serial
0:26entrepreneur who's built several
0:27multi-million-dollar businesses from
0:29nothing and has mentored over 3,500
0:31businesses with the same frameworks for
0:33career success that you're about to
0:34learn. The problem that we have now is
0:36that we live in a digital world, but all
0:38of society is built for the industrial
0:39revolution system, which means that
0:41we're playing by an old set of rules and
0:42going through a schooling system that is
0:44preparing them for a world that no
0:45longer exists. So, people feel like that
0:47there are no opportunities, there are no
0:48safe jobs anymore, feeling like you're
0:50in competition with AI, and that leaves
0:52a whole generation of people feeling
0:54absolutely wiped out before they've even
0:55started.
0:56So, what are the new set of skills
0:57people need to know to set them up in
0:58this digital world? Well, there's
1:00actually a step-by-step approach to
1:01doing that, including building a
1:02personal brand. Okay, let's pause there.
1:04Why does that matter? Cuz that's the key
1:05to capital, talent, customers. And it's
1:08not about becoming an influencer with
1:09millions of followers. But if you're
1:11seen as a key person of influence,
1:12that's enough to make seven figures. And
1:14is that where your five P's come in?
1:16Yeah, and I'll take you through all of
1:17those. And then there's the
1:18entrepreneurial pyramid, which opens you
1:20up to this whole other world of
1:21opportunities as well as side hustles
1:23and the two types of opportunities that
1:25everyone needs to know about. I want to
1:27go through all of that.
1:28Let's do it.
1:32This has always blown my mind a little
1:33bit. 53% of you that listen to this show
1:36regularly haven't yet subscribed to this
1:38show. So, could I ask you for a favor
1:40before we start? If you like this show
1:41and you like what we do here and you
1:42want to support us, the free simple way
1:44that you can do just that is by hitting
1:45the subscribe button. And my commitment
1:47to you is if you do that, then I'll do
1:49everything in my power, me and my team,
1:51to make sure that this show is better
1:52for you every single week. We'll listen
1:54to your feedback, we'll find the guests
1:56that you want me to speak to, and we'll
1:58continue to do what we do. Thank you so
1:59much.
2:03Daniel Priestley.
2:05How'd you
2:07define and describe what it is that you
2:09do with your content, with your work, um
2:12and through all of these books that
2:13you've published? What is the summary of
2:15what you do and who you do it for?
2:17So, I have a massive passion for
2:19entrepreneurship. About 20 years ago, I
2:21started seeing a massive trend uh about
2:24entrepreneurs who could stand out, scale
2:26up, and make a positive impact in the
2:27world through business.
2:29Um I have built multiple businesses over
2:31the last 20 years, and I'm just uh
2:33fascinated by the predictable stages
2:35that people go through in order to build
2:37successful businesses. Um as I've been
2:40growing my businesses, I've been writing
2:41about it in my books, um mostly to
2:43document what I'm learning myself. Um
2:46and I also built a community of
2:47entrepreneurs who wanted to uh
2:49essentially make the most of the times
2:51that we're in.
2:52So, what's happening at the moment is
2:53we're going through massive amounts of
2:55change. It's very similar to the
2:56agricultural age, when it was replaced
2:59by the industrial age, and there were
3:00new economic rules that didn't apply to
3:03the agricultural age, but did apply to
3:05the industrial age. So, the agricultural
3:07age was the feudal system, and the
3:08industrial age was the capitalist
3:10system. What's happening is the
3:11industrial age is fast being replaced by
3:13the digital age.
3:15And as we go through this massive
3:16change, we're seeing new rules and new
3:19economic rules that apply. So, give an
3:21example. In the industrial age, people
3:24had to to become successful, people had
3:27to gain skills, and then get a job and
3:30find an employer who would uh employ
3:32them for those skills.
3:33As we go into the digital age, what
3:35works is to build a personal brand based
3:37on your unique intellectual property,
3:39and then to position that brand next to
3:41a scalable digital uh elegant business
3:44model. And those who are doing that, and
3:46those who have figured that out, are
3:47doing incredibly well and succeeding at
3:49speed. And there's actually a
3:51step-by-step approach for doing that. I
3:53want to go through all of that. I am I
3:54was running in Cape Town. Look at me
3:56plugging my running brand that's lasted
3:57for 5 days. Um I was running in Cape
4:00Town and a young couple came up to me at
4:02the end of my run when I'd stopped uh
4:03running at underneath this tree and they
4:06came to me it was about the 2nd or 3rd
4:08of January. They said um "Steve, we love
4:10your content. We've been listening to
4:11Diary of a CEO for a while." And they
4:12looked at each other and you could see
4:13that they were really stressed and they
4:14said, "We're just trying to figure out
4:16how to start a business and what we
4:18should be doing." And I could see in
4:19their face that they'd been mulling it
4:21for a long, long time. There was this
4:23like they're very, very young. I'd say
4:24they were like 21 years old and they
4:26were saying like, "What do we do?" And
4:28actually at that time I said, "You need
4:29to need to listen to an episode I did
4:30with Daniel Priestley." But I also knew
4:32you were coming on so I said, "And I'm
4:33recording with him shortly so make sure
4:34you listen to that." So through the lens
4:36of that 21-year-old, you've detailed
4:38that their world has now changed.
4:39They're living in this digital world.
4:42Where would you advise those two to
4:45start if they want to capitalize on the
4:47opportunity that's presented itself?
4:48Okay, so I'll slow down for a minute.
4:50What's happening at the moment is people
4:52in that situation they're feeling
4:54incredibly invisible um that they don't
4:57matter. They feel stuck that there are
5:00no opportunities. You can't buy a house,
5:02you can't get a career, uh there are no
5:04safe jobs anymore, um AI's disrupting
5:07everything um and they feel detached
5:09from meaning and purpose. And that
5:11leaves a whole generation of young
5:12people feeling absolutely wiped out
5:14before they've even started. It doesn't
5:17actually exclusively apply just to
5:18people in their 20s. I know people in
5:20their 40s, 50s, I know entrepreneurs who
5:22have traditional businesses who feel
5:24that way. So it's worth acknowledging
5:27that it's a widespread phenomenon.
5:29Everywhere in the world people feeling
5:30invisible, feeling the pain of like not
5:32being able to connect with the right
5:34people um and feeling stuck and feeling
5:36detached from meaning. So what we need
5:38to do is address that be- because what's
5:40happening is you're playing by an old
5:42set of rules and that's normal because
5:44the school system told you an old set of
5:46rules cuz it was based in the industrial
5:47age, and we have to start by learning
5:49the new set of rules.
5:51So, if I was advising 21-year-olds in
5:53particular,
5:54the first thing that you want to do is
5:55called an entrepreneur apprenticeship.
5:57Uh an entrepreneur apprenticeship is
5:59where you go and work in a small team of
6:02less than 12 people where you have
6:04direct contact with an entrepreneur, and
6:06in particular, you're looking for an
6:08entrepreneur who has somewhat of a
6:09personal brand. So, they have, let's
6:11say, 5,000 to 50,000 uh followers on
6:14social media. And they've got an elegant
6:16business model that inspires you. It
6:18doesn't necessarily have to be exactly
6:19what you want to do in the future, but
6:22you need to learn the new rules. So, you
6:23need to learn how is that person
6:25building their personal brand, and how
6:26are they building their business so that
6:28it can scale. How do they communicate
6:30with people anywhere in the world? How
6:32do they sell to people anywhere in the
6:33world? So, those are some of the key
6:34things that you have to do. You do not
6:36want to become an entrepreneur straight
6:37away. It's too big a shift. You need to
6:40be a number two. I was a number two. I
6:41had a mentor. I worked for an amazing
6:44guy for 2 years. Uh we went from zero to
6:466 million in a year, and from zero
6:48people to 60 people in 1 year. So, I got
6:51the entrepreneur apprenticeship first,
6:53and that's where you want to start. And
6:54then, once you do that, you can do side
6:56hustles, and then begin the
6:57entrepreneurial journey on your own.
7:00But how do you know if it's for you? How
7:01do you know if you're cut out for it?
7:03So, at the moment, what's happening is
7:05that the rules are changing so fast that
7:07you uh it's not like anyone's cut out
7:09for it, right? So, there is no sure
7:12feeling where you go, "Oh, I'm really
7:13cut out for this because it's giving me
7:15clear signals." During times of
7:16disruption, the signals get uh jammed.
7:19So, what's happening is people are going
7:22through a schooling system that is
7:24preparing them for a world that no
7:25longer exists.
7:26So, we go through 12 years of school,
7:28and it's saying, "Oh, you know, here's
7:30how you get ready for an employer."
7:31Well, there are no employers. And here's
7:32how you get ready for a career. There's
7:33no such thing as careers anymore. Um and
7:35here's how you get ready for a job. Oh,
7:37by the way, that job can easily be done
7:39by AI already. So, all of this is
7:41happening, and that means that people
7:43are feeling this void, and they're
7:44saying, "Well, I don't feel ready for
7:45anything." That's because you had 12
7:47years of training for a world that
7:48doesn't exist anymore. So, what we have
7:50to do is say,
7:52"All right, let's look at the world that
7:54is emerging, and let's position
7:56ourselves for that world, and reskill
7:58ourselves, and reposition ourselves for
7:59that world."
8:00When you were talking about that
8:01entrepreneurial apprenticeship, it
8:03sounded like a new form of education, a
8:06new form of university. Are there any
8:09other ways, if we're talking about that
8:10preparation phase, where you're getting
8:11ready, are there any other ways you
8:13would advise someone to rapidly excel
8:16their knowledge and skills in
8:18preparation to become an entrepreneur?
8:20Um is it books? Is it Do I sit on chat
8:23GPT? What worked for you? Books are
8:24great. YouTube channels are great. I
8:26didn't have any of that. Um you know,
8:28believe it or not, even books were hard
8:30to come by when I was a teenager. Um you
8:32know, you had to kind of order business
8:33books in, or you had to go to a big book
8:35store that had a business book section.
8:38Um we didn't have Amazon, and we
8:39certainly, you know, anything like a
8:40podcast, you actually paid for cassette
8:42tapes and CDs, and they were $1,000.
8:44They were really expensive just to
8:46listen to some business content. Believe
8:48it or not, that was a thing. Um
8:50and all of it's for free now, online.
8:53However,
8:54there's you can't learn to ride a bike
8:57uh through books and videos. You have to
8:59get on the bike. So, the best thing to
9:01do is to work for someone who's building
9:03a business, and if you can't do that,
9:05become a co-founder with someone who's
9:06got more experience than you. Um and if
9:09you can't do that, then you need to do
9:10some small side hustles. A side hustle
9:12is an open and shut business case. So,
9:14within 90 days, you're going to start
9:16something and finish something all
9:18within within 90 days. You're not going
9:19to get yourself into a long-term thing.
9:21You're just going to start something,
9:23see how it goes, and it ends in 90 days.
9:25When I was a teenager, I did nightclub
9:27parties. So, the nightclub party had a
9:30time where we would agree with the club
9:32that we were going to uh have the venue.
9:34Then we had a promotion phase, then we
9:36run the party, and then that was it. At
9:38the end of the night, we split the
9:39money, and that was the finish. And it
9:42all happened very quickly. And you get
9:44the learning experience, but you don't
9:46have the ongoing
9:48connection to the business. I also sold
9:50roses door-to-door. So, on Valentine's
9:53Day, I bought
9:54a few hundred roses, we dressed up in
9:56tuxedos, and we went door-to-door
9:57selling Valentine's Day roses. And that
10:00probably lasted 3 weeks from the time we
10:02came up with the idea to the time we
10:04found a supplier, bought the roses, went
10:06door-to-door,
10:07and made our sales, and then it was all
10:09finished at the end of Valentine's Day.
10:11So, these are called side hustles, and
10:12the important point is that they're not
10:14ongoing ventures. They're just open and
10:17shut, and then you can reflect, you can
10:18then sort of see what worked, what
10:20didn't work, and then see if you want to
10:21continue after that. Something else that
10:24I I don't think I've ever heard many
10:26entrepreneurs or founders talk about
10:28when they're giving advice on that
10:29preparation learning phase is the
10:31importance of writing.
10:34Yeah. It's not had a profound impact on
10:36me.
10:37Um my the rate in which I learned
10:40was having a practice.
10:42stage in your journey did you write? So,
10:44I made a commitment to myself when I was
10:4624 to write a tweet every day. Okay. And
10:51I would screenshot it and post on
10:52Instagram. Now, this was maybe the
10:55single biggest hack in my life that I've
10:57never really talked about because of the
10:59all of the downstream consequences that
11:01occurred.
11:02Downstream consequence number one, got 2
11:03million followers on Instagram by
11:05posting these quotes of ideas that I had
11:07every day. So, every day at 7:00 p.m. my
11:09girlfriend knew at the time she goes,
11:10he's going to go off for an hour and
11:11think of something to say.
11:12Um downstream consequence number two is
11:15it taught me how to communicate ideas in
11:17a concise high-impact way, and kind of
11:19what people respond to.
11:21And I'd say number three is it generally
11:23meant that if I went through my day and
11:25something had happened,
11:27it gave me a moment to condense that
11:29down into wisdom,
11:31a piece of truth. So, that day
11:34I learned something and
11:36um without that practice, those
11:38learnings kind of would have passed you
11:39by.
11:41So, what you're describing is actually
11:42beyond just writing, it's publishing. Um
11:45and publishing means to make public, to
11:47put something into the public domain.
11:48So, yeah, there's journaling which you
11:50keep private, but then there's making
11:52something public. Um and when you have
11:54when you do this, you have to think
11:55about how would this be a value to
11:57others? Um so, you're thinking, you
11:59know, entrepreneurs have to be thinking
12:00about how would this be a value to
12:02others. You're putting it into the
12:03public domain, so you're getting
12:04feedback as to whether this is a good
12:06idea or a bad idea or okay idea. Um so,
12:10yeah, uh publishing doesn't have to be
12:12tweeting, it doesn't have to be um
12:14writing a book. Publishing is video,
12:17audio. Um it can be long-form content,
12:19it can be short content. Uh you could do
12:21shorts, you could do tweets, right? All
12:24of that is publishing. The the essence
12:25of publishing is that you're taking your
12:27ideas and sharing it publicly, putting
12:29it in the public domain. That is a very
12:31rapid way to get started. Um interesting
12:35fact on this, that out of the billion
12:38people who use LinkedIn,
12:40only 3% are publishing regularly and
12:42less than 1% publish weekly. So, you
12:46think that you're in competition with a
12:47billion people on LinkedIn.
12:4999% of people are just there to kind of
12:51lurk and watch what other people are
12:52doing. Only 1% of people are competing.
12:551% of people are creating the content on
12:57that platform. Um when it comes to
12:59YouTube, there's 2.7 billion users of
13:02YouTube, but only 4% of people have a an
13:05account and only a fraction of those
13:07accounts are active. So, it's a tiny
13:09percentage of the world's population
13:11that are creating something. Most people
13:12are consuming. So, one thing that you're
13:15describing is the move from being a
13:17consumer to a creator. And entrepreneurs
13:19have to make that move.
13:21How have you
13:23accelerated your learning? Because
13:24you're someone that is able to
13:26give out lots of different ideas from
13:28lots of different reference points. And
13:29there must be some kind of underlying
13:30framework you're using to like learn,
13:32process, and publish, which now presents
13:35you, which is part of the reason you get
13:37invited onto the all these podcasts now,
13:38and people are paying you to speak at
13:40their events, etc. What was that
13:42framework for you?
13:43So, my background was I used to have an
13:46agency, and we used to run all these
13:47different events, and we used to have to
13:50put stuff onto people's seats when we
13:52were running events, and I had to kind
13:53of write stuff all the time like quick
13:55reports and all of that. So, I got in
13:56the habit of writing. I saw the power of
13:58writing.
13:59Um in 2009, the entire world tipped on
14:02its head um after the global financial
14:04crisis, and I was completely disrupted.
14:07Uh I went from
14:09millions of revenue down to a few
14:10hundred thousand of revenue. I lost 90%
14:12of my revenue in 1 year. Um it was mass-
14:14It was I remember one Christmas party,
14:1617, 18 people at a Christmas party, the
14:18following year was three. Um it was
14:20morbid.
14:22So, during that time where the global
14:24financial crisis had such a deep impact,
14:27I began writing about what is it that I
14:30know to be true? What is it that like I
14:32don't know much because I've just had
14:33the rug pulled out from under me. What
14:35is it I do know to be true? What are the
14:36most uh
14:38strong truths that I could share? And I
14:40ended up writing the book called Key
14:41Person of Influence in 2009, and it came
14:44out in 2010.
14:45And what I felt very confident about was
14:47this idea that the future was going to
14:51see a shift from business and
14:52institutional brands to personal brands.
14:54That we would see the decline of big
14:57faceless companies and the rise of uh
15:00individuals whose personal brands were
15:02bigger than the institutions. Um and it
15:05was pretty radical idea at the time, but
15:06I felt pretty confident about it. And
15:08the more I wrote about it, the more I
15:09felt this was where the world was
15:11heading. Um if we look today, we can see
15:13Brian Cox, Professor Brian Cox, has more
15:15followers than CERN. Um we can see
15:18Richard Branson has orders of magnitude
15:20more followers than Virgin. Uh we can
15:22see Elon's got more followers than NASA.
15:25Uh we can see, you know, Trump is way
15:27more powerful than the Republican Party.
15:30So, the the essentially the personal
15:32brand has just gone woosh ahead. Um but
15:36I was I I started that process very
15:38murky that I didn't quite know what it
15:40was. It was a feeling or a sense. And by
15:42the time I'd gone through the publishing
15:44process of writing, uh I was clear.
15:47And the macro factors that brought that
15:49about?
15:50What are those underlying shifts that
15:52happened that meant we went from the
15:54logo to the person?
15:57Let's zoom out 300 years. So, the the
15:59agricultural age
16:01uh was essentially the economic system
16:03was called feudalism. And there was
16:05lords and kings and queens. And then
16:06there was serfs and people who served
16:08the land. Then technology changed
16:10things. You can imagine what it must
16:11have been like when 300 people were on a
16:14farm, and then they saw three people on
16:16a tractor.
16:17And then that tractor went
16:20and went and did the job of hundreds of
16:21people with three people on it. And it's
16:24like, "Oh my goodness, what are we all
16:25going to do?"
16:26Um how are we all going to live our
16:28lives anymore, right? And then they
16:29would have said, "Well, what are going
16:30to be the jobs? Like, everyone works in
16:32farming." And it's like, "Well, there's
16:34going to be this whole new system. There
16:35will be a completely new economic system
16:37called the industrial system, and it's
16:40going to replace everything."
16:41So, back in the agricultural age,
16:44uh if you were a lord, right? And if you
16:46were rich, if you were successful, you
16:47had vast tracts of agricultural land.
16:50But as soon as the industrial age kicked
16:52in, you didn't even need land. You only
16:54needed a tiny amount of land to put a
16:55factory on. What mattered is that you
16:57had the ability to organize labor and
16:59machinery. And if you could organize a
17:01factory, that was way more economically
17:03productive than a huge hundreds of
17:05acres. So, the whole economic system got
17:08tipped on its head. And suddenly it
17:09didn't matter if you were a duke, it
17:10mattered if you were an industrialist,
17:12if you were a capitalist. So, this whole
17:14new system took over. We had 200 years
17:16of innovation, and it went through
17:17multiple waves. But, the important thing
17:20to know is that it's technology that
17:21changed things, right? It's always a
17:23technology shift, right? The the the
17:25fundamentals of the economy are dictated
17:27by the technology that we have available
17:29to us.
17:30So, what happened around the 2000s to
17:342020
17:35is we had these general-purpose
17:37technologies that just got introduced as
17:39though they were nothing. You know,
17:41suddenly everyone can publish a video
17:43online. Suddenly, everyone can write a
17:45blog. Suddenly, everyone can tweet.
17:47Everyone can form a community on
17:48Facebook. Uh there's this device that
17:51you put in your pocket that is better
17:53than a uh traditional camera studio that
17:55the BBC would have had. So, the the
17:58power was just rapidly swinging from
18:00institutions to individuals. I'm sitting
18:02there going, "Wait a second, an
18:04individual has got all the things that a
18:06multinational corporation has access to,
18:09but they don't have the bureaucracy,
18:10right? They don't have the the weight on
18:12their shoulders. They don't make slow
18:13decisions. They can make fast
18:14decisions." So, as I witnessed this
18:16technology being introduced, I said,
18:19"The way this is going is it's going to
18:20take all the power of big businesses and
18:22institutions and just give that to
18:23individuals."
18:25That's exactly what happened.
18:26And it I mean, if there was ever a year
18:28where that's been more in focus with
18:29this election cycle and what we've seen
18:31with Trump and going on Rogan and Kamala
18:35going on Alex Cooper in the media lens.
18:37That That's what cost the election. So,
18:40that's a big trend. Um
18:42US presidential elections have always
18:44predicted major trends. So, Franklin
18:46Roosevelt in the '30s, he did the
18:49national radio campaign. JFK in the '60s
18:53did the televised campaign. Obama in
18:552008 did the social media campaign. Each
18:58of those campaigns changed the game.
19:01Trump in 2016 did a hyper-personalized
19:04digital data-driven campaign, uh
19:06famously with Cambridge Analytica. And
19:08that actually gave birth to data
19:10analytics and hyper-personalization.
19:12And then something big happened in 2024.
19:16And what happened is that Trump broke
19:17the mold on campaigning and he started
19:19going on all these major podcasts.
19:22And if we actually crunch the numbers,
19:25Trump did something like 40 hours worth
19:28of watch time.
19:29And it got 124 million views.
19:33And Kamala did, I think it was 7 hours.
19:36Just in the long form? Yeah, just on the
19:38long form. She did 7 hours total and it
19:42only got a few million views.
19:44And one of her podcasts only last 7
19:46minutes.
19:47Now, what she did is she approached it
19:49like a McKinsey consultant, which is she
19:51turned up and she said, "Here's the
19:52script, here's the questions.
19:54Ask me these questions and then I'm out
19:56of here." And it was very much the kind
19:58of professional corporate approach.
20:01Trump rocks up onto comedian's podcast
20:04and says, "Yeah, ask me anything." And
20:05then he just goes on a big rant and it
20:07goes for 3 hours.
20:09Now, what's actually happening is is
20:10quite predictable.
20:12In a world of short videos and in a
20:14world of AI and in a world of confusion
20:16and disruption
20:18and and where everyone's throwing
20:21punches at each other saying, "You're
20:22misinformation, you're misinformation."
20:24You've seen some of this, right? Going
20:25on, right? Misinformation,
20:27misinformation.
20:28What's actually going on is that people
20:30say, "Hey, enough's enough. I want to
20:31see a long-form piece of content and
20:33make my own mind up. I don't want anyone
20:35to tell me what's misinformation. I'm
20:37smart enough. I want to see if this
20:39Trump guy is a crazy guy. I want to be
20:41able to see him, you know, for 2 or 3
20:44hours and I'll make my own mind up on
20:45that because everyone's saying so many
20:47different things and I know that there's
20:48all this confusion. I want the long-form
20:51piece of content."
20:52So, 2024
20:54began the long-form unscripted era,
20:56right? So, now where we are with
20:58marketing is you've got to drop the
20:59script and you've got to do long-form
21:01content. And here's my prediction.
21:04The prediction is is we're going to see
21:05the biggest CEOs in the world clamoring
21:08to get onto this podcast and other
21:09podcasts like it. They're all going to
21:11be wanting desperately to build their
21:13personal brand because they know that
21:15the long-form unscripted podcast is the
21:17only way to hire talented people, the
21:20only way to get loyal customers, the
21:22only way to keep investors happy. It's
21:24going to be the key to the entire
21:25shooting match is that the CEO of a big
21:28company has to become human and they
21:30have to be unscripted.
21:33And what advice would you give them
21:34because you consult for a lot of people?
21:35They come to you for advice whether it's
21:36the biggest influencers of the world or
21:37CEOs. If
21:39if you were giving them advice on how to
21:41achieve that goal, what would you say?
21:43Well, I I mostly talk to entrepreneurs
21:46and I mostly care about entrepreneurs.
21:48And the advice I give to entrepreneurs
21:49is work your way up the podcast pyramid.
21:52Um so, there's literally thousands and
21:54thousands of podcasts that get a few
21:56thousand views. Just go on those. Go on
21:59lots of them. Um if you do a good job,
22:01you'll eventually be invited onto a
22:02slightly bigger one and you'll
22:03eventually be invited onto a slightly
22:05bigger one again. And there's this
22:06pyramid of, you know, there's there's a
22:08few podcasts as big as yours, but
22:10there's thousands of podcasts in every
22:12single niche and vertical where anyone
22:15can go on and you know, talk about who
22:17they are and what they do.
22:18So, for any entrepreneur, my challenge
22:20to them, the ones that I'm working with,
22:22is an absolute minimum I want them to
22:24create 10 to 20 hours of watch time in
22:27the year ahead. So, I want people to go
22:30on 10 podcasts that last for 2 hours or
22:331 to 2 hours and I want them talking
22:35through their business story, their
22:36origin, their mission, their vision,
22:39you know, how they got started, the
22:40types of people they employ, the types
22:41of customer problems they solve, the
22:43outcomes they deliver. All of that, put
22:45it all into a podcast, get good at that
22:47format.
22:48You
22:49publish in lots of ways, right? You
22:51publish written form, you publish in
22:53video. Is there anything at all that's
22:56if there was one single thing that's
22:58helped you become better at speaking or
23:00communicating ideas
23:02and you can't say, "No, I'll take away
23:04the restraints." What would you say it
23:05is? Frameworks. Frameworks. What does
23:08that mean?
23:09So, you need communication frameworks.
23:11So, if I'm introducing myself
23:14to someone, I use something called name,
23:16same, fame, aim, and a game.
23:18So, we can break that down.
23:21What is my name and my business name?
23:23What is What is it that I'm the same as
23:26that you already understand?
23:28Let's pause there. What is Why does that
23:30matter? When people are storing
23:32information, they need to open a folder,
23:34and they want to open a folder that's
23:35very easy to label. So, they don't want
23:38to open a folder that says like I'm an
23:40energetic healer that works with
23:42transmutational objects that that
23:44transcend time space and blah blah blah.
23:47They want to go, "Oh, you know, you're a
23:49life coach. Okay, great. I understand
23:50that." Or you're a vet. Okay, cool.
23:52You're a consultant. You're You know,
23:54you're a software company. Got it. So,
23:56it's like just the most basic thing that
23:58I can then hang everything on that. Mhm.
24:00Cuz I already understand it.
24:02So, name, same, fame. So, fame is like
24:05what makes you interesting? What makes
24:06you fascinating? What big brands have
24:08you worked with? What interesting
24:09projects have you landed? So, anything
24:12that would make you stand out. Any big
24:13numbers, any awards, any big names, any
24:17of that would be your fame.
24:19So, name, same, fame. Aim. What are you
24:23working on in the next 90 days?
24:25Mhm. And then game. What is your bigger
24:27vision? What do you want to achieve in
24:28the next three to six years?
24:30I think a lot of people aren't even
24:31clear on that.
24:32A lot of people aren't, and that's why
24:33the framework's powerful, cuz it forces
24:35you to get clear on it. If you then get
24:37clear on it, you can introduce yourself
24:39with power and authority. You can do the
24:41beginning of a podcast. You can be on a
24:43stage. Just introducing yourself at a
24:45networking function. Believe it or not,
24:47you can cram all of that into 30
24:49seconds. Mhm.
24:52And so, going back to this point of
24:53preparation. Right, so one of the big
24:55things that is going to give me a
24:56significant competitive advantage if I'm
24:58building a business is personal
25:00branding.
25:01What else do you think someone like me
25:04at the start of my career needs to
25:05understand about the game of personal
25:06branding? Is there are there any
25:08particular platforms I should be aiming
25:10at? A particular upload cadence? A
25:13particular type of content? Here's what
25:15you need to know.
25:17You need to know that humans have a
25:19limited ability to remember names and
25:21faces. They only have a small number of
25:23slots in their brain for who they
25:25remember. And the number is about 1,500
25:28in total.
25:30Um and it's about 150 that you can kind
25:32of remember well. And these are called
25:34Dunbar's numbers. And Dunbar's numbers
25:36basically said you've got a few slots
25:37for your family and then some more slots
25:39for friends, then you've got your
25:40acquaintances right out to 1,500 people
25:42that you can easily put a name and a
25:44face to.
25:46In order to for you to be successful,
25:47you've got to get into people's head.
25:49They have to kind of know who you are.
25:51Um in order to do that, they have to
25:53spend time with you. They have to have
25:56rep uh repetition with you and they have
25:57to see you in multiple contexts. So, the
26:00research says 7 11 4.
26:027 hours, 11 interactions on four
26:04platforms. Per?
26:06In order for you to remember me. Okay.
26:08Total. Okay. So, for example,
26:11you and I, we've now connected a few
26:13times. Um so, we have probably clocked
26:15up maybe 7 hours together. Mhm. Now,
26:17what that means is that uh if I bumped
26:21into you at a conference, even if I was
26:22on one side of the room and you were on
26:23the other side of the room, you'd say,
26:24"Oh, there's Daniel." Your brain would
26:26immediately go, "Oh, there's Daniel.
26:27I'll walk over. I'll say hello." Because
26:28we've spent enough time together. Um
26:31now, there's this phenomenon called
26:33parasocial relationships. Parasocial
26:35relationships are basically one-sided
26:37relationships. It it's how we feel
26:39towards famous people.
26:41So, we think that we know George
26:44Clooney. We think that we know Angelina
26:46Jolie. We don't. It's a parasocial
26:47relationship. That person we've spent
26:50time with them through their movies,
26:52through their media appearances, and
26:54therefore, because they've clocked up 7
26:5611 4 with us,
26:58we then feel that we know them.
27:00Is this making sense?
27:01Makes perfect sense.
27:02Yeah, so what we have to do is build
27:03parasocial relationships at scale.
27:05So, what we have to do is put out enough
27:07stuff where anyone can spend 7 hours, 11
27:10interactions for on four platforms.
27:13So,
27:14when I work with entrepreneurs, here's
27:16one of the questions I always ask. I
27:17say, "If I was to block out tomorrow,
27:20and I'm going to take all day to watch,
27:22read, or listen to everything that
27:24you've got available online,
27:26and uh I'm looking for things that are
27:27on message that tell me about who you
27:29are, who you serve, what it is that you
27:31do,
27:32can I spend all day going through your
27:34online environment and just fill the
27:36entire day?"
27:37And most people say no.
27:39And then, occasionally, some people say,
27:41"Yes." And they say, "Yeah, actually you
27:42can. I've been on a few podcasts. I've
27:44got an audiobook that I released. I've
27:46got some videos on YouTube. I've got
27:48some posts on LinkedIn. You could go
27:49through all of that." Those are the ones
27:51that are scaling really fast, because
27:53they've put in the work to be scalable.
27:56They can build a parasocial relationship
27:58like that.
27:59And if we drill down into the art of
28:01building a parasocial relationship,
28:03Mhm.
28:04because it's funny, at the start of the
28:05conversation you said that these are the
28:06new rules in business in the world
28:09because of these macro changes. But at
28:11some point, the new rules become the old
28:13rules again,
28:14Mhm. when everyone listens to this
28:15podcast. And you kind of see it at the
28:17moment on LinkedIn. LinkedIn is a
28:19um
28:20a long stream of professional personal
28:23brand builders, whereas 5 years ago, it
28:25wasn't the case the case.
28:26But but the but the numbers are still
28:28only 1% of people are doing it. 99% of
28:31people aren't posting weekly. So, we're
28:32still early.
28:33We're still way early. But is there is
28:35there a
28:36a framework for
28:38creating some kind of differentiation
28:40amongst
28:42a noisy crowd? Because
28:44Yeah. So, the the differentiation So, a
28:46lot of people ask me about
28:47differentiation. So let's talk about
28:49what makes you different. And to you to
28:50talk about this, let's go through a
28:52scenario. And the scenario is that
28:54you're walking down the street and
28:56you're walking down Oxford Street and
28:57it's thousands of people, really busy
28:59street.
29:00And as you're walking down, your brain
29:03has this limbic system that just deletes
29:05people. So you just kind of see people
29:08as blobs not to hit and you just kind of
29:10walk. And if I stop you at the end of
29:11the street and I say, "How many people
29:13do you remember seeing?" you'll go,
29:15"None. I don't remember seeing anyone in
29:16particular." If I said describe some of
29:19the people, what they were wearing, "I
29:20can't remember anything."
29:22So your brain is extremely good at
29:23deleting messages and this is what's
29:25happening in our marketplaces. People
29:27just delete everything.
29:29Here's what doesn't get deleted. So
29:30there's there's five things that will
29:32not be deleted by the brain. The first
29:34one is scary. So if something is scary,
29:37we pay attention to it. This is why the
29:39news has been so successful for many
29:41many years because they say if it
29:43bleeds, it leads. If it's scary, if it's
29:45horrible, people will watch it. Let's
29:47find the the worst possible things that
29:49happened today. Let's blow them up and
29:51put them in everyone's house so that
29:52they spend time watching uh watching the
29:54news.
29:55So so be a scary person.
29:56scary, right?
29:58Uh the next one is be strange. So if you
30:01saw someone walking down the street uh
30:03dressed as a giant hot dog, you'd say,
30:05"Oh, I remember the guy who was dressed
30:06as a giant hot dog." cuz it's so
30:07strange. Peacocking. Yeah. Well,
30:09peacocking, yeah. Uh you could try Yeah,
30:11exactly. You could wear that big kind of
30:13hat that you've got in the cupboard that
30:15uh that we don't talk about.
30:16Mhm. Uh and then the next one's sexy.
30:19So So we've got strange, we've got
30:22scary, we've got sexy. Now these are
30:24three things that most businesses don't
30:26want to be. So most businesses can't
30:28stand out and sexy, even if they wanted
30:30to be that, most people can't pull that
30:32one off anyway.
30:33Um so only a few lucky people get to do
30:35that one.
30:36Um but actually the last two are the
30:38ones that are most useful.
30:39And that is providing free value, so
30:41free things.
30:43Anyone who gives free value away is
30:45immediately stand out.
30:47Okay, we've got to make sure that it is
30:49value.
30:49It's got to be value. Because everyone
30:50thinks what they're doing is value.
30:52Totally. It's got to be something that
30:53people would have otherwise paid for.
30:55Um and it has to be beautifully
30:56packaged. So, if I hand you a piece of
30:59jewelry in a plastic bag, you're going
31:01to think, "Oh, it's fake or it's, you
31:03know, stolen or it's, you know, not real
31:04or something like that. It's cheap."
31:06Right? If I hand it to you in a
31:07beautiful box and it's beautifully
31:08wrapped, you're going to say, "Oh,
31:09that's a very thoughtful gift." Mhm. So,
31:11it's the way that it's packaged and it's
31:12also, you know, that it's actually
31:14something that people would otherwise
31:15pay for. So, providing free value,
31:19um and also being familiar, which is
31:21clocking up the 7-11-4. So, free and
31:24familiar are the two things that anyone
31:26can apply.
31:28So, look at Let's look at you, for
31:29example. You spend tens of thousands of
31:31pounds producing episodes of this show
31:33and you just make it freely available on
31:36um
31:37YouTube. I wish that's how much I spent.
31:39Well, each each show, right?
31:41Um
31:43So, you're putting all this energy and
31:45effort in and you're putting high
31:46production value. You're going to the
31:48expense of getting all these great
31:49guests. All of this stuff's going on and
31:51then you're making it free for so many
31:53people. You're including people in
31:55conversations that they normally
31:56wouldn't have access to. So, you have
31:58clocked up enormous amounts of standout
32:01value for people because you've been
32:04consistent, so 7-11-4. People have spent
32:067 hours, 11 interactions, four locations
32:08with you. Um and also you've done free
32:11value. So, you've given a lot for free.
32:14So, um essentially, those are the two um
32:17and you're also strange. So,
32:19So, with those three things, you've been
32:22able to uh succeed massively.
32:23We do have scary conversations as well.
32:25I have to be honest. We did the nuclear
32:26bomb conversation, right? And happy sexy
32:28millionaire, so you've got that as well.
32:29Yeah, sexy is what I'm Thank you so much
32:31for that, Daniel. You've got all five
32:32going on.
32:33It but when you were saying this, So
32:35actually thinking of this as a a
32:36marketing framework for brands as well.
32:38I was thinking of that kid that I met on
32:40the in the promenade in Cape Town with
32:42the couple and I was thinking if they
32:43were starting out with an idea today in
32:45a very saturated environment like Oxford
32:47Street in London,
32:49pulling in on some of these actually
32:50gives you such an unfair advantage to
32:53get to get going. And I I I know this
32:54myself because when I was 18,
32:58one of the things that I realized in
32:59hindsight was working for me was I
33:00looked a bit strange. I had this big
33:03which some people will find photos of,
33:04this big hat that I used to wear and I
33:06would wear it everywhere. I wore it
33:07because my hair was But it became
33:09this like this distinctive thing that at
33:12conferences, at events, on my LinkedIn,
33:14it became part of my brand. That's why I
33:16interjected with the word peacocking
33:17because looking slightly different in
33:20some way does actually It does work.
33:22Yeah, it cuts cuts through the noise.
33:24The other thing too, let's go to your
33:26friends the 21-year-olds in Cape Town.
33:30One of the first things we can do for
33:31free is we can
33:34um productize what's called the demo
33:37and the customer needs analysis. So
33:39let's get really tactical here.
33:42Um
33:43when it comes to what most people do to
33:45launch a business, they make a real
33:48focus on the supply of what they do. So
33:50if they let's say they want to do a
33:52drinks business,
33:53they're going to like talk to bottling
33:55companies and they're going to talk to,
33:56you know, how much do I have to spend
33:58buying the fruit to put in the tea and
34:00do all that sort of stuff. They're
34:01thinking about the supply of what they
34:03do.
34:03Um if they're going to launch a
34:04consulting company, they're thinking
34:06about, oh, do I have the right MBA
34:07qualifications and all of this stuff is
34:09the supply side of what they do.
34:11What we want to do when we launch
34:12anything is we want to test the demand
34:14of what we do. So testing demand, the
34:16best way to do this
34:18is uh one of the best ways to do this is
34:21to productize the demo and a customer
34:23needs analysis. Mhm. So that is where we
34:25go around and we sell a presentation
34:28that might be 15 minutes to for hour
34:31where we present what it is that we can
34:32do and how it works and the principles
34:34of how it works and then we collect
34:37enough data to identify whether you've
34:39got the need for that product. So, it's
34:40called a customer needs analysis. So,
34:42the demo and the customer needs analysis
34:44you can package that up so it feels like
34:47a product. It feels like something free
34:48of value.
34:50So, give me an example then using I'm
34:51going to launch a a new coffee. Yeah.
34:53And it's the the the point of difference
34:55with my coffee is
34:56it is going to be good for your libido.
34:59Fantastic. So,
35:00uh let's imagine that we're going to
35:02sell that through retailers. Yeah. And
35:04the real customer is not the end user,
35:06it's the retailer who's going to stock
35:07it. So, what I would do is I would say
35:10we've got a new coffee brand coming and
35:12it's all about coffee for libido
35:13boosting.
35:15Um and what we want to do is we want to
35:17present to you the data, the research as
35:19to how this coffee works and why it
35:21works and all of that sort of stuff. We
35:22want to show you the branding, we want
35:24to show you like what this is going to
35:25look like. And then also what we want to
35:27do is set up a customer needs analysis
35:30where we collect the data from several
35:31of your locations to find out in advance
35:34whether people would sample this
35:35product, whether they'd buy this
35:36product, how much they'd spend.
35:38Um so, we will at our expense do the
35:40clip boarding or we'll do the um wait
35:42list campaign um or we will uh collect
35:45the data uh through um
35:48a you know, a coming soon promotion. So,
35:50essentially what we're going to do is
35:51we're going to present the data and
35:53we're going to do the customer needs
35:55analysis or present the demo, the
35:56customer needs analysis and that's all
35:58going to be packaged up as our first
35:59thing. Now, mind you, we may have no
36:01coffee at this point. We may actually
36:03have no physical product, but big
36:05retailers, they move slow anyway. Even
36:07if you had product, they wouldn't buy it
36:08today. So, they're going to say, "Oh,
36:10that's fantastic. That's what we'd like
36:11to do. We want to collect the data and
36:13we want to see the demo and see the
36:14research."
36:15So, by packaging that up as a first
36:17step, uh you're actually providing
36:20initial value. Do you know one of the
36:21things that I don't think I've ever
36:22talked about that I think um
36:23entrepreneurs and people that are
36:25founding companies should really
36:26consider
36:27is
36:29if you're thinking about let's say
36:30writing a book,
36:32instead of writing the book and then
36:34hoping it does well,
36:35Mhm. what you should do is you should
36:37take the book idea you have
36:39and then run it as a Facebook ad.
36:42Run 100 different titles. Um and when
36:45people click on that Facebook ad, they
36:46hit a waiting list.
36:47Yes. Now, in that whole process, what
36:49you've just done there is you figured
36:50out the exact percentage of people that
36:52will click on um 100 different ideas.
36:55So, for my upcoming book, one of the
36:57things that I did and some people
36:58listening to this now would have seen
36:59the ads, is I ran 70 book titles.
37:02Mhm. Beautiful. So, 70 books like this
37:05would have popped up in your feed and
37:06people have clicked on them and they've
37:07said, "I want I would like that book."
37:08They put their email address in or
37:09something like that. And now I have this
37:11data and I can tell from the top of my
37:12head Which is the most successful?
37:1415% of people clicked a certain one and
37:16the worst performing one was clicked by
37:190.3% of people. And I could have
37:23written a book um about that 0.3. And my
37:25math isn't exceptional, but the variance
37:27between a 0.3% conversion and a 15%
37:29conversion is like what's that? 1,500%
37:32or something crazy?
37:34Um and all and it was and it would cost
37:36me 200 quid to run the test. Yeah, um
37:39that's the beauty of Facebook ads. You
37:41know, you can do a set I mean, at any
37:42given time we've got hundreds of
37:43different variations of ads running and
37:45they it's like, you know, it's basically
37:47the Hunger Games for which ad performs
37:49better.
37:50Um and people don't do this sort of
37:52stuff and this is how professionals like
37:54yourself launch businesses. So, um with
37:57anything that I'm launching, whether
37:58it's a book or a product or a new
38:00business, we're going to run a set of
38:02Facebook ads, probably 10, 20, 30
38:04different variations. When you click on
38:06the link, it says, "This product's no
38:07longer available in your area." Or this
38:09product is not yet available in your
38:11area. Um but you can join the waiting
38:13list. Click here to join the waiting
38:14list. Now, once people click to join the
38:16waiting list,
38:18uh that's where we ask about five or six
38:20key questions. So, there's this thing
38:23inside people's head called the
38:24situational model. And the situational
38:26model is where am I now, where do I want
38:28to be, what's in my way, and what do I
38:30perceive as the path of least
38:32resistance. So, all the questions that
38:34we ask uh
38:36tell me about who you are today, which
38:38best describes your current situation.
38:40Tell me about where you want to be,
38:41which best describes the outcome that
38:43you're looking for from this product or
38:44service.
38:46Uh
38:46what's in the way, which best describes
38:49the reason you've not been able to get
38:50that outcome in the past. Mhm. And what
38:53are you currently considering
38:55as an option for getting that outcome?
38:58Right? So, those are the key four key
38:59questions. Then we might ask some price
39:01questions.
39:02Uh what price do you feel would be a
39:05fair price to pay?
39:06What price do you think would be so
39:08cheap that it would make you question
39:10the quality? What price would be so
39:12expensive um that you would no longer be
39:15able to afford this?
39:16So, we'll ask a few pricing questions.
39:18So, we don't just get people to join a
39:20waiting list.
39:21Sure. We're saying we want to understand
39:22the situational model. Because here's
39:25the interesting thing, especially with
39:26other products, not necessarily books,
39:28but with other products, sometimes you
39:30get a lower click-through rate,
39:31sometimes you get um what appears to be
39:34cheaper marketing,
39:35but attracts the wrong person. Yeah. And
39:37then sometimes you get a poorer
39:39performing marketing campaign. So, this
39:41one might produce leads at £10 a lead,
39:43this one might produce leads at £20 a
39:45lead, but this one might be attracting
39:47students who are broke, and this one
39:49might be attracting chief executive
39:51officers who are on 500 grand a year.
39:53I'd rather pay £20 for that client than
39:56£10 for that client. So, by getting the
39:59situational model, uh we can actually
40:01then understand which is the best
40:03campaign. Is there anything else that's
40:05really sort of pertinent to testing if
40:06my idea has legs? And I want to just add
40:09an element to this, which is we're not
40:11just talking here about the first idea,
40:13we're talking about every product you
40:15you release in the future.
40:16every business. Even your marketing
40:18campaigns and everything you do.
40:19Yeah. The The world is moving so fast
40:21that if you're an existing business
40:22listening to this, let's say you're a
40:24big business, you do tens of millions of
40:25profit, you're going to be pivoting into
40:27new products, new markets, new
40:28territories. You're going to be um
40:31trying to attract different age
40:32demographics. You're going to be you
40:34know, all of that sort of stuff.
40:36This is one of the rules of the current
40:37economy is about data and testing.
40:40You've got to be really fast with how
40:42fast you can prototype and test and get
40:44the data. Um so we love intro events
40:47where you just simply do an introduction
40:49event on Zoom uh to talk to customers.
40:53Um so we're introducing you to this new
40:55coffee. Um what do you think? Uh come
40:57and join the introduction event. We're
40:58going to share with you some research.
41:00We're going to have a a guest speaker
41:02who you've already heard of, right? So
41:04that would be an introduction event. Um
41:05I'm a big fan of discussion groups.
41:07Discussion groups are awesome for
41:08testing a an idea. So let's say um
41:13it's a discussion group. You know, let's
41:15say you're doing a a new brand of coffee
41:17and it's for Sex coffee. Sex coffee,
41:20right? Sexy sexy coffee. Um so yeah,
41:23we're going to do the sexy coffee
41:24discussion group, right? And it's
41:25basically we're launching a new product
41:27um and it's all about uh bringing sexy
41:30back to coffee. Um and if you love
41:32having coffee and you want uh want to
41:35be part of this new brand that we're
41:36launching, join the discussion group.
41:38Discussion groups are pretty wild. So
41:40I'll give you two examples of discussion
41:42groups. One of our clients um Gabriella
41:44Rosa, she uh ran a clinic.
41:47Um and it was a fertility clinic and it
41:48was about natural fertility
41:49breakthroughs. Um and what she did is
41:51she had a physical clinic that was run
41:53in a traditional way. She wanted to go
41:54and be more digital. So she launched an
41:56online discussion group where she said,
41:58"This is a discussion group for people
42:00who want uh fertility breakthroughs."
42:0223,000 people joined the discussion
42:04group, all right? And it was super
42:06active and she never had to worry about
42:08customers ever again and she built her
42:09business then globally. Uh from there
42:11she wrote a book and she changed her
42:12business. She went from a physical
42:14location to a digital business, um but
42:16it it started with a discussion group.
42:18Um another guy, one of our clients, Max,
42:21he sold a business, not for a crazy
42:24amounts of money, but a decent sale, and
42:26he decided he wanted to um spend time
42:28with people who had
42:30uh family offices. And family offices
42:32have hundreds of millions of dollars to
42:34invest, and they're like basically the
42:35family office of multi-billionaires and
42:37things.
42:38He reached out on LinkedIn,
42:40and he said, "I'm launching a WhatsApp
42:42group for people who run a multi-family
42:44office or a family office. If you'd like
42:46to join, uh it's limited to 400 people.
42:48If you'd like to join, fill in the
42:50application form to be part of our
42:51WhatsApp group for family office." So,
42:53he ended up with 400 people who have
42:55collectively over 10 billion to invest.
42:57And he built himself a a a group of
42:59people who are some of the most
43:00successful investors in the world and
43:02some of the biggest checkbooks in the
43:03world. Um so, it just started with a
43:05WhatsApp group. So, um a discussion
43:07group is just a super easy way to launch
43:09anything. Um and it costs nothing to set
43:12up a discussion group on WhatsApp, on
43:14Facebook, on LinkedIn.
43:16Um so, those are some of the some of the
43:18best ways. And then, the final one that
43:19I love is called an assessment. So, a
43:22quiz or an assessment. And this is
43:23basically
43:24where essentially you turn the customer
43:27needs analysis into an assessment, and
43:29people fill in questions to find out uh
43:32if they would like the thing. So, for
43:34example, I noticed on one of your
43:37uh what which one? Huel, right? Sorry. I
43:39noticed on Huel that
43:41you have a quiz.
43:42Um and the quiz is which Huel is right
43:45for you? Um and if you click that
43:47button, you answer a series of
43:49questions, and it tells you which
43:50product would be the best product for
43:52you to uh for you to take. I noticed
43:54that Whoop didn't have it, right? So, I
43:55actually created one for you. But
43:57anyway,
43:57you. uh I'll give it to you later. Um
44:00but basically, if you wanted to uh
44:03launch a product like Whoop, you you do
44:05an assessment, which is how well do you
44:07know your health and fitness? You know,
44:09um do you are you tracking your sleep?
44:11Are you doing this? Are you doing that?
44:12So, by launching the assessment first,
44:14while you've got the product in
44:15development, you could get 10,000 people
44:18who filled in the assessment. Now, if
44:20they've come up with a score that is
44:22like, "Oh, I only know my health and
44:23fitness 22%. I need to get that up to
44:26over 80%. I need a product that helps me
44:28to do that."
44:29So, that assessment is essentially
44:31diagnosing a need. You're helping the
44:33customer diagnose a need. Yeah. That
44:35maybe they weren't clear on.
44:36Yeah. So, this is customer needs
44:37analysis. Smart businesses often sell
44:41the needs analysis before they sell the
44:42product. Especially with anything that's
44:45especially anything that is complex.
44:48But, it goes beyond that because most
44:50customers now feel a sense of clutter in
44:52their lives. We've gone from feeling 100
44:55years ago, we felt that we had lots and
44:56lots of things that we wanted or needed,
44:58and we had unmet needs.
45:00Most people feel the opposite today. We
45:02feel that we have too many books and we
45:04haven't read them. We have too much
45:06entertainment, we haven't watched it. We
45:07have too many clothes and they're
45:09cluttering up our wardrobes. Our houses
45:11are full of stuff. Mhm. So, people feel
45:13such clutter that they only want things
45:15that are hyper-personalized to the thing
45:17they actually need.
45:19Um because otherwise, they feel, you
45:21know, that it's going to be another
45:23thing that they're not using.
45:25So, by selling a customer needs
45:26analysis, when people see that it's a
45:27perfect fit, then they want to buy. In
45:30my last book, The Driver of Success: 33
45:32Laws, I talk about um the idea that
45:34friction can create value. Mhm. And I
45:36give examples of where someone has added
45:38friction to the customer process and
45:40it's resulted in more people buying. And
45:42one of the studies I talk about is where
45:44they took two groups of people, they
45:46exposed one of them to a survey in order
45:48to enter a discussion group.
45:50Mhm. Right? So, they had to go through
45:51this survey process to get in. And they
45:53let the second group straight into the
45:54discussion group.
45:55Yeah. And then they asked both groups
45:58to rate how valuable and enjoyable they
46:01found the discussion group to be. Now,
46:02the group that had had to go through a
46:04survey to get in
46:05Yeah. reported that the discussion group
46:07was like really interesting, etc., etc.
46:09And the group that had been let straight
46:11in reported that it was boring. And it
46:13was an intentionally boring group. The
46:14stuff So, they made an intentionally
46:16boring group.
46:17But just because you made someone go
46:18through a process to get in, people
46:20reported that it was more valuable
46:22than otherwise, which says something
46:23about our psychology.
46:24does create value. Um demand and supply
46:26tension is the ultimate test of value.
46:29Um
46:30you know, it's horrible to say
46:32and I I hate this being true, but there
46:34is no such thing as objective value.
46:36Nothing is objectively valuable.
46:38Everything is subjective. Why is a
46:40Bitcoin worth what a Bitcoin is? Because
46:42there's more buyers than sellers.
46:43There's demand and supply tension. Why
46:45is water free? Because it's freely
46:47available. There's no friction.
46:49Why do we never stop and think about how
46:51incredible it is that we have Google
46:52Maps?
46:54And like we go like, "Oh my goodness,
46:56someone spent a billion dollars sending
46:59satellites up so that I can have maps on
47:00my phone for free." Like no one's
47:02weeping tears of joy for Google Maps,
47:04and we should be. Mhm. Because he you
47:06know, someone spent a billion dollars on
47:08our behalf, so we've got free maps on
47:09our phone, but there's no friction
47:11around it. Mhm. Now, if they suddenly
47:12said, "We're taking it away," we'd hit
47:14the roof. Yeah. And if they said it's 10
47:16bucks a month, we'd pay 10 bucks a
47:17month. Mhm. Um so, friction creates
47:21value. Um demand and supply tension
47:24creates value. Now, the very difficult
47:26thing that we have in the world right
47:27now is that in a digital environment
47:30there's no natural tension. Right? So, a
47:33hundred million people can watch a video
47:34in a week and you know, it transcends
47:37time, space, wear and tear. There's no
47:39barriers. Nothing There's nothing that
47:41stops it.
47:42The money accumulates around those
47:44tension points.
47:45So, the successful businesses, they know
47:47how to use the digital environment to
47:48drive up demand and manufacture desire
47:51and manufacture demand. And then they
47:52have choke points in their business or
47:54tension points in their business where
47:56demand and supply tension is rife, and
47:59those are the places where they
48:00monetize. Mhm. Um something that's
48:02really interesting about monetization
48:04that's happening at the moment is that
48:06all the money is moving up to the top
48:0710%, right? So, as as we go through this
48:10big transition,
48:12the affluence is all up in the top 10%.
48:14So, we did some research into this.
48:16The top 1% of people in your audience,
48:19in everyone's audience, whether you're a
48:21you know, LinkedIn account or whether
48:23you've got millions of followers,
48:25top 1% have got a total of 15% of the
48:27budget
48:29available to spend.
48:30The next 9% have got 45% of the budget
48:34available to spend. So, in the top 10%
48:36there is 60% of the available budget.
48:39And then the bottom 90% collectively
48:42have 40%.
48:45So, what happens is that the new
48:47business model that's emerging is that
48:49you give free value to the bottom 90%
48:51and you don't ask anything in return,
48:53but you monetize the top 10%, and you
48:55find things that are very special, very
48:57rare, special experiences, special
48:59products, limited editions, um
49:01communities, uh
49:03special access.
49:04The top 10% have got all the money, so
49:06you just give free value to 90% of
49:08people, and you only create products and
49:10services for the top 10%. That's very
49:11much a new business model at the moment.
49:13And the 90% are driving your content,
49:16your business, your product to the top
49:1910% through their engagement, their
49:20sharing, etc. Well, it's a fractal. It
49:23doesn't matter what you do, the top 1%
49:25will even if
49:26even if you only did something for
49:27billionaires, the top 1% of billionaires
49:29have got 15% of the total budget, and
49:32the and the bottom 90% of billionaires
49:34have actually only got 40% of the
49:36budget. If you take the Forbes list,
49:38it's still those numbers still apply. Um
49:41the key is is that you well, actually
49:43what you want to do is the opposite. You
49:45don't want to get dragged down into the
49:4790% because the 90% are the noisiest,
49:50they're the loudest. So, if you ask
49:53everyone how much should I charge, the
49:56average answer is going to be $500.
49:58But, if you ask the top 1% how much
50:00should I charge, the average answer is
50:01going to be $15 to $20,000.
50:03So, you have to be very, very careful
50:06not to create a product that gets
50:07dragged down towards the 90% cuz the 90%
50:10don't have the budget to pay the top
50:12money. You're far better off
50:15having a way of um
50:17uh
50:18a way of segmenting that top 10% so that
50:21you can actually pick up the signal from
50:23them and not the noise from everybody
50:25else. Are there any other frameworks
50:27that you would use in that early stage
50:29where you're trying to figure out if
50:30your idea has traction or even from a
50:35sort of motivation psychology
50:37perspective
50:39if it's worth pursuing this thing for
50:41the next 10 years of your life.
50:43Because we talk a lot about okay, if
50:44someone's clicked on it, someone there's
50:45demand and interest, but the journey of
50:47an entrepreneur is an emotional one. And
50:49as you often say, there's you go through
50:50hell and high water, ups and downs as an
50:52entrepreneur. So, there's an element of
50:54this which is like figuring out what you
50:56want to commit your life to. Mhm. Well,
50:58we call this the entrepreneur sweet
50:59spot. And the entrepreneur sweet spot is
51:01a Venn diagram. And you're trying to
51:03balance between your passion, Yeah. the
51:06problem and the value of the problem
51:07that you solve, and how much people are
51:09willing to pay for that. So, passion,
51:11problem, payment.
51:12Uh so, ultimately
51:15things that we're highly passionate
51:16about,
51:17that's great, but that only ticks one
51:19box. And if you're passionate about
51:21something, but you're not solving a
51:22problem for others and they're not
51:23willing to pay you for it, you're going
51:25to feel very unrewarded, you're going to
51:26feel
51:27um disconnected, maybe you feel even
51:29unethical uh about that.
51:32Uh a lot of people in corporate jobs,
51:34they solve a problem and they get paid
51:35well, but they're not passionate about
51:37it. And what they tend to do is throw
51:38the baby out with the bathwater, and
51:40they go and pursue being a yoga
51:42instructor from being a corporate
51:44lawyer, and then they wonder why they
51:45got no money cuz they just kind of threw
51:47away the thing that they're very good at
51:49and the thing that they get paid for and
51:50just exchange it. So, what we have to do
51:52is actually try and capture all three
51:55by making some compromises. And the
51:57compromises are I'm not going to go to
51:59the thing that is the extreme of
52:01passion, and I'm not going to go to the
52:02thing that's the extreme of financial
52:04rewards. I'm not going to go to the
52:05extreme of my intellectual property and
52:08my problem-solving abilities. I'm going
52:10to find something that is in the middle
52:11that ticks all of those boxes. So, I'm
52:13I'm getting a good blend. While
52:15understanding that I'm There's going to
52:16be a trade-off. There's going to be some
52:17shadow on the
52:18some trade-offs. Yeah, you can't have
52:19You can't have it all at the extremes.
52:21You can have it all, but not uh all uh
52:24at the extremes. You You talked about
52:26something at the start of this
52:27conversation. You mentioned the word
52:28geography.
52:29Um as we were talking about the macro
52:31factors that are at play in the
52:32transitions we've seen. My question to
52:34you is, does geography matter
52:36for success
52:39as an entrepreneur? So, those kids in
52:40Cape Town,
52:42do they need to be thinking, "Listen, we
52:43need to move to one of the major cities
52:45if we're going to have stand a chance in
52:46most of these new digital um
52:49opportunities?" It used to matter a lot.
52:51When we used to think about
52:52entrepreneurs, we thought about two men,
52:55typically in their 20s,
52:57who came from an a prestigious US
52:59university. They got into a garage.
53:02They, you know, they dropped They
53:03dropped out of Harvard. They dropped out
53:04of Stanford. Uh and then they started
53:07something that was VC-backed. That was
53:09the old model of what we think of as an
53:11entrepreneur. And it was very much
53:12dependent upon those parameters.
53:15Entrepreneurship's transcended that.
53:16It's transcended geography, gender,
53:19race,
53:20um
53:20and and also the sca- size and scale of
53:22what we consider to be successful. So,
53:24what we're now seeing is people all over
53:26the world who uh are able to connect
53:29with markets anywhere in the world,
53:30launch a product that can be sold
53:32anywhere in the world. Um we're seeing
53:34people who bootstrap rather than get VC
53:36capital. Uh we're seeing people who um
53:38rather than trying to create something
53:40mass market, they create something niche
53:41market. Rather than trying to scale to
53:43be a unicorn, they actually ask the
53:45question at what size would I be
53:47fulfilled? So, there are plenty of
53:49people who
53:51Well, one of the most fulfilling
53:52businesses that you'll ever have has
53:54between six and 12 people and does three
53:56or four million of revenue. And if
53:58you've got that,
54:00probably you're going to be the most
54:01fulfilled person in the world. If it's
54:02profitable. Yeah, well, cuz a lot of
54:04these businesses have 60% margins. If
54:06they're digital businesses, if they're
54:07intellectual property
54:09um you know, if they're running on the
54:10new economy assets,
54:12then they'll be wildly profitable. So,
54:14you might have six to 12 people do two
54:16or three million a year. You might make
54:18a million of clear profit. Um and then
54:20you're totally building a business on
54:22fun, freedom, and fulfillment. Are you
54:25the next Google? Absolutely not. Do you
54:26have VCs breathing down your neck? No.
54:29Um are you able to pick and choose the
54:31types of people and opportunities you
54:33want to work with? Yes. So, incredibly
54:35fulfilling. So, that's a new type of
54:37business. I would call that a lifestyle
54:38boutique.
54:39Um there's another type of business
54:41called a performance business. Um and
54:44this is a business that typically has 30
54:46people, normally working with some sort
54:48of technology,
54:49and they build a business that
54:51they build a business that can be sold
54:52for between 10 and 100 million. And
54:54that's my That's my game. I like
54:56businesses that achieve 10 to 100
54:58million valuation with about 30 people
55:00on a team, and we can sell to either a
55:02publicly listed company, a private
55:04equity-backed company.
55:06Um we can exit to any of those kind of
55:08companies, but you know, we don't have
55:10to be the next Google, and we also don't
55:11have to split the exit with a VC.
55:14Why do you say that when you also just
55:16said that the most fun and fulfilling
55:18businesses are actually those small ones
55:19with a small group of people? In order
55:21to go to that next level, you have to be
55:22a business geek.
55:24So, anyone can build a six to 12-person
55:27business, and at that point all you have
55:29to geek out on is the topic of interest
55:31to the customer. So, if your customer
55:33loves yoga, you're just talking about
55:35yoga all the time. Or if your customer
55:37loves photography, you're talking about
55:38photography. And you don't have to be a
55:40business geek at that point. When you've
55:42got a team of about 30 to 100,
55:45uh you have to be a you have to be
55:47totally into the product, the
55:49intellectual property of what you do,
55:51but you also have to geek out on
55:52technology, and you also have to geek
55:54out on business.
55:55So, not everyone is built for that. You
55:58have to really love your acronyms. You
56:00need to like, oh, go-to-market strategy
56:02or, you know, lifetime value of a
56:03client. I I Okay, what's the LTV? What's
56:06the GT you know, GTM? So, you kind of
56:08got to be into all of those things uh
56:10quite naturally. You naturally want to
56:12read business books. Um so,
56:15you're not going to enjoy that if you
56:16hate business or if you hate technology,
56:18cuz those businesses tend to be about um
56:20business strategy and tech. These ones
56:22are about intellectual property, media,
56:24and data.
56:25Got you.
56:27Do you think you'd be happier if you
56:30were less ambitious?
56:31Um I My happiness levels are really
56:33high. Um I walk around feeling like I'm
56:36super lucky to do what I do, and it's
56:38total privilege, and I love living in
56:40these times. I can't believe I'm lucky
56:42enough to be born at the perfect time to
56:45see this change and and to have access
56:47to all these resources. And what do you
56:49How do you think about work-life balance
56:50these days? And how should especially
56:52sort of young founders When I say young
56:54founders, I don't mean age, I mean
56:55stage.
56:56Um should be thinking about work-life
56:57balance in your view? So, I had no
56:59balance for many years, probably a
57:00decade or more.
57:02Um all I did was uh essentially just get
57:05out of bed, work, uh everything related
57:07to work. And the reason I did that is
57:09that it ticked all of my human needs,
57:11right? I was getting significance and
57:12variety, um and I was um
57:15you know, getting uh certainty, and I
57:17was getting all of those things that we
57:18want from life, and I was feeling a
57:20sense of growth and development and
57:22learning. So, everything plugged into
57:24those human needs, and my business was
57:26giving me all of that. When I had uh
57:29kids and I got married, there was this
57:31whole other side to me that needed to be
57:32balanced. And I think that there's more
57:36to do with there's some seasons, like
57:38that we go through sprints, and I tell
57:40friends, family, uh hey, I'm going
57:42through a bit of a sprint right now.
57:43We're launching something new.
57:44Um and then there are times where I
57:46switch off a lot. Do you Do you goal set
57:49at all? Do you set goals? And if so,
57:51You know, I used to I used to set goals,
57:53and I used to love setting goals.
57:55I don't anymore because my key person of
57:58influence brand
58:00brings in opportunities that I can't
58:02predict.
58:03So, this Diary of a CEO thing was an
58:05example of that. I had all these goals
58:07for 2024,
58:08and then you message me while I'm skiing
58:11and say, "Would you like to come on the
58:12show?"
58:13And I go, "Of course, that would be
58:14amazing." So, I come on the show, and
58:16then that totally transformed my year.
58:18So, as you build a brand, it's harder to
58:20goal set because you've got too many
58:22things So, goal setting is about direct
58:25power, direct influence.
58:27And um having a brand is about indirect
58:29power, indirect influence. It's what you
58:31attract. So, uh ultimately, at the early
58:34stages, goal setting is really important
58:36because it's how do I direct my energy?
58:39Once you get a little bit bigger, you
58:41have to slow down to speed up. You have
58:43to create space to see what's happening
58:45around you.
58:46One of the biggest mistakes I've ever
58:47made was filling my diary so full
58:52that I didn't see some of the biggest
58:54opportunities that were going on around
58:55me. And I think this has cost me tens of
58:57millions. And I really think at a
58:58certain level, strategically, you have
59:01to slow down to speed up. You have to
59:03create gaps where things can hit you.
59:05Things can get onto your radar. Um or
59:08else you miss all the benefits of having
59:10a great brand. So, I have a few
59:12questions here. One of them is about how
59:14you
59:15measure or quantify the value of an
59:17opportunity looking forward when you
59:19have very little information about the
59:20opportunities.
59:21So, So, what we would what we're trying
59:23to move towards is leverage. So, that we
59:25live in a world of leverage. And there
59:27are types of So, it's important to
59:29understand there are type two types of
59:30opportunities. There's bell curve
59:32opportunities and power law
59:33opportunities. So, bell curve
59:35opportunities means that everything fits
59:36within a bell curve, and it's very
59:38unlikely that anything will be outside
59:40of that bell curve. Power law
59:41opportunities means that because of
59:43leverage, the sky's the limit. Um what
59:46we have to do is have the courage to
59:47move out of bell curves and into power
59:49laws. So, for example, a doctor in the
59:52NHS who I know, um
59:54recognized that all doctors earn roughly
59:56the same amount of money. There's no
59:58outliers. Everyone who works in the NHS,
1:00:00if you're a new doctor, you earn about
1:00:02this. If you've been around for 20
1:00:03years, you earn about this.
1:00:05Um and most people fit within that bell
1:00:07curve. There's no doctors who are making
1:00:08a million a month, um type thing. Then
1:00:11there's the power law law. This
1:00:13particular guy dropped out of being an
1:00:14NHS doctor to become a YouTuber, and
1:00:17recognized that there are some YouTubers
1:00:19who are actually earning a million a
1:00:20month, and
1:00:21boom, there is this power law that goes
1:00:23up. So, what we're trying to find now
1:00:25Ali Abdaal. Yes, of course, Ali Abdaal.
1:00:28So, what we're trying to figure out is
1:00:30we're trying to figure out um
1:00:32is this a bell curve or a power curve
1:00:35power law? So, being a speaker on a
1:00:37stage, absolutely a power law uh move.
1:00:41Being friends with a billionaire in
1:00:42Italy and having access to that capital,
1:00:45access to how whatever networks they've
1:00:47got, all of that sort of stuff, if
1:00:48they're the right sort of person.
1:00:49There's definitely two types of
1:00:51billionaires, but
1:00:52Yeah. um
1:00:53but uh
1:00:55that's probably an exponential
1:00:56opportunity, right? It it it it puts you
1:00:58further up the power law power law. Um
1:01:01it's not a bell curve opportunity. Um
1:01:03however, if someone says, you know, can
1:01:05we meet to talk about some incremental
1:01:07thing? No, that's that's a bell curve,
1:01:09right? That's not going to that's not
1:01:11going to break me out of what I'm doing.
1:01:13So, for most people listening to this,
1:01:14most people are trapped inside a bell
1:01:16curve. You're never going to get out of
1:01:18that bell curve. Every opportunity fits
1:01:20within that bell curve. You're only
1:01:22going to incrementally move to one from
1:01:24one side of the bell curve to the other
1:01:25side of the bell curve, and that's about
1:01:27it. There is no massive upside.
1:01:30If that's you, what you need to be doing
1:01:32is spending a little bit of time talking
1:01:34to people about exponential
1:01:36opportunities, right? And exponential
1:01:38opportunities always involve leverage.
1:01:39That's what creates the exponential
1:01:41shift. Leverage could be fame. Leverage
1:01:43could be capital.
1:01:45Leverage could be large databases.
1:01:47Uh leverage could be huge distribution
1:01:49networks that are already exist.
1:01:51Leverage could be a partnership with
1:01:52someone who's way further along than you
1:01:54are.
1:01:55Uh leverage could be being in business
1:01:56first being in a job. So, all of those
1:01:59things are things that move you onto the
1:02:01power law. And there's it's almost the
1:02:02sky's the limit at the moment because
1:02:05in 2010,
1:02:0728% of the world had fast internet. And
1:02:09in 2025, 70% of the world has fast
1:02:12internet. So, 70% of 8 billion people
1:02:15have got fast internet. So, the world
1:02:18the actual the number of people
1:02:20available to talk to
1:02:22has gone into the billions and billions
1:02:24and billions. The amount of capital is
1:02:26flooding into the internet. Um
1:02:28everything is in that space.
1:02:30And ultimately, unfortunately, one of
1:02:33the things that's happening at the
1:02:33moment is that you're either in
1:02:35competition with everyone in the world
1:02:38or everyone in the world is a is a
1:02:40potential customer.
1:02:41And um if you feel that you're in
1:02:44competition with everyone in the world,
1:02:45which a lot of people do,
1:02:47it's terrifying. It feels horrible. It's
1:02:49it's absolutely uh scary to think that,
1:02:52you know, for a lot of businesses and a
1:02:53lot of individuals with a career, it's
1:02:55like, "Wow, I'm in competition with AI.
1:02:58I'm in competition with an agent uh an
1:03:00agency in India or or a remote worker in
1:03:03the Philippines who's happy for $5 an
1:03:05hour.
1:03:06Um I'm in competition with someone who's
1:03:08phenomenally well funded in LA.
1:03:10Uh I'm in competition with this
1:03:12incredible tech team in Silicon Valley."
1:03:15Mhm.
1:03:16Like YouTubers. YouTubers. I'm competing
1:03:19on the opportunity. I'm competing for
1:03:20attention.
1:03:21Like, how am I going to survive? And
1:03:23then the flip side of that is that once
1:03:25you make this transition to this new
1:03:27rules, new way of doing things,
1:03:29then it flips. It's like, "Oh,
1:03:30everyone's a potential customer." So,
1:03:32how do you think about defense? You
1:03:34know, you many of your businesses that
1:03:36you run, you're in competition with lots
1:03:37of people.
1:03:39Where do you find areas to defend
1:03:41against that competition, the sort of
1:03:42proverbial blue oceans?
1:03:45So, what I'm looking for when when I set
1:03:47up my businesses to scale is we ask the
1:03:49question,
1:03:51"How many people this year
1:03:53could we either
1:03:55uh take on and leave them feeling
1:03:57completely delighted?
1:03:59Uh how many people this year would
1:04:01represent a phenomenally good year?
1:04:02Right? So, in one of the businesses, the
1:04:04number's 600. We say, "Okay, 600 people,
1:04:07if we have 600 people 600 clients in
1:04:10this particular business for this year,
1:04:12that's a really good year. We're happy
1:04:14with that year." So, we call that the
1:04:15official capacity of the business. We
1:04:17give it a name, official capacity is
1:04:19600. Then we ask the question,
1:04:22"What percentage of our leads buy that
1:04:24product?" Mhm. And in that business,
1:04:26it's 1 in 66. So, for every 66 leads we
1:04:29generate, we get one client who's who's
1:04:31the perfect client. So, it's a very
1:04:33particular focus business.
1:04:35So, then we know that we need to engage
1:04:3749,000 people. And if those 49,000
1:04:40people engage with us, then we will be
1:04:42able to select the 600 clients we work
1:04:44with, and that we will absolutely do
1:04:46everything we can to leave those 600
1:04:48people feeling delighted that they want
1:04:50to recommend it and refer it and they
1:04:52love it.
1:04:53And for us, just simply knowing those
1:04:55numbers,
1:04:56that allows us to say, "Ah, okay, we
1:04:58engage 49,000 people. We make our 600
1:05:00sales. It's a super successful year. We
1:05:03can celebrate that." So, by setting the
1:05:05rules to our game, we're not dragged
1:05:07into anybody else's rules. And that
1:05:09means that we're playing uh a really
1:05:11defensive game. We're defending against
1:05:13all the things that we could focus on by
1:05:15being really specific about what we want
1:05:17to focus on. And if you know, for those
1:05:18kids on the promenade in Cape Town that
1:05:20I keep referring back to,
1:05:22if they'd asked you, if they said, uh,
1:05:23"Daniel, what industry would you start a
1:05:27business in today
1:05:29if you were us
1:05:31and you had limited funds?"
1:05:33Well, let let let's do some big trends.
1:05:35The biggest So, biggest opportunity at
1:05:37the moment is 50% of the economy
1:05:41is owned by baby boomers, people aged 61
1:05:44to 79.
1:05:45So, that's 50% of the US economy, 50% of
1:05:48the Australian, the New Zealand, the
1:05:50Canadian, the UK, right? So, all the
1:05:52sort of major Western economies that had
1:05:54a baby boom, 50% of the economy is owned
1:05:57by people aged 61 to 79.
1:06:00Um, so those people are going through a
1:06:02big life change. They're transforming
1:06:04the way they live and work. They want to
1:06:06get rid of their businesses. They want
1:06:08to move into advisory roles. They want
1:06:09to travel. They want to have, uh,
1:06:11different relationships. They want to
1:06:12have different priorities.
1:06:14Um, so I would definitely be thinking
1:06:16about how do I work with that group of
1:06:18people? I'm either going to buy their
1:06:20business and take it over,
1:06:21um, which would be an opportunity. I'm
1:06:23going to build a business that disrupts
1:06:25the current way that they're doing
1:06:26business, um, or I'm going to sell to
1:06:28that market cuz they're cashed up, they
1:06:29got loads of time, loads of money.
1:06:31Um, and every business could think about
1:06:33how it's going to sell to a baby boomer
1:06:35market cuz that's 50%.
1:06:38Um,
1:06:39So, a good example might be
1:06:41of a baby baby boomer business.
1:06:44What's a good baby boomer business?
1:06:46Everything. The whole economy is made up
1:06:48of baby like if we went out on the
1:06:49street here, Yeah. um, the person down
1:06:52the road who's fixing who's doing the
1:06:53MOT on the cars is a baby boomer
1:06:55business. The guy who services the
1:06:57elevators that come up and down here,
1:06:59that's baby boomer. The air conditioning
1:07:00unit business is a baby boomer business.
1:07:03Um, you know, the courier company that
1:07:05kind of dropped everything off, it's a
1:07:06baby boomer business.
1:07:08You know, the whole damn shooting match
1:07:10is like mostly like 50 like half the
1:07:12businesses and especially by revenue and
1:07:14valuation, it's all baby boomers or half
1:07:17baby boomers at least. And then maybe
1:07:19sort of a digital arbitrage opportunity
1:07:21that there's been created with the tran-
1:07:24transfer of
1:07:25with the rise of digital that they might
1:07:27have missed that you could seize upon.
1:07:29It massively
1:07:31Well, one of the things is that every
1:07:33single business in the world is going to
1:07:34be disrupted by AI.
1:07:36And you've got to be the company that
1:07:39uses AI when they're not. And and using
1:07:42AI, like being disrupted by AI just
1:07:45means that every employee is way more
1:07:46effective because they're using AI. So,
1:07:48one of the simple things to disrupt a
1:07:50business with AI is to run a training
1:07:53workshop with all the people in the
1:07:54company about how they could use AI in
1:07:55their role. And you could watch some
1:07:58videos online and you could
1:08:00play with chat GPT. Recently we
1:08:03introduced an AI system to one of
1:08:06our businesses. We have 250 video case
1:08:09studies of clients who are happy
1:08:10customers and they've recorded a video
1:08:12for us.
1:08:13And they're amazing video case studies,
1:08:14but there's too many of them. There's so
1:08:15many video case studies. So, we created
1:08:18an AI bot that reads and understands all
1:08:21of those video case studies
1:08:23and then for my sales team, when they're
1:08:25talking to a customer, they're just
1:08:27typing
1:08:29of they're typing in the type of
1:08:31scenario that that person's going
1:08:33through and the bot is then suggesting,
1:08:35oh, this is the video case study. This
1:08:37is the customer. This is what they said.
1:08:39Same industry as you, same problem, same
1:08:41challenge and then they Here's the link
1:08:43to the video case study. Mhm.
1:08:45So, our sales team can be super
1:08:47effective at sending you through the
1:08:48exact video case study that's relevant
1:08:50to you Mhm.
1:08:51because the AI bot has read and
1:08:53understood every single one of our video
1:08:55case studies.
1:08:56So, that's an example.
1:08:58You know, there's been so many of these
1:08:59technological revolutions over the last
1:09:0250 odd years that I look back on and
1:09:04thought, "Oh gosh, I wish I was there at
1:09:06the dot com boom. I would have become a
1:09:08billionaire. I would have had all, you
1:09:09know, a variety of different ideas." Do
1:09:11you think AI is that now? Do you think
1:09:13we're living through
1:09:14We're We're early. It's so early, right?
1:09:16It's It's the moment.
1:09:18I I remember when Steve Jobs launched
1:09:21the App Store, and that was 2007. 2007,
1:09:242008. It was 2 years later that
1:09:27Instagram was launched. It was 2 years
1:09:29later that Uber was launched. And then
1:09:31there was a march of hundreds of
1:09:32different businesses, and now
1:09:35applications are, you know, everywhere.
1:09:38The The bigger example would be
1:09:40electricity.
1:09:41So, it was the 1830s where we generated
1:09:45electricity, but it wasn't till the
1:09:461930s that we filled our houses full of
1:09:49things that ran on electricity. So, it
1:09:50was a 100-year transition.
1:09:52Um now, with AI, we're at the early
1:09:56stage of generating AI,
1:09:58but we're not yet into the stage of
1:10:01creating everything that runs on AI. So,
1:10:03think about
1:10:04uh a power station versus a toaster.
1:10:07So, the power station's been invented,
1:10:09but there's thousands and thousands and
1:10:11thousands of toasters that can be
1:10:12invented. Toasters, kettles, vacuum
1:10:14cleaners, things that run on
1:10:16electricity. So, AI is like electricity,
1:10:18but we haven't built all the businesses
1:10:20that are going to plug in and are going
1:10:22to be great opportunities. And that's
1:10:24going to be over the next 10 to 15
1:10:25years. Every single industry. You can't
1:10:28name an industry that's not going to be
1:10:29impacted by this. Every industry is
1:10:31going to have applications that run on
1:10:33AI. There's going to be new teams. Do
1:10:35you know what happened just a couple of
1:10:37weeks ago? Uh Nvidia launched a
1:10:39supercomputer for $3,000.
1:10:42Now, this is going to be the fundamental
1:10:44basis
1:10:46for 10 people companies that do a
1:10:48billion of revenue. This is going to be
1:10:50entrepreneurs who who like crunch some
1:10:53data, figure out a little application.
1:10:55Because of that kind of compute power,
1:10:57they're going to come up with something
1:10:58and it's going to be a billion-dollar
1:10:59business with 10 people working on the
1:11:00team. There's going to be a little
1:11:01health care unit that figures out how to
1:11:03crunch data and solve a like a really
1:11:06complex health problem and they'll
1:11:07figure out how to do it. That
1:11:09supercomputer for three grand
1:11:12supersedes what people used to be
1:11:13spending three to six to nine grand a
1:11:15month on. Um so previously, you would
1:11:18have had to subscribe to that level of
1:11:20compute and you would have been
1:11:21spending, you know, $50,000 a year just
1:11:24for the cloud subscription to that sort
1:11:26of thing. Now, one payment of $3,000,
1:11:28you can be anywhere in the world
1:11:30crunching any amounts of phenomenal
1:11:32data. So,
1:11:34just that one thing, that one
1:11:35innovation, is going to totally
1:11:37transform
1:11:38industries.
1:11:40I would imagine that I'm going to guess
1:11:4290
1:11:4495% of people that are listening right
1:11:46now don't know a lot about AI. They also
1:11:49don't really know a lot about technology
1:11:51to the extent that many other people do,
1:11:52the 5% do.
1:11:54For those people who are, you know,
1:11:55could be the taxi driver, it could be
1:11:57the
1:11:58the janitor, it could be student in
1:12:00university studying philosophy or
1:12:02something.
1:12:03What advice would you give them if you
1:12:05were the puppet master of their life now
1:12:07and you had to get them close to this
1:12:09opportunity? What are the the sort of
1:12:10steps you take towards
1:12:12being able to capitalize on something
1:12:14like Nvidia's supercomputer? Yes. So, of
1:12:16course it's a pyramid. So, the schooling
1:12:18system taught you that you the way to be
1:12:21successful was to turn labor into
1:12:22skilled labor. So, become skilled labor.
1:12:25Your time and your skills are what's
1:12:27valuable. And that was the industrial
1:12:28revolution model for everybody. We all
1:12:30went through that system and we said
1:12:31that's where the journey ends. In fact,
1:12:33if you want, you can go to university,
1:12:34become really skilled labor. You can get
1:12:36a master's and become really skilled
1:12:37labor, PhD, become super skilled labor.
1:12:40And the whole goal is sell your time for
1:12:42more money. And then sitting on top of
1:12:43that is this new universe. And the new
1:12:45universe is this digital economy. And
1:12:47the first step above it is called
1:12:49intellectual property.
1:12:51Intellectual property is where, rather
1:12:53than learning more stuff, you reflect
1:12:55and create some stuff. So, you say, "Oh,
1:12:58over the last 5 years, I did something
1:13:00special with that client, um and we got
1:13:02a great result, and I can explain it
1:13:04step by step. I'm going to document
1:13:05that. I'm going to turn that into a
1:13:06story, and I'm going to record a video
1:13:09about it, and I'm going to have a little
1:13:10poster with a wheel that explains how we
1:13:12did that, and then I'm just going to let
1:13:14people know about that. So, now we're in
1:13:16the business of intellectual property.
1:13:18Intellectual property is anything
1:13:20written, anything on video, anything
1:13:21audio, right? So, intellectual property
1:13:23couples up with media. So, IP and media
1:13:26are the next level above skilled labor.
1:13:28So, the first step, get out of skilled
1:13:30labor model, and get into intellectual
1:13:32property and media. And just making that
1:13:35step opens you up to this whole other
1:13:37world of opportunities.
1:13:39Uh if you you you must know the book
1:13:41Seven Habits of Highly Effective People,
1:13:42Stephen Covey. He passed away 10 years
1:13:44ago.
1:13:46He was not some special guy. He was a
1:13:49church leader in Utah. He did some
1:13:51consulting with small businesses, and he
1:13:53did some consulting with churches.
1:13:55But he just reflected on what he'd seen,
1:13:58and he reflected on a few studies that
1:14:00he'd come across, and he wrote this book
1:14:02Seven Habits of Highly Effective People.
1:14:04So, he went from skilled labor
1:14:06consulting to intellectual property and
1:14:08media, which was his written word plus
1:14:10his book publishing. So, that's step
1:14:13one, and mind you, he sold 20 million
1:14:15copies, and he built a $400 million
1:14:16consulting company, but it was based on
1:14:18IP, not labor.
1:14:20So, that's step one. Sitting above that
1:14:23is data and um
1:14:25intellectual property, media, and data,
1:14:27and software. So, once we have IP and
1:14:31media, now we want data and software.
1:14:33So, data is where we build a database,
1:14:37we get email addresses, we get
1:14:38information about customers, we know
1:14:40more about markets, we get people
1:14:42filling in forms, we get people filling
1:14:44in score cards, we start conducting
1:14:46surveys. So, we're capturing data that's
1:14:49unique to us. And then software is the
1:14:52ability to turn our intellectual
1:14:53property into an engine that just
1:14:55automatically delivers a a result. And
1:14:58in that software bucket is the ability
1:15:00to create AI applications.
1:15:03Um so, you're going to have to move your
1:15:04way up that pyramid. And then the final
1:15:06little top of the pyramid is um the
1:15:09ability to create financial assets.
1:15:11Financial assets is where you sell your
1:15:12business for an amount of money. So, you
1:15:14actually package all of that into a
1:15:16business that can be sold. And that
1:15:18business becomes a financial asset. The
1:15:19shares become a financial asset. And
1:15:21then you make a lot of money by selling
1:15:23your company.
1:15:24So, you can't jump straight from being
1:15:26labor or skilled labor straight up to
1:15:28software and data
1:15:30uh and those sorts of things, which is
1:15:31the AI advanced AI stuff. So, you got to
1:15:34go through
1:15:36uh intellectual property, media, data,
1:15:38software. And what you do with your
1:15:40money? So, everyone has a different sort
1:15:42of finance strategy or an investment
1:15:44strategy. What's your investment
1:15:45strategy?
1:15:47Uh I've said to you before that I
1:15:50like I really trust the advice that you
1:15:53can't outperform markets. Markets are
1:15:55everything's already priced into
1:15:56markets. So, for me personally, like I
1:15:59put money into S&P 500. I put it
1:16:02you know, basically things that you'd
1:16:04call a store of wealth.
1:16:06Um
1:16:07I don't think that's particularly
1:16:08exciting. I I'm not
1:16:11you know, some of sometimes I see people
1:16:13talking about like oh, what should
1:16:14someone do if they're earning 50 grand a
1:16:15year to invest?
1:16:17Honestly, it's not going to do anything.
1:16:18Like you you're you're just like
1:16:20obviously do it.
1:16:22But
1:16:23I believe it's far better to take that
1:16:25money and invest it into your key
1:16:27relationships.
1:16:28Um I think it's better to take that
1:16:29money and put it into a startup. Uh like
1:16:32actually you know, buy yourself some
1:16:33time so you can you know, move in what
1:16:35would move into this new economy.
1:16:38Um the thing that excites me most is
1:16:41just creating really valuable
1:16:43businesses. Um I have a group of
1:16:45companies now.
1:16:47Um and
1:16:49let let me explain
1:16:51Here's an idea. The economy doesn't want
1:16:54you to become rich, right? Doesn't want
1:16:55you to accumulate money, right? The
1:16:57whole economy is set up so that you
1:16:58can't get money
1:16:59or you can't keep it.
1:17:01Um
1:17:02and what people think you do to make
1:17:04money is that they think that you take a
1:17:06little piece out of the economy and
1:17:08squirrel it away and store it up. And
1:17:10that's not actually how people become
1:17:12rich.
1:17:13What they do is they create something
1:17:14from their mind and they formalize it
1:17:16into a company and then they get people
1:17:18to invest in that company and that
1:17:20creates new wealth in the economy that
1:17:22didn't exist, never existed. It was a
1:17:24figment of their imagination. And that
1:17:26new wealth, we call that innovation and
1:17:28entrepreneurship.
1:17:29And what happens, and I'll give you a
1:17:31real-life example.
1:17:32So
1:17:34Book Magic is one of my software
1:17:36startups. We raised 400,000 pounds for
1:17:3910%, which means 3.6 million pounds
1:17:42worth of value is new value that never
1:17:44existed. It's just added to the economy.
1:17:46It's this new economic asset called
1:17:47shares in this company. 10% of the
1:17:49shares were 400,000. 3.6 million is the
1:17:53other 90% that doesn't actually exist.
1:17:54It was just a figment of the
1:17:56imagination. So it's it's called
1:17:58innovation and entrepreneurship. Very
1:18:00slowly, that becomes more and more real.
1:18:03And then bigger companies come in and
1:18:05acquire that or people acquire those
1:18:06shares and then it becomes a liquidity
1:18:08event. You get capital.
1:18:10And then you reinvest that capital into
1:18:12creating new things in the economy. So
1:18:14the way rich people become rich is not
1:18:16by squirreling little bits out of the
1:18:18existing economy. It's by creating
1:18:20something new that never existed and
1:18:22slowly introducing that into the
1:18:24economy, right? So it's it's building
1:18:26things that didn't happen exist. So when
1:18:29I hear people trying to
1:18:31you know, get this tiny little bit out
1:18:32of the economy and then they've got to
1:18:34pay taxes on it and then you know, the
1:18:35the UK government wants half of
1:18:37everything and it's it's horrific. You
1:18:39You never like you will just be on this
1:18:41treadmill. You'll never get out of it.
1:18:43But if you can create something and you
1:18:45can have innovation and
1:18:46entrepreneurship, you can build
1:18:47something that's worth 5 million, 10
1:18:49million, 20 million from your mind, from
1:18:52your brain.
1:18:54And then you introduce it and formalize
1:18:55it and it goes into the economy and it's
1:18:57actually a new asset in the economy. And
1:18:59what is the horror that we need to warn
1:19:00people about if they decide to do what
1:19:02you just said?
1:19:03Cuz everything in life has a cost. So,
1:19:06getting me starting a 20 million-dollar
1:19:07company comes with I meet so many
1:19:09founders. I had one in the office
1:19:10yesterday. Um
1:19:11great founder from the UK, young young
1:19:13lady. She's done exceptionally well.
1:19:16She's built a company that I think is
1:19:17going to make 35 million
1:19:18and um she's going through a
1:19:20horrific time.
1:19:22And it came out of her brain. Yeah, the
1:19:25biggest horror is that we were never
1:19:26trained for this. Right. So, all of
1:19:29society is built for the industrial
1:19:31revolution system and it's not built for
1:19:34the um digital revolution system. So,
1:19:38you know, we were told don't be
1:19:39disruptive and yet the disruptors are
1:19:42making all the money. We were told, you
1:19:43know, you can't ask someone
1:19:47to do your homework for you, yet the
1:19:48people who make all the money get
1:19:49someone else to do all their homework
1:19:50for them. We were told um you know,
1:19:55you know, don't be an attention seeker,
1:19:57but attention seekers make all the
1:19:59money. So, there's all of this stuff
1:20:01that we were taught about becoming
1:20:02standardized component labor
1:20:04and that that mindset is always fighting
1:20:07you when you're running a business
1:20:09because over here running a new business
1:20:12it's exciting, it's exhilarating, it's
1:20:14creative, but it feels wrong. Feels like
1:20:16you're doing something like weird
1:20:17because you're outside of the system.
1:20:20Um
1:20:21Yeah, there's no blueprint. There's no
1:20:22clear blueprint that anybody trained you
1:20:24for. Yeah, you didn't certainly didn't
1:20:25know at schooling. So, in fact,
1:20:26schooling system taught you everything
1:20:28wrong. It's the opposite. They wanted
1:20:30you to become standardized component
1:20:32labor and over here you have to be
1:20:33unique intellectual property. Mhm.
1:20:36You're also dealing with platforms that
1:20:37are brand new. Yeah.
1:20:38And and a and also just like a social
1:20:41environment that is brand new. I say
1:20:42that because obviously post-pandemic the
1:20:43rules of work changed.
1:20:45Completely. And the Zoom and technology
1:20:47geography to ideal customer personas in
1:20:50communities. Um so all of our entire
1:20:52economy, in fact, if you think about our
1:20:54governments, our governments are
1:20:56struggling because they define
1:20:57themselves by geography, but the digital
1:20:59world's not defined by geography. So
1:21:01when the government of the UK says,
1:21:02"We're putting up the taxes." All the
1:21:04millionaires go, "Okay, we'll leave."
1:21:07And then they're like, "Oh, no." I mean,
1:21:09Norway did this as well, right? All
1:21:10these multi-billionaires just packed up
1:21:12and left. "Oh, we're introducing a
1:21:13wealth tax." "Okay, bye."
1:21:15You you've commented a lot on this over
1:21:16the last couple of months. What is your
1:21:18position on this? Cuz there's been a lot
1:21:20There's lots going on geopolitically.
1:21:21The UK changed the tax system. US, what,
1:21:24Trump coming in and yeah.
1:21:26Yeah. I mean, he'll be in by the time
1:21:27this podcast is out probably, but Well,
1:21:29my position is that we should collect
1:21:30the most amount of taxes that we can,
1:21:32but the way to do that is with low
1:21:34taxes, not high taxes. Because in a
1:21:36world where people can freely move
1:21:37around, you need to be an attractive
1:21:39place for people to come to.
1:21:41Um
1:21:42you know, people say, "Oh, we don't you
1:21:43know, we don't like rich people." Well,
1:21:45actually rich people pay a lot of taxes.
1:21:471% pay 30%.
1:21:49Uh so you need if you wanted to double
1:21:50the tax base,
1:21:52get a few more of these 1% people to to
1:21:54come here. The UK was thriving when we
1:21:57used to have
1:21:59uh a 10 million dollar SEIS uh or sorry,
1:22:0110 million entrepreneurs 10 million
1:22:03pound entrepreneurs relief. Um
1:22:05you know, made the UK one of the best
1:22:07places to do business. Sorry, just for
1:22:09people that have never experienced
1:22:10entrepreneurs relief. Yeah. Can you
1:22:12explain exactly what that who that
1:22:14impacts and when? Yeah, so essentially
1:22:16entrepreneurs relief acknowledged that
1:22:18entrepreneurs are taking a huge gamble
1:22:20in what they do. They're pouring time,
1:22:23effort, and energy, and resources into
1:22:24their business in an unpaid capacity.
1:22:27And that when they finally get a
1:22:28success, if they get a success,
1:22:30then one of the ways of of acknowledging
1:22:33that risk and making that a good
1:22:34decision is that you only pay 10% tax on
1:22:37the first
1:22:39well, it used to be 10 million um of
1:22:42exit value.
1:22:43Um and
1:22:45now it's on the first 1 million of exit
1:22:47value. So, essentially,
1:22:50if you're paying roughly the same as
1:22:52income tax on starting a company, then
1:22:56for a lot of people, they're just not
1:22:57going to start a company, right? They're
1:22:59not going to take the risk, they're not
1:23:00going to innovate.
1:23:01Um and then the investment also slows
1:23:03down. If people can earn more money by
1:23:04just sitting on their capital and
1:23:06sticking it into a property, they're not
1:23:08going to invest in startups. So, you
1:23:10have to have if you want an economy
1:23:12that's based on actual innovation and
1:23:14change and transformation and AI and
1:23:16software and data and the new economy,
1:23:18you have to incentivize investors to to
1:23:20to do that.
1:23:21Um it's also a globally competitive
1:23:23landscape. So, as
1:23:26you know, Dubai saying, "Hey, we don't
1:23:28even do income tax." Right? And also,
1:23:30when you go to Dubai, tax feels like
1:23:32such a scam because you go, "Wait a
1:23:35second, their police force, their
1:23:36hospitals work, everything's clean,
1:23:38they've got no potholes, their buildings
1:23:39are amazing, No crime. no crime,
1:23:42uh the transport's working, like the
1:23:44whole place is working like clockwork."
1:23:46You go, "But how are they doing this
1:23:47without collecting 45% of the economy as
1:23:50tax?" In the UK, 45%
1:23:53of the entire economy is government
1:23:54spending. Are people leaving the UK?
1:23:5610,000 millionaires left last year. So,
1:23:58when I think about all the really
1:23:59exceptional people that I hired over the
1:24:01last 10, 15 years, every single one of
1:24:03the the truly exceptional ones that I
1:24:05go, "All right, I bet a lot on that
1:24:06person." They all live in Dubai. Mhm.
1:24:08They've all gone. Some of them have
1:24:09moved to America, some of them are
1:24:10working in SF. Well, even America, which
1:24:12is high tax, but you start paying the
1:24:15highest rate of tax at eight times the
1:24:17average wage. Here, you pay the highest
1:24:19rate of tax at three times the average
1:24:20wage. Yeah. So, they they're not letting
1:24:24anyone get ahead. Now, the other day, uh
1:24:27Keir Starmer says, "We want to be
1:24:29leaders in AI."
1:24:30Well, unfortunately, we have the most
1:24:32expensive electricity, so you can't run
1:24:33data centers here.
1:24:35Uh and we also have the highest tax
1:24:36rates, so highly skilled, highly
1:24:38talented people do not want to be here.
1:24:40And I hate to say it, everyone's like,
1:24:41"Oh, you know, we need to tax the rich."
1:24:43Sorry, they can leave. They they really
1:24:45can. And in this digital economy, with a
1:24:47personal brand, with data, with
1:24:49software, with media assets, those
1:24:51assets pick up on a phone. Like, you
1:24:53literally leave with your phone and
1:24:55you're fine. I you saw this narrative
1:24:57playing out over the last year, and I'm
1:24:59a skeptic. I'm also like politically
1:25:01apolitical.
1:25:01Yeah, same. I'm So,
1:25:02I'm neutral. I don't have a team. I I
1:25:04look at these narratives playing out and
1:25:06I try and figure out if it's a certain
1:25:07person has an agenda, they're trying to
1:25:09push a narrative because they're rich
1:25:10and they want the tax lower, or if
1:25:12another person on the other side has an
1:25:13agenda because they want to tax the rich
1:25:15more. And where I ended up landing,
1:25:18purely based on what I saw in my life
1:25:19with um
1:25:21rich people around me and the decisions
1:25:23they started to make is a lot of the
1:25:25most successful people that if I was
1:25:26Keir Starmer, I'd want to keep in this
1:25:28country, especially the ones that don't
1:25:30have the mortgage yet and the family,
1:25:32they are off. They're off, yeah. They
1:25:33are they are going. And then the stats
1:25:35came out, which I think recently said
1:25:36that about 10,000 we've had like an
1:25:38exodus of these people. And I know I
1:25:41know it's triggering for some people
1:25:42because they hate rich people
1:25:43and they they just think that rich
1:25:45people should just
1:25:46um but uh if you are truly, I think, in
1:25:49the middle, you do come to understand to
1:25:51some degree that the backbone of our
1:25:53economy is entrepreneurship, small
1:25:56businesses,
1:25:57with AI and technology becoming an even
1:25:59greater part of our economy, there's a
1:26:01certain type of entrepreneur that's
1:26:02likely to build and succeed in AI that
1:26:03we really need to keep. And they
1:26:06we are competing geographically with San
1:26:08Francisco, Dubai, Abu Dhabi.
1:26:09We we absolutely are. The other reason
1:26:11The other thing people think that rich
1:26:13people are taking money out of the
1:26:14economy, and the opposite is happening.
1:26:16They're creating wealth that pumps into
1:26:18the economy, and they're creating it
1:26:19from figments of their imagination.
1:26:21They're building things that didn't
1:26:22exist that come into the economy as new
1:26:24wealth.
1:26:25If we were living Now, mind you, that's
1:26:27not all millionaires. Some millionaires
1:26:29are horrible landlords who make their
1:26:31money by bullying people. Uh if you live
1:26:34in certain locations, the only
1:26:35millionaires you've met are probably
1:26:37uh slum landlords or something like
1:26:39that. That's not who we're talking
1:26:40about. We're not talking about people
1:26:42who are rent seekers or people who, you
1:26:44know, kind of bully people around or any
1:26:46of that sort of stuff. Talking about
1:26:47wealth creators, uh people who are
1:26:50coming up with new intellectual property
1:26:51and bringing it into the economy to
1:26:53create jobs and wealth and investments,
1:26:55and they make the world go round.
1:26:57One of the reasons we have wealth
1:26:58inequality is not what's being talked
1:27:00about. Wealth inequality is because of
1:27:02technology and technology adoption. So,
1:27:05I want you to imagine that we've got two
1:27:07people who are racing each other in a
1:27:08marathon. One person is running, and one
1:27:11person's on a bicycle. So, they've got
1:27:12technology that they're leveraging. The
1:27:14person on the bicycle is going to be
1:27:16powering ahead effortlessly. And it's
1:27:19going to look like a very unfair thing,
1:27:21and you say, "Well, this person works
1:27:22just as hard as this person. Why are
1:27:24they getting ahead a lot faster?" Cuz
1:27:26this one on the cycle is leveraging
1:27:28technology, and this person's not
1:27:29leveraging technology.
1:27:31When we go through these great shifts,
1:27:33we actually get people who are stuck in
1:27:35the old system and people who are in the
1:27:36new system. Charles Dickens wrote about
1:27:38this in the early Industrial Revolution.
1:27:41There were all of these kids that were
1:27:43on the street, right? Oliver Twist.
1:27:45And there was this huge wealth
1:27:47inequality as some people were
1:27:48industrialists, and some people were
1:27:51still in the feudal system in the
1:27:52agricultural age. Some people's income
1:27:54was linked to capitalism. Some people's
1:27:56link
1:27:57income was linked to feudalism. Um so,
1:28:00in the same way that that was happening
1:28:02then, we're going to see a very similar
1:28:04Dickens I mean, he had that famous book
1:28:06called The Tale of Two Cities. It was
1:28:07the best of times, it was the worst of
1:28:09times was the opening line. We're going
1:28:11to have the same thing now. It was the
1:28:13best of times, it was the worst of times
1:28:15because we're going to have some people
1:28:17who are leveraging technology
1:28:19uh and they live a life of fun, freedom,
1:28:21fulfillment, financial success, and we
1:28:23have some people who are stuck in the
1:28:24industrial age who sit there and say, "I
1:28:26work as hard as I possibly can and I
1:28:28cannot get ahead. I'm falling behind
1:28:30year after year after year." And it's
1:28:32because we have two systems operating in
1:28:33parallel.
1:28:35Okay, so the people that would count to
1:28:36you now uh when you talk about, you
1:28:38know, the idea that these individuals
1:28:40that are leaving are wealth creators.
1:28:42Um
1:28:43what is the counterpoint that is that is
1:28:47you know, does make sense?
1:28:49There are some rich people I know that
1:28:50are
1:28:51hoarding a lot of stuff. I mean, they
1:28:53are they're also they do create
1:28:55opportunities for the economy, but they
1:28:57are they're in a hoarding season of
1:28:59life.
1:29:00Just kind of stacking it up. They're not
1:29:01really giving it to many people and
1:29:03they're playing certain money games just
1:29:05to build wealth and not necessarily
1:29:06creating huge economic value.
1:29:09Um
1:29:10So, what we need is nuance and we need
1:29:12the nuance to understand that there are
1:29:14poor people who are who are um rent
1:29:16seekers, who are not productive, who are
1:29:19takers from the economy. There are rich
1:29:21people who are takers from the economy.
1:29:23And there are rich people who are
1:29:25phenomenal wealth creators who create
1:29:27opportunities around them. There are
1:29:28poor people who are phenomenally
1:29:29valuable to the economy. So, if you were
1:29:32to just simply
1:29:33uh make no distinction by just simply
1:29:35the level of wealth or income, it
1:29:37doesn't distinguish between, let's say,
1:29:39a nurse who's on 30,000 and someone
1:29:41who's a drug dealer on 30,000. They're
1:29:43not they they might be economically the
1:29:45same, they're not the same types of
1:29:47people in the economy.
1:29:48So, um what we need to do is have some
1:29:51nuance and understand what is the
1:29:53behaviors that we want to incentivize,
1:29:55what is the behaviors that we want to uh
1:29:56avoid. We want to make it hard to simply
1:30:00stick all of your money in expensive
1:30:02assets and then rent them out. Uh we
1:30:04want to tax that.
1:30:06Uh and we want to make it easy to invest
1:30:08in new economy. We want to We want to
1:30:09make it easy to bring down the prices of
1:30:11things. We want to make it easy to We
1:30:13want to make it easy for wealthy people
1:30:14to invest into startups. Uh, we want to
1:30:16make it easy for people to relocate
1:30:18here. Um, and uh, you know, it's an
1:30:21attractive opportunity to build to build
1:30:22a business here and create jobs here.
1:30:24We've just stuck a 15% tax on top of
1:30:27employing people. So, a lot of
1:30:29entrepreneurs have responded by
1:30:30outsourcing to remote workers. Um, I
1:30:33know plenty of companies that are now
1:30:35hiring people in the Philippines and
1:30:36South Africa because it's 15 but
1:30:38straight off the back all things being
1:30:40equal it's 15% cheaper to hire someone
1:30:43overseas than here. You know, so the
1:30:45government is making the wrong moves.
1:30:46They're just doing the wrong thing.
1:30:48They're making it expensive to hire
1:30:50people here. They're making expensive
1:30:52for talented people to live here and be
1:30:53here. Um, so the economy is going to
1:30:56suffer until they get their head around
1:30:57the fact that we're a globally
1:30:59competitive economy. We have to be
1:31:01globally competitive. That we live in a
1:31:03digital world. It's just going to get
1:31:05worse and worse. Is this in part because
1:31:06the way that the political system is set
1:31:08up is that the the prime minister or the
1:31:10president has four years. So, actually
1:31:12they're quite short-term cuz I'm
1:31:13thinking of Keir Starmer. He's He's
1:31:15saying that he walked into this deficit.
1:31:17And now he it's looks like he's
1:31:18scrambling around for the money. And the
1:31:21long-term play here would be we need to
1:31:23change the schooling system so that in
1:31:2515 years time we've got a lot of AI um,
1:31:28knowledge base in our economy.
1:31:30It's not that. It's just that in the
1:31:32industrial age we created institutions
1:31:34that were appropriate for the industrial
1:31:36age and now they've run to the end and
1:31:38now they're just outdated. Uh, look at
1:31:40the name the UK government. That means
1:31:43it's a geographical border. The London
1:31:45City Council means it's a M25, right?
1:31:48Uh, is is the geography. The the
1:31:50British, you know, uh, the the UK
1:31:53economy. Uh, so
1:31:55anything that is defined by geography
1:31:57already misses the point straight off
1:31:58the bat. It misses the point. And the
1:32:00point is that we live in a a world where
1:32:02you can sell to anyone in the world, you
1:32:05can hire anyone in the world, you can
1:32:07pay anyone in the world,
1:32:09you can build a brand effortlessly from
1:32:11your phone, you can live and work from
1:32:13anywhere, you can create companies super
1:32:16easily. Like all of those things like
1:32:19the fundamental technology has shifted.
1:32:22So, it's like saying, "Oh, how do we
1:32:24change the duke and lord system and the
1:32:26surf surfdom system?" It's like, well,
1:32:29that was for the agricultural age, that
1:32:31was the system that evolved. We're going
1:32:33to need a completely different system
1:32:35because we now have an industrialized
1:32:37economy. So,
1:32:39unfortunately, we're going into a
1:32:41digital
1:32:42world or we're in a digital world and
1:32:44the entire government is set up for the
1:32:46industrial economy. National identity
1:32:48was a massive thing in the industrial
1:32:50age, national currency was a was a very
1:32:52big thing for the industrial age.
1:32:54Um Do you think Trump's going to make
1:32:56good decisions?
1:32:58He's certainly going to be a disruptor.
1:32:59He's going to be an accelerant.
1:33:00Whatever's happening, I think he's going
1:33:02to break things that were going to break
1:33:04and I think he's probably going to bring
1:33:05in some things that
1:33:07you know, emerge as as good things. Um I
1:33:09think we were definitely going in the
1:33:11wrong direction.
1:33:12Um you know, we were becoming you know,
1:33:15governments of the world were becoming
1:33:16very authoritarian for a while there. Um
1:33:18you know, they were really policing
1:33:21different, you know, elements of our
1:33:22lives and speech and those sort of
1:33:24things and uh all of that's going to
1:33:27definitely swing back the other way. The
1:33:28pendulum is already swung back the other
1:33:30way if you saw the Mark Zuckerberg
1:33:32uh announcement the other day.
1:33:34Are you bullish on America? Oh,
1:33:36America's definitely the most bullish
1:33:37place. Yeah. So, so this is goes back to
1:33:39something I said earlier in terms of if
1:33:41I'm an entrepreneur Yeah. and I want to
1:33:42position myself where the opportunity
1:33:44is, where the capital is where the
1:33:45mentality is. Yeah, where where is
1:33:47actually online? So, the the the where
1:33:50is digital.
1:33:51Um you know, you can go to Silicon
1:33:52Valley and you'll see some of the
1:33:53poorest people living next to to of the
1:33:55richest people. So, it's not a
1:33:56geographical thing. It's a mindset. And
1:33:59the mindset is digital versus analog or
1:34:01digital versus geographical.
1:34:04So,
1:34:05but the biggest economy, the winner take
1:34:07all is the US, right? Because the US is
1:34:09in a very unique position. They're
1:34:11energy independent, they're food
1:34:12independent. They've got
1:34:14massive natural geographical borders, so
1:34:17they don't have to police their
1:34:19neighbors. They don't have They have one
1:34:21friendly neighbor at the north called
1:34:22Canada and one
1:34:24neighbor they can work with called
1:34:25Mexico below. Contrast China. I think
1:34:28they've got 17
1:34:30neighbors to manage. So,
1:34:33the US has got clear runways, biggest
1:34:35economy in the world,
1:34:37most technology, most universities, all
1:34:40of that sort of stuff.
1:34:43We take our time when it comes to hiring
1:34:44at Flight Story because I fundamentally
1:34:46believe the success of a business is
1:34:48directly linked to how good you are at
1:34:49hiring. And better hiring starts with
1:34:51smarter insights. LinkedIn, who's a
1:34:53sponsor of this podcast, has some of the
1:34:55strongest hiring data available to help
1:34:57you identify the best candidates for
1:34:58your business. Their platform will even
1:35:01pair you with those who match what
1:35:02you're looking for, which might lie
1:35:04outside of the job description and more
1:35:06in their unique skills and interests.
1:35:09Because these days hiring isn't just
1:35:11about finding the most qualified person,
1:35:13but also finding the one whose
1:35:14experience, abilities, and interests
1:35:16align with your company's mission. And
1:35:18it goes beyond candidates who are
1:35:20applying for jobs, too. In any given
1:35:22week, 171 million members who weren't
1:35:25actively seeking jobs are open to new
1:35:27opportunities. Find your next great hire
1:35:29on LinkedIn and start today by posting
1:35:31your job for free. Just by visiting
1:35:33linkedin.com/doac.
1:35:39So, is there anything else that would be
1:35:40on the list of things that if you were a
1:35:43you know, a 21-year-old Daniel Priestley
1:35:46and you're in 2025,
1:35:48what are the like fundamental moves
1:35:50you'd be making? I can to guess a couple
1:35:51of things. You'd definitely be making
1:35:52content. Yeah. That's for sure. You'd be
1:35:55climbing the podcast pyramid. Yeah.
1:35:57Build more and more leverage and
1:35:58reputation, etc.
1:36:00Are there any other big life
1:36:01big stuff. So, the the big So, the key
1:36:04is the big opportunity is build a
1:36:06personal brand next to an elegant
1:36:07business model. That is That's
1:36:09everything. If you build the personal
1:36:11brand, it doesn't have to be a massive
1:36:13personal brand. If you've got 5 to
1:36:1550,000 followers within a high-value
1:36:17niche, if you're seen as a key person of
1:36:19influence in a high-value niche, that's
1:36:22enough of a personal brand to make seven
1:36:23figures. Uh if you've got an elegant
1:36:25business model, you can sell to anyone
1:36:27in the world. Uh you can communicate
1:36:30your value to anyone in the world.
1:36:32That's some of the stuff with an elegant
1:36:33business model. So, essentially, those
1:36:35are the two pillars. If you're not
1:36:37financially successful or where you want
1:36:39to be at the moment, you want to look at
1:36:41building a personal brand
1:36:43and attaching that personal brand to the
1:36:45right business. Those are the two steps.
1:36:47So, ultimately, if you said if I was 21,
1:36:51I'm trying to build my personal brand.
1:36:52I'm trying to attach that brand to a to
1:36:54a great business. That's the key to
1:36:56capital. It's the key to talent. It's
1:36:58the key to customers. So, it's that
1:37:00personal brand on a scalable business.
1:37:02You look at every single person who's
1:37:04who's succeeding right now, they're
1:37:06focused on just those two things.
1:37:08Why don't people do that? When you when
1:37:10they hear you say all of that, why is it
1:37:12that they then don't do it? And it Those
1:37:14people agree. So, they're sat at home
1:37:15now. They go, "Yeah, I get it. I believe
1:37:17The foundations you laid are perfect.
1:37:19Makes sense." And they still don't.
1:37:21I'll tell you why.
1:37:22Years ago, I went to Bali.
1:37:25And I saw this massive mountain on the
1:37:27horizon.
1:37:28And uh we decided that we were going to
1:37:30book a uh a trip to climb it. And uh
1:37:33it's called Mount uh Mount Agung.
1:37:36So, they wake us up at midnight, and we
1:37:38get in a bus, and we have to go to the
1:37:40mountain at midnight and climb through
1:37:42the night, all right? It's crazy. And
1:37:44so, from 1:00 in the morning,
1:37:47all through the night we got this tiny
1:37:48little headlamp on and we're climbing
1:37:50and we're scratching and we're like
1:37:51going up the side of the mountain.
1:37:54And finally we get up there about 6:00
1:37:56a.m. and I'm like, I didn't even realize
1:37:58why we were climbing through the night.
1:37:59Like it hadn't even occurred to me why
1:38:00would we be doing it like this? And then
1:38:02finally we get up the top and I realize,
1:38:05oh, this is why we're doing it at 6:00
1:38:06a.m. cuz the sun comes up at 6:00 a.m.
1:38:08So we get to the top of the mountain and
1:38:09the sun comes up and it's like glorious.
1:38:11The air is thin, it's crisp, it's just
1:38:14incredible. And it's cold, right? Which
1:38:16is rare in Bali. And then the sun lights
1:38:18up Bali and I can see all of Bali and
1:38:21all of the glimmering sea and it was
1:38:22just beautiful. I'm standing there and
1:38:23I'm just loving it, taking it in and we
1:38:26put eggs in the uh hole and the volcano
1:38:28steam cooks the eggs.
1:38:31And then I look onto the horizon and
1:38:33there's this thing called Mount Rinjani.
1:38:35I say to the guide, "What's that
1:38:36mountain over there?" He goes, "Oh,
1:38:37that's Mount Rinjani." I go, "Oh, is
1:38:39that on the island of Bali?" He goes,
1:38:41"No, no, that's on a different island."
1:38:42I go, "Oh, how do you get there?" "You
1:38:44got to catch a ferry." "How many days
1:38:45does it take?" "Oh, you've got to go for
1:38:463 days." "How long does it take to
1:38:48climb?" "Oh, it takes about this much
1:38:49time." "Is it higher or lower or blah
1:38:51blah blah?" "How much is it? Can I book
1:38:53through you?"
1:38:54And he says,
1:38:55"Mr. Daniel,
1:38:57you need to appreciate the mountain
1:38:58you're standing on right now."
1:39:02Puts his arm around me. "You need to
1:39:03learn to appreciate the mountain you're
1:39:05already standing on."
1:39:06So when I was standing on that mountain,
1:39:08I could see everything but the mountain,
1:39:10right? I'm looking around the horizon,
1:39:11I'm seeing all this, I'm seeing the
1:39:12mountain on the her thing,
1:39:14but I couldn't see the mountain that I
1:39:15was already standing on cuz I was too
1:39:17close to it.
1:39:18So the biggest thing that people
1:39:21miss in today's world is that they're
1:39:23already standing on a mountain of value.
1:39:25They've already got so much value, but
1:39:27they're so distracted by the mountain on
1:39:29the horizon. They go, "Oh, Steven
1:39:30Bartlett, he's already so much further
1:39:31ahead. He's creating He creates
1:39:33podcasts. I could never do that." Right?
1:39:35Or they go, "Oh, uh you know, I saw this
1:39:38person who's really good in my industry
1:39:39and they wrote a book and I could never
1:39:40write like that." Or, you know, you
1:39:43know,
1:39:43you know, I don't know if I've got
1:39:44anything of value to share. Some people
1:39:46have floated a company for a billion
1:39:47dollars, and I I'm only, you know, I've
1:39:49only just started, right? What am I
1:39:50going to share?
1:39:52And what they miss is that every single
1:39:54person, your story is relevant, your
1:39:57background is relevant. Uh the people
1:39:59that you know is part of the mountain of
1:40:01value.
1:40:02You know, the your relatability is part
1:40:04of the mountain of value. You're losing
1:40:06your relatability because as you go so
1:40:08high, people just starting out, can't
1:40:10even how to get there. So, someone in
1:40:12the middle is going to take a place
1:40:14that you previously occupied because
1:40:16they're more relatable. They're only two
1:40:18steps ahead, not 20 steps ahead.
1:40:20So, every single person has this
1:40:22mountain of value, but the biggest thing
1:40:24at the moment is the distraction of all
1:40:26the other stuff, and you're so close to
1:40:28your own mountain of value you can't see
1:40:29it. So,
1:40:30the first thing I love to do is just put
1:40:32my arm around people and say,
1:40:34please learn to appreciate the mountain
1:40:36you're already standing on.
1:40:38It's so true. And um yeah, so I was just
1:40:41talking to someone before you came in
1:40:43about my my girlfriend. She's a breath
1:40:45work practitioner, has a studio, she's
1:40:46got her own studio, bali breath work.com
1:40:48if anyone wants to go to her retreats.
1:40:49And she um hashtag ad, I guess. Um and
1:40:52she
1:40:53was spending a lot of time talking about
1:40:55making Instagram videos again. And in
1:40:56fact, I think a year, two years passes
1:40:58and she's talking about it, and she's
1:41:00going to buy she buys a camera and buys
1:41:01another camera and buys another camera,
1:41:02etc., as we all do.
1:41:04And um I realized that eventually the
1:41:06reason why she wasn't starting is she
1:41:07was so
1:41:09I think a little bit too focused on
1:41:12how it might perform, that first video
1:41:14she dropped, that she never dropped the
1:41:16video. And I was reading um
1:41:18reading a book over the Christmas break.
1:41:21I think it was The Courage to Be
1:41:22Disliked. And it talks about the
1:41:24possibility gap, something like the
1:41:26possibility gap, where it's the gap when
1:41:28you say you announce your intention
1:41:32and before you do it. And you can live
1:41:33in this gap because there's There's no
1:41:35evidence to prove you can't yet. There's
1:41:37been no evidence to prove that you're
1:41:38actually not good at violin, or you're
1:41:40not good at DJing. So, you can live in
1:41:41this gap for a long time. It's like the
1:41:43world the realm of possibility. You've
1:41:44announced it, people are now giving you
1:41:46credit for it, and there's been no
1:41:47evidence to prove you can't do it. And
1:41:49one of the things that actually got her
1:41:50posting over Christmas was when I I said
1:41:51to her, "Instead of like trying to make
1:41:53good videos, let's make the objective
1:41:55get to video 1,000."
1:41:57She's She's posted every day since.
1:41:59She's posted
1:42:0030-odd videos on her Instagram since
1:42:02then.
1:42:02She changed the goal. The minute she the
1:42:04goal became let's get to video 1,000,
1:42:07she was off to the races. The other
1:42:09thing that happens is in an exponential
1:42:11world, in an exponential curve,
1:42:13every double eclipses everything that
1:42:15came before it. And when you go through
1:42:17a doubling speed, you're doubling and
1:42:19doubling and doubling. Each double is
1:42:21worth everything before. So, imagine
1:42:22this. We put one grain of rice on a
1:42:24chessboard,
1:42:26then two, then four, then eight. Eight
1:42:29is bigger than seven that came before,
1:42:31then 16, which is bigger than 15 that
1:42:33came before that.
1:42:35Right? And it goes like this. So, every
1:42:36double eclipses everything that came
1:42:38before. So,
1:42:40in an exponential world, just those
1:42:42first 1,000 videos is it it you might
1:42:45only get,
1:42:46you know, 10,000 followers, right? It
1:42:49might be small, but then you get a
1:42:50breakthrough, and then in that
1:42:52breakthrough, you get more than 10,000
1:42:53followers from that breakthrough. But it
1:42:54was all of that that led to that. It's
1:42:56exactly what happened to me. Almost to
1:42:58the number.
1:42:58And to me.
1:42:59The The really important part there for
1:43:01me as well is just to to go for 10 years
1:43:03at anything, you are going to need to
1:43:05really love the thing. And so,
1:43:07as much as we talk about strategies and
1:43:08tactics and waitlists and all these
1:43:09things, the overarching thing of how do
1:43:11we get to consistency so we can start to
1:43:13compound is a consequence of love and
1:43:16passion and And repetition. This is what
1:43:19we're talking about, repetition. How
1:43:20many times has Adele sung Set Fire to
1:43:22the Rain? How many times has Ed Sheeran
1:43:23done Castle on the Hill? Uh how many
1:43:25times have Metallica done Master of
1:43:27Puppets? So, like all of the greatest
1:43:30that you um
1:43:32that you admire, they all do repetition
1:43:34and it's perfect reps. They do it over
1:43:37and over and over again. No one's
1:43:38talking about this. Some of the biggest,
1:43:40most successful businesses, WD-40. WD-40
1:43:44was the 40th attempt to create a spray
1:43:46that would
1:43:47do that thing that WD-40 does.
1:43:49And then for the last 50 years, they've
1:43:51just been selling WD-40. It's their one
1:43:53product and they just sell it in a small
1:43:55can or a big can. Um Tabasco sauce, it's
1:43:58a 150-year-old business and they just
1:44:00sell Tabasco, but every house in the
1:44:01world has Tabasco sauce. Fender
1:44:03Stratocaster guitars, they figured it
1:44:05out in 1950s and they have made that
1:44:07same guitar ever since. Porsche 911,
1:44:09they've barely changed it, but Porsche
1:44:12911 is the most successful sports car
1:44:14because they just get good at doing
1:44:15Porsche 911s. Um you know, I love Swiss
1:44:18Army knives, Rolex watches. They are all
1:44:21businesses where they figure out what to
1:44:23do and then they just fall in love with
1:44:24the repetitions. They just do it and do
1:44:25it and do it and do it. And you've done
1:44:27400 episodes of the show, I think. Um
1:44:30you know, and the first 100 Is that
1:44:32true?
1:44:33Uh 421. 421.
1:44:35So you've done 421 episodes of the show.
1:44:37I would almost
1:44:39guess that the last 21 probably eclipse
1:44:42the first 100. Um To say the least. To
1:44:45say the least, right? In fact, when I
1:44:48was on the show
1:44:49uh last time, you just crossed 5 million
1:44:52subscribers. I think you're coming up on
1:44:5310 million. Yeah, we did um 500,000 in
1:44:56December. So this is called doubling
1:44:58speed.
1:44:59Yeah, it's man man so You doubling and
1:45:01doubling and doubling. What will blow
1:45:02your mind is that you'll go from 10
1:45:03million to 20 million in the year ahead.
1:45:06Um so it feels cuz that's exponential
1:45:08growth.
1:45:09What what if you continue to do the
1:45:11reps, you will cross 10 million and in
1:45:14the same speed that you went from five
1:45:16to 10, you'll go from 10 to 20.
1:45:19Uh you'll have 20 million subscribers to
1:45:21the channel.
1:45:22Uh if if if you know, if you continue to
1:45:24do the reps. So when we crank the
1:45:26handle, we go through doubling speeds.
1:45:28And you want to figure out what is the
1:45:31activity that leads to exponential
1:45:33growth, and just do it. Do it again, and
1:45:35fall in love with doing it.
1:45:37It's really that simple. It In many
1:45:39Well, if you're playing the right game,
1:45:40it is.
1:45:41I analyzed your episodes, by the way. Of
1:45:44your last 117 episodes, what percentage
1:45:47were authors?
1:45:49Mhm.
1:45:51I'm going to say it's a high percentage.
1:45:53It's very high. 78%. Okay. 91 out of 117
1:45:58are authors. They've all written books.
1:46:00Yeah, what's interesting is the ones who
1:46:02haven't written books are typically like
1:46:04superstars and like mega mega stars in
1:46:07some other thing.
1:46:08But almost all of your guests have
1:46:10written at least one book. That's 78% of
1:46:13your guests have written a book. Writing
1:46:14a book is a good idea.
1:46:16It is a good idea.
1:46:17And it's a good idea for the un-obvious
1:46:19reasons that most people don't think.
1:46:20It's not necessarily to sell books, cuz
1:46:22you know, I've got a book that sold
1:46:23pretty well, but I I don't think it's
1:46:25going to I don't necessarily think it's
1:46:26made much money. No, it's it's
1:46:28relationships on steroids. It is the
1:46:30ability to have a relation It's a
1:46:31parasocial relationship. It's the
1:46:33ability to have a relationship with an
1:46:34anonymous person on the other side of
1:46:36the planet, where they clock up 7 hours
1:46:39with you in your Literally, what was
1:46:42once inside your head word for word is
1:46:44now inside their head word for word. So,
1:46:46you actually connect at a very deep
1:46:48level with people at scale. So,
1:46:51authors Becoming an author, one thing
1:46:53that I recommend to all the listeners is
1:46:55have a goal to become an author.
1:46:58Even if you haven't done anything yet?
1:47:00You Well, you can document your journey.
1:47:02You can discover that you are standing
1:47:04on a mountain of value. A lot of people
1:47:05think they're not They've not done
1:47:07anything. Um I have had uh I've had
1:47:09people who've written really successful
1:47:12businesses about the passion that they
1:47:14have and the vision that they have.
1:47:15Uh Sorry, really successful books about
1:47:18the passion and vision that they have. I
1:47:19have people who Like, I've got someone
1:47:21who
1:47:22was very successful at selling as a
1:47:24small business selling a corporate
1:47:26contract and they wrote a book about how
1:47:28small businesses can sell to corporates
1:47:31and that was based on maybe eight to 10
1:47:33major contracts that they'd won but then
1:47:35they documented the process and now they
1:47:37have a whole business teaching small
1:47:39businesses to sell to corporates. So
1:47:42like if you've done one little thing
1:47:44that could actually be a massive
1:47:46business bigger than one of our guys
1:47:49Howard Tinter.
1:47:50He ran a successful restaurant and he
1:47:52had a successful process for building
1:47:54his restaurant regulars and people who
1:47:56you know locals who come back and back.
1:47:58And he actually wrote a book it's an
1:48:00Australian term but he says more bums on
1:48:03seats in America would have to be more
1:48:04butts on seats but he wrote the book
1:48:06called more bums on seats gave it out to
1:48:08a thousand restaurants and said here's
1:48:10how I built my restaurant and then ended
1:48:12up building a massive coaching and
1:48:14consulting business teaching restaurants
1:48:15how to do their sales and marketing. So
1:48:18he had one little restaurant
1:48:20and then he turned it into a a big
1:48:22thing. Gabriella who I mentioned before
1:48:25she helped some couples get pregnant
1:48:28through her fertility interventions and
1:48:30then she wrote a book called fertility
1:48:31breakthrough and now she gives away
1:48:334,000 copies a year and her business is
1:48:35massive.
1:48:37On that point of sales are there any
1:48:39frameworks for sales that you advise or
1:48:42give to entrepreneurs when they try cuz
1:48:43on stage a lot of people ask me this
1:48:45they say things like this I'm trying to
1:48:46sell to a customer or I'm trying to sell
1:48:49to the CEO of this company some idea
1:48:51that I have to change the company or I'm
1:48:53trying to sell downwards as a leader. Is
1:48:55there a framework for selling? Well you
1:48:56want to productize your sales and what
1:48:58you want to do is productize the demo
1:49:00and the customer needs analysis and give
1:49:02it a name so that it feels like a
1:49:04product and it doesn't feel like a sale
1:49:06it feels like a product so that you feel
1:49:09that you're getting something of value
1:49:11by seeing the demo and doing the
1:49:12customer needs analysis. That's one of
1:49:13the first things. So break that down for
1:49:15me so when you say the word demo So, the
1:49:17demo is explaining the value of what you
1:49:19do. So, you want to craft a demo.
1:49:22Crafting a demo is like you want to be
1:49:25able to do the features, advantages,
1:49:26benefits, the research that backs it up.
1:49:29You want to be able to show some data.
1:49:30You want to have an emotional story that
1:49:32tells people how this product works and
1:49:34how it changed someone's life or how it
1:49:36delivered a valuable outcome. So, all of
1:49:39that's in the demo and the demo shows
1:49:41how your product is the path of least
1:49:43resistance between the current reality,
1:49:46the desired reality, and the obstacles
1:49:49that a ideal customer has. So, you take
1:49:51an ideal customer, this is where they
1:49:53are, this is where they want to be, this
1:49:54is what's stopping them. Look at our
1:49:56path of least resistance that we've
1:49:57created. But, it's not for everybody.
1:50:00You have to do a customer needs
1:50:01analysis. So, a survey or an assessment
1:50:04and then that tells you whether you need
1:50:05this product or not.
1:50:07So, you want to productize that. You
1:50:08want to give it a name and you want to
1:50:09give it a like a landing page and people
1:50:11can sign up to it
1:50:13so they can experience the presentation
1:50:15and and do the customer needs analysis.
1:50:18I've got a picture here called uh
1:50:21the messy middle.
1:50:22Yeah, the Google Google report.
1:50:24I've actually never seen this before,
1:50:25this image. Yeah. Um can you explain to
1:50:28me, I'll put it on the screen and link
1:50:30it below for anyone that wants to look
1:50:31at it, I highly recommend you do,
1:50:33what this image is?
1:50:35Yeah, so we used to think of marketing
1:50:37as marketing funnels. And marketing
1:50:39funnels, essentially, we would push
1:50:41people through a marketing process from
1:50:43awareness to uh consideration through to
1:50:47trust and commitment and purchase. So,
1:50:49it was this marketing funnel and we're
1:50:51just kind of funneling them through. Um
1:50:53and that's how we, you know, almost all
1:50:55marketers draw funnels. Yeah.
1:50:57Um and then Google did some research to
1:50:59see is this actually true? Is this still
1:51:01how people buy? And they found it's
1:51:03actually not how people buy at all
1:51:04anymore.
1:51:05Um so um
1:51:08top of funnel, middle of funnel, and
1:51:09bottom of funnel has been replaced by a
1:51:11trigger, a totally random journey
1:51:15through a playground where we explore
1:51:17and evaluate randomly, and then a
1:51:20trigger for signaling intent, and then
1:51:23purchase over here. So, what this might
1:51:26look like is I might see an influencer
1:51:30talking about her, you know, handbag,
1:51:33and I go, "Oh, I'm interested in that
1:51:34brand. I'll give them a follow." Yeah.
1:51:36And then I ignore them.
1:51:38Um and then I discover that they've
1:51:40actually put some videos on YouTube, and
1:51:42I start watching a video on YouTube, but
1:51:44then I go and do something else. And
1:51:46then I see a review website, and um I go
1:51:49go on the review website. Then I find
1:51:50out that that brand has actually created
1:51:52a waiting list for a new product, so I
1:51:54actually say, "Oh, I might try drive the
1:51:55waiting list." Now I'm like ending up
1:51:57down here, and then um I get on the
1:52:00waiting list. They tell me that uh
1:52:02they're only releasing 500 of that
1:52:03product. Would I like one? Yes, I would.
1:52:06So, then I
1:52:07basically go and purchase.
1:52:09So, it's no longer a
1:52:11funnel experience because customers have
1:52:13figured out that they can disappear
1:52:14within 3 seconds if they want to, right?
1:52:16They can just jump your fence, and and a
1:52:19funnel feels dehumanizing for most
1:52:20people.
1:52:21So, they don't like to be funneled. They
1:52:23like to go on an adventure.
1:52:25So, rather than think of our marketing
1:52:27as a funnel, we want to think about it
1:52:28as an adventure or a playground. So,
1:52:30we're going to create things that people
1:52:32can interact with and play with. Um so,
1:52:35they could watch a
1:52:37watch a video. They could listen to a
1:52:38podcast. They could take an online
1:52:39assessment. Uh they could um complete a
1:52:43customer needs analysis. They could
1:52:44watch a demo. They could get free access
1:52:47to a trial in a portal.
1:52:49Um they could join a community. They
1:52:50could join a discussion group. Right?
1:52:52So, these are all things that people can
1:52:54engage with or play with, and we want it
1:52:57to avoid feeling like a funnel. We want
1:52:59to feel like it's um
1:53:01lots of value, lots of great
1:53:02experiences, and then at the certain
1:53:05time there are moments to act if you
1:53:07want to buy something. If you're in a If
1:53:08you're the right person at the right
1:53:09time, this is the moment to act. So,
1:53:11it's a bit of a different way of
1:53:12thinking about marketing, but it
1:53:14acknowledges the fact that we're living
1:53:16in a very different world where, you
1:53:17know, funnels worked when people were
1:53:19afraid of not seeing you ever again or
1:53:21that they're afraid that they would miss
1:53:23out, but no one's afraid of that
1:53:24anymore.
1:53:26The people that came to you following
1:53:27your our last conversation and that mess
1:53:29sent you messages and DMs, what is the
1:53:31most frequently occurring question that
1:53:34they asked you?
1:53:36How do I start when I don't have a
1:53:38brand?
1:53:39Um
1:53:41like a lot of people say, "I've got a
1:53:42big idea or I want to launch, but I
1:53:44don't have a brand yet. I I'm I'm
1:53:46invisible.
1:53:47Um you know, I feel invisible and that
1:53:49makes me feel stuck."
1:53:50Uh and essentially, they they know what
1:53:53they're excited about, they know what
1:53:54they're passionate about. Um I've got a
1:53:56big I've got a big new product idea,
1:53:58I've got a way of expanding into a new
1:54:00territory, but I don't have the brand.
1:54:03And is that where your five P's come in
1:54:05for becoming a key person of influence?
1:54:07So, the Yeah, so the five P's is uh we
1:54:09have to learn to pitch, right? The
1:54:12entrepreneur journey is a journey of a
1:54:13thousand pitches.
1:54:14Uh one way or another, you're either
1:54:16going to pitch an average pitch and end
1:54:17up with nothing or you pitch a
1:54:18phenomenal pitch and end up with a 10 to
1:54:21100 million-dollar business.
1:54:22Um if you're Elon Musk, you'll end up
1:54:24pitching your way to Mars, right? But
1:54:25journey is the entrepreneur journey is
1:54:27all about pitching. So, we've got to
1:54:29have a a great way of pitching the
1:54:31business so people are excited.
1:54:33In person or digitally? Could be video,
1:54:36right? I've seen Mark Zuckerberg do
1:54:38hundreds of pitches uh over the last 20
1:54:40years for Facebook and new features. Um
1:54:43uh Steve Jobs used to do it on stage, um
1:54:46but then the video went out. So, you can
1:54:48do it to video, you can do it to camera,
1:54:50you can do it on a podcast, you can do
1:54:52it um
1:54:54uh live, you can do it one-to-one, you
1:54:55can do it to groups, but you have to
1:54:56learn how to be able to pitch an idea,
1:54:58get people excited about something
1:54:59through your words. Entrepreneurs and
1:55:01founders, they are the spokesperson for
1:55:03their business. They have to be able to
1:55:04be good at pitching.
1:55:06The second thing is publishing content.
1:55:08Publishing videos, publishing podcasts,
1:55:10publishing a book, publishing on
1:55:12LinkedIn, right? So, it's essentially
1:55:14taking the elements of a pitch, but
1:55:15putting into different formats.
1:55:177-Eleven four stuff.
1:55:20The third element is the productization,
1:55:22the product ecosystem. Too many people
1:55:24sell time and skills. They have to sell
1:55:26intellectual property, media, data,
1:55:28software, or productized services, or
1:55:30product They have to have a scalable
1:55:32product. Something that doesn't require
1:55:34their time and effort in order to sell
1:55:35it again and again.
1:55:37Um cuz your time and effort as a founder
1:55:39has to be on the demand side, not the
1:55:40supply side. So, we've got to
1:55:41productize.
1:55:43Uh raising profile
1:55:45uh is the next one. So, having your
1:55:47social media platforms, doing some live
1:55:50events, um winning some awards, uh
1:55:53getting on traditional media or
1:55:54third-party platforms, all of that is
1:55:56your profile. And then the next one,
1:55:58once you've done all of that, is doing
1:56:00your first joint ventures and
1:56:01partnerships. So, big business happens
1:56:03when you can find the right partners. Uh
1:56:05so, you might need a capital partner for
1:56:07investment, or you might need a
1:56:08distribution partner for sales. You
1:56:10might need a um a a a
1:56:13a product partner. Someone who actually
1:56:15partners to in incorporate something
1:56:17that they do into your product. So,
1:56:18you're packaging up through
1:56:19partnerships.
1:56:20Um
1:56:21So, I always focus people on pitching,
1:56:24publishing, product, profile,
1:56:25partnerships. That's the role of the
1:56:26founder. We call that the key person of
1:56:28influence role.
1:56:29The um personal brand feels like this
1:56:32weird thing, or it feels like branding,
1:56:34or it feels like this kind of like
1:56:36um oh, I've got to you know, get up
1:56:38every day and photograph my breakfast,
1:56:40and you know, all that sort of stuff.
1:56:42But actually, if we just focus on pitch,
1:56:43publish, product, profile, partnership,
1:56:45most people who are sensible people with
1:56:47successful businesses, they say, "Oh,
1:56:49that makes sense. I like all of those
1:56:50things." Yeah, personal branding has got
1:56:52a bit of a rap, isn't it? Bit of a um
1:56:54bit of a stigma. The goal is not to be
1:56:56an influencer, to be a key person of
1:56:57influence, and there's a difference.
1:57:00And I think um there's different types
1:57:01of personal branding, and the best, most
1:57:03effective type of personal branding that
1:57:05I've seen is what I call idea promotion,
1:57:07where you're promoting your ideas to the
1:57:10world, um maybe in a particular niche or
1:57:12industry, but it's all about here are my
1:57:14ideas, and you can do that as well,
1:57:16obviously, through books and through
1:57:17podcast appearances and stuff. But there
1:57:18are other types of promotion, so some
1:57:20people do
1:57:22deficiency promotion. Here are all the
1:57:23ways that I'm flawed, and they build a
1:57:25brand around that.
1:57:26the one people most object to is
1:57:28self-promotion.
1:57:28Self-promotion, which is here's how
1:57:30great I am.
1:57:30Look at me, this is my lifestyle, this
1:57:32is my car, this is my abs. Yeah. Um
1:57:35here's my
1:57:36dinner, here's my girlfriend, my
1:57:37boyfriend, right? So, all of that sort
1:57:40of stuff is self-promotion. That's
1:57:41narcissistic, and that's that's
1:57:43associated more with an influencer. A
1:57:46key person of influence is operating
1:57:47within a high-value niche, and they're
1:57:50idea promoting. They're saying, here's
1:57:51the big insights that you need. Here's
1:57:53the data that you should pay attention
1:57:54to. Here's the problem as I see it, and
1:57:56here's some nuances around the problem.
1:57:57Here's the solution or outcome that's
1:57:59achievable, and here's how you get to
1:58:00that outcome. So, they're they're
1:58:02basically it's part thought leader, but
1:58:04also part entrepreneur.
1:58:06Um they you don't need a huge following
1:58:08for this.
1:58:09Influencers notoriously can't sell
1:58:11stuff. They Many influencers have a
1:58:13million followers, and it turns out they
1:58:15can't sell hoodies.
1:58:17Uh you know, very very difficult to get
1:58:20anything sold. People look at them as
1:58:22entertainers, but they don't really look
1:58:23at them as thought leaders or you know,
1:58:26someone who's directing serious spend. A
1:58:29key person of influence might have 5,000
1:58:31or 10,000 followers, but when they say
1:58:34this is the thing to buy, everyone buys
1:58:35it. Um you know, so that's what we're
1:58:38we're going for that. And can anyone do
1:58:40that?
1:58:40Anyone can start. I mean, I've I've been
1:58:42working on this for 15 years with 5 and
1:58:441/2 thousand companies. We've got single
1:58:47moms with children who have special
1:58:49needs, who have gone from struggling to
1:58:52multi-million businesses. We've got um
1:58:55people who had been stuck at five people
1:58:58for 10 years and then they go to 50
1:59:00people. Um you know, we've got people in
1:59:0350 different industries from real
1:59:04estate, dentistry to medicine to IT
1:59:07services.
1:59:08So, like the world the world is open at
1:59:10the moment. Every single industry has a
1:59:12thousand different micro niches. Every
1:59:15micro niche needs a key person of
1:59:16influence or two. Every micro niche can
1:59:19have a book. Um when we were stuck in
1:59:21geography,
1:59:23there was no point to doing all of this
1:59:25cuz you only had a 5-mi radius or 10-mi
1:59:27radius anyway, but now we can reach 1.5
1:59:30billion English speakers online. We can
1:59:32reach 70% of the world
1:59:34uh on fast internet. Your tiny little
1:59:37micro niche could be extremely valuable
1:59:40to 35 people on the planet who each
1:59:43happily pay 100,000 a year.
1:59:45You know, so
1:59:47we live in this world where the micro
1:59:49niches are incredibly valuable. Every
1:59:51industry has a thousand micro niches.
1:59:53Every micro niche needs an a key person
1:59:55of influence or two. Um there's
1:59:57absolutely no reason why and this is
1:59:59where the economy's headed. So, there's
2:00:01no reason why a lot of people can't do
2:00:02this. Can everyone do it? I don't know
2:00:03if everyone can do it, but a lot of
2:00:05people can definitely do it.
2:00:07So, what you think
2:00:08is maybe the subject or question that I
2:00:11haven't asked at this point in the
2:00:12conversation that people will be sat at
2:00:14home thinking?
2:00:15There's one last thing that I think we
2:00:16should talk about. If someone's feeling
2:00:18frustrated, stuck, or overwhelmed,
2:00:20there's the one thing that knocks out
2:00:23everything else
2:00:25for cutting through problems or cutting
2:00:27through things that get in the way. And
2:00:28that is this idea called I environment
2:00:31dictates performance. Environment
2:00:32dictates performance. And what that
2:00:34basically means is that we behave
2:00:36according to the environments that we
2:00:38show up in.
2:00:39So, if you are in an environment where
2:00:41nobody's doing this stuff, it's going to
2:00:43feel impossible.
2:00:44If you're in an environment where
2:00:46everybody's doing this stuff, it's going
2:00:47to feel effortless.
2:00:49If you're in an environment where
2:00:50everyone talks about how money is evil,
2:00:52you're never going to make any money. If
2:00:54you're in an environment where everyone
2:00:55sees money as just a tool,
2:00:57right? You're going to make a ton of
2:00:58money.
2:01:00Many years ago when I was in my early
2:01:0120s,
2:01:03uh someone suggested that I go to
2:01:04dancing classes and I thought this is
2:01:06ridiculous. Why like I can't dance and
2:01:08I'll never be able to dance and
2:01:09dancing's weird. I went to a dance class
2:01:12and in that environment it was normal to
2:01:14learn dancing and within three lessons I
2:01:16was dancing really well. I enjoyed it. I
2:01:19did three years of dance classes. I got
2:01:21really good at it and it was one of my
2:01:22favorite places to show up. But nothing
2:01:25would have happened unless I made the
2:01:26commitment to get into a different
2:01:27environment. So, the final thing to talk
2:01:30about is that if any of this feels
2:01:32really hard or really like difficult,
2:01:34for me I feel effortless cuz I'm
2:01:35surrounded by people who live this way.
2:01:37Every single one of my friends is
2:01:39scaling a business and a personal brand.
2:01:41Um but if you're not in that
2:01:42environment, it's going to feel really
2:01:44weird and foreign.
2:01:45So,
2:01:46the easiest thing people could try, just
2:01:49simply try the idea of changing
2:01:51environments immediately by doing a few
2:01:53following things.
2:01:55If you feel stuck,
2:01:56find the highest place that you can get
2:01:58to. Do you agree like physically the
2:02:00highest? Go to the top floor restaurant
2:02:02in your town. Go to a um
2:02:05a place that is like an office that has
2:02:07a foyer that overlooks the whole city.
2:02:09Um do whatever you can to go high up and
2:02:12then see how the problem feels when
2:02:13you're actually high up looking out to
2:02:15the horizon. Just that change of
2:02:17environment will give you new ideas. Um
2:02:19go and talk to someone who you haven't
2:02:21talked to in a while who's two, three,
2:02:22four steps ahead of you. But meet them
2:02:25in an opulent hotel, right? Anyone can
2:02:27go sit in a hotel foyer of a five-star
2:02:29hotel. Go and meet for coffee in a
2:02:31five-star hotel foyer with someone who's
2:02:34three or four steps ahead of you.
2:02:35Suddenly you're going to feel very, very
2:02:37different.
2:02:38Enroll yourself onto a course where
2:02:40everyone's learning the same thing that
2:02:42you're learning, and that environment
2:02:44means that it's normal. Like let's say
2:02:45you're afraid of public speaking. Enroll
2:02:47yourself in a public speaking course,
2:02:49everyone's going through the process of
2:02:50public speaking, suddenly it feels like
2:02:52pretty normal.
2:02:53Enroll into an entrepreneur accelerator.
2:02:56Everyone's an entrepreneur in there,
2:02:57suddenly it feels very normal to be
2:02:58scaling a business.
2:03:00So, environment dictates performance is
2:03:02the big thing that changes everything.
2:03:05Pay attention to environment. What I'd
2:03:06love people to do that are listening now
2:03:08um on YouTube or wherever you might be
2:03:11listening. I think YouTube's probably
2:03:12the best place to do it. Is if you are
2:03:15one of those people that feels a little
2:03:16bit lost, and you are I don't know,
2:03:18you are working in a restaurant at the
2:03:20moment, and you're working evenings, and
2:03:22you heard Daniel talk about AI and all
2:03:24of these things, and you just feel like
2:03:25it might be a a bit far away, or you
2:03:26don't have the people around you that
2:03:27can um
2:03:29potentially help you with that. Let's
2:03:30start a little bit of a community in the
2:03:32comment section. So, I think it'd be
2:03:34really really cool if people detailed
2:03:36their situation, talked about where they
2:03:37want to get, and if you just throw that
2:03:39out there in the comment section, who
2:03:41you are, where you are. Obviously, keep
2:03:42your private details to yourself. But um
2:03:45as anonymous as you're comfortable
2:03:47being or not being,
2:03:49throw the seed out there, and you'll it
2:03:51will start a conversation with somebody
2:03:52else. I see all the time in the comment
2:03:53section, people start chatting, they
2:03:55start getting motivated.
2:03:56on a Zoom call with that person.
2:03:58Yeah. Right? Or a Microsoft meeting,
2:04:01right? Or a Google meeting, right? See
2:04:03if you can just randomly meet up with
2:04:05someone who's aligned on values because
2:04:06they watched the same video.
2:04:08Yeah. Right? Anyone who's going to
2:04:09comment this has watched all the way to
2:04:10the end. Yeah, exactly.
2:04:11Right? So, have a little video call with
2:04:14them. Like jump on a Zoom call, and just
2:04:17say, "Hey, let's discuss the episode.
2:04:19What are you up to? What are you doing?
2:04:20What are you taking away from that?"
2:04:21That's a that's a change of environment.
2:04:23You're you're putting yourself around a
2:04:24new person. And just so you know who
2:04:26these people are that also got to the
2:04:28end of this and that are doing this, if
2:04:30you could all start it with a waving
2:04:31emoji, then at least you know that
2:04:33you're people that got to the end and
2:04:34saw this part. And um, you could be
2:04:36friendly to those people and maybe um,
2:04:38reach out to them, talk to them, and
2:04:40safely, right? Do your own process of
2:04:43verification to figure out make sure
2:04:44that they're not a crypto scammer or
2:04:46something. Safely, maybe connect with
2:04:48them on LinkedIn, verify who they are,
2:04:50and then form that relationship because
2:04:51there are people in this audience that I
2:04:52know are searching for like-minded
2:04:55individuals. And as you say, by the very
2:04:56nature that they got to the end of a
2:04:573-hour conversation, they are
2:04:59like-minded in some way.
2:05:01Super aligned. You might discover you've
2:05:02got more in common with someone on the
2:05:04other side of the planet than someone
2:05:06who's just down the road.
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2:06:58We have a closing tradition on this
2:06:59podcast where the last guest leaves a
2:07:00question for the next without knowing
2:07:01who they're leaving it for. Where do you
2:07:03draw the line between health
2:07:07or anything
2:07:09optimization and pleasure?
2:07:12I think optimization can lead to
2:07:13pleasure. Um
2:07:15one of the things that happened to me uh
2:07:17personally is Christmas Eve uh just a
2:07:21few weeks ago.
2:07:22I got a phone call from a GP who I'd
2:07:24never spoken to before in my life who
2:07:26had looked at my health results from my
2:07:28blood test and said um Daniel, I need to
2:07:31call you before something bad happens.
2:07:33And I went, "What are you talking
2:07:35about?" He said, "Well, your pancreas
2:07:37has an enzyme that's associated with bad
2:07:38things. Has anyone commented that you're
2:07:40turning yellow?" I went, "No."
2:07:43Uh he said, "Uh have you um
2:07:46lost consciousness or been dizzy?" No.
2:07:48"Have you uh you know, have you had to
2:07:51like fall over uh if you had to have a
2:07:52sleep all afternoon?" this. I'm like,
2:07:54"No, none of that." He said, "Okay,
2:07:56you're you're really close to having a
2:07:57health problem. The reason I'm calling
2:07:59you Christmas Eve is because Christmas
2:08:00Day, if you drink alcohol, if you eat
2:08:02too much food, you could end up in an
2:08:04ambulance with these levels that you're
2:08:05in." And I'm like, "This is so weird.
2:08:07I've never known this. I just had a
2:08:09blood test to sort of see my markers
2:08:11and I got this result."
2:08:13And for about a week, I didn't know
2:08:16whether I had some serious disease. I
2:08:18didn't know any of this. I went and got
2:08:19a CT scan. Suddenly, I find out that uh
2:08:22my doctor said, "Pristine." I have a
2:08:24pristine pancreas and gallbladder and
2:08:26and liver. And I had these elevated
2:08:28levels, Um but it was associated with
2:08:30some other things. It was associated
2:08:32with some changes to diet, sleep,
2:08:33exercise, all of this. But it was like a
2:08:36a reprieve. It was like a stay of
2:08:38execution. It was it was a wonderful
2:08:40experience to go, oh wow, okay, it's not
2:08:41serious, it's reversible.
2:08:43That data has changed my life. Just that
2:08:45week, it was the greatest gift I could
2:08:47have got for Christmas because for a
2:08:49week I felt like what it must feel like
2:08:51to lose your health and to be told that
2:08:53your health is in serious decline. I had
2:08:55the I I had the
2:08:57real experience of what it would feel
2:08:58like to to receive bad information. But
2:09:01then at the end of the week and I got
2:09:02the CT scan, I had the real experience
2:09:05of like uh you know, the ghost of
2:09:06Christmas, right? I It's okay, Dan. It's
2:09:09not too late. So suddenly I'm
2:09:12optimizing. I've got my Whoop band and
2:09:14and I'm I'm getting a lot of pleasure.
2:09:16Like having the data is great. Data is a
2:09:18great thing. There's nothing that frees
2:09:20you more than having visibility of the
2:09:21data.
2:09:22What was that epiphany that you got in
2:09:24that week? And what is the
2:09:26for us that, you know, for people that
2:09:27don't want to have to go through that to
2:09:28realize what you realized in that week?
2:09:30It's an age-old epiphany, but a healthy
2:09:33man has many goals, a sick man has only
2:09:35one.
2:09:38All right. So when you think you've got
2:09:40your health, you've got all of the
2:09:41possibilities ahead of you. When you
2:09:43think you've lost your health, you're
2:09:44only focused on getting that back again.
2:09:46Um and you don't know what you've got
2:09:48till it's gone. You don't Like you don't
2:09:50know what until you hit that crisis
2:09:52point, you just take it all for granted.
2:09:55Um
2:09:56it was just one of those magical moments
2:09:58of going, oh my goodness, I have this
2:10:00incredible body that's functioning like
2:10:03I need to take care of this. This is my
2:10:05vehicle. Um so it was you know, the
2:10:08epiphany was just
2:10:09I'm so focused on business and life and
2:10:12opportunities and all this external
2:10:14stuff, but actually there's great joy
2:10:15and great pleasure in taking care of
2:10:17yourself.
2:10:18I think that's so wonderful to hear and
2:10:20so refreshing um because it's the often
2:10:23the missing piece
2:10:25in the big picture of like success and
2:10:26optimization is this
2:10:28I I had it for many years this
2:10:31we take for granted that all that we
2:10:32strive for and all that we've
2:10:34accomplished and all that we love and
2:10:35know is sitting on this tectonic plate
2:10:38that we don't even know it's there until
2:10:39it shakes. Until it shakes.
2:10:40It's like I was in over in Cape Town
2:10:42there was an earthquake this um
2:10:44this year while I was there and I'm sat
2:10:47in my house and then it suddenly at 2:00
2:10:48a.m. in the morning
2:10:49like z- underneath me starts shaking.
2:10:53Yeah.
2:10:53And I I was like, "Oh my god, I didn't
2:10:54realize. I thought the house was the
2:10:56base. Actually, the base is the tectonic
2:10:58plate." And in our lives that's our
2:10:59health. As entrepreneurs, we disregard
2:11:01it so flippantly in the pursuit of
2:11:04some kind of accolade until it shakes.
2:11:06And then that becomes the only important
2:11:07thing.
2:11:09Daniel, thank you so much. It's an honor
2:11:10and please keep doing what you're doing.
2:11:12It's amazing. Thank you.
2:11:17Do you know that 80% of New Year's
2:11:18resolutions fail by February? It's
2:11:20because we focus too much on the end
2:11:22goal and we forget the small daily
2:11:24actions that actually move us forward.
2:11:26Those actions that are easy to do are
2:11:27also easy not to do in life. It's easy
2:11:29to save a dollar so it's also easy not
2:11:31to. Making one small improvement each
2:11:34day, one tiny step in the right
2:11:35direction has a big difference over
2:11:37time. And that is the 1% mindset, which
2:11:40is why we created the 1% diary, a 90-day
2:11:43journal designed to help you stay
2:11:45consistent and focus on the small wins
2:11:47and make real progress over time. It
2:11:49also gives you access to the 1%
2:11:51community, a space where you can stay
2:11:52accountable, motivated, inspired along
2:11:55with many others on the same journey. We
2:11:56launched the 1% diary in November and it
2:11:58sold out. So now we're doing a second
2:12:01drop. Join the waitlist at the diary.com
2:12:04and you'll be the first to know as soon
2:12:05as it's back in stock. I'll put the link
2:12:07below.
2:12:15Oh.
2:12:17Oh.
2:12:20Oh.
2:12:22Oh.
2:12:25Oh.
2:12:27Oh.
2:12:30Oh.

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