Why 2.3M Subscribers Isn't the Whole Business — Transcript

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1. 0:00Just talking to it.
2. 0:00>> Yep.
3. 0:01>> Yeah, so I have a I've got a motorcycle
4. 0:03YouTube channel.
5. 0:04>> Cool.
6. 0:06>> 2.3 million subscribers. Top line is
7. 0:083.7.
8. 0:09>> Sweet.
9. 0:10>> Most of my money comes from ad revenue.
10. 0:12>> Interesting. Okay.
11. 0:13>> sell
12. 0:15a couple hundred thousand dollars comes
13. 0:16from products. I'm just wanting to know
14. 0:18I feel like I'm leaving something on the
15. 0:19table, something big.
16. 0:20>> Are you doing a lot of sponsorships in
17. 0:21addition to ad rev like it's not just
18. 0:23YouTube ad revenue, it's
19. 0:24>> Most of it's YouTube ad revenue. We just
20. 0:26started ramping up sponsorships.
21. 0:29>> That's amazing. That's crazy. What's
22. 0:31your What are your RPMs?
23. 0:34>> 30.
24. 0:34>> Interesting. Oh, then you get a ton of
25. 0:36you just get a crazy amount of views.
26. 0:37What uh How many views do you get a
27. 0:38month?
28. 0:39>> 10 to 15 million long form.
29. 0:41>> Something doesn't add up there.
30. 0:43Oh.
31. 0:44>> The all of them all of gets much gets
32. 0:45pretty good uh
33. 0:47I see your
34. 0:48RPMs.
35. 0:49>> Well, you have 30 but like I'm I'm just
36. 0:50doing the math there. So, if it's like
37. 0:5210 million views a month
38. 0:55times so that's mill so that's
39. 0:57uh 10,000 times 30.
40. 1:00>> I guess no, that's right. It's It's long
41. 1:02form.
42. 1:02>> Long form.
43. 1:03>> Oh, got it. Okay, that makes sense. Got
44. 1:04it. Got it. Got it. Okay, cool. So, um
45. 1:07super cool. That's great. So,
46. 1:09uh that's the main ad ad revenue. What
47. 1:11are they What are the people on your
48. 1:12channel selling?
49. 1:13What are the advertisers who advertise
50. 1:15on your channel sell to your customers?
51. 1:17>> I don't know.
52. 1:18>> Okay. So, literally
53. 1:21to part today after in 5 seconds make a
54. 1:24community post and say, "Hey, what are
55. 1:27the ads that you see on my channel?
56. 1:29Comment below."
57. 1:30And you will get because fundamentally
58. 1:33the people who are advertising on your
59. 1:34channel they're the ones who are getting
60. 1:35the highest return. They're the ones who
61. 1:36are paying you three and a half million
62. 1:37dollars a year, not YouTube. And so,
63. 1:39it's like if it's worth three and a half
64. 1:40million to them, then it's got to be
65. 1:42pro- sorry, if they're willing to pay me
66. 1:43three and a half, they're probably
67. 1:44making at least 10, probably 20 off of
68. 1:47that. Now, you would be able to get even
69. 1:48more than that because they trust you
70. 1:50rather than just some random uh slice.
71. 1:52And so, then I would look at uh the
72. 1:54product mix of what things are being
73. 1:57sold and I look at which of these ones
74. 1:58is uh one that either you could go
75. 2:00directly to them and say, "Hey, I know
76. 2:02you're advertising on my channel, why
77. 2:03don't we Let me figure a little deal out
78. 2:05here."
79. 2:06Uh so
80. 2:07Okay. Oops, shoot. So, paths for you,
81. 2:11right?
82. 2:14So, you've got
83. 2:16you can have products that you own.
84. 2:20Uh you can have sponsorships.
85. 2:26Um or you can just run affiliate, which
86. 2:28is similar to these, but just kind of
87. 2:29different in terms of the the character
88. 2:31characteristics. So, um
89. 2:34Oh, shoot, and then partnerships.
90. 2:40So, if somebody has like a really
91. 2:42expensive thing that's very hard to do,
92. 2:45like let's say somebody's, you know, got
93. 2:47they've figured out how to build mini
94. 2:48motorcycles or something, whatever. It's
95. 2:50like I might say like, "How can How can
96. 2:52we partner on this so that I can push
97. 2:54you traffic and promote and endorse and
98. 2:57whatever?" And then you have some
99. 2:58element of cash flow, but a huge you
100. 3:00know, a huge chunk of equity of that
101. 3:01business. Basically, you would pitch
102. 3:03them this is how I position it. I would
103. 3:05say
104. 3:06And you've got some cash, too. So, I
105. 3:08would the the the magic here is putting
106. 3:10money and brand buying something. So,
107. 3:12it's like you have three people in your
108. 3:14in your marketing department. I am the
109. 3:16marketing department of a business
110. 3:17that's 20 times bigger than yours. And
111. 3:19so, I'm going to bring my entire
112. 3:21marketing department. It's like a
113. 3:22reverse acquire. I'm like letting you
114. 3:24acquire me,
115. 3:26but I'll put some cash in the deal, too,
116. 3:28and let's split this or whatever, and we
117. 3:30can go to whatever this next level is.
118. 3:32So, that would be like This would be
119. 3:34maybe the most complex, but the biggest
120. 3:35bet for you
121. 3:37that you could get like crazy crazy
122. 3:39returns. These things are all I would
123. 3:41say smaller bets. Like if you're not
124. 3:43selling sponsorships, you probably
125. 3:44should just from a media company. So,
126. 3:46it's like do you want to optimize for
127. 3:48how much profit you make? Cuz you could
128. 3:50could become If you're just motorcycle
129. 3:51media,
130. 3:52then you just sell ad space. So, not
131. 3:54only do you get ad revenue, you just
132. 3:55also sell ad space. And I'm guessing you
133. 3:58could probably do probably double the
134. 3:59revenue that you have right now, maybe
135. 4:01more, uh just by selling ad space. And
136. 4:03that would just all drop to the bottom
137. 4:04line. That would be it. And but the
138. 4:06first step of still getting who are all
139. 4:08the people advertising is a great first
140. 4:09like that's my leads list of hitting
141. 4:11those people up. And the nice thing is
142. 4:13it's like really warm reach outs. You're
143. 4:14like, "You already advertise on my
144. 4:15channel." So,
145. 4:18let's make this official, right? Um the
146. 4:20affiliates is like if they're not like
147. 4:22willing to trust you that you can get a
148. 4:23percentage of the revenue that you send.
149. 4:25I'm not as big of a fan. I'd rather you
150. 4:26do sponsorships. But if you need to like
151. 4:28prove it out earlier or something, you
152. 4:29can do that. And then
153. 4:32this last category is just like if you
154. 4:33were to develop a product, what would
155. 4:34you sell? Um but if you're like, "I
156. 4:37don't
157. 4:39If that's not your space,
158. 4:41then I would rather you just find what's
159. 4:42the thing that makes the most money on
160. 4:44my channel, and then how do I make a
161. 4:46deal with them that makes sense? That's
162. 4:47probably what I would do.
163. 4:50Cuz like I don't want to go build
164. 4:51school. I was like, "I'll just bring a
165. 4:53bunch of money
166. 4:54and then buy it." Like it just that made
167. 4:56more sense.
168. 4:57>> Right.
169. 4:58>> But I'm not going to start another
170. 4:59software company. That's a huge
171. 5:00distraction for me.
172. 5:02But I have all these people who want to
173. 5:03start a business and I should put them
174. 5:04somewhere.
175. 5:07>> Thank you.
176. 5:08>> Cool.
177. 5:09That help?
178. 5:10>> Yes.
179. 5:11>> Okay, cool.
180. 5:12Whoever's got it just talking to it.
181. 5:17If you've got the box, just
182. 5:18>> All right.
183. 5:19>> Yeah, I got one.
184. 5:20>> I got one for you.
185. 5:21>> So,
186. 5:22uh
187. 5:24It's more Iron View 360. Uh we are a
188. 5:28technology company. We collect 360
189. 5:30photos.
190. 5:31>> What are you company?
191. 5:32>> Uh uh
192. 5:34360 documentation. Taking 360 photos.
193. 5:37>> What did you say before that?
194. 5:38>> Technology company.
195. 5:39>> Technology company. Got it. Okay. So,
196. 5:40you take 360 pictures with like a
197. 5:42camera?
198. 5:42>> Yeah.
199. 5:43>> Okay.
200. 5:43>> Yeah.
201. 5:43>> Hardware?
202. 5:44>> Hardware.
203. 5:45>> Okay.
204. 5:45>> And uh we're at the right place at the
205. 5:47right time
206. 5:49before every wall gets insulated and
207. 5:51drywalled.
208. 5:52>> Okay.
209. 5:53>> So, we create a perfect digital twin
210. 5:56of the structure.
211. 5:57>> Okay, cool.
212. 5:59>> And we're turning all that data,
213. 6:01stitching it together into a maintenance
214. 6:03tool.
215. 6:04>> Okay.
216. 6:05>> So, in the future, for the next 40
217. 6:06years, anyone can come up to a wall,
218. 6:08point an iPhone at it, and you'll see
219. 6:10what's inside it.
220. 6:11>> Okay, because you were there earlier.
221. 6:13>> Yes.
222. 6:13>> Okay.
223. 6:14Okay.
224. 6:15>> So,
225. 6:17frustration or
226. 6:18>> [sighs]
227. 6:19>> you know, not to position myself the
228. 6:20wrong way,
229. 6:21>> Sure.
230. 6:21>> how do I sell this? Right?
231. 6:23>> The business or the product?
232. 6:25>> The product.
233. 6:26>> Okay.
234. 6:26>> right? So,
235. 6:27>> Who's the avatar?
236. 6:29>> Sorry, the avatar?
237. 6:30>> Who are you selling to?
238. 6:32>> That's That's where I want to kind of
239. 6:34question put frame the question.
240. 6:35>> So, have you already done this or this
241. 6:37So, that what you just described is a
242. 6:39vision of the future that you would like
243. 6:41to create. That's not current reality.
244. 6:42>> We We have We have a client that's
245. 6:44partnering with us.
246. 6:45>> Okay.
247. 6:46>> It's telling us how they want it to look
248. 6:50like.
249. 6:50>> Okay. Are you pre-revenue right now?
250. 6:53>> Uh no.
251. 6:54>> Okay.
252. 6:54>> No.
253. 6:54>> So, how many units have you sold?
254. 6:57>> How many buildings do I have?
255. 6:59>> Uh sure.
256. 7:00>> 214.
257. 7:01>> And how many
258. 7:03cameras have you sold?
259. 7:04>> Uh well, we we've collected data on 214
260. 7:08>> Who bought the camera?
261. 7:10>> We did.
262. 7:12>> Okay, so it's a service.
263. 7:14>> Yes.
264. 7:14>> Got it.
265. 7:15>> Yes.
266. 7:15>> It's not hardware. Got it. So, you have
267. 7:16hardware and you deliver a service.
268. 7:18>> Ah.
269. 7:18>> Okay, got it. Cuz I'm like, he's a
270. 7:20GoPro. What are we talking about? Yeah,
271. 7:21okay. Um
272. 7:23>> So,
273. 7:24So, right now, I don't want to
274. 7:26underprice myself
275. 7:27>> Sure.
276. 7:27>> because issues don't arise in the
277. 7:28building in the first 5 years. It's
278. 7:30still under warranty.
279. 7:31>> Yeah.
280. 7:32>> And so,
281. 7:33how how do I how do I get in there and
282. 7:37not underprice myself?
283. 7:39You You do I
284. 7:40>> the market will tell you pretty quickly
285. 7:42what the price is.
286. 7:44Cuz there's a lot like
287. 7:47I I feel like I feel confident saying
288. 7:49this like I know some of the most
289. 7:50brilliant pricing people in the world.
290. 7:51That's all they've done for 45 years.
291. 7:53And I can consolidate the vast majority
292. 7:55of it into like
293. 7:57test and try and keep going up until
294. 7:59people say no.
295. 8:05>> The the
296. 8:07sometimes a problem is fixed, but we
297. 8:09don't know that problem was fixed and we
298. 8:10don't know how much that problem could
299. 8:12have cost the customer.
300. 8:13>> Uh-huh.
301. 8:14>> And so then it's like
302. 8:15>> Well, you know all problems that occur
303. 8:17in buildings in general and we can
304. 8:18assume that those problems always occur
305. 8:21eventually in all buildings. And so I
306. 8:23feel like that part actually matters.
307. 8:25The fact that you don't know that it
308. 8:26[clears throat] happened
309. 8:28I don't think matters at all.
310. 8:30We know that all problems that happen in
311. 8:31buildings and they have various levels
312. 8:34of cost
313. 8:36and yours prevents
314. 8:38what percentage of them? And then you
315. 8:40can make an extrapolated down cost of
316. 8:43savings. Basically cost of fixing rather
317. 8:45than letting it letting it get messed
318. 8:46up. But at the end of the day
319. 8:49that is still a discount on a very
320. 8:51future very future problem that may not
321. 8:53even be the problem of the building
322. 8:55owner.
323. 8:56And so the value proposition is going to
324. 8:58end up to be how much extra can I sell
325. 9:02this building for because you have to
326. 9:04get involved when they're building the
327. 9:05building, right?
328. 9:06>> Mhm.
329. 9:06>> Right. So your deals have to be with
330. 9:08builders.
331. 9:10And the value proposition is how much
332. 9:11more they can sell the building for with
333. 9:13this stuff.
334. 9:16>> Good. Yeah.
335. 9:16>> And so that to me it's like all this
336. 9:18other stuff doesn't really matter
337. 9:19because they're the buyer.
338. 9:22They're not the ultimate buyer, but
339. 9:24they're the ones who are the ones who
340. 9:25are going to get the value from it. And
341. 9:27they're going to realize the value at
342. 9:29point of sale.
343. 9:34Now where it'd would interesting for you
344. 9:37and so this is what this is your sales
345. 9:38pitch so like I can tell you.
346. 9:40So what you have to do is be able to
347. 9:42demonstrate, and that's the keyword here
348. 9:44is that you have to be able to
349. 9:45demonstrate that the buildings, the 214
350. 9:47buildings, whatever it is that you have,
351. 9:49their maintenance costs compared to, you
352. 9:51can take national average, you can find
353. 9:53another another another benchmark, are
354. 9:5530% less.
355. 9:57And then you take the average cost of
356. 10:00maintaining a building, and then that
357. 10:01allows them to price that into the
358. 10:03premium that they can charge for the
359. 10:05building knowing that that's going to
360. 10:06get a better return for the investor
361. 10:08who's buying it because they're not
362. 10:09going to have to
363. 10:10uh have these these costs.
364. 10:13So basically
365. 10:13>> If you like this video and you're a
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377. 10:32enjoy.