Valuetainment - October 18, 2018


Episode 191： How To Disrupt An Industry


Episode Stats


Length

20 minutes

Words per minute

203.60268

Word count

4,118

Sentence count

416

Harmful content

Toxicity

3

sentences flagged

Hate speech

11

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode of Valuetainment, host Patrick Bedevi talks about how to disrupt an industry and how to get on the cover of a major media outlet. He also shares the story of how he went from a $400 billion company to a $150 million company in less than a decade.

Transcript

Transcript generated with Whisper (turbo).
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 I'm Patrick Bedevi, your host of Valuetainment, and today I'm going to talk to you about the
00:00:20.340 formula on how to disrupt an industry.
00:00:22.940 Many, many years ago when I got into the financial industry, I didn't really know if I could
00:00:26.220 do it or not.
00:00:26.680 I had no background in the financial industry, nothing.
00:00:28.480 So I get in, and then all of a sudden I get my Series 7, 66, 31, 26, Life and Health.
00:00:33.200 I start doing a business.
00:00:34.500 I said, it's kind of cool.
00:00:36.040 October of 2009, we decided to start our own insurance company.
00:00:39.580 From the moment I started an insurance company, five seconds later, a $400 billion company sued
00:00:44.300 us for a 400-page lawsuit.
00:00:45.740 I mean, a 400-page lawsuit.
00:00:47.380 I had to get attorneys to represent seven different of us, like we had to go through,
00:00:50.980 right?
00:00:51.280 And so we start the company.
00:00:52.960 We're about to go out of business, but we're fighting, we're selling, we're working 100,
00:00:56.820 120 hours a week.
00:00:57.780 We're barely sleeping at night.
00:00:59.480 We made it, long story short.
00:01:00.840 But this is what took place.
00:01:01.980 And insurance magazine calls me and says, we'd like to get together with you because
00:01:04.780 we know you'd like to get your credibility out because you just went through a lawsuit.
00:01:08.000 The marketplace doesn't really see you as a company that's coming up.
00:01:11.120 We can really help you by getting your credibility out.
00:01:13.560 I said, let's get together.
00:01:14.340 They come down to Woodland Hills.
00:01:15.760 We sit down at Woodland Hills, Maggiano's, and they present the fact that I can be on
00:01:20.400 the cover of their number one insurance, Life Insurance Magazine and Marketplace, over
00:01:24.680 150,000 subscribers.
00:01:26.520 You can be on the cover of it.
00:01:27.880 I said, wow, a cover?
00:01:28.780 He says, no.
00:01:30.100 Advertorial.
00:01:30.760 Advertorial is this.
00:01:31.520 This rips off.
00:01:32.220 This is not the cover.
00:01:33.360 That's not the cover.
00:01:34.280 This is the cover.
00:01:35.100 This is an advertorial for $125,000.
00:01:37.840 I said, you want me to pay you $125,000?
00:01:39.200 They said, yes.
00:01:39.660 I said, look, I'll get the bill tonight.
00:01:42.100 I'm not going to pay you $125,000, but very soon you will contact us and you'll ask us
00:01:47.720 to do a cover story on your magazine.
00:01:49.420 Oh, that won't happen.
00:01:50.200 I said, why not?
00:01:50.960 That just won't happen.
00:01:51.920 I said, look at me in my eyes.
00:01:53.500 I'm going to tell you four words here, okay?
00:01:56.860 I said, ma'am, very nice lady.
00:01:59.720 I said, you have no idea how much conviction I have in the life insurance industry.
00:02:03.520 I love this business.
00:02:04.720 I know people think I'm crazy.
00:02:06.620 I love the life insurance industry.
00:02:07.960 That's number one.
00:02:08.480 You can't teach conviction.
00:02:10.640 You either have it or you don't have it.
00:02:12.440 Number two, when you get into an industry, you decide to compete.
00:02:16.960 The C-letter word, compete.
00:02:18.400 When you compete, I wanted to find out if I had the goodies to compete in the marketplace.
00:02:22.840 I figured I could compete with a lot of people in the marketplace.
00:02:25.400 That was number two.
00:02:26.500 Number three, the industry gave me so much, my lifestyle, my freedom, all this other stuff.
00:02:32.000 I said, I wanted to contribute to the industry.
00:02:34.340 I want to find a way to make the industry better because without this industry,
00:02:37.720 this regular guy whose father worked at a 99 cents or who had a 1.8 GPA, who went to the
00:02:42.880 military, I've never had a four-year, two-year degree, he would have been a regular guy, right?
00:02:46.640 And the fourth C-letter word is challenging conventional thinking, which by the way, if
00:02:51.020 you're involved in the industry and you don't challenge everybody's way of thinking where
00:02:54.860 people are dying for you to go out of business, you're not really disrupting.
00:02:58.440 Listen, we had so many people wanted us to go out of business.
00:03:02.080 They started propagandas, rumors, all of this stuff because they were furious with us.
00:03:06.580 By the way, a lot of lonely nights, a lot of nights of close of being out of business,
00:03:10.700 a lot of crazy days.
00:03:11.780 But then one day, I get a phone call.
00:03:14.280 A man named Paul calls me.
00:03:15.460 He's the CEO and the founder.
00:03:16.500 He says, I'm the CEO and founder of this magazine.
00:03:18.940 I said, Paul, what's the purpose of the call?
00:03:20.420 He says, I'd like to talk to you about telling your story because I'm seeing what you're doing in the marketplace.
00:03:24.240 Your name is coming up by people who like you and your name is coming up by people who don't like you.
00:03:28.480 And some even hate you.
00:03:29.860 But I figure it's a good time for us to share your story with people.
00:03:32.180 What do you think?
00:03:32.640 I said, great, let's talk about it.
00:03:34.240 I said, is this an advertory because I have no interest in spending a single penny?
00:03:37.500 He says, no, no, no.
00:03:38.500 We want to do a cover story and we want to tell your story.
00:03:41.260 So they came.
00:03:41.860 They did two articles.
00:03:42.740 One was called, Can He Make Insurance Cool Again?
00:03:45.860 And the other one was a cover story of what they recently did that was called,
00:03:50.260 Patrick B. David is Turning Non-Agents into Super Sellers.
00:03:53.100 And so after this, they came to the home office.
00:03:56.440 Many of you ask me all the time, Pat, what do you do for a living?
00:03:59.040 I run a financial firm.
00:04:00.400 That's what I do for a living.
00:04:01.240 I make videos.
00:04:01.960 You know what time it is right now?
00:04:03.180 It is right now, 928.
00:04:04.560 This is when we make videos, believe it or not.
00:04:06.440 Late at night because we don't have time to make videos throughout the day.
00:04:09.260 But this interview that was done by Matt Walton will tell you exactly what I do on a daily basis.
00:04:15.820 Enjoy the interview.
00:04:17.240 This is Matt Walton with Leaders of Industry.
00:04:19.360 Today, we're down in Dallas, Texas to meet the hugely successful author and entrepreneur,
00:04:24.900 Patrick Bett David, the founder of the PHP Agency, which stands for People Helping People
00:04:29.580 and Valuetainment.
00:04:31.460 This is his corporate headquarters.
00:04:33.380 Let's go in and meet him.
00:04:34.700 The life insurance industry is in retreat.
00:04:38.140 Today, the big agencies have all but given up on new recruits, as more people are leaving
00:04:42.760 the business than entering it.
00:04:44.840 But Patrick Bett David is on the advance, personally bringing nearly 4,000 new agents into the field
00:04:50.900 and turning many into millionaires.
00:04:53.660 We started with Patrick and I never looked back.
00:04:57.020 And how much business did you do last year?
00:04:58.620 Like millions of dollars.
00:05:01.120 We're talking about the things that we're able to have in terms of removing financial
00:05:04.500 arguments out of our conversation and our relationship as much more enhanced.
00:05:07.440 As a young boy, Patrick Bett David immigrated to the United States from war-torn Iran, served
00:05:12.560 in the U.S. Army's 101st Airborne Unit, and soon set off on a one-man mission to save
00:05:18.740 the insurance industry from self-destruction.
00:05:21.400 A true industry disruptor.
00:05:24.280 PHP's model, how they serve the customer, they're really approaching the industry in a
00:05:29.940 unique, fun, and innovative way.
00:05:32.440 I thought this was a noble company, selling a noble product, life insurance.
00:05:37.860 And I said, man, it would be an honor to help you go nationwide and go big with this
00:05:41.120 thing.
00:05:41.540 An absolute honor.
00:05:42.360 He's published four books, and with close to 100 million views on social media, he's
00:05:46.860 built the preeminent YouTube channel on entrepreneurship, value-tainment.
00:05:51.460 And he's done all of this before even turning 40, making Patrick Bett David an undisputed leader
00:05:59.280 of industry.
00:06:02.440 I'm Optimus Prime.
00:06:09.640 Welcome to the PHP Agency Headquarters.
00:06:13.040 How are you doing?
00:06:13.680 Hey, Patrick.
00:06:14.300 Good to see you.
00:06:14.960 Good to see you.
00:06:15.840 It's quite a receptionist you have.
00:06:17.380 Yes, he gets a lot of attention.
00:06:19.180 I was in Las Vegas.
00:06:20.520 We're having lunch at Joe's in Caesars.
00:06:22.860 And I see this massive Optimus Prime, and I say, I got to have it.
00:06:26.240 You know, I may be aging, but I'm still a kid inside.
00:06:28.280 I like my toys.
00:06:29.080 I go in, the girl says, it's handmade by auto parts.
00:06:32.780 You see, it says, Honda right here.
00:06:34.780 And it's nine feet tall, 1,400 pounds.
00:06:37.600 It took eight people to put this thing up.
00:06:39.600 So, it's a pretty grand entrance.
00:06:42.120 Let me show you around.
00:06:42.740 Let me show you the office.
00:06:43.360 We build a place where you come, you eat, you play.
00:06:54.740 Like foosball.
00:06:55.340 I haven't played in a long time.
00:06:56.240 You look like your competitors.
00:06:58.420 Oh, we got it.
00:06:59.660 You go to the gym.
00:07:00.580 I didn't work out today.
00:07:01.580 I want to get a lift in. 1.00
00:07:02.440 This fucking guy in a suit. 1.00
00:07:03.760 This is impressive. 1.00
00:07:04.640 Office is all Hollywood.
00:07:06.420 I'm right on.
00:07:07.120 Movies, Tombstone Rocky, Batman.
00:07:09.780 I haven't seen a lot of superheroes in here.
00:07:11.440 Also, watch a movie, have popcorn, relax.
00:07:15.480 This painting is a special painting.
00:07:18.040 I will be so impressed if you get all nine.
00:07:20.220 This, the most famous one of all, Patrick David right there.
00:07:23.080 There you go.
00:07:23.600 Love that guy.
00:07:25.320 You got Tupac.
00:07:26.380 You got Abe.
00:07:27.520 You got JFK and Einstein.
00:07:29.680 You got Martin Luther King.
00:07:33.440 Shah of Iran. 0.98
00:07:34.380 Okay, the Shah of Iran. 0.61
00:07:35.680 Most people think this is Buffett, but it's Milton Friedman.
00:07:38.220 Okay.
00:07:39.040 This is Senna.
00:07:39.840 His story just fascinates me.
00:07:41.160 I love this guy's story so much, where I name my daughter Senna.
00:07:45.560 Oh, wow.
00:07:46.080 That's beautiful.
00:07:46.380 His last name is Senna.
00:07:47.340 My daughter's first name is Senna.
00:07:49.260 So he's close to the left because that's my heart.
00:07:51.240 This is my daughter.
00:07:53.760 Patrick Bet-David, tell me about growing up in Iran.
00:07:57.680 I was born October of 78, which is the peak of the revolution between the Shah and the whole thing that was going on.
00:08:04.600 So when my father was taking my mother to the hospital, when her water broke, it was curfew.
00:08:09.600 So they held up my dad and had to escort my mom to the hospital.
00:08:14.940 And then I was born.
00:08:15.780 And then three months later, the Shah's out. 0.87
00:08:18.360 Right.
00:08:18.820 And then it's Iran with the turmoil, the war between Iran and Iraq.
00:08:23.320 I remember one day we got bombed 167 times in a single day.
00:08:27.700 And then one day, Khomeini dies.
00:08:30.700 When Khomeini dies, June 3rd, 89, six weeks later, we escape. 0.96
00:08:34.140 How?
00:08:34.600 And we escape.
00:08:35.900 We went and said we're going to Germany on vacation, but we didn't go on vacation.
00:08:40.020 We went and stayed at a refugee camp in Germany.
00:08:43.340 How was the refugee camp?
00:08:44.820 What was that like?
00:08:45.640 It was pretty wild.
00:08:46.660 You know, you'd wake up in the morning.
00:08:49.080 You'd go to the corner end of it.
00:08:50.460 They would put the apple juice.
00:08:51.500 You'd pick up the apple juice.
00:08:53.260 There were people there from Yugoslavia, Albania, Poland.
00:08:55.860 And it just, Afghanistan, Iraq, everybody was leaving to come to America. 0.68
00:09:00.800 So you learn about a lot of different cultures.
00:09:03.400 It was the first time I got stabbed, was at the refugee camp. 1.00
00:09:06.240 It was just craziness.
00:09:07.740 Then we got our green card from the States.
00:09:10.720 Then we flew in November 28, 1990, came to the States.
00:09:13.780 Did your father put the idea of coming to America in your head?
00:09:17.300 Did he have eyes on, I mean, at what point did you think America's where I want to be?
00:09:21.800 So I asked my dad this question a couple years ago.
00:09:24.060 My dad gave the credit to my mom.
00:09:25.420 My parents got a divorce.
00:09:27.120 But my dad said, your mother said, we got to leave.
00:09:29.640 Because in Iran, if you turn, I think, 12 years old, you have to serve.
00:09:32.800 And so they didn't want me to stay in the military.
00:09:34.560 No, at 12, you can't leave.
00:09:36.160 So you have to stay to serve.
00:09:37.740 And so my parents said, we got to leave.
00:09:38.860 We don't want you to serve.
00:09:39.680 It's so funny.
00:09:40.240 I left there.
00:09:41.280 And I come to America and I serve in the U.S. Army, which my mother wasn't too happy about.
00:09:46.360 But it kind of worked out.
00:09:47.480 You had aspired to be the Iranian Arnold Schwarzenegger.
00:09:51.700 Yes.
00:09:52.100 Did you think that training in the Army was going to help you meet that goal?
00:09:56.200 So if you came to my barracks in the Army, I either had pictures of Arnold or I had pictures of John Travolta.
00:10:02.740 That was my barracks.
00:10:05.780 And John Travolta, because of Saturday Night Live, staying alive, that whole thing.
00:10:10.200 My barracks, we would play that every day.
00:10:13.380 And so I got out and I said, you know what?
00:10:15.700 I can work hard.
00:10:16.920 I know how to train.
00:10:18.120 I'm going to go be a bodybuilder.
00:10:19.420 The story was, I'm going to be the Middle Eastern Arnold. 0.96
00:10:22.280 And when did that story change direction?
00:10:24.780 I was at Venice Beach, no shirt on, khaki, one of these guys walking around.
00:10:30.800 And this girl approaches me.
00:10:32.560 And we kind of made eye contact.
00:10:33.740 She approaches me.
00:10:34.540 She comes up to me.
00:10:35.140 We start talking.
00:10:35.940 We start dating.
00:10:37.060 She said, I work at Morgan Stanley Dean Witter.
00:10:39.120 I said, I know nothing about Morgan Stanley.
00:10:40.600 What's Morgan Stanley?
00:10:41.540 She said, it's a financial firm, all this other stuff.
00:10:44.140 I said, how can I work over there?
00:10:45.260 She said, you need a four-year degree.
00:10:46.560 She went to UCLA.
00:10:47.780 I said, I'm not doing that.
00:10:49.400 So I took my resume, which was very impressive.
00:10:53.420 Bob's Big Boy, Burger King, Haagen-Dazs.
00:10:56.680 And you were trying to be the top sales guy at those places?
00:10:58.740 That is my resume.
00:11:01.020 No four-year, no two-year, nothing.
00:11:02.820 On the cover letter, I took my best joke that I had.
00:11:06.240 And I put the joke with the resume.
00:11:08.000 On the bottom of the joke, I said, if you're laughing, this is exactly how my customers are
00:11:13.100 going to feel when they do business with me.
00:11:15.320 Nice.
00:11:15.600 If you want someone like me part of your team, give me a call.
00:11:18.080 Okay?
00:11:19.040 So I sent 100.
00:11:20.340 Back then it was fax.
00:11:21.340 You wouldn't, you know, there was no monster.
00:11:23.460 I faxed 100.
00:11:25.160 30 called me.
00:11:26.780 Out of the 30, 15 were just impressed by the joke.
00:11:29.680 What was the joke?
00:11:30.220 It's a good joke.
00:11:30.980 The joke was, father dies.
00:11:33.600 Before he dies, he tells his three sons, listen, every one of you, I want you to drop
00:11:37.240 $1,000 in my coffin because I want the family to know how much you love your dad.
00:11:41.540 And it's a way of paying back to your daddy.
00:11:43.420 All the sons said, no problem, daddy.
00:11:45.200 So at the funeral comes, first son shows up.
00:11:47.720 He throws $10, $100 bills.
00:11:49.820 Everybody starts crying.
00:11:50.660 Oh my gosh, you know, it's such a special thing.
00:11:52.920 Second son comes, he throws $20, $50 bills.
00:11:55.940 Oh my gosh, what a beautiful son.
00:11:57.660 Third son comes, he writes a $3,000 check, takes the $2,000 cash.
00:12:01.960 That's good.
00:12:02.780 And he walks away.
00:12:04.580 He said, I paid my debt, but he got the cash.
00:12:07.220 Yeah, it's on theme.
00:12:08.500 And the next thing you know, I get three offers.
00:12:10.500 I got three offers with Morgan, and I took to Morgan in Glondale.
00:12:13.280 That's how I got started.
00:12:13.980 There was a very significant night in your life where you met conservative columnist,
00:12:19.460 pundit, genius, George Will.
00:12:21.900 Yes.
00:12:22.560 So it's funny.
00:12:23.380 Politically, I've always been confused.
00:12:25.080 My mother's side, they believed in communism.
00:12:26.700 And my dad's side, they believed in imperialism because they're Dusha. 1.00
00:12:29.600 So it's polar opposites.
00:12:31.060 My mother thinks rich people are greedy.
00:12:32.980 My dad used to believe poor people are lazy.
00:12:35.180 I'm absolutely confused.
00:12:36.280 I said, don't even talk to me about politics.
00:12:37.700 A man named Bill Vogel took me one night, and he introduced me to George Will.
00:12:44.580 And so I'm at Miramar Hotel.
00:12:46.040 I'm having dinner with them.
00:12:47.340 And I asked George Will.
00:12:48.420 I said, George, you know, I'm really trying to figure myself out.
00:12:51.620 What do you recommend I do?
00:12:52.800 Because I'm really trying to get clear about what I want in my life.
00:12:55.720 He says, look, most people your age could care less about studying the history of what
00:13:01.580 works and what doesn't work as far as economical systems.
00:13:04.460 Why don't you go study capitalism?
00:13:06.440 For the next 18 months, I bought every book on capitalism, socialism, communism,
00:13:12.800 Communist Manifesto, Milton Friedman, Karl Marx, Rules for Radicals, you know, Adam 0.83
00:13:18.400 Smith, Wealth of Nations, Atlas Shrugged.
00:13:21.440 I said, I want to find out the math behind this.
00:13:23.720 Why is there a group that believes in this?
00:13:25.420 Why is there a group that believes in that?
00:13:26.780 And so all of a sudden, I started calling families of presidents.
00:13:29.580 I called the Clinton family, Bush family, Carter family, Reagan family.
00:13:33.700 I put an event together, July 17th of 2009, called Saving America, Doing the Impossible.
00:13:39.000 I was dressed as George Washington.
00:13:40.880 My wife was dressed as Lady Liberty.
00:13:43.060 I had another guy named Nick dressed as Lincoln.
00:13:45.420 I had Michael Reagan speak.
00:13:46.920 I had another guy speak on capitalism.
00:13:49.100 I had another guy speak on Star Spangled Banner.
00:13:51.020 I said, this is what we're doing.
00:13:52.360 And then three months later, PHP got started.
00:13:54.980 PHP stands for People Helping People.
00:13:57.000 Yes.
00:13:57.280 How did all your accumulated knowledge of capitalism and how it functions lead you to not only start
00:14:04.080 that company, but name it, People Helping People?
00:14:06.520 So you will never find a billionaire who became a billionaire by himself.
00:14:11.760 You just won't.
00:14:12.800 So that's how the whole thing came about, why we should name the company PHP.
00:14:16.900 What strikes me about the name is it's so untraditional for a financial services company.
00:14:22.060 The alternative is what?
00:14:23.720 Patrick B. David Financial Services.
00:14:26.080 Right?
00:14:26.460 If I name my name.
00:14:27.380 And some guys came and said, why don't you name the company your name?
00:14:30.960 You got Morgan Stanley.
00:14:32.400 It's someone's name.
00:14:33.220 Merrill Lynch.
00:14:33.900 Smith Barney.
00:14:35.140 Dean Witter.
00:14:35.820 It's someone's name.
00:14:36.500 Why don't you name the company your name?
00:14:37.900 I said, I'm not going to name the company my name.
00:14:39.700 PHP.
00:14:40.560 Not only are your social media numbers staggering, the number of agents you have, it blows my mind.
00:14:45.540 You know, compared to a New York life, you got like half their agents and you're one guy.
00:14:49.080 How did that happen?
00:14:50.240 What's your secret?
00:14:51.760 I wanted to build a company that I wanted to be a part of.
00:14:54.820 Very simple.
00:14:56.000 I wanted to build a business that I would want, from an outsider, I would love to be part of this company.
00:15:00.940 So what is that?
00:15:02.260 I want to own a piece of the company, equity.
00:15:05.400 Because in case something happens, I'm also protected.
00:15:07.800 Perfect.
00:15:08.200 That was one.
00:15:09.140 Two, I wanted to create an incentive program that doesn't benefit just the people that have been around for 20 years.
00:15:15.540 It benefits the small business owner.
00:15:18.320 And so I wanted to create an environment where the newest agent coming in had the same amount of opportunity as a guy that had been around for nine years.
00:15:26.220 You'll hear a lot of times financial firms say the following lines.
00:15:30.000 Our executive team has over 400 years of experience.
00:15:34.560 Am I supposed to be impressed?
00:15:36.400 Right.
00:15:36.920 When you say that to me, you know what's the first thing I think about?
00:15:39.280 That means they're golfing.
00:15:40.720 Because they're done creating new experiences.
00:15:43.540 That's the first thing I think about.
00:15:44.540 And by the way, it's not a good slogan anymore.
00:15:46.640 It used to be, not today.
00:15:48.360 Because the new generation is no longer the baby boomers. 0.94
00:15:50.680 That's the biggest.
00:15:51.560 You got Gen Xs. 0.81
00:15:52.280 You got millennials.
00:15:52.900 They want to connect with somebody.
00:15:54.320 So for us, our average agent today is a 34-year-old Hispanic female today in PHP, which is the United States of America versus just one audience that doesn't necessarily connect with everybody.
00:16:06.840 How do you connect with millennials?
00:16:09.660 Because you're kind of in between Gen X and millennial eyes.
00:16:11.720 39, yes.
00:16:12.660 So you're right in the midst.
00:16:14.680 You've got to sell it to me as a millennial.
00:16:16.320 Talk to my heart.
00:16:17.500 Stop talking to my brain.
00:16:18.980 Move me.
00:16:19.880 Get me emotional.
00:16:20.780 Make me feel like I can be part of something bigger.
00:16:22.540 If we can communicate this language to millennials and Gen Xs, holy moly, the amount of potential that we can tap into is priceless.
00:16:31.680 Well, I think you were successful in doing that with your video, The Life of an Entrepreneur in 90 Seconds.
00:16:38.900 The number of views it got in just 48 hours is mind-blowing.
00:16:43.080 Bridging the career of financial advisor, insurance agent into the title of entrepreneur.
00:16:52.520 When does that happen and what does that mean?
00:16:54.460 I was with Vidal Eyes, yes, two days ago at his house.
00:16:58.460 Not a name drop you hear very often.
00:17:00.360 No, Vidal Eyes, that's actually that name.
00:17:02.000 No.
00:17:02.500 But I got together with him and I'm sitting there saying, you know, look at this guy here.
00:17:07.280 He's an artist.
00:17:08.580 He was a rapper, hip-hop, whatever.
00:17:10.800 But that's an artist entrepreneur.
00:17:12.900 There's not a big difference because it's creativity, right?
00:17:15.920 I mean, you look at yourself, you're in the entertainment business.
00:17:19.000 We have so many commonalities with entrepreneurs.
00:17:22.560 More than anything else, it was a message to tell entrepreneurs, you're not alone.
00:17:26.480 This thing is tough.
00:17:27.700 But believe me, the glory feels so good.
00:17:30.340 Hang in there.
00:17:31.260 It's all going to be all right.
00:17:32.420 And that's what's so effective about it.
00:17:34.200 Now, I want to finish with what that video then became.
00:17:38.760 Are businesses and people defined by their social media followers and their numbers and their likes now?
00:17:43.860 Or is it just fancy packaging?
00:17:46.460 Is it just sort of a badge?
00:17:48.300 So what Valuetainment became videos, and I chose one word.
00:17:51.580 It was entrepreneur.
00:17:52.700 We make life of an entrepreneur.
00:17:54.460 And life of an entrepreneur takes off on YouTube.
00:17:56.580 I put it on YouTube, and we called it the best motivational video of 2015.
00:18:01.080 24 hours, it gets 2,500 views.
00:18:03.340 Nothing.
00:18:04.140 And I said, I'm going to change the title on Facebook.
00:18:06.280 And I changed the title to The Life of an Entrepreneur in 90 Seconds.
00:18:10.600 And I said, let's just test this out.
00:18:11.880 Two hours later, it's got 265,000 views.
00:18:14.820 I said, what is going on with this?
00:18:16.740 The next morning, every one of our websites is shut down.
00:18:20.540 It's 2 million views, 5 million views, 30 days later, 10 million views.
00:18:23.220 Today's at 31 million views.
00:18:24.620 And it goes bonkers.
00:18:26.300 That video gave traffic to the DNA of an entrepreneur.
00:18:30.280 So they went there.
00:18:31.200 From there, they went to DNA of an entrepreneur.
00:18:33.440 And then they said, this guy kind of knows what he's talking about with business.
00:18:37.040 And then Valuetainment became what it is today.
00:18:39.060 I think today we have two brands.
00:18:40.780 One brand is actual business.
00:18:42.740 The other brand is your brand.
00:18:45.460 Very simple.
00:18:46.260 You today have a brand.
00:18:47.960 Every CEO, every entrepreneur, every salesperson has a brand today.
00:18:52.440 Richard Branson.
00:18:53.640 You didn't know who he was.
00:18:54.640 And then all of a sudden, oh my gosh, this guy's going on a balloon and he's doing it.
00:18:58.160 Yeah, you're like, oh, I like this guy.
00:18:59.500 He's so cool.
00:18:59.960 He jumps out of this.
00:19:01.040 So he built his own brand and a virgin took off.
00:19:03.740 There's a darker side to it.
00:19:05.080 You're going to be exploited.
00:19:06.420 You can't have a private life.
00:19:08.300 Within 10 minutes, I can find out if you're a Republican or Democrat.
00:19:11.420 It's very easy.
00:19:12.460 I can find out if you've got kids, if you're a sports guy, who do you like?
00:19:16.200 I can get 50 questions answered in five minutes.
00:19:19.780 You couldn't do that 20 years ago.
00:19:21.400 So we're all naked today.
00:19:23.560 So today, my suggestion to everybody is, here's a company.
00:19:27.140 People want to know who's behind the company.
00:19:28.820 Tell us your story.
00:19:29.900 What do you like?
00:19:30.960 What are you about?
00:19:31.840 Tell us about your mom, your dad, your upbringing.
00:19:33.820 Who were you?
00:19:34.700 What did you struggle with?
00:19:35.980 What's your biggest challenge in life?
00:19:37.600 What do you fear?
00:19:38.380 What do you like?
00:19:39.000 What do you love?
00:19:39.700 I want to get to know you.
00:19:41.260 And the more I get to know you, the more I fall in love with the brand here.
00:19:45.160 Patrick Bet David, you're a leader of industry.
00:19:49.180 Thanks everybody for listening.
00:19:50.280 And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.
00:19:55.020 Give us a five star.
00:19:56.440 Write a review if you haven't already.
00:19:57.920 And if you have any questions for me that you may have, you can always find me on Snapchat,
00:20:02.000 Instagram, Facebook, or YouTube.
00:20:03.960 Just search my name, Patrick Bet David.
00:20:05.860 And I actually do respond back when you snap me or send me a message on Instagram.
00:20:10.860 With that being said, have a great day today.
00:20:12.580 Take care everybody.
00:20:13.300 Bye-bye.