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

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).
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.
00:07:02.440 This fucking guy in a suit.
00:07:03.760 This is impressive.
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.