Kylie Jenner Is A 21-Year Old Billionaire #TheOnePercent

It's not even like this is the first time that a Jenner or a Kardashian has gotten rich building a physical product. Kim Kardashian did it with my buddy Brian lee shoedazzle back 10 years ago, and her audience was a lot smaller back then. And so the reason why we go through all that hard work of identifying who is, who is this, who is, who's this ideal core person is because if you go out and get the person or build the people that have that in one place, then this process just.

It goes. It takes one free person to create change.

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Hey everybody. Ryan here. I hold a workshop at my home called Eight Figure Exits. You can find out more at capitalism.com 8 but this is a clip in which we talked about Kylie Jenner becoming a billionaire. World's youngest. I forget what all the accolades are, but she's a billionaire at 21. That's all that matters. And the interesting thing is that she didn't do it because of a sponsorship deal. She did it because she has a physical products brand and she has an audience. And when you bring those two things together, magic happens. And that is a big, big mental hurdle for a lot of physical product owners and brand builders to get. So this is a clip from me giving that brain gasm to this group of people that came from all over the world actually to hang out for two and a half days and work through their business. Enjoy. Kylie Jenner is a billionaire. Kylie Jenner is now the youngest self made billionaire ever in history. Why?

Yeah. Do you know what her product line is?

What'd you say?

The little kids.

Oh, the lip kits. Yeah, it's. It's a cosmetic line. Did $350 million last year in sales. And I don't mean I'm obviously not her target market. Must have some sort of weird habit that you all don't know about. But.

Are the products that great or that different? Is there no one else who could do a lip kit? Now, when I've asked this in front of other groups, I've been told they're great and people love them. Awesome. But the audience is the distribution play. She's the distribution. She's the audience that comes in and lights that on fire and creates a $350 million company. And just like the exercise that we went through this afternoon, it's a group of people that want to be a certain way and Kylie represents who they want to be like, popular on social media, popular for physical appearances. Posh, rich.

Young. She's the ideal representation of who those girls want to be like because she has the distribution to that audience. It's simply a matter of plugging in products that allow them to be the.

Hero in that story.

So she could theoretically launch any type of product she wanted to that group of, to that audience.

And I don't know if you have goals of being a billionaire. Most people don't. No one put on the board that.

Was on their dreams list. So it's not like you need to go get Kylie or the Rock as we used to talk about. It's about going and getting that audience that you either build. How long take Kylie Jenner to build an audience? She had some help.

But. And by the way, it's not even like this is the first time that a Jenner or a Kardashian has gotten rich building a physical product. Kim Kardashian did it with my buddy Brian lee shoedazzle.

Back 10 years ago and her audience was a lot smaller back then. Still influential obviously.

But that is what launched that to be now whatever. I don't know what the revenues are on that company, but a really, really successful company for people who wanted to be like that.

And so.

The reason why we go through all that hard work of identifying who is this, who's this ideal core person is because if you go out and get the person or build the people that have that in one place, then this process just.

It goes. And one of the reasons why Amazon sellers in particular get so stuck is because the only thing that's in their control is like the little tweaks in the sales process and then the only thing that they can do is launch more products through it. And so you have increased competition.

Because everybody is trying to play that game rather than going out and building a real business with an ideal market and a core group of customers that if they went out and did that and communicated in a way that got them to buy into what you were doing. Alright, Three to five products put through the same sales mechanism. Great. That's a million dollar business in three months, no problem. And there's no begging for reviews. There's no.

You don't, you don't have to differentiate on the sales channel anymore. Do you know what I mean by that? You don't need to be different than the guy or the girl above or below you. The keyword rankings. You were different when they clicked the link.

And so now all the rest is spillover traffic, meaning you can use that firepower to rank for keywords and everybody else who finds you. What we call organically is bonus. But you don't let the tail wag the dog on that. Which I think is the right way to say that you don't make your decisions the Platform. You make your decisions on the core group that's behind it, knowing that they will distribute to everyone else. That's why Kylie Jenner is a billionaire. Kylie controlled the whole audience, launches a product to that and now.

Can build a billion dollar business out of that.

That makes sense. It's the missing piece that no one in this world focuses nearly enough attention on. And you can either build it, which is what most people do, and if you decide to do that, then you go super, super micro. Because the idea of now becoming a, an Instagram page when your core competency is developing products doesn't make any sense. So you can either hire it or go super micro. And that's like your insider hundred to three hundred core raving people. And that's a grind. Just like everything else.

You'Re calling them, you're recruiting them, you're putting them on social media, you're ordering pizza and telling the guy to get in your vip. I mean, it's a grind to go that micro or you skip it and you pay for it.

And by pay for it, meaning you go to the people who already control that audience and you work, you build relationships with them and you bring your system into their system and money shows up.

Makes sense. So that's how you all get. That's like if you are not at or near a million, that's how you get there really, really fast, dialing in those three pieces. And from there it becomes about scale.

And optimizing the things that then you optimize for the things that you do really, really well. And then you have a company that has a moat around it. Because when you can optimize for these three pieces, this three or five hundred person audience now becomes a three to five thousand person audience.

Now you're starting to scale.

Your product line of three to five products becomes five to 10 products. You're scaling, you're optimizing this, Then you add in one more sales channel, then you build the funnel for that.

What questions do you have?

How do you approach those influences? What's that?

How do you, how do you approach them? You go for the smallest yes possible. I mean, first of all, it's like how do you talk to a girl in a bar?

What's that?

Yeah, exactly.

It depends. How do you approach an influencer? So last week I was after the backroom meeting, there's a company that I'm really interested. I told them my whole like end game with the backroom is to create partnerships where I can help the company grow. And I have a Vested stake in the business. So there's one company that I'm, you know, I've told them I'd be interested in joining what it is that you're doing. And I happen to know an influencer in town that is a perfect, perfect fit for that, for that business. So I set up a lunch date between myself, the owner and the influencer. And it's interesting because they both want some. They both want something that the other person has.

That person with audience knows that they're good at this thing, but it's worth a lot less if it's not partnered with these other pieces. And the person, product people and salespeople are like influencers.

And it's like, oh, what do you know? It's like the world conspires for us to work together. It's like the whole world conspires for us to focus on what we do best and go find the people.

That.

Do it, that do what they do best. Which is why when I'm going into a relationship with an influencer, they're like, all right, what are your expectations? My expectations are for you to be all in on what you like doing and you serving your audience and talking about my product when you want to. They're like, huh?

I mean, we can talk about like three posts a week, but if you don't feel like posting, I don't want you to post. Go do your thing and we'll do ours. And together what we're building will be a lot bigger together. The alternative is, of course, to hire the person who builds the audience and pay them out of cash flow and you get to keep the equity.

So this is, it's a. This is chessboard. So the approach is.

I saw that you do this and that you like this. Can I send you this?

It's always best. Any relationship is best when there's an introduction. So if you find your way around in, that's best. And it's a long game. So relationships are a long game, just like marriages.

So are you talking about building long term relationships with influencers as opposed.

As opposed to what?

Well, what everyone's trying to tell you to do online. You know, it's just like, find an influencer, pay them, have them do posts, and boom, you're done. Now move on to the next influence.

It's just like that is. That is. I would. I do, you know? Yeah. Who in the world enjoys that?

Yeah, I mean, I. So besides, there's so one asterisk. If you are.

Do you guys know the company? Shreds. Shreds was a supplement company that right when Instagram was getting big, all they did was bring on hot girls and ripped dudes to post on Instagram, build audiences and talk about their company. So they, I think they still exist, but I don't think they have any of those relationships anymore. They got banned from Instagram.

So let's look at this. Their whole strategy was Instagram, the whole thing.

They were not good at sales channels, their Amazon presence was horrid and they didn't even have good products.

They were all Instagram.

So their model was more like what you are suggesting, which is we have one input, it's Instagram. That's how we grow. And the way that we'll continue to grow Instagram is by going to other Instagrammers to talk about our Instagram. So going platform to platform, meaning going within the same platform. If your goal is to build an Instagram following, then that model works just fine. So if you look at, I mean if you look at any of the people who do what I do, the Tai Lopez's, the Gary Vaynerchuk's, a lot of their audience building is paying other influencers to talk about their Instagram to get the new followers. That makes total sense, right? Your goal is to grow the platform. It's just like me going on other podcasts to put me on their podcast to grow my podcast. That's how that happens. Me doing collaborations with other YouTubers to grow my YouTube following. But.

That does not increase sales. I now have to convert them from audience to sale, which you can absolutely do. But just getting a influencer to do a shout out about your product and.

Hoping that it increases long term sales.

Can have a short term effect. But I don't think it's any way to build a business.

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