New Business Ideas, Predicting Biden's VP, & Big Stock Market News

Good morning, friends and family, neighbors, boys, girls, children of all ages. Come on in. Welcome to capitalism and Coffee. There's a lot of capitalism happening in the world today. Did capitalism solve coronavirus? Today seems to be the news in the world. Good morning, Chantal. Good to see you. Thanks for hanging out with me. I need this sip of coffee more than. More than most days. So we are going to get right to the simultaneous sip here in a second. Good morning, Herb. Good to see you. Thanks for hanging out with me live.

Today. I'm in the mood to talk about business, but we'll talk about why that.

I think it's time for the simultaneous sip. I think Ryan needs it right now, so let's shake off some cobwebs. Let's go ahead and dive in. Good morning, Amanda. Good morning, Maria. Good to see y'. All. Let's do this. All right, let's kick this off.

Good morning, capitalists. Welcome to capitalism and Coffee. Today is Tuesday, August 11, 2020, and there's a lot of stuff going on in the world, it looks like. Is coronavirus solved? Is the recession over? Are our problems fixed? We'll talk about that. Let's talk about Biden's VP pick, and we're going to look at your new business ideas. But first, we have to do something that brings everyone together and it solves the polarization of politics, and it makes the stock market go higher. It's something called the simultaneous sip. And all you need is a cup, a mug, a glass, or some sort of vessel, and you feel fill stuff with it. I've got coffee that's needed more today than most days. And you join me now for the simultaneous sip. Go.

Oh, boy. Okay. That is making my morning better. Hey, I need your nominations. I'm starting to get some pushback in the comments for. Even though we give credit to Scott Adams, somebody who has inspired me, one of my favorite authors, for taking his language of the simultaneous sip, we're gonna need to come up with our own language soon, so I will take your nominations in the comments or in the Facebook group of the 1%. Is it the capitalism cup? Is it the. The cultish.

Something? I don't know, but I'll take your nominations in the comments and over on Facebook of coming up with our own lingo for these capitalism coffees. Okay, so, friends, listen, I'm in the mood to look at your business ideas if you've got them. So this week, I was speaking with a friend of mine who has a new business that he is about to launch, and he is taking up a product that is really popular on Amazon and he went and had an engineer do a really great version of it. Cost him a few thousand dollars. He's doing a 10, 3000 unit order and he's just a product guy who does it well. And I come in and I've got, I mean, I've got the launch plan and the marketing plan to be able to help him take this thing from nothing to a multi million dollar business. And it was so much fun, just so much fun to work with somebody who has an idea and has movement on an idea and to bring it into my marketing brain and help him scale and launch this. And I'm sitting here thinking, man, I just want to have more conversations like that. I just want to work with more product people who are excited about what they're bringing to the world because I know that I can add firepower to what it is that they want to do. That's so much fun. The reason why the capitalism.com logo is a C with a flame at the end is because I want to ignite fires, ignite entrepreneurial fires. So if you've got a business that you're kicking around, if you have an idea that has been an idea for too long, if you've got something that you want to move forward on but you can't see the plan forward, I would really enjoy having the conversation with you about how we bring this thing live. So if you are a member of the 1%, I sent you an email this morning with a link to come into the green room and to run your ideas by me. So I would love to brainstorm this with you and help you come up with a real plan behind it. If I don't see you today, if you watch on the recording and you're a member of the 1%, bring it to our next coffee or our next Capitalism Q and A and we can do it then. But I just want to set it out there that I want to have more conversations like that, more conversations with product people who have had great products that they're excited about but feel stuck in the rollout process because I know that we can turn that on and ignite that. We are going to be incubating our own ideas here@capitalism.com in two ways. We have a this, what is basically our lab, it's called Capitalism Brands. It's where my team takes their ideas and we are building and launching them together. The first one being Switch, which is a nootropic company that should be live by the end of this month. And the second way that we are just building these is we have something called the capitalism incubator, where we are training entrepreneurs to build businesses that we know can scale and sell. So businesses that I would invest in, businesses that could be partnered with influencers, and it might not be for the first round, but at some point, I'm just going to come in with a list of ideas and a list of influencers and give people the access to the ideas and the influencers and then coach them through the process of building the businesses. If you'd like to be a part of that, we still have some spots available for September. That. That's@capitalism.com Inc.

Good morning, Drew. Good morning, Susan. Good morning, Oppie. Good morning, Richard Solomon. Darius. Charmaine. Salome. Veronik. Veronik, I think it is. Hey, Alicia. Hey, Scott. Thanks for hanging out with me live. If you're watching live, say hi in the comments. Okay, so let's talk about world events for a second world event.

That was a big sip. That was a big one. I burned my mouth just a little bit. Burned my throat on the way down.

Chantal, if you would like to come live, I would. I'd love to. I would love to do this with you and Todd Bonner. My goodness. Like, it's time to wrap up. Like, it's time to wrap up your idea and go. So if you want to come on live, check your email. Come on in here into the green room. So, Chantal and Todd, I am calling you out specifically. Come join me. Let's. Let's map out your business. Hi, Georgie. Hi, Fernando. How, Wes. Hi, Valentin. Hey, Rhino. Okay. Oh, and today's episode of Capitalism Coffee is brought to you by 12 months to 1 million, the audio version. If you'd like to hear me lull you to sleep every night for the next 14 nights or so, go to Amazon.com oh, it releases today. 12 months. 1 million is now available on Audible. You can start listening to it today. So when you choose to go over to Amazon.com and add 12 months to 1 million to your cart, select the audio version, because we're currently one of the top sellers on Amazon in the Audible section. Okay, let's do this. Now.

Two things going on in the world. Number one, this week, Joe Biden is going to announce his vice presidential pick. It's supposed to be this week anyway. I think it was also supposed to be last week and maybe even the week before. So I'm gonna predict what's gonna happen now in my Mind, there are basically three candidates. They say Elizabeth Warren is a candidate. It's not really. They say that the. Is it the governor of Michigan is a candidate. No, she's not. She's not really a contender. There's really three people who are contenders to be Joe Biden's vice presidential pick. They are Tammy Duckworth, Susan Rice, and the person that he's actually gonna pick. Now let's talk about these first two for a second. Tammy Duckworth. If I'm Joe Biden, I pick Tammy Duckworth. And the reason I picked Tammy Duckworth is because you can't dislike her, you can't pick on her. She's a war veteran who is in a wheelchair, who's a little more soft spoken than some of the other people being considered. She and Biden together create this beautiful contrast to the Trump ticket, which is more soft and welcoming, but still strong and moderate. And so if you want to get the centrists, if you want to get, if you want to really contrast the other ticket, I say you pick Tammy Duckworth. But he won't pick Tammy Duckworth. Be a great pick. It would solidify the base. It would bring over Centris. It would be a softer ticket. It would be more of a. But I might say the world needs right now. But he won't pick Tammy Duckworth. Nope. The next best pick would be Susan Rice. Susan Rice would be a great contrast to the Trump ticket because Joe and Susan would be a great governing duo. They get along well. They, they have that Obama, Biden camaraderie. The, the, she has like a deep, like a deep set of experiences that contrast the legislative branch. She's more foreign policy expert, which also would kind of contrast the Trump ticket. So Susan Rice would be a great compliment if he wanted to, if he wanted to be a governor, if he wanted to position himself as somebody who gets it, somebody who is, who is not on his way out, not somebody who is just holding the spot. If you wanted to create of an appearance of governing.

He would pick Susan Rice. But it's not going to be Susan. No. Joe Biden is going to go with the person that he thinks can help him win, which is really being determined by the media right now. There's really only one person that the media is talking about, and that's Kamala Harris. And Kamala Harris was really who the party wanted from the get go. And just nobody liked her enough. She was hard and crass and well, she has that background of using government to put people in jail for nonviolent Crimes. It's not gonna be real popular right now, but the media loves her, and so he's going to pick her. And it's gonna watch for this. This is the lesson that I want you to take out of this. It's gonna look real awkward between the two of them. You're gonna have the star and you're gonna have the person that you're voting for, and it's gonna be super weird and awkward, and everybody's gonna feel real weird about it, and they're gonna lose. And that's what's gonna happen. Now, here's the lesson in all of this. If Joe Biden were to own the grandpa role and he were to position himself as America's grandpa.

He would have a shot. If he were to pick one of the vpn, one of the VP candidates who just owns who they are, they would have a shot. But they're going to try and fake this ticket. They're going to try and create a Persona that doesn't work. It's been my experience as a somewhat Internet personality and also an entrepreneur that every time you try to fake the personality, every time you try to create a Persona in order to be received differently by other people, you don't get the result that you're going for because you create this fake wall between what you really want and how people perceive you. And it becomes really difficult for you to be the person that or create the thing that you want when you are trying to create a Persona on top of it. And so I think we will see that on a grand stage over the next few months, where he picks Kamala Harris. It looks awkward and he loses as a result. So watch for that. Of course, if he picks Tammy Duckworth, I was wrong. But we should find out this week. Let's talk about coronavirus. No one's tired of talking about that, right? Today's top story. Vaccine being tested in Russia and. And cleared for mass market use.

Aren't you glad that there's another country willing to risk that?

Aren't you glad that there's another country that's like, yeah, we'll try it. Well, we'll shoot it up, see how it goes. Aren't you see. Aren't you glad that there are pioneers in other country who are willing to take that risk so we can see how it goes? Markets have exploded as a result. The stock market, we're basically back at record highs like the recession's over. Anybody who's sitting on the sidelines waiting for things to go back to normal, the Economy has recovered. Like, as far as the desire for investment, the desire for new ideas, the desire for growth, these. All of these things are. Things are easily getting funded. World's different now. But as far as the economy goes and growth goes, we are moving forward. I'm really interested to. Here's an interesting thought experiment. What happens if a vaccine works tomorrow and there's no more Covid? How do people respond? What do we. What, what are people. Are still people gonna go back to work? No, no.

Are still people. Are people suddenly gonna be kinder? Like, stop arguing on Facebook about it? No.

Kind of played this out for a second. Like the people who are already moving on are going to keep moving on and the people who are staying stuck and afraid are gonna find something else to be stuck and afraid about.

So the work is just moving toward what you want, regardless of circumstances. Alright, let's talk about business. Hey, Drew, I'd like to bring you on first. Give me a thumbs up if that's cool. Alright, let's do this thing. I should have brought headphones.

What's up, Drew? Good to see you.

What's up, Ryan?

How's it going?

Good, man. Thanks for hanging out with me. Yeah, for sure. What's on your mind?

So I, I'm shifting out of a current business right now. It was kind of a lessons learned business. So have listened to your content for quite some time, followed your path on kind of setting up a Facebook group, you know, following some product ideas and stuff like that. So.

Have had some success on Amazon and felt like I've kind of learned the, you know, the process to bring a product to market, but just kind of got burned out on what the business was. Wasn't super passionate about it. So selling through inventory right now and kind of shifting to a new brand and. Yeah, so I'm super excited about it. One thing that I like to get your opinion on though is building an audience versus going out and finding audiences to partner with. So the difficult thing for me is really finding how to develop the content to really bring people into my email list when it's an E commerce type brand. Right. As opposed to going to partnering with other audiences.

Yeah.

So first of all, I have to compliment you for the cognitive dissonance that you are giving me right now with the Cleveland shirt and waves in the background.

Cleveland, Georgia.

I've got all kinds. Like I'm sitting here going like, do I like this guy or do I not like this guy? I can't, I can't. I can't quite figure it out. I forgot there was a Cleveland, Georgia. That's funny. So, Drew, here's. You know, this is great timing. Yesterday I was having a conversation with someone because we've been outlining the curriculum that we're gonna put people through in the capitalism incubator. Our training in there is called eight figure exits. And I told my team, it was a member of my team. I was like, look, we have to find this balance of showing someone all the options versus, like, just go do this. And there's. Those are two extremes. Right. Because some people want to see all the options and keep learning. And then some people are just like, just tell me what to do and I'll do it. But when it comes to the. My opinion on just what to do, like, just go do this. My recommendation is, if you want to skip 18 months of work, prioritize 10 influencers or 10 audiences relationships rather than going out and building the whole thing. Yeah. Audience building is amazing. It's great. Like, I'll do it my entire career, because it takes an entire career. Yeah. Or you can just go partner with somebody whose career is audience building, and you can create the relationship with this. Did you see the content I did last week about the results of the funnel that we built and partnering with that audience? Did you happen to see that? Okay, so we have a funnel that has been, like, a thorn in our side for a long time, and we created a relationship with an influencer who already has the audience, already has people warmed up, and in 24 hours did more sales on this funnel than we've done in the history of building this business. So does it make sense for us to give up a percentage of the company to make that pie bigger? Absolutely, it does, because the point is to make the pie as big as possible rather than to try and control as much as possible. So if I were to take off my coaching hat and to just say, like, just go do this, I would say go build a relationship with an audience rather than to build an audience.

Yeah, I think that makes sense. You're naturally going to build your own audience, too, as a result of that. Right. So instead of me trying to post on Instagram, you know, two, three times a day, which I'm not super passionate about, you know, build that relationship with the audience, I think it'll grow naturally, too.

That's right. And I mean, if we look at this from momentum perspective, you partner with that person, you use that as an. As a. As your audience to kick off sales, then that gives you the funding to go hire Somebody to go manage Instagram or scale your Instagram. It gives you the firepower to go. Instead of. Instead of going to an investor, you now can fund the whole thing through sales, and you launch product 2, 3, and 4 a lot faster. So you just end up saving, like, 18 months of your life. And you grow a lot faster when you create partnerships rather than trying to control the whole pie.

Yeah.

Do you have. Do you. I mean, do you have access to those types of people? Do you need help navigating that? Like, what would be your next step?

So next step is I've got about three or four influencers outlined that I've. One have kind of a background relationship on. So I don't think it would be, you know, too big of an ask to say, hey, here's some free products. Let me know what you think, you know, and then also just try to provide some value to them as well to their audience. So for me, really, it's just the next step for me is product development. So I've got 15 kind of new ideas on, you know, what would help my target customer and audience. And so it's just kind of deciding, okay, what is that first one going to be? You know, getting the prototype done and sending out free samples.

Yeah. Once you have that prototype done, these conversations become so much easier because now it's not an idea anymore. It's an actual business momentum that you're bringing forward. So what I would recommend you do is this. This person that you mentioned that you have a strong relationship with. Put them in charge of influencers, have them create the relationships and bring other people to the. To the table. You focus on product.

Yeah.

And that's a beautiful relationship between the two. Yeah. All right. Anything else, Drew?

I think that's it, man.

I'm excited about this new one, something.

I'm super passionate about. So I don't think I'll get burned out as much if I enjoy, you know, the space that I'm in.

That's great, man. Well, congratulations. Good to see you.

Thanks.

All right, see ya. Okay. Myra, I'm going over to you. Sorry, Mayra, can I bring you on? Give me a thumbs up if so. All right, let's do it. Good morning. How are you?

Hi.

Good morning. Can you hear me?

I can hear you loud and clear. Great to see you.

Good. I wasn't prepared for this, but here you are. Here I am. I kind of just jumped at the opportunity.

You bet. Well, what can I do for you? What's on your mind?

I feel a little unclear. Like, moving forward, there's a lot of questions in my mind popping up all at once, so I'm just gonna try to go for one. I started my business finally.

And I started with the Puerto Rican seasonings, Adobo and Sazon, and it's going very well. Like, people are loving it. They love the flavor. I've gotten great reviews so far, and I guess. I guess scaling is my biggest unclearness right now, because I'm investing pretty much, you know, my own money, whatever my savings are, whatever I just saved from. You know, I have a day job, which I'm working right now. Nobody needs to know.

And just investing whatever I have.

So I only have, like, a limited amount of products, you know, so it's just a little frustrating to kind of think big when the amount is small. So I don't know. I just. I'm just here to maybe get clear on what could be the next step to kind of, I don't know, move forward.

What. What. What would you like to have happen?

Well, I would like, honestly, to have a big variety of Puerto Rican foods available for people that are a healthier option. I started with the seasonings because I just thought that that was something simple, and it's really key. You know, it's one of the key ingredients. And then I would like to just be able to create more. Like, the sofrito is something that goes in the fridge. So trying to figure out, how am I gonna manufacture something that goes in the fridge and then kind of move forward with that, like creating the doughs to make the pastelillos that everyone loves and arepas and things like that.

Okay, great. So basically, where I'm. What I'm hearing you say is you have the thing that you'd like to do way up here, and you're feeling here, and where you feel stuck is you're just seeing the cavernous divide between those two things, and it's making you feel stuck and spinning your wheels. But let me give you. Let me give you a great example of someone who does this. Well, you might have received the 1% box when we did the feature on flat Flavor God. Flavor God is a seasoning company that just owns the space of weird, weird spices. They just do a great job with it. And there's absolutely a brand for Puerto Rican foods, Puerto Rican spices, Puerto Rican mixes. And so for you, it becomes about owning where you are right now, which is that you've got a few spices, then building the brand and the audience around that, being cool and fun, and you're sitting in a really cool spot right now where that's possible. So do you have an audience? Are you partnered with any audiences or are you creating any content right now?

I am in the process of all of that right now. It's kind of.

What does that look like? What is in the process means? Because most people say in the process and that means they've been thinking about it for a long time. Oh no.

Well, you know, I'm collecting emails.

I'm launching my the Kindle book for the recipes and you know I have an opt in for that. So before sending them to Amazon, I'm collecting emails with that.

Yeah. And my Facebook group just keeps growing. Word of mouth people, you know, every time someone buys the seasonings, they're sharing it. So then more people are joining and liking my Facebook pages. Instagram, it's is growing everywhere.

Good. And are there sales on the spices?

Yes, there are. Like.

The first initial bundle is almost sold out. So I'm in the middle of good ordering and all that.

Good. So I mean you've got momentum.

Yeah.

So where do you feel stuck that if we unplugged it would would allow you to move forward faster?

I don't know.

So my guess, my read on you is that you feel stuck because you think you should be doing something different.

Yeah, I feel like I need to be doing something more than what I'm.

Doing.

And like I want to see everything already ready. Like I want to see the website with all the seasonings, like with everything where people can just purchase it and that's it. Like right now I've been doing messages. People just message me, we change information. They PayPal me the money and I send it.

That's great. That's great. So, so when, when somebody's in that mode, I recommend simplifying rather than doing more because you've got stuff that's working, it's just in opposite directions of each other. So your job is to simplify as much as possible to give you the momentum to be able to do the next piece. So this would be my prescription for you. If I were you, I would put your product on Amazon so that you have ease of sales.

That's the only reason why it's just for ease of sale. You can send them a link and they can buy it rather than them paypaling you the money. So that's round one.

Round two is now that you've got sales out of the way, I would be building relationships like you're doing right now, following up with the people who have ordered in the past. Go going to the people who are sharing your content and continuing to build those relationships. When that group of spices or products on Amazon is doing 25 a day, now you can think about product number two and later you can think about the website and the big strategy. But you've got momentum now. Your job is to not do anything that gets in the way of that momentum, which is what your brain is telling you you should do by building websites and going down all these other rabbit holes.

Yeah.

Does that make sense?

That makes sense.

Can I just.

One more question.

Yeah, yeah. But I want you to process that out loud because I can't tell if you believe me or not.

No, I believe you, definitely. And I can. That, that makes me put like, that puts my mind more at ease and I'm doing just fine. And just. And it's funny because that was. I was already looking into doing the whole Amazon thing, which I have no idea how to even start. But I'll do it.

That's fine. And even if it's not Amazon, you just need one simple way to collect sales. Yeah, like so many people make the sales process so damn complicated. They build complicated funnels and complicated websites and they're like, as soon as this is done, I'll turn the money on. But you turn the money on by putting a frickin headline and an order button. All of the sales happens off the sales page.

I mean.

The sales happen before somebody hits the page. And so having this complicated sales process just delays your service to the customer, which is that they just want you already generated demand. Let them have the thing they want. And so Amazon's the easiest place for that. There's other routes for that too. You just need a simple way to be able to collect that order. And that's, that's where my attention would go for you. Because it will free up all of this other tenseness for you to make more recipes and go more in on your group and get more focused on those people, which will allow you to scale this thing faster and give you the momentum and the clarity that you're craving right now.

Okay. Okay.

Also, what's the name of the brand?

Healthy Rican.

Healthy Rican. Would you spell Rican? R, I, C, A, N, R. Yes. All right, cool.

And it is. I'm sorry, but it is. Myra, when you said it first, you said it correctly, it just felt that.

Got it. So Myra, can people order it somewhere? Do they need to reach out to you to order it?

So the website was finally done after I'm Almost sold out, which is interesting.

But yes, it's nutritiondork.com HealthyRecan. Oh, wait, that's for the book. I'm sorry.

Okay. Where can people eat your food?

Your food? So, yeah, it's healthy Rican, not healthy Rican. Oh, my God, I'm so confused. It's nutritiondork.com adoboandsason that's the.

That's easy to remember. Everybody just type that in right there. Okay. So, Myra, go get yourself a new domain that will redirect to that sales page and post where people can order it in the Facebook group and in the comments of this video so that people can support you. Got it.

Sounds good.

All right, cool. What was your second question that you wanted to get to?

So my second question was, it's kind of like as you were talking and as I envision stuff, like a lot of fear comes about, and I always wanted to ask you this. How do you deal with criticism and all this trolls on Facebook and the comments? Because there's a brand out there that's pretty similar to mine, and, you know, they've been questioned if they fought, if they. You know, with the whole Goya boycott and everything. Like, people want to know if I'm a Trump supporter or not and all this. And I'm like, I don't feel comfortable. I don't. I. I don't want to explain that to people and just be, I don't know, judged, I guess, because my, you know, whatever politician I follow, I feel like that's stupid. But there's a lot of that going on, and I just. It creates a lot of fear because I, like, one negative comment just throws my energy off for the whole day. So I'm just wondering how to deal with that once I get bigger.

The way that you deal with it is by not taking it so seriously. I get flack all the time. And this is true. Myra. I am not at the point in my development yet where it bothers me. Zero. It bothers me 1.5.

So it still bothers me. And my way of dealing with that is I mess with the trolls, right? And, man, do I have fun with it. Like, I mess. I mean, like, I agree with them. I screenshot them and post them. Like, I just. I play with it, right? Which is. Which is 1.5 immature of me. If it was. If I was totally resolved, I would just feel. I would just feel sorry for them. Because the only reason why somebody casts hate is because they feel hate, right? They cast judgment because they feel judgment. The only Reason why you interpret judgment and hate is because it's going on inside of you, right? I have. I have a lot of problems with Donald Trump, but I have way more problems with the interpretation that people have of Donald Trump because everything that he says is interpreted through a lens of receiving hate and judgment. That is, that says something about the people who are interpreting him, not about the man saying it. Now, we can say blots about the man, too, but our interpretations of other people, that's our stuff. And other people's interpretation of you, that's your stuff, right? So if you're good, other people's opinions don't matter. And so there's two things that I would recommend. One, you control what you focus on. Because if what you focus on is how proud you are of your products, how excited you are to be an entrepreneur, how much you care about your family, the fact that the world is spinning in perfect proximity to other planets, like, these are things that drown out the little tiny thing of comments that candypants94 said on your. On your YouTube comments.

That's number one. Like, what you focus on controls everything. The second thing.

Myra, I'm telling you, life gets real good when you just tell the truth.

And the truth could be like, somebody says, are you a Trump supporter? You say, yes. You say, no. We play out both scenarios.

You say, no, I'm not a Trump supporter. But, man, am I glad that the CEO of Goya is, because I just got a whole lot of market share. So if any of you are looking for some new Hispanic recipes, my website is nutritiondork.com you don't have to judge. You don't have to judge the President. You don't have to comment, like, give any commentary. It's just like, this is in the news. And I'm so glad because I believe in my stuff so much that I just got new market share.

And let's say the answer is yes.

Do you support the President? And you say yes. And I also love Goya's cookies. They go really well with my such and such a recipe. It's just ownership of where you are and what you do. And, like, I'll tell you what, like, I've never even noticed. Like, I've not known anything about Goya before all of the news. Like, but now I just see them everywhere. And I don't. I don't like when people boycott groups because of their political opinions. So I find myself buying more of Goya's products as it's like, seems fine to me. I don't have a problem with. I don't care who the CEO supports for president. I don't care if it's Biden or Trump or Joe Jorgensen or like, I just think it's weird that other people are boycotting a business because their political beliefs. So I actually want to support. Support it, even though I don't care about their political beliefs.

So life gets real good when you just tell the truth, whether it's you stand on this side or you stand on this side. The reason why you feel this stuckness is because you're afraid of owning where you are and going in either direction. And so it just feels like stuck energy. If you're just good with however the chips fall, you just get to play and life gets real good from that space.

Process out loud.

To process that out loud, you said.

Can you process that out loud? Like, what's going. How do you. How do you respond? What's going on for you right now? When I say that?

No, I agree 100 and I can feel the stuckness, you know, right here in my throat chakra, where, I mean.

Chakra theory would say that when you feel stuckness in your throat chakra, it's because you're not speaking up.

Yeah. And I am not. And I'm kind of, like you said, staying in the middle and kind of staying out of it. I'm like, you know what?

I really don't care for politics. I never have. So why do I need to choose a side now? I don't have anything against Trump. Like, it's just whatever, you know, he. He is what he is. And, you know, I kind of like him, actually, because he's honest. You know what I mean? I prefer having someone that's honest and just spits out whatever he thinks than someone that's just bullshitting me, you know, and just hiding the truth.

Myra, if you said exactly that.

It.

Would be your most viral piece of content you've ever done, and you would have people reaching out to you, wanting to pre order whatever product you've got.

Aussie girl is back, by the way. She loves your stuff.

Yeah. So HealthyRecan.com is what's coming in next. I just had an issue with getting the domain that should be the link where people can go.

Like, I'm telling you, I don't care what your political beliefs are. I don't care what any of your beliefs are. I just care that you can own whatever it is that you believe and that you feel good about whatever it is that you believe. And if you Share from that place.

Other people will flock to you.

And so I'm encouraging you to give yourself permission to operate from that place. And I promise you, you will get more hate and you will get a lot of defenders and super fans.

Yeah, like not too long ago I got super hate.

And then, and then your job, Myra, is to only focus on the super fans.

Yeah, got it, got it. I can't keep doing what I'm doing because one super hateful comment threw me off the whole day one time and I almost quit. I'm like, I can't do this.

Yes, you can. I mean, you don't have to focus on them. Focus on the super fans. Speak to them.

Sounds great. Thank you.

All right, Good to see you, Myra.

You too. You too.

All right, let's go over to Adrian. Adrian, give me a thumbs up if you is ready. All right, let's do this.

How's it going, Adrian? How are you?

I am quite well, thanks.

How are you?

Very well, thanks for asking. What can I do for you?

I am in a very unique position that's kind of uncomfortable for me. I'm new to entrepreneurship. Well, not really. I've tried a bunch in the past, but my buddy and I randomly came up with a first to market idea through it on Kickstarter. We got 420% funded. We've already delivered the product. It exists. I've got 2000 units in my garage that I'm gonna drop off at Amazon next week. And now I have no idea what to do.

That there is a ridiculous amount of interest, a consultant that we used during the campaign who's already got games, by the way. It's a game thing. Just the brief pitch. Usually when you win a game, you just kind of win, right? And if you lose, you just lose. And if you're tired of a game, you buy cards for it. But those cards are only just for that game. We developed an expansion pack you can add to any game on the shelf or any game that's ever been sold. You add our product to it and it makes it more fun. It's never existed before. And our consultant is like, hey, I've got two games in big box retail. Give me 20%, I will hook you up with my distributor and they will sell you millions of copies and you just kind of retire. And I was like, okay, but that's if I pay him and then go through a distributor and whatever, maybe I can do it myself. So that's when I picked up the book a week ago. Loved it so much. That I signed up for the course and here I am.

So I'm literally glad to have you. How did you find out about the book?

Amazon suggested I do a lot of reading. Tons and tons of reading. My mom was a librarian, so it's kind of like in my blood. And just the suggested Amazon thing. I read some of the reviews, hint, and I was like, oh, hey, this is great. Let me buy it. And it's fantastic.

Great. Well, thank you very much. I appreciate it. Now, so listen, the question that you've got to answer is, is the pie bigger as a result of this partnership that you create, or is the pie bigger if you do it yourself? Not your slice, but the total pie? Now, from what you're telling me, it sounds like you created a great product. If you go on your own, you don't really know what it looks like. You don't really know what the end result is. If you create a partnership that is a win for everybody, there's a really clear path to victory. And the thing that's keeping you stuck is you running the numbers of like, well, then they get this cut and they get this cut, and they get this cut.

My suggestion would be to offer a proposal that's a win win for everybody, which might look like vesting shares. Vesting shares are like, if we hit this number, then it fully vests. If it doesn't, then I keep my equity. And if you can accomplish the goal that you have of having a multimillion dollar business through one partnership, you won.

So they want to license the product. I retain the ip, right. So in my brain, because I know nothing about licensing or anything like that, in my brain, I'm like, okay, well, they go out and sell millions of copies. You're technically building the value of my brand. And eventually I can just sell you the brand when you're tired of paying me royalties or eight figures or whatever, right?

Yeah.

So it's not really so much me doing the math. I'm not a math guy. I'm a creative guy. I don't like numbers. My partner doesn't numbers. I do the ideas. And for me it's just like, well, wait a minute. If you say yes to something, you're obviously saying no to something else. So what do I do? As an example, I had a little bit too much chardonnay the other night and I applied for Shark Tank. I'm like, hey, this is a good idea. And the next day, the casting agent emails me. She's like, I need to have you interview. This is an awesome idea. You have a great personality. You can be on camera. I'm like, okay, well, these guys are pressuring me to sign a licensing agreement so that they can push this in Q4, because that's when people spend money, right? And it's a 1999 product, right? So it's like, right in that area. And I'm like, well, wait a minute. If I go with this agreement, maybe I'm going to miss out on being national television and potentially getting, you know, one of those guys to invest or whatever. So, because it's uncharted territory, I hunt hackers for a living. I'm an IT guy. This whole retail space to me is like, well, wait a minute, hold on. Learning curve, you know? So that's kind of why.

I mean, so first, first of all, I want whatever you're having, because it sounds like you're just kind of person who can decide what he wants and it comes to him. So I will have. I'll have four, please. Adrian.

Indecision is crippling.

Choose something. I do full court press and then I move on to the next thing.

That's amazing. I love that mentality. So, I mean, it sounds. It sounds to me like you're just evaluating multiple different good options. So it's phenomenal. If it were me, I would put together a proposal that was win win for this relationship. And what's win win for that relationship is going to take two to four weeks for you to flush out and for you to come to an agreement on. It's more than enough time to find out if you're going to end up on Shark Tank. Right. You're going to find that you're going to have that scheduled within two to four. Two to four weeks. You'll at least know if you're moving on in the process. So that buys you some time. And even, like, let's say you do both. Let's say you create a licensing agreement that gets you starting to be distributed nationwide. Then going on Shark Tank, you're just more likely to get a deal and raise the valuation of the company.

I mean, your job is done. You created a great product.

Number two, you create great relationships that allow you to distribute and scale that product. And you're doing that right now, and you have people competing for it. So if I were you, I would. I would welcome these conversations and not try to figure out selling it on your own. You've got too much momentum in the other directions.

Yeah, that's what I've heard. Because even the consultants like, well, Your other option is do it yourself. You're gonna need 30k a month in advertising on Facebook and this and that. Whatever. I'm like, I mean, I don't want to second mortgage my home so that I can potentially get roi. So I'm thinking since I'm an ideas guy, maybe go with the licensing now, get some more liquid assets in my pocket and then come up with the next idea with that and just move on that.

I fully endorse that plan. Adrian, that'd be my recommendation.

Great minds, great work.

All right, Adrian, anything else we can do for you?

That should do it. Thanks so much.

All right, man, Congratulations. Keep us posted. Okay, we'll do. All right, thank you.

All right, we're gonna actually over time, so Valentin, I'm gonna hit you. Wes, if we've got time, I'll come to you because I'd love to hear an update based on our last conversation. But let's, let's move quickly. Valentin, give me a thumbs up if you're ready to come on live. Alright, let's do it.

What's up, Valentin?

All good, man.

How you doing?

Doing good, man. What can I do for you?

So I have a pomade company and.

I started a what company?

Hair products. Pomade company.

Got it. Okay.

So I started this a couple years ago and it's called Social Co Pomades and it's all most wanted posted like retro.

Hey, Valentin, we can hear your wife, girlfriend, partner real loud and clear. So.

Keep going.

I learned. I moved.

I moved.

I don't move her.

Valentin, we've. We have lost you. We've lost you since you went outside. Valentine. I'm gonna take you off and go to Wes and then I'll come back to you. Wes, give me a thumbs up if you are. If you're good to come on.

All right. What's up, Wes? Good to see you.

Hey, Ryan, good to see you. How you doing, man?

Doing good, man. Thanks for coming back.

Yeah, definitely. I just had a question. So like, I guess kind of a follow up since we last talked was so I reached out and I've been speaking with the formulator and I'm just having some different questions as far as where to go from here. So I got a scope of work that basically the, the formulation is going to cost around ten grand. So I have no frame of reference on if that's the price point, if you know, if the guy is trying to shoot me over or something or. And then on, on top side just. I kind of wanted your opinion on that. And then on top of that is now I'm looking at, okay, well, then how do I finance it? Because if I want the formulation as of right now, it's kind of like, okay, well, formulation or product in terms of capital at this.

At this point, remind us a bit about the product.

Yeah, so my. My first product was gonna be a food craving supplement to help reduce food cravings.

Yeah. For formulating, that should be free.

It shouldn't cost 10 grand. Okay, 10. 10 grand to formulate a supplement. I've never heard of it that high. I mean, if you've got a. What. All my experience has been is going to a manufacturer or broker telling them a loose idea of what I want to do, and you already know half the ingredients that are going to be in there anyway. And then they come up with the specific formulation, and we do an order.

You don't.

You don't have to pay anybody to formulate that for you. There's. There's people on staff at every supplement manufacturer who will help you. Who will help you come up with that.

Okay. I mean, I guess because this guy came, like a referral, like, through the group and stuff. And so I was. I was just. And he sounds like he really knows what he's talking about. So that's just kind of what I was wondering, as far as.

I'm not doubting that this person knows what they're doing, but it's just an unnecessary step for you in the process.

So if I were you, I would go get a prototype made, and then when you've got sales, go back to the expert and say, what do you think of this product? Like, could you make this better? Can you beat what I can do on my own? Because if so, let's talk. Because I'm selling 50 units a day, and if they can't do better.

Don'T.

Pay them the ten grand. But there's just. There's just no need for you to go through a $10,000 formulation process at this stage of the game.

Manufacturing supplements. Like, there's. There's someone on staff at every manufacturer who does that.

Got it?

Okay. I mean, so that does make sense. I guess my fear was that if I. So I kind of had this idea that it needs to be perfect out of the gate to really work, or else I won't get momentum. So that's kind of how I had built in my head. And originally when I was having these conversations, I was expecting around, you know, maybe a grand or two, maybe even three or something, or four to get it formulated and then half up front. And I would have been fine with that, but just when it, when it came, like, when it came to that, I'm like, okay, well, I like the idea of working with the guy, but I don't know if it basically was giving me so many more decisions on now. Okay. Because I was prepared to just launch on my own versus using Kickstarter. I'm like, okay, well, do I Kickstarter now? Or like it was giving me so many more decisions to try and make. But like you said, I was also kind of pondering just maybe just going with something else that can be good enough for now and. And then maybe going back later.

Yeah. So if I heard you correctly, you said that if you work with this person, it opens up a new set of decisions that is more stressful than doing it on your own. Is that right?

Yep.

So what do you think my answer is going to be?

I know your answer is not that way.

Yeah. Yeah. Any. Anytime you make a decision that adds more stress to the process, it's usually a good sign to not go that route.

Yeah. Yeah.

Okay. Then I'll keep reaching out to other manufacturers and see if I can find. Do you. So you said you got. Your first run was like a thousand, right?

Yes.

Do you happen to like, are you able to refer a manufacturer that would do a thousand units? Whenever I'm talking to them, they're always like minimum 250, 000 captures or whatever. I'm like, okay.

I have, I have three. I have three manufacturers that I've worked in with in the past that I've had good relationships with. One is called Catalyst. They're out of Atlanta.

Okay.

There is dne, they're in New Jersey. I. I don't know the website. It's like DNE Nutraceuticals or something like that. They're out of New Jersey. And then the third is in of. I think it's Innovative Nutrition out of ARC, out of Arkansas. They're really good.

And anymore. Now we have a broker that we use who is a. Who is a formulator. He helps us formulate, he waives us his fee, and then he takes a broker commission on whoever he refers to as a manufacturer. So there's like, there's so many supplement suppliers out there, but those are three that I've worked with with good results.

Okay, cool.

There's one more. There's. There's also Adept. They're in Scottsdale. Adept. Adept does a really good job too. And they'll formulate as well, cool.

Okay, then I will look in that direction then. Thank you.

All right, man. Good to see you, Wes.

See you. Take care.

See ya. All right, Valentin, you ready for us again? All right, let's do this.

Hey, Valentin, let's talk hair.

Let's talk about hair.

Looking good, right?

Let's do it.

So I got this product, it runs good. I got manufacturing, I have a partner.

And you hear me loud and clear.

There you go. Okay.

So I started it up. We were out there riding motorcycles. We were living the life, documenting as we're going. And I had a product we, you know, doing pop ups at these kind of meets at hot rod places, wherever and tattoo shop wherever we got that kind of style and demographic. There's a lot of guys, old school back slick, kind of like that look, right. So that kind of went off because I had, I had my kid and I started to get other obligations and everything. So we kind of tapered off a bit and I started taking on other jobs, taking back clients again. Because I was doing that product, I knew it was the future. I got to get into products and the partner is very successful. So he has manufacturing, fulfillment. But now I open my, you know, you open my eyes again. When I joined the 1% and I realized I got to get back on this. So now some starting up again. I realized that I have kind of like they're a little bit cooler now, the audience, because I haven't been posting and doing stuff. So what do I do? We are focused on barbers. Do I focus on influencers? Do I focus on Amazon because we got like 22 killer reviews. Do I focus on running ads there, setting that up, optimizing, like where do I focus and doing it the Ryan way, you know?

Well, I mean, it sounds to me like since you've got other obligations and other things taking up your time, that we need to go for a real 8020 approach. And so that means biting off as much as we can without monopolizing our time. And so I would not recommend that you learn ads and learn a bunch of new stuff. We need to get you some momentum on this. And so there's two approaches that I would take to this. If you've got an audience already that was responsive in the past, then I would offer to send 10 super fans your product in exchange for before and afters and or video testimonials. Those become your content forever. You're creating content for that group right now. And if you decide to run ads, there is no better ad than what your customer can say about your product. So you just run that as your ad and now you don't have to make up anything. You just run the very thing that your customers are saying about you. Yeah, that's good. So that's the first thing. That's how you would warm up the audience and how you would also get assets to create more sales. The second thing that I would do is would send product out to people that are your ideal target market that have followers of around 10,000 people and if they start posting about it, it's an immediate boost of momentum in sales. Okay. I would skip the Barbers, I would skip learning complex ads and I would just go after the immediate audience that seems to be very well defined and I would get them to talk about it through before and after photos and by leveraging their social media platforms. That would be my next step for you. Okay, how does that feel?

It's kind of like it was something I was putting towards the end more. Cause I have been. Wait, like I've worked with marketing, I work with brand, I come from branding. So I can create these awesome looking brands but then to get them out and sell them, marketing I can do and I have, you know, I have VAs that kind of do it. So I understand the strategy and here's the stuff. Maintenance is not my part. I'm a starter. I've done the whole Colby test. I know my numbers, you know, very high.

What are your numbers?

I'm like pretty, I'm like a eight or nine in the beginning. Like so I'm a super starter. Some visionary have ideas, all that but maintaining it just, it just. That doesn't work. That's not me.

And you said you have, you have partners on this, correct?

Yes.

Charge of what?

Manufacturing and fulfillment.

Okay. So they're, they're in charge of the product maintenance and you're in charge of new ideas.

New ideas. Sales to getting out to market.

Yeah.

Alright, cool. So you're getting out to market. Plan is creating those relationships with your customers and with those people who have social media followings.

Okay.

That's, that's your next step. Your brand is probably already good enough.

The product's already good enough. So you're done. It's time for your new idea. And your new idea is how you're going to bring this to market and you do that with the customers that are already following you and a few other people that are your target market within your sphere of influence.

Okay.

And I got two more products coming. It's a beard oil and a anti Dandruff. Like black mud shampoo.

Great.

So do I wait with that or I just, you know, get the first.

Product to 25 sales a day. Yeah, get. Get it on Amazon. Get your customers to give you feedback. Go after a small sphere of influence and get it to 25 sales a day. Now you have the momentum to release products two and three.

Okay.

Do it again.

Do it right.

That's right.

All right.

And check it out. It's Unsocial Co. What is it?

Unsocial co. Yo.

Exactly.

Unsocialco.com. you got it, Mountain.

Awesome. Thank you, brother.

I appreciate you.

You too.

All right, Capitalist. That was fun. Great. Thanks for your participation today. I love these conversations. So if you are watching this and you have a business idea that you want to talk out, please come join us inside the 1% capitalism.com 1 and we're live on YouTube Tuesday and Thursday, so make sure you're subscribed to the channel. Thanks for watching, everybody. Watch for Joe Biden to pick Kamala Harris this week. And the stock market is hitting record highs. So get off the sidelines, not just investing, but in your businesses. Things are great when it comes to the economy. The only reason why the. The the economy would be bad is if you're using it as an excuse to not build what you want. If you want change starts with you, not with the economy. Thanks for watching, everybody. We'll talk to you soon. See ya.