SHIFT Your Mindset: HOW to Lead Business Success and Impact Lives with Daymond John & Jay Abraham

Foreign.

I'm in Silicon Valley for the seventh annual Global Entrepreneurship Summit at Stanford University. Last year, President Obama named me as a Page Presidential Ambassador for Global Entrepreneurship. The page program has three pillars. Increasing access to capital, education, and mentorship. I had no idea about the power of Shark Tank. All around the globe, people from all around the world, 170 countries have been coming up to me and telling them how Shark Tank has helped change their lives.

One of the best ways to help the Cuban people succeed and improve their lives would be for the US Congress to lift the embargo.

And a few months ago, I joined President Obama on his historic mission to open the doors to Cuba.

We've got a shark here named Damon John.

We empower the Cuban people through technology and business. For the first time, their right to have a business was recognized by their government.

Welcome to the United States of America.

And now I'm here at this year's summit to help showcase the best in entrepreneurship in America. I'm here with President Obama, Secretary of Commerce Penny Pritzke, and my fellow Page ambassador. I never expected that I would be a little brown boy from Queens, and I'm sitting next to the President of the United States. My message to all entrepreneurs is believe in yourself. You can do it. Thank you very much. I came from nothing and built my own success. And now I'm working directly with the President of the United States.

You have been outstanding.

When I come to these events, I still pinch my. I'm talking to the President. I'm meeting people that have overcome huge obstacles, and I'm so proud to be part of it.

Awesome. Okay, you guys are ready to meet. Some of you have seen him before because we had him a couple years ago at an annual event. Mr. Daymond John with his dear friend and one of my dear friends, one of the greatest marketing minds on the planet, Jay Abraham. So give it up for Daymond John and Jay Abraham.

You want right or left?

Either way, grab whatever seat you want.

Thank you, guys. Well, have a seat and I'll. I'll find my questions. You guys just, like, you know, hang out and kind of kick back. All right, so how many of you watch Shark Tank? How many of you?

Yeah.

Yeah. How long. How long has this been going on now?

This is my. This is the Shark Tank. It's been eight years now.

Eight years.

This is the eighth season. Yeah.

Awesome. How long have you Jay, known Damon?

I don't know, Jay. Has it been 8 years or 10 years or.

It's been, like, the start.

Yeah, I really Wish you would have dressed up today. Seriously.

You know, the problem is. A problem is nobody invites me anymore to cocktail parties or social functions, and I got to get use out of my clothes.

Right, right.

That's true.

That's true.

He was supposed to dress better than me.

What's this? You built a multi billion dollar fashion thing and you're wearing.

What's it say I'm wearing? Just casual, you know, little tie.

No, they look good. I like the multi.

Yeah, multis something. Yeah.

So that is the biggest freaking diamond I've ever seen in someone's ear. That is huge.

Yeah, I'll tell you the story of that one day.

Okay, so first off, thank you both for being here. This is awesome. And how many of you heard the interview that I did with Damon and John? Okay. Wasn't that fantastic? Okay, awesome. So let's start with Jay. Since I didn't give you a bio, what do people need to know about you and who you are? You say whatever you want in under one minute.

Okay. I've grown businesses for a living for 40 years. How's that?

Yeah.

Okay.

That is quick. That is quick. So I've got a few questions for both of you. So you're both well known and well respected for your entrepreneurial accomplishments. You both have rather outrageous background stories. What one factor do each of you think more than anything else, determine or define what you each became and why? And how can that same factor benefit everyone in this room? We'll start with you.

I think there was a couple of factors. There was two factors, I remember, but the main one, I think was that when my parents got divorced and I was 10 years old, I was actually in Catholic school. And I remember acting up as a kid going, you know what? If I act up, my father will come back. Because this is the sensibility of a child, right? My father will come back. My parents will get back together because my grades are bad. So I remember, you know, like, the last test in school, the nuns said to my mother, listen, you know what if Damon. We understand Damon's acting up. And we would normally have to leave him back, but we're gonna give him one last chance. So that night before the test, I went out and played basketball with my friends. I did everything I could to not complete the test. I go in the next day, I do the test, and the test comes back, and I get like a 30 on the test. And I was very pleased with that. My mother comes into school and the nun says, you know what? We're not going to leave him back because we understand he's acting out because of what's going on in his life. And my mother said, no, you're going to leave him back. So, number one, I got left back. Second of all, you know, there was public school up the block where I felt like they just ate their young and crawled on all fours up there. They were just nasty people, right? And my mother said, and I'm taking you out of this Catholic, cushy school where you have all your buddies you've been in since the first grade, and you're going to go to public school. And I said, no way in the world is that going to happen. Then she said, and you're also not going to go out the entire summer. I said, she works three jobs. How the hell can she watch over me? No way. My mother goes and gets a fourth job, hires a babysitter who watches me, takes me out of that school, and I end up back in the seventh grade in the public school with the kids stealing my sneakers every day. I realized at that point that I was responsible for my own actions. And many of our kids don't realize that. And even my daughters have a challenge with that up until, you know, 20 years old. And I try not to baby them, but at that point I realized that nobody's gonna save me. And I think that was very instrumental at a very early age of my life.

Yeah, that's good. That's good. What about you, sir?

Probably the most, I guess, defining is that I had always a hopeless curiosity and an outrageous fascination for what, why, how people were doing things. And I was a business transit. I had no education. I got started at 18 and two kids at 20. And I jumped around, but not from job to job, industry to industry. And I would realize how totally different each industry was and the way they thought and their actions. And I have always had an obsessive desire to learn how many different ways different businesses, but more importantly, different industries, think, act, strategy, access vehicle, business model. And I think that's probably made a bigger difference in defining my. If you want to talk about not just success, but the ability to add a lot of dimension to people.

Yeah.

I mean, I remember some of the greatest marketing that I ever learned in my business is when I started listening to you. In the early 90s, I got a hold of these. Jay Abraham, Australian Boot camp for a genre. Yeah, it was amazing. And so for those of you that don't know, Jay's one of the greatest marketing minds on the planet and just super brilliant and really good at asking amazing questions in the Socratic method. So I'll ask you first, Damon, how do you personally keep growing and evolving as an entrepreneur and human being because you're now in a position where you advise millions of entrepreneurs?

I think it's still activating, as I call the power of broke and putting my hands directly on what's going on and learning what's going on instead of, yes, of course, I can hire a lot of people who I think experts in the field and know the field, but I don't. I tend to seek mentors. You know, of course, I've asked you many times to help me and work with me. Jay Michael Pirelli's here somewhere, Ryan Dice, and certain people that actually most of them I've met during or through the Genius Network, or if I didn't meet them through the Genius Network, I called up Joe to find out if they were anybody that was worth doing work with. So I'll get the mentors to work with me in this sense, but then I'll hire young millennials who will walk through the product and work with me on it, and I'll learn it. At the same time, I think that that's the value of Shark Tank. If I wasn't on Shark Tank, I would not be doing business like many of you in this crowd are doing today. I would have been doing the traditional Shimada business. I would have been making a shirt and selling at the Macy's and hoping this individual walks by and buys it. And I have no idea who bought it. Was it the mother buying for herself? The kid buying it for herself? Was it a gift? Why did they not buy it? I wouldn't have the analytics, and most of my industry still operates the same way. So there's a huge digital divide. There are the people 30 and under who are converting on social media and on Snapchat and Insta Stories, and then my colleagues who are 50 and older who are manufacturing, but they're manufacturing and they're just. They're either licensing a famous name or trying to sell it to a store. And retail is dying. So I learned by basically keeping a lot of the younger individuals around, finding how they're converting, and then a good series of mentors that are from all facets of life. And I still call people to mentor me every day. Great, great.

How about you?

I think what I've tried to do all my life, pardon me, is put myself in very uncomfortable situations with people who are above my intellectual and financial pay grade and force myself to not master but to, you know, to really understand their worlds. And I mean, just as an example, I'm doing stuff with a big hedge fund. I wanted to learn about big data. People who know me know that I get by being technophobic. And I met two top people and they became friends. I wanted to learn about private equity and I went to the top people and one of them became a friend. And I listen and I ask really interesting questions and I have great humility and respect, but I try to understand. Somebody taught me this. You got in this room 350, 60, 80 people and each one of you is listening to me or Joe or Damon or Dave or Peter. You're all having a different experience, you're all having a different reality. You're all interpreting it based on different reference and definitions. And I've always been obsessed with understanding maybe not the totality, but how many different realities there are concurrently going on. Well, many, many.

How many of you got a copy of Power of Broke?

Yeah. So thank you.

Thank you.

By the way. Just a plug for that. It's such a wonderful book to teach you. I'm obsessed with getting people to think differently. And it gives you 15 different ways to think differently, irrespective of whether you're rolling in prosperity, whether you want to try to set your children on a path, whether you're trying to force yourself to be more inventive, efficient, resourceful, innovative. I love his book.

Thank you, Jay.

Absolutely.

So what's one thing about you or your business beliefs? Does the public not really know that, that you wish they did?

Thanks. Probably that I'm at a point in my life where I'm more obsessed with not just contribution, but monstrously helping expand entrepreneurs worldview. And by worldview, I have a belief system that most people in an industry fail to acknowledge that their prospect, their clients, their team members aren't just accounts payable, aren't just buyers of shoes. They are human beings. They're men and women, husbands, wives, fathers, mothers, lovers. They have all these different issues that are holistic. And I try to expand people's worldview to think at levels that are beyond the rigidity and the, and the very limited verticalness of whatever they're doing.

Yeah, I have two aspects of business. So one is my operations side is I try to put this discipline on myself that obviously I have to make more than I spend. So I have the theory of like, you know, you have $100 in your pocket, once you break it, it's done. So I never bring money from home. And what that does Is it gives me a discipline of no matter how much money I throw at something, I'm going to be forced either to create more sales or to reduce spending. And then with my employees, most of them have started off as interns for the last 20 years. Most of them have started off as interns at some level. And I have a three tier with my employees. Number one, you're hired for. Well, I'm sorry, the attorneys haven't started off as interns, but I'm talking about like other people. One, you have a tier to do your job. Number two, you have a tier as a team player. And if those work, then collectively we can partner on a business and. Or something that you have an aspiration for. Because I truly believe that those individuals, first of all, everybody will want recognition. They say they rather recognition over money. Number two is if that person is so good, they're either going to go off and be your competitor or they're going to be stolen by somebody who can pay them more. So if they have some form of a partnership and there is no glass ceiling and they can determine their success, I think that keeps them there on a personal level and I don't know. I'm sorry, we were in the back, I didn't hear how you queued up. That part of Shark Tank is that. But on a personal side, for me to make it to that level or to be on that stage with, with Mark Cuban and all those other people, to be an entrepreneur and know that that is driving the country and the next Steve Jobs or whoever is right now at home 11 years old with their pajamas on, eating cereal, watching that show and they're going to go out and create millions of billions of dollars and help the economy and be an entrepreneur and empower millions of people that I didn't realize I was going to be in that area. And once I got to that area and I started to see how empowering entrepreneurship was, that's the place I'd love to be. Now, I think that entrepreneurship is more like the new version of the preachers and everything else like that. But they're talking about methodical ways to go out and empower yourself.

So, Damon, you speak almost daily to extremely large, diverse groups. What commonalities and differences do you see and what insights and lessons could we learn from it?

Yeah, you know, it's fascinating. It's always the same couple of things. Last night I was speaking to Panama City. They just got. They're getting a couple of billion dollars because of the oil and the oil spill and Everything else like that. And now they have their chance to bring their community around and they want to know the same thing that almost all corporations or individuals want to know. How do you foster innovation within people in your corporation? And there's a certain type of innovation us companies want to have. They tell me, Damon, we don't want you to get them so motivated that they quit. Right. And start their own business. So how do you create these individuals to work together and to be innovative within an organization? Number two, how do we brand that we are an innovative, forward thinking company so we get the new talent in because Facebook and Uber has really snatched up all the talent for coding and things of that nature. And then the third one is how do you make people believe and understand the they are personally a brand themselves and they are directly associated with whether the bigger body or their product. Because as you look online and today and all the people that work for you, nobody can differentiate whether they're talking about you, your company, or themselves when they're on their own social media platform. So they ask me almost always the same three things.

Well, I'll ask you the same question, just in kind of a different way because you speak and consult worldwide for a pretty much hilarious diversity of all kinds of different people and industries. So what insights, lessons, commonalities and differences do you see?

I'm going to answer, but can I make a bizarre first request? Let's change seats. Because I'm noticing I'm skewed that way and he's skewed that way. And if we change for the second half, it'll be fair to everybody.

Are you serious? Yeah, whatever. Go for it.

Jay does.

That's Jay Abraham, please.

Yeah, hey, whatever.

I'm very trained to be empathic to the audience here.

Let's make sure we got Jay's phone here, though.

You can have it.

I mean, see what's in here.

And so I just.

You need a Joe Polish sticker in your. On your phone Here, put it in.

Okay, so if I remember. If I remember the question, you want to know commonalities, right? Is that what you asked? Commonalities? Yeah, yeah.

Commonalities. Yes.

Okay.

And realize he does.

I'm kind of focused there. Okay, this is what's happening.

I want one of those big Joe Polish face.

We're going to get you one. I'm going to send you one every for like, I'm going to put you on an auto drip system.

That's great.

Thank you.

Put it on my watch, too. So again. Good.

We'll hold it for later?

Yeah, yeah.

Okay, great, thanks.

Perfect.

I love this. Damon has this broader suite. I deal almost totally with entrepreneurs that are going to be operating, not startups, and they're going to be very diverse and they're going to be worldwide. Here's what I've noticed, number one, and these are just sort of my Rorschach. Almost none of them are really strategic and don't understand what strategy means. And all their activities tend to be erratic, episodic, they aren't driven to advance and enhance their strategy. Number two, almost none of them have any correlation or comprehension of all the.

Performance.

I guess I'd call them metrics of all the impact points. Number three, most people, I've been very blessed and I won't go through the litany of experiences, but I've gotten to see not even a micro, almost a nuclear level, all the different interrelated revenue impact points that exist in a business. There's sometimes 30 or 40, and almost nobody ever looks at them and realizes that each one can be enhanced and the combination can be geometric. Almost nobody understands that you don't have to depend on one primary source of clients, prospects, that you can really solidify and grow your business by orders of magnitude if you expand. On the good side, the people that are attracted to me tend to want very badly to be able to, to contribute greater value to their market. But they don't even necessarily know that verbally. They don't have any kind of crystalline or tangible idea what that looks like. And someday I'd like to do a discussion, maybe tomorrow, about the difference between a proprietor and an entrepreneur. And when they understand I've done a lot of work in being preeminent. Preeminent is a really. It's a wonderful place to operate your life, your business, your, you know, your everything. Most of these people don't have enough value, appreciation for their human capital, their team. They don't know how to help the team grow and develop and thus they only get a fraction of the performance capability. Then the only other thing I'll say, and this is quite fascinating, I do a lot of stuff in Asia and I've done a lot of stuff in Hispanic markets. And their academic training heretofore has been rote. So if I say to entrepreneur from China or from Singapore, from Malaysia or Bangkok, so take 100 divided by a thousand, multiply it by 12, add 6 square root it and then minus 2, what's the answer? They'll go. But if I say this is to this as this is to this. So this means what, they'll go deer in the headlights. I am very well received because I have the patience. And it's not arrogant. Takes a lot of patience to teach critical strategic thinking to people whose environment has taught them tactical, nonlinear thinking. And it liberates people when they do that. And I can go on, but that's probably enough.

That's great. And by the way, I'm gonna remove this sticker because, like, looking at myself, it's like when you see a TV in the background, you're just drawn to it. It's kind of creeping me out.

So I'm just gonna put it here for me. Why don't you replace it with a fan?

Can I just fan you while we do, like, the jj?

You know what? Better, why don't you bring, like. We could have that. We could have the Abraham etched here. Doing that.

That would be awesome. Maybe we're going to think about that for tomorrow. I might call in some cheerleaders. So, Damon, you have your famous Shark points. Jay, you have many things. Three ways to grow a business. The strategy of preeminence, power, Parthenon, nine drivers, etc. Of them, which one single principle or concept would you keep and use if you could only choose one, and why? Which is like, what's the most important thing?

Mine would always be my first of the sharp points. And I have various different ones. So a lot of time my sharp points is S, H, A, R, K. And depending on who I'm speaking to, some, you know, can vary. The S is always about goal setting. I always attribute reading a book that probably the entire crowd has read. Think and grow Rich. The first time I read it at 16 years old, and I didn't really understand the value of goal setting until I was probably about 20. And after that, immediately my life started to change. And I don't say that casually, and I don't know if anybody here does not know what goal setting is. It is not about what you're going to do. This week I have 10 goals. Seven of them expire in six months, two expire in five years, and one expires in 20 years. The ones that expire in six months, I, you know, I read them every morning and every night before I go to sleep five days a week. It's the last thing I think about when I go to sleep. It's the first thing I think about when I wake up. And I make them very, very. I set my goals very high. I usually get to about 50% or 80% of the six month goals in regards to accomplishing each one and then I reset them for another six months.

Interesting.

And those have been over the course of my life. Those have always been the ones that I've gone back to. I do find that three months or six months out of my life when I'm going through extremely challenging times. It could have been my divorce or it could have been various challenges and I start maybe drinking more than I should or hanging out more than I should and I find that I don't do that. And after a while, after six, seven months, I find that my life and or my motivation have taken a large decline. So I have been through that part of not goal setting probably about six times in my life. And those have been actually the worst times of my life.

Wow. I love the whole thing of the goal with an expiration date. I mean, that's very interesting. I mean, I put deadlines on things, but I've never really kind of thought about it.

Yeah, they have expiration dates and I find myself getting anxiety around that. If the goal is the 15th of March, why am I feeling like this? And I reset in them.

I would fire myself if I was interviewing me for this one because I'm going to give you a double answer, but probably the most important distinction, ideology, philosophy I ever learned and I can be very arrogant about it because it wasn't my own originally, but was the strategy of preeminence. It's really redefined what I've become as a human being, as a contributor, as a catalyst to others, a benefactor, guide, advisor. And it's also, it's propelled people to the highest level. And I'd like to actually tell a simple story because it's quite profound about it. But also I'd like to give a context about relational capital because there's a depth and a breadth of it that is so transcendent to what somebody would think of as an affiliate deal. But just, I mean, to give you the simplistic concept of preeminence, it's basically to establish yourself as the only viable choice, the most trusted advisor for life. You have a moral responsibility to guide people to what's in their best interest. You can't let them buy less, more, less quantity, less quantity. You may not even allow them to buy from you, or you can't allow them to buy from the competitor, not because they're a son of a gun prick, but because they're not going to add the value of support. Your goal is not to fall in love with your product or your service. It's to fall in love with the people whose lives you're transforming. You have four categories of clients, certainly the ones that pay you, but then the others are the ones you pay your team members, your vendors, your advisors. And your goal is to enrich their life, to grow, to add value. That's the important part. But it is totally external. And the real key to it is you don't wait for money to change hands to start investing. The preface or the premise is, in any relationship, one side is always being asked to invest first in the other. And your attitude is, I think you're a good investment, so I'm going to invest. But you're going to invest real value. And you can't invest real value if you don't have a clear context of what value is defined as by the various segments of the market you're trying to take. I can go deep on that, but forget that now. So we've done billions of dollars for clients using very sophisticated relational capital. And it's totally different than an affiliate deal. You know, it's like we will find people who have very trusted, credible relationships with the market that our client wants to reach, and we will engineer extraordinary relationships. And the easiest example I can give you is an old one, but it'll show the differentiation. I was laughing. Somebody wrote me the other day and said, I want you to promote my software. There's $100,000 top prize, and I'm giving my Porsche. And I said, well, first of all, I have more than one Porsche. Second of all, I don't do things for that. If it's got value, making another 20 or 30 grand ain't gonna change my life. So I'd rather do it gratis if it's gonna really impact the people. But when we used to do really integrated stuff, strategic relationships, and the easiest one, I can tell you, I'm going to go back and date myself. But when gold was first legalized in the 70s, all the gold dealers are running ads in the Wall Street Journal, Forbes, Barron's. And that wasn't where the gold buyers were. The gold buyers were the conservative, pardon me, many is the water right here. Many of them were the libertarians, the Von Mises, the Hayek type people. And they were subscribing and paying money to any of about 40 different newsletters that were out there. And I was the down below, the surface strategist, mastermind, ethical puppeteer for all these people. And I also was the mastermind for this gold company that sold physical gold. Physical means you buy, you get it. You can buy physical gold, you can buy options, you can buy bank owned. And I've helped all kinds of companies like that. But we would go to financial newsletters and we wouldn't say send out an email for us. We would strike a long term arrangement. Well, first we would be the recommended provider of the hard asset. Every time a new subscriber came, they would get from us a kit that would explain hard assets, give it the context, have interviews with prominent economists and advisors, including ones that didn't like gold. So it had balance. Our deal was four times a year we would pay to put out special editions of the newsletter that would chronicle a lot of hard assets. And we'd pay money for great, great, respected, iconic writers and we would be featured in it too. Thrice a year we would do regional promotions where we would do programs on site all over the regions for the these newsletters and they would be for profit. We would use part of the money we were spending to get an icon. Then we would speak any profit we would give them, but it gave us credibility. Many of these newsletters were very arrogant and they would stop marketing if their marketing piece started breaking even. We were in a lead generating business and lead generating was costing us 1,200, excuse me, 100 $200 a lead. So anytime their subscription offer stopped working, we had a standing offer that we would pick up the responsibility of taking their subscription piece, their promotion. I would improve the headline, I would improve the risk reversal, I would add to the bonuses, we would do whatever we could to make it profitable, then we would pay to send it out, but we would get joint tenancy of all the names. And I can go on and on, but it's so much more sophisticated and it wasn't static, it was a perpetual. We always played a long game. And also if we were the first one to do that and it worked, I separately would reserve as a contingency the right to become the ombudsman, the provider, the manager, the partner in any and all other long term strategic offerings that would go through that newsletter. So I created it as a district distribution channel and I did the same kind of thing with everybody and it was a whole different level. And there still is. Oh, by the way, we never sent the same communication to any two newsletters. They were all customized so they had integrity. Because a lot of these newsletters, not unlike a lot of the email list, were multiple subscribed. And if you have the same rhetoric, it looks very, very crass. But there's Just a lot of deeper strategic thinking that's possible. And I over talked.

No, no, but there's always more underneath the surface. That's why people that just try to knock off a certain particular ad or promotion don't really see everything that's going on.

Agreed.

And when you make so much of your marketing, just the public thing and you're not doing the relationship building stuff, we had Dre red flag, talk about direct mail. You know, 27 year old guy here in the audience who you know, of course you know, you're friends with Andrew. Yeah. And so basically, you know, 27 years old, expert in direct mail. And the beauty of. I became one of the highest paid speakers in the world in the niche of carpet cleaners where no one knew who the hell I was. But it was all. And I had all these people that would try to knock off my ads, but they didn't see all the direct mail. It's like it's so stealth, it's so under the radar, as are many marketing things. People just cannot see them in the surface. And that's why if you understand what you're talking about here, it's like a positive iceberg. Yeah, yeah. I mean it's just, it's such an advantage. Damon, you've seen a bazillion business models. You've seen a bazillion business models. What's the most impressive business model that you've ever seen and why?

It's tough to say. What's the most impressive?

How about depressive?

Depressive? What's the shittiest business model you've ever seen?

Oh, I've seen a lot of those, You know, pre baked in customers that there is some level of subscription that they feel that there is of course a need or a desire to come back. Of course we've seen it work many times in the pharmaceutical space. But you know, today, and we're seeing it. Let's just talk about today. I see that the subscription models are extremely powerful. We all know that for various reasons here, many people too lazy to take them off of the, to get off the subscription model if they are not being serviced correctly. I think the data is extremely important. I think the reduction of gambling on inventory is extremely important. The fact that you're getting full margin instead of going through some level of distribution. So you're going all the way there. That to me. And it can change of course what you're subscribing to or you can add more levels of what people are subscribing to. So. And I know many people here do that for a living. That is still, to me, I find the most valuable business model at the end of the day.

Great, great.

Thank you. I'm going to give you a offensive, politically incorrect answer. Oh, how dare you. I dare you. Want to double dare me? I'll double dare you, but I'm going to give it to you because I was trained by people so much brighter than I on how to deploy, redeploy, repurpose, the same thing, how to give it life when it was already dead, how to re. Monetize it. And I think probably the greatest business model, although it's disgusting and repugnant, is meat packing. Meat packing, yeah, because they figure how to use every part of the animal in a productive way.

Interesting. That's the last thing I ever would have thought of.

Yeah. Think about it.

Yeah. Talk about repurposing, huh?

Yeah.

So get yourself a little sausage factory is what you're.

I mean, I can give you some really cool current ones, but if you think about it, I mean, I've been trained in optimization, highest and best use theory, redeployment of assets, and most people don't have a clue. All that can be done with what you've got, what you don't think you have, relationships, segments of your audience, crap, your inactive buyers, people who didn't buy. And I just like see things where they figured out how to monetize and maximize and utilize and optimize every facet.

And it's a gross efficiency. You're saying that they should walk away with always thinking like the meat business, like how to use the whole thing.

Yeah, it's a metaphor. I'm not trying to say go.

No, no, I get it, I get it.

But as a metaphor, you know, it's. Most of you have. Just as an encouragement, not an admonishment. I would be hard pressed. I would bet a lot of money every one of you has within your existing buyer list, relationship list, distribution, media prospect, email, your visitation.

But Jay, how do you use the whole. So using the whole pig or cow, I get it. The poor thing has been cut up, right? But now when we talk about our customers, customer base, right. How do you. Whether it's the mailing list and everything else, how do you not exhaust that one person? Because now they're getting hit from various different directions. See, the cow or the pig is already dead. Right. So. And I want. I want to exercise my mind as well. Yeah, sure.

Okay, sure. All right, cool. He's setting me up to. He thinks I'M gonna fail.

I know you're not. That's what I. But I want to walk away here with some.

So let me give you content. All right, so you have a product or a service and you have a type of a market that comes to you to buy it. I always ask, what else do they buy before, during, and after? What all do they buy instead? What all does that decision maker buy transcendent to what you do? How many ways can you take what you've got and add to the front end a modest way to start more people, to the back end a more expensive and advanced upgrade? How many other services can you help them with that on their own? They aren't going to make good choices. If you've got. If you're not national or if there's a related business, how can you take what you've done and either partner with someone else in a different market or a different industry and license or profit share? If you're in a business, how can you find people that got stuff you can borrow over? I mean, I can go on and on and on and on.

I know, but that's what I wanted to hear from you.

Oh, he was trying to make me look good. Thanks.

What do you guys do for fun, relaxation, hobbies, when you're not hard at work?

I fish, I snowboard. I do usually a lot of things out in nature, you know, shoot clays and things like that.

Got you. Cool.

I'm probably lopsided. I get really great intellectual stimulation out of just having really rich discussion with people. I have a whole spectrum of what I call masterful thinking. Partners in the most eclectic spectrum of areas. And when I'm available, we talk. We just talk about anything. I want to know what's going on. I want to know what they're doing, what's impressive to them. So I just like it. I mean, I'm not very athletic, so I like intellectual stimulation. My wife is very athletic. We have a few problems. We'll go to a basketball game. We have season ticket to Clippers, and. And she'll go and watch the game. And I'm watching, thinking, how in the hell do they change that from basketball to Adele to, you know, he's always on.

He's always on.

Yeah, I wish I wasn't.

You're possessed.

Yeah, he's always.

Yeah, I wouldn't recommend it. I wouldn't do this at home.

Yeah, we went to. We did hang out casually, and we always hang out casually, but we hang on casually like we thought we were going to Dinner, and I was eating, and he just kept me asking me so many questions. He was just being himself.

Yeah.

Just being curious. Well, yeah, here's the thing, too. And I will say this. Like, Jay is really. I really. You're a cool guy. You're quirky as hell, and you are really, you know, you're a great guy. You have this great house on the beach where I've actually. You gave that to me and a girlfriend to hang out with.

And I mean, you.

You know, to stay there, which was awesome. And we. You've never said, hey, let's try to pitch something to your list. Hey, let. So when you're talking about. You really get intellectual stimulation.

Yeah.

Yeah. It's not like, you know, we've. We talked all the time, and it's never been like an agenda. It's never been like. And you're incredibly gracious. And I mean, even coming out here, which I appreciate both of you, you know, doing that.

But I want. But I want to say one thing in the reason. I want to say one thing and the reason why I did so. First of all, I'd like to thank Jay and I want to thank Joe for helping me. But I promise you, and I'm not lying, I am not getting paid for being here today. And I would give up the world to be here today because of the value that I've learned. And one of my guys here had called me and said, should I come here? And why should I come here? There you go, right there. And you do all the stuff with Barbara, right? Barbara Corcoran and all the commercials and stuff. And I told you what was my answer? It was the top two or three things to do events like this in the world to do, period. And the reason why I'm here, and we've all. I know most of the people have books here. I haven't made any money off the book, so don't think it was to sell the book. When you teach entrepreneurship and most of us here have curriculums and. Or something that it teaches entrepreneurship, it changes the world. And that's the reason why I wrote the book, and that's the reason why I'm here, because I believe that every single person here kind of like the Kickstarter idea where you see these successes, because someone who's made it, they pay it forward. I believe that the people that I meet here, I learn from, greatly learn from, but then they go out and they educate people. And I always joke with, there's no difference than me or you. It's Just that I have a camera on me. So thank you everybody who has helped share the network. Every time that I've asked Joe or Jay Abraham for anything, the clock has not been on. They have been very, very gracious to me and I've been on many of your podcasts out there and any way that we can pay it forward with you and vice versa, you know, just let us know.

He's wonderful. And that book, I just enraptured with it and think it should be a perennial because it's got such enduring value, goodness, inspiration and clarity and actionability. So I've spent my life looking at every kind of business imaginary and I can promise all of you that within the realm of what you're doing, where you're doing, how you're doing it, who you're doing it with, what your message is, what your product line is, you have enormously under optimized capacity without spending any more time, money, effort. And I urge you to not look outside till you first maximize inside. When we work with a client, it's not a crass thing for me working with you guys. I'm just telling you what we do. First thing we do is look at everything they're doing, how it's doing, why they're doing it and what can be done to make it do better. Even I think it's crazier than crap because it's driving the business. And you make something that's pulling X, do 4X and you figure out seven elements in there. Now you free up $40,000 that can be used to now test and add either enhancements, replacements, additions, and there's a very simple, very safe, very non threatening process that you all should consider. And I am a great benefactor to entrepreneurs whether I profit from them or not, because I agree with Damon. I'm on the World Bank's President's Council for Entrepreneurship and they made a point. One day the same thing Damon's saying. First of all, entrepreneurship is the lifeblood of any vibrant country, culture, economy. But more important, it grows the big businesses. But more important in the third world countries, if you help somebody who's making $50 a month make 150 and you do that for enough people, it transforms the entire security, the entire stability, the entire. And you're, and you're, and you're investing in the futures of their children, they're, you're right. There's, you know, there's just, there's a lot of wonderful things that come from contribution.

Daymond, John and Jabraham, thank you guys.

Thank you, thank you, thank you, thank you.