Celebrity Investor David Meltzer Discusses Persistence, Path to Revenue, and Analyzing Ideas

Life-Changing-Residual-Income-Opportunity-and-Successful-Business-Ideas-multiple-income-streams
Licensing or Manufacturing? What is Best For You?
March 28, 2018
Christina Daves
Christina Daves, Award Winning Inventor, Best Selling Author, TV Show Host and PR Expert Discusses What Type of Products She’s Looking For and Marketing Your Idea!
April 2, 2018

David is the Co-Founder and Chief Executive Officer (CEO) at Sports 1 Marketing. Sports 1 Marketing is a global sports and marketing agency that leverages over $20 billion in relationship capital and over 38 years of business experience, bringing athletes, celebrities and businesses together. Meltzer has been an entrepreneur for over 25 years, David launched his career in sports at the world’s most notable sports agency, Leigh Steinberg Sports & Entertainment, serving as CEO, where along with Leigh and Warren Moon, negotiated over $2 billion in sports and entertainment contracts. David sits on numerous boards including JUST capital, OCTANE business incubator, Celebvidy, Rose Bowl Foundation, Transformational Leadership Council, Unstoppable Foundation, among several others.

Jared and Karina Rabin share how they got the Hang-O-Matic into over 11,000 retail locations across North America and Worldwide. Through out their journey Jared and Karina have appeared on Bravo’s Quit Your Day Job, Steve Harvey’s Funderdome on ABC, Entrepreneur Magazine’s Elevator Pitch & MSNBC Your Business. In addition to Reality TV Jared has appeared on QVC 4 times in the UK and US.

Four short years ago they started their retail journey at the International Housewares Trade Show. Today 500,000 units have been sold since exhibiting in the Inventors Corner. Now they dedicate their time to coaching inventors/entrepreneurs how to market and sell their products to All Retailers!

www.thepitchtogetrich.com

Watch the podcast here!

 

Podcast Notes

1YouTube generated podcast notes, please excuse any typos.
0:00
we're Jared and Karina with the pitch to
0:02
get rich and we were on your awesome
0:05
first season entrepreneur elevator pitch
0:07
and we're here with David melter CEO
0:10
supports one marketing there you go good
0:15
ten years of marriage he started to do
0:17
that after a while and my wife would
0:20
barely ten last night it was it was
0:23
almost done but today we're back in love
0:26
you know exactly what's the secret
0:30
open communication for sure right I
0:33
adore my wife and and for her it's
0:35
forgiveness for me the reason that we
0:40
have such a awesome marriage and awesome
0:42
family and kids are happy because we
0:44
have open communication and she's
0:46
forgiving because I told her it was the
0:49
spawn the backyard is why we doing so
0:51
well there you go that's a 10-year mark
0:53
I had my troubles at ten years - and
0:55
then I matured
0:59
[Laughter]
1:06
I'll say you're close we're August 31st
1:08
I'll be 21 years Wow the Clemente
1:11
birthday I mean Clemente anniversary I'm
1:13
moving to Karina sauce in three days we
1:14
got engaged in three months and married
1:16
in six months right we managed a date
1:17
night we met on a Saturday night and
1:21
then he went out again on a Monday Wow
1:27
beautiful Jewish girl hello I went on a
1:29
fifty first night I get it I saw oh my
1:31
goodness she's mine is it true they have
1:33
like J swipe now yeah I'm old right so
1:36
they don't have JD when I know GD was a
1:38
big deal and that's why what the Tulane
1:40
law school is like the human version the
1:42
in-person version of JD right right did
1:44
you Billboard not paying $200 a little
1:56
like $200 right for the weirdos we're
1:57
gonna get emailing us yeah yeah I got a
1:59
line number bucks
2:00
they got the J couple date thing and
2:02
they would get really seriously weird
2:03
right if it was girls I might be
2:05
interested by the way we're having a
2:07
banner year hang ematic and I think part
2:08
of is because you invested in us and
2:10
your your help I think we're gonna sell
2:11
what for 2018 will probably sell
2:13
a quarter of Units roughly we got 50,000
2:16
units in the last three months yeah we
2:18
had a good good three months I mean this
2:21
is the season two more than enough
2:22
there's a flood of favor coming that's
2:24
my prediction so the economy's good
2:27
we're getting taxes back this year for
2:28
the first time in 19 years that's a good
2:30
sign what are the new new plan I think
2:33
one of the questions we had for you now
2:35
I mean especially because you know you
2:36
invested in us what is it not just what
2:38
you look for in us but what do you look
2:39
for in general if you're going to work
2:41
with someone whether it's in investing
2:42
or just teaming up with someone in a
2:44
partnership the first thing are the
2:46
people you know I can take a B product
2:49
with an A person and make money so if it
2:52
has the right person because the key to
2:53
life is in business is the enjoyment of
2:56
the consistent persistent pursuit of
3:00
your potential so if you have the right
3:02
person that will stay consistent in
3:04
their endeavor and be persistent at it
3:06
the business will evolve they'll stay in
3:08
business and I have a philosophy about
3:10
business as long as you stay in business
3:12
you'll eventually get there some people
3:14
can get there faster than others but
3:16
eventually you'll evolve and be
3:18
successful so number one by far in out
3:21
of the 27 companies we invested in I
3:23
only invested in the 27 people that I
3:27
felt were the a caliber people secondly
3:30
would be the direct path to revenue so
3:33
when I looked at your deal I saw where
3:35
you were going and I saw I seen in my
3:37
own business I told the people here a
3:39
year ago hey my biggest fear is we're
3:40
gonna break you know I saw the economy
3:43
the International effect on the economy
3:45
and the internet people were still pre
3:46
chasm in so many different economic
3:48
factors but you know I saw a direct path
3:51
of revenue for you where a lot of the
3:53
other companies they couldn't even
3:55
articulate how they were gonna make
3:57
money right you guys could and so you
3:59
had the right people and a direct path
4:01
to revenue and so very confident they
4:04
not only you guys are pre chasm in my
4:06
opinion what you're experiencing now is
4:08
going to hockey stick it's gonna be an
4:11
exponential success and I don't know how
4:13
long it will take right but the less you
4:15
resist it'll come faster and faster
4:16
every day
4:17
would you this is such a big question
4:19
from every inventor who watches any
4:23
entrepreneurial business show shark tank
4:25
entrepreneur elevator pitch
4:27
and now that we're doing the pitch to
4:30
get rich and Jer and I are actually
4:32
working on creating a live conference
4:34
we're gonna call it journey to retail to
4:36
teach rotary to MIT and I won that one
4:42
by the way you would I won that one
4:44
who's counting right go has no need to
4:46
be right there you sure I don't need to
4:53
be right no need to be superior I'll
4:54
work on them
4:55
even my fingers are so low I savor doing
5:00
a live conference called road to retail
5:04
so we're gonna start in Orange County
5:06
and have whatever 100-200 people come
5:08
and learn how to get into retail stores
5:10
and online would love for you to come
5:12
and absolutely
5:13
I have other categories of entrepreneurs
5:17
so now people pitch us and it's
5:23
frustrating to me when I hear this is a
5:26
billion dollar industry and everyone is
5:30
gonna buy this product like how do you
5:33
know that nobody has a magic ball would
5:35
you consider a company who says
5:38
something like that and doesn't have any
5:39
their pre revenue they haven't sold
5:42
anything to heaven so the size those
5:44
five units on Amazon right right so the
5:46
size of the industry is one minimum
5:49
independent variable right because for
5:52
example one of the companies I invested
5:54
in was an art dealer CRM not a
5:58
billion-dollar industry but there's no
6:01
competition right in a multi-million
6:04
dollar industry with a level not only
6:07
people running the company but already
6:10
like five key heavy investors that have
6:12
deep deep pockets so when people
6:16
articulate the size of an industry
6:18
that's terrific
6:19
right it's one independent variable but
6:22
what good is it you know Microsoft has a
6:25
huge industry you know do you you want
6:28
to play in that space you want to create
6:30
an iOS right what so for me it's a
6:34
combination of understanding independent
6:36
dependent variables for a direct path to
6:39
revenue one of the factor
6:41
would be is this a large you know cuz
6:42
there are some entrepreneurs that come
6:44
in and I'm like hey this is a great
6:46
solution but there's like six people on
6:47
earth that will buy this right yeah so
6:50
that's a variable that's a no variable I
6:52
want to hear more somebody says hey this
6:55
is a large industry but that doesn't
6:57
mean that you can sell everybody now we
6:59
have to determine what the value is and
7:02
you know is the right people in place
7:05
the distribution the marketing the
7:07
competition all the different variables
7:09
that I analyze and I do I'm blessed
7:11
because you know I sit on boards of VCS
7:14
I sit on boards of octane here for
7:16
sports technology incubators and
7:19
accelerators and of course the TV show
7:21
so I probably get more deal flow and
7:24
have become an expert at reading
7:26
executive summaries and business plans
7:28
but I will tell you this for anyone out
7:31
there just because I say no or anybody
7:34
else says no don't quit right right
7:38
regardless of if I tell you look I don't
7:41
see this you're not the right person
7:42
this is not the industry there's only
7:44
six people that are gonna buy it
7:46
that doesn't mean number one that I'm
7:48
right and two it certainly doesn't mean
7:51
you should quit even if I'm right you
7:52
should just adjust right right alignment
7:55
action adjustment the triple a strategy
7:58
to success get alignment with your
8:00
market take action and prepare for
8:02
adjustment and if you take that
8:04
philosophy eventually like I said as
8:07
long as you can stay in business the
8:08
first question you two should always ask
8:10
but you know as you wake up together and
8:12
you work in the same business and
8:13
hopefully not kill each other is hey are
8:16
we gonna be in business tomorrow and
8:18
when once you guarantee you're in
8:19
business tomorrow then move forward I
8:21
would say one of the things that has
8:23
been like our our challenge is I would
8:27
say the marketing aspect would you say
8:28
of hang o matic we're good at inventing
8:30
we're good at selling right we're good
8:32
at distribution we're good I'm good at
8:34
accounting right I'm sorry
8:36
I totally get it so you're you work with
8:39
entrepreneur yeah right on your magazine
8:41
and I'm following entrepreneur magazine
8:44
and actually tried to reach out to Jason
8:47
Pfeiffer like five times and I'm like
8:50
because I think what Jer and I have done
8:53
is very successful like
8:55
we don't know anyone who's started from
8:57
scratch gotten we've lost on two other
9:00
reality TV shows and we still managed to
9:03
get into all these retail stores by
9:04
ourselves we sold our house and he's
9:06
like no that's just unique as we
9:10
invented it engineered it ourselves
9:12
right manufactured ourselves sell it
9:15
ourselves fulfill the orders ourselves I
9:17
mean my factory literally fills the
9:20
orders with my assistant you know from
9:21
Orange from our home and now in Temecula
9:23
right and then I do I'm sorry I do PR I
9:25
do marketing I do social media so that's
9:28
why they got the face when we're not
9:29
good at marketing I can see their feet
9:32
and see barely good at it to get where
9:35
yeah well but it's been it's been an
9:36
evolution yeah let me just interrupt
9:39
yeah please because it's so interesting
9:41
because I try I try to teach people this
9:44
is that you know for years I've been on
9:48
the offensive right I reach out to Jason
9:50
Pfeiffer or whatever instead what I
9:53
started realizing was if I focused in on
9:55
finding my own frequency right and
9:58
building content of my own frequency
10:00
whether it be in person email phone or
10:03
in social media those are the four
10:06
mediums that we build this content for
10:09
our companies that's how we stimulate
10:11
interest transition interest in share
10:13
vision is via these four mediums there's
10:15
really none others and when you simplify
10:17
it and category look at it so how do we
10:19
market in those four mediums the one
10:22
thing I started realizing is I don't
10:24
have my own frequency because I'm on the
10:26
offensive I'm out there hey you know
10:28
what I actually hired a publicist right
10:30
a young guy at 21 right from college and
10:33
said hey you're good-looking you're
10:34
smart you're aggressive he's sitting
10:36
down there on the floor
10:37
you guys can agree with me and I'm like
10:39
who else to represent me and although he
10:42
was representing me which is even has a
10:45
statistical success far greater than
10:46
calling yourself and telling Jason
10:48
Pfeiffer hey man we're terrific
10:50
imagine you have a publicist and it was
10:53
interesting when the offensive because
10:54
even Bradley my publicist had resistance
10:57
like people would say oh no not
10:59
interesting but once I found my
11:01
frequency and I started focusing the
11:03
other way and this is an area that you
11:04
know you may want to engage with our
11:06
marketing company because that's what we
11:08
do
11:08
as we create on all four of those
11:10
platforms a frequency for you so that
11:13
Jason because what happened to me with
11:14
entrepreneur Bill Shaw the president
11:17
about who reached out to me
11:18
Jonathan Bogner the producer of
11:20
Undercover Boss reached out to me right
11:23
Shaquille O'Neal recently reached out I
11:25
joke around because Warren moons my
11:27
business partner right and Warren's like
11:29
diva I'm your agent now like you know
11:31
Jack reached down said hey can I get on
11:33
Days podcast you know they get all this
11:36
different things so one of the things
11:37
that we can help you with and mentor you
11:40
on is let's shift the paradigm instead
11:43
of it's great to be that you know
11:45
offensive you're gonna have to still do
11:47
that but it's a lot easier when you find
11:50
your frequency and exponentially things
11:53
are attracted to you right these things
11:55
are reaching out to you when you're
11:57
spending your energy in that frequency
11:59
and content more than reaching out and
12:01
trying to sell it right attractive right
12:03
in as far less resistance and I know it
12:05
takes a leap of faith to trust the
12:07
universe but there's far less time
12:09
investment and you have much greater
12:12
statistical success in that frequency
12:14
strategy yeah I disagree with their
12:20
Muslim feelings when Jason said no
12:23
because I was do you remember watching
12:25
Seinfeld yeah of course why don't you
12:27
just tell me that's okay I had the Hill
12:36
Street Blues analogy this morning I got
12:39
blank everybody 40 and under like they
12:42
were immediately googling it going
12:43
better be careful out there so he said
12:47
no and I didn't understand because I
12:50
felt like we had a really good story but
12:52
what I learned from that is he inspired
12:54
me to create the pitch to get rich right
12:57
he is but when Bradley reached out to us
13:00
asking us to subscribe to a channel we
13:02
had literally I was so excited I'm like
13:04
oh my god he has a podcast we just
13:06
started a YouTube channel so we're going
13:08
in that direction and it's nice to
13:10
follow in other successes footsteps I
13:14
always say to Jared whatever we're doing
13:17
someone had already done it so let's
13:19
just go copy it and edit it
13:22
making our own with our with our own
13:24
twist with our own content with who we
13:25
are so that philosophy is called make
13:28
yourself equal then make yourself
13:30
different so many other people they go
13:33
in pitching different so like even with
13:35
Jason right
13:36
yeah the next time when I set up a
13:38
meeting for you guys we're gonna make
13:40
your self equal and then make yourself
13:42
different so the pitch goes something
13:44
like hey Jason remember that company
13:46
that we funded on elevator pitch they're
13:49
your typical you know hard-luck
13:51
sacrificed everything now they're
13:53
successful but and that butts gonna be
13:56
whatever that branding and frequency is
13:59
and it could be something about your
14:01
marriage it could it there has to be
14:03
that but being different and because
14:05
Jason's right the story that you told me
14:07
is the one that they get hundreds of
14:09
pictures right and for me I look at okay
14:12
here's all the things that I'm equal to
14:14
now how am i different
14:16
oh I'm illuminate that I've lost over
14:19
100 million dollars in paper I'm a a Jew
14:21
de Buddha right like there's all these
14:23
weird things about me but that's my
14:25
difference but how many stories you
14:27
think in America when every millionaire
14:28
in America the average millionaire goes
14:30
bankrupt twice why is it that so many
14:32
people are resonating with me because I
14:34
went bankrupt no it's not that it's i'm
14:37
equal to the up-and-down life of an
14:39
entrepreneur right it's the value-based
14:42
leadership it's the spiritual side of
14:44
what i do is to shift in the paradigm
14:45
the giving back the beloved waiter
14:48
whatever it is my brand in my frequency
14:50
is attracting i'm different how do you
14:52
determine so i mean this is definitely
14:54
Karina's forte more than mine i'm better
14:57
probably at the operations and the sales
14:58
part of it i feel like sometimes there's
15:01
a lot going on youtube podcasts Facebook
15:05
live mmm now is now we're doing that
15:08
kind of stuff how do you determine like
15:09
where to spend your time like what yeah
15:11
so my strategy was crawl before you walk
15:14
before you run and so I always ask for
15:16
Mentors and I was blessed because Gary
15:18
Vee asked me to help mentor his sports
15:21
agency because of my experience there I
15:23
immediately said hey man I don't want
15:25
anything except for can you mentor me on
15:27
this type of stuff and so you know one
15:30
of the things that impressed me about
15:31
Gary's advice to me is he said anybody
15:33
that tells you they totally understand
15:35
you know marketing and you know they
15:38
guarantee you if you spend this much I'm
15:40
gonna get you this many followers is
15:41
full of crap right right he doesn't use
15:44
that word anyway so then so then he said
15:48
it's a matter of trial and error and
15:50
it's a matter of building an investment
15:52
in it so what we decided to do is we
15:54
started with from my demographic
15:56
Facebook and we decided okay Facebook
15:59
we're gonna learn how to market on
16:01
Facebook and then when we have a big
16:03
fall in there we're gonna drive that
16:04
over to Instagram drive that over to
16:06
LinkedIn drive that so for example from
16:09
my strategy although I'm a big video guy
16:10
we're just starting on the YouTube side
16:12
mm-hmm although I do have you know a
16:15
million view videos and bankruptcy and
16:17
other things now we have all these
16:20
different followings so my personal
16:22
strategy is crawl before you walk before
16:24
you run test create as much content as
16:26
you can right right you guys are
16:28
good-looking articulate really fun to
16:31
watch so there's good content that we
16:32
could have and your products are good
16:34
right so start and this is what we
16:36
basically my whole media company does is
16:39
these little short videos and keep
16:40
consistently posting and then one's
16:42
gonna catch fire I think you told me one
16:44
of your videos right it was like triple
16:46
quadruple the other ones a feedback yeah
16:48
so customer feedback it was okay
16:52
whatever it is our strategy would be
16:53
okay start spending some money
16:55
advertising all right use that video
16:57
start using that to build in and so we
17:00
start with small investments so what
17:03
does $50.00 do a day oh wow
17:06
right you're selling a product mine's a
17:08
you know like so coaching you know in
17:09
other things yeah business development I
17:11
created you know the AA DDoS family
17:14
calls me that's you know pays for years
17:16
of it whatever it is but that's what
17:18
we're attracting you guys go from fifty
17:20
to a hundred to a thought pretty soon
17:22
you know you know we went from hundreds
17:24
in budget to thousands right and we'll
17:27
keep on continually building that budget
17:29
because we have an ROI Facebook Ads we
17:32
we do Instagram Facebook we you know in
17:35
we're building each of those so pick
17:37
your favorite platform the one that you
17:40
want to start with and then transfer it
17:41
over but you got to put a budget
17:43
together got to put together for two
17:45
things one creating content got to have
17:48
consistent content every
17:49
and then to the marketing content and
17:52
all you do is start small yes mark you
17:55
know what fifty dollars you'll see a
17:57
difference in our CP M's and CPCs are so
18:00
low because we've just not listened to
18:04
the experts and just trial and error
18:06
right no we came to figure out and then
18:09
what happens to is you create all this
18:10
content every day once you get a bigger
18:12
following like we've been able to
18:14
achieve you can go back and post old
18:16
stuff that may not have got a following
18:17
just because not many eyeballs are on it
18:19
right right right we and we we post up
18:23
it's like oh my gosh this thing is doing
18:25
so well right and six months ago when we
18:27
started this it had like 100 views right
18:29
I make sense subscribers we hadn't say
18:32
six months ago and it goes by like
18:34
something might just hit the right
18:35
person that goes viral we got whole
18:36
frequency so the math of it I know
18:40
you'll love this 3.2 billion people
18:43
mm-hmm that's who's on the internet
18:45
right all you need is your frequency and
18:47
if you can get an engaged frequency you
18:50
know that's what makes I always joke
18:51
around with Gary you have 6 million
18:53
people that are highly engaged my
18:55
audience is highly engaged right well
18:57
you know if I was running on a
18:58
traditional business a wine store in New
19:00
Jersey you know 10,000 people that are
19:04
highly engaged with my wine store is
19:06
phenomenal but somehow business people
19:09
think that the personality is bigger
19:10
than the direct path to revenue so even
19:14
if you start with 10,000 really
19:15
dedicated followers your business is
19:18
gonna kill it and then it goes into a
19:20
hundred thousand let alone a million
19:22
it's awesome never stops when you say
19:25
highly engaged to make it more clear for
19:28
him it's people talking back to you well
19:34
your team obviously that independent
19:38
course a comment gotta get back to them
19:40
why are you talking to one person I'm
19:42
like this is how you start don't know I
19:44
have people crying to me on the phone
19:47
that they can't believe I get back to
19:49
them right away and the advice that I
19:50
give and not to pick sides on this one
19:53
you have to that's what creates the
19:55
difference is that personal touch and
19:57
when you give that an advice there you
20:00
know I send books and people listening
20:02
to this they
20:03
know it you know people ask me I've sold
20:06
40,000 of those books directly why
20:08
because anybody that asked for a book I
20:10
give it to him for free I pay to mail it
20:12
out and they I have an engaged follower
20:16
for life because they know that I'm real
20:18
I'm a beloved servant and they know that
20:20
that I'm not full of it but I'm not just
20:22
looking at it and you know we're trying
20:24
to got guide between us because we have
20:27
dm's and my email yesterday I was so far
20:30
behind that you know my wife was on the
20:33
opposite side please shut your computer
20:34
right and I just had to say look I can
20:37
appreciate where you're coming from and
20:40
I'll sit here with you and be present
20:42
but I have to get back to these people
20:45
you know it's that's who I am and I'm
20:47
trying to create efficiencies but that's
20:49
why I've been able to truly grow as a
20:52
brand that personal engagement is
20:54
essential I am finally that what my
20:56
concern I'm internal security okay I'm
21:06
head of security in fact yeah oh there
21:10
you go I'm already working on a case it
21:14
was perfectly my wedding video got got
21:23
me so much business in place I posted my
21:26
20th anniversary up in that picture so
21:28
that kiss is going up is every time we
21:34
get like we were on the Bravo network
21:36
once we're on ABC I'm Thunderdome once
21:38
yeah we get people reaching out to us
21:40
that I fear sometimes could you know
21:43
aren't looking for the business start
21:45
looking for advice so they're weirdos
21:46
and I thought Crean is so quick to call
21:49
them back I want her to slow down Oh
21:51
call but she called right on her phone
21:56
other side of the advice yeah don't call
21:58
on your cell phone
21:59
thank you it's not gonna skin not
22:00
because I'm too worried about security
22:02
because if somebody really wants your
22:03
cell phone they're gonna get it right I
22:05
always thought somebody wants to break
22:07
into your bank account
22:08
they for some reason want to but the
22:11
point is more on scalability than even
22:14
security right so what I would suggest
22:16
because
22:17
you guys are going to hockey stick this
22:18
is create a process that you can handle
22:21
the requests and one of the best piece
22:23
of advice is that I got was that a lot
22:26
of times people ask things of me and my
22:29
wife's like you have a thousand requests
22:30
a day how do you get back and
22:33
accommodate all the requests I say well
22:35
it's very simple I asked for something
22:38
back so if someone asked me for business
22:39
advice I might say send me your
22:41
executive summary believe it or not only
22:43
1% of the people actually send an
22:45
executive summary ok that cuts that cuts
22:47
so much time so I always say and I joke
22:51
around my team I go if all I did was
22:53
said you know what I'll be happy to help
22:55
you but first you need to send me a
22:56
paperclip hmm that would cut out and I'd
22:59
still but let me know how it can be a
23:01
service right that would cut out 99
23:03
percent of the people now what really
23:05
impresses them is when they request
23:07
something like I really would enjoy your
23:09
book or I'm having trouble and I have
23:11
you very quickly my responses of advice
23:15
because I started categorizing the
23:17
requests you know hey I lost everything
23:19
how do I start up again hey should I go
23:21
to graduate school or how do I get a job
23:23
in sports er I have like a hundred of
23:25
them right and I have my good advice but
23:28
it's BAM done same request and I make
23:31
sure you know my 520 rule five minutes
23:33
every phone calls five minutes every
23:35
meetings 20 mmm and I try to stick to
23:37
that the best that I can all of these
23:39
different things can create efficiencies
23:41
and they're scalable to millions of
23:43
people right give me great ideas IIIi I
23:47
will I will admit I did to take a phone
23:52
call on the way here which was Ben get
23:55
my call by the way make a sale I told
24:00:00
her that I'm happy to help her I'm happy
24:03:00
to coach her how to get into stores and
24:05:00
she said I can't afford you and I'm like
24:06:00
why we didn't even discuss price and ice
24:09:00
and a lot of the stuff we did is on
24:12:00
YouTube and I blog how to get into
24:14:00
retail stores so if anybody wanted to do
24:16:00
it themselves they could just read the
24:17:00
stuff I wrote free yeah but if you
24:19:00
wanted to be coached by me you have to
24:22:00
buy three hango Mattox from Bed Bath &
24:23:00
Beyond value to $45 use a 20% of cool
24:27:00
right
24:28:00
good and she was like okay I'll do it
24:31:00
and then Jared's like do you even know
24:33:00
what a product thinking that it would be
24:36:00
a waste of my time
24:37:00
and I did talk to her it wasn't a bad
24:40:00
product but she didn't speak but I was
24:48:00
doing it out of the goodness of my heart
24:49:00
and it was just hard for me to
24:51:00
understand and she and she admitted it
24:54:00
she was like I would love for my
24:55:00
daughter to call you yeah you just got
24:57:00
to think about scalability at this stage
25:00:00
of your business that's all and you I am
25:02:00
of service but it doesn't do me any good
25:05:00
one of the biggest downfalls I had when
25:07:00
I lost everything is I was of service I
25:09:00
was a really good person I did surround
25:11:00
myself with the wrong people and the
25:12:00
wrong ideas and do some stupid stuff not
25:15:00
paying attention but I was always really
25:17:00
giving in fact I was too giving because
25:18:00
the money to me I didn't have an energy
25:21:00
that I was worthy of making it which was
25:23:00
a big resistance for me so my mom made
25:25:00
$17,000 a year as a teacher when growing
25:27:00
up with six kids and so when I made
25:30:00
millions of dollars a year I almost felt
25:32:00
dirty like I I had this energy that how
25:35:00
could I be worthy of this my mom is like
25:36:00
this exceptional human being and the
25:39:00
universe has rewarded me this way so I
25:41:00
gave it all away well it's okay to be of
25:44:00
service but if you put yourself at a
25:46:00
detriment you're not doing anyone a
25:48:00
service and I've been taught my mom I
25:50:00
said you're a great catalyst my siblings
25:52:00
all went to the Ivy League's I did
25:54:00
fairly well even though on the low end
25:55:00
of the gene pool academically but mom
25:57:00
you know you thought you were helping us
26:00:00
by not taking care of yourself well
26:01:00
actually now I can see it hurts you that
26:04:00
we have to take care of you but we have
26:06:00
to help you it's an ego right if and yet
26:09:00
you were being selfish and it's good so
26:11:00
I always tell people take care of
26:12:00
yourself first and then give to others
26:15:00
you even forgiveness forgive yourself
26:17:00
first then you can forgive others right
26:19:00
everything goes first to me right and
26:21:00
that's why the motto my company is make
26:23:00
a lot of money to help a lot of people
26:25:00
and have a lot of fun if I don't if I
26:28:00
don't make a lot of money how can I help
26:30:00
anybody right plus if you're not strong
26:31:00
in from the inside how could you be
26:33:00
strong for anyone else I guess so makes
26:34:00
sense exactly right and entrepreneurs
26:36:00
they make that mistake all the time as
26:38:00
well as I know you guys talk about
26:40:00
inventors you guys are great inventors
26:42:00
I really like the Hingham attic but I am
26:45:00
an entrepreneur I have great invention
26:47:00
ideas but I have found it falls within
26:49:00
the context of don't get so busy working
26:51:00
you forget to make money right like for
26:54:00
me Ray Kroc is one of my mentors yes
26:56:00
because he didn't invent anything like
26:59:00
even the idea to buy real estate was
27:01:00
somebody else's right but he was such a
27:03:00
great entrepreneur he actually bought
27:04:00
the right to be called the founder of
27:06:00
McDonald's right he put all the pieces
27:07:00
together exactly most people don't even
27:09:00
know yeah you know there's McDonald's
27:10:00
brothers in San Bernardino just up to 15
27:12:00
from you guys and then he had such an
27:15:00
ego that he put the original McDonald's
27:17:00
out of business by putting McDonald
27:19:00
across the street and making him take
27:21:00
the sign down yeah that was just owned
27:23:00
by his first employees so I'm not a big
27:25:00
fan of that aggressive egotistical
27:28:00
behavior of Ray Kroc but what I've
27:30:00
learned from Ray Kroc is there's a huge
27:32:00
difference between being an innovator
27:34:00
and an entrepreneur an entrepreneur
27:37:00
makes money direct path or revenue right
27:40:00
there's a million great ideas out there
27:42:00
and we'll never see them right or
27:45:00
somebody we may write my 89 8.9 million
27:48:00
patents out there and yeah I love I love
27:50:00
the people the couples the individuals
27:52:00
the men the women that can take an idea
27:55:00
theirs or somebody else's and make money
27:58:00
from it because Ray Kroc not only did he
28:01:00
give jobs to people not only did he give
28:03:00
you know a highway system an incredible
28:05:00
booth to travel industry an incredible
28:07:00
booth because in America we had a safe
28:09:00
place to stop every five miles that
28:12:00
looked the same with the same food a
28:14:00
clean bathroom and a telephone that
28:16:00
changed America right the economy's of
28:18:00
what he did and scale to the branding of
28:21:00
America overseas has opened up he's an
28:23:00
incredible entrepreneur was he a little
28:26:00
bit egotistical absolutely was he
28:28:00
completely honest person
28:29:00
I don't think so from what I've read and
28:31:00
watched the movie right but as an
28:33:00
entrepreneur right
28:34:00
what Wow guy could seriously understand
28:38:00
he put the puzzle pieces together and he
28:40:00
did it late in life yes but most people
28:42:00
think entrepreneurs are so young
28:43:00
innovators are young
28:45:00
very few entrepreneurs make any money
28:47:00
and and I get feedback online negative
28:51:00
feedback like hey don't be a buzzkill
28:52:00
don't be a hater don't you know young
28:54:00
people are tell
28:55:00
no doubt young people are talented when
28:58:00
I'm trying to encourage young people to
29:00:00
do is hate accelerate your learning
29:02:00
curve your situation knowledge have
29:04:00
mentorship and learn to make money from
29:07:00
your incredible genius you guys have
29:09:00
great ideas but only a few of you are
29:11:00
truly entrepreneurs right most of you
29:13:00
are innovators who will hopefully evolve
29:16:00
like me and become an entrepreneur but
29:18:00
learn think about the money side so many
29:20:00
people pitch us on that show they never
29:23:00
even knew what they were asking for
29:25:00
right now they just want to pitch their
29:27:00
idea it was weird be surrounded by
29:29:00
people like that we were there you see
29:30:00
yeah we're by people who know nothing
29:32:00
about anything like what am I supposed
29:33:00
to do with that right ok so you didn't
29:36:00
even tell me how much money you want or
29:38:00
what you're gonna give right or what
29:39:00
your business model or direct path the
29:41:00
revenue is you just told me that you
29:42:00
have an electronic frequency that puts
29:44:00
out fire right right terrific and you
29:47:00
had not even a prototype
29:48:00
you know cardboard box that pretended to
29:50:00
do so that's hello you're an innovator
29:53:00
there were people who came in who were
29:55:00
talking to us who didn't have anything
29:57:00
they just had something in their head
29:58:00
yeah nothing on paper nothing to show
30:01:00
and like which is fine people ask me
30:03:00
coming hey come on this show if you have
30:06:00
a great idea I'm ok with that but come
30:09:00
with an idea of how you're gonna make
30:11:00
money from it in angel right right we'll
30:13:00
put some money behind you but don't come
30:16:00
and when I ask you so you know what's
30:18:00
your plan to market and distribute this
30:20:00
I really this is a great idea to put out
30:23:00
fire with the frame it's a great idea so
30:25:00
I think the biggest takeaway from this
30:27:00
from what you're sharing is that when
30:28:00
people come in to try and get an
30:30:00
investment from you you're not gonna
30:31:00
work for them you're gonna invest in
30:34:00
them but there are still going to be the
30:35:00
ones that have to do the work absolutely
30:37:00
right yeah and that's what I'm investing
30:39:00
in people think like oh I'm gonna get an
30:41:00
investor and I'm just gonna sit back and
30:43:00
chill no no when you're big enough and
30:45:00
get bought that's absolutely what it
30:48:00
what happens well yeah I mean I think
30:50:00
I'm excited to see you know
30:51:00
entrepreneurs magazine entrepreneur
30:54:00
elevator pitch second season 2008 March
30:57:00
we film in March 20th to 23rd it'll be
31:00:00
coming out in late April with 12 more
31:03:00
episodes and when those are done we're
31:05:00
gonna film again in September so we have
31:07:00
two more seasons we're filming
31:09:00
this year and we've extended it out four
31:11:00
seasons a sprint is our title sponsor
31:13:00
they've been extremely supportive and
31:15:00
generous which is awesome yeah as a
31:17:00
business because it is a business the
31:20:00
biggest show I've done as an executive
31:21:00
producer and just grateful for everyone
31:23:00
involved
31:24:00
well grateful for you hosting us the
31:25:00
pitch to get rich with Jared and Carina
31:27:00
we interviewed today David Meltzer from
31:30:00
Sports one marketing and he hosted us in
31:33:00
his office and we appreciate that any
31:35:00
time because it's nice to be in someone
31:38:00
else's office right that's awesome I
31:39:00
look forward to working with you guys in
31:41:00
helping you however I can I'm really
31:42:00
proud of you too
31:43:00
thank you thanks for having us thanks
31:44:00
for being on our show