October 31, 2020

Capital University | Meet Bryce Hall’s Newest Mentor — Kevin Harrington

Check out Capital University Podcast Episode Page

Influencers should build things instead of promoting brands, here is why
- Brands pay less as their market power increases
- Your business gives you equity, which lets you raise funds, use other’s resources, build wealth, and stay in control
Always be on the lookout for the best new business deals and investments that get pitched
- Influencers can bring sweat equity to the table and charge fees for their work and consults
  - You get paid for your time while your shares increase in value
- “You are sitting on these deals out in your crowd, but you don’t know it because you are not getting pitched” – Kevin Harrington
  - Utilize your following to build your empire
Get a good mentor

Kevin Harrington (@HarringtonKevin) is the creator of the Infomercial and was one of the original Sharks on ABC’s Shark Tank television show.
Anthony “Pomp” Pompliano (@APompliano) is a Co-founder at Morgan Creek Digital and host of The Pomp Podcast
Bryce Hall (@BryceHall) is the Co-founder of Ani Energy and a social media personality. Check out his Instagram and YouTube

Back when Discovery Channel was broadcasting for only 18 hours/day, Kevin made a deal to plug product Ads during the empty 6 hours
- Later, he signed a multi-year contract to have the full 6 hours nationwide
- This generated 10s of millions a day in sales and marked the birth of the modern infomercial business
YouTube is probably the new form of Infomercial
- That said, infomercials have an average length of 60 seconds which is not ideal for YouTube

Competition is tough in the energy drinks business. Bigger brands have multi-million dollar marketing budgets that let them dominate shelf space
- To compete, Celsius energy drinks utilized fitness influencers to market directly to consumers
- Moreover, Celsius has clinical studies that claim you can burn 100+ calories just by drinking it, and this appealed to fitness centers and gyms
Celsius brought Flo Rida to a trade show and later hosted a private concert with 30 energy drinks buyers
- This lead to 7-Eleven choosing to sell Celsius over Monster energy drinks in its 8,900 stores nationwide

Influencers who promote other brands instead of building their own products are missing out, here is why
- Brands pay less as their market power increases
- Your business gives you equity, which lets you raise funds, use other’s resources, build wealth, and stay in control
  - For instance, you can start an Amazon business that does $2 million/year and gets acquired for $10 million
If being a solo founder is tough, then partner up and form a dream team
- Keep in mind, it’s important to keep control and to have liability insurance

No matter how busy you are, allocate time to find the best new business deals and investments
- If you are an influencer, have your followers pitch you their ideas
- Kevin positions himself to get pitches in conferences and trade shows
Influencers can bring sweat equity to the table and charge fees for their work and consults
- Put your deliverables in your contract, how many calls and meetings
- Your shares increase in value, and along the way, you got paid for your time
  - “I am on 9 public boards and I didn’t pay for any of that” – Kevin Harrington
- “You are sitting on these deals out in your crowd, but you don’t know it because you are not getting pitched” – Kevin Harrington
“If you have a good business opportunity, the money will come” – Kevin Harrington

Get a good mentor
- “You want someone that has been through it. They are going to save you time, trouble, agony, and make you a lot more money” – Kevin Harrington