Bryce Hall, Anthony Pompliano, Kevin Harrington on Capital University Podcast

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

Check out Capital University Podcast Episode Page

Key Takeaways

  • 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

Intro

  • 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

The Birth of Infomercials

  • 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

Energy Drinks Marketing

  • 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

Build Things

  • 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

Utilize Your Following

  • 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

One Takeaway

  • 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
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Notes By Mostafa Khaled

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