
October 31, 2020
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
- Influencers can bring sweat equity to the table and charge fees for their work and consults
- 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