THE ED MYLETT SHOW - Building A Brand In 2021 w/ Donny Deutsch

Episode Date: May 11, 2021

When marketing guru Donny Deutsch talks, you should listen. Whether you’re trying to build a business or simply grow your personal brand, Donny’s got tons of insights you need to hear. I’ve been fascinated by Donny and followed him for many, many years. He’s one of the SMARTEST people I’ve ever talked with. Donny built Deutsch Inc. into a multi-billion dollar marketing communications company with a roster of blue-chip clients like Johnson & Johnson, Mitsubishi, Revlon, Expedia, and many others. Donny also hosted the CNBC talk show “The Big Idea with Donny Deutsch” and wrote the best sellers, “Often Wrong, Never in Doubt” and “THE BIG IDEA: How to Make Your Entrepreneurial Dreams Come True from the AHA Moment to Your First Million.” In this episode, Donny will blow you away with why social media has to be a part of your game plan and why focusing on MILLENIALS should figure heavily into your outreach. He shares what motivates them and how you can leverage this info to get them to ENGAGE with your business. We also jump into why having a driving hunger, passionate CURIOSITY, and a “Why not me?” attitude is essential if you want to succeed in life. And I think you’ll be surprised at what we both have to say about what money can and can’t do for you. Hint…it’s good to be wealthy, but that doesn’t necessarily mean you’re going to be HAPPIER unless you learn how to USE YOUR MONEY THE RIGHT WAY. You owe it to yourself to listen to what Donny has to say. You’ll walk away with a boatload of new ideas that will make you think for days to come. Be sure to share this one with your friends and family. They’ll definitely want to hear what Donny has to say, too. 👉 SUBSCRIBE TO ED'S YOUTUBE CHANNEL NOW 👈  → → → CONNECT WITH ED MYLETT ON SOCIAL MEDIA: ← ← ← ▶︎ INSTAGRAM ▶︎ FACEBOOK  ▶︎ LINKEDIN ▶︎ TWITTER ▶︎ WEBSITE

This is the Ed Milach show. Welcome back to Max out everybody. I mean, I'm really excited today. My guess is a man that I've been fascinated with for a couple of decades. Not only has he had tremendous business success, but he's this guy when I watch him on TV. He jumps out of the screen. His charisma, his intellect, I find him one of the smartest people, by the way, in all of television for more than a decade now.

The big idea was like my favorite show for a long time. And so I can't wait to share him with all of you today and pick his brain, particularly as it comes to marketing and business. So, Donnie Deutsch, welcome to the show. And what a pleasure to be here. My privilege. Thanks for having me. I'm really excited about this too. So I'm going to go all over the place with you. I'm going to interrupt you. You interrupt me. I'm the first thing I want to ask you. And I meant what I said is I find you so compelling. I'll watch you on some of these panels. There will be three people on the screen. And I'm not just saying, you just jump out.

I don't see the other two people. And I think it's the way you articulate your point. Obviously you're a good looking man. But I think it's a great. You're a man. It's a man, Ed. Well, thank you. I want to thank you.

We should start every show this way. I should just start fawning all over. You tell me how good looking I am and I'll reciprocate. But I'm curious, what do you no longer believe about marketing your business that you were completely sure about 20 years ago? It's something completely changed for you. Wow, that's interesting. Yeah. I didn't understand 20 years ago, social media, this, what we're doing here did exist. You know, so, you know, I grew up, I am just sputting myself in a way where media was traditional media was just media. It was also staying other than who was television and radio and printed

out the warrant and direct response. So, you know, I don't think any of us could have imagined just the power in our in what we would carry with us and how that would dictate how advertising today is really so driven. What goes on in that hour in our in what we would carry with us about that would dictate how advertising today is really so driven what goes on on that smartphone and the images we see there versus any place else. So I couldn't imagine that.

Do you think it's relevant still traditional advertising? I mean, TV print advertising compared to, you know, I get asked, hey, will you put something out on your Instagram story for blah, blah, blah fee? And supposedly that's going to have a more specific and pointed reach than at TV or regular. Let's think about eyeballs and passion.

Now, particularly if you're young, if you're somebody that I have three daughters, like two youngest ones are 13 and 16, they TV doesn't exist today. So obviously the young you are, but if I say to you, okay, I can spend money on a 30-second commercial on television, reach a couple million people, it costs from island of X versus I can reach a half a million or a million or two million people of a passion audience, an audience that's bought, was a reason it's called influencers. So they're not passive eyeballs when they're watching you know, they might have game on the background television or a show that they're watching but if they're following you, the word following nobody follows a TV show. You follow people on social media,

you follow influencers here, influenced by influencers. So you know, I was having this discussion with the buddy of up Steve Madden every day who's a brilliant, entrepreneur, and a shoe guy. We were talking about why don't you ever put another dollar in traditional media again? Really? And he was the interest of discussion is, but there's this thing that's gonna, I take it out to a billboard or something,

and you're building brand awareness, I said. You're doing both the other way. So if you're still, if you're getting enough eyeballs in a targeted message, something on your Instagram or my Instagram or his Instagram, you're also building the brand. They're not separate. So it's not, it's not the old days where you do retail sale ads and that national image ads. It's all on the same. So a Kardashian ad where she's selling a product or using a product in front of 200 million people, that's for selling the product, but it's also building the brand of the product.

They're not mutually exclusive. Everything today is a brand. Every business, every company, every celebrity, every athlete, your brand number. Something's got a Facebook page. It's a brand. So we kind of lens everything through what's going on in the week, talk to thought leaders, you know, got a lot of great guests on and I break down the brands

of the week. So if anybody has anything is a brand today and that's the premise of the week, talk to full leaders, you know, got a lot of great guests on and I break down the brands of the week. So if anybody anything is a brand today and that's the premise of the show and that's really what we do. I believe that. By the way, one of the great things about your show is and I like about mine, I don't just like the interviewer, I like when there's two people that kind of knows something about a topic, talk together. That's the difference in if you have a good podcaster and average one. But as far as the reach of the brand, it's interesting you say it because the difference in if you have a good podcast or an average one. But as far as the reach of the brand

it's interesting you say it because I want to do expand the brand of this show. And we've been talking about doing more traditional advertising, literally billboard airport to expand the brand to a base that may not even know something like this exists. To me, that might still make

traditional advertising relevant because it compared to just. I'm in the business of marketing the podcast. And I think the best way to do it is the world of podcast is and this world is a little separate from us. What they've shown with they've shown the traditional media is not driving the podcast. You've been all coming on and doing my show. Yeah. And all the things that you do that is like you have a built-in

audience of that wants to because so many of the people who are who are not podcast listeners, it's hard to change behavior. My mother's not listening to a podcast, you know what I mean? Most of my friends, you know, I'm 63 years old, I'm only, they're just not going to start listening to podcast. So in order to go into the general media space, you're looking, you're talking to so many people that are going to be non-conversed, that even if they see you and go, let's be looking guy, oh, I heard him, he's like, you're not, so the world is such an expanding world where we are now with social media and podcasts in that world. I would not, I don't think it's money, well spent trip, the interesting. I'm asking the right guy, and I going to tell you it's funny, I'm getting ready to shoot a pilot for a show, and I was not, I don't think it's money well spent tripped the interest. I'm asking the right guy and I gotta tell you it's funny.

I'm getting ready to shoot a pilot for a show and I was excited like, wow, I'm gonna really expand my brand and the people that are producing the show said the same thing you just said they said, actually, it's not gonna cross over. I was interesting when I was working my, but throughout your company is cast and it does my show. And I said, well, you know, I'm on one in Joe

once it's twice a week. I'm on TV three times a week. That's gonna be a great promotion. I don't, well, that's great, but it one Joe once twice a week. I'm on TV three times week. That's going to be great. Mostly go, let's grab, but it's not going to. It's going to convert. That's crazy to me, but it's, it's, it's, it's like you're doing a thing. It's a weird thing. So, because our instincts are we grew, like, okay, now we're getting a figure. Now we're going to go more mass. But now there is no more mass. And the mass is more of just wasted items, you know, so true. You know, the other part of it is I've even I've been doing this for four or five years, but I love what you said, I want to go back to everyone hears this. Everybody is a brand.

Everybody's an influencer, some extent, and I've seen a lot of people do very well, who weren't well-known people originally because they create interesting content. But what's really fascinating to me is the other thing is I forget how prevalent this space is in the amount of eyeballs and or ears that leave and listen to the show because I was also telling the producer, I can't wait, this is going to be big and she basically said to me, as big as you think this thing could get, there's no way you're going to get a couple million people a week watching like you can here, right?

I forget this is big now, even though I'm in it because I'm an older guy. This is the big and the non-traditional media has become a traditional media, like what did it just? And you know, go back to what you said that everybody is a brand, everything is a brand, you know, my $13 a $1, because what is a brand in there? Brand is a value system that we,

if you're Nike or you're Joe Biden, you send out, this is our value system, hopefully, you like it. So if somebody's making a Facebook page or making Instagram page or make a TikTok, they're deciding on values. What people want to see them as, what they stand for. Do I want to be seen as somebody intellectual? Do I want to see somebody fashionable? Do I want to be a little more sexy? And so when my daughter makes a decision that she's going to put on a picture of 13 and a baby, she's going to say, no, no, no she's gonna put on a picture of 13 and a baby she's gonna answer, no, no, no, it's not part of your brand right now.

It's not how. Your brand. I should have been saying that to my daughter, not it's inappropriate. You're off brand right now, babe. You may think that's your brand right now, but not right now. And so we are all, as I said, Republican Republican party is a brand. The Fed is a brand. You are a brand. Obviously, the business is a brand.

So everything, a brand is a value system. So when you set out, when you're putting your show together, and you're doing all the stuff you're doing, everything you're doing is comes from the value system of who you are, what you about, what you want to project, how you want to help people, you know, you're a mission statement and that's everything you're doing. And it's probably natural to you because you're a brand new guy by nature, you know, a marketer by nature,

but it's really everybody's a little bit. So I have a, let's say I have a business, you talk about your 13 year old, but let's, and you also said, AOC, let's just take millennials. I don't even know what the exact age is there. Why X millennial? Like way younger than me, right? What do they want? In a business that they're either going to be a consumer

of or want to go to work for? So if I'm someone here, I'm an entrepreneur and I'm going to market to or hire mainly. Let's just call them young people. What are they looking for? Here are the things in particular water. One thing

and it's been very prevalent in the news lately with Bayesley baseball, you know, Bell and Natalie, all started getting corporations starting to get involved with causes. They want companies with the conscience. So young people, they want companies that have a value system that line up with them. It's very, very, very important. So you have young consumers today that, hey, you know, hey, you're, you know, you're a company, you're in this area and you're gonna stand behind this situation or you're gonna,

you know, discriminate against the LGBT community, you know, you're not getting our money and then we're sort of not coming to work for you. That's number one. Number two, big one, companies, and I saw this one as building my agency. We were one of the first kind of like companies with that big open office environment and offices of the future. I used to come up and do

a lot of photo shoots and all of us people with scooters going around a lot of office just now like that. This has gone back 20 years and they want companies that start with employees, lies that make sense beyond just working with the company. You know, whether it's flexible hours, whether it's just little things like I can bring my dog to work or not. Yeah. But he is the tricky little secret that the Facebooks and Twitter's and all the new age companies and Google's

learned. They seem to be doing what is the most employee-friendly thing in the world. They set up their offices where it's food all day all night, where you go into the, I remember it was up something Facebook, you go into the bathroom and you have every type of product that they just give you, you know, mouth, whatever it is like, you never have to leave. You could and that's the dirty secret. They don't want you to leave. Like so, what seems to be so employee-centric, what they're really trying to do is create an environment where

you just, they're giving you food, not because they're such nice guys. It seems like people come up, oh my God, I get these, I just walk into this place with different options for getting money money. You know, you're going to have this wonderful steak or whatever. No, because they realized having somebody steak with those extra two or three hours in your office, yeah, give them all a course of ten bucks. We have a little so that's really. So there's an IME here at these incredibly employee central companies. One could argue were more. That's the word. More manipulative or not as consumer friendly because you could see more friendly. You okay with people going home it. Give them a little bit more time off. It's interesting. You

say that because I had my caske on Blake on who did Tom Shoes. Right. And you know, they because you could see me from the you can't keep a guard home it. Give him a little bit more time off. It's interesting you say that because I had my caskeying on Blake on who did Tom shoes, and you know they did a pair and give away a pair of that whole yeah, and I'm convinced I've got a friend right now building a big water company same thing and it's mainly

young people that are behind the socially conscious aspect of what they're doing now. What's different them, so I've got a business on marketing them. I completely agree with you and I just great intel. Two, what if I'm marketing more to boomers? What do they want that's different than what millennials want? Boomers don't get market too much because they have their portfolio of brands.

The reason they got more units, they keep 34, they put, you know, I'm not gonna see an end and change my particular at this point. I'm not gonna get, you know, if I like Mercedes-Benz at this point, that's what I'm driving, I'm onto my fourth, my fifth at this point. I'm not gonna get, you know, if I like Mercedes-Benz at this point, that's what I'm drawing on, onto my fourth, my fifth or what not. Whereas young people are choosing their brand portfolios.

So I haven't necessarily committed yet to the insurance company I'm gonna use. I haven't necessarily really, yeah, I'm kind of be here, but I haven't figured out what my clear spirit's gonna be or what not, or I'm certainly going to the movies and I'm buying fast food or whatnot. We are guys like my boomers and I'm a peak year boomer 1957 I was born. You know, yes, we're still talking to us about financial services and things like that, but we're going on a lot of target market list, you know, it's just, you know, and what in our day

What was I think most important to a boob, we were very selfish yet most self-entitled generation there was. So it was always a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be you know, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better life, what's going to be a better about young people trading and Robin Hood and then democratization of stock trading, where they're really not driven as much by money. They want experience, they want quality of life, whereas the young people today, use a dirty secret. The 1824 year old socialism is not a bad word. Socialism to us, including saying anything worse in socialists, you know. And to then, to a lot of 1824s, you know what? I'll take my $70,000 of your job and helpful share ends

to missing that and all I'm safe for life and blah, blah, blah, blah, blah. That didn't exist with my contemporaries, you know? So that can be problematic in this country going forward. Was if we have a generation, I don't know if you're smiling because I know you agree with me. If we have a generation coming up, that's okay with that, we're going to end up a weaker country. You know, such an interesting guy. I thought you thought some of these things, but at the same time, I think I'd maybe painted this

picture that you were a little more, maybe a little bit more left than you then. No, I couldn't swap one MSNBC. So you're in the clubhouse and it kind of gets, you know, but I'm a lot of ways to contrarian, you know, when we're on, look, I was one guy, I remember getting a huge fight with Lawrence O'Donnell on the air, because I said, this is during the primaries, if the Democrats won either Elizabeth Warren or Bernie Sanders will lose 48 cents, because you can label them as socialists. Now, yes, 24 of those like socialists, the rest of everybody else is a verbodal word. And that's the beginning of the end. Once you look, you want to be getting more great.

Knock yourself out. And, but that's not what this country's all about. I never thought, because I think it was about rugged individualism and guys like you, pull yourself up from the bootstraps. And that's what makes us great. That strive to be there individually. If we have a stride to be better individually, we better collect it. That's my big

thing. I grew up in a very liberal home, really, really liberal. My grandfather's union, my dad, my dad was my dad's probably the left of Bernie Sanders, very, very liberal home. Yeah, well, I grew up in Southern Cal, but we're from Boston originally. So I'm from New England. My dad's like a New England Democrat, just, you know, good New England Democrat family. And, but I have over time, very socially liberal, but I'm very physically conservative, which more and more, I know they are, and there's just, there's not a lot there, but I just, I worry about us losing what you just described in

The fight to progress our society. Yeah, I worry about that But you've had a big life. You've met a lot of people and I'm curious. This just give us tips I'm an entrepreneur. I'm a my audiences anywhere from 18 years old to 50 years old Everybody in this audience is trying to do better in life and be happier and more successful. Sure. What impresses you when you meet somebody? You must have been part of this onto your daughters, I guess.

So like, what impresses someone like you when you meet them? So if I wanted to be more impressive, I guess, so to speak, what should I be focused on? The first thing I always look at is, I can bring a chapter one of my books about this, the hungry eye, you know what is I I can bring a chapter on what looks about this. Hungry. I want to see someone's hungry, you know, who's looking to put their thumbprint on something

who wants to make a difference who wants to. You see it now, they're like I gotta do it. I gotta do it. You know, I would always hire people. I would never go go. Oh, let's say. I had a Mitsubishi car count. I wouldn't go, gripping the guy who was doing the advertising

another agency on Mercedes, because he's already done car work. I want the guy wants to make his bones doing the car head and hasn't done it before. They're hungry and they've been passed over for it. So first thing is hunger. People are not afraid to fail, you know, they just think, want to go, they run through walls of keep doing it. People who are curious, you know. The what I would say if people in India

that is such an interesting dynamic power position, beyond the obvious, if you need to do your homework and do your talking to them right now, is quickly as you can start interviewing them, like not in a way that is in any way seems arrogant. But that the soft text to the person in you is like, oh, just wasn't trying to see if this job is right for that. They think they're that good and not an arrogant one. But like, you know, I see that you guys do business. I think that's really interesting. Tell me why you do it that way. And that's so like

that you kind of redistributed the power and the interview. And at the same time, somebody saying this guy's inquisitive and interesting and what not just glam about himself. So, you know, curious is a big one also. I'm curious. Here is one of my top ones with my friends just in general. I interrupt that you go ahead. What were you going to add to that? No, I'm just saying that you use the energy candidate thing.

You know, when you were talking about, that's a great insight by all of you. But that's it. Someone who's got that life energy, you see in their eyes, there's a twinkle, there's a passion, there's a drive, there's a, you know, because you know, at the end of the day, there are no geniuses out there, you know, yes, I've met a couple of Bill Gates, you know, there were a few of them out there. But most guys, what I met in business, when I met the top 50 CEOs or big celebrities or big politicians, they all have the same thing. They're no geniuses out there.

They're hungry, they're driven, and I'm afraid to fail. They get up. And they have a sense of entitlement. This is the secret sauce. This is where I want to give two linens. And this is what I met with every Uber successful person. Beyond the toolbox of being hungry and driven and smart, they kind of say, why not make it? You know, nobody was going to give you

a big podcast. Nobody was going to turn you into this big motivational guy. Nobody was going to come up to go get into until you go, no. Wait a second, I listen to other people talk. I actually think I have as much of not more to say. I knew I was able to inspire that one guy, sitting back at the door, and he had to have, it's not arrogance, it's just a little bit of a talent. Why not me?

So for that next big thing to happen, if I want to run from there, nobody's going to come to me and go, hey, Donny, you're a great guy, you should've from there. Instead of, and I said to myself, there, nobody's going to come to me and go, hey, don't, a year great guy, he should've from there. Instead of, and I say to myself, no, I can raise money. I love this city. I'm a great speaker. I know the right people. I can run a business. Why not? And it doesn't mean it's going to happen, but until you say that, it actually magically came out. God, it's so interesting. It's the timing of that's fascinating. We're recording this now, but tomorrow,

and it won't be sequential when this comes out, but releasing an interview with Michael Chandler, is a USC fighter, just want a big pay per view, good friend of mine. And he had lost, he had a three year losing streak. It lost like 500 days in a row or some crazy number, I don't know, three, 500, something like that. And I said, what was the difference?

He goes, I finally goes, he goes, someone has to win, why not me? Does it? Yeah. Exactly. And she just said, he goes, someone's got to win. There's only two of us in there. Why not me? Right? And finally, it occurred to him. I mean, I think that that is literally, I think that word in title, it's really interesting. I think successful people. It's a good word. Not in the best. Sometimes we get entitlement and it gets a bad rap. I don't mean arrogance. And then I got for meeting so many Uber successful people and go, yeah, this one, but did not like,

there was no white light around them. You know, there was nothing cup emanating from them that I didn't have. I agree. I think the arrogance part removed is you're right. I think really successful people have this kind of this interesting

line they tow, which is tremendous self confidence with a scoosh of humility. And that's that line, because some guys we've talked about previously don't understand. And the really successful people, I know, have that entitlement with humility. I think that is the real bounce, the great athletes, I know, the great business people. They have a bigger they are, more humble they are. They recognize how fortunate they are. They don't have any need to prove. And they also understand a little luck has been in the game. That's correct. There's every time I meet, the guy that says, nah, it's not about luck. No, it's certainly

not just about luck, but you need the right bridge. You have to create the brakes. But you need to up one or two or three things that chip the FOIA away the right time. 100% timing matters. I asked you earlier what your thing was that's changed. And for me, I used to think timing was overrated in business. And now I know timing's a huge deal. The breaks are a huge deal. You could be the greatest chef in the world. If you opened your restaurant January last year in New York, your timing was really bad. Right. So the breaks timing

those things actually factor in. I might ask you about meeting all these successful people and you being one. For me, it was interesting whether they were successful or not, especially the ones I've got to know over the years. I thought they'd all be happier. Meaning I don't mean happier than they were. I just assumed once you get there, almost everyone's happy. And the truth is they're not. And I'm wondering,

just in general, successful people and just people in general, why do you think more people aren't happy? I think let's talk about successful people. I think they're self-actualized, but they're not necessarily happy because there's very thing to draw about. It's like, by the way, I'm 63, why am I starting to talk about that? You're speaking about that same thing a lot, brother. All the people, you know, it just, it's like, it just, you know, because it's like, what's next? You know, it's like, we're gonna go visit you money. You know, like just, oh, those grand old days when I did that, you know?

We don't wanna feel relevant. We don't wanna feel vital. And so the very thing that fed the beast in the first place, continue needs to be fed. I was just a star. I sold my company at pretty young age, 43. It had a great capital event. I remember people would say,

oh, why don't you want to just go play golf now? What? You know what I mean? No, the reason I did, I wanted to challenge myself to try something new. I felt I'd already kind of won the game. I've been chopping on books with a multiple mountain theory that if you're really lucky and you're 100 to 1% and you made a lot of money, you

get self-actualized and you you there's a irony, there's a pillow that comes with success because there's no more margin of found it's just degrees of success. Like if you think about if I just say to advertise, so would we go from three billion to three point two billion? Would we be up 17% this year versus up 9%. I wasn't going on a bit like at what? Like at what? We were a cool big energy.

I was like, well, no guy. I was making a lot of money. It was like, I walked into three hour meeting and I was going in 30 seconds. So I wouldn't resist so my company I went to force myself to feel like I was at the beginning again, and television. I was like, I like I was at the beginning again and television. I was like, I wasn't a well-known guy in television

and I kind of regenerated myself. So I would say to people, if you're fortunate, not just for me to say straight from the core confidence because as Buffett says, you find one thing to great out. You back it, but try and create new mountains because that's what keeps the energy going. It's interesting when I was young and I wasn't the guy that was successful yet,

he's thinking, when I get there, that is what I'm going to do. I'm going to lay on the beach, I'm going to play golf. It's going to be the, but then the person you have to become, the requirement by the time you get there, is you no longer think that way. And I, I do that sometimes too. I'm talking to you. I'm looking at the Pacific Ocean right now,

right out here in the backyard. And I do have those days where I'm going. Now, what am I doing? Why? You know, you have those days for sure, right? But then there's this other part of me, it's like, well, what am I going to do? Just sit out there all day and look at water. I mean, what the hell would that be? So, you know, and look, we all meet some new passions. I always say to people also, don't sell your business until you're ready to want to do something else because you can,

I don't care what the number you get for it, It's like it can't be busy on and to your earlier question a couple minutes ago and this is a comes from a wealthy guy. Money doesn't make you happy. It makes you more comfortable in the South's problems. So money is really, really good and you can throw it in a lot of problems or but as the end game, we have a lot of miserable people with a lot of money. You know, look, you don't look home to your spouse or your partner. Like how happy, how can we win?

You know, 100% to it's hard when people listen to the two rich guys say that when they're on the market. Let's talk about this. But yeah, but I will also, and I know you mean this. I mean, it's you, I will just say, listen, I recommend it. I was happy poor and I'm happy rich and happy rich is way better. I totally recommend happy rich over happy poor, but you're at 100% right, but it's also a magnifier. Money is a magnifier.

I think if you're buying large, a pretty good person is going to magnify that. If you're a little bit of a curmudgeon and take advantage of people that magnifies that, if you're a giver, it'll magnify it. If you're a warrior, it'll magnify it. I think it's a big time magnifier. Now, speaking of exiting a business, let's talk about starting one really quick. We got a little bit more time.

Should everyone do it? In other words, is everybody an entrepreneur? I say to people this, if you have the opportunity in your life to do your own thing and not work for other people you take it because it is When you're working for other people the amount of energy that's spent on Managing up and the you because like someone one person controls or two three like not doing the job but

Impressing the person who you work for or managing this person and doing that versus like there's such a liberation when it's just you. And I think we live more than any time, more than any time the prices of entry are so much lower. Look, look, with the technology today, anybody can start a business. It was very different 20, 30 years ago. So I always say, and when you have a business like I'm a big, it you know, it's like it's this thing and it's an extension of you. And you know, you're working till two in the morning. It's not work because it's you.

So I always say people, I used to challenge people to work for me. I just go start your own agency. I thought they were great. And like, yes, I love you working here. But if I'm paying you $100,000, that means you work $400,000. Yeah, right. That's called profit. I'm just using math, you know. But no, to anybody out there, go for it, you know, and don't wait to the other thing

also that we got to build a goods that we got sold to build goods on is that, you know, you got to put in your 20 years of the corporation and you got to worry, no, you know, because what happens is you get the golden handcuffs and you're always saying you got more good, you got kids, you got a big salary. So I mean, young means when you take the shot, you know, and so.

Boy, do I agree with that? I keep hearing a lot of these influencers. Man, do we agree on a lot? Say, hey, be patient in your young and I'm thinking man, no one said that to Zuckerberg. Right. No one said that to Gates. No one said that to Cuban.

No one said that to me. No one said that to Cuban. No one said that to me. No one said that to you. Like, I got after it, young, when I had energy, when I had time, when I had... And you have time to fail. Where it's like, I can't... And come back. Right. And do something major now, and risk a huge part of what I have, and what I've not

like, it's not going to happen. I'm in a different life part of my life curve. Well, you're young. So even if it doesn't work, I always say to somebody, there was, I'm a dear friend of mine who's a big talent agent person. And he was thinking about starting his own thing. And I was like, you can always have this.

You, what you are now, I see your part and where these firms go out to be thinking, this doesn't work, you get it, I'm not going to say this job, but a job like this. Right. Nobody's taking your assets away from you. You know, it's not, you know, so I always say go for it. That's me. Now, some people go out and want to study paycheck. I need it's too risky. I could say it's more risky, having your hands and just one person, you know, fake one person's hands, you know, a boss who can just blow you out any one day and you're at a work. So I don't know, is it risk you to be on your own?

Not necessarily. Oh, that's very good. That's, I've not heard that said that way before. That's very good. The only thing you all need to know are people tell me, Hey, I don't have a job anymore. I'm an entrepreneur. I'm like, well, I hope you understand. You know, have six jobs. So the amount of time requires, especially in startup phase. Don't underestimate it every putty. If you're you're getting up late, I can't believe how many entrepreneurs I see get up later than they did when they were an employee.

It's like it blows my mind that they don't understand the circumstances they find themselves in now. Okay, a couple more things about business in general, because we both agree about this. I hate long meetings. I hate them. I hate them. And you speak to that very eloquently. because we both agree about this. I hate long meetings. I hate them. I hate them. And you speak to that very eloquently. So please school everybody right now that's leading anyone. If you take anything away from this, one productive note, it's this.

What I used to drive me crazy, I used to look at my calendar and it was a meeting schedule, you know, from one to two third, you know, for whatever this team about this month. And I go, who dictated that this is an hour and a half meeting? And I would change every meeting to 15 minutes. I would say, I'd cut every meeting by three quarters of the amount of time. Because two things happen. Not only do you save all that time, the thinking gets very linear and very forced.

Because I have to pay a few notes of this like, I'm out of the queue. You know, I fill up that space. And I say, as a company, we have an amazing capacity to meet, cut them by two thirds, cut them by three quarters. You will free up your day and they'll actually be more productive. So good. I have a thing now, guys, where I do eight minute meetings. It's this is an eight minute problem or 22 minute problem. I want to know that. Like, and I got that part of my culture and my environment now. You're listening to one of the top minds that I, everybody, you know, I've had a lot of people on the show. You've already billionaires on here. I'm telling you that when I've listened to this man over the years, I thought this to one of the top minds that I, everybody, you know, I've had a lot of people on the show You've already been hearing airs on here. I'm telling you that when I've listened to this man over the years I thought this is one of the smart people I've ever listened to on television

And so when he says these things to you take it to the bank last thing I want to ask you And thank you for today. It succeeded my expectations. I knew it would be great last thing So let's we can't deny the obvious though. We're talking about business and entrepreneurship And we've just come out of a pandemic and a lot of people are still hurting. So if I'm one of these people that I'm listening to this, I'm inspired. I've got some great tips and insights today. It's probably one of those shows everybody that you'll share with everyone and you're probably going to go back and listen to her watch one more time. That'd be my guess. But what advice would you have if I'm making a comeback? I'm an entrepreneur. I'm going to make a comeback now. Maybe I'm even an employee.

And I'm like, you know what, you're right. This time around, I think I'm going to control my own future. What advice would you give to somebody who's going to have to make a comeback now? You just actually gave it in your question, you formed it, is that this is, I'm almost getting a fresh thought. You know, small businesses, even if they went under, and I know this is so painful,

but they were probably certain things that you structurally weren't set up right for. And that's why it's so like, everybody gets a fresh start. So in other words, it's like, kind of look at it, instead of, what was me, I lost my job, or my business went under,

we right now are gonna have winder our backs for the coming year or two. I mean, business is gonna be strong and get in there. And also say, what are the things people gonna need post-penneditor? What are the things where it's interesting? So anything, you just saying we're coming out of a dark cloud, I'm gonna be one of the guys

that takes advantage of this reboot. Where the entire country's going through a reboot. I think there's a lot of permission to build and to start and be fresh. Very good. And guys, I want to just add on to what he just said. It's so true. You go back and study where most fortunes were made. They were in economic reboots. They weren't in the best times. They were in reboot times. You can go look at Amazon. You can look at Netflix. You can look at most of these businesses were built during reboots. And this is like the mother of all reboots. I just saw a thing today, GDP is going to be huge. 19 million people probably hired the next year. So there's good stuff happening.

Yeah. Today was awesome, man. Thank you for doing this. And Joe, the audience is, you built a great business. Thank you. And your business is about giving back, which is wonderful. And in a little time, you spend, I can see how much you enjoy what you do and the passion you have for your audience.

When you do such a congratulations. Yeah, I enjoyed you. So thank you. Donnie Deutsche, everybody share it with as many people as you can. God bless you, max out. We are the best. This is the end my let's show. We are the best.

This is the end my let's show.