180: Patrick Bet-David | $100 Million and 1 Million Subscribers

Patrick Bet-David, the founder of PHP Agency and Valuetaiment talks about what it takes to make a viral video, the most pivotal moment of Patrick’s life, and his best networking strategies.

Here’s what Travis and Patrick discuss in this episode:

  • Travis tells a quick story from an excerpt from the book Think and Grow Rich by Napoleon Hill.
    • The story of the gold miner who stopped just three feet from a huge band of gold.
  • How many times have we quit right when we were about to strike gold?
    • We often think it’s preposterous that someone would quit after putting in a lot of work, but it happens all the time.
    • What makes someone stand out when they reach out to you?
      • The team filters the people who want to be on Valuetainment.
      • Guests on Valuetainment are picked and chosen by his team.
      • Be sincere, specific, to the point, and tailor your message to that person.
    • Have you attempted to make a second viral video after your first one?
      • They’ve had two or three other videos that have had a lot of views, but not another 31 million views
      • If virality is your goal, it’s likely that it won’t happen.
      • They shifted their focus from virality to impact.
    • Is the formula to deliver consistent valuable content?
      • The motivation behind the content is important.
      • If you’re trying to be an expert of experts, the standard is way higher.
    • When capitalism got into Patrick’s heart, he realized that entrepreneurship was the route for him.
      • Building businesses became part of his heart.
      • Money is the easiest thing you’ll ever make.
      • We have way too many distractions keeping us from making money.
    • Do you feel that there is an edge or advantage to having an immigrant background?
      • Life is about odds.
      • Growing up in Iran put a lot of fear, anxiety, etc. in him – but the benefit is that you’re more grateful about America.
      • Anything you give to me that’s free comes with a price.
    • How long did it take for you to start PHP from the financial services industry?
      • It took years, he didn’t even know what a mutual fund was.
      • He knew that he wanted to take his father’s money stress away.
    • Is it possible to change something without a big traumatic event?
      • You’re going to change accidentally or intentionally.
      • Be intentional, do it now.
    • How do you find time and how much do you prioritize on-purpose learning and self-education?
      • If he reads a book, its because he’s choosing to read on the topic.
        • He also reads a lot of articles and papers.
        • Nothing is more powerful than your computer.
      • When you started Valuetainment, was it a way to get information or to have debates?
        • He got onto social media last, in the financial industry social media wasn’t really a thing.
        • You won’t know right away who you’re going to be, you’ve got to learn.
        • Start something, the world wants to know what you’re thinking about.
        • Once you understand marketing and storytelling things change.
      • How do you stay relevant?
        • You have to do something different to keep your relevancy.
        • People think that because they’re attractive when they’re 20 they’ll be attractive when they’re 40 and they don’t have to take care of themselves.
      • What are three skills that people need to develop to be successful?
        • Hard work, learn, sell, communicate, stop quitting.
        • You have to be able to read people.
        • The number one skillset for life is learning how to process issues.
      • What will your subscriber event look like?
        • It will be a 2.5-day event to help people think like a CEO.
      • Do you believe that what you know or who you know is more important, and why?
        • Who you know will never make you the expert, it’s one form of equity.
        • With what you know, you’re the expert and people will come to you.
        • Patrick’s focus is more on self-development and who you need to know will show up.

The Random Round:

  • What profession other than your own do you think it would be fun to attempt?
    • Sports owner
  • If you could sit on a park bench with anyone for an hour who would it be, and why?
    • The Shah of Iran
  • How do you like to consume content?
    • Books
  • What’s a book you’d recommend?
    • Laws of Success by Napoleon Hill
  • Give us a glimpse of your morning routine.
    • Up early
    • Spend time with kids
    • Gym
  • What is something that you are not very good at?
    • Not a handyman
  • What is your go-to pump up song?
    • Tupac Hit ‘em Up
  • What is one place where we can find you the most?
    • YouTube on Valuetainment
    • Twitter @patrickbet-david

Tweetable Quotes:

  • Impact is more important than virality.
  • Money is the easiest thing you’ll ever make.
  • I believe that everyone is a capitalist.
  • If you want to be relevant today, you have to have a voice.

Resources Mentioned:

Buildyournetwork.co – Podcast website

BYN.media/fb – Facebook Group

Valuetainment – Patrick’s YouTube channel

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