In episode #2696, we delve into the success story of an agency generating over $100 million in profit. The discussion emphasizes the significance of concentrating on enduring, seemingly "boring" industries like HVAC and water, which boast a steady demand. The conversation also explores the hurdles associated with long-form podcasts and underscores the importance of establishing a distinct angle and brand differentiation.
Discover valuable insights from the triumphs and setbacks of companies like Casper, Allbirds, and Peloton. Uncover how crafting a robust brand identity can serve as the ultimate differentiator in the competitive landscape.
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Check out more of Eric’s content (Leveling UP YT) and Neil’s videos (Neil Patel YT)
TIME-STAMPED SHOW NOTES:
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(00:00) Today’s topic: The agency that makes $100m+ a year in profit, The best industry to be an entrepreneur in, The problem with podcasting today, Why Casper, Allbirds and Peloton Are All Struggling, and Liquid death checkmate
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(00:19) Business model of managing influencers on platforms like OnlyFans
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(01:15) Discussion on the potential profit and team size of the agency
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(02:15) Importance of focusing on basic needs and industries with longevity
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(03:23) Example of a billionaire in the water industry
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(04:07) Success story of a company in the furniture industry
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(06:42) Problem with excessively long podcasts and the need for focused conversations
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(07:38) Conclusion and feedback request from the audience
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(07:37) People going long with podcasts for more listens
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(08:15) Problem with podcasts is the same guests and contradictions
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(08:46) Eric's podcast has been around longer than Neil's kids
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(09:19) Having a unique angle is important for podcasts
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(09:52) Branding is the real moat in business
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(10:29) Casper, Allbirds, and Peloton's unit economics broke
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(11:02) Quality and brand separate companies like Fenty and Jordan shoes
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(11:54) Casper, Allbirds, and Peloton failed to build community and brand
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(12:17) Albird's revenue is tiny compared to Nike
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(13:15) 23andMe stock down 92% due to lack of recurring business model
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(14:06) Eric Siu and Neil Patel discuss the success of Liquid Death
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(14:43) Liquid Death CEO responds to Coca Cola's ad request
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(15:26) Eric Siu and Neil Patel discuss the importance of building a brand
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(16:28) That’s it for today! Don’t forget to rate, review, and subscribe!
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