My First Million

The Secret Founders Of +$1,000,000,000 Brands

Aug 15, 2023

01:13:02

Snipd AI

Discover how Emma Grede leveraged the Kardashian's name to build multiple 9-figure brands, Guthy-Renker's success with Proactiv ads, and Scott Storch's rise and fall as a music producer.

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Quick takeaways

Guthy-Renker's success in the infomercial industry stems from their ability to identify market needs, license or create products, and utilize powerful marketing techniques to drive sales.

Guthy-Renker's infomercials have generated billions in revenue by employing tactics like before-and-after transformations, powerful storytelling, and celebrity endorsements to capture market attention.

Guthy-Renker's journey began with audio tape duplications and flourished with the creation of powerful infomercials, leading to billion-dollar revenue generators like Proactiv.

Deep dives

The Success Story of Guthy-Renker

Guthy-Renker is a highly successful infomercial company founded by Bill Guthy and Greg Renker. They started by producing audio cassette tape copies and stumbled upon the opportunity to create infomercials when the FCC deregulated ad limits. They purchased the rights to the book 'Think and Grow Rich' and created an infomercial that generated $10 million in three years. They then collaborated with celebrities like Tony Robbins and created products like Proactiv, which became a billion-dollar revenue generator. Their method involves finding market needs, licensing or creating products, and using powerful marketing techniques to drive sales. Guthy-Renker owns 100% of the company and has experienced significant growth throughout its 30-year history.

Finding Market Needs and Marketing Techniques in the Beauty Industry

00:50

The Rise of Full-Time Content Creators in E-commerce and Software Companies

01:30

Double My Speed

00:33

Emma Greed: The Woman Behind Kardashian Brands

01:32

Introduction

2min

Discussion about an injury at a fancy hotel in Miami

2min

Discussion about a Personal Injury and a Business Shark Behind Kardashian Brands

3min

Building a Fashion Empire with the Kardashians

19min

Eating Out and the Story of Guthie Rancher

2min

From Infomercials to Best-Selling Programs: A Journey in the Self-Help Industry

15min

Infomercial Success: Keeping Viewers Engaged

12min

From Fame to Bankruptcy: The Story of Scott Storch

16min

Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) dive into the business moguls behind the world’s biggest celebrity brands. Learn how Emma Grede leveraged the Kardashian’s name to build multiple 9-figure brands, how Guthy-Renker cornered the TV market with Proactiv ads, and how Scott Storch produced some of the most popular songs of all-time and managed to (literally) blow his $100M earnings away.

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Check Out Sam's Stuff:

• Hampton - https://www.joinhampton.com/

• Ideation Bootcamp - https://www.ideationbootcamp.co/

• Copy That - https://copythat.com/

Check Out Shaan's Stuff:

• Try Shepherd Out - https://www.supportshepherd.com/

• Shaan's Personal Assistant System - http://shaanpuri.com/remoteassistant

• Power Writing Course - https://maven.com/generalist/writing

• Small Boy Newsletter: https://smallboy.co/

• Daily Newsletter - https://www.shaanpuri.com/

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Show Notes:

(0:00) Intro

(2:30) Sam Broke His Finger

(4:45) Emma Grede: Skims, Good American, Safely, etc.

(14:15) Brian Lee: Honest Company

(17:05) Robert Earl: Virtual Dining Concepts, Planet Hollywood, etc.

(26:30) Guthy-Renker: Proactiv, JLo Beauty, etc.

(51:20) Rise of the creator brand

(54:30) Scott Storch: Still D.R.E., Lean Back, etc.

(1:02:15) People who game the system

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Links:

• Skims - https://skims.com/

• Good American - https://goodamerican.com/

• Safely - https://getsafely.com/

• Guthy-Renker - https://www.guthy-renker.com/

• Ben Van De Bunt Clips - https://tinyurl.com/3tchy5su

• Austin Rief Tweet - https://twitter.com/austin_rief/status/1690737829943402497

• Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

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Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

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