– What is going on you guys? Welcome back to the channel. So, I'm sitting with a guy here that really should need no introduction in the personal finance space. And that is Nate O'Brien and I wanted to talk to Nate while I'm sitting with him here about building a personal brand or what I view as probably the
best opportunity people have in 2021 to make a million-dollar business. Would you say that's probably one of your most solid opportunities right now as a young person, is
having a personal brand? – Yeah, totally. I mean, it's never been easier to build a personal brand now. You know, you look back 50 years ago If you wanted to build a personal brand, how the hell do you do that? Like you have to you have to write a book, you have to get a publisher. It's really hard to do that. Today it's so easy. I mean, you see people
blowing up so quickly. Right? – Right. Yeah. And so this is gonna be kind
of an all encompassing video.
We're gonna talk about how
Nate and I got started here with having our own personal brands and building these audiences online. Because a lot of you guys who
watch my videos have found me in probably recent years, but most people don't know I've been doing this since October of 2016. So I've been doing this now for four years coming up on five years. And Nate actually was probably
what like 500 subscribers or something like that. – I think it was probably
400 subscribers late 2016. So starting to feel older. – Yeah, I know we're like the grandfathers of
personal finance here. It's crazy. But Nate was so early and
he saw what I was doing and I almost feel like Nate, you saw like the potential
of what I was doing before I saw it. And 'cause you like immediately
after I got started, got into this too with
building an audience online and I feel like you've
always just had this like forward-looking vision about like, what was really gonna happen, 'cause honestly guys,
when I built this channel and started YouTube, I had
no idea what I was doing.
Like I was just doing it for fun. Whereas I feel like you
always saw the potential of what this turns into. – There's definitely a gap in the market. You know, when I went onto YouTube, late 2016 of freshmen in college and I was looking for a way to make money, I had like all my other businesses I was doing lawn care
firewood and everything but I was looking for something
that could really work on. And it was just a gap in the market. You know, when you see there were a couple of finance channels at the time, but they were getting 20, 30,000 views with a 1,000 subscribers.
And there were a lot of people looking for
it and no content on it. So it was a pretty clear opportunity. And I think right now
we're seeing that shift like not so much on YouTube, but actually on other platforms. – Well, I'm gonna get to that later. There's basically to be
transparent guys Nate and I have identified what we think is like the next big opportunity. And we're gonna kinda share with you where that platform
is and what we're seeing but we're gonna get into that later. So just wait a little bit here guys. But yeah, we basically wanna get into a little bit of a story
of our personal brands, how we got started, the situation with YouTube and blogging and some of the
stuff we're involved with. And then what we view as
like the easiest platform for starting your brand in 2021. But the first thing I wanna address here for the skeptics who say, wait a second your video is telling us how
to go from $0 to a million. How do we know? How do they know we're not
just smoke and mirrors, trying to sell a course? – I think could right? We can just be smoking mirrors here now but I don't think you
really sell anything.
I don't want any products I mean, it's like you don't have to worry about some big pitch here. Like there's no how to make $1 million. And it's like buy my $4,000 course. Tryna make money.
– You know that's a thing. I have sold courses in the past. I do very little of that now, it was less than 3% of my
total revenue for 2020. And you don't sell the
course right now, do you? – No Yeah, I don't think you there's so many other ways to monetize and I just don't see the
need for it necessarily. – So don't worry, guys. We're not gonna be teaching
you the business model of selling $1,000 courses. And then you just sell a 1,000 courses for a $1,000 and you're a millionaire because you have to sell
your soul in the process.
And I think we both agree that's not like the strategy we would
want to follow or recommend. So we're not selling you a course. There's no pitch here. We're just looking to provide
you with straight value. And honestly guys, if you
have time, pause this video, grab a pen and paper because
we have four to five years of information here of what we've seen with this shift and these
trends that we're gonna share with you in like the next 30, 40 minutes. So if you like what Nate and I have done, we're gonna basically
hand you the playbook. – So we'll try our best. – And then that being said, guys do Nate is on his way
to one million subscribers. By the time I upload this he
might even have surpassed it like but I'm still gonna
link his channel up. So if for some reason you're
not subscribed to Nate, I want you to subscribe to him after this video and
check out what he's doing.
Even if you're just
watching his channel to spy on him and see what he's doing, – Oh, wait a min. No.
– Strategy wise, he's got all the he knows what he's doing. So no matter what subscribe to Nate for providing
this free value here guys but that being said guys,
let's start off here by talking about how we got
into this in the first place.
– It was you who really started first 'cause it was October, 2016. Right? – October 16, I'm working my
desk job as utility worker. And I started this basically as a hobby because I wasn't getting much
fulfillment out of my job. So I figured, I don't know let me throw
some videos up on YouTube. I recorded them on my
lunch break and I was like, I don't know that you
know how to build credit in your 20s, little videos like this. I had helpful little tidbits of information that I
just wanted to share. How did you get into it yourself? – I was, I mean, so I've been investing for money since I was pretty young. I just got lucky. It was like, I liked numbers. I just, I ended up in it, no trust fund. People always think that they're like, what the hell is like a 12
year old kid doing investing, but it just the stars aligned
with it where there was it was the recession back in '09. And then my grandfather and
my uncle were just starting to like learn about the
Right? And they were putting 500 bucks into it or something like that. So they would talk about
it like Christmas dinner. And then I was just intrigued by it. And then I also had a school project. I think there's a sixth
grade school project where we had to learn
about the stock market. So just all the stars aligned. I was like, this is interesting. I want to see this. And so with 50 bucks paid
a $10 transaction fee for a stock for $12 stock. So, and then, so yeah, I
was interested in investing. I was always learning about
trying to consume content on it, born in the age of the internet. Right? So I was born in '98. So I grew up with the internet. So we had so many opportunities to like, "Oh what does this stock?" Let me Google that. 'Cause my parents didn't really
have a good answer for that. Sorry, mom, if you're watching. But, and so I just Googled
all this information and started to learn this. And then I was looking
for like videos on YouTube of like a tutorial.
How do I invest? Right? – Yeah. – And they didn't exist. And… – Period, they just didn't exist. Like I'm telling you
guys the same thing, Nate and I pretty much found
this at the same time. Like you would, it's like
nowadays when you search for a topic on YouTube
like how to buy stocks, there's 1,000 of videos but like picture a time when
you would search for that, and there would be no video. – It was like, it would be like entertainment stuff.
– It didn't exist. – It would be like a
video of like an elephant.
– Yeah. Like there was no relevant video about the stock market. It was a wide open market. So it was this point
where you could do just about anything and get the views. Like I don't think people really
understand too how quickly our channels accelerated, yours took a little more time. – Yeah.
– But like I started my channel October of 2016 and I hit a 100,000 subscribers
by January 1 of 2018. So I have 14 months, I went from zero to a 100,000 subscribers and I know people that it took
them nine years to do that. So we were able to tap
into this untapped market and that does no longer
exist on YouTube for finance.
Wouldn't you say pretty much
like it's pretty saturated. – It's fairly saturated finance now but there's the point here is that there's always new markets
– There's always market space. – That are not tapped into.
– Yes. – And it might be on different platforms. There are still untapped
markets in YouTube, but it's really all about
finding those markets. And we'll probably talk about that a little bit in this video, but in a sense I do think
that we got pretty lucky – Sure. – With being at the right
place at the right time. And sometimes people like to pawn this off as like, "Oh, you
know, I just, I'm a genius or I know what I'm doing" but really I think it's a lot of luck, but then it's also
looking at an opportunity and then being able to
act on that opportunity, that I think it's really
difficult to have both of those things line up there with like being in the right
place at the right time, and also saying, you know what I'm just gonna send this
cause it's a big opportunity.
– Yeah. And that's important
to understand here too is that like Nate and I, I'm gonna tell you right now I'm best. Nate's one of my best friends. I'll tell you we don't
have any special abilities. Like, do you feel like you
have some special ability that made you successful,
that other people don't have? – No.
– Neither do. – I'm like
– I don't have one – At the same time. I mean, just being totally honest. I don't have like the big story of like, "Oh I dropped out of high school. I feel like Gary V I
got 1.8 GPA, something" Nothing against them. But like, I don't have
like that whole thing, but I'm not that smart. Like my IQ is average. Like, you know – Same here guys, like I was
– Just like other people – I was like B student in high school, went to community college.
I've never been like the
smartest person as far as grades. I never took the SATs
and any of that stuff. So I just wanted to
make sure you understand that like Nate and I are not sitting here and we're not, we don't have
these massive brands based on some special skill. It's just like we saw an opportunity and we just moved on it. – That it's all about. – And so let's talk about
now how we feel our brands are worth $1 million. 'Cause I know a lot of
people looking at this, that's a big number and
it's probably a number that you've never even like
wrapped your head around because when you think about jobs, a job is gonna make it anywhere
from let's say like 40K to like, maybe you make like 150K, it for a really good job, that's like well-qualified. But like we're trying to say these businesses are worth $1 million. And we're saying that based on the five-year value
of these businesses, because I feel like my business is worth, my personal brand is
worth five times my profit for a given year.
Because I think we have at
least a five-year window where we're still gonna
have people watching us in some form. So I don't think there's
really much questioning that. Like if your business is
making at least 200K per year that you're worth $1 million – That's totally true. I think the only problem with personal brand here it's you can't really sell
it right it owed to you. And so for example if I was gonna stop my personal brand, which you know I have 900
something thousand subscribers now, if I was just gonna totally stop it, it would probably over the next five years like it would still make me probably, a decent amount of money but it would have a certain level of decay but I can't necessarily walk
away from it very easily. And that's the one problem
that I do have with it, which is why if we're talking
about building businesses like some type of media company, right? Doesn't matter, YouTube,
TikTok, Twitter, whatever.
I think there is a lot more value in actually outside of
your personal brand. And I don't know if that's the direction that you wanna take this video but like, I think right
now, what I'm focusing on is building businesses that
are not connected directly to my face. – I'm all about that guys, because I'm not, again something that you may not know about me, in 2018, I've sat down
with a friend of mine from high school. And we started a blog
called investing simple.com. At the time it was .blog. We didn't even have the domain for it. And like that business, we
feel now based on our revenue and this isn't just on our assumption, like based on our net profit
for what we're doing each month we're worth 1.5 to $2 million.
– Yeah, that's crazy too because people
– And it's sellable. It's something you can sell.
– Yeah. Oh, my God damn. – That's why it's so important 'cause what Nate is saying
is our personal brands like Nate O'Brien and Ryan Scribner, we can't sell this 'cause otherwise we'd
have to go work for them and I'm not gonna work for somebody. We'll just do it ourselves.
Whereas what we're focused on building going forward
is something that's saleable like a brand, the standalone
brand that you can build up. And then you hand over the keys to someone else and you let them run it. – And you can be the face of it too. Like you could have a YouTube channel. That's not your name,
but it's just a brand and you can still be the
one making the videos but you can also probably
outsource those videos as well. So, you know, it can go either way. It's like, you can still you don't feel like you have to outsource it right away and hire people. – 100 % – You can't do that right away.
– Right. So I would say
that you have an idea now of our backstory, Nate and I did have a
lot of the right place, right time going on but we also were very
resourceful, I think. And we were able to have you more so when you had the foresight of like, what was what we were really building, like I remember one of our
texts where I said to you, I'm like "We're gonna become millionaires in the next 10 years." And you were like, "Pretty
sure we're gonna do that in like a lot quicker time." I'm not there yet, guys.
I'm not saying I'm a millionaire but like I do feel my
businesses are worth, you know at least $1 million
based on their profit that they're making now. And so I think you always saw
what we were actually building versus just having a more
short-term view on it. – Yeah. I guess I kinda
went into it with like as like a business idea. 'Cause I think a lot of people stumble into the YouTube or TikTok,
whatever we're talking about. A lot of people just
kinda stumbled into it. There's nothing wrong with it. But, and I think those
people actually face a lot of creative burnout as well. 'Cause they went into it
just to make videos for fun. And then suddenly next thing they know like they're pulling in hundreds
of thousands of dollars. They need to get a manager. They need to figure all this stuff out. And I guess probably when I went into a little bit more focused on like, okay, I make videos, the videos will make money.
It'll also grow my brand. But speaking of money though, I really view any money that we make from our personal brands
as like a by-product, as something that it's nice to have but I'm not gonna focus
too much on the money. I feel like it always follows. – Yeah, no, I completely agree. And like also guys keep in mind that, when I started my YouTube channel, my goal was to provide value and I'm sure you've heard
this a million times.
We're not gonna beat a dead horse here but like you should always go into this from the mindset of like,
I want to provide value. I wanna provide solutions
and I wanna help people. And as a by-product, there's always a way to
monetize any audience. So you guys have an idea
now of our backstory. We did stumble into it a little bit but there was some careful
planning and we were resourceful. And I don't think that
most people would doubt that our personal brands are
million-dollar businesses at this point, just based on the future
earnings and the valuation.
So now what I wanna talk about is how is this something that somebody in 2021, watching this video with
zero followers on anything could actually start
getting the gears turning and start this direction 'cause I'm gonna tell you right now guys, what we're gonna talk about is building a
million-dollar business over the next three to five years. It's probably very unlikely
to do that in one year. Wouldn't you say? – It's hard to do in one year. I mean, I've seen a
couple of people do it. I've seen go from zero to
half a million subscribers on YouTube in an year.
– Like Let's say Andre. You know Andre. – Andre did it very quickly.
Yeah. – What did he do different? He saw a market of combining
high level cinematography with finance information. Like he basically just made this market. – He just raised the bar. – He raised the quality bar and he was able to like accelerate because of his level of like change and just being so
disruptive in this space. – Yeah. Totally. – So it's not impossible.
It's unlikely. But what do you think is like, let's put Nate O'Brien,
back in square one, let's say you didn't
start the YouTube channel. It's 2021. You're actually watching this video. Okay. What would you do? – If I started from scratch right now? – Right now, this video is
going up in January 2021. Like what is your action plan right now? – A 100% is TikTok. And I think a lot of
people saw that coming, it's most definitely a TikTok. I see people blowing up on it so much, but it's it's so undervalued
the level of exposure that you can get from nothing and the how fast you can grow as long as you're able to build that brand and not be like a sellout like I've seen a couple
of the sellouts already.
They're like pitching some
weird insurance products on TikTok and stuff. And it also depends on
your niche that you're in. So I think probably a lot of
people who watch your videos are probably already
considering maybe finance or something related to that but find something on
TikTok, which I still think that finance on TikTok has
so much more room to grow.
You use that as like
the top of the funnel. Like you use TikTok as the thing
where you get the exposure. And I think Mark Tilbury
did this really well. He was the fastest growing
TikToKer just the other day. Like you gained like half a
million followers in a day or something like that. But you start with TikTok, you get the exposure, you get people to recognize
your brand, your face, right? Even if it's not your face, like you you just get them
to recognize your logo, whatever it is.
And then you use that amount
of exposure that you can get on TikTok, which you could
be getting tens of millions of impressions every month. Pretty easily. I don't wanna say extremely easily but like I've seen so many people do it. And like I put out one TikTok, I'll get like 700,000 views
from like a 100 followers. Like it just instantly. So that's what I would start with. I started TikTok as the top of the funnel and then build out your YouTube channel. This is what Mark did. I tell people about this all the time.
'Cause I watched Mark Tilbury do this. If you guys don't know who he is, he's like four and a half
million followers on TikTok. He gets a lot of finance advice but he started TikTok
you get the exposure, the brand recognition. Then you make the YouTube videos and you funnel people from
TikTok to you YouTube. It increases your click through rate because people already recognize you.
They already trust you. So they're more likely
to watch your videos over other people. – Right? That makes so much sense. And I feel like the reason
people aren't doing this, is because it's not instant gratification. There's not much instant
gratification on TikTok unless you just want the vanity metrics the likes, the followers. And this is the thing that I
think people don't get this. Like when Nate and I
started YouTube channels, there was no money in YouTube. – No, there was no.
– We have no, there was nothing
like we would make videos. And that was before you had
to have a 1000 subscribers and 4,000 minutes of
watch time hours I mean, and that doesn't matter, like get that out of your head, like that is such a
small amount of traffic and watch time that like that should never be your deciding
factor to not do something because that's no money. Trust me. But when we started like
we were doing this probably like I was doing it 20, 30 hours a week. Where you also at that level? – Yeah. I mean, I was in
college, but I was still, I remember I would actually, I didn't tell anybody that
I had a YouTube channel until I had about 10,000 subscribers.
Like they found it, like
my friends in college. I didn't tell them. So I'd be like, "Hey
guys, I'm going to study." And then I'll go to a classroom and just crank out videos at
like 2:00 AM on a Friday night. And yeah, but I think my
first year I did like $900. – Yeah. For a year of work. And so that's the thing guys. Everyone's gonna focus on
where the money is right now. And the money is in blogging still. And it's very much in YouTube. YouTube is like the new money. It's kinda like now
everyone's trying to do that. Like every day, probably a
dozen or so people probably or more start a YouTube
channel and finance, maybe even more than that. – Maybe more than that.
– So hundreds a day starting, like so many people are going, "Oh I see what Graham Stephan's doing. I see what Ryan's doing, Nate O'Brien." But the thing is, I
wanna say this politely, you're about five years late.
– For YouTube videos, yes.
– for you to find what we did. Okay. So it's gonna be very
difficult to do what we did, unless you do what Andre did and you do something so
different and so revolutionary that it just becomes the new
standard of quality across the board. – Yep. So let's actually
just zoom out a little bit. So people can get a
better understanding here of like media and how
people are consuming content 'cause this is really
important to understand this.
If you're trying to build
some type of media business, personal brand, whatever it might be, you have to understand
where the traffic has been. So traditionally, you know,
say, okay, let's go way back from anytime up to the the
mid 90s or the late 90s it was all just box, right? People box, maybe some seminars that was how people got their information, maybe radios, newspapers, whatever. Right? But then it shifted to blogs, and blogs kinda took
that rain for I would say from the year 2000 through 2015 in terms of where they got their
information. Right? – Yeah.
– So for about 15 years, blogs were it and contrary to
what a lot of people think.
They think that blogs make
like what a 100 bucks a month or something. We know a lot of bloggers, especially in the finance
niche who are literally, well, yeah. – I'm not to that level yet. – Ryan is growing a lot.
– Yeah. – But we know bloggers
who have a finance blog that are literally pulling
in $1 million a month. – Oh, yeah
– It's like… – It's a number that's insane. It's a number that you tell people. And even, I mean, like I'm,
I can't share full numbers about investing simple because I have multiple business partners and it's not something that
you'd wanna run around sharing.
"Hey, I'm doing all." 'Cause you're gonna, all you
do is get more eyeballs on it. And then more people are
gonna exploit the opportunity. So we do well with it. I'm not making a million a month, but like there's a lot more
money than you would think. – Okay. So we had this way of blogging where there's like big
money and blogging, right? And then it shifted probably
from about 2015 to 2020 now. And it'll probably keep going
where the money's in YouTube. Like that's where you see the
ad rates are skyrocketing. You can get affiliate products,
a sponsor rates are insane. And so probably from, I
would estimate probably from like 2015 through
maybe the next two years still YouTube is gonna be
like the reigning champion in terms of like where all the money is, the best position to be in. And then now it's shifting
even more in the TikTok, shorter content, easier to consume, a
lot faster to consume, a little quicker dopamine hits. Like just understanding
those shifts in where and how people are consuming content. Because if you look at the overall amount of Google searches, yes,
there's still going up, but it's shifted dramatically from, let's say I wanna learn how to invest.
If I wanted to do that five years ago, I would just search on Google because nothing came up on YouTube and I knew nothing was
gonna come up on YouTube. But now if I wanna learn how to invest, I'm probably gonna go to
YouTube before I go to Google. 'Cause I'm gonna watch a video. Right? – Absolutely. – So understanding those
trends is really crucial. – Yeah. And I think people
are so focused on the name of the company or the platform
versus the media itself. Like we're not like I'm
not so much about TikTok as I am about short form content. That's what I think we're
both getting at here, is it went from like print to
web print which is blogging, to web video to now short web video. And then it's gonna go
somewhere else after that, if you just keep an eye on
what people are consuming and then you just figure
out the big winners there and that's the thing guys like, maybe TikTok isn't the big winner, maybe Instagram Reels pulls the hail Mary.
– I don't think so. – I don't think so either. But like, it's so easy to be omnipresent because you just take your TikToks and you put them on Reels. And so you just do both
and it's just a matter of, "Hey, I made this video, I'm
gonna put it in two places." It's harder with YouTube
because like the there's always been talk of a big YouTube competitor. It's never really happened.
I don't think it'll. – It's not gonna happen
because with Facebook, they don't have a search engine for it. It's not easily accessible. So and that's the biggest thing that's gonna end up hurting them. So basically YouTube is going to turn into like a video blog, which Vlog is where the word came from, but like a video blog. And so it's gonna be this library that you can go back and look on. So YouTube has still easily in
another decade of life in it. It's not going anywhere. It's gonna get harder to tap into it, just like blogs are, but it's still always possible, 'cause like your blog, you
started blogging in 2018. People thought you were nuts. – Right. And we had a rough time at
the beginning like in 2019, Summer of 2019, the blog was
losing $2,000 plus per month.
My business partner and I were
like looking at each other, like what are we doing? Like we're literally burning money. We're setting money on fire. And then it just, again,
it panned out and it worked but like it took some time. But yeah, I would say like
what you wanna focus on is not what works right now because whatever works right now, everyone is aware that it's working and it's probably being exploited. Right? What's working right now
for us is YouTube content. But for a brand new entrant into this it's gonna be really hard. So instead of focusing on where the money is and
what everyone's focusing on, focus on where the money will be.
And I think that's what we've been talking about the most over the
last couple of days. 'Cause Nate and I are now at the point where we're
trying to figure out like we're year four of a YouTube channel, is there a year 10? Is there a year 15? Who knows? But like there will still be
people looking for information but where are they gonna
go for that information? And I really do agree. It's short form video and
probably the answer is TikTok. – Totally. But it's also, even if you're on the same platform, it's finding ways to innovate
to keep your channel growth. Because the worst thing that I see happen with YouTubers is they start a channel and maybe they have their rise, right. They get half a million subscribers and then something happens, right? They just keep putting
out the same content, but the viewers die off. Like they don't get as many views and they used to get half
a million views per video. Now they're getting 4,000 views per video. But you see them like still grinding and just like going, trying to, like you can tell that they're
barely making it by now, because they're making the same content and they're not looking at
it zoomed out and saying, "Okay, how do we map this
out so that we can change?" Like for example, every year I change the
strategy for my content.
I change the style, how
we craft our videos. And I think this is crucial to do because if you're still making, if you're still making the
same, like, okay, for example, if you were still making the same videos that you were making three years ago. – Honestly, Nate, you can use me as an example because my
channel at the end of 2020, was doing was that a three-year law? And it was because of
exactly what you're saying. I was doing the same thing I've been doing for three and a half years. And that's why I had to like
flip my channel on its head and start trying new things. So for a while I did higher
quality cinematic type videos, trying to do like the Andre approach that just doesn't resonate with me because I'm not into like the video stuff.
So I instead tried other things and we're not gonna give
you all of our secrets here but I mean, you can kinda look around, but like it's something you would notice, but I'm not we're not gonna
give you to everything, but honestly guys, like it's a matter of just trying different
things and experimenting. – Yeah. Totally. – Experimenting and not
being afraid to flip things on their head and just break things, kind of you know what I mean? Like even if the video
bombs or it does well like you just have to be
just continuing to change and optimize and just be different.
And I feel like it's those who just cling to what worked and then it doesn't work. Those are the ones that
end up falling off. – And I think that's where
you can tell the difference between and not to sound like
conceited here or something but like that's, we
can tell the difference between somebody who's just
kinda like a one hit wonder like just kind of like
stumbled into it totally. Or people who are really focusing on the big picture,
strategizing, maneuvering, right. Pivoting, you always have to pivot. Right? Think about a business.
Like say that you're
selling radios. Right? Look at radio shack. They weren't able to pivot, like they whoever's managing them. I mean, I know, I actually know. Okay well. (Ryan laughing) Anyway, so like whoever was managing them like they went bankrupt, regular check went bankrupt 'cause they weren't able to pivot. And maybe it was impossible
for them to pivot 'cause they were literally
selling like electronics, but best buy was able to
do something like that. So there's always a way to do that but you always have to be
thinking in the future, What's happening five years from now? what does it look like? And how do I make sure that
I'm best positioned for that? 'Cause right now people are
just thinking about that now. And if you're thinking about the now, if you think about what's happening today, what's working today, you're losing that's my opinion on that.
– Yeah. And like my best
example of what Nate's talking about there is like Netflix versus RedBox, for awhile they were doing
almost the same thing which was serving discs, disc based media to consumers. Netflix was simply mailing it to you. RedBox was doing it at the grocery store. Netflix said, no, we're
gonna pivot to streaming. And now look at Red box versus Netflix . – And RedBox
– There's no comparison. – The problem with
RedBox is that they said, "Oh we're making a ton of money on" if you guys know what we're talking about. It's like you go into the grocery store and you see like the kiosk, like the vending machine that
has all the movies in it.
– Yeah. – And that was really big. And like maybe 2010 era, like give or take a few years. Right? But they looked at it and I don't like I haven't looked into their
actual business itself but I'm assuming they
looked at it and said, "Oh we're making a ton of
money with these DVD rentals. Let's double down on this
and put more money back into putting out more of these kiosks." Instead of Netflix who was
also doing something similar but they said, instead of
putting more money into DVDs, which are gonna go extinct
in five and 10 years, let's instead shift to online streaming.
And that was the big
difference between those two. – And they were getting into something that wasn't yet popular. So that's what we're getting at here guys, is like in order to really pull this off, you need to start focusing
on, what's not as big today but that's where everyone is going. And I'm very confident as well
that it is short form video.
So I kinda wanna take
the last section here and let's just talk some
basic strategy for TikTok because I feel like we
both have a good idea and I don't think people fully understand. I feel TikTok is the most fair algorithm, the most level playing field that exists as far as platforms go because you can have people
that are brand new to TikTok, make a million view TikTok
on their first video. I've seen it happen so many times and you're just not gonna get that with Google and blogging and
YouTube, would you agree? – Oh, totally. And it, you know so many things come back
to basic supply and demand. And I don't know if some of my subscribers are watching this, you know I always talk
about supply and demand, but I love economics by the way, but it's really, you
just got to look at it. So anything in business,
you say how much supplies and how much demand is that? Right? And right now there's so much demand. There's so many people on TikTok. I think the average person on TikTok spending about 80
minutes per day on TikTok.
– Wow! – Yeah. Insane amounts of time. It's like this portal, like you just go into and suddenly like you're in TikTok for two hours and you
thought it was five minutes. It's kinda concerning actually. But so there's so much demand on TikTok. There's some people
trying to watch TikToks but there's not that many
people creating TikToks still. Right? And so there's so much
demand, not very much supply. If you can be on this
end, here you win. Right? And that's what it's all about. And right now the supply and demand for YouTube is probably about level. – Yeah. I would even find you (indistinct)
– It's funny equally. – I would even argue it's
well above the viewership. Honestly, like if you look
at some of the statistics about the amount of video being uploaded to YouTube per minute, it's like an insane amount of content. Whereas like there's
way more people creating than watching I think on
YouTube at this point. – Yeah. So let's get sort of like an actionable plan that people can use here for
what we would suggest doing.
Do you have any thoughts
on that specifically? – A 100% guys. And I mean, like I dabbled
with TikTok a little bit when it first came out
more or less like January of this year when it was
getting big, I dabbled. All right. And I should have stuck with it because I made like five
TikToks in one afternoon. And three of those TikToks
did over 500,000 views. And it was just concepts. It was like budgeting
concepts, 50, 30, 20 rule, basic stuff like that. And I had one TikTok that I shot, that I did it in a
parking lot of a target. And like four hours
later, I opened my phone and I it had two million
views in four hours. – That's insane. – I gained like 30,000
followers from one TikTok. And you don't get that
with other platforms like that doesn't happen
with YouTube very rarely. But I've seen it happen
with TikTok so many times. It just happened to my friend who went to a float spa and he
thought it was super cool. He made a video about it. 500K views in 24 hours. He went from a TikTok page.
When I last talked to me
at 16 followers, right. In the last two days, he's only been doing this for three weeks. And the last two days a
million people have seen him, a million eyeballs. – And you can use that for, you know, well there's products to it. Like sometimes you're just
walking down the street and someone's like "Yeah I love you." – It's just kinda like you get that level of celebrity status kind of thing. Is that where you're
getting at a little bit? – Yeah.
But it's not gonna
look like it does now in two years. So this is the opportunity
and it's not gonna be an opportunity in two years, it's gonna be an
opportunity in three years. – Right. 'Cause in two years, everyone's gonna be doing TikTok 'cause the money's gonna be there now, the eyeballs are gonna be there. And then the supplier is gonna be there. Right now there's like you
said, high demand, low supply. And honestly guys, as far
as TikTok strategy goes, just look at what's
working for other people.
Seriously. – Don't reinvent the wheel. – Don't reinvent the wheel. I want you to take that notebook
that I know you have out because you've been watching it. And I want you to go look at
Mark Tilbury and who else? Humphrey Yang. – Humphrey Yang. – Maybe some other non-finance TikTokers and just like watch 10 or 20 TikToks, but jot down, like even if
you script some of them out, like look at the script, there's a, I'm not giving it away guys because I want you to do
a little bit of work here. But all I'm saying is there's a formula and the formula is what
works and it's repeatable. – And it's just analyzing you know, I actually used to
do this a lot when I would say, how do I grow my YouTube channel? I would look at the biggest or
the fastest growing channels and say, what are they doing? And start to really analyze, okay, well, Mr.
Obese videos, they're
all 14 minutes long. He must know something like,
so you start to really like, how do people start the videos? On TikTok I know, especially it's all about not having any downtime. Like you have to literally you
have to make edits like that. Like you have to cut. 'Cause people have really
short attention spans. Now it's kind of like goldfish and we just want constant information. So if you have any lulls or lags there, it's people are gonna drop
off, it's not gonna go up. – A 100%. I will give you guys one good nugget. And this came from one of the biggest personal
finance TikTokers out there. I'm not gonna mention names just because, you know it might be something
that is more of like a secret but it's not really a big secret guys but like it's enough of
a nugget to help you. If you're doing a TikTok, script out, like write the
script for your TikTok on paper. And then I want you to erase
as many words as possible and convey that message in
as little words as possible.
– Yeah. That's … – To be as efficient as possible. So like don't make a 45 second TikTok if you can do it in 20, even if you feel like you're
not conveying it as well, convey the message in
the simplest way possible in the fewest amount of words and lead with something that's emotional. Whether it's sadness,
crying, anger, whatever like lead with emotion,
convey your message in the shortest way
possible and be concise. And yeah, don't reinvent the wheel.
– I love it. – Yeah. Anything else you wanna add here? Or you think this is, I mean, I honestly guys like
this has been a good playbook. – I have one thing. Look, so a lot of people say
you got to push through, right? And if you watch Gary Vaynerchuk, I don't wanna talk poor on him. 'Cause like, he's great. But I think it's a big
misconception right now that people say, "Oh, if
you have a YouTube channel, you have a TikTok and it's not working. Just put your head down and grind until you're 29 and just work." I think that's one of the
worst things you can do because people end up and
I've seen this all time.
I know people who started
YouTube channels four years ago and they're making the same stuff. And then they put out a 1,000 videos and they have 500 subscribers because
– They're spinning their tires. – Yeah, they say they're sitting
there spinning their tires. And so you always need to
look at the big picture and you know I like to, so people think that I don't work a lot because you might only see one
video on my personal channel like every couple of weeks but I'm always strategizing what's working on the big picture and trying
to find more efficient routes.
And so if you are in a position right now where you're a content
creator and it's not working, it might be time to take a big step back, analyze everything that you're doing and go back to the drawing board. And I think it's important. A lot of people don't do that. – Yeah. Like for example, a
friend of ours was struggling with his YouTube channel,
just like we were. And like, again we're
not gonna name names just because that doesn't add
any value to the story here. But like what he did was
pretty much take weeks off, where he was only uploading
every two or three weeks, his numbers were going way down. But what he did was rebuild an entire brand new recording studio, all new equipment, change literally everything
about his videos, like tore. It's like tearing that
business in that building down to the ground and rebuilding
and questioning everything.
– And don't be afraid to do that. Like if you're just going down.
– And then he posted the video and that video, we're not gonna show you the video but it's making him what
like three four grand a day, three four grand a day
from one YouTube video. And we, again, what I
can tell you everything, but like just know this is
happening behind the scenes and it's somebody we know and he tore it down to the foundation and rebuilt the whole house. So don't be afraid to do that. If you are a content creator that's spinning their wheels right now because that's what I did
to more or less, you know you tear it down and you start over and you don't be afraid
to break stuff, you know? – Totally. I love it. – A lot of reset. So, all right guys I think that's gonna wrap this up here. This was a, I felt super valuable. And do you know if you guys
thought it was valuable too, all that I ask is that you
just thumbs up the video and if you've made it
to the very end guys, leave me a comment and let me know what
you thought about this.
And I'm gonna do my best to
respond to those comments to.. If you have like a burning question here, and of course Nate doesn't
need the subscribers at this point, he's
gonna hit a million soon and I'm super proud of him. But if you're not, for some
reason, subscribed to Nate, look at how much value he just
provided in this 30 minutes, he's got more to offer you. So drop down in the description, subscribe to his channel
and leave him a comment that said like, "Yo I came
from that interview with Ryan" Just so he knows that
people are coming over.
– Oh, thanks. – Yeah, man. Thanks for coming on. It's been a great discussion, even I feel like I've
learned things in this, so I hope you guys got a
lot of value out of it. Make sure you subscribe guys, hit that bell for notifications. So you see more videos like this. Anything else you wanna add? – I don't think so.
Thanks for watching. – All right guys, that's
gonna wrap it up and I will see you in the next video..