Talking to Ben about creating luck, his barbell method, + 6 half-baked business ideas

Key Concepts

• First Believer: Someone who irrationally believes in you before you've proven yourself.
• TMJ (Too Much Juice): A phrase used to describe someone with a lot of potential and energy.
• Luck as a Business Metric: Treating luck as something that can be managed and measured.
• Barbell Strategy: Focusing on either very lightweight communication or in-depth, in-person interactions.
• Pursue Moments: Being present and actively seeking out enjoyable experiences.
• Post-Economic: A state where financial decisions no longer dictate spending or time allocation.
• Club LTV: A curated group of e-commerce business owners (originally) or top listeners (proposed) meeting regularly to share insights and network.

Nine $1 Million+ Projects

The speaker and Ben have collaborated on nine projects that have each generated over a million dollars in revenue. The first project was the "All Access Pass."

• All Access Pass: A 90-day email series where the speaker documented his daily business-building activities. Listeners paid to see the behind-the-scenes process of starting an e-commerce brand, raising a fund, or creating a course.

The Serendipitous Beginning

The speaker and Ben's partnership began unexpectedly.

• The speaker was testing CEO mastermind groups, requiring participants to have businesses doing over $1 million annually.
• Ben, a podcast listener, joined with his single-customer business (Anheuser-Busch/Budweiser), generating $1 million/year for SMS list building.
• Despite Ben's success, he seemed bored, prompting the speaker to invite him to collaborate on new ventures.

The "First Believer" Concept

The speaker emphasizes the importance of having someone who irrationally believes in you early on.

• He cites Michael Burch as his "first believer," who hired him for a job he wasn't qualified for and later named him CEO.
• The speaker and Ben actively identify and encourage individuals they believe in, expressing their support directly.
• They mention George Mack and Ean (an old intern) as examples of people they were "first believers" in.

K Academy Experience

Ben attended Coach K's (Duke basketball coach) fantasy camp, "K Academy," a five-day basketball camp for people 35 and older.

• The camp cost $13,000 per person, generating $2 million in revenue, primarily used to support Duke athletics.
• Ben's primary goal was to network with the other attendees, assuming they were wealthy and interesting.
• Coach K gave speeches emphasizing "pursuing moments" and shared motivational techniques.

Ben's Role as a Business Partner

Ben's role is described as multifaceted, focusing on:

• Making the "main mission" happen, which changes frequently (e.g., creating content, generating revenue, having fun).
• Finding interesting opportunities for the business, including acquisitions, investments, and content ideas.
• Networking and building relationships.

Club LTV: Leveraging Audience Insights

To grow the speaker's e-commerce store, Ben created "Club LTV," a free group for e-commerce business owners doing over $5 million in revenue.

• The group met bi-weekly, with members sharing insights and solutions to common problems.
• This accelerated the speaker's e-commerce learning and growth.
• The success of Club LTV highlighted the value of leveraging the audience's expertise.

The Nick Dio Model: Relationship Management

Inspired by Gary Vaynerchuk's relationship manager, Nick Dio, the speaker and Ben recognized the importance of dedicated relationship building.

• Nick Dio manages Gary Vee's core relationships, hosting dinners and events on his behalf.
• The speaker realized the need for someone to focus on nurturing relationships with the audience.
• Ben naturally filled this role due to his extroverted nature and love for connecting with people.

The Luck System: Measuring Serendipity

The speaker and Ben treat luck as a manageable business metric.

• Ben tracks daily activities that could potentially generate luck.
• They analyze past successes to identify the actions that led to them.
• This encourages them to proactively engage in activities that increase their "luck quotient."
• The goal is for Ben to create 100 lucky breaks per year.

The Barbell Strategy: Communication

Ben employs a "barbell strategy" for communication:

• Lightweight Communication: Frequent, brief interactions via text, memes, and social media.
• In-Depth Communication: Longer, in-person hangs to build deeper connections and gain more insights.
• The "middle zone" of 40-minute Zoom calls is considered the least effective.
• Chris Sacca's move to Truckee and inviting founders to stay for weekends is cited as an example of the in-depth approach.

Ben's Wish List: Business Ideas

Ben presents several business ideas he wishes existed:

• Courtside Seats YouTube Channel: Interviewing people sitting courtside at NBA games to learn about their careers and wealth.
• Lunch Bounty: A marketplace for auctioning off lunches with successful people for charity.
• Everyone Needs Their Birkin Bag: Empowering people to make irrational, collectible purchases.
• Survivor (Real Life): A month-long, paid competition on an island for post-economic individuals seeking a challenge.
• Cool Carpal Tunnel Brand: Creating fashionable and appealing braces and support products.
• Coach K in a Box: AI-generated custom motivational videos based on personal data.

Coach K's Motivational Techniques

The speaker and Ben discuss Coach K's motivational techniques, including:

• Custom motivational videos with spliced footage and music.
• Creating shock value and disrupting expectations.
• Using personalized feedback to address specific issues.

Reviving Club LTV

The speaker and Ben propose reviving Club LTV, but with a new focus:

• Curating a group of the top 1% of MFM listeners.
• Hosting monthly happy hour-style networking events with structured prompts.
• The goal is to connect interesting and like-minded individuals within the MFM community.
• Participation would be free, and Ben would curate the group.

Conclusion

The conversation highlights the dynamic partnership between the speaker and Ben, emphasizing the importance of networking, relationship building, and proactively creating opportunities. They also explore various business ideas and motivational strategies, showcasing their entrepreneurial mindset and willingness to experiment. The revival of Club LTV aims to further connect and leverage the MFM community's collective knowledge and experience.