Dan Lok interviews Wes Moss on how to succeed in the digital age by leveraging the top business trends that will shape the world in the future. (upbeat music stops ) - Okay now that you, you, (soft instrumental music begins) five years ago... Well, when did you start YouTube? How many years ago? - How was that? - How early of an adopter? - 2014. - OK 14, it's only been five years. - Yeah. - So where are we in another five? (Dan laughs) Are all the mediums that you're on today are they... do they have a oligopoly on the digital economy? Is it gonna just, is it Facebook (ding) and Google (ding) basically? Facebook, Google (ding) obviously owns YouTube, Facebook (ding) owns Instagram. Is it those four, throw Twitter aside if you will. - I think Twitter of course like mmm, right? But with Instagram, owned by Facebook obviously, Google owns YouTube, it's very simple. If you think about kids, teenagers, YouTube becomes a babysitter. (both laugh) - It does! You're so, so right, 'cause I have four kids. - Right? Yeah, the kids grew up watching YouTube. - YouTube's my best babysitter. - You ask them, "Hey, how do you do something?" they're not gonna say l-- YouTube. How do you make this thing? How do you -- YouTube - I learned it on YouTube. My son learned to play the guitar on YouTube. - So they grew up on YouTube. YouTube's the only thing they know. - Yeah. - So, the thing -- - I was "where'd you learn to play guitar? Barney Schwartz on YouTube." - There you go. - "It's my favorite channel." - And how do you connect with fans, with your friends texting or Facebook or different things. I'm sure there might be another platform, but currently, right now, LinkedIn is also becoming (ding) huge. They're going through some big transformation, - Sure - so you kinda wanna be, have the first move advantage if you're selling B to B, right? - Business to Business you wanna be on LinkedIn, and that's Microsoft. So, the three biggest technology companies -- - Kind of the big three, At this point, it's kind of, they dominate everything. - [Wes] They really do. - So, the way that we shop, think about (ding) Amazon. It changes completely, the way that we shop. It sets a different expectation. And look at, you look at Amazon's business model, but they're not just E-commerce, they're now, it's like a global domination. - It is, it is global domination. - They, it's like, people talk about Amazon is not trying to, just be everywhere. They're not trying to just, you know, be an E-commerce company. They're trying to be a company that you cannot live without. - Wow. - It doesn't matter whatever you do, you're gonna touch their business in some way, shape or form, right? - In some way. - Yeah. - It's incredible. - Yeah, even my grocery store now. So it's, you know, they just build a Whole Foods Amazon right next to my house. - Imagine if they have the drone, they can deliver groceries to your door. You get used to that, or even, you know how they have, like, walk into the store and you don't have to checkout, and just, your phone -- - The Prime shops. - The Prime shop. Once you get used to that, guess what? - You're never going back. - You never go back. - Why would I go back to a cashier? - And, it forces everyone else to adapt. Now, Prime shop is how I shop. When I walk into Walmart, "What do you mean I still got to line up and do the -- That doesn't... So Walmart now has to adapt (air whooshing) to what Amazon. So Amazon sets a new standard for the entire industry. So, Amazon is going to dominate for 100% for sure. But, social is so critical and I believe so many companies are being left behind because they think that, "Oh, I don't need to do this" or "I don't have time for do this." I'm like-- You look at my company, really, you have education, different things, but I run my company very much like a media company. - Like a m-- It really is. - It really is. Although I'm not-- - (air whooshing) Not as much as an education company, more as a media company that does education. - Yes, it's a media company -- It does. 100% So I have my whole media division, and that's how we could produce so much content, right? So every company, I believe, need to run it that way nowadays. - What are the millions of businesses, that are so far behind today, do to try to even remotely catch up in the digital world that we are living in today? - I think -- - Or are you, are you doing that at a couple hundred thousand, or a couple thousand businesses at a time? - Yes, say for with what we do, and good question, you know how we have the Closers? - [Wes] Yeah. - The next phase of company, yes, gonna also help a lot of people with the digital marketing side because I have so many people come to me, right? - [Wes] Like, how do we do this? - I have CEO's of big companies, huge companies, right? - [Wes] Yeah. - Asking, "Dan, how do you do your social, right? "Can you train my team? "Or can I hire your team?" - Yes. - I've been getting so, like, 'cause they all they can see (cash register ring) is our results, but they wonder like, "What's the magic?" (gentle chimes ringing) Or is it a fluke, and then when I break down everything I do they're like, "Oh my goodness." - Yes. - Right? And then the next conclusion is, "I can't do this. - Right. - "I need some help." Right? - But, it's hard for you. You can't just bring in a team of people. Well, it would just be a whole nother business model for you. - Yeah, it would be, it would be, it would be. You look at what we do, it's like there are many, many different components of what we do. - Are you thinking about, is that an interesting business for you in the future? Is to train, and scale, 10,000, 20,000, 100,000 businesses to do social better? - Yeah. - Is that a business you're gonna be in? - Because with me, the teaching part, I have training the Closers side which really, talk about money matters, is helping individual generate more income. That's what my whole book is about. - Yes. Yes. - On the other side, with myself, not only I have, like, appeal to the mass market, but, I'm also a member of (air whooshing) YPO, right? So I appeal to the CEO market, which, they come to me for social because I'm so successful in the mass market. So, like, you'll see with, as we grow, it's like two different categories, industries that we in. But goes back to your question, how do we help small businesses to grow, right? Very, very bare minimum, they need to do what I call (air whooshing) Education Marketing. Instead of just, "Hey, here's what we sell. "Here's what we do." That doesn't work anymore. - Yeah. - You need to educate people on... Think about what you do, Wes, right? Your com-- financial planning. - [Wes] Yeah, we're an investment company. - Investment company. How many financial planners, advisors out there in America? - Let's call it a million. - Alright. That's a lot of people. - Yeah, it's a lot of people. - What makes you stand out? You are a media personality. You've got multiple books. You are creating content ongoing, right? - Yes, all the time. - You're putting so much out there, right? That's what differentiates from everybody else. Everybody else is trying to, "Hey, hire me to do your financial planning. "Hire us, invest with us." - Right. - You're like, "Here's my business card." And they go to networking thing. You're like, "No, (air whooshing) "I'm gonna create so much value. "I'm gonna build my audience first. "And when my audience needs my help, "I've been there for so long, for so many years." - See, I think that's the other game where a CEO comes to you and says, "Hey, I see that you've done this." - Yes. - "Let's, how do I get, how do we do this?" But it really is, it is time. - It is time. - It is a lot of time. - And the problem is they think, "Oh I don't have time for that. I'm running my company." (Wes laughs) And I'm saying, "If you don't have time for this, "you're not gonna be running a company very soon, "because you won't have a company." When the consumers-- - It's like saying-- It's like 1980s, I'm not gonna do the Yellow Pages. - I'm not gonna get Yellow Pages, right? - I don't believe in it. (air whooshing) - And consumers are very unforgiving. It is not, like, I see companies-- It's not like, "OK, yeah our sales is like this "it's going, no going, and then it's gonna plateau." No, it's not plateau. It's like this! Within a very (snaps fingers), you've seen it before, - Yeah. - Within, big company, huge company, billion dollar company could go (snaps fingers) out of business in (snaps fingers repeatedly). - In a year. - Like, like that (snaps fingers). - Couple years. Yeah. - Target in Canada, (clicks tongue) gone. - Target in Canada. - Gone. In the span-- - What happened to the store-- (jumbled speech) It seemed so similar... Vancouver, seems like, I could be... I mean, it's a beautiful city, but it could be like a lot of other cities in America and the consumer seems similar. What the heck did Target do that messed up here? - My perspective is very simple. They went into, they did a bunch of acquisitions, opened up a lot of locations, they spent so much time renovating, by the time they spend months thinking of big launch, the few months they were, like the months different locations spent a lot of money renovating, consumers can't shop there, they're already changing their behavior. By the time you open (air whooshing), people are creatures of habits. Now, you want me to change-- I've already shopped at all these other places - They took a year and a half, a year to renovate the store - Now I'm shopping at Walmart, I'm shopping at TNT. - Sorry, I'm gone. - I'm shopping at all these other places. Now, you're price point, like with Target, not too high, not too low, kinda in the middle, - Yeah. - You're not the cheapest, you're not the most expensive so you're kind of stuck in the middle. - I've already picked my new retailer. - And then you're done. Like, can you imagine a few months, you're done! The risk is always being people knock us off (air whooshing). I have people almost every damn day setting up like, fake social media profile pretending to be me. - To be you. - I have a perfect example. I have someone who set up a profile on a website giving people, like, stock tips. - Yeah. - Right? Using under my profile, telling people to invest in this don't invest in that, and all that. So I've got a full legal team every day just shutting this down. - [Wes] Impostors! - Yeah. Well it's, it's identity theft. It's a form of that. - Fake Instagram, fake (mumbles) It's either there or on Facebook and doing, and teaching people to do this and I'm like, "I don't even, that's not me at all, right?" - Well, that's also-- - That's a problem. - That's the price of you being at the very, very top though, too. I mean, there's not that many folks that are as big as you guys. - It goes back to the risk, for us, from what I see not just for risk for me, for anybody, AI, of course. (air whooshing) Right? A lot of jobs will be replaced by AI, right? - [Wes] Sure, sure. - You already see fast food, Uber drivers, delivery services, construction workers. A lot of those will be-- - It's been a while since I traveled even the kiosk to get into the country in Canada - There you go. - It was a, there was a field of kiosk robots to scan my passport and make sure that... (Wes laughs) - And if, if, if, just for fun, if you actually go to China, you will be blown away by how automated things are. - Much more so than the United States? - Much more so. Like, here, a lot of-- Everything is WeChat. We pay through just the phone with almost everything. - In uh ? - In China. - In China. Whereas here it's like, "Do you take Amazon Pay? Or sorry, do you take Apple Pay?" - No, just one thing. One thing. So in restaurants, face recognition (clicks tongue). You take the stuff, (clicks tongue), face recognition, you go.
1 Comments
Thanks for the post, interesting
ReplyDelete