#200 - When to Go All In, Teenage Side Hustles, & the Crypto Exchange That Could Have Been

**Shaan Patel** (0:00)
All right, there's this amazing book called Getting Everything You Can Out Of All You've Got. I read it a few years ago and it changed my life.
And the reason I loved it was because it basically talks about how to get and make more money using things that you already have. Coincidentally, today's podcast is brought to you by Business Made Simple. It's a podcast by Donald Miller, who I'm gonna tell you about in a second, but he has this amazing episode that's all related to this book and the things that I learned in this book. It's called How To Make Money With What You Already Have. It's an incredible episode. Talks about all the stuff that I learned in this book. The host is Donald Miller. I didn't know who Donald Miller was up until recently, but over the last 12 months, this is totally by coincidence. It was all separate people. They said you have to check out Donald Miller. He's amazing. So I'm happy that he's part of HubSpot's Podcast Network. You can check it out, Business Made Simple Podcast. It's where he coaches you on how to build your business like an airplane, where the cockpit is your leadership, the body is your overhead, the right engine is your marketing, the left engine is your sales. You have to check it out. This guy's amazing. It's called Business Made Simple with Donald Miller.
I think this is a good strategy. You say no to most everything. Then when you see the thing that you're like, this is it, you go 100% all in on it.
All right, we're live.
You didn't know enough about Red Ventures to bring that up?

**Sam Parr** (1:27)
I talked to somebody who sold their company to Red Ventures and they were telling me about it. And it was like, I just made a note. I was like, fascinating, gotta go research more. So I put it on here just to be like, I'm gonna go research more. And then you added, I know a lot in all caps. So you already know a lot, which is great.

**Shaan Patel** (1:42)
Maybe we can talk about it later. Also, another thing that I actually forgot to add this, I was watching the UFC fight.
And do you remember about four weeks ago, maybe two weeks ago, we discussed this business of giving away like cars, and you have to... I saw an ad at the bottom of the UFC fight. And I think that like one way that I find ideas is anyone who's doing brand advertising. So there's two types of, well, I guess there's many types of advertising, but the first type is performance, which is you click on something and I could see 100% when you purchase and I could see everything about that. And I could like attribute it's attribution marketing, performance marketing is what it's called.
The second is brand marketing. So like billboards or what's another example? I don't even know.

**Sam Parr** (2:27)
Yeah, just TV commercials, right? You do a commercial you don't know necessarily and they try to measure it. But in reality, Budweiser, when they run a commercial at the Superbowl, it's because they're trying to build awareness. They want Budweiser to be top of mind. Maybe they want to talk about their zero calorie beer. They're just trying to build awareness and they're not directly hoping that you watch that, open up your phone, buy Budweiser right that moment. That's not the way that that marketing is designed.

**Shaan Patel** (2:49)
They hope that you eventually walk into the store and it influences you. This is what Geico does.
And often, early stage companies, particularly tech companies who are like savvy with internet marketing, start with performance. And then when they exhaust that, then they go, all right, now we need to like, we just need more people in the world to know about this product. And so what I love doing is, I like looking at who's doing brand advertising because not always, but often, that means that they're like crushing it.

**Sam Parr** (3:16)
Yeah, it's like buying art. If you're buying art, you're rich. If you're buying brand ads, your company's rich.

**Shaan Patel** (3:22)
Yes, that's a great example. And I saw UFC, they have this ad for Watch Gang.
And I think Watch Gang may be sponsored in an embedded episode, but then also like before one of the fights, it said, this episode is brought to you by Watch Gang, getting a Rolex every month. And I was like, what is going on with that? What is that? I've never heard of Watch Gang. And I know a little bit about watches, or at least I'm a fan.