Podcast Summary
From Reality TV to CPG Investing: Dylan Barber's Journey: Despite a rough start in investment banking, Dylan Barber learned the importance of questioning why and left to pursue reality TV. Now, he's a successful CPG investor, emphasizing the value of understanding the 'why'.
Dylan Barber, a reality TV star from The Bachelor and Bachelor in Paradise, has a successful startup company and is an expert in CPG investing. Despite his time on reality TV, he had a less-than-ideal experience in investment banking before leaving to join the show. The intense work hours and lack of questioning skills led him to realize the importance of understanding why he was doing something. While on the show, he admits to stirring up drama but has since matured. After graduating from college without a job offer, he chose to pursue other opportunities instead of the intense banking lifestyle.
From Private Wealth to CFA: Overcoming Challenges with Determination: Determination and a strong work ethic can help individuals overcome challenges and achieve their goals, even with a difficult certification like the CFA.
Determination and a strong work ethic can help individuals overcome challenges and achieve their goals, even in the face of seemingly insurmountable obstacles. This was exemplified in the speaker's experience, who started in a private wealth management role at Morgan Stanley but felt unchallenged and decided to pursue the CFA designation instead. The CFA, known for its rigorous and challenging tests, has a high fail rate, but the speaker passed both the first and second levels within six months. Despite starting with average grades in high school and college, the speaker's drive and focus allowed them to nearly ace the Series 7 exam and eventually pass the CFA. The journey to achieving the CFA designation required dedication, hard work, and a belief in one's abilities, even when faced with setbacks and pressure.
Unexpected opportunities from unlikely places: Stepping out of your comfort zone and taking a chance can lead to unexpected opportunities and experiences.
Unexpected opportunities can come from the most unlikely places, even if you initially have reservations. The speaker, who had never seen The Bachelor or Bachelorette before, received a DM from a casting producer and was offered a spot on the show. Despite his initial hesitation due to his lack of interest in publicity and potential legal issues with his company, he eventually decided to give it a try. His mother, who is an attorney specializing in entertainment law, advised him to read the contract carefully before signing. Although she was initially displeased, the speaker eventually returned to work after filming the show. This experience demonstrates that stepping out of your comfort zone and taking a chance can lead to unexpected opportunities and experiences.
Starting a business involves personal sacrifices and risks, even in family partnerships: Starting a business with family can be challenging, with unequal equity, long hours, and potential for conflict. But the potential rewards make it worth the risk.
Starting a business involves taking risks and making sacrifices, even when it comes to personal relationships. The speaker in this conversation started Vysor with her cousin, but they didn't initially split the equity equally. Instead, the speaker joined the company with a stake close to 50%. They worked tirelessly for years without getting paid, and even considered the possibility of being fired by their cousin. Despite these challenges, they continued to develop their app, which was initially just a prototype, and met with hundreds of people to get feedback. The app was expensive to develop, but they managed to find a contractor to build it for a more reasonable price. The goal of going on a reality TV show wasn't to promote the app, but rather to gain exposure for the company as a whole, which was expanding beyond just a wellness app to become a multi-faceted platform in the health and wellness space. Through it all, the speaker remained committed to the business and the relationship with her cousin, knowing that the potential rewards were worth the risks.
Starting a Business: Passion, Planning, and Partnerships: To start a business, combine passion, smart planning, and consider partnerships for growth. Use OPM for expansion and be willing to use savings to get started. Believe in yourself and work hard for success.
Starting a business requires passion, determination, and smart financial planning. The speaker discussed their experience launching an app that allows users to log workouts and donate to charity, with plans to expand into corporate wellness and partnerships with brands and charities. They emphasized the importance of behavioral economics in the incentive model, offering daily and weekly rewards. When asked about starting a business without significant financial resources, they suggested working a full-time job while pursuing your passion, and being comfortable with the risk of using your savings to get the business off the ground. They also recommended considering both the "OPM" (Other People's Money) and "go all in" approaches, using the former to grow the business and the latter to retain equity. Ultimately, success comes from a combination of hard work, smart decision-making, and belief in oneself.
Sharing personal experiences and taking risks can lead to growth: Despite minimal compensation, going on reality TV shows led to personal growth and relationships for the speaker, highlighting the importance of taking risks and seizing opportunities.
Personal experiences and opportunities, even if they come with risks, can lead to significant growth and potential rewards. The speaker, who appeared on The Bachelor and Paradise, shared how he made the decision to go on the shows despite the risks and uncertainty, ultimately leading to personal growth and relationships. He also mentioned that he didn't negotiate compensation for his time on the shows, and the pay was minimal. However, the experience and opportunities gained were worth more than any monetary compensation. The decision to go on the shows was driven by personal reasons, including a recent breakup and the death of his father. Overall, the speaker emphasized the importance of taking risks and seizing opportunities, even if they come with uncertainty and potential downsides.
Going from no platform to 'king of Paradise': How appearing on Bachelor in Paradise boosted an influencer's following and career: Appearing on a reality TV show like Bachelor in Paradise can lead to a significant increase in followers and earning potential. Monetizing this influence can be challenging, but finding authentic partnerships with brands that align with interests can lead to success.
Appearing on a popular reality TV show like Bachelor in Paradise can significantly boost an influencer's following and earning potential. The speaker, who was a contestant on Hannah Brown's season of The Bachelorette and later appeared on Bachelor in Paradise, shared how he went from having no platform to becoming the "king of Paradise" and gaining over 100,000 followers within a few episodes. He also mentioned how the delay in airing times led to a surge in social media engagement and trending on Twitter. Monetizing this newfound influence came with its own challenges, and the speaker mentioned feeling uncomfortable with doing ads and struggling to find authentic partnerships. However, he eventually found success with health and wellness brands, as they aligned with his interests and daily work. This experience took place three years ago, and the influencer marketing industry has continued to grow exponentially since then.
Measuring ROI in Influencer Marketing: Brands use point-of-sale integrations and mobile offers to track in-store purchases from influencer content, and the cost of influencer marketing may be more efficient compared to other ad platforms. Brands focus on paying for content, not following size, and explore retainer agreements and outsourcing social media management to influencers.
Influencer marketing, despite its perceived high cost, remains an effective way for brands to reach large audiences, especially in the CPG industry. However, tracking the success of these campaigns can be challenging when influencers do not directly link to products, making it difficult for brands to measure the ROI. To address this issue, some companies are using point-of-sale integrations and mobile offers to track in-store purchases made after seeing influencer content. Additionally, the cost of influencer marketing may be more efficient compared to other advertising platforms, such as Instagram and Facebook, where acquisition costs are much higher. In the future, brands may focus more on paying influencers for content rather than their following size, creating a more sustainable relationship. Brands are also exploring retainer agreements and outsourcing social media management to influencers to create a steady stream of content. Overall, influencer marketing continues to evolve, and brands must adapt to these changes to maximize their impact and return on investment.
Investing in Healthier CPG Brands: Influencer invests in 500,000 dollars worth of healthier CPG brands, focusing on the potential of the founder and the better-for-you space.
The influencer in question uses the money earned from influencing to invest in high-risk CPG brands, focusing on healthier alternatives and the potential of the founder. They look for brands in the better-for-you space and have invested in various companies, totaling around 500,000 dollars. The influencer refuses to be part of syndicates due to fees and carries, preferring to negotiate directly with the companies. They believe in the power of small steps towards healthier choices and have a strong belief in the potential of the founders they invest in.
Value-added services and founder-friendly relationships: Offering value-added services and being founder-friendly can lead to beneficial investment partnerships. Diversify investments, consider real estate or consumer brands, and avoid high-risk investments like crypto.
Being founder-friendly and providing value-added services can lead to mutually beneficial relationships in the investment world. The speaker, who is a founder herself, plans to be more assertive in future negotiations by offering additional value and advisory shares. She also emphasizes the importance of diversifying investments and suggests considering real estate or consumer brands, especially during uncertain economic times. Additionally, she advises staying away from high-risk investments like crypto. Overall, the conversation highlights the importance of understanding the market, being informed, and adding value to build successful investment partnerships.
Unexpected connections can lead to opportunities: Meeting new people, even at random events, can lead to valuable connections and unexpected opportunities. Perseverance and a positive attitude can help businesses grow despite challenges.
Sometimes, seemingly random encounters can lead to unexpected opportunities. The speaker shared a story about meeting someone at a football game who turned out to have connections to successful businesspeople, including the president of the Green Bay Packers. This unexpected connection led to the speaker receiving field passes to the game and even being introduced to potential investment opportunities. Additionally, the conversation touched upon the founder of Vysor sharing their experience of winning a startup competition and using the prize money to grow their company. Despite the challenges of the past few years, including the COVID-19 pandemic, Vysor has managed to grow and is now focusing on expanding their product and making people healthier. Regarding the cost of weddings, the speaker expressed frustration at the high prices and joked about misrepresenting the event to potentially receive discounts. Overall, the conversation emphasized the importance of unexpected connections and perseverance in business and finance.
From Social Media Stars to Business Success Stories: Through hard work, dedication, and leveraging connections, Dylan and Hannah have built a successful business beyond their social media presence.
Dylan and Hannah's business success goes beyond their social media presence. They put in long hours and have made significant investments, particularly in their charity events and personal businesses. Their ability to secure discounts for their charity events by leveraging their connections is a testament to their hard work and dedication. Another interesting fact is Dylan's experience with streaming and his belief in the importance of learning and doing, regardless of initial feelings of inadequacy. His trading secret is that anyone can improve their skills and knowledge through dedicated effort, regardless of their educational background. Despite common misconceptions, Dylan and Hannah work hard and have achieved substantial success.
Embracing personal growth outside of traditional institutions: Dylan Barber's journey from Bachelor alum to successful trader inspires listeners to pursue their passions and embrace learning, regardless of their circumstances. Networking and seizing opportunities can lead to unexpected success.
Personal growth and success can come from various sources, not just traditional educational institutions. Dylan Barber, a Bachelor alum, shared his journey of focusing on his passions and achieving impressive outcomes. He encourages listeners to embrace their own learning and growth, regardless of their current circumstances. Additionally, the episode showcased the "triple threat" appeal, catering to Bachelor fans, new listeners, and loyal followers. Dylan's experiences and insights provided valuable tips and inspiration for various aspects of life, not just trading or finance. During the conversation, David Arwin brought up a fascinating detail about Dylan's time on Bachelor in Paradise. Before the show aired, Laurie Kay set up a dinner between Dylan and Hannah G, which was a fact that might have gone unnoticed without David's curiosity. This anecdote highlights the importance of networking and seizing opportunities, even in unexpected situations.
Taking calculated risks in business and passion projects: Investing resources and taking risks early on can increase the chances of success in business and passion projects, while waiting too long may decrease relevance and interest.
Starting a business or pursuing a passion project often requires taking a leap of faith and investing significant resources, including financial savings, to bring the idea to life. This was discussed in relation to the experience of some entrepreneurs featured on the podcast "How I Built This." While having a stable job can provide security, waiting too long to pursue a passion project may decrease the chances of success due to decreasing relevance and interest from the public. This idea was also applied to the context of reality TV shows like Bachelor in Paradise, where individuals have a higher chance of being selected if they are recently single and have gained significant attention from the show. Overall, the conversation emphasized the importance of taking calculated risks and being proactive in pursuing one's goals.
Going all in for business success: Entrepreneurs who invest all their savings in their business have a higher chance of success, especially in capital-intensive industries. However, it's not suitable for businesses that generate cash flow.
The likelihood of success for entrepreneurs who put all their savings into their business is higher compared to those who don't. This is especially true for industries that require significant investment to grow and raise money. The speaker, Dylan, emphasized this point, sharing examples of successful entrepreneurs who went all in. He also clarified that this approach isn't suitable for all types of businesses, particularly those that generate cash flow, where entrepreneurs can freelance or invest smaller amounts. The speaker, who is also an investor, invests in consumer packaged goods (CPG), focusing on opportunities with a $10,000 to $50,000 investment range.
CFA Exam and Series 7: Demonstrating Commitment and Expertise in Finance: The CFA exam and Series 7 are challenging assessments in the financial industry, with low pass rates and significant importance for careers in investment banking and securities sales.
The world of finance and investing requires extensive knowledge and dedication, as evidenced by the rigorous CFA exam and the importance of obtaining licenses like the Series 7. The CFA exam, a 3-part test focused on investing, valuation, portfolio management, and wealth planning, has a notoriously low pass rate, with only 36% of candidates passing level 1, 40% passing level 2, and 48% passing level 3. The Series 7, a FINRA general securities license, is essential for those looking to work in investment banking or securities sales. The stakes are high, as failure to pass can result in being let go from a program or job. These exams and licenses demonstrate the commitment and expertise required in the financial industry.
Important licenses for financial roles and other professional programs: Obtaining licenses like Series 7, CPA, MCAT, LSAT, and GMAT are crucial for various careers, including investment banking and financial advisory. These licenses allow individuals to sell or buy securities and access higher education programs.
Obtaining certain licenses, such as the Series 7 administered by FINRA, is essential for individuals working in investment banking or financial advisory roles. These licenses allow individuals to buy or sell various security products, including options, direct participation programs, and investment in companies and variable contracts. Other notable licenses include the CPA for accounting, MCAT for medical school, LSAT for law school, and GMAT for business graduate school. Burn rate refers to the amount of cash a business goes through before running out, and CPM stands for cost per 1000 impressions, which is the cost for making 1,000 impressions on an advertisement.
Understanding Different Stages of Startup Funding: Pre-seed funding is the initial capital before product launch, usually from personal networks. Seed funding follows with some revenue and evidence of success, raising larger amounts.
Raising capital for a startup involves different stages, each with unique sources and amounts of funding. The stages include pre-seed, seed, seed plus, and series A. Pre-seed funding occurs before product launch with minimal customers and revenue, typically from friends, family, founders, accelerators, and angels. Seed funding follows with a little revenue and evidence of the company's success, raising more money, around 250,000 to 2,000,000. The stages represent the growth of a seed into a plant, with more funding as the company grows. It's essential to understand these stages to navigate the complex world of startup financing.
