[Music] Keys I do have a question for you what Will stop Um Dallas from suffering the same fate As nfts Um I think just hacking in legal issues I think the value of downs is completely Different than nfts because of the Ecosystem attached to it like there's Not a doubt that's going to be created Without a value proposition and a reason Um the difference between nfts of people Are jumping in without understanding it Whatsoever you kind of got to understand The dial to order to jump in it's like Choosing your club right so it's like I'm going to get this down because it Gives me access like solo club right and They have something like that in New York right now where it's like I get Access to creative space so I'm getting In this dial with the value up front the Thing about nfts the value is a road map It was a promise none of it was upfront So also with you know they start making Billions of dollars of challenging Corporations and new things of business And capitalism and democracy Now That's What regulations will start looking at Them to try to figure out is this lead Go what is this space should we create a New rule for it right well most people Don't know that Ethereum Fort first happened because of
A doubt called the doubt the the downs That dial was hacked and I think like Something around 10 to 40 million Dollars was stole and they created the Fork so that they can give people their Money back right so that was one of the First downs and so after that you know You had the legal issues that come in And the security issues come in so now You got these Downs have some of the Best legal teams and now they are making Sure that they are safer than that Because that was one of the biggest Risks because you have basically Transparency everybody can see what You're doing your code is out there Right that's dangerous typically Companies want their secrets private Right so I think that the way people are Going to use dials number one it allows You to skirt around investors having you Know Um Certified investors and all of that and All that SEC so people would like To use Dallas for that because we trying To figure out how to get the poor man Rich and how to get around these rules But SCC gonna look at that and say we Don't like y'all creating things to get Around us so naturally they'll go after Some of these Downs I think some of them Gonna be okay it just depends on the Business model of it if you got a
Business model based on philanthropy hey It's transparent whoever gives money to The dollar BLM was a doubt everything Would have been transparent nobody had a Problem the people would have voted to Say yo we want schools Right we don't want money to go over Here we don't want money to go over here An account for every single dollar spent And they would have to say so for every Single dollar lent you understand me and I think that it creates a much more Transparent world 19 Keys the greatest thought leader of The generation I think one of the Aspects that gets overlooked when it Comes to is your strategic planning Um and you can hear about it when you Talk about the Dow even in the Conversations we have is you always have A plan about something and I'm looking Now behind you with the chart paper can You take us through that process when it When you have an idea to the execution Of it with any Endeavor you have whether It's high level conversation or some of The other things you partake in what's That process like for you from idea to Execution that's a good question I first Look at first of all I'm trying to get a Vision for everything first if I don't Have a Clear Vision for it I don't feel Like I'm a move and I'm not gonna do Anything I got to be a vision of where
It's exciting the moment that I get Excited about something then I can Execute so I get excited I write down What that idea is and I start Researching what do I need in order to Get this idea and bring this to life What's going to be my hurdles what's Gonna be my challenges I try to imagine The road ahead and I imagine that as big As possible like I don't want to imagine You know uh My Success is you know I get A hundred thousand dollars what's what It will be like if I got a billion Dollars what would be like if I got 100 Million views so what would be the road Maps the challenges that will come ahead Of that and then how can I innovate in a Way where I'm not doing something like Somebody else right I never that that's Another one of my fears I've never want To do nothing like anybody else because Then I don't need to exist there's Already somebody doing it if I'm doing It how can I improve upon space and how Can I Inspire others that come in after Me so a person may look at me as Competition but then they also look at Me as inspiration that has to be both of Them built into it so let's say high Level conversations I knew I said I I I I I'm talking to a Message I said listen when we shoot this The production has to be on point we Have to shoot this like a documentary
Style we have to shoot this in a way Where it's visually appealing we're Going to be giving high level knowledge And information wanting people to sit Down for an hour two hours three hours To intake this and we have a culture That's built on entertainment not Information so we got a hard road ahead How do you get people to sit down we Have to make it entertaining right so by Making it entertaining at the same time We got to add in a fashion component you Got to be fly what is the set going to Look like what's the production going to Look like if I look at controversial Kanye West if I look at you know uh Where he did his sense though when he Came out and he said that I want to be The next Disney right people looking at Him like he was crazy but then he Started doing these wild sets his Production was over the top right and it Changed the game right so I've looked at It I say how do I create a set how do I Do production that's going to change the Game because I don't often want to Listen to Somebody's interview or Conversational content it's not that the Value isn't there the production isn't There so it's disrespectful that a Rapper gonna spend a hundred thousand Dollars on a video to get you to watch It for three minutes but you want Somebody to watch something for an hour
And you won't put no budget behind it no Production no assistance no nothing and You want people's attention that has an Attention of a fish so no so when I've Been to a new space I'm a study it who's My competition my competition is never The piercings that are cross-lateral is Always vertical it's always people at The top right so I'm looking at who is The top of this space what are they Doing because they are actually creating The barriers for competition doing Things that I can't afford doing things That I can't do so I'm looking at the Top in that space first as competition I Do all my market research then I'm doing Peer-to-peer research I'm asking Questions yo Rashad what you think about This yo Ian what you think about this yo Troy what you think about this I Remember talking to uh Gilly asking Gilly and talking to Gilly about you Know man I was working at the game he Gave me a million dollars worth again so Therefore I want to build it so if you Build any company you should build it to Think about it can you sell it because If you're thinking about can you sell it You're building it from a standpoint of I'm putting equity and assets into this So it increases the value of it so Market research Vision Um looking at top level competition Innovation and how can I change the
World I think on my fundamentals about Any idea How do we get rich in 2023 let's get Right to the spicy yeah the informative Uh by trading Um There's there's so much money in the Market right now and and people are Disrespectful and still trading right Now also I always say I remember I said Maybe five years ago in Alabama I said If the market goes down Entrepreneurs are going to want to Figure out how do I keep making that Same amount of money everybody can't Trade so Consulting people that don't know how to Make money is key but never consult Saying that this is what I would do you Have to consult to from a place of this Is what I am doing I am doing currently Yeah if anybody want to increase their Content engagement and they want to give Better advice only speak from what I am Doing right so if you can prove out Models and then teach other people those Models you will become valuable in a Time where people have to where they Feel like they have the decrease Spending right what do you want to have For your business like even inventory Strategies of key right inventory Strategy you reduce stock levels did you Raise stock levels how do you find your
Balance in a downturn economy sales are Slow inventories uh can build up you Understand me customers have less money They spend on non-essential items while Prices are increasing right so if you're Holding a large amount of excess Inventory it will cause problems going Into recession so current inventory Costs money that cannot be invested in Other areas it doesn't leave room for Flexibility and changing markets right But if you reduce Market too much then It's going to be hard for you to expand Because of your competition doesn't have That product and you swoop in and be Like well I still got inventory right Now you have the opportunity to expand And take on a new customer base so for Me it's finding that balance of what is Your plan for expansion in 2023 look at Look at when you're looking at your uh Business you got to look at What is the most important things that People spend money on right groceries Utilities education Child Care clothing Those are the top five right then you Got holidays entertainment and dining Out those are the bottom three or least Important things so if you are in an Industry that is about dining out Entertainment and holidays it people Feel like they have less money Entertainment is different content Entertainment people want escapism at a
Higher level so people are afraid of Getting rid of the Amazon people are Afraid of getting ready Netflix because They need that entertainment in their Life to take them away from the Seriousness of everything that's going On in the world that's going to increase Stress anxiety and depression so now you Are at this point of making sure that You have a business model that is based On needs and wants right like things That people actually want not what you Want to sell but what the customer want Then how are you going to expand your Business look at varying your product Lines go look at what the competition is Doing very well well right what people Really want was still selling and you Want to get into new Lanes 43 of small Business owners are the fear that Inflation is the biggest risk today Business fear evidence is not good you Start making decisions based on fear is The worst thing that you can do so you Want to build up cash reserves you want To go on the offense so if you want to Attack you want to move into new markets You want to reshape your business Proposition your value proposition Rather and you want to maintain customer Service the markets will not always be Down and they will reward you right for Going on the offensive increasing your Customer service and going on the attack
While they're down so when is down Go up ask yourself this last question What is the one skill that is giving you Roi right now What is the one skill that's giving you The best Roi and what skill can you Learn to give you a greater Roi you Understand me that is a very key thing That you need to think about when you're Looking at your employees in your Company right now you may want to fire Some people because you want to decrease Spending at least 25 that is very Important right now so if you fire People you still need those needs in That business some people you're going To realize like wow you're not actually Effective at doing anything for the Business in that sense right you may be You may feel good like him 500 I had a Conversation with him we was talking About people that good for the culture Of business and people that are Effective for the business right Sometimes people stick around because They are expected for the culture of the Business right but they're not effective At actually being producers in the Business and so you have to grade them People to make sure that you have solid People on a team eliminate unused Services downsize office space you Understand me if you need to get a Better working model invest more into
Marketing increase automation you Understand me Um don't stop spending money spend money In the right places right so that you Can expand don't ditch automation Increase automation so that you can get More for your money right Um do not take any unnecessary high cost Risk you want to do everything that is Planned out and cost efficient right and You want to make all of your decisions Based on the financials your analytics And none of them are complete this is The most important make none of your Decisions based on fear right make sure You tap into 19 keys [Music]
