Episode 63: A Marketing Masterpiece, Conor McGregor, Dr. Dre

“I don’t wear mink, I am strictly chinchilla” – John

“If you want to do big boy business with somebody that is scalable higher than you, you gotta make it good for them” – Cory

“No matter what level of business you are at, all motherfuckers have problems.” – Cory

“If you want to pull off something that is going to change your wealth, you gotta have a strategy. You don’t just walk into shit like this.” – Cory

“Fatigue makes cowards of men” – John

“You wanna know how you can impact someone? Show them you care.” – John

EPISODE 63 INDEX:

  • Welcome Back: 0:30
  • Max Effort Partner Travis Browne Marries Ronda Rousey: 2:10
  • John’s Travel Problems: 9:00
  • McGregor v. Mayweather – The Genius of Conor McGregor: 11:40
  • Where The UFC Dropped The Ball: 23:30 
  • Outlandish Figures, How Confidence Can Make You Believe: 27:45
  • Everyday Lessons From The Fight – Beats Headphones and Marketing A Story: 36:05
  • Beats’ Headphones and Dr. Dre: 46:00
  • Fitness Icons Passing – Dallas McCarver and Rich Piana: 52:55
  • Closing Remarks: 1:02:45

KEY TAKEAWAYS FROM THIS EPISODE:

Conor McGregor willed the Mayweather fight into existence. Conor truly understands that the fight game is entertainment first and fighting second. If you want to make the money he is, it has less to do with wins and losses and more to do with the level of entertainment you bring to the fans. He has lost 40% of his most recent fights, yet we all view him as a champion. The reason for this is that no matter what he does he pushes the limits of his skillsets and mindset. He goes where other fighters are not willing to go. He also has that borderline insane belief that he is going to win. Even if he is a significant underdog and even if he loses, Conor never doubts himself. Like Conor, if you reach for the stars and fail you can still end up on the moon. As cliche as that may sound it is true. If you are truly pushing your limits then if you “fail” you will still achieve success on some level. When Conor first said that he wanted to fight Floyd Mayweather, Dana White said there was no chance but Conor was relentless and managed to sell Dana on the idea of how it could benefit the UFC by bringing more money through co-promoting the fight and bringing A TON of attention to the UFC. Conor played on the fact that Dana got his start in boxing and has always been a fan as well as building up Dana as a fight promoter. At his core, Dana is a promoter and Conor was offering the chance to promote the biggest fight in the history of combat sports. How could that not sound appealing? If you want to do big boy business with someone that is above you, you MUST make it worth their while. It cannot be all about you. Conor strategized this fight so he could make it good for everyone, not just him. It was set up so Floyd could make 3x what Conor would but that was no big deal to Conor. He did not let his ego get in the way because he knew that if he puffed his chest and put ego into the deal, it would never happen.

The UFC did drop the ball in one respect however. The UFC’s streaming website crashed due to low bandwidth. Essentially they could not handle the volume of people trying to watch the fight. No matter what level of business you are on, everyone has problems. So do not think for a second that because you have achieved some level of success that everything will be smooth sailing from then on out. Problems come with the territory of doing business, no matter what level you are on. When you are going into a new scenario, especially when you are venturing into something bigger than anything you have done before, you have no frame of reference. You do not know exactly what your needs will be for that moment so the best you can do is estimate. That is what the UFC did and they obviously did not estimate high enough. Despite all their success, they still missed it because did not foresee the issue with bandwidth, which honestly seems like something they should have seen coming. It is a classic issue that many growing businesses have, where the supply does not meet the demand of the customer.

Having extreme confidence in yourself can have an effect on others to where they begin to believe you to. That is exactly what happened for many people with Conor McGregor. Part of selling the fight was Conor’s belief in himself. He believed in himself so much that it convinced many people he had a real chance, despite all logic. That belief is what moved the needle for millions of people to pay the $100 and buy the fight. If you want to pull off something that is going to change your wealth, you must have a strategy. You have to be incredibly calculated.

Look at the Mayweather, McGregor fight and compare it to an upcoming boxing super-fight with the two best boxers in the world right now, Canelo Alvarez vs. Gennady Golovkin. Despite these guys being the best in the world right now, it will not do half the amount of money McGregor vs. Mayweather did. The McGregor v. Mayweather fight was a marketing event. These two guys are masters at marketing a story. Beats headphones play to this strength as well. They licensed their product from Monster headphones, put their logo on it and then marketed the hell out of it. If you understand who your customer truly is and you dial in how to really speak to them, record breaking results are attainable. The Beats advertisement with Conor McGregor told an incredible story in only a couple minutes. They knew exactly who they were dealing with and were able elicit an emotional response for the viewer. If your story can evoke an emotional response then you will win customers. The stories are where it’s all at. There are several fighters out there who could beat Conor but you will never know their names because they are fighters whereas Conor is a self-promoter. The foundation of successful marketing is to 1. Create emotion 2. Create a question and 3. Creates interest/action. 

Dr. Dre was never going to get behind any product until Jimmy Iovine called him and asked about headphones. The commitment and brand name was created in the initial  5 minute phone call. Dre went from being an “on the street” kind of guy to an “in the press box” businessman after starting Beats. The Defiant Ones on HBO will teach you how great thinkers think and how Dre became the first billionaire from rap. Dr. Dre commits fully to the decisions he is making. He told Eazy-E what his sound should be and was dead on. When he went out and put his career on the line to sign Eminem, he knew it was a massive risk but he believed in himself and in Eminem to a degree that allowed him to confidently make that call. Dre is not afraid to do his own thing. He is out there pushing excellence and it goes to show that anyone who is trying to grow a business needs to pave their own path. Do it your way. That is what makes greatness. In addition to this, upon leaving Death Row his next album flopped. He knew from here that he had to reinvent himself again if he was going to stay in the game and he did just that. In business things can be going well for a long time but if you get too comfortable in your ways you will lose in the long run. You cannot be afraid to reinvent yourself or your brand when necessary.

Everyone’s first response to the passing of Dallas McCarver and Rich Piana is that it must be steroids. Steroid use does not lead to death like this. Steroid abuse could put someone in the hospital for organ problems but will not cause one to drop-dead. The story for Dallas McCarver is that he choked on food, alone in his home. Regardless of whether this is the truth or not, when people saw his picture posted with the story everyone’s first thought is that it was steroids and not the food. That is tragic and makes it even harder for the family. With regard to Rich Piana, there were reports that he had been consuming drugs other than steroids. It is unlikely that steroids lead to death and I use the term “unlikely” because there is not any reliable research on the subject at this time. However it can lead one down the rabbit hole of drug abuse and that is incredibly dangerous. People who are at the highest level in fitness/bodybuilding need their bodies to do abnormal things and when you ask your body to do abnormal things you can get abnormal pain then the doctor prescribes a narcotic, which significantly helps the pain leading to addiction. This vicious cycle will keep happening unless something changes. WHAT CAN YOU DO TO HELP THIS PROBLEM?? If you know someone who is abusing drugs, you know the right thing to do. It is not being nosey. It is demonstrating that you care. GET INVOLVED. Pull your friend aside and express your concerns before something truly terrible happens. We can never control someone else, but we can control our actions and how we handle these issues. We all can impact change, one person at a time if we do something different. Asking a question and letting them know you care could literally save a life. It is worth the risk of possibly appearing nosey or having an uncomfortable conversation.

We all have so much more power than we give ourselves credit for. Every time someone dies from a drug overdose, it is a societal failure not the individual’s problem.

THE PODCAST CANNOT BE STOPPED!!

Recommendations From This Episode:

  • Think and Grow Rich By Napoleon Hill
  • Beats Commercial With Conor McGregor
  • The Defiant Ones on HBO

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