How to Disrupt an Industry

back in 2008 the most common word searched on Google as well as the most common word used in book titles was the word happy happy everybody won't know how to be happy after the market tanked 38% nowadays everybody wants to use the word entrepreneur but there's another one that's being tossed around by people and it's called disruptor he's a disruptor I'm a disruptor she's a disruptor we're disruptors everybody's a disruptor let's hold ants and become disruptors everybody wants to be disruptive well listen there are 4 C letter words you need to go through to be considered a disruptor in your marketplace I'm gonna tell you about what this really means many many years ago when I got into the financial industry I didn't really know if I could do it or not I had no background the financial industry nothing so I get in and in all of us on I get my series 766 3126 life and up I start doing a business it's kind of cool October of oh 9 we decided to start our an insurance company from the moment I started an insurance company five seconds later four hundred billion dollar company sued us with a 400-page lawsuit I mean 400 page lawsuit out to get attorneys to represent seven different of us like we have to go through right and so we start the company we're about to go out of business what we're fighting we're selling we're working a hundred hundred twenty hours a week we're barely sleeping at night we made it long story show but this is what took place and insurance magazine calls me says we like to get together with you because we know you like to get your credibility because you just went through lawsuit the marketplace doesn't really see you as a company that's coming up we can really help you by getting your credibility up I said let's get together they come down to Woodland Hills we sit down at Woodland Hills Maggiano's and they present the fact that I can be on the cover of their number one insurance life insurance mags in the marketplace over a hundred fifty thousand subscribers you can be on the cover of it I said Wow coverage says no advertorial advertorial is this this rips off this is not the cover that's not the cover this is the cover this is an advertorial $425,000 I said you want me to pay you 125 they said yes I said look I'll get the bill tonight I'm not gonna pay you hundred twenty-five thousand dollars but very soon you will contact us and you'll ask us to do a cover story on your magazine oh that won't happen I said why not that just won't happen I said look at me my eyes I'm gonna tell you four words here okay I said ma'am very nice lady I said you have no idea how much conviction I have in the life insurance industry I love this business I know people think I'm crazy I love their life insurance in this dress number one you can't teach conviction you had to have it or you don't have it number two when you get into an industry you decide to compete the C letter would compete when you compete I wanted to find out if I had the goodies to compete in the marketplace I figured I could compete with a lot of people in the marketplace that was number two number three the industry gave me so much my lifestyle my freedom all this other stuff I said I wanted to contribute to the industry I want to find a way to make the industry better because without this industry this regular guy whose father worked out of 99 cents or who at a 1.8 GPA who went to the military I've never had a four-year two-year degree he would have been a regular guy right and a 40 letter word it's challenging conventional thinking which by the way if you're involved in the industry and you don't challenge everybody's way of thinking where people are dying for you to go out of business you're not really disrupted listen we had so many people wanted us to go out of business they started propagandas rumors all of this stuff because they were furious with us by the way a lot of lonely nights a lot of nights of clothes are being out of business a lot of crazy days but then one day I get a phone call a man named Paul calls me he's the CEO and the founder says I'm the co-founder of this magazine I said Paul what's the purpose of the call it says I'd like to talk about telling your story because I'm seeing what you're doing the market place your name is coming up by people who like you and your name is coming up by people who don't like you and some even hate you but I figure it's a good time for us to share your story with people what do you think I said great let's talk about it I said is this an advert or EB cuz I have no interest in spending a single penny says no no no we want to do a cover story and we want to tell your story so they came they did two articles one was called can he make insurance cool again as you see it on the screen and the other one was a cover story of what they recently did that was called Patric bit David is turning non agents into super sellers and so after this they came to the home office many of you ask me all the time Pat what do you do for a living I run a financial firm that's what I do for a living I make videos you know what time it is right now it is right in our 928 this is when we make videos believe it or not later not because we don't have time to make videos throughout the day but this interview that was done by Matt Walton will tell you exactly what I do on a daily basis enjoy the interview this is Matt Walton with leaders of Industry today we're down in Dallas Texas to meet the hugely successful author and entrepreneur Patrick BETT David the founder of the PHP agency' which stands for people helping people and value tainment this is his corporate headquarters it's going immediately the life insurance industry is in retreat today the big agencies have all but given up on new recruits as more people are leaving the business than entering it but Patrick that David is on the advance personally bringing nearly 4,000 new agents into the field and turning many into millionaires we started with Patrick and I never looked back and how much business did you do last year like millions of dollars hey we're talking about the things that were able to have in terms of removing financial arguments out of our conversation and our relationship is much more enhanced as a young boy Patrick that David immigrated to the United States from war-torn Iran served in the US Army's 101st airborne unit and soon set off on a one-man mission to save the insurance industry from self-destruction a true industry disrupter pH P's model how they serve the customer they're really approaching the industry in a unique fun and innovative way I thought this was a noble company selling a noble product life insurance and I said man it would be an honor to help you donation line at the same Absalon he's published four books and with close to a hundred million views on social media he's built the preeminent YouTube channel on entrepreneurship value tainment and he's done all of this before even turning 40 making Patrick bet David an undisputed leader of Industry it's quite a reception yeah yes he gets a lot of attention I was in Las Vegas we're having lunch at Joe's and Caesars and I see this massive Optimus Prime and I said I gotta have you know I may be agent when I'm still a kid inside I like my toys I go in the girl says it's handmade by a whole party she says Honda right here and it's nine feet tall 1,400 pounds I took eight people to put this thing up so it's a pretty grand entrance we should run I'm sure the office [Music] he's built a place where you come you eat play like football either playing along you look like you're competitive [Music] you go to the gym didn't work out today I want to get lifted in a suit this is a massive office it's all Hollywood I'm right on movies tombstone Rocky Batman and we see a lot of superheroes I also watch a movie have popcorn relax this painting is a special painting I will be so impressed if you get all night it's the most famous one of all yeah I love that guy you got to pop down got a b got JFK and einstein you got one mr. King Shah of Iran okay the Shah of Iran most people think this is buff but it's Milton Friedman okay this is sent out his story just fascinates me I love this guy's story so much where I name my daughter Senna oh wow his last name is son of my daughter's first myth sent up so he's close to the left because that's my heart this is my daughter Patrick Beth David tell me about growing up in Iran I was born October of 78 which is a peak of the revolution between the Shah and the whole thing that was going on so when my father was taking my mother to the hospital when her water broke was curfew so I held up my dad and had to escort my mom to the hospital and then I was born and then three months later the shah's out right and then it's Iran with the turmoil a war between Iran and Iraq I remember one day we got bombed 167 times in a single day and in one day Khomeini dies well how many days June 3rd 89 six weeks later we escaped how and we escaped we won and said we're going to Germany on vacation but we didn't go on vacation we went a state at a refugee camp in Germany how was the refugee camp was that like it's pretty well you know it you'd wake up in the morning you go to the corner end of it they would put the apple juice you pick up the apple juice there were people there from Yugoslavia Albania Poland it's just Afghanistan Iraq everybody was leaving to come to America so you learn about a lot of different cultures is the first time I stabbed was at the refugee camp it was just craziness then we got our green card from the states then we flew in November 28 1990 came to the States did your father put the idea of coming to America in your head was did he have eyes on I mean at what point did you think America is where I wanted so I asked my dad this question a couple years ago my dad gave the credit to my mom my parents got a divorce but my dad said your mother said we gotta leave because in Iran if you turn I think 12 years old you have to serve and so didn't want me to stay in Malawi no at 12 you can't leave so you have to stay to serve and so my parents said we gotta leave we don't want you to serve it's so funny I left there and I come to America and I serve in the US it's which my mother wasn't too happy about but it kind of worked out you had aspired to be the Iranian Arnold Schwarzenegger yes did you think that training in the army was going to help you meet that goal or so if you came unto my barracks and the army I had pictures of Arnold or had pictures of John Travolta that was that was my you know barracks and John Travolta because of sad Saturday night she stayed alive you know that hope my barracks we will play that every day and so I got out and I said you know what I can work hard I know how to train I'm gonna go be a bodybuilder his story was I'm gonna be the Middle Eastern Arnold and when did that story change direction how's that Venice Beach no shirt on cockiness you know one of these guys walking around and his girl approaches me and we kind of made eye contact she approaches me she comes up and we start talking we start dating she said I work out Morgan Stanley Dean Witter I said I know nothing about Morgan Stanley what's Morgan Stanley she said it's a financial firm all this other stuff said how can I work over there she said you need a four-year degree she wants UCLA I said I'm not doing that so I took my resume which was very impressive Bob's Big Boy Burger King haagen-dazs and you were trying be the top sales guy at those places like that is my resume no for you know to your nothing on the cover letter I took my best joke that I had and I put the joke with the resume on the bottom of the joke I said if you're laughing this is exactly how my customers are gonna feel when they do business with me if you want someone like me part of your team give me a call guy so I sent a hundred back then with facts you wouldn't you know there was no monster I faxed a hundred thirty called me out of the thirty fifteen were just impressed by the joke well say good joke the joke was father dies before he dies he tells us three sons listen every one of you I want you to drop a thousand dollars in my coffin because I want the family to know how much you love your dad and it's a way of paying back to your daddy all this son said no problem daddy so the funeral comes first son shows up it throws ten hundred dollar bills everybody starts crying oh my gosh you know it's such a special thing second son comes he throws twenty fifty dollar bills oh my gosh what a beautiful son third son comes he writes a three thousand dollar cheque takes the toss away is that I paid my debt but he got the cash yes it's on theme and I'm Xing you not get three offers I got three offers one more again and I took the Morgan and Glendale that's how I got started there was a very significant night in your life where you met conservative columnist pundit genius George Will yes so it's funny politically I've always been confused my mother said they believed in communism and my dad said they believed in imperialism because it is Shah so it's polar opposites my mother thinks rich people are greedy my dad used to believe poor people are lazy I'm absolutely confused I said don't even talk about politics a man named Bill Vogel took me one night and he introduced me to George Will and so I'm at Miramar Hotel I'm having dinner with them and I asked George will I said George you know really trying to figure myself out what do you recommend I do because I'm really good trying to get clear about what I wanted in my life he says look most people your age could care less about studying the history of what works and what doesn't work as far as economical systems why don't you go study capitalism for the next 18 months I bought every book on capitalism socialism communism Communist Manifesto Milton Friedman Karl Marx rules for radicals you know Adam Smith in the wealth of nations Atlas Shrugged I said I want to find out the math behind us why is there a group that believes in this why is there a group that believes in that and so all of a sudden I started calling of families of presidents I called the Clinton family family Carter family Reagan family I put an event together July 17th of oh nine called saving America doing the impossible I was dressed as George Washington my wife was dressed as Lady Liberty had another guy named Nick dressed as Lincoln I had Michael Reagan speak I had another guy speak on capitalism add another guys speak on star-spangled banner' I said that's what we're doing and at three months later PHP got started pH P stands for people helping people yes how did all your accumulated knowledge of capitalism and how it functions lead you to not only start that company but name it people helping people so you will never find a billionaire who became a billionaire by himself he just won't but he said that's how the whole thing came about why we should name the company PHP what strikes me about the name is it's so untraditional for a financial services company the alternative is what Patrick David financial services right if I name my name and some guys came and said why don't you name the company your name you got Morgan Stanley it's someone's name Merrill Lynch Smith Barney Dean Witter it's someone's name once you name the company or name as I'm not gonna name the company my name PHP not only are your social media numbers staggering you're the number of agents you have it blows my mind you know I'm compared to New York Life you got like half their agents in your in your one guy how did that happen what's your secret I wanted to build a company that I wanted to be a part of very simple I wanted to build a business that I would want from an outsider I would love to be part of this company so what is that I want to own a piece of the company equity because in case some happens I'm also protected perfect that was one too I wanted to create an incentive program that doesn't benefit just the people that have been on for 20 years it benefits the small business owner and so I wanted to create an environment where the newest agent coming in had the same amount of opportunity as a guy that had been on for nine years you'll hear a lot of times financial firms say to following lies our executive team has over 400 years of experience am I supposed to be impressed right when you say that to me no it's the first thing I think about that means are golfing because they're done creating new experiences so first thing I think about and by the it's not a good slogan anymore it used to be not today because the new generation is no longer the baby boomers that's the biggest you got Gen Xers you got Millennials they want to connect with somebody so for us our average agent today is a 34 year old Hispanic female today in PHP which is the United States of America versus just one audience that doesn't necessarily connect with everybody how do you connect with Millennials because you're kind of in between Gen X and millennial line 39 yes so you're right in the in the in the mitts you got to settle to me as a millennial talk to my heart stop talking to my brain move me get me emotional make me feel like it can be part of something bigger if we can communicate this language to Millennials and Gen X's holy moly the amount of potential that we can tap into it's priceless well I think you were successful in doing that with your video the life of an entrepreneur in 90 seconds the number of views it got in just 48 hours is mind-blowing bridging the career of financial adviser insurance agent into the title of entrepreneur when does that happen and what does that mean I was with Videl eyes yes two days ago at his house not a name drop you hear very well but I see but I got together with them and I'm sinner saying you know look at this guy here he's an artist he was a rap or hip-hop whatever but that's an artist entrepreneur there's not a big difference because it's creativity right I mean you look at yourself you're in the entertainment business we have so many commonalities with entrepreneurs more than anything else it was a message to tell entrepreneurs you're not alone this thing is tough but believe me the glory feels so good hang in there it's all gonna be all right that's what's so effective about it now I want to finish with what that video then became our businesses and people defined by their social media followers and their numbers and their likes now or is it just fancy packaging is it just sort of a badge so what value take we became videos and I chose one word it was entrepreneur we make life of an entrepreneur and life of an entrepreneur takes off on YouTube I put it on you too and we called it the best motivational video of 2015 24 hours against 2500 views nothing and I said I'm gonna change the title on Facebook and I change the title to a life of an entrepreneur 90 seconds and so let's just test this out two hours later it's got 265 thousand views so what is going on with this the next morning every one of our websites has shut down it's 2 million with 5 million views 30 days later 10 million views today's at 31 million views and it goes bonkers that video gave traffic to the DNA of an entrepreneur so they went there from there they went to DNA one entrepreneur and then they said this guy kind of knows what he saw my wood business antibody team and became what it is today I think today we have two brands one brand is actual business the other brand is your brand very simple you today have a brand every CEO every entrepreneur every salesperson has a brand today Richard Branson you didn't know who he was and then also my gosh this guy's going on a you know balloon and he's doing it yeah you like I like this guy so cool he jumps out of this so he built his own brand and a virgin took off there's a darker side to it you're gonna be exploited you can't have a private life within ten minutes I can find out if you're Republican or Democrat it's very easy I can find out if you're got kids if you're a sports guy who do you like I can get 50 questions answered in five minutes you can do that 20 years ago so we're all naked today so today my suggestion to everybody is here's a company people want to know who's behind the company tell us your story what do you like what are you about tell us about your mom your dad your upbringing who were you what you struggle with what's your biggest challenge in life what do you fear what do you like what do you love I want to get to know you and the more I get to know you the more I follow up with the brand here Paget vet David you're a leader of industry I appreciate that brother thanks for having thanks for having me and we got a crazy slide here I'm gonna go down that side oh man yeah it's no joke that is true leadership in the insurance industry if you're an agent or any kind of entrepreneur make sure you check out Patrick BETT David's YouTube channel value tainment until then I'm Matt Walton with leaders of Industry

Channel: Valuetainment

Views: 110,728

Rating: 4.8928571 out of 5

Keywords: Entrepreneur, Entrepreneurs, Entrepreneurship, Entrepreneur Motivation, Entrepreneur Advice, Startup Entrepreneurs, valuetainment, patrick bet david, who is patrick bet david, patrick bet david story

Id: F9W3mH2czgc

Length: 20min 40sec (1240 seconds)

Published: Tue Jul 31 2018