Power of Social Media with Dan Fleyshman: An EOFire Classic from 2022

0:02Who's ready to rock today, Fire Nation? JLD here and welcome to Entrepreneurs on Fire, brought to you by High Level, the all-in-one sales and marketing platform. On today's classic episode, we'll be breaking down the power of social media. To drop these via bombs, I brought Dan Fleischman into EO Fire Studios. Dan is the youngest founder of a publicly traded company who now spends$60 million on social media influencers and has Angel invested in 37 companies. And today we talk about how you have to teach people. If you teach people or entertain them, you become the authority in that category. And surrounding yourself with people who are great is going to force you to become a greater version of yourself and owe so much more.

0:38And a big thank you for sponsoring today's episode goes to Dan and our sponsors. Are you ready for the ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies? Build funnels, automate follow-ups, manage clients, and even white label your own software. Say hello to our featured partner, high level and visit highlevelfire.com to start your free trial today. Fire Nation, success isn't a solo journey. It's about who you surround yourself with. That's why I built the Freedom Circle, a powerful community of entrepreneurs ready to support, inspire, and share the ideas that move you forward.

1:19Visit freedom-circle.com to learn more. Dan say what's up to fire nation and share something that you believe about becoming successful that most people disagree with you do not need a formal education I have watched entrepreneurs be built that come from the toughest neighborhoods the toughest countries on the planet and they're up against people with fancy Harvard degrees and I'll bet on the the kid that grew up in the tough situation over the guy from Harvard every single time. Have you read the book Anti-Fragile? I have not. I've heard about it. I've not read it. Have to read it. It just speaks so well to what you're talking about.

2:03I mean, it's unbelievable how when we're challenged at unbelievable levels at a young age, what that forges. It's like that iron forges iron type of attitude, which is so critical to think about. And I love how we're starting this episode, Fire Nation, which is all going to be centered around the power of social media. And a lot of people, Dan, look at influencers as untouchable divas. You figured out though, how to work with these people. Share your secrets. Yeah. So I W9, 3 ,500 influencers this year alone. I did over 110 ,000 paid posts and spent over$60 million with influencers for brands, products, and mobile apps.

2:44The way I did it was I never negotiated with terrorists meaning i never asked influencers what they want to be paid i told them how much i would pay them and what i need them to do and it worked extremely well and i've never asked once how much an influencer or celebrity wants to be paid i also when you contact them it's very important whether you contact them via email dms etc the first five words have to be exactly what you want because in the dms that's what they can read as they're scrolling through and they're getting hundreds of dms if not thousands of dms per day and so if the first five words says paid post clothing brand blah blah blah instead of hey john how are you that's much more likely for john to open up the message saying paid post clothing brand than hey john how are you and so we've done that at massive scale and for someone listening that has a clothing brand or has a vitamin product or has a new jewelry line etc the way you contact influencers is two prong first one if they have an email address or an agent contact that because that's going to guarantee that they're going to get messaged they're going to see it but contacting them via dms and then using those five words saying paid post or send you clothing or send you vitamins or send you jewelry making it really clear what you're offering you're going to have a high engagement rate of people opening it.

4:12At the same time, you can comment that you sent them that message. And in that comment, it should be really clear, like paid post via DM or sending you care package via DM. And if you say that and you comment that, they are much more inclined and much more likely to see it and then be able to go search in their DMs for your message. So if you're over 3 ,000 individuals you worked with this year, what was the worst experience? The worst experience was someone saying what they're going to do and then me having to chase them down and message them six times to do that. We don't play that. So basically, they get fired.

4:52They don't get to work with any of other brands. So it doesn't happen very often. But I've had influencers literally say, hey, here's my address. Can you send the product over? I send the product over. I check back a week later like, hey, I never got the product. We then have to send them FedEx proving that it got delivered five days prior. And they're like, oh, yeah, shoot, I do have the product. And then it takes me another three days to hear from them again. I'm like, hey, your post is late. You've got to post your content. They're like, oh, shoot, I'm not there anymore. I'm not home. I'm traveling.

5:20Can you send it here? And so I remove those type of characters so I don't have that. Out of 3 ,500 influencers, I can barely remember too many stories like that. But that's the most frustrating is when we have to play the game and chase them down like divas, like you said, because that takes six, seven, eight, nine interactions when it should only be one. What is omnipresence and why do you feel like it's so important? Omnipresence is you being everywhere to a follower or someone out there in the stratosphere. You want them to be on Twitter and see you and then they're on Facebook and they see you and they're scrolling through Instagram and you pop up and then when they're on YouTube, there you are sitting next to someone or your business, it can be you or your business in the same fashion.

6:06The reason it's important is you don't know where they live. When I mean live, I don't mean their actual home address. I mean, where do they live online? There's a lot of people that use all the platforms, but they love Twitter or they love Facebook or they only do Instagram or they love TikTok, right? And so you can't just be all in on one platform like Facebook or Instagram and then your perfect customer, investor, partner, client, employee, et cetera, they're out there on Twitter and they're out there on YouTube and they never hear about you. They don't know you exist simply because you're all in on one platform like Instagram or Facebook.

6:38So to build omnipresence, to give you a little bonus answer, just take your exact same content that you're doing on the platform that you love. So if you love Instagram, for example, take that exact same 30 to 60 second video and tweet it and post it on Facebook and post it on TikTok and post it on LinkedIn. And all of a sudden it's on five different platforms. Guess what? Instagram, TikTok, LinkedIn, Facebook, all of these platforms, Twitter, they're all free, free, free, free, and free. So there's no excuse. And it takes you an extra 15 seconds here, 40 seconds here, 35 seconds here, because you're posting the exact same video or photo with the exact same copy and paste caption.

7:17That was a good tip on leveraging content, leveraging your production that you're creating already. Let's get specific about personal brands though. You work with a lot of people who have built amazing personal brands. I mean, obviously, you wouldn't pay these individuals money if you didn't think they had a good or great personal brands. What are your personal top tips for our listeners today about them starting to build their personal brands? You have to teach people. If you teach people or you entertain them, you become the authority in that category. So if you're in the real estate space and you just show us a fancy house that you're selling well 99.99999 % of people that follow you can't afford that house or don't live in that city or never going to buy that house or they already have a house so it doesn't matter to them but what if you showed us when you first bought the house or first listed the house what if you did walkthrough videos explaining hey this home was remodeled in the kitchen they spent$14 ,000 which increased the home value by$45 ,000 they added an$8 ,000 electronic system for the security, which increased the home average over$20 ,000.

8:25Well, now that video becomes shareable because I then send it to John Lee Dumas. John Lee Dumas, all of a sudden, he might want to buy it or invest in it, or his whole group might want to buy a bunch of properties from you for years. But guess what? Dan, who was following you, was never going to buy it, right? I was never going to be your customer. However, because you taught me something or entertained me and showed me that spending 14k on the kitchen leads to$45 ,000 in new value or$8 ,000 on a security system leads to$20 ,000 in value that intriguing video now became shareable content I reposted it so now hundreds of thousand people saw it I shared it and forwarded to different people but then I shared it with John and then John decides you know what I want to invest or I want to buy property through this person and all of a sudden you got your three percent or six percent commission from John who lives in a different country from you, who is thousands of miles away from you, now became your investor.

9:19That's a great example. I'd love one more where you just really were impressed with how somebody built their personal brand by taking specific actions, by really carving out a niche or a specialty or something that really made them stand out and unique. And you're like, dang, that person built a great personal brand and they did it the right way. being consistent helps a lot because if you just do content here and there you lose what's called top of mind awareness so just being consistent just having at least one post per day is huge then making yourself the authority by jumping on to podcasts getting on to stages if you could be speaking places if you can't get on the stages throw your own event throw your own virtual event have your own little mastermind meetup making video content about you and about your category and about your space will build your personal brand it is unequivocally it's 100 trillion percent and it will make people think of you in that moment that top of mind awareness is so critical so again let's use real estate as the example if you make real estate content if you then go on real estate related podcasts if you throw a real estate meetup in your local town don't spend a bunch of money on it.

10:32Do it on a Tuesday night at a local house or a local restaurant or a local hotel ballroom. You don't have to rent anything fancy. That Tuesday night, that meetup that you'd throw and you're up on stage hosting the microphone and you're interviewing different people, that video content, that photo content, the people that are in that room that are talking about you, posting about you, et cetera, automatically edifies you and builds up your personal brand. You then go onto that podcast or go onto that stage or you go out there and put yourself out there in the media, none of those things cost money.

11:03It costs you nothing to go onto a podcast. It costs you nothing to have your own podcast. It costs you nothing to go speak on a stage. Heck, you might get paid for these things. And contacting all the different media outlets, well, that's free too. So everything I'm talking about is free, free, free all across the board. It just takes consistency. I'll throw my two cents in here because the huge mistake that I see entrepreneurs make when they're looking to build their own personal brands is they look at what Dan or myself or somebody else is doing. They're like, you know what? I'm just going to do that thing because they built a great personal brands by doing that thing.

11:36I'm going to do that thing. And so they become what I like to call a weak, pale imitation of that individual. Nobody wants a pale, weak imitation of somebody else. They want the unique, special, amazing person that is you. And now how do you actually say, well, what does that mean for me? It means you need to sit down and say, what is the one problem in this world that I can become the absolute best solution to? Because if you can become the number one top best solution in the world to a real problem, people will be the path to your doorstep for that solution. And then you can do exactly all the things Dan's saying, be omnipresent, create content every day, be consistent, do the thing, educate, entertain, do all these things.

12:22But doing all those things without having the best solution to a real problem in this world could still lead you nowhere. So you need to start with the core. And we're going to be talking about some really important things around these topics when we get back from thanking our sponsors. Okay, let's talk about a platform that's completely changing how entrepreneurs are running their business. And they are also our featured partner, HighLevel. If you're an entrepreneur, coach, agency, or course creator looking to grow faster and smarter, HighLevel is the all-in-one platform that replaces your entire tech stack.

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14:08And when I scaled my business to eight figures and mentored thousands of entrepreneurs, I saw the same thing again and again. People trying to do it alone. And that's why I created the Freedom Circle. You've heard me end every episode of Entrepreneurs on Fire by saying you are the average of the five people you spend the most time with. That's not just a quote. It's the reality of success. The Freedom Circle instantly becomes your family of five and then some. It's a community of driven entrepreneurs ready to pour ideas, connections, and support into every part of your journey. So Fire Nation, if you're ready to level up and finally create freedom on your terms, head to freedom-circle.com to learn more.

14:46That's freedom-circle.com. Dan, we're back and you are masterful with masterminds. You're masterful with live events. Why do you find masterminds and live events so useful? Surrounding yourself with people that are great is going to force you to become a greater version of yourself. And so if I'm at a mastermind, whether I'm the one hosting it or I'm attending it or speaking at it, etc., I'm in a room full of 50 to 100 people that have already proven that they're supposed to be in that room. They've already proven that they want to make themselves better. They've already proven that they can afford to be in there and they want to take actions.

15:25They want to learn. They want to network. And so it cuts out all the noise, right? So if you had a real estate mastermind or a fitness mastermind or a health and wellness mastermind or e-commerce mastermind or crypto mastermind, whatever category that matters to you, when you're in that room, you know other people like crypto or they like fitness or they like e-commerce or they like supplements, etc. You know that's their category. That's their world. And so I'm obsessed with masterminds because it filters out all the noise. I'm in a room full of people that like to take actions. And so I like to speak at masterminds, like to attend masterminds.

15:57And obviously I have two levels of masterminds. One is very, very expensive at$100 ,000 per person. And I sold that out in two months, years ago. You know how crazy it is to think about to sell out a mastermind at$100 ,000 per person? Why did people do it? Because the same thing that I just said. They wanted to be in a, it wasn't about me, it wasn't about Dan. It's the fact that they know that the other 100 members are all gonna be movers and shakers that they wanna network with and they're gonna end up becoming friends with. And hopefully five, 10 or 20 of them will be friends with them for many, many years.

16:28And so masterminds are critical. On the live event side, I throw an event called Elevator Nights for free. I'm throwing my 46th one coming up for free. So 300 to 1 ,000 guests, there's no tickets, no sponsors, no sales on stage. Why do I do that? Same concept, but different level. I want lots and lots of entrepreneurs to meet my rich friends, meet my business friends, meet my other entrepreneurs, and let them interact with each other, do deals with each other. I gain nothing from it, but emotionally, I do. Emotionally, when I hear about, oh, those two are dating now. Those two became business partners.

17:01Oh, that guy invested with that girl. All these things that happen, emotionally, it does help me. And so live events, I like to throw them, and I also like to speak and attend them because similar concept, even though they're normally not paying to be there or it might only be$200,$500,$1 ,000 for a ticket, they've also proven that they want to take action. And so I want to be in the room with people that want to take action. And Fire Nation, this is a tale as old as time. For anybody who's seen Hamilton, what's one of the core songs there? I want to be in the room where it happens. The room where it happens.

17:34And that's what happens when Dan creates a$100 ,000 per person mastermind. Those individuals that sign up know they're going to be in the room where things happen. People don't want to spend$100 ,000 and then go to a mastermind where people in that room haven't even made six figures, let alone have invested that level in that kind of a mastermind. They want to be surrounded by people who are at their level or higher because all ships rise in a high tide. And now you, Dan, have something that's called the 40-40-20 investment principle. Talk to us about that. 40 % is boring, meaning I'm going to make like 4 % to 8 % a year.

18:1640 % I call medium risk. That's going to be those things that are going to be like 10 to 25 % per year. And then the last 20 % in the 40, 40, 20 is my high risk. I call these my shot at glory. This is where I'm hoping to make 100, 200, 500, 1000 % return, but there is high risk involved in it. So I'll walk you through really quickly. The first 40, the boring stuff, the really, really low risk. These are things that are going to be mutual funds, investment funds. These are things that are only going to produce again, 4%, 8 % type numbers, which are barely going to beat inflation nowadays, but my mom wants me to do it.

18:50I need to have some boring stuff. It's just kind of capital that sits there. Basically just fighting off inflation, right? The medium risk is what most people like. This is going to be your real estate. This is going to be stock market, et cetera. Now, when I say medium risk, I don't actually mean risk like it could go to zero. So if you buy and focus on the Fortune 500 type companies, Facebook, Amazon, Google, Netflix, Walmart, etc., they cannot go to zero. Let's be clear. Can they drop 10, 20, 30 percent? Of course they can. But can Netflix or Amazon go to zero? No. So there is risk to it, but it's not risk of the whole amount of capital that you put in there.

19:27So if you invest 500 bucks or 5 ,000 or 500 ,000, the math is all the same. Same thing with real estate. You buy a house for$500 ,000, it cannot go to zero. Even if a lightning bolt hits it, you're going to get insurance money for it can it go from 500k down to 430 of course it could have a drop but most likely over the course of time real estate in good markets is going to continuously go up and so that's that medium risk most of the time those stocks those real estate you're hoping to grain 10 to 25 percent over the course of a year they can go down but it's unlikely over the course of time the last 20 percent that high risk the shot at glory this is cryptocurrency that's very volatile this is angel investing into companies where you might have your money locked up for years.

20:10If you're right, you might sell for 8x or 12x what you've invested, but it could take years to get there. You want to have at least some exposure to the high risk because if you're right, it can change your whole financial life, right? I invested in Ethereum when it was$19. Now it's nearly$3 ,000. That's 150x. That's a big, big amount of return, right? If I was wrong, I had what's called a one-to-one downside, meaning my$19 could go to$1 or$0, right? Bitcoin, when it was$400 or$500, it could theoretically go to$0. Now it's at$40 ,000. So you have what's called a one-to-one risk ratio. Let's say you go into a casino.

20:49If you have$1 ,000, you can only lose the$1 ,000 that's in front of you if you don't bring your wallet, if you don't take a marker, credit card, et cetera. If you only have$1 ,000 to your name with you, you can only lose$1 ,000. Your upside is$5 ,000,$10 ,000,$50 ,000, et cetera. That's the gambling mentality. Same thing applies when you're taking a high risk investment like cryptocurrency or angel investing. Your risk profile is that one to one. So if you put up five grand, don't lose the five grand. But you could turn that into a much larger amount, 20K, 50K, et cetera. So high risk could take years.

21:21But that's the thing that you want for your what I call shot at glory. Shot at glory, Fire Nation. I do love that whole kind of mental analogy there and that visual, right, which is, you know, hey, all you can do is go to zero. If you're not leveraging, if you're not on margin, which by the way, a lot of people do in crypto and you hear it every single day if you listen to anything in the crypto world is 80 ,000 traders were liquidated today. They literally lost everything because they had a little wick in the candle and boom, they were just completely out because they're on margin, they're leveraging.

21:53If you're just going in and doing one-to-one, all it can do is go to zero. But the upside is literally unlimited. We're talking 10, 100, in some cases, even a crazy thousand X is a possibility when you invest in the right thing. So really crazy things to think about in the world that we live in here today, Fire Nation. Dan, I think Fire Nation wants to be in the room where it happens, even if that's only from afar, because maybe they can't spend$100 ,000 yet to be in a mastermind. What do you want to share with Fire Nation about connecting with you, learning more from you, any call to action that you have, and then we'll say goodbye.

22:31All my social media is the same. It's just at Dan Fleischman. That's also important for you guys. Try to get your same exact spelling screen name on every single different platform. Even if it's not a platform you use a lot, like Twitter, Facebook, et cetera, still want to own your screen name. And then make sure that your bio photo and your bio is the same across every platform. Because if I'm looking for John Lee Dumas and he's wearing a black shirt here, then I see him over here with a different screen name and a red shirt. I might not put two and two together. And because we live in ADT society, you want to make sure it's really clean.

23:00So my screen name is the same, just at Dan Plashman across every single platform. Give us one final call to action as far as what do you want Fire Nation to walk away with today? One key takeaway, key theme, give it to us. Just get started. So many times we're all so worried and we're going to wait for this and wait for this moment and wait for this thing to happen. And once I do this, I can do this. Just get started. If you want to start a company, get your incorporation, make a basic website, get your social media handles, get your bank account open, make a business plan, make a deck. These are all things that are free to a few hundred dollars.

23:38Just get that thing set up. Even if you're not going to start it right away, just get it set up. Just get started now. Fire Nation, you're the average of the five people you spend the most time with. And you've been hanging out with DF and JLD today. So keep up the heat. Head over to eofire.com, type Dan in the search bar. The show notes page will pop up with links to everything we've talked about today. Dan, thank you for sharing your truth, your knowledge, your value with Fire Nation today. For that, we salute you and we'll catch you on the flip side. Hey, Fire Nation. Today's value bomb content was brought to you by Dan and Fire Nation's successful entrepreneurs accomplish big goals, which is why I created the Freedom Journal to guide you in accomplishing your number one goal in 100 days and we're talking step by step.

24:23So visit thefreedomjournal.com and I'll catch you there or I'll catch you on the flip side.