Podcasts > The Money Mondays > Travis Lubinsky & James Malinchak on Building Brands and Business Strategies 📈 E57

Travis Lubinsky & James Malinchak on Building Brands and Business Strategies 📈 E57

By Dan Fleyshman

Discover the dynamics of turning public speaking into a lucrative career with "The Money Mondays" podcast, featuring speakers Travis Lubinsky, Dan Fleyshman, Mike Holston, and James Malinchak. In their discussion, the speakers unpack the nuances of building a personal brand and mastering effective business strategies. They explore foundational elements of crafting a speaking business, from identifying your market to setting strategic income goals. Malinchak, a successful "Big Money Speaker," shares his insights on leveraging social media to scale your enterprise, while Lubinsky shares a personal narrative on audience building.

Diving into the realm of investments and finance, the episode unfolds valuable advice on managing and growing wealth. While navigating fears around public speaking, listeners glean strategies for reframing their mindset, as suggested by Malinchak, to transform apprehension into an opportunity to inspire. Further enriching the discussion is the concept of integrating philanthropy within financial planning. Each speaker draws on their experience to highlight the multi-faceted approach to investments and the profound impact of incorporating charitable actions into business models, as seen in the "Wild Jungle" brand, hence illustrating the idea that success and generosity can go hand-in-hand.

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Travis Lubinsky & James Malinchak on Building Brands and Business Strategies 📈 E57

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Travis Lubinsky & James Malinchak on Building Brands and Business Strategies 📈 E57

1-Page Summary

Building Your Speaking Business

Experts like James Malinchak offer a framework for initiating and growing a speaking business which involves strategic development and understanding the financial and social aspects of public speaking. Identifying the right market, aligning your message, and determining appropriate fees are crucial in presenting oneself as an appealing speaker to event coordinators. Malinchak advises the use of mentorship to navigate the industry efficiently and avoid common pitfalls. Additionally, leveraging social media is vital for personal branding. Strategies such as Travis Lubinsky's anecdote and Mike Holston's emphasis on consistency underscore the importance of building an audience online. Malinchak himself exemplifies this through his "Big Money Speaker" brand. He advocates setting income goals and selling expertise through coaching and educational programs to work smarter, not harder, highlighting the potential to scale a speaking business effectively.

Overcoming the Fear of Public Speaking

The fear of public speaking is common, but James Malinchak suggests that it can be conquered by changing one's perspective. Viewing speaking opportunities as a chance to inspire rather than a task to be feared can alter the whole experience. Malinchak advises speakers to thoroughly understand their content which allows them to concentrate on serving their audience instead of battling their nerves. This preparation transforms the speaker's focus from self-consciousness to the message being delivered, effectively reducing anxiety and promoting a service-oriented mindset.

Investing Your Money

James Malinchak, Dan Fleyshman, and Travis Lubinsky impart wisdom on wealth management and investment strategies while highlighting the value of philanthropy in finance. Malinchak advocates for the practice of continuing to save even after debts are cleared, recommending that debt repayments be directed into investments. Fleyshman presents a calculated risk allocation strategy, advising on the distribution of investments across low, medium, and high-risk categories. Low-risk investments include mutual funds and S&P 500 analogs, medium-risk involves real estate and stocks of established companies, while high-risk covers ventures like angel investing and cryptocurrencies. Travis Lubinsky discusses the scale-up of his real estate business through Airbnb rentals and potential future growth from mergers and acquisitions.

Charitable giving is emphasized as a core part of financial strategy. Lubinsky shares how integrating charity into his business model aided growth and branding, while Malinchak speaks on sizable anonymous donations and their impacts. Both Lubinsky and Malinchak illustrate incorporating philanthropy into commerce. Their Wild Jungle brand campaign furthers this idea, with proceeds supporting animal rescue efforts. All investments and financial practices are tied to the powerful notion that generosity can yield profound satisfaction and purpose, as expressed through the Tony Robbins quote, "the secret to living is giving," which Malinchak exemplifies in his appearance on ABC's "Secret Millionaire."

1-Page Summary

Additional Materials

Clarifications

  • Setting income goals involves establishing specific financial targets to achieve through your speaking business. Selling expertise through coaching and educational programs means monetizing your knowledge and skills by offering training sessions, workshops, or courses to individuals or groups seeking to learn from your experience. This approach allows you to generate revenue beyond speaking engagements and diversify your income streams within the speaking industry. By creating valuable educational content and coaching services, you can attract clients willing to invest in your expertise, thereby increasing your overall earnings potential.
  • A risk allocation strategy involves dividing investments into low, medium, and high-risk categories based on the level of potential returns and volatility. Low-risk investments typically offer lower returns but are more stable, such as mutual funds. Medium-risk investments, like real estate and established company stocks, offer moderate returns with moderate risk. High-risk investments, such as angel investing and cryptocurrencies, have the potential for high returns but come with higher volatility and risk. Balancing investments across these categories helps manage risk and optimize returns in a diversified portfolio.
  • Investments can be tied to the idea of generosity because some individuals believe that giving back can bring a sense of fulfillment and purpose beyond financial gains. By incorporating charitable giving into financial practices, individuals like James Malinchak and Travis Lubinsky showcase how generosity can enhance personal satisfaction and contribute to a greater sense of purpose in life. This connection suggests that beyond monetary returns, the act of giving can lead to emotional rewards and a deeper sense of fulfillment for individuals engaged in wealth management and investment activities.

Counterarguments

  • While mentorship can be valuable, it's important to recognize that not all advice may be applicable to every individual's unique situation, and some mentors may not have the most current or relevant experience.
  • Social media is a powerful tool for personal branding, but it can also be time-consuming and may not yield immediate results; it's not the only way to build a brand, and some audiences may be reached more effectively through other channels.
  • Setting income goals and selling expertise through coaching and educational programs can be effective, but it also requires a significant amount of work and expertise, and the market for such services is competitive.
  • The advice to change one's perspective on public speaking to conquer fear is helpful, but it may not be sufficient for everyone, as some individuals may have deep-seated anxieties that require more comprehensive approaches, such as therapy or professional training.
  • The recommendation to continue saving and investing after debts are cleared is sound, but it may not account for individual financial situations where other priorities, such as building an emergency fund or saving for a significant life event, may take precedence.
  • Dan Fleyshman's risk allocation strategy is a common approach, but investment strategies should be tailored to individual risk tolerance, financial goals, and market conditions, which can vary widely.
  • Travis Lubinsky's success with Airbnb rentals and real estate may not be replicable for everyone, as the real estate market is subject to fluctuations and regulatory changes, and success in this area often requires significant capital and expertise.
  • While integrating charity into business models can aid growth and branding, it's also important to ensure that philanthropic efforts are genuine and not solely for the purpose of marketing, as consumers are becoming increasingly savvy and may view such efforts with skepticism if they appear disingenuous.
  • The notion that generosity can yield profound satisfaction and purpose is a positive message, but it's also important to recognize that philanthropy and charitable giving should be part of a balanced financial plan that takes into account one's own financial security and goals.

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Travis Lubinsky & James Malinchak on Building Brands and Business Strategies 📈 E57

Building Your Speaking Business

James Malinchak and other experts provide valuable insights into starting and scaling a speaking business. From understanding the financial intricacies of speaking engagements to leveraging social media for personal branding, there's a roadmap presented for aspiring and current speakers to develop their businesses strategically.

Pitching your speaking services to event organizers

Researching the market to tailor your message and fees

James Malinchak underscores the importance of understanding the speaking business beyond having a catchy message. Malinchak identifies that a common mistake is crafting a message before understanding what event coordinators with budgets seek in a speaker. In the same vein, he advises market research to identify preferred topics and expected fees. By aligning messages and fees with market expectations, speakers can position themselves attractively to potential clients.

Avoiding common pitfalls with a mentor or coach

Malinchak emphasizes the value of mentorship to drastically shorten the learning curve. He points to successful people across various fields who employ coaches to hone their skills. Having a mentor or coach who has achieved what you’re aiming for can be instrumental in navigating the speaking industry successfully.

Using social media to scale your business

Building a personal brand

Social media is instrumental in building a personal brand. Travis Lubinsky shares an anecdote to illustrate the power of personal branding, and Mike Holston emphasizes the importance of not being emotionally attached to social media metrics but instead focusing on consistency and the message. Malinchak has created a brand, "Big Money Speaker," in direct response to how his followers described his offerings, showcasing how personal branding resonates with and grows an audience.

Selling programs and coaching to work less for the same income

Malinchak cham ...

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Building Your Speaking Business

Additional Materials

Clarifications

  • Leveraging social media for personal branding involves using platforms like Facebook, Instagram, and LinkedIn to establish and promote a distinct identity online. By consistently sharing content that reflects your expertise, values, and personality, you can shape how others perceive you professionally. Engaging with your audience, showcasing your unique perspective, and building a community around your brand are key strategies in leveraging social media for personal branding. This approach can help you enhance your visibility, credibility, and influence in your industry or field.
  • Crafting a message aligned with event coordinators' expectations involves tailoring your speaking topics and fees to match what event organizers are looking for. By conducting market research to understand the preferences and budget constraints of event coordinators, speakers can position themselves more effectively. This alignment helps speakers present themselves as valuable and attractive options for potential speaking engagements. It's about customizing your message and pricing strategy to meet the specific needs and requirements of the target audience in the speaking industry.
  • Navigating the speaking industry successfully with a mentor or coach involves seeking guidance from experienced individuals who can provide insights, advice, and support tailored to your goals. A mentor or coach can help you avoid common pitfalls, refine your skills, and accelerate your learning curve in the competitive speaking business. They offer personalized feedback, strategies, and encouragement to help you develop your speaking career effectively. By leveraging the expertise and experience of a mentor or coach, you can gain a competitive edge, enhance your professional growth, and make informed decisions to advance your speaking business.
  • Re-engineering activities in the context of a speaking business involves restructuring how you operate to achieve the same or higher income with less effort. This can include developing scalable systems, such as creating coaching or training programs, to leverage your expertise beyond traditional speaking engagements. The goal is to optimize your time and resources to maximize profitability while reducing the hands-on workload. By focusing on income goals and implementing efficient strategies, speakers can streamline their business operations for greater financial success.
  • Creating scalable systems within a speaking business involves developing processes and structures that can handle growth without requiring a proportional increase in resources or effort. This can include automating certain tasks, standardizing procedures, and implementing ...

Counterarguments

  • While understanding the speaking business is important, focusing solely on market expectations could stifle creativity and originality in crafting a unique message.
  • Market research is valuable, but it may not always accurately predict the dynamic changes in audience interests or industry trends.
  • Mentors and coaches can be beneficial, but they may also impart their own biases and limitations, which could potentially hinder a speaker's growth or unique style.
  • Social media is a powerful tool, but it can also be a double-edged sword, potentially leading to issues with privacy, time management, or negative feedback.
  • Personal branding is important, but overemphasis on branding can lead to a lack of authenticity or substance in the content provided.
  • Focusing on income goals and selling coaching programs might lead to prioritizing profit over the quality of the speaking engagements or educational content.
  • Scalable systems can increase net income, but they may also result in a less personalized expe ...

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Travis Lubinsky & James Malinchak on Building Brands and Business Strategies 📈 E57

Overcoming the Fear of Public Speaking

Public speaking can be a source of anxiety for many, but with the right mindset and preparation, it can become an opportunity to inspire and serve others.

Reframing speaking as inspirational, not scary

Malinchak emphasizes that a key strategy in overcoming the fear of public speaking is to reframe the act of speaking itself. Rather than seeing it as a scary performance, it should be viewed as an opportunity to inspire, bless, and uplift the audience. This shift in perspective can fundamentally change the speaker's disposition, turning anxiety into excitement and fear into a passion for sharing a message.

Knowing your content so you can focus on serving the audience, not your nerves

Knowing your content inside and out is vital, Malinchak explains, likening your presentation to a script that, when well-rehearsed, allows you to focus on the message rather than ...

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Overcoming the Fear of Public Speaking

Additional Materials

Clarifications

...

Counterarguments

  • While reframing public speaking as an opportunity to inspire can be helpful, it may not address the root causes of an individual's fear, such as past negative experiences or deep-seated anxiety disorders.
  • Viewing speaking as a chance to bless and uplift the audience assumes that the audience is receptive, which may not always be the case, potentially leading to additional pressure on the speaker.
  • Shifting perspective from fear to excitement might not be feasible for everyone, as some individuals may require more than a change in mindset, such as behavioral therapy or professional coaching.
  • Knowing your content thoroughly is important, but over-reliance on a script can make a presentation seem rigid and reduce the speaker's ability to adapt to audience feedback or questions.
  • Focusing solely on serving the audience might lead to neglecting one's own comfort and boundaries, which are also important for a successful speaking experience.
  • The advice to con ...

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Travis Lubinsky & James Malinchak on Building Brands and Business Strategies 📈 E57

Investing Your Money

James Malinchak, Dan Fleyshman, and Travis Lubinsky offer insights into effective strategies for managing and growing wealth, with an emphasis on the integration of philanthropy into one’s financial practices.

Paying off debt

Continuing to make debt payments to yourself

James Malinchak stresses the importance of rapidly paying off debts to avoid their potential negative consequences. Following his mentor's advice, after clearing his own mortgage and car loan, Malinchak did not merely enjoy the surplus. Instead, he redirected equivalent payments into his investment account, ensuring consistency in building his savings.

Asset allocation strategies

Low, medium, and high risk categories

Examples like real estate, stocks, and angel investing

For risk allocation, Dan Fleyshman explains his structured 40-40-20 investment strategy—40% low risk, 40% medium risk, and 20% high risk. The low-risk category, with returns of 5-9% annually, includes options like mutual funds, CDs, and investments analogous to the S&P 500. For medium risks aiming at 10-30% returns, he turns to real estate, stocks of established companies, and cash-flowing businesses. High-risk ventures like angel investing and cryptocurrency, specifically Bitcoin—the top asset over the past 14 years—are deemed more precarious due to their unpredictability.

Fleyshman cautions that low-risk investments, despite their safety, produce slow growth, making wealth accumulation challenging. At the same time, medium-risk endeavors, he warns, could lead to overworking from potential losses. As for high-risk investments, he advises against jumping in fully—successes here may be erratic and not genuine indicators of investing acumen.

Travis Lubinsky enters the investment conversation via real estate, detailing how he and his business partner repurposed a historic building in San Diego to feature a restaurant with Airbnb rental spaces above. This approach has proven scalable, with aims to expand to over 100 homes through their venture, Experientials. There’s also mention of M&A potentials associated with the company, indicating growth and consolidation opportunities.

Incorporating charitable giving

Living by "the secret to living is giving"

Lubinsky recounts starting Flex Watches, a company that integrates charitable partnerships relating to diverse causes, each represented by a different colored watch, reminiscent of Livestrong bracelets and Tom Shoes’ business models. Revealing the impact of charity on business growth and branding, Lubinsky shares Flex Watches' specific aid, such as funding children's meal programs and constructing a community center in Rojo Gomez.

Similarly, Malinchak embodies the philanthropic spirit, discussing his anonymous donations, sometimes exceeding $100,000, ...

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Investing Your Money

Additional Materials

Clarifications

  • The 40-40-20 investment strategy involves dividing investments into three categories: 40% in low-risk options, 40% in medium-risk investments, and 20% in high-risk ventures. This structured approach aims to balance potential returns and risks across different types of assets. It provides a framework for diversification and managing risk tolerance in an investment portfolio. Dan Fleyshman advocates for this strategy to optimize wealth accumulation while considering the varying levels of risk associated with different investment opportunities.
  • The S&P 500 is a stock market index that tracks the performance of 500 large companies in the U.S. It is widely followed and represents a significant portion of the total market capitalization in the country. Investors can participate in the S&P 500 through index funds like ETFs, which aim to replicate the index's performance by holding the same stocks in similar proportions. ETFs such as SPY, VOO, and IVV are popular choices for investing in the S&P 500.
  • M&A potentials stand for merger and acquisition potentials, referring to the opportunities and possibilities for a company to engage in mergers or acquisitions with other businesses. This indicates the potential for a company to grow or expand its operations through strategic partnerships or acquisitions of other companies. M&A activities are common in the business world as a way for companies to achieve growth, diversification, or strategic objectives.
  • "The secret to living is giving" encapsulates the idea that true fulfillment and happiness in life come from acts of generosity and kindness towards others. It emphasizes the positive impact of giving back to ...

Counterarguments

  • While paying off debt rapidly is generally a sound financial strategy, it may not always be the best approach for everyone. Some individuals may benefit from leveraging low-interest debt to invest in higher-return opportunities.
  • The 40-40-20 investment strategy is a one-size-fits-all approach that may not suit all investors. Individual risk tolerance, financial goals, and time horizons can significantly influence the ideal asset allocation for any given person.
  • Low-risk investments may offer slow growth, but they can be a crucial part of a diversified portfolio, especially for those nearing retirement or with a low risk tolerance, providing stability and protecting capital.
  • Medium-risk ventures like real estate and stocks can indeed lead to overworking and potential losses, but they can also offer significant opportunities for wealth creation through appreciation and income generation.
  • High-risk investments like angel investing and cryptocurrency are volatile, but they can offer substantial returns for those who are well-informed and can afford to take on more risk.
  • Real estate investment strategies, such as those employed by Experientials, can be successful, but they also carry risks such as market fluctuations, regulatory changes, and management challenges.
  • Integrating philanthropy into business practic ...

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