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Language: en
hey everybody welcome to another episode
of impact books today we are reviewing a
book that grabbed a hold of my brain and
absolutely refuse to let go it's called
disrupt You by Jay
[Music]
samit Jay is a Serial entrepreneur who's
not only proven that he's good at
disrupting himself he's good at
disrupting entire industry his career
really has been all over the map in the
best way possible he's founded his own
companies been a software publisher
worked with companies like LinkedIn and
eBay pre-ipo to help them grow and he's
held Senior Management roles at Sony and
Universal Pictures what I loved about
the breadth of experience is that it
lends what he says in the book a ton of
credence because you know he's been
there and done that and his message
really is quite simple there is a ton of
opportunity for you to capitalize on if
you can realize one simple fact things
change and they change really rapidly in
today's world where any given company
that used to stay on the S&P 500 for
roughly 33 years is now forecast to last
no more than 14 years you have to accept
the disruption is inevitable samon's
goal with this book is to help you
understand the cycles of disruption and
learn how to question your own thinking
and your business model to ensure that
you never get caught flat footed while
the concept is pretty straightforward
the specifics he details in the book are
really breathtaking the book is super
rich and usable information and I know
I'll be reading it again which I
actually don't do very often so when a
book makes my radar while I'm reading it
is something I know I'm going to read
again you know that it's good and I've
already got this one slated to add to my
mustre list of books which by the way
you can find on impact theory.com
[Music]
impactful takeaway number one
entrepreneurs don't sell products they
sell Solutions one thing samit really
brings home in the book through
countless examples is that you cannot
fall in love with your ideas you have to
be willing to Pivot and destroy your
assumptions so that you can reapply your
energies in a way that the market will
actually respond favorably to he gave a
couple of awesome examples of this and
the first was the fact that YouTube
started as a dating site I had no idea
they used videos instead of still images
which was their whole hook but the
dating site actually failed to take off
but one thing the team realized was that
people actually enjoyed creating and
uploading the videos so they pivoted
renamed the site YouTube and the rest is
history another example was how Sony
failed to capture the ebook Market Sony
was actually the first to Market with an
ebook reader which again I didn't know
that but they so self-identified with
being a hardware manufacturer that they
just could not see the need to create an
online Marketplace for ebooks to
accompany the reader and thus it failed
Amazon on the other hand despite not
being a hardware manufacturer saw the
need to marry the hardware and the ebook
Marketplace and have since cornered the
market
all right impactful takeaway number two
get others invested in your success Jay
was trying to launch a product that
turned music videos into puzzles but he
knew that without popular songs the game
would go absolutely nowhere but
unfortunately he didn't know anyone in
the music industry so with some
relationship Capital that he built up in
Microsoft he was able to get a letter to
Bill Gates asking him to make an
introduction to David geffin
understanding the opportunity for David
geffin and for Microsoft quite frankly
the game would only work on PCS and
would introduce a world of music fans to
music on the PC at a time when that
really didn't happen Gates made the
intro to geffin and geffin ultimately
agreed to take a meeting with Jay in the
meeting Jay managed to get geffin
interested in his product by offering
him wait for this 50% of the profits
just for helping him get the 10 biggest
acts in the music business into his
puzzle game Jay was going to take all
the risk pay all the money up front but
he said it was a Nob brainer to give
Gein 50% of the profits because he'd
rather have 50% % of the Pacific Ocean
than 100% of Lake Erie that is a
critical message and something that I
find the entrepreneurs fall down on all
the time is they're so concerned with
owning 100% of something or as much as
they can that instead of seeing how big
the opportunity could be with a smaller
percent and just in terms of raw dollars
equal more in their bank account they
focus more on the percentage so great
example of a time where it's better to
let go of the percentage and just think
about the overall size of the
opportunity all right impactful take
away number three there's no such thing
as running out of money entrepreneurs
and employees alike struggle to find the
budgets to get their projects and
products off the ground but what Jay
makes incredibly clear is that if you
can find a way to solve other people's
problems with your product you can get
things done with other people's money
OPM as he calls it he tells an awesome
story of a time he was trying to Market
Sony's new music service but they
themselves wouldn't give him the money
to do it so he looked in the newspaper
for company that were in trouble that
were getting bad press and tried to
think of a way that his new music
service could solve their problem two
companies jumped out at the time that
was United Airlines and McDonald's they
were both in the midst of crazy PR
problems and he thought that a cool
stunt around Sony's new music service
could actually help them out so he
teamed up with them to launch a concert
in the sky where a big artist performed
a concert on a United Airlines flight
filled with journalists and tied to that
he had the idea to do a promotion to
give away music with a purch a big Max
it ended up being a huge hit and United
and McDonald's paid for the whole thing
Sony didn't have to pay for a dime as a
bonus side note to the story and I
absolutely love this is probably one of
my favorite parts of the book the
promotion almost didn't happen but Jay
in true disruptive fashion found a way
to pull it off he didn't know it but
McDonald's requires an insurance policy
when doing giveaways like this in case
more people than expected redeem the
free coupon Sony's half of the insurance
policy would have been 3 million bucks
and Jay didn't have any money for this
let alone 3 million bucks but he had the
foresight to realize that Sony was a big
enough corporation that it can ensure
the policy itself instead of going
through an outside agency and he got
McDonald's to cut Sony uh their
insurance division a check for half the
cost of the policy so in the end even
before the project began Jay had already
made $3 million for Sony that my friends
is entrepreneurial Ingenuity at its
finest this book is actually freakishly
full of awesome quotes I was actually
pretty surprised by just how many and
it's well worth going over to impact
theory.com for more but I still force
myself to boil it down to the three that
I think are the most
critical one yourself is nothing more
than what you believe it to be you must
remove all the internal and external
definitions of self that limit your
progress in life all right you guys know
my obsession with identity and what
samon makes clear in the book is that
your identity if you are not careful
will become one of the things that holds
you back think back to the earlier
example with Sony they couldn't break
free of their identity as a hardware
manufacturer and as such they missed a
huge opportunity so always my friends be
looking for ways to disrupt your own
identity remember you sell Solutions not
products all right number two an average
idea enthusiastically embraced will go a
lot farther than a genius idea no one
gets it is not enough to have a good
idea it's just not enough you've got to
be able to get people to believe in it
and put their energies behind it so
don't allow yourself the out of viewing
yourself as a misunderstood genius
working with a horde of fools as
tempting as that might be instead you
have to understand you have to
understand your success comes down to
your ability to communicate to people in
a way that they can understand all right
number three our lives and careers are
determined by our acceptance or
rejection of our perceived limitations
to me this is a fundamental building
block of success in fact it may be the
building block that I am most obsessed
with getting people to understand only
you are holding you back and only you my
friends can set yourself
[Music]
free all right there are so many amazing
quotes and ideas in this book be sure to
go to impact theory.com for more quotes
and all the things that have lodged
themselves deep in my brain all right
number four this is always my favorite
part how do I plan to use this book in
my life on this one my friends it is
very easy I plan to use the tips and
tricks from this book to ensure that I'm
able to spot and capitalize on
disruptive movements in the world guys
technology is evolving us so rapidly if
you're not paying attention from this
perspective of watching out for
disruption Reinventing yourself
disrupting yourself you're going to get
your lunch eaten by somebody who is I
want to leave you with one last thing
and I love this quote let this sink in
only
133% 133% of the world's billionaires
were born into money the vast majority
of today's most successful individuals
change themselves in such a way as to
all right for the rest of that quote you
guys are going to have to read the book
and trust me you're going to want to
hear how he finishes that sentence all
right guys this is a weekly show so be
sure to subscribe if you haven't already
and until next time my friends be
legendary take care