Episode 120

Adapting to Change: Why Real Estate Professionals Must Embrace Volatility with Morgan Housel

· 52:54 · Host: Suneet/Nick/Mie

Morgan Housel, partner at Collaborative Fund and best-selling author of The Psychology of Money, shares valuable insights on navigating volatility, building lasting wealth, and staying grounded in unpredictable times. He and Nick McLean discuss the real estate market's shifting landscape, with a…

Play this episode

Read the full transcript ↓

Show notes

Morgan Housel, partner at Collaborative Fund and best-selling author of The Psychology of Money, shares valuable insights on navigating volatility, building lasting wealth, and staying grounded in unpredictable times. He and Nick McLean discuss the real estate market's shifting landscape, with a focus on the importance of adaptability and mindset. Morgan talks about the emotional and financial resilience needed in business, offering expert advice on how to recognize and respond to market changes. Whether you're a real estate team leader, broker, or agent, this episode will help you rethink how you approach the fluctuating world of real estate and business.

Chapters:

  • 00:00:00 - Kicking Off with the Power of Financial Volatility
  • 00:00:33 - Welcome to the Reside Platform Podcast!
  • 00:00:37 - Introducing Morgan Housel: Author, Investor, and Money Expert
  • 00:01:17 - Dive Deep: Wealth Strategies and Real Estate Insights
  • 00:05:15 - The Realities of Navigating Volatility in Business
  • 00:07:32 - A Look Back: How Interest Rates Have Shaped the Market
  • 00:11:56 - Why Margin of Safety is Your Secret Weapon for Success
  • 00:18:34 - Thriving Amid Change: How to Adapt in Today’s Industry
  • 00:26:58 - The Fresh Advantage: Why Newcomers are Revolutionizing Financial Advisory
  • 00:27:39 - How Deregulation is Shaping the Future of Financial Advisors
  • 00:29:19 - The Future of Real Estate: What’s Next for the Industry?
  • 00:30:43 - Deregulation Lessons from the Airline Industry: Key Takeaways
  • 00:35:46 - Baby Boomers’ Impact on Real Estate Market Shifts
  • 00:37:42 - Financial Advisors’ Evolving View on Real Estate Investments
  • 00:40:11 - How Convenience is Changing the Game in Real Estate Services
  • 00:47:02 - The Power of Writing: How It Drives Business and Marketing Success
  • 00:52:06 - Wrapping Up with Powerful Insights and Final Thoughts

Links and Resources:

Thanks so much for joining us this week. Want to subscribe to the Reside Platform Podcast? Have some feedback you’d like to share? Connect with us on Spotify, Apple Podcasts and YouTube to leave us a review!

The Reside Platform Podcast is produced by Amplafy Media. Podcast production services · Client results

Full transcript

The complete conversation, in order. 8,573 words.

[00:00:00] M Y P fam, what is going on? Welcome back to this look back episode, and we're gonna take a look back at some of our best episodes, some of my favorite episodes of 2022, and it's incredible to think that this podcast is coming up on the end. We started at the very beginning of 2021, so this is coming up on our second year, and it's been an absolute incredible journey.

[00:00:21] And to think about some of the guests that have come on, some of the topics that we've covered have been things that are worth revisiting. And today's episode is gonna go into what I would think would be like the perfect interview, if we could talk about, and we could compile the Avengers the titans of podcast guests or the podcast guests of 2022.

[00:00:40] what could we do? And obviously there's gonna be a ton in here that we couldn't get into everybody. I wanted to make sure that this is something that you could fit in on your drive and that this was a normal-ish kind of episode. And so we're gonna get into about four to five different segments here, and you're gonna love all of them.

[00:00:55] So this first one here is actually from Ms. Fiona Frazier, and she is, PR podcast Princess, I think is what the name on the social media is going around. And we talk about PR on the episode with her. But one of the things that we really get into is the why behind your podcast. And at the beginning of this episode, I really wanted to go into, Give you something that talks about some of the fundamentals we're gonna talk about at the end, some of the tactics, but I wanna talk about the foundational part of creating a successful podcast, and Fiona really hits it in this first segment here.

[00:01:28] So without further ado, let's get into our first segment with Miss Fiona Frazier.

[00:01:31] Hector: even before the show is started, what are some of the things that if you have your hands on a show that you try and make sure happen if someone is just getting started?

[00:01:39] Hector: I think definitely is. The why is almost the end result of the process that I take people through. So I use something that I do workshops for around, it's a pr marketing process applied to an idea. if you say you were in a TV company, they're thinking about who they're making the program for.

[00:01:55] Hector: Because that will affect what sort of channels they're pictured into. So you are then developing this picture of your audience before you've even started because those other people you're going to want to talk to. what's kinda interesting.

[00:02:07] Hector: Fiona, When that happened, and I imagine this happens a lot, there was a lot of internal conflict with that host that host. What do you think it is? What's happening there? Because when you ask these questions, the answers that they thought, we're going to come out, or the answers that maybe seemed obvious or not always the answers that were coming out.

[00:02:23] Hector: What's happening there? Why do you think that there's some disconnect between the two? I think because people think they could treat it like social media, where it's just like a tiny part of your edited part of you that you can put a filter on or you can cut down, or static.

[00:02:41] Hector: Whereas a podcast is like the essence of you has to show up to make a connection with people who listen. So unless you are owning who you are and turning up as yourself, then I think your podcast isn't going to connect with an audience. And it's not gonna feel genuine. for me I dunno if I am aromantic probably am around podcast cuz it's still new to me and I'm probably more naive than you.

[00:03:03] Hector: But for me that's the beauty because when you work in for big corporations making shows that. People are not allowed opinions or not allowed to be themselves. And for me personally at work, this is the only time I've really been able to be myself and people be like, You're amazing and we love you for it.

[00:03:17] Hector: And, owning yourself really. And that in your podcast that's how you need to show up. And this they did a certain thing at work that was And we all do this at work. We give like this amount of ourselves and not like the core cause we hold that back for friends and family.

[00:03:31] Hector: But I think if you are gonna do a podcast and then you wanna tap into that bit because whatever you're doing it for, you are gonna be building up that no and trust factor and that's what's gonna keep you coming back and taking those call to actions that you put out on. It's really hard to fake a podcast.

[00:03:47] Hector: You can't act it. No, you can't. It's hard to perform, To perform a podcast, those people get paid to do it. they go through Yeah. Years and years of schooling to perform that, so much of what you said is just the finding the essence and being okay that essence.

[00:04:00] Hector: And what's interesting, Fiona, is since you had the kind of really an important and tough conversation with that host, Nature of the content has shifted to much more of what you recommended. and it's away from what we had thought originally had set out that this show is, here's what it's gonna be about.

[00:04:16] Hector: But as Fiona's talking about the host, we after peeling off layers and layers, found that there was this o other. that is not coming through in the show, then it's gonna be for then it's gonna seem inauthentic, right? those things changed the direction of the show, which I think, from a marketer sense may have reduce the size of what we would call like the audience, right?

[00:04:36] Hector: Or the sample audience. . But it actually makes it a little bit more. maybe I'll let you speak to that. if we're gonna say, there's this larger audience, but our show and our authenticity and our essence actually for these people, why would someone go after maybe a smaller pond or a smaller audience than going after everybody in more a kind of a more general and wider group?

[00:04:57] Hector: Because I just think you can affect change in a smaller group of people. And then that they can affect change. Because this person I know is passionate about, helping people. And it felt like the obvious thing to do when you wanna help people is just, I just wanna help everybody.

[00:05:11] Hector: And it's if you just focus on those that you can help, and then they in turn will help people they know and then that spreads and then the whole thing just becomes like more powerful. And also in marketing. Nation is a good thing because it helps you talk directly to your audience and tell them what you're doing.

[00:05:27] Hector: And you can, talk about what you're doing that helps them specifically because that will draw them in. When you're starting from scratch with no profile or following, you need to establish yourself and grow a community because if you can grow a passionate community of your podcast, then.

[00:05:41] Hector: It depends what you are trying to get out of it, but you can use that in multiple ways to create greater change. But, rough that in events or working with people, there's so many things you can do once you've got an audience, what we're all trying to do really is get a message out to people that care about it.

[00:05:55] Hector: Yeah, what you said you have a greater chance of impacting a smaller group of people. I think is the truest thing, out there for, and maybe a big realization that a lot podcasters have to make cuz they say they wanna make an impact, but then is that actually equating with what their expectations are

[00:06:11] Okay guys, I hope you guys got some value. I know you guys got some value out of that segment. And if you guys are not connected with Fiona on LinkedIn or Instagram, go and follow her. We'll try and link up all of her links in the show notes as well. Now this next episode is with Miss Rita Risha, and this was a really fun interview, both because it was really enlightening, but also because it gave me a big wake up call.

[00:06:34] It was a huge wake up call to some things that I know that I could be improving.

[00:06:38] And on this clip, Rita talks about how we can really create content that not only and on this segment, Rita really talks about how we can create content that. Attracts people. That draws people into our show, into our story, and ultimately into our business. And how do we do it in a way that people are actually excited about, that people are not pushed away by, but that they're actually drawn to.

[00:07:02] And so Rita's show is the Bippity Boppity Business Podcast. It's a really fun show that features, some Disney features, some people in the kind of Disney ecosphere and space, but not talking from me. Let's get into this clip with Miss Rita Reha.

[00:07:16] Hector: why do you think that they're waking up to it, or why is that becoming so important for people to now be able to voice their message or talk about their brand? What do you see that's happening?

[00:07:28] rita: I see companies marketing their products or their services shifting in 2022 and moving forward. It used to be a long time ago. Back in the day, you could talk about your. Products or your services from a very non-personal standpoint, you think back to those early fifties ads about, this is our soap, this is how great our soap is.

[00:07:49] rita: Buy our soap. But that's not how we talk and interact with people anymore. With the acceleration of social media and especially things developing like Web three, the metaverse, we're starting to relate more and more to individuals one on one representing. A brand, a person, like an ambassador almost in a way, and those people maybe and most likely aren't ready to become that personal brand ambassador for their business.

[00:08:14] rita: it's a transition, It's a skill that needs to be learned. I equate it to being on stage for the first time. Like they always have to suddenly be on stage. But if they didn't have a rehearsal or they don't even know what the show is about, how are they going to perform well, so that's just my understanding of it in theater.

[00:08:30] rita: But it relates really well because now we are bombarded with. Sponsored media, sponsored ads, sponsored content, and as a consumer of that content, it's easy for me to see through the authenticity or relatability of that content. I'm more likely to see an ad and click past it and just, skip over it.

[00:08:49] rita: But if I'm able to connect with one person, a leader who's. Feel, to speak to me to help solve my problems, help make me feel heard, or just entertain me in some way. I am more likely to look into that brand further and as a result connect with that person and who knows what will happen.

[00:09:07] rita: You're building a relationship and that relationship can lead to so many other things, whether it's business or new leads for other purposes. So we're looking for relationships, authenticity, and connection online and when it's anything but that we're unable to resonate with that.

[00:09:26] Hector: it's interesting you talk about authenticity and it's like a big driving point for, for lack of a better term, influencers, right? Other people are paying attention to. And what's interesting about podcasting specifically is that so many of these other ones are very surface level, right?

[00:09:40] Hector: TikTok videos are, a minute they're extending it there, Instagram before there were pictures, right? It's by default and by nature, very surface level. Whereas podcasting are growing and they're growing in this depth of content. Is that harder or easier than say, someone who's gotta be in front of a video for a minute, or someone who can, quote unquote put on a performance?

[00:10:02] Hector: I feel like a lot of podcasters they don't want to quote unquote perform. They'd rather, just talk or share a story or have a conversation. So is it different there because you're not necessarily putting, Acting per se, you're more of trying to be yourself.

[00:10:15] Hector: how does that play into this whole process?

[00:10:18] rita: I would say it's somewhere in between because you're still a D. If you're properly hosting the episode now, depending on the content and the intent behind it, if it's just for fun and entertainment, it doesn't really matter. Like you can navigate the conversation whatever way you want.

[00:10:32] rita: But specifically when it comes to business content, which is what I've been working with the most regarding the podcasting, is you still have to lead the conversation. You still have to be able To navigate the conversation in a way that creates a compelling story and a thoughtful and immersive audio experience for the individual listening.

[00:10:50] rita: Because if I just sit here and talk about what I do for a living all day, every day, and I have other people talk about what they do for a living, and that's all we talk about, maybe that was authentic. Is it compiling? Is it going to keep me wanting to listen to more episodes, tune in further? So it's more of like, how do I conduct this orchestra rather than, how do I pretend to play the piano in front of people on a video?

[00:11:16] rita: So with video, I feel like It's not easier, it's just different. With video, I can write a script. I can put my teleprompter and in a few minutes, I can just have a video like planned and prepped and ready to go. Whereas if I'm doing a podcast and I'm interviewing another individual, I have to make sure that I'm still taking the time and effort to get to know that individual and make sure.

[00:11:39] rita: Whatever story I am trying to deliver to my audience is relevant to what that guest wants to convey in the episode itself, because I can sit here and ask them questions, but is that really what the guest wants? their story to be about right. So it's twofold. How do I lead the conversation in a way that's interesting and compelling to my listener, but also how do I create that same experience for my guests and make sure their story is properly told and shared with the world?

[00:12:08] Okay. I hope you guys are settled in. This is a fun episode just for me to put together because I know that these things are gonna be impactful for you and this next. This next clip, we go to Jay Acunzo. And Jay is someone who is a absolutely brilliant mind in the podcast space, and we talk a lot on the podcast about sound.

[00:12:31] But the second part of the podcast really shifts into story and we talk about how do we create a great story, especially with an interview show. And it's a challenge that a lot of podcast hosts that I know have, especially when they're getting started. And so Jay offers some great insights and some great.

[00:12:48] On how you can create a great story with your interview. So let's get into that one.

[00:12:53] Hector: Yeah. It sound your main tool to effect that resonance that you're talking about.

[00:12:59] Jay: No. And I'm fascinated by the fact that we started this way and spent so much time on it. Cause I almost never talk about this publicly maybe it's a big piece of the show and the way people latch onto it. That's great. grateful . For me it's narration it's story. It's.

[00:13:10] Jay: And so the, like my shows are written. And a lot of the moments you're hearing me hopefully sound improv. There's some moments you're like, Jay's reading a script here, but there's some moments where I'm riffing and I'm either riffing off the script or the words themselves are being delivered like an actor would off, taking the script off the page and putting it publicly.

[00:13:26] Jay: So yeah, I think a lot of this is truly the story. It's actually the combination or interplay, I should say, between the. Not just the topics I'm exploring, but how like the hook, the Y the premise of the show, and then the story structure, like how I'm actually increasing tension or adding questions on your mind, and then resolving them.

[00:13:43] Jay: And then the undulation, the movement up and down of that tension, spiking tension relieving, simple stories revolve around one question or one moment of tension. No story means there is no tension, but complicated production has a lot of moments.

[00:13:56] Hector: I'd love to drill down into that because I found that. I do a lot of work in interview shows. And a lot of times, obviously mine is an interview show, but a lot of the production that I do is for interview shows and there hardest shows to both edit. And I would imagine listen to, are the ones that lack that story.

[00:14:11] Hector: And they lack that arc and they go all over. I've been working with our hosts to incorporate, or to at least have a sense of the story arc when they are doing interviewing. But can podcasters, who are maybe, they're doing interviews or they're using. How do they blend a story or, give this kind of arc that you talked about with a lot of times the conversation.

[00:14:31] Jay: Think of the most gripping conversations you've ever had. Think of the most gripping interviews you've ever heard, like you're so immersed in it. And I think what people don't understand is like the structure to a great interview is not intro 40 minute interview outro. That's not a plan. That's not a structure.

[00:14:43] Jay: Nor is it walking into that 40 minutes with research. That's. Plan either. What is the arc? What is the flow? You'll hear great interviewers every so often say we're going to get to that in a little bit. It's oh, they have a plan where you hear them. Say that's the next section? Oh, they have sections.

[00:14:57] Jay: You don't know what's there every storyteller, whether it's implicit and by gut feel because they've done it or they're great at it. Or they've planted out every storyteller, interviewer, et cetera. Communicator has good structure and it's on us to get better too steal that structure. I call this performing an extraction, go to your favorite thing in the world.

[00:15:14] Jay: Doesn't matter if it's there or not. If it's segmented, like it's on the screen, like a sports talk show, they say, show you the segments, or it's hidden from view. It's one end to end interview or one end to end episode or story. Try to jot down in your notebook. Here's the timestamp of that moment. Here's what they do.

[00:15:30] Jay: And let me guess it, why that advanced the story? Why did that grip me? What service did this do to the audience? And so when I needed to find a structure for unthinkable, I took a notebook. I sat down with my favorite storyteller. I've mentioned him already, Anthony Bordain. If you follow me around in different interviews, I can't stop talking about the guy because I think he does these gray areas, stories really well, and probably didn't have a recurring structure, but I needed one to guide me.

[00:15:53] Jay: So I just stole what I thought was a structure under one of my favorite episodes. And so when you have that plan, You now know in the interview, even if you're not telling kind of a narrative story, but in the interview, you're going to ask questions that raise or resolve that tension. And it could be the dramatic performance or lead up to the question, which is something that is under utilized by a lot of interviewers, or it could be the ordering of your questions because you have a

[00:16:16] Jay: purpose and you have a plan, but without that, you're completely exposed to the guests.

[00:16:22] Jay: Not performing, not showing up. And when the guest does that, when they're not telling stories, they're not gripping or when the flow of the interview is bland, that is not the subjects fault as a host and an interviewer. That is your fault. It's your show. So you have to guide the experience. So how are you guiding it?

[00:16:38] Jay: If you can't tell me that you have work to do before you head to the next.

[00:16:41] Okay guys, so once again, I hope you guys are enjoying this. I know that I am, and these clips these first three clips really talked about some of the foundational things that you wanna have in place just to create a great show. But these next couple of clips are gonna talk about how do we get more eyeballs on it?

[00:17:00] How do we get more listeners? How do we get more people to, how do we get, how do we grow our audience and get more. How do we grow our audience and get more listeners to come at? How do we get more listeners for our show? And one of the big ways that you can do that, and one of the most important ways to do that, at least right now, is to repurpose content for social media.

[00:17:22] It's unfortunately one of the things that comes along with. With podcasting is the need to promote on social media. Do you have to do it? No. But does it work? Absolutely. If done right? And so Grant talks about the right way to do that and the right way that you can actually start turning your podcast into those amazing clips and those amazing post CCL over social media.

[00:17:44] Hector: because one thing that you're talking about and that maybe, you've mentioned elsewhere is it's not necessary to get out 10 pieces of content. Like at one point we were trying to stretch out nine or 10 pieces, caption clips out of an episode because it was getting the pull on Instagram. And I think what you're bringing to my attention is the need to pull these highlights out of these clips, but then also make sure that they're somewhere that can be enjoyed. And the problem with Instagram. And we've talked a lot about that's actually our most popular episode on this podcast is how to market your podcast on Instagram.

[00:18:16] Hector: It blows away every single other episode and what's interesting is it's not even a very good episode. It's such a bad episode. When we launched and when we started, but people interested in it and. My challenge or my problem, what I'm realizing with that is that it's so ephemeral, right?

[00:18:30] Hector: So it's there and then it's gone, it's in your feed for a few hours for a day or two, and then it's gone. And what you're talking about is the need for people to be able to enjoy that podcast outside of that podcast.

[00:18:42] Grant: Yeah, what I wanted to wrap up there was that the quantity of content that you're repurposing from each episode, isn't as important as the consistency of how long you're doing it or the quality.

[00:18:54] Grant: I think that's the next thing, right? Is the quality, right? I think that one really quality repurposed clip from a podcast is better than four. Not so great. Pieces of content from a podcast, big part of it just comes out of like respect to your audience, give them something good.

[00:19:09] Grant: And I think this is something that we've had to learn throughout our time too, we've had clients actually challenge this to us, so is more, actually better. And we really had to think a lot about that. And I think what we've come to realize now is that more is not better.

[00:19:24] Grant: Consistency is better. So I think what's really important for whether you're doing blog writing or whether you're in podcasting or you're creating YouTube content. You need to find a frequency for you that is sustainable for you, so that your head doesn't blow off and you can do it and still enjoy your life.

[00:19:40] Grant: That's really important. and number two, it's quality for. Your guests, it's fun to listen to. And that's what it comes down to. How much content can you create consistently and keep it quality. So for some people that might just be one clip from each episode and for some people that might be three, four or five. Wanted to step back here real quick though. Cause I think if we wanna talk about repurposing from like the highest level What rep how repurposing is effective in like other places in our life. So if you think about the way we consume media for a long time now, like 80, a hundred years if you think about sports and you think about ESPN sports center.

[00:20:21] Grant: So obviously baseball is a sport that's wildly popular in America. But the games last three hours long and the vast majority, and there's also like 162 games, right? The vast majority of the way people are consuming that sports content is they go to sports center the next morning and they watch the highlight.

[00:20:38] Grant: It's maybe three or five minutes, and maybe there's like a sports center, top 10 thrown in there. And that's a strategy that sports has been employing for so long. The thing that like for the diehard fans of those sports teams, they're gonna watch the long form content. They're gonna watch the games.

[00:20:52] Grant: And that's where. That's where the real value is. I think that's where you get the Jersey sales and that's where you get,

[00:20:58] Hector: I don't think either the sponsorships counted, what you're bringing up to me is a brilliant point

[00:21:02] Hector: what you're making me realize is that there's no one that's better than the other, it used to be like, oh, the highlights were a secondary thought, right? They were. But what they're doing is they're actually appealing to somebody else.

[00:21:13] Hector: You're actually drawing in a different listener. You're actually drawing in somebody else by creating that you'd miss out on by just having the full game

[00:21:20] Grant: and they remind you why you love the sport so much too. I wanted to make another analogy too with the state of the union addressed.

[00:21:25] Grant: I think that was like two nights ago from this recording. That was, I think it's like an hour long show, I don't know what to call it. The state of the union. I think that's probably a good thing to listen to in its entirety. An American citizen or you're really interested American politics, but again, the vast majority of people are going to go to their news of choice the next day.

[00:21:45] Grant: And they're gonna watch the highlights and that's the way the majority of people consume so much of the long form content that's been put out for hundreds of years now.

[00:21:54] Okay. Welcome back, nyp. Okay. Welcome back NYP Fam. And. We're gonna continue to move into this marketing push, right? And we're gonna continue to move into this marketing direction and we're gonna make sure that you guys have what you need to go out there and not only create a great show, but also to go out there and promote it as well, because that's there, there are two sides of the same coin.

[00:22:17] You have to have a great show and then you've gotta get a little push behind to make sure that people find it and. Let's be honest. There is a ton of things that come along with putting together a podcast that are not actually recording a podcast, right? Things like editing and show notes and graphics and all this stuff, promotions we just talked about.

[00:22:36] And what's really cool is that there are tools that are coming out to make that easier to save you time, and to also maybe even do some of those things better than you would've done if you were trying on your own. And one of those, And one of the people who is, and one of the people crisscross start over.

[00:22:54] And one of the people who is making that happen is David sib from Memento Crisscross is David Sib from Memento fn. crisscross is David Sli from Memento Studio, and they are putting together an amazing tool for podcasters to really help them save a lot of time and also reach new listeners. But on this clip, David talks about what makes a good clip, what makes a good highlight?

[00:23:20] How do you know what actually is gonna resonate with people, and how can you do that in a way that's a little bit more time?

[00:23:26] Hector: with our production company we try and help them with the repurposing clips and we'll create the clips and do all that stuff.

[00:23:30] Hector: But a lot of times we've worked and we try to outsource it and they just don't bring back good clips. they're not good. this is not relevant. This is not the critical moment. And so is it worth talking about what makes a good moment in an episode that's important and maybe that is, or is it more important to talk. AI and how they are going about fighting these moments and why we can lean on them to at least get us started. At least give us some options to pick from where do you think is more relevant?

[00:23:58] scalable_myp-ds_david_salib-bjdnn176l_2022-aug-22-2144pm-utc-riverside: I think your first question's very interesting because what makes a good moment is a very subjective question. Even it's like food, like what makes a good meal? What makes a good pasta? And let's say a specific podcast as a hundred moments, which one of which ones of the hundred are good.

[00:24:15] scalable_myp-ds_david_salib-bjdnn176l_2022-aug-22-2144pm-utc-riverside: what I would suggest is that. Different moments of those hundred are good for different people. For some people, a really interesting point on philosophy is interesting. And for some other people, like a good joke in the middle is what's gonna get them. So at the core of it, the there's probably a good chunk of moments.

[00:24:33] scalable_myp-ds_david_salib-bjdnn176l_2022-aug-22-2144pm-utc-riverside: A lot of people would agree. These are good moments. They're interesting. But the thing that would get someone into a podcast probably different. And I think that's. You wanna post or you wanna share more than just like one or two moments of your podcast. So you can reach all the different kinds of people that are out there.

[00:24:46] scalable_myp-ds_david_salib-bjdnn176l_2022-aug-22-2144pm-utc-riverside: And that question is just a hard one to solve. it's almost like a scale question. ideally you take all hundred moments. You post them all like TikTok with YouTube and you let YouTube do the job of what it does really well or TikTok and be like, Hey, I know that this person likes this kind of stuff.

[00:25:00] scalable_myp-ds_david_salib-bjdnn176l_2022-aug-22-2144pm-utc-riverside: I know that there's this moment let's pair those two. And I think that maybe is how we get a bit closer. How do you do that discovery? and

[00:25:09] Hector: It releases some of the burden because you're now not just trying to find that one or two or even three clips, because that's that was the challenge is how do we find the three best clips? If we can create 30 in the same amount of time that it takes three well, we have 27 more chances at the basket and leveraging the algorithms to do this work.

[00:25:30] Hector: Now, obviously there are some quality, things, and so maybe you don't use all 30, but my point is that now you can really accelerate or turbocharge your own efforts, really, which I think is what we're talking about.

[00:25:40] scalable_myp-ds_david_salib-bjdnn176l_2022-aug-22-2144pm-utc-riverside: Yeah, totally.

[00:25:42] Hector: So what about the second part of it? And I think a lot of people have seen those ads where they're like, let AI write your posts. And the robot will be your social media thing. And it's I've clicked on and signed up for some of them. And then been this did not work.

[00:25:56] Hector: What I was really intrigued by though is before we got started. You showed me some stuff and some ways that the studio can write show notes for you. And it can write a summary. It can create the chapters. It can do all these these little things that take time.

[00:26:11] Hector: But what I was impressed by was like, oh, what our writers would come. That's not far off of what our writers would write. there was a few things that we laughed about. And so obviously, is it gonna be perfect all the time? I don't think that people should expect that, but how has that progressed?

[00:26:25] Hector: So let's talk about this, but what I wanna come back and talk to about is the importance of SEO. but while we're just here and while I just went on that riff, why don't you share a little bit about how you guys are writing? like to somebody who goes yeah, but it's just AI, I've tried those things.

[00:26:41] Hector: they're not gonna work. What say you to that skeptic.

[00:26:44] scalable_myp-ds_david_salib-bjdnn176l_2022-aug-22-2144pm-utc-riverside: Yeah, totally. AI is really good at specific problems. So you give an AI a specific prompt to solve. It's really good at D pattern matching. I've seen a lot of this before I can do this again. And the cool thing with podcasts is we have so many transcripts, so many titles, so many podcast descriptions, but the AI is I've seen the podcasts that get the most listens.

[00:27:09] scalable_myp-ds_david_salib-bjdnn176l_2022-aug-22-2144pm-utc-riverside: I've seen the posts that get the most views. I can take this. Specif piece of content, which is a podcast, look through it, take the content like, yeah, AI can just pull that out and it, figure out what would be most effective. So I think what makes AI more interesting when you apply it to specific problem is that specific problems have specific patterns and specific patterns are reproducible in a way that can achieve specific results.

[00:27:32] scalable_myp-ds_david_salib-bjdnn176l_2022-aug-22-2144pm-utc-riverside: And that's where you get some real power in the podcast space.

[00:27:35] Okay guys, I know this has been a lot and your mind is probably exploding right now with all of the things. You might want to turn off the episode right now because you got what already, what you need, and if that's the case, amazing. , go ahead and do that. Send me a Twitter. Send me a message on LinkedIn or send me a message on LinkedIn or tweet at me and let me know what you got away from.

[00:28:00] and let me know what you got from it. But we have two more segments here. Two more quick and very important segments. And once again, now that we've got some ideas of how we can, now that we've got an idea of what clips we might be able to grab, or how we might be able to extract some of the value from our podcast, where do we put it?

[00:28:18] And one of the biggest places that I'm excited about, at least right now, as of this recording, December, 2022, is YouTube Civic. YouTube shorts and YouTube. Just put out a document, actually, after this episode was recorded on how podcasters can really maximize their show on YouTube. And it's like an 87, I don't know, 70 page document, and I would encourage you guys to go read it, but Jonathan Jones talks about how YouTube shorts specifically has been a really powerful thing for his show and why he decided to go all in on vertical.

[00:28:52] Hector: I think a lot of people, the excuse or reasons or self-awareness whatever you wanna call it, that they're not gonna be the ones dancing on videos. And I think a lot of people have realized that it's gotten a little bit past that, but how did you fit the style to you? Can you think a way, or can you think of a time that, it was either easy or difficult to actually make it adjust to your audience or to tone or whatever that may look like.

[00:29:16] Jonathan: Yeah. First of all, Hector, that's an excellent question. And for me, man, it is really just finding those daily moments, and just adding a little extra on it because sometimes I'm silly. Like not even, and really on camera.

[00:29:29] Jonathan: I'm not even really silly, honestly. But I was in the kitchen with my wife and we were making like some sweet potato fries or something like that from one of these meal delivery services. And then it says, put the olive oil in this bowl. And then I started just shaking 'em around and I started dancing with it, not even really dancing it, but I was just shaking.

[00:29:48] Jonathan: I just gave it straight. And I told her, I said, Hey grab my phone, record this. And then I just posted it. And I said, the look you have when you're coming up with some fire podcast content, and then people engaged on it, like crazy because I think we have to get to the point to where we understand that we all have a platform and we all are a quote.

[00:30:07] Jonathan: I don't even wanna say influencer, but we all have the ability to influence other people. People wanna see us in our day to day life. People wanna see you cooking people wanna see you working out like people wanna see these moments in these things. So I would just suggest if somebody's I'm not gonna dance on TikTok or Instagram or YouTube shorts.

[00:30:27] Jonathan: I don't really do the dancing, but just find those moments that you enjoy throughout the day and those moments to where you can create relatability with people. And that's right there. I feel where you can really capitalize by being yourself. At the highest level.

[00:30:41] Hector: Yeah, that's, what's going to shine through mean I think there's so many people out there trying to imitate somebody else. And I heard that in the king Arthur legends or the Knights Templar that they all had to go into the forest, but they had to take their own. They couldn't actually take the hero's journey unless they were on their own path.

[00:31:03] Hector: And if they saw that they were on somebody else's path, they knew that they weren't going to complete it or that you weren't gonna be successful cuz it had to be on their own. And I think I found myself going into that . I'm trying too much to do what other people are doing and not caring enough about what's inside of me.

[00:31:19] Hector: And I think that you landed on that by. That's what people resonate with is when you're able to actually reveal that.

[00:31:25] Jonathan: Yeah. It's one of those things because falling in the trap as well of wanting to find where is my spot, where is my place? Where do I fit in all of social media place and even I've niched down, I'm like, where do I fit in the podcasting world?

[00:31:38] Jonathan: Cuz I'm not too big on editing and getting down the nitty gritty and I'm not too big over here over there. So it is. Just really finding what are tho what are those different things? What are those quirks about you that nobody else sees? Show us a few,

[00:31:53] Jonathan: oh my goodness. you go to sleep with socks on me too, or, oh my goodness. You take showers with slides on me too. I don't do that, but dang, it's just those little things that we can find the relatability in. And then we say, oh, wow. I can connect with that person on a deeper level.

[00:32:08] Jonathan: And I think that's really how you know that tribe and they really grow that community.

[00:32:12] Hector: Has there any been anything that you've been surprised by when it comes to let's say with regards to short form video, has there been anything that you've been surprised by or something that caught you off guard throughout the journey that people might not realize about doing some of these videos?

[00:32:27] Jonathan: The reach of YouTube shorts, because I challenged myself at the beginning of the year. I said, I'm gonna do a YouTube short video every day. It might have been overly optimistic because I've fallen off the wagon, but there have been a few YouTube short videos I've put out.

[00:32:43] Jonathan: Just after seeing what's happening in podcast news that day and I'd turn around and I'd create a YouTube short video that same day or two days later, three days later. And then I'd watch it, just shoot up, like a thousand views or 600 views or whatever in the span of a day. I think that really goes to show that when these platforms come out with news, We should at least give it a try.

[00:33:06] Jonathan: We should at least just see what's possible because by me going through and doing those shorts, then I started to realize, oh wow. If I word it this way, what's the blueprint to having a successful podcast or how to be a good podcast host, like these are things that are ranking in search.

[00:33:25] Jonathan: So then short on it, then I would say depending on the level of engagement and views that it received, then I would say maybe I should do a full episode on it. So that's something that, that surprised me in terms of reach

[00:33:37] Okay guys, I hope you guys enjoyed that one. We've got one more segment for you here and this one is from David Meltzer. And David is a all-time great. He's a mentor of mine who has taught me so much about life and business and media, and he's someone who I was. , honestly shocked that he would give me the time of day to be able to come onto my show, that he would be able to gimme the time of day to come on the show.

[00:34:02] But he did, and he delivered and he gave one of the most important and impactful segments on this, on the, and he delivered one of the most impactful messages and segments on this show. And so we finish this year's, and so we finish. And so we're finishing this year's lookback episode with this segment from David Meltzer, where he talks.

[00:34:23] the importance where he talks about the plight of being a creator and the challenges that come along with being a podcast are mentally, emotionally. And he also talks about the difference between a follower and a fan and why he's focused not on just getting follow, not why he's not just getting, and Chris Krass that and which one he's actually focused on.

[00:34:43] And so this, and so hopefully this clip leaves you with some inspir. And leaves you with some hope that what you're doing is important. And not only that, but what you're doing is possible. And so let's get into this last clip with one of my all-time favorites, Mr. David Meltzer,

[00:34:59] Hector: There's a lot of value in, we call it the I call it the value in the long tail. And to you, you might say, it's a consistent and persistent pursuit of, I believe It's your potential is how you phrase it. Can you talk about that concept and specifically for a creator who. Maybe they, it is thankless or maybe they haven't hit it as big as they want it to do, to be how how does that apply to what you talk about?

[00:35:22] David: It's so applicable from the day that I started five years ago, my anniversary is, on the Superbowl there. Why is it? And how's it so applicable is that, people have to have a long tail, a along vision. So for example, if you were going to pay me, if I told you that, will you pay me? If I can guarantee you'll be one of the biggest podcasts in the world in 20 years, most people would be turned off when I said that, even if I guaranteed it up.

[00:35:48] David: But the few that would say, yeah, that sounds great. I'd love to be one of the most popular podcasts in 20 years from now. If I charge for example, $10,000 a year, and I said, I guarantee, and I'll refund you, but I'll guarantee you that you will be one of the most popular podcasts in 20 years. If you do what I say and you pay me the 10 grand year one, and I say, okay, we're only going to focus in on two ambassadors, two people that will tell two people.

[00:36:17] David: That they have to listen to your podcast. Most people have the limited people that would take on the 20 year project. Very few would even last a year, even though I guarantee the money, most people would ask for their money back year one, when I told them, Hey, we're just going to get two people that will get two people a year.

[00:36:36] David: And when we get in year two, four people now that are getting four people a year, most people would ask for the 20 grand back. And when we get eight people getting eight people. Most people would ask for their money back. And when he get 64 people getting 64 people a year, most people would ask for their money back.

[00:36:55] David: The difference is the people that don't ask for their money back, that all they're focused in on every year from their podcast is a minimum of two ambassadors to people that will give them to people every year in 20 years from now. Right when I started, I was feeling. So when I'm 70 years old, I'll have 2 million people getting me 2 million people a year and then 4 million people getting me 4 million.

[00:37:20] David: I'll be one of the most popular now because of that strategy to tattoo my emotions from the outcome. I'm already one of the most popular podcasts in the world. And I only went after two people at a time.

[00:37:33] Hector: You've also talked about the difference between a follower and an ambassador and that they're not necessarily the same thing. Two questions here. Can you touch on the difference there? And then also, how do you see w how do you cultivate an ambassador as opposed to someone who's just a.

[00:37:50] David: Good on you for that second question, by the way, because most people are not more interested than interesting. So there, the first question is obvious, but the second one is. Like you, that's more interested than interesting. So good on you for that. Number one, the difference between an ambassador and a follower is a follower.

[00:38:07] David: Just checks a box and may or may not even list. But they certainly are not a sponsor or a power sponsor of yours, meaning that they will not go get other people to listen to you or, proactively market you and go other people to get to listen to you. An ambassador is a sponsor and, or a power sponsor.

[00:38:26] David: Someone that is engaged in what you do and we'll get other people not only will participate themselves, but we'll get other people to participate even to get other people to participate in. And then the second question, so the way that you cultivated ambassador is to ask how you can be a value or service to them in podcasting. It's understanding the difference between having people listen to you or. Taking the effort to learn what your audience is listening for.

[00:38:57] David: So most people that want followers will talk to what they think people are listening to the real good podcasters, know what the audience is. Listening.

[00:39:09] NYP Fam, thank you so much for sticking around today. I hope you guys got some value. Just if you can hear me jazzed. , the stuff that we're talking about. This, there's so much potential, there's so much possibility If you guys can just take action on even some of the stuff that are, is just in today's episode, let alone the other 80, 90 episodes that we've put out over the last couple of years.

[00:39:33] And so I want to thank you from the bottom of my heart for being part of the M y P fam. It means more than to know that you are out there alongside me on this journey. And if I ever feel like I am talking from a place. This is how you absolutely do need to do it, or if I'm ever talking from a place of I that I know all the answers.

[00:39:54] I just want you to know that I don't, and I'm figuring this stuff out right alongside you, and maybe I'm just a couple of steps ahead of you, or maybe I'm just a couple of episodes, you know ahead of you. But either way, I want to appreciate you coming along with a ride and I can't wait to hear what you create for yourself in this upcoming year.

[00:40:12] Have an amazing new. Have an amazing, happy holidays and we'll see you guys in 2023.

About Reside Platform Podcast

The Reside Platform Podcast is built for real estate team leaders and broker-owners who want to scale. Hosts Suneet, Nick, and Mie share the systems, recruiting strategies, and leadership lessons that grow teams — straight talk from operators who've done it, not just coached it.

See all 179 episodes of Reside Platform Podcast →

Book a 30-minute strategy call