Episode – 21

Branding Expert and Entrepreneur Shares His Million Dollar Secrets

Description

Brian J. Esposito is Founder & President of Esposito Intellectual Enterprises LLC., a 20-year-old holding company with operations in media, liquor, music, apparel, sea exploration, aviation, space, cryptocurrency, hemp, oil & gas, mining, tv & film, and technology. Brian is a branding expert, investor, and serial entrepreneur. He believes that “Time Is Our Most Precious Commodity” and has certainly lived up to that mantra over the years with a host of accomplishments before age 40.

In this interview, Brian shares a wealth of information that he has learned over many years of putting together deals. He talks about one of the biggest mistakes he made early on and why he still regrets it to this day. He explains how companies can grow without giving up equity. He talks about his #1 deal breaker. He talks about unrealistic company valuations and the proper way to value a company. He talks about how he deals with setbacks .. and much more.


What You Will Learn
- Brian’s biggest business mistake and why he still regrets it.
- How to grow a company without giving up equity
- The proper way to value a company
- Brian’s deal breakers
- How to build your business network properly
- and much more


Connect with Brian:
LinkedIn

Full Transcript

JP Maroney:

Greetings and welcome to another episode of the deal flow show. I'm JP Maroney, your host, along with my cohost, mr. Paul Nicoline here at Harbor city capital. We've got a good guest, very exciting guest. And, um, I've heard a lot of background. We know you're connected with one of our previous guests, uh, mr. Brian Esposito from Esposito intellectual enterprises. Appreciate you coming on the show and you're coming in. Um, I'm told Paul is jealous cause you're coming in from Jersey shore. Is that

Brian Esposito:

Presently in the Jersey shore? Yes, sir. All right.

JP Maroney: 

Nice. Um, so I wanted to get in and talk a little bit about your background first, and then we'll talk about the deal process and some of the ways that you approach things, how you deal with success, failure, setbacks, uh, you know, the whole gamut of this. A lot of the content that we're producing from this show is going to end up at a book that we'll talk about the deal flow and deal making process. So we're excited to kind of tap into the wealth of knowledge that you've built over the years in business, but maybe you could give us a little bit of background. You started your company 20 years ago. Um, how did you get started? What, what, what was the impetus for that and maybe bring us through that journey.

Brian Esposito:

Absolutely. And thank you gentlemen, again for your time. It's a real pleasure and honor to be speaking with you and be on your show. Uh, what started again just over 20 years now? Um, my first company was in the beauty industry, so it was good timing. I learned how to work with brands, obviously develop distribution networks and the idea of bringing people to me was something I started creating early on. So got lucky. I built the first B to B, B to C eCommerce platform in the beauty industry in the late nineties. Uh, again, we were disrupting an industry we're creating a new medium for eCommerce or actually a new medium for commerce in general. So through that challenge, there was so, uh, so many obstacles when you're breaking into what is the new norm and educating, uh, legacy, uh, manufacturers that had their traditional distribution models, which were direct to a salon direct to a spa direct to a store.

Now we opened up the web and we were selling products all over the world. Uh, and through that journey, I got to meet and work with some of the most incredible people, whether they were athletes, actresses, actors, musicians, entertainers, and we were building so much value for them because our reach was so big. We, we were servicing millions of customers around the world and it was fun and exciting. And then it turned into really not, not enjoyable because I just looked at it like an ant farm. I had a ceiling with moving products around and there's only so much that I could do what we're creating wealth for these entertainers, these management companies, these musicians, actors, and actresses. And I said, well, there's something wrong with my model. Yeah, I can keep doing what I'm doing, but if I don't continuously find the next big product or the next big actor, then you know, the growth stalls, I start to reverse.

I start to go backwards. So in my mind I started thinking, well, what if I own the ban or why launch the ban? And then we created products for them. And then we created a merchandising brand for them. And if we just kept doing things, making the pie bigger for everybody, we can protect the entire ecosystem. So if one division slow, well that's okay because our band's outperforming and that would raise awareness and keep things moving. So it really took me 15 years, maybe 16 years to perfect the model where we want to create value for ourselves. We want to create value for all of the products, services, technologies, um, anything that we're attached to and keep making sure that our tide keeps rising across everything that we're involved with and then invite people into our ecosystem rather than me being invited into there is to create value for them. Uh, so it started in the beauty industry and because that industry is involved in so many different industries that allowed me to meet all of the leaders and entrepreneur entrepreneurs and founders of great companies in those industries and, and together, we created something pretty special

Paul Nicolini:

With all that you started and all those businesses was that, did you go to the capital markets for that? Or was that self-funding or friends and family how'd you get started that way?

Brian Esposito:

All self-funded. Um, again, knowing, um, the beauty industry, it's a family industry. So my dad started the first, uh, distribution for salons and spas that comes to stores in the late sixties and seventies. So I understood that business model so well, and I knew the margins so well. So it's all the same stuff in a product, whether there's a brand that's a high end brand or a low end brand, unfortunately they're really all filled with almost the same exact items and same formulas. So because of what I was understanding, the margins, I was able to create by byproducts at the lowest possible price, sell it at the correct highest possible price with no discounting in the middle. So the cash flows were so strong. I use that to go out and launch a band. I used that to create an apparel line. I used that to go out and build our own technologies opposed to us licensing other technologies.

Again, the model that I wanted to create was not make other people or other companies wealthy without our involvement. So if I could create what I wanted to go out and buy or license or bring in, then I'm going to create it. And I'm going to increase the value of what we're doing, as opposed to helping somebody else become more wealthy and more rich with all of us being part of the upside. But in doing that, I've made every mistake you can possibly think of. I spent money that I should never have spent money on. Um, and when you go into new industries, such as the music industry of the TV and film industry, then the technology industry, um, even real estate hotel development, got my ass kicked along the way because I had no idea what I was doing, but I knew what I wanted to accomplish. And I didn't mind, I didn't mind learning everything I needed to learn and know that industry inside and out

JP Maroney:

In the process. I mean, even from the very beginning, this was all about putting deals together. It was a deal-making process. What were some of the early lessons that you learned? I like to call them lessons maybe through those mistakes, but what were some of the early lessons that you learned as you pioneered some of this process and business model?

Brian Esposito:

One of the things I always have regrets on how I do deals now and how I always create win-win opportunities. What I did so wrong for so many years is when we launched a brand and we brought it into our world and we, we made it become a brand that was in [inaudible] or a target. It was because of our reach and our awareness. I should have always been part of that brand. I should have had an equity ownership in that brand because it was our distribution. It was our model that made them become who they were. Now. It's not necessarily that they weren't going to become that. I don't want to take that away from anybody, but we were a big part of elevating and enhancing their journey. We're a big part of putting them on that trajectory, trajectory quicker. And, uh, one of the biggest mistakes I made and over a thousand times, because we launched a lot of brands, was not being an equity holder in that brand because of what we were able to do for that brand. So that's something that bothers me daily to this day.

JP Maroney:

I feel your pain. I, you know, I've been building companies for 30 years and during that time and process, I had an opportunity to mentor and consult and advise other companies. And early on, I was very shortsighted. Um, I would look at just the cashflow side and I would say, okay, well, if I'm not getting a big fee, I won't take this deal. Or maybe I am getting a big fee. And so that's good enough. And so you find yourself in that more advisory or maybe an organizational role, the way that y'all were doing it is you find yourself in the first 90 days, you're such a genius. Cause they never thought of this before, after that, it starts to wane and it's like, eventually they go, where did all these ideas come from anyway? And if you don't have that equity piece in there, it's, you don't have that longterm benefit from it. But I love the idea too, of the collaboration where you can have a piece of something and have a vested interest of why you keep running the race too. So it's not just to your benefit, but it's to their benefit to keep you engaged in that way. So the, you you've come a long way. Obviously 20 years of here now you've, um, accepted, uh, another role, right where the company that's associated with a publicly held company. Can you talk a little bit about that, how that deal was put together?

Brian Esposito:

Oh, there's 61 holdings in my holding company right now. There's three acquisitions underway and over 150 joint ventures. So what I'm able to do at this moment with this, uh, arrangement is have a liquidity event for all of those companies. Everybody that's been involved in those companies and add value to the overall general partnership. So this'll be a publicly traded general partnership and it's going to be completely yield driven, which I love. So I, and, and now more than ever investors, capital people in the market, people taking money out in the market, it's going to be very important that they're involved in companies that generate revenue, uh, profitable revenue. So a lot of the things I do with a lot of the companies that I'm brought on to work with is they come to me and ask me for help in raising capital. And, and I always say, yeah, that's great.

But then what they're like, what do you mean when you need a million dollars? For example? Okay. So what happens when you spend the million dollars? Well, then we're going to go out and have our next raise. To me, that model doesn't make any sense because you're diluting everybody down, including the founders of the cofounders or senior management. At some point, you're gonna dilute yourself out of your own company and why are you not focused on trying to make money? So that's what I love about doing what, what I build is we have companies across 18 industries now. So when companies invite me in, and this is a long way of explaining the, the general partnership, um, involvement, when we look very simple, you do a glorified matchmaking. It's OK, you're you guys are doing this and this industry while I'm holding X, Y, and Z, that a, we can make you more valuable.

Maybe your evaluation going out to market is 10 million maybe now, because we put together some real, tangible, uh, partnerships and, uh, pay pilot programs, new customers, your evaluation, maybe it's 20 million, maybe it's 15 million, maybe it's a hundred million. So now if you do need to raise capital, the equity going out for that capital is much less. And more importantly, we need to create a way for you to make money and have, have revenues come in. And if you want to grow your company, grow your company with your own capital, with your own incoming cash, or even better, because money is so cheap right now. If you are making money and revenues are coming in, it's the first time I ever am. Okay with taking on debt because the money is almost money's free. So if you, if you know, you have revenues coming in and you have partnership with real companies that can continue to support your growth, uh, it's the best time ever to, to go out and borrow money.

Uh, so with that being said, part of my process with these, with these companies is it's not fair for the equity holders that put their taxed income into your company to sit around and wait for a, for a liquidity event. It's not fair. I don't like that model. These people should be getting rewarded, some sort of dividend, some sort of monthly, quarterly biannually, or annually payment for their money. Why do they need to wait five, 10, 15, 20 years for the money that they put into your business? So if you start to train people to make money and be able to put out distributions, it forces them to be more careful with how they spend their money, what deals they want to put in place, what partners they want to bring on, what law firms they want to pay, what accountants do they want to pay?

If, if they're forced to put out money to their equity holders, much like we do with the structure of the general partnership, where we want to put out a 7% coupon to all of our LP holders in order to do that, every deal we make has to at least spin off 7% return. Otherwise the people are, are, are a net asset value is going to be destroyed people. Aren't going to invest into the LP. And, uh, and, and we're going to have to make announcements of reducing the dividends. So it's so important to go into every deal, every structure with some sort of profitable income, where you're forced to pay out distributions to, to people that believe in you and your company.

JP Maroney:

Wait a minute. So let me clarify. You mean, you actually expect the businesses that you're involved in to make money.

Brian Esposito:

I do now old me. He was like, Oh, let's keep we'll, we'll figure it out. I'll keep getting customers, keep getting new revenues. Now. Now more than ever, companies need to make money. I'm I hate seeing these unicorn deals. I, it, I think it's appalling the money that goes into valuations for companies that don't even have real positive earnings. Uh, and I think you guys experienced that multiple times, I've experienced it multiple times. There will be a day reckoning once again, where there's going to be real valuations based on real earnings. And that's the value of the company.

JP Maroney:

Paulie and I were looking at an insurance play here recently, and one of the comps in the market that had just gone public, um, how much money have they lost the year before it was insane. And they were getting this massive valuation in the market. And I it's, it's, it's all fluff and it's crazy, but yeah, or I want to talk to you or Paul has got a question I know about your deal making process, but before we do, if you're watching or listening to this episode of the deal flow show, you can get access to our archives, all of our previous episodes, as well as subscribe and follow us by going to the deal flow show.com the deal flow show.com.

Paul Nicolini:

Brian, it sounds like before this, this was all privately held or, or your companies that you've had. And would this be then the first, uh, you know, the first time that you're in a publicly held company. And then with that, you talked about yield. You talk about an exit strategy. What else attracted you to this? Going from a private to a public,

Brian Esposito:

The accounting firm. I use Mark home. I don't know if you're familiar with them, but they're a top tier STC account accounting firm. Uh, I think they're the top sec auditing firms. So as my journey grew and I got to really put a support system, me with, uh, professionals that I've trusted professionals that I believed in, I started to think more about, well, what, what does my reality now look like? What can I do that I couldn't do before now with this support system and learning more about the public markets, learning more about, you know, with everything that's going on in the world. Uh, the stock market has not yet failed to do what it's made to do. It's you can move, uh, equities around. You can raise investments. It's that machine is a machine that's going to continue to work and everything that I've built, I'm confident in it that partnering with the right entity, with the right mindset and, and a very, very tight inner circle at the GP level where we're not motivated by a personal greed.

We're not voted by Mo motivated by ego it's. It's hardworking people that came from families that built everything they have from nothing now, uh, historically third and fourth generations destroy all that. But right now, the people that I get to work with understanding, I had to go out and work. You gotta go out and work hard, and then you gotta go out and create value and, and get scrappy with this pandemic that, that, uh, the world's gone through. It's terrible to see what's happening to people and families and businesses around the world, but because we're involved in so much and because there's no real crazy hierarchy of decision making, we pivoted and we created some exceptional value. We created deals that the market now, uh, demanded and that the world needed. And with our technology holdings and our distribution partners and people that understand that they need to move and move fast in order to survive.

And, and, and, you know, when times like this happen, I often say to people, I'm the kind of person that works so much better with a thousand things going on because my mind can connect them and understand what works with white people that have one thing and they do it well. That's great. And, and I admire that, but if you do, if you only involved in one thing and you're going through, what's going on right now in the world, you don't have many options to go out and be creative with. You don't have many opportunities to go out and figure out, well, what can I start to play with to make value, create an opportunity to launch a new technology, wants a new product or a new service. And, um, and thankful, thankfully, because of this crazy ride I've been on and, and the nonsense I've been through this chapter has been great. It's been, it's been exciting to be able to create these things and, and make sure that we continue to grow.

Paul Nicolini:

You know, we asked this over and over and our audience loves this, and we just want to tap into your brain here for a second. So with all these deals that you've got going, and certainly this one, this big one that you've got on your plate right now, give us some advice and some, uh, just let us know, how do you prepare for this stuff

Brian Esposito:

In my mind? It's so easy. I go in since very young, even since 80, and I've went into every room with, Hey, listen, I have this, you have that. How, how do we make it more valuable together? So I've never gone into a room with my handout. I've never gone into a room, really asking for something without me giving something of equal value or greater in return. So as long as I'm dealing and speaking with people that understand, it makes sense to work together. Uh, and now that there's so much that we're involved with, I don't, I don't really have to go into a room and prove myself anymore. Um, and, and the, the age difference is starting to level off I'm 39 now, but I've always been the youngest person in the room. So there was a lot of hurdles I had to jump through just to get the respect from somebody that whether I knew more than they did was irrelevant, because I could never tell them that, how do you walk out of a room, putting a deal together if you insult somebody?

But, uh, it's been, it's been difficult. My age has been a very difficult hurdle to get over because that's what it is. And I think I'm an old soul. I, I see things that I understand that I, um, and I, and I have a, a quick reaction to knowing an answer to something that I have no reason to even know the answer to. And because of that, and, and, and trying to articulate that correctly with someone that's in their fifties, sixties or seventies, that's been very difficult, uh, because you know, a lot of people, for some reason, maybe feel intimidated by me, or they think I'm out to, to do, to do something wrong, or I don't have the experience or the history to, uh, to, to, to be involved in what I want to do. Um, so, you know, the, the preparation has gotten a lot easier because I know what the outcome I want.

Now it's about properly articulating it, showing how we accomplished this. And more importantly, anybody can go into a room and talk that's easy. Uh, the hard part is actually backing up what you just said you were going to do. So while I like to leave that meeting, or that idea of putting a partnership together with getting something in motion right then and there at the table, or, or recently through a zoom call. So if I say, Hey, listen, this is what we're going to do. Let's get in motion. I don't leave the room without an email going out, connecting everybody a text, going out, putting everybody in a WhatsApp group. I therefore, it's in motion. It's no longer talk. If I say, Hey, I want to do this with your company. I want to connect you to that person over there at that company it's done right then and there. And it's, then it's actually in motion. There's no more hoping that something happens. It's, it's actually in motion.

JP Maroney:

Can you talk about age? Age is all about time, right time. We've got under our belt time. We have left. Um, you've been known as talking about time is our most precious commodity. Talk about that.

Brian Esposito:

Not to get religious on you, but I was in a very bad car accident a few years ago. And, um, shouldn't, I feel like I shouldn't be here the way that accident happened. Um, really emphasize that I'm here for a purpose and it's not about making money. That's a byproduct. I definitely been set out to do something and I don't. I feel like I'm doing it now. This is the most I've ever felt rewarded in what I'm doing. And that's helping companies grow. I love that. I've been through so much garbage because I can help navigate somebody, not going through that garbage. However, there's a caveat to that because it is important to experience things. It is important for CEOs and founders to get knocked around a little bit and understand the industry that they're in and understand the way people are and look out for certain personalities, look out for certain characteristics.

That's a very important life lesson that I don't want to take from people, but I love being a solution for companies. I love giving them a way out and a way to grow. Um, and that ties into listen. Every second, you spend now more than ever needs to be in a positive, productive fashion. If somebody they're wasting your time being negative, trying to hurt you to try to use you. The more you experience people, the more that you pick up on those characteristics, the quicker you can fire them from your life and continue to move forward with the right support system with the right network of people. And one of my faults is I love being around people. I love working with people. I've put myself in terrible situations because of that. I've invited the wrong people into my inner circles because of that. And, um, and it's hard for me to, to push somebody away because naturally I like to work with people naturally. I like to build value and create opportunities with people, but it's unfortunate that you cannot do that with everyone. And you can not let someone come in and infiltrate or harm all of the work that you've done all of the time that you spent building, whatever it is that you or your listeners are building

Paul Nicolini:

On our first initial call that you, you had told us that you had been burned in the past by friends and others on deals. So tell us, how do you deal with those setbacks and how do you move forward from those?

Brian Esposito:

I had to rewire myself not to wake up in the morning and be bitter not to wake up in the morning and focus on what I no longer have control over that situation happened with that person. Um, it's not easy. You know, nobody likes to be hurt. Nobody likes to feel taken advantage of, but at the end of the day, that decision or that action, that that person or persons decide of the duty you, that is on them, that is their cross. The bear. What is on you is that you allowed it to happen once you come to terms with, okay, what did I do to put in that position? What can I do to no longer be in that position? Again, those are lessons you need to start teaching yourself. That's what allows you to continue to go forward and not be in those positions again.

Um, and another life lesson, I think it's taken me a decade to understand is, and you gentlemen may or may experience this some times I even get caught in it. You cannot give somebody else your thought process. It's not reality. You cannot drive yourself crazy. Wondering why that person did that. Why I wouldn't do that? Why? Well, you know what, they weren't raised like you, they weren't brought up in your household. They didn't go all of the experiences that you want to do that make you who you are today. So again, their actions is on them and you know what, throw a prayer up to them and hope you never have to see him again, wish them well.

JP Maroney:

You know, if you are watching or listening to this episode of the deal flow show, you can get access to our archives, our previous episodes, and also subscribe and follow us to get access to future episodes. As we release them every week, by going to the deal flow, show.com the deal flow show.com. We've got Brian Esposito on Esposito, intellectual. Um, so you have a quote and I'm going to read it so I don't get it wrong, but you have a quote that your people are quoted you as saying unafraid of creating and seizing business opportunities, expanding into new markets and launching innovative products and services. Um, what would you say are your personal characteristics that make that possible? Why, what is it that drives you like that

Brian Esposito:

I've, I've learned that everything's possible, you know, I've, I've learned that there's always a solution to get through whatever the case may be and the more resources you have available, the more realistic that that is, uh, it was funny is that people used to call me when they had a problem. And, and I would actually say, Oh man, you have nowhere to go. If you're calling me, I am, I am your last resort. If, if I'm the guy that you need to help you with something, well, what's ultimately grown from that is that, you know what, I, I do have a lot of resources. I do have a great network of people that when I call they, they not only pick up the phone, but they want to help me. And, you know, somethings take a day, somethings take 10 years, but I'm a man of my word. And I, and we get to where I said we were going to get. And hopefully we get beyond that. Um, uh, so to answer your question, you know, I've never, I've never been afraid to go after an opportunity. I mean, I will get in the trenches with anybody to help them accomplish whatever they want to accomplish and, uh, and, and, and move it forward.

JP Maroney:

Okay? So not every deal is the right deal. Not every person is the right person. Not every company is the right company. There are often those things that you go, you know what, this is a nonstarter for me, this is a deal breaker. So when you look at opportunities and you look at people that you could potentially work with, you could pull together, what are the deal breakers?

Brian Esposito:

The first thing I look for is obviously, can we work well together? Um, we want to make sure we're, uh, as, as like-minded as possible, uh, a deal breaker for me, and this isn't a knock towards anybody to each their own, but at anybody that maybe has a certain level of, um, too much interest in material, materialistic things. If I pick up during conversations that everything's about maybe what they have or where they vacation or their home or their car, or they're trying to flash meter or watch that stuff is just noise to me. So I don't, I don't, um, I don't relate well to that. And, uh, and if that person and me to go off and make a million dollars together, I still wouldn't want to be, I still wouldn't go into a deal with them because we just have, we're just on two different paths. That's the biggest deal breaker for me. I mean, if it's something that's looks like it's a hard, impossible journey, I jump into that even faster. Uh, so the biggest deal breaker for me is it makes sure that we're like-minded, and that we're as close as possible to understand the real importance of life. And, um, and just, I love simple as this. I love doing good things with good people. Uh, other than that, I don't, I don't get involved.

JP Maroney:

One of my favorite books I read many years ago, and, you know, building companies for 30 years, you're basically a glorified salesman, right? So you're out there selling your opportunity or selling your deal, selling your product, selling the next contract, whatever it is. But I read a book many years ago called dig your well before you're thirsty by Harvey McKay. And he talked about building that network, having a network of people that you can rely on on a GoTo basis, whether you're putting a fundraiser together for the president, whether you're putting the next project together or deal, or trying to launch a product or raise capital, whatever it is, what is your process and how have you over the last 20, 25 years worked on your network to continue to build that you obviously have a lot of deals on the table. You have a lot of interest in companies in your holding company. How have you built the network that's made that possible?

Brian Esposito:

Yeah, the, the important thing, and there's been times where I've almost jeopardized it it's, you gotta be very careful who you bring into that network. Uh, you know, one of the tricks that we have now is we have a compliance team, uh, as a private security division of, of our entity. So real people with real good intentions that have what they say they have will not go through that process. Uh, so that's allowed me to continue to properly build a network. Now I have a level of protection where we are not bringing in anybody that shouldn't be in that network. Um, and again, I'm a connector. So I, I always want to connect a B and makes the that's just what I love to do. So, but you have to be very careful who you connect. Uh, and I've also learned very important is it's not only great to connect the right people, but it's, you know, equally or even more important.

You've got to connect the right people at the right time. There's been so many times where I've been too soon as I was so excited about something, and I wanted that to happen. Uh, you know, reminds me of that scene from Tommy boy when he's going through how he killed the sale and that whole chicken wing scene. And, uh, I've been that guy because you, you see what you want to accomplish and you want to go out and get it and you want to get it right now. And that's the, um, I think that's the caveman in us. We, we, we want to go out and get it. We want to go out and make it happen. Uh, but in business, the timing is everything. Uh, there's been so many times where deals have fallen through and I've been excited because you know what, it's just not the right time.

There's a reason for everything. If it falls through, don't sit and cry about it, don't whine. And what is that going to do? Chop one off a thank you universe, wasn't the right time and continue to nourish it just because it didn't happen that day as you planned, or as you expected, keep it alive, keep it, um, uh, that's one of the things I do to it's exhausting, but I reach out to everybody and wish them well, and I'll happy birthdays to them or their kids happy holidays. And it's not ever, or always attached to an ask if people genuinely connect with you and you genuinely like them, it's important that you be on their mind because there will be a day when you will want to do something with them. There will be a day where you have an opportunity and because you are a genuine, good caring person, they will pick up the phone. They will answer the text. And before you know it, you have, um, they have something in motion, which is great, but it is exhausting.

JP Maroney:

I agree. What was it, Joe? I'm Joe Gerard, the car salesman, you know, used to have, he had two or three full time assistants that set on a daily basis and wrote birthday cards and anniversary cards and sent them out. He holds a world record for the most cars sold because of it, but it's not just building that network, but as you said, protecting that network and then making sure that you nurture that network. That's awesome.

Paul Nicolini:

You know, you've done a, you've done a lot, Brian, uh, up until now. And certainly, uh, you, you referenced Tommy boy, did you ever sell brakes anywhere in your lifetime? Uh, so what, so tell us, tell us, Brian, what are some of the goals that you hadn't reached? You want to share with us? Maybe some that you're trying to attain now as well,

Brian Esposito:

Find a way to balance some of my own passions and loves in my own life. I love to work. It's just how I'm bred. I need to, I need to figure out how to work on who am I outside of work? You know, I've, I've lost that person, um, which is okay, I'm not complaining, but that's something I need to figure out how to accomplish. I think a lot of entrepreneurs need to figure out, uh, how to accomplish that. And, and I don't want to say I'm on autopilot, but when it comes to work, it's I wake up and I do it. I do it throughout the day. And when I sleep, my brain is thinking of ways to solve that day's problems or come up with something new. I don't think that's necessarily healthy. Uh, I do know that's how I'm wired. That's how I've always worked. But I, I would like to, um, I'd like to hit pause when I can and, um, and, and work on myself outside of the professional world.

JP Maroney:

That's sounds familiar though. You say you get up at three at three o'clock in the morning with the wheels turning that your day. Right? We don't know anybody like that guy, man. I'll tell ya. Um, so what, what sort of people, you know, we have, we've built a network obviously through our own professions, but the deal flow show has really opened a lot of doors. We've had a wide variety of people on the show, everything from the original shark on shark tank, Kevin Harrington, your cousin, Howie D and his brother, John, but Holly, from the Backstreet boys, two guys that are just deep loaded into the capital markets attorneys, just a huge variety of people. What sort of people? And we have a lot of the same, many people listening to this and watching this show as well. What sort of people would you like to hear from, or connect with from our network that would help forward the things that you're working on or that you think would be interesting?

Brian Esposito:

Oh, by the way I watched how in John's show last night, it was great. So great work guys. Um, as far as people I'm open to everybody, I'm like the car salesman. I don't have four assistants, so I respond to everybody, uh, immediately. Um, people tend to think that it's not me even responding, cause I'm so quick. My mind is on and off the table. I can't leave anything lingering. Uh, so anybody that's listening when this air is five years from now, reach out to me, uh, and I will, I will get back to you with, Hey, I'll, I'll review. It would love to love to find a way to work together. If it's not for me, I don't just say good luck. I'll connect them with somebody that I think could add value to them. Uh, I think it takes a lot of courage to reach out to somebody, uh, even behind a keyboard and through an email. I think that that shows a person that has drive and initiative. Uh, and I want to respect the time that they took to reach out to me and, and I would, um, help them any way I can.

JP Maroney:

Fantastic. What's the best way for people to get in touch? Is it a website, LinkedIn? What do you prefer?

Brian Esposito:

I use LinkedIn for everything also Twitter. And then, um, so Brian JS, Zito, LinkedIn, and Twitter, and then the eie.rocks. So E I E dot R O C K S is the corporate page. And, um, yeah, that's how you can, I'm accessible. Uh, and again, I get back to everybody typically within an hour or so, tell us,

Paul Nicolini:

Well, Brian, tell us something that otherwise, uh, people in, in your, in your circle or actually in our circle as well, doesn't know about Brian Esposito. Can you share something about yourself?

Brian Esposito:

Yeah, I kind of, I put everything out there when I do these, these great talks with people. Um, you know, I'm here for the long haul. Uh, I, uh, my name's attached to something. I will work it to death to make sure that there was some level of success that it left behind. Um, a lot of failures that, that are, that I've been through were really only a failure is because of not the right timing. There's a tech that I developed in 2008, which is now not mine, but it is. Now, if you see what Venmo is, we created that in Oh eight called payback because I knew there was a whole micro lending economy of billions and billions of dollars. We've created the platform. We were, uh, we were collecting payments from people all over the world and we were printing out checks, mailing checks, and, and I had a token system.

It was much like crypto. I could not get a bank to understand what I was doing. I could not get a bank to back me. Uh, and I, I see the end of catch me if you can, when Leonardo DiCaprio has got that check machine spinning and all these checks are all over the place we were doing that, uh, on, I had unfortunately park it because I didn't have a banking license. Uh, some people would move to a Caribbean Island and keep doing that. That's just not how I am. I said, well, this sucks. We hit, we hit on something. Great. And, um, and, and we parked it, oddly enough, we have tech, that's rolling out. Now we have one tech, that's reaching over a hundred million people, and I'm going to bring that code back. I'm going to bring that technology and implement it into this system and offer.

I mean, honestly, what we created is so much better than what it's being used. Now I had, um, you know, a fun story for your listeners is that I knew I needed a marketing campaign for that tech and immediately thought, well, wimpy from Popeye, I'll gladly pay on Tuesday for a hamburger today. I mean, I couldn't ask for a better, for a better character. Went to Hearst. Media has offices in Manhattan with no appointment. I'm 22 at the time. And, um, and wound up in this woman's office, either Goldman, she's the head of their licensing for like 40 years. She first she goes, how did you get here? And I said, well, that's irrelevant. I'm here now. Let's, let's just talk. We spent a few hours talking and they handed me the rights to wimpy for nothing. They said, Hey, if it's a success, we'll win.

We believe in you. Good luck. And that's how you create opportunities. That's how you make things happen. You can not sit and hope it comes to that. You gotta get out there, you got to go out and figure it out. You got to meet the right people. And that's why, you're how you present yourself, how you articulate and, and going into a room. And I said to her, Hey, listen, this is what we're doing. We're already doing this amount of business. I'll guarantee you a royalty because I have, I have revenues to base it off of. Uh, and I just need to, I need to grow it. And you know, what sucks is, I'm just too early. And there's so many inventors and people that develop things that have been too early. And it's, it's a, it's a hardest thing to swallow, especially when you may not have anything else to fall back on.

Um, but when you weather the storm, like, like I like to do, when you sit with things, when you, when you support it with the resources needed, now it comes back, you know, neon colors came back, you know, leggings come back and the bell, bottom jeans they'll come back at some point. So things come back. If you can keep it alive and, and, and, and nourish it like your network, uh, you can recreate value, which was a dormant, maybe dead asset. And that's something that I love to do. And that's one of the things that I love to do when I work with companies all over the world,

JP Maroney:

As I said, pioneers, get slaughtered. It's, it's crazy. As you said, we've all been there. Uh, there are a lot of us have been there where you had this idea, you actually acted on it, built it. It was just not the right timing, but people come up with ideas and then they don't act on it. That's the scary part. And you look down the road and somebody come up with that idea. They they've put it into action. It's all about execution. So, yeah. Fantastic. And by the way, I'm thinking of bringing back parachute pants, don't you think that would look nice in a pair of pair of shoes.

Brian Esposito:

He knows desire to MC hammer. So let's do it. Let's just timing is now

JP Maroney:

I was thinking more overalls and you're a Texas guy, right? So that's right. Brian Esposito, Esposito, intellectual. Um, nice to have you on the show. Great to meet you finally, at least virtually if you're down this way, um, definitely look us up. If you're at your cousin's I'm over the fence, I live next door to him. So, uh, but yeah, but absolutely look forward to meeting you on behalf of mr. Cohost here, mr. Paul Nicoline, I'm JP Maroney, Brian Esposito. And by the way, if you're watching or listening to this episode of the deal flow show, and you're thinking, man, I know the perfect guest, maybe that's you, right. Or maybe I know somebody who would be the perfect guest, get in touch with us. Our producer, Daniel Penn Miranda, would be happy to share with you how you can get booked for the show and be able to find out if you qualify. And it makes sense if you're listening to this show and you know, other people that are in the deal making process, the capital markets, share it, tell other people about it. And we look forward to seeing you again, in another episode of the deal flow show, take care, everybody. Thanks, Brian. For more episodes, visit the deal flow show.com and subscribe

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