Showing posts with label P.T. Barnum. Show all posts
Showing posts with label P.T. Barnum. Show all posts

Thursday, February 28, 2013


P.T. Barnum
When I talk about becoming a promoter here, I talk about promoting your business.  No matter what your business is Promotion is a vital part of any business.  Which better way to learn than by studying the greatest promoters of all time.

Dana White ranks the best promoters of all time (P.T. Barnum, Vince McMahon, Don King, Bob Arum, him last), and give a special place to Mama Kardashian / Kris Jenner.

“That’s a tough one, man. I think if you look at the fact that people still know who the (expletive) PT Barnum is, you’d have to go with PT Barnum as No. 1. Um, I’d probably put Vince No. 2. Vince and Don are both up there in age. Vince is still in there, (expletive) doing his thing, cutting huge major deals. I would put Don King No. 3. Who else did you have? You’d have to put Arum in there, too. You have to put Arum in there. And if I had to be on there, I’d put me last.”

"I have no idea. I don't think I'd be someone who would make that decision. I think there are a lot of great promoters. People know who Barnum is, Vince McMahon has been around a long time. Don King. Mama Kardashian, if she isn't the greatest promoter of all time, I don't know who is. The show is about nothing and her daughters are some of the most famous people on earth and are making millions. I don't think you could count her out. I'm very proud of what we've been able to do and we've done things that people have never done before, things even boxing couldn't do in its heyday. I don't think about who's the greatest promoter of all time."

Vince McMahon and P.T. Barnum lived a century apart, but have tremendous similarities in their desire to dazzle the public with a mix of reality and fantasy. Both showmen have sought to provide "bigger than life" attractions, which have been effective in very different eras.

Key traits of P.T. Barnum, the successful entrepreneur:
1. Started with no financial advantage or backing.

2. Major risk taker.

3. Dreamed big dreams.

4. Understood his audience.

5. Willing to ignore the truth; created his own "truths".

6. Hustler

7. Generated excitement

8. Self promoting

9. Master of promotion; able to get audiences to suspend disbelief.

10. Presented attractions "bigger than life" (George Washington’s "nurse," Jumbo the Elephant, Jenny Lind, etc.)

Key traits of Vince McMahon, the successful entrepreneur:

  1. Started with no financial advantage, but did have a "foot in the door" with his father’s business.
2. Visionary.

3. A big risk-taker, who achieved big rewards as a result.

4. Amazing passion for the business; it is his life.

5. Willing to work non-stop to succeed.

6. Creative genius.

7. Understands his audience and delivers.

8. Brutal competitor.

9. Doesn’t just "think big" – thinks huge!

10. Seen by some as ruthless; by many as relentless.


-- both built businesses that impacted the entertainment industry in ways no one expected.

-- both active participants "in the spotlight" in worlds that they created; both spent time at the microphone.

-- "bigger is better" -- Jumbo the Elephant for Barnum; Hulk Hogan, Andre the Giant for McMahon.

-- both mixed reality with fantasy.

-- both risk takers.

-- both brought creativity, innovation to entertainment.

-- both pioneers in their achievements.

-- both used "shock value" to capture an audience.

-- both wanted to "wow" people.

-- both controlled their show’s content.

-- both appealed to violent nature and lurid curiosity.

-- both used Madison Square Garden as a key venue for their shows.

-- both supported hospitals and charitable causes: McMahon supporting Make-a-Wish; Barnum the first president of Bridgeport Hospital in CT.

 -- Barnum was a loner; Vince brought his family in.

-- PT took a bizarre and scary approach to entertain; Vince did it with more glitz and power.

-- Barnum performed himself aggressively on the lecture circuit: museums, ten gatherings, theaters, private homes. Vince became a central character on his weekly TV shows, as the WWE owner Mr. McMahon. 

-- Barnum was a politician: he held offices as Republican representative for Fairfield, CT, as well as Mayor of Bridgeport. To date, Vince McMahon has not shown a desire to run for office, although his wife Linda has.


UFC fans don't want to hear this, but Vince McMahon is clearly Dana White's business role model. The WWE has built its business on the following:
  • Use of free cable TV programming to reach fans and promote Pay Per Views
  • PPV as the big revenue driver
  • Aggressive international expansion
  • Ruthlessly compete against domestic competitors and buy any that are too big to crush
  • Use the brand and the company executives as the front man of the company to prevent any single fighter/performer from getting too big.
The UFC has built its business on those five pillars.


Vince McMahon
Pro Wrestling / WWE

Don King

Bob Arum

Dana White

Joe Weider

Thursday, September 20, 2012

Bankrupt Millionaires

Being broke is not so bad
There is always a tomorrow.

Look out at this very interesting article by Michael Dunlop about entrepreneurial millionaires and billionaires who bankrupted on one or several occasions.  Keep in mind that the average entrepreneurial millionaire goes broke or nearly broke 3.2 times.  Don't forget that J.K. Rowling was on welfare while writing Harry Potter.  The rest is history.

Went Bankrupt, Now Worth Millions!

Went Bankrupt, Now Worth Millions!
Hello Everyone,
With this so called Recession, thousands of people are going bankrupt everyday and at the lowest point ever! Today’s list is to show you guys that although times are tough and you think you have lots everything and your to old to have another chance, well your wrong!
I was once told that you arn’t a true entrepreneur if you haven’t gone bankrupt at least once! Well Walt Disney shows us how its done, he was fired by a newspaper editor because “he lacked imagination and had no good ideas.” He went bankrupt several times before he built Disneyland. In fact, the proposed park was rejected by the city of Anaheim on the grounds that it would only attract riffraff.
It is also noteable that I have included the founder of Penthouse and the blogger Perez Hilton both web entrepreneurs! The difference between them and the others on the list is that their money is new money, made in the last 10 years! If you would like to follow in their foot steps then check out my FREE 7 day eCourse to making money online!

30 Entrepreneurs Who Went Bankrupt

NameBirthdateProfessionBankruptcy DateEventual Net Worth
Henry Ford
July 30, 1863Founder of Ford Motor1903$188,000,000,000
Donald Trump
June 14, 1946Real Estate Developer1990$3,000,000,000
Walt Disney
December 5, 1901Founder of Disney1921$1,100,000,000
Anna Nicole Smith
November 28, 1967Model, Actress1996$450,000,000
H.J. Heinz
October 11, 1844Founder of Heinz1875$400,000,000
George Foreman
January 5, 1949Boxer/Grill Spokesman1983$300,000,000
Bob Guccione
December 17, 1930Founder of Penthouse2003$400,000,000
Kim Basinger
December 8, 1953Actress1993$250,000,000
Clarence Saunders
August 9, 1881Founder of Piggly Wigglies (Now Safeway)1922$180,000,000
Milton Hershey
September 13, 1857Founder of Hershey1880$150,000,000
Larry King
November 19, 1933News Anchor1978$144,000,000
William C. Durant
December 8, 1861Founder of General Motors and Chevrolet1936$120,000,000
Ulysses S. Grant
April 27, 1822President1881$95,100,000
Francis Ford Coppola
April 7, 1939Film Director1990$67,400,000
Isaac Hayes
August 20, 1942Singer, Actor1976$50,000,000
MC Hammer
March 30, 1962Rapper1996$33,000,000
Wayne Newton
April 3, 1942Singer, Actor1992$30,000,000
Burt Reynolds
February 11, 1936Actor1996$30,000,000
P.T. Barnum
July 5, 1810Showman
Mick Fleetwood
June 24, 1947Musician, Activist
Randy Quaid
October 1, 1950Actor
Stan Lee
December 28, 1922Founder of Marvel
Abraham Lincoln
February 12, 1809President
John Connally
February 27, 1917Govenor of Texas
Heidi Fleiss
December 30, 1965Hollywood Madame
Perez Hilton
March 23, 1978Blogger
Buffalo Bill
February 26, 1846Showman
William McKinley
January 29, 1843President
Jerry Lee Lewis
September 29, 1935Singer, Songwriter, Pianist
Benedict Arnold
January 14, 1741Major General

To our success in 2009,

Michael Dunlop

PS. What are you doing to beat this recession?

The link to the article: