Next year, David hopes to study mining engineering at Adelaide Uni. And in 10 years time, he hopes to be a prevent. >> So this month, I should hit a billion dollars in sales before I turn 31 years old.
>> Don't let me buy a boat today. A billion. [music] So at the moment, you can see here on Shopify.
When I refresh here, this is just the Udy store, which is about at 860 million. That being said, I've got another 155 or so million across the other e-commerce brands that I owned and started. If you do that math, we're well over a billion, which isn't actually true because when you get to certain sales numbers, these reports over long periods of time don't make sense.
So, you're going to have to take our word for it. We're about $10 million away from hitting a billion in sales. All of those sales will be coming from the Udie.
So, it's going to be easy for me to track the Shopify dashboards and show you every single day. But for today, we're actually going to shop some houses in Gold Coast. >> Can't believe you bought a Ferrari, man.
>> Oh, yeah. Fully not rented, man. [laughter] >> That's really good.
[music] >> Proximity is power. The more you are closer to successful people that emulate a life that you want to live, the more likely you are going to achieve that life. I think Gold Coast is turning into a bit of an ecom hub.
And I think that having a property here will surround me with those people. But more importantly, it's not freezing cold in winter. There was frost on my Gwagon this morning.
Then it's like 20° here. So that is why we're here. That is why we what we've got to get rid of.
So, it's important to know that a billion dollars in revenue sounds impressive, but what really matters is cash flow and profit. And truthfully, I haven't done that well in that. I probably went too aggressive in revenue in the early years.
I didn't have enough financial reporting. I also bought businesses that I shouldn't have bought and took on way too much. Tried to do this big massive roll up and that lost me, you know, 105 million.
These are the things that I have learned the hard way so that next businesses I can make them far more profitable. I can make them more cash flow positive. [music] [music] >> Dude, this is nice out here.
Like this is massive space. I don't know what boat I'd get. >> Get the song beard.
I afford that like buying a house of them maybe eventually. It's really nice. Get [ __ ] up paintings.
Get a 90-in TV there and pool table here. How How quickly can I bogan up this beautiful home? Yeah, I would make an offer for this place.
>> Yeah, >> I think it's good. I think the view is really nice. It's low maintenance.
There's no real grass. So, I already spend 150,000 a year with gardeners at home. More $200,000 keeping the yard there.
So, if I get two houses like that, it's starting to get a bit ridiculous. >> [music] >> Oh, >> good afternoon, Josh, for speaking. >> Hey, Josh, how you doing?
>> Good, thanks Davey. >> Uh, you were trying to get on my assistant, I think. >> Yeah, I was just giving her a call.
>> I just wanted to get a bit of initial feedback. That was all. >> I can definitely offer 5 million for it cash straight away.
You know, I can settle within a week, [music] uh, 2 weeks, whatever you really want. Anything over that, maybe I would entertain the auction. Keep, I guess, looking at buy court as well.
Well, look, what we might even do is put it on on a letter of offer this afternoon and that way we can have a conversation with you overnight and then sign contract tomorrow and hopefully get the deal done for you. >> I appreciate your time. We'll see you shortly.
>> Awesome. Thanks, Josh. Bye.
>> Thanks a lot. Bye. >> Yeah.
No, they didn't laugh in your face. >> I just talked to JK and she's like, you know, this is the second time that you've just bought a house without me even seeing it. Like the last my farm that I bought, I just called her and just bought it that day.
She's like, you're doing it again. I was like, oh well. Lucky they're nice houses.
So, it's been a crazy few hours. I've struggled to vlog because I've been just jumping around a lot. But, we're at $716,000 today, which is definitely under forecast.
This happened last year, unfortunately. That being said, we've just got such an amazing team at Woody. They fixed it last year, they'll fix it this year.
I've talked about it multiple times. I'm not super involved in the day-to-day, so I chatted with the CEO, give some advice where I can. So fingers crossed we can get those numbers up a little bit more to a million dollars a day.
And I have full faith in them. They're amazing team. But that being said, I'm about to call the real estate agent back cuz I just missed the call for him.
>> Hi Davey. >> Hey Josh. How you doing?
>> Yeah, good mate. Good. We've had a couple of meetings with them this afternoon.
Um Mark is on the phone with them at the moment. Mate, he's made a bit of a big decision for them because we've had another buy sitting there at 51 with a long settlement. I think we discussed the other day.
Um he's looking for like 180 days. pushed it out to 200. They basically said, "Look, the price is good.
Um, but obviously your conditions are pretty sharp being 14 days. " They're happy enough to agree to your offer of 5 million. >> Awesome, man.
>> Sign off on everything. If I send that across to you now, mate. They're going to sign off on everything tonight.
>> Awesome, man. Sounds good. I appreciate it.
Yeah, we can we can sign off. That's no problem. >> All be done, mate.
So, I'll do congratulations. >> Appreciate it, mate. I'll chat to you soon.
>> Thanks, D. Bye. >> See you.
Bye. So, we got the house. So, this has been something that's been in my mind in terms of like every morning I visualize and picture my future.
It helps me grind. It helps me work really, really hard when I know what I'm working for. And having the picture of me and my family and my partner sitting on this house, beautiful house in sunny Gold Coast has literally been one of the first things that I do.
So, I'm so so appreciative. You know, this is what all of the hard hours are worth, you know, so very exciting. So, we'll close on that.
you. I'm probably not going to film over the next couple of couple of days cuz I got the weddings, but very exciting. [music] All righty.
So, sales update. This is one of those days that makes you want to get out of e-commerce. My AI store that I've been building for [snorts] Daily Menor completely fell off a cliff.
The Udie over the weekend while I was at the weddings did $750,000 each day. You know, I I'm trying to be real about this video because I think too many times people see, you know, big numbers. One, they hold me on a a higher regard than probably they should, but also they always think that, you know, people that are really, really strong in business or put out big numbers are just constantly constantly winning.
And nothing could be further from the truth. This is always the message that I push to daily mentor people is that you it is such a multiaceted skill. You need to be really good at operations.
You need to manage your finances so you don't run out of cash. You need to make sure that you're delivering marketing at at really really innovative ways so that you can lower customer acquisition costs. You can get new customers coming through to the brand as well as returning customers.
You need to understand product. How do we get customers excited about the product again and again and create product iterations? You know, these are one of those days where I'm just like, God, this has just been so difficult to get right.
Kind of a grim update at the moment, but as I said, I want to be raw. I want to actually show you guys this probably over the next couple of days as well. I'm going to fill you in on what's happening with Daily Mentor.
Daily Mentor isn't included in this billion dollar sales target that I'm talking about at the moment. That's just my ecom brands. But I guess one positive is our investments are doing really well.
So, their sales are actually hitting targets. So, good on to them. Yesterday we had an uplift.
We are at $800,000 yesterday. So that's better than the $700. The day before was like 700.
The new offer is slightly working and we're a little bit on track, I guess. [music] >> [music] >> So, as I've mentioned a lot, I actually don't spend too much time on Audi. I spend about an hour, 2 hours a week on Audi.
The main thing I focus on is Daily Mentor because 3 years ago, I launched Daily Mentor Community or Premium, depending on how you want to look at it, which is for brands doing over a million dollars. And through that, we hired 30 coaches that will handhold e-commerce brands because I made so many mistakes when I was growing my e-commerce brands and it was absolutely hell. And I was like, how can I prevent this for people going forward?
And everyone knows that, you know, for the past 6 years, I've been creating free content for beginners and have never actually had an offer for beginners. I actually realized through this coaching, through these million-dollar brands that coaching is undoubtedly the most important part for so many people because they generally have this one roadblock, this one constraint that they've hit against. It might be how to find a product, might be how to set up an ad account.
They don't have issues with a hundred other parts of of the business. But unless we can get really really good people at scale creating content and also jumping on calls with people, so many more beginners aren't going to actually get the results that they want. So that's what Daily Mentor Academy is.
We got our first call with the first cohort. We're just letting small amounts of people in at the moment to make sure that they have a really good experience. So I'm going to be jumping on as other coaches on the call.
So I'll just answer a couple of questions for him. >> Weight distribution. >> It's because I use the 8 kilos and I'm too weak to lift the 42s to move.
[laughter] So they're just decoration. >> Yeah, they're just like kind of sit there. They're just ornamental dumbbells now.
So this morning we filmed a couple of videos after training. Definitely getting sick. Definitely getting run down.
So I didn't film all four videos, but we got one awesome YouTube done. Now jumping on a call with Daily Mentor Academy. The first group call.
Group calls are very effective because chances are the question that someone else is asking, you probably haven't even thought about and then you get an answer to a question that you weren't even asking. So, this is why we have group calls. Um, should be fun.
>> My name is Karen. I'm from Christ Church, New Zealand, and I own Henry Francis. Bigger goal is to be a jewelry company, but right now we just have bring try on kits.
I just don't know what a good ad looks like. Like, I don't know what good content looks like. >> Karen, can I ask uh why you started the brand and what's different about you?
>> So, why I started it is because I had a really awful try-on experience in store. Told me to leave. like basically they could convince my partner alone without me.
And it's very pressurefilled. It's very salesy. There's not a lot of like time to have a discussion with just your partner.
And I feel like that whole experience is a moment in itself. So I feel like this should be sort of taken back and given to the couple. >> So that was a pretty good ad to me.
I would just literally grab your iPhone and literally say that exact thing and then run that on Facebook and you'll be shocked. that will probably be your top performing ad for the next year cuz it's so authentic, right? Like it's just why you exist.
You've got a personal story and I think that's really important. Definitely just do Facebook initially, but honestly some of the creatives that you've already made on Instagram and for your website, like you can run those as well with some voiceovers and stuff like that. So, the framework of like how we find ads, go to either an adjacent niche, which I actually think works really well.
Or if you're really, really struggling to connect the visuals, go to a jewelry brand, look at their frame by frame, what they've said, what shots that they've used, write those all down, get inspiration from them, and start running those, and you'll kind of see what works. >> Hey D, just wondering if I should get into email marketing. >> Yes, you definitely should.
Uh, I think that you want to set up welcome flow, abandoned cart flow, and set up a pop-up on your store. So, this will start getting contacts for you. As you're a beginner store, trust me, you're going to want these emails for the next product that you launch.
So, go into Omnisand, set them up. Look, full disclosure, they are a sponsor of mine, but I highly recommend them for beginners. I think that they have much better customer support, just a lot more accessible support, which is really important for beginners to be like, "Oh, why isn't this working?
" but they're also just way cheaper. So, get your basic flow set up for them and then you can expand on that later down the line. I've got an appointment, guys, so I've got to run.
But awesome work to all the mentors and it's nice to meet everyone. I'm super excited for the program. Chat soon.
>> Thanks, dude. >> See you. So, that was really cool.
We had someone that had zero sales, someone that got their first two sales in the first week of joining, then we had someone that has had a business since January and is doing reasonably well. So the breadth of kind of different people within there is cool and the conversations were so multifaceted which I'm super excited about. The end goal for Daily Mentor is to have the biggest e-commerce community in the world and to create as many millionaires as possible.
In businesses in the best brands in the world there's often this one thing as good book on it that drives everything and that's YouTube for me. So you know for Disney it was creating amazing movies that flows into their theme parks that but without the movies nothing else happens and that's similar to YouTube for me if I can create awesome content if I can stay an expert in the space if I can keep progressing and learning so I can deliver more value then the e-commerce community that I find very rewarding will flow on from that. [music] So it's been 5 days since our last update.
Total sales for those 5 days is 4. 5 million. That means for this month, not including today, we're at about 17 million.
So, we should end up the month over 20 million, which is so far away from where it's been, but at the same time, I think we recovered really well cuz we could have been 50% down on forecast. Tons of lessons in that. I'm not going to go too e-commerce specific for this vlog.
Funnily enough, we should hit the billion tomorrow, which is actually my birthday. Black Friday often lands on my birthday. So, there's just something about me in e-commerce.
When I look at the next chapter of my life, I do believe that I want to work with founders, not in a broad way, but more importantly work very very closely with a select group of founders with e-commerce brands that I really love and help them achieve a really really good result. I see philanthropy and also that investment side being kind of like the foundation of my future. This is why I was so excited when I got asked to be the youngest judge on Shark Tank ever because I knew that it was going to open the doors to so many different entrepreneurs that I could invest in and share my knowledge with and help them get to a place where Udy was.
Shark Tank probably came at one of the worst moments of my life, the lowest moment of my life. I was having panic attacks every single night and my businesses definitely weren't going well. You know, I talk about things going really, really badly in business or disappointing results all the time, but that's cuz we have such high standards.
You know, at this stage, they're still healthy. They're all profitable. They all make money.
At that stage, it was touch and go whether I was going to lose everything. I remember sitting around the dining room table with mom and dad, and they were like, "We don't think you're in the right mental headsp space to even think about doing this opportunity. " And truthfully, they were probably a little bit right.
up. Sometimes these things pop up that you know you need to do and you know you need to throw yourself into the deep end then learn to swim. So now we're actually pulling up to a boat store because I realized we have a jetty at the new Gold Coast property.
So I really want to be able to catch Marlin. I don't know if that's like a thing or not. I don't even know if Gold Coast have Marlin, but I want that big chair that you strap in.
So we might buy a boat. That's what we want. We want the Marlin.
>> Can you catch one in Gold Coast? >> Yeah, I think so. Can I catch one in Gold Coast is a very different question to can they be caught in Gold Coast.
Well, that's why I wouldn't buy a boat cuz I want to catch a marlin. I wouldn't know what to do with one if I caught a mar. Oh, that looks cool.
This looks like us. >> Uh, it's not big enough. >> Yeah.
How much are you looking to spend on it? >> I reckon about 600,000. But this one looks cool.
>> Oh, yeah. >> Like that's a pretty dope boat. >> That is in Queensland.
So, we could go buy that when we land. Don't let me buy a boat today. Oh, you can get the boat and the RV.
>> Go for Walter White. Oh, maybe I should get a jet ski. Jet skiis are a bit boring though.
>> Really? >> Don't you? Like, well, they're fun for like 30 minutes.
Then you go, what am I actually doing on this thing? You can't do anything. At least a fishing boat.
Catch Marlin. >> Probably you have the patience for it. >> Yeah, I don't really just drink beers on there.
Tomorrow, I thought it'd be fun to go check out our first ever Udy office and warehouse. Get some nostalgia going. Yeah, it'll be my birthday.
I don't really celebrate birthdays, but look, it it is what it is. And we should hit our sales target and we can chat through it. [music] Willie, fuds up, bro.
>> Oh [ __ ] Patience. Bully. Willy would help me pack woodies.
Calming blankets. >> Wait, we still got this table. >> Oh, still the packing table.
>> The packing table. >> Oh, I don't want to see it. I'm giving PTSD.
That's the old packing table. We got a photo of me and Charlie, the Labrador, packing orders there. So, I'm not going to take you through the offices, but it's not a bad office.
But that being said, we did have 30 people in like a 10 person office because it grew so quickly. Looking at how far we've come and we've got eight 3POs around the world. We've got two offices, one in Adelaide, one in Melbour.
We've got three successful companies. You don't think about that when you're in these humble beginnings. All you're thinking about is putting out the next fire.
You're thinking about how do I become better? You're constantly filled with self-doubt. This self-doubt is the thing that's been put into you by your teachers, by your family, by your so-called friends.
And I think that's the main thing that you've got to realize is that you'll have humble beginnings like this, but eventually you'll grow and you will make it. So, I visited my Vietnamese roll shop, one of my first businesses that failed catastrophically. I was back there making rolls with the the new owner of it.
It made me nostalgic. It made me want to come here to our old offices and and check them out. My goals back then when I was launching my Vietnamese roll shop was just to make as much money as possible because clearly I had a chip on my shoulder.
I wanted to prove everyone wrong. Now my goals is just to build something great and enjoy the process. I think too many people get too obsessed with results and the results are just a byproduct of just enjoying the process and staying in the game.
>> Hey Alice. >> Hey. How's it going?
>> Going good. How are you? How are you feeling?
>> Good. Yeah, not too bad. Just want to call cuz I've got something exciting to share.
>> How have we go? >> Yeah. So, I've been tracking total sales across the Davy Group brands and you've officially achieved [music] the $1 billion in total sales.
>> Exciting. When did we hit it? Was it overnight?
>> Um, no. I think it might have been earlier on in the month. Whoops.
>> Sorry. [laughter] >> Well, we just filmed the old vlog thing. So, I got the math wrong.
>> Yeah. Better late than never. Probably when I was away.
That shows why I'm not ahead of finance, I guess. >> Yeah. Yeah.
>> Cool. So, we're we're at a billion and a couple of million was probably >> You needed 8 million at the start of the month and we're at 18. >> So, be well over.
>> Awesome. Perfect. >> Thank you.
>> Thanks. Congrats. >> See you.
Bye. >> Whoops. [laughter] >> People accused me of lying about my sales.
I'm actually under quoting it now. After shooting this vlog, to be completely serious, I didn't really want to do it because it doesn't really matter. Like total sales, it just doesn't matter.
It's a cool milestone, something to somewhat celebrate, but I don't think that we have even scratched the surface of the value that we can create with businesses and with the UDI specifically. And there's just so many things to fix. So it's like if it was skyrocketing, all the employees were growing and that we our product and our value to our customers was growing exponentially, I'd probably feel a lot better about this.
So it's bittersweet in that regard, but at the same time, look, I suppose you got to stop and celebrate some milestones. >> Where do you see yourself going? >> I think forward then backwards, then forward, then backwards.
And that's kind of how how this stuff works. I think we will figure it out. And I think we will hit 2 billion in sales.
And I think we'll do it far more profitably. And we'll do it by creating incredible products and incredible [music] marketing. Y God, he's cute.
He's put on 6 kilos. He's overweight as soon as Georgina started feeding him. >> Oh, so it's all GK's fault.
>> It is 100%. And she will not deny that. >> You reckon you were taking?
>> Wait, have you told your parents yet? >> Uh, no. >> You reckon they'll be shocked or they're kind of expecting it at the moment?
That was kind of inevitable, wasn't it? >> A Okay. Well, it was.
We're at 850 million. >> Good. How are you?
Oh, look at this. >> He's so cute. We did a YouTube video.
Someone commented. I was like, "What type of dogs are they? " [laughter] >> I was like, "These dogs.
" What am I reacting to? >> Uh, we hit a billion in sales. >> No.
>> Yeah. >> When? >> Total.
Uh well actually at the start of the month we thought it was >> You didn't think it was going though. >> Yeah. Yeah.
No. >> Good boy. Thank you.
>> Oh proud of you. You know that. A billion.
>> Billion. >> That's lots of zeros. Right.
>> That's a lot of zeros. >> I'm so proud of you. Well done.
>> It's good. Oh, he's got >> so tenacious. >> He's excited about the give up.
>> Don't give up. Super proud. >> Thanks.
[music] >> You're an excellent mentor for others, too. Billion. billion to [laughter] the next >> just as well because you just bought a bloody housing.
>> True. True. >> Oh, no.
That's really excellent. I'm super proud of you. >> You ever doubted them?
>> No, never. Same time, same thing every year. It's like, oh, and I was like, yay.
>> It's actually last Tuesday. Oh, that's really amazing. So, so good.
Can we get more sheep? >> We can get more sheep. >> We can get more cows.
>> We can get more cows. >> And dogs. >> Dogs.
Shout out to Freddy. I must admit, I didn't even think I should celebrate it to be honest. >> Why?
You have to celebrate birthdays. >> Birthdays are boring. >> Birthdays are >> Birthdays are another day.
>> They're really important. They're important for your mom. >> It's a birthing day.
>> Watch the tail wag. If you go here, [laughter] >> see, watch this. One of my biggest regrets is definitely not just stopping within those moments of building those businesses and appreciating not the billion dollar milestone, but the fact that I'd done $10,000 in sales or even get land my first client, $500 in sales.
These small wins are just as worthy of being celebrated as hitting a billion. I also started a bunch of other brands because I was so fearful that the UI was going to get taken away and they were from most people's perspective a failure because I had to end up closing them down. That being said, these businesses created so many lessons for me that I still use to this day.
So, if you're in a really stressful moment, maybe you think you're not worthy or maybe you're failing heaps, so you think everything's going to get taken away. Remember, every single successful entrepreneur has been in your position and you learn. It doesn't get easier.
You just get so much better and the game gets so much funner.
