If you’ve ever eaten a Quest Bar, than your life has already been affected by entrepreneur and inspirational speaker, Tom Bilyeu. We sat down to speak with Tom about his latest company and digital show, Impact Theory, whose goal is to incubate the next generation of companies and content creators.
After spending six years growing the Quest Nutrition brand to an industry leader- with over 57,000% growth in its first three years alone according to Inc. 5000- and helping people achieve their fitness and nutrition goals, Tom Bilyeu is now focused on completing the second half of his vision.
Bilyeu’s goal is to accelerate mission-based businesses and create empowering media-based IP through his new company and entrepreneurial mentorship show of the same name, Impact Theory. Tom delves into the mind-body relationship and the role that mental state plays in a person’s success story. He aims to expand people’s vision of wellness from just the body to a 360-degree view that encompasses both body and mind, and addresses the dual pandemics of physical and mental malnourishment. His goal with the content? To become the modern day Disney, in the sense that the company will become a studio with a clear and recognizable brand image. The first steps toward this goal have been cultivating an online community by providing value to his audience in the form of his talk show, Impact Theory. Some of the recent guests have included heavyweights from across a variety of industries including Michael Strahan, Tim Ferris, Gary Vaynerchuk, and John Paul DeJoira, among others!
Tom Bilyeu believes that the human potential is limitless, but knows that having potential is not the same as actually doing something with it. For a guy who started out making nutrition bars in a small kitchen with his closest friends, to a CEO of a unicorn company, he sure knows something about execution. We sat down to speak with Tom about how he plans to replicate that success with Impact Theory, and how his new company plans to provide audiences with the the tools to execute on their own dreams and make the world a better place in the process.
PPLA: What entrepreneurial lessons did you learn from your success at Quest Nutrition that you can share with our readers?
TB: Social media has changed the world forever. I don’t think people have really fully come to grips with just how much. People want transparency and connection with the people inside of the company. They want to know who you are and what you stand for – not just what you make.
Be mission-based. If you’re getting into business just to make money, you’re going to fail. You won’t have the energy to fight when things get tough, and your consumer will feel that you’re just in it for the money. Your mission may be your best marketing vehicle. It reveals who you are and what really matters to you, and what it means to support your company.
PPLA: How does your experience with Quest influence your decision-making process running your new company Impact Theory?
TB: Impact Theory is socially-focused in the extreme, and we are entirely mission-driven. Our marketing is very simple – we make content that our community values. We see the community that we’re building as the head. They are in charge. They make the decisions. We see ourselves as the neck. We can swivel the head, tell them what to focus on, but at the end of the day, the market will always decide what lives and dies. So our thesis is simple – deliver an overwhelming amount of value to our community. People will pay for value. And quite frankly, value is the only thing that they will pay for over time. You can market your way to a quick win, but only value is sustainable.
PPLA: What is Impact Theory and how will it help other entrepreneurs?
TB: To oversimplify, we incubate mission-based companies and content creators that make empowering content. We are layering technology on top of our community to identify virality in a business concept or piece of content. Once we identify that the community wants to see something come to fruition, we step in to help ensure that the start-up or piece of franchise-able content actually gets made and monetized.
PPLA: What will you be looking for from entrepreneurs in deciding whether or not to mentor them through Impact Theory?
TB: That the community wants to see their idea become a full-fledged company. That they have a mission that we believe will help make the world a better place. That the entrepreneurs have the chops to run a company.
PPLA: Can you share your top 3 tips for new entrepreneurs in building brand awareness?
TB: 1) Solve a real problem (2) Leverage social media to spread the word through value-add content (3) Under stand how influencers work in the age of social media
PPLA: What do you think are the biggest mistakes most first-time entrepreneurs make?
TB: They’re chasing money. They aren’t solving a problem . They don’t work hard enough. Not nearly hard enough!
PPLA: What routines do you have that help set you up for success?
TB: I work out 5 days a week. It toughens you up and helps you develop discipline. It also sharpens the mind. I meditate to calm the mind and keep from getting quietly overwhelmed by stress and pressure. I keep a list of the most important things I should be doing and I go over it every day. Also, I don’t check email for the first 8 hours or so of my day. I don’t let other people dictate my attention or schedule.
Watch all the episodes on Youtube.