Leveraging Dance Skills and Network to Build Multi-Industry Empire
TL;DR
- Leveraging existing skills from one industry, such as professional dancing, can be strategically applied to pivot into entirely new sectors like real estate, fostering unique business advantages.
- Building a robust, relationship-driven network is paramount, as these connections can unlock unexpected opportunities and provide crucial support for scaling ventures across industries.
- The event production business inherently starts with a significant financial deficit, requiring producers to manage substantial upfront risk and cash flow challenges to achieve profitability.
- Pivoting to virtual offerings during crises, like the pandemic, can unlock unexpected revenue streams and foster creative innovation, as demonstrated by a successful virtual show.
- Identifying and capitalizing on one's unique selling proposition (USP), such as combining dance expertise with business acumen, is key to differentiation and attracting high-level engagement.
- Investing in mentorship and masterminds provides invaluable shortcuts and accelerates growth by offering access to experienced individuals and proven strategies, bypassing common pitfalls.
- The core of successful entrepreneurship lies in human connection and collaboration, where sharing knowledge and fostering abundance among peers leads to mutual growth and deal-making.
Deep Dive
Lee Edward Smith and Katherine Aguilar, a power couple and former professional Latin dancers, have built a multi-industry empire by leveraging their skills in dance, culture, community, and networking. They are the founders of DCBX, one of the largest Latin dance festivals globally, and Rhythm Investor, a platform for high-level networking and investment. Their journey demonstrates how to pivot between industries and build a strong network by utilizing existing skills.
The conversation begins with Lee and Katherine recounting their early entrepreneurial endeavors. Katherine, from Northern Virginia, worked a nine-to-five while also running her own dance studio and teaching lessons, working approximately 16 hours a day. Lee, originally from Brooklyn, began his entrepreneurial journey in entertainment at a young age, starting with magic shows and eventually touring the country with seven different shows. They met in the Washington D.C. metro area while attending George Mason University.
Their partnership, which began as a business venture, has evolved over 17 years of marriage and entrepreneurship. They initially focused on professional Latin dancing, teaching, and touring. However, they transitioned into event production, organizing festivals and summits. A significant pivot occurred with the onset of COVID-19, which shut down in-person events. This led them to adapt by moving their offerings to virtual platforms, including online dance classes and a virtual show called "College Lipsync Battle," which became their highest-grossing year in two decades. During this period, they also launched a hot sauce brand called Greengito Sauce, fostering creativity through isolation.
The birth of their children served as a pivotal moment, prompting a desire for greater stability and security. This led them to return to their roots in commercial real estate, a field Katherine's family had experience in. They recognized the inherent risks and financial volatility of the entertainment and event production industries, where starting an event often means beginning with a significant financial deficit.
Their journey into real estate involved exploration and iteration. Lee tried wholesaling and considered fixing and flipping properties, but these avenues did not fully resonate. They eventually found their stride in commercial real estate, working with high-net-worth individuals, family offices, and sovereign wealth funds. They emphasize that success in entrepreneurship often comes from collaborating and learning from others, rather than viewing them as competitors.
A key moment of realization occurred at a Formula 1 event, where they understood the immense value of their existing network and their ability to connect with influential people. They leveraged this by, at one point, proposing a non-existent keynote speech at a real estate conference, which led to a speaking opportunity on the main stage. This experience solidified their belief in the power of asking for opportunities and delivering on them.
They advocate for investing in self-education and mentorship, highlighting how these investments can unlock shortcuts and accelerate growth. They describe their approach as finding "rhythm" in business, emphasizing that every endeavor has a beat and frequency. Their unique selling proposition lies in their ability to blend their entertainment background with business acumen, creating engaging experiences that foster genuine human connection.
Lee and Katherine have built teams, most notably for DCBX, a large-scale event that has involved up to 20 core staff members and thousands of attendees. They now see their collaborators and conference attendees as potential members of their extended "team." They believe in fostering an ecosystem of support and collaboration, where individuals can do deals together and share in success.
They encourage aspiring entrepreneurs to embrace collaboration, speak up, and ask questions. They stress the importance of authenticity and surrounding oneself with a supportive "tribe." Their philosophy centers on moving forward, leaning into the power of connection, and identifying one's core gifts and unique selling propositions. They believe that by understanding their essence, entrepreneurs can build a strong foundation and leverage it to create opportunities.
Lee and Katherine are not "gurus" but facilitators of connection and collaboration. They offer opportunities to join them on their journey through high-level events and their conference, Rhythm Investor, which aims to bring entrepreneurs together with successful individuals who are willing to share knowledge and foster mutually beneficial relationships. They emphasize that while the number of deals is important, the growth and steps taken are what truly matter.
Action Items
- Identify 3-5 core skills from past ventures (e.g., dance, event production) to leverage for new opportunities in real estate and investing.
- Develop a system for tracking 5-10 key network connections per quarter to foster reciprocal value and potential collaborations.
- Create a framework for evaluating potential business partners based on shared values and abundance mindset within 2 weeks.
- Audit existing event production processes to identify 3-5 areas for streamlining and risk mitigation, preventing future financial strain.
- Implement a structured approach to initiating conversations with high-net-worth individuals, aiming for 1-2 meaningful exchanges per networking event.
Key Quotes
"anyone that's an event producer you sign on the dotted line and you start negative 600 000 it's the dumbest business ever clearly my bets only on saturday brother i mean i'm just saying and we were like wait a second you're like we have access to all these people we have they're all millionaires billionaires so we we i got to get to the the this is like the climax of the this was my oh like my oh shit moment and i'm like let's tell them we have a keynote this keynote doesn't exist by the way and we just put a blurb and a little clip two days later they message us back and they're like how would you like 25 minutes on sunday on our main stage right after patrick ben david no way"
Lee Edward Smith highlights the significant financial risk inherent in event production, noting that producers often start with a substantial deficit. This quote illustrates their entrepreneurial boldness by revealing how they leveraged an existing opportunity by proposing a non-existent keynote, demonstrating a willingness to create opportunities rather than wait for them.
"we did bring in we had our world champion friends so we we kind of brought it all together but i was freaking out because i'm like holy crap now it's on and i think it's the greatest upsell like it was that's an amazing thing to happen but if you're not afraid if you you can't be afraid to ask but sometimes you're going to ask and then you're going to receive and then you have to deliver and -- so that was my oh crap moment"
Katherine Aguilar describes her "oh crap moment" after securing a keynote speaking slot at a conference, emphasizing the fear and pressure that came with it. Aguilar's statement underscores the importance of taking imperfect action and being prepared to deliver on opportunities, even when they arise unexpectedly.
"The point is is like if you stay in the game you may not be on the field but you just stay in close proximity good things are going to happen yeah and i mean it's a cliché saying and i always say this the most cliché things that we heard growing up it's always true you know your network is really your net worth it really is because if you guys weren't in sub2 which is pace's mastermind group correct he wouldn't have been able to vouch yeah that's just the way it goes"
Lee Edward Smith emphasizes the value of staying connected and involved, even if not directly participating in every opportunity. Smith's quote highlights the foundational principle that a strong network is crucial for success, as connections can lead to unexpected support and opportunities, such as vouching for someone's credibility.
"The other side you know because there's a lot of introverts too and i considered myself an introvert for a long time now i'm starting to she also says she's not a public speaker i'm both yeah yeah we have a lot of similarities actually but i'm very introverted so i could be a very introverted i could be extroverted but -- but on the introvert side like i can see people that are like you know even i can i can even see his family members like in my head being like well i'm never going to like go up to somebody in an elevator and talk to them right then collaborate with somebody because if you if you vibe with somebody it could be anybody from your it could be anybody from your circle your close friends if that person has a gift of gab and they can like do that make them your partner like collaborate with them"
Katherine Aguilar discusses the challenges introverts face in networking and collaboration, contrasting her own introverted tendencies with the potential for extroverted collaboration. Aguilar's reflection suggests that even introverts can find success by identifying and partnering with individuals who possess complementary communication skills, thereby amplifying their collective reach and impact.
"The other thing is is is the other thing people get hooked onto like their instagram name or their this like you can evolve like it didn't take me it took i i had to go through the steps so it's like if you don't like like try something and then pivot try just because you change your logo you're not going to lose all the people people get in they're in love with the person not with the freaking logo or the website or the this and people get hung up on that all the time as starting entrepreneurs personal brand yes personal brand is like oof i mean they it's like a cliché to say that but it's really that's really what it is like it is"
Lee Edward Smith emphasizes that personal connection and authenticity are more important than branding or logos for entrepreneurs. Smith's statement suggests that evolving and pivoting, even changing logos or platforms, will not alienate an audience if the core person and their value proposition remain consistent and genuine.
"The other side going back to the receiving is sometimes entrepreneurs need to be ready to receive also and that's the only thing that i think is a hindrance for a lot of people that are like i need to level up but you know i put myself on the way that was me like i was putting myself on the way we never i mean i we thought dcbx was going to be our legacy well i think it is a it is a piece of our legacy well we thought that that was the end of our legacy i should say like we were gonna do that forever this dance conference that gets thousands of people and we were going to be world renowned for that and we are but it wasn't the end like our chapter opened up after we started to think about kids and then surrounding ourselves with individuals that were like guys you guys have a lot more to give to simplify like imagine that gift that we got like that's why i'm such on a high still from this event because i'm like i want other people to feel that that gift to simplify we help entrepreneurs businesses startups find their rhythm and it's an open statement right but it's really everything has a beat everything has a frequency everything has a rhythm and it's interesting because some of these new deals that are coming to us -- they happened to do with we we have -- dabby which is headphones that are they're like 27 000 headphones but it's like we're finding deals that actually happen to do with with music and rhythm"
Katherine Aguilar discusses the importance of being receptive to opportunities and growth, reflecting on how their own journey evolved beyond their initial expectations. Aguilar highlights that personal growth and new ventures, like their involvement with high-end headphones and music-related deals, often stem from a willingness to embrace new possibilities beyond one's original vision.
Resources
External Resources
Books
- "Blue to Digital Gold - The New American Dream" by Paul Alex - Mentioned as a free book offer.
Articles & Papers
- "Learn more about your ad choices" (megaphone.fm) - Mentioned in relation to ad disclosures.
Tools & Software
- PipeDrive - Mentioned as a CRM tool for small to medium businesses that helps organize sales processes and customer information.
- ChatGPT - Mentioned as a tool that can be leveraged for bringing people power at a low cost.
People
- Lee Edward Smith - Co-founder of DCBX, Rhythm Investor, and a networker in real estate.
- Katherine Aguilar - Co-founder of DCBX, Rhythm Investor, and a networker in real estate.
- Paul Alex - Host of The Level Up Podcast and author of "Blue to Digital Gold - The New American Dream."
- Paul Hudson - Mentioned as hosting a charity event in Miami for the "Sound of Freedom" movie.
- Patrick Van David - Mentioned as speaking on a main stage after Lee and Katherine.
- Pace Morby - Mentioned as a master networker and part of a mastermind group called "Sub Two's."
- Kobe Sperber - Owner of an event where Pace Morby spoke.
- Julio Gonzalez - Mentioned as helping businesses with grants.
- Lori - Mentioned as someone accomplished in doing deals globally who was touched by the genuineness of an event.
- Dr. Vishwa - Mentioned as the "Capitalist of the Year of India."
- Shoot - Mentioned as a contact from a family office with a large portfolio, with whom a relationship started in an elevator.
- Sartaj - Mentioned as a contact from a family office with a large portfolio.
- Randy - Mentioned as a senior events manager who has been with the team for 16 years.
- Sandra - Mentioned as a senior events manager who has been with the team for nine years.
- Len - Mentioned as having worked for Beats and now involved with Dabbi headphones.
Organizations & Institutions
- DCBX (Duke Connect the Experience) - An organization founded by Lee Edward Smith and Katherine Aguilar, known for hosting large Latin dance festivals and events.
- Rhythm Investor - An organization founded by Lee Edward Smith and Katherine Aguilar, focused on wealth and business.
- Liberty Mutual - Mentioned in a commercial about customizing car insurance.
- George Mason University - University attended by Lee and Katherine.
- Columbia - Mentioned in relation to engineered clothing for various weather conditions.
- Sub Two's - A mastermind group associated with Pace Morby.
- IHG Family Office - A family office mentioned in relation to a business connection.
- Dabbi - A company that produces high-end headphones.
- World Cup - Mentioned in relation to upcoming business opportunities.
Websites & Online Resources
- www.CashSwipe.com - Mentioned as one of Paul Alex's companies for secondary income or entrepreneurship.
- www.officialPaulAlex.com - Mentioned for accessing a free copy of Paul Alex's book.
- https://jo.my/paulalex2024 - Paul Alex's Instagram link.
- https://jo.my/fbpaulalex2024 - Paul Alex's Facebook link.
- https://www.youtube.com/channel/UCNB9ivoJf7ppjuSplOAkEZw - Paul Alex's YouTube channel link.
- https://jo.my/inpaulalex2024 - Paul Alex's LinkedIn link.
- libertymutual.com - Mentioned in relation to car insurance.
- pipedrive.com/level up - Mentioned for a 30-day free trial of PipeDrive.
- rhythm investor.com - Website for Rhythm Investor.
Other Resources
- Latin dance festivals - A core part of the business built by Lee and Katherine.
- Commercial real estate - An industry Lee and Katherine have entered.
- Investor conferences - Events organized by Lee and Katherine.
- Keynote speeches - A speaking engagement Lee and Katherine had.
- Sales process - A struggle for entrepreneurs that PipeDrive aims to solve.
- Visual sales pipeline - A feature of PipeDrive.
- Salsa magic - A show started by Lee in 2002.
- College Lipsync Battle - A virtual show that became highly successful.
- Greengito sauce - A hot sauce brand started by Lee and Katherine.
- Wholesale - An industry considered by Lee and Katherine.
- Fixing and flipping - A real estate strategy considered by Lee and Katherine.
- Private equity - An area Lee and Katherine are involved in.
- Family offices - Entities Lee and Katherine work with.
- Sovereign wealth funds - Entities Lee and Katherine work with.
- Formula One - An event attended by Lee and Katherine for networking.
- Art Basel - An event attended by Lee and Katherine for networking.
- Davos - An event attended by Lee and Katherine for networking.
- Elevator pitch - A concept highlighted by an interaction in an elevator.
- Digital marketing - An area of expertise of Lee and Katherine's mentor.
- E-learning space - An area of interest for entrepreneurs.
- Masterminding - A concept related to mentorship and group learning.
- Personal brand - Emphasized as crucial for entrepreneurs.
- The Sound of Freedom movie - A charity event related to this movie was mentioned.
- Billionaire moments - A concept discussed in relation to achieving significant milestones.
- Grants - Mentioned as a source of funding for businesses.
- SPV (Special Purpose Vehicle) - Mentioned in the context of finding investors.
- The Ritz - Mentioned as a location for networking.
- Country club - Mentioned as a location for networking.
- Private club - Mentioned as a location for networking.
- Cigar lounge - Mentioned as a location for networking.
- Golf courses - Mentioned as locations where deals get done.
- Beats - A brand Len worked for.
- Bugatti - Used as a metaphor for the high-end nature of Dabbi headphones.
- Music and rhythm - Themes connected to Lee and Katherine's current ventures.