I first realized this overlooked opportunity while interviewing the e-commerce billionaire Brian Lee.
Brian Lee is the founder and advisor to billion dollar companies. He founded or helped found LegalZoom, The Honest Company, and ShoeDazzle with Kim Kardashian. He was also the first investor in the discount app Honey, which later sold to PayPal for $4 billion dollars.
All of these businesses followed a similar formula… and it’s the same formula that’s the best opportunity in the world right now for new and experienced entrepreneurs alike.
But the secret I’m sharing with you today is most accurately reflected in the brand Art of Sport which Brian co-founded with NBA legend Kobe Bryant. They sell men’s care products.
You see, most entrepreneurs try to do everything themselves. They try to:
… build up the audience
… create all the content
… come up with the product ideas
But very few people sit as an owner, and bring in the most important pieces together.
The most important piece in any successful business is traffic. And the best type of traffic you can get is what Gary V. refers to as “under-priced attention”.
Right now there’s one source of attention that is so under-priced that if you get ahold of it, you can build an entire business around it… even if you only do it half right.
That source of under-priced attention is working with other people’s audiences.
And that’s exactly what’s going on with Art of Sport right now.
Consider this quote from a Forbes interview with Art of Sport’s current CEO, Matthias Metternich: