In this episode, Stacy sits down with “Digital Currency Guy” Jamar James, who is a cryptocurrency trading business educator and coach, as well as a veteran of the US Marine Corps where he specialized in IT. The two discuss how technology and cryptocurrency are changing the future of business.
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Transcript For This Episode:
Stacy Jones (00:01):
Welcome to Marketing Mistakes and How to Avoid Them. I’m [Stacy 00:00:04] Jones, the founder of Influencer Marketing and Branded Content Agency Hollywood Branded. This podcast provides brand marketers a learning platform for topics for us to share their insights and knowledge on topics which make a direct impact on your business today. While it is impossible to be well versed on every topic and strategy that can improve bottom line results, my goal is to help you avoid making costly mistakes of time, energy, or money, whether you are doing a DIY approach or hiring an expert to help. Let’s begin today’s discussion.
Speaker 2 (00:31):
Welcome to Marketing Mistakes And How To Avoid Them. Here’s your host, Stacy Jones.
Stacy Jones (00:36):
Welcome to Marketing Mistakes and How to Avoid Them. I’m Stacy Jones. I’m so happy to be here with you all today. And I want to give a very warm welcome to Jamar James. Jamar is a cryptocurrency trading business educator and coach and veteran of the U.S. Marine Corps, where he specialized in IT. He began his entrepreneurial journey as a real estate broker in Arizona, where he built his brokerage to over 200 realtors until the market crash of 2009. Returning to the world of IT and blockchain, Jamar developed a passion for day trading in cryptocurrency and through sharing his wins with others, developed a consultancy focused on business growth, automation and cryptocurrency focused on helping other business owners change their lives. Today, we’re going to dive into the conversation of technology and cryptocurrency and blockchain and how it’s changed the game for so many people and how it is impacting the future landscape of business. We’ll learn what’s worked from Jamar’s perspective, what should be avoided and for some, how they missed the mark. Jamar, welcome. So happy to have you here.
Jamar James (01:40):
Thank you. Thank you. That was beautiful. And I thank you for the introduction and I’m so happy to be able to share today.
Stacy Jones (01:44):
That’s good. Well, what I’d love to do, I know I touched a little bit on your background, but can you tell us how you got to here? What got you to this day of cryptocurrency experts?
Jamar James (01:57):
Well, long, long, long ago, actually I grew up in the San Francisco in the Bay Area and it’s really a… Growing up, having parents growing up in the middle-class home with laborers, my mom was a post office person and my dad was a trucker and I was… go to school in San Francisco. And so every morning I would see these day traders or financial guys going into the financial district in San Francisco. And I thought like, “That’s cool, I wonder what they do and why they’re so happy.” Six o’clock in the morning, seven o’clock and they happy seeing them high fiving, or they had laptops.
Jamar James (02:36):
And it looked very busy and I wasn’t exposed to the environment, the financial markets. And so, knowing that I wanted more out of life, I joined the Marine Corps out of high school and that and the Marine Corps, and I realized the world was a lot bigger than the Bay Area and that gave me kind of a worldview of for one, the different currencies I was exposed to living in Japan, living in Korea, different countries. I realized that everyone was kind of siloed in. People were pretty much what they were supposed to, is what they know. And as you get more exposure globally, it looks… Things becomes bigger.
Jamar James (03:23):
You become more exposed. And so during the Marine Corps I always wanted to invest whether it was in the stock market or real estate. During my time in the Marine Corps, I started buying real estate in Long Beach and I was buying… it was just the acceptance. In the Marine Corps we taught like, “Hey, someone has to go first”. And there’s a reward. And sometime there’s a huge risk, but if you want the reward, you go first. And so when they were doing a lot of condo conversions in Long Beach, I started buying small apartments that were converting into condos.
Jamar James (03:57):
And I bought so many. I bought maybe three or four. Four that were like $30,000 a piece. And when I got out of the Marine Corps in 1998, the ones I bought in 1994 or ’95, they were worth about, for $30,000, I think they were worth $120,000, $130,000. So I made more on those investments than I did by the time I was in the Marine Corps. And from there, my background in the Marine Corps was IT and this… Back then, I was in something called… I was managing the automated transmission system, which in the military, that was really just like the internet. Then you said, [crosstalk 00:04:36] you’ve had a fancy name for it. Right? And so I actually went to [Lumby 00:04:41] State and DeVry, got into technology and, I started a web design company, got into CRMs and I was in technology, but I was always investing.
Jamar James (04:53):
So I started buying stocks, got a mentor, taught me how to trade. And I started selling the properties. I went into Arizona and when the market crashed in 2009, I left Long Beach, took the money that I made selling the condos, went to Arizona. I was really good with the marketing because I had the technology background just because I was… know how to use the web. I was able to generate so many leads that I ended up starting a real estate company. And within a year or two at about two years, I had about… The first year I had 60 agents. And the second year had about 200 agents. And they were all coming because I just had so many leads. We kind of dominated the market. And that led me to… I had trading and I had real estate. Everything was going well.
Jamar James (05:39):
And then the housing bubble burst, and that was around 2008, 2009. Luckily, I was leveraged pretty well, but after that, that kind of just, it scared me to the point where it’s like, “What else can I do now?” And my mentor said, “Hey, tell me, it’s like, get out of real estate and just buy stocks. Like get into the stock market.” Well, I started buying, I started selling all my property. I bought into the stock more in 2009, which was really just timing. Right. I bought at the right time. I bought a ton of stocks and within eight months, I had almost doubled my money when everyone else was having going through a financial crisis. And, I was like, “Man, this was easy. I didn’t do anything. I just put money into the stock market.”
Jamar James (06:26):
And it kind of recovered. And then I realized without the employees, without the office expenses, trading was recession proof, whether it goes up or down, that you can short the market or long the market. And so from that point on, I still had a kind of that marketing company. I moved back to Orange County, left Arizona, became a trader with a company. And I just realized my time was better off is in the markets. And so, I had a CRM business. I had clients like [Allergan 00:06:58] and Best Buy, and I hired virtual assistants to help me because all we were doing was digital marketing and managing marketing campaigns. So, you really didn’t have to be there. And then I was like, “If people knew that you can make money in the markets, if business owners knew that you can automate a lot of things and have virtual workers, kind of support that,” if you’re sending an email, you [inaudible 00:07:21] someone skilled to do it.
Jamar James (07:21):
It doesn’t matter where they’re at. And so that gave me the freedom to actually do more stock trading and day trading. And then 2015, I was working with a prop firm hedge fund and I seen a lot of the traders start moving over to crypto. They were buying it and they were like, I was like, “Well, what is this virtual money?” And she [inaudible 00:07:42] of wealth and that got into crypto. And then the idea that [inaudible 00:07:46] and the internet, how it impacted the world. And then I seen the blockchain and I was like, “No, this is technology. Technology moves so fast.” So like I said, if you want to be first, sometime there’s risk, but then there’s also reward. And so I jumped into cryptocurrency in 2015 and in the beginning of 2016, at that time, bitcoin was $300.
Jamar James (08:10):
And a year later the same bitcoin I bought for $300 was $20,000. So, that allowed me to say that the demand was there for that one year. And then technology has changed so much during that time that I built a business with the ideas of cryptocurrency, which the ideal is about peer-to-peer, about being transparent, about community. And that is to me, how businesses should operate in 2020, transparent, authentic, peer to peer, cut out the middleman. That is the whole idea of cryptocurrency, is to avoid being a victim of the economy and the banks crashing. And that’s 2009 is when bitcoin actually started. It started as a result of the housing bubble. They wanted an alternative to the dollar and to the credit crisis and housing bubble. So, 2015, I kind of branded myself as the Digital Currency Guy.
Jamar James (09:15):
I was on Facebook and one of the guys, he was teaching people how to trade. And he was like, “Hey, I’m getting people into training, but I really don’t know how to trade.” And so when he asked me that and I was like, “Oh, well, you have to get a separate group because I don’t want to deal with people that don’t know anything.” And so he would actually send people over to me that they were in trading, but they wanted more. And then, one weekend I just made an offer on Facebook, “Hey, we’re starting a new group. And I’m teaching people how to make money with cryptocurrency. Do you guys want in? It’s a hundred bucks a month.” And that weekend I had 120 people off of my Facebook group join the group. And then I was like, “Now I was like, oh, I have a business now.”
Jamar James (09:54):
It wasn’t something that I initially planned out or thought about. It was just people were all interested into trading and that is the whole spirit of cryptocurrency and communities is, now in 2020, you don’t… The way you market that business and the way you attract people to your business, there’s a lot of distractions. So being authentic and being, who you are is really the staple of business now. And you see different corporate brands trying to be more authentic. You see on Super Bowl Sunday, they had a Facebook groups. They want to say, “Hey, we’re one of you.” And you have, you can attract tribes now.
Stacy Jones (10:36):
That’s fantastic. You have had quite the journey.
Jamar James (10:40):
Yeah. I mean, it’s just taking that first step to go forward and embrace what’s coming instead of, some people expand and some people contract and during a time of crisis it’s an awesome time to be able to expand.
Stacy Jones (11:00):
Well, you obviously, with your IT background, you already have a mind that is very technical based. You were very driven to where you see things that can scale very easily. So you have a different outlook than probably 50% of the people who are out in the world, the creative, not necessarily all on the tech, but it’s something you’re able to bridge the gap and you’re able to actually see trends and ways to make them [inaudible 00:11:26] and repeat that.
Jamar James (11:27):
Right. I mean, I think everyone has it. I think they just haven’t been exposed to it.
Stacy Jones (11:33):
There you go.
Jamar James (11:33):
Stacy Jones (11:35):
So how can businesses and how should businesses be looking at cryptocurrency right now? Because it’s a landscape and when you say cryptocurrency to most people, they’re like, “Yeah, bitcoin.” They know that word.
Jamar James (11:50):
Stacy Jones (11:51):
But they don’t necessarily know much more about it than that.
Jamar James (11:55):
So, and that’s an awesome point. The reason that I get interviewed or people reach out is because they don’t know. And so for business, we talk about decentralized finance, are you talking about these keywords that are blockchain related and the persons do not know. Well in a sales environment, whoever has the most of my information and educates their customers, will become an authority. And so for business owners that are in business for when there is a way to protect some of your assets through cryptocurrency. So, that’s about getting educated. As a business owner, you want to have education about how to… Well, what is my contingency plan? What happens if the economy shuts down? What happens if I have to close my storefront. How do I adjust?
Jamar James (12:48):
And so looking at cryptocurrency that is actually an option. But then when it comes to decentralized finance where your banks are in a zero interest rate, and there’s an asset over here that’s making 4-5% a month in stable coins, and they say, “Well, what are stable coins?” So it’s really the embracing of the knowledge, the education for your owners, because the blockchain is going to impact every business out there. The same way that the internet has impacted business, before the internet, before mobile phones, the way we communicated was different. Print, mail, radio advertising, all of that has changed because of the internet. And now you have blockchain, the new technology, which, cryptocurrency is an asset that runs over the blockchain technology, but a business owner should think like, “Well, I need to talk to someone. How is the blockchain going to impact my business?”
Jamar James (13:44):
And for each business, it becomes a different use case. And then once they say, “Okay, this is where it’s going, and I should embrace it.” So like for restaurants, they should’ve already embraced the delivery model. The, “Hey, we’ll take it to you or we’ll have a custom kit that we can send to you to build your food.” In this way when this had happened, where we have a pandemic, they would of had a contingency plan. What happens if we can’t have people come sit in our restaurant and it’s just that ideal of thinking. And so same thing with the money, right? What happens if the banking goes down and we’re a business, what alternative we have to accept payments? Do we have the… Whether it’s… It doesn’t have to be crypto, but do we have a way to accept payment?
Jamar James (14:32):
Do we have a way to credit our customers? If they’re not able to pay, should… what model should that be? So the contingency plans that each business should have should be something that they look at crypto as a contingency. What happens when a person, a foreigner comes in and they want to pay in crypto. Is that a new… Is it worth investing that, hey, I want to be able to sell crypto. I want to be able to say, “Hey, we accept all forms of payment, whether it’s cash, credit card or crypto.”
Stacy Jones (15:06):
So couple of things there for our listeners, some people listening may totally know what blockchain [inaudible 00:15:13] can you [inaudible 00:15:13] some people may not. Can you give us just kind of an insight on how you see blockchain. What blockchain is and how it impacts companies?
Jamar James (15:21):
Okay. So let’s talk about something that you know, the internet, right? So internet is technology. Technology, and then when I ask someone who owns the internet, right, and that person will tell me, “Well, the internet is everywhere. No one really owns the internet. It’s everywhere. And it’s a technology that we use to communicate. Once ever here, once over here, communicates with each other. Well, to put it in layman’s terms, the internet is technology to connect to different computers. The blockchain are basically databases that store’s information and information is everywhere, but it has a private key. So you can’t get access to the information, even though it’s everywhere, unless you have a private key. So the blockchain wallets are on the blockchain. So from one wallet to the next wallet on bitcoin, you send bitcoin from one wallet to the next wallet on the blockchain.
Jamar James (16:16):
And it goes from one database to the next database. And they’re all synced. So every transaction on the blockchain is kept in this one big database that is everywhere. No one owns it. And so that is the equivalent of when we talk about the blockchain technology, we’re really talking about the blockchain as a database for storing information that’s available to everyone, whoever has the private key, right? And there’s this… This is a way to store information. So in the future maybe your medical records are kept on a blockchain and you have ownership. And so when you go to a different hospital, it doesn’t have to be a general doctor. It can be any doctor, and then you give them your records. And you say, “Hey, here’s my private key. All my information for my medical history is here on a blockchain. Here, you can have access to it.”
Jamar James (17:03):
Now this person owns his own data and he can give someone else the access. So for instance, UC Irvine, they’re keeping their grades for their students. And every test that the student takes is on the blockchain now. So now that student, when they says, “Hey, well, how was your experience at UCI? And where’s your transcripts?” The kid can be like, “Oh, here’s my phone. Let me just give you access. And I’ll transfer you every test, every homework, everything I ever done at UCI.” And now you have it because it is all stored in the blockchain.
Stacy Jones (17:35):
That’s great. And so pretty much any sort of data that’s related to anything personally or business-wise can be stored now on the blockchain and accessed and given out when you want it to be given out.
Jamar James (17:48):
Right. 100%. That is the idea of the blockchain.
Stacy Jones (17:52):
I will say that I talked to a few people about blockchain and you have just made it easier to understand than most people. So thank you.
Jamar James (18:00):
Oh, you’re welcome. And that’s the thing that business owners need to hear it as a… We can get really technical or they need to hear it as something that they can relate to. And this demystifies all the tech talk.
Stacy Jones (18:12):
And that helps quite a bit.
Jamar James (18:15):
Stacy Jones (18:17):
So with cryptocurrency, and you were just saying earlier if you’re a business and you want to be able to take cash or credit or checks or wire transfers or crypto, how does the business go about that? Contact their banker and say, “Hey, I’d like to start taking crypto.” It’s a whole different strategy in fundamentals for setting that up. It’s very different from our traditional banking system.
Jamar James (18:41):
It is actually easier because you’re traditionally, we’ve always had a third party, right? And this is the exact time that we’re in right now is we’re starting to realize that the third party has been the obstacle, has been the thing that’s stopping us from being free. And so right now, if a owner actually had a wallet, there’s nothing stopping him from saying, “Hey, here’s my barcode. Just send the money here.” And then now that customer has to confirm with him, instead of having to confirm with the banking, why does a wire take three days? Or why does the wire take overnight when you can send an email right away, or we can hop on a Zoom and talk right away. So, the only reason it takes a day or two days or three days is because there’s a middle person involved. It’s getting a fee that is actually being in the middle of that transaction. Now, if you eliminate that person, everything happens instantly.
Jamar James (19:36):
So, for a owner, you have a blockchain wallet and you say, “Hey, here’s my wallet and my store. Send it to me.” I confirm it’s there and we just cut out the middle man with less fees. So-
Stacy Jones (19:49):
[crosstalk 00:19:49] Go ahead.
Jamar James (19:51):
So, that is how simple it is. Now, for accounting purposes you want to know what product that you just received this payment for and you want to see how many times this customer has sent it. And so that’s why you have a system for a business owner to put in place so you can keep your tracking of accounting, but if you really wanted it to accept something right away, I can have you download a wallet and I can send you money right now. And it will be peer-to-peer.
Stacy Jones (20:17):
Do you think this opens yourself up to more or less fraud? So as an example, there’s a lot of email spoofs that happen. Our own agency was taken for a lot of money. Our former bookkeeper fell for a massive scam where someone asked her to send money and wire it to China. She did it. She went over through all these different things that we thought we had protections in place. And she went to the bank and the bank did it, the other bank got it. Then the bank released the funds. Do you think blockchain actually would protect you better here? Or does it lead you even more so that their money goes and money’s gone?
Jamar James (21:00):
Right. So you said [inaudible 00:21:03] the human aspect of it, that’s the part where the fraud happens, not on the technology side. On crypto, the technology side is, you can’t penetrate that. The fraud transactions do not exist on a technology side. They exist with the humans. So, this is still a procedure in a human process. The human thing, if the human sends it to the wrong place or is scanned by another human, then that is a human problem. It’s not a blockchain problem. It’s not a bitcoin problem. That is a person that sent a transaction and that transaction is vital.
Jamar James (21:41):
The thing with the banking is people have been sheltered, right? Where it’s like, “Oh, we make a mistake. We call Wells Fargo and they help us fix it.” Or, “We make a mistake and someone gets access to our account. We can call Visa and say it wasn’t ours.” And they have insurance. For crypto it is, we’re responsible for the human side of it. So if you send to a wrong address, or if you give someone your private keys, then you’ve allowed the exposure to happen and you can’t call Visa. You can’t call Wells Fargo. This is something that you are responsible for. And I think that scares people. It shouldn’t scare a business owner, but it scares people.
Stacy Jones (22:23):
Well, just so that people know, even if you call your Citibank bank, they can’t help you either. So, there is that.
Jamar James (22:30):
The false sense of security but they get a fee. Right, [crosstalk 00:22:33] There’s a lot of scandals with Zelle and people don’t talk about it because it’s like, what options do they have? Because they don’t think they have other options.
Stacy Jones (22:43):
So, also we’re looking at the Paycheck Payroll Protection that’s going on right now with the federal government, if this was actually on blockchain, if this was something that was better orchestrated, they could have potentially made this cleaner with all the banks that they were working with versus-
Jamar James (23:00):
Stacy Jones (23:00):
Jamar James (23:03):
So, they wanted to bill, they have a digital dollar project right now. And one of the things that they wanted to do with stimulus was say, “Hey, everyone download a digital wallet and we’ll just send it to you through the blockchain. We’ll know that you downloaded this wallet and we should put the money there and you will have it overnight.” So the banking went down two days ago. No one was able to log into their bank accounts. They say that it was because of a high usage. And it’s kind of archaic to think that you have Facebook, you have Instagram, Twitter, but the banking can’t handle people logging in to check in for their bank account. So, yeah. So if we’re going to a digital society and I know that this is about marketing, so I want to talk to you. [crosstalk 00:23:45] We’re good.
Stacy Jones (23:46):
It’s all for businesses, business owners, entrepreneurs.
Jamar James (23:49):
So yeah, for the business owners we are going to a digital currency society, where everything is going to be electronic payments. And so, yeah, the digital wallets would have made everything… Everyone would have their funds right away. They would push the button. The currency goes out directly, instantly, and we wouldn’t have the banking’s. The banks could close out overnight and they can use some of those funds to invest. Right. And now they’re making interest on that money. So they don’t really have a sense of urgency to get the monies to the business owner or to get the money to the individuals, because the longer they keep it, the more money they have and the more that their interest accounts make money.
Stacy Jones (24:32):
Right. And once you have, when you have billions of dollars sitting there, you’re making some fat interest on that.
Jamar James (24:37):
Fat interest, right? Overnight. So,
Stacy Jones (24:43):
So what would the steps be? So business owners listen to this and they’re like, you know what, I want to look at cryptocurrency. How do I go about and actually set up that wallet? How do I start letting my people know, my clients know [inaudible 00:24:58], know that I’d like to start paying with cryptocurrency and go down [crosstalk 00:25:03] that route. What would the steps be?
Jamar James (25:03):
So, I mean, if they’re not educated at first, I say they need to come into a course or get educated. And for me, so I’ll give you a use case example. I had a general contractor out in Newport Colts and he says, “Hey, he’s working with me. And he’s like, ‘Hey, I want to be able to accept crypto. I have this client here, he owes me 300,000. Tell him I’ll take 280 if he gives me 280 in bitcoin.'” So, I actually went to his client, the homeowner, told him that, “Hey, you can save 20,000 if you are able to pay him in bitcoin.” And he was like, “Well, of course, [crosstalk 00:25:50] how do I get?”
Jamar James (25:48):
And it was just that easy as informing them that, “Hey, you just take your money, your cash convert it over to go to a MSB, a money exchange, tell him that, ‘Hey, I want to take 280,000. I want 280,000 worth of bitcoin.'” And now he sent them an invoice. He accepted the bitcoin. He sent it to him and now they’re both happy. And so it’s really… It’s just the first part is just start, go to coinbase.com, download a wallet and have your wife or relative download a wallet and just send them $5. Just do it, just start and do $5. And then when you’re a business and you want to have something custom for you, call a consultant. It’s a hundred bucks for them to educate you because you don’t know what you don’t know until you’re educated.
Jamar James (26:45):
And that is the first steps for everything is just to get the information first. And it’s just the desire, the intention that, “Hey, I want to know how to do it.” And I’m telling you right now, it’s that easy. It’s just downloading that Coinbase Wallet and start. And then once you have a Coinbase Wallet you’re able to accept and buy bitcoin. Then he says, “Hey, you know what? I want to be able to track the inventory now.” And now it’s like, all right, well, I’m going to call a merchant like BigPay and I’m going to be able to install a BigPay terminal. Now I can send invoices and accept bitcoin. And so it’s no different to having a regular merchant account. Now you’re just accepting… You have one for Visa and MasterCard. Now you have one for bitcoin.
Stacy Jones (27:23):
And when you’re using these other merchants, it’s like a merchant account. So you’re using these other services. Are they taking a percentage of the dollars that are being exchanged? Or how are your contractor who you said who the homeowner paid $290,000. Was there a percentage of that on top of what he paid or was it a percentage of that taken away from what he paid? How does that work?
Jamar James (27:52):
So he had to pay the exchange fee. So for him to exchange from dollars to bitcoin, there was a fee that was an exchange fee that the exchange, the person has say, we’ll give you that bitcoin, but we’re going to charge you to do this transaction. And so it was a 2% fee which is still a hefty fee to transfer from VIAT, which is dollars to bitcoin. But it’s something that was paid for the exchange. So anywhere you go in the world and you’re exchanging currency, that’s why you have currency change offices and locations. There’s always an exchange fee. So it’s no different than transferring dollars to yen, or dollars to pesos. There’s going to be an exchange fee. But the transaction itself is small. You can send a million dollars for a $1, $2. And that goes to the network. It doesn’t go to an individual. It goes throughout the entire blockchain network. And then they split that up. And that’s how they produce the data money. And that’s a whole different subject, but that small fee is really, I mean, a million dollar transaction costs you maybe $1 or $2 dollars.
Stacy Jones (29:07):
Wow. That’s amazing. So it’s really much the same as you take American Express cards and they have a 3% interest. You take MasterCard, they have a 2 1/4% interest. And you, as the business owner are going to eat those fees because it’s made the transaction so much easier for you.
Jamar James (29:27):
Right. Or it’s just convenience. And really you’re not [inaudible 00:29:31] any fees because there’s no Visa or MasterCard there. There’s only a fee when you want to take the bitcoin and go get cash now.
Stacy Jones (29:37):
Jamar James (29:38):
Stacy Jones (29:39):
Only when you’re turning it when you’re changing it.
Jamar James (29:41):
When you’re changing it. Right.
Stacy Jones (29:42):
Okay. And then there’s not going to be a fee if you manage to not change it, where you go on and continue this payment where you have your bitcoin and you could pay others with that as well if there’s other businesses out taking bitcoin money.
Jamar James (29:58):
Right. And so, normally, I advise the businesses how to manage. So you don’t want to keep it in bitcoin because bitcoin is volatile. So then you want to move it to a stable coin. You move it to a stable coin, now you can actually earn interest on the money that you have just sitting there in the virtual currency. So, those are the kind of the strategies and the techniques that business owners can actually benefit from. They accepted in bitcoin, converted it over to a stable coin. Now they’re getting 5% or 6% interest on that money.
Stacy Jones (30:26):
And now these are, [crosstalk 00:30:29] and now these are things that you teach?
Jamar James (30:31):
These are things that I teach.
Stacy Jones (30:32):
Yeah. So you we’re getting to that part. I thought this is a good time to talk about that. Because people were like, “Wait, I want to learn more.” So how can people learn more? How can people find you and learn more and get some of this really easy to understand knowledge that you’re sharing?
Jamar James (30:47):
Right. So Digital Currency Guy is the brand that I have. You search Digital Currency Guy, I come up. My name is Jamar James. You can go to jamarjames.com. And it’s really a simple way. You fill out a form online. It has a contact me and schedule, and then we just have a conversation. Free to talk.
Stacy Jones (31:09):
That’s easy enough. Look at that. This podcast is for your listening, you, free to talk, and they just reach out to you.
Jamar James (31:15):
Reach out to me.
Stacy Jones (31:17):
That’s awesome. What are, and I would… I think we could continue talking for another hour, but what are some other, top of mind thoughts that business owners should be aware of in the cryptocurrency space?
Jamar James (31:33):
I mean, top of mind, I mean, for me, I just went into a business owners, the ideal of cryptocurrency and how business is changing. It’s something that they should embrace because right now being on a shelter in place and not being able to operate as they have been in the past, there’s going to be a… There was a precorona time and there’s going to be a postcorona time and going in the future after everyone comes through this time, because this shall pass, and going into the future, it’s like, let’s set up the business to be able to adapt. This actually builds your tribe so you can actually talk to your customers. And so you don’t lose your customers when you shut down for a month or two. You have a way to communicate with them.
Jamar James (32:17):
So, one of the big things with cryptocurrency is about community. And I think every business should have his own brand and community and tribe. So you have a loyal customers and this is the tech coming out of me. Because I’ve built CRM systems, which is customer relationship management systems. The CRM system, your business should be ran that way, where once you do a transaction with a person, now it becomes a peer-to-peer from the person to the business. In a business you think that they’re peer-to-peer. It shouldn’t be just a business transaction. It should be a business relationship now. And so during these tough times, when, I mean, I have Facebook groups with 26,000 people, 26,000 traders. I have other groups, business groups with over a thousand people as a mastermind. So these become my tribe and we all support each other as a business.
Jamar James (33:14):
And so when you see business analysis and say, “Hey, I’m community based and community based.” Well, after this is done, really become community based. And so you’re really embedded into the business because when this happened, my business didn’t stop. It actually expanded because now they’re like, “Well, he’s been operating remotely. He’s been teaching them about cryptocurrency alternatives and now we need it.” And now since I had a community based model, it actually… my business expanded when times get tough. Either people go apart or they come together. And so this should be a lesson to business owners to establish that where, “Hey, I’m building my tribe and I’m building my community.” So this way, when things get tough and they want to support a restaurant, they’re going to come support this restaurant because I’ve done things to support the community.
Jamar James (34:07):
And now you have a real togetherness and that is crypto. So the more people are educated about cryptocurrency, the more valuable my currency becomes because I’m holding a lot of cryptocurrency. So if I can just give it away and, “Hey, I’m going to give you the knowledge and let you adapt it and expand it,” it makes what I’m holding become more valuable. So this is one of the ways to build wealth is to give. I give all my knowledge and help other people embrace this and have a way that it makes my brand and it makes the currency that I’m holding more valuable.
Stacy Jones (34:42):
Yeah. And it’s such a switch and we’ve been releasing this, I could say a lot there, but I’d say in the last five years or so, where companies and businesses and the whole advent of coaches, this is where it’s become so valuable where people are understanding that you can give away knowledge, you can teach, you can give it all away. But the flip side of that is you’re building yourself as an expert leader. You are now… you’re a thought leader, you’re trusted, you are someone who people want to actually come to you for counsel. And the reality is, is no one has the bandwidth to do it all themselves, right? Just… or the brains necessarily, or the interest to do it all themselves. So by building that thought leadership, you are going to actually expand and gain customers and continue to be able to grow because of that.
Jamar James (35:34):
Right. And that’s a 100% in. And I even say, give, I say circulate, because the energy that you circulate and you put out, it comes back. And so we are always circulating. You’re circulating money, you’re circling energy, circulating positivity, and it comes back. And so I think for the business owners out there, if they can take one thing from this about cryptocurrency, is that, embrace what’s new and then basically give it a chance and give your customers more of what you have.
Stacy Jones (36:07):
Perfect. Well, today was a phenomenal conversation. So thank you.
Jamar James (36:11):
Stacy Jones (36:12):
I really, really enjoyed chatting with you. You are a very good explainer.
Jamar James (36:16):
Thank you. Thank you. It was very… Very happy to be here and just share what I have.
Stacy Jones (36:22):
Yeah, well again, thank you. And to all of our listeners, thank you for tuning into Marketing Mistakes and How to Avoid Them Today. I look forward to chatting with you on our next podcast and until then, stay safe.
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