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A chessboard can teach you a lot about building a business. I talk with entrepreneur and Branded Riches author Neryk Davydov about how chess shaped his approach to sales, branding, money management, customer relationships, and business growth. Neryk shares lessons from selling as a teenager, building a distribution business, creating private-label brands, and developing multiple streams of income. We also explore financial freedom, passive income, customer trust, time management, and knowing when to act fast or study your next move. Neryk believes strong businesses come from understanding people, managing what you already have, and staying ready for the opportunities in front of you.
Highlights:
01:57 – Discover how Neryk’s early sales experiences began shaping his business mindset.
08:18 – Explore how chess influences the way Neryk approaches decisions and opportunities.
15:57 – Learn a simple system for managing money and building stronger financial habits.
30:30 – Hear how spotting the right opportunity can lead to creating a new product.
38:01 – Discover why understanding the customer matters before trying to make the sale.
48:38 – Explore why money management should begin long before you feel wealthy.
About the Guest:
Neryk Davydov brings more than 20 years of Marketing, Branding, and Sales experience from a variety of companies like Distributors, Wholesaler, and Retailers. His entrepreneur life has helped 3 other companies to become millionaires before he started his own company because of loyalty. He has grown a company from having 3 reps into 10 reps and causing the company to expand in different territories.
Neryk has always been the #1 company income earner and always gave new ideas and product lines to introduce to his company which would quadruple in sales and earned lots of profits for the company.
In 2006, Neryk finally opened his own successful company and from that point it was history. The big success started coming when Neryk has invested in his own personal growth and development education learning from Millionaire all the secrets about sales, marketing and branding. One can become rich is when you create your own brand and sell it by the bunches, then you will earn a passive or business income through other people’s efforts instead just yourself. Along the way he also started to do Joint Ventures with big companies and CEO’s and started to create his own brands and products which went on to become a huge success. He has helped other leading bigger companies to learn lots of skills on branding, and marketing ideas from his products.
Neryk has an amazing, passionate, loving wife, Kelly Davydov and two kids Tova and Avichai which was an inspiration to write this book to show that anybody can do anything they want in life when they have their mindset.
Now Neryk focus his time on giving back to other Entrepreneur and sharing the secrets to success through helping them Brand their products or themselves from offline marketing to online marketing to see more entrepreneur succeed instead of fail.
Ways to connect with Neryk**:**
You can find more benefits how Branded Riches can help you build your Brand, Product, Business, and Yourself at https://www.BrandedRiches.com
Connect: https://www.linkedin.com/in/neryk-davydov
Branded Riches Audiobook by Neryk Davydov
https://www.audible.com/pd/Branded-Riches-Audiobook/B0GCP9MMRB
Branded Riches Book https://www.amazon.com/Branded-Riches-Increase-Income-Irresistible/dp/1987753836
$5 Free Gift for Creating A New Ovato Wallet www.ovatoCoin.com
About the Host:
Michael Hingson is a New York Times best-selling author, international lecturer, and Chief Vision Officer for accessiBe. Michael, blind since birth, survived the 9/11 attacks with the help of his guide dog Roselle. This story is the subject of his best-selling book, Thunder Dog.
Michael gives over 100 presentations around the world each year speaking to influential groups such as Exxon Mobile, AT\&T, Federal Express, Scripps College, Rutgers University, Children’s Hospital, and the American Red Cross just to name a few. He is Ambassador for the National Braille Literacy Campaign for the National Federation of the Blind and also serves as Ambassador for the American Humane Association’s 2012 Hero Dog Awards.
https://www.facebook.com/michael.hingson.author.speaker/
https://www.youtube.com/user/mhingson
https://www.linkedin.com/in/michaelhingson/
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Transcription Notes:
Michael Hingson 00:04
What if the biggest thing holding you back isn't what's in front of you, but rather what you believe? Welcome to Unstoppable Mindset, where inclusion, diversity, and the unexpected meet. I'm your host, Michael Hingston, speaker, author, and advocate for inclusion and possibilities. This podcast explores how the beliefs we carry shape the way we live, lead, and connect with others. Each week, I talk with people who challenge assumptions, face adversity head-on, and show what's possible when we choose curiosity over fear. Together, we focus on mindset, resilience, and the small shifts that lead to meaningful change. Let's get started. Hello, everyone, and welcome to another episode of Unstoppable Mindset. Today we get to talk with Neryk Davydov, and I want you to understand his name is Neryk, not Eric. I asked that question because I've seen him print it both ways, but a lot of people tend to to get it wrong. But his name is actually Neryk. Anyway, he is an interesting person who I think will have a lot to offer to us. He brings a lot of experience in marketing and branding and sales, and has worked with a variety of different companies to what he is doing today. He started his own company a number of years ago, and I'm sure he's going to tell us about that. I'm not going to give it away, and I want him to do it, so I'm going to be quiet and let him do it. But I want to just say at the outset, Neryk, we're really glad that you're here with us, and I really appreciate you coming on Unstoppable Mindset.
Neryk Davydov 01:56
Same as well, Michael. Thanks for inviting.
Michael Hingson 01:59
Well, glad to do it. Neric is down in Florida, where I assume it's reasonably warm weather. Is it warm down there?
Neryk Davydov 02:08
Oh yeah, around 80s, 70s. It depends.
Michael Hingson 02:11
Yeah, we're where I live in Southern California, and we're up in what's called the high desert. We are in an area where it can get pretty cool earlier in the week, it was only in the high 40s for a a high. But today, it's supposed to get up to 71. Go figure. So, we we have that. Well, why don't we start? If you would, I love to start this way. Why don't you tell us about kind of the early Neryk growing up and some of the the early stuff about you?
Neryk Davydov 02:40
Early stuff about me, so
Michael Hingson 02:43
we might as well.
Neryk Davydov 02:45
So when I was six years old, actually, my father taught me how to play chess, and that's where the whole concept came out with branded riches and connecting all the business wise. And I had an entrepreneurial life where I would go out and clean snows and do different things as an entrepreneur, and I've been learning different skills and marketing and branding and sales. Like for example, I had one story I remember. This guy came to us from a Boy Scout, and he says, "Hey guys, would you like to go and sell some cookies in Long Island? I said, "Yeah, let's do it. So we got in, we sold some cookies in a rich neighborhood, and that's how we were learning how to sell. And then when we came to Queens, we were selling, not selling. We were shoveling snow, and we were making like 10, $15 back in the days per house because we were working with immigrants. And then I had an idea where I would say to my friends, I'd say, "Hey, listen, you guys are driving. Let's go the four of us to Long Island, where they taught me how to sell cookies there, and all of a sudden, our customers were actually paying us from 50 to $100 per house instead of $10. So we're looking and learning from the quality of people that we had.
Michael Hingson 04:16
What did that teach you when you were moving over and starting to sell in Long Island, what what did that what did that actually teach you?
Neryk Davydov 04:24
So it taught me about the location that location really matters and the quality of people that you work with. It's you'll get the same amount of money or higher amount of money for the quality of service that you provide for other people.
Michael Hingson 04:44
I know, as a public speaker, I oftentimes get organizations. They say I can't pay you a lot, and I'd like to work with budgets. But the thing that I notice most often is that the organizations that say they can't pay a lot are won't. Pay a lot. Also, happen to be the organizations that make life harder than anything else for for me as a speaker. They have too many demands and other things like that. It just gets pretty interesting after a while, and I find that the organizations that tend to pay more for speakers and that tend to really put the time into researching you don't have the same level of demands, and they have a greater understanding of the whole process, which I find interesting.
Neryk Davydov 05:33
Correct. Yeah.
Michael Hingson 05:35
Not a surprise.
Neryk Davydov 05:37
No.
Michael Hingson 05:40
Well, so you did that. So did you? So you actually were a part of the Boy Scouts?
Neryk Davydov 05:46
No, it was actually an immigrant Russian guy that came from Russia. He learned about Boy Scouts, and then he implemented that same system with his own Boy Scout theory that he created.
Michael Hingson 06:01
Okay.
Neryk Davydov 06:02
Back in the days, I didn't know that, and then I learned from this entrepreneur that he has actually created a whole system through it.
Michael Hingson 06:10
Oh, okay. Well, Girl Scouts have been selling cookies for years and being quite successful with
Neryk Davydov 06:16
it. Right.
Michael Hingson 06:19
Oh, that's that's pretty cool. Well, so so you you did that so when you were a teenager, I gather.
Neryk Davydov 06:29
That was in the teenagers, yeah. And then when I moved down to South Florida, I was working for a corporate office, and I was making pretty good money back in the days. It was where I was making $12 an hour, which is pretty high, and it was like a temp job for six months. And then after that, they laid me off because I really did my job. And I said, "Oh man, you think something bad has happened to you, right? Because you you're not working anymore. Then I went to a company called Cutco Knives. They taught me how to sell. Yeah, they taught me how to sell knives, how to create appointments, how to do schedule, how to do a lot of things. And Cutco knives, as you know, they're not cheap knives. You got to sell 1200 knives in order to make it successful, and because I was connected with a lot of Jewish people, I used to sell them two sets of knives: one black and one white, because they eat different types of food, right? Meat dairy separate. So, and that's where I learned my skills, and then my father said, "You know, you need a real job. I said, "If it's sales, I'd love it. So that's how I got into the distribution business. He was bragging about me to his friends that I'm a best salesperson, and when I got into that company, it was called Yimagination. I came in as a wholesale distributor, and when I looked at the prices, I was like, "Wow, this is nothing compared to what I was selling. And I built up that company so fast that they had to hire eight different salespeople to take care of all of my accounts.
Michael Hingson 08:17
So, how old were you at this time?
Neryk Davydov 08:22
That was around 18 years old.
Michael Hingson 08:25
Okay, so you just graduated from high school.
Neryk Davydov 08:28
Correct. Correct.
Michael Hingson 08:29
Okay.
Neryk Davydov 08:31
And doing in between college as well, going into college, working as a salesperson, and getting into international business Career.
Michael Hingson 08:42
Where does chess fit into all of that? I understand what what you said about learning to play chess when you were six. When did you start really incorporating and thinking about chess as being a part of that?
Neryk Davydov 08:57
Since I was little and actually implementing and creating my brands, it also it affects you a lot. Like when you play chess, it's it's an amazing thing because you learn how to manage your time, manage your money, how to take action fast, and there's a lot of things incorporate. Do calculations the right way. There's a lot of things incorporated there. It's like timing. I talk about timing all the time. I'm a blitz player. Blitz player means we play five minute games and long hour games, which is three hours. So you and I still compete in the competitions as of now. So when I play in the Long-term competitions, the three-hour games, I just go nuts. Fly on a blitz, I love it because I take action fast and I make moves. Like when business opportunities come my way, I actually look it over and I take action right away. Don't lose the opportunities.
Michael Hingson 10:02
When do you find that it's more worth it to spend a little bit of time and analyzing before you make a move or before you do something in business, as opposed to when do you find that it's best if you take action right away? I assume that there are sort of different rules or different conditions that cause you to choose to make different choices based on what you're looking at,
Neryk Davydov 10:30
right? So in blitz, usually when you play, you play pretty fast, but because you you have the same intuition that you would have in the long games. It's just that you have so much practice and knowledge and skills that you'll see those moves and those tactics and those strategies come your way right away. And then in the long games, like when I play long games against somebody else, which must must be even stronger player than me, when they make a critical move, in some points I would take that five extra minutes just to look over the game because he might see something better than I have. So just like in business, we have the same thing. Like if if it's an opportunity for me to get into a new product, I would get into that product and then tweak it and make it better little by little, and that's how you would get into the business right away. But then you have different aspects where you have to analyze and take your time, where the projects are way way bigger and you have other partners involved.
Michael Hingson 11:41
So you really equate a lot of business and business life and business thinking with the same things that you you think about when you're playing chess.
Neryk Davydov 11:52
Yes, correct. Actually, we play at Panera all the time. I'm the club in the Panera Club. We play chess, and it's amazing because I have venture capitalists at the place, I have app guys that design their own apps, and every person that I play against, I could actually tell how they live their life based on the simple game of chess that I play with them on a five-minute game. If they procrastinate, if they overthink, like I had the other day. This player is stronger than me, but what happens is he keeps on losing because his time runs out because he doesn't know how to manage his time the right way.
Michael Hingson 12:33
Yeah, I know that when I play chess, I probably well, I've I've never tried to do a blitz game, but I think I would probably have more of a challenge with it, just because I know that I haven't spent enough time practicing to really totally memorize the board. So I have to keep looking at the board, and the result of that is that I take time doing that. But but I also understand and value a a blitz game, and I know I've I've known people who do that very well,
Neryk Davydov 13:04
right? Okay,
Michael Hingson 13:06
but but it's a but it's an interesting process, needless to say, and the fact that you've trained yourself to be able to work fast or slow depending on the circumstances is what really makes for an interesting situation, which I can appreciate.
Neryk Davydov 13:24
Yeah, you know, the hardest project that I had actually was writing my book, Branded Riches, because my language, my second language is English, so my first language is Russian. So coming as an immigrant, my skills was pretty high in math because of chess, but and English was the hardest because I had to learn four different languages and and then write a book. So that was the challenging out there that I had. If
Speaker 1 13:59
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Michael Hingson 14:32
Well, so you you spend a lot of time today. You do you conduct a lot of seminars, sales seminars, and so on.
Neryk Davydov 14:45
So mostly I do trainings. We had different companies where I used to train other salespeople to become successful, and from that point on, I trained them so well that they became my competition. They started. Creating their own brands and becoming successful, you know, but but that's what I do. Actually, I train other people. If you see on the background of Auto, so we train other people how to create a brand and how to label and how to market and how to create CRMs and how to brand themselves as a company and create CRMs for them and make money through our cryptocurrency them out with.
Michael Hingson 15:33
Right. The the other aspect of of all of that is that when they become your Competition. It seems to me you have two possible options as to how you look at it. One is that they're your competition; they're the enemy. But the other is it's a great compliment that they thought so highly of you that they became your competition, which I would think is a whole lot better way to look at
Neryk Davydov 15:57
it. Right. Actually, competition is great, and I love it because we actually work with each other and help each other out. Right. I remember I had a partner where I had the money. No, he had the money, and I had the customers. And then at the end, we split up, and then I had the money, and we're still doing business together because we have the customers, we have the products, we do private branding and stuff like that.
Michael Hingson 16:30
Right. Well, and there's a lot to be said for that. And as you said, competition is a is a good thing, positive, and it it doesn't hurt to to have a little bit of competition to keep you on your toes, if as it were.
Neryk Davydov 16:47
Right.
Michael Hingson 16:48
So, what do you advise people on regarding if they're in debt, getting out of debt?
Neryk Davydov 16:57
Perfect question. I actually I went to a training called Millionaire Mind Intensive with Tiha Record, and it was a bunch of millionaires teaching us how to manage our money. And I was actually $40,000 in debt. And when I went through that seminar, he taught us something amazing called a six jar system. It's how you manage your money. Most of the people actually put all their money in one basket. Like for example, they receive the check, and what they do is they put that into the bank account, and then all of a sudden, at the end of the week or the end of the month, they have no money available. So what we do is we teach them the six jar system, which is the FFA, which is financial freedom account. You would put 10% into it. Then you have LTSS, which is long-term saving spending, which is luxury. Another 10% That means that if you want to buy a nice house, a nice car, you would put another 10% away. Then you would put 10% into education, which is on personal growth and development, like seminars to train yourself to become better. Under always give charity, which is 10% And then you gotta have this account called play, and as you play, you have to remember as a child that you need to spend that money because if you don't spend that money, that 10% what happens with it is you're actually working, working, working, and then at the end you're not spending anything, so you get frustrated, you know, and then the necessity would be the 50% which is your bills and stuff like that that you need to pay off.
Michael Hingson 18:47
Right,
Neryk Davydov 18:48
and and let's say some people say, "Oh, I can't live on 50%. So what we tell them is, you should start out with even $100, and as you grow, just keep on adding more money, but keep dividing them and spreading the income in different jars or different envelopes or different bank accounts, and that way you become successful because now you know how to manage your money.
Michael Hingson 19:17
Yeah. Well, and it is about money management. It is all about recognizing that you have to, and you have control over your money, and you have to exercise control. For me, one of my favorite things. My wife and I, she is passed now, but my late wife and I had a couple of times where we went into credit card debt, or we had a business for a while that worked, but it wasn't selling enough to make enough money for us to really survive. But what we what we did is that we worked both times to make sure we paid off all of our. Bills, although sometimes it didn't happen quite as fast as we would like, but what I really like today is that, and I executed this once after my wife passed. I pay every credit card bill every month, so I don't have any balances on any of the cards because I was able to automatically have all the the bills paid, which is such a comfort, because I'm not going to overspend, and I'm also going to make sure that I really look at what I'm what I'm paying for. But it's just such a wonderful thing to be able to tell the bank take the money right from the outset, so I take the choice away from me and won't ever be tempted to to spend money in a different way and add a lot of credit card bills to it because credit card debt to it because I've adjusted the process through a mindset to make sure that we we pay everything off at the end of every month.
Neryk Davydov 21:03
So, so I'll tell you my secret that I learned from one of the millionaire. His name is Marshall Silver, and he said that people that pay off their credit cards, they're actually making a lot of money on free vacations, and they get credit card cashbacks. Yeah. So, what I do in my business, since I run a distribution business, I buy merchandise 3040, 50, $100,000 worth of merchandise, and I pay with my credit card. So now I'm actually getting 2% cash back.
Michael Hingson 21:33
Yep.
Neryk Davydov 21:33
While other people that are overpaying and not paying everything on time, they're actually paying the interest and my vacations for free,
Michael Hingson 21:41
yeah.
Neryk Davydov 21:42
So that's what happens. Yeah, you're right.
Michael Hingson 21:45
Yeah, and the other thing that I've learned, which I find interesting, and I heard this: we bought a car a few years ago and had a a six year loan, but in addition to the monthly car payment, we pay $100 a week, and at in sometime in the next two or three months, in like only about three years, the car will be completely paid off because we're not paying all that interest. We're paying it off and and getting it all done.
Neryk Davydov 22:16
Right. Yep.
Michael Hingson 22:18
Which which is very helpful thing to do as well.
Neryk Davydov 22:21
Yes.
Michael Hingson 22:23
So, talk to me if you would like about how you increase your income and where that relates to chess.
Neryk Davydov 22:32
Okay. How to increase my income? So let me just share something that I have for you guys, so there's something in our life that we created through a game of chess. Like we have pawns, right? When we start out in the beginning, we are all pawns, and we are growing gradually. We become bishops, we become knights, we become rook, and we become a queen. A queen means when you actually become either self-employed or you have passive income just coming in. But you can never become a pawn again. You could always upgrade to something else because once you learn your lessons, you become more successful on it, and for example, the way I used to increase my income in multiple streams of income, one way is by creating a brand. When you create your own brand, now you are in charge of it. Now you're actually making more money, and you are in control of it. So now you could charge people more money that it's supposed to be worth because everybody is using marketing advertising for the same product that you have created. I'll tell you a story that happened with me with my Fire Hookah brand many many years ago. I came to this guy and he created a vape that was very popular and it had nicotine on it and everything, and I told him, "Hey, how would you? Can I sell your product? He says, "No, I cannot sell you. You cannot buy my product and sell it because I have exclusivity with all these distributors. I said, "But all these distributors, they sell to big stores. They don't sell to mom and pop stores where I am, and I would respect those stores, he says. "No, I can't sell it to you. I said, "No problem. I went, I called China. I created my own brand, and but I created one without nicotine. I didn't want to give him a competition. I created something different. Six months later, he created one without nicotine because I bypassed them on all the sales, and my brand became more popular than his brand. And then I had another idea where I was getting into Ovato, which is the crypto coin, and I saw this guy coming into one of my stores, and he's he was putting these Bitcoin ATM machines out there, and I said. Hey, this is a great opportunity for me to do joint ventures with somebody. So I gave him a call and I said, "Hey, listen, how would you like to do joint ventures? I have a lot of convenience stores and gas stations. I will put your machines in all my stores. Let me just get a percentage of every store that I put it in. And I started with $400 per store, and then I told them, let's change it around. Instead of $400 per store that I initially gave you, I want to get residual income, which means I want $100 per store that will make me pay me passive income, and that went for five years nicely. If you put in in a lot of stores,
Michael Hingson 25:43
yeah. Well, and of course, it's a lot of times it is all about quantity, especially if you're doing distribution, having a number of different places to go into.
Neryk Davydov 25:57
Correct, correct.
Michael Hingson 26:00
So, what got your interest aroused to go into crypto?
Neryk Davydov 26:06
So, when I got into Ovato back in the days, and I was hearing about Bitcoin, I was so new that I thought I actually invested into Bitcoin. And as I was finding out that Bitcoin and Ovato was totally different thing. I said, "So what is this? And my friend Raja was telling me, "You don't worry. Keep on investing into Bitcoin because this thing is just gonna shoot up. And back in the days, Bitcoin was only $3,000, and so I kept buying a little bit here, a little bit there, and as I learned, I learned Ethereum and stuff. But I saw huge potential to Ovato, where I could help my customers and business owners because on credit card fees, they actually have to pay 3% on every transaction. Where Ovato will come in, and it will save them 1% on transaction fee. So that's where usually, what what I like to do is I like to do business with what I'm doing with my customers and help them on top. That way, it doesn't waste my time, and also it helps my customers and saves them money and makes them money as well. So that's why I got into Bitcoin and crypto and Ethereum and Ovato and all these different coins. So is Ovato one type of Bitcoin? Yeah. So Ovato is actually a utility coin, and this is how you know when a coin is successful. There's a lot of coins out there. There's like Mimi coins, which is like Pepe, Fort Coin, Dogecoin. Those coins can be like a pump and dump. With a utility coin, it's different because if you have a utility coin where people can buy things with it and save money and use it every day, those are the coins. In the long term, they will succeed, so that's the difference between our coin and any other coin out there.
Michael Hingson 28:08
So who created Ovato as a coin?
Neryk Davydov 28:11
His name is Albert. He's the guy behind the technology out there. So what I did is actually when I got into it, it was 60 cents. I brought investors at 90 cents. Our coin went to $10, and a lot of investors cashed out, made money. But what happened is they cashed out in the wrong time because we didn't build out the interface, the front, the you know how you call it, the infrastructure. We didn't build it yet. Now we build the infrastructure. We have the tablets. We have the stores. We have an ambassador program. We have a super affiliate marketing. Everything built out. So when our coin went from $10 to 15 cents, within one year we took the coin for 15 cents to 94 cents, and we and now we went on the exchange. So the difference between our coin and other coins, most all the coins they usually go on the exchange first, and they wish that their coin goes up. And if it goes up, they will succeed. If it doesn't, they won't they won't succeed. Right. But we we on the other hand, we build out the stores, we help them out, and then we go on the exchange for our customers to cash out if they need to cash out to run their business, right? And they get also loyalty rewards program. And every customer that signs up, they would make a profit because now they're creating a loyalty customer like a CRM, so instead of paying $10,000 on CRM to somebody else, they're actually creating money. So I would compare our company like a Groupon with crypto and rewards program, but you get to keep the customers. That's the difference between our company.
Michael Hingson 29:57
So our and and this is what you're. Doing today,
Neryk Davydov 30:01
correct. Well, I still run my distribution business. That's my bread and butter, you know. But then what I do is I reinvest into different crypto, real estate, different businesses out there, or startups. But I take Ovato. Ovato is like my baby. That's gonna explode, go to like 2030, $40. That's where I look at Ovato, where it's going to be hitting. So what I'm doing is I'm acquiring as many wallets as we can and as many customers as we can to help them out, because Ovato is going to be all over the world. We're already all over the world, but our merchant program, we're already building it in three different markets, which is Florida, New York, and UK. Those are the three main markets where we're building, and then we're going to go worldwide everywhere else.
Michael Hingson 30:53
What do you mainly distribute as a distributor? What what what products typically?
Neryk Davydov 30:59
So, if you heard the brand Raw, I was the one that made them popular. The Clipper lighters, the 420 sprays, mostly like smoke smoke shop item products that are very popular and on the shelves.
Michael Hingson 31:15
Okay.
Neryk Davydov 31:17
And actually, I just we just created our own brand, and it was funny how it happened. So I was helping my nephew in a barber shop. He wanted to become a distributor selling barber supplies. So I went to a trade show with him, and the show was quiet. And all of a sudden, I see this guy, and his booth was busy, and he's like, "Are you in pain? I'm like, yeah, I have a shoulder that hurts a little bit. He's like, sit down. He puts on this cream, and the scream hits me up, and the pain goes away instantly. So I came to him and I told him, hey, how would you like to do joint ventures? See, I always think three or four or five or six moves ahead, like in chess. Right. And I tell them instead of me selling the big creams that he has, I want to create a small little packs where, like, they're gonna be like a tonal packs, and that's where I tell them, let's create a private brand for us with your name on it. But I want exclusivity where we have little packs like the tonals where I could sell them wholesale to the stores, and the stores sell them to the customers, and that's what we have created. It's called Powerful X, and now we're distributing that product as well.
Michael Hingson 32:27
Wow, is it making a fair amount of money for you?
Neryk Davydov 32:31
So right now is the stage of building it up. So we just got project,
Michael Hingson 32:36
ah,
Neryk Davydov 32:37
and we got it. It's all about marketing, branding. It takes time to to brand the and make it popular because in order to sell to big distributors, you first have to do the legwork. You have first I have to build it up, and I teach actually how to take the products and build them into the store. So you want to put them either on consignment and charge them a little bit higher, and then when you want to close the deal, you're gonna give them for a cheaper price. And then once it's in like let's say 150 stores, then you could hit a big distributor and tell them, hey, would you like to sell distribute my product because I have it in all these stores, and they'd love to see if you have the product as well, and then they'll take on the product. But they wouldn't buy a product from you until it's popular, so you have to do the public work first.
Michael Hingson 33:32
It's all about credibility,
Neryk Davydov 33:34
correct?
Michael Hingson 33:37
So tell me more about the whole concept of of a brand, which I think also has a lot to do with credibility, but why is having a brand as such so important, and what does it really mean to have a brand?
Neryk Davydov 33:48
Well, it's first of all, it's your brand; you're building it out, so it's like you're building a name for yourself. It's like, for example, the day we were promoting Ovato, and when I spoke with one of the football players, and I told him I wrote a book about branded riches and stuff like that. Now he's looking into a different level of investment with Ovato because you have the credibility of creating that brand, and if I didn't have that credibility of creating my own brand, my own name. It would be hard to get NFL players or any popular people to invest into you or into your products or into your brands that you create.
Michael Hingson 34:35
Well, and having a a brand, I I talk about it all the time when people talk to me as a speaker. Well, you know, what are you worth? When I say, well, my brand is worth a lot.
Neryk Davydov 34:51
That's it. You can sell it in the future, right? Yeah,
Michael Hingson 34:54
and it is worth a lot. It is. It is important to understand that. And if people don't see the value in that, then then that's unfortunate. But the brand does count for a for a whole lot,
Neryk Davydov 35:08
right? Even some people, like for example, when I distributed some products, I might have a higher price on it. Why? Because I'm actually the first one who gets in the new products, and I make them popular. So by the time every other distributor gets it, it's going to be too late for them to make that money. So that's what I do in the beginning. And they say, "How come you're more expensive? I'm like, "I'm here building the brands. But in the future, when everybody has the product, then the price goes down because now you guys are all competing against each other.
Michael Hingson 35:42
Yeah, yeah. How do you how do you manage your time and your schedule?
Neryk Davydov 35:50
That's incredible. That's where actually chess comes in, and there's a lot of things on how to manage your time, and and that's where the chess comes in, right? Five minutes, three hours difference. And if especially if you're in sales, and that's what I learned from Cutco Knives, which is amazing. They teach you to create a calendar, to be organized, do customer analysis. Like for example, I visit customers over 300 customers. So what do I do. I go in special area where I circle around and I see them on Mondays. Then I have Tuesday customers. Then I have Wednesday customers. And let's say if a Friday customer calls me on Monday and says I need product, I said I'm going to be in your area on Friday. I'm not going to just go make a circle to see them because now I'm losing time, and then you would also analyze who bought, who didn't buy, and that's how you would manage it and just follow up with them and resell them and and analyze like your customers how you sell.
Michael Hingson 36:55
How do people react when you say, "Well, I'll be in your area on Friday, as opposed to they want it today.
Neryk Davydov 37:03
They actually learn, and actually sometimes I have a holiday and I don't go there. Let's say holiday shows up on Tuesday, and if I didn't show up on Tuesday and I showed up on Wednesday, they hold hold to me and they tell me, "Hey, what happened with you? You were not here on Tuesday. You were supposed to be on Tuesday. So what I do is before I go on vacation, this is how I manage my customers. Before I go on vacation for one week, I tell them, "Hey, listen, I'm going on vacation next week. Let's make double the order. That way, they have enough product before and after I come back from the trip,
Michael Hingson 37:41
okay, and so it's it's all about customer management. It's all about setting expectations, which is one of the most important things that people generally tend not to learn about sales. It's all about setting appropriate customer expectations. But when they when they get your information and you set proper expectations, and then you come through. They learn they can trust you, which is what is what's most important about sales, anyway.
Neryk Davydov 38:11
Correct.
Michael Hingson 38:11
Well, so when you're selling to different customers, are are you basically of the opinion that you can take any product and and make it successful, or or how does that work?
Neryk Davydov 38:30
So what I it depends. First of all, I need to be connected with the product, and if it adds value to my customers, I will sell the product. And there's something that I teach that I learned actually from one of my trainers, and I use it all the time. And there's a few things the way I qualify the people for the product. It's called form. It's family, friends, where they're from. You get to know more about them. Then you do the occupation. You find out what they do for a living, and then you do the recreation. Recreation is what do they do for fun? You need to connect with your person, and then the message is where you would send them the message and see if your product will qualify, and you'll be able to sell it to them. If it doesn't connect with them, what I would usually do is I build that contact relationship, and if I have somebody that I connect can connect them with, I would just connect them with that person and add value. And it's amazing because later on in the future they'll call you back and they'll connect you with somebody else.
Michael Hingson 39:42
Have you ever had a product that you sold where it really just didn't fit in some particular person's environment? That is, it wasn't going to work for them. And if so, how did you how did you handle that?
Neryk Davydov 39:59
Yes. So I have that in my distribution business because what I do is I create brands and I have to put it out there. So let's say if the customer didn't buy it, I put it on consignment to first test if the product is there, and then some people they trust you so much because all the other products that I put in there they became successful, so they're like, "Okay, this product will work too. So what I do is I sell to them, but I also guarantee them. So if the product doesn't sell, I could
Michael Hingson 40:29
always switch it for another product, and that's what they like about me. You know, it's always guaranteed that if my product doesn't sell, I'll switch it for something else that will sell, because every area is actually different, so you can't analyze one in Broward and one in Miami or one in Fort Lauderdale or Kindle, and it'll sell different ways. You know, different personalities will know about this product, and different people won't. I've had products that we sold when I worked for a manufacturer, and I've gone to customer sites where they ask us to come out and give a presentation about what we do. But I ask enough questions that I really learn before we even start our demonstrations and our discussions, whether my product will work, and what I've done in the past is, when I when I figure out what works and what doesn't work, I'll still go through my presentation, but at the end I'll say you may have already figured out that our product won't work for you, and here's why. On the other hand, here's what will work for you, but it is all about. It is totally about developing trust.
Neryk Davydov 41:46
Correct. All right.
Michael Hingson 41:48
And the the end result of that is they'll come and order from us when they know that we have a product that will solve their problem because we've developed that trust, which is of course part of our brand as well. Having a having a brand that that basically says you can trust this person means a lot.
Neryk Davydov 42:11
Yes.
Michael Hingson 42:12
So, how do you start to develop a relationship with a new customer or prospect? How do you start that process?
Neryk Davydov 42:21
So the the thing is we form them, and then the other thing is there's something called the four type personalities, and most of it, when you sell a product to to a person, you actually get connected with that same person who has the same personality as you, and so there's four types of personalities: one, red, blue, yellow, and green. Red would be like leaders, decision makers. They take action quick. They go getters. They're number one. So how would you approach them, or how would you sell to them? You get straight to the point. You show them results. You get to the top. They want exclusivity. That's how you would get to them. Then there's blue type personality, which is all about having fun, outgoing. They're visionaries. They're dreamers. They talk a lot. They like attention. So how do you sell to them? You make sure to greet them, to be social, have a drink, go on vacation, have fun with the friends. It's all about that. Then you have the yellow person, which is all about helping people, and those are people are actually connected with churches, synagogues. They don't have money because they give it all away, and they got lots of friends because their friends actually trust them. And how would you sell to them? Well, you sell to them by giving the products and promoting it towards their friends, not even them. And and you never lead them with money because they don't care about money, and they care about testimonies. Is this really working, or is it not? And then you have the green people, which is the analytical people. Those are people that actually play a lot of chess for long-term game, and they like to analyze. They like to do detail orientation before they take action. They need lots of information. They got money, but they don't like to spend it. They suffer from analysis over paralysis. They take time to decide long time chess. And how do you sell them? You give them enough information. You give them date, location, who, what, where, when, why, and they need to really trust you in order to do business with you, and that's how you qualify which person will be good for that particular product that you're selling. But you need to speak their language.
Michael Hingson 44:59
Yeah, it's always all. About communicating with the customer and making sure that you're communicating in a way that they understand.
Neryk Davydov 45:05
Correct.
Michael Hingson 45:06
Yeah. Have you ever had a customer that you should just never really develop a trusting relationship with them?
Neryk Davydov 45:16
Yes. Yes. Well. Well, actually, when you have a lot of customers out there, and time after time, when you see you have challenges, you say, you know, it's not worth my time. I think I could let go of this customer and find a better customer. Yeah, you know, because sometimes you don't want that headache.
Michael Hingson 45:38
Do you find though that you've got some people that you want to make that decision, but then they just won't let you go.
Neryk Davydov 45:47
Yeah, you have those. Like for example, I have a I have customers that give me $1,000 orders, and then you have those customers that'll give you $100 orders, but they're like pain in the butt, you know. But the whole thing is you're in the area, and the funny thing is when you're slow with those big clients, and you want to do some sales, you go back to those little customers once a month that really give you a headache sometimes.
Michael Hingson 46:16
You have to figure out when to fish and when you cut bait or or stop working with them, and you know it's it would be nice to have every customer decide to work with you and so on. But but it doesn't always happen,
Neryk Davydov 46:31
right? Right. So what you do is you just build on more customers, and as you have built more customers, just let go of the other ones that really are not worth your time. Yeah,
Michael Hingson 46:44
and if it becomes worth your time, they're going to show you that.
Neryk Davydov 46:48
That's right.
Michael Hingson 46:49
Yeah. So I'm just looking at and thinking about what you've said, and I guess one of the questions that really comes to mind Is and you talked about this with the different kinds of people that you have the the yellow, the green, and and so on. Do you find that there are a lot of people who just lock themselves into selling to people who are like them, as opposed to people who are are different?
Neryk Davydov 47:19
Oh, definitely, definitely. That's why you see a lot of these salespeople. They'll do a lot of sales based on their personality, but then they're leaving 90% of the people that was that could be sold, but because they don't know how to connect with them the right way, they don't speak their language, sales communication, and they lose all their sales because of that,
Michael Hingson 47:41
yeah,
Neryk Davydov 47:42
yeah. Like for example, my colors when I started this industry, I was actually green. I was very analytical because I played chess, and my first major was computer science, and I transformed that into international business, and my 80% was green. But now I have all different colors more dominant. I have the red, which is the leader, and I have still green, but I also have the blue and yellow here and there. And like for example, my wife, she's blue. So what happens with that is you have to know how to communicate with her, you know. And the way I communicate with her, it's all about let's go have fun or this and that. You know, it's a different communication. Yeah,
Michael Hingson 48:32
and and that makes sense. So, going back to money management, when do you? When should a person start to manage their money now, or when they actually have money to manage,
Neryk Davydov 48:42
right? So that's a good one. I actually have an amazing story on that-the ice cream story. So this little girl goes with her daddy, and she says, "Daddy, daddy, I want that ice cream. So daddy gives her a scoop of ice cream, and she's about to eat it, and that scoop of ice cream falls down on the floor. So, Daddy, what is he gonna do? He's gonna buy another ice cream, right? So he goes to the truck and he says, "Can I have another ice cream? And the and the little daughter says, "I want that, dad, daddy, which is three scoops of ice cream. And she says, and the dad says, "No, I'm not gonna put you up for failure. So the same thing with money management. If you know how to manage your money now with $100, God will give you a lot more money because now He knows you know how to manage your money. It's not about saying I have a million dollars and then I will manage the money. It's when you have $100 and you know how to manage it. You'll get 1000s and millions of dollars coming to you.
Michael Hingson 49:47
Well, and the ice cream story is is definitely a a good story. How do you then equate that or or translate that to when you when you start to get a lot of money? How do you stay disciplined so that you continue to manage that money rather than letting it overwhelm you and you you waste a lot of time and effort?
Neryk Davydov 50:11
Right. So if you do do the jar system, you'll be able to diversify all that money, where you could have when somebody comes to you and he says, "Can you give a donation? And you say yes because I already have a jar separate just for that donation. If you want to go on vacation with your family, you're gonna have that jar that has 10% that you could go on vacation. So I remember one of our first trip that we went to. It was a Bora Bora trip. That trip cost us $11,000 wholesale price for one week to go to Bora Bora. If I would have had that mindset that I have all my money in one basket, I would say I can't afford that trip. But because I had the jar set aside for that vacation, it was just piling up, piling up, and we went to Bora Bora for $11,000 in one week. Yeah. So you'll be able to manage your money the right way, and you can have money coming in as an investment as well. Because like one of the jar, it's called FFA, which is you have the money work for you instead of you working for the money, which is that's how you create passive income and you diversify. You put in real estate, stocks, crypto, and just let it run and compound interest and different way. And as you have more golden gooses coming in, you'll be able to diversify more and more into
Michael Hingson 51:41
it. Do you find that you get or you observe a lot of businesses, and you can take ideas from one business and bring it into your business?
Neryk Davydov 51:52
Oh, definitely, definitely, and that's what I have done with different businesses out there. And just like the bishop in chess, you have two bishops. You have a black bishop that holds the white squares, and then you have another bishop that holds the black squares. So white and black squares, and they control the whole board. And sometimes, when you go into a different industry and you see that successful, you take that business and you put it into your business, and then it just becomes success. It's very easy.
Michael Hingson 52:27
You may have to modify it or move or or change something about it, but the whole point is to be meticulous and be observant enough to figure out how to make that business model something that works for you,
Neryk Davydov 52:42
correct, correct. Like for example, what we did is, I'll tell you a story with Ovato. We had this brewing company up in New York, and every Thursday they would charge people $5 to come in and do their event, and for the concert and everything. So what we did is we created them a wallet, a a merchant wallet, and we said, go ahead, and every person that comes in, let them just come in and create a wallet, and you get them in for free. So with that happens, we created a whole loyalty program for them, and instead of them making only 100 $500 profit, they actually made $2,000 profit with us. So what we did is we took something they really have, but we added something else into it, like Ovato, and then they saw a huge success because now they're creating a loyalty customers, and they're making profit, and then what happened is the next day the waiters would go around and they would tell them, "Hey, would you have ovato? And let's say if they had a vato, all they had to do is just increase more ovato coins into it, and they would get a free chip that gives them a free beer on top of that,
Michael Hingson 54:02
okay,
Neryk Davydov 54:03
and now they created a whole loyalty rewards program that helps them to get customers, and then they could create their own campaigns as well to bring more customers and let them come back.
Michael Hingson 54:18
You say that you like to reward action takers. Tell me more about that.
Neryk Davydov 54:23
So yes. So like for example, if you see the the picture behind me, we put a gift card. It's a $5 gift card. So and all you have to do is just scan that QR code and create a wallet. And the minute they create the wallet, I will send them $5 as a gift, and that's what we like about action takers. And by the way, my book called Branded Riches on Amazon. If you get that book and you do the jar system, the six jar system, just read that chapter. You will see your financial will change. It will transform. I mean, my daughter is doing it, and she's making passive income already because of the jar system that I taught her when she was four years old. And yeah, so they could go there, or they could go to ovatoCoin.com and create get the wallet for free, and I would send them $5, and our company will actually have a video there that will start teaching them on how to invest into Ovato, or or if you're a business owner, it's gonna actually help you how to create a loyalty rewards program on top of that.
Michael Hingson 55:42
So the QR code takes you to ovatocoin.com.
Neryk Davydov 55:46
Correct.
Michael Hingson 55:47
Okay, I ask that because some of us aren't going to be able to easily scan the QR code. Okay. So ovato is a v a t o
Neryk Davydov 55:58
a v a t o and then coin.com.com correct
Michael Hingson 56:04
okay great well I hope people will do that take advantage of it and that they will go and and also get your book branded riches which is which is pretty cool so that's available on Amazon and wherever books are sold,
Neryk Davydov 56:22
yes, and we also have an audio that we just launched, Brandon Rich's audio as well.
Michael Hingson 56:27
Okay, well, great. Well, I want to thank you for being here. This has been fun. It validates a lot of things that I've felt about sales for years, and I really appreciate you taking the time to be here, and I think you've offered a lot of good insights and a lot of good ideas that people can use, and I hope that they will. So I want to thank you for that, and I want to thank all of you for being here and listening to Neric today. We'd love to hear from you. Please feel free to email me at michael hi@accessib.com, a c c e s s i b e.com. Nerrk, if people want to reach out to you, how do they do that?
Neryk Davydov 57:06
They could find me on they could find me on LinkedIn, and it says Neryk N E R Y K Davydov
Michael Hingson 57:15
D A V Y D O V.
Neryk Davydov 57:18
Correct.
Michael Hingson 57:19
Okay. Well, I hope people will, and I hope they'll reach out to you wherever you're listening or watching our podcast today. I hope that you'll give us a five star rating. But more important than a rating, please give us a review. People really value hearing and seeing good reviews about people's podcasts, and we hope that people are are doing that, and we'll continue to do that. So, the five star rating is great, but give us a review. We appreciate that as well. And anyone out there observing the podcast today, and Neryk, you as well. If you know anyone else who ought to be on our podcast, we would love it if you would introduce us. We're always looking for more people who will be willing to come on the podcast and tell their stories, but for now, I would just like to thank you once again for being here, and we appreciate it very much. And I want to thank you for your time. So thank you,
Neryk Davydov 58:12
thank you, Michael. Yeah, definitely, you're unstoppable.
Michael Hingson 58:19
Thank you for being here with me on Unstoppable Mindset, I hope today's conversation left you with a fresh perspective, a new insight, or at least something worth thinking about. If you're ready to go deeper into the ideas that shape how we see ourselves and others, I have a free gift for you. Head over to MichaelHingson.com and download my free ebook, Blinded by Fear. It explores the invisible beliefs that hold us back and shows you how to reframe them so you can move forward with clarity and confidence. Be sure to subscribe to our podcast, leave a review and share this show with someone who can use a reminder that growth starts with mindset. When people think differently, we all move forward together. Thanks again for listening. Keep learning, keep questioning, and keep choosing to live with an unstoppable Mindset.
