BE V2.0 — Session 4

Jay Abraham · 2021-02-15 · 2 h 26 min · the recording

Transcribed by machine from the recording. Names and a few spellings may be imperfect; the timestamps mark where each passage begins in the recording.

0:00:06Welcome, Shlomo and Steven, you guys are coming online. We are just now getting started. Hafiz, David, Maya, Tom, welcome, Amanda. Great to see you, Jim. Welcome back. We are just now getting started and I see everyone is filtering into the room. So thank you, thank you, thank you. Couple of things. We are still inviting a few more people and probably in two weeks, we are going to be fully integrated. And after that, we're gonna do kind of a makeup review, overview of everything that's come to that point. You should, if you've just joined, you should have gotten kind of a catch up session that is really in depth and goes over a lot of things. But we're gonna do one live and everyone is of course invited to this. It's a great way to review if you've been engaged the whole time. And if you're joining us in stream, it is also a fantastic way to get up to speed. It's just a brilliant, brilliant way to get it. So where we are, we have gone over some grounding where we talked about the business bucket list, optimizing your mindset, pulling on your growth levers, diversifying that leverage, calibrating and adjusting and always in that constant set of improvement and it loops around.

0:01:41We talked about how Jay has done something throughout his business career that has given him a unique perspective. He, instead of having tunnel vision in one business or one industry, he's allowed multiple thousands of different industries, not businesses, industries, to funnel in, to give him a perspective that he has now synthesized and to business multiplying perspectives that with little to no cost, little to no risk, can be implemented in your business to grow it beyond exponential. And those are the levers that we talked about in those kind of grounding sessions. And there are so many levers to choose from. He gave multiple examples of how you can pull on all of these levers. We went over the categories kind of really fast. We went over all the categories that we're gonna be covering in this program. And if you do three, you've now entered into the realm of beyond exponential. And he showed how that math works. We navigated the categories and talked about that. And then over the last two sessions, we've been diving deep into a system of preeminence and greatness. So we covered nine mini categories in the field of greatness and preeminence. And Scott and I this past week did a brief kind of accelerator program on creativity that was for another program.

0:03:20But one of the participants said something that really created a foundational realization that the moment that you start applying preeminence, it affects every aspect of your business and can make it easier to do business. It can attract business to you. It can multiply the effects of your clients in reaching out to more clients because they can refer you with integrity. So preeminence can be one of the biggest multipliers for your business. There is a hidden gem in there that most people miss because when you go from a client-focused business, from the natural, hey, we care about profits, we wanna stay alive, kind of a survival mentality and you go into a thriving mentality where you are in service to your client, that shift can create massive amounts of money because your clients will feel it and people will forget what you tell them, but they will always remember how you made them feel. So very powerful. And I do see lots of things coming through here, but I am focused on providing you some value here before we get started. And one of those pieces, oh, and let's see, there was one more thing. So yeah, and then we went into greatness, which covered entrepreneurship, vision and mission, strategy, leadership, product and service, empathy,

0:04:51value creation with marketing, advertising and selling, preemptive advantage and mavenship. I hope you've all chosen someone to model after, someone that you respect that you can use as kind of a mental model to guide you in where you want your business and profits to go. So again, welcome everyone. Thank you for joining us. This is the business bucket list bonanza. That was my quick review of where we are so far. And let me get into a couple of client highlights. So several of you have responded using the link at the bottom of the emails that we send. You can click on it and you can reflect and give us your thoughts. And I wanted to highlight four people. Maribel, I want to talk about, and here's the thing. So listen to this, four different people, and I want you to notice that everybody's taking something different from this. This is the value you bring to this program because everyone sees things, hears things slightly differently. And they highlight different things. So please, please continue to engage, add into the comments, respond in these emails, and it is so powerful. It really dimensionalizes everything we cover. So Maribel gets into how preeminence is something we carry 360 degrees. In the way we are a spouse, a parent, a child, an employer,

0:06:24it's not something you turn on or off when you leave the office. Maribel liked when Jay said embracing the way some prospects are. Don't fight reality. Harness it. It's really hard when you run into unreasonable, demanding, ungrateful prospects. It's easy to let it get to you, but it shouldn't. Just give them the information that can be helpful to them, explain maybe we aren't a good fit, and apply way, and then move on. So great insight, Maribel. And then DJ Valerie, Aloha, by the way. The insight is clients not customers. So really taking in the preeminence, loving the part about care and protection under a fiduciary responsibility. Don't like the word traffic and prospects and looking for ways to identify tribe with loving care, empathy, reverence, and respect. Great insight. Now, they listened to Rich Shephrin's interview two times. So if you haven't gotten to it yet, we've sent out several things that supplement this program. One was an interview with Rich Shephrin. Just so you know, it's been listened to two times, and this is some of the things. Wow, still digesting, but love how he speed reads and listens, does notes and books, highlights, and then highlights again, then writes his words, then audio, then all in one spot, keeping it all for the AI,

0:08:05the artificial intelligence to understand him going forward. Fascinating stuff. I hope I wet your appetite for something that is amazing. And also they reviewed Dr. Alan Bernard and agreed that the decision matrix that Dr. Bernard goes over, making high upside and low downside choices is a great way to think about business. Gia brought in an insight about trust. So something, you know, we've had to, now something completely different, trust, an incredible geometry of creating trust throughout my business life, from partners to vendors to clients, to employees and everyone in between. The realization that trust leads to collaboration, and collaboration is an incredible multiplier of outcome. And outcome is an incredible multiplier of income. This one facet alone is life-changing. Not just because, not just business-changing, but life-changing. Trust has always been a factor for me as I grew up in a situation that was rife with mistrust. It's something I've worked on over the years, but really in terms of me, not in terms of everyone life-changing. They also reviewed constraint theory with Dr. Bernard and highlighted it's impossible unless, you don't know what that phrase means, get in there and review that, it is amazing.

0:09:29And yes, I need to listen to that one again too. Just powerful, powerful stuff, talks more about relationships and some, so great responses everyone. And Eric said, this session appreciated pre-emptive advantage being more proactive instead of reactive. And in this way of handling details like objections before the prospect and client can even bring them up. They also got to the importance of the why. It's something I'd not really put enough emphasis on previously. And that is one I will be using more with my own business. One major insight is to have an irresistible offer and an unbeatable proposition. And from that, it's implied that our competition most likely does have resistable offers and beatable propositions. So we can look there with the intent to see where their flaws are to gain our own advantages. So again, four people, really great insights. And I truly appreciate you going the extra mile and really reflecting because your responses were well thought out, well articulated and it dimensionalizes what we do. So with that, I'd like to bring on Jay if you're ready and let's get started. We have an exciting day plan for you today. We are gonna be getting into three ways to grow a business. And maybe if you're lucky, we'll get into the advanced ways.

0:10:56And if we're on fire, we may even get into the power parthenon. So Jay, are you able to join us? Or are you still? I am able. I have a little bit of a watery, I apologize. But other than that, I am good. Okay, so first of all, I'm impressed. And as Brian said, we are, we're fielding maybe a couple dozen more people for the group. There's about twice whatever you see on the numbers that are in it now. And I want about maybe 25, maybe 35 more just to fill it out with some diversity. And we'll have that I think in a week or two. Then we'll do just a killer catch up. But those of you as Brian said, who are new to the program and didn't get in the very beginning, there's a great catch up call we did with people who did at the same scenario. They came in a little late with the first version, version 1.0. And excuse me, I think it'll be great for you to check that out as well because it'll give you some context and maybe a little further along or not as far along as we are now. But it'll give you a great sense of integrative sort of an understanding. So Brian, because I never remember, remind me what we covered last week. So last week, we left off with greatness.

0:12:33We did preeminence the week before and we went in through all those categories of entrepreneurship, vision, mission, strategy, leadership, product and service. But we have not done three ways at all yet? Not yet. Okay, well, let's get into it then. So let's get the slides up. Anybody who's followed me would know this because it's been a signature concept that I'm relatively well known for and I have for about 30 years, but I keep evolving it. So many years ago, I was constantly asked when I came to, let's call it fame, stature, relevance to tell people, they said, it would come to me, excuse my eye, and they'd say, Jay, there must be hundreds of ways to grow business. And I would respond and say there are an infinite number of tactics and concepts and approaches, but there are really only three main ways and three advanced ways. And I would show them, and then I would show them how just as we can put all of, did we use the slide that Rowan created for this when we started? Not only that, but here's something, Jay. Rowan went out of her way to come up with it into better one. And make it a little more clear. So I really appreciated the work she did. That's right, thank you, Laura.

0:14:06And why don't you make this possible? But just as Rowan Frazier, to his great credit, organized my 30 categories into Beyond Exponential into these, and it's great for the color coordination, these four modules or these four sort of quadrants, you can take business growth and put it into three primary quadrants, or excuse me, three quadrants, three primary categories and three advanced ones if you wanna go that far. But within them, there are all these methodologies. So let's go and use the slide, that's great and thank you, Laura, that's great. And put that up for everybody because it gives you referenceable context. So you can constantly remember the game you're playing in business and the factors, forces, and elements that you have available to harness. So let's see our slides. Sure. Okay. So there's only three ways to grow a business. Let's go through them. And the first is literally increasing the number of clients. So obvious one, it is an effective linear growth by itself, but it is the slowest, usually the most expensive, it is the most difficult and lower yielding, but it is important because without this, you can't actuate the other two. So let's go to the other two.

0:15:43The second is increase the average transaction value. That can be done many ways and we'll get into it. But if you get a larger unit of sale, whether it's from your existing product service or its combinations or higher gradations, whatever it is, then theoretically the profit that transaction represents is larger. What's the third one? Increasing the frequency of repurchase or utility value. Same thing, but repurchase usually refers to the collection, the suite, the offering you normally sell. If somebody buys your product or service over and over again, then that's repurchase. If you have a lot of products or services, they can buy that's repurchase. If you don't and you stop at one or two transactions, then there are many ways to extend the value of the repurchase and thus dramatically multiply the profit. Next slide. So, and this is old and we gotta fix the math. And not on this one, but on the next one. So maybe we did. This is a hypothetical company that I created years ago and the company has a thousand buyers, clients. Upon analysis, we find that the average transaction that each time they make a client buy something, it's a hundred dollars gross.

0:17:24And the average client buys two times a year, something for a hundred dollars. And thus the revenue is 1000 times a hundred times two or two hundred thousand dollars. Pretty simple. Let's assume that is your business. And if you don't yet know how many active buyers and what the average purchase is, and that can vary by the way in different categories, we're just making it very simplistic for this example. But you should find out because it'll be a powerful lever for you once you get a handle on what the dynamics and the metrics are right now. So you can see how you can play around with projections of changing it and how significant it'll be. Next slide, please. So we've taken the same hypothetical, the same hypothetical company with the thousand buyers, hundred dollar unit of purchase, two purchases a year. And we've increased each of those categories a mere 10%, which is not that hard when we get into some examples. So the thousand becomes 1100, the hundred dollars becomes 110, the two becomes 2.2, just 10%. But when you extend it, and it's actually 33 and a third, there's just a little, it's, I think it's 26, 666, 666, whatever it is. And it's pretty profound that a 10% across the board isn't 10%, it's 33%. And for many businesses,

0:18:53that additional 33 could be a double or triple of the profit, particularly if you're operating close to break even with your current volume, and you're just letting it be reactive or organic. So let's take the next slide. So this one, we did a little more aggressive growth projection. Look at the, excuse me, the bottom boxes. We took 33% more buyers, clients. We increased the average sale 25%, not a lot, but a lot more than the 10. We increased the frequency 50%. It's only one more transaction a year average. And if you have certain people buying three and others buying none, then you would average it out. But look at what the extension is, 250%. There's nothing in any of those boxes that's even 100%. No doubles, but look at the compounding effect. This is what happens when you work on the geometry of your business. Next, we actually wanted to blow your mind and we doubled everything across the board. So take a look at what happens if you doubled those numbers. It's wild, isn't it?

0:20:25Eight times, eight, it's not two X on the total, it's eight X, whoever did that. Eight X, yeah, it's at the bottom. Eight X, is that amazing? So, and what people don't realize is the majority of people in business focus so much of their attention on the first box, increasing clients. If you have a certain performance metrics right now, let's take the top line, 1,002. And you wanna grow your business dramatically, but you only focus on the first box. It's arduous. If you wanted to increase literally, let's take the same bottom. Let's say you wanted to increase that 200,000 to a million six. If you only focused on the first box, you're gonna have to get literally eight times more clients. Eight times more clients to fill that. And that means a lot more staff, a lot more inventory or cost, a lot more overhead. Whereas if you go to the bottom one, it's three quarters less expensive, three quarters less buyers, three quarters less, whatever it is.

0:21:58I mean, more three quarters, it's whatever, it's seven, eight, less, whatever the numbers are, not doing the math right. But the point is, it's so much more efficient, cost effective, expedient, and easy to use the power of geometry. And I hope that fact is screamingly clear. Next. So now we're gonna go through just a few of the ways you can do it. So the first, and we talk about it later in this program, but we'll just introduce it now, is if your business currently generates anywhere between 10 and 100% of its revenue from referrals or word of mouth, but you don't have even one formalized, systematized strategically adhered to referral generating process in place. And you added one, or you added two, or you added three, or you added four, and we know 150 different ways. We aren't gonna teach you all those, but I believe in the last group we gave everybody the videos of the referral challenge, which has an easy six or eight. And we'll give you those, but the point is that alone, could double redouble redouble again your business, and referral generated clients cost functionally nothing. They usually buy faster, negotiate less, buy more, buy more often, refer more people and cost you nothing.

0:23:38So that's the first one. Social media all forms, if you're not using it, you should, whether you pay for Facebook, whether you try to do more SEO, whether you get on Instagram, whether you participate or start a Facebook group, a LinkedIn group, whether you even, I mean, I have somebody that has doubled their psychiatric practice just by doing really interesting one minute or 50 second things on Instagram. We're hypocrites. We never use YouTube as an advertising medium, but we started doing it and we were getting, I don't know, five or six X our money. So there's so many things that you need to consider. Next, acquiring clients at a break even and get your profit on the back end. There is an adage and it's very true. And particularly when you start adding more product service offerings and find more utility value so you can increase frequency, that sooner you get your first sale, the sooner you get your second, third, fourth, fifth, et cetera. So the easier you make it for someone to buy or someone to help you buy, the easier it is, excuse me, to make profit on the second, third and fourth transaction. Hold on one second. Pardon me, I'm having, we have a lot of wind today. I think I've got stuff in my eye and my throat.

0:25:11But you can break even on the front and on the first sale many ways. One is lowering the price and making it irresistible. Two is using the profit you could make to purchase and add really valuable bonuses to the first sale to make it more desirable and more irresistible. Third is to offer larger units. Fourth is to spend deeper on advertising all the way to break even. Most people stop advertising if they don't make money. But if you advertise up to and including break even, then you're gonna get a lot more people in the front door. We have a standing offer with a bunch of our lower price programs, our $2,000 ones, our $500 ones, excuse me, one second. Or we'll run ads all day long as long as they're digitally distributed. And we'll run them to break even, meaning all I care about is if there's a sales commission that's figured in the cost of the advertising or if it's a partner, the payment to the partner. If we make nothing, we get a buyer. That buyer has the probability of buying something else. That buyer has the probability when they come in occasionally of being very large and they can become a six or seven figure profit sharing and fee paying client.

0:26:45Even if it doesn't do any of that, if I break even and it's a digitally disseminated product or a product I can sell all day long because it doesn't really cost me that much to get it and I can get an infinite supply. I get brand exposure. I get the institutional advertising value gratis. So another way to break even is to pay a premium, a premium pay of larger sales commissions or larger commissions to your service providers, your ad agency, your digital marketing agency, your copywriters to incentivize them to write ads or figure out algorithms or categories or combinations or segmentations or profiles that are gonna just kick butt on the back end. I go on and on but those are just a couple. Jay, Mirabelle wanted to get a little clarification from you. Dr. Bernard talked about the bad side of discounting, showing the math and you're mentioning that if you acquire clients and break even we can get more business. What's the balance and how do you reconcile the two? And I'm thinking that just to clarify, when you talk about break even, you're not discounting your product, are you? You're leaving it at the same level? Well, it depends. You can discount it. You can basically sell it at the same price but in the initial purchase pack a lot more

0:28:18product service bonuses or values into it. I think Mirabelle, it depends totally on the game your business is currently playing. If you're playing a game where you attract a client and that client has the ability to be worth, let's call it $500 a month to you and the average client's gonna stay for, geez, I don't know, three, four, five years and there are other either hourly or fixed fee-based services that you are probably going to do for them over time like PPE or PPP, whatever they're called loans or things like that. And each one of those is a highly profitable transaction. The sooner you get them in the front door, the sooner you win. And there's another approach that you can do and that is on break even. You can do something that doesn't break even and actually it's an investment but it's a deferred investment meaning you're not gonna get money back today. You're gonna get it in 60 days or 45 days or 90 days but the return on investment is huge. So it might be buying people a two-hour consult that is worth $500 but knowing that every time you do 10 of them, you're gonna get four clients that are worth my hypothesis, $6,000 a year. So that's $24,000 a year over five years or whatever the life is not counting upgrades

0:29:54in services and revenue. So there's all kinds of ways to do it. There is not a right or wrong. And in fact, you can have multiple stratagems in these three ways working for you concurrently. So there might be certain media or certain sources, Mary Bell or everybody, that upon analysis and analysis is key, you see have such a high residual value that getting that category in the door is worth a lot more investment because the yield, the return on investment is so much higher than other sources. Maybe a kind of a media, maybe referrals are 10 times better than Facebook leads or Chamber of Commerce leads. And you have to do an analysis. And this is giving you a, what do they call it, a quiver of arrows that you can shoot. Some are very pointed, some are dull, some are very, very, very precise for target, some are hunting and you have to figure it out. There's not a right or wrong. I'm giving you this spectrum for you to integrate into a hybrid that becomes the specific integrated and personalized strategy or strategies you use. Hope that helps and doesn't give you a headache.

0:31:29Next is risk reversal. No, no, no, no, I'm at next on the list. We didn't go through it at all yet. Risk reversal. This is very, very powerful. And if we can find it years and years ago when I was doing seminars, we published a book called Something Like 501 Amazing Success Stories that'll Change Your Life or something like that. And these were actual case study testimonials from people who had gone to my programs or worked with me. And there were hundreds of them. And we asked them to cite specific case study examples of things they had done from trainings or methodology I had shared and what the impact had been to their business. And something like 25% of the success stories were based on just one shift and that was altering their risk reversal. They guarantee the way they took the risk out of trying to start a relationship with their company or their practice or their organization or their service organization. And the concept of risk reversal is very interesting. Anytime two people come together for any reason, whether it's commerce, business, friendship, love, anything, fraternity, community, one side is always asking the other, knowingly or unknowingly, implicitly or explicitly, consciously, subconsciously.

0:33:06And don't ever say unconscious because that means you're in a comatose state to take on all most all or even more than all the risk. What's more than all the risk? If I'm trying to get you to buy my SaaS system to manage your accounts receivable or your CRM or your payables or your payroll and anything goes wrong. It's not just the $500 a month you're paying. You blow the totality of control in your business. So when there is risk, which there is always, then you have as a byproduct apprehension, tentative reservation, equivocation, contemplation, inaction on the part of your target audience. So if you can take that risk away, you make it easier for people to say yes and no. And when I did very expensive, and probably when we do the very expensive version of this, we will add risk reversal. I didn't to this because I don't want a lot of people. I want the right people who are in for the right reason and are willing to exchange that for 66 and 2 thirds discount and the right to participate in tons of these experiences before I get the live one ready. But when we did seminars in the past, they were 15 and $20,000, 25 years ago.

0:34:41And that's a lot of money. And the way we got thousands of people, when we did, we got 12 or 15,000 people into the $5,000 ones. And we got thousands into the 15 and $20,000 ones. And we did it by taking away the risk. We would say to them just as an example. Before you even decide, we will send you a short course primer on Jay's fundamental thinking. Well, actually in the marketing itself, which was a 16, 20 page sales letter or on page sequence of ad pages, it was huge, it was a supplement in the in-flight magazines, we would give four or five actual case study examples that people could try as a test to just prove to themselves that these principles work. And we'd tell them that. Plus we had in our ads and our mailing pieces, three pages of testimonials of people representing a broad spectrum of industries and yields and results. And we actually had the daytime phone numbers people could call. Those people were that thrilled with the outcome we had given them. And we asked people only to call if they were serious. And that was a final denominator. We had when they called us, we would send them a short course primer before we would even ask them to commit. When they committed before they ever came to the program,

0:36:15back then we would give, we were the first to give a real value, a $2,000 course that we asked them to self administer before they came because we knew if they did and they applied even a fraction of the methodologies taught in this simple foundational course, they would get an improvement far and away more than the $15,000 or $20,000. And we told them that. Finally, they would give us a check or credit card and we would say we will not deposit your payment and consider your participation binding or committed or final on your part until you've experienced 50% of the entire program. Meaning you'd have to go, it was five days to two o'clock on day three of a whatever two o'clock is is 50% of the whole program. We would do sometimes 86 hours. And if you didn't feel you'd already gotten more than 15 or 20,000, some of them were 30 actually, we'll give you your money back. Or we won't deposit your check, excuse me, we'll just tear it up. And finally, if they prefer, we would let them make 80% of the pay, 80% of the cost in very affordable payments after they went home and had learned everything so that in real terms they were paying after they profited. And that was very, very effective.

0:37:49But there's full risk reversal, there's partial risk reversal, there's better than risk reversal. Full risk reversal is when you basically give them a chance to experience whatever your products serve as people are in some form. And if they're not, either they're not happy, which I don't like, I like to denominate specific outcomes they can expect. If that doesn't happen, they have a right to a refund. Today when we organize for our clients or for our self risk reversal, we stipulate performance on it, performance that they have to do too, because it's not fair for me to be responsible if you don't do your part. You can do better than risk reversal, meaning if you don't get whatever the outcome is, you'll get your payment refunded, but you'll also get either to keep a very valuable bonus or you'll get a check for $200. You can have partial risk reversal, which is you can stop and get a pro-rata refund if you've committed for a year and you don't like it after 60 days. And 60 days is, what is it? It's two, well, it's a sixth of the process. You would get five, six of your money back. I can go deep in, by the way, I can go three hours on any one of these bullets and I don't want to, because I just want you to see how much is available.

0:39:18Next, host beneficiary. We also call that power partnering endorsement, strategic alliance, co-branding. And I've done billions of dollars for myself clients and my colleagues have too, by teaching people how to find other companies, influencers, organizations, media that had the same profile of prospective buyer that you were targeting and instead of paying for advertising, work out ways that they will apply the full credit, credit meaning, not credit meaning cash, but the trust, the integrity, the relationship they have with that target audience to you by endorsing you, by partnering, by introducing, by referring. And when you do it right, it can double, redouble your business almost overnight for no fixed cost. You'll only pay a share of the revenue after the revenue is generated in your bank. So it's very powerful. Advertising, if you don't advertise, yet this weekend I did a consult with the top person in the world in a category. And he's been fortunate, most of his businesses come from word of mouth or from a group of licensees, but he's never really had to advertise. And now because of COVID, ton of interlopers and upstarts are taking away his market from him and he's never advertised.

0:40:54And we went into the logic of advertising, not in lieu of what he was doing, but as an additive, as a multiplier. And I showed him that there's certain places he could advertise that would be very profitable. And if they weren't profitable initially, he had I think eight levels of product service offers on the back end. And that if he only got advertising exposure that kept him at a higher status, then his competitors, the new upstart competitors, that was good and I made my case. But I had to work for an hour because he was hell bent on just doing what he was doing. And I showed him that as one leg in his growth, his geometric growth strategy, this was powerful. Same for you, if you're not advertising, you add it. And you don't care if it doesn't bring in as much profit, if it brings in sources you aren't getting and those sources can be worth lots of repeat purchases that are very profitable, it's great. Direct mail, text, telemarketing, direct mail still works. In fact, it can work better. You don't have as many names that you can rent or access, but now with segmentation and some of the really, I guess really sophisticated ways people have found to identify different profiles, you can get lists that are very responsive

0:42:19and they're not as prevailed upon. And unlike digital marketing, you go right into their home or their office or their desk and if they open it, they're engaged. Text messaging, they're really very effective. I don't do it, it's a little intrusive to me, but it works. Telemarketing behind, telemarketing as a lead generator, it still works, it's not as efficient, but if you're selling very, very high-end, we have a service we are using and they target very highly targetable and very highly viable companies to set up meetings for us. We pay them $400 a meeting because every time they get X number of meetings, if we keep our profiling and our target correct, every X number of meetings, three, five, turn into a six-figure client. So it's a great deal if three meetings for $400 that are generated by phone and that's how they do it, produce $300, $1,000 in recurring income for me every year, that's a great deal. So be willing to experiment. Next, okay, running special events or information nights. And this can be webinars, this can be high level, well, in the pre-COVID days, it can be a seminar, a dinner seminar, a luncheon seminar, weekend event, it can be a sponsored event that another organization does, which is an integration of the host beneficiary

0:44:12that we had on the previous slide. It can be introducing your product, it can be stuff on how to do it. My wife has spent, you can charge for it, you can not charge for it. My wife buys all these cooking classes that are sponsored by wineries. And she just bought Charlie Palmer, who's a restaurateur, chef, restaurateur, his, and she buys the wine that they offer with it. And she buys the beef and the other meats and fishes that they sell that are shipped by partners of theirs. So there's all kinds of ways to do this. And if you have expertise, or if you have vendors with expertise, or if you pay an expert to do it, or you know an expert who'll do it, or you find an expert who will do it, and you give him or her a percentage of the buyers that come that you're able to sell after people come to your event, or you get your existing buyers to invite people to come that they know, it could be huge. Acquiring qualified lists, this is really important. Most people don't really look at the profile, they don't try to match it, they don't try to find lists, they can mail, they can email, they can call, they can, you know, do all kinds of things online. And I'm not that sophisticated online, you have to go to somebody who is,

0:45:43but there's all kinds of ways to do it. Defining and deploying your USB, the clear your distinction, your preemptive, your preeminent positioning that can be clearly expressed in a way that resonates the value, the benefit, the advantage, the payoff, the protection, whatever it is, the enjoyment, the enrichment that the target audience is going to get, the better you are. When I started, very simple. My USB was, I find hidden assets and income sources, over-look profit opportunities, underperforming revenue activities and under monetizing resources and relationships inside and outside your business that can be rapidly turned into windfall, significant new sources of supplemental profit, then I turned those sources into ongoing, predictable revenue streams for no risk whatsoever on your part. Now it's pretty exciting, I should probably go back to it because I just stopped using it when I became more esoteric, but it resonated in my training programs and my product sales, I didn't do a lot of consulting when I was using it, but it was very powerful. Next is increase the perceived value with education.

0:47:19I'll do it late, well actually, I'll do it now. We didn't talk, or have we talked about the Schlitz beer concept, Brian? I don't believe we've done it in this version, no. Okay, so there is a concept everybody that is called preemptive marketing. And the best example, and it defines and denominates and demonstrates and personifies that third bullet, excuse me, that fourth bullet. And it was successfully introduced back right after prohibition, I think it was in the 30s by someone that influenced me monumentally, Claude Hopkins, and all of you if you wanna learn, I don't know if I've given this out, but there's two books that he wrote back in the 30s that became foundations for some of the best marketers that exist today and some of the biggest agencies. One of them is called my life in advertising, and the other is called scientific advertising. Scientific advertising summarizes his biggest distinctions and concepts. My life in advertising chronicles what he went through to discover and master those. So you have a really rich understanding that connects, nevertheless, he introduced and was the master of what's called preemptive marketing. And the easiest way to describe it in its magnificence and its wonderment is to tell a true story from his career.

0:48:58So right after prohibition, some numbers of dozens of breweries came into being. And all of them were running ads that fundamentally said the same thing. Our beer is pure, our beer is pure, our beer is pure. And nobody really had a big advantage. And one of the companies that were brewing beer back then was the Schlitz brewery. I think Schlitz is still out there. I think it's owned now by Budweiser, but I'm not sure. Anyhow, Schlitz was number nine in a market of some day, I don't know, 25. And they were wanting very badly because they really wanted to be a player. And they didn't know how. And God Hopkins was this mythical advertising marketing man from Chicago who had transformed overnight many, many companies. And I admired everything I learned about it. So they called him and he comes down to Milwaukee, which is where their brewery was. He always studied the company before he accepted them. And also before he figured out what he was gonna do for them. And he wanted to learn what they did, how they did it, why they did it, and how what they did perform. So he gets out of his car and there this brewery is right on the banks of, I think it's Lake Michigan, is it Brian? In Milwaukee? Yes, I believe it is Lake Michigan.

0:50:26And what was notable to him was back then, Lake Michigan was blue as you wasn't dirty. And yet they had two 5,000 foot Artesian wells sunk, not 500 feet off the shores. They were not drawing their water from the lake. He was really mystified and fascinated and he asked, why? And they said, because to make our beer, you need a certain mineral content that needs to be water that comes up through the limestone and things like that. Fascinating. Then he goes inside and they introduced him to the mother yeast cell that was the result of something like 1,428 different experiments to find the right embodiment of bitters, wheat, foam, coloration, taste, all these things. He was fascinating to him, really fascinating. Then they took him to the distillation room where they had nine feet thick plate glass walls. And they took that Artesian drawn mineral enriched water, pardon me, and they vaporized it and liquefied it, vaporized it and liquefied it, not once or twice, but something like 10 times. And he didn't understand that at all. And he asked and they said, well, even though it has the minerals we need, it has certain impurities that have to be purged and this is the way we do it.

0:52:01That was fascinating. Then they took him to the bottle sanitizing room where the bottles before they were filled, because in my 30, it was Jesus 60 years ago, they were sanitized something like nine times, twice with 2,000 degree live steam, twice with chemicals, I don't remember the other ways. That was fascinating. They said they had to completely and totally vanquish all bacteria or impurities from those bottles or contaminants. Then they took him to the bottling room. Pardon me, my office is right. Smack dab in the center of a beautiful, beautiful, private airport. And I love it when planes come out, so pardon the distraction. Then they took him to the bottling room and he was amazed at the fact that even with all those steps, they rejected one out of every 10 badges for impurities. So now he's at the end of the tour and he is incredulous and amazed. And really, really, what's the word I would use? Excited. I'm going to say he turned on. And he says, we have to tell the world how you make your beer. And they said, but all beer is made that way. And he didn't miss a beat.

0:53:35He came back and said, OK. And yes, but the first company that tells the story will gain preemptive advantage in the minds eye of the market. And they will see them as the only people doing it. And anyone else who replicates it as an interloper and somebody who's trying to knock them off, he did that. And in literally six months matter of record, Schlitz catapulted from number nine to number one and they stayed there for years. So that's called preemptive marketing or advertising. And it's the denomination of how that fourth bullet is expressed. We one time had a retailer and they did very high end handbags and shoes. And I analyzed and computed all the miles they traveled to go to shows and go to show rooms. I computed all the steps they went up, all the hotel rooms, nights they slept in, all the numerical quantity of shoes they evaluated, all the criteria that they established that had to be in existence for them to give a purchase order, how few they they accepted, how many they rejected. And I denominated all that for them and they grew like man. But what I what I shared was the same way any high end seller of shoes or handbags would have done it.

0:55:08Anyhow, that's that public relations, that's media and it's can be it's called or in media. It's it's stories about you. It's articles you publish. It can be blogs you do. It can be podcasts. It can be right now. I'm on but I don't do a lot on this new platform called Clubhouse. It's just things that get your brand out there and have you associated with expertise or something positively provocative or positively polarizing. And there's just a myriad of ways to do it, improving your sales skills. Everybody who has anybody that deals with their public buyers, whether it's salespeople, reception, customer service, technical support, repair, onboarding should be formally trained and consultative advisory selling because they're all selling. And you think you have a preemptive and a permanent hold on a buyer after the first sale. You do not. Everyone should keep advancing enhancing, fortifying and enriching the relationship. And when you become advisory sales trained, you basically do that. But every sales person that is trained that way will instantly improve 10, 20, 30%. Next, qualifying leads up front.

0:56:47I don't like free occasionally our advertising people and our staff will write free all over it. I don't think that has any value anymore. I think if you buy somebody something, if you value it, if you value the exchange, what they have to do to gain it. Some of you came from the screening we did two or three weeks ago. We had 20, 2000 plus, I don't remember the exact number of people who registered in only 550 show them. We're going to do another invitation and we're going to make it very, very more restrictive. Because I don't want a lot of people registering to don't show up. I want far less registering who do show up and stay because they are truly quality based and interested and qualified if what they hear makes sense to avail themselves of whatever it is we offer. Most people think gross response, not gross meaning appalling, but quantitative is the denominator. Very, very often, most often in my opinion, unless you're doing something just mass and low end, quality always trumps quantity. Quality is a more important factor than quantity. But you don't get quality if you don't start with better targeted audiences, better restrictions or communications to turn off the people you don't want and turn on the ones you do.

0:58:41Making irresistible offers, this is pretty interesting. I can get into this and I'm not going to in this session at the end if we have time at the end of the 13 week process. If I have time we can get deeper into things like this and Brian, keep track and remind me. But the key here is that implicitly and obviously you want to make irresistible and unbeatable offers. But upon analysis, when I have somebody on stage or on a video conference with me and we analyze what their message is to market, what their value proposition is, what their distinction, what their comparability is, what their risk reversal is. It turns out they're making resistable offers and beatable propositions. So the first thing is evaluate whether or not you are too. And if you are changing, you can experimentally test any variation, any alternative reality and see if it produces higher commitment, higher conversion, higher size purchases. And if it does, that's what you use. But evaluate because most companies, most entrepreneurs, most professionals make irresistible, not irresistible, but resistable and beatable offers. Communicating more to get more referrals.

1:00:12The more you help your existing buyers know all the different products you offer, all the different scenarios, those products appeal to all the different places your buyers come from all the different people in their lives or their businesses that might be appropriate to become clients of yours or at least evaluate becoming clients. The more they get clarity on who and where and why they can refer. It's just very simple. The fourth bullet, one, two, three, four, is delivering higher than expected service. First thing you want to know, and I think I may have boarded on this when we talked about one of the other categories earlier, almost none of the clients we get can comprehensively and meaningfully tell me all the elements of comparability, differentiation, superiority in their various directed indirect competitors. Direct mean to people doing the same thing as they. Direct means people selling other product or services that do the same thing as the product or service category there. If you do not know what the norm is, if you do not know what the people getting business you're not are doing, if you do not know what alternative providers are doing, how can you beat it? So there's the next thing. A better highlighting reasons why they will benefit from the product or service.

1:01:47I think I've mentioned this, but the concept of reason why is a foundational thread that should be woven in everything you do. What's the reason I should buy your product and not something else? What's the reason I should be comfortable taking action? What's the reason I should add other products or services to my purchase today? What's the reason I should keep purchasing? What's the reason I should refer? What is the reason I shouldn't contemplate? I should feel comfortable buying now. If you don't have an answer, there's a great homework assignment. Next, okay, this is the second category. Training your team in advanced techniques to upsell and cross sell. You don't just do it. You have professionally trained advisory salesmen and women who know how to advocate the value enhancement that adding to the sale or moving up to a larger unit of sale or moving up to a higher quality or gradation of product or purchase will benefit the client. Social media is another way of getting your people buying more because you can make your case more. You can make your credibility more so that when they do respond, they already have enough trust that when you recommend or encourage them to add or continue, they are trusting

1:03:21and confident in doing so using point of sale promotions. Depending on how you sell, that would be a pop up or whatever comes on when you start to leave or when you have completed your normal purchase online in a direct selling, it would be adding at the end saying, oh, and by the way, if you wish you can add today another course on this which is normally $2,000 and because you have already spent four, we're going to let you have it for an extra $1,800 more. If payment is a problem, we'll add it to the end of your payment cycle. So it just is five more payments, not any bigger size payments. In a quick mini-mart like 7-11, it's all the stuff they put on the counter that you buy after you get your milk or your bread or your Coca-Cola's or your beer, bundling complimentary products and services together. If you know someone is going to buy a certain product or service in addition to yours before during after instead, having those all bundled together and making a combination offer will get certain people to buy all of those from you and not someone else because a lot of people check out different progressive companies in the buying cycle. Maybe they buy something first before they buy your product service, but they might check

1:04:55you out before they buy that first product. If you're offering a bundle, you'll get more. When they buy from you, if you offer a bundle, you get a larger size average transaction which could put in your bank accounts, use my mouth two or three times the profit. Increasing prices. We've done enormous, expansive experimentation and pricing variation and just changing the price sometimes can double or triple buy it. We'll buy in and it can double or triple profit as well. So if you don't test and experiment, you might be grossly under yielding what you could from every transaction, changing the profile of the products in the service to make them more up market. If you make your product or service is more high perceived, more qualitative, more exclusive, they're going to have more people buying them and buying combinations. The last bullet is I'll call it the Costco model. I mean, I don't know how many people really need 10 bottles, 10 giant sized Boho CFP butter, but if they're packed that way, the only way you can buy it when you're there and you're excited, you buy 10 bottles of peanut butter, you probably wouldn't buy 10 normally in a year, but now you buy 10 every time you go to the store. So it's offering larger units of sale.

1:06:27Next. And this is the next one. This is the frequency, the third category. Offering a back end line of products to return your clients to purchase. And if you don't have any, you've sourced them from other people or you get white label, you get the right. So you do licensing royalty deals or you create social media retargeting groups and offers and upsells afterwards. It's very big. I mean, it's everybody does it. If you don't shame on you communicating personally with clients to maintain. I can't see the words of positioning or positive buying relationship. The pictures. Positive. I got it. With clients to maintain a positive buying relationship. Yeah. Okay. I don't need to look at myself. I just, I was looking, it was cutting it off. Yeah. I mean, the more you communicate personally, the stronger the bond and it's more fortified of the relationship. Any of you that have really good best friends, it's because you probably communicate frequently with them and the bond is very strong. It's no different than buying relationship. I mean, you can't do anything other people's products to your list. You can just find other complimentary products that either our extensions are related to what you sell or just are things that the profile of your buyer buys and introduce them.

1:07:53And if you go into a holistic world where buyers buy a lot more things than just yours, there's a broad swath of potential product service offerings you can offer. You can make normal more profit doing that than you even make on the front end. It could be a whole new business model running special closed-door events. You can do special offerings to your existing buyers, certain product services that aren't available, new products that are going to be offered, not unlike what we did to our database and inviting them to be on this beta version that is preferential, that is going to be very much more expensive. But by doing it to my list, I had no real sunk cost other than what I'd already spent to bring them in. So you guys that came from my list are probably twice as profitable as you guys and girls that came from Facebook or Instagram, pre-framing and programming people to buy over time. If when they buy the first time, you're marketing, you're selling, you're positioning, you're interfaced with people and your team salespeople or customer service, establishes very concretely in the mind of the buyer that you are going to be there for them over time or if you're being preeminent, that the greatest benefit they'll get is to buy this every 30

1:09:31days or every quarter or you're going to be checking in with them every 60 days to see how they're doing and what other than introduce new product services your company is making available. If you do that, you're going to get more repurchases. That's it. Price inducements for frequency. If you sign up, if you buy, I guess supplements are a good example, might be $69 if you buy a static bottle jar, but it might be $59 or $49 if you sign up for the every month automatic delivery and billing purchase. If you say, well, at $69 one time, I make maybe $40, but at $49 12 times, I make maybe only $25, but $25 times 12 is a lot more than $41. Okay, next. So a happy birthday, Josh. We missed that in the comments, Jay. Carlos put together a few really great reason why. So make sure you capture that in the comments and think about that. One of the reasons why in the first 10 weeks, we had 65% of the participants in the last program have exponential results is because they did activities like this. They identified every application and implication of what Jay just covered and they chose to work on one.

1:11:07And they also celebrated their progress and wins so that you can see how other people are dimensionalizing and putting into practice these things. So with the, oh, Jay, can you do me a favor? Can you look under those big bay windows and see if one of those windows is open? It is. I know it's open. I opened it. Okay. All right. It is letting in a little bit more than usual. And I realized that it's president's day. So a lot of these, a lot of these amateur pilots are out having a blast today. So yeah, if it gets worse, I, it was very hot when I walked in. I have a really cool, cool in the visual term office, but it either gets too hot or cold. Or too cold and desirate. My assistant was worried because normally I'm cold today. I was hot. If it gets worse, I will close it, but I did purposely open it for my own temperate better meant. Let's real quickly go through the three advanced ways to grow your business. And these are not recommended until you first of all optimize as many of the, as the previously explained methodologies. But these are really cool. Once you do it. So the first is you penetrate a new market every year. It can be a niche. It can be a a market that is a logical source. It can be a unique interpretation or application of your product or repurposing.

1:12:39We are, we have a new partner. I'm going, I'm doing multiples of that. We've gone back into Japan now. We're getting ready to go into two different countries in Latin America. We concurrently have a partnership on taking preeminence to professionals. I just made a deal for you, Brian, that I'll explain to you and Michelle with someone who is a specialist with one niche of trust and will state planning attorneys. So we keep doing this because they end up being niches. We're doing something else with litigation attorneys. So you can constantly penetrate a new market next. Okay. Ask yourself what market is the most logical first, second, third. Why? How would you apply your product to service? How would you modify it? How would you package it with somebody else? Is your product can be a full on product? You go to that market? Okay. I'll show Brian because I hear it one second. You're welcome, Josh. And David, I'm glad to see that you are picking up on the multitude of ideas. And remember, Jay's not expecting anyone to implement all of these all at one time. It's to give you the range to choose what would be best for you.

1:14:18That's the lowest risk. What's the highest, you know, perceivable outcome? And it's okay to make a mistake. Just keep implementing. And eventually one of these will just skyrocket your business. So back to you, Jay. Right. So, you know, how would you apply your product to service differently, but your product can be a number of things. It can be a product on its own sold directly or by modifying it to a market. It can be a product that can be packaged in with other things somebody sells to a market. It can be a product of service you offer to people in other markets who use as a lead generator or a bonus with what they sell initially to get their audience or what they would sell for an upsell or a resell or a secondary or third product. So you have infinite possibilities. And who has direct access to those markets? How do you mitigate the risk of other people doing collaborations with you if you're going to go to markets and you're going to shortcut it? If you don't want to go and just outright advertise cold and expensive in a market, you try to partner in new markets. How do you do that? And how do you help that intended partner be comforted to do business with you? The next way is introduce at least one new product or service every year to your audience.

1:15:52And then you can take that product or service outside, but you bring it inside or you create it or you acquire it or you private label it or you create a variation by taking someone else's and modifying it. But if you add one more product and that increases the number of purchases every year or the number of lifetime purchases you get by one more, but that product has a $500 profit to it or $1,000 profit or even $100 profit that could double or redouble the profit potential that a given buyer represents to you. And if you look at the fact that if you're in business, you are in essence an investor and you're investing in assets, yours or others, your assets could be buyers, prospects, clients, readers, listeners, followers. And the return you're trying to get is the yield. And when you can get alpha, which is an outsized yield by adding one or two new products or getting them to buy more things or getting them to refer more people, all of those multiply the return you get on the investment you are making in those assets. Same thing with your team members. If an asset is a sales matter woman and you teach them or you train them or you get them trained and consultative selling and now they're 10% more effective, the yield that that asset

1:17:30is producing for you is quite profound. It goes all the way through the food chain. Next, can you acquire one that exists? Can you private label, create a hybrid? It's sort of why I already said that next. The third way is purchasing your competitors business or assets every year. This can mean many things. Says competitor, but it does not have to be competitor. It can be complimentary things people buy before, during, after. It can be alternative things they buy instead. You might get a lead that doesn't buy a prospect that doesn't buy opt in that doesn't buy. And if all you sell is one thing, but you know they are going to buy something, not your thing necessarily, but you have other things like yours and you compete against yourself or you even have arrangements with competitors when you can't sell a prospect yourself or you when one of your buyer stops and my analogy in this is if you sold a supplement for weight loss and you know that people are buying not just your supplement, but probably others. And when they stop buying yours, they're going to buy other supplements or they're going to buy equipment or they're going to buy pelotonts or they're going to buy personal training or they're going to buy group virtual training or they're going to buy books and you made all

1:18:56those available. You could double redouble redouble again what a prospect or buyer was worth to you and make money on them when they didn't buy or when they stopped buying your product or service. Okay, next when you do this, I believe and and we have a colleague Roland Frazier who teaches something called Epic. I don't know what Epic stands for. I can't remember. You might remember Brian, but it's how to buy businesses with no money down and with very little risk and have them buy themselves. I think that's very possible, particularly if you're consolidating competitive businesses into yours, you can make somebody who's got a old business, but it's no longer very successful and they're working very hard to make very little. But if you took it over and consolidated a lot of the functions you already were paying for, you could make what they do far more profitable so you could pay them on a earn out or on a percentage of sales a lot more for doing nothing and you could take over their URL or their database or their product service offering or their advertising and do a lot more with it. Maybe they only sell one thing and by adding your stuff, you could double or triple the value of a buyer. There's all kinds of things you can do.

1:20:21I like to buy assets instead of businesses because you don't buy the liability and really what they have that you want. If the name is good, you can buy the name. If the URL is good, you buy the URL. You can buy the phone number. You can buy the product suite. You can buy the service suite. You can buy the salespeople, but you don't have to buy the whole business. So a lot of opportunity there. Next. We, one time, I almost pulled this off and it was actually very tragic. Before computers became marginalized, they were only sold to businesses by professional sales organizations and they made very good margins on them. There was a company that was trying to recruit me to help them, a potential client, not an employee. They were doing about $50 million and they had about 30 salespeople or 40. I can't remember now. But interestingly, they were starting to lose money because they'd taken some business gambit that didn't work out and they had a lot of debt and they were contemplating bankruptcy. They had the average sales person was doing about $1 million a year to their clients and these, this company had a finite number of buyers of companies that were buying their computers and their related accessories and equipment.

1:21:59And I was feverishly, even though we didn't have a deal yet, I was feverishly trying to repurpose their assets and their assets to me were their relationships with the clients and their salespeople. And I found somebody who was willing to pay money for both of those. He would buy the buyers, the clients for a cash purchase plus a residual override and he was willing to buy the salespeople and hire them. But before I could get that company, that money so that even if they went bankrupt, they had cash, they terminated their relationship, they fired all the salespeople. And in essence, they announced all their clients that they were going into chapter seven, which was liquidation, not reorganization. And they lost all that residual that I could have gotten. So there's a lot of different ways to think about this, Brian. Next. So next couple of slides, I think it is our assets that you can think about. Yeah, we've talked about, but just read it. I don't need to read it. Yeah, I mean, anybody can read this. And then we get into. Yeah. And what do people buy before, during, after instead of your product or service? Next, that's good. I love these slides. Yeah. And if you're buying a business, you can actually overpay.

1:23:24First of all, most small businesses, if they're small, don't ever sell because there's no value in them to other people. But you can pay either a permanent percentage of the revenue for either the URL you buy, the products you acquire or services, the buyers or prospects you acquire, or you can give them a cash offer that is paid on terms out of the proceeds. You can let's say the market value on a business is two times e-bira. You could offer five as long as you agreed to pay it at 50% of the profit that you generated from that acquired business or that business's assets because you're always making money and you pay. Who cares if you pay, you know, two and a half or three times market if every time you write a check, you've made that same amount yourself. So it's a different way of thinking. Next. And then before we move on here, I think Josh captured something really great from the weld development space and a word that I would add to his response is iteration. He was saying, I think it's applicable when it comes to implementing the different ideas, tactics, strategies, philosophies from beyond exponential. Is that of progressive enhancement? How can you progressively enhance your business in implementing the simplest version of any

1:24:59of these with the least investment of times, resources, energy, the lowest risk and the highest yield. And then rinse and repeat as you level up, level up, level up, iterating after iteration. Then you can start to think of more sophisticated versions. Again, rinse and repeat. So great. That's great. Thank you. All right. I think we're done with today's session as far as output. Now what I'd like to do is see what kind of input we can collect. And by the way, they're set for two hours. But if I get to a point where it makes no sense to introduce the next category because it'll take too long, I would rather get from you whatever perspectives, insights, realizations, aha, epiphanies you have and questions if they're relevant. And then if you don't have any more, we have time left admonish or encourage whatever the right word is, you to use that time to review and reflect on what we have just covered and make yourself action steps and prioritizations because the biggest problem that I have found in doing virtual training is the moment it is done, the participant goes right back to his or her status quo and doesn't have or take the time to deeply reflect, plan and act. And then it ends up being more intellectual entertainment than transactional enhancement

1:26:34for the performance of the business. So you have to use the time you have to take action to think it through to really embrace it. All right, Brian. So let's get feedback. All right. Let's start with Jim. Hey, good morning. Hi, Jim. How are you? I'm good. How are you? Very good. Now, what kind of do you sell total systems? I mean, everything for everybody? Yes, for the most part, security systems, video, what's the average sale? On the low end, about $300. And on the high end? Thousands. Very good. All right. What was your insight today? Well, you know, the biggest thing, especially on the low end, is selling or acquiring a client at a break even, as you know, as we discussed before, our profit is really on the back end on the maintenance and the revenue. Yeah. So we sell the system and acquire the client at either a break even or in some cases below cost, knowing that it's going to take, you know, X amount of months to break even and then show a profit. But at the same time, it also gives us an opportunity to introduce other products and services that we can, you know, increase that frequency of repurchase. Yeah, it's great. That's very good. No, you're right on the money. It's very good.

1:28:05Thanks, Jim. All right. Let's bring on Maya. Hi, Maya. Hey, Jay. Thanks again. Great session. I'm great. I'm good. I like your little meme. Thank you. I was just what I really loved the bit about buying another business, especially if you can offer 5X, 10X, whatever, just as long as the revenue pays for it. I run a small digital marketing, like literally fledgling. I have two clients. One pays a lot. One pays very little. If I wanted to expand and wanted to look at opportunities, I mean, for one thing in this market, marketing businesses are doing well, not badly. So is there scope to do something like this? Yeah. I mean, there could be ones that are doing, I mean, two things happen. Somebody gets tired. Somebody has a little marketing agency because there's lots of little marketing agencies. And if you have the ability to, you can even buy it partially, you could tap and find somebody who's really good at selling, but they have to do all the work so they're self limiting and you could. That's me. That's me today. I have no time. Well, then you can buy the opposite. You can buy the worker bees, but you have to find where arbitrage lies, where the gap is that you can fill. But believe me, if you ask how many small, localized, regionalized, vertical people, there are,

1:29:42you know, somebody called me this weekend for help and he's got one client and the client pays in five or $6,000 a month and it pays his rent and it's sort of an avocation because he does something else. But you mean it's a numbers game if you're small and you don't want to do it. But I talked to somebody two weeks ago that is in a specialty version of digital marketing agency and he was trying to buy his related competitors and he was not very good at negotiating and I had to walk him through pretty much what we're talking about here and it made a profound difference. So yeah, I mean, you just have to know where to target and then start a dialogue and know that you're not going to win on all of them or many of them, but it's a numbers game and you can win because everybody at any time is going through dynamic flux. Everything is changing. People are growing, they're stuck, they're tired, they're finding alternative things they want to do, there's thinking, yes. Is this like people going around offering homeowners to buy their house? I mean, do I just broadcast to me a little more strategy? But yeah, I mean, people would do that. It's not the most efficient, but they do. They still do it. I mean, I was at a group meeting four or five years ago where these were people that did

1:31:17it big time and that's all they do is try to offer people and one of them was making $3 million a year playing the numbers. So I mean, you could do it differently. Maybe there's a platform for independent little agencies you can find and you could maybe run an ad saying we buy small agencies for big money. And let them all contact you and then start negotiating. You can do anything you want. No rules as long as it's legal. I like that. Thank you very much. You're welcome. Brian. Well, let's bring on Jeff. Hey, Jeff. Hey, good morning, Jay. So great to see you. Good to see you. Isn't it fun? How we iterate every time we do this? It's getting better and better and tighter and tighter. Even if I've heard something from you 10 times over 20 years, it's getting deeper. Kind of like what John said, there's that other iteration. Yeah, if I've been doing a lot, I've had a lot of time to think about it and a lot of scenarios to apply it. So it gives me a lot more context and I'm at a point where it's more it wasn't that important to me earlier for many years to share it. Now it is. I mean, as I've gotten older, it's important for me to. I hurt seeing people make their plight much harder and less less rewarding than it should

1:32:39be for everybody. So yeah, thank you. What's what's wrong with the feel you. So the big insight I got as I'm working with more accounting firms and making available are growth strategies and platform to them. So kudos to you. That was back in June that you had suggested that and we're moving towards that. But the next level is what else can benefit them. So what I got clear is that what there really is a need for is to track a lot of their KPIs, their data, their business intelligence and really making available through a strategic alliance. Those services and offering that as a service to these accounting firms that don't have dashboard and key KPIs. They're just doing the normal bank reconciliation general ledger P and L. But to add these levels of service help them to increase their revenue, help them to provide a whole different level of services at a much higher level to smaller businesses on a very affordable basis. So this is very amazing. It's great. Yeah, I love it. Thank you. Next one. Excuse me. Let's bring on Chris. Hi, Chris. Hey, Jay. This is Chris from Austria.

1:34:14How are you? I'm fine. Thank you. I wanted to say thank you to you because you told me to increase my clients and the average strength, excellent value as well as the quick fancy of pro-quacing. And I have to tell you before I started with you last summer, my highest package of coaching hours was two hours for 240 euros. And I have to tell you that last week I have just sold my first 10,000 euro coaching my life. Thank you. That's wonderful. Thank you. That's great. Thank you very much. I'm thrilled for you. Yes, it's great. What are we learning here? That's good. All right. Great. Thank you for sharing that. I appreciate it and its validation. And most of these techniques are immutable, but you have to believe it. So ideology is really critical. If you don't have the ideology, you won't be able to execute on the methodology. Next one. Thank you, Chris. Thank you, Jay. Let's bring on Maribel next. Hi, Maribel. Hello, Jay. Thank you, as always. So the takeaway for me today is we're already increasing the number of clients. And I think we're growing at capacity. We're picking up as many clients as we can handle on the onboarding. That's great. Where are they coming from, Maribel? You know, they're coming from referrals online, LinkedIn, email marketing.

1:35:51Great. That's great. So we're already doing that. And by the way, it all started after I started working with you. I'm so thrilled. Yeah, it's good. Thank you for your engagement. So what you're inside today? So we're already doing the increase number of clients after we get to a certain number of clients. I'm going to start going through the second step, which is to increase the average transaction value. We still have some clients, some old clients that are underpaying us. So I'm going to start rinsing them and increasing them. I have a feeling they're all going to stay, but if they don't, we're going to be replacing them. We also have a company that we started last year for tax resolution. And so we've got that going. So I feel like we have different pieces for the strategies that you're mentioning. How many are reasonable? Like, how many it's how it's, I mean, you, you don't want to defuse yourself and you don't want to confuse your clients. There's no right or wrong. There's only how many that you can manage and how many your market or segments of the market will support. There's not a right or wrong there about. I have had when I was much more expansive and aggressive and, and let's say motivated, I've had, geez, I've had sometimes dozen or two dozen different totally unrelated type

1:37:32of activities going on concurrently. And they were all very profitable. And I probably drove my staff crazy, but I, they all worked. It just was a lot of work for me because I had to, I'm, I had to fulfill. It's a matter of what makes the best economic echo, echo strategic sense. It's got to make the most money for the least amount of time, effort, risk, and it has to be for your purposes, the most sustainable, but there are exceptions. And the exception is if you find something that is opportunistic, meaning it's not going to be ongoing, but doing it one time might produce, you know, for you $200,000 of windfall money and it will help people as well, then you do that. But you just keep your, your, your options open and you keep yourself flexible and fluid, but you have certain priorities that you concentrate on and you don't try too many things at the same time. You get each one to the point that it is working and sustainable, either ongoing or at different intervals or frequencies. Maybe it's seasonal or cyclical or four times a year. And then you get, you make sure you have someone internally or externally managing the, the perpetuation of it. So it doesn't dissipate and then you go on to the next.

1:39:00Thank you, Jay. You're welcome. Next, let's bring on Robert. Hello, Robert. Hey, Jay. Hello. Yeah. Robert was in the same club. I think we shot it last week. Yeah. And is your daughter enjoying it? Are she, is she done it yet? Just getting started with this morning. So yeah, she had some troubles over the weekend getting logged into the account, but it's excited about it what I heard so far. Good. And I'm sorry about that. But let's, let's get your insight. So the two insights night and today, one thing as a nonprofit organization preempted marketing is probably one of the things that I'm most excited about after the conversation today. Really going out and telling the story, what's the driving passion that started the business? What makes a difference? And what's really the benefit to the customers as a clients that we work with? Because you know, most of what we do, we provide free of charge and we don't, you know, we have lots of value to what we do, but we don't charge or have a cost for that. And then the second thing was is that when customers do commit and they actually do hire us for additional services that they, a lot of times do if they're engaged in one or two of our programs, we're actually not starting to look at risk reversal for that new program.

1:40:07How can I give, you know, that three months or that six month satisfactory guarantee to let them know that our only goal is to make sure that they're getting the results that they're looking for. So those are the two, the fifth news of things that I've gotten out of today's session. That's great. Thank you, Robert. Good to hear. One quick question I have for you. So on the nonprofit side, we always say no cost, yet it's free or it's no cost. I don't know if there's a better way of wording that. And how then do you describe the value when there's no cost associated with that program that we're providing the other nonprofits? Well, you can recontextualize it and say, we, we are the ones that are, that are creating revenue for you. You change it around and not make it cost free, but that you're the investor in them. You're bringing them revenue. It's a different way of saying it. Interesting. I like that. All right. Good luck, sir. Brian. All right. Next, let's bring on Gia. Hi, Gia. Hi. How are you today? I'm good. Thank you. It's another kind of mind blowing day. And I really appreciate it. What, you know, that I have to kind of try to pick out the things that perhaps were the most mind blowing, but out of everything because it was a lot today.

1:41:30It was a lot. I would encourage all of you because I really went through, I mean, if I stopped, I'm not saying this to make you, you know, say thank you, Jay, but if I stopped right here and we didn't have one more session and you only, not just you, Gia, but everyone worked on the things we covered today. Your business could not help but explode seriously. So it's worth studying many times and breaking it apart and dividing and conquering all the different applications that make sense. And obviously, as Brian has expressed, I do not expect you to do all of these. But if you're doing very few or none of them and you add three or four, Gia, imagine the difference it'll make. Yeah. And I have three right here that I've been working on with Eric on our email marketing sass. Yes. And I'm a little, you know, there's so many in the industry. There's a lot of competitors. There's a couple of hundred at least. So what we're doing is I've been digging into the story and the, because the company's 20 years old and it came from, you know, so there's a pretty good story about it. The, the founder has always been focused on customer service. You know, sometimes it's just going way above and beyond and there's a good story behind

1:43:01it. I'm just trying to pull it out right now and put it into words. Okay. Right. So is there a question? Yeah, the, the trying to find an irresistible offer and something that is kind of, I think, becoming a commodity. Well, I mean, if you don't have an advantage, then you might for an irresistible offer, you might package something else in with it and then let them try it for a couple of months. And if there's, I mean, you can either buy them the first three months. If you know they're going to sustain, that's an irresistible offer. You can package something that's worth many times. You know, if, if, if my, is it an email marketing? Is that what it is? Yes. Like mail chimp. Yeah. So if you said we're going to give you a copywriting course, we're going to buy you a $300 or $500 copywriting course so that your emails will have the greatest impact and we're going to buy it for you and also pay for the first two months. Just give us your credit card and we won't bill it in month three if you're not already way, way ahead or happy. You like that? Yeah. Wow. Yeah, that's fantastic. Thank you. You're welcome. Brian. All right. Let's bring on Keith. Keith. Hey, guys. How are you today? Good. How are you? I'm good. Well, I just wanted to give you one a win because it was from something that we implemented.

1:44:30Good. From phase one, we started, we started adding contact letters and points of contact when a new client came on board and thinking for their business and telling them that we work on referrals. And from there, they've responded right away and they said, we're going to pass your name along to other people within our office, if not other companies. So that is a win. That's good. Congratulations, Keith. Thank you. And then as we're going through this today, there was something that came up where it's teaching like everybody that relates with a client about your USP and about, you know, really everybody's a kind of a salesperson. And so it made me start thinking about putting together a powerpoint for when we're back at full strength and kind of getting everybody on the same page. Sorry about that, Mike. I love it. That's really good. I love both of those. Thank you, Keith. And Brian, I just have to tell somebody something for a minute. So if their distinctions take them, if their questions ask them to win, I'll be right back. Okay. Okay. Got it. So next, let me bring on Robert. What distinction did you have? And if you do have a question, we'll just raise your hand again. Ah, I have a question under this under the distinction.

1:45:57Bob, I can raise me hand again. I'll leave your hand up. But what's your distinction? Well, actually, and we see from the previous phase, phase, okay, was it phase two, right? Anyone, the one previously. Well, I've implemented like the advanced strategies. So basically I've gone on a quiet seven companies. Wow. Yeah. And so therefore I have a, I always say, consolidated P and L of nine million US from all these. Nine million. Yeah. Before you met Jay, where were you at? Well, okay. This is excluding my own business, my, my, my, or other businesses. My other businesses, we were doing like about, you know, what, 300,000 your US. So 300,000 to nine million. Does that sound exponential to anybody else? Fantastic. Yeah. So, you know, you know, I know, but there's some questions though, like, okay, because I kind of like, obviously, um, took the quantum leap, jumped off, you know, without a parachute, but I don't need a parachute. But now I'm like, okay, now what? Well, I kind of know now what, but it's, um, but there's also some other things what I'm looking at. Um, so there's some little, I don't know. I just want to bounce it from Jay.

1:47:32Yeah. Well, Robert, I'm going to ask a big ask here because one, everybody in the chat is celebrating with you right now. I think some people doing happy dances for you. But I don't want to put you on the spot now. I want to give you some time to repair. But I'm sure that everyone would love to hear a really brief presentation about what you do, how you do it. You know, so how, because if you've never done it before, like I've, I've tried to buy businesses, but I've never gone all the way through and signed on the dotted line and bought a new business. So I was very nervous in that whole process. I used a business broker. I'm curious if you used one. I don't know that that was some fun. That was as well. Not to use that. So, so Jay, I'm asking Robert here because he had, he really went off on the, the advanced way to grow a business. And he's now making nine million. Whereas before he met you, he was making 300,000. That's really incredible. Robert. How about? Was it nine businesses? Seven businesses. Seven. So what I'm asking him to do and with your permission, Jay, is I'd like Robert to kind of put together a brief presentation, you know, under five minutes of what he did. It's great. I just have to just for everybody, I have to stop at the very bottom of the hour.

1:49:03So it's nine minutes, but it's fine with me. Be great. Go ahead, Robert. How do you do it? Tell them how you do it. Actually, how it kicked off was like, because maybe what you may recall by it. In the early phase. Hold on a second, Robert. I'm actually promoting you to panelists here. So I can see if we can get you to turn on your. Your. I'm back now. Oh, if you can, turn on your, your camera. Oh, not in a good space. Go ahead. Take it away. Okay. Yeah. So back in, I think like phase one, okay, you know, you, you shared like, like today was to go on a quiet asset. So like brands, database. So I approached that. And then, but you were dealing with like, how we see insolvency practitioners and they just wanted big dollars up front and whatever. So I reverted change a few things. And then like what brand was saying, well, did it go with brokers? Well, yes, I did. I approached, you know, this one begins with a T. I think everybody knows them and quite a few other ones. However, they, what I found with them, they fudged the figures of the businesses. They said, they were doing X amount of turnover and naturally they weren't. And because that's to inflate the valuation. So you buy it and all that kind of stuff. So therefore what I did then, because I set up the, you know, the referral mastery, you

1:50:34know, I created a couple of groups and I was looking at referrals really towards my, you know, but towards my businesses. And then as I've talked with businesses and, you know, suggested to them, well, actually to invest into them, you know, through like sweat capital, that sort of speak, you know, we were sharing some strategies and whatever. And it was something I had been doing in the past. So anyway, things kind of migrated and then, you know, they were looking, they wanted to exit and I said, well, I'll acquire them. And I looked at some ways to actually acquire them because obviously they will come at some crazy valuation like they want. I don't know, $5 million or whatever. I don't have $5 million. And if I did, I wouldn't acquire them anyway. Right. So I did a little bit like, as you suggested here today, was like on a profitable end out. Right. And it was through, as you shared previously in the previous, you know, sessions about using profitability on the, you know, on the earnings ratio and therefore they get in, okay, they want $5 million. I'm not going to order them or anything. I don't go through all that has to do diligence. But it's basically, they set the ceiling high. I give them over a three year period, a end out on a deferred payment.

1:52:02When we hit those targets, they will get a buy monthly payout. Then with a bonus top up because some of them were coming back to me, said, well, actually we're this and it'll actually go more. And said, okay, that's an additional top up where they'll get an extra 10%. So for them, they're actually happy. I would get cash through, how do I say, if some of them, the on property, right, I would actually lease back the property, the business from them. So they were done the property as an asset. So therefore, because some of them, they wanted money upfront and they said, well, they have, you know, whatever warehouses or whatever. And they said, okay, they can on the, you know, the asset, the property of those. So we switched those out to another business. They own, we sign a lease that we will rent it, like, you know, kind of indefinitely type of thing. So they're getting money from that and they know that the business is able to pay it. All right. And then we just run the business. And the key thing is that depending on the key thing is to keep the, what is more important is that the operation is intact. It can continue to run type of thing because it's like, there's no point buying a car when, you know, there's no engine and no wheels because, you know, you can't really go anywhere.

1:53:31So the key thing is got to be intact. And then really then I'm looking at, you know, a little bit the synergy between these and although they may be direct competitors, but they're in different countries and they see this as being part of a large group. And this is through my other businesses, what I had was when I was, how do you say, because I have another bit, which is risk management. We were working all once at that time, wanted to work with the banks and the banks. Although we are a good relationship them, you know, with the CIO, CSOs, we were too small to sue, right? You know, because you just some small little SME. So therefore, I partnered with like the big corporates, you know, vendor tech companies, because sometimes with them a million dollar deal to them is nothing. They're not interested. You wouldn't get out of bed for it. So we partnered them. We would do it and they just basically they make half a million dollars for doing nothing. And how many have you acquired that way, Robert? Well, today, we've acquired seven. And once you get them out, how hard has it been for you to manage the acquisition? Oh, well, it takes a lot of work. Gets into the acquisition. How do you say it took me like, it's some take two to three weeks.

1:55:06They took like about two months, maybe a little bit more, because the key thing is where the challenges come is the the advisors, finance and lawyers. So the key thing is like, keep them out, right? Because they just want to, you know, they just already said, no, that's you've been scammed or whatever or something. So the thing is that we would do really the agreements together. Okay. You know, without the lawyers and they said, okay, you want to bring the lawyers, you pay your fees, right? But you know, and they're like, because they're in a way, because of COVID businesses down, because what most of these and the key thing, oh, okay, the other important thing. They asked me why am I going to do the debt? Well, in the general sense that why you because, you know, they're asking how much money do you have, how much you're going to get in Jeff? And I don't really say to them nothing. But actually, I'm not going to inject hundreds of thousands or millions or whatever incident. But what I share with them, this comes with the preeminence. And this is what I learned from that is that because a lot of people who are approaching them are looking to flip the businesses and go in, optimising or strip the assets,

1:56:40hop them all up, you know, it's like get it, get it, get it, get it, get it, get it, whatever. And I say to them, no, I'm looking that because a small businesses is really the foundation of really the economy and really an entrepreneurship. And really, it's like, you know, it's like their legacy. I'm looking, even if they exit, I'm looking to retain this. Okay. So that business continues. So that actually drove them to work closer with me. I love it, Robert. It's very impressive. Please don't be upset anyone. I have to leave. But Brian, I am passing the mantle to you. You can keep it going as long as there's confusion. And Robert, I think you should summarise for everyone and encourage them whether they want to go higher or lower, that it's doable and give them a little bit of the psychology. And this is wonderful. But everybody, this was a very deep day. Please re-reflect. And if you get a chance, watch it again. Brian, everybody, I'll talk next week. Thank you. Thank you, Jay. Thank you. And Robert, I just want to highlight what I heard was the difference maker that I don't hear is that you found out what most other people or how most other people are buying a business. They're buying it with the end goal of flipping it, of draining it.

1:58:05And you said my goal is to use your asset because Jay has given you the technology to multiply that asset and to create more value. So your business is a tool for me to grow value. And for your competition in buying this business, they just want to suck value. I'm a value giver. They're a value taker. And that is your USP for buying businesses that add value to your line of business. It's genius. So I hope you take Jay's challenge and reflect and maybe kind of codify this a little bit because there was a lot of comments here in the chat. They want Jay to go into this again and they really valued what you contributed. So with that, I'm going to get a few more people. But thank you. Thank you. Thank you. Let me call on the others. And yeah. So let's go with Josh again. Happy birthday. And you're insightful comments today. Yeah. No. One second. I'm like, why can I hear my success? I can hear you. And I'm trying to figure it out to this so I don't hear myself. Oh, gotcha.

1:59:36Because I was on two devices. So give me one second. OK, there we go. I think I should be good. OK. Switch one thing. Super quick. There we go. Now I can hear you and you can hear me. Perfect. So yeah. Thank you so much, both for the birthday wishes and for the space to share. So I think two things I wanted to quickly share. One is just the importance of sharing all the different things that you do in your business so that it makes it easier for people to refer you. But perhaps it's because it's my birthday. And I'm thinking about how to better spend the next year or do a better job on my next spend around the sun that one of the mic drop things that Jay said at the very end that was a sobering reminder for me was what are you really committed to? And carving out at least an hour of your maximum peak productivity time is what I would call it, the time that you're freshest and your best freshest gray cells to actually reflect on this stuff and implement it. And if I may very quickly share a quick anecdote, you know, I used to work for a billion dollar organization once upon a time, a Canada's largest research hospital. And I was in middle management there. I had, you know, over a dozen staff. And one of the things that drove me completely nuts was the fact that we spent 35 hours a week

2:01:09in meetings. And then everybody there had multiple staff that they're dealing with outside of those meetings. And so you're sitting in all these meetings, making all these grandiose plans, but they're really with imaginary resources because you're saying you're committed to all these projects, but then you've committed your resources to be in meetings all day to talk about the projects instead of actually executing on them. And I feel like, you know, we're at risk of that as entrepreneurs though, of what are we really, what are we really committed to? And what's, I guess, my commitment to this next trip around the sun is to do less better, like do less things in a better way and a more thorough way instead of trying to always cram more in and do more things and not really, you know, tying things off or closing a loop on some of these amazing, you know, insights and ideas and philosophies and tactics. So for whatever it's worth, that's my birthday reflection. And I believe Dr. Bernard would agree with you, do less better. Like focus on the one thing, do that amazing and then move on to the next one. So great insight. So thank you, Josh. Let's bring on Amanda. Hi there. Hello. So things I wanted to give feedback on and I guess a question and a reflection.

2:02:44So one thing that I really just wanted to highlight and make sure that everybody really captures value in is the PR aspect. I know Jay spent some time talking about all the different ways to grow your business through PR. Yes. And it's one thing that's really helped me so much in different businesses that I've had for profit and nonprofit over the years. And then it's just simple things like I finally got into the social media app that Jay mentioned this weekend and it's rather addictive. I say I spent a little too much time in clubhouse this weekend, but I also booked six appointments for this week. Wow. I'm trying to sell myself in any way, shape or form. So one of those appointments is probably someone that I might acquire to help me in my business because I'm really realizing in this class that I need to position myself more as a strategist. That's who I am. Not just a marketer, but I really am more suited to be working in that way. So that's been a massive value add to me. And also since in the two weeks I've been here, I've picked up a client and I have increased my fee by 25% on that client who is a personal friend who typically before this I would have probably given a discount and said I increased my prices and booked them without

2:04:32them flinching. And I have a client and I guess my question is the non-profit leader that's still in me the nurse, I'm a nurse as well, that's in me that wants to help everybody. They're this other client that I really want to help save their business, five generational business. They want to book me, but they can't pay me for 60 days. And I'm really struggling with saying no. And if you have any advice, I guess my question is, how do I get more comfortable? I know my value, but I still want to save the world. And when it comes to small businesses, I have a real passion for serving. And how do I get over this hump? One of the questions you can ask yourself is, do you need money? If you still need money, then you're not in a place to be a philanthropist. That's kind of a deliminator and make yourself a goal of I need to get a base level of things covered in my life. And from this point on, when I hit this, then above that I'm going to be a philanthropist where I can give a portion of my time to businesses that are struggling like the one you're talking about. It's like in the airplane, you put on your own oxygen mask first. So you got to make sure that you're okay.

2:06:09Because when you are giving away your most valuable resource of time and not investing in yourself to get to a point where you can give away time, you're stealing from yourself. And that might be one frame. And I'm sure Jay has many more frames you can use, but that's one that I've seen applied and might help. Does that resonate with you? It does. It does totally. And I've gotten myself into trouble almost to burn out in the past by overgiving. So it's really a priority as I entered my 50th year a month a month ago actually to really prioritize health care and everything I build going forward. So it's just something I'm working on and struggling with because I want to save the world. But I have to save myself like you said, the oxygen mask. And I hope that will remain a struggle until you become a philanthropist. Because you're capturing an element of what Jay talks about in preeminence. You want to have that empathy. Don't give it up. Make sure it stays alive. Don't kill it. Because it's a profit producing instinct in many ways. Your desire to help is a great thing. And see if you can find a yes and yes, I can help you in that this person would be a great resource for you right now.

2:07:44That way it's not taking away from your most valuable resource, which is your time building your business until you become that philanthropist. Yeah, I've actually done it. I had to walk away from a nonprofit that I started because it was a one way exchange. Right. So I'm looking to build something that's a two way, something that can give back to me and sustain me. So I can give more on a greater scale. So thank you for that. And I'm loving being here. Thank you so much. And I think Valerie's here that, you know, look, always look for the win wins and realize that in the moment, make the best choice that you can make. But when you have time to reflect, include these things, like make a note of any decision you're ever uncomfortable with, find a journal that you can capture those in. Because when you're in a different space or in a different, you know, financial circumstance, it may change everything about it. And you may go back to that list and create win after win just right after another or maybe you you meet someone. So it's a great opportunity list. So you got it. All right, Amanda, thank you. Let's bring on Eric. And by the way, I just want to thank all of you, the encouraging things I'm seeing in

2:09:03chat today, responding to other people. This is the thing that makes this group so amazing and I love it so much. So thank you. Well, hello, Brian. How are you doing? Good. That's good. Yeah, I've got actually more of a story that I thought was relevant to the topics that we covered today happen to touch in with a lot of the things that we're directly connecting about from Jay. And it's one that I think Jay would appreciate the story. But it's one that I had a call this morning with a couple of business associates that they didn't know each other before the call and I introduced them. But it's one where one of these, I guess you can call it a prospect, but it's the associate. He had a business that he was basically considering of getting rid of. He was focusing moving to other focal points and changing to have his business be a different priority in a different area. So he had a set of clients that he no longer really needed. So instead of just firing the clients and walking away from it, he was looking to find somebody else who could take them over. So he wanted to still gain some sort of return on that. And I had the other associate was the perfect fit for that. These were both a couple of associates that were out of Spain.

2:10:24So when we met, it was talking to them from Spain to review all of this. And it looked like the second associate was a company that provided the services exactly what the previous associate was doing with them. Basically, it's web design and that type of arrangement. And so what the second business, they were looking to build the business and that goes with what we're talking about today, which is to increase the number of clients. And what this ended up going with is the advanced method of doing it, which was to purchase the new assets. And so in this case, the asset was a list of clients. The clients, it was 19 clients. So it's not a bad jump. And it ended up being something where they were able to acquire it. On the other side, the seller, he wants to get a 3x off of it. So 3x, the yearly revenue off of what he currently has. But for the clients coming into the new business, then the business is acquiring the clients. They have the opportunity to take what was already in place with these clients and grow them because right now they're just basically being maintained for website design. But even the seller was saying it could be something where they could offer a completely new web design build because it'd been three years for a few of these clients.

2:11:43And so they could get a big jump in revenue from that that they can use to pay off everything to the seller much more effectively and quickly. And all of this is something that I think can work well to help. They're going to have their business grow in a massive way just because they manage to find a way to acquire clients in a quick way. So that does go with growing their business by increasing the number of clients. And then on top of that stacking with that, the other way to grow a business is increasing average transaction value. So taking all of the existing clients of those 19, instead of just doing the monthly, the MRR for whatever they're doing for hosting, going ahead and pushing in something additional, such as a digital marketing services or something along those lines that can be put on top. And so all of this is doing the exponential growth with the acquisition of the clients. So you take 19 new clients plus whatever the revenues for each of those clients and multiplying that. And then you can imagine the type of increase in revenue that this business is going to see. Now, were you able to get any what I call toll booth benefit? Any kind of benefit for bringing those two parties together?

2:12:54This is the arrangement that we're still discussing. I'm pretty close associates and I kind of tossed it out there before we started. I'm still, I mean, if you have a different suggestion, I'd be open to it. But I'm looking at getting 10% off of whatever the first year is from the revenue that they pull from these new clients, just as kind of a sales associate, because I was the one that connected everything. I think that's great. Yeah, just you got something. You don't have to do the work. Right. It's awesome. It's a great place to be. There is one element that you do have that you're undervaluing is that I and a bonus for windfall profits, because you've already shown both of them that you can connect parties that create value. So, in essence, you have a mini mastermind group and the goal of the mastermind group is to enhance profits and say for this year, for this 10 consideration of 10%, I will get a download of how it's going on a monthly basis. We'll invest 30 minutes a month, where we'll just kind of discuss and mastermind and see if there's opportunities to create even more wealth for the three of us. I think that's a great approach. Something along those lines would be a very good way to provide additional benefit to this

2:14:27particular associate. But it is one that I know just thinking about it's one that I hesitated to even ask for any sort of revenue sharing in the past. But it's one that I would give Jay a big credit for that that has kind of shifted my mind on the way to consider that. The truth is that they would never have acquired this set of new clients if I hadn't stepped in. So, it is one that I am contributing to the growth of the business in some way. So, I think that is perfectly justifiable to have some sort of a compensation for it. And I think your idea to maintain that, to be preemptive and to work with them continuously is a great way to do it. So, I appreciate that. Thank you for that, Brian. You're very welcome. Very welcome. Yeah, I just the biggest one of my takeaways from Jay, not the biggest, but a big, is the value of relationships. They are so important. I mean, that's why we're preeminent is we value the relationship with our client. It's, you know, we're going to get into in an upcoming session relationship capital. And it really hits home this idea that there is a ton of value in relationships. So I'm giving you a little advanced primer. And I hope I'm teasing you all to keep coming, keep attending and, because I value your contributions

2:15:52as well. So, again, thanks, Eric. And let's bring on, let me do a little quick thing here on my technical side that I usually do behind the scenes while Jay is talking. All right, Valerie. Let's bring you on. And thank you. It is an honor to be a host. So I appreciate you, your appreciation. Thank you. Yeah, sure. Hey, how's it going? You're doing so great, Brian. Thank you so much. It's great. I'm my head is exploding with all of this information the last like 14 days. This is amazing. But I just wanted to say like the one thing I really loved seeing was the two X to eight X. Oh, three ways. That was epic. I was just like, Oh, wow, that's yes. And that really hit home just like the simple things that you can do. And if they do get a cumulative exponential effect, it's like, wow, that was super. I love that. Awesome. Yeah, that that three ways to grow a business that graphic is so it just makes it clear. And the irony here is that each one of these categories is a strategy on how you can, you know, get that. It's just, yeah, it's mind blowing. So I'm so glad you're with us on this journey. And I can't wait to hear some of the wins that you get.

2:17:25Just a minute. Can I just say another couple things super quick just because I know some of us in the Facebook group, we're talking about getting together and doing some accountability, you know, so that like we Jay was saying is like a lot of times people go on these meetings. And then afterwards, it's like we don't implement anything. And so I know I'm guilty of that in many of the courses I've taken in the past. So I would love to, you know, put it out there to continue, you know, let's stay in Facebook group together and put some, you know, just hold each other accountable for putting some of these things into action together, you know, and I think that creates a lot more momentum for everybody. I second that, you know, there's my, my gavel. You are seconded. Please, please use the Facebook. And like you have to recognize that we are among some of the top implementers in the world with some of the biggest strategic insights available to any business owner. So to imagine that you aren't going to be able to find ways to benefit from your collaboration would be lunacy. So to the degree that you can make everything that you're doing public, if you, you know, I mean sign contracts, you know, offsite, that's fine.

2:18:47But to the degree that you're able and comfortable, please utilize that Facebook. So is that seconded enough strongly for you, Valerie? Yeah, it's great. Thanks, Brian. Sure. And then I have to apologize. When Jay's not on here, I don't have as much time. I accidentally put somebody's hand down. I didn't mean to do that. So if someone else had their hand up, please raise it again so I can bring you on. But I truly want to thank everyone. This is, oh, Hafiz. Carlos, do you, if you can. There you go. I've got an amazing team I work with. I just, I love you guys. Carlos, welcome back. You're amazing. And just thank you again for rephrasing and capturing some of the ideas today. I hope that you saw a few of Carlos's big shares today. They were just spot on on a method that you can use to kind of revisit all of these things. So I mean, just powerful, powerful. And then I also appreciate Laura for putting these things together and getting you out the replays as soon as possible. And I see your hand, Daryl. So let me bring you on. So Daryl. Hello, Brian. I am fantastic. You know, my insight today, times now, something really, really a light bulb went on today.

2:20:38And it was regarding preeminent marketing. I noted he didn't start, but he told the story behind the concept discovered. Preeminent marketing to me, I was, I was seeing as he was telling the story this time that while factor with each bullet point, dimensional and what I took away was, was not that they just termed that I keep hearing over and over again. And it's the first time I really experienced it from the great marketers and even some of the marketers of the day are using. And that's fascination. So I thought of it as wow factors and then, or fascinations. And the way Jay told the story today, it was just one wow factor or fascination after another. And the takeaway was that the more that you can dimensionalize these fascinations, the more preeminent advantage vision you're offering. 100%. And, and, and so we haven't got into testing yet, but testing those fascinations to make sure that they're hitting the market is a great way to keep on, you know, using what Josh was saying about iterating these things so that you're in this constant state of improving.

2:22:29So when you find a fascination, you know, that becomes your, your base test. And then you see what fascination can beat that. So how can I be even more fascinating? How can I, and then that becomes your new base and you see how you can beat that fascination. So you're always working to, to out fascinate yourself. Because really, after completing this course, you will have one competition. And that is you yesterday. And you're always trying to beat that competition and you, you, you, and you will have the tools and skillset to do so to repeatedly beat the best in the market because this course should be making you the best in the market. And you will get the tools and strategies to beat yourself again and again and again by using this circle of going back, you know, you, you get the mindset better, then you, you jump in and you pull on the growth lever and then you diversify the growth. And then you reassess all three of those things for ways you can adjust, improve, you know, fascinate, reflect, develop, and then go back into the mindset again. And it just, it's that cycle. So powerful. Thank you. Yeah. Your, your past is your control. Absolutely. So I love the comments. Any other comments, questions, last, last things before we call it a wrap today?

2:24:06Please, if you can't do it right now, schedule a time to do a reflection, but the best time is right now to find some key points and then set a time probably in the next, well, within 48 hours, we're going to have that replay available to you. And again, just thank you. Oh, yes. And just so you know, when we do send out these, the replay and everything, it's in an email and there's going to be a little form link. And if you noticed, I did several kind of, at the beginning of this, I talked about people's comments and insights. That was from the form. So those form submissions, I am so grateful. It helped Jay get, get his mind and juices flowing so that he knows that you guys are listening and engaged and it allows us to grow in such an amazing way. So again, thank you, thank you. And I'm going to stick around for a quick second so that Carlos can post a link, I think, so that you will have access. There it is. So go ahead and copy that link down. So as you're reflecting, why not do it in a way that you can share with the group and add value and that way I can come back next week and highlight again some of those. If I have time available, I may respond to them personally. But yeah, just such, such value.

2:25:41So thank you, thank you, thank you. I appreciate you all and we'll see you next week. Oh, please keep checking those additional bonuses. I know it's a lot to go through. But if you have anything to do with social media, there's a great one on social media. There's a great one on the SAS, you know, just great stuff. So make it, you know, challenge yourself to review these because they can open up your eyes to a whole new way of looking at things. So again, thank you all and we'll see you next week.