WEBVTT 1 00:00:00.000 --> 00:00:04.400 How to sell the same thing for more money by making offers so good people feel 2 00:00:04.400 --> 00:00:09.040 stupid saying now the agenda number one why nailing your offer will make you 3 00:00:09.040 --> 00:00:15.200 more money than anything else number two why selling to the right people makes 4 00:00:15.200 --> 00:00:20.280 you more money more than almost anything else too number three why should 5 00:00:20.280 --> 00:00:24.160 charge lots of money for the stuff you sell number four how to reverse 6 00:00:24.160 --> 00:00:28.720 engineer value number five I've a pretty sweet demonstration I'll do for you 7 00:00:28.720 --> 00:00:31.840 guys how do you scarce the urges and guarantees to make people want even more 8 00:00:31.840 --> 00:00:37.600 and charge more more more double more more money good all right so let's start 9 00:00:37.600 --> 00:00:41.960 here by nailing your offer will make you more money than anything else so this 10 00:00:41.960 --> 00:00:48.120 is my this is my big aha moment so this is me when I was 23 just signed my 11 00:00:48.120 --> 00:00:54.240 lease super excited arms look better than they do now but it's all good and 12 00:00:54.240 --> 00:00:57.760 had no idea what I was doing I'd never sold anything I'd never market it never 13 00:00:57.760 --> 00:01:03.880 gotten leads I had no no clue what I was doing and so I spent three thousand 14 00:01:03.880 --> 00:01:05.920 dollars of money that I didn't have only a ten thousand dollars at the 15 00:01:05.920 --> 00:01:08.800 time so it's been a third of my network on a workshop that's supposed to be a 16 00:01:08.800 --> 00:01:12.400 two-day workshop that was going to teach me how to get leads and it was this 17 00:01:12.400 --> 00:01:16.320 brand new thing that was on the internet it was called Facebook ads it's 2013 18 00:01:16.320 --> 00:01:20.360 I was super early this was a real marketplace plays a role so into this 19 00:01:20.360 --> 00:01:25.320 workshop and I was there I didn't have a real business yet because I wasn't 20 00:01:25.320 --> 00:01:30.560 open and the guy pulls me aside and he could see that I had no fucking clue 21 00:01:30.560 --> 00:01:33.560 what I was doing I was like trying to take notes but didn't even have context 22 00:01:33.560 --> 00:01:38.960 to take notes with and he's like hey you want to know the secret to sales that's 23 00:01:38.960 --> 00:01:48.360 my faint Australian accent he said he said make people want to offer so good 24 00:01:48.360 --> 00:01:52.480 they feel stupid saying no and that was actually the first thing that anyone 25 00:01:52.480 --> 00:01:57.040 ever told me about selling and so it changed my life and so I tried to tell 26 00:01:57.040 --> 00:02:02.040 as many people as I can because if you get that part right everything else is 27 00:02:02.040 --> 00:02:06.560 easy and I was very fortunate in that I had somebody very early on who told me 28 00:02:06.560 --> 00:02:09.400 that and so I tried to tell as many people as I can as lastly as I can they don't 29 00:02:09.400 --> 00:02:13.840 fucking book about it and so I realized in that moment that it didn't be good 30 00:02:13.840 --> 00:02:16.880 at sales good at marketing really good at anything because I wasn't at the 31 00:02:16.880 --> 00:02:20.520 time I just had to make my offer good enough and that was when the greatest 32 00:02:20.520 --> 00:02:24.880 game in my life again and so for those of you don't know in offers what you 33 00:02:24.880 --> 00:02:28.440 literally give someone an exchange for money all right there's the product 34 00:02:28.440 --> 00:02:33.120 that's the stuff the market is the peoples and the offers they think that bridges 35 00:02:33.120 --> 00:02:37.320 those two right and so it packages and communicates what you do in exchange 36 00:02:37.320 --> 00:02:42.360 for the dollars a shitty offer weekly connects to the market very little flow 37 00:02:42.360 --> 00:02:48.120 very shitty or for some of you if you haven't made sales yet that might be your 38 00:02:48.120 --> 00:02:52.200 problem as well so here's a you know if you've shitty offer number one 39 00:02:52.200 --> 00:02:55.440 tired to get leads number two most people don't want to buy number three if they 40 00:02:55.440 --> 00:03:00.160 do want to buy they compare your prices to someone else no but no and here's 41 00:03:00.160 --> 00:03:06.000 why what many people do is they try and just what many people do is they try and 42 00:03:06.000 --> 00:03:12.040 create another and also ran right and what ends up happening is that the 43 00:03:12.040 --> 00:03:15.920 prospect makes a price driven decision rather than a value driven decision and 44 00:03:15.920 --> 00:03:19.400 so they think to themselves these two things are the same I will therefore take 45 00:03:19.400 --> 00:03:24.880 the lower price right and so we have to fight very hard very intelligently on 46 00:03:24.880 --> 00:03:29.400 how to break that that cycle all right and so this is what it looks like when 47 00:03:29.400 --> 00:03:33.240 it's wrong these two are close enough I think I'll get the cheaper one very 48 00:03:33.240 --> 00:03:38.640 sad for all of us a strong offer connects to the big part of the market so 49 00:03:38.640 --> 00:03:42.960 that you make more monies so here if you make and I'm going to show you cool 50 00:03:42.960 --> 00:03:48.480 demonstration at the end of this but if you can make an offer the entire niche 51 00:03:48.480 --> 00:03:53.520 that you're going after is like I fucking need this then you have a lot 52 00:03:53.520 --> 00:03:56.640 easier time going leads a lot of your time selling a lot of times is doing more 53 00:03:56.640 --> 00:04:02.040 work than your competitors are willing to do and that is what's going to shift 54 00:04:02.040 --> 00:04:05.640 people to a value driven decision which is I really want this thing gosh it's 55 00:04:05.640 --> 00:04:09.480 expensive but I don't think anyone else could do it that's where you want to 56 00:04:09.480 --> 00:04:14.440 be because then you can make up your prices great place to be in and the 57 00:04:14.440 --> 00:04:18.000 reason it's so important for making money is that when you get this right number 58 00:04:18.000 --> 00:04:21.440 one you increase response rates on all of your advertisements in whatever way 59 00:04:21.440 --> 00:04:27.000 you advertise when I say advertise I mean to make things known number two increase 60 00:04:27.000 --> 00:04:30.680 conversions so think sales so more people that you talk to will say yes to you 61 00:04:30.680 --> 00:04:35.720 if the offer is right number three premium pricing which means not only we 62 00:04:35.720 --> 00:04:39.560 have more people respond to your ads and more people say yes but they'll say 63 00:04:39.560 --> 00:04:43.360 yes at higher prices and when you have more more more you make more more more 64 00:04:43.360 --> 00:04:49.600 money so right now my current return on advertising my career is 36 to 1 that's 65 00:04:49.600 --> 00:04:53.480 not a typo our portfolio is a whole generation over $200 million a year a big 66 00:04:53.480 --> 00:04:57.240 part of that is nailing the offer and so nailing the offer is the single 67 00:04:57.240 --> 00:05:02.360 strongest lever on your business success so let me just show you how much so 68 00:05:02.360 --> 00:05:07.280 this was a traditional agency offer that we worked on ages ago but we just 69 00:05:07.280 --> 00:05:12.080 changed one thing about the business model just the offer we didn't change any 70 00:05:12.080 --> 00:05:16.040 of the mechanics in the business what they actually did nothing we just changed 71 00:05:16.040 --> 00:05:20.400 the offer so what they used to do is they were generic Facebook ads agency who 72 00:05:20.400 --> 00:05:24.560 here knows what I'm talking about with that anybody yes okay you know these 73 00:05:24.560 --> 00:05:29.640 ones everybody has one your mom has one your mom's basement has a kid in it who'd 74 00:05:29.640 --> 00:05:34.760 also does it too right thousand down thousand a month I'll run your ads for 75 00:05:34.760 --> 00:05:40.080 you right there you go we were doing Facebook ads you get leads maybe maybe 76 00:05:40.080 --> 00:05:45.120 you don't you pay us just the same pretty generic pretty shitty offer and so 77 00:05:45.120 --> 00:05:48.800 this is what their actual eternal advertising was for their advertising 78 00:05:48.800 --> 00:05:52.560 spent so they're spending $10,000 a month they reach 300,000 people their 79 00:05:52.560 --> 00:05:58.280 sponsorate between impressions to people who click they got 40 book calls from 80 00:05:58.280 --> 00:06:03.360 that short was 75% appointments who showed was 30 closing was 16% close five 81 00:06:03.360 --> 00:06:07.800 price was a thousand so they spent ten they made five so they're making point five 82 00:06:07.800 --> 00:06:12.400 to one kind of shitty but 30 days later they're at one to one and then so forth 83 00:06:12.400 --> 00:06:14.920 right it's pretty normal and this is actually pretty common a lot of 84 00:06:14.920 --> 00:06:19.240 businesses some of you guys may have numbers like this right now so let me show 85 00:06:19.240 --> 00:06:23.800 you a new way so this is the offer that we changed it to so rather than a 86 00:06:23.800 --> 00:06:28.960 thousand down a thousand a month we said it's 4k down one time set up no 87 00:06:28.960 --> 00:06:34.360 monthly fee and only pay me when people show up we'll run the ads for you and we 88 00:06:34.360 --> 00:06:37.440 had an implied guarantee because if no one shut up you wouldn't have to pay 89 00:06:37.440 --> 00:06:41.000 cyber again obviously we're invested in getting paid again we prefer to get paid 90 00:06:41.000 --> 00:06:44.800 and so we will try and get as many people to show up as humanly possible cool 91 00:06:44.800 --> 00:06:50.320 simple so same initial stuff spent ten thousand dollars same number of 92 00:06:50.320 --> 00:06:55.000 impressions three and a thousand but two and a half times the response rate 93 00:06:55.000 --> 00:07:01.240 that's more number one say now because of that response rate the actual percentage 94 00:07:01.240 --> 00:07:04.680 say the same now we got a hundred though a point above rather than 40 and our 95 00:07:04.680 --> 00:07:09.360 chariot is remain the same so now we have 75 appointments versus 30 we would 96 00:07:09.360 --> 00:07:12.480 already call this a win would you not this will be a win in your business two 97 00:07:12.480 --> 00:07:18.880 and a half acts cool but then we got more more because we closed two point 98 00:07:18.880 --> 00:07:23.120 three times more people got on the phone then we were before but we already 99 00:07:23.120 --> 00:07:27.720 had two and a half times more people ah more more second more so we went from 100 00:07:27.720 --> 00:07:32.880 five sales for ten thousand dollars to twenty eight sales for ten thousand 101 00:07:32.880 --> 00:07:38.080 dollars more money good and the price point up front went from one thousand 102 00:07:38.080 --> 00:07:42.840 dollars to four thousand dollars so we have two and a half times the response 103 00:07:42.840 --> 00:07:48.880 rate two point three acts the close rate at four times the price which resulted 104 00:07:48.880 --> 00:07:51.920 in a hundred and twelve thousand dollars and cash collected up front from that 105 00:07:51.920 --> 00:07:57.200 ten thousand dollars which is eleven point two to one which from a comparison 106 00:07:57.200 --> 00:08:03.360 standpoint was twenty two times as effective just the offer didn't change 107 00:08:03.360 --> 00:08:06.960 anything else and so I say this to demonstrate one thing which is that right 108 00:08:06.960 --> 00:08:10.960 now most of you could dramatically improve your offer and make a fuck load more 109 00:08:10.960 --> 00:08:15.880 money cool fantastic so if you went from whatever you convince yourself you're 110 00:08:15.880 --> 00:08:20.000 okay with to ten times better row as would that be interesting to you fantastic 111 00:08:20.000 --> 00:08:23.480 all right so this is what you will get from this presentation this is the 112 00:08:23.480 --> 00:08:27.000 stuff you will learn if you actually do something as a result number one more 113 00:08:27.000 --> 00:08:30.760 leads for the same price two more sales for the same call volume three more 114 00:08:30.760 --> 00:08:34.800 money for the same stuff so natural question is how so I'll spend the rest of 115 00:08:34.800 --> 00:08:39.800 this president doing my best damnedest to explain it all right so now number one 116 00:08:39.800 --> 00:08:44.720 number two why selling to the right people makes you more money so you want to 117 00:08:44.720 --> 00:08:49.840 see you want to sell to people who are valuable because of who they are rather 118 00:08:49.840 --> 00:08:53.240 than who you are all right so leave you a little example so who here is 119 00:08:53.240 --> 00:08:57.000 familiar with conversion and optimization CRO anyone heard that term it's 120 00:08:57.000 --> 00:08:59.880 basically people who look at your website and say we'll change a bunch of 121 00:08:59.880 --> 00:09:03.320 dude ads and more people are going to click more people and often okay very 122 00:09:03.320 --> 00:09:08.560 simple in the e-commerce world it's more common than in the coaching world no 123 00:09:08.560 --> 00:09:13.440 idea why when I say curfew I mean services et cetera no idea why does that 124 00:09:13.440 --> 00:09:18.800 way but it is all right now so let's say you own that and you work on e-commerce 125 00:09:18.800 --> 00:09:21.840 businesses doing a million dollars a year and you have a 10% increase in 126 00:09:21.840 --> 00:09:25.520 throughput which is very common sexually on the low end for most CRO agencies so 127 00:09:25.520 --> 00:09:28.360 you increase that business by a hundred thousand dollars a year that's value 128 00:09:28.360 --> 00:09:33.680 right and you charge thirty six thousand dollars a year to do that all right cool 129 00:09:33.680 --> 00:09:39.000 you got a thirty six percent of the value that you added neat now let's say 130 00:09:39.000 --> 00:09:42.600 that you did the same exact work on a business is doing a hundred million 131 00:09:42.600 --> 00:09:47.000 dollars a year in e-commerce get the same 10% increase make them ten million 132 00:09:47.000 --> 00:09:51.840 dollars more now you can charge the same percentage of the increase and you 133 00:09:51.840 --> 00:09:57.880 make thirty three point six million dollars for that one job same work what 134 00:09:57.880 --> 00:10:02.120 hundred times the pay who would like it what hundred times pay increase yes 135 00:10:02.120 --> 00:10:09.840 me too I'm with you all right and so the big point here is that a lot of 136 00:10:09.840 --> 00:10:15.680 people think even the offer itself has to be amazing which it does but the 137 00:10:15.680 --> 00:10:19.120 next piece of this is to make sure that we're presenting to the right people so 138 00:10:19.120 --> 00:10:23.000 the same work occurred in both of those scenarios but because this person 139 00:10:23.000 --> 00:10:27.800 inherently was more valuable we get paid more because we created more value for 140 00:10:27.800 --> 00:10:32.040 them for the same work that is leverage by the way the definition of 141 00:10:32.040 --> 00:10:35.440 leverages you get more for what you put in high leverage put a little in get a 142 00:10:35.440 --> 00:10:39.160 lot out low leverage put a lot in get a little out this is a higher leverage 143 00:10:39.160 --> 00:10:42.920 play having a better offer is higher leverage you do the same work you get more 144 00:10:42.920 --> 00:10:48.040 responses you get more sales higher prices this is making sense cool so this is a 145 00:10:48.040 --> 00:10:52.960 story that I like a lot to drive this point home so dad buys his kid a car to 146 00:10:52.960 --> 00:10:57.760 clunker looks like this can imagine it right and the kids like I don't know if I 147 00:10:57.760 --> 00:11:01.200 want the car he's like well you can scrap it take the cash and then you can put 148 00:11:01.200 --> 00:11:04.480 it towards whatever car you want he says okay it's like well where should I go 149 00:11:04.480 --> 00:11:08.640 he's like well why don't you go to the go to the dealership see what they'll 150 00:11:08.640 --> 00:11:13.120 give you goes the dealership says hey you know we'll give you it we'll give you 151 00:11:13.120 --> 00:11:16.400 five grand for the car it's like okay it goes back to his dad he's like hey 152 00:11:16.400 --> 00:11:19.240 they said they'll give me five grand he's like okay well why don't you go to the 153 00:11:19.240 --> 00:11:21.960 pawn shop down the street the scrapyard see what they'll give you maybe the 154 00:11:21.960 --> 00:11:25.440 metals worth more this goes scrapyard has the same conversation with all the 155 00:11:25.440 --> 00:11:29.120 car they said we'll give you five hundred bucks you're like oh five hundred 156 00:11:29.120 --> 00:11:33.600 bucks goes back to his dad sulks and he's like then we're gonna be five hundred 157 00:11:33.600 --> 00:11:36.680 dollars for the car it's like okay I said why don't you go to that that 158 00:11:36.680 --> 00:11:40.560 that collector thing down the street you're new with this guy goes to the 159 00:11:40.560 --> 00:11:42.880 collector's thing down the street it's like hey I'm thinking about some of my 160 00:11:42.880 --> 00:11:48.760 car and they're like dude you have a historic blah blah blah blah that's a 161 00:11:48.760 --> 00:11:53.560 hundred thousand dollar car there's only 20 of these left comes back to his 162 00:11:53.560 --> 00:11:56.880 dad his dad's smile like he knows what happened and the lesson he wanted to 163 00:11:56.880 --> 00:11:59.680 see she's son 164 00:12:02.440 --> 00:12:06.280 if you're not being 165 00:12:06.280 --> 00:12:10.840 hello sounded more dramatic that way if you're not being valued it's because of 166 00:12:10.840 --> 00:12:14.360 the people that are placing the value on you and so a lot of times I feel like 167 00:12:14.360 --> 00:12:17.240 we do with this with a lot of like I get a customer segmentation that's 168 00:12:17.240 --> 00:12:22.000 beyond the scope of this this presentation but if you look at all the 169 00:12:22.000 --> 00:12:25.240 customers you have there are customers that pay you five ten times more than 170 00:12:25.240 --> 00:12:30.720 your other customers right but if you just had those right it's a lot easier to 171 00:12:30.720 --> 00:12:34.480 make that person more value because of who they are not even because of who 172 00:12:34.480 --> 00:12:38.000 you are right and so the person on the other side of the table matters just as 173 00:12:38.000 --> 00:12:42.480 much as a thing you're telling them sometimes more there you go the value to 174 00:12:42.480 --> 00:12:46.400 arrive is often about who you find not necessarily what you provide and so this 175 00:12:46.400 --> 00:12:50.560 is a final little one I'll drive this home with so there was a guy who's 176 00:12:50.560 --> 00:12:54.800 broke down the side of the street super upset big red car there lots of 177 00:12:54.800 --> 00:12:59.840 fumes I don't know I have two car examples but go with it and and guys driving 178 00:12:59.840 --> 00:13:03.720 by stops on the side of the road it starts pushing has anyone seen this 179 00:13:03.720 --> 00:13:08.560 before in their lives okay what's interesting is that this guy who decided to 180 00:13:08.560 --> 00:13:12.640 be the good Samaritan for the day helped the other guy out nothing crazy normal 181 00:13:12.640 --> 00:13:17.120 thing when he got back home he found out that the man on the side of the road 182 00:13:17.120 --> 00:13:22.120 was a billionaire and he had paid off his mortgage I think is really cool it's a 183 00:13:22.120 --> 00:13:27.920 real story and so it wasn't a function of what he did it was a function of who 184 00:13:27.920 --> 00:13:32.560 he helped so most people could push a car and probably not get anything besides 185 00:13:32.560 --> 00:13:36.640 a thank you which is fine and that's cool because they didn't do it for that but 186 00:13:36.640 --> 00:13:39.880 in this particular instance he got his entire house paid off because of who he 187 00:13:39.880 --> 00:13:42.920 chose to serve and so right now you probably have pain in the ass clients who 188 00:13:42.920 --> 00:13:48.520 fucking suck and you got a couple of them are pretty cool get more of them and 189 00:13:48.520 --> 00:13:51.760 one of the hardest things in business is being able to say no but I promise you 190 00:13:51.760 --> 00:13:55.280 that if you're able to say no to people who suck you'll make room for people who 191 00:13:55.280 --> 00:14:05.920 don't suck and those people will pay you a lot more money thank you facts so who 192 00:14:05.920 --> 00:14:10.240 do I decide to go after if this is what I'm going to decide to do awesome I'll 193 00:14:10.240 --> 00:14:13.080 give you a little framework for this so when we look at markets that we want to 194 00:14:13.080 --> 00:14:15.880 go after and this is at a market level you can actually drill close to this in 195 00:14:15.880 --> 00:14:19.080 terms of customer self-agmentation there's four characteristics we look for 196 00:14:19.080 --> 00:14:24.160 number one is pain number two is purchasing power so do they have the problem 197 00:14:24.160 --> 00:14:27.800 to solve do they got the money to spend can we find them easily and are they 198 00:14:27.800 --> 00:14:31.120 going to be bigger tomorrow than they are today right because you can reverse 199 00:14:31.120 --> 00:14:34.600 this and say how do I find somebody who doesn't give a shit can't afford the 200 00:14:34.600 --> 00:14:38.360 thing I can't find them it's actually shrinking right so let's not do that 201 00:14:38.360 --> 00:14:43.900 let's do the opposite of that all right so anyone heard this might have heard 202 00:14:43.900 --> 00:14:48.040 this example so if you have a hot dog stand right and you're trying to sell 203 00:14:48.040 --> 00:14:51.880 the most hot dogs so this is going to be a we're going to do this life today if 204 00:14:51.880 --> 00:14:54.640 you can just shout them out as loud as you can because you have no mic and I do 205 00:14:54.640 --> 00:14:58.680 if you wanted to sell the most hot dogs and we're in a contest and I'll give 206 00:14:58.680 --> 00:15:02.740 a hundred grand of the person who sells the most hot dogs what would be the 207 00:15:02.740 --> 00:15:12.460 one advantage that you would want so normally I would go through this they'd be 208 00:15:12.460 --> 00:15:17.340 like the best hot dogs the best packaging the best whatever right the best 209 00:15:17.340 --> 00:15:20.980 marketing the answer is you want to be right outside the stadium when the 210 00:15:20.980 --> 00:15:24.660 drunk crowd gets out you want a starving crowd you can sell bullshit inside of 211 00:15:24.660 --> 00:15:28.500 a bun as long as it even resembles a hot dog and you will sell out and so the 212 00:15:28.500 --> 00:15:32.060 idea here is that we want to find the starving crowd and the thing is is that 213 00:15:32.060 --> 00:15:35.820 within markets there are sub segments that are starving and they're wildly 214 00:15:35.820 --> 00:15:39.500 underserved and they have lots of money and just no one has done a good job by 215 00:15:39.500 --> 00:15:43.180 presenting the right offer to them 216 00:15:43.180 --> 00:15:50.380 number two purchasing power so a friend of mine actually read this book and 217 00:15:50.380 --> 00:15:54.260 like was going through this process and he was like I think I've got my perfect 218 00:15:54.260 --> 00:15:58.220 audience it's unemployed people I help them with their resumes they get jobs 219 00:15:58.220 --> 00:16:04.180 this is a huge marketplace it's growing right 220 00:16:04.180 --> 00:16:08.820 it's up on with me after like a month of this like crazy great idea he's like you 221 00:16:08.820 --> 00:16:12.260 wouldn't believe it and I was like tell me it's like they can't afford a three 222 00:16:12.260 --> 00:16:19.460 hundred dollar consultation it's like I I can't believe it and I was like what's 223 00:16:19.460 --> 00:16:22.100 the main reason they're giving you say they're saying they don't have any income 224 00:16:22.100 --> 00:16:27.980 right now it's like wild thought and so when you're selling something you 225 00:16:27.980 --> 00:16:30.820 want to make sure that the person you have as purchasing power I'll tell you 226 00:16:30.820 --> 00:16:34.460 something that I've anecdotally found is that the more I reveal about how 227 00:16:34.460 --> 00:16:38.820 expensive something is earlier on the process the more money out to make a lot 228 00:16:38.820 --> 00:16:42.180 of people like to hide that and they try like you know a few skates you know 229 00:16:42.180 --> 00:16:46.820 trying to like hold it back and not tell people I don't scare people off 230 00:16:46.820 --> 00:16:50.860 people usually have an idea of a range of what something is and if someone is 231 00:16:50.860 --> 00:16:53.260 like so shocked value that they won't get on the phone they're probably not gonna 232 00:16:53.260 --> 00:16:59.140 close so I have been I've made more money it has cost me more money per call but 233 00:16:59.140 --> 00:17:03.540 I've made higher return on my advertising by having that stuff but most 234 00:17:03.540 --> 00:17:06.540 people are afraid of that because they only look at the front end metrics rather 235 00:17:06.540 --> 00:17:11.180 than the back end metrics number three is one to find find people are easy right 236 00:17:11.180 --> 00:17:15.100 and so if they're not aggregated somewhere it becomes very difficult to 237 00:17:15.100 --> 00:17:17.940 advertise to them right we can't make our shit known to them if we can't find 238 00:17:17.940 --> 00:17:22.100 them right if you're trying to reach rich doctors it's much easier to do that 239 00:17:22.100 --> 00:17:28.460 than I don't know something that some of you guys are going after like you got 240 00:17:28.460 --> 00:17:31.500 to be able to find this this is really tactical but like this is why I love 241 00:17:31.500 --> 00:17:34.860 niches when you have like associations and Facebook groups and professional 242 00:17:34.860 --> 00:17:39.180 services around this particular audience becomes very easy to target them and 243 00:17:39.180 --> 00:17:42.340 not only that becomes easy to target them across all platforms and it becomes 244 00:17:42.340 --> 00:17:45.020 easy to do outbound to them because you can find those lists like there's so 245 00:17:45.020 --> 00:17:47.820 many different ways to advertise to them they get easy rather than thinking of 246 00:17:47.820 --> 00:17:54.140 creative innovative ways to do it again there are other ways but why not make 247 00:17:54.140 --> 00:17:59.900 it easier like if we're gonna do it when I was just pick the the the deck 248 00:17:59.900 --> 00:18:04.280 steps in our favor right and so the last one is one that I learned from Uncle 249 00:18:04.280 --> 00:18:08.340 Warren right which is he tells this story that that has always stuck with me 250 00:18:08.340 --> 00:18:13.100 I said when I was at Columbia Business School he in it he had his closest 251 00:18:13.100 --> 00:18:16.660 friend at Columbia and they were kind of like equivalent in every way super 252 00:18:16.660 --> 00:18:20.780 smart really hard working etc and when they graduated they went their separate 253 00:18:20.780 --> 00:18:25.460 ways he went to get into you know private equity and investing etc and his 254 00:18:25.460 --> 00:18:30.100 friend went into the steel business and worked really hard etc etc fast 255 00:18:30.100 --> 00:18:34.980 four thirty years his friend did decently well you know rose up in the 256 00:18:34.980 --> 00:18:38.100 company steals a hard business they can pay as well etc this was an 257 00:18:38.100 --> 00:18:47.340 American steel was kind of in turmoil etc and two guys same IQ-ish same same 258 00:18:47.340 --> 00:18:52.820 work ethic Warren becomes an ultra billionaire the other guy is just a normal 259 00:18:52.820 --> 00:18:56.540 dude and he said that's when I learned how important it was that it wasn't 260 00:18:56.540 --> 00:19:02.260 about how hard you row but the boat you're in and so a lot of us are are 261 00:19:02.260 --> 00:19:06.060 rowing in the wrong boat we're rowing as hard as we can but we're actually in 262 00:19:06.060 --> 00:19:11.020 the wrong vehicle and so when we're when we're trying to pick the market that 263 00:19:11.020 --> 00:19:15.100 we're going after you don't want to pick steel in the US when he was graduating 264 00:19:15.100 --> 00:19:20.340 from college a good friend of mine had a newspaper business he was a sass dude 265 00:19:20.340 --> 00:19:27.300 from YC slick back hair the whole thing looked fancy and he was like dude we're 266 00:19:27.300 --> 00:19:31.300 not growing anymore he's like I've changed the offer I've got you know I've got 267 00:19:31.300 --> 00:19:35.980 my sales team he's doing all this stuff I was like bro do you want me to say it 268 00:19:35.980 --> 00:19:41.500 he was like what do you mean I was like newspaper stringing 25% a year compounded 269 00:19:41.500 --> 00:19:46.460 against you not even like neutral like negative compounding people like 25% a 270 00:19:46.460 --> 00:19:51.100 year returns like do that for 10 years the other way very bad and so he's like 271 00:19:51.100 --> 00:19:54.580 even though we're gaining market share I was like yeah but the market's this big 272 00:19:54.580 --> 00:19:59.260 right and so the thing is there's an old VC saying venture capital saying he said 273 00:19:59.260 --> 00:20:04.060 when a great manager meets a bad market the market wins right and so a lot of 274 00:20:04.060 --> 00:20:07.020 us are trying we're we're rolling in the wrong boat you're pursuing people who 275 00:20:07.020 --> 00:20:12.140 suck if you go to places or you go to markets that are growing you grow by 276 00:20:12.140 --> 00:20:15.420 default there are some people this is the nice thing that we have is that we all 277 00:20:15.420 --> 00:20:20.180 just went through COVID whatever time ago it was who here saw a big increase in 278 00:20:20.180 --> 00:20:24.820 their business who here saw a big decrease in their business well good for you 279 00:20:24.820 --> 00:20:29.940 guys for everybody else the point is is that you actually got to see in real 280 00:20:29.940 --> 00:20:34.860 time the difference between markets like the market was actually behind you 281 00:20:34.860 --> 00:20:40.740 and it got so much easier and so if we have the ability to decide what we're 282 00:20:40.740 --> 00:20:45.900 going to sell into whom we might as well stack the deck right so number one 283 00:20:45.900 --> 00:20:48.100 why nailing your offer is the most important thing that you can do to make 284 00:20:48.100 --> 00:20:50.780 more money number two I signed the right people makes more money did I make 285 00:20:50.780 --> 00:20:54.740 that point cool all right number three here's why I charge a lot of money for 286 00:20:54.740 --> 00:20:58.980 it aka the right price one of my favorite coast from Dan Kennedy charge as much 287 00:20:58.980 --> 00:21:04.900 as you can without cracking a smile and so there's three little frameworks I'm 288 00:21:04.900 --> 00:21:07.300 going to give you as quickly as I can because I want to get to some of the cool 289 00:21:07.300 --> 00:21:12.660 other stuff there's price to value discrepancy so price what you pay values 290 00:21:12.660 --> 00:21:17.660 what you get this is also a warm buffet quote you can imagine the top line is 291 00:21:17.660 --> 00:21:21.860 the value the middle line is the price and when your value declines the point 292 00:21:21.860 --> 00:21:25.900 where the price sorry the value dives below the price is where people cancel 293 00:21:25.900 --> 00:21:29.780 if you have a recurring revenue business or people don't buy right and so 294 00:21:29.780 --> 00:21:34.740 every single person wants a bargain this is an important point you could sell 295 00:21:34.740 --> 00:21:38.620 something for a hundred million dollars and it could be a bargain so price has 296 00:21:38.620 --> 00:21:42.940 nothing to do the discrepancy between price and value there's both variables 297 00:21:42.940 --> 00:21:47.620 right and the problem is most business owners focus on the wrong side and so 298 00:21:47.620 --> 00:21:52.500 there's two ways you can increase that discrepancy number one the hard way is 299 00:21:52.500 --> 00:21:55.540 that you can lower your prices right if you lower your prices you increase the 300 00:21:55.540 --> 00:22:00.540 discrepancy makes sense right it also sucks because it's a great way to compete on 301 00:22:00.540 --> 00:22:04.380 prices commodity remember the apples and oranges we're doing the apples to 302 00:22:04.380 --> 00:22:08.820 apples shitty life right and what happens is you end up losing most of your 303 00:22:08.820 --> 00:22:14.180 money on this nice visual didn't come up okay it's all good the other way to do 304 00:22:14.180 --> 00:22:18.740 this is the easy way right is that you can compete on value and create a value 305 00:22:18.740 --> 00:22:23.420 driven decision rather than a price driven decision and so this is where we 306 00:22:23.420 --> 00:22:27.020 start stacking as many things as we can on this rubber band of value to keep 307 00:22:27.020 --> 00:22:31.540 driving it as high as we can can imagine so that the price just follows as 308 00:22:31.540 --> 00:22:36.520 resolved and so we want to charge ten times more than we are now for something 309 00:22:36.520 --> 00:22:40.660 a hundred times as valuable I showed you an example of how we can do a hundred 310 00:22:40.660 --> 00:22:45.540 times more value just by serving a better customer but does that make sense this 311 00:22:45.540 --> 00:22:50.180 is how you make tons of money is by jacking the shit out of the value so much so 312 00:22:50.180 --> 00:22:53.980 that people are like this is not the same as everything else I have nothing to 313 00:22:53.980 --> 00:22:57.420 compare this to I have to take whatever number they give me as the only data 314 00:22:57.420 --> 00:23:03.100 point I have to compare to day Kennedy said you want to sell in a vacuum no one 315 00:23:03.100 --> 00:23:07.900 else is in the room you're like it's just you and me baby I'm all you got right 316 00:23:07.900 --> 00:23:11.140 and so that's what we want to do in our sales conversations where they have no 317 00:23:11.140 --> 00:23:14.940 alternative there's nothing else that they can do or nowhere else to go or 318 00:23:14.940 --> 00:23:18.300 no one else who can solve this problem all right and remember this is one 319 00:23:18.300 --> 00:23:23.340 that's always useful to remind people of you can only go down to zero like you 320 00:23:23.340 --> 00:23:27.540 can only go so low on the price but you can go infinitely high in the other 321 00:23:27.540 --> 00:23:31.900 direction on value so I would want to time myself the thing that I can infinitely 322 00:23:31.900 --> 00:23:37.500 go up on rather than the one that I can only compress to zero so the goals that 323 00:23:37.500 --> 00:23:41.780 they buy a tremendous amount of value at a discount we still want them to get a 324 00:23:41.780 --> 00:23:47.460 deal but we do it by pushing the other side the nice thing that happens when you 325 00:23:47.460 --> 00:23:50.540 do this and this is what most people do when they're picking their price so who 326 00:23:50.540 --> 00:23:53.020 here has picked a price for something they're selling recently can I get 327 00:23:53.020 --> 00:23:57.180 hand thank you by the way means the world to me that when you raise your hands 328 00:23:57.180 --> 00:24:01.740 when I do that because it gives me feedback okay so this is what most people do 329 00:24:01.740 --> 00:24:06.460 they look at the marketplace they look at everyone else is doing number two they 330 00:24:06.460 --> 00:24:09.820 see what everyone else offers in terms of what they're actually providing number 331 00:24:09.820 --> 00:24:14.380 three they take the average number four they go slightly below to remain 332 00:24:14.380 --> 00:24:19.580 competitive of course and then they provide with their competitor offers a little 333 00:24:19.580 --> 00:24:26.420 bit more for a little bit less right great value what's interesting about that is 334 00:24:26.420 --> 00:24:31.740 that they're looking competitors and the funny thing is everyone's broke you might 335 00:24:31.740 --> 00:24:37.300 know this mushroom competitors broke I see a ton of P&L statements every single 336 00:24:37.300 --> 00:24:43.860 day they come to fractures not calm so many businesses broke his fuck don't look 337 00:24:43.860 --> 00:24:47.340 at that they don't know what they're doing why would you take the average of the 338 00:24:47.340 --> 00:24:54.220 mediocre right don't look at them they're poor forget about it right there 339 00:24:54.220 --> 00:24:57.540 yeah that was the that was a slot I wanted to show you what happens is when you 340 00:24:57.540 --> 00:25:03.220 have a commodity driven or price driven market or offering you continue to 341 00:25:03.220 --> 00:25:06.380 compete on price and so what happens is everyone offers a little bit more for 342 00:25:06.380 --> 00:25:09.740 a little bit less and they keep going until basically everyone's a non-profit 343 00:25:09.740 --> 00:25:14.020 everyone keeps their head barely above water one month's profitable one 344 00:25:14.020 --> 00:25:16.620 month's not one month's profitable is this in my town anybody their life story 345 00:25:16.620 --> 00:25:21.500 right now anyone okay and it's because you're playing the wrong game it's the 346 00:25:21.500 --> 00:25:25.860 wrong game you have to be in a place where it doesn't matter what anyone else is 347 00:25:25.860 --> 00:25:29.060 charging because why would you want to compete with them then you have to be 348 00:25:29.060 --> 00:25:36.580 compared sucks no fun right so we want to have a virtuous cycle of price rather 349 00:25:36.580 --> 00:25:38.860 than a vicious cycle of price because if everyone's doing a little bit more for 350 00:25:38.860 --> 00:25:40.980 a little bit less a little bit more for a little bit less than everyone can't do 351 00:25:40.980 --> 00:25:45.860 any more for any less which sucks so this is the better way call this the 352 00:25:45.860 --> 00:25:53.020 virtuous cycle of price when you increase your price your prospects increase 353 00:25:53.020 --> 00:25:57.420 their emotional investment they increase their perceived value when you increase 354 00:25:57.420 --> 00:26:02.380 your price their results increase as a consequence of their emotional 355 00:26:02.380 --> 00:26:08.820 investment their demandingness goes down when you charge more anyone had the rich 356 00:26:08.820 --> 00:26:11.060 client who just says oh yeah I sent the wire this morning and then somebody's 357 00:26:11.060 --> 00:26:16.300 fighting you over fifty dollars anyone else yes of course I'm a great 358 00:26:16.300 --> 00:26:21.660 client I just said money I might just don't be an ass thank you right when you 359 00:26:21.660 --> 00:26:25.740 increase the price I can't even root it says revenue for fulfillment 360 00:26:25.740 --> 00:26:29.500 progressmen you make more money so you can actually do better shit for them so 361 00:26:29.500 --> 00:26:33.580 you actually in a very real way get better and the more you do this the more your 362 00:26:33.580 --> 00:26:37.300 price goes up the more their inverse emotional investment goes up the more they 363 00:26:37.300 --> 00:26:40.860 value it the better the results get the less demanding they are and the more 364 00:26:40.860 --> 00:26:44.300 money you have left over to continue to reinvest in the value can provide them 365 00:26:44.300 --> 00:26:48.620 becomes a virtuous cycle right and the flip side of that is that you decrease 366 00:26:48.620 --> 00:26:51.380 your price they decrease their emotional investment they decrease their 367 00:26:51.380 --> 00:26:53.900 perceived value because they see you as a cheap alternative they decrease their 368 00:26:53.900 --> 00:26:56.420 results because they don't give a fuck about it they become more demanding 369 00:26:56.420 --> 00:26:59.660 because they're cheap skates and then finally you have less money left over to 370 00:26:59.660 --> 00:27:06.220 provide value is this making sense okay and wait there's more your business when 371 00:27:06.220 --> 00:27:10.580 you increase your price you make way more profit right you feel better because 372 00:27:10.580 --> 00:27:14.900 you're like I'm a good business person I make money I'm good at this game right 373 00:27:14.900 --> 00:27:18.620 so you increase your you increase your profit you increase how much you feel 374 00:27:18.620 --> 00:27:22.100 about yourself your perception of impact because of the results goes up because 375 00:27:22.100 --> 00:27:24.380 you're like I'm doing good in the world not only am I making more money am I 376 00:27:24.380 --> 00:27:27.700 going to business I'm actually helping people because I have profit left over to 377 00:27:27.700 --> 00:27:33.100 actually invest in the value right now our service level increases because the 378 00:27:33.100 --> 00:27:36.940 people that I can attract as a result right because you can pay more people 379 00:27:36.940 --> 00:27:41.020 like from a playlist thing and we have sales team conviction and this is 380 00:27:41.020 --> 00:27:47.860 actually a really underrated one I've trained a lot of sales teams in my life the 381 00:27:47.860 --> 00:27:53.860 one thing that trumps all training is belief and if they believe the heart of 382 00:27:53.860 --> 00:27:58.180 the founder the heart of the CEO is to actually help the people that you are 383 00:27:58.180 --> 00:28:03.700 selling to they will sell with a completely different frame the best sales 384 00:28:03.700 --> 00:28:07.860 person that we had in our in our company at Jim much we still have I have heard 385 00:28:07.860 --> 00:28:17.660 his calls the man is a savage like like psychopath love you I've heard him on 386 00:28:17.660 --> 00:28:22.300 calls after they the third or fourth objection and he'll just take his take his 387 00:28:22.300 --> 00:28:30.020 hat off and no rub his eyes and he's like I'm not giving up on you Dan he's 388 00:28:30.020 --> 00:28:34.060 like I I know you need this and now you got a lot of stuff that's that's 389 00:28:34.060 --> 00:28:37.020 preventing you say but I know that this is the thing that you need to get to 390 00:28:37.020 --> 00:28:40.100 where you want to go it's like so let's let's keep talking through it let's 391 00:28:40.100 --> 00:28:44.260 figure this out man it's like there's only one way that your life is going to 392 00:28:44.260 --> 00:28:48.140 change it's through us like I know I know everyone else's stuff I know you got 393 00:28:48.140 --> 00:28:51.700 no other options like I'm your guy so let's make this work and like I have seen 394 00:28:51.700 --> 00:28:56.300 you do this again and again now how many people on your sales team after they get 395 00:28:56.300 --> 00:29:04.580 one objection right because they don't believe because if they really believed 396 00:29:04.580 --> 00:29:10.140 this is this is a really good example so let's say that you could go back in 397 00:29:10.140 --> 00:29:16.020 time to yourself and give yourself one investing tip just one 10 years ago 398 00:29:16.020 --> 00:29:21.220 there's probably a stock or a thing or whatever that was really small then would 399 00:29:21.220 --> 00:29:24.340 be really big now probably change your life right think of that thing in your 400 00:29:24.340 --> 00:29:29.080 head now imagine you go now but you don't look like you but you're seeing your 401 00:29:29.080 --> 00:29:33.960 old self 10 years ago and you're like you have to do this thing and you can't say 402 00:29:33.960 --> 00:29:40.600 that it's you how convicted would you be to get them to do the thing they'd be like 403 00:29:40.600 --> 00:29:48.260 no I'm not really knowing any of that stuff you're like you need to do this come 404 00:29:48.260 --> 00:29:53.900 on man the thing is is that that frame is the frame of what good sales 405 00:29:53.900 --> 00:29:58.460 when saw with because they genuinely want the person to do the thing to benefit 406 00:29:58.460 --> 00:30:02.740 if you are the cheapest price and that's not what you built your business 407 00:30:02.740 --> 00:30:05.900 strategy around so I want to be very clear there is a strategy of being a low 408 00:30:05.900 --> 00:30:09.660 cost later virtually every person who I've heard say that they're cutting their 409 00:30:09.660 --> 00:30:12.460 prices to get more customers that was not the strategy it started their 410 00:30:12.460 --> 00:30:16.260 business with the only way you can start that as your strategy is that from day 411 00:30:16.260 --> 00:30:20.580 one you have a cost driven culture you build a tech tool that automates a 412 00:30:20.580 --> 00:30:25.020 ton of manual labor you take labor from overseas exclusively you have a 413 00:30:25.020 --> 00:30:29.660 culture of cost-cutting budgeting like Walmart that's their strategy for 414 00:30:29.660 --> 00:30:33.180 virtually everyone else there is no benefit to trying to keep cutting your 415 00:30:33.180 --> 00:30:39.820 prices but there's a very big one for being the most valuable you dig all right 416 00:30:39.820 --> 00:30:45.220 quick one so they did this science experiment which I think is really cool and 417 00:30:45.220 --> 00:30:49.940 they presented three wines to blind taste sesters and they said they didn't 418 00:30:49.940 --> 00:30:52.820 say this they're like there's a cheap wine there's a middle price wine an 419 00:30:52.820 --> 00:30:56.500 expensive one so those are the three wines they people try them right and then 420 00:30:56.500 --> 00:31:01.020 after they tried them they had them rate them so they said the the cheap one 421 00:31:01.020 --> 00:31:03.740 tasted like cheap wine the middle one tasted like medium wine and the 422 00:31:03.740 --> 00:31:08.620 expensive one tasted like great wine right here's what's wild they're the exact 423 00:31:08.620 --> 00:31:16.740 same fucking wine there's a bidirectional relations between price and value 424 00:31:16.740 --> 00:31:22.220 people if you want to in a very real way increase the value that people perceive 425 00:31:22.220 --> 00:31:27.860 about your product you can make it more expensive and they will value it more 426 00:31:27.860 --> 00:31:35.620 how nuts is that it also makes you more money right there's my head right 427 00:31:35.620 --> 00:31:42.740 bono which means price itself is a component of value so the goal is to be 428 00:31:42.740 --> 00:31:47.300 so much more expensive than a consumer must pause and think this can't be the 429 00:31:47.300 --> 00:31:51.860 same category of solutions everyone else it's so much more expensive this can't 430 00:31:51.860 --> 00:31:56.140 be the same thing right and then it pulls you into another category so you make 431 00:31:56.140 --> 00:32:01.340 a decision or you force them to make a decision in a vacuum all right no if you 432 00:32:01.340 --> 00:32:05.620 have any kind of service this is more for services if you have a service where 433 00:32:05.620 --> 00:32:09.740 a client has to perform something in order to be successful then it would 434 00:32:09.740 --> 00:32:12.700 fall that the more invested they are the more invested they'll be which in turn 435 00:32:12.700 --> 00:32:17.060 creates better students and better outcomes so like if you want to help 436 00:32:17.060 --> 00:32:21.460 someone you have to charge them enough that it would hurt them so that they 437 00:32:21.460 --> 00:32:27.420 actually do it the most the most successful weight loss offer I think of all 438 00:32:27.420 --> 00:32:33.020 time I am a little bit biased was the one that we ran for Jim lunch it's called 439 00:32:33.020 --> 00:32:37.380 the six-week challenge here's the stick people would come in we would say hey 440 00:32:37.380 --> 00:32:42.860 you can lose 20 pounds six weeks you put $500 down if you lose the weight you 441 00:32:42.860 --> 00:32:47.160 get the money back everyone had real skin in the game there's a number one 442 00:32:47.160 --> 00:32:50.780 offer for the entire industry for almost five years because it was so 443 00:32:50.780 --> 00:32:54.460 compelling compared to like a membership or whatever bullshit thing that was 444 00:32:54.460 --> 00:33:03.580 out there and when we did that we had 78% of people succeed and hit the 445 00:33:03.580 --> 00:33:06.500 goal people were like oh is the stick that you like no one hit it I was like no 446 00:33:06.500 --> 00:33:09.340 people want to get their money back the stick was that most people need to lose 447 00:33:09.340 --> 00:33:12.700 more than 20 pounds right or when you lose 20 pounds you look yourself in 448 00:33:12.700 --> 00:33:14.780 me you're like I look pretty flabbing you're like right you should tone up we 449 00:33:14.780 --> 00:33:17.700 should do the rest of the stuff right so that was the thing but they believed 450 00:33:17.700 --> 00:33:21.940 that we could help them because we did and we got them invested more than a 451 00:33:21.940 --> 00:33:25.860 traditional gym membership plus remember we're competing in $29 membership so 452 00:33:25.860 --> 00:33:29.980 500 is very very expensive that makes sense think about how you can apply this 453 00:33:29.980 --> 00:33:36.060 within your own business to separate and create another category right so when 454 00:33:36.060 --> 00:33:39.460 you charge more you also as a side note increase the quality of your 455 00:33:39.460 --> 00:33:45.260 prospects which increases the quality of your product like I said earlier with 456 00:33:45.260 --> 00:33:48.860 the CRO example if you increase the prices it takes all the shitty people out 457 00:33:48.860 --> 00:33:52.420 and then by doing that you only get people who are smarter more able et cetera 458 00:33:52.420 --> 00:33:55.460 and then all of a sudden your percentage of results go up because you're dealing 459 00:33:55.460 --> 00:33:59.700 with the right people right don't have to sell to everybody so we actually did 460 00:33:59.700 --> 00:34:02.300 this with one this is a different way lost print one of our portfolio 461 00:34:02.300 --> 00:34:07.300 companies they were doing 450,000 a month five to one row as closer was 30 462 00:34:07.300 --> 00:34:12.940 percent profit was about 150,000 a month and so we made one change to the 463 00:34:12.940 --> 00:34:18.340 business I looked at everything I was like we're just gonna raise your price by 464 00:34:18.340 --> 00:34:23.140 50 percent change nothing else I was like what about all the other like let's 465 00:34:23.140 --> 00:34:27.380 just do that it's like really like that's that's it that's what we're gonna do 466 00:34:27.380 --> 00:34:32.540 like of all the levers we have in percentage like I already done a bunch of 467 00:34:32.540 --> 00:34:35.220 research on other people their competitors etc. I was like I think the 468 00:34:35.220 --> 00:34:41.780 price the market gets to sustain this here's what's crazy went to a million a 469 00:34:41.780 --> 00:34:52.700 month with an eight weeks to 10 to one row as their close rate went up and their 470 00:34:52.700 --> 00:34:58.540 profit almost tripled in eight weeks because people believe that the thing was 471 00:34:58.540 --> 00:35:03.380 going to be worth more and they got better results as a consequence and they 472 00:35:03.380 --> 00:35:11.140 got better people to buy there you go so 2.76 or six up okay that's why you 473 00:35:11.140 --> 00:35:14.260 charge a lot for it so making making offers will make you more money than 474 00:35:14.260 --> 00:35:18.020 anything else number two while making why selling the right people will make you 475 00:35:18.020 --> 00:35:22.380 more money number three why you charge a lot of money for it number four how to 476 00:35:22.380 --> 00:35:29.780 reverse engineer value I'm gonna do it on time okay so I'm gonna go over is that 477 00:35:29.780 --> 00:35:36.820 cool all right okay so if you're gonna charge a lot of money for it you might as 478 00:35:36.820 --> 00:35:45.260 won't make it remarkable so this was our gym lords event there's 700 479 00:35:45.260 --> 00:35:52.220 people in this room 42,000 year each wild right so my dad saw this picture on 480 00:35:52.220 --> 00:35:56.380 Facebook cost me up and he's like hey I saw that event I thought I was supposed 481 00:35:56.380 --> 00:36:01.940 to be like for you're really expensive high paying people I was like it was he's 482 00:36:01.940 --> 00:36:07.580 like no the one that was like 40,000 year I was like yeah it was it's like do 483 00:36:07.580 --> 00:36:13.180 they know that you're that you're charging them that money and I was like yeah 484 00:36:13.180 --> 00:36:16.180 they're aware I'm not magically siphoning money from their account they're 485 00:36:16.180 --> 00:36:24.460 aware but like blue is like couldn't couldn't fathom it right there and so 486 00:36:24.460 --> 00:36:30.220 it's like okay so I could this is like a teaching moment right so it's like all 487 00:36:30.220 --> 00:36:36.740 right well I'll bet you that you would pay me that amount of money to he's like 488 00:36:36.740 --> 00:36:42.380 what I was like okay so let's say that I could triple the profit of your 489 00:36:42.380 --> 00:36:48.940 business because he's a small business I was like okay I was like and I would 490 00:36:48.940 --> 00:36:55.580 and I could do that he's like well what would I have to do like you'd have to 491 00:36:55.580 --> 00:37:00.020 show up 10 hours a week more than you currently do it's like okay I could do 492 00:37:00.020 --> 00:37:04.500 that it's like well had anyone like would anybody else have already done this 493 00:37:04.500 --> 00:37:07.940 thing too and I was like yeah 4,000 people would already have gone through the 494 00:37:07.940 --> 00:37:12.580 same process as what I would be taking you through it's like how long would I 495 00:37:12.580 --> 00:37:18.940 have to wait it's like about a year for you to get I was like it would be eight 496 00:37:18.940 --> 00:37:23.980 weeks for you to ROI and then 12 months yes okay well then you know what we're 497 00:37:23.980 --> 00:37:27.740 gonna do value equations awesome fucking rocks there's four variables you got to 498 00:37:27.740 --> 00:37:32.140 charge something that's have a dream outcome that's amazing you have to 499 00:37:32.140 --> 00:37:34.340 increase the perceived likelihood of achievement which is the questions my 500 00:37:34.340 --> 00:37:37.580 father is asking me you have to do it as fast as you can you have to make it 501 00:37:37.580 --> 00:37:40.540 as easy as possible if you think about those four things within the value that 502 00:37:40.540 --> 00:37:46.300 you're charging you will make something more valuable so good fast cheap easy so 503 00:37:46.300 --> 00:37:49.740 how can you make it easier how can you deliver it faster how can you make 504 00:37:49.740 --> 00:37:53.020 sure it's something they actually want and how can you increase or decrease 505 00:37:53.020 --> 00:37:57.700 the risk that the associate with the purchase to make sense okay so lots of 506 00:37:57.700 --> 00:38:05.500 variables lots of da very fun there's all process to this exciting cool everyone 507 00:38:05.500 --> 00:38:10.860 understand how to reverse engineer value fantastic so we got two left or this 508 00:38:10.860 --> 00:38:15.460 is the one left so here's my quick recap I understand why making better off 509 00:38:15.460 --> 00:38:19.700 the strongest lever you have to grow your business yes number two and you can 510 00:38:19.700 --> 00:38:23.340 say yes back does everyone understand that a big component values picking the 511 00:38:23.340 --> 00:38:28.060 right people say yes is everyone understand the direct link between price and 512 00:38:28.060 --> 00:38:31.340 value in that increasing it both increases the perceived value and your 513 00:38:31.340 --> 00:38:35.700 profits say yes number four is everyone understand that value isn't in a 514 00:38:35.700 --> 00:38:40.420 Morphus word but a formula that can be repeated over and over again say yes all 515 00:38:40.420 --> 00:38:44.980 right last piece is a demonstration so I said five minutes there we go we're 516 00:38:44.980 --> 00:38:52.900 good there we go so how do you scarcity urgency guarantees bonuses and 517 00:38:52.900 --> 00:38:56.100 naming there's a lot of other things you can do to enhance the value get more 518 00:38:56.100 --> 00:39:00.340 people to buy your shit I obviously can't do it in the next three minutes but I'm 519 00:39:00.340 --> 00:39:04.220 gonna do my best to give you a demonstration all right so we're gonna do an 520 00:39:04.220 --> 00:39:07.780 exercise to wrap this up and I think we'll do more any we'll do more for you 521 00:39:07.780 --> 00:39:11.300 than anything I'd say with slides okay so I'm gonna say you book for a hundred 522 00:39:11.300 --> 00:39:17.660 grand cool excited fantastic just getting a thousand dollars here's the 523 00:39:17.660 --> 00:39:21.180 directions the moment you feel that a thousand dollars of value has been created 524 00:39:21.180 --> 00:39:28.980 please stand okay thank you hundred grand just getting tacked off a great let 525 00:39:28.980 --> 00:39:34.380 the value building begin so I have a really good book and I will sell it to 526 00:39:34.380 --> 00:39:40.960 you for a thousand dollars who would like it okay fair enough please stand if 527 00:39:40.960 --> 00:39:49.900 that was worth it it's the best seller is that change anything no okay that's 528 00:39:49.900 --> 00:39:58.260 fine I find I gotta get my works head up it's my book one I got one two three 529 00:39:58.260 --> 00:40:04.020 there we go all right I'm feeling it thank you it's got almost eight thousand 530 00:40:04.020 --> 00:40:10.980 five stars worth a thousand yet worth a thousand okay I see you it's been 531 00:40:10.980 --> 00:40:17.660 number one four and seven best seller for 13 straight months still worth 532 00:40:17.660 --> 00:40:23.820 thousand bucks yet maybe maybe not this guy four X his monthly revenue this guy 533 00:40:23.820 --> 00:40:27.580 reads a book a month and said that was his book of the year and he quadrupled 534 00:40:27.580 --> 00:40:30.820 his revenue at his business just from reading that book worth a thousand 535 00:40:30.820 --> 00:40:36.020 bucks anyone stay standing stay standing stay standing stay standing I'll 536 00:40:36.020 --> 00:40:39.580 repeat the directions please stand and stay standing if you think the books were 537 00:40:39.580 --> 00:40:50.040 thousand all right by autograph the book do I have my markers area we do have 538 00:40:50.040 --> 00:40:57.480 markers so right now there are only six autograph books including one that I 539 00:40:57.480 --> 00:41:05.760 did earlier in existence is there worth a thousand bucks yet wait I'll also put 540 00:41:05.760 --> 00:41:20.200 my personal soft phone in the book I have ten I've ten of these all right get 541 00:41:20.200 --> 00:41:25.840 some standing wait I'll also review four of your sales calls including your sales 542 00:41:25.840 --> 00:41:29.440 management meeting which right now we can usually get a 30-50% boost in sales 543 00:41:29.440 --> 00:41:33.720 across your organization and I'll include it with it is that worth a thousand 544 00:41:33.720 --> 00:41:39.280 bucks we'll also have my traffic I right now we do about 20,000 leads a day 545 00:41:39.280 --> 00:41:43.600 across all of our portfolio companies so I'll have my traffic I look at your 546 00:41:43.600 --> 00:41:46.600 entire funnel it's usually about a 10 to 11 page right up we'll look at every 547 00:41:46.600 --> 00:41:50.240 VSL every video every add end-to-end and we'll give you the whole right up 548 00:41:50.240 --> 00:41:54.280 everything you can do to get more traffic in which normally we're more than two 549 00:41:54.280 --> 00:42:01.320 Brexit but I feel confident too worth a thousand all right we'll also use my 550 00:42:01.320 --> 00:42:05.600 network from Layla's process to find the person in your business that is 551 00:42:05.600 --> 00:42:10.040 missing who is the thing that's going to unlock the growth that you need please 552 00:42:10.040 --> 00:42:14.200 stand if it's worth a thousand fantastic I'll also spend two hours with you 553 00:42:14.200 --> 00:42:18.560 going over your offer one-on-one to figure out a way to use all the stuff that 554 00:42:18.560 --> 00:42:23.720 we said here some judo tricks that I didn't share to make to get you more clicks 555 00:42:23.720 --> 00:42:29.720 more sales at higher prices worth a thousand I'll also feature that two 556 00:42:29.720 --> 00:42:34.520 hours on my show which right now gets about 10 million impressions which the 557 00:42:34.520 --> 00:42:37.520 ad space sells for about a hundred thousand dollars an episode I got it given 558 00:42:37.520 --> 00:42:41.800 to me and I said no but about a hundred grand per episode in impressions so I'll 559 00:42:41.800 --> 00:42:45.480 feature on that show that's just for 90 seconds you'd get the whole thing 560 00:42:45.480 --> 00:42:50.080 please stand right I'll also guarantee you three times whatever you paid me over 561 00:42:50.080 --> 00:42:56.920 12 months that's the fine print over 12 months that fair worth a thousand and 562 00:42:56.920 --> 00:43:14.600 there's only one book not 10 so look around real quick you can I can see your 563 00:43:14.600 --> 00:43:21.280 heads are not looking okay tell yourself 25 dollar book for a hundred and so 564 00:43:21.280 --> 00:43:24.440 please stand and stay standing does everyone understand how you can use 565 00:43:24.440 --> 00:43:29.240 scarcity urgency guarantees bonuses and naming to increase the value of the 566 00:43:29.240 --> 00:43:34.460 thing yourself yes does everyone understand how now you can use this office 567 00:43:34.460 --> 00:43:37.580 room to provide more value sell to better clients for higher prices and higher 568 00:43:37.580 --> 00:43:41.280 volume yes so great you can take your phone