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because the proctor you have is not good enough and it's really hard to confront.

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Welcome to the game where we talk about how to get more customers, how to make more

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customers, how to keep them longer, and the many failures and lessons we have learned

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along the way. I hope you enjoy and subscribe.

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One of the biggest shifts that I had is an entrepreneur going from, you know,

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making a few hundred thousand dollars a year, a million dollars a year, to making, you know,

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just internet figures like we do now. It has been a simple understanding that I'm

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going to try and hit at in a couple of different ways and hopefully you'll be able to shift

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your perspective in terms of how you see product and delivery. And so right now, if you're

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not making the amount of money that you want to make, it's because the proctor you have is not

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good enough and it's really hard to confront that fact. But if you really do and sit here,

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I can't tell you the amount of times I talk to entrepreneurs and they're like,

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man, if I just had more people, if more people would just find out about my product,

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then all my problems would be solved. But the reality is that if you have any amount of customers,

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then people already have found out about your product. And for one reason or another,

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they have chosen not to tell anyone else about it. And you have to sit with that for a second.

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You have to realize that like people have found out about your product and they're not referring

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people and you have to ask why? Why are these people not sending me business? And so one of the,

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one of the first times I heard a statement that I really liked about this was from Dean Kennedy and he

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said, most small entrepreneurs try and get customers to make sales. Bigger entrepreneurs try to

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make sales to get customers. And the difference is one person is all about trying to get to the

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money as fast as possible. What do I need to say to get this person say, yes, what do I need to say

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to get this person to buy? How do I get the money? The other way is how do I make some sort of

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exchange so that I can now create a long time relationship with this customer and continue to

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provide value over time? One has a compounding view and perspective on time and value and the

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other is short-sighted. And I can tell you the difference between the people who are millionaires

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that I have friends with and people who are billionaires that I am friends with. This is

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probably one of the most fundamental differences. And so I was talking to a friend of mine who's

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worth over a billion and he was saying, he said, if it's not going to grow on its own over time,

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it's not worth doing. And I really sat with that for a second and it was like, if I,

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if you put in a one-time effort, like this is what, this is how people who are the ultra wealthy

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think. If you put one-time effort into something and it compounds over time, then that is an

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enterprise or product that they want to continue to invest in. On the flip side, if you have to

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consistently show up and consistently promote and consistently get out there and sell and sell and

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do all this stuff, then what ends up happening is that the product itself is not good enough,

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right? Because people in and of themselves are not referring business. And so let me,

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let me give you three questions that really changed and hopefully will alter your perspective

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like they did mind around product and service. And so the first is, if I have an existing product

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or service and I were to make it 10 times more expensive, so really think about the price, so

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or you can say a hundred thousand dollars or a million dollars, whatever it is, right? Just

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huge number. And if that's how much I'm charging for it, what would I need to do? What would the

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experience need to be? What would the product need to deliver in order for it to be worth that much?

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What happens is you start thinking in a very different type of mindset about how much value

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you have to create, right? And so that is the first question that I ask. There's two more in the

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third one's my favorite and I'll get to in a second. The second question I ask is if this product

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that I have cost one tenth as much as it does right now, but I had to make it better than it

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currently is, what would I need to do? What one-time assets would I need to create that would

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consistently provide value that I could do at scale that could I could do profitably, right? So

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Hey guys, real quick. If you're new to the podcast, I have a book on Amazon called 100

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million dollar offers that over 8,000 five star reviews and it has almost a perfect score. You

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can get it for 99 cents on Kindle. The reason I bring it up is that I put over a thousand hours

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into writing that book and it's my biggest gift for our community. So it's my very shameless

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way of trying to get you to like me more and ultimately make more dollars to that later on in your

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business career. I can finish the part with you. So that's my gift. Go check it out. Amazon and

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back to the show. First question. If this were 10 times expensive or 100,000 or a million dollars

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is what I charge for my product, what would it need to be? What would the experience need to be?

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And what value would I need to deliver in order for it to be worth that much? The second question

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is if it were one tenth the cost, but I had to make it better than my current product or service.

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What else would I create or do or make in order to facilitate that outcome?

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And the third question, which is probably my favorite, which I think underpins the entire ideology

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that I'm hitting on here, is if I had a business and I were only allowed to sell one more customer

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and the rest of the growth of my business had to come from that customer without me asking

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as in that that customer's experience was so remarkable, was so positive, was so amazing

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that they alone had to on their own volition tell other people about my service.

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What would need to happen? What would need to happen to create that experience?

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And when thinking about all three of these product frames, I like them because they kind of

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hit on different aspects of the product. The first question, which is 100,000 or a million dollar

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question, hits on value, which is how do I create the most value in the product itself?

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The second question hits on the profit of the product because if it's one tenth the cost and I have

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to make it better, this means that I have to do high margin, one time investment type things to

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make the entire product more valuable. So that hits on profit. So first is the value of the product,

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the second is the profit to me as a business owner. And the third question, hits on the experience,

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which is what's the customer experience, which is everything else that surrounds the product that

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we're selling or service that we're selling. What is the experience that has to occur in order

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for this customer to become a raving fan? It's so good that they remark about it that cannot help

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themselves but remark about it. And what's interesting is that every super wealthy person that I know

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pretty much exclusively talks about products and usually the really small people that I know only

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talk about promotion. And promotion should really only exist to get your product right and then once

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it is right, then you can juice it and then let it go and take care of itself. And the reason that it's

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so important, at least in my opinion, is that if you think about the six ways of getting customers,

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right? And if you don't know what those are, it's paid media, earned media. So paid media is

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advertising, right, in promotions. Earned media is following, right? If you have any kind of organic

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following, the third is through your contact list. So people on your phone and your email list,

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it's said that you already own their contact information. The fourth is through manual outbound.

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So that's DMs, cold emails, cold calls, cold all of that stuff where you reach out to people.

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The fifth is through affiliates of partners who can promote your stuff. And the sixth, which is the

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most powerful and the only one that compounds is word of mouth. So think about that for a second.

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Every of the other five ways of acquiring customers is not compounding. Those are linearly scaled,

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right? It means if you double the amount of outbound people you have, you double the amount of

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customers that you get. If you double your ad spend, you might be able to double the amount of

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customers you get. Sometimes it's less than that. But you get the idea. They scale relatively

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linearly, right? Whereas word of mouth referrals, which is the sixth way of getting customers,

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is the only one that compounds. It multiplies rather than is additive. All right? If you get two people

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to tell two people, and those people tell two people that it continues to compound, and that is what

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creates enterprise value, that is what creates an enduring thing. And that is what when you spend

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the extra time to make the product so good that people have to tell their friends about it,

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then that's where you get the underneath scale. And also it's where all the profit is, right?

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You don't have to worry about the turn as much because the product's so good. You don't have to

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worry about the negative reviews because the product's so good. You don't have to worry about

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customers badmouthing you because instead they're telling their friends about how good you are.

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And this has been one of the shifts that has been most helpful for me. And honestly, when I look

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back on my own trajectory, how much I talk about promotion in the beginning of my career versus

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now I talk so much more about people in product. And anyways, I wanted to share this with you because

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it was, I could tell you how good I am about this kind of stuff. Anyways, the real nuts of this is

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that everything that the ultra wealthy do is compounding. It grows with time, we're time to

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an asset instead of liability. And if everything you do, you have to go out and get more business,

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go out and get more business, go out and get more business, right? It means that it requires

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effort every single day. Whereas if you put a lot of frontend effort, which is the investment,

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which is the patience, right, to make the thing that much better in the beginning,

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then it will pay you dividends over time. And most people skip that step because they just want to

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make the first sale. They're just trying to get a customer to make a sale rather than trying to

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make a sale to get a customer. And so anyways, I hope you found this valuable. I cover this stuff

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in my book, which is basically free. It's 99 cents. It's the cheapest I could let Amazon do it.

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It's called $100 million offers. If you want to grab it, I'm donating the 35 cents that Amazon

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gives you. It gives me, it's for you guys. It's everything that I've learned about how to

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create offers that are so good. People feel stupid saying no. I think it's the number one seller

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in advertising and direct marketing on Amazon right now. Love you all. Hope you got the value from

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this. If you did, hit that subscribe button. And I'll see you guys in the next video.

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Love you all. See you soon. Bye!