WEBVTT 1 00:00:00.000 --> 00:00:07.360 Completely bombed a stage presentation and one of the most important lessons that I've learned from it that has made me a lot of money since then 2 00:00:12.000 --> 00:00:14.320 Welcome to the game where we talk about how to get more customers 3 00:00:14.320 --> 00:00:18.720 How to make more customers how to keep them longer and the many failures and lessons we have learned along the way 4 00:00:18.720 --> 00:00:20.720 I hope you enjoy and subscribe 5 00:00:20.720 --> 00:00:25.120 In this video, I want to talk to you about a time where I bombed completely bombed 6 00:00:25.840 --> 00:00:31.440 A stage presentation and one of the most important lessons that I've learned from it that has made me a lot of money since then 7 00:00:32.080 --> 00:00:35.120 And has protected my reputation and gotten me a lot of goodwill 8 00:00:35.120 --> 00:00:44.560 So if you've ever like not known what to do or what to offer people or hey should I try and use this as an opportunity to build goodwill or forge a relationship or should I try and 9 00:00:45.360 --> 00:00:47.360 You know sell something or get a margin on this 10 00:00:47.360 --> 00:00:50.960 I want to tell you a couple different stories that kind of all illustrate the same point that I've learned 11 00:00:51.680 --> 00:00:53.040 over the last few years 12 00:00:53.120 --> 00:00:59.040 All right, and so one of my favorite kind of like bullets on this that you can you can write or downer is 13 00:00:59.600 --> 00:01:03.440 No half measures right either sell or don't sell 14 00:01:04.160 --> 00:01:08.960 But don't be in between and so the first time that this kind of happened for me was 15 00:01:10.000 --> 00:01:13.280 I was asked to speak at this kind of high-level 16 00:01:14.080 --> 00:01:16.080 Mastermind which happens relatively frequently 17 00:01:16.560 --> 00:01:19.120 But this one in particular was a was a fitness-related one 18 00:01:20.000 --> 00:01:26.160 And for me when I have presentations and stuff I usually spend a long time preparing sometimes I'll make a product 19 00:01:26.480 --> 00:01:27.360 um 20 00:01:27.360 --> 00:01:28.960 Actually that it was the only time I made a product 21 00:01:28.960 --> 00:01:31.200 But I spent a long time on the presentation 22 00:01:31.200 --> 00:01:35.680 So it's usually a big deal for me to say yes because it's like I'm gonna have to I'm gonna have to do a lot of work on my side 23 00:01:36.400 --> 00:01:37.600 And so 24 00:01:37.600 --> 00:01:44.000 Anyways, I had this this this this presentation in this pitch that I had made for a product that we had made specifically for this audience 25 00:01:45.280 --> 00:01:46.480 and 26 00:01:46.480 --> 00:01:49.600 And when I got there they had given me a three-hour time slot 27 00:01:49.760 --> 00:01:52.640 All right, which is insane and I think part of that was because 28 00:01:53.440 --> 00:01:56.080 They just wanted to have me talk as long as possible 29 00:01:57.200 --> 00:01:59.280 You know for their audience because they thought it would be valuable 30 00:01:59.760 --> 00:02:03.840 And so for whatever reason I agreed um, and things is like you can't pitch for three hours 31 00:02:04.160 --> 00:02:07.120 Or maybe you can but you can't straight pitch for three hours, right? 32 00:02:07.120 --> 00:02:09.840 And so what I decided to do is just provide you know a lot of value 33 00:02:10.640 --> 00:02:13.120 And then you know near the end after two and a half hours 34 00:02:13.120 --> 00:02:15.680 I was like I'll just kind of mention what we have going on right 35 00:02:16.720 --> 00:02:17.920 And so 36 00:02:17.920 --> 00:02:19.920 um, I get up there first off 37 00:02:20.560 --> 00:02:23.680 The the audience size is one third of what was what I was told 38 00:02:23.840 --> 00:02:26.400 So I was like, okay, that's a little bit different and disheartening 39 00:02:26.960 --> 00:02:32.160 Um, and I go and I you know piece by piece. I'm doing Q&A with the audience all that kind of stuff, right? 40 00:02:32.720 --> 00:02:37.920 And so as we transition um or as we as I transition to the pitch part, right? 41 00:02:38.560 --> 00:02:43.680 I uh, I pull up the the slide deck that's normally a you know a 90-minute slide presentation 42 00:02:44.160 --> 00:02:45.520 with the pitch and an offer and everything 43 00:02:46.480 --> 00:02:51.840 And I went through it and I was like, yeah, yeah, we talked about this and I'm going through the slides right like 44 00:02:52.320 --> 00:02:56.400 Like super fast just being like yep, and this you guys don't need me to tell you the story right 45 00:02:56.400 --> 00:03:03.600 You should understand this boom boom boom, and then at the very end I I basically make the pitch right without any kind of pre-frame 46 00:03:03.680 --> 00:03:06.800 And I go through it just like really fast and kind of half-assed 47 00:03:07.680 --> 00:03:09.840 and um, I bombed 48 00:03:10.800 --> 00:03:17.600 It was horrendous it was horrible um, I and then because I had so much speaking time 49 00:03:17.680 --> 00:03:20.320 They didn't take me off stage because I still had like time left 50 00:03:20.880 --> 00:03:25.440 And so I'm sitting there on stage having made the offer no one's moved and then 51 00:03:25.760 --> 00:03:30.480 People were and then all of a sudden right hand-star raising from the audience with with questions 52 00:03:30.880 --> 00:03:34.240 And I had never set uh sold anything that was cheap in my life 53 00:03:34.240 --> 00:03:35.600 So this was a two thousand dollar thing 54 00:03:35.600 --> 00:03:39.280 It was literally the first time in my entire life I've ever sold anything below 16,000 55 00:03:40.560 --> 00:03:44.000 You know, which is which was you know for our for into the fitness space, right? 56 00:03:45.040 --> 00:03:46.560 and 57 00:03:46.560 --> 00:03:51.440 Anywho uh, I thought this was like a no-brainer. It's too grand. You know what I mean just 58 00:03:52.000 --> 00:03:55.600 Buy it and then make a ton more money because it's it's stupid, right? 59 00:03:56.000 --> 00:03:58.000 Um, it's anyways 60 00:03:58.000 --> 00:04:01.280 I started having people be like hey, can I can I do a payment plan on the two thousand dollars? 61 00:04:01.760 --> 00:04:02.800 I remember 62 00:04:02.800 --> 00:04:06.240 feel like if you need a payment plan then uh don't buy it and 63 00:04:06.720 --> 00:04:10.160 Next watch it and someone's like I feel like um, you know 64 00:04:10.240 --> 00:04:12.720 The supplements that you have are against my 65 00:04:13.440 --> 00:04:17.760 My goodwill because we only I only promote vegan things and I was like cool then don't buy it 66 00:04:18.640 --> 00:04:24.960 and I and this is how the questions start unrolling like this vibe this tone right and you can just watch 67 00:04:25.520 --> 00:04:29.600 The plane just going towards the ground on fire burning right 68 00:04:30.320 --> 00:04:37.440 And so anyways, I do this for like 30 more minutes all right of Q&A of me just getting increasingly annoyed because a 69 00:04:37.440 --> 00:04:39.440 There's only like 30 people there 70 00:04:39.440 --> 00:04:43.840 Um, which there were supposed to be a lot more than that anyways, and so I remember 71 00:04:44.480 --> 00:04:49.840 The feeling I had afterwards which was just like anger and embarrassment and just like you know 72 00:04:49.840 --> 00:04:52.960 Humiliate all of those you know at once and mind you like 73 00:04:53.600 --> 00:04:57.760 At the time and this is then right we were doing about four million a month all right 74 00:04:57.840 --> 00:05:02.480 And so when I had some people were like well, how do we know it's going to like in a work for it a fitness 75 00:05:02.480 --> 00:05:07.600 I was like I have 4,000 freaking locations here like that use this licensing model 76 00:05:07.600 --> 00:05:12.400 I paired it down just for you guys so that you can use the materials at a at a at one eighth the price 77 00:05:12.400 --> 00:05:13.760 This is not a discussion right 78 00:05:14.560 --> 00:05:15.760 So anyways 79 00:05:15.760 --> 00:05:19.360 I remember sitting there and in the pain of the moment in the humiliation 80 00:05:19.360 --> 00:05:21.360 I was like what am I going to learn from this 81 00:05:21.360 --> 00:05:24.080 Which may be in and of itself something that you might be able to take with you 82 00:05:24.080 --> 00:05:27.040 But like whenever you have those like super emotional moments right 83 00:05:27.680 --> 00:05:32.240 I know from my conversations with Dr. Cashy that when you have extreme emotions 84 00:05:32.240 --> 00:05:36.080 You're actually in in hyper learning mode right so PTSD right 85 00:05:36.640 --> 00:05:42.480 The reason PTSD is where you're basically you turn your brain on and it goes into hyper learning mode 86 00:05:42.480 --> 00:05:46.240 Because there's trauma that is going around you right and or you know 87 00:05:46.240 --> 00:05:49.120 There's it's a traumatic experience which just means super heightened emotions 88 00:05:49.120 --> 00:05:52.640 And so what happens is your brain says learn from this right 89 00:05:52.640 --> 00:05:55.200 And then it starts ingraining these things so that when you hear a lot of noises 90 00:05:55.200 --> 00:05:58.400 Then you get amped and then etc right and so it's the same kind of thing 91 00:05:58.400 --> 00:06:01.120 So if you have these emotional moments this is for me this is what I do 92 00:06:01.120 --> 00:06:04.400 Is I try and think like what am I going to try and ingrain in my brain right now 93 00:06:04.400 --> 00:06:07.600 Because I have an opportunity to hyper learn something in these moments 94 00:06:08.000 --> 00:06:09.200 And so 95 00:06:09.200 --> 00:06:12.640 The lesson that I learned and I'll tell you another story in a second that really drove this home 96 00:06:13.040 --> 00:06:14.000 um 97 00:06:14.000 --> 00:06:15.520 Is 98 00:06:15.520 --> 00:06:19.280 No half measures either pitch or don't pitch all right 99 00:06:19.280 --> 00:06:23.840 So if you go into a business meeting or you go to a conference or you go to a whatever right 100 00:06:24.480 --> 00:06:30.880 Either ask hard or do not ask at all. There is no half asked asking all right 101 00:06:30.880 --> 00:06:34.560 And this is a lesson that I have learned hard. I actually had one of my 102 00:06:34.960 --> 00:06:39.760 One of my execs he ended up pitching because this is you know now that we moved ourselves out of that business 103 00:06:39.760 --> 00:06:40.880 And now we're just on top of it 104 00:06:40.880 --> 00:06:44.480 But the um the one of the the execs in my gym business 105 00:06:45.440 --> 00:06:46.080 Uh 106 00:06:46.160 --> 00:06:48.960 He he he he have pitched something to our audience 107 00:06:49.280 --> 00:06:53.920 He like half pitched is like you guys don't need me to do this scarcity thing right you guys don't need me to do these guarantees right 108 00:06:53.920 --> 00:06:57.680 You don't need me to do these actually these bonuses right and I was like what are you doing? 109 00:06:57.760 --> 00:06:59.520 I remember because the I was like that is how you pitch 110 00:06:59.520 --> 00:07:01.520 You're saying that they don't need all the things that persuade them 111 00:07:01.520 --> 00:07:04.400 He's like well, they know because we teach them how to do this stuff and I was like yeah, but like 112 00:07:04.960 --> 00:07:06.960 People still need it to make decisions 113 00:07:07.280 --> 00:07:10.000 And so he bombed that and he learned the lesson himself 114 00:07:10.000 --> 00:07:12.000 So my goal is that you don't have to bomb it 115 00:07:12.240 --> 00:07:14.160 Uh to learn the lesson right 116 00:07:14.240 --> 00:07:20.400 And so let me tell you the upside of this here's the flip side right so I talked about just now how you can how like no 117 00:07:20.400 --> 00:07:22.800 Half measures either pitch or don't pitch right don't go in the middle 118 00:07:25.760 --> 00:07:30.240 Real quick wise you guys already know that I don't run any ads on this and I don't sell anything 119 00:07:30.320 --> 00:07:34.560 And so the only ask that I can ever have are you guys that you help me spread the words we can out more entrepreneurs 120 00:07:35.040 --> 00:07:38.560 Make more money feed their families make better products and have better 121 00:07:38.560 --> 00:07:40.720 Experiences for their employees and customers 122 00:07:40.720 --> 00:07:45.120 And the only way we do that is if you can rate and review and share this podcast 123 00:07:45.200 --> 00:07:47.680 So the single thing that I have to do is you can just leave review 124 00:07:47.680 --> 00:07:53.120 If I take you 10 seconds or one type of the thug that means the absolute will to me and more importantly it may change the world 125 00:07:56.800 --> 00:08:01.440 I think one of the one of the things that's difficult for entrepreneurs is to know when to make the ask right 126 00:08:01.440 --> 00:08:06.720 So it's like okay, well if I'm either going all in or all out well, then how do I know when to do which right 127 00:08:07.440 --> 00:08:14.240 And I would say that most times I have been better served in my life by holding back my ask 128 00:08:15.040 --> 00:08:22.720 And what I mean by that and this is like a super life hacks if for those viewers who are who are perseverant and focused on what I'm saying right now then take this in 129 00:08:23.920 --> 00:08:30.640 If you get to a point of goodwill if you keep giving and keep giving and keep giving you don't need to ask ever 130 00:08:31.360 --> 00:08:32.880 You will just get 131 00:08:32.960 --> 00:08:36.720 So there's that there's the commonly you know told like you know 132 00:08:37.200 --> 00:08:40.080 jab jab jab right hook right give give give ask right 133 00:08:41.040 --> 00:08:45.520 But I will I would postulate that there is another one that is even more powerful 134 00:08:45.840 --> 00:08:52.320 Which is give give give give give give give give give give give give give give give give give give give get 135 00:08:52.720 --> 00:08:57.840 Right is that people will just start handing things to you because humans are reciprocal in nature 136 00:08:58.240 --> 00:09:03.040 They believe that if they are getting something at a certain point they must reciprocate somehow 137 00:09:03.040 --> 00:09:08.640 Which is why the spammers who copy my name on this channel do so well with my channel because I don't ask for anything 138 00:09:09.680 --> 00:09:11.440 From from mousy nation. So by the way 139 00:09:12.240 --> 00:09:19.600 Just another disclaimer. I will not DM you or puts you on WhatsApp and ask you for cab fare or ask you to buy something 140 00:09:19.600 --> 00:09:21.600 Everything that I have is free here 141 00:09:22.080 --> 00:09:24.400 So just FYI just as a reminder to everybody 142 00:09:25.040 --> 00:09:26.000 um 143 00:09:26.000 --> 00:09:27.200 Anyhow 144 00:09:28.080 --> 00:09:32.720 And a lot of the best things that I've had happened in my life have come from goodwill 145 00:09:33.120 --> 00:09:36.800 And so I think the biggest difference between big business owners and small business owners 146 00:09:37.440 --> 00:09:43.120 Is that they do not understand and apply the concept of goodwill right and I'll do an entire thing on goodwill next time 147 00:09:43.120 --> 00:09:45.120 Because it's a deep topic that I love talking about 148 00:09:46.160 --> 00:09:51.360 But right now in your business you have the opportunity to provide things for your audience 149 00:09:51.840 --> 00:09:57.920 And if you can continue to provide them and have the patience to wait for the ask you can actually make significantly more money 150 00:09:58.320 --> 00:10:04.320 All right, and so the thing is is if you're going to make the ask which means if you're going to withdraw from your 151 00:10:04.720 --> 00:10:08.960 Your relational capital right the goodwill that you have in your audience if you're going to make the withdrawal 152 00:10:09.440 --> 00:10:15.680 Then ask and ask hard and mean it. It's not the time to make it a nickel here a nickel there a nickel there 153 00:10:15.760 --> 00:10:16.320 right 154 00:10:16.320 --> 00:10:22.480 It's so much better to just keep investing keep over delivering and then when you ask make it known that you are asking 155 00:10:23.680 --> 00:10:25.680 And that is one of the biggest lessons that I have learned 156 00:10:26.160 --> 00:10:30.240 um over time and business for me is that it is so much better to give 157 00:10:30.800 --> 00:10:34.800 And keep giving and keep giving and oftentimes you will get and if you pitch 158 00:10:35.280 --> 00:10:39.360 Which you if like the idea is to ideally never even have to because you should be getting so much 159 00:10:39.360 --> 00:10:44.160 But if you if you must pitch then pitch like you mean it right and don't have acid 160 00:10:44.480 --> 00:10:47.360 So anyways, that was a story of my bombing. I hope you 161 00:10:48.560 --> 00:10:50.560 Found some humor in that or my humiliation