WEBVTT 1 00:00:00.000 --> 00:00:01.820 Mosination, welcome back. 2 00:00:01.820 --> 00:00:03.960 This is a podcast that we did with Vince Del Monte. 3 00:00:03.960 --> 00:00:06.720 We talked about three major topics in this first part. 4 00:00:06.720 --> 00:00:09.240 The first was about how to segment for cohorts 5 00:00:09.240 --> 00:00:11.000 to figure out which customers are most valuable to use. 6 00:00:11.000 --> 00:00:12.960 You can also make more money by doing less work. 7 00:00:12.960 --> 00:00:13.800 Highly recommend. 8 00:00:13.800 --> 00:00:16.120 How to tactically employ scarcity in business 9 00:00:16.120 --> 00:00:17.560 where you sell customers every single day 10 00:00:17.560 --> 00:00:18.840 and some of the tactics that we have seen 11 00:00:18.840 --> 00:00:20.320 that really, really drive conversions 12 00:00:20.320 --> 00:00:21.400 and decrease action thresholds 13 00:00:21.400 --> 00:00:24.080 so that people want to buy the moment you give in the offer. 14 00:00:24.080 --> 00:00:27.120 And how to stack guarantees in a way that reverses 15 00:00:27.120 --> 00:00:29.000 all the risks such that they would be stupid 16 00:00:29.000 --> 00:00:31.040 to say, yet, to your offer. 17 00:00:31.040 --> 00:00:32.040 Enjoy. 18 00:00:32.040 --> 00:00:39.880 Welcome to the game where we talk about how to get more customers, 19 00:00:39.880 --> 00:00:41.880 how to make more customers, how to keep them longer 20 00:00:41.880 --> 00:00:43.680 and the many failures and lessons we have learned 21 00:00:43.680 --> 00:00:44.520 along the way. 22 00:00:44.520 --> 00:00:47.080 I hope you enjoy and subscribe. 23 00:00:47.080 --> 00:00:49.680 I look for you just to kind of touch on the cohort method. 24 00:00:49.680 --> 00:00:52.920 I found that to be one of our most effective strategies. 25 00:00:52.920 --> 00:00:55.480 I know precision nutrition did it for a while too. 26 00:00:55.520 --> 00:00:57.280 I know you just have been Pekulski 27 00:00:57.280 --> 00:00:58.840 or I think you guys are doing something together, 28 00:00:58.840 --> 00:01:01.680 but that's what we did with our herfertiary max program, 29 00:01:01.680 --> 00:01:04.000 opened it, closed it, opened it, closed it. 30 00:01:04.000 --> 00:01:07.360 And we just have these massive surges every six months 31 00:01:07.360 --> 00:01:10.600 in new customers and we lived off that for a long time. 32 00:01:10.600 --> 00:01:13.560 I'm applying it now to even how we enroll members 33 00:01:13.560 --> 00:01:16.240 down to how many we have available for the day 34 00:01:16.240 --> 00:01:18.080 based on how many we can enroll per week. 35 00:01:18.080 --> 00:01:21.320 Maybe just expand on what this cohort method looks like 36 00:01:21.320 --> 00:01:22.800 because I feel it's very effective 37 00:01:22.800 --> 00:01:24.720 to probably a lot of people listening right now 38 00:01:24.720 --> 00:01:26.720 who are doing high ticket coaching. 39 00:01:26.720 --> 00:01:29.600 So for everyone, after you create the ultimate high value 40 00:01:29.600 --> 00:01:30.440 deliverable, right? 41 00:01:30.440 --> 00:01:32.800 So we just, we just expounded on one problem. 42 00:01:32.800 --> 00:01:34.080 The next problem is gonna be cooking the food. 43 00:01:34.080 --> 00:01:35.480 The next problem is gonna be meal prepping the food 44 00:01:35.480 --> 00:01:36.320 and how do you store it? 45 00:01:36.320 --> 00:01:37.960 The next problem after that's gonna be eating it 46 00:01:37.960 --> 00:01:39.880 and learning how to eat out with friends 47 00:01:39.880 --> 00:01:41.120 and not mess up, right? 48 00:01:41.120 --> 00:01:42.040 The next problem after that is 49 00:01:42.040 --> 00:01:43.320 worrying that you're gonna hurt yourself. 50 00:01:43.320 --> 00:01:44.960 Like there's all these problems that we could solve 51 00:01:44.960 --> 00:01:47.720 and if that sounds tiring to you, that's okay. 52 00:01:47.720 --> 00:01:50.520 The point is is that if we solve more problems, 53 00:01:50.520 --> 00:01:52.160 we will provide more value. 54 00:01:52.160 --> 00:01:53.920 That's it, like entrepreneurs must solve problems. 55 00:01:53.920 --> 00:01:54.760 That's what we're doing. 56 00:01:54.760 --> 00:01:56.080 And so we wanna take as many of these things 57 00:01:56.080 --> 00:01:58.960 and make it so seamless and so lubricated of a process. 58 00:01:58.960 --> 00:02:02.280 And as an aside here, what do you think is more valuable, right? 59 00:02:02.280 --> 00:02:05.840 If I say you can just go to the grocery store and text me 60 00:02:05.840 --> 00:02:08.440 or I mean this entire training 61 00:02:08.440 --> 00:02:11.200 that has a hundred videos in it that you can watch 62 00:02:11.200 --> 00:02:13.240 and it's a full training on bargain shopping. 63 00:02:13.240 --> 00:02:14.920 Obviously the first one, right? 64 00:02:14.920 --> 00:02:17.680 Because the actual thing in and of itself, 65 00:02:17.680 --> 00:02:19.640 the time delay and the effort and sacrifice 66 00:02:19.640 --> 00:02:22.360 associated with the actual deliverable of the bonus 67 00:02:22.360 --> 00:02:24.080 right then delivering is so high, 68 00:02:24.080 --> 00:02:25.760 it's not worth the dream outcome. 69 00:02:25.760 --> 00:02:28.680 People don't wanna, well obviously if I spend a hundred hours, 70 00:02:28.680 --> 00:02:30.280 of course I'll be better at bargain shopping. 71 00:02:30.280 --> 00:02:32.600 Can you give me the shortcut, right? 72 00:02:32.600 --> 00:02:34.680 And so with each iteration of our products, 73 00:02:34.680 --> 00:02:37.000 we tend to make them shorter. 74 00:02:37.000 --> 00:02:38.320 Everything gets shorter. 75 00:02:38.320 --> 00:02:40.200 This book was the fourth version of this book 76 00:02:40.200 --> 00:02:41.920 when I, like this is the fourth version, 77 00:02:41.920 --> 00:02:45.320 full rewrite that I made and every book got shorter 78 00:02:45.320 --> 00:02:47.480 was less, not more, right? 79 00:02:47.480 --> 00:02:50.480 So a lot of people, like time is still the most valuable thing. 80 00:02:50.480 --> 00:02:52.400 So once we have the ultimate, 81 00:02:52.400 --> 00:02:54.920 the core offer, the valuable deliverable, 82 00:02:54.920 --> 00:02:57.600 the other things that we're doing are used to enhance 83 00:02:57.600 --> 00:02:59.600 the desirability of that core offer. 84 00:02:59.600 --> 00:03:02.280 So that's gonna be reversing risk through guarantees. 85 00:03:02.280 --> 00:03:03.280 It's going at which I talk about 86 00:03:03.280 --> 00:03:05.680 four different categories of guarantees that you can give. 87 00:03:05.680 --> 00:03:07.320 The second is gonna be adding bonuses 88 00:03:07.320 --> 00:03:10.640 that are gonna solve minor perceived problems 89 00:03:10.640 --> 00:03:12.760 that will overcome obstacles in the sale. 90 00:03:12.760 --> 00:03:14.000 You don't need to present all these things 91 00:03:14.000 --> 00:03:14.840 when you're selling someone. 92 00:03:14.840 --> 00:03:17.880 You present the bonus when the obstacle occurs 93 00:03:17.880 --> 00:03:20.000 and then you ask again, right? 94 00:03:20.800 --> 00:03:24.320 The third is scarcity, which is the function of quantity. 95 00:03:24.320 --> 00:03:26.440 People say scarcity and urgency is the same thing. 96 00:03:26.440 --> 00:03:27.880 Scarcity is a function of quantity. 97 00:03:27.880 --> 00:03:29.640 How many units do we have? 98 00:03:29.640 --> 00:03:31.760 And then urgency is a function of time. 99 00:03:31.760 --> 00:03:32.960 What do I need to buy? 100 00:03:32.960 --> 00:03:35.040 If you have to do XYZ by the state, 101 00:03:35.040 --> 00:03:37.360 there's urgency and there might not be any limit, right? 102 00:03:37.360 --> 00:03:39.360 I could say, hey, I only have five of these 103 00:03:39.360 --> 00:03:41.840 and I have no urgency, but there's only five, right? 104 00:03:41.840 --> 00:03:43.520 And as soon as they're sold out, they're done, right? 105 00:03:43.520 --> 00:03:44.760 That's a limited edition. 106 00:03:44.760 --> 00:03:46.920 Now, if you did both of those things, which is, 107 00:03:47.000 --> 00:03:50.360 I only have five and I'm closing it this Friday, 108 00:03:50.360 --> 00:03:52.360 then you have both of those things layered on top. 109 00:03:52.360 --> 00:03:54.800 And so within the book, we break down each of those things 110 00:03:54.800 --> 00:03:56.760 and within urgency and scarcity, 111 00:03:56.760 --> 00:03:57.880 a lot of people are like, well, how do I do that 112 00:03:57.880 --> 00:03:58.920 without sounding skinny? 113 00:03:58.920 --> 00:04:01.160 There's tons of what you do without sounding skinny. 114 00:04:01.160 --> 00:04:02.440 Because for everyone who's listening, 115 00:04:02.440 --> 00:04:03.880 because I'm assuming most of people are listening 116 00:04:03.880 --> 00:04:06.120 to this are coaches of some sort, right? 117 00:04:06.120 --> 00:04:08.200 Then if I were to say, hey, I'm gonna send you 118 00:04:08.200 --> 00:04:09.600 a thousand clients tomorrow. 119 00:04:10.560 --> 00:04:11.600 You handle them? 120 00:04:11.600 --> 00:04:12.600 Of course not, right? 121 00:04:12.600 --> 00:04:13.440 Probably not. 122 00:04:13.440 --> 00:04:15.400 It's unlikely that you can handle it for most people, 123 00:04:15.400 --> 00:04:17.080 especially if you have an accountability-based business 124 00:04:17.080 --> 00:04:19.400 or one-on-one component, right? 125 00:04:19.400 --> 00:04:21.760 So if you can't even handle an unlimited amount 126 00:04:21.760 --> 00:04:24.040 of customers, why are we pretending like we can't? 127 00:04:24.040 --> 00:04:27.080 So we should be at least advertising what our limit is. 128 00:04:27.080 --> 00:04:29.640 So you could probably think about 129 00:04:29.640 --> 00:04:30.640 what your realistic limit is. 130 00:04:30.640 --> 00:04:32.920 Your realistic limit might be like five new clients a week, 131 00:04:32.920 --> 00:04:33.760 right? 132 00:04:33.760 --> 00:04:35.200 And so if you know your limit is five new clients a week, 133 00:04:35.200 --> 00:04:37.640 just actually cap it and say, we only take five new clients 134 00:04:37.640 --> 00:04:38.480 a week. 135 00:04:38.480 --> 00:04:40.040 And now when you're on the phone with someone, 136 00:04:40.040 --> 00:04:42.840 you can say, hey, I have two clients already this week, 137 00:04:42.840 --> 00:04:44.720 we only have three more spots this week, right? 138 00:04:44.720 --> 00:04:47.040 And it's completely doing because you can't handle more 139 00:04:47.040 --> 00:04:48.920 anyways, and you already decided that for your own 140 00:04:48.920 --> 00:04:50.800 operational drag within your business, 141 00:04:50.800 --> 00:04:52.280 because that's what your operations can handle. 142 00:04:52.280 --> 00:04:53.840 Now later you can revisit that and bump it 143 00:04:53.840 --> 00:04:56.320 once you increase your own, whatever, right? 144 00:04:56.320 --> 00:04:58.560 And so that is the way that you can add scarcity 145 00:04:58.560 --> 00:05:02.000 legitimately without being unethical. 146 00:05:02.000 --> 00:05:05.840 And so the three that I like to use here is number one, 147 00:05:05.840 --> 00:05:07.240 you can have a total business cap. 148 00:05:07.240 --> 00:05:09.760 And this works really well for high-take it, right? 149 00:05:09.760 --> 00:05:11.840 So if you're saying, hey, I'm only gonna take 150 00:05:11.840 --> 00:05:13.040 a hundred total customers. 151 00:05:13.040 --> 00:05:15.600 And once my roster's at a hundred, I'm capping it, right? 152 00:05:15.600 --> 00:05:16.920 You have implied scarcity. 153 00:05:16.920 --> 00:05:19.440 There's also social proof because if you're full 154 00:05:19.440 --> 00:05:21.680 then people already know that other people value this too. 155 00:05:21.680 --> 00:05:23.080 You can also tell those people if they leave 156 00:05:23.080 --> 00:05:25.320 they can never come back that also creates 157 00:05:25.320 --> 00:05:26.800 a fear of missing out, right? 158 00:05:26.800 --> 00:05:28.800 And so all these things drive stick, drive lifetime value 159 00:05:28.800 --> 00:05:31.160 and decrease the purchasing threshold. 160 00:05:31.160 --> 00:05:32.920 People will buy more readily because they don't want 161 00:05:32.920 --> 00:05:33.680 to miss out. 162 00:05:33.680 --> 00:05:36.080 It's much stronger to get people on FOMO 163 00:05:36.080 --> 00:05:38.000 than it is on desire for gain. 164 00:05:38.000 --> 00:05:40.280 All right, people always like to hoard scarce resources. 165 00:05:40.280 --> 00:05:41.720 And if you're a slot, is the scarce resource 166 00:05:41.720 --> 00:05:43.960 which is our goal in positioning it that way, 167 00:05:43.960 --> 00:05:46.520 then you get more people buy at higher prices, right? 168 00:05:46.520 --> 00:05:49.240 Yeah, so number one is you can have a total business cap. 169 00:05:49.240 --> 00:05:50.960 And over time, you can, every quarter, 170 00:05:50.960 --> 00:05:52.640 you can bump it if you want to and create a waiting list 171 00:05:52.640 --> 00:05:53.920 that I guarantee you saw them out. 172 00:05:53.920 --> 00:05:57.160 Like, I mean, you just did it with the hypertrophy thing, right? 173 00:05:57.160 --> 00:05:58.640 Like you had like this is it 174 00:05:58.640 --> 00:06:00.880 and then we open the doors and we close them, right? 175 00:06:00.880 --> 00:06:02.080 So that's number one. 176 00:06:02.080 --> 00:06:04.160 Number two is a growth rate cap. 177 00:06:04.160 --> 00:06:06.120 So this is a cap on rate. 178 00:06:06.120 --> 00:06:07.880 It's a cap on speed, right? 179 00:06:07.880 --> 00:06:09.240 Which is what I was referencing earlier, 180 00:06:09.240 --> 00:06:11.680 which is instead of having a cap on the total business, 181 00:06:11.720 --> 00:06:13.840 we have a cap on how many we can take per week, right? 182 00:06:13.840 --> 00:06:16.080 Or per month, or per whatever, right? 183 00:06:16.080 --> 00:06:18.400 That's the second way you can add in the scarcity. 184 00:06:18.400 --> 00:06:20.360 The third way that you can add the scarcity in 185 00:06:20.360 --> 00:06:22.560 is having cohorts in and of themselves. 186 00:06:22.560 --> 00:06:24.200 So you can make the argument that the five a week 187 00:06:24.200 --> 00:06:26.400 is a cohort, but most people think about it that way. 188 00:06:26.400 --> 00:06:29.920 So it's more like we're gonna do a class of 40 people 189 00:06:29.920 --> 00:06:31.920 and we're gonna start them all at the same time. 190 00:06:31.920 --> 00:06:34.080 And it actually tends to make operations easier too, 191 00:06:34.080 --> 00:06:35.640 because you can take them all through the same experience. 192 00:06:35.640 --> 00:06:37.200 It tends to be easier in that nature. 193 00:06:37.200 --> 00:06:39.880 And then you'll see your sales ramp up, right? 194 00:06:39.880 --> 00:06:42.800 As the deadline starts approaching, right? 195 00:06:42.800 --> 00:06:45.760 And so those are the three ways that you can add, 196 00:06:45.760 --> 00:06:47.360 that you can ethically add scarcity 197 00:06:47.360 --> 00:06:51.240 into a business that you're not planning on capping, right? 198 00:06:51.240 --> 00:06:53.240 Besides the first one, the second two that I mentioned 199 00:06:53.240 --> 00:06:54.720 are things that you don't need to cap, 200 00:06:54.720 --> 00:06:55.920 you can still have scarcity, right? 201 00:06:55.920 --> 00:06:56.760 Yeah. 202 00:06:56.760 --> 00:06:59.120 Alex, we just launched a new YouTube show called 203 00:06:59.120 --> 00:07:03.720 on Roll to 275, and it's our journey to 275 members 204 00:07:03.720 --> 00:07:05.440 in the seven figure mastermind. 205 00:07:05.440 --> 00:07:06.840 And I'm thinking to myself, 206 00:07:06.840 --> 00:07:08.480 I got the best results in fitness 207 00:07:08.480 --> 00:07:11.160 when I documented my journey and post photos. 208 00:07:11.160 --> 00:07:13.240 So I'm like, why don't I do that in my business? 209 00:07:13.240 --> 00:07:16.640 And I was always scared to like put out how we're actually doing. 210 00:07:16.640 --> 00:07:18.680 And like, why would I be scared of that? 211 00:07:18.680 --> 00:07:20.320 That's just extra accountability for me. 212 00:07:20.320 --> 00:07:22.440 That's the exact reason that we'll make. 213 00:07:22.440 --> 00:07:24.120 That will make us even more successful. 214 00:07:24.120 --> 00:07:26.960 So, you know, we're using authentic marketing, 215 00:07:26.960 --> 00:07:29.920 we can literally bring on 25 a month that is our capacity. 216 00:07:29.920 --> 00:07:32.320 So each week we are literally saying, 217 00:07:32.320 --> 00:07:33.800 this is how many spots we have, 218 00:07:33.800 --> 00:07:36.160 or you do have to get on the waiting list for next week. 219 00:07:36.160 --> 00:07:38.400 And it's just a simple message. 220 00:07:38.400 --> 00:07:40.200 It's just, it's a truth. 221 00:07:40.200 --> 00:07:41.320 So I love this. 222 00:07:41.320 --> 00:07:42.320 That's the truth. 223 00:07:42.320 --> 00:07:43.800 I'm like, if I said, you know, 224 00:07:43.800 --> 00:07:45.520 some of your clients 100 customers more, 225 00:07:45.520 --> 00:07:46.360 they can't take them. 226 00:07:46.360 --> 00:07:48.120 Like, then why are we just telling people we can't hit? 227 00:07:48.120 --> 00:07:50.280 Like, it's just, we're just expressing something 228 00:07:50.280 --> 00:07:51.600 that was already there. 229 00:07:51.600 --> 00:07:54.160 So the next one is urgency, right? 230 00:07:54.160 --> 00:07:58.600 And so in urgency, there's cohort-based rolling urgency, 231 00:07:58.600 --> 00:08:02.120 right, which is you can say that if we're, 232 00:08:02.120 --> 00:08:04.680 and this is how we like to do it, we do this a lot, right? 233 00:08:04.680 --> 00:08:07.880 Which is, we always start people on Mondays. 234 00:08:07.880 --> 00:08:09.120 And so if you sign up today, 235 00:08:09.120 --> 00:08:10.160 you can start in the next group. 236 00:08:10.160 --> 00:08:12.520 But if you don't, then you have to wait until the next one. 237 00:08:12.520 --> 00:08:14.080 It's a different way of saying the same thing, 238 00:08:14.080 --> 00:08:16.320 because now we're not saying it's based on a limit, 239 00:08:16.320 --> 00:08:18.160 we're saying it's based on time. 240 00:08:18.160 --> 00:08:19.680 Like, you don't want to sign up by Thursday, 241 00:08:19.680 --> 00:08:20.840 because otherwise you're going to miss the cutoff 242 00:08:20.840 --> 00:08:22.880 for starting on Monday, right? 243 00:08:22.880 --> 00:08:24.800 And so by doing that, now, obviously next week, 244 00:08:24.800 --> 00:08:26.120 you can sign up, but then they're going to have to wait. 245 00:08:26.120 --> 00:08:28.400 And so people, time to lay, they don't want to wait. 246 00:08:28.400 --> 00:08:30.000 And so they would, it's going to do it either way, 247 00:08:30.000 --> 00:08:30.840 and we just want to start now, 248 00:08:30.840 --> 00:08:32.640 so you can start getting the benefits, right? 249 00:08:33.080 --> 00:08:35.920 Yeah, so we came up with, I was up for my walk, 250 00:08:35.920 --> 00:08:37.200 listening to your podcast, 251 00:08:37.200 --> 00:08:39.880 and just trying to think about how to streamline the operations. 252 00:08:39.880 --> 00:08:41.200 And I will talk about that a bit later, 253 00:08:41.200 --> 00:08:43.480 but I'm like, so our coaches can have, 254 00:08:43.480 --> 00:08:46.920 our coaches have capacity for 40 clients per coach. 255 00:08:46.920 --> 00:08:47.760 So I'm like, all right, 256 00:08:47.760 --> 00:08:51.080 so right now our capacity is 25 members a month, 257 00:08:51.080 --> 00:08:54.640 but if we can continue to tighten up our delivery, 258 00:08:54.640 --> 00:08:56.280 we can onboard 40 members a month. 259 00:08:56.280 --> 00:08:59.040 That makes not only just onboarding 40 a month simpler, 260 00:08:59.040 --> 00:09:00.200 but it's not every month, 261 00:09:00.200 --> 00:09:02.000 they know how to bring on one new coach, 262 00:09:02.000 --> 00:09:04.200 one new coach, and I can systematize that now 263 00:09:04.200 --> 00:09:07.480 with when we start promoting process of onboarding 264 00:09:07.480 --> 00:09:10.440 and then boom, so it just makes everything easier 265 00:09:10.440 --> 00:09:13.720 when you're operating from a clear structure. 266 00:09:13.720 --> 00:09:15.560 Totally, 100%. 267 00:09:15.560 --> 00:09:18.160 The second of the urgency is rolling seasonal urgency. 268 00:09:18.160 --> 00:09:21.080 This is especially valuable for fitness space, right? 269 00:09:21.080 --> 00:09:25.000 So you can run a promotion of some sort, right? 270 00:09:25.000 --> 00:09:26.840 It could be new years, it could be Valentine's Day, 271 00:09:26.840 --> 00:09:27.880 it could be sexy by springs, 272 00:09:27.880 --> 00:09:29.120 that's the first thing once a year, right? 273 00:09:29.120 --> 00:09:32.880 It could be love, special for April, right? 274 00:09:32.880 --> 00:09:33.720 It doesn't matter. 275 00:09:33.720 --> 00:09:36.120 The point is that you can make up holiday hangover, 276 00:09:36.120 --> 00:09:37.920 lean by Halloween, big booty bouquet, 277 00:09:37.920 --> 00:09:39.520 it doesn't really matter with the thing, it's right? 278 00:09:39.520 --> 00:09:42.200 But as soon as you have a promotion, 279 00:09:42.200 --> 00:09:45.840 you can use the arbitrary end date as the end of the promotion. 280 00:09:45.840 --> 00:09:48.280 Now that end of promotion, right? 281 00:09:48.280 --> 00:09:51.200 You might change the flavor of whatever the promotion is, 282 00:09:51.200 --> 00:09:52.720 it may be identical in nature, 283 00:09:52.720 --> 00:09:53.560 but it has a different name 284 00:09:53.560 --> 00:09:55.400 because now it's the Valentine's Day promotion. 285 00:09:55.400 --> 00:09:58.040 And so you can have urgency to end, 286 00:09:58.040 --> 00:10:00.080 to book end your months, which I highly recommend, 287 00:10:00.080 --> 00:10:02.320 which is why every single gigantic fitness chain 288 00:10:02.320 --> 00:10:04.520 that's private equity owned does this, 289 00:10:04.520 --> 00:10:06.120 they always have end of month, you know, 290 00:10:06.120 --> 00:10:07.760 sales and specials so they can hit their goal, 291 00:10:07.760 --> 00:10:08.840 and they use last week of the month, 292 00:10:08.840 --> 00:10:10.160 they always do their most sales, 293 00:10:10.160 --> 00:10:11.320 deadline strike decisions, right? 294 00:10:11.320 --> 00:10:12.920 That's one of my thoughts, right? 295 00:10:12.920 --> 00:10:13.880 So deadline strike decisions. 296 00:10:13.880 --> 00:10:18.320 So if we do this and we can say that the promotion is ending 297 00:10:18.320 --> 00:10:20.280 on the phone or in person, we can say that, 298 00:10:20.280 --> 00:10:21.600 and it's completely true. 299 00:10:21.600 --> 00:10:23.320 Now there's gonna be another promotion, 300 00:10:23.320 --> 00:10:25.080 but this promotion is ending. 301 00:10:25.080 --> 00:10:27.440 And so it's real genuine urgency 302 00:10:28.200 --> 00:10:29.720 that we are introducing in the sales process 303 00:10:29.720 --> 00:10:31.360 to drive more decisions. 304 00:10:31.360 --> 00:10:34.800 Let me hear you touch on scarcity urgency for resigns. 305 00:10:34.800 --> 00:10:39.400 When people are coming up to their 16 week first phase, 306 00:10:39.400 --> 00:10:42.040 first 12 weeks, first 12 months of their program, 307 00:10:42.040 --> 00:10:44.920 that's a question our members are asked a lot of, 308 00:10:44.920 --> 00:10:47.120 how to maximize, maybe even shift, 309 00:10:47.120 --> 00:10:48.920 that might even be how your business is structured, 310 00:10:48.920 --> 00:10:53.560 but how are we gonna maximize people renewing, upgrading? 311 00:10:53.560 --> 00:10:56.360 So first things first, never wanna resign people 312 00:10:56.360 --> 00:10:58.840 at the end of their country, that's like 101. 313 00:10:58.840 --> 00:11:01.120 You resign people halfway to two thirds of the way through, 314 00:11:01.120 --> 00:11:02.240 you never wait to the end, 315 00:11:02.240 --> 00:11:04.400 because you want them to already be in 316 00:11:04.400 --> 00:11:06.360 and then not imagine it ending. 317 00:11:06.360 --> 00:11:08.240 If you're doing resigns at the end, 318 00:11:08.240 --> 00:11:09.480 they have already ended it, 319 00:11:09.480 --> 00:11:10.920 and now you have to resell them, 320 00:11:10.920 --> 00:11:12.040 whereas if they're in the middle 321 00:11:12.040 --> 00:11:13.520 or half to two thirds of the way through, 322 00:11:13.520 --> 00:11:15.600 they're still in the game, it's still an open loop, 323 00:11:15.600 --> 00:11:17.560 and you just extend the opening of the loop 324 00:11:17.560 --> 00:11:20.480 rather than loop closes, now reopen it. 325 00:11:20.480 --> 00:11:21.760 So that's 101. 326 00:11:21.760 --> 00:11:24.240 I've never done resigns actually near the end 327 00:11:24.240 --> 00:11:26.160 of the contract time, right? 328 00:11:26.160 --> 00:11:27.000 Number one. 329 00:11:27.000 --> 00:11:28.160 Alex, is that just to, hey, 330 00:11:28.160 --> 00:11:30.400 is it starting to plan anticipation 331 00:11:30.400 --> 00:11:32.480 for second phase, third phase, fourth phase? 332 00:11:32.480 --> 00:11:34.400 It's just continuing on letting you know, 333 00:11:34.400 --> 00:11:36.480 this is where you're out of the customer journey 334 00:11:36.480 --> 00:11:38.840 based on this being the fourth or journey. 335 00:11:38.840 --> 00:11:39.880 Yeah, this is where you're at, 336 00:11:39.880 --> 00:11:40.800 this is what we've accomplished, 337 00:11:40.800 --> 00:11:41.960 this is what we plan to do. 338 00:11:41.960 --> 00:11:43.400 Let's be real, you wanna do more, 339 00:11:43.400 --> 00:11:44.800 because everybody wants to do more. 340 00:11:44.800 --> 00:11:46.440 It doesn't matter what business you're in, 341 00:11:46.440 --> 00:11:49.080 people want more of whatever it is that you've delivered. 342 00:11:49.080 --> 00:11:53.040 And then you add bonuses, scarcity, urgency, 343 00:11:53.040 --> 00:11:55.040 and you can add scarcity to the bonuses. 344 00:11:55.040 --> 00:11:57.520 You can add urgency to the bonuses, 345 00:11:57.520 --> 00:11:58.440 to get them to resign. 346 00:11:58.440 --> 00:12:00.280 You can add urgency around the deal they'll get 347 00:12:00.280 --> 00:12:03.080 if they sign early, right, rather than waiting. 348 00:12:03.080 --> 00:12:04.920 So all of those things we can introduce, 349 00:12:04.920 --> 00:12:07.360 and then in terms of a tactical, super tactical, 350 00:12:07.360 --> 00:12:09.000 if they like the coach they have, 351 00:12:09.000 --> 00:12:11.000 if I'm with coach Vince, and Vince is booked up, 352 00:12:11.000 --> 00:12:12.360 I'll be like, Vince is a waiting list. 353 00:12:12.360 --> 00:12:13.560 If you don't resign now, 354 00:12:13.560 --> 00:12:14.920 I can't be by the end of the contract 355 00:12:14.920 --> 00:12:15.920 that you're gonna get. 356 00:12:15.920 --> 00:12:18.040 Oh wow, that's freaking brilliant. 357 00:12:18.040 --> 00:12:19.720 I just wanna tell you, thank you. 358 00:12:19.720 --> 00:12:21.760 That is genius. 359 00:12:21.760 --> 00:12:23.720 Never even thought of doing renewals 360 00:12:23.720 --> 00:12:25.440 way earlier in the process, that's genius, 361 00:12:25.440 --> 00:12:28.680 but it makes sense because it's one their emotion. 362 00:12:28.680 --> 00:12:32.320 And yeah, that's, it's that's just beautiful. 363 00:12:32.320 --> 00:12:35.600 So, and then we can make the most sorts of offers. 364 00:12:35.600 --> 00:12:37.560 We've done this before, rather than changing stuff. 365 00:12:37.560 --> 00:12:39.560 It's crazy, it's nuts. 366 00:12:39.560 --> 00:12:41.120 I'm the guy saying, oh my gosh, 367 00:12:41.120 --> 00:12:42.480 how come I didn't think of that? 368 00:12:42.480 --> 00:12:43.800 But it's brilliant. 369 00:12:43.800 --> 00:12:45.520 So with, let's just sit on that, 370 00:12:45.520 --> 00:12:46.640 because I see some of our members 371 00:12:46.640 --> 00:12:48.800 asking questions about that. 372 00:12:48.800 --> 00:12:51.360 I think a lot of people, and I know you're really hard 373 00:12:51.360 --> 00:12:53.240 on that screwing around with the prices, 374 00:12:53.240 --> 00:12:55.680 but how do you do these resigns 375 00:12:55.680 --> 00:12:57.560 upsells without these decrediting? 376 00:12:57.560 --> 00:12:59.600 That's a very hard core about my pricing. 377 00:12:59.600 --> 00:13:01.200 Pricing is not negotiable. 378 00:13:01.200 --> 00:13:03.600 The pricing has decided upon ahead of time. 379 00:13:03.600 --> 00:13:05.080 But if I'm going to give a discount, 380 00:13:05.080 --> 00:13:06.440 it is already been predetermined. 381 00:13:07.400 --> 00:13:08.240 There's a difference. 382 00:13:08.240 --> 00:13:09.480 We will absolutely give discounts 383 00:13:09.480 --> 00:13:11.240 for some of the resign, 384 00:13:11.240 --> 00:13:12.720 or give some sort of incentive to sign, 385 00:13:12.720 --> 00:13:14.720 early signing bonus, that kind of thing, right? 386 00:13:14.720 --> 00:13:17.920 We'll do the incentive, but it's not that it's negotiable. 387 00:13:17.920 --> 00:13:20.520 It's this is what the early signing incentive is, 388 00:13:20.520 --> 00:13:21.520 do you want to do it? 389 00:13:21.520 --> 00:13:22.680 Or do you want to pay more later 390 00:13:22.680 --> 00:13:24.440 and maybe not get the coach you are? 391 00:13:26.280 --> 00:13:27.440 Real quick, guys, if you can think about 392 00:13:27.440 --> 00:13:29.000 how you found this podcast, 393 00:13:29.000 --> 00:13:31.520 somebody probably tweeted it, told you about it, 394 00:13:31.520 --> 00:13:33.760 shared it on Instagram, or something like that. 395 00:13:33.760 --> 00:13:36.200 The only way this grows is through word of mouth. 396 00:13:36.200 --> 00:13:38.480 And so I don't run ads, I don't do sponsorships, 397 00:13:38.480 --> 00:13:39.480 I don't sell anything. 398 00:13:39.480 --> 00:13:41.840 My only ask is that you continue to pay it forward, 399 00:13:41.840 --> 00:13:43.600 do you ever showed you or however you found out 400 00:13:43.600 --> 00:13:45.760 about this podcast that you do the exact same thing? 401 00:13:45.760 --> 00:13:48.280 So if it was a review, if it was a post, 402 00:13:48.280 --> 00:13:49.640 if you do that, it would mean the world to me, 403 00:13:49.640 --> 00:13:50.760 and you'll throw some good karma out there 404 00:13:50.760 --> 00:13:51.880 for another entrepreneur. 405 00:13:53.800 --> 00:13:54.640 Gotcha. 406 00:13:54.640 --> 00:13:56.400 So it's just, you're controlling the narrative. 407 00:13:56.400 --> 00:13:57.320 I understand. 408 00:13:57.320 --> 00:13:59.360 So it's like, you sign up today, right? 409 00:13:59.360 --> 00:14:01.560 We have this exclusive thing that we only give 410 00:14:01.560 --> 00:14:03.160 to people who do early bird, right? 411 00:14:03.160 --> 00:14:06.720 You're going to get this urgency-based pricing discount, right? 412 00:14:06.720 --> 00:14:08.960 And on top of that, I'm going to credit you an extra 413 00:14:08.960 --> 00:14:10.800 two months on the back end of your contract 414 00:14:10.800 --> 00:14:12.960 for free for taking the take the promotion, 415 00:14:12.960 --> 00:14:15.160 which is how I give you your 20% off. 416 00:14:15.160 --> 00:14:16.520 I'm not even giving you discount. 417 00:14:16.520 --> 00:14:18.040 I said two months are tacked on the end, 418 00:14:18.040 --> 00:14:20.040 and if you see all the payments and that's contingent 419 00:14:20.040 --> 00:14:21.400 on you doing all your payments on time, 420 00:14:21.400 --> 00:14:23.320 if you have any contracting issues 421 00:14:23.320 --> 00:14:25.800 or any payment things, the bonus is gone. 422 00:14:25.800 --> 00:14:26.640 I love it. 423 00:14:26.640 --> 00:14:27.600 That's brilliant. 424 00:14:27.600 --> 00:14:28.840 We have different levels. 425 00:14:28.840 --> 00:14:31.040 Other coaches here have different levels too. 426 00:14:31.040 --> 00:14:34.320 What are some techniques for ascending people 427 00:14:34.320 --> 00:14:35.740 to the next level, 428 00:14:35.740 --> 00:14:37.320 including a culture of ascension? 429 00:14:37.320 --> 00:14:38.880 So one thing that we're doing now 430 00:14:38.880 --> 00:14:42.160 in the seven figure mastermind is we have an elite program 431 00:14:42.160 --> 00:14:46.000 of $50,000 program with just Coach Corby and I, 432 00:14:46.000 --> 00:14:49.360 and we have something called the kick in the ass reward. 433 00:14:49.360 --> 00:14:52.760 So for people that graduate from seven figure mastermind 434 00:14:52.760 --> 00:14:55.320 to meet one on one in the first 90 days, 435 00:14:55.320 --> 00:14:56.320 I'd love to hear your thoughts. 436 00:14:56.320 --> 00:14:57.800 You can put me in the hot seat here. 437 00:14:57.800 --> 00:15:02.320 We put that towards their original 50K 438 00:15:02.320 --> 00:15:03.880 so that they're going to do something 439 00:15:03.880 --> 00:15:05.680 they're already planning on doing, 440 00:15:05.680 --> 00:15:11.160 but we're now going to collect an extra 35, 30K sort of thing 441 00:15:11.160 --> 00:15:12.720 in the first 90 days. 442 00:15:12.720 --> 00:15:14.560 I think you have a term for that. 443 00:15:14.560 --> 00:15:17.280 Is it upsell the downsell or downsell the upsell? 444 00:15:17.280 --> 00:15:19.160 So it's called downsell the upsell 445 00:15:19.160 --> 00:15:21.800 because in this goes for any kind of contracts 446 00:15:21.800 --> 00:15:22.920 you guys are selling. 447 00:15:22.920 --> 00:15:25.400 So if you're selling term, 448 00:15:25.400 --> 00:15:27.960 human beings in general understand priced decently, 449 00:15:27.960 --> 00:15:30.680 well, don't understand shit about terms, right? 450 00:15:30.680 --> 00:15:33.080 And so this is a really interesting one. 451 00:15:33.080 --> 00:15:33.920 I'm buying a business. 452 00:15:33.920 --> 00:15:35.560 I'd be like, what's more important to your price or terms, 453 00:15:35.560 --> 00:15:36.880 they're gonna say price and then I'm gonna be like, 454 00:15:36.880 --> 00:15:39.840 well, cool, I can do a zillion things on terms, right? 455 00:15:39.840 --> 00:15:41.680 So it's like, so here's a funny one. 456 00:15:41.680 --> 00:15:42.880 I just just illustrate the example. 457 00:15:42.880 --> 00:15:46.560 I said, hey, Vince, I want to buy your house real estate market. 458 00:15:46.560 --> 00:15:47.400 You know, what do you want for? 459 00:15:47.400 --> 00:15:48.240 What's more important to you? 460 00:15:48.240 --> 00:15:49.600 You might say price, just play a look, right? 461 00:15:49.600 --> 00:15:51.960 So let's say that you're like, well, okay, cool. 462 00:15:51.960 --> 00:15:53.120 Well, what is the price you want? 463 00:15:53.120 --> 00:15:54.960 Maybe you give me 10% of a buck market, right? 464 00:15:54.960 --> 00:15:57.360 And I'm like, cool, I guarantee you I'll pay you that price 465 00:15:57.360 --> 00:15:58.360 as long as we can do my terms. 466 00:15:58.360 --> 00:16:00.520 Fair enough, cool, cool. 467 00:16:00.520 --> 00:16:02.120 I'm gonna finance it over 30 years 468 00:16:02.120 --> 00:16:04.640 and you're gonna sell or finance it, right? 469 00:16:04.640 --> 00:16:06.600 And then I'm gonna take ownership of your house 470 00:16:06.600 --> 00:16:07.800 and then I'm gonna run it out 471 00:16:07.800 --> 00:16:09.680 and I never even put any in the deal. 472 00:16:09.680 --> 00:16:12.480 And so I'm just saying that it's an illustration 473 00:16:12.480 --> 00:16:14.120 that terms matter. 474 00:16:14.120 --> 00:16:16.120 And so it's called upselling the downsell 475 00:16:16.120 --> 00:16:18.200 or downselling the upsell, whatever, right? 476 00:16:18.200 --> 00:16:23.240 Is that I like to have a higher ticket contract 477 00:16:23.240 --> 00:16:25.880 that's extended over a longer term of time 478 00:16:25.880 --> 00:16:27.800 because if you're current, let's say front-end program, 479 00:16:27.800 --> 00:16:29.480 I don't know the pricing, but just play with me. 480 00:16:29.480 --> 00:16:31.760 So let's say it's 12k for 12 weeks, right? 481 00:16:31.760 --> 00:16:32.920 So it's 12k for 12 weeks, 482 00:16:32.920 --> 00:16:34.600 which means people are paying $1,000 a week 483 00:16:34.600 --> 00:16:35.920 is what they're currently paying. 484 00:16:35.920 --> 00:16:39.640 And so if I say, hey, next thing is a year, right? 485 00:16:39.640 --> 00:16:41.560 And you're gonna pay half as much as you are now 486 00:16:41.560 --> 00:16:43.600 and you're gonna get more than you're currently getting, 487 00:16:43.600 --> 00:16:44.600 do you wanna do it? 488 00:16:44.600 --> 00:16:46.000 They're gonna say sure. 489 00:16:46.000 --> 00:16:49.320 But the term is now four times the duration. 490 00:16:49.320 --> 00:16:51.080 So if they pay half the price, 491 00:16:51.080 --> 00:16:53.360 they're still paying twice as much. 492 00:16:53.360 --> 00:16:54.200 Gotcha. 493 00:16:54.200 --> 00:16:55.840 So you've got them signed up for say, 494 00:16:55.840 --> 00:16:57.340 16-week program or something, 495 00:16:57.340 --> 00:16:58.520 they're paying a certain amount 496 00:16:58.520 --> 00:16:59.560 and then you cut into half, 497 00:16:59.560 --> 00:17:01.200 which instead of renewing them for 12 months, 498 00:17:01.200 --> 00:17:02.920 it's for two or three years or something. 499 00:17:02.920 --> 00:17:04.680 Yeah, and then it's just like, 500 00:17:04.680 --> 00:17:06.640 if the first thing was 12 months, 501 00:17:06.640 --> 00:17:09.120 then yeah, the next thing would be 12 or 24 months, 502 00:17:09.640 --> 00:17:10.920 or whatever. 503 00:17:10.920 --> 00:17:11.840 That's freaking beautiful. 504 00:17:11.840 --> 00:17:15.040 Wow, we, there's touch on guarantees. 505 00:17:15.040 --> 00:17:17.600 So I wanna make sure we've tried this in the past. 506 00:17:17.600 --> 00:17:20.400 I don't, sometimes you can get into some muddy waters here. 507 00:17:20.400 --> 00:17:22.680 So maybe just like your breast practices on guarantees, 508 00:17:22.680 --> 00:17:26.680 especially when you're offering a 2x guarantee 509 00:17:26.680 --> 00:17:29.080 on selling the coaches you're making money, 510 00:17:29.080 --> 00:17:31.000 just kind of ways to do the guarantee 511 00:17:31.000 --> 00:17:32.600 to not get yourself in muddy waters 512 00:17:32.600 --> 00:17:33.600 where you're trying, 513 00:17:33.600 --> 00:17:35.840 and also attracting really low quality leads. 514 00:17:35.840 --> 00:17:38.040 I don't like selling broke people. 515 00:17:38.040 --> 00:17:40.120 I don't like, now I was broke 516 00:17:40.120 --> 00:17:41.800 when I hired my first business coach, 517 00:17:41.800 --> 00:17:43.560 if they didn't have, you know, terms 518 00:17:43.560 --> 00:17:44.720 I wouldn't have been able to start. 519 00:17:44.720 --> 00:17:46.400 So I do like offering credit 520 00:17:46.400 --> 00:17:48.080 and some form of incentive, 521 00:17:48.080 --> 00:17:50.000 but just let's talk about, 522 00:17:50.000 --> 00:17:51.760 I see some people putting out guarantees 523 00:17:51.760 --> 00:17:53.600 and I'm like, that's gonna be a nightmare. 524 00:17:53.600 --> 00:17:55.920 So some best practices on that. 525 00:17:55.920 --> 00:17:57.560 All right, we'll go for top down. 526 00:17:57.560 --> 00:18:00.560 So from the top, if I were to say, 527 00:18:00.560 --> 00:18:02.680 you're gonna lose 100 pounds, right? 528 00:18:02.680 --> 00:18:03.760 You're gonna lose 100 pounds, 529 00:18:03.760 --> 00:18:05.640 and I guarantee that you do that 530 00:18:05.640 --> 00:18:07.800 or I'll give you like your money back. 531 00:18:08.160 --> 00:18:09.160 I'll help you hit your goal 532 00:18:09.160 --> 00:18:10.960 or I'll give you your money back, right? 533 00:18:10.960 --> 00:18:13.120 Doesn't matter how many places get there. 534 00:18:13.120 --> 00:18:14.840 You probably have no problem in it, right? 535 00:18:14.840 --> 00:18:16.000 And the other side is, 536 00:18:16.000 --> 00:18:18.280 pay me and we'll see what happens, right? 537 00:18:18.280 --> 00:18:20.600 There's a space between these two extremes 538 00:18:20.600 --> 00:18:21.680 that you can pick. 539 00:18:21.680 --> 00:18:23.680 It's just that most people are here. 540 00:18:23.680 --> 00:18:26.480 So it's like, let's take a handful of steps 541 00:18:26.480 --> 00:18:27.960 or start here and then just peel back 542 00:18:27.960 --> 00:18:30.240 as few pieces as we can to stay as close 543 00:18:30.240 --> 00:18:33.520 to this total risk reversal as possible, right? 544 00:18:33.520 --> 00:18:34.840 So if we were just to do that, 545 00:18:34.840 --> 00:18:35.840 you'd have a more compelling offer 546 00:18:35.840 --> 00:18:37.760 to be able to sell for more money. 547 00:18:37.760 --> 00:18:38.760 If I were to sell a program 548 00:18:38.760 --> 00:18:40.320 that I have no guarantee versus the program 549 00:18:40.320 --> 00:18:41.160 that I do have a guarantee, 550 00:18:41.160 --> 00:18:43.280 you can sell that for more money. 551 00:18:43.280 --> 00:18:44.520 Because it's guaranteed the perceived likelihood 552 00:18:44.520 --> 00:18:45.680 of achievement goes up. 553 00:18:45.680 --> 00:18:46.960 It's a more valuable. 554 00:18:46.960 --> 00:18:47.800 It's truly more valuable. 555 00:18:47.800 --> 00:18:50.280 We changed nothing, except the guarantee 556 00:18:50.280 --> 00:18:52.600 of how we wrapped and positioned it, right? 557 00:18:52.600 --> 00:18:54.800 So one, we can raise the price. 558 00:18:54.800 --> 00:18:56.240 Number two, we're gonna have way more people buy it. 559 00:18:56.240 --> 00:18:58.320 So we're gonna have more buyers at higher prices. 560 00:18:58.320 --> 00:18:59.880 That's a double-force multiplier 561 00:18:59.880 --> 00:19:01.560 in terms of how much money you make. 562 00:19:01.560 --> 00:19:03.240 And you're probably not going to need to reach it 563 00:19:03.240 --> 00:19:04.240 because when you make that offer, 564 00:19:04.240 --> 00:19:05.680 everyone fun comes in, right? 565 00:19:05.720 --> 00:19:08.560 And so that's the extreme over here. 566 00:19:08.560 --> 00:19:10.360 So underneath of that, 567 00:19:10.360 --> 00:19:13.560 there's four types of guarantees that you can give, all right? 568 00:19:13.560 --> 00:19:17.360 The first type of guarantee is an unconditional guarantee. 569 00:19:17.360 --> 00:19:19.640 It's good old fashioned, what I just said, 570 00:19:19.640 --> 00:19:21.960 which is no questions asked. 571 00:19:21.960 --> 00:19:23.480 You ask for money back in stores. 572 00:19:23.480 --> 00:19:25.720 Now, you can also attach a different term to that. 573 00:19:25.720 --> 00:19:26.840 So I'll try not to get too in the weeds 574 00:19:26.840 --> 00:19:27.920 because I've old chapter on this. 575 00:19:27.920 --> 00:19:29.400 But you could say, 576 00:19:29.400 --> 00:19:31.440 I'm gonna give you a 30-day unconditional 577 00:19:31.440 --> 00:19:32.920 on a six-month program. 578 00:19:32.920 --> 00:19:34.640 So it's like, hey, buy it. 579 00:19:34.680 --> 00:19:37.360 So you say, hey, I'm not asking you to make a decision today. 580 00:19:37.360 --> 00:19:39.120 What I am asking you to do is make an informed decision, 581 00:19:39.120 --> 00:19:40.680 which you only do on the inside of the program, 582 00:19:40.680 --> 00:19:41.920 just like you wouldn't buy a car 583 00:19:41.920 --> 00:19:42.760 without test driving, 584 00:19:42.760 --> 00:19:44.480 you wouldn't buy house without walking it, right? 585 00:19:44.480 --> 00:19:45.880 So I'm not asking you to buy this program 586 00:19:45.880 --> 00:19:47.200 without actually having done it. 587 00:19:47.200 --> 00:19:49.600 So all I want you to do is give it a shot, 588 00:19:49.600 --> 00:19:50.440 which is start. 589 00:19:50.440 --> 00:19:52.240 And then if the end of the 30 days for any reason, 590 00:19:52.240 --> 00:19:54.480 whatsoever, you don't like the smell of my breath, 591 00:19:54.480 --> 00:19:55.560 even though we're virtual, 592 00:19:55.560 --> 00:19:57.480 you don't like the smell of my breath virtually, 593 00:19:57.480 --> 00:19:58.600 I'll give you your money back. 594 00:19:58.600 --> 00:20:00.000 All right, that's how confident I am. 595 00:20:00.000 --> 00:20:01.680 And the only reason I can make guarantees like that 596 00:20:01.680 --> 00:20:02.800 is because we're a legitimate business, 597 00:20:02.800 --> 00:20:04.280 and I know that we're going to be able to buy the results 598 00:20:04.280 --> 00:20:06.080 far in excess of what you've experienced in the past. 599 00:20:06.080 --> 00:20:07.720 All right, that's a 30 day. 600 00:20:07.720 --> 00:20:10.240 It might be a 12 month program, 601 00:20:10.240 --> 00:20:12.440 but once they pass 30 days, it's done. 602 00:20:12.440 --> 00:20:13.760 But you're going to sell way more people 603 00:20:13.760 --> 00:20:17.160 like that and at higher prices, right? 604 00:20:17.160 --> 00:20:18.880 So that's one. 605 00:20:18.880 --> 00:20:20.080 You could do it for the whole program, 606 00:20:20.080 --> 00:20:21.520 or you could do it for the shorter term. 607 00:20:21.520 --> 00:20:22.520 It's up to you. 608 00:20:22.520 --> 00:20:24.880 So that's type of guarantee number one. 609 00:20:24.880 --> 00:20:28.400 Type of guarantee number two is a conditional guarantee, 610 00:20:28.400 --> 00:20:30.480 which is, and with conditional guarantees, 611 00:20:30.480 --> 00:20:34.440 I prefer to make them way more like grandiose, right? 612 00:20:34.440 --> 00:20:39.440 So if it's, I'll help you lose whatever the poundage is, right? 613 00:20:39.440 --> 00:20:40.960 By X period of time, 614 00:20:40.960 --> 00:20:43.200 and then a guarantee has two pieces to it, 615 00:20:43.200 --> 00:20:48.200 which is you will get X by Y or else, right? 616 00:20:48.840 --> 00:20:52.680 So you're going to have this outcome by this time, or I will. 617 00:20:52.680 --> 00:20:56.640 So what the or I will is the thing that gives guarantee teeth, right? 618 00:20:56.640 --> 00:20:59.400 Most people don't have good guarantees, 619 00:20:59.400 --> 00:21:00.400 like no teeth on the guarantees. 620 00:21:00.400 --> 00:21:02.600 You see, and this is honestly what so Vince, 621 00:21:02.600 --> 00:21:04.720 when you were saying a lot of people are putting guarantees out there, 622 00:21:04.720 --> 00:21:06.880 most of them have guarantees that have no teeth. 623 00:21:06.880 --> 00:21:11.800 So I can say, hey, Vince, I guarantee I get you $100 million, right? 624 00:21:11.800 --> 00:21:15.920 If you pay me, and then you'll be like, or what, right? 625 00:21:15.920 --> 00:21:19.440 I'll be like, or you'll continue to have access to my materials. 626 00:21:19.440 --> 00:21:21.320 I mean, it's something. 627 00:21:21.320 --> 00:21:22.760 It'll get a lot of clicks on the headline, 628 00:21:22.760 --> 00:21:25.320 but from an actual like teeth on the on the on the guarantee, 629 00:21:25.320 --> 00:21:26.440 it's not as compelling, right? 630 00:21:26.440 --> 00:21:28.680 If they didn't get results in the first place, 631 00:21:28.680 --> 00:21:30.160 I wouldn't they want to keep it anyways. 632 00:21:31.440 --> 00:21:33.760 Yeah, I mean, that's my point. 633 00:21:33.760 --> 00:21:35.560 So it doesn't actually reverse the risk. 634 00:21:35.560 --> 00:21:36.800 Exactly, yeah, yeah. 635 00:21:36.800 --> 00:21:39.120 So the strength of a guarantee is proportional 636 00:21:39.120 --> 00:21:41.160 to the amount of risk of reverses. 637 00:21:41.160 --> 00:21:42.560 So you get and continue to access, 638 00:21:42.560 --> 00:21:44.040 I can use the headline of the guarantee, 639 00:21:44.040 --> 00:21:45.840 which has some value, right? 640 00:21:45.840 --> 00:21:48.280 But the the super nuts of it has no teeth. 641 00:21:48.280 --> 00:21:50.840 The more teeth you give to it, the more valid will be. 642 00:21:50.840 --> 00:21:53.880 So conditional guarantees, you can stack the guarantees. 643 00:21:53.880 --> 00:21:55.120 You've got to have an unconditional for this, 644 00:21:55.120 --> 00:21:57.720 and then a conditional for a longer period of time, all right? 645 00:21:57.720 --> 00:21:59.760 And then you can guarantee around the outcome, 646 00:21:59.760 --> 00:22:01.400 which is I want to help you lose X weight, 647 00:22:01.400 --> 00:22:03.560 or maybe that you're going to establish XZ habit, 648 00:22:03.560 --> 00:22:04.520 or it's that you're going to, you know, 649 00:22:04.520 --> 00:22:06.680 whatever the thing that you're selling is, right? 650 00:22:06.680 --> 00:22:10.240 And then I'll do that, and I'll give you twice your money back, 651 00:22:10.240 --> 00:22:13.200 if you don't lose this amount of weight. 652 00:22:13.200 --> 00:22:15.840 If, right, and this is what they have to do, 653 00:22:15.840 --> 00:22:20.240 as long as you attend all of the things, 654 00:22:20.240 --> 00:22:22.160 and you send me pictures of your food, 655 00:22:22.160 --> 00:22:24.280 and you check into the gym every day 656 00:22:24.280 --> 00:22:26.080 that you need, you know, whatever the thing is, right? 657 00:22:26.080 --> 00:22:28.280 And so there's all these little dials here, 658 00:22:28.280 --> 00:22:30.880 because on the conditions, the more 659 00:22:30.880 --> 00:22:34.240 do you have, the lesser reverse is risk for them. 660 00:22:34.240 --> 00:22:37.000 So you really want to be as selective as possible, 661 00:22:37.000 --> 00:22:38.320 and really pair down to like, 662 00:22:38.320 --> 00:22:41.720 what are the absolute necessities that someone has to do? 663 00:22:41.720 --> 00:22:44.400 Now, if you want to be a smart cookie about it, 664 00:22:44.400 --> 00:22:46.040 what you can do is look at the customers 665 00:22:46.040 --> 00:22:48.120 that you have right now, who are successful, 666 00:22:48.120 --> 00:22:50.400 who ascended and bought your next thing and renewed, 667 00:22:50.400 --> 00:22:54.360 and resigned, and say, what did these people experience 668 00:22:54.400 --> 00:22:56.240 in their first 90 days? 669 00:22:56.240 --> 00:22:58.600 What did they have happened, or even their first 30 days 670 00:22:58.600 --> 00:23:01.280 that they have happened, that were indicators, 671 00:23:01.280 --> 00:23:04.080 or leading indicators that they would ascend and stick. 672 00:23:04.080 --> 00:23:06.520 And so then, you build your conditions 673 00:23:06.520 --> 00:23:09.360 around the things that create ideal clients. 674 00:23:09.360 --> 00:23:11.680 I know, if someone sends me their meals every day 675 00:23:11.680 --> 00:23:16.760 for 30 days, the likely that that person ascends is 90%, 676 00:23:16.760 --> 00:23:18.920 then my conditional guarantee is going to be that, 677 00:23:18.920 --> 00:23:21.080 I will guarantee this, or twice your money back, 678 00:23:21.080 --> 00:23:24.080 as long as you send me this for the first 30 days. 679 00:23:24.080 --> 00:23:25.520 Because I know that if I get you that half of it, 680 00:23:25.520 --> 00:23:27.640 the first 30 days, you're going to keep doing it. 681 00:23:27.640 --> 00:23:28.680 Yeah, 100%. 682 00:23:28.680 --> 00:23:30.400 Yeah, so you need to know your milestone. 683 00:23:30.400 --> 00:23:31.400 Yeah. 684 00:23:31.400 --> 00:23:32.240 Yeah, I love it. 685 00:23:32.240 --> 00:23:34.320 It goes back to the offer now, and having, 686 00:23:34.320 --> 00:23:36.680 you know, when we talked about our last podcast, 687 00:23:36.680 --> 00:23:40.000 the one-way play, you know, having, all right, step one, 688 00:23:40.000 --> 00:23:42.440 you need to post this, step two, you know, 689 00:23:42.440 --> 00:23:45.160 your blunt post, step three, 25 messages a day, 690 00:23:45.160 --> 00:23:47.880 step two, if you don't do that, 691 00:23:47.880 --> 00:23:49.720 the only next thing I need to do, 692 00:23:49.720 --> 00:23:51.320 is say, in the gym, now I just need to see 693 00:23:51.320 --> 00:23:53.320 how you're lifting, right? 694 00:23:53.320 --> 00:23:54.920 Now I just have to look at your conversations, 695 00:23:54.920 --> 00:23:56.120 now I just have to look at the post, 696 00:23:56.120 --> 00:23:57.480 but I know the steps are right. 697 00:23:57.480 --> 00:24:01.040 So I love it, these analogies are so, like, you know, 698 00:24:01.040 --> 00:24:03.440 parallel with how you lift into gym, like, 699 00:24:03.440 --> 00:24:05.520 okay, you're doing dead lifts, and your body's not changing. 700 00:24:05.520 --> 00:24:07.040 All right, now we have to look at your technique. 701 00:24:07.040 --> 00:24:09.680 So, oh, that's fixed, now the body's going to change. 702 00:24:09.680 --> 00:24:11.080 Same thing with the business, 703 00:24:11.080 --> 00:24:14.200 which is why when you can reverse engineer those steps, 704 00:24:14.200 --> 00:24:15.440 you can make those guarantees 705 00:24:15.440 --> 00:24:19.520 because you've simplified your process, your method. 706 00:24:19.520 --> 00:24:22.920 So, it is my opinion that you should guarantee 707 00:24:22.920 --> 00:24:26.960 that scares you more than the customers, yeah. 708 00:24:26.960 --> 00:24:30.760 Yeah, and then figure out what's wrong with your business 709 00:24:30.760 --> 00:24:33.360 model and your fulfillment, that makes you scared. 710 00:24:33.360 --> 00:24:34.920 That's beneficial. 711 00:24:34.920 --> 00:24:37.080 You use the guarantee as the fear driver 712 00:24:37.080 --> 00:24:38.360 to get you to fix your business 713 00:24:38.360 --> 00:24:40.680 so that the service is on par so that you can fulfill 714 00:24:40.680 --> 00:24:41.760 those guarantees. 715 00:24:41.760 --> 00:24:46.080 So, unconditional, conditional, you can stack the two together, 716 00:24:46.080 --> 00:24:47.600 you can also have multiple conditional guarantees. 717 00:24:47.600 --> 00:24:49.400 You can say, I'm gonna guarantee that you'll hit 10 pounds 718 00:24:49.400 --> 00:24:53.320 by 60 days and a guarantee, you'll hit 20 pounds by 90 days, 719 00:24:53.320 --> 00:24:57.520 or that first period of spray, I'll credit back to you. 720 00:24:57.520 --> 00:25:00.080 You can say, yeah, credit, and just for everybody here, 721 00:25:00.080 --> 00:25:02.000 you can give a guarantee and not have to give money back, 722 00:25:02.000 --> 00:25:04.080 and give money as credit or extended time. 723 00:25:04.080 --> 00:25:06.040 There's other things you can give besides money. 724 00:25:06.040 --> 00:25:08.480 Money is just the least creative thing you can do. 725 00:25:08.480 --> 00:25:11.480 Hope you guys enjoyed us going deep on cohorts, 726 00:25:11.480 --> 00:25:14.720 adding scarcity, tactically into an everyday business, 727 00:25:14.720 --> 00:25:18.480 and adding guarantees so that people buy without feeling risk, 728 00:25:18.480 --> 00:25:20.440 so you ultimately make more monies. 729 00:25:20.440 --> 00:25:23.480 Part two of this podcast we're gonna talk about, 730 00:25:23.480 --> 00:25:26.200 utilizing investments, reinforcing behaviors, 731 00:25:26.200 --> 00:25:27.920 and how to scale teams.