Discover the blueprint to billions used by master marketer Jay Abraham to grow your service business and gain the all-important position of preeminence in your market. Find out how helping your customers understand the value you provide can transform your business and how the Socratic method of interviewing can lead you to hidden business insights you never thought were possible.
Key Lessons Learned:
- Optimization is the highest and best use of your time and resources.
- If you don’t fall in love with the people you’re serving, and that includes your team, you’re not going to be able to create something great. You may be passionate about what you do but are you passionate about the people you do it for.
- Most people just want to grow a business and make money, but you need to know what your endgame is.
- Why are you building a business in the first place?
- If you don’t understand marketing, you are not playing the game, business is playing you.
- You are rewarded in your business life for the value you create for others. If you’re not focused on that and instead focused on making money, you probably never will.
- It takes the same level of effort to build a business that is a systemless mess with no value as it does to build something worth a small fortune.
- You’re the one who chose your business and you should use it facilitate what you want to achieve in your life.
Traditional vs Non-Traditional
- It’s not necessary to go through the arduous traditional ways of growing a business. There are many different and creative ways to accomplish the same goals faster or cheaper.
- Most businesses spend money on advertising and ignore their referral business, but that’s going about trust completely backwards.
- You must test your marketing assumptions. One small variable can be responsible for 2x-4x the results.
- There are 50 impact points in your business that you don’t even know about and they all have variability. A 10% increase in 20 to 30 small points in your business can lead to many hundreds of percent increase in profit.
- Never launch something in your company and give it to everybody, that’s a good way to blow it up.
- Everyone could double their business right now by doing it better.
- Different articulations and ways of expressing yourself can make a major difference. Your headlines should convey the most self serving benefit that the other side can expect to receive when they take the next step.
- You don’t have to recreate the wheel, you can learn, adopt, and borrow from other methods that have worked before.
- Give your customer the understanding to appreciate the value of what you are creating for them.
- Most people don’t understand that human beings need to understand why you’re better. “The reason why…” can be your force multiplier.
- The things you do may be the same as everyone else, but if you tell the story and no one else does you will have a preemptive story in your market.
- Masterful marketing is more science than talent.
- You have to measure the lifetime value of different types of clients and leads.
- The way to get better answers is to learn how to ask better questions.
The Power Team
- The first thing you have to understand is that no one is great at everything and you need to figure out what someone’s strengths and motivations are.
- Your team looks to you for their security, fulfillment, and acknowledgement. If you don’t feed and nourish that you are doing a disservice to them and constraining your own growth.
- Your team has to see that you are committed to their best interest.
- Train your team in more than just your systems, train them on trust building, communication, and collaboration.
- You have to be able to acknowledge and appreciate other people’s different points of view.
- 95% of small and medium businesses never reach their goals because they don’t have goals, they have vague hopes and dreams.
- A business not examined constantly is a business not worth owning.
- Your team can produce more multiplied profit for your business but not if they don’t understand what performance metrics look like what to strive for.
- Interview your best employees on how they do what they do, it can be quite profound for the employee at the same time because they often don’t know exactly how they do it.
Here are a few different ways to catch the episode:
– Listen on iTunes (Apple)
– Listen on Stitcher (Andriod)