Latest / Success Story with Scott Clary / Jay Abraham - Strategy & Performance Expert | The Marketing Genius Who Built $50 Billion in Client Revenue

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Jay Abraham - Strategy & Performance Expert | The Marketing Genius Who Built $50 Billion in Client Revenue · Success Story with Scott Clary

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  the most precious and limited asset you could get someone to invest in you is their attention first
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  their trust second and their belief with their positive decision i think it's a very change
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  world one of the greatest things you can do for somebody is know how to listen acknowledge and
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  smile most people don't even know how to do that he's been called the billion dollar man and not
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  without reason jay abraham isn't just a marketing expert he's the architect behind the exponential
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  growth of over 10,000 businesses when fortune 500 CEOs hit a ceiling they don't call a consultant
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  they call j 95 percent of all entrepreneurs never reach their goals and the reason is they
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  really don't have they just have their goals i want to make a million dollars or i want to be
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  able to sell it for 20 million dollars most entrepreneurs they struggle non verbally with the
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  wrong question question is am i worthy of this goal when you realize how much more is possible
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  from time investment capital the right question is this goal worthy of me that's a profound
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  conclusion he spent over four decades helping brands uncover profits they didn't even know existed
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  by shifting perspective unlocking leverage and multiplying impact if there's anyone who can turn
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  your one dollar idea into a one hundred million dollar business it's him everybody up to have such
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  favorable predisposition when lose a draw in whatever transaction you have now you don't wait
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  for money to change hands before you start investing in the other side
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  jay if you had to describe what you do for a living how would you describe your work
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  i'll answer you with a qualification i teach people how to shift their positioning from a
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  unique selling one which may or may not be compelling to an advantage which is more compelling to a
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  to a preemptive advantage which is even more compelling to a monopolyptic i can't talk
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  monopolytic one which is very to then shooting for a a exponential game changing one and i always
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  struggle myself when i started it was easy because i was mostly marketing and and advertising and
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  just revenue generation and we used to say that basically he's the ultimate expert at uncovering
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  hidden assets overlook profit opportunities under performing revenue activities under utilized
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  relationships undervalued resources and turning them into significant windfall profits and then
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  converting them to sustainable revenues streams that are perpetual all for almost no investment
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  or risk today i got to think about it but that was a very compelling way it wasn't exactly
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  articulated that way but when everyone heard that it was oh wow i want to know more
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  so if you look back at i mean you've worked with thousands probably tens of thousands of businesses
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  thousands of industries at this point if you look at just paint a picture for how the business
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  landscape in broad strokes has really changed from when you started building businesses and maybe
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  even walk through you know this inflection point in your life that pushed you down the road to want
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  to build scale drive revenue cell but what's changed since when you started well i mean let me
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  clarify are you asking me to tell you a little bit of my origin story a little bit a little bit of
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  the origin story is it's really fascinating in in a in a it initially sad but then a positive way
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  so i got married the first time at 18 i had two kids at 20 no education nobody really cared
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  and i had the needs of somebody about 40 when i was 20 and the only people who would give me any
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  kind of an opportunity were very interesting entrepreneurs who would give me an eat what you kill
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  opportunity meaning there's no salary if you perform kid you can have a piece of the sale or the
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  asset or the deal or the distribution channel if you don't sorry and so i but nobody cared about time
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  it was all result denominator which was a wonderful wonderful formula of
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  attitudinal prejudice that i gained but basically since they didn't care about time i would
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  typically do five or six things concurrently and as luck would have it two different dynamics
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  the first were i was drawn to entrepreneurs that even though they were tough they were either people
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  who had found niches gaps in their market that they were filling or had realized that the the
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  products services that were being provided at the level they were being provided at were not
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  optimal and they were really bringing it to a much higher strata of value to their audience
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  i did not understand it exactly then but through us most as i got that now because i did five
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  or more things concurrently all the time i was lucky as can be because i chose not to ever do
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  them in the same industry where that became just unimaginably valuable was after about 10 different
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  activities in 10 unrelated industries i made a profound realization so as long ago when i started my
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  career that people in one industry do not have a clue Scott how people in another industry think
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  act market strategize source they don't have the same uh business model they're on the same
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  access vehicles they're the same value creation they're on the same process systems and yet
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  you could borrow derivatives of each of them and apply it to industries where everyone is doing
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  the same thing the same way sort of follow the herd and it was explosive and when i made that
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  realization i started looking at the basic commoners drivers to the different industries and then
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  overlaid it to the lack of even understanding or uh comprehending any of those in the industries i've
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  been in i realized urica and i created something called funnel vision vs tunnel vision and i started
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  applying basically basic stuff to industries i was in and i was the one i'd like oh we can't talk
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  and what i man in the land of the blind and it was explosive and that was how i started and then
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  when i realized that i was on i was on a a a tear i wanted to learn everything i could about everything
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  i could about every industry i could so i could integrate it into the fabric of my methodological
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  approach that i had this my my um quiver had so damn many optional arrows that it was no contest
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  that's sort of that that's the origin story no it's a good origin story it's very insightful because
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  i i think even you know i i had a double a dual pronged question there where i was asking the
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  origin story but i was also asking how you've seen things change since your origin story when you
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  work with businesses and there's been a lots has changed but i also think that that wisdom that you
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  had when you were first starting out is not so common still i think there's a lot that we can learn
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  from other industries that we don't live in because we're so myopic and we have blinders on to
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  our own problems and we don't look outside for all these different ideas and sort of like help us
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  grow or help us scale i think i definitely still have that issue today yeah and i'm going to tell you
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  the the the the the point of the point of inflection but i would tell you one more and this is just
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  for for you to build on anyway you want to take this interview so arguably that alone was profound
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  in my career development but what became second uh level of i guess i would call it sort of by
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  turbo profundity was that i got the privilege to help about 300 world class experts over the last
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  30 or 40 years none of them came to me skyd for help with their methodology they had that
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  knocked they came for help commanding higher and and and more concrete market uh value uh perception
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  they came to me to be able to correlate and and concretize abstract things they came to me with the
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  challenge of how do you translate what i do to how it impacts in a measurable way whether it's
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  revenue or productivity or expense saving or competitive advantage but i had to learn
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  a distilled condensation or i really just a uh short course primer on every one of their
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  methodologies so the knowledge base that i've been able to borrow from between all the experiences
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  and now it's over a thousand industries and all the experts you know that steven cubbies
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  mr cubbies the tonies all these people is already robins and i helped the number and i'm not saying
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  that's not arrogant just clinical i helped the number one expert and six sigma the one number one
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  expert in in theory of constraint the number one guy who came up with process improvement
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  optimization over my career so all that knowledge got compressed and and packed into my brain to
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  access for clients so my worldview is very deep broad and it's very enveloping it's very cat
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  scam like and now as far as the changes you know everything changed probably more so in the last
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  two or three years obviously the internet changed obviously uh people's prejudice was spending
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  most of their life online or on you know social media changed tremendously the fact that everything
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  was public and you could create you could create synthesized
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  expertise and popularity it will change uh and i think that the consumer
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  lost their ability to discriminate and obviously uh you had worldwide competition when i started
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  it was very interesting i was the only person that had helped almost every major influencer
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  in the entrepreneurial sector not not corporate but entrepreneurial and i've made them all
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  very significant amounts of of money and and enhance their success growth and postures so
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  they were always very willing to promote indoors and and advocate my attributes but then when
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  the internet came everybody and their brother could just take anybody's you know anybody's
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  proprietary IP they could ascribe it to themselves they could basically show a picture of themselves
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  you know with their rented jet and their hot 18 year old girlfriends and their rented mansion and
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  and and there was a lot of people that were uh really uh really moved by that sadly there's
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  another side that i think it's a positivity it gave it gave birth to a lot of uh a call
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  qualitative one trick ponies there were never as many specialized experts when i started i've
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  been doing it for a very long time and i'm i'm in awe of the of the niche expertise that people
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  have commanded particularly now that technology allows them to do it and i think also there's a
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  positive in it that now without having to raise a billion dollars and without needing a thousand
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  people you have the ability using technology whether it's AI or some other uh upside leverageable
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  tool or solution to be very competitive without having to have you know a huge facility huge team
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  and and i think that's wonderful but i think the world has changed dramatically the thing that
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  frustrates me is probably the most the most precious and and limit to the asset you could get someone
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  to invest in you is their attention first their trust second and their belief in whatever
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  you are advocating that you're really to be trusted and uh and entrusted with their with their
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  positive decision i think it's a very changed world what is the insight for somebody building a
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  business to understand the current state of the consumer and how to capture them and sell to them
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  properly well and and you've studied some of my work i have so much that it would be um improbable
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  to think you've studied all of it but one of the earliest things that i was fanatical about was
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  something i called the strategy of preeminence i'm telling you this not to go rogue on you but to go
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  right to the answer actually this was this was actually we haven't even gotten into that was the
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  first thing that i was going to go into but then you started to get interesting so then i pushed it
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  back a little bit i think it correlates here so i studied i studied i mean i'm um i'm uh like a
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  closet student of the human condition and so i studied for years as i was doing this you know the
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  people who own pre-emptive and pre-eminent and and i went from from um people that had
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  that had significant um what's the word i would use um they were prominent and then i looked for
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  a pre-emptive and then i looked at pre-eminent and it was a very i believe it or not if you look at
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  gradients and i'm into i studied and i'm not a mathematician but people don't realize this
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  everybody and by the way i'm a poster boy for adult attention deficit and i'm like a
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  net that has had a lobotomy so you'll have to tolerate me going rogue on you and me on myself
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  but i studied uh everyone talks about the 10x moon shot i'm going to get to pre-eminent
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  so just a minute the 10x moon shot uh you know exponential growth and i studied it for a little bit
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  and people don't realize that in math you study math which i didn't i just did some research on it
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  there are five or six gradients that are literally above and beyond uh
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  exponentiation it's called hyper operationalization and it's tetration,
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  hexation, heptation, pentation, octation and and you couldn't even correlate it'd be like to
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  infinity or beyond and the point is you can really take performance so much higher for the same time
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  effort opportunity capital access to the market human capital etc now back to your answer for
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  the consumer i created after studying a lot of people that were operating in this literally
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  pre-eminent world what it was about them that was profoundly different and i'll send you a deck
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  that i did on it because just for yourself you'll love it and you're welcome to share with anybody
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  and it basically had many facets but to give you the short takes about three hours to explain it
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  and it's deep but number one they were seen as the most trusted advisor in the category the
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  only viable solution you could turn to and the reason was they did not give information they did
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  not try to sell they always tried to advise and tell their market what they felt was in the
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  market's best interest irrespective of whether that was in the company's best interest and
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  secondly whether the the whether the consumer purchased what they advised in the in the combination
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  the quality the consistency that they advised they always told what they believed was in the
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  best interest i used to tell story if if you came to Jay Abraham's bottle water shop and water bar
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  and you asked me for one half of a cup of water and i took your money without first verifying that
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  you knew that your body needed seven and a half more of these every day's got for your body to
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  function your cellular a health to be at prime your your creativity to be optimal your digestion or
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  your excretion everything to work for your stability for your stress level and i didn't go out of my
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  way to make sure you knew that irrespective of whether you upped your purchase from me i would be
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  deserving you i'm talking about being preeminent if you came every two days in body glasses but i
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  didn't make sure that somewhere not necessarily me but somewhere you were getting the other eight
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  and didn't go out of my way to make sure you knew what i believe was in your best interest
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  i was stealing from you so the first thing in being preeminent is being seen as the most trusted
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  advisor the only possible source or or or or uh place you could turn to and that is only possible by
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  doing that the next is understanding and putting into words what your target audience wants and
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  doesn't want in ways and it dimensions that no one else has ever articulated and you cannot do that
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  if you don't really go to great depths to understand it and i can tell you later on
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  a way that anybody can do it i call it the mind of the mark and that's another methodology we've
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  produced next is that you basically want to make sure that no matter what business industry you are
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  in you don't fall into the mistake of falling in love with your company fastest growing company
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  ink magazine fortune by a hundred uh uh Russell 1000 or you love your industry or you love your
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  product you want to fall in love with the people you serve and you have three kinds of clients
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  and you want to call them clients because if i call you a customer if you look it up
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  Scott and Webster's dictionary it's somebody who it's somebody who's buying a commodity or a service
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  if i call you a customer but i want to be preeminent what i'm really saying implicitly if not
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  explicitly is i am a marginalized commodity and lucky as heck you're dealing with me and not
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  my competitor or an alternative form if i call you a client if you look it up it's somebody who's
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  under the care the well-being and the protection of another has a fiduciary connotation when i
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  see myself being your most trusted advisor and i see my responsibility and i get that that
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  everybody in the company sees that and we're on a mission and a crusade in behalf of that
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  market of the of the prospective client and we see our role as being integral no matter if we
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  answer the phone get the package to the you know to shipping faster that it all helps achieve our
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  purpose that is very profound the other thing is literally you've got to stop thinking
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  transactionally if i think that i sell water and i don't think about what happens when that water
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  is acquired by you and it's starting to serve your your body then i've marginalized myself
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  a good example and you can you can throw a monkey wrench and stop me because i can go i can go
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  wrong no no i i i i i'll i'm going to i'm going to no go go ahead and tell me the other example
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  and give you a great example and you know this because we talked offline i've had a thousand
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  industries around the world i've helped so i have a lot of of experience in this one time i had the
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  largest first time home builder in all of mexico they had 87 facilities they had 3000 salespeople
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  they were doing billions they were traded on the new york and the mexican stock exchange and
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  they wanted a breakthrough and so i actually flew out there and i i i spent time with not just
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  the sales management with many many many of the salespeople and i asked them what they did and they
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  said we sell first family homes now the first family home market there i don't know if it's still
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  the same because i've been back for three four years the government had a policy that if you work for
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  a legitimate company that pay taxes they would make your down payment and they would then
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  structure your mortgage payments to conform with your income so you could afford a beautiful home
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  in a brand new development with security walls with with all kinds of wonderful facilities
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  pools etc uh it was in wonderful new areas where there were there were dedicated teachers
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  now put that in the band so these people said we sell new we sell first time homes i said well what
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  happens when somebody buys a first time home nobody asked them i said let's look at it first of all
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  a couple that normally had only two options they would live in a terrible area in an apartment where
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  it was very non conducive for a good environment for the wife it was non conducive and a good
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  environment for the kids and and the husband would have a lot of pride or they'd live with the
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  parents who would micromanage the family it would be just terrible on the relationship between
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  husband wife parenting etc because the grandparents would try to parent uh you know both the the
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  husband or wife where their child was and the kid when they get into a new development first of all
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  this pride of ownership it's a beautiful home the husband feels like his work has produced something
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  he works harder is more exciting gets promotions makes more the wife hangs out with quality people
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  so do the kids their success probability is enhanced dramatically the teachers are young and still
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  want to teach they're not jaded and calcified about the whole process more importantly they are
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  building an asset that will give them security for the rest of their life if they can't afford it they
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  can rent it and get somebody else to pay for it for them if they get it paid off and their parents
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  die and they inherit the house now they've got an asset that will give them a higher quality of
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  retirement or living or it'll pay for their children to have the education of a lifetime anywhere
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  they want and went through all these things there's a lot more and I said no you don't just
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  sell first time homes you transform entire family lives and every morning we started our day
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  saying how many lives are we going to transform today and it was game changing using the positive
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  aspect I'm just giving you a few examples of that I was going to say I was going to say a lot of
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  this strategy hinges on you challenging the customers perception you you challenge their world view
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  to a degree so that that places you in a position of trust because a lot if a company is just
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  transactional then they're just accepting what the customer wants and that's and they're they're
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  going to sell it to them but this preeminent strategy seems to challenge so that you are not
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  only just understanding what your customer wants you're also trying to get them to see the world
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  through a different lens and then that would be your that would be your company do that is that
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  it's it's it's a duality it's trying to see your business through a different lens but it's
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  also trying to have people see you in contrast to everyone else if you think about it's divide and
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  conquer there's everyone else and then there's you and and you know we've got I mean I'm talking
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  about something that's very sophisticated when you execute it but that's only one of about 97
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  methodologies we've given but but what we try to do whenever there's a lot of competitive
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  landscape and we're trying to get someone to be very preemptive when people challenge them about
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  somebody else we we don't say oh uh Scott is a is a wretched swine and he's a he's disgusting he's
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  he's his stuff is crap instead we always say look there are a lot of very quality people in our
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  industry and we know all the the good guys and women and and they work very hard and their
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  products are very good and their people are very dedicated and they they give a good value and then
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  we add that we that we're the penny drops are the brick drops for what they do but we don't even
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  play in that world we operate in our relationship with you and and how we engineer our products or
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  our services and what we're committed to deliver and how we go above and beyond the the you know
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  the expectations and how we basically design everything as if it was for ourselves in a much
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  higher strata so we don't even we don't see ourselves even be compared and you do things that are
• 25:24
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  prolonlife.com slash clary what would you say would be the best example you've seen of somebody
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  establishing pre-eminent so an entrepreneur who's listening to this is trying to think about
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  okay so how do I do this with my business what's a good role model it's and I wish I had my old
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  deck because I have a list of of 30 companies that go right to but if you think about it
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  well if in there I don't know if oh crime who's what's the shoe company that
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  any died but it's the shoe company that the gentleman that died Tony Shay started
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  you know if they didn't have what you wanted they would find it for you and tell you where to
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  get it the old I don't know if Ritz Carlton still does it this way because I very rarely stay
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  there but they would do anything you need it way beyond the level it's people willing to stand out
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  in service to you in ways they know matter that nobody else is it's not just willing to do
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  but but perceptive perceptivity or whatever the word is enough to really see that that is a
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  profound impact I've got a list of them and I'm sorry I've got so many things I talk about
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  that I've built no no no I all five is looking up I'm trying to find a if you look we have
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  something on preeminence and if you look at it it's in two or three decks I gave you and
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  and the one that's in if I gave you a deck on the seven on the seven steps to creating wealth
• 30:09
  business wealth without risk it's got about it's got about 10 or 12 examples that are so
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  screamingly evident that you see it and you go wow and the only reason I apologize to your
• 30:20
  viewer list it was it was Zappos by the way it was Zappos yeah but I mean if you if you wanted
• 30:26
  something and they didn't have it instead of saying oh we don't sell that thank you for calling
• 30:31
  they would say let us find out who does for you and let us give you a link to their to their site
• 30:37
  I mean they would do they they were preeminent because they were committed to the betterment
• 30:43
  the well-being of the client one of the things that I didn't say this is is I'll tell you what I
• 30:50
  be I will not let you buy more than you should in more quality quantity consisted in and you should
• 30:58
  I won't let you buy less I won't let you buy just so I can make a profit and when you shift your
• 31:06
  mindset and your whole team is on this mission and crusade and they're not transactional they are
• 31:14
  living by the way you're living with the mindset of knowing what your product or service
• 31:20
  deployed in somebody's life or business is like and you can take this very sophisticated but
• 31:27
  you can take it down to a an ice cream vendor in central park who who has gone out of his way to
• 31:35
  have the most delicious ice cream and cones and he knows or she knows that for 20 minutes in
• 31:41
  somebody's very stressful adult life they give an environment that's safe and it's it's reminiscent
• 31:48
  of a time that was that was the joyous stress-free easy and they give that person a chance to have a
• 31:57
  great experience and they smile one of the greatest things you can do for somebody is know how to
• 32:03
  listen acknowledge and smile and most people don't even know how to do that it's it's very basic
• 32:09
  stuff but I think we get so caught up in pursuing metrics and numbers and KPIs that we forget
• 32:14
  at the end of the day who we're really serving so I've studied this I mean I've studied too many
• 32:18
  things for my own good but one of the things I look at is there's there's KPIs and there's
• 32:24
  APIs KPIs are the five or six factors everybody looks at APIs are all the nuclear interrelated
• 32:32
  factors impact points leverage factors that exist and connect an activity and if you understand
• 32:41
  them each of those can be improved increased multiplied and most people don't even look at it
• 32:47
  you know and it doesn't start at the beginning it starts before the first mile it continues after
• 32:53
  the first the last mile and it's the average company if you just look at revenue system has
• 32:58
  something like between a low of 11 and a high of 51 interrelated impact factors nobody really
• 33:05
  measures recognizes or tries to improve and we were talking earlier that I understand a duality of
• 33:14
  and I'm not saying this to be cool I've just been exposed to so many broader thinkers that if I
• 33:19
  didn't retain a little of their their their profound knowledge I'd be dumb but but most people
• 33:27
  don't even think about any of these things but there's all kinds of of ways that you can multiply
• 33:35
  the performance of a revenue system or a team or salespeople that nobody teaches and and it's
• 33:43
  almost a tragic because you ask me why I got into this after I stopped going back in time to my
• 33:48
  origin I'm not trying to usurp you I'm just giving you a deferred answer so after a while I hurt
• 33:55
  for entrepreneurs and CEOs who were working their heart out and accepting a fraction of a fraction
• 34:02
  of the impact the the result the contribution the you know the the success that the effort the
• 34:12
  opportunity the resources the capital the team they were deploying could produce because they
• 34:19
  were living in what I'll call a very very linear wedded to tradition type of an incremental world
• 34:28
  and I started trying to create what I'd I now call an exponential entrepreneur who basically
• 34:34
  understands that you can work on the geometry of your business and you have an almost
• 34:39
  unimaginable spectrum of leverage points that you can improve safely quickly easily and they when
• 34:47
  they when they work together it's very explosive and I'm sorry I went on a tangent no no of course
• 34:53
  no no problem because I know you've spoken about like geometric versus linear growth and I know that
• 34:58
  this is some of the sort of the key pieces to your work where you found that entrepreneurs were
• 35:03
  basically unlocking less than 10 percent of their total opportunity in their business
• 35:10
  where do you think where do you think the biggest blind spots are for entrepreneurs in their
• 35:16
  business well I mean I'll tell you what I have found so everybody teaches you to go we talked
• 35:27
  about this everyone's a 10x exponential moonshot play but what they don't really tell you is in
• 35:33
  order to do that here's what you have to do usually it's got to be driven by sophisticated technology
• 35:40
  if it's not something you're really aware of you're going to have to find all the experts who
• 35:44
  understand the combined parts of that you're going to have to pay them a very very significant
• 35:50
  retainer you're going to then have to allocate a lot of time and money to support teams to do it
• 35:58
  you're going to have to choose the application and be lucky as heck if you are right concurrently
• 36:04
  you're going to have to keep your regular business going it's going to be like building your own
• 36:10
  custom homescott it's going to take longer costs more than you can possibly think and it probably
• 36:16
  isn't going to work the way you want and you're going to have to fund it one of three ways taking
• 36:21
  it out of cash flow which will constrain your regular business borrowing which will constrain
• 36:28
  your cash flow or diluting which will constrain the independence you want for your business because
• 36:33
  you don't want to dilute until you've got an asset that's blown up so that the multiple is going to
• 36:38
  be there if you instead realize that within any business there are multiple leverage points that
• 36:46
  you can increase an impact and multiply usually for zero additional investment or risk and each one
• 36:54
  gives you performance enhancement which translates to newfound cash flow and revenue
• 37:01
  that could be used down the pike to fund this this revenue everyone wants a 10x revenue whereas
• 37:07
  it's so much easier to get a 10x bottom line and it's more safe and I don't know if I answered
• 37:13
  the question or not because I was on a role but I'm I'm wondering if you want to re-ask it if I
• 37:19
  didn't really address it correctly well I mean you're so you're so what I was looking for it yeah
• 37:24
  so you're highlighting okay obviously it's hard you want go ahead yeah so the first thing is and
• 37:32
  again I'm going back to my earliest stages is not profoundly new but I first of all realize you
• 37:37
  could work on the geometry of a business and if you did that the results were that were outsized
• 37:43
  you know to the you know to the 10th or 20th power so the first thing is I created something called
• 37:49
  the three ways to grow a business most people think there must be a myriad of ways so there's
• 37:54
  only really three major in three advance the three major are you increase the number of buyers
• 38:01
  you increase ethically it's got to be ethically the size of the transaction and thus the profit each
• 38:06
  transaction produces and third you increase the frequency or the utility frequency means if you
• 38:14
  have a highly recurring purchase product or service you make sure people buy it for the longest
• 38:21
  retention period possible if you have many you make sure that ethically always ethically you cross
• 38:28
  over and get them to buy as many products as often as practical if you have only one product or
• 38:35
  service you see what kind of ethical increased utility value you can gain from what I call
• 38:43
  sunk cost investments sunk cost investments are by prospects that didn't buy your product
• 38:49
  sunk cost investments are people who bought one thing and could be buying that one thing frequently
• 38:54
  are many things sunk cost investment are people who bought everything sunk cost investments are
• 39:00
  variations that exist in revenue generating like sales people and I have a story on that if you want
• 39:07
  to go there that'll blow your mind but I mean there's just things like that so the first thing is
• 39:12
  the three ways then if you get that far you do the advanced three ways and that's really simple
• 39:18
  the advanced three ways are you penetrate a new marketer niche every year you next you acquire
• 39:25
  a product or service every year and why do you want to do that well if you have a very expensive
• 39:31
  product or service Scott and you acquire a modest one it's easier to start a relationship than
• 39:37
  to spend 10,000 if I can spend you know $25 or $100 or you acquire a product you can package with
• 39:46
  your normal product or service which may not double your average sale but might triple the profit
• 39:52
  that sale produces or if you acquire an expensive product or service you put it on the end and
• 40:00
  that could double or redouble your your LTV and why do you want that because in the competitive world
• 40:08
  you want to have the maximum competitive ethical advantage if you don't have a patent advantage if
• 40:15
  you don't have an exclusivity advantage if you have double or triple the profit from a typical client
• 40:22
  or buyer you have much more what is called allowable investment cost to invest not spend to
• 40:30
  bring in the first sale you could maybe invest twice what what I could you can invest bonuses you
• 40:38
  can invest in more commission you can invest in developing more distribution so though that's
• 40:43
  first thing the second thing you do it's very simple too it's called a a power parathon on
• 40:50
  geometric growth if I had all of your viewers in a room right now and I asked to people to
• 40:57
  stand when they basically heard a certain kind of a selling or revenue generating approach that
• 41:03
  they basically did almost exclusively you get all of all of a play some would be sales for some
• 41:09
  would be webinars some would be retail some would be trade shows so it doesn't matter some would
• 41:16
  be obviously social media and you'd ask them how much that generated of their business it's normally
• 41:22
  80 to 100 percent but if you ask somebody where 80 to 100 percent comes from one thing and you've
• 41:27
  just identified 10 other ways that if they just added 10 percent oh I didn't do this pardon me
• 41:34
  back to the three ways I have a and I'll give you any of this you can put up freely on your
• 41:39
  site for people if you just increase those three categories the main ones the number of buyers
• 41:46
  the number the the the the size of the sale and the frequency or utility of purchase 10 percent
• 41:53
  in three ways it's not 10 percent this is where geometry comes in it's 33 and a third percent
• 42:00
  if you double those three numbers it's 800 percent that's where geometry comes in but you can
• 42:06
  apply geometry all the way through the first is the three ways the next and by the way I have about
• 42:11
  20 ways in each category that you can do it and they're not that hard but most people aren't taught
• 42:16
  to do that they're not thinking outside the box very basically they're not thinking outside the
• 42:21
  box they're so set right yeah so then you do what I call a a powered parthenon you and I call
• 42:28
  that because I start with what's called a diving board sounds very simplistic think about a
• 42:33
  diving board in your mind the board is revenue the support beam is the one primary source you're
• 42:38
  getting it from if anything happens COVID you can't call on people Apple changes their their
• 42:46
  algorithm or or or or or matter changes their algorithms a platform gets saturated a new
• 42:55
  when comes up anything happens you're screwed but if you have eight other pillars that are each
• 43:02
  adding 10 15 percent more revenue than your main source it's not eight or 10 it's 10 times 10 times 10
• 43:10
  times 10 and it gets off the chart and then I take I'll take it to sublime a bunch of smaller
• 43:19
  entrepreneurs and actually some larger ones get as much as a hundred percent 20 to a hundred
• 43:24
  percent of their business from word-of-mouth or referrals and when I used to do seminars I don't
• 43:30
  do them anymore when I used to do that might have everybody stand up if they got at least 20 to
• 43:35
  a hundred percent of their revenue from referrals and we go around the room and say tell me the
• 43:40
  percentage and tell me the numbers will be out of the chart 30 percent 200,000 50 percent 5
• 43:46
  million 100 percent 20 million then I'd say remain standing only if you you have in place right
• 43:53
  now at least one formalized systematized continually adhered to referral generating strategy that
• 44:01
  you and your team always follow 95 percent sit down I'd say okay we range to have you have to 95
• 44:07
  percent of the 5 percent sit down three they all sit down we have 125 because I've been able to
• 44:13
  look at so many industries that really think differently but I'm going through but you change
• 44:19
  you then after you've done the power parthenon all this is working on geometry safely easily most
• 44:26
  of it can be done with very little investment very little risk and it can be they ROI can be
• 44:31
  unimaginable then you do what's called that I call them the nine drivers of expan entry growth
• 44:38
  small shifts have big outcomes change your strategy change your results a lot of smaller SMB
• 44:45
  businesses their strategies to be tactical change your marketing there's a bunch of ways to do
• 44:50
  you change your results change your business model you change your results change your distribution
• 44:54
  channels you change your results change how you use capital or the equivalent there's all kinds of
• 44:59
  equivalents that could take a long time to explain it you change your results change how you use
• 45:04
  relationships you change your results almost nobody realizes that literally you can double
• 45:11
  redouble and redouble a business not overnight but almost overnight by setting up strategic alliances
• 45:18
  partnerships joint ventures endorsement deals recommender provider status co branding and network
• 45:26
  networking referral networks excuse me if you look at the data it's very fascinating
• 45:33
  two thousand of the top corporations in the United States right now get 20% of their revenue
• 45:40
  but the real kicker here is 40% of their profit from partnerships uh Microsoft gets $32
• 45:49
  million a billion dollars from in their biggest division from partnerships uh uh uh
• 45:57
  KPMG one of the companies spent eight billion buying a company just because it had great partnerships
• 46:03
  uh i mean i get stories go over it but there's there's some companies that don't even sell direct
• 46:08
  to customer their entire businesses partnerships that's right and and most companies see i mean i do
• 46:14
  a lot of work in israel and they're the most brilliant technological people but and i saved
• 46:19
  to their face and there was an article in their Wall Street Journal that interviewed me on this
• 46:23
  their tactical as could be they don't really understand strategy understand partnering they want
• 46:27
  to go alone which is the hardest slowest most expensive i was in the seminar business when i was
• 46:32
  about your age i'm a lot older now we did two hundred and fifty million dollars a quarter billion
• 46:38
  dollars of seminars on a worldwide basis and my out of pocket initially was three hundred
• 46:45
  thousand dollars i got every financial newsletter to promote me i got every investment seminar
• 46:51
  company promote me i got success magazine to promote me i got entrepreneur to promote me i got
• 46:56
  all the inflites to promote me on a revenue sharing basis i i had the number one uh uh
• 47:02
  event organizer in uk promote me in hamsterdam promote me in japan promote me before
• 47:11
  relationships strained in china in in singapore in malaysia in italy and i had no risk at all i
• 47:20
  just shared revenue with them and they put the full force of their distribution their assets their
• 47:26
  their uh their clientele their reach their their overhead at my disposal i use an analogy if you
• 47:33
  want to think about uh partnerships because pretty interesting you understand what assets
• 47:39
  under management means right and any of any an investment would know that well if you maximize
• 47:44
  your ability to really develop partnership relationships you can control other people's assets
• 47:52
  under management that could be literally as much as a billion dollars for no investment or risk
• 47:58
  and the yield you get off of it is a lot more than 15 or 20 percent because they're paying you know
• 48:04
  millions of dollars and rent and payroll and research and technology and they've spent millions
• 48:10
  or hundreds of millions on advertising and you get to harness all of that for nothing but a share
• 48:17
  of the results that occur and that's not even the bonus the bonus is when they promote to their
• 48:24
  whole database even though you get direct business you're getting highly credible brand building for
• 48:31
  nothing i can go on but i mean i got lots of ways does that answer the question it does i think
• 48:37
  that the bigger question is why do so many entrepreneurs get stuck in this linear thinking model
• 48:43
  because everything you're saying i agree with it makes so much sense but like you said the majority
• 48:49
  the people that you probably see do it the most expensive the hardest the most friction possible
• 48:54
  i feel like that's the default too far too too full uh because i think that that super logical thinking
• 49:02
  isn't that easy but i'll give you a couple simple examples of it to show you how to motivate people
• 49:08
  i think that they again status quo follow the herd linear thinking i'm going to do what you do
• 49:14
  and i think trying things differently if you have an infrastructure that is rigid is very hard
• 49:21
  i'm attracted to i mean i am attractive to all kinds of people but when they're left to their own
• 49:28
  devices that i don't really help them they don't do much of anything with it because they get sucked
• 49:33
  into status quo but but um i was going to give you a great example so let me give you simplistic
• 49:39
  so i've held lots of highest performing companies and lots of industries one of them is the number one
• 49:44
  Honda Accura dealer in the United States and maybe the the the country i mean the world and he
• 49:52
  basically came to a couple of my programs and he realized that the best place to access uh deals
• 50:02
  is in service because people are there with a car and it's got one of two two things it's either a
• 50:06
  great vintage and great shape uh way beyond their their normal and they can offer them a great trade
• 50:14
  for it against something else or it turns out to cost so much that when they when they get the bill
• 50:20
  they're freaked out and they can get them out of the bill without paying it and and just by by
• 50:25
  something i shared with them in a q&a section he set up an entire sales department in service and
• 50:31
  now he brings it over a million dollars of gross profit to the bottom line just in service itself one
• 50:37
  of his colleagues uh i did something with and he ran at the time the number one Mercedes dealership
• 50:44
  for profit in in the uh the United States it was in San Jose where all the technology companies
• 50:50
  are they sold to auto nation but before that he he realized something when he went home he'd never
• 50:55
  analyze performance of his finance and insurance a department uh F&I is where they make more
• 51:02
  profit than selling you buy your car sky you think everything's good then you go to F&I and somehow
• 51:07
  you walk away with 20 years of protection on your tires and you'll never have to wax again and uh
• 51:14
  and you know it and you're if anything happens to your repository they'll repair it free and all
• 51:20
  kinds of things well that adds more profit than sales but he never looked at performance it turns
• 51:26
  out he had two people in in finance wondering the day and one evenings and weekends the daytime
• 51:32
  person was averaging $1800 of gross profit contribution and the evening was adding 2500 but the
• 51:40
  evening person was only getting access to 35% of the deals just by changing the schedule they made
• 51:48
  another $200,000 a year I mean it's it's very every month excuse me a month it's very interesting
• 51:55
  and and I'll tell you the the greatest story because I love this story I've got many stories and
• 52:00
  they're all real and from you know my very long experience but years ago I used to go to China
• 52:06
  I don't anymore because there's the relationships don't justify it but there was a young man that came
• 52:11
  to one of my programs and it was Q&A after we did it and he asked a very profound question he said
• 52:16
  what do you do if you're too small in the bank won't lend you money to grow I'd say we'll tell
• 52:22
  me more and he said I'm a small local motorcycle manufacturer now only in China where you can have
• 52:27
  a hundred million population city would you be a local motorcycle manufacturer but he said if I
• 52:33
  had the money I'd go all over Asia I'd set up a factory I'd open offices in all the countries
• 52:39
  I recruit dealers I would sell motorcycles everywhere and I said okay well what's the problem
• 52:45
  he thought I was being flipped and and mean he said I toyed it won't get me money to grow I said
• 52:50
  you don't need money and this was very profound I said your problem is always going to be the
• 52:56
  solution to someone else's biggest problem or undervalued opportunity they just may not know it
• 53:03
  you have to find them and show them and I said go all over Asia and find somebody in a in a
• 53:09
  not competitive but a complimentary business that has huge factory they're not using already has
• 53:14
  offices has sales we have dealers but isn't optimizing it and they can deal with them and I gave
• 53:19
  more context in that and I came back about 15 or 18 months later and this guy comes back to the
• 53:24
  Mike and another program and he's smiling like the Cheshire cat and I said what did you do he said
• 53:30
  I do what you said I went all over Asia when I got to Malaysia to Kuala Lumpur I found Asia's
• 53:35
  largest lawnmower manufacturer they had a mass in factory they were under utilizing second shift
• 53:41
  they had offices in ten countries they had a hundred salespeople and thousands of dealers we
• 53:46
  made a deal where all I had to do was bring the tool and dies that are the forms that make the
• 53:52
  parts and assemblies to create a product I had to teach people in the factory how to do it he had
• 53:58
  the factory he provided everything I had to teach the salespeople in all the countries how to
• 54:02
  recruit dealers and teach the dealers how to merchandise and sell motorcycles and he said in our
• 54:07
  first full year of operation we both made twenty million dollars in that profit I mean there's
• 54:13
  so much but it's you've got to learn to think differently than everybody else you compete against
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  offer for 60% off what would be the advice for somebody to land some of these deals or look for
• 56:34
  the best points of leverage that they can take their business across realize this is only one
• 56:41
  what little tangential area of my body of work but I'll be happy to answer it you start by saying
• 56:47
  who else sells something okay what else do people buy before during after and instead
• 56:55
  why instead because if you spent the money let's say that you had scots weight loss supplement
• 57:02
  company okay and you spent the money with advertising or trade shows to get a lot of prospects but
• 57:09
  you only got a fraction that bought everyone of those prospects is going to still be seeking some
• 57:16
  way to lose weight or to get healthier fit if you partnered and you could do two ways a two way
• 57:22
  valve you partner with other people that have alternative ways whether it's equipment whether it's
• 57:27
  it's online virtual training whether it's whether it's portion control food then you're basically just
• 57:37
  optimizing the sunk cost investment or you bring those to your audience because most people in
• 57:43
  this hypothetical who would take a supplement do it for three or four months they don't change
• 57:47
  their nutrition you know change their exercise they're still fat looking for a new drug and they
• 57:52
  go somewhere else and somewhere else you can optimize that who's already selling whatever people buy
• 57:58
  before during after instead the next is who is already selling or impacting or has the trust
• 58:07
  of the same decision maker so if you just ask those questions what else do they buy what else
• 58:15
  who do they else do they turn to that answer will give you more deal possibilities and then you
• 58:20
  give you have to be a little more enlightened because you can go external internal or both external
• 58:25
  means you take your company's product of service to all kinds of other collaborations that have
• 58:31
  access to the audience you want internal means you take all kinds of other product services to
• 58:37
  your audience because you have a sunk cost in that relationship you perform due diligence you make
• 58:42
  sure it's it's qualitatively up to the you know the ethical and the and the qualitative criteria you
• 58:51
  want and you introduce that and I've I've transformed people's people's business a good example
• 58:57
  years and years ago and I'm going back in time I had the first company in Australia that had
• 59:02
  that sold CRM systems and it was very early and they were very expensive and they were spending
• 59:08
  $100,000 literally on trade advertising and they were getting about a thousand leads and they
• 59:14
  were closing 3% but it was a very expensive system so it was profitable enough they just kept on
• 59:20
  that kind of a treadmill and I said well look you're wasting $97,000 of your $100,000 investment
• 59:28
  every month on people that don't buy and I said it's not a sexy proposition so most probably a lot
• 59:33
  of the people that don't buy really want the benefit it's just yours is too expensive or too many
• 59:38
  bells and whistles or not good financing or too technical whatever it is why don't we find a lesser
• 59:46
  entry-level company that has a good product but can't market where the darn doesn't have the
• 59:51
  budget get either the rights to it or are a private label and give them a royalty and make that
• 59:57
  our down sell we did and they started making many many times more from the people they originally
• 1:00:03
  did not sell than from the ones they originally sold and the ones they originally sold became
• 1:00:08
  old profit it's just thinking differently Scott yeah and it's also again it's choosing the path
• 1:00:14
  of of least resistance because I think that people business owners they always feel like they have
• 1:00:19
  to innovate and come up with new products products it serve your audience are already out there
• 1:00:23
  and I think that's probably one of the look again just mindset shifts if people can wrap their head
• 1:00:28
  around that to your point it's it's geometric growth it's it's it's a hugely leverageable asset
• 1:00:35
  as opposed to this linear growth that everybody sort of pursues good no I'm just going to say that
• 1:00:39
  if you take the one of the things that I try to get people to do is realize there's so many
• 1:00:45
  realities going on in your life anybody that's listening unless they're living in a cave have
• 1:00:51
  traveled somewhat they've traveled outside their city they've traveled outside their state maybe
• 1:00:56
  they've traveled outside of their continent and each time you do it you see an enormous spectrum of
• 1:01:03
  things that are not that are not similar here you see different topography geography
• 1:01:10
  religion food climate religious moors or lack and it expands your worldview you need to do that in
• 1:01:18
  business you need to travel constantly outside of what you do when we did seminars this was fascinating
• 1:01:24
  we would have a thousand people for five days so I would go to the bookstores when we had bookstores
• 1:01:28
  and buy as many non nonfiction books and magazines as I could and I would figure out after two or
• 1:01:36
  three days what rocked you so I'll ask you a question do you have a hobby Scott I like
• 1:01:43
  Jimmy I like I like playing hockey that's I've always enjoyed that if you said that to me at this
• 1:01:49
  in this scenario I would give you a book or a magazine on either cake decorating or micro or
• 1:01:55
  macromay and I make you read two chapters or two articles and come back two hours later and find
• 1:02:01
  one insight that you'd never thought of that had adaptability to your business and everybody did
• 1:02:06
  that but most people that they they are self contained and constrained by only wanting to to live in
• 1:02:14
  the world they live in and dis acknowledging that that's only one little microcosm of the world
• 1:02:21
  as it exists and the more you learn at a level that your competitors don't the more I mean
• 1:02:27
  see I believe that people accept if it's fascinating people think they have no control on a lot of
• 1:02:31
  variables we talked earlier it's a longer story I can show anybody have they're going to sell their
• 1:02:36
  business how to how to multiply the multiple it'll be sold for at the at the end of a period of time
• 1:02:42
  but most people don't think they have control of anything you have so much more control because most
• 1:02:50
  people accept business being an equal playing field if you if you refuse to do that and you say
• 1:02:57
  I want to have every ethical advantage I can I'll give you one more perspective here I'm going to
• 1:03:04
  have an ADD intervention on myself in a minute but there is a fallacy Scott in the belief that best
• 1:03:11
  practices is something that is great it it's very good but let me tell you what happens if you're
• 1:03:18
  one of the first people early in the game to gain a best practice advantage that lasts for a few
• 1:03:25
  weeks months until everybody gets it everyone does it then if everyone's doing it's not a best
• 1:03:31
  practice it's a standard operating procedure and gives you no advantage although it could give you
• 1:03:36
  you know greater cost or quality and that gets passed on or not but everyone's doing it so it
• 1:03:42
  gives you no advantage if you understand things nobody else does and you had a harness capitalized on
• 1:03:47
  them that's advantage and you don't have to play the game of competitive business on an equal
• 1:03:53
  playing field but I think most people their idea of competing is more grit or more or money thrown at it
• 1:04:02
  we talked about geometric grows we've talked about sort of business optimization pre-eminence these
• 1:04:07
  are ideas that you've had for for years and years now these have been what interests you now with
• 1:04:13
  business you spoke about increasing valuation multiples there's a couple different things that
• 1:04:18
  are sort of newer we have a brand new thesis that I've been working on for the last couple of
• 1:04:24
  months I've done research on it a lot and I'm caught it's got I haven't said I mean I I work on
• 1:04:30
  things for a long time for I figure it all out but what I'm calling it binary breakthrough
• 1:04:34
  exponential business growth and the summary is it's it's the ultimate hyper growth business
• 1:04:41
  playbook and it's a it's a dual it's a dual track way to Mac to blow up any business safely
• 1:04:48
  it starts with the first the first level and it basically says you identify all the the leverage
• 1:04:56
  points in your business and there I focus on revenue generation but it has total application
• 1:05:02
  operations and distribution and all the other things and you basically commit to increase every
• 1:05:08
  one of them improve every one of them a mere 10 to 15 percent because just by doing all of them
• 1:05:14
  not a few of them but all of them in first of all you can't do all of them if you don't recognize
• 1:05:19
  as I said the nuclear interrelated OPIs which are the overlook performance indicators not just the
• 1:05:26
  KPIs then that alone will give you exponential growth and that exponential growth is so safe and so
• 1:05:32
  uh it's so result certain not possible or probable but certain and now you've got the the
• 1:05:40
  the watch has that you don't have to divert from cash low or borrowing to do what I call the big
• 1:05:45
  idea game changing shifts that either bring a new a new way of doing something to your market or
• 1:05:53
  an extended version of doing it I mean I'll give you and by the way I'll give you a very fascinating
• 1:06:00
  jaber him in is him here everyone talks about innovation but they they tend to define it in terms
• 1:06:07
  of technological drivers you need AI you need that and it's wonderful I mean I use chat GPT
• 1:06:13
  nowhere close to what I could because I'm not a very sophisticated technological person but all
• 1:06:18
  innovation really needs to be is the ability to bring greater value benefit advantage protection
• 1:06:24
  enhancement or enrichment or entertainment to a market in a way that they perceive it they see
• 1:06:31
  the just the decisive difference between what you're offering them and everyone else and they
• 1:06:36
  want to take advantage of it I mean we have a uh just an example I have a a immigration attorney
• 1:06:43
  in uh Florida that we doubled them from 10 million to 20 million in one year by just being more
• 1:06:50
  innovative in in friction point sensitivity of their audience most of their audience have them
• 1:06:56
  don't have cars half of them have big families they can't come during the day because they're
• 1:07:02
  you know they're working like mad trying to make a living whether you like uh you know immigrants
• 1:07:08
  in need green cards are not it's a niche and if you want to bring them uh an innovative advantage
• 1:07:14
  we started picking them up and and uh taking them home after hours we started having classes for
• 1:07:20
  their kids we did we started teaching their kids English we made weekends and Sundays available
• 1:07:26
  we fed them and we did things that were very non-technological but we doubled our our value and
• 1:07:33
  our our revenue so I mean it's just all kinds of ways you can take this up and down that the uh
• 1:07:38
  the arc of sophistication it still works what do you think blinds business leaders to those
• 1:07:45
  opportunities for growth in their own business uh part of it is what we talked about in the beginning
• 1:07:50
  there is a there is a particularly the right word I want to say dirt that may not be the right word
• 1:07:56
  there's such an over abundance of one trick pony experts who are almost screaming that they're
• 1:08:04
  one tactical enhancement is going to transform a business that I think people buy into it I
• 1:08:11
  tend to be more holistic and want to basically work on the whole system just like if you say I
• 1:08:16
  want to keep your body going well if I mean they're specialists and that's what they are but if you
• 1:08:21
  wanted to really go you start by having uh you know your GP basically he or she studies every
• 1:08:29
  system that interrelates your respiratory system your neurological system your your gastronomical
• 1:08:36
  system your you know all the systems and I don't think most people I mean big corporations do it
• 1:08:43
  but entrepreneurs which are really I tend to concentrate on very low five or 10 million and
• 1:08:49
  very high a hundred and 150 I don't do big corporations because I'm not I I'm not good in in a in a
• 1:08:57
  board room or with with the very structured type of a market but when entrepreneurs who are the
• 1:09:02
  decision makers first thing we try to do is let's say look all these things affect one another
• 1:09:09
  it's not one thing I mean it there are great I mean so but it also give you one more thing that I
• 1:09:13
  realize and this is you might not ask this but it's another distinction that I worked on for a
• 1:09:18
  long time I got started and everyone thought of me as a marketing whatever you want to call it
• 1:09:23
  wizard and an advertising and promotion and I was but I came to a realization about 10 years ago
• 1:09:31
  that was very profound that as great as marketing sales all these things are to
• 1:09:38
  initiating business they are diminishing resources you know advertising wears out media changes
• 1:09:47
  costs you have no control of the top salesperson and could be hired away retire go to work for
• 1:09:53
  the competitor or start his or her own business but if you have a superior strategy if you have a much
• 1:09:59
  more superb business model if you have better distribution channels if you have a lot of
• 1:10:07
  of very prominent iconic people advocating for you to their audiences if you have a much more
• 1:10:15
  preemptive advantage or monopolistic advantage or optimally a exponential advantage and if you're
• 1:10:22
  masterful at reclaiming some cost and transforming them into revenue streams now you've got the
• 1:10:31
  advantages to compete and run circles around people and and I tried teaching that but shifts like
• 1:10:38
  that are hard for entrepreneurs if they don't have a lot of infrastructure it's hard for people who
• 1:10:44
  are rigid to a belief system a lot of times I am penalized and this is fascinating I've been exposed
• 1:10:51
  to some of the most sophisticated experts in the world I've been exposed to some of the most
• 1:10:56
  interesting industries in the world and I've done on five continents but I'm able in a way today
• 1:11:03
  I might be too ADD for you but I'm able to take very sophisticated understandings and torque them
• 1:11:10
  down and translate them into this so elegant simple explanations that people discount them because
• 1:11:17
  they sound too obvious so I think that the way that you create your work and the way that you
• 1:11:22
  structure your ideas that's the way that more for lack of a better term thought leaders that have
• 1:11:28
  experienced should structure their ideas because it's digestible it's easy to understand
• 1:11:31
  and it's practical and it also is holistic which I think is the it's the x factor that you bring
• 1:11:36
  to the table which I see not a lot of people bring to the table in the world of social media where
• 1:11:41
  everybody says that my way is the only way that's going to work it brainwashes people into almost
• 1:11:46
  this this zealotry of of how to build something or how to do something and I think it's actually
• 1:11:53
  quite toxic and I think that it actually hurts more than helps when you put out content or teach
• 1:12:00
  or create an audience basically saying that the way that I've done this is the only way that
• 1:12:06
  it can ever be done and it's sort of further propagates that kind of thinking that you're that
• 1:12:11
  you're discussing about these one trick ponies and those one trick ponies each other entrepreneurs
• 1:12:16
  be one trick ponies and they miss out on so much opportunity and it's sad and I don't like that
• 1:12:21
  the worst part is if it works because then it reinforces a self limiting and delusional belief
• 1:12:30
  and you'll never really grow to your fullest potential I don't believe that everyone on the
• 1:12:35
  internet is malicious but it's almost and there definitely are some but that's not the point the
• 1:12:40
  point is the ones that aren't malicious who have only like to your point of only achieve success by
• 1:12:44
  doing one thing well that's all they know because they've only been doing it for five years 10
• 1:12:51
  years max and that's what they're teaching everybody who who is the majority of people who are
• 1:12:57
  are thought leaders on on the internet on social media they're all very young because they've
• 1:13:03
  understand they've understood how to market that is a crack there yeah and and you've got to acknowledge
• 1:13:09
  that but you know I learned from people that were a very very elevated uh their ethos and their
• 1:13:19
  their their their ethical compass and their and their integrity was very very lofty and they
• 1:13:26
  taught me that it's almost uh the if you go back to the medical axiom I always say the wrong word
• 1:13:32
  it's the hypokratic oath where you do thine patient no harm I don't believe a lot of young people
• 1:13:44
  realize the harm they do we have a couple of things we used to sell and they were designed for
• 1:13:50
  entrepreneurs to help them grow their real businesses but I accidentally created what I'll call
• 1:13:58
  business opportunity propositions and when I realized that we stopped literally when I realized
• 1:14:05
  that we had one that made four million dollars profit the first year and when I analyzed the
• 1:14:09
  people buying it they weren't the market I want and I didn't want it on my conscience that I was
• 1:14:15
  over over uh over inspiring people to believe they had this infinite ability to do things that
• 1:14:23
  really the vast majority couldn't wouldn't unless they had a vehicle to do it in and I think
• 1:14:30
  there are a lot of people out there that don't understand the consequence I'll tell you one of
• 1:14:34
  the most horrible things that happened to me early in my career and it had an indelible impression
• 1:14:40
  one of the jobs I have was selling radio advertising and I was young I was maybe 22 and I was selling it
• 1:14:48
  for a very successful radio station but my my list were all the people who were independent little
• 1:14:55
  businesses who've never advertised and they didn't have an agency and my job was to inspire and
• 1:15:03
  compel them to want to interest us to grow their business and I was a deluded optimist and I
• 1:15:09
  really believed our business had that ability our radio station and I could persuade people who'd
• 1:15:15
  never been on radio to interest two thousand three thousand five thousand dollars and this is
• 1:15:22
  40 years because that was a lot of money for the little little companies and then we had at our
• 1:15:26
  agency or we had in our radio station a man whose claim to fame was that he could write a
• 1:15:34
  60 second commercial in 60 seconds and it was a piece of crap but I was too young to realize
• 1:15:41
  what an unconscionable I would call it like a terrible terrible what would I use as the right word
• 1:15:52
  a terrible negative I had done to these people because people entrusted me to have the power to
• 1:15:59
  help transform their business and when it didn't they were forever turned off for radio because
• 1:16:05
  we didn't have somebody that understood the same things we're talking about and this goes I mean
• 1:16:09
  go deep into how you know how to create copy that multiplies because you can change one of nine
• 1:16:16
  variables in in an ad or a sales script or an email or a landing page or or what you say at a
• 1:16:25
  trade show and you can double redouble redouble again the result we tested one time Scott 33
• 1:16:32
  ways of greeting somebody at the front door of a very large furniture store and we tripled not
• 1:16:37
  only conversions buyers but we got the Aaron sale up and most people don't know that and going
• 1:16:42
  back to my story that man through the vessel of Jay Abraham deluded optimists believing that I
• 1:16:49
  had the omnipotent power with my one trick pony radio station of transforming the the revenue of
• 1:16:57
  these small entrepreneurs managed to destroy three to five thousand dollars of their very precious
• 1:17:04
  commodity but were still they never would trust radio again which was tragic because the right
• 1:17:10
  the right copy on the right station with the right strategy could be very very very profitable but
• 1:17:17
  I ruined them and I think think of a lot of these these influencers the same way
• 1:17:23
  yeah I mean that's kind of that's what you're alluding to before if it's not the fit
• 1:17:28
  or you can't deliver what the customer actually needs then that's when you that's when you
• 1:17:34
  that's when you have to point them in the right direction right that's it's that's being
• 1:17:39
  preeminent and what happens when you are you don't look every dollar but you really like yourself
• 1:17:45
  because you're you're living in total integrity and and what happens is when you do that even if you
• 1:17:52
  lose the maximum or even the entire sale when you go back to somebody you know they're they're great
• 1:17:59
  even when somebody when somebody but I have clients if somebody contacts them and it's evident
• 1:18:04
  that they're not going to purchase now but the reason is not that they think my clients product or
• 1:18:11
  service isn't really superb it's just that they can't come to alignment on the on the on the
• 1:18:16
  it's too much or too expensive or too whatever I instruct all my clients sales people to
• 1:18:23
  first of all thank them profoundly or profusely whatever their word would be and then say look
• 1:18:28
  we hope that the choice you make is great one but always feel free to recommend anyone you know
• 1:18:34
  who would benefit from what we offer and the price and and and and the sophistication we always
• 1:18:41
  we never we never go like screw you hang out you're you're you're terrible for not buying from us we
• 1:18:47
  always play a long game and many many many maybe not big corporations but a lot of entrepreneurs play
• 1:18:54
  as a tremendously I guess I would call a brevity type of a short game and it makes no sense because
• 1:19:04
  you're going to need business tomorrow as much if not more than today and next year and next year
• 1:19:09
  and if you basically if you set everybody up to have such favorable predisposition win lose or draw
• 1:19:17
  in whatever transaction you have now well I'm sorry one of the other things about pre-eminence
• 1:19:22
  and it's profound is you don't wait to for money to change hands before you start investing
• 1:19:30
  in the other side you don't wait till I buy from you before you start educating me advising me
• 1:19:36
  sharing not just superficial stuff but stuff that'll make me a believer I think I told you
• 1:19:42
  we're getting ready to put up a 768 page research dossier on how to engineer big ideas we're
• 1:19:50
  going to put up a 220 page dossier on all the 100 or so things that I'm able to focus on that most
• 1:19:58
  people don't don't think I put out more the stuff that we used to give away we gave 800 resources
• 1:20:06
  away for 10 years and didn't even ask for an opt-in because I wanted to be a better I wanted to
• 1:20:12
  be a better factor in one of my conscience that I was teasing people and I think a lot of people
• 1:20:19
  don't understand that you can operate here and it's it's you know it's very congested world
• 1:20:27
  of very formidable but but commodity type competition or you can choose to operate here
• 1:20:39
  and verify it and it's exhilarating and it's positively intoxicating and and you're in control
• 1:20:45
  you can hear it command and control instead of being control it's because that bar for good
• 1:20:51
  business and for giving as much value and then some is so low so think about your day-to-day
• 1:20:59
  interactions with just people that you buy products from it's it's never that positive so the
• 1:21:05
  bar is so low for anybody who wants to stand out yeah it's very interesting I kind of remember
• 1:21:11
  because I had something I was thinking about today that I thought if they just did this one more
• 1:21:19
  action after they interacted with me I would be so much more inclined
• 1:21:26
  in in a few months and I can't remember what it was but it's fascinating and and you see it you
• 1:21:31
  see a lot all over we do we have a pretty big house and I have a beach house also so we use
• 1:21:36
  trade people and it's fascinating because they rarely call you back on time they rarely make
• 1:21:43
  their proposals on time they don't follow up and you think if you only did those things in a
• 1:21:50
  systematic strategic way all things being equal and assuming you had the dis one and the capacity
• 1:21:57
  and the and the and the ability to do all the jobs you'd get you'd probably double redouble your
• 1:22:04
  business just by doing that see I struggle and hurt I think if you're going to invest a day a
• 1:22:10
  minute of time a dollar at opportunity why would you want to get the least out of it if the same
• 1:22:16
  ever less time or less could give you so much more now but even more compounding strategically
• 1:22:23
  later if you play a different game but a lot of people that see issue a lot of people don't play
• 1:22:29
  those games that's that is the and and more people have to if you're listening to this I mean
• 1:22:34
  this is this is the strategy to stand out this is the strategy to be different and
• 1:22:40
  I think that people humans are inherently lazy they want to do the bare minimum but it's fabulous
• 1:22:49
  what happens when you don't just do the bare minimum I think that at the onset it seems daunting
• 1:22:54
  it seems like oh my goodness you know business is hard enough how can I always go the extra mile
• 1:23:00
  which is really what this is but you know think about the biggest companies in the world think
• 1:23:05
  about true enterprise value created not just a hobby business true enterprise value created
• 1:23:12
  the ones that stick around always have to go the extra mile that's how they stand out because
• 1:23:16
  there really isn't any companies that I can think of that don't go above and beyond as much
• 1:23:23
  as humanly possible that are still around and are still pleasures to deal I forget about I mean
• 1:23:28
  yeah maybe you don't love your cell phone company or something like that but the companies that
• 1:23:34
  are are growing at like sort of the speed of like the trillion dollar valuations they're doing
• 1:23:38
  things that no other companies do yeah no they absolutely and and when you play that game once you
• 1:23:46
  transition to that level I mean it's it's just it's so much I don't know about you I think you're
• 1:23:54
  this way because we've had some really wonderful conversations I can't admit I mean I know a lot of
• 1:24:00
  people go to events and I'll see a lot of my I call them a contemporary and I'm not part of me
• 1:24:06
  demeaning anybody but it's literally somebody who they're very good at mart they'll spend a lot of
• 1:24:13
  time on their on their on their digital marketing so I give them credit for that but they don't
• 1:24:19
  really spend a lot of time trying to grow and develop their their you know their capacity to
• 1:24:27
  contribute before we wrap up you know we've gone through a lot of sort of the old ideas some of
• 1:24:33
  the new as well what would be some last words of wisdom some last insight that you want to leave
• 1:24:38
  the audience with well it's it's it I wish I could say I'm an original thinker I will say I'm
• 1:24:47
  an original synthesizer that have been able to take uh filaments from uh lots of very very much
• 1:24:54
  brighter people and weave them into the fabric of what I stand for but I think what I stand for
• 1:25:00
  is not being content to be average or even above average but to go for being preeminent I think
• 1:25:07
  it's you should always work on the geometry of your business I think it is that uh if you're going
• 1:25:14
  to invest your life in an entity that you're depending on uh for fulfillment in income
• 1:25:23
  satisfaction wealth creation uh quality of life that you better think through whether you're
• 1:25:31
  getting it I always say if you can't tell me Scott what do you and your business stand for
• 1:25:39
  why do you stand for it who do you stand for what does standing for it mean in all senses not
• 1:25:45
  just external but internally what you're getting at it what you're giving and what and how you
• 1:25:50
  validate and verify that you are really manifesting that and getting positive uh uh validation if
• 1:25:59
  you don't know that you'll never get it and a lot of people don't really I mean there's a very
• 1:26:04
  tragic uh and this might be interesting and I'll give you a really wonderful quote that somebody
• 1:26:10
  else gave me that I love to end with uh there's a piece of research it's not the quote 95% of all
• 1:26:16
  entrepreneurs never reach their goals and the reason is they really don't have reverse engineer
• 1:26:21
  very high correlated goals they don't know exactly what has to happen by category by advertising
• 1:26:30
  vehicle by product line by salespeople at certain intervals to get to a certain compound growth
• 1:26:37
  they just have their goals I want to make a million dollars or I want to be able to sell it for
• 1:26:41
  20 million dollars or I want to be able to uh uh you know to have it uh keep growing at 10% and
• 1:26:47
  and the demands they put on themselves while it seems stressful today are really very modest
• 1:26:55
  the quote is most entrepreneurs maybe not CEOs if it's a large corporation but they struggle non
• 1:27:02
  verbally with the wrong question this is a tormenting haunting question but they don't really say
• 1:27:08
  it it's just always bouncing around and the question is am I worthy of this goal do I really have
• 1:27:14
  the capability of keeping this business going for the next 20 years do I really have the ability to
• 1:27:19
  compete against the larger or the more technologically sophisticated do I really have the ability
• 1:27:26
  to keep this business going to where I can exit for a huge uh payday when you realize how much more
• 1:27:34
  is possible from time effort access investment capital human capital intellectual capital relational
• 1:27:45
  capital the right question is not am I worthy of the goal it's the opposite is this goal worthy
• 1:27:53
  of me and I think that's a profound conclusion amazing I want people to go explore your work I want
• 1:28:01
  people to dis consume I I have decks from you that I'm going to link in the show notes if there's
• 1:28:06
  others you can give them it's I'm I'm very generous you can you're gonna say where where else should
• 1:28:11
  people go yeah well I mean if we we're in the I have a I have a website and it's been around for
• 1:28:18
  too long and we're redoing it but you can go there it's got stuff but uh if they if they want to
• 1:28:24
  go to you I'll give you stuff you can put on your site they can go to my site if they're large
• 1:28:28
  enough I'm always interested in understanding and exploring with them they can go to my name Jay
• 1:28:34
  ay at Abraham.com but there's stuff on our and I really and truly everybody and their brother
• 1:28:39
  has knocked off my work you could probably put my name in and find a hundred people who are who are
• 1:28:46
  unlawfully you know using my work there's a lot of stuff on YouTube I've got some really cool I mean
• 1:28:53
  I've done lots of things like this and usually they're eclectic because they ask me interesting
• 1:28:58
  question and I go a little bit rogue on them but yeah and I'm and you know if they if they you know
• 1:29:05
  we've got a lot of things that I think are readily available I haven't looked because I was
• 1:29:10
  going to say this and I didn't when I was giving away 800 resources some of them were programs that
• 1:29:17
  we we had sold for five thousand dollars and all I ask was I don't care if you don't give me your your
• 1:29:24
  email or opt-in all I ask is share it with at least 10 people which I thought was a very simple
• 1:29:30
  request and nobody did they were selfish so I took them off because they didn't get what I was
• 1:29:35
  all about if that makes sense and I'd stop doing this will tell some good ones up there and I'll get
• 1:29:41
  we have a secret file I think that's nestled and it's got 50 or we call it 50 shades of J and it's
• 1:29:48
  still up somewhere I will find where what the link is and give it to you because it's got some
• 1:29:54
  really cool stuff from the past and then and I'll give you some stuff you can put on your site I
• 1:29:58
  got books I got I mean any of my keynotes I never do the same keynote twice so they're very
• 1:30:04
  interesting so that's okay so that's the call to action that's the gentleman's agreement so if
• 1:30:09
  you download this stuff share it with at least 10 people that's all you got to do that's it yeah
• 1:30:15
  that's it I'll make me happy I mean I mean a legacy of my age I mean I like deals that are
• 1:30:20
  lucrative and I love counseling and being somebody's masterful thinking it you know partner and
• 1:30:25
  their strategist and their you know and their profit multiplier but I also am very benevolent and
• 1:30:31
  a lot of people are selfish one of the things with people are too busy and self-consumed to what
• 1:30:38
  really to contribute to others the way and that's really sad to me yeah I think that listen there's
• 1:30:44
  some good ones out there hopefully there's some good ones that are listening to this podcast that
• 1:30:48
  that take this information and pass it on I you tolerated my wildly eclectic styles and thank you
• 1:30:54
  I like your style it's good it's very good that's the best kind of style I don't like the scripted
• 1:30:59
  stuff you get the real you get the real information when you dive into stuff that the person actually
• 1:31:05
  cares about and that's what I wanted to do so I'm happy I'm very very happy thank you I can't do
• 1:31:09
  that thank you so much no it's my pleasure it's my absolute pleasure so I'll link everything below
• 1:31:14
  we have a ton of links for for everyone listening if you like if you like Jay then obviously
• 1:31:19
  go check him out go to his website that'll be in the show notes as well last last question I
• 1:31:24
  always like to ask because it's different a little bit of a different take about a incredible
• 1:31:28
  career worked with some of the most incredible people on earth if you had to pass only one
• 1:31:34
  lesson on to your kids what would that lesson be that's really a great question I always wanted
• 1:31:46
  my children and I have a lot of them have seven I always want them to be I didn't care if they
• 1:31:54
  loved me or hated me I wanted them to be great human beings and add value to society and and have
• 1:32:03
  great respect for everyone and realize that there's nobody the other few exceptions some very
• 1:32:09
  bad players in the world but the vast majority it doesn't matter they're they're socio economic
• 1:32:15
  sophistication or or or or lack everybody with little exception deserves to be treated with
• 1:32:24
  dignity relevancy significant and and and there's one other word and that is respect and I always
• 1:32:34
  tried to do that to my children and they turned out quality children some are very successful some are
• 1:32:40
  just you know they're happy doing what they're doing but they're good human beings and I always
• 1:32:44
  want to know that when I leave this earth I've left the world better off because I was in it because
• 1:32:51
  if I haven't then I've sucked oxygen out of it and that's not what I wanted my life to be and
• 1:32:57
  it's not what I want the children that I brought into the world and all future children they do