Latest / What is Business Development? / Episode 67: BD Book...Top 3 Tactics from Dr. Villy Abraham's new book "LEVERS"

Transcript

Episode 67: BD Book...Top 3 Tactics from Dr. Villy Abraham's new book "LEVERS" · What is Business Development?

• 0:03
  Speaker 1: Welcome to the Business Development podcast, brought to you by
• 0:06
  Speaker 1: the Global Business Development Association, delivering the strategies and tactics
• 0:11
  Speaker 1: to boost your career and corporate growth.
• 0:18
  Speaker 2: Hello BD Pros, and welcome to the podcast called What
• 0:24
  Speaker 2: Is Business Development? Brought to you by the Global Business
• 0:29
  Speaker 2: Development Association. And today, wouldn't you wish life could be
• 0:35
  Speaker 2: a little bit easier as a business developer? As an
• 0:38
  Speaker 2: entrepreneur building your business, scaling your operations and growing exponentially.
• 0:43
  Speaker 2: Wouldn't that be great if you could just find those
• 0:46
  Speaker 2: magic levers to pull and grow your business with a
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  Speaker 2: lot less effort. Well, today we're going to talk about
• 0:54
  Speaker 2: that with doctor Villi Abraham. And doctor Abraham is a
• 0:59
  Speaker 2: fantastic guest who's been on this show before with us
• 1:04
  Speaker 2: and we talked about his previous book, but today we're
• 1:08
  Speaker 2: going to talk about his latest book. And doctor Abraham
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  Speaker 2: is an expert in consumer psychology. He's a professor of
• 1:18
  Speaker 2: marketing with over twenty years of experience, specializing in helping
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  Speaker 2: individuals and businesses unlock their full potential. He does that
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  Speaker 2: through one on one mentoring, dynamic keynotes, webinars and seminars,
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  Speaker 2: and he delivers actionable insights that drive measurable results, and folks,
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  Speaker 2: I read his latest book called Levers Multiply your revenue
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  Speaker 2: and scale with less effort, and just as his background suggests,
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  Speaker 2: it is packed with measurable results and tactics that you
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  Speaker 2: can use to achieve those measurable results. And these have
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  Speaker 2: been tested and proven with existing clients over ten thousand
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  Speaker 2: businesses over one thousand plus industries. You'll learn how to
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  Speaker 2: escape the hustle trap and unlock scalable growth without more grind.
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  Speaker 2: You'll online product pricing and position to trigger automatic profit lifts,
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  Speaker 2: turn bottlenecks into multipliers instead of roadblocks. You'll apply growth
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  Speaker 2: models used by the world's most profitable companies, install reinforcing
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  Speaker 2: systems that compound even when you're not working, and you'll
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  Speaker 2: be able to take action instantly with step by step
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  Speaker 2: exercises at the end of every chapter. Now, folks, I
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  Speaker 2: know that sounds like a lot. We're going to try
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  Speaker 2: and cover that today in a very short period of
• 2:50
  Speaker 2: time with our guest who's back with us on the show,
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  Speaker 2: Doctor Billy Abraham. Billy, Welcome to the show.
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  Speaker 3: Thank you, Tony. It's great to be here.
• 3:01
  Speaker 2: Great to have you back.
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  Speaker 4: Philly.
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  Speaker 2: So I know we previously discussed on a prior podcast.
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  Speaker 2: You know, your prior book that I really enjoyed, and folks,
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  Speaker 2: you can go back to our previous podcast. And the
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  Speaker 2: book that Villy previously wrote is called The Wonder Drug
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  Speaker 2: of Business Growth from Stalled sales to self sustaining growth
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  Speaker 2: powered by your clients. And so that's a fantastic book.
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  Speaker 2: We'll have a link to that prior episode in the
• 3:40
  Speaker 2: show notes. But today we're going to talk about his
• 3:44
  Speaker 2: latest book called Levers Multiply Revenue and Scale with Less Effort. So, Billy,
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  Speaker 2: what drove you to write this book, this second book
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  Speaker 2: of yours.
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  Speaker 3: Well, my co author is Jay Abraham, and most of
• 4:00
  Speaker 3: the material on which I based the book. We wrote
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  Speaker 3: it together, is on Jay's experience working, as you mentioned,
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  Speaker 3: with over ten thousand clients in one thousand industries, and
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  Speaker 3: the experience that I have gathered over the last twenty years.
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  Speaker 3: So we packed both of our experience and we decided
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  Speaker 3: to give it a unique perspective. Because what we did
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  Speaker 3: in this book is we took the industry experience that
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  Speaker 3: Jay has and he has over fifty years of experience,
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  Speaker 3: we combined it with the experience that I have, but
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  Speaker 3: we looked at it through the lens of science, and
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  Speaker 3: we gave scientific backing to practically each one of the
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  Speaker 3: levers that we mentioned and will go in depth. You know,
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  Speaker 3: there are tangible levers and intangible levers, and we just
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  Speaker 3: felt that too many entrepreneurs, business founders, business owners, etc.
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  Speaker 3: Are working harder rather than smarter, working in the business
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  Speaker 3: rather than on the business. And we wanted to make
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  Speaker 3: this transformation because we want people to use the technologies
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  Speaker 3: that we have today. We have so many AI agents,
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  Speaker 3: so many technologies that can do the mundane stuff, and
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  Speaker 3: instead of you focusing on the day to day stuff
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  Speaker 3: that technology can do, focus on the big picture, on
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  Speaker 3: forming joint ventures, partnerships, and looking at strategies. The first
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  Speaker 3: book that you mentioned, the one The Drug for Business Growth,
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  Speaker 3: focuses on one particular lever referrals, but there are many many,
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  Speaker 3: There are dozens of referrals.
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  Speaker 4: So we wanted to.
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  Speaker 3: Launch this book to provide a broader perspective on the
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  Speaker 3: expansive tools at your disposal.
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  Speaker 2: Yeah. I love that. And just like in your first book,
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  Speaker 2: your emphasis on not only basing your tactics and your
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  Speaker 2: recommendations on extensive client engagements, over ten thousand client engagements,
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  Speaker 2: but also principles of science, and of course, your book
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  Speaker 2: talks about the very basic principle the physics of a fulcrum,
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  Speaker 2: a lever where you can pull on one end and
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  Speaker 2: with relatively little effort you can move a massive object
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  Speaker 2: on the other end. So let's dig into some of
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  Speaker 2: the scientific principles in your book and talk about the
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  Speaker 2: kind of the top three main takeaways from the book.
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  Speaker 2: And again, folks, there's so much packed in here, Villy
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  Speaker 2: and I could probably spend hours on this podcast going
• 6:46
  Speaker 2: into the details because I gave the book a five
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  Speaker 2: star review when I read through it, because it's exactly
• 6:51
  Speaker 2: what business developers need, what entrepreneurs need. Each page, I
• 6:56
  Speaker 2: told Billy previously, I said, reading through this, I practically
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  Speaker 2: highlighted it repage in the book, so it may as
• 7:03
  Speaker 2: well just be colored yellow. All the pages must be
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  Speaker 2: are just covered yellow right now, So Billy, let's let's
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  Speaker 2: jump into the number one key takeaway here.
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  Speaker 4: All right.
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  Speaker 3: So in the book, we focus on three major categories
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  Speaker 3: of levers. So there's the revenue lever. I'll go in
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  Speaker 3: depth into each one. The second one is called the
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  Speaker 3: optimization lever, and many times it's overlooked and even neglected.
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  Speaker 3: And the third one is called the multiplication lever. Now
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  Speaker 3: it's important to understand that there are, uh there are
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  Speaker 3: if we take if we zoom out for a second,
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  Speaker 3: there are basically two types of levers. There are the
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  Speaker 3: tangible levers and intangible levers. Okay, so tangible levers could be,
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  Speaker 3: you know, anything you can see. So, for example, it
• 7:54
  Speaker 3: could be the way your product looks. It could be
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  Speaker 3: the guarantee that you provide. It could be the book
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  Speaker 3: description or the description of your product, right, anything that
• 8:06
  Speaker 3: could be seen and that is physical. And the intangible
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  Speaker 3: ones are things like technologies. It could be relationships. It
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  Speaker 3: could be anything that is not seen to the naked
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  Speaker 3: eye but is nonetheless a significant lever. And one of
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  Speaker 3: the major levers that is overlooked is relationships. Now, many
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  Speaker 3: times we are we lean towards looking at our marketing
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  Speaker 3: environment as one comprised of many many competitors and rivalries, right,
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  Speaker 3: and we just look at this as if you know,
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  Speaker 3: we're fighting each other and who's going to be number one?
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  Speaker 4: But I think that the right way to look.
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  Speaker 3: At your marketing environment is to see it as an
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  Speaker 3: ecosystem and to see how you can complement each other
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  Speaker 3: in order to be more successful in what you're doing. So,
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  Speaker 3: I think one of the main one of the the
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  Speaker 3: biggest challenges and something that I highly recommend our viewers
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  Speaker 3: to think about is what company, what influencer, what endorser.
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  Speaker 3: It could be an actor, could be a basketball player,
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  Speaker 3: it could be anyone I can join forces with in
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  Speaker 3: order to take advantage of the trust and credibility that
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  Speaker 3: that person has with an audience. To create trust, it's
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  Speaker 3: something that takes years and you can create it in
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  Speaker 3: five minutes by joining forces with the right person. And
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  Speaker 3: that could be the difference between incremental growth. You know,
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  Speaker 3: grinding two percent five percent, exponential growth is thirty plus easily,
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  Speaker 3: and it's and it's done by If you look at
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  Speaker 3: three ways to grow your business, there are three basic
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  Speaker 3: ways to grow your business. So one is generating more clients, right,
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  Speaker 3: that's the most obvious one. The second one is increasing
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  Speaker 3: the purchase frequency, and the third one is increasing the
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  Speaker 3: value of each one of the purchases, right, the transaction value. Now,
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  Speaker 3: if you just increase each one by ten percent, your
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  Speaker 3: revenue does not increase by thirty percent. It increases by
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  Speaker 3: thirty three percent. And it's very simple. Look, if you
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  Speaker 3: have ten clients, generate one more, that's ten percent increase.
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  Speaker 3: If they buy one hundred dollars an average, get them
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  Speaker 3: to buy one hundred and ten. Okay, and instead of
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  Speaker 3: generating ten clients a month, generate eleven clients. And that's
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  Speaker 3: the easiest way to achieve exponential growth. But that's only
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  Speaker 3: with ten percent. If you increase it to twenty percent,
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  Speaker 3: the revenue increase will not be sixty percent, but it
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  Speaker 3: will be seventy two point eight percent. And it's proven
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  Speaker 3: mathematically and scientifically. If you increase it to fifty it's
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  Speaker 3: around two hundred plus. So it's very simple to create
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  Speaker 3: exponential growth. You just have to change your mindset and
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  Speaker 3: think about things differently.
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  Speaker 2: Sure, I love what you said in a couple of
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  Speaker 2: things there, and I just want to unpack them if
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  Speaker 2: I may. You know so, folks, Uh, the key one
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  Speaker 2: key takeaway, and the number one key takeaway is the
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  Speaker 2: revenue lever. And as doctor Abraham said, you have multiple
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  Speaker 2: ways of doing that. Three fundamental ways of increasing revenue.
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  Speaker 2: Increase the number of clients, increase the average amount that
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  Speaker 2: they pay you for products and increase the frequency of
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  Speaker 2: the products that they buy from you. And just with
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  Speaker 2: basic math, you're showing the exponential capability of just pulling
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  Speaker 2: on that lever alone, not the other three that we're
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  Speaker 2: going to talk about, but just this one lever of
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  Speaker 2: revenue alone. And I also liked what you said about
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  Speaker 2: leveraging relationships and not looking at business development as a
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  Speaker 2: zero sum game of you fighting everybody else that's your
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  Speaker 2: competitor and having this scarcity mindset. It's actually to have
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  Speaker 2: this abundance, you know, mindset that's founded in the fundamentals
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  Speaker 2: of trust and shared trust. Yeah, you can take years
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  Speaker 2: to build trust with a prospect or, you can leverage
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  Speaker 2: the trust that's already been built by another potential partner
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  Speaker 2: and in a very short period of time be able
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  Speaker 2: to have that shared mutual trust convey onto you so
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  Speaker 2: that they can become your client. So very powerful elements
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  Speaker 2: here in the first key component here of revenue, which
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  Speaker 2: so many people know this. Yeah, I need to increase revenue.
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  Speaker 4: Great.
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  Speaker 2: Here are the three fundamental fundamental ways to do it.
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  Speaker 2: And by the way, these are the three fundamental ways
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  Speaker 2: that we talk about on page one of the Business
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  Speaker 2: development body of mine. That's how all of this starts,
• 13:02
  Speaker 2: and then it quickly goes into the trust building piece.
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  Speaker 2: So I love how you started off with this key
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  Speaker 2: piece and it just shows everybody this is the first
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  Speaker 2: principle of business development. Now I'm really excited to get
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  Speaker 2: into the second key area here where you're talking about optimization. Billy,
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  Speaker 2: what are we talking about here? I mean, we hear
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  Speaker 2: about it all the time, about optimizing various processes, whether
• 13:24
  Speaker 2: it's pipeline efficiency, pipeline bis velocity. What exactly are you
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  Speaker 2: talking about when you say optimization.
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  Speaker 3: Well, when we talk about optimizations, we're talking about adjustments
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  Speaker 3: and tweaks that you can make to different aspects of
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  Speaker 3: your business management. So, for example, if you look at marketing, right,
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  Speaker 3: so if you just change the copy of your message,
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  Speaker 3: you can change your results.
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  Speaker 4: Right.
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  Speaker 3: Sometimes it's just changing the title of your copy or
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  Speaker 3: just changing one or two words.
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  Speaker 4: It could be changing the picture.
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  Speaker 3: If you look at Netflix, for example, they have thumbnails
• 14:03
  Speaker 3: and they change all the time. And the reason that
• 14:05
  Speaker 3: we see different thumbnails when we access Netflix at different
• 14:08
  Speaker 3: instances is because they're testing. They're optimizing. They're testing to
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  Speaker 3: see what catches your eye. More so, it could be
• 14:17
  Speaker 3: the copy, it could be the price. Okay, sometimes a
• 14:20
  Speaker 3: lower price will bring in more clients, but sometimes counterintuitively,
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  Speaker 3: it will be a higher price because your product will
• 14:28
  Speaker 3: be perceived as more you know, a high, higher quality price. Right.
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  Speaker 3: So optimization is basically focusing on what we call a
• 14:40
  Speaker 3: B testing. And I can give you an example of
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  Speaker 3: what I did with my most recent book that I've.
• 14:46
  Speaker 4: Co authored with Jay Okay.
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  Speaker 3: And I think this would be a great case study
• 14:50
  Speaker 3: for people to learn with. So we launched a book, right,
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  Speaker 3: and I wait a few days to see how what
• 14:57
  Speaker 3: happens with conversions because we had Amazon ads, all right,
• 15:01
  Speaker 3: So I see that the cover is good because I
• 15:04
  Speaker 3: got feedback, and I see that that's something that is
• 15:07
  Speaker 3: not in the way of conversions. But then I start
• 15:11
  Speaker 3: playing around with the subtitle. Okay, I see that the
• 15:14
  Speaker 3: subtitle is probably not doing.
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  Speaker 4: A very good job, so I change it. And then
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  Speaker 4: I see that.
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  Speaker 3: I get more clicks and more and more people buying it.
• 15:22
  Speaker 3: But I'm not getting the results I expect because it's
• 15:25
  Speaker 3: a great book, like you said, right, So I go
• 15:29
  Speaker 3: The next thing I tried to optimize is the description.
• 15:32
  Speaker 3: I changed the description probably five or six times, and
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  Speaker 3: every time checking whether I'm getting more click through rates
• 15:40
  Speaker 3: and more conversions.
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  Speaker 4: Once I was okay.
• 15:43
  Speaker 3: And satisfied with the book description, I went to the
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  Speaker 3: other thing. I wanted to optimize the A plus content,
• 15:50
  Speaker 3: so I played around with that. So I changed things around,
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  Speaker 3: I mean the optimization process. We launched a book about
• 15:57
  Speaker 3: a month ago, and the whole month I was just optimizing.
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  Speaker 4: Now, wait, that's not the end.
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  Speaker 3: After I optimize the A plus content and the book
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  Speaker 3: description and the.
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  Speaker 4: Title and subtitle, et cetera.
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  Speaker 3: I started optimizing the ad copy, all right, and seeing
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  Speaker 3: which one brings in more clicks. So, you know, I
• 16:18
  Speaker 3: have colleagues who launch books and unfortunately they just you know,
• 16:23
  Speaker 3: they launched the book and they said it's great, so
• 16:26
  Speaker 3: probably you know people are going to buy. They're going
• 16:28
  Speaker 3: to be standing in line, right, And it doesn't work
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  Speaker 3: that way. You have to always optimize. You have to
• 16:34
  Speaker 3: believe in your product. You have to believe in your service.
• 16:37
  Speaker 3: And if it's really good and you do the optimizations
• 16:40
  Speaker 3: with the prices. Sometimes it's even the packaging of the product.
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  Speaker 3: In the case of the book, it's it's the cover.
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  Speaker 3: Sometimes it's just the one thing that can make the
• 16:49
  Speaker 3: difference between no sales or low sales and exponential growth.
• 16:55
  Speaker 4: Yeah.
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  Speaker 2: I love this optimization reference that you provide, and I
• 16:59
  Speaker 2: really like the exams that you're eating your own dog food,
• 17:02
  Speaker 2: as we say, you're implementing the optimization even on your
• 17:06
  Speaker 2: book title, the cover, the description. And business development is
• 17:12
  Speaker 2: a constantly evolving tactical game at the deck plate level,
• 17:19
  Speaker 2: because the environment's changing, the competitive environment's changing, your customers,
• 17:23
  Speaker 2: your prospects are changing, the environmentals are changing within the industry,
• 17:29
  Speaker 2: and so you have to constantly evolve. It's not a
• 17:31
  Speaker 2: set and forget if you really want to maximize the
• 17:35
  Speaker 2: revenue that you can from your business. And so having
• 17:39
  Speaker 2: this mindset almost kind of a gamesmanship mindset of okay,
• 17:44
  Speaker 2: well that worked a little poorly. Let me see what
• 17:48
  Speaker 2: i can do to tweak the next element of what
• 17:51
  Speaker 2: I'm presenting out to the community, whether it's in my content.
• 17:54
  Speaker 2: You know, you give a marketing example with your book
• 17:58
  Speaker 2: in advertising, but this conveys all the way into the
• 18:02
  Speaker 2: activation phase really, where your prospects are engaging with you,
• 18:07
  Speaker 2: They're engaging with your content, they're engaging with your emails,
• 18:10
  Speaker 2: they're engaging with you personally and you're constantly taking notes
• 18:14
  Speaker 2: as a business developer, there is there is never a
• 18:18
  Speaker 2: business development subject matter expert. Even if you achieved optimum expertise,
• 18:24
  Speaker 2: wait five minutes, you're no longer the expert. Okay. So
• 18:27
  Speaker 2: I always try to advocate being a subject matter explorer
• 18:32
  Speaker 2: because the game is constantly changing. And I like how
• 18:35
  Speaker 2: you say that, you know, optimization is that second very
• 18:38
  Speaker 2: powerful lever.
• 18:40
  Speaker 4: Okay.
• 18:41
  Speaker 2: So let's jump into the number three top takeaway, and
• 18:46
  Speaker 2: I just.
• 18:47
  Speaker 3: Want to emphasize that optimization is infinite.
• 18:51
  Speaker 4: Okay.
• 18:51
  Speaker 3: You never reach your full potential. You always need to optimize.
• 18:57
  Speaker 3: And it's whether it's the copy of your posts, it's
• 19:00
  Speaker 3: the pictures that you use with your posts. And I
• 19:03
  Speaker 3: recommend that our audience not to change all variables at once.
• 19:06
  Speaker 3: Don't change the warranty, the price. Always change one variable
• 19:10
  Speaker 3: and see how things work out.
• 19:12
  Speaker 4: Okay, all right.
• 19:13
  Speaker 3: The third one is called the multiplication lever, and the
• 19:16
  Speaker 3: multiple multiplication level talks about scaling. And when we talk
• 19:21
  Speaker 3: about scaling, it's a lot more difficult to scale alone
• 19:26
  Speaker 3: because you need a lot of resources. So let's say
• 19:28
  Speaker 3: I'm I'm an American company and I'm doing very well,
• 19:32
  Speaker 3: but i'd like to expand into the Japanese market, Chedes market,
• 19:35
  Speaker 3: European market, it's a lot more difficult. It's a lot difficult,
• 19:39
  Speaker 3: a lot more difficult to do it yourself. So the
• 19:42
  Speaker 3: leverage that you can use is the partnerships that you
• 19:45
  Speaker 3: form in the domestic market. So let's say I produce products,
• 19:50
  Speaker 3: physical products. I contact a well known distributor and by
• 19:55
  Speaker 3: leveraging his or her market, know how really connection in
• 20:00
  Speaker 3: the domestic market, I automatically gain access to hundreds or
• 20:06
  Speaker 3: millions of people because of that connection. So it all
• 20:09
  Speaker 3: goes back to relationships. If we talk about I mean
• 20:14
  Speaker 3: both the third level, the multiplication lever, and the revenue
• 20:17
  Speaker 3: lever are basically based on relationships. The revenue lever is
• 20:22
  Speaker 3: based on your relationships with your clients, and the multiplication
• 20:26
  Speaker 3: lever is based on your relationship with potential partners distributors, retailers, manufacturers,
• 20:32
  Speaker 3: et cetera.
• 20:33
  Speaker 2: So let's talk about this multiplication lever a little bit more.
• 20:39
  Speaker 2: You know, how should folks seek out the right kind
• 20:45
  Speaker 2: of partners for their business, because not all partners are
• 20:49
  Speaker 2: created equal. You know, some can be great and then
• 20:54
  Speaker 2: some partnerships just go nowhere. What's the trick.
• 21:00
  Speaker 3: Well, the trick is to first of all, form trust
• 21:04
  Speaker 3: and a relationship with your potential partner. So if I'm
• 21:07
  Speaker 3: an American company I would like to expand into the
• 21:10
  Speaker 3: European market, I would I have to identify let's say,
• 21:13
  Speaker 3: distributors or retailers, fly out, make connections, meet the person,
• 21:19
  Speaker 3: talk about the value that each one of the sides
• 21:22
  Speaker 3: is going to get, and it has to be a
• 21:24
  Speaker 3: win win. And I believe that if it's a win
• 21:27
  Speaker 3: win situation and the other party understands that he or
• 21:30
  Speaker 3: she can make a profit and there's no risk, you
• 21:32
  Speaker 3: can say, you know, you don't have to invest anything,
• 21:35
  Speaker 3: you just get a share of profits. It lowers the
• 21:40
  Speaker 3: potential risk. All right, It's a risk reversal strategy. That's
• 21:44
  Speaker 3: another strategy that we can also talk about in leverage.
• 21:48
  Speaker 3: And once that's done and you decrease the lower you
• 21:52
  Speaker 3: decrease the level of fear, concern, hesitation, and you provide
• 21:59
  Speaker 3: and you reciprocate in a way that sounds logical and
• 22:02
  Speaker 3: does not require too much effort on the other side.
• 22:06
  Speaker 3: I think that's your getway to a great relationship. But
• 22:10
  Speaker 3: of course, sometimes relationships fail, so you need to look
• 22:13
  Speaker 3: for you know, other options. You should always have other options.
• 22:16
  Speaker 3: But I think if you go about it in the
• 22:18
  Speaker 3: right way, you go out there. You know, you don't
• 22:20
  Speaker 3: just do things via zoom or a telephone call. But
• 22:23
  Speaker 3: you go, you meet the person, you spend a few
• 22:26
  Speaker 3: days together, and you make your choices correctly. You choose
• 22:29
  Speaker 3: the right person by meeting him or her in person.
• 22:33
  Speaker 3: That can increase the chances of success substantially.
• 22:37
  Speaker 2: Now you mentioned this risk of reversal concept. What could
• 22:40
  Speaker 2: you go into a little bit more detail about what
• 22:42
  Speaker 2: that means.
• 22:44
  Speaker 3: Yeah, well, if we go into consumerism, many clients are
• 22:51
  Speaker 3: risk averse, all right. It means that they say, well,
• 22:54
  Speaker 3: there's a new product on the market, but the price
• 22:56
  Speaker 3: is a bit high, there's no social proof, there are
• 22:59
  Speaker 3: no review there are a very low number of reviews,
• 23:04
  Speaker 3: and I'm hesitant about buying the product. And a risk
• 23:07
  Speaker 3: reversal strategy is when you provide a money back guarantee.
• 23:11
  Speaker 4: All right, you say, if you're not happy.
• 23:12
  Speaker 3: Return the product within thirty days, okay, no questions asked.
• 23:17
  Speaker 3: So that's a risk reversal strategy in the context of consumerism,
• 23:24
  Speaker 3: or B two C in the context of B to B.
• 23:27
  Speaker 3: It's the same you know, you're selling equipment that is
• 23:29
  Speaker 3: very expensive and people don't want to buy into it
• 23:32
  Speaker 3: because you're new in the market. The same thing you say,
• 23:35
  Speaker 3: you know, let me try it, don't pay me anything now,
• 23:38
  Speaker 3: if you're happy by the end of the month, we'll
• 23:41
  Speaker 3: talk about the money, okay.
• 23:43
  Speaker 2: And you know, I guess that conveys onto the partnerships too, right,
• 23:46
  Speaker 2: I mean, if you can you can create a risk
• 23:49
  Speaker 2: reversal environment with your partners where there really is no
• 23:54
  Speaker 2: risk to them as well. You know, if you're configuring
• 23:58
  Speaker 2: your pricing and your product delivery model based on a
• 24:01
  Speaker 2: risk reversal concept and you're conveying that onto your partners, well,
• 24:07
  Speaker 2: your partners don't see any risk as well, particularly to
• 24:09
  Speaker 2: their trust. The trust that they've created with their clients
• 24:14
  Speaker 2: will not be impacted. So I like how you introduced
• 24:17
  Speaker 2: everything about the concept of trust and trying to figure
• 24:21
  Speaker 2: out as you're trying, as you're pulling on the multiplication
• 24:24
  Speaker 2: levers is how can you leverage the trust of your
• 24:30
  Speaker 2: partners without creating risk for them to the trust that
• 24:35
  Speaker 2: they've created with their clients and their prospects. I think
• 24:40
  Speaker 2: that's really a key takeaway here is trying to wrap
• 24:42
  Speaker 2: trust and trust risk mitigation throughout those relationships. That's pretty powerful.
• 24:51
  Speaker 2: All right, let me summarize here real quickly the three
• 24:54
  Speaker 2: things that we talked about, and then if I miss
• 24:57
  Speaker 2: something else you'd like to add on about the book,
• 25:00
  Speaker 2: please do so, billy, But folks, here are the top
• 25:04
  Speaker 2: three takeaways. The first one is revenue pulling on that
• 25:07
  Speaker 2: revenue lever, and we all know about this as business developers,
• 25:13
  Speaker 2: as entrepreneurs, you have these three key components of increase
• 25:18
  Speaker 2: the number of your customers, increase the average amount they
• 25:22
  Speaker 2: pay for each of your products, or increase the number
• 25:26
  Speaker 2: of products that they buy from you. And that one
• 25:29
  Speaker 2: fundamental lever is obvious, perhaps too many, but it's subtle
• 25:34
  Speaker 2: in how you actually implement that lever and pull on it.
• 25:39
  Speaker 2: The second one is optimization, and optimization never stops. It's
• 25:43
  Speaker 2: a continual process improvement game. Constantly looking at what you
• 25:50
  Speaker 2: can do to optimize your pricing, optimizing your go to
• 25:54
  Speaker 2: market strategy, optimizing your products themselves, whether it's the quality,
• 26:00
  Speaker 2: whether it's what you say about your products, your content.
• 26:02
  Speaker 2: It's a constant improvement gain because the community is constantly changing.
• 26:09
  Speaker 2: And then finally it's the multiplication lever, pulling on that
• 26:14
  Speaker 2: multiplication lever by leveraging your partnerships with those who have
• 26:19
  Speaker 2: existing customers and extensive trust built with those customers, where
• 26:24
  Speaker 2: you can leverage that trust and go to market quickly
• 26:27
  Speaker 2: with your partners for success, especially when you have a
• 26:31
  Speaker 2: risk reversal tool that you can implement with your partners
• 26:36
  Speaker 2: where the risk is low, if not zero for your
• 26:41
  Speaker 2: customers and for your partners. Billy, what else did I
• 26:44
  Speaker 2: miss about the book that you would like to share
• 26:46
  Speaker 2: with folks?
• 26:48
  Speaker 4: Well, I think we.
• 26:49
  Speaker 3: Covered the most fundamental parts of the book because they're
• 26:53
  Speaker 3: sixteen chapter so we cannot possibly go into all of
• 26:57
  Speaker 3: them in the short time that we have. But my
• 26:59
  Speaker 3: message to our audiences and the BDS is, don't work harder,
• 27:08
  Speaker 3: work smarter, learn how to pull the right lever in
• 27:14
  Speaker 3: order to grow exponentially and not incrementally. And remember that
• 27:19
  Speaker 3: there are tangible levers and intangible levers, but most of
• 27:23
  Speaker 3: them are related on are based on trust and the
• 27:27
  Speaker 3: right relationships that you can create with your clients or
• 27:30
  Speaker 3: business partners.
• 27:33
  Speaker 2: Yeah, work smarter, not harder, and use those levers, the revenue,
• 27:39
  Speaker 2: the optimization, the multiplication levers, and those spell rom kind
• 27:48
  Speaker 2: of like read only memory, which is used to start
• 27:51
  Speaker 2: up any device that's a computer device, and you can
• 27:55
  Speaker 2: do that to not only start up your business, but
• 27:58
  Speaker 2: scale your business. And I'll give you one other big
• 28:00
  Speaker 2: lever that you can pull. Go to Amazon and pull
• 28:02
  Speaker 2: the lever that says levers. It's Villy's book. It's on
• 28:08
  Speaker 2: Amazon and you can find it there. I found it
• 28:13
  Speaker 2: and gave it five stars because it is jam packed
• 28:17
  Speaker 2: with tactics. Today we talked about the high level concepts,
• 28:21
  Speaker 2: but when you grab that book, I found it to
• 28:24
  Speaker 2: be extensive with the number of tactics that you can
• 28:28
  Speaker 2: implement and it goes into extensive detail. Billy, always a
• 28:33
  Speaker 2: pleasure to have you on the show. How can folks
• 28:36
  Speaker 2: follow your work, connect with you, and engage with you.
• 28:40
  Speaker 3: They can find me a LinkedIn doctor Villy, v I L.
• 28:45
  Speaker 3: Y Abraham A B R A H A M. I'm
• 28:48
  Speaker 3: also on Instagram, on Facebook. They could also follow me
• 28:52
  Speaker 3: on Amazon. Very soon, I'm going to have a third
• 28:55
  Speaker 3: book released, so if they follow me on Amazon, they'll
• 28:59
  Speaker 3: be able to get notification of that.
• 29:01
  Speaker 2: Oh wow, well, okay, that's breaking news, folks. I didn't
• 29:05
  Speaker 2: even know about that, so I can't wait to read
• 29:07
  Speaker 2: the third book that's coming out, and of course we
• 29:10
  Speaker 2: would love to have you again back on the podcast. Billy,
• 29:14
  Speaker 2: Thank you so much for joining us again and we
• 29:17
  Speaker 2: look forward to talking to you again sometime soon.
• 29:19
  Speaker 4: Thank you for having me Tony.
• 29:24
  Speaker 1: Thank you for listening to the Business Development Podcast. Join
• 29:29
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• 29:33
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• 29:38
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