Redondo Beach 2023 — Day 2, Morning

Jay Abraham · 2023-05-04 · 3 h 11 min · the recording

Transcribed by machine from the recording. Names and a few spellings may be imperfect; the timestamps mark where each passage begins in the recording.

0:01:47testing one testing testing testing testing one two testing welcome back everyone welcome back it's coming from this system right here Michelle around check check how can you guys on zoom hear

0:09:28me so let's make sure the chat is open all right your chat is open everyone i got a tony saying Can you hear him loud and clear? John, can you check Jay's lavalier to make sure our team can hear that? Can you hear John? talking about as quiet as John is. So if you guys can hear him, you might need to turn up your volume when Jay and John are talking on that log. But- Testing, testing. So you see the, so we're getting yeses here. All right, well, let's get into it. But yeah, we're gonna put it as high as we can. Okay, I'm ready. No, it's, there's no rush. If you are digesting and finishing up a conversation that's leading to million dollars, I don't wanna steal that billion dollar opportunity, million dollar minutes that you guys are having.

0:11:12Yeah. All right. So good morning, exponential entrepreneurs. So I wanna do a quick and welcome. Were you able to watch any of this virtually? All right, well, welcome. So you're not going to be able to review but everyone else, I want you to think, think a minute. What did you get. Did anyone take me up on those challenges and set that plan in place of what you're going to do how you're going to do it. And more importantly, what you're going to stop doing to free up time. Did anybody have a realization that they're wasting their time on something and may have deleted an app or made a change or canceled a meeting or called a friend and said, Hey, I love you, but not now. So, okay. So great. So congratulations. you now have more time, and time is one of your most precious resources. So we were talking this morning about how you frame things is what creates security in your future. And one of the things that I do mentally is I used to work at a lot of nonprofits and I worked with volunteers and it changed my mindset. Now, if you think of your team as employees, Are you honoring their time and their lives? I look at all of my team as volunteers, as if they are contributing their most valuable resource to be able to work with me.

0:12:55And I try to get them to become owners of their time, so that they feel a sense of pride in who they are and how they show up. So if you can coach a new frame, instead of calling it customer service, call it client service. There are things we all can do that are in our scope of power that can truly transform our business. And it's the frame that makes the biggest difference. When you frame yourself as an exponential entrepreneur, you have so much more leverage in everything you do and how you do it. Now I'm going to give you a couple of choices on what to do. You have your list of things to do. Let's say one of those things costs a million dollars and one of them is free. What do you think you should start with? Does anybody vote for the free and low to no cost thing to start with? Right? One of those things costs a lot of time. One of them could be done in a couple of weeks. Does anyone agree that it should be the couple of weeks is the thing that we should prioritize so high risk low risk. So you see what we're doing we're creating a heuristic a rule of thumb for our decision making process on which one of these things to start with, if it's low risk fast implement easy for you to explain to your team easy for your team to understand.

0:14:24low cost or no cost even better. And all of these things that we've covered have those options. You don't have to invest a million dollars to be preeminent. You might wanna get a life insurance policy if you're having a problem with this so that you know you're worth a million dollars. Are you getting it? So if you don't have that sense of self-worth, you need to do something to change it. So what can you do so that you really reframe things in a different way, you know? And all of you qualify for a lot of insurance. Just ask any agent, trust me, they will tell you how much you're worth. It's a good conversation. I recommend it every once in a while. It's a little ego boosting, it's a good thing. So yesterday we talked about becoming an exponential entrepreneur. And how are we doing on chat? Are they engaged? Are we guys, are you guys typing along here saying, yes, I want a low cost way to grow my business. I don't want to have a lot of risk. I'll take it. I'll take it. And so is yours, Scott. I like the side you're parting it on. So we talked about being an exponential entrepreneur and the alpha life. So the alpha life real quick is we're all investors in our business and alpha is the ability to beat the market, but your market isn't just the stock market. It's the business market. It's your

0:15:56industry. How can you beat that market? And yesterday afternoon, we kind of bookend, I'll bookend this for you. What quadrant do you want to be in? How can you become a star and a star is a top performing in a niche? So how can you become a star in your industry? How How can you get Renaissance time so that you can reflect to optimize everything you're doing and get the most out of every day and be the best person you want to be in your relationships with your kids, with your friends after work. That's just as important as at work, right? Because that's who you are. Are you getting enough sleep? Are you having the life that you want to be living? So what I've just done with a heuristic is I've given you a metric to becoming a decision scientist, that ability to make a decision because decisions is where the action happens. And I highly recommend that everyone who's watched Dr. Bernard 18 times to chat about that because there's so much richness in learning about how to go to that impossible unless kind of exercise as well as finding ways to make better decisions. How do you leverage the levers? So pulling the growth levers and maximizing and multiply, we're gonna get into that a little bit more today.

0:17:20And again, the heuristic, you're all doing things before you throw the baby out with the bathwater, maximize what you're currently doing. This is another key to Jay's heuristics, his rule of thumb on where to start. maximize what you're doing, get that income buffer before you innovate and make yourself obsolete. Now work on that, you know, becoming obsolete and totally outperforming the industry, but maximize what you're currently doing first, then get your ducks in a row, and then you can multiply and kind of innovate in a way that would make everything you used to do just like old school. Then there are three ways. Uh, there's only three ways to grow your business and, uh, you know, powerful stuff. We talked about, uh, building new pillars. Anybody get an idea on a whole new division that they can create? If I don't see a lot of hands. So what division could you add to your business? Uh, does anybody here use direct selling? Okay. Uh, one. So, so everyone you can, you can talk about direct selling and maybe see if there's an opportunity for you. Does anyone here use social media to get, you know, new clients? So we have a couple over here who use social media. So find, you know, one of the questions as you're having lunch today is, how do you get your clients? I don't do that. How do you

0:18:53do that? And now you have something in mind of a pillar that you could create a way of generating clients going forward. Testing. So test everything. Dr. Bernard loves learning. Jay is curious beyond a belief. And when you open your mind up, you see so many possibilities. And how do you validate those possibilities? Give it to the ultimate test. Put it in the market. What the market wants is the answer. If they like this headline better than the other, use the new headline. If they like being called a client instead of a customer, call everybody clients. You kind of know that one's true. Drivers and pivots. Jay went over those nine drivers, the pivots. Did anyone see the possibility for a new way to energize your business or maybe a shift that would make a big difference. So I'm seeing a couple of head nods. Yes, yes, good. Did you notice that there was more than one? So you, I mean, you all should have big lists coming out of this. So, and then we have access denied. Now, at the end of the day, I kind of flipped this, this model on its head. And I said that if you want more time, you can deny access. What's stealing your time? What's stealing your energy? How can you get that back and realize

0:20:29if you don't have time and you don't feel energized all day, most of your clients probably don't either. So how can you help them become more energized so that they can make a decision in your favor? How can you let them know that you're there in your inner circle and you want them a part of your life and make that invitation a little bit more clear and different so that it stands out in a way that they feel like, hey, I want to be in your circle. And then we talked about things to avoid, like becoming successfully stuck. It's easy when you're making lots of money to just kind of go on coast and not do anything. But if you can eliminate one marketing mistake, It's really easy to find your business growing and not even know why you just eliminated, you know, like taking off a plane without landing gear. You know, you can do it. You can you can take off. But if when the wheels fall off and you're in the air, you know, something in the future might not be perfect. So how can you make sure like they were talking about, well, how much gas is it going to take us to get to the moon? Well, it's going to take this much amount of gas. It's like, great, we've got it. We can get to the moon. But the but the critical thing isn't getting to the moon. It's getting back to the earth.

0:21:50So make sure you plan your return journey because things can go wrong. wrong. And Scott and I, one of our favorite acceleration session sections, sections and sessions was called the red team exercise. And the scary thing is, is that we were giving this and we know it wasn't hitting. And do you want to know why it wasn't hitting? Because you haven't gone through the tragedy. After the tragedy, a red team event becomes spectacular. You're like, oh my gosh. And you you'll take more notes than ever before, because you realize how dangerous and weird and changing the world can be and to think about, you know, the elements of things that can go wrong and you challenge yourself with ever bigger problems, not in a catastrophizing kind of way, but your brain can rise up to some pretty amazing challenges when you say, what would I do if let's say the US currency collapse? What could I do? How would I run my business? What if all my team left tomorrow? What would I do? What if computers no longer worked because AGI took over. What would we do? Could we go old school if we had a crash in a day? Do we have a printed record of everyone that's done our stuff? Do we have their emails in writing in case we lose our computer system? So things like that are great to think about.

0:23:17And then I'm going to turn this over to Scott to capture as much as he can about what we're what we're doing next. There was a couple of comments in the chat of people of what they're planning on doing, writing books, 80-20 time, so fantastic things. Brian, can you run the camera and use Zoom on this? Because I figured that's probably the best place to put it. When I was a corporate trainer, we tried to figure out the best way for people to remember content and put things to action. So I'm gonna teach you a three by three by three model. Is that okay? Where would you like it? Like this, is that better? That'll work. for the camera, like this is about the only place that we can go to do this. Okay. So Brian opened up yesterday with something fantastic. He said, Hey, what are the three things that you're going to focus on? And you may not have that list complete today, but like this morning, but by the end of the day, if you have three things that you're working on, this works very well. So you take your three topics, super simple. You can do this on a piece of paper. You don't need a computer. You don't need a laptop. You write your three topics, and then you break it down for your team into three sections. Okay, just three things. So if I say hey on this initiative,

0:24:31here's the three things you got to remember. We tried four, we tried five, we tried six, two wasn't enough, three was perfect. So this was this took about three years to figure out. So for this initiative, we're going to do a new 8020 rule. So everybody on the team knows that there's three things you got to remember about the 8020 rule, we're going to test, we're going to meet every Thursday and talk about it. And then we're going to implement on Friday. That was like the key takeaway any time that we worked with something. So let's say it's something that's a little bit more complex. What you do is you take your topic and you break it down into three sections with three pieces of information each. And you could take like a whiteboard like this and put it on the wall and just put them in consecutive order next to each other. And so when we had teams that weren't implementing, it was because the idea was too complex for them. And we couldn't say, what are the three standards that we're going to use to measure this? So this is where it comes three by three by three. If you go like, hey, well, I want to add like another one, try to reduce the amount of content that's in there or implement at a later date. Anybody have any

0:25:47questions before Brian and I keep going here? No, they do. Well, right. We can trade, we can trade recipes. So the greatest thing that you can do is to really sit through, if you're going to roll something out to a team, think through every division. So I had seven groups of people that I trained on a daily basis. And we were able to get marketing campaigns and events to run better when everybody knew exactly what they needed to do. So sometimes for each team, we would have to change the dynamics or change the instructions or change the information for what they needed. but when an initiative ran for a company, they were able to go, okay, this is what my team is responsible for, and this is what we need to do. We only got three things we need to focus on. Or if it was super complex, we would figure out the nine, run them next to each other. So like, if it was just like a super simple conversation, okay, so like, I trained a lot of people on a door approach. That was like, we figured out that the first two minutes were the most important part of their sales process. So for a simple process, it's just the three. For something more complex, like an entire cells process, this would be the ninth. And we have Jay.

0:27:16So thank you. Good morning, Jay. So who would like to share their biggest takeaway for yesterday from Jay? Or Jay? I'll bring you the microphone. I know it's on. Brian? Biggest takeaway from yesterday? I think it's just been that. That the way that we hold space for preeminence can be truly transformative. And I think that preeminence can be like a frame of a edifice that can go to the moon. And by reflecting on how you can make one thing a part of everything, I think is truly transformative. And it's so rich and so deep that I always want to work on enhancing that ability to connect everything back to that one thing of preeminence. And so it just hit me a little bit differently yesterday. Sometimes when you're, you have a microphone, you get it and you have to translate someone within a mind like this. It's just mind boggling. Anyone else? Or Scott, we have anyone on chat? I am, grab a soap for Jim. Gotcha. He's doing something for me for a minute. Any other big insights, plans? Or little insights? Little insights. Or, or sites. Good morning, Jay. For me, it was that I'm leaving money on the table because I'm not taking care of like, I don't have any entry level, I only sell one thing.

0:28:51So I got like a bunch of ideas of where I think I have like money already, I just need to get it. The, so I like that you said that you can't think of things that caught, at you know, as costs. That you have to think of things as investments. So when it comes to employees, I think, Hiring more people doing things like that. It just creates more of a like an urgency to take care of that, so that I can open the door to all the other stuff. Very good. All right. Anybody else. I like that I miss great stuff. Let's do it again. even though even though in many of our products we do have risk reversal but yesterday what I like the most was you know risk reversal for employees also so I'm going to craft some you know things in and around that for employees risk reversal yeah and just to pick up on it it gets them willing to do things a lot of people are unwilling to do things because if it doesn't work. They think I'll get fired. I will hurt the company. I'll look bad. And if you can take that kind of relative internal risk away, then you can get a lot of people to do a lot more things or the risk of being vulnerable. Most people don't understand vulnerability is not a weakness. It's actually a strength because it shows you're human. I don't know anybody, myself included,

0:30:31If you can ask my wife, she'd tell you I'm anything but omnipotent and perfect. Jay, I'm going to go back to Italy and write three words up so that when I walk into my office, I'm just going to have the reason why, because I think that those three words apply to everything that you do. The reason why told me to clients, the reason why you should just use certain distributors, what your new business plan should be, the way you treat, you develop your strategic plan, everything. I'm just going to have those three words so that it will always engage my thoughts process into growing as instead of making it. And I love that. Thank you for that. That's very, it's very profound. I hope you guys are listening, taking notes and interpreting because some of this is the best part, because whatever we have here, we have, I don't know, 30, 40 people on Zoom, but the differing interpretations that you hear gives you so much more it's another stage of geometric growth and understanding how many different ways people see what you experienced yesterday. Okay, anybody else? Hi, good morning, Jay. For me, I loved what you said would take it to sublime, like really go to that spot. And that doesn't mean it's not going to be an easy journey, but it's going to be worth the journey to get there

0:32:03because it's about the process of the journey along the way. It's not the ultimate destination. So I think that's really powerful. I love that. Thank you. For us, adding in the back end, it's been missing. So we're going to add kind of an an educational element on the back end to our business. Also, we have in mind to teach our business model to others too as a kind of a separate business, I guess. I think that's great. And what would you teach exactly? Teaching how to build, offer websites as a service, basically how to, like the things that we've learned how to, not only the technical side, but the marketing and other stuff that building your team, all of that, you know, that it goes into building that kind of business. That's cool, that's really cool. I mean, I've heard denied access many times and I've heard many people talk about denied access. And when I look at myself, I think about, we're getting clients in different directions, but what I realized yesterday and more about is that we don't go after where we don't have access to. But now if we kind of flip that on this backside and look at how we can then create that vehicle to be able to get that access, that was kind of a turning point for me. And that's a couple of other things,

0:33:22but just that was probably what- Yeah, just the biggest point right now, because we got a lot more ground to cover, miles to go before we sleep. Of course, I got several things. Preeminence, of course, remains paramount for me, but one of the things that was like success is an aggregation. It's not a one thing, it's an accumulation of many things built on top of each other in that. That's like, oh. That's great. Okay, anybody else? Okay, we done? All right, everybody. let's reset. What are we here for? We're here to learn how to take our profits beyond exponential. And even though that's a bottom line focus, it gives you the capital and the stability to grow your top line. If that's what you are more focused on, you would do acquisitions, multiple media distribution channels. I'm going to tell, okay, here's the, I want to give you the lay of the land for today. We have a ton more content to cover. I'm going to cover it, but some of it I'm going to cover expansively, some of it very simply because I'm going to respect your intelligence that I'm hoping yesterday expanded your mind. I'm going to tell some stories first, then we're going to get into it. I'm going to expect you to have an insight at intervals because I want to see where we are with it, and then we're going to do in

0:34:53the afternoon, rapid overview, and we're going to spend an hour or so reviewing what you got out of it. The biggest three things that you can do will do are going to do when you go home, how, why, when. And I have been asked, what are the other services you have? We have some cool ones for larger companies and smaller, but I will only tell you about them if I feel we have achieved my I hear, I hear. I'm here for a reason, first and foremost, if I attain it, then I will earn the right to tell you about some other stuff. If I don't, I won't. And I hope today I'm looking at, I don't know why I'm looking at that, but does that how they see me on the, on the Zoom? Oh, they're not yet? Look at my hair, Jesus. I got it. Where's my makeup? I apologize for yesterday guys and girls. I don't know how many are on but as I said we had about 350 of you that were entitled to come here and you helped me a lot over the years and I hope you got a lot out of it. We spent about 10 times more than I thought because we just decided we want to do it over and over and over again and see if we could really help you. I hope even though I was a little bit disappointed not necessarily in you but in the aggregate you because most people didn't do much of anything. I'm hoping that the ones here in this room and on

0:36:19the Zoom actually act, actuate, execute, apply this because it would be tragic for you and a waste of my opportunity cost if you don't. I got a couple stories I want to tell you. When I tell you these stories, I'm telling for a few reasons. I have to look at them. I marked them on my phone. I'm telling you not necessarily because I want you to consider doing it. I'm telling you because I want to keep expanding your paradigm and all these are true and they're not in any order but they're from my life. They're from my life directly or my life through mentors. They all happened. They all are real. They all occurred by looking at everything differently. I'm going to give you by the way we had a thousand dollar a person very inexpensive about four years ago one time only I do things one time just to see how they work and I never usually repeat it but we did a program maybe some of you are in it it was called do something different anybody do it okay it was fun wasn't it and the concept about it was not marketing or advertising or business modeling It was effing with your mind. We basically, every week for 13 weeks, I gave people one thing to do differently than they do now, so they would look at life from a different vantage point.

0:37:39And the example would be every one of you in this room has, if you work days and sleep nights with that assumption, you have a personal protocol. you get up in the morning, probably go to the bathroom, then you, depending on who you are, you might shower, or you might go make coffee or tea, or you might get on your internet, or you might watch the news, or you might go pick up the newspaper, then you do the next stage, then the next, and if you don't work from home, you get in your car or a bus or a train, and you go somewhere, and if you're driving, usually go on the highway because that's the most expedient and it's somewhat monotonic and robotic and as one of the one week we just said do everything different except pee. Do that because you can't really not but everything else reverse it when you go to work if you drive don't go down the highway go down the side streets pay attention we're trying to expand your mindset one of them I think was and they're much more complex than this if you think you can't achieve something. Go drive on if you live in a place that has a huge bridge drive on it. If you live in a place that has skyscrapers, at least scrapers, look at what it took to do that. You think you can't do what you want to do? You think you can't figure it out when these people can

0:39:03figure out how to build something? A hundred stories, wire it, have everything work, elevators can go that high, electricity, water, plumbing, it goes up and down. And you can't figure your your dilemma. It's inconsequential. It's like a pimple on the pickle of time, and when you realize that relative inconsequentiality of the seemingly difficulty of the challenge or the goal or the impediment, it blows it away. By the way, is Dr. Alan on? We invited him, didn't we? Let me know if he's on, because I'm doing an impromptu thing later. Did you guys like watching the video. Did I give you a perspective? I have approximately eight cool videos like that that we intermittently play. And what I'm going to do, because I've got a lot of ground to cover, if I can't get to any or many, I'm going to put them on a private, whatever you call it, I don't know, website, a page, a portal, whatever it would be so you can watch them. And I'll give you a hierarchy because I have these wonderful experts that are, they do things with me that are very different than they would do on a stage or at a seminar because we have a very, it's called an open intimate and very close relationship and they're very profound. We have just so many of them that I could just play them all day and it would be day two,

0:40:25it could be day seven, we have that many. Okay, stories from my life and you can take from them what you want. They're not in order. I'm sorry because I thought about them as I was driving and I had to pull over and put them on here and I didn't put them in order yet and I don't have time. So the first one, true story. I helped a driving school in Japan. They were the largest. They were in Tokyo and they had a problem. They were trying to grow and it's very interesting that the market is about age 21 to 30. That's the market. It's about $3,000 or $4,000. There's virtually no back end that they have because they offer things with defensive driving and race driving. Nobody wants it, a few people. It's not cost effective to advertise, so they would draw from radiuses of where the three offices were. And they had done thousands of people, but their margins were really eroding. And I was trying to figure out how to help them in a much more inventive and lucrative way. So what I always do is a Socratic interviewer. I try to understand what's going on, the dynamic that's driving them, all the relative factors. And I did that. And what I realized after talking to him was something very shocking of 100% of the people that get the driver

0:41:51training half never even get a well yeah they all get a license because a license in Japan is sort of a badge of honor half of them never ever drive the other half half of them never get a car they just rent cars for the weekends and the holidays but they rent cars so i said well maybe they real opportunity here isn't the thousand dollars you make on your three thousand dollar sale, it's setting up corresponding relationships and being in the rental car business. So we did that and it worked really well because they can go back to everybody. Every time now they train them, they gave them preferential. But then I said, well, you're three out of how many are in Japan? 100? So we said, why don't we make corresponding relationships with the rental car company so we can model this out and partner with everybody? And we did. Pretty cool. Hold on. The next, true story, I told you about the motorcycle company in Japan. There's, I mean, in China, there's another one which is pretty impressive to me. So a man came to five or six of my seminars in Japan when I used to do China, Japan, Malaysia. Anyhow, he ran at the time the ninth largest candy company in China. There's a lot of candy companies. And this is vicarious. I did not do

0:43:20this for him, so I wish I had, but it's such a cool story. It's worth telling. He came originally trying to help his company be better marketers, advertising, value creators. So go to the value creation. Turned out that he flipped what I was trying to teach a little bit on his ear. There's about 60,000 mom and pop candy, whatever you call them, shops all over China. And, you know, they're just hardworking families making a living. And they're not great anything. They're not great market strategists, anything. They just, you know, they buy candy, they sell it, make a little money, you know, pay for the family. Instead of trying to make their business superior by marketing, they did the opposite. They went to all the candy companies and they said, look, you give us whatever the percentage is right now, we want to help double your business. Even if you don't give us one iota more, we'll double our business. We want to help you get more. they use the word customers because clients don't work in China if you don't understand it. We want to get more people buying more, we want to get them coming back more, we want to get them to tell them they did that. They took everything they learned from me and they started teaching it

0:44:33to all these little mom and pa candy companies, very benign, very simplistic, but it worked. And do things happen. The candy companies grew, the little candy stores, shops, and because they were the only one that helped them and cared about them instead of saying buy from me so I can parasitically take advantage of you. They were the only ones saying we want to grow your business because we know if we don't get one percentage point more of your purchase we'll grow our own. They were so appreciative that they became in a matter of I think two years the number one Candy Company in China, and they sold 49%. This is about eight years ago to Hershey's for $500 million. I was giving you stories that you might reflect on to stretch your mind, all true. This is a funny story from my life, and you have to be old enough to appreciate this, so half of you won't. In the music business, before everything went digital and iTunes, it went through hierarchy. There was what is called eight-track, and these were great big sort of clumsy things that stick into a great big player. And then there were cassettes, and then there were CDs, and then there were DVDs, and then now it's all digital. So I guess you can get DVDs. But in the era of eight-track, I don't know if I told this, I don't think I told this

0:45:58yesterday. Did I tell it? True story. So before copyright laws changed, people could make eight tracks of anything and there was no no illegality in it. So you could make these eight tracks and they sold for four dollars, three dollars, five dollars, and they weren't as good, but it was not illegal. And everyone was selling them except there was this big chain in where I I lived in Indianapolis. They had 40 or 50 stores. They were like a 7-11. They weren't selling them. I didn't have any, none. No contact, no interest in it. But when I saw that, I thought, wow, what an opportunity. So I went to the head of the store group and I said, if I could put eight-track stereo recordings in boxes that are secure on the top of your counters in all your stores and it costs you nothing and we just in essence can sign it and we sell them for three or four dollars and we let you keep a third for doing it and we get two thirds would you do that he said sure and he said i mean not last but we'll do it so i got a contract with that contract then i found the largest regional eight track tape maker who had no presence in indianapolis I got ahold of them. I said, I've got a contract from 40 stores. I have no supplier. If you'll

0:47:24consign in, let's do it. They sent me $200,000 of retail of eight tracks and cases that I had to put in a garage. I did because I didn't have a garage. I was living in an apartment where you parked out front. I then hired my brother and I paid him $400 a week and we We bought an old beat up Chevy Biscayne station wagon. He would go and do inventory and he would build them for whatever soul, replace anything that was reject. And it was so funny. I can remember one day he called me and he said the wheels fell off the car, literally. The back axle broke and I had to get him towed. But we were making $4,000 a week profit for about a year just because I did that. I'm just giving you true stories, hold on. So the last job I had that I was paid for was in 1975 or six, I can't remember, but one of those years, and I was the Strategic and Marketing Executive Vice President of Entrepreneur Magazine. Sounds impressive, wasn't that big of a company, but I was very good and I orchestrated and engineered most of the marketing. And I got to the point where I didn't like it because the guy that owned it believed his own BS. And every month he would hire another five or six people. And when I started it was small and he got to about 50 people

0:48:53and I had to service all that overhead. It was getting so oppressive and I was doing very well for him, but I got tired. And there was one man named Harvey Brody. I don't know if he'd even be alive today who was sort of the godfather of at that point the information marketing world, business opportunity, investment, experts, newsletters, all those things. And he adored me. Why, I don't know, but he adored me. And I was privately lamenting to him, and I had, by the way, entrepreneur was exploding. I mean, we did something like an eight or 900% growth that we were able to orchestrate in less than a year and everybody knew about it, it was pretty amazing. It wasn't the same format it is now, and I'll tell one story about that too. These are all relevant, even though it's not the PowerPoint yet. So I called him and he said, no problem, Jay, I'll take care of you. And I was making 75 grand, which was good money back in 75 or six, but he got a hold of everybody in the information marketing and he said, you better call this guy, get him to your office and hire him and pray your competitor does it. And in one month, I was annualizing 2 million because of the influence of that man. That's telling a true story. Now, another story about an entrepreneur that is relevant,

0:50:14and I was pretty proud of this. So Entrepreneur Magazine wasn't a magazine when it started, it was a membership-oriented $100 a month deal, and you got discounts as an entrepreneur, you had to learn what an entrepreneur was, so we had to educate you. You got some, you got a card, you got a plaque, you got some stuff, and the key what you got every month a magazine formatted membership publication that had in the center approximately a 30-page distillation summary that was identifying and chronicling what we thought was the biggest small business opportunity of that month. And we did things like tune-up shops and salad bars and yoga, I mean yogurt, and I mean all kinds of things. And they did nothing with it. at the end of the month, it just went into archive. When I got there, we had about a hundred different things in archive. I took them, we added boilerplate stuff to the meaning, what you'd have to do to hire somebody, an attorney, a J. Levinson type of gorilla marketing. And we sold them as startup manuals for $39 and $49. And we sold, the magazine was doing, I mean, the membership was doing a million dollars, and we were doing eight million dollars reusing the sunk cost content that we had there. Then after that, I took all of the reports that were,

0:51:42we could make vertical, small investment, low risk, automotive, service, food, and we put those into what we call the Entrepreneurs Institute that were $200. I I just kept doing it over and over and over again. When telemarketing first came out, no one knew about it, a friend of mine who still is an entrepreneur magazine was masterful at turning sales, say order takers into sales makers. And entrepreneur magazine was just getting, because we had catalogs of all these reports and we're doing marketing, they were getting a quantity of calls because we were very visible and people were taking orders, but they weren't making sales, they were taking orders. And my friend went and analyzed it. And he said, Jesus, I can multiply this many times over. So he made a deal where they pegged whatever they were averaging and that was theirs. And he got half of all the overage and he was making 40 or $50,000 a week because they didn't really optimize anything they were doing, which I thought was pretty darn interesting. You all know what DHL is or you should, it's a delivery service like FedEx. When they came here, they were brilliant. They went to all the radio stations, television stations and offered to trade their services for advertising.

0:53:05So they got about $10 million of advertising and it cost them much less of service, but that wasn't their end game. They knew that once they took those accounts, which at that time were really heavy duty into using those kinds of services for all their clients and they did things all over the country, that once they got all these stations comfortably addicted and acclimated to them, once the trade expired, they would become cash paying clients. And they did, because they had a dependency. I thought that was pretty brilliant, actually. Hold on. On phone, Jesus. Okay, you, again, you have to be old enough to appreciate this, but the story is relevant to any age. So when Mazda automobiles came to the United States, they introduced as their first model, something called the RX-7, which was a piece of shit. It was underpowered, it leaked oil and it didn't sell up. True story. It did look cool, but it was, did you have one? But they were terrible. They were terrible and they didn't sell up. So they literally had at retail about $50 million these cars sitting and pointing to Long Beach Long Beach on the harbor, gathering dust and rust. And this friend of mine, who is my barter mentor, who's brilliant, said, I'm gonna go there

0:54:33and I'm gonna trade those cars for and to them for a radio TV advertising newspaper they can use for the next year's model, which was a much better car. He got an appointment with the president who was from Japan and he sits down with him and he said, I wanna trade you those 50 million dollars of cars that are wasted and just sitting there for $50 million of credit you can use for your next year's model. It won't cost you anything, I'll get the cars into places where people will at least see them driving instead of sitting, gathering dust and rust. And the president said, in essence, I would love to, but if I did it, I would lose space both in Detroit, but most in Japan. And he was very polite and he sent my friend away. And my friend's driving back on the 405, which is the main highway here if you don't know it. And he goes, he turns around, asks for five more minutes and says, let me ask a different question. If I buy $50 million of cars from you, would you buy $50 million of advertising from me? And he said, sure. And they did it, but it was all semantics. It was all semantics. And sometimes it's how you contextualize all semantics. There's another car deal. When Chrysler went bankrupt, my friend traded $100 million of Chrysler cars

0:55:56to radio TV stations so they would have advertising for their current and their future models. And I won't give you that story, but what was really cool, one of the guys was in Hawaii, he was a big media guy, he had radio TV and a lot of other businesses, one of which was a dairy company. When my friend went to him to trade cars, He said, well, would they trade trucks? And he said, I don't know. And they did. And then this guy was so brilliant. He took every car they would get. It doesn't cost anything if you have unsold time. So the car is fundamentally cost nothing. He put notes in his, it was hilarious. He put notes in his lunchrooms and all he, I think he had 12 radio and TV stations. And he said, Chrysler, you know, New Chrysler is 25% off sticker and he sold them all and he got prepaid millions and millions of dollars today and he didn't run the ads for up to a year. It's a pretty cool story. This is another true story. The newsletter business today is mostly electronic. When I started, I was at the forefront and it was expensive, $200, $500 and they were physically delivered. I would send it to you in your home, but the industry was very incestuous. So for example, I would rent your list and mail it, and I would read your list and mail it,

0:57:25and you'd rent my list, it was very incestuous. And I realized that the newsletter publishers who were very bright thinkers, but they were terrible marketing and terrible strategists didn't have a clue the value they really had. They had all tried to sell things inside their newsletter but their referential model was very, very linear. They tried to do it with a one page, one sided ad. Now, I gotta make a point. All these newsletters were sending out 16, 20, 24 page sales letter to sell the newsletter. But they tried to sell expensive things with a one sided, very summarized ad didn't have any benefits, any advantages or bonds. So none of them thought there was any value in their inserts. But I realized if you are renting my list, and I'm renting his and vice versa, the equivalent cost to print it, to mail it, to rent the list was about 65 cents back there in the mail. The hard cost of the newsletter back then, there was a special mailing rate, rate was $6. So at $200, $300, $500 newsletter, it'll cost the same about $6 to send out 12 issues a year because they had very special preferential rates. I realized that if you could rent my list, and most of them would break even, and break even was determined one or two ways, it was either

0:58:57getting back your 65 cents, or getting most everything but not getting the $6. If you could break even renting my list at What if I took your mailing piece, which might be 16 or 20 pages, and I turned it into eight point type instead of 14. And instead of having a lot of white space, I used coloration to break it, and I turned it into an eight page insert, and I stuck it inside a newsletter. And I did some math it cost five cents to do that. And I thought okay if it breaks even at 65 outside market and I can stick it in a newsletter for five cents. First of all, if you just did the same I'd make 60 cents on everyone I printed. But because it was in a newsletter, even if the newsletter didn't endorse it had the implication of an endorsement, which will double or triple or quadruple. And I thought, that's pretty cool. So I went to all the newsletters with my assumption and I tied up the rights and I did it. And I gave them a royalty on my percentage, but I kept the lion's share. Then I would go to newsletters like you and you and I'd say, look, you're happy to break even. So if I give you your $6, it's the same thing as long as somebody paid 200, what's the difference? And I convinced them. So I got to keep on a 200 or 595%.

1:00:23And I'm paying out 20, 30, 25%. On average, the first one I did, Swear to God, I was living in a little house by the beach. And I get this knock on the door. And it's the postman. And he has five big, this tall, this tall canvas bags, because there was no, you didn't have the internet full of checks for $200. And we made $500,000 the first month. I'm just telling you two stories. And I'm not telling you because I'm trying to impress you with me. I'm trying to show you how thinking differently is very, very, very, very, very profitable. Yes, I mean, as far as the back end, I forgot. Thank you. So when I realized how powerful it was, I also asked for and got the rights to put everything else I wanted through that distribution channel. I forgot about that. So I was able to tie up all this distribution. These newsletters were spending millions of dollars to get their subscribers, and the subscribers then were not, I mean, today they've got millions, but the quality is not the same. Everybody's investor today. Back then, in the 80s, the only people that really invested had money. They were entrepreneurs, or they were doctors and dentists, and they had money. So it was my audience and I knew how to, I put gold offers there, diamond offers there, gold stock offers

1:01:55there, money market offers there, seminar offers there. It was just, it was great. The only reason I lost it is when I did it, I was younger and was unsure of how viable it would really be. So I only got 18 to 24 month deals. And when they saw how big it was, they never renewed it with me. So I made millions of dollars and then I made nothing. My stupidity. Let's see. I'm going to tell you a story how eight dollars made me 7.2 million dollars. Would that interest you? Pretty cool story. So I was at the pivot point in the newsletter business for many years. I mean, nobody knew who I was. Now, if I'd, if I'd been very candidly, if I'd stayed in that, I've made millions of millions of millions, hundreds of millions more, but I accidentally got into the public advice giving and training business. But when I was in the newsletter business and I had the rights, I got sickened by everybody who was promoting their newsletter. Everybody purported that they called the top and the bottom of the gold market and the stock market, and they bond market, and it was just, it was, it was disgusting. So I decided, screw that, that they all became full of hubris, and it was terrible, and I was, I was always a little bit of

1:03:23a bad boy, ethical bad boy, but a bad boy, so that's that shit. Let's find the ones that are the best newsletters, but the worst marketers, and let's make deals with them when we offer their newsletters almost for nothing, with a very uniquely articulated proposition that somebody's got to invest in you. Everybody says, hey, buy my newsletter for $200. If it doesn't pay off, I'll give you a return. But what you don't understand is if it doesn't pay off, you lost your ass on investment, didn't you? So okay, so great, you gave back $200 after I blew 100,000. So we did the opposite. I scoured the whole geography, found about 15 newsletters that were really cool, but they were not good promoters, made a deal where I would just give them the $6 that it costs. And I created ads called the marketing test and I said, these are $200 to $500 newsletters, but we're going to let you have it for only $19 or $29 as part of a test. And I told them the why. I said, we don't want you to really invest you with your paper trade for a year. And unless we make you a whole ton, you're not going to renew. But if you renew, we'll make a lot of money. And if you don't, it won't be on our conscience. And I did that with about, I don't know,

1:04:4020 really good newsletters that had great cases, but they were terrible markers. In three months, we sold 900,000 subscriptions. But that wasn't the story I'm going to tell. So we're telling the story in this, in each ad was talking about a separate newsletter and it would say, are there any catches? This is before the world today. We'd say, yeah, there are a couple. Number one, you can't be an active subscriber or renew because that's not what this is. Number two, you got to pay by check because we don't want to, we aren't going to take the three or 4% discount on the credit card. And you're not going to get the bonuses you get if you paid two or $500,000 and we had some more copies. Then we came back and said, oh, and by the way, if you're one of those people who absolutely, positively won't take advantage of an 85% discount unless you get the bonus, we decided we'll let you have the bonuses also for an extra $10. And 95% of the people took that. It was $8 profit on 900,000. I made a little bit on the 19, but I made $8 on the 900,000 that bought the upgrade. So the upgrade was most of the profit, $7.2 million. So it's pretty interesting story. I'm almost done. You like this? True, they're all true. These are just an insight.

1:06:14So when I did ICI years ago, We originally had a Broadway actor that my employer had retained to do TV spots. We'd never tested them. A very famous Broadway actor if you knew Broadway. Very elegant. And I, my job was to set up all these TV stations to run ads for us on performance. We didn't pay for them. And I was very successful. I got a hundred stations plus to say yes. and we'd never tested these videos, these ads. When I ran them, they bonked. And I was a big page for going to performance and I'd worked for months for nothing and I was starving and this was gonna be my big home run. And so everyone gave up and I said, well, let's try something else. And I thought about it and this is what I wanna teach you. I thought, okay, who represented an icon of virility of virility and health and strength and vitality when somebody my age was young. And now you won't know this, but there was a man who was an actor. His name was Buster Crabbe. Buster Crabbe played Tarzan, Flash Gordon, Captain Gallant. He was the personification of all this. So I happened to see him running terribly embarrassing ads in the National inquire for a stomach girl for men and I realized the guy was not doing so well so I found him in Arizona and I made a deal with him where we gave him four grand up front and 25 cents a jar and he

1:07:53recut the same spots and we ran them and they killed spots that did terrible with the Broadway actor now concurrently two more stories and I'm going to stop I want three more stories we did A friend of mine who ran one of the newsletters for Agora did a test a few years ago. They had an entrepreneurial business opportunity newsletter. And they got the guy who played the father in Happy Days, who would think he would stand for that. But they tested him and he tripled the result. He became the signator and a little picture on their mailing piece. and the same male increase without it, whatever, the inverse of 300% increase, concurrently, and he died, but John Ritter, when he was alive, he was the face of a very, very, very successful infomercial called where there is a will, there is an A, where there's a will, there's an A, and it was for kids who you're trying to get them better grades. They had created the infomercial with just a generic person, and it did X. They tried an experiment where they got John Ritter, who had been a star of one of the comedies. I can't remember what it was even, Three's Company, and it quintupled, same, same basic thing. So what I'm saying is you might think, who would be an iconic person that you could

1:09:14test for the audience you want, not the A-list people today? Because a lot of the people that were really hot, whether they were actors, whether they They were TV, they're on the skids now, and you can get them on a test very reasonable. But I'm saying many times, not always, that additive. And the last story, which is a variation of that, it was a company called Hume Publishing in Canada. They sold information that was financial investment. And they did something really profound. They went out and built a board of advisors where they put a lot of iconic people on. and they used all these people, some of them you would know, most of them you would never know, but they had great stories and they put these eight or 10 people or 12 on their ads and they tested it and it multiplied credibility and sales enormously. And since then I've done a bunch of variations of that where I've gotten clients to create a board of advisors where they'd get iconic people that either were known or just their last job or their current job or what they did when they retired was impressive as hell, and they would create a fund. The deal would be we'd go to these people and say, okay, Sam, John, we want you to be on our board of advisors.

1:10:37No liability is not like a board of directors, because we don't have to embrace or apply anything you say. We will meet two to three times a year virtually, neither by phone, now by Zoom. And we'll have discussions. We will pay you an honorarium for each one, but we will also create a fund based on, and we had all kinds of different variables, but X percent of the growth above a metric that we were already trending. And we will throw the money into this fund and we will divide that money two different ways. Half will be equally distributed amongst all of you and half will be arbitrarily paid out based on what you do. So if you got on the phone and called somebody for me, or if you went to an event for me, or if you did a webinar for me, that has a lot more relative value than if you just let me use your name and your past or current job. So there's a few stories. Did you like those? And did they help you think differently? Because I'm not telling you for you to do these. I mean, you have to realize, I, after 1975 or six, I had businesses, but I really didn't operate. They're always almost ancillary. What I did mostly was just help other people that had businesses. And I always made more than they, because I would get 25 to 50% of the profit increases

1:12:01I could produce that they couldn't from really looking at all their assets. And then if they had really cool opportunities that they didn't want, I would say, well, I'll buy them and give you the inverse. Because the risk was so low. And sometimes they'd get mad and I'd sell them back to them, which was hilarious for a big lump sum. Well, actually I wouldn't. I'd sell them back for an amount they'd pay monthly. And after about four months, I'd give them a discount if they wanted to short rate it because I didn't want to be their bank. And I'm just trying to teach you to think wildly differently than your competitors, wildly differently. And Michelle, did you find that? Was it where I thought? Okay. I'm sorry. Thank you. Okay. Let's look at how long what time is it right now? What time do we start nine? We'll go for we'll go for a half an hour stop. Okay, where are we now? So I got it. I've got to disclaim something. You got it. Excuse me. See, yeah. I'm sorry. I'm looking for something to use for a while. So I am the most I'm not saying this with pride. I am the most technologically impotent person you'll meet. And it's amazing because I help a lot of very sophisticated technology companies who tolerate me.

1:13:32You know, I don't I mean, Michelle has people that keep me on social media, but I've never been on Facebook. I've never been on LinkedIn. I've never been on any. I don't know how to do it. But I help people because I say, look, I can't do that. but tell me what it's supposed to do. And I'll tell you how to articulate it. I'll tell you how to psychologically. And I've been very successful, but it's almost ironic. I mean, for example, and I told this to Michelle, I mean, I told you yesterday, I helped these young guys who were 26 who were brilliant. One of them is being mentored by Steve Cohen, the billionaire that owns the Mets. And he's friends with everybody. And he said, I'm going to try to get Sam Altman to have you mentor him. Sam Altman is the guy that created chat GPT. And I laughed and said, that's gotta be ironic. So he needs somebody who's grounded, who can mentor him. And I said, yeah, but I can't even turn on my chat GPT. By the way, we have somebody who's traveling. If he gets where he's getting, we're gonna have him do a little introduction on how to utilize chat GP for all your marketing. He's a very brilliant guy and he did a session where I was two weeks ago and it blew me away. So I'm hoping he can make it.

1:14:44traveling right now. Okay, so social media, if you're not using it, you should and if you don't know how you should have somebody help you. And as I said yesterday, I think for a lot of you, YouTube is really good for others. There could be other media. We've tried and we've never nailed LinkedIn. I have to tell you something about me, which is hypocritical. I help my clients start relationships, build them, you you know, can be called funnel building, it can be called farming, whatever you want to call it. At my age, I don't want to do much of that. I just want to go right for the economic hit. That's why we sell 25, 48, 200 against 1,000, really expensive stuff, because I'm just not at my point wanting to do it. But I'm a hypocrite. That's the way you should do it, because you build, build, build, and you've got to develop a, if you're selling something expensive or conceptual or out of the realm of linear thinking, you've got to basically, you know, stair set them up. So if you watch what I do, you'll say, Jay, it's totally, it's totally contrary. And I would say, yes, but don't follow me. I just, I know that it's not, I just don't have the energy. We've had great trouble finding anybody who could write copy in my image or voice and everyone we've ever tried writes hype and stuff that I just can't abide, I write it, usually, and I have a lot of time because I have 60 clients and I keep adding clients and purging

1:16:20that don't do anything because I'm pegged to the upside and it's just not what I want to do but you should all know to do that in all these areas you should be systematically addressing. YouTube I think is for a lot of you, SEO I think all of you should use somebody who's really good because that will give you the highest quality respondent. I can't talk about TikTok but I'm I'm told a lot of adults use it now. I'm very apprehensive about it for other reasons. LinkedIn, if you could understand it, there's somebody that came to us who reports that he's making his clients a fortune using it in a very unique proprietary way. We have used Facebook very successfully and very unsuccessfully. To give you an example, ads that we had that we ran that cost us about $12,000 in January generated 250,000. That sounds good, doesn't it? Ads that generated 250,000 that we ran in February generated no thousand. Very erratic. And I find it disgusting because I'll say, okay, rerun the ads. Well, we can't we have to teach it. We have to go through learning. I said, oh, he worked. Why just get it out there. And it just, I find the whole thing very frustrating. But if you're not doing it, a lot of a lot of people could with the knowledge you're getting from me, and how

1:17:46you integrate it, you could make these, these social media very, very effective, if you're going to build a long term relationship, we don't, and we're going to we're going to tell you some things we're doing at the end of we have time, paid search. You know, I have a client that sells very sophisticated, neuro driven, sophisticated sales training, And he gets 90% of his business from Google paid. We've never been able to make Google pay off for us. But I'm a very unique character. I'm not a typical, and I'm not charging typical rates. And I don't want to go through the process. This guy also does speaking, and he gets at least four gigs at about $20,000 a month from running special ads on Google for that. We've never done it, although maybe we should, except my speaking fees are $75,000, so it's a little different than somebody that's getting 15 or 20. But I'm just giving you things you might want to consider. And I just don't have the expertise. But I would say to you, it's very essential. I get frustrated. My wife is on Facebook, Twitter spaces all day long. She was on Clubhouse, but she now says that most people on Clubhouse are wildly offensive, so she's not on Clubhouse anymore, but she's on Twitter spaces

1:19:08all the time. She's on Facebook. She sends stuff on Instagram. The thing I don't like about everything but YouTube, and I said it yesterday, is it's intrusive, and you've got to be very quick. And if you're not good at being very quick to capture attention, you lose it in ways, Whereas on YouTube, it's the opposite. You do have to have a provocative beginning. But YouTube, they want that knowledge. Everywhere else, they don't want that knowledge. Or they might, but you're not there for that reason. So you are an interloper. You are imposing on them. So think about that next. Okay. So this is called, can one of you, I've got this silly little for me. I don't know what it is, but thank you very much, Scott. the golden numbers. Let's see the next slide. Did we have it? Okay, let's see it. So if you don't know these things, what does a prospect cost? What does a buyer cost? What are the different sources? So you have to know if you say, okay, it takes 10 prospects to get one sale. Now, that's a generalization. Certain media, certain ads might only take six to get one, certain might take 12, certain ones that take 10 to get one might bring in three times with the other. If you don't know those things, you're misallocating your investment and you're costing

1:20:40yourself. So you got to know that. What conversion average unit of sales? If you don't know that, you have to know it. What is or can be your LTV? And then the question is, how many ways can I increase it? What could I do to increase my LTV? And again, remember yesterday I said you've got about three ways. One is you create something less costly or intimidating to start a relationship, even if you don't make money, even if you lose a little money on it. Number two, you create something to add to whatever sales you're doing to increase the profitability by a huge margin. Number three, you create something to extend the frequency or the utility. Frequency means it's yours. Utility means it's a partner with somebody else. And you think beyond your limitations. For example, Dr. Mies, I think you have a lot of dentists, right? So you teach them implant? Is that it? Okay, great. So there's all these other things they need to do that you don't teach, but you probably could either do know or could source all the people that are special. I helped Dr. Gard and we're doing all kinds of things to ethically figure out all the other ways we can contribute, but benefit. But you think beyond that, they're going to buy from somebody and

1:22:12And if they do it on their own half the time, they're not going to choose the best. If you can choose the best, negotiate better terms, better benefits, better risk perversals, you are their advocate. And if doing that doubles or triples your LTV, that's pretty cool, isn't it? So it's a mindset. It is a mindset. I need to tell one other thing about this. And if they're watching, I apologize, but I have to tell the story. So I have a client. They're very big in ERC. You all know what the ERC is getting the money back for. If you lost money or if your business was down during COVID, but you kept your employees, there's money you can get. And some of it's very significant. And these guys are good and they are not the provider. They are a franchise or distributor of a big company, but they're very successful. They're doing tens of millions of dollars. And their deal is they find the client, they do the prep and then they pass it on to corporate that does all the heavy lifting and they get a share of the revenue. And their share is not equal, but they average about $15,000 profit per deal. Cost them about $50 to $100 to process it. The differential is what? $14,900. They've got a bunch of independent little finders referral sources that get 10% of the profit. They get $1,400 roughly. And they do okay,

1:23:42but it's an aggregation of a lot of levels. And I said to them, look, if you're willing to share equally, I can get you probably a ton of influencers who would do it as long as they believed in you and that you were ethical and a better choice, but they got enough that it was worthwhile. And they said, well, we can't do that. And I said, why? They said, well, we just you just can't give that much away. And I said, you're not giving anything away. They're giving you money you never would have had. So you're saying, if I get somebody that could get you $5 million of profit and you had to spend 300,000 to keep it and on the remaining four, seven, you wouldn't give them half because there were people you never would have had and you're just passing them to somebody else, you won't do it and they wouldn't. But I'm telling you, because mindsets can eff you up. I mean, there are people that have highly repetitive services and when they've been in seminars with me, I'd say, so if I could get you $15 million of first-time first-year subscribers, could I keep all the money? And they'd go, what do you mean? I said, can I keep all the money? And they go, no. And I'd say, well, if you know you're gonna get 80%, you know, second year and 80% of that third year

1:24:55and I'm giving you an asset that's probably worth another, let's call it seven times, You wouldn't give me the first year, all things being equal, assuming you had cash flow. And if you didn't have a cash flow, you gave it to me over two or three years and they didn't get it. I hope you guys get the implication of it. And I've been very blessed because I've learned from masters. I wish I could tell you that I came into adulthood with this knowledge. I did not. But I have, because I've been all around the world literally figuratively and I've worked with a thousand industries 300 exceptionally bright A grade experts, I have a ton of understanding. Now, the big problem that I have, which is quite sad, but it's also fascinating, I have enormous expert knowledge that I can articulate, I can document, I can teach, but the real advantage I have is what I call tacit. I talked about it yesterday. It's the experiential understanding, you're willing to look at something. That's why I prefer doing things where I'm one-on-one or and private groups who are working constantly on real world. We were talking to who he came to the $25,000 ones we do. And he doesn't even know about the 48,000 ones we just started. I'll tell you about it later, if I think I've earned the right. But, but he said, this is so

1:26:12much better. And I said, it's different. This is better if you want me to just dole out a bunch of knowledge. But if you want me to work on your strategy, your business model, your value, creation, distribution channels, your revenue system, it's not that good because I'm just giving you the ability to figure it all out for yourself. So it's a lot of different things next. So what's your lead cost? What's your conversion percentage? What's your average order? What's your profit for sale? What's your repurchase now? What could it be? Lifetime value? Allowable cost? You understand allowable cost? Okay, allowable cost. I told the story of ICI yesterday. I told it when we got 10 new $3 sales, we averaged $50 a person every year till forever because they just kept buying. And that included $50 for the two that didn't buy anymore because of all, remember that or not? Well, I was too ignorant. The guy that I worked with and for was seemingly generous. He would pay out $3.45. It cost us about 55 cents to act, that says long ago to make it and ship it. He would pay 3.45 to a station so they could keep the $3 and we'd actually send them 45 cents after they did an agrib, wouldn't send them each time. And I thought that was incredible.

1:27:37But if you think about it, if you're making $50 a year and you got that person forever, if you had good cash flow, you could pay $49 to get that sale and you still make a dollar in year one and $50 in year two and $50 in year three. and the key to allowable costs, nobody has a marketing budget. I tried to introduce that yesterday, but I may not have said it correctly. You figure out the relative current and lifetime value, you factor in your cashflow, and remember, all ads aren't the same, our lead qualities aren't the same, all types of buyers aren't the same, so you don't generalize. You may have an allowable cost to get people to buy phones, and you might have a different allowable cost to get them to get your apps or whatever. And for example, I have a company we're just starting out with and he is a reseller of all the networks, the Verizon. So if you have Verizon or you have AT&T, he can sell you what you got for 60% less and you can keep your number, you can keep your provider. Is that wild? But it costs him the same or more to sell you this phone than you pay. There's no money in it. But if that's what he has to do, he will lose $50 if he gets your $600 a year. So you have to understand there's so many cool ways

1:29:08to compete against people who don't think this way. That's the point I'm making. Is that landing on you? Good, next. So as I look at upside leverage, where you have so much more performance, profit enhancement capabilities, levers, there are a bunch of gaps that most people don't see. There's performance gaps, there's opportunity gaps, there's assumption gaps, there's yield gaps. Performance gaps for this purpose, is there another slide or just those Brian? There may not be. Okay, let's go back to the list first because let me do it in a different way. So performance gaps for this conversation, you can interpret any way you want is front end performance, not the conversion. You know, how is your front end performance impaired, constrained? How can you make the front end better? Whatever your front end is, whether it's a lead, whether it's a webinar registrant, whether it's a consult to your salesperson, whether it's a visit, how can you make the front end better? Is there a gap you're not seeing in what you're doing, how you're doing it, where you're doing it, way you're doing it. Opportunity gaps means you're not seeing opportunities and that's very, it's a very encompassing. They can be media opportunities, offering opportunities,

1:30:33product service, complement opportunities, partnership opportunities. Something gaps is a little bit what I talked about. Most people who are linear and I'm not suggesting you are, but you might have been before you were introduced to me, assume lots of things which aren't necessarily true. The first assumption is all you can sell is what you sell, that your audience, your market would not buy anything expansive from you because you have this very rigid, this very insular attitude. If you can break through that morass and you can test it, you will find in many, not all cases, you can sell a hell of a lot more if they trust you, and you can do a better service for them. And not always, but very often the tail can can wag the dog profit-wise. Pretty interesting, isn't it? Yield gaps means what you're getting out of what you're finally trying to monetize. How many ways can you make the offer better, the proposition better, the proof better, the offer better, more profitable? And it's just a way of thinking. Next. So, you know, the opportunity, what are the opportunities before the sale, during the sale, after the sale. I'll tell you a story, I forgot one more and it's pretty cool and it's probably appropriate.

1:31:56So when I was in the seminar business, I realized something nobody else did. There were all these companies running ads and entrepreneurs, success, Wall Street Journal, Inc., selling training courses for 10,000, to be utility, auditor for big companies you'd find overpayment or a payables auditor or a real estate tax auditor. And they were running, maybe spending a couple million dollars a year and they were getting a lot of leads and they were converting a very small amount. And I realized that they didn't realize the value of either of those dynamics. I realized that these leads were interested in something and they didn't follow through for one of a couple reasons. Price was too rigid in looking at the offer was different. They didn't think they could sell. They didn't think they could do it. So they go forward. So I went to all these companies that I haven't, I'm sorry, I talked so fast, I dropped my words. I have a concept that I want to prove that I want to finance. If you'll sign a letter that I will write, I believe I can monetize the sunk cost investment you have first and foremost in the leads that didn't convert and secondly in the ones that did. And they didn't understand it. I said, Here's my concept. They didn't buy from you, but you

1:33:13paid whatever $100 to get them to raise their hand. A bunch of them still want something and haven't done. Let me introduce them with your name to them. And let me make a proposition. Most said yes, and my proposition was like this. They would come from Brian Oney, the CEO of the Utility Auditing Institute. And And it would say, Jay, I wanted to personally write you, because I was so thrilled when you inquired about our training. And I frankly was very saddened and disappointed when you didn't go forward. And I assumed that there was a reason. And the reason could have been that the timing wasn't right. Our offer was not what your skill set or your interest was. Maybe our terms, we didn't have terms for you. Or maybe you didn't feel that you could do the selling and the delivery. And I'm hoping you already found an alternative, whether it was a business opportunity or a career retraining. But if you have not, I wanna introduce you to a colleague that has something I think is really meritless. He will teach you how to be a contingency marketing consultant. And you can do it anywhere, any way you want. You can do it to any kind of company. You can do it in your industry. You can do it for a fee plus. You can do it for a share.

1:34:34And if you didn't take ours because you didn't have the $10,000 allocated, this is the opposite. It's more, but he lets you pay almost all of it after you profit in easy terms. And he won't even let you consider doing it until he sends you a $2,000 grounding course that you can use right away to probably pay for it. Oh, and it's a five day training and he won't even deposit your check or credit card until after you've been through a full 50%, you have to go through two o'clock on day three before he'll even consider it a binding. And then finally, if you think, well, I'd love to do that, but I can't sell. No problem, he teaches you how to get people who can sell. Well, I can't deliver it. Fine, he teaches you how to do that. I can't do either. Fine, he teaches us how to do that. And we killed it. Then I went back and said, do you really believe everybody you trained are doing that? And you think if they're doing that, they aren't interested in doing something else because you think they're just making a killing, doing it every hour of every day. And we went back to them and said, hey, you did this, would you like to add to something else? You may not know this, but we're not restricted, and some aren't. There are many of the B and C franchisees

1:35:51who have five or six or 10 different franchises. If they're not restricted, they get the concept that the more franchises they can own and not operate, the more money they're gonna make. We had one one time, had, I think 12, he was making $2 million a year and he's playing golf all the time. He just had managers that he kept track of. Is this helping you? I'm trying to give you, I mean, this is about taking your business profits beyond exponential. And the driver of this is thinking differently than anybody else you compete against. Next. We already talked about that. Next. Okay, just some embellishment. You have gaps on how you reach your mark, on how you close sales, how you elevate your positioning, how you maximize all you do. You need to know what the sub-performing elements, activities are, and challenge yourself to improve them because it costs you nothing, zero cost, zero risk if you test them. And most of the time, some of you may be perfection and optimal, but the vast majority haven't come close in any of the myriad of factors and levers I'm introducing you to, to come close to optimizing. And each one of these. But I get enthralled. I go dizzily enthusiastic. This is not about you have to do all of these

1:37:11things to get improvement. This is the opposite. This is opposite. Talk too fast. This is about if you do one thing, it works. You do two, it's impressive. You do three, it's amazing. You do many of them. It's unimaginable. And none of they cost anything else. Little test, test. Isn't that exciting? Next. We already talked about it. Next. This is what you do. You close it back in. We already talked about that. Next. Okay. Let's take a, is this good? 12 minute break? All right. Come back and we'll continue the surgeon. Desiree, come on over here. I have to leave for a doctor's appointment for a few minutes at 1230, so I got to get this to a good stopping point.

1:38:50I'm sorry, my voice is going. Forgive me. Next. So, okay. Stop. Sorry. So, one of my big, big beliefs is that when I work on a client business, if I work on your business. First thing I do is divide it into two functions. I think I said it yesterday, but I'll embellish. First thing I do is maximize what you're already doing because you're already doing it. And most of the things people do aren't even close to optimum. So you maximize whether it's your advertising, your offer, your anything you do, because you're going to get more yield. only then do you multiply by doing a lot of different things that cost money and are experimental and oftentimes need to be course corrected. So it's a very simple mindset, but it's very powerful. It's like optimize and innovate, maximize and multiply. And I told you, Tony Robbins teaches my three ways as a foundation of his whole 10,000, not the whole thing he does, but it's the driving foundation of his $10,000 first level called Business Mastery. His second level called Business Mastery 2 is predicated on stuff he and I talked about 30 years ago. He calls it OptiMax, but it was just optimizing and maximizing, optimizing and maximizing. I've been teaching this for 45 years, but most people don't do it. If you are not like most

1:40:24people, you might do it. And I'm saying it with great hopefulness, as I said, is a driver of being free of it. My hope is you'll do it. And if I have time, I'll tell you I can help some of you do it. But if not, do it. I mean, just do it. Remember the Nike commercial. Next. All right. I already talked about that. Next. So strategic optimization is there is a concept called highest and best use theory. Very simple. But most people, basically that I observed, do the worst and the least. They really do and they don't know it because they have a worldview that's very restricted. But when you look at all the optionality, all the alternatives, all the possibilities, all the other ways to do, to say, to reach, to offer, to attract, to close, to enhance, to resell, to monetize, to elevate your brand, you realize that you probably are not coming close to the highest and best use. And the highest best use, I forgot the end, and the highest and best use theory advocates that you want to get the highest and best use of, now you can fill in as many blanks as you want, your time, your opportunity costs, your efforts, your capital outlay, your human capital outlay, your relational capital outlay, your intellectual capital outlay. I mean,

1:42:12and if you don't, then you're sub-optimizing. And I said this, I think, yesterday, and I'll say it today. I say this to people when I speak, and I say it to people in groups when I talk, and I don't do seminars much anymore, so I'll say it to you. I'm not the one who has dedicated my life, my hopes, my dream, my income, my asset expectation, my, my fulfillment needs my psychological sense of being my, you know, my connection to the cosmos to my business you are. So, I'm just trying to show you what you can do with what you've already got. And looking around, I'm much older than most of you. So most of you have 10, 20, 30 more years with your business. So you had 10 or 20 more years of X or X plus or multiple X. And obviously if your business is set up to sell that multiple could be worth a small fortune. I'll tell a fun story, I forgot one more. So Tony and I do these one day together, only one day a year and we do these interactions with his platinum partners and his lions. And they ask questions or they pose problems or they share underperforming opportunities and we go, and it's pretty interesting. But one person had the most interesting one. I'm going to tell you this because it was very interesting.

1:43:42They saw their business for a multiple that was something like three times what the market was because it was a unique business. And the acquirer gave them a really interesting bonus. They said for the next 15 months, if you can grow volume, we'll give you the same multiple on that additional volume. And they were asking how to do it. And we both came up with the same solution. We said, why grow it? If you can buy other businesses with volume for three and you can sell it for nine, just do that. So I'm trying to give you guys constant ways think differently than the maddening crowd. One of the mental models I use all the time, and I'll share it with you, and if I said it yesterday, I'll say it again, because I say a lot of things over and over, and I am a tension deficit and a poster boy for mad science. So I love the first Indiana Jones movie. Did you all see it? Did I talk about this yesterday? Okay. So, Indy is, it's about only 20 minutes in the movie, Indy is being chased down the bazaar by these two very, very dangerous looking guys and these funny hats, and he's trying to escape, and he slips into an alley. Do you remember that? And he thinks, I'm safe, but then as he walks down, it's a dead end, and there's that seven and a half foot giant spinning, I think they're called

1:45:05sitars, those great big swords, and you think for a pensive moment that Indy is a goner only, it's only 20 minutes in the movie so he couldn't be, but you don't think about that. He's going back and you go, ah. All of a sudden he goes, he takes a gut out and says, sort of screw that shit and goes pow. And that's a metaphor to me for what your thoughts should be. You are not constrained or dictated or mandated or governed by what everybody else in your industry does. You're only governed by how inventive and preeminent you can be with what you do, how you do it, where you do it, who you do it, or how many ways you do it, and that's pretty liberating, isn't it? Pow. Okay, next. So operation, optimization, optimization, Jesus, I'm talking too fast. An act, process, or methodology of making something as a design, system, decision, or decision, or decision, an optimal decision, suboptimal decision, crappy decisions, probably a whole gradient of decisions we make, don't you think? As fully, perfect. Sorry, functional or effective as possible. How are you going to know how to do that if your limited knowledge is just one industry and your referential point is what everybody else does? There's no way.

1:46:38That's why you've got to force yourself to travel outside or meet people who have traveled outside and pick their minds and use their understanding and question and get mentors from outside your industry to give you perspective. You don't have to embrace it. You might wanna adapt and adopt it. You might wanna extrapolate it. But the one thing you can't do is what everybody else does a little better and think you're gonna grow that much. You grow, but why do that if you can just explode and it's more joyous and you're operating a strata of understanding that's liberating, intoxicating, and nobody understands the game you're playing. Isn't that more exciting? This, to me, has been for me all my life. Next. You're psychic, Jay. I am psychic. Is that what you just said? I didn't even look at the PowerPoint. Okay, next. And we talked about that next. Okay, this is a good example. So, just to show you highest and best use theory. And anybody who's in commercial real estate certainly knows this, but maybe you don't. So if there was a beat up piece of crap, 800 square foot, two bedroom, one bath house on a magnificent lot in the heart of Beverly Hills for sale And I wanted to know what it the highest and best use would be and I wanted to praise an appraiser would not appraise it as a 800 square foot beat up house. Here she would say, well, what would be the highest and best use of that property is it a shopping center is it a high rise is it condos.

1:48:25Is it a shopping center? Is it a high rise? Is it condos? Is it parking? But he or she would say, this is what it's really worth when it is converted to its highest and best use. And as an exercise, you might say, what's my business going to be worth? In, in, in asset value in, in reach when I convert everything to their highest and best use next. I already talked about that next. That's all right. Next. These are just areas you can optimize. Next. That's good. I don't have time to do more, but you should look at them all. So that's really cool. I don't have time to do more, but you should look at them all, so they're really cool. And some of the things that I think are really relevant, I won't do it because I'm traveling tomorrow morning, but next week I'll try to pull some of the better ones and put them up for you, okay? So you have some references. I'll go through, because we've created an oversized PowerPoint we can't even deliver all of, because I wanted to see all the things I wanted to talk about and how I do it, but I'll pick the ones that I think are worth you reviewing, and I'll put them up for a while. So we never did this, but we prepared a whole training program on what we call radical rebound. And it was originally intended to give people opportunity

1:50:03that saw despair in the middle of COVID. But I've taken some of the topics and we're going to evaluate which ones still have relevancy today. Let's look at them. So this, I mean, the copy is a little weird, but basically it says, measure what matters and only what matters. Too many people look at too many things that have no relevancy. If I can get Dr. Alan Bernard, who's the World Authority on Theory of Constraints, on a quick Zoom, he'll tell you that most of the things people do don't matter. I mean, they may be impact factors, but on a hierarchy scale, there's usually only four or five things that matter many, many times more than the rest, but we don't really focus on what matters. So figure out what matters and focus on that first and foremost. Okay, this is a painful mission. I'm adapting this because it was created originally for COVID, but it's a mission. The world today is not the world it was yesterday. We've got a slide on what I'm about to say, but there is a book out. It came out two years or a year and a half ago called Range, R-A-N-G-E, and it's written by a guy named Epstein. I don't remember what his first name is, but it's really good. And his premise is paraphrasing. It's going to be a

1:51:31little different if you read it. It might not say it this way, but the people who will own the 21st century or what's left of it are the ones that have the most diverse understanding of the most things and the most experiences because hindsight, insight is not going to serve you because the world's changed. You get different dynamics, different mindsets, different attention spans, different impact factors, different vehicles to reach them, different optionality they have. So you're going to have to, whether you like it or not, even if you're kicking and screaming, you've got to adapt because you grow or die. You grow or die. There's no such thing as staying constant. It's scientifically impossible. You go this way, up, this way, neck. You multiply or you diminish. You grow or die, grow or die, grow or die. Yeah, tell a better story. Are you really elevating your brand, your product, your people, your impact on the highest level and the best ways that will resonate with your market? And this goes to what I hope I'll have time to do by the end, which is literally giving you some perspective on what value means to the other side because it isn't always what you think it means. So you might be thinking, wow, we have so much

1:52:52value, but they may not see the implication. You might know it so well that it's assumptions to you and it's implicit, but it's not explicit or dominate or denominated to them. Think about it. Tell a better story. And that has all kinds of different ways. A better story about what you do, how you do it, what it does for them, what went into doing it, the people behind it, the kind of results it produces, the transformative life it gives, and future pacing them, you know, why it's different, why it's better, why you protect them, why the risk is on you, whatever it is. Next. Yeah. Unite against a common enemy. Everyone feels like they're not being told the truth. They feel controlled. Everybody does. I do, you do. If you can figure out who the common enemy is, you're helping them, they're helping them, you know, what's the word, eviscerate. That's pretty cool. Everyone's got a common enemy. It can be competition, it can be, it can be Facebook, whatever your common enemy is, can be, you know, a bunch of interlopers who do shitty jobs that are like in the dental field, but nobody knows it because they're better marketers. I mean, who's the common enemy that you are advocating against? Next, let's see.

1:54:15So this was talking, go back, go back, go back. I didn't finish, sorry. So it's about a high performing virtual team and this is when everything was COVID. So, I mean, I personally believe and we don't do it well that you're much better off having people if you can together because there's much more human contact, collaboration. It's not, I mean, it's great but my kids who are very impressive and they have great jobs were home for COVID and they were virtual and they didn't really work their hearts out. They'd go watch TV and play video games in between and they'd stop at three because they were, two because they were East Coast oriented and they wouldn't go to 201 or 203 or 205. And I watched it with fascination, not criticism because I'm not they, but you don't have control and you don't have the same dynamic of human contact. One of the really impressive guys that I like is Dr. Ned Hollowell, the world authority on high-performing ADD entrepreneurs, business leaders, and salespeople. And he says one of the biggest deficiencies is what he calls vitamin C, but it's not the sun or oranges, it's connection. It's real connection. And you go, well, we're connected online, you're not connected online. That's, I mean, think about it.

1:55:38Even when you communicate, I don't even send emails very much because nobody reads them. I send these long, long texts where people won't call you back, they just read it. I talked to Tony and he never calls me, he just sends me a recording. No, but I'm talking about the world has changed. The more you connect with people, even though it's becoming more and more awkward and they don't know how to deal with it, once you break through the morass, it's very powerful, don't you think? Very powerful. So shock and awe when everyone else is hungry down. This was through the COVID, but think about it. If you are different and special in the eyes of your audience, how are you gonna manifest? You're gonna do things nobody else does in ways nobody else does it. And some of it can be useful, I guess, eye candy, if you wanna call it that. Some of it can be service and benefit. What are you gonna do to shock and awe? And remember, you have three clients. Everyone that, I find this amazing. Most everyone that has vendors tries to really squeeze their vendors. I've always said, let's do the opposite. Let's be the one company that supports the vendor, wants the vendor to make a fair profit because if we do that, all things being equal,

1:57:05there's a hundred people in there and one is really being great to them. Who's going to get the advantage? Who's going to get the intelligence? Who's going to get favored nations? Who's going to get everything? We are. But now we're going to squeeze that supply chain. We're going to get every dime we can. And that's dumb, I think, if you're trying to be strategic and preeminent. Next. This is good stuff. I have to modify it. That's good stuff. I haven't looked at this slide for a year. So become an essential business. Enter new markets, change old habits, think outside the box, future proof your business. We have, and maybe I'll do it because I got to see the repercussions of what's happening with the debt ceiling and what's happening with the quarter point interest rates because I have a book we sold a thousand copies of of a thousand dollars a piece called recession proofing your business. And we did it in 91 or four whenever it was a bad recession. And we reissued a version of it for Tony's people, but it needs to be updated. We have a whole program I was gonna do a couple of months ago when I thought everyone thought we were gonna go into a recession. And then the attitudes didn't seem that strong, but we've got all these things to do.

1:58:24And I don't know, we put a few of them at the end of this, which I may get into, but it's really cool, but you have to have a future proof, recession proof, competition proof. How are you gonna do it? You can do it. I mean, honestly, from my heart, if I said I'm done and I walked out the door, I've given you more than you can do in a lifetime. Do you understand that? I'm gonna give you more, but I'm saying what you do with it is what's gonna determine how you do. And if you do nothing, that will be a tragedy, but it is your prerogative. Most people do nothing. There's terrible, terrible research, and I haven't looked at it lately because of online, it's gonna be different. But something like 80% of the people have bought programs and books never opened them, listened, watched or read. 80%, their attitude was they felt good doing it like that alone was a really great gesture that was going to through osmosis, gonna transform them or it was an insurance policy for some day. 80%, 80%. Think about it. You wanna hear something really fascinating if you can remember when we used to have bookstores, if you'd walk into a bookstore, you'd have a wall like this of books like psychology, relationships, sexuality, spirituality.

1:59:46And then you'd go in there and be this little tiny thing on business because so few people cared about all the skills, all the knowledge, all the impact factors that could make that life investment pay off more. Isn't that ironic? It's very interesting. So most people in business didn't go into business to be entrepreneurs. They went into it so they didn't want to be controlled in a job. And they're not good business people. They're not optimizers. They're not strategists. They're not value creators. They are literally unintentional proprietors sucking economic oxygen out of their market. They're not adding any value. It's a pretty interesting metaphor, isn't it? And the question is, are you or have you been? And it doesn't matter what the answer is, but you don't want to be. If you haven't been, congratulations. If you have, stop it. Throw logic out the window. Collaborations that defy logic. Anybody here a platinum partner with Tony? Okay. If you were, we did three weeks ago, a two-hour presentation on buying businesses and blowing them up and then selling them. And I have these 97 concepts. We won't get all of them for you either, but I'm trying to give you the big ones, so you'll have them. And we only introduced three, and one of them was just

2:01:09getting super colossal focus on doing power partnerships, strategic alliances. And I did research and something like 30 or 40 percent of the big corporations do it. It's the highest, fastest growing area. The biggest company that does affiliates has something like 280,000 affiliates. Microsoft gets something like 80 percent of one of its big income sources from partnerships and yet we don't do any. We are basically, I'm saying we as a generalization And we're going to try our darndest to give you the 43 ways that you can use partnerships. I've got a whole three or four days on it that I do. And when I work with private clients, we try to make that a primary area. But for you all, you should not think it's me against the world. You should think, how can I take advantage? Including if where you operate is not the whole world. If there's someone else who does what you do better, you should see what they're marketing, their selling approach, and go to and say, can I license it? Can I partner with you? Can I use your methodology? Because why recreate the wheel? I'll tell you something hilariously sad. I do 4,000 people at a very low price. I think I told you Mastermind every month in Japan. I've had them all over the world. And they'll ask me questions about something, and they're usually

2:02:40markets that are behind the US. And I'll say, why don't you get somebody who speaks English to go online for, it can be Facebook, it can be YouTube, it can be, it can be not Amazon, but it can be Google. And look at the most successful advertisers and either model what they're doing, get it translated to your language, or call them up and make a licensing deal, because most of them are never going to be in Japan or China or whatever, and nobody does it. Go outside. Interesting idea. Nobody does it. So they'd rather try this. And every month, they'll have the same lament. And every month, they'll say the same thing. And I'll ask, who's done it? Nobody has done it. And I'll go, these guys are spending a fortune. They'll test at all these things. They're four years ahead of you. If you get this as a story, you all know what infomercials are by now, right? Everybody knows what an infomercial is, you know what it is? So when infomercials first became legal, they weren't legal for some reason, the FTC approved them in the United States, but they were not approved anywhere else in the world. I used to do all these really cool training programs in Australia. And one time a guy came and he was the number one long copy direct response advertiser, but long copy minute,

2:04:02two-minute commercial and I told him if I were you I'd get a hold of all the infomercial companies and get the rights to all their successful infomercials that they spent millions of dollars creating and make a deal to get the rights to buy from their inventory and just put it in advance until you get legalized and he did that and as soon as the first year that it was legal in Australia and New Zealand, he made $23 million just using other people's infomercials. He just sat in the can for a year. And I've told that kind of thing to hundreds of people and only one or two do it. I'll tell you one more interesting story. Do you like my stories? I like my stories. That makes me laugh. True story. Robert Allen and Mark Victor Hansen. Robert is a real estate guy. I think he's still alive. I haven't kept up with him. He was very hot in the 80s and the 70s and early 90s. Mark Victor Hansen was half of the team that did chicken soup and the salt. They were partners for a while and they came up with this cockamamie, absolutely crazy idea called cracking the millionaire code. The concept was we're going to teach people to have no business, no money, no skill set, how to make a million dollars in a year for no investment. And they serve the concept to Random House for a million bucks, but they had

2:05:27nothing. And so they decided, this is pretty clever, they decided they were going to do a $5,000 seminar teaching it, whatever came out of it was going to become the book. And they called me and said, guess who's going to be our lead conception? We're going to let you figure out the big idea. I said, oh, Jesus, okay. So I spent a lot of time mentally squirming. And then I came out with an idea, and I introduced it, and this is many years ago, but I said okay, let's take a bunch of major categories on Google, and we had a big screen, and I said let's look at a bunch of the top, not the top people, but let's go to the second, third pages, and let's see all the providers who have what I'll call an arbitrage gap. So So one person sells a book, but he or she has nothing else. They don't have a training program. They don't have a coaching program. One person has a coaching program, but he or she doesn't have a book. One person has a coaching program, but they don't have a seminar. One person has a seminar. I said, let's figure out who they are. And if you connect them and you insinuate yourself in the middle and get an arbitrage play, it could be huge. And we just, I showed them now, 30 examples that it was real.

2:06:46There were approximately 250 people in the room. 249 thought it was bullshit and they did nothing. One woman did it and she called me about seven months later and said, I made a million six in my first six months. But part of doing is believing, don't you think? I think Tony says it and I'm not gonna do him justice. It's beliefs drive behavior, behavior drives results. So if your beliefs are skewed, and I'm not suggesting you do anything dangerous. As I said, unfortunately, most people do. They get a wild idea and I've been guilty of it and they piss away opportunity costs, capital, resources that could be deployed other ways when you can validate or invalidate an assumption pretty damn easy if you're so inclined. Next, yeah, be a hero is not appear large in the life. Everyone thinks I've got billions of dollars. I'm very prosperous, but my brand has been purposely elevated to the point that I have an almost mythical presence online. online. And almost a mythical presence. I mean, I don't know young people, but almost every in every qualitative expert, not the ones that are doing stupid things on tik tok and things like those those influencers have no, no influence on, although one of the top ones on tik tok for about a year, let me mentor

2:08:27him. And it was, it was very difficult, because they were two years 18, and they were making millions of dollars a year doing stupid things and I couldn't abide it. But what I was going to say is that, that I have built a presence that almost every expert would know of me. And I could pick up a phone and even if I don't know them, they would be they would take my call and be delighted because they think of me as bigger than life type of a mythical person. As I said, you can ask my wife or anybody that works with me. I am not. But that's not the point. If you can elevate without it being arrogant or condescending or hyperbolic, all things being equal, you're playing a game where you want to wait advantage ethically in your behalf and disadvantage in behalf of your competition. In many ways to do it. We have something called the maven marketing manifesto, and I've got it here and we'll see if we can get to it. We may not, but I'll put it up if we don't next. So this is not original. This is a gentleman who's very bright. He's an executive coach. She does it. He did the turnaround of Adidas. He does the CEO and the CEO. I think Nike, he did the head of the Department of Defense, the CEO of the New York Stock Exchange,

2:09:55really big influencing guy, and he's a colleague. And he's got this concept that you're either a multiplier or a diminisher in all forms in business. You're multiplying your market, you're clientele prospects world, you're multiplying the success and the possibilities for your team, you're multiplying lots of things or you're diminishing. Next, do we have a list? So, but what does it mean? Next, I already said that. Next, yeah, so I already said that, next. Yeah, so the true entrepreneurs are the driving forces and positive about people in their industries or negative. They love change, but how are you dealing with your people? Do we have a list of people about the employees? Okay, okay. So a diminisher, not a multiplier, can start with great people, and you can basically, you can diminish them emotionally, confident, growth, collaboration, because you're a dominant force, because you don't give them a voice because you basically know it all because you've got a dictatorial to autocratic environment. Next question. Do you increase and multiply the passion, the performance, the communication, collaboration of your team, or do you tear it down? Are you siphoning cash out of your markets momentum because you want your lifestyle

2:11:31and not really using it to invest in greatness, great people, great infrastructure, great marketing, great value creation. Are you making a huge positive impact, a negative or nothing at all? Are you neutral? Are you the, we'll call it the neutral entrepreneur instead of the exponential entrepreneur. Next. Are you a value creator or a commerce siphon? Are you truly adding innovative value to your market? If you can't answer, then you probably aren't innovating or adding, and you got to do some soul searching. Part of this is designed to inspire and also question. And the question has got many fast squares questions. Do you agree with my ideology methodology thesis? You don't have to. You can agree with some of, none of it. If you do agree with some of it, most of it, all of it, then you have to do soul searching. How do you got to overlay it? How do I conform? How do I measure up? We have a, I think anybody who's ever been a client, I have this 200 question assessment and it's got two parts and the last part is 87 questions that have points that you put. And the title is, how does your business really stack up? And I would ask you to ask yourself, when you're done with this, when you drive home, talk to people tonight,

2:12:57fly home, whatever you're doing, how does my business, how do I really stack up? Am I an exponential entrepreneur? Am I a preeminent business? Am I a value creator? And only you can answer it. Next, Gabe. So the biggest success is, this is also a different, I said, you're solving the most amount of problems and making the most opportunities possible, but it also, as you're doing the most breakthroughs in marketing, managing people, innovation, strategy breakthroughs. And if you're not even doing it and any things are thinking about this, remember what Perry said yesterday, you gotta really spend some time on it. Next, you look outside your organization for new ideas, approach as innovation ways to motivate, to maximize, to grow, develop your people and your relationship with your clients, prospects. We have a segment. I will probably just lightly introduce it because it all these can take a long time and I don't do these very often. So I got to get out of the rusty dome, but we have a concept on greatness that every human being with little exception is pre-programmed in their DNA. every one of you, and actually every one of your team members to be great, you know, great human beings, great husbands, wives, fathers, mothers, team members, and yet the vast majority of people

2:14:31are mediocre. And I always said, why? And I said, I don't think people that you think are laggards come to work thinking, I'm going to underperform today and add no value whatsoever. I don't think they know better. I don't think they know how. I don't think anyone has ever helped grow and develop their capabilities or willingness. Now, does that mean everyone can go from here to there? No. But if you take people relative to their growth and developmental capability from here to here. That's pretty profound, because what this whole two-day experience is about is how do you work on all the exponential factors in your business, isn't it? And one of the greatest gaps, look at the research, is team performance. Most people only get about less than 25% of the performance capability of the team, and it's not really the team's fault. And there's two ways to look at this growth and development know also systems. I was influenced as I said years ago by the Deming organization father of optimization. And he had a phrase that I really reflect on from time to time. He said, almost nothing is a people problem. It's a system process problem. If you don't have a system to grow your people, if you don't have a system to keep improving,

2:15:59if you don't have a system to work on all the soft skills that can make them quantum times more efficient, effective, powerful, collaborative, you have no right at all to criticize them. They go into the world, I was thinking about my own life and I came from a very loving background, but they didn't try to teach me, you know, how to really a love for growth and development. They taught me basic things and not even proactively sort of implicitly just through osmosis. So I go into the world. I mean, I could have, no one in my family ever achieved much of anything. And I don't mean that negative because they had no aspiration. They didn't know how to do it. They didn't believe in education. They did not believe there's nobody had done it. I happen to be an aberrant, wildly different member and they always thought I was crazy and destined to be a transient in business. But I'm saying a lot of people don't, you assume that they have this great work ethic. You assume they know how to be productive. You assume they know how to prioritize. You assume they know how to be efficient. You assume they know how to communicate. Well, you assume they appreciate each other. That assumption is very dangerous, very dangerous. Next, I talked about that.

2:17:33Are you recognizing, understanding completely the possibilities to grow and support the ability and effectiveness of your team? That's what I just said. Are you open-minded and humble enough to take breakthrough ideas and concepts from within? I mean, the truth of the matter, truly about 15 or 20% of the time when I give perspective and advice to clients, one of the team members will say, I've been saying that for years, but the boss, they won't call him the boss, but Sam would never listen, he'll listen to you. And that's tragic, don't you think? That it would take three years to do something that is self-evident and could be tried conservatively and validated or invalidated? But because it didn't come from the head, he didn't, or she didn't really embrace it. They discounted it, they dismissed it. So sad. Are you open-minded and humble to take? Okay, I said that, next. You make everyone around you feel smarter, appreciated, and more capable. Remember this, and this is the fallacy of small, medium entrepreneurs. You're playing a game in your mind for yourself. You're driven, you got all these things. What makes you think everyone who works with you isn't playing their own relative game? Their hopes, their dreams, their fears?

2:18:50And whether you understand it or not, they are hitching their wagon to your star. And they're no less important, even if they're paying them 50,000 and you're making 5 million. They are human beings with the same relative importance that needs to be acknowledged, nurtured, nourished, and recognized and appreciated. Can you encourage effective collaboration? Very few small companies have good collaboration. the entrepreneurs or the proprietors stick people into more of a silo type of arrangement where they don't even have any connectivity to one another. And it's just, it's actually very unfulfilling and stressful. And I believe we do a lot of stuff and Desiree is not here but we have fun, don't we, Cheryl? Yeah. Yes, right, yeah. Good answer. If she said no, she'd be fired. I wouldn't even tolerate it. because I'm autocratic. Do people you work with respect you and feel that they are accomplishing meaningful work? Meaningful work. There's some research recently that said that's the biggest reason. People, what do they call it when they still work but they do the least? Why quitting? Yeah, they don't feel meaningful. They don't feel appreciated. They don't feel part of anything that's significant. And it's not incumbent on them to do that

2:20:18or to create that, it's us. That's why they leave. They just don't feel it's worth it. They don't appreciate me. I'm not doing anything. I'm just going through the motions. I'm not really part of anything really epic or meaningful. Do you demonstrate preeminence internally? Preeminence is not just a concept. It is a philosophical strategy, a strategic philosophy that you live by, properly embraced into integrated And when it takes root, it's how you live your life and you are a perpetual demonstration of it. Next. Go ahead, next. I see you're growing up here. Crowley wants to carry, he said that. Okay. What time is it, please? So we're at 11.41 and I, I mean, this is like not just the 93, it's everything. So we are facing this. Yeah, I'm gonna skip through this, but I'm gonna give you three or four great ones, okay? So I talked about referrals yesterday. I talked about how few people really know how to get them. We have 125 ways, I think. They're not all perfect. They're great. No one's gonna do 125. No one's gonna do 100. No one's gonna even do 25. Most people don't do one. If you have one or two and you added one or two more, it could double your referral business, which is the most profitable, the most significant,

2:21:48the most enduring, and the most enjoyable. And they co-refer other people to you. There's many ways to do it. So just a few that I love. The most impressive and the most difficult is making referral generation a condition of doing business with you. And it's hard to do, but it's very powerful when you elevate yourself. So if you say, so what I have certain clients do when somebody contacts them, irrespective of the source, they'll say, well, who referred you? And they might say, no money. They say, oh, well, that's unusual. Our business is a referral generated business program from the beginning. Almost all our business comes from satisfied clients who we've helped who care enough about other people like-minded or people in their lives who they want to see have the right source and they refer, but hopefully you'll become one when we deal with you. And then you program them for that. And then depending on how you do it, you make doing it. And this is a great, do you know the story of the dental, Dr. Mee, do you know the story of the dentist in Australia that did it? Yeah, I was there when they started that thing. I'm showing you how old I was, but this guy was pretty cool. He was a dentist who, from what I remember, and if I tell the story wrong, it doesn't matter. It's the essence.

2:23:12He was working like 50 hours and making 45 grand and miserable and depressed and ready to kill himself. And one day he decided, I'm not going to take this anymore. And he actually went, took a buzzsaw, took his whole office, cut it down, turned it into what he called salon's little booths, decided he was going to stop having the crappy patients that didn't appreciate oral hygiene, didn't show up, didn't pay their bills. bills. He changed his pricing model. He locked his front door. He put a sign out saying, by referral only, when people would call him, they'd ask who referred, and if not, he wouldn't take it. He sat down with all his clients and told them that from this point forward, this was a referral business, and if you weren't comfortable referring two like-minded people to him, every six months he would prefer not having you, and he would help you find another dentist. And it goes on and on. And when somebody would come, he wouldn't initially take him into the examination. He would sit down and have a cup of tea with him. He had a bakery built that did croissants and things. It was pretty wild, but the guy went from making that to about a half a million dollars. And I don't know if he's even alive. Then he taught

2:24:24it to a lot of people. And when we did the interview, and I'll see if I can find it, because it goes back to the, I don't know if it was the late 80s, when we did this, when I was interviewing him, I made a point, I said, if you don't respect yourself enough to hold yourself to a higher standard, not arrogance, not condescension, how can you expect anyone else to? And then I'll tell you one more story, which is true. Back in the mid 80s, I did so much credit card sales that we were the number one processing client of our bank, which was a predecessor of Wells Fargo. And every week the bank manager would take me to lunch. And it so happened she was very attractive and very interesting and a divorcee. And she wanted so badly to have meaningful dates and she never did. She was interesting, she was good looking, she was fun loving and we'd go to lunch And all the time, she'd lament that she couldn't get dates and she had all these people and nobody got her any kind of dates. And after about three months, I got a headache. And I said, okay, I'm gonna give you a strategy but you gotta understand what is driving it. The people in your life who regard you, they want to see you happy.

2:25:57They want you to have quality dates. They want you to have romance or social activities. And the reason they aren't helping do that you're not helping program them. You know, what is it called the reticular activator? Yeah, do you all know what that is? So if you buy a red car, all of a sudden you start seeing all these red cars on the highway. So I said, why don't you try this? When you go back today, why don't you tell everybody you interact with that that's appropriate, that you had a friend tell you that maybe you weren't helping the people you're going to talk to help you find really great dates. And why don't you frame for them who they are, what they are, why they are, you know, the age 35 to 50, the person, it's a professional, but not necessarily a millionaire, you know, what, what they look like, you know, they could be reasonably attractive, they don't have to be an Adonis, what their interests are, you know, they can drink a little like social, not smoke, like sports, but not a fanatic, exercise people, they must like restaurants, movies, whatever it is, okay, where would they be? They may be somebody that your friends know who got a divorce, but they know it was on terms that wasn't, he wasn't a horrible

2:27:18person. Maybe it's somebody they know in church, you know, and I give every kind of criteria to then give them to help isolate, identify who they knew and why and what it would be like. And it it would be a fun lunch or a fun dinner or a movie or a phone call. I gave him every scenario positive. And she went back and I didn't see her for a couple of weeks and I came back and she said, Jay, the first week I had eight days. True story. So the point I'm making is that you probably have a lot of, if you don't get referrals and you're in any kind of business that should and there's only a few that wouldn't. I mean, maybe some private thing, cosmetic surgery, you know, erectile dysfunction. No, I'm serious. There's very few things that you shouldn't get referrals, don't you think? And if you don't get them, question it. If you get them, you're not getting, you promise you're not getting all you deserve. And there are many ways to do it. One is if you want, make it a condition of doing business. I've had clients that tried this, and when they did it and they did it right, it worked. They had two different pricing schedules, one with and one without referrals. Give me referrals and I'm going to give you a discount

2:28:35and I'll pre-give you the discount in expectation you're going to do it. I've had clients that gave their, I mean, I've had my clients that gave their clients gifts in advance for the certainty of the referrals they knew they were going to give them forward. I've had clients that did events where they literally brought people in and said you can bring up to four guests, whether it's a movie that they bought the theater and they were, you know, the first it came or whether it was a golf tour. Now I'll tell you the other two things that are kick-ass cool and I've said this to everybody that I talked to about this. Would you like to guess how many people do it? Okay, these two things are related and they're so cool. So, we have a mastermind it's 48,000 it's got three or four gradients that are really cool time allowing I'll tell you about Tony's got one it's 150 or 85 he's got to you've got one what is it 90. You've got one, what is it, 90? 85. Okay, but here's a really cool, if you want referrals, what if you created masterminds either in your market or with influencers and you organized them and you bought it for them? And you explain why you did it. We're gonna grow your business because we know you'll get that.

2:30:00Anybody ever been a member of a BNI or any of the referral generating networks? Raise your hand. it work? No. Who said no? Okay, who got any benefit from it? And so it cost two, three thousand, four thousand dollars. How many referrals did you get? Okay, so there are three or four companies that do this and the model is they put maybe 20, 30 people together that are not competitive, right, but are in positions they can benefit each other and whatever the frequency you get together for lunch or breakfast or dinner and each person sort of tells what's going on and lets the members learn about them and their you know their company their product service their ethos and Nicole is by doing that sort of passively they're going to get referrals and you know the research by one says they're going to get you know 50 referrals a year I don't think it's that but you're gonna get some. So here's a concept in a nutshell. What if you, I'm gonna give you three variants of this, what if you go to people who would be influential for you and you created your own equivalent of a referral system on steroids but you didn't charge them, you created. Now if you happen to operate in a city that had a great population and a reasonable commercial population

2:31:28businesses. You could create 20 of them or 30 of them that you ran and you bought it for them. They just had to pay their incremental amount for coffee and bagels. And now you are the hub of it all. And if you can't do it, you nominate somebody to represent you and do it. You can have 100 of them if you wanted to. Another variation of this that has worked very well for my clients, but works zero for the people that don't do it that I share it with, which is thousands of people who listen and done nothing with it. You are here at a $15,000 event. Some of you got to pay less because you were guinea pigs and you worked through it for three years, but this is an expensive event. You traveled to come here. Most entrepreneurs, business owners, professionals don't understand the value of expertise. You do. Expertise converted to action produces success, doesn't it? But most of them don't. So what if in your relative market you found all the companies, all the organizations, all the, anything that could be a referral source for you or a reciprocal source for you and you bought them the kind of knowledge distill that you pay for it. I mean this is where the one-eyed man in the land of the blind is profound. I mean we've

2:32:55given away over a million copies digitally of my book. We don't care we just started it's not quite launched. We're going to do a reading room where I'm going to give every month one of my books digitally because I'm going to read read with them because we want to build a huge database that we can use for other things and then model it for other, but what if you, and here's how you do it, I'm going to give you the way you do it locally. You can do it in any application, interpretation, in your industry-relevant influencers, but you say, look, you're somebody that deserves to be much, much greater, more successful if it's an inclement environment like a COVID, you deserve to be successful and not be afflicted this much, and there's a lot of things that would help you, and I know them, and you don't, and I'm going to invest in your business now, and I'm going to basically buy you knowledge, expertise, understanding, marketing, you know, management, whatever it is that will help you be more successful, make more money, save more money, and I want nothing from it, but there is a hope in the back, and you program the expectation, then as you get to know me and as you see the contribution we're making you would feel good about

2:34:09when and as you see people who would benefit from me really referring them and this I've given this to the real estate market they don't do it I've given it to the medical they don't do it but but these are three or four we've got 125 that have all worked but there is a there is a rub They won't work if you don't work. And that might be your sign on your on your refrigerator on your toilet seat on your beer in your car next. Let's go past referrals because I got to leave right at 1230 I've been a real mind if I don't. So, okay, this is going to be huge what time is it right now. Okay, so we have a half hour to get some of this stuff. So there's many interpretations I have of this, they all converge together. There's power partnering, strategic alliances, joint venture, endorsed relationships, being the recommended provider of a group organization. How you do it is different, but that you do it is significant and another approach is the unlimited business checkbook. that presupposes whatever you think you are devoid of resource-wise, somebody else has, always. And if you can show them how, why, and that, providing that resource to you on some kind of a correlation where they get paid on results, it's to their advantage. You can get anything

2:35:40you want. You get technical, and you get offices, sales forces, you know, booth space, anything you what? As long as you can correlate it and give somebody proof that by investing that in you, they will get an outcome that is equal or exceeds what they're getting or extends past what they're normally getting. I'm giving you the abstract just so you have a foundation. Click. Next. I already said that. Next. Next. Let's just go to the list. Okay. Stop. Go back. So. So, all right, let's just go to the list. So I'm gonna give you a list of 43 ways, nine major benefits in 43 ways you can use this, and it's only one gradient of what we know and teach, but this would be good. So you can use it to achieve advantages of scale, scope, and speed. I mean, I told the story, I built a quarter billion dollars over a few years without having much infrastructure and very little capital because I leveraged other people's distribution, relationship endorsement, not just in the United States, but on three or four continents. You can be anywhere. You want to be in another market. You want to be in another city. You want to be in another part of the world. It's all available to you. If you understand how to collaborate, partner,

2:37:04joint venture, get endorsement, become the recommended provider, any and all combinations. Next, you can increase market penetration. I mean, think about this. Nobody can know you today, but you can go into a market where they really know and trust somebody else that's a complementary brand, and all of a sudden when they endorse you, when they promote you, you automatically have massive credible market penetration overnight. If you did it yourself, you'd go into the market, it would take years, you'd have to pay for advertising, selling, you know, all kinds of events or facilities. But you don't have to do any of that if you shift and you go pow like Indiana Jones, let's say, screw that shit. Next. you can enhance your competitiveness in local, national, international markets. I mean, if you're competing the old way, like running ads and trying to build credibility, it's one thing. If you've got somebody who's already spent years, hundreds of, I mean, tens of millions, millions, hundreds of millions to create a relationship and they, they, they anoint you continually and you know how to, and it's just understanding it is one thing. executing it is very important parenthetically back in the dot com days everybody had a partnership

2:38:27with everybody and no one did anything because no one really took control of how to optimize execute monetize and and maximize and sustain those relationships but you can be anywhere overnight you can enhance product development other people can give you products other people can collaborate with you. Other people can license their methodology, their technology, their systems, their processes to you, like the lumber mill or the car wash or vice versa. You can develop new business opportunities galore through products and service combinations. You can make your product packaged with somebody else. You can make your product the lead for somebody else. You can make the product the lead for you. You can make your product a free addition because you know as long as you get the name, it's the cheapest way you're going to get quality people. You can do any combination you want. You can create new businesses that will. I've told you just a few of the ones I did just by being able to leverage off of other people and the arbitrage, meaning the opportunities and the correlations implications and money connections they didn't see existed within their own world. Next. You can get control of intangible assets that organizations don't even know they possess. You can get the rights and then flip them.

2:39:48That's why I'm looking. We did a whole program called Mastering Passive Income once and I created 10 profit pathways or prosperity pathways and you get control and flip it like the guy I told you about with the flea market and these have two different aspects. The main one is your business but if you passively, how many people passively invest in anything? Raise your hand. Stocks, real estate, crypto. So if you do that, what kind of returns are you happy with? Just yell it out. Ten percent. So think about this. If there are 200 ways you could get control of a business using very little of your own money. And there are 97 categories that you can blow up even so that it will easily, if you select correctly, it will easily service the debt and raise the profitability and the value so you can flip it. Or you can add those businesses to your business to dramatically enhance profitability, value and revenue and profit. And you could put somebody out in in the market for a base of $7,000, $8,000, $5,000 and give them a piece and you didn't have to do anything but your returns because you didn't have much of any capital outlay were in the infinite numbers, not the 10% numbers. Would that make sense? It's sort of

2:41:19interesting, isn't it? You can use Strategic Alliance Joint Ventures to sharply reduce cost, increase profits. Right now, if you're spending a fortune on advertising and you're getting a very low conversion, or you're spending a fortune on salespeople calling cold, or you're spending a fortune on traveling everywhere trying to get business, and you can shorten all that by tying into somebody who's already done that, got that, has trust, has access, has salespeople, is that cool or not? Next. There are things you can afford, you can't afford to do on your own, but when you joint venture, you eliminate the cost or you share the cost. Next. Okay, you can harness my relationship with my voice, take economic strategic advantage of your own company's unused relational capital leverage. You might have access to markets, audience trust, methodology, salespeople, relationships with other people that you can utilize for other purposes and get half of the revenue or if the revenue that is generated is highly repetitive. You can get all the front end and half of all the recurring. It's how you negotiate and how you understand it. Next. You can harness my relational capital multiple ways. You can utilize your company's personal contacts and mine third parties. I

2:42:41told you that. You can be a matchmaker, deal finder, put deals together and put yourself in the middle. That's what I used to do. I used to get 25% from both sides fully disclosed by putting deals together and matching people that didn't see it. I made more than they did, ultimately, because I had none of the overhead. I had none of this. So very interesting. Next. 43 ways. We're going to go through as many as we can, but you got to hit me right at 1230, because I have to leave. Okay. So first thing is strategic alliances, joint ventures, resource leveraging deals. Once you understand the dynamics, they're very easy to do. I'm going to give you an embarrassing admission about myself. And Desiree would tell you, Michelle will tell you. I make deals all day long and I forget about most of them because I don't write them down. But I can make deals on the fly with anybody because I can see it. And always they say yes. I'll say, hey, let's do something to your database. I'll create something. I'll do it for you. Okay, do it. Then I forget I've even done it. it. They're not that hard to do when you have the knowledge, the confidence, and you see the opportunity, and you understand they always will work when you put the interest of the other side

2:43:54first, always. They'll add your own selling effects and power of geometry. So if right now you're selling X, but you can add 30, 40, 50, 150 percent more sales with very little of the the incumbent fulfillment costs that you're spending now, a lot of that comes to your bottom line, or if it doesn't all come to your bottom line, it's many times more profitable. And it's variable, you're not having to pay for it. As I said yesterday, when you tell me it costs X dollars to fulfill a sale, that's based on your current economics. It doesn't cost you X dollars to add one more sale or 10 more sales. could be three or four times more profitable. It increases your sales massively and thus your profitability. I said it lowers the barrier of entry. Now you want to enter markets, you want to enter new industries, new professions, you can do it overnight by somebody's strategic alliance joint venture that already has it, and overnight instead of trying to get them to take you serious and switch alliances. If you partner with somebody not competitive but already has the pre-evident position in what they do with the same audience, what does that do for you? Pretty cool don't you think? What it did for me was create 250 million dollars of seminars for an outlay, a fixed

2:45:23outlay of about 300 grand and it gave me dominance until the internet came. Until that happened nobody could touch my brand. Now I don't do a lot, so there's probably a lot of people, but for 20 some years I owned the entrepreneurial market at the high end, because I had all the people that owned access to the high end entrepreneurs telling them that I was the best thing in the world next to sliced bread. It boost your market presence just what I said. I mean, so here's a concept. And I'm trying to do something with Brian, we did an experiment. It didn't work the way I wanted. And I told my daughter and I told another colleague that I'm fine trying to do it again, even if it doesn't make me much money or any money. And they say, why would you do that? And I said, okay, if I can promote webinars that somebody else can do, and they'll break you. I don't make any money for them, but I'll lose anybody. And I'm getting, you know, 5000 registrants a month that some salesperson can do something with, or I can be an affiliate for, and I'm getting my brand elevated all over the internet. What did I lose? What did I lose? What did I gain? What did I lose? I gained brand stature. So when I do a speaking gig for somebody, I do something no one else does. Most speakers

2:46:47will command a big fee and they give you their bio and they show up and they do their gig and they leave. When I do it, I ask for the right. I give them a discount on my fee because I want to have access to their database in different ways and we'll tell you a little story in a minute. The first way is I want to give them more resources to gift to their audience before I speak so that they will have a favorable predisposition. The reason I do that is the promoters normally are trying to get the thousand people in the room to pay the thousand or two thousand dollars and I want to help them, but I want to also have favorable predisposition to the 99,000 that aren't coming because I want my brand constantly built, and then nobody thinks about that. Or I will give them a trade-off and say, look, I'll give you a discount, but I want you to promote a collaboration with me, look for clients for me, get me a collaborative mastermind, and I'll pay you in the form of a discount, plus I'll pay you. I'll tell you a funny story. When I first spoke for Tony Robbins in 1992, I had been advising his company, but he wasn't really active in it. He had a president, and they had a program they were trying to figure

2:48:13out that wasn't working, and I devised a breakthrough that was killer. It made them million dollars and he got to know me and we really hit it off and he wanted me to speak at a very expensive ten thousand dollar event he was doing and a wife or some large number of people I think it was three or four thousand people and my response was okay so he said well what do you want I said either you pay me 150 grand or I'll pay you 150 grand which do you want of course he said what do you mean I said well if I just speak and there's no corresponding consideration. I want 150 grand because I don't really want to do it because I was doing all my own deals and making a million dollars a deal. But I said if you will agree that I'll speak for you if it's well received you'll bring my family out you give them a great trip first class but if I do it well you'll promote my various programs services to your audience I'll give you a royalty or commission up to 150 grand you tell me what you want. I don't care and you can guess which one he wanted and it worked and I paid him 150 but I made now I got 9 million in revenue the first time. So it's thinking totally different and everything I tell you honest to God is true.

2:49:32I don't lie because I can't remember anything. I just tell you the truth and then when you say why did you stop doing it. I made so much more money before I was a public speaker, because nobody knew me and I just would set up deals set up deals and get a piece of it. Now we're starting to do much more of that, but I accidentally did the first seminar. I thought we would, if it's a very interesting story, but I didn't tell it. So I went through divorce that cost me tens of millions of dollars. I didn't work for a couple of years and I had millions of dollars in the bank when I started and I owed billions when I got out and I had to go back to what I was doing and I hadn't done it for two years and I was rusty and I thought, okay, I'll do a little group seminar, but I'll charge an arm and a leg it'll force me to basically codify what had made me great because I really couldn't remember. So I created really a provocative concept and I went to a bunch of the newsletters. I'd help make hundreds of millions of dollars. For instance, would you promote this? Probably won't pull very much, but I'll appreciate it. They all did. And instead of getting 10 or 20 people, we've got 350 people at $15,000 on the first one.

2:50:39And I was shocked. Now it was a lot of fulfillment, but we did variations of that till we had a thousand people that came in and then I switched it to 5,000 and we did 12 or 15,000 people. That was so lucrative for three or four or five days that I really never went back to what was much more profitable. But I'm telling you stories that I actually did when I did nothing but this. And I'm telling you not to impress you with my agility mentally or my resourcefulness, but to challenge you to look very differently at everything you do, everyone you do it with, how you do it, where you do it, why you do it, and do it different. Next. It provides added value to your, it says, customers that would never change the clients. And so when you bring them, like I said, if you have dentists, Doctor, and they trust you, and they make a lot of dumb decisions because there are a lot of advertising providers that don't look out after their best interest, They have terrible websites. They have terrible sense of who is the best source. If you can source them and be their ombudsman and negotiate better deals or better benefits, you're doing them a service. And it's not just selling and practice management. It's all the other things that you don't sell them

2:52:01that they can be very indiscriminate in choosing because a lot of people choose on the hype, not on the right, I mean, it's amazing how few people do due diligence. It's amazing how many people really understand how to ask questions of lots of other people before they make decisions. But you could probably, how many people have you served so far? And do they get a good outcome? Did their practices improve either in efficiency, profitability, enjoyment? Do you think they would trust your recommendation for other things? Do you think that recommendation would help them before it helped you. Do you think if you made a 50-50 deal forever on those recommendations, it might be worth a few dollars? Okay, you can enter markets instantly. I already said that, so let's read that. You can expand your horizons, your goals, your aspirations. Think about this. You can take ethical advantage of hundreds of millions of dollars of other people's, resource investment, marketing investment, staff investment, all the things people have done to create the credibility, their trust with their audience, all the hard-won connection. And all you have to do is prove first and foremost that you are a viable, a meaningful, a superior value

2:53:37to their audience. I mean, even if they are avaricious, I always believe that shouldn't be the basis. You need to have them really appreciate why, how, and that, and the that is key that you add such value that they should want to encourage, I mean they should want to encourage their audience to want to at least talk to you. You get, you get to speed your access to wide varieties of new markets and new and new areas. Anything you couldn't justify, afford, or make profitable in the past now can. Now can. Now can. You can go far beyond your geographic boundary, as I said. And even now, not like I used to, but as I talk to you, it's not as lucrative. I made last year about $400,000 from France. I made a lesser, a couple hundred grand from Spain. I'm on track to make about $800,000 from Japan. I used to make a couple million from China, and I have no investment whatsoever. And when I go there, by the way, my deal is I get two first-class tickets. I get put in not the Presidential Suite, but a pretty lovely suite. I get a driver who speaks English for my wife or kids. I get $5,000 a day in expense money.

2:55:16I get four hours of two people massaging me if I want. So it's not the worst thing in the world. And that's with me not having any investment whatsoever in doing it. And I get a piece if I negotiate it right of the upside. And if I don't charge a lot for speaking, I get all the soft things that are far more valuable. Desiree just made a deal. She goes, okay, I'm coming. I said, what'd you do? She goes, you'd agreed to speak for this very high end mastermind group. And it's down, figure to the street. It's, it's, it's an hour away. And she said, they called me and I said, okay, I'm coming, I'm coming, I'm coming, I'm coming, I'm coming, I'm coming, I'm coming. I said, what'd you do? She goes, you'd agreed to speak for this very high-end mastermind group. And it's down, figure to the street. It's an hour away. And she said, they called to confirm you were gonna do it. And they said, okay, we never finalized the fee. And I speak for, it depends if it's down the street, 25 grand, if it's somewhere else, 75. And that's for your keynote. And a keynote for me is like four hours of me doing Q&A, problem solving. I do a little shtick, but I don't like doing more. And Desiree said, I told them you'd waive your fee

2:56:24if they did a full on promotion for your consulting, your masterminding to their whole audience, which are very significant people. I said, it's more valuable to me than a couple thousand dollars, come and go. If they've got 25,000 people that are my profile that trust them and they'll tell them, hey, you got to call this guy and help your business or you got to be part of his group you're going to do this, that's more about, like, that's millions of dollars if I execute mine. If I don't, it's mine to lose, remember, mine to lose. You can control other people's markets. I mean, we can be talking today, and it could be something that works so hard to get into a market, and then you can be in that market and be a dominant force overnight. You're playing a game at a level they can't even fathom next. You can gain a competitive advantage that nobody else has by aligning. Remember I told you the story of of Baron Rothschild walking back and forth across the stock exchange. He said when we're done with this people will loan you all the money you want not a hundred grand. You can rapidly overpower. I said that you can joint market with people and share the cost if you had to. We've had people that could go to people had booths and either get the get booth booth space gratis with a corresponding

2:57:49share of the revenue or if they didn't want to do that share the cause and when you go to who exhibits at a trade show raise your hand so let me give you a little insight if you do this right at all the breaks you go to every other every other exhibitor that's not competitive and you offer to help them gratis with their business in exchange for them introducing you to the same clients that are there that you probably don't even know because you either get bombarded or no one stops, right? And if there's a hundred exhibitors and 90% are not competitive and they have access to the same market you're after, what's that worth? And if they all go after them concurrently and you help make sure that every communication that comes from a different one is unique so it doesn't sound like it's the same, what do you think over time your presence will be in that to that audience? Significant? And you help those people and if you help all the exhibitors be more effective by giving them knowledge that they don't have, how to sell better, how to follow up better, I do the things we're talking about, do you think maybe they'll be in your debt? Maybe? Perhaps, huh? And then you program them on who you really want. Because you don't

2:59:05know from all the people from Bombardier and walking through the booth, who's who, do you? They do. They do. The only ones that won't do it are the large ones. By the way, another really cool concept, it's a little different than this, is look up people who used to work for everybody from your competitors to other companies that dealt with the same decision maker, but no longer do it and find them on LinkedIn and then contact them and make a deal if they'll introduce you anything comes from it they get an override either one shot up front, front end loaded or percentage. It's sort of interesting. You can collaborate and design new products or combinations with other people using their resources technology, you got total flexibility in the way you operate. If you do it yourself, if tomorrow morning you wanted to penetrate a market, you might have to lease space, equipment, hire people, run ads, fly their interview, pay salaries when they're not ready to monetize by, you know, pay for travel for them. Instead, if you made a deal with somebody that already has office space, has sales people, has equipment, and you just have to go there and teach them and program them and work with them, is that better?

3:00:28But your downside is zero, and if it's not exclusive, you can do it with lots of people. If it's exclusive because they're bigger than that relative anointment is invaluable. Oh, by the way, when you do a lot of joint ventures, then you take the promotion, you take up the videos, you take them written and you put it on your website and it gives you another level of not only credibility, but when people start searching for them, The Google search gives you, doesn't it? Sort of interesting. I hope I'm involved in that. Thank you, sir. Next. It's less risky. I mean, that's so evident. I won't get it. It requires less cash. Okay, you can acquire technology license, like I said, or you can do the opposite. It's a double valve. You can do both all the time. Advertising, you can license. Sales approaches, you can license. Productivity approaches you can license, efficiency approaches you can license. You can syndicate supply deals or you get better rates. You can do all kinds of stuff that it's only limited to what you can conceive. And hopefully I'm massively expanding your sense of possibility. Am I? Yeah, sure. Okay, cool. You can get research and development done for free. You can access knowledge and expertise well beyond your company borders.

3:02:00If you partner with somebody who's got, I mean, when I partnered with the newsletters, some of their executives, some of their marketing people were being paid millions of dollars and I got access to all that for profit share. Sometimes I would exchange and get free access where I would give them expertise because I have a value that's, you know, I don't charge this to many people, but we do do occasionally every year a couple of $120,000 days. So when you have a billing rate of 120 grand, you can trade it for a lot of stuff a day. I very rarely do it, but it doesn't matter. Did I already tell you how I used to do the seminars with, did I already talk about that yesterday? About the way I had the sequence of what we did. I can't remember because I had a couple of, I did talk about it yesterday. where I said I talked about, first of all, selling a $50,000 console. So when I used to do seminars, these, I would go to the endorser and I always funded it. And I'd say, we're gonna send a letter, first of all, from you offering a one-day private console with me. This is 25 years ago for 50 Green. And I was thrilled if I got one person, because it wasn't about that. And it was about posturing. Then we'd go right behind it about five days later

3:03:23with the letter from the same person saying, wow, so many people were incredulous that anybody had the audacity of charging $50,000 for a day. But they also said, wow, they were really curious. What the hell could somebody do that was worth $50,000? Was there any way that I could arrange with him some affordable way we could access them? And I talked to Jane, he said, get 500 people together in a room for 5,000 and the economy's at scale and I'll give them three days, 150 grand for five grand, and that just killed. That just killed. Then we'd go behind it and say, so many people, even though we made it so affordable, either couldn't or wouldn't afford it. And we said, Jay, is there any way you can make it even more valuable? He said, sure, charge them for the recordings, only 40%. We sold tens of thousands for whatever, 2,000, 5,000, whatever it was, but it was a sequence of psychological position. I'm just telling you stuff I used to do that worked. Strengthened your expertise in an industry as a result of the relationship. You think me being anointed by Tony Robbins or Damon John or Anthony Scarabucci or back in my original days 40 different seminar people 40 different seminar people or Success Magazine or Entrepreneur Magazine had any kind of benefit

3:04:52to my brand. Maybe, and I don't do much of it anymore, not because it didn't work. I just changed my goals and interests. It was much, much more lucrative than one-on-one for a while, because one-on-one for a while I just charged a base fee. Now I get a one-time fee and I get get three to five years of override. So it's more lucrative going back to my roots, but I got great stature by doing this. In fact, I'll tell you how I got there. The first time, this is not Tony. No, he was a different. I got a referral from to Tony from somebody I had helped. Nightingale Conant, those of you who know what that is, for many years, it was the number one publisher of audio courses from experts sales, business, solid skills. And I met them, and I won their trust and I helped them gratis and made them a lot of money. And I got them to introduce me to 100 of their experts. And we sent them a book that I had sold 72,000 copies of for $377 a copy, you can do the math, it's about $23 million. I was very impressive when I was younger. And it bought my beach house all cash. And I sent him the book and you'll sign the letter say Jay's going to buy you two hours of his time. The only string that's attached is he wants you to endorse him if he blows your mind and he

3:06:25doesn't don't. And I got 85 approximate of 100 to accept it. Now the bad news is it took me two full months of doing it for no revenue. And the good news is about 80% of the 85 endorsed me. And in the 80s and 90s, anybody who was iconic with very little exception I already had as an endorsement today, I can give you all the names and they're no longer probably relevant. But for that in that genre, in that time period, I had 80% of them that we would send out I did I tell you about the declaration of success. So I had all these endorsers, I had probably 100. So we would send out as one of our promotional approaches, pretty cool. On the outside of an oversized envelope, it would have 100 signatures. And you wouldn't know why all the signatures were there. Then you'd open up and there'd be a very long folded piece of paper. And it would say we rarely. It would say we rarely agree on anything, but we all agree on one thing that chamber having somebody you need to take seriously, I would have all these signatures, and then it would have the promotion. Probably have to leave. Okay. Did we this is a good bit. Now, would you like me? I'm gonna ask permission. Let me tell you when I come back about things some of you can do with because I don't need to

3:07:51I mean, this isn't a cry. I never do these. I did. This is so embarrassing. When I did the seminars. At that point, I'm very embarrassed by this. I was the only person I had this knowledge. We have involved it, but I had it 30 years ago, I could have had equity interest in every business that I ever was exposed to because I can take them and I never asked for it never sold anything on the back end, because I always saw myself as an advisor. advisor and not an educator. I would help other people put all the back ends. We have three or four things that some of you might be interested in. One is expensive, it's private, collaborative profit partnering. One is a very unique mastermind we've created. It's not inexpensive, but it's not cheap, but it's designed not only to get access to a constant array of new perspectives, which are very unique than any other mastermind but it's designed to also pull talent to acquire businesses together that we build and we and we flip. I also have these weekend and we might do something if all if you wanted to with with this because this is the end of this road for most of you but you want me to do it or not because if you do I'll think about it at lunch and if not I won't.

3:09:11Raise your hand if you do because I don't want to bother you. Okay okay I will come back to you with optionality and and raise your hand so I know how many of you are businesses that do at least again five million dollars okay how many of your businesses that do at least a million dollars how many I mean the ones that raise your hand I'm talking about so under five but over one how many of you are under a million okay aren't you gonna have a great lunch I'm gonna go get So you know what I do, I get very expensive shots flown in from Switzerland that are sheep embryo and they sort of match what you would call, they sort of like, they were predecessor of stem cells but I've been getting them for eight years and you have to realize I am 74, And I have to compete with people that are as young as this young man. So I try to keep myself vibrant and vital, and I spend a fortune on it. And I have a doctor who's crazy. He was one of the early predecessors of longevity. And he's waiting with about $5,000 of the shots I got to get. So I'm going to go get my shots, and I will be back. And I'll tell some of you different ways we might be able to work together. You're so inclined and I hope this really blew your mind today did it because I'm going to ask you for perspective when I return. I'll see you in a little while.

3:10:38I hope they don't turn too bad. They do. They do and I'll tell you why. No, they do. I'm going to get my office ready to get my office ready to get my office ready to get my office ready.