Documente Academic
Documente Profesional
Documente Cultură
Write down at least 10 goals, then go over the list and you imagine that you could wave a magic wand and
you could accomplish any one of these goals within 24 hours. Most people who do this exercise will find
that within 12 months theyve accomplished eight of their ten goals. Theyre really quite astonished; eight of
the ten goals will be accomplished.
The only question you ask is, How? Winners always ask how.
Theres no such thing as failure, theres only feedback. If you try something and it doesnt work, you simply
say, This is a form of information.
Quote:
Imagine that theres a great power in the universe and this great power loves you and wants you to be
successful and happy and have a wonderful life and live a long time. Thats all that this power wants to do.
The only reason that you dont achieve it is because you dont listen, like your parents told you, You dont
listen. This great power knows that you have a perverse nature. You have a perverse nature in this sense is
that you wont learn unless it hurts. You will not learn. You just kind of bullheaded; if it doesnt hurt, youre not
going to learn. Thats why its very hard for us to get the great lessons of life out of books or out of other
peoples experiences, we have to suffer.
Theres three ways that we learn, three forms of pain. We suffer emotional pain. We suffer physical pain. We
suffer financial pain.
Whenever God wants to send you a gift, he wraps it up in a problem and the bigger gift that God wants to
send you, the bigger problem he wraps it up in. I know many of you feel like its Christmas morning again at
your house with all the gifts lying around, but heres what the superior person does. The inferior person
blames other people. The inferior person becomes angry, depressed, lashes out, and so on and blames other
people for their problems. The superior person says, Im responsible for my own life, What am I meant to
learn from this setback, this difficulty?
When you accept responsibility and you look for the lesson, first of all youll always find a lesson. The second
thing is while youre looking for the lesson youre mind becomes calm and clear and positive, and you
become more creative and more effective, people admire you and respect. You become a better person when
youre looking for the lesson.
The starting point is to identify it clearly. What one skill, if you were absolutely excellent at it, would help
you the most to build your practice? What one skill, if you were absolutely excellent at it, would help you the
most to double your income? Whatever your goal is, what one skill if you were absolutely excellent at it,
would help you the most to achieve your most important goal?
Whenever you say whats yours the personally instantly gives you a learning and growth goal, instantly
gives you something that theyre working on to become better.
All skills are learnable. You are probably only one skill away from doubling the size of your
practice and doubling your income.
2. How the Concepts Translate into Action for Me.
I can bring more structure to my thinking.
1. Focus on Goals, Measurement and Action.
2. Write out 10 or more goals for the four areas of life: income, relationships, health and financial situation.
3. Start with my top 3, and write out very clearly everything included in the 7 steps, so that I am taking
action and measuring key elements every day.
4. Only ask how.
5. Decide Whats Mine? (In case we ever want to ask each other that question on a call.
As a lawyer, I have specific knowledge about the law. Clients come to me for my expertice. My role is to
give them specific advice about how to avoid or resolve specific problems. I take things that the client does
not understand, and I educate them, so that they can make good decisions in their businesses.
Quote:
They felt like a key element of their function was connectivity and to help people take the next steps. It did no
good to give them a data dump of information if they didnt know what to do with it, and why to do
something.
Their role was to connect all the dots, give them a plan, help them take the next
step, protect them, make that step logical, appropriate, obvious and easy. They saw, importantly, their role of
their ability to put into words what people wanted but could not articulate or put clarity on, and then build on
that for them.
As a lawyer, most of my clients are not capable of writing their own legal documents, filing them, and so
forth. I must either do the work for them, or shepherd them through specific legal processes to make sure
that the job gets done properly. I have spent three 20 hour days at a client's office before, showing them
how to organize documents necessary to the sale of their business, or example. Because they lacked
experience in selling businesses, they depended on my knowledge of what to disclose and how to document
it.
Quote:
So, its like the secret to making business really soar is to have a passionate awareness and commitment to a
higher purpose, and the higher purpose is not your own enrichment. Its different kinds of financial, or
psychic, or transactional enrichment of other people -- helping their lives be better, helping them be more
fulfilled, helping them get more out of the process, or out of life itself.
For a lawyer, the interests of the client must always be preeminent. Lawyers who work on transactions in
which they have a personal stake have a "conflict of interest," and they must be extremely cautious about
doing anything that would generate a benefit to themselves at a cost to the client.
Quote:
People will always pursue their wellbeing in a logical, rational way, but they will make their decisions on an
emotional bent.
It is always easy for a client to take the advise of a lawyer. There is a natural imbalance in knowledge that
gives the lawyer automatic authority. But in other areas of business and personal relationships, there can be
resistance to someone trying to provide a benefit to others.
Quote:
Youve got to understand, your job is to acknowledge that reality of human nature and compensate around it.
Reassure them, direct them. People will do more things to curtail making gains, because they dont want to
look foolish. They will work harder not to look foolish than they will work to gain an advantage. Its human
nature. Dont argue with it. Accept it and factor into your strategies and your actions this reality.
Jay hasn't mentioned any techniques for getting past people's natural defensiveness, yet. And since I don't
think he teaches hypnosis or NLP, I am expecting a lot from him as we move past the mindset topic. So far, I
have heard him talk about the benefit to the customer, reducing the risk to the customer, and so forth.
Quote:
Most people think, What do I have to say to get people to buy? Instead you should say, What do I have to
give? What benefit do I have to render? Its nothing to do with sales shenanigans or trickery or schemes. My
purpose for all of you is to teach you how to become value creators or value generators.
Perhaps the key is simply to have enough knowledge that you are always a value generator in your field.
Again, I understand Jay's mindset. But the mindset also requires that we identify what we have to offer that
will benefit other people.
2. How the concepts translate into action for me.
In relationships that are not lawyer-client relationships, I have to apply the same principles.
a. My focus has to be on how someone else can benefit from what I know. Before I can apply
preeminence to any relationship, business or personal, I have to identify how I can benefit
someone else. Jay indicates that benefits can be both financial benefits and emotional benefits. Just
listening might bring value to others in some contexts. In any event, in order to "sell" my services or
products to someone, I have to have a strategy for delivery of a benefit to them.
b. The key is helping the person to realize the benefit. It has to be implemented through concerted
action involving me and the client.
Quote:
Instead of making a conclusive statement, they felt they were much better off giving their client the
ammunition that allowed them to make the conclusion for
themselves. If I do my job correctly for anyone, they end up evolving to the decision thinking that some
conclusion is their own. That is my intended outcome because its much more powerful if you own it ....
You never want to draw the conclusions. You want them to take an action that makes a commitment. Your
commitment to them will never be as strong as their commitment to themselves. If they dont take action
themselves, theres no power in it. Empowerment is a meaningless word unless you understand its
implication.
If someone is not already implementing a certain behavior, and if I can see it, then I have something of value
to offer them. If I can help them implement the change, or use a new product to satisfy a need, then I have
brought a benefit to their life. Getting them to take action, and make it their decision, is the key to
putting yourself in a position of preeminence with them.
c. I think that getting past people's natural defenses, getting into a position to really help people, and so
forth, involves more than the ideas in this transcript. I think the steps need to do those things requires a
discussion of some of the other readings, such as Covey Jr.'s material on trust.
So to sum up the action steps for me, personally, I think I already understand the preeminence mindset.
The next step is to identify opportunities where there are needs, and identify the value I can bring. I may
already have some value or I may need to learn something new in order bring value to the situation. I
understand Jay will cover opportunities and techniques after mindset. The final step, which comes back to
mind set, is learning to build relationships involving trust, so that my position of preeminence leads people to
make changes that benefit them. That becomes a source of passive income when my contribution is
recognized and arrangements are made for payment.
Quote:
It always starts with yourself. So even before you say, How do I build trust with other people? you first say,
How do I do this with myself? How do I build self trust? How do I build this individual credibility that will then
become the foundation for building extraordinary trust with other people?
Quote:
4 core areas that you build that credibility.
1. Integrity, the foundation of who you really are.
2. Your intent, which is referring to your agenda, your
motive.
3. Capability, your skills, your talents.
4. Results.
Quote:
13 Behaviors Of A High-Trust Leader (with quotes describing)
A. Actions that create trust in your Character:
1. Talk Straight (Thats being honest, telling the truth, and using clear, simple language.)
2. Demonstrate Concern (Tell people you care.)
3. Create Transparency (Look, Im trying to help create something we all can win by. Heres whats
important to me. Whats important to you? ... Youre counting the truth in a way that people can verify and
validate.)
4. Right Wrongs (just make things right when youre wrong. Apologize quickly. Recover. Make restitution
where possible. Demonstrate some humility. Dont let your pride get in the way of doing the right thing.)
5. Show Loyalty (I will speak about people as if they were present. I represent them.)
B. Actions that create trust in your Competence:
6. Deliver Results
7. Get Better (Be a constant learner. Get feedback. Act upon the feedback. Improve. Youre always trying to
get better and better at whatever youre doing.)
8. Clarify Expectations (trust breaks down not because theres bad people involved, but because peoples
expectations of whats supposed to happen is different. And theyve never taken the time to clarify them, to
validate them, to discuss them, to negotiate them.)
9. Practice Accountability (You hold yourself accountable. Hold others accountable. Take responsibility for
results. accountability is hard. This is tough love. This is discipline. But when people are held accountable -when you yourself are accountable -- you will build trust in all your relationships.)
10. Confront Reality (Take issues head on, even the tough issues, even the so-called undiscussable
issues.)
C. Actions that build trust in both Character and Competence:
11. Keep Commitments (make commitments.)
12. Listen First (Understand whats important to them, because then youll have influence with them. But if
you just try to talk first and not understand you wont have anywhere near the influence, and they wont
trust you near as much.)
13. Extend Trust (extend trust conditionally. Those that are earning your trust, youre careful how you
extend it until they prove more and more. But those that have earned it, you extend it abundantly, because
people respond to that.)
Second, strategy is the process of process of determining how you will use your resources to
achieve your goals.
Quote:
Being strategic requires you have a mission. Theres something important youre trying to accomplish in the
larger sense of things. And your strategy from the get-go is saying, What are my best opportunities to
achieve this end? From there you begin to set things in motion to achieve those ends.
Knowing one way to get to the goal is not enough to qualify as a good strategy. We should always be looking
for an easier, faster way to achieve our objectives. Reviewing and improving strategy is a also an
effective means to developing consensus in a group.
Quote:
O.K. But if theres an easier, faster, safer strategy to get you the $5 or $10 million would you be willing to
examine that against this?
Ill do the session with the senior managers in a company, however many there are. Sometimes just one,
once there were 27! It can get pretty hairy because they dont really agree. At least not at the get-go. They
always agree when were done. I have a process that I get people to agree on, simply by having everyone
share what it is they see. And then to start to kind of harmonize them. I call it Creative Alignment.
Because any situation is fluid, refining strategy should be an ongoing process. An organization
with flexibility will be able to constantly shift its allocation of resources to take advantage of opportunities.
Therefore, an effective strategy should include mechanisms for measurement, review, and refinement.
Quote:
I used a formal strategic planning model for awhile, where you laid out all your action steps for the next
upteen months and then you tried to execute them. And what I found was that you could only go a few steps
and then your plan fell apart. Every time. And the reasons your plans falls apart is because youre not dealing
with a static situation. You are dealing with peoplewho respond! And who are executing their own plans.
Your market is not static. You do something and the market responds to you. The market could be your
customers. The market could be your suppliers. The market could be your vendors. The market could be your
competitors. But you do something and the market responds. The strategy is how are you going to lay
things out as best you can to get as far down the road as you can toward your vision and then you define
some initial tactics and you execute them. The process I use now is called Iterative Strategy. First you define
your vision and mission. You look as far as possible into the future of your market and your competitive
landscape. Then you define major strategies to gain the greatest leverage (biggest output for the smallest
input.) You deploy or position your resources based on that strategy what you will expend quickly as
well as what you will hold in reserve. Then you choose your opening tactics and mobilize into action. Then
you reconnoiter. Evaluate your strategy. You test and measure, and if necessary regroup. And make your next
moves.
Invest in people
-in building relationships of high trust
-in learning and sharing learning
-in setting up empowerment agreements
Quote:
If you study Jim Collins book, Good To Great, he shows that in every case without an exception of
organizations that were good, but then became sustainably great, over a long period of time the number
one quality was humility the absence of ego -- combined with professional will. They had tremendous,
fierce will. But it wasnt about them and their career and their reputation. It was about the people, the cause,
the work, and it became obvious to other people.
Begin with the end in mind. What is it going to look like? Then reverse engineer the process to arrive at
the end.
Quote:
Leadership is the enabling power to everything else that takes place. Even artists need leadership need
some kind of vision some kind of strategic directioning some system of accountability, of
nurturance, of a servant leader. And thats what leadership provides.
It is an inside-out process. Theyve got to literally work on themselves take more initiative to bring the
people together to come up with a strategic direction, with values, and with a vision that people can
emotionally connect to. And that is almost the first activity that such people do. Once they get that going,
then their spirit is kind of a servant leader, to How can I remove obstacles for you? What can I do to help you
further what youre trying to do?
The strategic means that youre focusing upon what are the over-arching purposes youre trying to serve?
And what is your basic value proposition, or your basic good or service that can serve that in the markets
that youre going after? So that you have to think through what those big goals are, and the main plans to
accomplish those goals. you need a context in which to operate in which everyone can operate. People
should be on the same page about that strategic context.
The key to creating strong relationships is listening and discovering what is really going on inside the
minds of customers. You dont agree or disagree, you just learn and develop a deep empathy.
Discovering their strengths will help give them a voice and empower them to make a greater
contribution.
2. How the Concepts Translate into Action for Me.
The most important message that I took from this is that I can gain so much more productivity and leverage
working with others when you identify their strengths.
Leadership in a knowledge economy requires the leader to be able to develop a shared vision with other
people. Leadership involves bringing out the voices of others and motivating them to contribute in ways
that they are capable, but may have lacked the passion to act previously.
To achieve the results of a leader, the leader must provide a vision, and then work with others to shape a
mutual agreed upon vision in which all participate and add their own strengths.
The job of a leader is to choose the area of effort. Choose focal point. Discipline yourself and others
to focus their energy single-mindedly on reaching the result that will help you advance.
It is difficult to keep people focused on a single result.
There are too many interruptions from phone calls and people coming in, and little details. But the focus on
the big picture generates big differences.
Success comes from focusing your talent on your very biggest opportunities, all day, every day.
The key person has to keep them focused. Otherwise, people tend to wander in their own direction, and work
on the fun, little, easy, irrelevant stuff.
Get ideas about what you can do by looking at what others are doing. Then you know it is doable. If you
dont know how, ask someone in another town or another industry.
After you identify your constraint, question it. What else could be your constraint?
80 percent of the constraints holding you back in your life are internal.
What can I do immediately that will begin to alleviate this constraint?
Then force yourself to do it.
The difference between successful people and failures is initiate.
But failures think that they also have initiative.
But when you look at their definitions of initiative, you see the successes have a higher focus and they are
much more action oriented. They take important action immediately.
The hardest part of being intensely action oriented is taking the first step.
The repetition of acts of procrastination form the steel cables of habits that destroy the likelihood of success.
You have to throw them off and form habits of taking action immediately.
The quality of your thinking determines the quality of your life.
Leverage-maximizing output per unit energy of input.
Acceleration-the speed with which you can achieve your goals.
There are many things going on in every business, but usually 5-7 are critical. Citical success
factors are the ones that can be leveraged with minor changes.
Your weakest critical success factor determines the degree you can utilize everything else.
Therefore, identify your greatest weakness and then focus you energy on bringing that critical success factor
up.
Good people are free. They always produce more than they cost.
Good people are the fastest accelerator, the fastest way to build your business.
Do I need to hire a key person here? Or can I outsource?
Value your time.
If marketing and sales are you most critical functions, measure what percentage of your time
you spend on them each day. Are you getting diverted into less important tasks?
Only do those things that reflect your desired hourly rate.
Budget your time minute by minute.
Dont do the stress relieving activities (ie taking a break to call home, walking to the water cooler, etc.)
Daily and weekly planning: on a Saturday or Sunday, lay out your week: things to do, appointment, travel
time; then plan your day, everything you need to do. Anything less than 2 minutes, do it immediately. If I
could only do one thing on this list, which would it be? Circle it. Prioritize top 5 or 6. Those are the
important ones that you do. Everything else is stress relieving. If you can discipline yourself to do the most
important thing, you will be successful. Always work from a list. Once you have decided and made your list,
it is off your mind. Biggest problem is having all the things in your head that are undecided or unrecorded.
When you get them all down somewhere, your mind goes calm and relaxed. Next morning, start on the
most important thing you can do. What is the most important thing I can do that will make the biggest
difference? What am I weak at? What is my greatest opportunity to work on, outsource, manage,
accomplish?
Build a system where you get a reward, a sense of accomplishment every time you get your
most important thing done. Then you get the stress relief and reward by getting important things done.
People who are stressed at work are either doing low-value or non-valuable things all day or are not
rewarding themselves for getting the important things done.
Ultimately, we are happiest when we know that what we are doing is making a contribution to benefit others.
Something that makes a contribution is what you can really become passionate about.
Zero-based thinking exercise stress is a sign that you are in a zero-based situation. The situation bothers
you. It is a distraction. It is a barrier to happiness.
Each time you approach the end of a successful growth curve, get ready to begin the process again before
decline begins.
Concentrate on changing your discipline on an hour by hour basis.
Awanputeh
12 Pillars of Strategic Business Growth
Build your foundational mindset on these pillars to build your business:
1. Continuously identifying and discovering hidden assets and overlooked opportunities in your business.
2. Mining cash windfalls each and every month of your business.
3. Engineering success into every action you take or decision you make.
4. Building your business on multiple profit sources instead of depending on one single revenue generating
source.
5. Being different, special, and advantageous in the eyes of your customers and clients.
6. Creating real value for your clients and employees for maximum loyalty and results.
7. Gaining the maximum personal leverage from every action, investment, time or energy commitment you
ever make. (Be sure to test your approaches systematically. Testing conducted for phrases used in customer
greetings in a furniture store showed that greeting the customer with the phrase "What ad brought you into
the store today?" resulted in a 300% increase in sales over any other greetings!)
8. Networking, masterminding, brainstorming with like-minded, success-driven people who share real life
experiences and shortcuts with you.
9. Turning yourself into an idea generator and recognized innovator within your industry, field or market.
10. Making growth-thinking a natural part of your everyday business philosophy. (Most people don't reach
their goals because they don't have a clear idea of what they want to accomplish or, if they do, they're not
doing anything to reach it.)
11. Reversing the risk for both you and your clients in everything you do (so the downside is almost zero,
and the upside potential nearly infinite).
12. Using small, safe tests to eliminate dangerous risks and adopting funnel vision instead of tunnel vision in
your thinking.
Schedule key activities for specific times. When a key activity is scheduled, that time must be nonnegotiable, so that the key items get done.
The Focus Chart seems like an excellent tool to me. It could really help with prioritizing and delegation. It
could also help lower-level employees see the key role they have in saving time for others.
Common mistakes:
1. Getting trapped with the theory. Thinking you know it, intellectually; without the experience to know it
transactionally.
2. Being intimidated.
3. Going after deals too big for you.
The fastest way to success is to learn to JV by apprenticeship. Apprenticeship solves common mistake no. 1.
You get some experience as you go through the process. You acquire proficiency by experience, just the
same way that everyone learns to walk, talk, etc. You perform an assignment, your mentor checks it, adjusts
it, corrects it, enhances, it, and advances you to the next assignment.
Success rates:Read a book 7%; Audio tape 20%; Seminar 25%; Mentorship vitually 100%
You have to begin by learning the JV mindset. You have to acquire the skill of seeing opportunities for
JVs. You have to learn how to pitch the JV so that people agree to do business with you. 99% of businesses
dont understand JVs, so joint venturing is very much an educational and nurturing process. You have to sell
them on accepting the benefits that you can bring to them.
To be successful pitching JVs, you have to convey trust. You must display confidence and certainty. You have
to have a concept that makes sense. If doesnt even matter if it doesnt work. If they have the certainty
that you have insulated them from the downside risk, then the only potential outcome for them is to benefit.
When you have experience, you will be able to present with authority. The authority of a expert advisor
conveys high certainty and confidence. Everything you present is conveyed with the mindset that you have
the ability to make it happen. The deals you have done can establish your credibility. Then when you pitch
people the upside potential without risk, they cant deny the common sense of working with you.
Being able to sell business people on joint ventures requires conviction, motivation and passion.
You must begin with a certain psychology and strategy and refine it by experience.
Identify the keys from the experience.
Accelerate learning through interactive analysis.
What was the mindset? What was the execution? What did you learn? What could you tell others to do
differently? What would you recommend?
Go for the safe, certain, smaller deals first. Build a stream of income from several things producing
$500 per month. Build perpetual income streams.
The key to everything is to have control of the deal.
Then you can sell your income streams or leverage them in other ways.
Understand the odds.
Start with small deals first:
1. You build your ability, confidence and psychology.
2. Wins build your reputation
3. You can build an income stream, which will support you when you want to make a larger commitment to a
really big deal.
Realize that it is a process.
Be in it for the long haul.
Quote:
The average high ticket sales success takes nine to eleven progressive communications, and
what you are doing with a joint ventures is selling a intangible high ticket sale.
And if you look at the best sales people, most sales people fail because they try it one time, they dont hit
the result they want and they abandon into that prospect representing that line and they get disenchanted,
whereas if you look at the great successes it is a sequential process where the dynamic of progression works
to your advantage. Most people give up too soon.
Jays pitch: I know that you do X well, but that you dont have the Y that you need. If I am willing to set
something up for you, where I do all the work, are you willing to split the profit that I make with me? I can go
and do this for one of your competitors, but I like you the best and wanted to give you the opportunity
because I think we can have the most success together.
If Jay gets rejected, he turns it around with this pitch: If I were in your position, I would probably say
no in the beginning, because I would wonder what the catch is, what he knows that I dont. But then I think
about it, and he DOES know something I dont. He knows how to deliver markets that I am not going after.
He knows how to turnkey it. And it will enhance my profit, if I put controls on it
Jay has a lot of experience, so he can also educate people about the controls and structure that are needed
on any deal.
Case study examples:
1. One persons distress represents an opportunity for someone else.
2. Use an existing distribution channel to sell additional products.
3. Use existing relationships to introduce a joint venture partner. If you bring access to someone, you should
start by asking for half the profit.
4. Make second and third sales using existing assets.
5. Identify underutilized assets and use them.
6. Use assets during a time of day when they are not utilized.
Business to business sales are very profitable connections.
7. License successful selling methods from successful sales people.
If you own a business, begin externally by asking:
How can I get other people to open up new markets for me?
How can I get other people to give me access to their products, selling systems, etc.
How can I get advertising and exposure without paying upfront?
How can I get markets?
JVs can lower the barriers of entry into any business. You get to leverage the investment made by an
existing business. You can use it to enter a new market or boost market presence. You can harness other
peoples knowledge base, learning curve, research, ideas to expand your horizons.
Why JA teaches the JV program:
1. He is good at doing strategic alliances.
2. Most of the deals we will do are too small for him. But we may bring him deals that are too large for us.
3. We may uncover businesses in which JA has an interest.
4. You may come into contact with people who could be useful to JA. JA will be making money on the
backend through ancillary opportunities.
5. JA likes to be forced to codify his thinking. He wants to pull out the key concepts from what everyone is
doing and try to teach them and have everyone grow from their participation.
If you always take the added profit from innovation, you can lose patronage.
People also have to be shown how to appreciate the added value.
Marketing provides the education of customers and prospects.
Marketing increases demand for our services or products.
Critical factors of sales leads:
1. Cost.
2. Conversion rate.
3. Unit of sale.
4. Residual value.
JA learns from other as he teaches, by requiring them to illustrate their own understanding and techniques
as they have applied them.
80% of your business from 20% of your customers, recognize and reward them.
Ask a lot of questions, going deeper and deeper.
Be specific. Be very specific about the result you want.
Where does new business come from? Where could it come from?
Who else stands to benefit from your growth?
Who is in the position who already has must customers and has already spent time, money and action to get
their goodwill and attention? Are they in a position to recommend or endorse me?
How else can I benefit from the goodwill I have with my customers?
How can I reduce their risk or lower the resistance barrier to the use of my products?
USP. If you sell something hard like a product, adding something soft like a service might create a more
valuable USP.
Matrix for innovation: process of looking at and documenting everything that other people are using.
You: what products or services have you purchased? What compelled you to buy? What about my desire
motivated me? What was the outcome I was expecting? How did they convey that to me? What selling
methods did they use? ALSO: make a point of inquiring of 2 or 3 people per day, how do you market? How
do you express it? What has impacted your selling strategy? As you learn from them, document what
resources they have that you could use. Take everyone who is not competing with you (geographical or
product market), and contact them to exchange information. Then go to similar industries, not competitive
but with common elements that you can learn from
look to see what businesses have customers they're not maximizing where you could basically create a
business that would be a joint venture relationship with them, or take advantage of the enormous
investment and goodwill they have already made, the enormous money they are continually spending on
facilities, equipment, personnel and advertising -- to sell or offer other logical extended products or services
under the confines of the companies. Most businesses I look at sell one product or service -- they only think
of themselves in the context of "I sell this product" when in fact the very acquisition of that product means
that a customer has to have pre-done one thing and then post-do something else to make that product work.
2. How the Concepts Translation into Action for Me.
I have viewed my businesses from a process standpoint for many years. I am in the process now of
documenting the steps in each process, as a tool for training and to see if I can add more focus and leverage.
Another thing I have in mind is measurement. Rather than measure every minor detail, it makes sense to
me to measure just the critical areas. I will look at how I can benefit my businesses by measuring the cost of
client acquisition and data about client purchasing.
A final thought is about USP. There is a lot more work that needs to be done to communicate valuable
concepts to clients, to build the client recognition of the benefits that they are receiving (or should be).
purchase.
Increase quality for better performance and better result.
Increase quantity for more benefit.
Increase complimentary products or services for broader benefit.
To increase frequency of sale, educate them to what their buying strategy should be, for
maximum benefit to themselves. Program them to see the advantage of returning more
frequently.
Schedule a follow up appointment.
Turn your enterprise into a continuous experience and event. The more fun or stimulation or positive it is to
do business with you, the more people will return.
That should be ingrained into your master selling strategy.
Let people know that the constant experience is a part of your enterprise, that there are regular events to
which they may be invited.
Everyone wants to feel like they are a part of something special and enjoyable.
Its all about relationships.
A customer is not the product, they are a person with emotions and needs. The more you recognize and
respect them, the stronger your bond with them.
Happy customers produce more energetic companies.
Instead of falling in love with your business, fall in love with your customers.
There may be a time when you dismiss a customer:
1. If they are stealing from the well being of other customers that you want to serve.
2. Personalities clash and you cant service them properly.
3. If they need to go somewhere else to have their need met properly, because you dont offer what they
really need.
4. The customer lacks an adequate appreciation for you.
When you get rid of bad customers, it can help your business thrive.
Success comes from really being able to convey to the customers the self-serving advantage to the
customer that comes from buying from them, rather than from the competition.
Unique Selling Proposition (USP) clearly conveys to the customer a superior benefit and
advantage you provide over your competition. It is instant and evident.
Pay for customers and results, instead of advertising.
Begin by knowing the lifetime value of the customer. Then you know how much of the first sale you can give
to acquire the customer.
Go to your sales force, or approach your sales strategy, and make the appropriate deal to drive them to
make sales and achieve the best results.
Then you have to follow up with the new customers to reap the lifetime value of the additional sales
potential. You have to understand the buying patterns of your customers.
Lack of innovation comes from repeating what your industry currently does.
Try things from other industries, try several things, employ all the methods that work effectively, that
minimize risk and effort.
It costs the same time, effort and money to send out a sales force to close 50% as 10% of their prospects.
An ad costs the same whether it pulls 5 responses or 50. It costs the same, whether the initial sale is $100
or $200. Your strategy should be to maximize the result.
Test your ideas. Find the best producing ones. Concentrate on those.
When you become an innovator, you develop connections, and you become the person setting the rules.
You owe it to yourself to get the most out of every contact you have with other people.
2. How the Concepts Translation into Action for Me.
Instead of looking for passive investments of money, people who really want to make a lot of
money need to look for businesses that have leverage opportunities. This is a concept that I
can sell to people to build a massive joint venture network.
The heart of any leveraging activity is measurement. We can look at processes and measure costs and
results. We MUST look at customers and keep records relating to the key factors:
1. How much does it currently cost me to obtain a new customer?
2. Customer data for knowing and contacting must customers, past present and future.
3. Size and makeup of product purchases.
4. Purchasing frequency, cycles and lifetime.
The heart of increasing revenue is improving communication with the customer from the view
of what is in my customers interest.
Reaching new customers with my USP, and retaining them by reinforcing my USP.
Increasing size of each sale by education about my USP.
Increasing frequency of sale by education about my USP.
Very few people are making all the money they want or using their resources to their best advantage. They
dont know how to put thing together OR they wont get around to either verbalizing or doing it. When you
go to somebody and you can turnkey a deal for them and you do all the work and you put together all the
elements and you connect all the dots that is very appealing.
Jays Mindset: a passionate belief that the businesses he was helping needed him to make these things
happen, more than he needed the income.
Two kinds of leverage:
1. Incur debt or other obligations. (Very risky.)
2. Capitalize using other peoples underutilized assets and opportunities. (Low risk.) They have
already made an enormous investment in capital, effort, and assets. You show them how to take advantage
of that investment.
You make the rules in joint venturing.
The key is to understand and control the elements of the JV, so that you have a preemptive hold
on the deal.
Look for connections. Look at the continuum of life. If you are in a certain situation, then in addition
to the first thing you purchase, you WILL have a need for various other products and services. Look at what
is logically related, before, during and after. Consider the entire profile of the customer, from the product to
the age of the person.
Once you have done one deal, and have some assets tied up, think through all the other
avenues where you could apply those captive assets. (You already have one end of the deal tied up.)
You have to make connections with other people. If you dont sell well or connect with others well, you can
find someone that can provide even that for you.
Newsletter owners are an excellent example of a distribution channel that may be untapped with regard to
all the products and services that can be introduced to purchasers. Not just one sale, but multiple repeat
sales of multiple products.
You can even expand outside the scope of the newsletter. They may be selling in their niche already,
but if you look at the continuum of life and all the characteristics of their subscribers, there is no
limit to the number of other subject in which their readers might have an interest.
If you can tie up the rights to do certain types of promotions, you become the hub.
Bartering advertising is a very high leverage opportunity. You can trade $10,000 product for $10,000
advertising. In a JV, the advertisers overhead may be only $1,000, and they will have $9,000 to share with
you as a JV partner. If you or your JV partner barters or sells the product for less than its $10,000 price, you
can effectively convert it to cash.
You dont have to confirm a barter deal until after you have the products converted to cash.
Look for companies willing to trade because the marginal cost of each product is low. In the JV context, you
can build a lot of profit division with the margin. This also gives you a lot of flexibility to barter it with other
products, especially those which also have high margins.
Maintain the mindset that you set up each end of the JV separately for yourself. If you just put
the two ends directly together, you may lose your leverage. Tie up each end separately. Finalize
each deal with one end as soon as you are sure you have the other end also tied up.
Tie something up, create a profit center out of it, and you can even sell it back to the same company.
(Buyout provisions in your agreement.)
Create an organization to become your client. (Example, AARP was invented by an insurance company, so
that they could offer insurance to AARP members.)
Mentors are very helpful. They can lead you through transactional experiences, which ensures that you gain
the knowledge of how to do by experience.
Quote:
That the defining factor and monster success in the 21st Century is an organization or an individuals ability
to creatively collaborate with other people who have pieces of the puzzle they dont.
The network you build will become worth millions of dollars to you. It will be full of JV partners that have the
ability to do something as part of a collaboration on multiple potential deals.
2. How the Concepts Translate into Action for Me.
You will be one of the few people who visualizes the entire process and knows how to put it together.
The key is to control the prospective deal by making agreements with people that have underutilized assets.
Then you can orchestrate each end of the JV.
Keep in mind that you are building a network of JV partners, some of whom you can continue to
build multiple JVs with. Consider all of the resources of each member of your network.
3. Then explain that it is not the money that is the primary benefit, it what they will do with the money!
4. Then paint the picture in terms of what really motivates them to action: the new Mercedes,
the family vacation, etc.
5. Then emphasize how MANY TIMES they will be able to enjoy that motivating benefit from the profit you
will build for them.
You have to rehearse the mindset, conceiving the JV and pitching the JV.
Athletes dont become superstars without practice, and you cant become a JV superstar in your mind
without experience and practice.
All companies have voids.
Some have excess capacity they can profit from.
Some need new products that they dont have.
Others have a need for a service.
Others need value added information and products for their existing line.
Go to them with the piece they need to create synergy.
Look for companies that are doing well at the stage they serve. Look for those that are the perfect
vehicles to use as leads for bigger more expensive products and services.
(For example: financial newsletters might reach people with billions of dollars in investment capital.)
Go to people that are suppliers.
Show them how to supply someone elses product at a greater profit.
Show both sides how to JV and save themselves the overhead that the JV partner provides as an existing
part of their business.
All companies have inquiries from people that do not become customers.
Those inquiries can be turned into sales of other products.
They inquired because they had a need, but the first product did not fulfill it.
Maybe they need a less expensive product.
Determine the need and find a way to supply the product that fills the need.
Show a company its weakness, problems, under-utilization or other void.
They show them that you understand it in a way that can turn it to a benefit.
The investment they have already made can be used to make more sales.
Think of all the scenarios.
Every opportunity can probably be structured into 5 or more different strategies for JVs. Pick the strategy
that fits best for the company and your own profit strategy.
Lay out the details, so that they can trust you.
Dont hold back and tease people, or they may doubt that you can back up your promises.
If you work for a company:
1. Take existing products to people who trust you, and make a JV between your employer and your contact
to sell to your contacts market
2. Bring companies with back end products, and make a JV between your employer to sell the products on
the back end to your employers customers.
3. Create JVs where your employer provides leads from people who dont buy from your employer, referring
them to companies who can sell complimentary products to those people.
If you can acquire someones sales force for your own selling, then you can also acquire that sales force and
create a second JV to sell a third persons product.
Look for one-time opportunities, when you see an event coming:
For example, if a seminar is not sold out, get the rights to the unsold tickets.
1. You can sell them at a discount and keep some of the profit.
2. You can fill the seats and take part of the sales at the seminar.
3. You can give them away at a discount or free, as part of a promotion for another JV or to create more
opportunities down the road to sell to those people.
Understand return on investment.
There are many resources that companies have already invested in. If they are underutilized, then the
return on investment is limited. Using them requires no additional investment, it is all return. You can afford
to give some of it away, because the return on investment is measured by the life of the resource. Show
companies what is possible. Animate them with the sense of what is possible.
Whatever you lack, or whatever a JV lacks, you can get it. You can JV and bring the missing needed piece to
the JV.
Anything you lack or dont have time for, someone else can provide.
There is a lot more money in JVs than anything else, but you have to work with people who are going to
make the JV happen. People who just passively theorize but dont take action arent worth the time.
2. How the Concepts Translate into Action for Me.
There are four parties to any JV.
1. I am the person who conceptualizes the JV, pitches the vision and makes it happen.
2. My primary audience is a person or company with a market. They are going to deliver my message to
the purchasers. They have already invested in capturing the market, so every dollar they make is return on
investment. Their main concern is the impact of the JV on their relationship with their customers. You have
to leverage the JV to make them look good to their customers.
3. My secondary audience is the customers of my primary audience. They are going to purchase.
4. Product and all the pieces of product fulfillment can be provided by me, by my primary audience, or by
third-party sources, either as part of the JV or coming from a second JV that I put together. To appeal to a
provider of product, the vision of the JV compares cost of acquiring customers to the benefit of the customer.
The provider can offer you part of the value of one or more sales, depending upon the frequency and size of
purchase you are able to bring to them.
Walk through the steps of putting together the four parties to the JV.
1. Think of all the people and companies that can work as a primary audience for you. All they need is a list
of customers or potential customers that they can contact. They could be a media company, a company
with existing sales data, or just a resource of names.
2. Then think of all the ways they can reach their customers that makes them look good, while they offer a
product that you will provide. If they are already spending to reach these customers, there is little or no
added costs. This is what make the JV appeal to them.
3. Then think of how to appeal to your secondary audience, so that they purchase.
4. Then look for all the products that you can create, or that you can JV with someone else to provide. What
is the cost of fulfillment? What is the return on investment for the product? Select the most profitable
products that fit your vision of the relationship between the primary and secondary audience.
5. Look at all the possible scenarios for a potential JV. Select one or two. Create your vision for the JV.
Create and rehearse your pitch to the parties involved. Be prepared. Put the JVs together.
6. Think long-term. Can you leverage your primary audience or your market access again and again to
continue making sales of additional product? Can you build trust as a foundation for larger and more
frequent purchases?
to all current customers and past customers (because they may just need something else to buy for
relationship to continue)
own that niche for people who want (1) something of value for their customers and (2) an
additional stream of income
target top 1000 companies versus focus on dream 100 companies? (combination: low hanging fruit that is
easy to get short-term, dream relationships long-term strategy)
STRATEGY ISSUE #1: who are you going to target? (identify individual companies)
Identify the prospective paths, referral routes to your end user
How are you going to get the relationship or pay for referrals?
Before you pitch, you have to ask a LOT more questions (see JAs pitch below)
Explain the commitment before you ask for the commitment
(JA gives his shot at the pitch)
Begins by recognizing what the organization has accomplished.
Asks what was the owners motivation to build the organization
Identifying keys to relationship between company and customers/members
Then recognizes that company has brought significant benefits, products to the customers
Asks owner to identify what some of the benefit are that have been provided
Then says, I want to give you my vision for something else that you can provide
Give a comparison of your company to what else is out there, to show how it is something that the
companys customers would really want, has value to them.
We are looking for long-term relationships with organizations like yours, to create for you a customized
program tailored to what is best for you and your customers, and then bring together the best product with
the best benefits, then we provide the turnkey marketing to reach you customers by email, website, direct
mail, etc.; and we provide that systematic strategy to make an initial contact with your customers and then
follow up to support and continue marketing to anyone who has not subscribed
Then testimonials provided.
And the byproduct is that your organization gets in income stream based on what your customers purchase.
Track 0105
Then JA talks about the financial and other benefits to the customers.
Then JA talks about the revenue to the company.
And this shouldnt be the motivation, because the benefit to your customers is the motivation
But this is the kind of money you will earn if we are successful, which I think you will because we
have really
created a powerful marketing and support program to make this happen.
And let me ask you what you might do with that stream of income. This is what you are trying to do as an
organization. If you had this kind of additional revenue, these are things that you might do with that
money to build your business or realize some other dream that you have.
And we have an agreement where we spell out exactly what we are going to do for you and how you will be
paid.
And if we dont perform, you can kick us out.
Because we set this up, so that your members benefit first, and you benefit second, and we only benefit if
you are satisfied and we continue to earn you business.
I put myself in your place, and I thought what should you ask me, what should you know about
my company before you make a decision on this.
1. I would like to know more about the people that you serve.
2. I would like to know the certainty that you can deliver.
3. I would like to know how long you have been able to sustain your current customers.
So I would like to provide you with a list of our customers
And I would like to show you the marketing program that we have prepared
And you can even use this marketing to grow your own client base
And you have probably used this kind of service in the past, and your customers probably have, so if we
need to cover the cost of changing service providers, we will do that
Realistically, most affinity marketing doesnt bring results because it is not part of a sustained
program. Most people dont buy on the first contact. Most people buy after 7 to 9 contacts. So
if you only pitch something to them once, you are not going to get a strong response. But if you use the
sustained marketing program that I have provided, you will definitely see the kind of numbers we are talking
about over time.
And you can turnkey this and offer an extra stream of income on a similar basis for your customers to offer
to their clients.
Take what JA has presented, transcribe it, make a script for yourself to use. Incorporate the ideas into your
direct mail and other marketing.
Strategy: figure what everyone else is not doing and do it.
Tactical: the presentation
Strategy: what is the targets primary concern? The benefit to the targets customer base.
That is why JA marketed to that concern above others.
Strategy: here is what we think the issues and problems are, are we right?
Strategy: demonstrate that you have covered all the bases, but they never lose control
Strategy: let them know that it is a sustaining process that will fit their customers, customized as they would
like it
Strategy: their customers will buy in over time, producing income to the target
Strategy: show them what that revenue will allow them to accomplish (company or personal goals)
Strategy: but that isnt the reason you should do it, it should be the best thing for your customers (their
major concern)
Strategy: and I am going to prove we can do it by giving you these customers who can provide testimonials.
Track 0106
Dont even work on the tactical until you have a larger strategy that it fits into.
Because very few things will be accomplished with a single tactic. Trying one thing wont do it. You will
achieve nothing if you stop after one communication.
Send letter, follow up call, testimonial, sample your product, etc.
Leverage with people that have already created relationships improves the return on marketing and shortens
the time to acceptance.
1. You have to really paint a picture of the benefit, their end benefit. They wont automatically associate the
achievement of their goals with the achievement of what you say the results your product produces.
2. You have to let them know what effort will be required of you and them (ie how long the marketing
system requires) before you will get the anticipated sales results.
Track 0107
3. Let them know what you are going to do to turnkey it, take the risk and effort out of it for them, and how
you are going to make a benefit for their client that their client will thank them for bringing to them.
Making those points answers the essential objection of why should this work, when other things havent?
A. It is a process, not an event, and we understand that and have a program and a process to achieve the
success that other programs and other companies lack.
Instead of skirting the issues, say Let me tell you the questions you should be asking and
Here is what sets us apart
These are the things you need to know about us , and here is what we need to know about
you
Storyboard the presentation and analysis JA just did, so you can use it for yourself.
Picture funnel.
At top: major issues of interest to your target: Four biggest problems faced by ; Three reasons that x
problem
[They have probably had one of the problem, and they can understand your explanation for the failure or
problem]
Next: let me tell you how you solve that.
Next: how to buy
Next: how we work (which fits with how to solve the problem and buy, making you the logical choice.)
at the bottom of the funnel, the logical conclusion is that they buy.
Track 0201
Make sure that the tactics you are using support your larger strategy of who you want to
ultimately leverage and who you want in your network that will build and build the success you
want.
Then figure out the sequence and tactics to fit your strategy.
Once you set up the people, you let them know, we are so well connected, we can bring you other quality
services, which allows you to control an endless distribution channel.
If someone wants a product, why not find a provider and be the key to bringing that product to your market
and other peoples markets.
Your distribution channel is underutilized if you dont build it to bring additional products.
To maintain the best relationships for your distribution channel, you have to have the kind of integrity which
involves bringing value to the end user and make your network look good and also share in the income when
appropriate.
Who implements? A. The company that sets up the strategic alliance.
It wont be as important to them.
They wont execute effectively.
You have to communicate with them that you are going to do it for them turnkey without taking away their
control, without exploiting them.
If its your primary business, then you do it.
You drive it, because they are going to keep doing what they have already been doing as their primary
business.
Okay, here are the reviews of the first four calls from the Joint Venture program. So far, I recommend just
reading the notes below for 1-3. Call 4 might be worth listening to, if the notes hold something that interests
you.
I would not bother to listen to the first teleseminar from the new material. I have listened to the entire 90
minutes and this is all I produced in notes:
Call 1:
JA's JV program:
1- Do JVs for your own business
2- Find JVs for others and take an interest
3- Finding deals for JA
4- Pick up deals from JA
Keys to attractive JVs
Person has a market, and they are looking for a product
Market can be client list, referral network, distribution channel, etc.
Easier to bring a product to an existing market
Problem with getting involved with a startup is lack of positioning and
capital
They don t have ability to do test marketing to measure what will work
Linkedin.com
Networking resource
Good introduction - put in profile information that markets you as a
deal maker
Services businesses are easier to scale
Manufacturing requires more work to affect changes
Call 2 was a little bit better. It started out with a bit more content, and then got weaker. I wouldn't take the
time to listen to it, but here are my notes with time references if something sounds interesting to you:
Call 2:
2:00 Where to start looking for JV opportunities: in an industry where you are familiar.
Who do you approach? People you already know; people who are easy to get to; then build a referral
network.
9:00 set up
Deals presented to JA need to be clear enough for immediate decision.
Deal-making is a cumulative science/process.
14:00 Example of credit card processing opportunity. There was a good deal, but it was presented with the
wrong structure.
Think about all the different levels which can be structure for JV.
21:00 Example: godaddy.com
Example of providing large number of products (upselling opportunities), many products offered through JVs
22:00 Example: teaching business seminars in Asia, created network of Asian companies available for JVs
with American companies looking for opportunities in Asia.
46:00 To find the opportunities, ask, Of the people I do business with, what other things do they need in
order to be successful, meet another need, or solve their problems? Profile each of your clients. What do
they do with you? What do they do with others? What gaps exist where you could identify an opportunity?
48:00 Dentists and other professionals offer huge opportunities, because they may be very good at what
they do, but may not be skilled at business. Many opportunities to provide a benefit to their business and
financial circumstances.
49:00 When entering into agreements, be sure to clearly define calculation of costs and profits.
57:00 Rita describes the bio/profile that she provides to clients.
She lists both professional qualifications and business experiences.
Like call 2, call 3 started out alright. But once Spike starts interacting with the group, the call loses most of
its value. Here are the notes with approximate time marks.
Call 3:
3:00
1. Look for people who have a need for what you do.
2. If you have access to other peoples products and services, look for people who need the things to
which you have access.
3. Who are the people that are trusted by your prospects? Look for access points, endorsements,
and ways to leverage the prospects' trust of those people to advance your opportunity.
4. Trust your network. Easier to contact people when you analyze your network and look for opportunities
there.
6:00 People will be qualifying you, you need to also qualify them. Pick the right deals with the right people.
Make sure that the parties have the ability to fulfill.
Look for people who have untapped demand for their product.
Look for under-utilized and under-performing assets; assets which can serve multiple purposes
simultaneously that are not being utilized to capacity. Could be customer lists, distribution systems,
employees, space, etc.
11:30 Either bring an opportunity or a solution to a problem.
Good if you have access to organizations and affiliations within industries that JA can bring a product to.
18:00 Measurement is extremely important. It should be the first issue raised with a prospect:
What is the cost of acquiring the client?
How much revenue does each client generate from the initial sale?
What are their repurchase patterns and value?
What is their referral value?
The answers help identify the opportunities that make sense.
24:00 Look for market validation.
If it is working in another location or industry, it may work for you.
Sometimes you can borrow from what a competitor is doing successfully
26:00 present ideas in terms of the values that are important to them.
28:00 Example: a caller analyzes one of her opportunities at various levels.
What are long-term goals?
Ongoing discussion of peoples ideas and reactions from Spike
Understand the market
Understand the profit
Sell your knowledge, expertise and relationships
1:07:00 problem of checking records (profit verification)
If you dont have the expertise, you may need to bring someone in to help you
Call 4 had a lot more meat to it.
Call 4:
19:30 First questions to ask to identify JV opportunities
What other non-competitive buseinsses serve my target market?
What other businesses serve your target market? Identify them for
What additional products or services to my customers want or need?
21:00 Qualifying opportunities.
Startup: little or no capital or revenue - generally disqualifies the opportunity
22:00 Suspect: not a startup, but not yet a setup, has most of the following:
Capital, revenue, established in business, established infrastructure, market potential
Underutilized assets
Underutilized relationships
Adequate margins (growth needs to lead to increased profit)
Company leaders willing to look at doing it better, faster, cheaper, growth (attitude)
If you have to convince them to consider, they fall into suspect category
25:10 Setup: all the above elements of a suspect, plus:
Call 5:
13:00 To prepare to present a JV, you have to understand what the concept means for all parties.
You have to have it internalized and be able to convey it.
14:00 Successful companies are risk averse. You have to foresee how to allocate and manage risk.
Four critical components of getting someone to say "yes":
1. Opportunity for all sides clearly understood and realistic.
2. Risks to all sides understood and considered manageable.
3. Validation exists in another company, organization, market, or industry
4. Consistent with the goals and objectives off all parties
19:10 How do you prepare? Anticipate and prepare answers to questions and objections. Even if you don't
have the answer, you can be prepared to react to anything that is raised. Add your own questions to Spike's
list, below. They may have these questions, even if they don't raise them, so you may want to address some
on their behalf as questions they should be asking. Quantify the answers and be as specific as possible when
appropriate.
21:10 Presentation Development Questions:
a. Where is the opportunity for each party?
b. What is the benefit to each party?
c. What is the potential strategically, tactically, financially for each party?
d. Where are the risks?
e. How will they be managed, avoided, or solved?
f. What other companies, organizations, industries, markets, etc. have done similar ventures and been
successful?
g. Why were they successful?
h. What measures are being proposed to assure the same successful outcome?
i. What other companies, organizations, industries, markets, etc. have done similar ventures and been
unsuccessful?
j. Why were they unsuccessful?
k. What safeguards, corrections, measures are being proposed to prevent the same unsuccessful outcome?
29:30 You don't have to have the answer to each question. When you don't you can ask others to help
provide answers, but you can even raise it to the JV partner and tell them you don't have the answer but that
you should work to find an answer before you go forward.
Additional Points:
32:30 a. Have a clear goal in mind, ways to objectively measure it, and effectively manage it.
34:10 b. Look for partners with compatible goals, cultures, and personalities.
36:10 c. Manage the relationships AND the venture.
37:50 d. From obstacles comes opportunity. They would be doing it themselves if it wasn't an obstacle for
them.
40:30 e. Create credibility and instill confidence.
41:50 f. Marketing is about conveying value.
42:50 g. Sales is about conveying trust.
43:50 h. Ask questions and listen. JA uses Socratic method to question, learn and teach.
46:50 open lines
1:08:00 How do you find out what other companies have done to be successful, that can be applied to JVs?
(Just stay informed by reading, talking to people in different industries, develop your own network, develop
your own expertise, internet resources, contact someone who might know.)
Call 6
To find JV opportunities, you MUST complete your self-survey of who you know and potential
opportunity connections that you have.
If you interview people, you may find opportunities just through bringing up the relevant topics.
You have to be committed to doing the homework and applying what you learn.
Start-ups involve more work. There are always companies that are looking for ways to expand their business.
If they have the right resources, they may just need someone to come in and take the lead.
Don't use email to make the first contact. Use email for people you know well enough that they
will give appropriate attention to your email.
Start with people you know.
Start with people who can access the people you need.
Methods to address Risk Aversion:
1. Test your ideas with them. Don't propose to make global changes to their business or full rollout without
some validation.
2. Performance based compensation
3. New profit center
Types of deals
a. Add-on products and services
b. Cross promotions
c. Referral systems and networks
d. Bonuses and product/service bundling
e. Unconverted Leads
f. Soft\marketing
g. Getting control of a product or market
h. The Abraham Group Consulting Services
Ways to get paid
a. Flat fee
b. Commission
c. Revenue Share (Make sure that contract contains a mutual performance provision.)
d. Equity
e. Barter
f. Reciprocation
g. Publicity and Goodwill
55:30 open lines
1:02:00 Opportunity mindset: so many opportunities: go to a conference or show locally and just meet people
and ask them about networking and business opportunities. You can meet people very quickly at these types
of events, because that is part of reason everyone is there. (You can share opportunities for your business,
their business, or look for opportunities to teach what you know.)
1:14:00 homework:
Read case studies for examples of JVs and other business case studies
Fill out your "Relationships, Knowledge, Expertise" materials (foundation for finding deals and identifying
correlations for opportunities)
Identify a relationship, and then use the Development Questions from the last call to formulate a plan and
prepare your presentation of the JV idea.
NVinc.com (business formation resource example)
Call 7
Profitability and probability (pick deals with high probability.)
Types of deals/Case Studies
a. Crusher waste and bike trail (cost savings, using waste examples)
b. Executive Art consultation/broker (sales commission from artists for selling their art and fee from
businessmen for decorating their offices)
c. Unconverted competitor leads (already spent the money on marketing, keep the name and info and
determine how to profit from it. Referral network, another product, etc.)
d. Apartment rental: referral relationships for furniture rental, restaurants, moving, etc.
e. Real Estate Agent: referral relationships for landscaping, pool service, moving, junk removal, etc.
f. Factoring, asset based financing, legal settlements
g. Expert/consultant networks (refer to each other in network)
h. Consigner services
i. Consignment
j. Corporations, organizations, associations discounts
k. Host an expert, seminar, workshop
l. Limo companies: referral relationships for hotels, food, etc.
m. Priceline, Ebay, Amazon: capture names
Resources:
Andy Miller article
Barter article
Partner or perish
Sample JV letters
Stephen M.R. Covey article
Call 13
1:20 open lines
Spike exchanges pleasantries with participants and listens to their concerns. The bottom line is that
everyone would like to put together JV deals. Any surprise there?
Qualify the people you want to work with and set requirements. Be willing to walk away from people
who do not want to pay your fee, meet your standards, or who dont qualify. You are better off in the long
run to only do it right.
Copywriting Template
I have synthesized all the different templates into one list of four steps, with various elements listed as
options under each step.
1. Get Attention.
Promise most important benefit in headline
a. Superscript teaser
b. headline attention of desired audience
c. subhead
d. salutation
2. Arouse Interest.
Immediately enlarge on your most important benefit
Tell specifically what reader will get.
e. Opening Hook: if you , then
Focus on the Customer
Describe
Persuade
Proof and Testimonials
Establish credibility.
f. Your Story
3. Stimulate desire.
Show the Advantage
g. USP
h. Appeal
i. Benefits, Benefits, Benefits
j. Bullets
Build Value
Differentiate you from competition
Write with Enthusiasm; transfer enthusiasm to the prospect.
Tell the reader what he will lose if he doesnt act.
4. Close with Asking for Action.
Rephrase your prominent benefits in the closing offer.
k. Bonuses
l. Dont Decide Now you cant lose
m. Price dropdown justification
n. Risk Reversal guarantee
o. Close the deal buy now
p. PS