In this book I'll be quoting extensively from Jay Abraham's publications and to lesser .. on all the expensive Jay Abraham marketing courses ever sold. Jay Abraham - From Mediocrity to caite.info - Ebook download as PDF File . pdf), Text File .txt) or read book online. Jay Abraham - 17 Immediate Marketing Solutions - Download as Text File .txt), PDF File .pdf) or read online. JAY ABRAHAM - 17 IMMEDIATE MARKETING.
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caite.info The Artist\'s Way Julia Cameron Money-Making Secrets of Marketing Genius Jay Abraham and Other Marketing. The one single concept that captures whether or not we succeeded year in and year out in the IT industry was our ability to execute consistently the Strategy of. Find the Motherlode of. Wealth in Your. Business. (And Outperform Your Competition. Again and Again, Even in Turbulent Times). WITHJAY ABRAHAM AND.
Take mortgages. I'm not going to touch them! I went to them with the confidence and the synergy that I had a piece of the puzzle that they needed -. They were responsible for the stock. They may need a handy person.
And don't worry -. You don't need to rely on one vulnerable. You can penetrate ten new market sectors instantly. You can do things that have much more grandiose possibility. Enhance product development. For now. When I worked with Nightingale Conant. And you can do these things almost overnight. I'll explain precisely how to seize and realize these benefits when we get to the "How To" section of this book.
Joint ventures allow you to take advantage of these factors in a much broader sense than you possibly could with your own company. When I was doing joint ventures only meagerly Develop new business opportunities through new products and services. You can get products through your system like mad if you joint venture.
From Mediocrity to Millions And that's always my plan -. Expand market sector development.. You can serve your clients' needs in ever-expanding ways by bringing them related products or services that they'll easily understand and be receptive to..
In other words. I concurrently became the key note factor in the chiropractic field. And remember. From Mediocrity to Millions Diversity. Reduce cost. Joint ventures are a great. I have "name brand" people that recommend me. I do joint ventures for people all the time. Doing business as an island is expensive. You can expand your company's client base. Create new businesses. You can add so much more revenue and impact to whatever selling efforts your company makes.
Let's take me as an example. Joint ventures provide a chance to harness other peoples' knowledge base efforts. You can enter a new market on a worldwide. As a direct result of my joint ventures with other people.
If your company sells repeat or back-end products. I get posture on a worldwide basis and in all kinds of places because I understand the mindset that the back end is where you can make a fortune. We'd have to spend enonnous amounts of time creating brochures. Enter emerging markets.
Most of us don't have the learning curve. When you realize the infinite number of ways you can make a ton of money either for your business or as a middle person. Enhance competitiveness in existing local. You can lower the barrier of entry. Massively boost your market presence.
Expand your horizons. Requires little or no cash 6. Firmly establishes your unique position in market marketplace Strengthens your reputation in industry markets Equally unlimited joint selling or distribution opportunities 3. Almost unlimited joint marketing opportunities 2. Provides easy entry to emerging Access knowledge and expertise far client benefits beyond company borders Drastically widens your scope of Very easily established Fortune 1. Substantially lowers your barrier of enhanced results Significantly augments your ordinary selling efforts Expands client base far beyond its That's pretty exciting.
Gain a firm foothold in international innovation Expand and explodes your horizons as result of association From Mediocrity to Millions With one phone call and a good ability to get through the gatekeeper. Provides much-appreciated added research and development value to clients 9. Control other people's markets marketplace through preemption Contribute substantially to perceived Expand significantly beyond your current limited geographic boundaries Extend product offerings to new.
Allows capitalization on others' 8. Drastically increase overall sales and profitability Strongly enhances and elevates your Speeds access to wide varieties of new Secures your position as front runner in Gain a clear competitive advantage Far less risky image Facilitates design collaboration and 4. Rapidly overpower the competition selling ability Page Enables favorable control of other's current limits technology license 7.
Boosts your market presence Remain totally focused on your core relationships opportunity It's a very strategic move. My partner looks like a hero. I take my family on a first class. It worked really well. Nearly impossible for your competitors to imitate or emulate and outsourcing I let my partners' staffs work for me. That's almost I have 2.
Everybody wins. Gain foothold in international marketplace -. Outsourcing non-core competencies I have or additional buyers in 40 other countries in the world. Reduce overhead through shared costs Set up instant distribution networks The return was very..
Contributes substantially to perceived client benefits -. At one time I had 30 people on staff. When I do deals with people to be promoted to their client list.
From Mediocrity to Millions I have I always. And in the few times I need to travel to serve them. Yet when I went down to only four.. Capitalize on hidden assets You can share display booths at trade shows. You can go in their packages. You can get "free rides. It's just incredible. I bought space in people's newsletter mailings for variables. Your ads can be blown in. Right now in my basement I've got a billion dollars' worth of research that was shared with me by the preeminent company in the world in the field of litigation consulting.
That's all he does -. I'd stick two of them inside the newsletter. I then went out and got other people's mailing offers and reduced each down to eight pages from sometimes 12 or Joint marketing -. Your products or services can be cradled in their catalog.
You can ride along with salespeople. Technology license -. And because the insert carried the implication of an endorsement. They were delivering about You can go in their inserts.
Best of all. One of the first strategic alliances I did was in or '80 with Howard Ruff. If you know what to do with those intangible assets. Just as I have. From Mediocrity to Millions Control other people's markets -. No one used inselis in newsletters at the time. Research and development -.
He's demonstrated that that's where the real growth comes from in articles in The Journal. I bought the rights to insert in their newsletters. They were paying 60 days out for the deal. University Clothes in Macy's. Gain a competitive advantage -. I didn't have any money at the time.. From small deals to large. I got day tenlls. I can think of no other activity that has such a wide open field of opportunity. And here's another benefit.
But I said. It's hard for me to stop once I jump into the topic ofjoint venture benefits.. I'djust gone through a divorce that cost me a fortune in lawyers.
I'm sure you get the point. American Express built up a whole profit center by saying. Just put me on with your printer. Let's offer other people's products and services as well as our own. That deal made me a half million dollars. It turned out to be really great for both of them.
Did you know that Allstate Insurance was the result of endorsements? About 20 or 30 years ago. I would have had to try to borrow it from somebody. And though they didn't really guarantee I'd get the same tenlls.
From Mediocrity to Millions Now. Here's a few examples from outside my own experience.. The concept of credit card inserts is the ultimate personification of strategic alliances. Sears started giving Allstate free kiosk space in their stores. I like that. I was talking to a client of mine about staff management. My client said to me. And while his partner takes care of that deal. I have a group of people working for my benefit.
I'm able to capitalize on all of the assets. He doesn't even have to be on the phone call while his partner does what he needs to do. Why not figure out a way to collaborate with them? My attitude which should be yours is: There are tons of people out there that have already spent a fortune. I don't manage particularly well. When I'm done. But I learned how to get the effect of billions of dollars' wOlih of really good managers and capital.
It's called. So I have lots of people that do things with me. I'm going to go play with my son. You Only Have Two Hands? Not So! An associate of mine is in the middle of a deal right now. I'm in my sweat suit. From Mediocrity to Millions I'm writing this book for you in the comfort of my home. I have my slippers on. Carl Turner. He's a joint venture partner. Because anybody can do it once somebody simplifies it for you. That may sound arrogant and maybe a little egotistical.
I just want to inspire you to raise the bar of your aspirations. Would I say that it is something that I can teach anybody to do? My client's company was steadily declining.. I'd like to tell you about a few great ventures that all share a COlllin factor which you'll quickly recognize. From Mediocrity to Millions Chapter Four: Welcome To My World.
But I saw things differently.. Before the company succumbed to bankruptcy I said. After a respectable run of success his market tides had turned. I once had a client who owned a big computer company in Los Angeles. The next joint venture scenario involves a totally different business sector and scenario.. In the struggle to hang on for as long as possible.
You can bet we made good use of it for ourselves as well.. They gave us the manual for that program and let us use it as our own. We wanted access to their logistics manual. Have it yet? I'm sure you do. I thought that was pretty clever.. He had hundreds of them in every city. It was great. It was structured very logically into "What to do six months before the program He went to all kinds of stores that had ground floor space and got an option to the rights to put signs in their windows advertising other people They were the first.
When I went through my last. They could go to a TV station and package it. I held a lease for a big office space that I didn't want anymore. They could tie up a writer. In evelY scenario. Another was MeA. They realized years ago that they could do strategic alliances. They could tie up agents. You're only limited in scope by your own imagination. Jack Nicholas or Andre Agassi and make them catalysts for other people. I negotiated to put somebody else in my office space -. I have a nearly endless variation of examples illustrating ways that people have used joint ventures and strategic alliances for someone's business or as a middle person "dealmaker.
One of the ultimate experts in joint ventures and strategic alliances was Marc McCormick. He basically negotiated deals.
It's a mindset.!! I was so desperate to get rid of it that I was willing to l2. If you can harness an asset that anyone -. They could tie up a producer. A young. Whether you stlUcture little deals and flip them to other people.
From Mediocrity to Millions Now here's a great story about harnessing massive goodwill. I've heard three variations. Whether you build up your own business by broadening your markets.
Then you'll be able to borrow all the money you want.. After doing something sincerely hem1felt and nice for one of these three men whichever it was! Whether you go out after little deals to start with and build a portfolio of revenue money machines.. Whether you align yourself with a captain of industry Believe me. From Mediocrity to Millions. How You. On one ofthe first ones I did. On the next one. So out of economic necessity for myself because I was always paid on perfom1ance and for the people that I worked for who were very admirable and passionate.
Of all the avenues of wealth building.. Joint ventures was the route that I started with. So what did he do? From Mediocrity to Millions I'm lucky.
I can nonnally have a conversation with them in an hour or so and give them so much value that they're honor bound to reciprocate. Just like the rest of us. If they don't know me. I also have an ability. But do you have to have that kind of reputation and impetus behind you to structure masterful deals? Let me take it down to a more basic level by sharing something from a "friend of a friend's" experience.
I've been doing this for probably 25 years. I can go to somebody who has either benefited from my services. Case Study 6 How To Make Money In Your Sleep An associate of mine was the patient of a podiatrist who didn't even realize he was doing a joint venture when he told my friend about this: This podiatrist had rental space for which his lease had expired.
I can go to almost anybody else in the entrepreneurial arena and odds are if they're entrepreneurial they know of me or my reputation. Did that podiatrist have sophistication. And that's a joint venture. When I first started in business. He just recognized a need that he himself had. You could even take his method up another level.
Of course not. You can go to a company and build them new profit centers. He got the place for less than hm'lofwhat he was originally going to pay for a renewal of his own lease.
I made joint ventures with them to use their warehouse space for somebody else. You can be a middle person. Whether you own a business or not. So from 7: From Mediocrity to Millions He found a sleep clinic that was only open from 6: I made arrangements for them to have other people use their telephone sales department personnel when Page You also can go to companies and get access to or functional control of their distressed or under-utilized assets or opportunities.
You could pay a percentage of your revenue up to a slight premium over market value. I went out and found big companies that had unused space. In a sense. And that's truly exciting. From Mediocrity to Millions they weren't being used. After learning the basics. Now let's go a little deeper. I made anangements to joint venture space at people's tradeshows. I almost hesitate to name and number the deals that I've made. When I started out doing deals joint ventures.
I didn't have any expertise. With that said. I went to college for all of four days. I'm sure that once you carefully study the these factors and get a few "test runs" under your belt. I have no fonnal advanced education. From Mediocrity to Millions Section Two: The Joint Venture Mindset Before we begin our "exploratory surgery. But once I mastered the fundamentals.. Strictly speaking.
I was fascinated and deliriously delighted with the fact that they were so easy to do from a standing start. From Mediocrity to Millions Chapter Five: The Fundamentals There are some fundamental elements of the nature of any deal that make j oint ventures the most lucrative. I'd like you to concentrate on the pure power that each of these principles releases.
Don't worry about the mechanics of putting these elements into play for now. The first is that there are very few people that have all the money they want. Those factors all work in your favor. We'll go into exactly how you do that in the next section. When you can turnkey a deal for someone where you do all the work.
I'm not saying you're that way. We're going to take an in depth look at each one here. I then went to a very well-known chain of mini-marts in the Midwest they had 40 units alone in my city. I was probably worse off in many ways than many people who don't have much money.
I had a used car that didn't lUn half of the time. I actually did nothing. At that time. They had over-produced. He'd drive to all the stores. I took inventory every week. I found out they had an oversupply in their inventory. I found a company that was loaded with these tapes -. So as a something-year-old. Not really. But to make the story a little bit more exciting. I put the deal together with no inventory and no capital.
I owe it all to my passionate belief that other people needed me Page I was malTied. Although they sold them all over the country. Business was bad. They let me put a case of 50 or 60 tapes next to the counter in each store. I hadn't invested a dime. From Mediocrity to Millions to make this happen worse than I did. These deals are easier to do than not -. So instead of trying to go to them feeling shamefully awkward with hat in hand.
They are not born.
He taught me one foundational concept: Here's How Now. I went to them with the confidence and the synergy that I had a piece of the puzzle that they needed -. I did have absolute confidence. They weren't making all the money they wanted to. Great joint venturists are made.. Am I better than you at making deals?
They needed something to sell to the people who inquired and didn't buy. He was doing them at a much more sophisticated level than I had ever hoped to do at the time but which would now be a very.
They needed value-added information. I had the good fortune of learning those mechanics. In the beginning I had a friend who was very successful. They needed new services. They needed new products. Realize this: Everything in business is either solving a problem somebody has. But there's no leverage in that. From Mediocrity to Millions "One person's distress is another person's opportunity.
So let's take a closer look at leverage -. I could have bought the whole inventory myself and then placed it in stores. It's really that simple.
For example. The curious thing is that I realized that I didn't have to solve their problems directly. Too much of the good. Then they pray and hope that that asset.
In both cases.. In the personal arena. In the moneymaking arena. If everything works out well. It most certainly is a powerful force in the momentum and direction of any deal it's applied to. Let me explain.. Although it's still cholesterol. Too much of the bad.
But if anything goes wrong that same leverage bites you viciously in the butt. From Mediocrity to Millions Chapter Six: The Power of Leverage The tenn "leverage" is heard so often in the business world that it's become almost cliche. It can bring you down. There are two kinds of cholesterol -. Think of leverage as you think of cholesterol. That's my leverage. The tape production company had spent millions of dollars on a warehouse.
But even now. They didn't want to spend even more money to search out new distribution channels to sell their overstocked tapes. But they were delighted to get the benefit without any risk. In the case of these mini marts. But I was able to capitalize on all that investment to sell my 8-tracks for no money out of pocket. From Mediocrity to Millions The kind of leverage that I deal in has infinite upside.
The investment is still there. But the tme "key to the castle" is our next fundamental -. How do 1. But they. I just took advantage of the awareness that they didn't want to spend money on something unproven. They spent millions of dollars in advertising to generate traffic and sell those products. Maybe it's a gift. You were adventurous. You were possibility-based. They're trying to avoid taking a bath. They're curious. The world was infinite in its possibilities.
They're trying to avoid taking a nap. For whatever reason. They're trying to find out what's out there. They're trying to figure out how to get up on the counter to get the cookies. Does that sound familiar? Over time. And then the system took over. If you go back in time and think of yourself when you were a child.
They're trying to get out of the house to see what's going on. From Mediocrity to Millions Chapter Seven: Your Creative Genius Everybody is born with infinite creativity. The world encroached. You experimented. Take nearly any little child.. From the beginning. I was able to direct my mind to constantly seek out connections -. You have within you an almost explosive stream of volcanic creative capability.
And that's where a lot of people get stuck. When I heard from one friend about the distributor with the overstocked 8-tracks. I was lucky.
Once "taking action" enters the picture. Once you reconnect with your own creativity and let it function freely. What if you're afraid to go out and approach people?
Once again. It will do the heavy lifting for you. The "creative pOliion of my brain.. Creative Genius. The flow. I filed that away. Of course. I deal with lots of people at all levels of the business arena every day. I put that bit together with my knowledge of the chain stores.
They think you have to go out. What they don't realize is you make the rules in joint venturing. There are a million people out there who are born salesmen and women. But for now. Let's go a little more in depth about one of the first and most important tasks that your creative genius will be working so hard on. Put your creativity to work again.. That can be daunting and intimidating to most people.
You don't have to go out and sell anybody. We'll talk about that much more later on in the book. There are a billion people out there who will move mountains. Make The Rules That's the beauty of it all. Most people think of joint ventures in the most linear way possible. How do you ferret out a joint venture opportunity where everyone else sees problems?
Discover Your Money Connection. There is a whole litany of things. They may need a landscaper. It may need painting. Let me give you an example: Say that someone buys a house. Once you understand those dynamics you can look at probably a thousand different industries and you'll easily see possibility after possibility.
And Unearth Riches First.. They have to make the physical move into the new home. They might have a garage sale. If you look at certain kinds of products. And I'm not saying you want to be a "garage sale joint venturer. It may need carpeting. They may need a handy person. They might want to redo the kitchen. What are the logical things that happen before. From Mediocrity to Millions Chapter Eight: Finding The Deal Now that you've recognized that creativity is your greatest ally injoint venture dealmaking.
Usually the new home needs something. It may need some embellishment. You can go into lots of industries and look at logically related products and services that are nonnally essential to the first purchase. It's a curious phenomenon that works to the savvy joint venturist's advantage. It could be a multimillion dollar product. From Mediocrity to Millions Let's say you put in new living room carpet.
All of a sudden your living room looks better. I'm working right now with a client who's selling a school product at a marketing seminar for seminar presenters. The second part is equally important.. I have to paint. There are probably a thousand scenarios of logical match-ups. Believe it or not. Then you can easily go out and find people to develop markets for you.
Once you identify what they are. I've taught estate planning people people who do wills and trusts to work with optometrists and ophthalmologists whose patients have cataracts.
She's just starting out. So maybe you say. It's so easy. The same is true for virtually any product or service purchase. But that's just the first part. Because their patients are the right age. You get the point. Once you find an opportunity.. And Mastery Of The Deal. My challenge is to make her a half million dollars or more a year.
When she does.
It's layer. I'll have more on focusing on and recognizing your absolute best opportunity later. From Mediocrity to Millions That would seem like a negative for most people. She's going to make a joint venture with them to either let her present her product at their seminar for half the profit. She's going to see everybody else attending that seminar that gives seminars of their own. So she's presenting her product now.
Now remember. Using a similar mindset. With Control. Let me illustrate more fully what I mean: I was introduced to someone at a party who just in conversation told me that he had imported beautiful Italian decorator plates.
He was eager. I think. Hopefully it will never happen to you. I drew up an actual written agreement. I asked him. That's an impOliant point to recognize one that we've talked about before. From Mediocrity to Millions In one of my very first joint ventures in my early 20's.
I got him to let me take it over. My "importer" friend owned them at about. Now this is important: I didn't try to be a salesperson for my friend. By the way. I was able to use the distribution channel I had set up with the department stores and the drug chains to sell three or four other things. He decided it was going to be his business. If it was a big store we might put 50 pieces in. You should at all times maintain control of the deal. He had been in Italy. I then had somebody go to all these stores.
The stores signed a consigmnent sheet saying that we lent the stock to them in exchange for the curios. They were responsible for the stock. We would put in an inventory that was equal to whatever their circumstances were. To do any less would be a waste of your time and newfound talent.
From Mediocrity to Millions Don't. Highest and Best Use. Find people who have sold everything they can sell to t heir client base, and offer these clients your endorsed products and service. So find out who already has the market and it could be a competitor if they don t ha ve as deep a product or service and find utilization with their clients. Instead of making the relationship overwhelming or creating implicit fear, say Ca ll this number and we will first invest in you.
We ll educate you; we ll show you th e good, the bad, the ugly. We ll show you who is right. We ll show you strategies. W e ll give you a way to test our concept. Then we ll follow up and discuss it with yo u, and if we re compatible, then we ll invite you in. Offer less threatening ways to educate prospects before they have to make a commitment. First, find out who else is doing this, how are they doing it, where are they do ing it and how well are they doing.
You don t need many to begin with. I don t want to do business the same way everyone in my industry does it. What should I do? First, work on building more referral sources. A referral generated client is ma ny times more profitable, less likely to waste your time and easier to deal with.
Another possibility is to find people who may be retiring. When he was arrested. If they have clients you couldn t support.
So we have a process: We have a choic e of spending our marketing budget on radio. We will never av oid anything negative and always give you the most well-reasoned decisions. Give me a specific step-by-step referral generating system I can use.
The r eal question is this: Sit with them and say. Can you make the competitors employees part of an ESOP? Are there other suppliers that have a big enough inte rest they would put up the money to be exclusive suppliers?
Think about all the possibilities before you write a big check you don t have to. So l earn all the referral strategies you can and invest real value in developing. We ll give them best-reasoned second-opinion.
What we ask is this: Upon achievement of this. How much importance should I pl ace on each source? Look at the numbers and what they are telling you. My competitor is for sale but has a broader customer base that I service righ t now. They don t have to use us. Is it strategic to buy them? If they have a lot of growth you could add by being a better marketer.
Why did you rob so many ban ks? His answer was straightforward. Where should I f ocus my marketing efforts? Willie Sutton was the greatest bank robber who ever lived. My business is coming from different sources.
That will pretty much tell you what to focus on. We re going to concern ourselve s. We v e chosen instead to invest in research. You can t build referral sources until you have a unique value proposition. Because that s where the money is. We believe that our success can only be predicated by the succ ess we create with clients like you and your desire to share that success with a s many other people you care deeply about.
He robbed more banks than anyone else. Every client we take on we share with them what we are going to do with them first. Think about it pragmatically and go to where the money is.
I want to share something se rious and relevant with you. Before we start this process.
Of one hundred percent of the business you do. There are certain problems you could find solutions to even by going out and hiring three of the top people whom all they did was solv e the problems.
Then have them promise to give you more if you solve it. How do I get my message in front of more of my target market and have them s elf-identify themselves? Don t waste your time calling cold. You re-channel marketing dollars into subsidizing the creative s olutions to the problems.
Who already spent the time. Av erage repeat: You have to understand what people value when you re not in their life. Then look at the real profit or loss that accrues. Doing more things. Average client stays three years. How do I create win-win partnerships to drive traffic to my business? Find people that have the clients that are doing relative things.