Abundance flows to contributorsDan Sullivan
Get a FREE copy of my Marketing Strategies e-Book for ideas that you can implement immediately into your business! “More Leads – Joint Ventures” is one strategy outlined in the book, which I’ll share here as well.
Do you currently have any established joint venture partnerships?
JV’s involve two or more businesses who decide to form a partnership to share markets or endorse a specific product or service to their customer base… usually under a revenue share arrangement. The key to creating successful joint ventures is to find partners who service the exact same type of clients that need or want what you sell.
Let me give you an example and I’ll use one we’re both familiar with… a florist. One of the most financially lucrative product lines for a florist is providing flowers for weddings. The average floral bill for a wedding often exceeds $3,000. But what we discovered about florists is they fall into what we refer to as an “event chain.” An event chain simply refers to a series of businesses that customers purchase from in a specific sequence.
For example, a wedding will never take place until an engagement ring is purchased from a jeweler. So jewelers are at the forefront of every wedding chain. Once the young lady accepts that engagement ring, this event chain kicks into high gear. First, this young lady knows EXACTLY where she wants to get married, so number one on her agenda is to book the church, chapel or synagogue where she wants the ceremony held.
Second on her list is to line up her wedding planner. Weddings today are a really big deal, and often women like to use the services of a professional wedding planner. Next up, she wants to secure the venue for her reception.
She knows most venues book out months in advance, so locking in that venue is high on her priority list. After that comes the wedding dress, so she begins the search for the perfect dress at an affordable price.
Next is our florist. The bride-to-be will want to begin selecting her floral arrangements for both the wedding and the reception. Then after the florist comes the wedding cake… the printer for the invitations and thank you cards… and depending on the financial ability of the bride to be, she may also be interested in hiring a limo… a DJ for the reception… a travel planner for the honeymoon… the hotel… catering and so on.
This event chain is typical of this industry. And for the florist, it specifically identifies a multitude of potential and very lucrative JV partners. But here’s why this becomes so important.
Every business ABOVE the florist has the potential to ENDORSE and SEND prospects to the florist. Unfortunately, the florist has NO control over that flow of prospects. Every business above the florist controls the JV relationship, so it’s critical the florist create such a compelling offer and relationship with these businesses that they feel obligated to send prospects their way.
But here’s what’s even better. The florist controls the prospect flow to ALL the businesses BELOW them in the chain, and by establishing specific processes and procedures to make sure their customers use those businesses, the florist can negotiate compelling offers with those business owners as well. So consider these numbers.
Let’s say this florist cultivates a JV relationship with at least one of each business throughout this entire chain. Staying ultra-conservative with our estimates, would you agree this florist… since they have NO control over the flow of prospects from these businesses… is it likely they could obtain at least ONE referral each month from just one of the businesses above them?
OK, would you also agree conservatively that since the florist controls the flow of prospects to the businesses BELOW them… that they could easily send at least ONE referral to EACH one of them every month? Keep in mind these are VERY conservative estimates we’re using here.
Since the average floral bill for a wedding is $3,000… then just ONE referral per month from those businesses ABOVE the florist increases their annual revenue by $36,000. Now let’s consider the businesses BELOW the florist where the florist controls the referrals. Let’s start with the wedding cake maker.
The average sales price for a wedding cake is also $3,000, and the florist could easily negotiate a 10% referral fee. So, just a single referral per month produces an additional annual increase of $3,600 for the florist.
Now consider the printer. The average sales price for printing is $1,000, and the florist again could receive a 10% referral fee, so that single referral per month produces an additional annual increase of $1,200.
If we stop there, this florist has just increased their annual revenue by more than $40,000… and that’s using ridiculously conservative numbers. Imagine if you continued to add up the revenue produced by all the additional referral fees the florist would earn from all the other vendors in this chain.
This same process holds true for businesses that aren’t in a chain. But just like the florist, they simply identify partners who service the exact same type of clients that need or want what they sell. Now I realize this looks easy, but it’s not… and here’s why.
You not only have to properly identify who would make an excellent joint venture partner for your business… but you also must determine the order to approach each one… how to approach them… and when to approach them. It’s critical you do this properly or you wind up burning through all of your potential JV partners and come out with nothing in return.
Let me ask you a quick question. Just off the top of your head, how many potential JV partners would you estimate might be a fit for what you sell? Would you believe that I could identify more than a dozen for your profession? So conservatively, how many referrals would you estimate might be possible if a dozen other businesses were compelled to refer their customers to you for additional purchases?
Conservatively, let’s say you only get 3 referrals every month that buy from you. That’s less than one per week. How much additional revenue would that add monthly? Now multiply that by 12 to see your annual revenue increase.
One more thing before we move on. Remember earlier we discussed the critical importance of creating a highly compelling informational offer that would promise so much value to prospects that they would knock your door down to get it?
Suppose the florist offered this informational offer in their marketing, “5 Things Every Bride Should Know to Avoid Disaster on Their Wedding Day”. This offer would place TONS of prospects into their drip campaign and result in a tremendous increase in sales. Those new sales can then be referred to their new JV partners and they collect multiple referral fees every month.
This would absolutely dwarf the revenue we just uncovered for the florist in this example. What I find really exciting about JV’s is this is a strategy I help my clients implement immediately… and it begins generating instant cash flow for them right out of the gate.
In a recent case study I conducted, I found $75,000 in additional annual revenue just using the JV strategy.
And again, that’s revenue that business will generate year after year after year.
$75,000 in additional annual revenue increases the valuation of that business somewhere in the range of $225,000 – $300,000.
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As a business coach and marketing strategist, I work with small and medium size businesses that have little or no money to spend on markeitng. I show them how to generate all the leads they can possibly handle without spending any extra on marketing or advertising.
One of my focuses is to look at existing marketing and dramatically reduce your existing spend while significantly increasing your response rate. I aim for a 2-10X increase in response rate, but 50-100X is not out of the question.
If you’ll invest 45 minutes with me on a video call, I’ll show you how I can find at least $10,000 inside your existing marketing. I’ll show you how to get it and I’ll show you how to put it in your pocket.
I’ll do that in 45 minutes if you’ll give me the opportunity at the end of our conversation to disccuss what I could do for your business. (with zero pressure)
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It was thought that running a mile in under 4-minutes was physically impossible for any human being. Until, at Oxford University’s Iffley Road Stadium in 1954, Roger Bannister completed four laps in 3:59.4. The photo of an exhausted Bannister with his eyes closed and mouth opened appeared on the front page of newspapers around the world, a testament of what humankind could achieve.
As important as anything, Bannister broke a psychological barrier with this run. This once believed impossible record only lasted for 46 days before Australian runner John Landy shaved 1.5 seconds off of his time. By the end of 1957, 16 runners had logged sub-4-minute miles. Since that time more than 1,400 runners have broken the 4 minute mile and the current record stands at 3:43.13. An impossible task until Bannister changed that belief.
Similar to the impossible 4-minute mile, breaking the 2-hour marathon (26.2 miles) was another barrier that seemed would never happen. In fact, researchers in Australia crunched marathon world records over the past 60 years and concluded that there was a 10 percent likelihood that the two-hour mark would fall by 2032, and just a 5 percent chance it would happen by 2024.
Last week, on October 12, 2019 Eliud Kipchoge ran the fastest 26.2 miles ever and broke through the seemingly impossible barrier of two hours with a time of 1:59:40. That is an incredible sub-4:34 mile pace for the entire distance.
Just like when Bannister broke the 4-minute mile barrier in 1954, Kipchoge has inspired a new generation to push their limits with what is possible.
“It is a great feeling to make history in sport after Sir Roger Bannister in 1954. I am the happiest man in the world to be the first human to run under two hours, and I can tell people that no human is limited,” Kipchoge said. “I expect more people all over the world to run under two hours after today.”
“Whatever the mind can conceive and believe, it can achieve.”Napoleon Hill
To live the life you truly desire, the first step is to break through the psychological barriers that are holding you back. You have to believe that you can get there.
Kipchoge believed he could break the two-hour barrier. Before the event he said, “Many ideologies [have] been going that no human will break the two-hour mark but personally, I have dared to try. I am doing it to make history.” After the race he said, “there was no point that I doubted myself.”
Look around. Your biggest dreams, the life you really want is not the 4-minute mile or the 2-hour marathon. Most likely, there’s already someone that is living that life. You don’t need to wait for someone to break through that psychological barrier before you can achieve it. That barrier has already been broken.
Your first step to achieving your goals is believing you can do it.
Where do you really want to be? What are your big goals? Identify the real and the imagined barriers that are holding you back. It’s time to break through those barriers and reach your true potential! Stop believing your own lies.
Not knowing how to do it. Not seeing the path. Thinking it’s impossible. These are all excuses that you’ve told yourself. Kipchoge figured out how to run a sub-2 hour marathon, you can figure out how to achieve the life you want.
Once you really believe you can achieve your goals you need to give yourself a path to follow so you’ll be able to reach the goals you previously thought were impossible.
In May of 2017, Kipchoge came up just shy of the two-hour mark during Nike’s Breaking2 project, finishing with a time of 2:00:25. After missing the mark by less than half a minute, he created the path he needed to follow to accomplish the goal a little more than two years later. This included his training and preparation all the way through to the pace setters and water delivery during the run.
Planning is key to your success. Figure out how you’re going to reach your ultimate goals and follow that plan. But be flexible so you can adjust quickly and make decisions when road blocks appear.
“The best way to predict your future is to create it.”Stephen R. Covey
Persist Until You Succeed
If at times you get knocked off your path it doesn’t mean it’s over. Adjust and figure out how to get back on the path again. Brian Tracy said, “Your ability to persist longer than anyone else is the quality that will guarantee great success in life. Persistence is self-discipline in action and the true measure of your belief in yourself. Resolve in advance that you will never, never give up!”
The first step in your journey is to see in your mind what it is that you really want and to truly believe you are capable of achieving it. The mind is a powerful force and when you use it to create the life and the outcomes you desire, amazing things will happen.
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He’s actually inspired all of us that we can stretch our limits in our lives and we can do more than we think we can do.Patrick Sang – Eliud Kipchoge’s Coach
“A man is what he thinks about all day long.”Ralph Waldo Emerson
The amount of information that we are exposed to on a daily basis is amazing.
It comes through social media, television, radio, books, and the list could go on and on. It’s great how much access we have in this day and age to information, but it is potentially dangerous as well. I want to look at the potential impact information can have on our lives.
I’ve talked previously about the importance of being powerful creators of our own lives. As we walk through this process it will demonstrate why it is so important that we are intentional about it.
You get in life what you create.
Create > Life
This is why you see people from all different backgrounds, countries and races doing amazing things in the world, regardless of where they start out. We’ve seen people rise up out of poverty, from having absolutely nothing and becoming extremely successful and wealthy. At the same time we’ve seen people who would be considered privileged, create amazing things in their own lives.
On the other hand, we’ve watched people on both ends of the same spectrum create un-powerful lives and end up even worse off than they began.
The things that you expect in your life are the things you create. What you expect to happen, drives your creative capacity.
Expect > Create > Life
But now, taking one more step back, where do your expectations come from?
You expect what you think about.
Think > Expect > Create > Life
Life is a result of what we think about. As Ralph Waldo Emerson said, “There is a deep tendency in human nature to become precisely like that which you habitually imagine yourself to be.”
But if you go another level deeper, what is it that influences your thoughts?
It’s the things you allow yourself to hear and see. The inputs that you are exposed to
Inputs > Think > Expect > Create > Life
This is why it’s so important to be conscious of the things you allow yourself to be exposed to.
In such a fast paced, chaotic world, all of the different media outlets are fighting for your attention.
Have you ever wondered why there isn’t a news station that just reports on the good things that happen? The happy, feel-good stories? It’s because they would go broke. It’s the stories of fear, tragedy and disaster that catch our attention.
Your brain’s job is to keep you alive, not make you happy and the media understands this. That’s why they don’t use the happy, feel good stories to grab your attention. It’s the tragic, shocking stories that get your attention. It’s the same reason traffic comes to a halt as people rubber-neck to see an accident, but at other times those same people don’t think twice about looking at the most beautiful sunset they would have ever experienced as they are making their commute home.
When you look at the path of how the inputs in our lives impact our thoughts, which impact our expectations, our expectations turn into our creations which results in our life you can understand why it’s so important to pay attention to the inputs we allow into our lives.
When you look at the path of how the inputs in our lives impact our thoughts, which impact our expectations, our expectations turn into our creations which results in our life you can understand why it’s so important to pay attention to the inputs we allow into our lives.
You have to protect your mind. You have to be vigilant about what you expose yourself to because every single input matters.
So what does this mean to you? How do you do it?
You have to consciously choose what you are going to allow yourself to be exposed to. According to a Nielsen Report, US adults watch 5:04 of TV per day on average (35.5 hours/week, slightly more than 77 days per year). It’s time to cut back. Make a choice as to what you are going to give your attention to. Are you going to focus on the good or the bad? The things you can’t do anything about, or the things you can impact?
The first time I trained for a marathon I did all of my training on a treadmill and my routine was to watch the news while I ran. I knew about everything going on. Politics, the markets, the wars and all the other dark, dirty and fearsome content. But then one day I decided I didn’t need to know all of it and continue to fill my mind with all of the garbage and I quit watching the news. The result?
- Not watching the news didn’t limit my capacity.
- It didn’t end or cause the start of any war.
- I wasn’t uninformed because the things I needed to know came to me in different forms.
- It drove my parents crazy when they said something to me about something in the news and I had no idea what they were talking about.
- It cleared my mind!
A number of years ago I listened to Darren Hardy speak on this topic and the following are his thoughts combined with my own on how to best manage the inputs you let into your life.
Be specific about the things you let in. You don’t have to give it all your attention, just the things that are important to you. Pay attention to the things that impact you and your family and ignore the rest.
Remember, what you give your attention to becomes your reality. Focus your attention on what is good – ideas, knowledge, talents and skills
Low Information Diet
Limit your intake. Filter your news so you’re only getting the things that are important to you. Do not over-consume!
Mind Your E2E Ratio
Your E2E Ratio is a concept from Brian Tracy, which stands for Entertainment to Education Ratio. Recognize how much of your time is focused on Entertainment vs Education. One study stated that 95% of people spend their extra time on entertainment, while 5% (the successful) spent their extra time focused on education.
Feed Your Mind
As you feed your mind with high quality content, your thoughts and ideas become more powerful.
I enjoy good music, but I rarely listen to it. I prefer to spend any time I can listening to books or podcasts online.
For example, last week I wrote the article, Dealing With Negative People. This morning at the gym, with TV’s on every wall broadcasting news stations and ESPN, I had my headphones in listening to, “Talking to Crazy,” a book that someone suggested to me after reading my article.
Separate yourself from the average. Use your extra time to fill your mind with positive and inspirational material.
When we are fully aware of the impact the things we allow as inputs have on our lives we can be more conscious and selective to ensure we are letting only the best things in. Be intentional in all you do and live the life you most desire.
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The thought, ‘I can’t’ is a lie. We use it to excuse ourselves from trying.Darren Hardy
We all have to deal with negative people at some point. How do you deal with it?
You need to be conscious of the impact it has on you. I can recall when I’ve been around the negative energy and attitude of someone and the next thing I know I’m unloading negativity onto someone else.
Just stay away from negative people. Eliminate them from your life. Who cares what they think… Right?
It’s really not quite that easy, so then what?
Some people are chronically negative. They are always complaining. Finding the bad in everything. The Eeyore’s of the world.
With others it may be out of character but something has triggered them to be in a mood.
A while ago I wrote, “The Crowd’s Chanting ‘Airball’… You’re Thinking, ‘NEXT!’” I talked about how you have to deal with negativity by moving on. I used a Tweet from Gary Vaynerchuk as an example where he said “I just don’t give a @$%& about what anybody thinks about me, because they don’t know who the *&^% I am inside.”
But here’s the thing. The context of that article was talking about the impact of your own negative self-talk and the negative feedback from social media. Sometimes the “I don’t care” attitude and brushing them off might be the answer, but not all the time.
When you consciously prepare for something before it happens, you are better able to deal with it when you’re actually in the situation because you can stop yourself from reacting based on emotions.
When you have to deal with negative people, keep these four points in mind:
Decide Your Response and Don’t Allow Yourself to Get Sucked In
You always have the choice to decide your response. In Man’s search for Meaning, Viktor E. Frankl said, “Everything can be taken from a man but one thing: the last of the human freedoms – to choose one’s attitude in any given set of circumstances, to choose one’s own way.”
It doesn’t matter how negative, nasty or degrading someone is to you. You are always the one choosing how you respond. Don’t let your emotions dictate your reaction and suck you into their negativity.
Don’t Let Their Problem Become Your Problem
Often, when someone is spewing their negativity onto you, it really has nothing to do with you at all. But they want someone on their side. They want someone to agree with them or just listen to them on whatever it is they are ranting about.
It’s not your job to justify their negativity, fix their problem or take it upon yourself. Don’t allow yourself to become everyone’s problem solver and become infected with their negativity.
Hold Your Tongue
This one can be a challenge. There will be times that it’s not just a negative person you are dealing with. Sometimes they will be attacking you, someone you love, your thoughts or your goals.
When this happens you need to stand up for yourself, right? Will it really change anything if you do? You might feel like you have to justify your thoughts or actions, but you don’t.
“In life, it’s important to know when to stop arguing with people and simply let them be wrong.”
Don’t Let Them Change Your Path
If someone tells you that your dreams are unrealistic, should you change them? As you read that I’m sure you thought to yourself, “of course not.” But are you sure? Have you ever been excited about something only to share it with someone and you were deflated after you saw their response? Maybe they even laughed at it or told you that you’re crazy.
I’m blessed with the most supportive wife in the world. From day one, I’ve been able to come to her with any of my crazy dreams and she’s automatically by biggest supporter and cheerleader.
Recently we were discussing some of our business ideas and activities and she made a comment that crushed me. For the first time in my life I felt like I didn’t have her support in something that I was excited about. I began questioning myself. What am I thinking? Why did I think I could or should do this? But I was able to gather myself and remember the thought and preparation I had put into the idea before beginning it, and I knew it was the right thing.
Luckily I also soon realized that I misinterpreted her comment and she’s still my number one supporter!
When you know you’re on the right path, don’t let the negativity of someone else change it.
Our attitudes are a choice that we have. Just as someone’s negative attitude or personality can have an impact on others, your positive attitude and excitement can have an impact on others as well.
Everyone is dealing with some kind of challenge. Be the light in their life!
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“…the FASTEST way to getting back on my feet is to find the right customer who will advertise for me (through word-of-mouth referrals).Julie Stoian
When I sit down to write an article, or as I’m planning an upcoming mastermind call, the topics usually come to me because of conversations I’ve had throughout that week.
On our mastermind call yesterday, one of the things we discussed was how to keep focused and work efficiently towards your goals. I received a comment from someone that said they work much more efficiently and are better at getting things done as deadlines approach. This comment reminded me of a post I had written back in April of 2013. Today, I want to share that information again.
The following is portions of my post from April 18, 2013:
Last night, my daughter, Tia, finished practicing piano and was sitting at the table looking very stressed. My wife, Tamara, asked her what was stressing her out. From there the floodgates opened up and out came all of the things she had to get done in the next few days with some tight deadlines: French test, write a paper abut her experience in Africa, create a video to use at the piano recital, prepare her presentation for the Rotary Club, basketball practice, and…
That was when Tamara stepped in. She told Tia to make a list of all the things she needed to get done and the deadline for each one. She also needed to figure out which ones she could have help on and who could help her.
This made me think about Zig Ziglar and his “Day Before Vacation” teachings, which he asks:
- As a general rule, on the day before you go on vacation, do you get two or three times as much work done as you normally get done in a day?
- If you can learn why you are that much more productive on the day before vacation, and then repeat that process on a daily basis without working any longer or harder, does it make sense that you will be more valuable to yourself, your family, your company, and society in general?
- On the night before the day before vacation, do you take a sheet of paper and say to yourself, “Now tomorrow I’ve got to do…,” and then make a list of things you must do?… In it’s simplest form, that’s goal setting and it’s critical. Next, did you organize your must-do list in the order of importance and accept responsibility for completing those tasks?
The day before we leave on a vacation, Tamara and I both have our to-do lists. On that day, both work related and non-work related things get completed efficiently. This all happens because we have deadlines and we need to focus to get those things done.
This is what Tia will experience over the next few days. Her French test, the Rotary presentation, piano recital and all the other things coming up are going to happen if she’s ready or not. So she needs to focus and prioritize to ensure she does well at all of them.
Going back to Zig and his day before vacation example, he says “On the way to work the next day your self-talk was upbeat and centered on what you were going to get done. You arrived at work on time so you were punctual. You immediately started to work, making you a self-starter. You were highly motivated and optimistic that you were going to finish every task you had set for yourself. You were enthusiastic about your work and decisively moved from one task to the next, making good choices as you did so, even if the next job on the list was disagreeable.”
I love this example related to unpleasant tasks. “An ol’ boy down home said it best, “Friend, if you’ve got to swallow a frog, you just don’t want to look at the sucker too long. He aint gonna get no purtier! As a matter of fact, the longer you look, the uglier he gets.” That’s the way unpleasant tasks are.”
“As you move from task to task, if someone tried to interrupt and talk about last night’s television program or last night’s game, you disciplined yourself to stay on task and not be distracted from your job… Since there was no “tomorrow” for you on each job, you persisted until you completed each one… and momentum built with the completion of each task… Perhaps the most exciting part of this vacation scenario is the fact that your co-workers instinctively picked up the pace [as well].”
If this approach works so well on the day before vacation, or the days before a test or a presentation, won’t it work just as well every day?
A big part of this is in your planning. When you plan and track things, the odds of their happening go up substantially. If we plan our months, weeks and days we will be more productive and balanced.
Tia spent the evening writing about her experiences in Africa. She made her list and prioritized it. When Tamara told her to pause and to make a list to prioritize, it relieved a lot of the stress in the situation.
Plan your time efficiently, and act upon your plans so that you don’t spend your time reacting to what is happening to you.
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You’ve probably heard the Jim Rohn quote before, “You are the average of the five people you spend the most time with.”
How true is this statement? If it’s true, what areas of your life does it impact?
It is true, and it impacts every aspect of your life. Your level of wealth, your happiness, aspirations and goals, health and physical condition, relationships and attitudes. I could keep going.
We want our kids to hang out with good friends that will be positive influences on them. In Surround Yourself With Greatness, Chad Lewis says, “It is vital to surround ourselves with good friends as it is for a fish to live in water, especially in our teenage years. It is critically important to our lives, our future, our health, and our safety to be around positive influences, people who don’t tempt us but rather help us make good decisions. A friend who sees the good in us and encourages us to be our best self is worth more than his weight in pure gold.”
It’s no different in our adult lives. It is vital that we surround ourselves with the right people.
“He that walks with wise men shall be wise: but a companion of fools shall be destroyed.”Proverbs 13:20
If the people you spend the most time with have a negative outlook on life, focus on the bad, are always blaming others for their difficulties and are generally just negative, how do you expect to be happy and have a positive approach to life?
Look at the people around you. Are they more successful than you? Are they doing and working towards the things that you want in your life? What direction are they going? Where are they going to be in twenty years? Is it the direction you want to be going? They are either pulling you up, or dragging you down. Which is it?
In Think and Grow Rich, Napoleon Hill said, “Every man is what he is, because of the dominating thoughts which he permits to occupy his mind… We are what we are, because of the vibrations of thought which we pick up and register, through the stimuli of our daily environment.”
The people around you can elevate you as much as they bring you down. I have a business partner that always has huge goals and aspirations and always has an incredibly positive attitude towards life and the future. Sometimes when I’m faced with difficulties and things just aren’t working out, I’ll go meet with him just for the pep talk. I know that just by spending time with him and talking with him I’ll leave with a positive attitude ready and excited to take on the world!
Who do you want to be? What goals do you have?
Are you getting closer to your goals or do you seem to keep running into obstacles that are holding you back?
Now, who are the five people that you currently spend the most time with? Do these people match who you want to be in the future?
Who are the top five people who embody the qualities you desire, or have done the things you are aspiring towards? How can you increase your contact with them?
You want those you spend time with to encourage and support you. You want them to help you achieve your goals. If you’re always the smartest, strongest, richest, whatever-est person in your group, you are in the wrong group. You need someone to motivate and inspire you to get better. To make you think bigger and believe it is possible.
It’s amazing the impact people can have in your life through their example, encouragement and belief in you. Just be honest with yourself as you look around and recognize if your relationships are empowering you and helping you to achieve your dreams.
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Find more marketing tools and strategies at www.JeffHeggieBusiness.com
Fear and confidence is a topic that seems to continue coming up as I speak with clients. It came up a number of times last week at our mastermind event in Arizona, so I talked about it more on my weekly mastermind video call. Since then, I’ve continued to have a number of people bring it up so I want to continue the conversation here.
“One of the best ways to overcome fear of any kind is to habituate yourself to it.”Darren Hardy
What Darren Hardy’s suggesting is that you face your fear head-on and bombard yourself with it until you don’t fear it any longer.
When the average person fears speaking in public more than death, how does the military take young teenage kids and create brave soldiers out of them? How do they take soldiers into SEAL training and make ultimate warriors out of them?
When bullets start flying, what is it that makes these men and women run towards the battle rather than run away?
During bootcamp or SEAL BUD/S training they are put through endless fear, pressure and stress at extreme levels until their fear turns into confidence.
Have you ever heard of Hell Week?
In Extreme Ownership by Jocko Willink, he gives a glimpse of Hell Week:
It was night three into the infamous Hell Week of SEAL training. The students, in camouflage fatigues, were soaked to the bone and covered in gritty sand that chafed them until they were raw and bleeding They shivered from the cold ocean water and cool wind of the Southern California night. The students moved with the aches and pains as only those who have suffered through seventy-two hours straight of nearly nonstop physical exertion can. Exhausted, over the previous three days they had slept for less than one hour total. Since Hell Week had begun, dozens of them had quit. Others had become sick or injured and were pulled from training. When this class had started Basic Underwater Demolition/SEAL Training (known as BUD/S) – the SEAL basic training course – several weeks before, nearly two hundred determined young men had eagerly begun. All dreamed of becoming a U.S. Navy SEAL, prepared for years, and came to BUD/S with every intention of graduating. And yet within the first forty-eight hours of Hell Week, most of those young men had surrendered to the brutal challenge, rung the bell three times – the signal for DOR, or drop on request – and walked away from their dream of becoming a SEAL. They quit.
I’m told that about 80% of those who start BUD/S do not finish. But those who do know that they are the elite. They’ve been through hell and back and survived. There’s nothing they can’t handle.
If you can train your brain to run towards bullets and bombs in battle, think how easy it can be to train yourself to run towards the stage to speak, or to make a prospect call, or to approach a group of strangers that you want to introduce yourself to.
As I reflected on my own life and thought about fears that I’ve had that I was able to turn into confidence, I thought back to my senior year in high school. I seemed to have followed in my older brothers footsteps in a lot of things as I was growing up. When he was in Rexburg ID going to college he started to rodeo. He started as a bareback rider and then took up roping and later steer wrestling. Soon, I was into the rodeo scene as well and was traveling the high school rodeo circuit as a calf roper and team roper. But as I watched him in the steer wrestling (bulldogging), I knew that was something I wanted to do someday.
If you’re not familiar with steer wrestling, I’ll explain what it is. I’ve heard a number of rodeo announcers compare it to getting into the back up a truck, having someone drive it down the road at 30mph and then you jump out of the back onto a passing mailbox. Maybe it’s not quite the same, but it gives you an idea.
In steer wrestling you have a steer in a chute that you let out and give a head start. You also have another cowboy (called the hazer) on a horse that is on the right side of the steer and his job is just to make the steer run straight. The steer wrestler is on his horse on the left side of the steer. After giving the steer a head start the steer wrestler chases the steer down going as fast as the horse can run. As the horse runs past the steer, the steer wrestler jumps off of the horse, grabbing the horns of the steer. He then digs his feet into the ground to slow the steer down and without getting into the techniques, he wrestles the steer to the ground.
At least that is how it’s supposed to happen. I’ve seen steers outrun the cowboys. I’ve seen the cowboys miss and land on their butts at 30mph and all sorts of other wrecks. I’ve seen the cowboy hit the ground as his horse stumbled and then as the horse fell it landed on his head. Well, I didn’t actually see that but that’s what they told me happened once I regained consciousness. But really, the scary part is the fact that you are riding a horse which is running as fast as it can and you jump off of it onto the horns of a steer.
I remember calling my brother and telling him that I’d like him to teach me how to steer wrestle. He said he would love to and the next time they were doing it he would let me know and I could come and watch.
“Well, it’s a little more complicated than that,” I told him. “I actually entered the steer wrestling in a rodeo next weekend. So I need you to teach me before Friday!”
“Do the thing you fear over and over again, until you train your brain that it’s no longer something to be feared.“Darren Hardy
To make a long story short, the next day we were at the practice pen and I was ready to learn. As my brother was talking me through the process he told me something that I was well aware of. He told me that when you first start out, the actual process of jumping off of the horse onto the steer was the scariest part. But he also told me that from all the people he had watch learn to steer wrestle, those that took multiple attempts but never actually jumped struggled the most. Every time they tried but did not jump, it was twice as scary the next time. Some of them ended up riding past the steer multiple times and finally decided they were done and never tried it again.
But he had a solution for this, he told me. He said that if my nerves got to me and I rode by the first steer, it was ok. Nothing to worry about. But that meant that no matter what I had to jump off on my second attempt to prevent the fear from building up. He also told me that it wouldn’t be a problem because they had a way to make sure I jumped.
If I rode past the first steer without jumping, on my second attempt the hazer, riding on the opposite side, would have a rope which would be tied around my waste. If I made the jump, great! But if I didn’t make the jump and was going to ride by, he would pull me off the horse.
With my heart pounding out of my chest and enough adrenaline to stop a freight train, I started chasing down my first steer. As scary as it was, there was no way my brother was going to put a rope around my waste and pull me off of my horse. I jumped my very first steer, plus a number of others that night.
It wasn’t after that one night that I began to feel confident in the process. But the more I did it, the more confident I became. But the fear part never disappeared 100%, but it changed to excitement and energy. Even once I was steer wrestling at the professional level, there were many times I had my heart pounding out of my chest. But every time I jumped, the fear became less and less and my confidence grew.
Oh, and by the way, I won second place at that first rodeo!
“My confidence comes from my vision… I am a big believer that if you have a clear vision of where you want to go, then the rest of it is much easier.“Arnold Schwarzenegger (Tools of Titans by Tim Ferris)
So, if you have a fear of speaking, what should you do? Speak! Wherever you can. Find opportunities to speak and in spite of your fears, do it. If you have fears of calling prospects. Call them. Whatever your fears are, face them and do them so much that you become confident doing them.
“Even when everything is going terrible, andI have no reason to be confident, I just decide to be“Derek Sivers (Tools of Titans by Tim Ferris)
I know that you can have fears that are much different than the fear of speaking or the fear of jumping off of a horse at full speed. The fear of hurting your family financially if you fail would be an example. But that is when finding a coach, a mentor or a mastermind comes in useful. Through these resources you can strategize, plan, role-play, etc. until you know how to proceed with a much lower level of risk and a higher level of confidence.
Overcome the fears that are holding you back from achieving your dreams!
Leave a comment below about something that you once feared but overcame it with action and it’s no longer a fear.
The #1 thing that transformed my life was being a part of masterminds… I’ve literally invested hundreds of thousands of dollars in masterminds and it’s what’s allowed me to achieve a level of success I never though possible… Generating millions of dollars.”Dean Graziosi
If you’re ready to take your life and business to the next level, you must join use for an upcoming Inner Circle Mastermind call!
The Inner Circle Mastermind is a weekly call that has a number of components to it. We have specific topics we train on. As a group we study and discuss books and how the things taught in each book can impact our businesses and lives. As a group we break down challenges or opportunities others are facing and determine the best plan of action to move forward.
You’re The Average Of The Five People You Spend The Most Time WithJim Rohn
If you’re looking for success you need to surround yourself with like-minded, success-focused people. The Inner Circle Mastermind is a group of individuals READY FOR MASSIVE SHIFTS IN THEIR LIVES! They are READY TO STEP IT UP AND BE CHALLENGED, and they are READY TO HOLD YOU ACCOUNTABLE to do the same!
Just finished our mastermind. I now have actionable plans that will move my business forward. Thank you for creating a group of synergistic, like-minded leaders. The ideas and group brain storming put me light years ahead.
Dr. Mark Leonard – High Performance Coach
Great investment of my personal time. Jeff was able to deliver a thought provoking, systematic approach to recognizing and understanding my WHY and how to improve. Application of this in a mastermind group setting offered greater insights and perspectives to my personal and business challenges.
Worthwhile at every level!
Sheldon McLachlan – Entrepreneur
Time well spent! If you’re stuck in your life or business, Jeff will teach and guide you through the skills necessary to break through those barriers and carry you to the next level.
Alan Wood – Sales Executive
I knew this mastermind class would be beneficial but the unexpected a-ha moments were life changing. Thank you for your ability to guide us through this process so seamlessly and for helping us see so much potential in our businesses once again!
Becky Leonard – Entrepreneur
One of the hard parts about being an entrepreneur is the psychological weight of being the key decision-maker. Every decision and metric depends on you.
Figuring out how to organize your time, stay accountable, and make everything happen without losing your mind is a real challenge. I don’t say this lightly: Not having people to talk to and bounce ideas around with can be one of the hardest parts of starting your own business.
For that reason, many entrepreneurs I know turn to mastermind accountability groups to help them stay focused and successful.Sarah Kathleen Pack (Forbes.com)
“When you are at a panic point in life, who you surround yourself with MATTERS.”Stacy Martino
Know Your Math
I was recently working through some marketing strategies with one of my coaching clients and we got onto the topic of pricing. She really wanted to make a push to increase her sales in the short term and wanted to decrease her prices and have a sale as a promotion.
I told her that I didn’t think that it was a good idea. There are better ways in which you can offer your customers more value with different strategies such as bundling. But first I wanted to walk her through the numbers to show her why I didn’t think a sale was her best option.
Unfortunately I haven’t always seen it this way and have made similar mistakes with my own companies in the past. But now that I’ve worked through the numbers and see the math, I definitely focus on other marketing strategies.
I’ll spend some time in other articles to talk about different strategies, but for now I’m going to walk through the steps I showed her that explain why I don’t like the idea of using a sale to add value to your customers.
The real key to success in marketing is to offer more value than your competition. Prospects will pay twice the price if they believe they’re receiving four times more value. Unfortunately, most businesses in a vain attempt to increase their value begin to offer discounts, and that often destroys their margins.
Would you believe me that in some businesses if they discount their price by a mere 10%, they now have to sell 50% more just to break even?
Let’s look at an example:
If you sell a widget for $100, and you have a 30% profit margin, you make $30 for every widget you sell. That means your cost basis for that widget is $70. If you discount that widget by 10% and sell it for $90 instead of $100, your cost basis is still $70. Now you are only making $20 in profit instead of $30.
For this business to make $1,000 in profit selling their widgets at $100 each, they would need to sell 33.3 widgets ($30 X 33.3 widgets = $1,000). But by discounting their price 10%, now they need to sell 50 widgets ($20 X 50 widgets = $1,000). They now have to sell 50% more widgets just to get back to their original profit margin. (33.3 X 1.5 = 50).
But consider this… when was the last time you saw a business offer a measly 10% discount? Most of the time they offer 20% to 40% discounts… and wonder why they are going broke. And to add even more bad news on top of this already bleak scenario, did you know that the latest research shows that discounting doesn’t actually impact a prospect’s buying decision unless that discount is for 40% or more?
So what about increasing prices?
Most small businesses have NEVER raised their prices. That’s because they don’t know the facts when it comes to increasing their pricing. They’re scared to death that ANY price increase, no matter how small, will lead to a mass exodus of all their customers. But is that really true?
Let’s use the same scenario as before. You are selling your widget for $100 and decide to increase that price by 10% to $110. Will that small increase REALLY lead to a loss of customers? Honestly, I believe a few will leave, but they are most likely your biggest price shoppers that show NO loyalty or patronage to your business anyway. They are the ones that beat you down on price every chance they get, and the moment you begin to make a decent profit, they will leave you in a heartbeat for the next business willing to accept a financial beat down. But even though there will be some customer attrition… to what extent? Let’s look at the numbers.
Their business is now making an additional $10 per widget… All of which is pure profit. Right there, that’s a 33% profit increase. For their business to make $1,000 in profit selling the widgets at $100 each, they needed to sell 33.3 widgets. But now, by increasing the price 10%, they only need to sell 25 widgets.
That means just to BREAK EVEN, they would need to LOSE 25% of your customers over a measly 10% price increase… and that simply ISN’T going to happen!
Want to know the closely guarded secret that successful businesses don’t want you to know?
STOP Discounting!!! Instead, innovate your business so you offer more value than your competition and increase your prices.
Of course, if we were working together we would need to perform a thorough price analysis on your business and determine the most lucrative price increase for you, but this is definitely a strategy I strongly recommend to all of my small business clients to help them increase their revenue. There simply is no FASTER or EASIER way to generate additional revenue.
After working through these numbers my client made the decision to increase her prices rather than have a sale and decrease them. So far, along with some other marketing strategies we applied, it is proving to be the exact thing she needed to do for her business.
Once you know and understand these and the other marketing strategies I teach, it’s just a matter of getting it all implemented in a timely and efficient manner to watch your business explode!
You’ve probably heard all the buzz about the One Funnel Away Challenge by now…
(…you know, the crazy, intense challenge where you have 30 days to build and launch your online funnel, while having Russell Brunson, Julie Stoian, and Stephen Larsen as your coaches?)
Word is spreading about how awesome this Challenge is, and thousands of entrepreneurs have been a waiting list for it to open back up, so they can join the next one.
Well, after months of waiting, it’s finally back!
The Challenge officially kicks off September 2, but you can join right now! The registration deadline is September 1 9pm ET!
Crazy part is, for a huge 30 day Challenge with 3 top-notch marketing trainers, it’s just $100 for the WHOLE Challenge! Sooooo, it’s pretty much a no-brainer deal…
If you’re the type of person who wants an online business, but you struggle to get it off the ground…
Or you hate the business you’ve built…
Or you struggle with the actual implementation part…
Then this Challenge FORCES you to bite the bullet and get your first (or next) funnel built.
They go through everything in detail, so even if you’re a newbie and have never built a funnel before, this would be an appropriate Challenge for you to do…
You can check out the details of the Challenge here → http://bit.ly/OneFAChallenge