Tony Robbins Interviews Jay Abraham [How To Get Any Business Going And Growing].pdf

How To Get Any Business Going and Growing—Tony Robbins Interviews Jay Abraham

How To Get Any Business Going and Growing

Tony Robbins, the nation’s busines and personal peak

performance expert interviews Jay Abraham, America’s

leading business growth advisor

Welcome to another edition of Powertalk. I think you're going to especially enjoy this

interview. For a number of reasons. First of all, the person you're going to have a chance to visit with

is a very, very special man. In fact, he's brilliant in an area that I think can really make a difference in

your life -- regardless of how successful you already are. And that is in the area called marketing.

You might say, "Why would I want to know about marketing -- I'm not a salesperson." The answer is

simple. All businesses are about marketing. And in today's society where things are so competitive,

just because someone has a better product very often does not mean that they will have a better

income, or that the person who is the best at a job will keep that job. There is a great deal of

downsizing going on, companies are going out of business very rapidly, and doing the best job does not

guarantee you a sense of certainty about your future. In fact, many people are finding that what they

were trained in for years is disappearing. So, this interview should not only inspire you but also give

you fundamental tools on how you can take control, create a competitive edge and market yourself

and your business more effectively.

We're going to get the chance to visit with a man by the name of Jay

Abraham. Jay is a phenomenal human being -- an amazing man who’s taken part

now in more than 10,000 businesses and more than 10,000 companies are using his

principles to successfully run their businesses. He's earned more than twenty million

dollars just from his consulting fees in the last 20 years alone by adding value to

companies and by coming in with a brand-new perspective about how to get your

message across and how to attract people to your product or service. Look carefully

for those distinctions that will relate to not only where you are today in your life but

also where you will be in the future.

The principles that he shares are also quite fundamental and require us to

think differently. I could tell you all about his accolades, in terms of his write-ups in

the Los Angeles Times and Success Magazine , and his relationship with one of the

founders of Federal Express. But I think what is more important is who this man is

and what he can share with you. So, without any more platitudes let me begin.

Tony Robbins (TR): I understand that you charge $5,000 an hour for consulting and that most of that

is done by telephone. Your seminars are priced between $5,000 and $25,000, depending on how many

people you allow to be there. What makes you worth this kind of money to businesses and

individuals? What exactly is it that you do, sir?

Jay Abraham (JA): I teach almost any kind of business owner or professional how to

harvest the windfall profit sitting in every business that most people don't allow themselves

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How To Get Any Business Going and Growing—Tony Robbins Interviews Jay Abraham

to mine. I teach people how to turn one-shot sales into perpetual streams of income -- and

I think I teach them how to have a lot more fun competing and gaining competitive

advantage over everybody else in their marketplace or industry.

TR: I've heard you say many times that you think virtually every business you've

ever looked at -- and you've looked at more than 10,000 -- has between $10,000 and $1

million of assets sitting on the table that they really aren't seeing. Quite honestly,

when I first read some of your materials, I thought, "This is a lot of hyperbole." But

as I've gotten to know you personally throughout the years, you really have

consistently produced those results. Where is this money and how do we find this

within our businesses?

JA: It has to do with an interesting aspect of leverage that not one in a thousand business

owners, CEOs or accountants ever recognize -- and those are the intangible assets. That

means the advertising, marketing, good will, customer relationships, distribution channels

and expertise that a company possesses -- and ways they could more effectively and

productively use them to their advantage.

TR: Let's talk about what that really means. Peter Drucker says that there are two

questions in business: question one is what business are you in, and question two is

how is business? That's it. I would say there probably is a third question -- with all

due respect to Mr. Drucker -- and that is how do you improve business, which is

really the question you tend to answer. He also said that all businesses are designed

to bring in a customer and that can only be accomplished through marketing and

innovation. Do you agree that those are the only two functions of business and

everything else is an expense?

JA: Absolutely...and those are the core principles we teach at our training programs.

TR: So, let's say you're going to walk into my business tomorrow or into a local

entrepreneurship. What would be the first thing you would do to harvest these

profits that aren't there? Let's make this practical -- maybe give us an example.

JA: I can do an inventory right now -- a self-audit, if you will. The first thing I look at is

what are you doing that you're not getting leverage enough out of.

TR: What does that mean?

JA: It means this. Every business is engaging in certain money-rendering, customer and

prospect generating processes they don't even recognize -- let alone measure and analyze.

Until and unless they recognize what and how they're doing, they can't begin to see how

much better they could be performing. Now, let me stop and talk a little about leverage in

the new context that we're going to talk about. Most people -- particularly people who

have a financial bent -- think of leverage as having two quotients to it: upside potential

and downside risk. That happens when you buy real estate, lease a piece of capital

equipment or buy any other kind of investment with little or nothing down and a future

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payment obligation. I don't want to deal with that. I want to deal with the most wonderful

kind of leverage each and every business person -- and probably almost everybody who is

gainfully employed in any activity to an employer -- has and that's upside leverage.

Parenthetically, it costs you as an employer, business person or professional the same fixed

amount -- no matter what it is you do -- to drive business into your company. If you run

ads, have salespeople, generate referrals in a subtle, understated type approach, do direct

mailings, have outside field people, use manufacturers reps, do trade shows or whatever,

the activity costs you "X" dollars -- and that "X" is a fixed cost and has no correlation to

how the action or the process performs.

TR: In other words, you're going to pay that much no matter how much of a reward

you receive.

JA: Exactly, the same ad that cost you $10,000 in tomorrow's Los Angeles Times can

produce one order or call, 10 orders or 110 orders. The same mailing piece can pull a 3

percent response, a 5 percent response or a 10 percent response. The same salesman or

woman can close 1 out of 25 people called on, 1 out of 15, 1 out of 5, or 1 out of 2.

Correspondingly, that's only the first layer of this wonderful upside leverage everyone and

every business has that few people recognize. Our seminars teach people how to use this

leverage to grow their business.

TR: So, you're saying that in most investments, I'm going to invest my money and I

have a potential return but also a potential loss.

JA: Most of the time that loss is very eminent and very frequently occurs.

TR: Okay, so in other words, there's a great chance that I'm going to lose my money

in the investment, or get a very small return that I'm going to put into a savings

account, money market or something similar. But if I want a large return -- a decent

return -- I'm going to be aggressive and have a greater chance of losing my money or

a portion of my capital. You're saying in a business, because of the power of

marketing, there are ways of leveraging my money where I'll get a 20 or 30 or 40

times return for my money with virtually no downside at all...

JA: Or 200 or 400 or 2,000 percent. That's one of the major benefits of owning a business

and of learning how to expand profits exponentially.

TR: Which I'm really not going to find in a passive investment, per se.

JA: Well particularly with zero downside.

TR: Now, how do you get zero downside? I know you talk about this. You often say

-- listen, if you want to really develop wealth, the way to do it is through your own

business as opposed to passive investment because the upside is so much greater and

there is almost no downside. And yet the reality that we read every day in the

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newspaper tells us that two out of three businesses that start today won't be around in

five years.

JA: And that's exactly right because they haven't learned any of these dynamics that I

teach.

TR: Okay, how do we achieve this leverage and at the same time produce the level of

security you're talking about?

JA: Well, first it comes from analyzing, measuring, identifying -- and then replacing --

certain underperforming aspects of your selling, marketing, advertising, or operations with

alternatives that perform better.

TR: And that's what you're an expert, really, at doing

JA: I would say so.

TR: Give me an example of where you've done that so we get some kind of reference.

Give us an example where a portion of a business was underperforming or the

market wasn't performing and where you came in and produced fantastic results.

JA: I'll give you two or three. First of all. I want to give you a reference frame. You've got

to think about what could be underperforming. The sales people could be

underperforming, their presentation could not be closing, the markets they could be going

after could be incorrect -- there's all kinds of potential problems. You could be having your

sales people working their hearts out but calling on the wrong quality prospect. You could

have them working their hearts out calling on the right prospects but making the wrong

proposition. You could have them working their hearts out calling on the right prospects,

making the right proposition, but not having the right risk reversal policy to induce people

to buy their product and to make it easier to reduce the barrier of entry.

You could have an ad running or a letter going out, and because it has the wrong beginning,

it could underperform it's capacity by as much as 20 or 30 times. Here, I'll give you a

couple of examples. Years ago I worked with a brokerage firm that was selling precious

metals. They ran ads in the Wall Street Journal and happened to have a relationship with a

bank that was bank-financed. They ran ads for bank-financed purchases of silver and gold.

Their headline said "Two-Thirds Bank Financing on Silver and Gold." When they ran the

ads, they pulled okay. They brought back a profit -- the sales people made commissions

adequate enough to stay, the owners made salaries, the overhead was paid and they had

money left over to keep running the ads. They were happy. But they hadn't questioned

how "high is high."

TR: In other words, what is the real ultimate leverage if these ads could pull more...if

we could improve them! So, they began to accept it because it was profitable, as

opposed to raising the standard and saying I want a 20 or 30 times return. That's

what you helped them do. Now, exactly how did you do that?

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JA: Well, I immediately asked them if they ever tested headlines, just as I ask the seminar

attendees to analyze their advertising. By the way, most people try to redo ads -- that's the

most inefficient thing in the world. If an ad basically pulls, the first thing you change is the

opening statement. In a fixed print ad, it's the headline. In a direct mailing, it could be the

headline or the opening phrase. In a direct selling situation, it's the first paragraph you as a

sales person utter. Same thing if a sales person walks into a retail store, it's the first group

of words the person who meets them utters and everything in between. And the trick is

two-fold. The goal is to make the first statement a statement of the powerful, self-serving

result the prospective customer is going to receive from availing themselves of your

product or service.

TR: There is something else I've heard you talk about many times. It's that most

businesses think people are buying a product and you disagree with that.

JA: Right, they are all buying a result, a benefit -- an outcome that is very self-serving to

the end user. People could care less why you're in business, that you need to make payroll,

or whatever. The only reason they deal with you (or they let you deal with them) is that to

some extent they see an advantage in it for themselves. The clearer and more powerful you

are at expressing, articulating, demonstrating, illustrating and comparing how you render

that advantage better than anyone else you deal with -- the more business you will get.

During our seminars we conduct ad clinics to teach business owners exactly how to make

their marketing customer-oriented.

TR: But, in truth, the secret is being able to do that as quickly as possible, especially

in today's society where people pay so little attention to something. They want their

needs met, and they want them met now.

JA: That's the purpose of having a powerful opening premise, headline, or a prefacing

statement. So, back to my story. This company had never tested headlines. They were

doing great -- or so they thought. I said, "Let's try three other permutations of our offer."

We tested them. Three small headline changes. One did a little bit better -- about ten

percent. One did about the same -- the improvement was negligible. And one improved

the yield of the ad they were running by 5 times -- or 500 percent. This was back when

gold was not selling very high -- it was about $300 for gold and about $6 for silver.

Remember they were saying "Two-Thirds Bank Financing on Silver and Gold." Keep in

mind, my question is always what does that mean to me as the customer. It meant nothing

-- so I changed the headline. All I said was, "If Gold Is Selling for $300 an Ounce, Send

Us Just $100 an Ounce and We'll Buy You All the Gold You Want." And I had one for

silver, "If Silver is Selling for $6 an Ounce, Send Us Just $2 an Ounce and We'll Send You

All the Silver You Want."

It was the same statement but more powerfully denominated in the context of what's in it

for the ultimate consumer. That one simple change, of all about 12 words, made in the

same amount of space they were buying and using the same amount of body copy, which

was 90 percent of the ad, increased their pull by 500 percent. I was getting a profit share,

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