Two types of “expert businesses”
- selling information products
- Webinars, courses, books, etc.
- leveraging information products as fuel
- Show customers WHY a they need your product/service
- They will look at you as an expert and pay more for your product/service
3 characteristics of a mass movement
- Charismatic leader
- Future-based cause bigger than themselves
- Offered a new opportunity
There are really only three main types of markets
- Real estate
- Strength training
- Weight loss
- Marriage advice
- Dating advice
The riches are in the niches
Examples of niches:
Health -> nutrition -> high-fat diets
Health -> weight loss -> weight loss for college students
Wealth -> online business -> Facebook traffic for e-commerce
Wealth -> real estate -> flipping houses on eBay
Try to find a niche that will compliment other businesses in the sub market, rather than competing with your competitors
- pull people out of the sub market into your niche
Ways to Persuade People
- Encourage their dreams
- Justify their failures
- Confirm their suspicions
- Allay their fears
- Throw rocks at their enemies
“They don’t care how much you know until they know how much you care.”
Allow your followers to self-identify
- make a cool tag line and appeal to them
- Something that they resonate with
- Ex: “I’m a funnel hacker;” “I’m a Lady Boss;” “Ignite: Energy For Those Who See Things Differently.”
Defining Your Brand
- Identify the charismatic leader and state who you are
- Identify the movement
- US vs. THEM
- Take a stand
- Why are you different?
- Who or what are you collectively fighting against?
- Who you ARE!
Ex: what it looks like what it’s complete and put together:
- My name is Russell Brunson
- I’m part of a group of underground entrepreneurs you’ve probably never heard of.
- We don’t rely on cash from venture capitalists to get started, and we don’t even have goals to go public either. In fact, our motivation is the exact opposite. We have products and services in things that we KNOW can change peoples lives.
- Because we are fighting against the big brands, people with literally unlimited budgets, we have to do things differently. We have to do things smarter. We don’t have financial safety nets. Every test we take is with our own money. We have to be profitable from day number one. So how do we do that? How is that even possible?
- If you asked the MBAs or look in the college textbooks, they’d tell you that what we are doing is impossible. Yet it’s happening. Every single day. It’s happening through the arts and science that we call Funnel Hacking.
- We are Funnel Hackers, and these are our stories!
Create a who/what statement
- I’m going to teach [sub market] how to [your niche].
- Ex: I’m going to teach people who are trying to lose weight how to stop dieting and start drinking ketones for energy and weight loss.
- Ex: I am going to teach real estate investors how to make money flipping houses on eBay.
Create an “opportunity switch” headline
- How to [result they desire most] without [thing they fear most].
5 Curiosity Hooks
- Little known, big difference- show people something they’re not aware of and how learning it could make all the difference between success and failure
- Well known, little understood- show your audience something everyone THINKS they know about, but are actually missing crucial details
- Read More
You must seek wealth
- make it a goal to become wealthy
2 kinds of learning
- things we learn and know
- training that taught us how to find out what we did not know
A part of all that you earn should be yours to keep
- no less than 10%
- then make this money earn money
Turn things into habits and they no longer become difficult to do
If you set a task, see it through
7 Cures to a Lean Purse
1) Start thy purse to fattening
– Put away at least 10% of everything you earn
2) Control thy expenditures
– Examine what you are spending money on and determine if you can actually go without them
– It’s still ok to pay for some enjoyment and worthwhile desires, so long as you stay at that set percent of savings
3) Make thy gold multiply…
All of my mentors throughout my life have shared something with me. Some have shared the same values, some, similar manners, and still others have shared the same drive that I have. Overall, I look for four main things in mentors. The first is that they have to be years ahead of where I am. Their current situation has to look similar to the future that I aspire to have. Maybe not my end goal, but at least a decade or two down the road. Second, my mentor has to be much more knowledgeable than I am in the area that they are helping me with. This may sound like a given, which it is, however, I don’t just mean the mentor needs to have taken a couple more classes or have read some more books on the topic. I mean that my mentor must have lived out the practice for many years and have ample experience to back up his wisdom. I want a mentor who has faced difficulties and situations head-on, so that if I ever come across the same situation, she can tell me exactly how she overcame the hurdle. Next, my mentor needs to be somewhat similar to myself in regards to personality. This is more of a bonus requirement and not completely necessary. However, I have simply found that the more comfortable you are around your mentor and the more they understand how you think and work, the easier it is for you to both help each other, which ties into my fourth requirement. The last thing that I look for in a mentor is that I have to be able to help them out as well. I am very aware that everyone is busy and that time is the most valuable resource that we have, so, with a mentorship, I need to be of some value to my mentor too…
Continue reading here
Success comes to those who become success conscious
Have the mentality of “I will accomplish this even if it takes the remainder of my life!”
Before anything else, you must have the DESIRE to be successful
Then, you must have FAITH and believe that you are going to be successful.
Repeat your goals (out loud) to yourself daily (known as autosuggestion)
⁃“You become what you think about.”
Knowledge must be directed through practical plans of action in order to achieve an end result
- simply having knowledge is only the foundation
“Any person is educated who knows where to get knowledge when it is needed and how to organize that knowledge into definite plans of action.” (pg. 77)
Henry Ford had a master mind group
“Riches, when they come in with huge quantities, are never the result of hard work! Riches come, if they come at all, in response to definite demands, based upon the application of definite principles, and not by chance or luck.” (pg. 101)
How To Look Like A Somebody:
- The Flooding Smile: Smile slower (after taking in someone’s presence)
- Sticky Eyes: Long, deep eye contact (don’t look away!)
- Epoxy Eyes: look at and maintain eye contact with the person you are interested in, even if they aren’t the one who is talking
- Hang By Your Teeth: great posture is necessary; chest out, head high, shoulders back, smile
- The Big-Baby Pivot: when meeting someone, give a big smile, full-body turn, and undivided attention
- Hello Old Friend: when meeting someone, imagine he or she is an old friend
- Creates happiness and high-energy instantly
- Limit the Fidget: stand still when talking to someone
- Hans’ Horse Sense: pick up on subtle body-language when talking to someone
- Watch The Scene Before You Make The Scene
How To Know What To Say After You Say “Hi”:
- Make A Mood Match: if someone is energetic and upbeat, make sure that your first one or two sentences are also lively and happy (and vice versa)
- Prosaic With Passion: your first words spoken to someone new are virtually meaningless
- Always Wear A Whatzit
- Whoozat: ask the host of the event who the person you want to talk to is, then either:
- Eavesdrop In: “Excuse me, I couldn’t help but overhear…”
- Never The Naked City: NEVER answer the question “Where are you from?” with just a city and state
- Never The Naked Job: NEVER answer the question “What do you do?” with just a job title
- Never The Naked Introduction: when introducing two people to each other, tell a fun fact about both of them
- Be A Word Detective: listen to your partner’s words for clues to her preferred topics
- The Swiveling Spotlight: talk and ask about the other person way more than yourself
- Parroting: If you don’t know what to say next, simply repeat the last two or three words your companion said in a sympathetic, questioning tone
- Encore!: ask someone to recount a story to a new group of people; “tell them about the time you…”
- Ac-cen-tu-ate The Pos-I-Tive: don’t reveal any skeletons with somebody when you first meet them
- The Latest News…Don’t Leave Home Without It: Be sure you know current events; they come in handy when you don’t know what to say
How To Talk Like A VIP:
Hotmail became popular by putting “P.S. Get your free email at Hotmail” at the end of every email
Gmail became popular by making the email invite-only for awhile (created hype and novelty)
Books have a higher chance of becoming successful if the writer uses ideas from blog posts that he wrote that generated a lot of interest and engagement
It’s not who gets to the market first, it’s who gets to product market fit first
- there were other businesses before Uber, Airbnb, etc.
Getting in front of your first users:
- Uber gave out thousands of free rides during the SXSW conference when the company was first beginning to get in front of potential customers
- Create blog posts about your business/product
- website that connects you with reporters who are looking for stories
- use kickstarter.com
- Apple used white headphones when everyone else’s are black
- They also give free stickers in all new devices (which end up on cars, walls, and even on PCs!)
- Any other crazy, whacky idea
Build, Measure, Learn
“The old management methods are not up to the task. Planning and forecasting are only accurate when based on a long, stable operating history and a relatively static environment. Startups have neither.” (pg. 9)
Two steps to test for experimenting
- Value hypothesis
- Growth hypothesis
Create an MVP (Minimum Viable Product)
- Sell it to early adopters
- Iterate or pivot
- Make $$$
4 Questions to Ask before making a product
- Do consumers recognize that they have the problem we are trying to solve?
- If there was a solution, would they buy it?
- Would they buy it from us?
- Can we build a solution for that problem?
An MVP should only include features that you need to start learning about whether or not your customers like the idea of your product/service
- Dropbox’s MVP was literally just a video of how the service would work if they created it
- Tons of people watched the video and signed up for their beta (that wasn’t even created yet)