0:02 Acquisition.com Publishing is proud to
0:04 present Acquisition.com Volume 3, $100
0:07 million Money Models: How to Make Money,
0:09 written and performed by Alex Herozi.
0:11 Dedication: What people have said about
0:14 Alex Herozi. Alex is my husband, Leila
0:17 Horosi. I have known many people. Alex
0:19 is one of them. People who know Alex.
0:21 Alex has said things people have heard.
0:24 Friends, Alex is better at some things
0:27 than others. Alex's favorite teacher.
0:28 Alex wrote a book. I have read many
0:31 books. Magazine critic.
0:34 Guiding principles. Risk comes from not
0:36 knowing what you're doing. Warren
0:38 Buffett. More important than the will to
0:42 win is the will to prepare. Charlie Mer.
0:45 A quick word. Ila. I wrote this
0:47 dedication 6 years ago. I want to thank
0:49 my partner, my ride or die, Ila. You
0:51 found me at my absolute worst, and you
0:52 have fought beside me
0:55 shoulderto-shoulder ever since. You said
0:56 you would sleep with me under a bridge
0:57 if it came to that. And I have not
0:59 forgotten. You stood tall when
1:01 everything was crumbling around me. I
1:03 would go to war with you. I would die
1:05 for you. If the world were a hurricane,
1:06 standing with you is like being in the
1:08 eye. Calmly observing the storm raging
1:11 around us. There's no one else I'd want
1:12 by my side to fight the battles that
1:15 come. Being with you makes the stars
1:17 look within reach. Here's to a life
1:19 filled with the impossible. And six
1:22 years later, nothing's changed.
1:25 Trevor, as iron sharpens iron, so one
1:30 person sharpens another. Proverbs 27:17.
1:31 It's a rare and wonderful thing to have
1:33 the smartest man you've met call you a
1:35 friend. If ignorance is the only true
1:38 evil and knowledge, the only true good,
1:40 you, my brother, are a force of good.
1:42 The world is better with you in it. And
1:45 I will fight to keep it that way. My
1:46 life wouldn't be the same without you. I
1:48 wouldn't be the same without you. I
1:50 doubt I will ever be able to repay the
1:51 favor that you have given me by being in
1:54 my life, but I'll live trying. Thank you
1:56 for giving me a gift far more than a
1:57 paragraph at the beginning of a book can
2:00 ever repay. We will put our brick in the
2:02 wall. Here's to a once in a generation
2:05 friendship. Filia.
2:07 Start here. The world breaks everyone
2:09 and afterward many are strong at the
2:12 broken places. Ernest Hemingway. The
2:13 first picture you see inside my book is
2:15 a picture of me standing in front of my
2:17 gym and a picture of where I used to
2:19 sleep on the gym floor. I stared at the
2:21 ceiling in the dark alone. I had no one
2:23 to go to. It sounds cool when you tell
2:25 the story later, but it didn't feel that
2:27 way. I was terrified. I went against my
2:29 father's wishes. I skipped out on
2:31 business school. I spent all my savings.
2:33 Everyone I cared about told me not to do
2:35 it. I was the idiot that gave up on a
2:36 good career. I thought I would look
2:39 forward to the struggle, but it got real
2:41 fast. Kids partied all night in the
2:43 parking garage above me. They'd race
2:45 over the steel dividers. It sounded like
2:48 gunshots echoing in my concrete bedroom.
2:50 And as soon as I started to pass out,
2:51 I'd get jolted awake by another bang,
2:54 bang, bang, bang. I finally gave up
2:55 trying to sleep at night. I settled for
2:58 midday naps in the utility closet. Then
3:00 in the dead of night, I worked. I had to
3:02 make money. My gym sat across the street
3:04 from a large storage unit business. The
3:06 owner became one of my few members, only
3:08 out of convenience. A few weeks after he
3:10 joined, he pulled me aside after his
3:12 workout. I've been doing a little math,
3:14 he said. It looks like you're
3:15 struggling. I tried to hide my
3:18 embarrassment, but I failed. "All right,
3:20 kid. Let's grab breakfast tomorrow." I
3:21 hesitated thinking about my bank
3:23 account. Before I could answer, he said,
3:26 "Don't worry. My treat relief." The next
3:28 morning, we met at the local diner
3:30 around 5:00 a.m. As the waitress brought
3:32 our coffee, he asked, "How much time you
3:34 got left to live?" Huh? How much cash
3:37 you got saved up? About five grand.
3:39 How much time does that give you before
3:42 you run out? I thought about it for a
3:45 moment. About a month. Tough. How you
3:48 getting customers? I have a $39 six week
3:50 special on a discount site. How many
3:54 customers have you gotten? Four.
3:55 Looks like you've got a problem that you
3:58 need to solve fast. He let the statement
4:01 sink in. Then I saw a grin spread across
4:03 his face. Let me ask you a question. How
4:06 much does a free month of storage cost?
4:10 I shrugged. "Uh, nothing." He took note
4:11 of my confusion and said, "All right,
4:13 let's go for a ride. I'll explain it at
4:16 my facility." As soon as we walked in,
4:17 the girl at the front desk greeted us.
4:19 "Good morning, gentlemen." "Good
4:21 morning, Judy. How much does a free
4:23 month of storage cost?" he asked. "1127,
4:27 sir," she replied cheerfully. He smiled
4:29 and he turned to me. "Want to know how?"
4:32 I nodded. He took me through the office
4:33 and down one of the rows of freshly
4:35 painted units. So, we advertised the
4:38 first month is free, and it is. But
4:39 what's the first thing you need after
4:42 you get a storage unit? I don't know, I
4:45 shrugged. Exactly. Nobody really does,
4:47 but I do, and I help him out. So, let me
4:49 give you a hint. He pointed towards the
4:53 lock on the door. Right. A lock. Yeah.
4:54 And not one of those flimsy locks that
4:56 kids use on their lockers. Those won't
4:58 fit here anyways. Besides, any goon with
5:00 bolt cutters can get through those in a
5:02 second. But not one of these bad boys.
5:03 He tapped the lock to emphasize his point.
5:05 point.
5:07 Yesesh, it looks like it. Where do you
5:09 even get one of those? I asked. Funny
5:12 you should ask. I've got a whole storage
5:14 unit full of these. Yours today for just
5:18 47 bucks. Okay. Okay, I get it. They
5:19 come in for the free month, but what
5:21 good is the storage unit unless you can
5:24 lock it? Exactly, he said. I get it. So,
5:26 where does the other 80 bucks come from?
5:28 Great memory. So, what else are you
5:30 going to want? I shrugged. Well, if you
5:32 have stuff to store, you're going to
5:34 need boxes to store it in. But never
5:36 fear, we've got boxes with tons of
5:37 different shapes and sizes to fit all
5:40 your storage needs. We also offer tape,
5:42 labels, and heavy duty markers to make
5:43 sure you know exactly what's in every
5:45 box and where you put it. Super handy.
5:48 Oh, duh. That makes perfect sense, I
5:50 said. What else are you going to need?
5:53 He asked. I don't know. Uh, help moving
5:56 it. Yes. Now, we don't actually offer
5:58 in-house moving services, but we have an
6:00 affiliate relationship with a local
6:02 moving business and make a kickback. And
6:03 if you want to move all your stuff
6:04 yourself, that's fine, too. We have
6:06 dollies, hand trucks, straps, and other
6:09 useful tools available for a fee. After
6:11 all, why buy a bunch of stuff you only
6:13 use once? What a waste. Oh, yeah. I
6:16 didn't think of that, I said. What else
6:18 are you going to want? He asked. Uh, I
6:21 really don't know. Well, what you store
6:24 is valuable, right? at least valuable to
6:25 you in some way. I mean, if it wasn't,
6:27 you'd send it all to the dump. So,
6:28 you're going to want some insurance in
6:30 case something bad happens. Now, I
6:32 already give $500 of free insurance to
6:33 all customers. But if you have one of
6:35 the special locks only I offer, I'll
6:38 bump it to $100,000 for only an extra
6:42 $10 a month. He puffed with pride. Dang.
6:45 And all that adds up to 127 bucks. Yep.
6:46 But we're not done yet. You know what
6:49 always seems to happen? Onto his game
6:51 now. I played along. Beats me. What
6:54 happens? Everyone has way more stuff
6:56 than they think and they always rent too
6:58 small of a unit. In fact, it happens so
7:01 often we always offer one size up. They
7:02 get the space they need and we make a
7:04 few extra bucks. It works out for
7:06 everyone. Wow, this is pretty cool. I
7:08 didn't know any of this stuff. Of course
7:10 not, he said. Why would you? Fair
7:12 enough. But how do I use this to grow my
7:14 gym? I asked. Yeah, I've been playing
7:16 this game as long as you've been alive.
7:17 And when you figure out how to make
7:19 money in one business, I mean, really
7:20 figure it out, you see ways to make
7:22 money in any business. And one thing's
7:24 for sure, the longer you play, the more
7:26 you learn. Wow. So, you've had this
7:30 place for 23 years. This place? No. This
7:31 is just one of my newer locations. You
7:35 have more than one? I asked. I have 27.
7:40 Oh, crap. I felt 2 in tall. Anyways, I
7:41 got to get to work. You know your way
7:43 out? He pointed to the door. Yeah. I
7:45 chuckled. I think I can make it across
7:47 the street.
7:50 Two and a half years later, I now had
7:52 six gyms. I had leveled up. I wanted to
7:55 level up again. So, I paid $25,000 for
7:57 an hour of time with a famous marketer.
7:58 I had never spoken to him, but I knew
8:00 his stuff like the back of my hand. I
8:02 had one goal for this call, for him to
8:04 help me scale my gyms. After brief
8:08 introductions, we dove in. So, yeah. And
8:09 that's how I open my gyms at full
8:11 capacity on day one. I put $3,000 down
8:13 for a lease and then run a few days
8:15 worth of ads. I sell customers in the
8:17 empty building. Then the cash from those
8:18 signups goes towards more ads,
8:20 equipment, paint, flooring, furniture,
8:22 signage, and whatever else the location
8:24 needs. Doing it this way, I've opened up
8:25 a new location every 6 months with no
8:28 debt. Wow, so cool. Explain to me in a
8:30 bit more detail, would you? His business
8:32 was making millions of bucks a month.
8:34 Those numbers blew my mind. And he wants
8:37 to hear how I advertise. I beamed with
8:39 pride. I advertise a free six week
8:40 challenge until I get about 20 leads a
8:44 day. Got it. Keep going. He said about
8:45 half the leads show up for appointments.
8:47 I sell half of those who show into a
8:49 $600 program. So about 25% of my leads
8:51 become paying customers. I also get
8:53 about another 80 bucks in profit per
8:54 customer from supplement sales. Not too
8:57 shabby. Agreed? He grunted. So you make
8:59 like 680 bucks per customer before you
9:01 even open your doors. Pretty dang good.
9:02 But you left something out. What did I
9:05 leave out? How much you paying per lead?
9:07 Oh, five bucks.
9:09 If a deafening silence ever happened in
9:11 my life, this was it. He stuttered a
9:15 bit. So, you put $1 in and get $34 out
9:18 in 48 hours? Yeah. Is that good? I
9:22 asked. It's amazing. He said, "Do you
9:23 have anything happening on the back
9:26 end?" I grinned ear to ear. "Yeah, a few
9:27 weeks later, I'd tell them that they can
9:29 get their $600 back as credit if they
9:30 choose to sign up for a year. Twothirds
9:32 of signups convert into memberships. So,
9:34 I end up with a full gym and $20,000 a
9:36 month of recurring memberships for
9:39 $3,000 down. Then I rinse and repeat.
9:41 Wait a second. You do all this in 30
9:43 days? Yeah, pretty cool, right? He
9:45 rubbed his eyes. You shouldn't be
9:47 running gyms. Oh, God. I thought he was
9:49 going to compliment me, but he told me I
9:52 should quit. My mind raced. Alex, he
9:54 said, snapping me back into reality. You
9:55 have a level 10 skill set and a level
9:58 two opportunity. Okay, well, what should
10:00 I do? I asked. You shouldn't be running
10:02 gyms. you should be showing other gym
10:03 owners how to do what you just showed
10:06 me. I hated the idea of giving up on
10:08 what took years to build, but he made a
10:10 lot more money than I did. I figured if
10:12 I ignored his advice, I may as well burn
10:14 my money. So, I took his advice. Over
10:16 the next 9 months, I closed down my
10:19 newest gym and sold my other five. That
10:21 gave me all the time to go all in on my
10:22 new company, Gym Launch. Over the next
10:24 two years, I flew around the country
10:26 turning gyms around. Then, after 30 plus
10:28 turnarounds, I switched to a licensing
10:30 model. I no longer flew out in person.
10:32 Instead, I helped them follow our proven
10:34 model to fill their gyms and increase
10:36 profits. A small market to be sure, but
10:39 they were starving. Some literally, but
10:40 once they filled their gym in 30 days,
10:42 they told their friends. Gym Launch took
10:45 off like a rocket. It was wild. Over the
10:47 next 5 years, I took over $43 million in
10:50 owner distributions. Then I sold 66% of
10:52 the company at 46.2 million in an
10:55 allcash deal. With that deal, I crossed
10:57 $100 million in net worth at age 31. And
10:59 to be clear, no one was more surprised
11:02 than me. From there, my wife and I
11:03 founded our family office,
11:05 Acquisition.com, to invest in businesses
11:07 we know how to grow. Our portfolio, at
11:08 the time of this writing, does over $200
11:10 million per year in annual revenue. It
11:13 spans brick and mortar chains, software,
11:15 services, and e-commerce. And even
11:16 though we worked in many different
11:19 niches, our companies have all grown
11:20 using the same principles I share in
11:23 this book. So, what's in it for you? In
11:25 a few pages, I took you from sleeping on
11:27 the floor to crossing $100 million in
11:29 net worth. So, the natural question is
11:32 how? Answer: by making more money from
11:33 customers than it costs to get them. And
11:35 that's what this book, 100 million Money
11:37 Models, is all about. Since I've been in
11:39 business, the landscape has changed more
11:41 than once, and it'll keep changing. The
11:42 good news is sound principles help you
11:44 print money no matter what. I've learned
11:46 a lot of money models. I cover my
11:48 favorites here. $100 million Money
11:50 Models shows already proven offers that
11:52 you can use today and the instructions
11:54 to make them happen. Think of $100
11:56 million Money Models as a book of
11:58 winning lottery tickets. All you have to
12:00 do is cash them in. Also, I want to make
12:02 something clear. These are my private
12:04 notes. If it's here, I've made money
12:06 with it. These chapters contain my
12:07 observations and experiences with
12:08 different businesses from local chains
12:10 to physical products to services to
12:12 education to software and so on. And
12:13 they were scattered everywhere over the
12:16 years until now. This is my cookbook for
12:18 making money. How this book is
12:20 structured. This book teaches you one
12:22 insanely profitable thing. How to build
12:25 a $100 million money model. With a $100
12:26 million money model, you make so much
12:28 money in the first 30 days that the cost
12:29 of getting more customers will never be
12:32 a problem again. With so many customers,
12:33 you'll be forced to work on everything
12:35 else in your business just to keep up. A
12:37 problem for another book to solve. Winky
12:40 face. Here's the book outline.
12:42 Start here and problem this book solves.
12:44 You just finished it. Section one,
12:46 what's a money model? Coming up next.
12:48 Section two, attraction offers. Section
12:50 three, upsell offers. Section four,
12:52 downell offers. Section five, continuity
12:54 offers. Section six, make your money
12:58 model. That's it. Easy peasy. Pro tip.
13:00 Faster, deeper learning by reading and
13:02 listening at the same time. Here's a
13:04 life hack I stumbled on years ago. If
13:05 you listen to an audio book and read the
13:07 physical book or ebook at the same time,
13:09 you read faster and remember more. You
13:11 store the content in more places in your
13:13 brain. Nifty stuff. This is how I read
13:15 books worth reading. I also do both
13:17 because I struggle to stay focused. If I
13:19 listen to the audio while reading it, it
13:21 helps me avoid zoning out. It took me
13:23 two days to record this book out loud. I
13:24 did it. So, if you struggle like me, you
13:26 don't have to anymore. If you want to
13:28 give it a try, go ahead and grab the
13:30 audio version and see for yourself. I've
13:32 made my books as cheap as the platforms
13:33 let me, so this isn't a ploy to make
13:35 some extra coin. I promise. I hope
13:37 you'll find it as valuable as I have. I
13:40 figured I'd put this hack early on. This
13:41 way, you'd have a chance to do it if you
13:43 found the first chapter valuable enough
13:46 to earn your attention. Pro tip: hack
13:48 for finishing books. I get distracted
13:49 easily, so I need little tricks to keep
13:52 my attention. This one helps me a lot.
13:54 Finish chapters. Don't stop in the
13:55 middle. Completing a chapter gives you
13:57 positive reinforcement. It keeps you
13:59 going. So, if you meet a tough chapter,
14:00 finish it so you can start fresh on the
14:03 next one. Section one, what's a money model?
14:04 model?
14:06 Hermosi has the highest return on
14:07 advertising of any business using our
14:09 advertising tracking platform by a mile.
14:11 He has the biggest discrepancy between
14:13 dollars spent and dollars earned and we
14:14 only work with businesses spending at
14:17 least 250,000 per year on marketing or
14:18 more. So these are the cream of the crop
14:20 marketers and his numbers are in the
14:22 stratosphere by comparison. Alex Becker
14:26 CEO Hyros December 2019. Hello sir, can
14:28 I have your ID so I can look up your
14:30 reservation? The car rental agent said
14:33 smiling. I already had my ID in hand
14:36 ready, so I slid it across the counter.
14:38 H, it looks like we don't have your car
14:40 reserved. We have an equivalent car,
14:42 though, and you're a big guy. Would you
14:44 prefer a roomier pickup instead,
14:46 blinking a few times?
14:50 Yeah, that sounds nice, I said.
14:52 I've got you down here for 3 days. She
14:54 cocked her head to the side a bit. Would
14:57 you like to have a late return so you
14:58 can turn in the vehicle at any time
14:59 during the day without worrying about
15:01 late fees? I pulled up my schedule on my
15:03 phone. Yeah, we have an evening flight,
15:06 so that sounds good. Great. Give me a
15:08 second. Just putting that in. So, would
15:10 you like better insurance to cover any
15:11 bumps and scratches on the car? It
15:13 covers any and all damage to the vehicle
15:15 during your time. Nope, I'm good. No
15:17 plans on drag racing while I'm here? I
15:20 joked. So, only the minimum insurance
15:22 then? Yeah, that's all I need. Okay,
15:25 then. I'll have your keys in a second.
15:26 Did you want us to take care of fuel so
15:27 you don't have to worry about filling it
15:29 up? You can return it on empty and not
15:31 worrying about paying a fee. We do it
15:34 for $3.75 a gallon. What's gas cost
15:36 around here? I asked. About 350 a
15:38 gallon, she replied cheerfully. Sure,
15:40 why not? I hate filling it up when I'm
15:42 rushing to catch a flight. All righty
15:43 then. Here's your receipt. Just go
15:44 around the corner and your truck should
15:45 be halfway down to the left. Enjoy your trip.
15:47 trip.
15:49 As I walked, I glanced at the receipt.
15:51 It stopped me in my tracks. I could only
15:54 laugh at myself. I came for a $19 a day
15:57 car and I left paying $100 a day. a 5x
15:59 difference. And that's the power of a
16:01 well-designed money model. They knew
16:03 everything I wanted before I asked. And
16:05 when they asked to solve problems I
16:06 didn't even know I would have, I
16:09 accepted. A money model happened. A
16:11 money model is a sequence of offers. At
16:13 their core, we find every opportunity to
16:14 solve a customer's problems and then
16:16 offer to solve it. For that reason,
16:18 money models tend to have many offers in
16:20 a specific order. If you offer the right
16:21 thing when customers realize they need
16:23 it, you can make as many offers as you
16:25 like. This is the rental car company's
16:27 money model stated plainly. Offer one,
16:30 vehicle upgrade. Offer two, late return.
16:32 Offer three, premium insurance. Offer
16:35 four, minimum insurance downell. Offer
16:37 five, prepaid gas. So, yeah, I paid
16:40 more, but it also solved more problems.
16:42 Let's break down the problem she solved.
16:44 First, she solved my big man in small
16:46 car problem by offering a vehicle that
16:48 had more space. Then, she solved my late
16:50 checkout problem by offering the
16:52 flexibility to keep vehicle longer. Then
16:54 she solved my worries about dinging the
16:56 car problem by offering insurance to
16:59 protect against it. Then she solved my
17:01 risk of missing my flight problem by
17:02 offering a way to prepay for the gas
17:03 ahead of time so I wouldn't have to do
17:05 it on my ride back. And all of those
17:07 things cost money that I was happy to
17:10 pay. The rental car company thought out
17:11 every nuance. They thought about every
17:13 problem then made their solution
17:15 available to me. They offer solutions
17:16 for higher fees and hassles I might have
17:18 had later for smaller fees in total
17:21 right now. As a result, my $19 rental
17:24 became a $100 rental. I paid more money
17:25 faster. And now we can see why rental
17:27 car industry brings in billions in the
17:30 United States alone per month. A
17:33 successful money model. But where bad
17:35 money models kill businesses. It costs
17:37 many businesses more to get somebody to
17:38 buy a thing than they make in profit off
17:40 the thing. In other words, they lose
17:42 money getting new customers. That's a
17:44 big problem. And here's what happens.
17:46 They spend money to get customers. At
17:47 the end of the month, they realize they
17:49 spent more than they made. They cut back
17:51 on advertising. They get fewer customers
17:52 than they can handle because they can't
17:54 afford them. Then cut advertising
17:56 altogether. Float the business with
17:57 personal cash, loans, credit, and then
17:59 pray for profit. Sell percentages of
18:01 their business just to keep the lights
18:03 on. Wait months or years to make their
18:05 money back, if ever. Fall further and
18:07 further behind until finally they lose
18:09 it all. But it doesn't have to be that
18:11 way. There's plenty of money. You just
18:12 have to go get it. In traditional
18:14 business, the slow drip of profits from
18:16 lots of customers eventually pays for a
18:18 single customer. This drip starves the
18:21 business of cash. It means they can only
18:23 get customers through advertising if
18:25 they already have lots of customers. Big
18:26 companies or small companies with
18:28 investors can do this because they have
18:30 the money to burn. Think about it this
18:32 way. If you spend $100 in advertising to
18:34 get a customer and make $500 in profit
18:35 from them, that's a great deal. You
18:37 should take it all day. But what if it
18:38 takes you two years to make your cash
18:41 back? It's a great business if you
18:42 already have tons of cash in the bank.
18:44 Otherwise, you're going to run out of
18:46 money. That leaves you with two options.
18:48 Option one, wait two years to get paid
18:50 and pray you don't run out of money.
18:52 Option two, get paid fast and grow as
18:53 much as you darn well please. A good
18:57 money model is option two. Author note,
18:58 make enough profit to cover your cost in
19:01 30 days or less. I like to cover my cost
19:02 of getting a customer within 30 days.
19:04 Main reason any business can get
19:06 interest free money for 30 days in the
19:07 form of a credit card. If you clear your
19:09 balance before the end of the month, it
19:10 works just like normal money. So you can
19:12 use credit to get a customer, pay it
19:14 back, and then use it again to get the
19:15 next customer. And if you can pay it off
19:18 before 30 days, you can do it again.
19:20 Rinse and repeat. Good money models make millionaires.
19:23 millionaires.
19:24 If you make more offers and people buy
19:26 them, you make more money. If you make
19:28 more money, you can use it to get more
19:29 customers. If they pay you that money
19:31 faster, the faster you can get those
19:34 customers and stay profitable.
19:35 But what if you make your customers
19:37 twice as valuable? You get twice as many
19:39 of them, and you get those customers at
19:41 twice the speed. Your business grows
19:43 eight times faster. And if you triple
19:45 them, your business grows 27 times
19:47 faster. See where I'm going with this?
19:48 You can get really big, really
19:51 profitable, really fast with just a few
19:53 changes. And that's exactly what I'm
19:55 going to show you how to do. Next up,
19:57 money models are a sequence of offers.
19:59 Different offers solve different
20:01 problems. So, if you want to win, you
20:03 have to figure out what to offer next.
20:04 To figure that out, you've got to
20:07 understand the four types of offers. The
20:09 four types of offers that make money
20:13 models. Stop being poor. Paris Helden.
20:16 The limit does not exist. Lindseay Lohan
20:19 as Katy Herren in Mean Girls.
20:20 Making one offer works better than
20:22 making none, and making more offers
20:25 works better than making one. Combining
20:26 offers in a sequence makes a money
20:29 model. My money models combine four
20:31 different types of offers. Four types of
20:34 offers. Here are four types of offers.
20:37 Attraction offers, upsell offers,
20:39 downell offers, and continuity offers
20:41 all improve our money model, but they do
20:44 it differently. They work great on their
20:45 own, but together they make your
20:47 business unstoppable. If you look at a
20:48 great business, you'll see different
20:50 versions of these offers as core
20:51 components of their money-making
20:54 machine. You can use one, two, multiples
20:56 of one, or all four together. You can
20:58 combine them however you want. But when
20:59 I look at my most profitable businesses,
21:03 I use all four. Here's why. If you don't
21:04 have an offer for getting customers, you
21:07 won't get as many. But let's say you do.
21:08 If you only have that one thing to
21:10 offer, you won't make nearly as much
21:11 money as you could. So, if you have
21:13 something to offer next, an upsell,
21:15 you'll finally get some cash. But you
21:16 still won't make as much money as you
21:17 could because lots of people still say
21:19 no. So, you turn those nos into yeses
21:22 with downells. And that works fine. But
21:23 it would be even better if we get that
21:25 extra cash guaranteed to come in month
21:27 after month. So, you make a continuity
21:29 offer to top it off. That's how I like
21:31 to do it. So, that's how I structure
21:33 these sections. I start with attraction
21:34 offers because if you're not getting
21:36 customers, you need one of those first.
21:38 Then, we cover upsell offers followed by
21:40 downell offers. Then, to finish the four
21:42 types, I show you my favorite continuity
21:44 offers, exactly how I learned them. How
21:46 each chapter is structured. Here's how
21:48 the rest of the book reads. One, the
21:50 story of how I first learned this money
21:52 model. Two, a description of how the
21:54 money model works. Three, a few examples
21:56 of how this money model works in
21:57 different industries. Think of how you
21:59 could use money model in your business.
22:01 Four, important notes and tactics that
22:03 make the money model work. These tidbits
22:05 help you execute the play like it's your
22:07 hundth time doing it on your first try.
22:09 Five, a summary. All the important
22:11 points about the money model, plus some
22:12 extra thoughts sprinkled in about how to
22:14 make the money model work even more profitably.
22:16 profitably.
22:18 Important notes. All right, before I
22:20 release this pile of golden nuggets, I
22:22 need to make a few things clear. Number
22:24 one, all businesses have money models.
22:26 It makes a business a business. Switch
22:28 the poor person mantra of this won't
22:29 work for my business to the rich person
22:31 mantra of how will I make this work for
22:35 my business. They all work. Be creative.
22:37 Two, some money models work better in
22:39 some businesses than others. They're
22:41 just different ways to offer stuff. If
22:43 you just try and copy what they do,
22:45 you'll be disappointed. To make it work
22:46 for your business, you have to design
22:48 your own. But don't worry, I'll show you
22:51 how. Three, if a customer asks for their
22:53 money back, give it back. Avoid the
22:55 headache. And if you made a goof, fix
22:58 the goof. Don't be a silly goose. Treat
22:59 customers well. Spend the time and
23:01 resources getting a customer better fit
23:04 for your business. Four, hard selling is
23:06 for weak products. If someone doesn't
23:08 want something, that's okay. Don't
23:09 convince someone against their will.
23:11 Make offers available at the time your
23:12 customer has a problem, and you'll be
23:13 ahead of the competition. And if they
23:15 don't want it, no sweat. Find somebody
23:18 who does. It's a numbers game.
23:20 Five, obey the law. I learned these
23:21 plays in different situations from
23:23 different people using it on different
23:24 platforms in different times in
23:25 different places following different
23:27 rules. Advertising laws change all the
23:29 time and they tend to only get tighter,
23:30 especially when it comes to the word
23:33 free. Check with lawyers to see if an
23:34 offer you want to make is legal or not.
23:36 This book is intended to be money's
23:39 inspiration, so use it that way. Six, be
23:42 transparent. State the facts, and if the
23:44 facts aren't compelling, change reality
23:45 to make them compelling or learn to
23:47 frame them in a way that is. Don't lie.
23:49 You'll short change yourself long term.
23:50 And unlike credit card debt, you can't
23:52 file bankruptcy to erase a bad
23:53 reputation. Once you have a bad one, it
23:56 sticks for life. Number seven, any offer
23:58 can be used on its own at any time in
24:00 any order. A business works as long as
24:02 it makes a profit. Most offers in this
24:04 book could meet the minimum requirement
24:05 on their own. When used in the right
24:07 sequence, and at the right time, they
24:09 make a $100 million money model. I've
24:11 got big dreams, and I bet you do, too.
24:13 So, we're going to use them all. With
24:16 that said, let's go for a ride. First
24:18 up, attraction offers. Most businesses
24:19 spend too much to get customers and make
24:21 too little from them. They are cash
24:23 constrained. But you use cash to get
24:25 more customers, and I like more
24:27 customers. So, I always solve this first
24:29 with an attraction offer.
24:32 Free gift bonus tutorial on the four
24:34 types of offers. If you want a more
24:36 in-depth look at how we think through
24:37 layering different offers, go to acquisition.com/training/money.
24:40 acquisition.com/training/money.
24:43 It's free and publicly available. My
24:45 goal is to earn your trust, and trust is
24:47 built brick by brick. Allow this
24:48 training to be the first of many bricks.
24:51 Enjoy. Section two, attraction offers.
24:53 How to turn eyeballs into money.
24:55 Attraction offers generate leads and
24:57 convert them into customers. They turn
24:59 advertising into money by offering
25:01 something free or at a discount. We do
25:02 this because everyone wants a great
25:05 deal. In a great deal, customers get far
25:07 more value than the price they pay.
25:09 Strangers can only take your word on the
25:10 value, but they absolutely understand
25:12 the price. For that reason, discounts
25:14 make anything a great deal to just about
25:16 anyone. And the greater the discount,
25:18 the better the deal. The greatest
25:20 discount of all being free. Free and
25:22 discount work interchangeably. First
25:24 off, anytime I say free, you can use
25:27 discount or $1. Anytime I use discount,
25:30 you can also use free or $1 and so on.
25:31 They all discount a product to some
25:34 level. Even if you discount 100%. If you
25:36 can imagine a way to use a discount or a
25:38 free offer, then you can do it. After
25:40 that, I'll let you use your noggin to
25:42 exchange them as you see fit. So, how do
25:44 you make money by offering free stuff?
25:46 Think about it this way. People look for
25:48 one thing and then buy another by
25:50 accident all the time. Attraction offers
25:52 get them to do it on purpose. But what's
25:54 a better deal than free stuff? More and
25:56 better free stuff. One free thing is
25:58 awesome. Two free things are awesomeer.
26:00 And maybe to get those two free things,
26:03 they have to buy one. That's how we make
26:05 money on free stuff. In this section, I
26:06 go over my five favorite ways to make
26:08 money by offering free stuff. Number
26:10 one, win your money back. Number two,
26:13 giveaways. Number three, decoy offer.
26:15 Number four, buy X, get Y free. Number
26:18 five, pay less now or pay more later.
26:21 Let's make some money. Free gift bonus
26:22 tutorial on attraction offers. I made a
26:24 free video for you on how to attraction
26:26 offers work. If you want it, just go to acquisition.com/training/money.
26:32 There's no opt-in required. Enjoy. Win
26:34 your money back. If you do X or achieve
26:37 Y within Z days, you can get it free.
26:39 June 2013.
26:41 I was in a room full of experienced gym
26:43 owners and I was the new guy. We all
26:44 took turns talking about what was
26:46 working well. That's when Danny piped
26:48 up. Yeah. So, as you guys know, I've
26:50 been struggling with sales and I think I
26:52 got it figured out. I had this pain in
26:55 the butt guy who wouldn't buy anything.
26:56 He knew he needed it, but he also said
26:58 he needed more accountability. So, we
27:00 were going back and forth and he finally
27:01 came up to me with this idea. He said,
27:04 "How about this? I'll give you $500. You
27:06 train me for eight weeks and if I hit my
27:07 goal, I get my money back, but in
27:09 return, you can use my results to market
27:11 your business." Fair enough. I figured,
27:12 what the heck? He wasn't going to buy
27:14 anyways, so I said, "Sure." "So what
27:16 happened?" I asked. "He hit the goal. So
27:18 did he give him his money back?" "Yeah,"
27:20 Danny said. I cut in. "So what then?"
27:22 "He just left." "That's what you'd
27:23 think, but he ended up using the money
27:26 to buy more time." "Huh, seems decent
27:27 enough. What about marketing his
27:29 results?" Dude, making his workouts
27:30 public and posting his before and after
27:33 pictures brought 13 referrals. Oh,
27:35 that's insane. Now we're talking. Yeah,
27:37 I know. I offer this to everyone now.
27:38 The results are way better. People love
27:40 the offer and all the free advertising
27:41 they do gets us their friends and family
27:43 to join too. I'm making more money than
27:45 ever. This was the first time I ever saw
27:47 an offer like this. I updated it over
27:49 time, but the course stayed the same.
27:50 Pay now with a chance to get your money
27:52 back later. I used it for private
27:54 training, group training, private
27:55 nutrition coaching, and group nutrition
27:57 coaching. And once I saw how well it
27:58 worked with my customers, I started
28:00 putting the offer in my ads for new
28:02 customers. My cost of getting customers
28:04 went way down and my leads exploded.
28:06 description. A win your money back offer
28:08 works like this. You set a goal for the
28:10 customer and tell them how to reach it.
28:12 If they reach it, then they qualify to
28:14 get their money back or get it back as
28:16 store credit. This offer grew my gyms
28:18 better than any other. It was also the
28:20 first grand slam offer Gym Launch taught
28:21 to gym owners. It has tons of
28:23 flexibility. So, if you want to get more
28:25 cash, get more customers, and get them
28:27 better results, nothing beats it. To win
28:29 your money back, the person has three
28:32 options. Get results, take actions, or
28:34 both. And to make this work, you have to
28:36 make the results and actions simple to
28:39 track. Results here, no matter what they
28:42 do, if the customer gets the result,
28:43 they win their money back. For example,
28:45 making X dollars a month, getting Y
28:47 customers, losing Z pounds, etc.
28:48 Basically, they bet on their ability to
28:51 reach the goal. Actions. Here you hold
28:52 them accountable for doing actions
28:54 instead of getting results. No matter
28:56 what results they get, if the customer
28:57 does what you ask, they win their money
28:59 back. For example, attend all sessions,
29:01 calls, meeting, log progress, take
29:03 pictures, do assigned homework, etc.
29:04 Here, they bet on their ability to
29:06 follow instructions, actions, and
29:08 results. Here, you hold the customers
29:09 accountable to following directions and
29:11 getting results. If they do both, they
29:13 win their money back. Often, people
29:14 wanting to achieve a goal have too few
29:17 skills to do it. Even if they did bet on
29:19 themselves, they'd fail. By setting a
29:20 good goal for them and showing them how
29:22 to reach it, they have a fighting
29:23 chance. Here, they bet on their ability
29:25 to follow directions and that your
29:27 directions will get them the result.
29:30 Bottom line, customers put money down.
29:31 If they do the stuff or get the result
29:34 or both, they get it back as cash or
29:37 store credit. Examples:
29:39 business to consumer offer. Free 28-day
29:42 blueprint. Deposit X dollars and get it
29:45 all back if you one, attend all the
29:47 consulting calls. Two, post your
29:48 progress in the group once per week.
29:51 Three, journal daily in our app. Four,
29:53 attend your feedback session and your
29:55 transformation session. Hint, calls and
29:56 meetings become opportunities to make
29:59 more offers. Next example, businessto
30:02 business offer. Five customers in five
30:04 days free challenge. Deposit X dollars
30:07 and get it all back if you one, send 100
30:09 messages a day. Two, report stats on
30:11 messages sent. Three, attend daily
30:13 trainings. Four, postfinish homework in
30:16 group. Five, attend fiveday consulting
30:18 call. Hint, here you offer more, better,
30:21 or new products and services.
30:23 Example number three, physical product
30:25 offer. Put 1 million miles on your car
30:28 and get a free car. So you get a free
30:30 car if you one buy a new car from us,
30:33 two drive the car a million miles, three
30:35 turn it in, four take pictures and be in
30:38 a press release, five we'll credit all
30:39 your original purchase towards your next
30:41 car. This was an actual offer by Volvo
30:43 years ago.
30:46 Important notes. This offer has
30:49 generated $1 billion in sales. It works.
30:51 I have made a lot of money with it. You
30:54 can too. One-year Money Back works with
30:57 new, current, and previous customers. I
30:58 like to use it with new customers
30:59 because it offers the steepest discount
31:02 possible, 100%. I like it with current
31:03 customers because it mixes them in with
31:06 new customers. And I like to use it to
31:07 get previous customers back because
31:10 bigger incentives get them to come back.
31:11 It works well with stuff that people
31:14 start and quit like starting a business,
31:16 learning new skills, losing weight,
31:17 building fitness, beauty regimes,
31:19 self-care, time management, mental
31:21 health management, etc. It keeps
31:23 motivation during the early pains of
31:25 learning. To this day, I've never seen a
31:27 better way of setting up a program for
31:29 results. A true win-win.
31:31 Don't worry, this offer makes some
31:34 money. If you did give all the money
31:36 back, this offer wouldn't make money.
31:38 But it does. First, many won't qualify,
31:41 even with realistic conditions. Second,
31:42 those who do qualify often stay as
31:44 customers, but they can only stay
31:45 customers if they have something else to
31:47 buy. So, have an upsell ready to apply
31:48 their winnings to, which I'll cover in
31:51 section 4, even more. Only offer when
31:53 your money back if you feel okay with
31:55 giving money back. Refunds are a part of
31:57 doing business. However, when advertised
31:58 well, the win your money back offer gets
32:00 tons of extra customers. And when you
32:02 give satisfied customers a great
32:03 follow-up offer, you make plenty of
32:06 profit. This more than outweighs the
32:07 refunds. From the data we've collected
32:09 from thousands of gyms, about 10% of all
32:11 customers will ask for their money back.
32:13 If you can't stomach that, don't do this.
32:14 this.
32:17 Offer store credit instead of cash. If
32:19 you don't want to offer cash back, you
32:21 can offer store credit instead. My
32:23 testing showed offering store credit and
32:24 cash back got the same number of
32:25 customers, so you might as well offer
32:27 store credit. But if you still want to
32:28 advertise free, pair it with an
32:30 unconditional satisfaction guarantee.
32:32 Adding the unconditional guarantee never
32:34 materially affected the people who
32:35 wanted their money back. Check with
32:37 legal counsel in your area. Of course,
32:39 don't take blood money. If someone
32:41 doesn't want me to have their money, I
32:42 want it even less than they do. As a
32:44 personal rule, if a customer asks for
32:46 refund, entitled or not, I give it to
32:47 them. Just focus on getting the next
32:49 customer. How to create your win your
32:52 money back criteria. These criteria make
32:54 or break this offer. Good criteria have
32:56 three characteristics. One, they're easy
32:59 to track. So train them on exactly what
33:01 they need to do or they will mess it up.
33:03 Bonus points if people already do it.
33:06 Example, phones already track steps,
33:08 word processors already track word
33:09 count, cameras automatically date
33:14 photos, etc. Get customers results.
33:16 Make criteria likely to get them to
33:17 their desired results. Realistic
33:19 criteria do just fine. If you think the
33:21 criteria looks too easy, you've probably
33:23 gotten close to realistic. They may take
33:26 a few tries to get it right, but so does
33:28 anything worth making. Examples: attend
33:31 meetings, workouts, watch videos, etc.
33:33 Whatever the best customers do to get
33:35 the best results, make everyone do it
33:37 and they'll get great results, too.
33:39 Three, advertise the business. Make
33:41 advertising the business part of your
33:43 criteria. For example, posting about
33:45 their participation, tagging in social
33:47 media, referring or leaving reviews and
33:49 testimonials. How you apply store
33:51 credit. This is important. When
33:53 customers win their money back, offer to
33:55 apply it over a longer period or a bulk
33:58 package. Just offer to apply it to
33:59 something that costs more than their
34:01 winnings. In my experience, this keeps
34:02 customers engaged and makes you more
34:04 money. So, here's what it looks like.
34:06 You have a product or service that costs
34:08 $200 a month. A customer wins $600 of
34:10 credit. Avoid giving them 3 months free
34:14 upfront. Instead, apply the $600 over 12
34:16 months. So, $600 divided by 12 months is
34:19 a $50 per month credit. Now, they pay
34:22 $200 per month minus the $50 credit for
34:24 a total of $150 a month. To be clear,
34:26 they can use the credit however they
34:27 want, but I recommend that you present
34:29 this first. If they ask to use it
34:32 upfront, you can share my perspective,
34:33 which is that people fall off if they
34:35 don't pay something. A discount over the
34:36 long haul keeps them engaged over the
34:38 long haul. So, it's in the customer's
34:40 best interest to keep some skin in the
34:42 game. In-depth details on this upsell
34:45 offer in the rollover upsell chapter in
34:46 section 4.
34:48 All meetings and calls provide
34:50 opportunities to make more offers. Make
34:51 check-in meetings part of your money
34:53 back criteria whenever you can and make
34:55 all meetings required to win their money
34:57 back. Beyond helping them succeed, they
34:59 are the best opportunities to make
35:01 upsell offers. So, after you've checked
35:03 in, offer what makes sense based on
35:05 their feedback. The win your money back
35:07 offer and my gyms had three
35:09 appointments. nutrition orientation,
35:11 which is before pictures, where I'd make
35:13 a supplement offer. Progress check-in,
35:15 where I'd make a membership offer, and
35:17 transformation feedback, which was after
35:18 pictures, where I'd make a membership
35:20 offer again. And if they bought the
35:21 membership at the last meeting, I
35:23 offered a discount if they prepaid the year.
35:24 year.
35:27 Make everyone a winner. Promote and sell
35:28 the program as though they will only get
35:31 it back if they meet the criteria. But
35:32 about halfway through, make your next
35:35 offer as if they've already won. You
35:36 lower the customer's anxiety about
35:38 failing and you keep them longer.
35:40 They'll also love you that much more. It
35:42 goes something like this. I know you're
35:43 trying to hit this short-term goal, but
35:46 what's your long-term goal? Okay, that's
35:47 great to hear. You get that it's not
35:49 about this short-term program, but about
35:50 your long-term results. So, I'll tell
35:52 you what. To show you how much I want
35:53 you to hit your long-term goal, I'll
35:55 credit this program towards the next
35:56 one, whether you hit the short-term goal
35:59 or not. How's that sound? And then you
36:00 sign them up right there for the
36:02 long-term thing before they even finish.
36:04 At the end of the program, let the
36:06 losers win. If someone refuses your
36:08 first upsell and fails the challenge,
36:10 you can still upsell them again. Here's
36:12 how. Act like they won. I say something
36:14 like this. Don't worry about it. You
36:16 started. That's the biggest victory of
36:17 all. And even though you didn't hit your
36:19 short-term goal, you met ours, which was
36:21 finishing what you started. To show you
36:23 that we're in this for the long haul,
36:24 we'll credit your entire deposit towards
36:26 staying with us long term. That way, you
36:27 get your money back and you can still
36:29 hit your goal. How does that sound?
36:31 You'll turn that frown upside down and
36:32 they'll love you for it. Remember, we
36:34 don't get customers to make a sale. We
36:36 make sales to get customers. The
36:37 one-year money back offer has a simple
36:39 structure with lots of flexibility. At
36:41 its heart, you offer a product or
36:42 service and a way for customers to get
36:44 their money back if they actually use
36:45 it. Then, if they use it the way you
36:47 suggest, they will get good enough
36:48 results and stay open to more offers
36:51 and/or longerterm commitments. Summary
36:53 points. Win your money back is magical
36:55 for businesses that require customers to
36:56 put in continuous effort to get their
36:58 ideal outcome. The win your moneyback
37:00 offer rocks because you get loads of
37:02 upfront cash. You get more customers to
37:04 say yes to you since it's lower risk.
37:06 You get massive results for customers.
37:08 You get more long-term customers. They
37:09 advertise your offers to get you even
37:11 more customers. Making some meetings a
37:13 part of getting the deposit back give
37:14 great opportunities to check in with
37:16 your customers and make more offers
37:18 specific to their needs. Everyone thinks
37:19 businesses make money on people who fail
37:21 this program. No. The real money comes
37:23 from people who succeed with it and you
37:25 have something else to offer them. Trust
37:27 me on this one. The more results you
37:28 deliver, the more money you'll make.
37:31 Think long. Make the refund criteria
37:32 easy to track, aligned with the
37:34 customer's goals, and helpful to the
37:36 business. Only use a win your money back
37:38 offer if your refund rate is currently
37:40 below 5%. Otherwise, fix your product
37:42 before doing this. You'll risk getting
37:44 too many refunds. Put the store credit
37:46 towards another, preferably more
37:48 expensive offer. You want them to stay
37:49 customers, so give them the opportunity.
37:50 You never want people to stop paying
37:53 you. To make more sales and keep more
37:54 customers, make everyone a winner in
37:56 private. That way, everyone stays
37:57 surprised and grateful when you make
38:00 your upsell offer. Free gift, win your
38:02 money back offer training video. I've
38:03 made a tremendous amount of money with
38:05 this offer, and I have more details and
38:07 stories I couldn't reasonably fit in
38:08 this book. If you want that, I made a
38:10 free video for you. No opt-in required.
38:12 To watch it, just go to acquisition.com/training/money.
38:17 Author note, send me cool money models
38:20 you find or use. Submit any really cool
38:21 money models you see, and I'll feature
38:23 them on my channel and in upcoming
38:25 versions of this book. I want this book
38:26 and the online training that's free to
38:28 expand over time to encompass every type
38:30 of money model. And I need your help to
38:32 do it. I will only live one life, but
38:33 together we can scour the earth for the
38:35 best money models in existence. Everyone
38:37 wins. So if you find a cool one, just
38:39 send it to valueacquisition.com.
38:41 Follow the same five-step format listed
38:44 above and you can send any links to it
38:46 if you can. Make sure to check out acquisition.com/training
38:48 acquisition.com/training
38:51 for updates on new ones. Giveaways. Many
38:58 Disclaimer: sweep stakes and giveaways
39:00 are heavily regulated. Main reason,
39:01 they're exceptionally powerful and when
39:03 done wrong can become illegal
39:05 lotteryies. We don't want that. Jail
39:07 time. No bueno. Make sure you follow all
39:09 the local advertising laws. This
39:10 description is no way a guarantee of
39:12 lawfulness. I take no responsibility for
39:14 anything you do or don't do as a result
39:16 of reading this chapter. Oo. Okay, got
39:19 that out of the way. August 2020, I
39:21 hopped on the phone with the owner of a
39:22 fitness certification business to talk
39:24 shop. In a few minutes, he gave me the
39:26 rundown about how they certify fitness
39:28 enthusiasts and help them find clients.
39:30 Interesting business you've got, I said.
39:32 How do you get leads?
39:34 Well, it's pretty simple. We advertise a
39:36 full ride scholarship for our entire
39:38 program. People apply with their contact
39:39 information and then answer a few
39:42 questions. We ask stuff like, "Why
39:43 should we pick you for the full ride
39:45 scholarship? The best answer gets a full
39:47 ride, but we also do something more."
39:50 Nice. Keep going. I said we give out
39:52 partial scholarships. What do you mean?
39:54 How's that work? Well, we often have a
39:56 clear winner for the full ride, but tons
39:57 of people have inspiring stories, so I
39:59 want to make sure they get scholarships,
40:01 too. Now, I can only give away one full
40:03 ride, but I can give away as many
40:05 partial scholarships as I want. And then
40:08 it hit me. Oh, so lots of people apply
40:10 for the grand prize and only one person
40:12 gets that, but the other applicants
40:15 qualify for smaller prizes, right? So, I
40:16 make a big deal out of the person who
40:18 wins the full ride scholarship, but then
40:19 I call everyone else to let them know
40:21 they got the partial scholarship. When I
40:23 talk to them, they're thrilled. Most of
40:25 them join our program on the spot. So,
40:26 they don't know the actual price of your
40:28 thing when they hop on the call. Nope.
40:30 But they know the value of the full ride
40:31 scholarship. And then when you present
40:33 the discounted price of your program
40:34 with the partial scholarship, it's still
40:37 a huge savings. Exactly. So, not only do
40:39 you get tons of engaged leads, but you
40:40 also get more customers with your
40:43 surprise discount. Genius. It works
40:44 really well.
40:46 We actually have to cap it to make sure
40:47 we can service all the new signups.
40:48 Believe it or not, we teach the same
40:51 play to trainers that we certify. It
40:52 works just as well to get fitness
40:54 customers and sometimes even better.
40:57 Man, I love it. He presented this as an
40:59 education offer and as a fitness offer,
41:01 but it's so much more. I'm going to show
41:03 you how to use it in any business. Free
41:04 giveaways generate many leads who show
41:06 interest in your most expensive product.
41:09 What could be better? Description.
41:11 Giveaway offers advertise a chance to
41:12 win a big prize in exchange for your
41:14 content information and whatever else
41:16 you want. Then after picking a winner,
41:18 you offer everyone else the big prize at
41:20 a discounted price. Giveaways also go by
41:22 names like scholarship, sweep stake, and
41:24 raffles. They all mean enter for a
41:27 chance to win. To run a giveaway offer,
41:28 you pick a grand prize, pick your
41:30 promotional offer, ask for contact
41:32 information, and other eligibility
41:34 criteria. Pick what actions you want
41:36 entrance to take to qualify for the big
41:38 prize. Put the giveaway on a deadline to
41:39 add urgency. Announce the grand prize
41:42 winner and contact everyone else. Let's
41:45 go into each with more detail. Pick a
41:46 grand prize. Make your grand prize the
41:48 thing you want everyone to buy. Make
41:50 sure you assign a monetary value to your
41:52 grand prize to serve as a price anchor.
41:54 For instance, if you sell $5,000 worth
41:56 of value for $2,000, then advertise the
41:59 $5,000 value. Next, pick your
42:01 promotional offer. Your promotional
42:02 offer takes the place of the partial
42:04 scholarship in the story. You create it
42:06 by enhancing your core offer with a
42:09 discount, a bonus, or by minorly
42:10 changing it from the grand prize in
42:12 order to ethically justify a price
42:14 reduction using the grand prize as a
42:16 price anchor. And the bigger the
42:17 discount, the more compelling the offer.
42:19 So, the bigger the value you ascribe
42:21 your grand prize, the better. Remember,
42:23 leads entered the giveaway because they
42:24 found the grand prize interesting. It
42:25 gets you qualified leads because you
42:27 offer what they already showed interest
42:29 in at a discount. Call your promotional
42:31 offer, the thing you sell, to everyone
42:32 else, whatever you want for your
42:34 giveaway. Scholarship, gift card,
42:36 dollars off, store credit, vouchers, etc.
42:37 etc.
42:40 Next, ask for contact information. In
42:42 exchange for a chance to win, ask for
42:44 permission to contact them in any way
42:45 you please for follow-up promotions.
42:48 Beyond that, I survey for prize
42:49 eligibility and then ask them to take
42:51 qualifying actions. So, what's
42:54 eligibility? If I ask them if they're a
42:56 fit for my products, like, "Do you own a
42:57 vet clinic?" or more
42:59 character/neeadbased questions like,
43:02 "Why should you be selected?" Ask for
43:04 qualifying actions. Those are other
43:06 stuff entrance do to qualify to win. I
43:08 also use these to get them to promote my
43:10 giveaway more or demonstrate higher
43:13 levels of interest. Example, attending a
43:15 call or event, making a post, entering a
43:17 group, etc. Put the giveaway on a
43:19 deadline to add urgency. Set a date for
43:21 the grand prize drawing. Make your
43:23 giveaway more urgent by only making it
43:25 available for a limited time. I like 3
43:26 to seven days from the day I start
43:28 promoting it. As soon as leads enter the
43:30 giveaway, update them daily. First, let
43:32 them know how long they have left until
43:33 you announce the winner. You can do this
43:35 with email, direct messages, text,
43:37 social media posts, and so on. Do as
43:38 many times as reasonable. Once a day
43:41 across all platform works fine. Second,
43:43 provide value along with your countdown.
43:44 Show everyone the benefits of the grand
43:46 prize, how excited they should be, and
43:48 refer everyone to social proof. Keep the
43:52 hype alive. Pro tip: Whisper Tea Shop.
43:54 Once people enter the free giveaway, it
43:56 may help to think of the countdown like
43:58 a mini product launch. So, check out the
43:59 affiliates and partners chapter of $100
44:01 million leads for a detailed look on
44:03 launches. Announce the grand prize
44:04 winner and start contacting everyone
44:06 else. Announce the grand prize winner
44:07 publicly, then message everyone else who
44:09 qualifies for your core offer privately.
44:12 The beauty is everybody else qualifies
44:14 for a promotional offer. Notify them by
44:16 text, email, and direct messages. In
44:18 that message, ask them to schedule a
44:19 call up. Is it because they qualified
44:20 for something? If you need a reason,
44:22 just say that you found their answers or
44:24 story so compelling you felt obligated
44:25 to give them something just for
44:26 entering. Think of your promotional
44:29 offer like a participation trophy. To
44:30 make sure they redeem, add another
44:32 deadline. Make claiming your promotional
44:34 offer. The scholarship, gift card,
44:36 dollars off, store credit, vouchers
44:39 expire in 7 days. The second count works
44:40 like the first. Show the benefits, more
44:42 social proof, and more valuable stuff
44:44 about your offer. Give them a way to
44:45 book a call to claim their promotional
44:48 offer. Explain the cost to value using
44:50 their discount. My rule of thumb, make
44:52 your core offer discount equal to 10 to
44:54 30% of your gross margins. Say we
44:56 advertise a grand prize with a $5,000
44:59 value and a $2,000 retail price tag.
45:02 Everyone else gets it for $1,800, a 10%
45:04 discount off retail. When we let them
45:05 know they qualified for something, we
45:08 explain they get $5,000 value for an
45:10 $1,800 price tag. By comparing the value
45:13 of the thing to what they pay, a 10%
45:15 discount becomes a 64% difference in
45:18 cost of value. Bottom line, remember,
45:19 everyone that entered the giveaway
45:21 showed interest in your thing. And if
45:22 somebody shows interest in a thing that
45:24 you have to offer, offer it to them.
45:28 Example, free giveaways. Dentist offer.
45:29 Free Perfect Smile giveaway. Grand
45:32 prize. A free set of invisible braces.
45:35 $6,000 retail price. Promotional offer.
45:37 $2,000 gift card for braces. Physical
45:39 products offer. Free year of organic dog
45:42 food. Grand prize. Free year of organic
45:44 dog food. $1,000 retail price.
45:46 Promotional offer. $300 gift card for
45:49 dog food. Usable only with a one-year
45:52 subscription. Services. Offer. Free
45:55 ultimate giveaway. Grand prize, free
45:57 one-year package, $5,000 retail price.
46:00 Promotional offer, $2,000 voucher,
46:01 redeemable towards one year of service
46:05 agreement. Consulting offer, free 16week
46:07 turnaround giveaway. Grand prize, 16we
46:10 turnaround. Retail price, $12,000.
46:12 Promotional offer, $6,000 partial
46:15 scholarship. Important notes. Consult
46:16 legal counsel about how to structure
46:18 your giveaway. I'm not legal counsel,
46:19 but I do consider these no-brainers
46:21 because of the way that I like to do
46:23 business. Somebody actually has to win
46:25 the grand prize. Make the grand prize
46:27 and qualifications to win clear in the
46:29 rules. Make clear that more than one
46:31 person can win a prize. Ask your legal
46:33 counsel about the rest. Eligibility
46:35 criteria get more customers to buy your
46:37 core offer. More people will take your
46:39 core offer if you can make the value
46:41 specific to them. I ask questions like
46:43 this to get ammo. Why should we pick
46:45 you? Why this program? Why now? Why does
46:46 this matter to you? Why is this
46:48 important to you? What's your goal? Etc.
46:50 That being said, the more work you make
46:51 it to enter, the fewer people will
46:53 enter, but the more qualified they'll
46:55 be. So, find your sweet spot. If your
46:56 giveaway doesn't work, it means your
46:58 grand prize wasn't grand enough. One of
47:00 my portfolio companies ran a giveaway.
47:01 They barely got interest. Their grand
47:03 prize, tickets to their event, not
47:05 compelling. I told them grand prizes
47:07 only work if they're grand. They tried
47:09 it again with a $50,000 bundle of
47:11 equipment from a well-known supplier in
47:13 the gym space, plus their core product
47:15 for a year, and this time it crushed.
47:17 Surprise. When you have an awesome thing
47:19 to give away and you advertise it
47:21 properly, the leads flood in. And
47:23 giveaway kind of explains itself. So, if
47:25 nobody bites, then I suggest you give
47:27 away something better or at least better
47:30 for the audience. Give away two prizes
47:33 for twice the leads.
47:36 If you give away one prize, that's fine.
47:37 But if you give away two grand prizes,
47:39 you can get twice the leads or more.
47:41 Here's how. Just tell everyone that if
47:43 someone they refer wins the grand prize,
47:45 they win one, too. That way, they get
47:47 endless entries into the contest by
47:49 referring their friends. This gets more
47:51 people to refer and work together. This
47:53 also provides a sneaky benefit.
47:55 Referrers are invested in the success of
47:57 their referrals. This keeps quality
47:58 high. Here's an example I did for
48:01 school.com, a platform I own for people
48:03 to build and monetize communities. Refer
48:05 a winner and you win, too. Many of you
48:07 are inviting friends to play the games
48:08 with you. And that's the point, to make
48:10 business fun. To encourage this even
48:12 more, we're adding a new incentive. If a
48:14 person that you refer gets in the top
48:16 10, you get to come, too. Aka, if they
48:18 win, you win. Beyond that, as a
48:21 reminder, anyone you refer to school
48:23 earns you a lifetime 40% commission.
48:24 Everyone's going to come to school
48:26 eventually, and people can only be
48:28 referred once. And since you're all
48:29 early, you have a bigger opportunity to
48:31 refer. So, I'd encourage you to refer
48:32 them before someone else does or they
48:34 come on their own. Imagine referring all
48:35 your friends to Facebook before everyone
48:37 was on it. Like that, but cooler because
48:39 you're actually helping them learn and
48:41 grow and getting a commission, too. To
48:42 refer somebody to share your referral
48:45 link, go here. PS. You'll have a higher
48:46 likelihood to win the games if the
48:48 people you refer already have an
48:49 audience to give their group an
48:51 immediate boost. Scarcity. Scarcity.
48:54 Scarcity. Limit your giveaway by time,
48:56 number of entries, or both. You can run
48:57 giveaways for a specific amount of time.
48:59 Example, 7 days. A specific number of
49:02 entries, example 5,000 entries, or both.
49:04 I like both. I match how many people I
49:07 let enter. I match how many people I let
49:09 enter the giveaway with the number of
49:11 people I have the time and resources to
49:13 connect with inside 7 days. Any more
49:15 would be a waste. Urgency. Urgency.
49:18 Urgency. I add urgency in three places.
49:21 To enter, to claim, to use. Make how
49:23 long they have to enter clear in the
49:24 advertisements. Once you announce the
49:26 winners, let them know how long they
49:28 have to claim it. When they do, schedule
49:31 their call the same day or the next day
49:32 if you can. Once you let people know
49:34 they won, tell them how long they have
49:37 to use it. I like hours, but I have gone
49:39 up to 5 days. In short, always have
49:42 deadlines. Have downells available. Some
49:44 won't or can't buy your promotional
49:46 offer, even with the discount or bonus.
49:47 And that's okay. Here's how I approach
49:49 it. At the start of the call, let them
49:51 know they qualified for two prizes and
49:52 that you'll help them figure out which
49:54 way makes the most sense for them. Then
49:57 present your promotional offer, aka the
49:58 discount on the grand prize thing. If
50:00 they take it, great. If not, then offer
50:02 the same discount by percentage on any
50:04 other product you have that makes sense
50:06 for them. If you have a recurring
50:07 revenue business, apply their discount
50:09 over the longest period of time they'll
50:11 agree to. Then set up their monthly
50:13 subscription to bill automatically at
50:15 normal rates after the discounted period
50:18 ends. Summary points. At their core,
50:19 giveaways ask an audience to apply to
50:21 get a high value thing of yours for
50:23 free. Many will enter, one wins. The
50:25 rest qualify for discounts on your core
50:28 offer. Pick a grand prize people want.
50:30 Give two prizes away if you want more
50:32 people to refer. Tell them if Tell them
50:34 if someone they refer wins, they win the
50:36 other prize. Offer a chance to win the
50:38 grand prize to anyone who enters and
50:40 qualifies. You can get great information
50:41 from every lead because you can make it
50:43 part of the entry process. Get
50:44 information that indicates how your
50:46 offer will provide them value. This
50:48 becomes important for making offers
50:50 later. Advertise your giveaway for 7
50:51 days or until the number of leads
50:53 surpasses the number that you can manage
50:55 to call in 7 days, whichever comes
50:56 first. Book appointments with everyone
50:58 else to claim your promotional offer.
51:00 Use whatever reason why feels good for
51:02 you. Put an expiration date on people
51:04 claiming their prizes to make them more
51:05 likely to claim them. If somebody says
51:07 no to your core offer, have another
51:09 product or service to discount. It may
51:11 suit the lead better. Free gift.
51:14 Giveaways bonus training. Giveaways are
51:15 one of the strongest attraction offers
51:16 on earth. They're so good they need to
51:18 be regulated. I mean, who doesn't want
51:20 something for nothing, right? I made a
51:21 free video training that covered the
51:23 topic in depth. If you love this stuff
51:24 as much as me, you can check it out at acquisition.com/training/money.
51:27 acquisition.com/training/money.
51:29 As always, you can scan the QR code if
51:32 you hate typing. Enjoy. Decoy offer.
51:33 Which one do you think will get you the
51:35 best results?
51:38 June 2014. John, my second mentor,
51:40 retired early. He spent his retirement
51:41 raising his girls, playing golf, and
51:43 hanging out at his lake house. He was a
51:46 man who had lived. Once in a while, he'd
51:47 invite me to his lake house. And on
51:48 those long drives, he taught me things
51:50 about life and business I use to this
51:52 day. Like the difference between price
51:53 and value, the pros and cons of low
51:56 lowcost offers, high volume, low price
51:58 business models, differences between
51:59 recurring subscriptions and one-time
52:01 transactions, and the art of keeping
52:04 things simple in business and life. John
52:05 was great company. I often wish we would
52:07 drive forever so I could soak everything
52:09 in. To him, this was just another story
52:11 to pass the time. But to me, it was a
52:13 lesson I would never forget. The 5-day,
52:16 $5 VIP tanning pass. You see, the beauty
52:19 of the $5, 5day pass is everyone thinks
52:21 they can get tan in 5 days. And they
52:23 can, but it's never as tan as they want
52:25 to get. And if they try to speed things
52:27 up, they'll burn. So, when someone comes
52:29 in with a pass, we ask them how tan they
52:31 want to get. And as soon as they say
52:32 they want to get a few shades darker,
52:34 we'll give them the turkey talk. I like,
52:36 "What's the turkey talk?" John smiled
52:38 and continued, "Say a Thanksgiving
52:40 turkey takes 3 hours to cook. We all
52:41 know what happens if you double the
52:42 temperature to cook it in half the time.
52:45 You burn it. It takes at least 5 to 10
52:46 sessions to get the color you want
52:48 without burning. And since they got to
52:49 take some time between sessions, it
52:51 always takes more than 5 days. And once
52:53 they realize that, we say, "Let's just
52:55 credit your VIP pass towards your first
52:58 month. Why buy so many $25 day passes
53:00 when members get unlimited access for
53:02 just $19.99 a month?" They immediately
53:04 see the value and think to membership.
53:07 Easy as that. 5 years later. "Hey boss,
53:09 we've got a problem." "Oh boy, what's
53:12 up?" I said, "Our fitness leads have
53:13 gotten way too expensive. The guys who
53:15 can sell are still making it work, but
53:16 most of them are barely breaking even.
53:19 Dang. So, it finally happened, I said. I
53:21 pressed my hands to my forehead. I knew
53:22 this was coming, and the truth is, I was
53:25 dreading it. I tried for weeks to put a
53:27 spin on our previous offer. A new or
53:28 interesting twist that would buy us
53:30 time, but our test had failed so far.
53:31 "You got any offers up your slee?" he
53:33 asked. I racked my brain, then
53:36 remembered the $5 VIP tanning pass.
53:38 "That might just work. Why don't we
53:39 offer something super cheap to get
53:41 leads, but when they come in, make them
53:43 a crazy offer that costs more, but is
53:45 100 times better? They can still take
53:46 the cheap thing, but we'll just explain
53:48 that they'll get way better results with
53:50 the extra accountability, nutrition,
53:51 etc., "Yeah, I can run something like
53:54 that," he said a few weeks later. "Alex,
53:56 I think we cracked it." "Awesome. Walk
53:59 me through it." So, we give two options.
54:01 The first option is free. I give one
54:03 session per week. The second option is
54:06 an ultimate version for $3.99. It comes
54:07 with unlimited sessions, one-on-one
54:08 coaching, more personalized stuff, and a
54:10 guarantee they'll get results or they
54:12 repeat the program for free. Oh man,
54:13 that guarantee is solid. What's the take
54:16 rate? We got 70 to 80% taking the 3.99
54:18 option. We're crushing it. Awesome.
54:20 Let's scale it. John was a brilliant
54:22 salesman and patient teacher. His
54:24 philosophy of giving customers what they
54:25 want now so you can give them what they
54:27 need later shaped many ways I do
54:29 business. He also inspired the offer
54:30 that saved my gyms. But the most
54:32 valuable thing I learned from him was
54:34 this. You have to know what gets results
54:36 for customers better than they do. This
54:37 makes our premium offer the clear
54:40 solution. And making our premium the
54:41 clear solution is what decoy offers are
54:45 all about. Description. Decoy offers
54:47 advertise something free or discounted.
54:49 Then when the lead asks to learn more,
54:51 you also present a more valuable premium
54:53 offer. The premium offer provides more
54:55 features, benefits, bonuses, guarantees,
54:57 and so on. By putting your decoy offers
54:59 and premium offer side by side, leads
55:00 can see how much more valuable your
55:03 premium offer is. I like decoy offers
55:05 because they get more customers overall.
55:06 They either take the decoy version or
55:08 the premium version. If they take the
55:10 premium version, great. If they take the
55:12 decoy, also great. It gives you time to
55:14 upgrade them rather than just losing
55:16 them immediately. But either way, you
55:17 can close everyone. This makes it cheap
55:19 and profitable. Get new customers and
55:21 any business can do it. Here are the
55:24 steps to make a decoy offer. Advertise a
55:25 lesser, smaller, or simpler version of
55:29 your premium offer as a decoy. Then when
55:31 leads engage, offer both options, but
55:33 emphasize the premium one. Examples:
55:35 Examples:
55:37 lemonade stand offer, physical products.
55:39 Attraction offer, free week of lemonade,
55:42 or $1 week of lemonade. That would be
55:46 the attraction offer. Decoy option, you
55:48 can have this water and powdered lemon
55:52 and corn syrup. or premium option, the
55:54 organic, all-natural, vegan, gluten-free
55:56 imported Italian lemons, which are cold
55:57 pressed and shipped straight to your
55:58 door. You'll never need to waste time
56:00 coming to the store again. It'll have
56:02 you feeling like a Labrador puppy
56:03 chasing butterflies all day. It also
56:05 comes with other flavors like our
56:07 sparkling rose water lemonade, float
56:09 tank center, example, service,
56:11 attraction offer, free 6 week stress
56:15 release, or a $6e stress release. Decoy option,
56:17 option,
56:18 one float per month with at home
56:21 do-it-yourself stress release exercises.
56:23 Premium option, two times per week
56:25 floats for six weeks, one-on-one
56:26 consulting, journal, sleep routine,
56:29 satisfaction guaranteed,
56:31 gym offer, local business, attraction
56:35 offer, free 21-day transformation or $21
56:38 21-day transformation, decoy option when
56:40 they walk in the door, workouts done in
56:43 a school.com group once a day, a general
56:46 nutrition plan, can watch recordings, no
56:50 support, no guarantee. Premium option,
56:52 unlimited workouts, a personalized
56:53 nutrition plan, one-on-one
56:54 accountability, results guarantee, or
56:58 you get another 21 days free.
57:00 Important notes. How to make your decoy
57:03 offer. Offer fewer components, older
57:05 models, or less personalized versions of
57:07 your premium offer. Also, remove any
57:09 guarantees. Your attraction offer only
57:11 has to get leads to engage, nothing
57:13 more. Advertise benefits, not the
57:14 features. We want to sell them on the
57:16 dream outcome. We advertise a
57:18 transformation in 21 days, not workouts
57:20 and meal plans. Leads get specific
57:21 product details in the sales
57:23 presentation, not the advertising.
57:25 Private jets and rowboats can both get
57:27 you to an exotic island, but the premium
57:29 option is certainly more enjoyable.
57:31 You can advertise discounts in four
57:33 ways. So, let's say you have a year-long
57:35 thing that costs $100 a month. If you
57:37 wanted to have them pay $900 for the
57:40 year, you could say, one, percentage
57:42 off, 25% off. Two, an absolute amount
57:46 off, $300 off. three, a free portion, so
57:48 three months free. Or four, total
57:50 package, one year for $900, but you
57:52 cross out $1,200 above it. They all mean
57:54 the same thing. It's worth testing to
57:56 see which one converts better in your
57:59 market. Make the contrast huge. The
58:01 value of the premium option comes from
58:03 the huge difference between it with the
58:05 decoy option. So, make the decoy option
58:07 as basic as reasonable. Then, make the
58:09 premium option as awesome as possible.
58:11 The bigger the contrast, the better the
58:13 deal. The more customers will take it.
58:15 Discount offers have higher show up
58:17 rates than free offers. In my
58:19 experience, if you run a free attraction
58:20 offer, you'll get more leads. If you run
58:22 a discount offer, you'll get fewer
58:23 leads, but a higher percentage will show
58:25 up. So, if you have low show up rates
58:26 for appointments, try a discount offer
58:28 instead. This is especially important
58:29 for businesses where you have high cost
58:31 of someone not showing up. Think
58:34 doctors, lawyers, dentists, etc. If
58:36 possible, present the premium offer
58:38 first. In a perfect world, they take the
58:40 premium offer immediately. The decoy
58:42 offer stays in your back pocket. If they
58:43 come in specifically asking for the
58:47 decoy option upfront, then get them to
58:49 give you permission to sell to them. If
58:51 they ask to hear about your decoy, you
58:53 are legally required to present it. Or
58:54 if you prefer to present it first,
58:57 here's how I like to do it. I ask them
58:59 this simple question. Are you here for
59:01 free stuff or lasting results? And as
59:02 soon as they say results, which most
59:04 people do, skip to your premium offer.
59:06 If they say free stuff, present the
59:08 decoy offer. Then immediately contrast
59:10 it with your premium offer. Then only
59:13 after presenting both ask them which do
59:14 you think will get you to your goal
59:16 faster or which would you prefer the
59:19 why y why y why y why y why y why y why
59:21 y why y more valuable thing benefit one
59:23 two three at this point they'll have to
59:24 say the premium offer then you can move
59:26 forward in the sale mutually agreeing
59:28 it's the best for them when making your
59:30 premium offer get excited about it
59:32 present it as superior to the decoy
59:34 offer because it is and assuming it is
59:37 how it fits the customer better
59:38 excitement motivates people to take the
59:39 option that will get them the best
59:41 value. From a selling perspective, you
59:42 want to talk to the lead as if you
59:44 already know they will accept your
59:45 offer. Many sales people refer to this
59:48 as an assumed close. You operate from a
59:49 position of this is what everyone does.
59:51 This is just a formality. Let me get
59:52 your ID and credit card so you can get
59:54 your value. No hype, just friendly
59:56 disposition, almost bored of how
59:58 regularly people buy.
60:00 Surprise, benefit optional. To take this a step further, if someone takes the
60:02 a step further, if someone takes the decoy option, you can choose to surprise
60:04 decoy option, you can choose to surprise them with a few or low to zero cost
60:06 them with a few or low to zero cost features from your premium offer. Just
60:08 features from your premium offer. Just say something like, "Hey, I'm going to
60:09 say something like, "Hey, I'm going to throw this in even though it's part of
60:11 throw this in even though it's part of our premium offer just because I want
60:12 our premium offer just because I want you to get great results. This builds
60:14 you to get great results. This builds goodwill, overdelivers, and increases
60:15 goodwill, overdelivers, and increases the chances they take your upsells
60:17 the chances they take your upsells later. Remember, they're still leads."
60:19 later. Remember, they're still leads." Summary points.
60:21 Summary points. Decoy offers advertise something free or
60:23 Decoy offers advertise something free or discounted. Then, when leads ask to
60:25 discounted. Then, when leads ask to learn more, you also present a more
60:26 learn more, you also present a more valuable premium offer. Two, make the
60:29 valuable premium offer. Two, make the premium offer far more valuable than the
60:30 premium offer far more valuable than the decoy option by adding more features,
60:32 decoy option by adding more features, benefits, bonuses, and guarantees. Strip
60:34 benefits, bonuses, and guarantees. Strip down your decoy offer as much as
60:36 down your decoy offer as much as reasonable. When leads ask about your
60:38 reasonable. When leads ask about your decoy offer, present your premium offer
60:39 decoy offer, present your premium offer right next to it. Ask, "Are you here for
60:41 right next to it. Ask, "Are you here for free stuff or lasting results for
60:43 free stuff or lasting results for permission to offer the premium offer
60:45 permission to offer the premium offer first?" You can still make money from
60:47 first?" You can still make money from leads who pick the decoy option. You'll
60:48 leads who pick the decoy option. You'll learn the best way to deliver your decoy
60:50 learn the best way to deliver your decoy product and maximize the upsells from
60:52 product and maximize the upsells from it. Expect to make money fast, and if
60:54 it. Expect to make money fast, and if you're not, then make the contrast
60:55 you're not, then make the contrast between offers larger. Free gift, no
60:58 between offers larger. Free gift, no opt-in required. Decoy offers training.
61:00 opt-in required. Decoy offers training. Decoy offers one of the most flexible
61:02 Decoy offers one of the most flexible attraction offers in any business. You
61:04 attraction offers in any business. You just need to know more about your
61:05 just need to know more about your customers problems than they do. They're
61:06 customers problems than they do. They're also easy to train people to sell. I've
61:08 also easy to train people to sell. I've run them in a number of different
61:09 run them in a number of different industries. If you want to nerd out on
61:11 industries. If you want to nerd out on the topic, I made a full video breakdown
61:13 the topic, I made a full video breakdown for you. You can check it out at
61:14 for you. You can check it out at acquisition.com/training/money.
61:16 acquisition.com/training/money. Buy X, get Y free. Buy one puppy, get
61:19 Buy X, get Y free. Buy one puppy, get two puppies free. Downtown Nashville
61:22 two puppies free. Downtown Nashville 2020. Bars and shops at this popular
61:26 2020. Bars and shops at this popular tourist destination went in and out of
61:27 tourist destination went in and out of business all the time, but one store
61:29 business all the time, but one store reign supreme. Boot Factory. Their neon
61:31 reign supreme. Boot Factory. Their neon sign cut through the visual clutter of
61:33 sign cut through the visual clutter of the street like a hot knife through
61:34 the street like a hot knife through butter. A cowboy boot bigger than my car
61:36 butter. A cowboy boot bigger than my car directed me to the front door. There was
61:38 directed me to the front door. There was no mistaking what they wanted me to do.
61:40 no mistaking what they wanted me to do. So, of course, I obeyed. And as I got
61:42 So, of course, I obeyed. And as I got closer, I could make out their offer.
61:45 closer, I could make out their offer. Buy one pair, get two pair free.
61:48 Buy one pair, get two pair free. A decade passed since I'd been to
61:50 A decade passed since I'd been to Nashville. But I remember the sign and
61:52 Nashville. But I remember the sign and buy one get two free offer like it was
61:54 buy one get two free offer like it was yesterday. As a kid on bar crawls, I
61:56 yesterday. As a kid on bar crawls, I thought the offer was dumb. How could
61:58 thought the offer was dumb. How could they give away so much stuff and stay in
61:59 they give away so much stuff and stay in business? But now, with some offer
62:01 business? But now, with some offer making under my belt, I could appreciate
62:02 making under my belt, I could appreciate it. I went straight to the men's section
62:04 it. I went straight to the men's section and grabbed a boot. Curious, the price
62:07 and grabbed a boot. Curious, the price was marked down twice to a final offer
62:10 was marked down twice to a final offer of $600 for the pair, but these were
62:12 of $600 for the pair, but these were normal looking boots. The young me would
62:14 normal looking boots. The young me would have scoffed, but the business me
62:16 have scoffed, but the business me realized that I had missed something.
62:17 realized that I had missed something. The store got much bigger since the last
62:19 The store got much bigger since the last time I saw it, so the offer clearly
62:20 time I saw it, so the offer clearly worked. Then it clicked. They charged
62:23 worked. Then it clicked. They charged three times the price for a single pair
62:25 three times the price for a single pair of boots because they came with two more
62:26 of boots because they came with two more pairs. So rather than saying, "Come to
62:28 pairs. So rather than saying, "Come to Boot Factory and buy boots at a fair
62:30 Boot Factory and buy boots at a fair price," they managed to create a free
62:31 price," they managed to create a free offer. Even in the few minutes I checked
62:33 offer. Even in the few minutes I checked out the store, bachelorettes filled in
62:35 out the store, bachelorettes filled in getting matching pairs of boots. And
62:36 getting matching pairs of boots. And since the boot factory sat in the middle
62:38 since the boot factory sat in the middle of a street full of cowboy themed bars,
62:39 of a street full of cowboy themed bars, this happened a lot. It was brilliant.
62:43 this happened a lot. It was brilliant. Description in buy X get Y free offers.
62:45 Description in buy X get Y free offers. When customers buy something, they get
62:47 When customers buy something, they get other stuff free. The more free stuff
62:48 other stuff free. The more free stuff they get, and the higher its value, the
62:50 they get, and the higher its value, the better it works. Free offers get way
62:52 better it works. Free offers get way more attention than discount offers. But
62:54 more attention than discount offers. But if you have one thing to sell and you
62:56 if you have one thing to sell and you give it away, you go hungry. In
62:58 give it away, you go hungry. In situations like this, businesses tend to
62:59 situations like this, businesses tend to lean on discounts. They run sales
63:01 lean on discounts. They run sales relying on holidays, seasonal changes,
63:03 relying on holidays, seasonal changes, or whatever as reasons to temporarily
63:05 or whatever as reasons to temporarily lower their prices and get more
63:06 lower their prices and get more customers. But by selling more than one
63:08 customers. But by selling more than one thing at once, you can turn discount
63:10 thing at once, you can turn discount offers into even stronger free offers.
63:12 offers into even stronger free offers. When you have more than one item, you
63:14 When you have more than one item, you can make the discount value large enough
63:15 can make the discount value large enough that it covers the price of the more
63:17 that it covers the price of the more stuff. For example, I could sell three
63:19 stuff. For example, I could sell three t-shirts for $10 each for a total of
63:21 t-shirts for $10 each for a total of $30. Or I could sell one t-shirt for $30
63:24 $30. Or I could sell one t-shirt for $30 and give away two for free. It's the
63:26 and give away two for free. It's the same price, but way more free stuff.
63:30 same price, but way more free stuff. And if I wanted to offer a discount
63:32 And if I wanted to offer a discount rather than only reframe the price, I
63:34 rather than only reframe the price, I could do this. I could sell three
63:36 could do this. I could sell three t-shirts for $667
63:38 t-shirts for $667 each for a total of $20, which is a 33%
63:41 each for a total of $20, which is a 33% discount. Or keeping the same discount,
63:43 discount. Or keeping the same discount, I could sell one shirt for 20 and give
63:45 I could sell one shirt for 20 and give away two free. It's the same price, but
63:47 away two free. It's the same price, but way more free stuff. Again,
63:50 way more free stuff. Again, Boot Factory took the first option. They
63:52 Boot Factory took the first option. They tripled the price of one pair of boots
63:53 tripled the price of one pair of boots and added value in more boots. And an
63:56 and added value in more boots. And an expensive pair of boots with two free
63:58 expensive pair of boots with two free gets Boot Factory more customers than
64:00 gets Boot Factory more customers than selling one pair at a fair price. Plus,
64:02 selling one pair at a fair price. Plus, if you can include free, then it
64:04 if you can include free, then it attracts even more customers.
64:06 attracts even more customers. Examples:
64:08 Examples: Buy one, get two free physical products
64:10 Buy one, get two free physical products offer, the boot factory offer. One pair
64:12 offer, the boot factory offer. One pair of boots, $200. Buy X, get Y free offer.
64:15 of boots, $200. Buy X, get Y free offer. Buy one for $600, get two pairs free.
64:18 Buy one for $600, get two pairs free. End result, they still buy three pairs
64:20 End result, they still buy three pairs of $200 boots for a total of $600.
64:22 of $200 boots for a total of $600. Three versions. Now, here's three
64:25 Three versions. Now, here's three different versions for an 18 months of
64:26 different versions for an 18 months of services agreement, aka three pairs of
64:29 services agreement, aka three pairs of boots. Here's a good version. Buy 12
64:31 boots. Here's a good version. Buy 12 months, get six months free, $1,800.
64:34 months, get six months free, $1,800. Here's a better version. Buy 6 months,
64:36 Here's a better version. Buy 6 months, get 6 months free, $1,800. Here's the
64:38 get 6 months free, $1,800. Here's the best version. Buy 6 months, get 12
64:40 best version. Buy 6 months, get 12 months free, $1,800. Everyone pays the
64:43 months free, $1,800. Everyone pays the same price for the same amount of
64:44 same price for the same amount of service. But the third option is the
64:45 service. But the third option is the most compelling. Hint, it has the most
64:47 most compelling. Hint, it has the most free stuff. Important notes. Buy X get Y
64:51 free stuff. Important notes. Buy X get Y free gets people to buy more stuff and
64:53 free gets people to buy more stuff and provides more value. It used to take a
64:55 provides more value. It used to take a whole year for some of my service
64:57 whole year for some of my service businesses to make their money. But buy
65:00 businesses to make their money. But buy six get six offer attracted far more
65:03 six get six offer attracted far more customers than the original
65:04 customers than the original month-to-month offer. Even better, they
65:06 month-to-month offer. Even better, they got paid up front for it. Raise prices
65:09 got paid up front for it. Raise prices before giving away free stuff to
65:11 before giving away free stuff to preserve profits. If you use this to
65:14 preserve profits. If you use this to attract customers, it will work. And
65:15 attract customers, it will work. And since it will work, you need to make
65:17 since it will work, you need to make money. So, permanently raise prices to
65:19 money. So, permanently raise prices to accommodate the discount. Don't lie.
65:21 accommodate the discount. Don't lie. Actually raise your prices since this is
65:24 Actually raise your prices since this is what all new customers will be coming in
65:25 what all new customers will be coming in on. Then it makes sense to change it for
65:27 on. Then it makes sense to change it for a season at least. Plus, plenty of
65:30 a season at least. Plus, plenty of people might still take your double
65:31 people might still take your double prices all cart and break your limiting
65:34 prices all cart and break your limiting beliefs around prices. You're welcome.
65:36 beliefs around prices. You're welcome. Buy X get Y free works better if you
65:38 Buy X get Y free works better if you have more free stuff than paid stuff.
65:40 have more free stuff than paid stuff. For example, buy 10 get two free is not
65:43 For example, buy 10 get two free is not as strong as buy 2 get 10 free. This
65:46 as strong as buy 2 get 10 free. This seems obvious, but again, people don't
65:48 seems obvious, but again, people don't do it. To make it work better, give more
65:50 do it. To make it work better, give more free stuff than you ask people to buy.
65:52 free stuff than you ask people to buy. Just play with the pricing until it
65:53 Just play with the pricing until it makes sense for you. Buy one, get two
65:55 makes sense for you. Buy one, get two instead of buy two, get one. The free
65:57 instead of buy two, get one. The free things can be different from the paid
65:59 things can be different from the paid things. When people first start doing
66:01 things. When people first start doing offers like this, they match the free
66:03 offers like this, they match the free and paid stuff, but you can mix and
66:05 and paid stuff, but you can mix and match whatever you want. Just make sure
66:06 match whatever you want. Just make sure the value of different free stuff still
66:09 the value of different free stuff still makes the offer compelling. Example,
66:11 makes the offer compelling. Example, let's say socks have a $10 value. If
66:14 let's say socks have a $10 value. If they buy one shirt for $10 but get $20
66:17 they buy one shirt for $10 but get $20 of free socks, it may seem like a better
66:19 of free socks, it may seem like a better deal.
66:21 deal. More cheaper things can work better than
66:23 More cheaper things can work better than fewer free expensive things. Revisiting
66:25 fewer free expensive things. Revisiting the t-shirt example, let's say I could
66:28 the t-shirt example, let's say I could only afford to give away one shirt for
66:30 only afford to give away one shirt for free, but for the same cost, I could
66:32 free, but for the same cost, I could give them three pairs of socks. I'd
66:35 give them three pairs of socks. I'd probably test buy one shirt, get one
66:38 probably test buy one shirt, get one shirt free against buy one shirt, get
66:40 shirt free against buy one shirt, get three pairs of socks for free. Socks
66:43 three pairs of socks for free. Socks cost less than a shirt, but people still
66:45 cost less than a shirt, but people still see buy one thing, get three things
66:48 see buy one thing, get three things free. Sometimes more cheaper things
66:50 free. Sometimes more cheaper things works better than fewer expensive
66:52 works better than fewer expensive things. Rather than offer a 33%
66:54 things. Rather than offer a 33% discount, try buy one get two free. Even
66:57 discount, try buy one get two free. Even though it can be structured to
66:59 though it can be structured to accomplish the same thing, free drives
67:00 accomplish the same thing, free drives more interest than a discount. More
67:02 more interest than a discount. More people know the value of free than the
67:04 people know the value of free than the value of one shirt. For example, rather
67:06 value of one shirt. For example, rather than selling $10 shirts for $6.67 67
67:10 than selling $10 shirts for $6.67 67 cents each, 33% off. You may get more
67:12 cents each, 33% off. You may get more interest and make more money by offering
67:15 interest and make more money by offering buy one shirt for $20, get two free.
67:17 buy one shirt for $20, get two free. Just test it. Do not make offers like
67:20 Just test it. Do not make offers like this if you can't manage money. While
67:22 this if you can't manage money. While buy X get Y free offers create massive
67:24 buy X get Y free offers create massive cash flow for a business. You need to
67:26 cash flow for a business. You need to deliver. So if you get a whole year's
67:28 deliver. So if you get a whole year's worth of payments in a month, make sure
67:30 worth of payments in a month, make sure you can deliver for the whole year.
67:31 you can deliver for the whole year. Budget the correct amount of money to
67:33 Budget the correct amount of money to service your customers for the duration
67:34 service your customers for the duration of your agreement. Don't be a goon and
67:36 of your agreement. Don't be a goon and buy yourself a house with the cash meant
67:38 buy yourself a house with the cash meant for servicing your customers. Selling
67:40 for servicing your customers. Selling stuff you can't deliver on breaks the
67:41 stuff you can't deliver on breaks the law and ruins your reputation. Deliver
67:43 law and ruins your reputation. Deliver on your promises.
67:46 on your promises. Make this offer to existing customers
67:48 Make this offer to existing customers for fast cash. If you have a recurring
67:50 for fast cash. If you have a recurring business already and need fast cash, you
67:52 business already and need fast cash, you can make this offer to existing
67:53 can make this offer to existing customers. Many will happily buy 10 and
67:56 customers. Many will happily buy 10 and get two free at their current price.
67:58 get two free at their current price. Just cap how many can take the offer to
68:00 Just cap how many can take the offer to 10% of your customer base. This gives
68:02 10% of your customer base. This gives you a good cash pop and keeps recurring
68:04 you a good cash pop and keeps recurring cash flow healthy. Even if customers
68:06 cash flow healthy. Even if customers prepay, then you can still upsell them
68:09 prepay, then you can still upsell them different stuff. Now, a lot of people
68:11 different stuff. Now, a lot of people don't want to make more offers to
68:13 don't want to make more offers to customers who prepay for stuff. This is
68:15 customers who prepay for stuff. This is a mistake. Speaking from experience,
68:17 a mistake. Speaking from experience, these are the people who spend the most
68:18 these are the people who spend the most money. Give them other offers to buy,
68:20 money. Give them other offers to buy, and they will. After all, they may have
68:23 and they will. After all, they may have prepaid months ago. Their wallets have
68:25 prepaid months ago. Their wallets have been refreshed with new money that is
68:27 been refreshed with new money that is dying to make it in your pocket. Don't
68:29 dying to make it in your pocket. Don't get in the way.
68:31 get in the way. If customers only buy once, make the buy
68:34 If customers only buy once, make the buy as big as you can. The Boot Factory in
68:36 as big as you can. The Boot Factory in my story catered to tourists that want
68:38 my story catered to tourists that want to fit in at the local cowboy bars. This
68:40 to fit in at the local cowboy bars. This means most of their customers made one
68:42 means most of their customers made one purchase ever. For that reason, it makes
68:44 purchase ever. For that reason, it makes sense to make that purchase as large as
68:46 sense to make that purchase as large as possible. Just provide the value to back
68:48 possible. Just provide the value to back it up. If you only have one shot, you
68:50 it up. If you only have one shot, you might as well make it count.
68:53 might as well make it count. Summary points. In buy X, get Y free
68:56 Summary points. In buy X, get Y free offers. When customers buy something,
68:57 offers. When customers buy something, they get other stuff free. Buy X, get Y
69:00 they get other stuff free. Buy X, get Y free works for stuff that makes sense to
69:02 free works for stuff that makes sense to buy more of or get longer access to.
69:04 buy more of or get longer access to. Basic buy X, get Y free offers reframe
69:07 Basic buy X, get Y free offers reframe pricing. Buy one gets two free costs the
69:09 pricing. Buy one gets two free costs the same as buying three, except customers
69:11 same as buying three, except customers see the free offer as more valuable.
69:13 see the free offer as more valuable. Just look at the 18 months of service
69:15 Just look at the 18 months of service example.
69:16 example. Always try to give more free things than
69:18 Always try to give more free things than paid things. You can pair different free
69:20 paid things. You can pair different free things with your paid things. Some buy X
69:23 things with your paid things. Some buy X get Y free offers discount the price
69:25 get Y free offers discount the price where buying more things costs less per
69:27 where buying more things costs less per thing than buying the same number of
69:29 thing than buying the same number of things one at a time.
69:32 things one at a time. Buy X get Y free can lengthen the amount
69:34 Buy X get Y free can lengthen the amount of time customers stay. If normal
69:36 of time customers stay. If normal customers stay for 3 months then buy two
69:39 customers stay for 3 months then buy two get two free will keep them for 4 months
69:41 get two free will keep them for 4 months or whatever you set it at. This gives
69:43 or whatever you set it at. This gives you more opportunities to make more
69:44 you more opportunities to make more offers and provide more value.
69:47 offers and provide more value. If you use buy X get Y free to generate
69:50 If you use buy X get Y free to generate lots of cash fast. Make sure you manage
69:52 lots of cash fast. Make sure you manage it well and deliver on your promises. If
69:54 it well and deliver on your promises. If you need fast cash, you can make this
69:56 you need fast cash, you can make this offer to existing recurring customers.
69:58 offer to existing recurring customers. Just cap how many you sell to so you
70:00 Just cap how many you sell to so you still have cash flow. Keep selling
70:02 still have cash flow. Keep selling customers who prepay long durations.
70:04 customers who prepay long durations. They are the most likely customers to
70:05 They are the most likely customers to buy again. Free gift. Buy X get Y free
70:09 buy again. Free gift. Buy X get Y free video course. Buy X get Y free gets lots
70:12 video course. Buy X get Y free gets lots of cash and lots of customers. You just
70:14 of cash and lots of customers. You just need to know your math. I made a free
70:16 need to know your math. I made a free video for you giving you a few more
70:17 video for you giving you a few more creative ways to use it. You can watch
70:19 creative ways to use it. You can watch the video for free at
70:20 the video for free at acquisition.com/training/money.
70:27 Pay less now or pay more later. Time is money. Benjamin Franklin, June 2016. A
70:31 money. Benjamin Franklin, June 2016. A headline caught my attention. Double
70:33 headline caught my attention. Double your reading speed in 3 hours or it's
70:35 your reading speed in 3 hours or it's free. I opened and scanned the text.
70:38 free. I opened and scanned the text. Inside, the world's fastest reader
70:40 Inside, the world's fastest reader offered a free training to double my
70:41 offered a free training to double my reading speed in 3 hours. So, I
70:43 reading speed in 3 hours. So, I registered. Why not? The registration
70:45 registered. Why not? The registration page said, "You can put your credit card
70:46 page said, "You can put your credit card down for $0 and get build $297 tomorrow.
70:50 down for $0 and get build $297 tomorrow. And if your reading speed doesn't
70:51 And if your reading speed doesn't double, just email us before then and
70:53 double, just email us before then and we'll cancel the charge, but you must
70:54 we'll cancel the charge, but you must attend in order to be eligible. Or you
70:57 attend in order to be eligible. Or you can just pay $97 right now and as a free
70:59 can just pay $97 right now and as a free bonus, get the recordings, which won't
71:01 bonus, get the recordings, which won't be for sale anywhere else."
71:03 be for sale anywhere else." I decided on the first option. I wanted
71:05 I decided on the first option. I wanted to see if my reading speed doubled
71:06 to see if my reading speed doubled before paying anything. The whole
71:08 before paying anything. The whole training, I expected him to sell me more
71:10 training, I expected him to sell me more stuff, but he simply provided value.
71:12 stuff, but he simply provided value. After two hours using his tactics, my
71:13 After two hours using his tactics, my reading speed doubled. Impressive. The
71:16 reading speed doubled. Impressive. The training had been true to the promise.
71:17 training had been true to the promise. He earned his $297. After that, he
71:20 He earned his $297. After that, he talked about how I could learn to read
71:22 talked about how I could learn to read even faster with his 8week training
71:23 even faster with his 8week training program. I was satisfied with my
71:25 program. I was satisfied with my results, so I chose not to stake the
71:26 results, so I chose not to stake the upsell. He taught me a skill I still use
71:28 upsell. He taught me a skill I still use to this day. But the true value came
71:30 to this day. But the true value came from learning a brand new attraction
71:31 from learning a brand new attraction offer. Description. In pay less now or
71:34 offer. Description. In pay less now or pay more later, you give people a choice
71:36 pay more later, you give people a choice to pay full price later or pay a
71:38 to pay full price later or pay a discounted price now. This play works so
71:40 discounted price now. This play works so well because remove all risk from the
71:42 well because remove all risk from the customer. They pay later and only if
71:44 customer. They pay later and only if they like it. So, it combines the
71:46 they like it. So, it combines the benefits of a delayed payment and a
71:47 benefits of a delayed payment and a satisfaction guaranteed. Anyone can sell
71:49 satisfaction guaranteed. Anyone can sell this. Almost anyone will agree to pay
71:51 this. Almost anyone will agree to pay later if they're satisfied, but once
71:53 later if they're satisfied, but once they agree to pay later, you can get
71:55 they agree to pay later, you can get them to pay now with hefty discounts and
71:57 them to pay now with hefty discounts and valuable bonuses. The pay later option
72:00 valuable bonuses. The pay later option allows you to advertise free since they
72:01 allows you to advertise free since they can choose to pay or not. This gets lots
72:03 can choose to pay or not. This gets lots of engaged leads. But this free offer
72:06 of engaged leads. But this free offer has an added benefit. we get their card
72:08 has an added benefit. we get their card on file. So, if they choose this option
72:10 on file. So, if they choose this option and hate the product, then they can
72:12 and hate the product, then they can cancel at any time before the charge
72:13 cancel at any time before the charge goes through. If they accept the pay
72:15 goes through. If they accept the pay later option, we make a follow-up offer
72:17 later option, we make a follow-up offer to pay now. And pay now options provide
72:19 to pay now. And pay now options provide a 20 to 50% discount and greater
72:21 a 20 to 50% discount and greater bonuses. And since we already have their
72:23 bonuses. And since we already have their card on file, make it easy for them to
72:25 card on file, make it easy for them to pay. Whether they choose to pay now or
72:27 pay. Whether they choose to pay now or pay later, you've got customers and
72:29 pay later, you've got customers and likely some profit. But to take full
72:31 likely some profit. But to take full advantage of this offer, you want
72:32 advantage of this offer, you want something else to sell. So, have
72:34 something else to sell. So, have something more, better, or newer to
72:35 something more, better, or newer to offer when the time is right. And don't
72:37 offer when the time is right. And don't worry, we'll go deep on upsells in the
72:39 worry, we'll go deep on upsells in the next section.
72:41 next section. Examples: Find your first real estate
72:43 Examples: Find your first real estate deal. Free 3-day workshop. Pay later
72:46 deal. Free 3-day workshop. Pay later option. $0 for 3-day workshop. Get build
72:49 option. $0 for 3-day workshop. Get build $500 at the end unless you cancel. Pay
72:51 $500 at the end unless you cancel. Pay now option. $299 for 3-day workshop plus
72:55 now option. $299 for 3-day workshop plus recordings. Oneonone call with certified
72:57 recordings. Oneonone call with certified distress property expert plus printed
72:59 distress property expert plus printed materials to use delivered at the
73:01 materials to use delivered at the workshop.
73:02 workshop. Upsell offer from the workshop. $30,000
73:07 Upsell offer from the workshop. $30,000 take you through every other step of
73:08 take you through every other step of closing your first deal within six
73:10 closing your first deal within six months, plus legal templates, advisors
73:12 months, plus legal templates, advisors to vet the investment, inspection
73:14 to vet the investment, inspection checklist, etc. Local business service,
73:17 checklist, etc. Local business service, trim your hedges for free, pay later
73:19 trim your hedges for free, pay later option, $0 lawn cut plus hedges, then
73:22 option, $0 lawn cut plus hedges, then 600 bucks after if satisfied. Pay now
73:25 600 bucks after if satisfied. Pay now option, $369
73:28 option, $369 lawn cut and hedges and lawn treatment.
73:31 lawn cut and hedges and lawn treatment. Upsell $199 per month lawn care
73:34 Upsell $199 per month lawn care services. The rep comes to the house,
73:36 services. The rep comes to the house, makes the epsimate, and offers both
73:38 makes the epsimate, and offers both options. Then upsells after the work is
73:40 options. Then upsells after the work is done.
73:42 done. Physical products 14-day clothing trial.
73:45 Physical products 14-day clothing trial. Pay later, $0 now, get it, then get
73:48 Pay later, $0 now, get it, then get build 149 in 14 days. Pay now, $97 for
73:52 build 149 in 14 days. Pay now, $97 for the closing, plus an accessory that goes
73:53 the closing, plus an accessory that goes with it. Upsell. The dress comes with an
73:56 with it. Upsell. The dress comes with an offer for a monthly subscription to more
73:58 offer for a monthly subscription to more clothes like this. Customers must return
74:00 clothes like this. Customers must return the product in like new condition before
74:02 the product in like new condition before billing to qualify for the guarantee.
74:04 billing to qualify for the guarantee. Important notes. Promise a clear yes no
74:08 Important notes. Promise a clear yes no result. First, make your promise a clear
74:10 result. First, make your promise a clear yes or no result. Second, make sure you
74:13 yes or no result. Second, make sure you can deliver on it within your time
74:14 can deliver on it within your time frame. If you don't, they will ask not
74:16 frame. If you don't, they will ask not to be built. Duh. For example, if you
74:18 to be built. Duh. For example, if you promise to decrease someone's shoulder
74:19 promise to decrease someone's shoulder pain, have them rate their pain 1 to 10
74:21 pain, have them rate their pain 1 to 10 before you do your magic. Then ask them
74:23 before you do your magic. Then ask them to rate it after. If it went down,
74:24 to rate it after. If it went down, you've succeeded and you can sell them
74:25 you've succeeded and you can sell them something else. Keep the promise simple,
74:27 something else. Keep the promise simple, clear, and measurable. This avoids
74:29 clear, and measurable. This avoids unnecessary cancellations.
74:31 unnecessary cancellations. Make a conditional satisfaction
74:33 Make a conditional satisfaction guarantee. People can only cancel the
74:35 guarantee. People can only cancel the billing if they qualify. For example, I
74:37 billing if they qualify. For example, I had to show up to the reading training
74:39 had to show up to the reading training to qualify to cancel the charge. After
74:41 to qualify to cancel the charge. After all, they can't say that you suck if
74:43 all, they can't say that you suck if they never tried it. So, be sure to
74:45 they never tried it. So, be sure to track the conditions necessary to
74:46 track the conditions necessary to qualify. Think attendance, showing up to
74:48 qualify. Think attendance, showing up to an appointment, turning in data, etc.
74:50 an appointment, turning in data, etc. Make the criteria what people do to get
74:52 Make the criteria what people do to get the most value out of the product.
74:53 the most value out of the product. Win-win.
74:55 Win-win. Bonuses for your pay now option. I hate
74:57 Bonuses for your pay now option. I hate when people repeat content and call it
74:59 when people repeat content and call it new. So, I didn't want to be like that.
75:01 new. So, I didn't want to be like that. I dedicated an entire chapter and $100
75:03 I dedicated an entire chapter and $100 million offers bonuses.
75:06 million offers bonuses. You can grab a copy of that book or
75:08 You can grab a copy of that book or watch the video training on my site for
75:09 watch the video training on my site for free at acquisition.com/training/offers.
75:14 Optimizing your pay now and pay later offer. If too many people take your pay
75:16 offer. If too many people take your pay later option, discount the pay now
75:18 later option, discount the pay now option more. Add better bonuses or both.
75:21 option more. Add better bonuses or both. If too many people take your pay now
75:22 If too many people take your pay now option, do the opposite. If more than
75:25 option, do the opposite. If more than 10% of pay later people cancel their
75:27 10% of pay later people cancel their payment, you promise too much, the
75:29 payment, you promise too much, the guaranteed conditions are too low, or
75:30 guaranteed conditions are too low, or the price is too high. Note, no matter
75:33 the price is too high. Note, no matter how well you deliver, some people will
75:35 how well you deliver, some people will cancel the payment, and that's okay.
75:37 cancel the payment, and that's okay. Factored into your cost of doing
75:38 Factored into your cost of doing business and keep living your life. This
75:40 business and keep living your life. This works for recurring revenue businesses,
75:42 works for recurring revenue businesses, too. You just give them the option to
75:44 too. You just give them the option to pay a higher ongoing rate 30 days later,
75:46 pay a higher ongoing rate 30 days later, or they pay less today and keep the
75:48 or they pay less today and keep the lower rate for good. Plus, add in some
75:50 lower rate for good. Plus, add in some bonuses. C section six continuity
75:54 bonuses. C section six continuity chapter onetime bonuses for more
75:56 chapter onetime bonuses for more details. Pro tip. If you run events,
75:59 details. Pro tip. If you run events, workshops, presentations, hint at your
76:01 workshops, presentations, hint at your next offer early. If the reading guru
76:04 next offer early. If the reading guru had said, "Everyone wants to know when
76:05 had said, "Everyone wants to know when my next reading intensive starts because
76:07 my next reading intensive starts because they sell out so fast." I'll get to it
76:08 they sell out so fast." I'll get to it at the end, but please pay attention. I
76:10 at the end, but please pay attention. I want to deliver on my promise to make
76:11 want to deliver on my promise to make sure you guys double your reading speed.
76:13 sure you guys double your reading speed. By hinting about his next offer earlier,
76:15 By hinting about his next offer earlier, he would have sold more of it. Let me
76:17 he would have sold more of it. Let me explain. I used to do a lot of nutrition
76:20 explain. I used to do a lot of nutrition consultations. People would interrupt me
76:22 consultations. People would interrupt me all the time to ask about supplements.
76:23 all the time to ask about supplements. It annoyed me. So, one day I spouted,
76:25 It annoyed me. So, one day I spouted, "Everyone wants to know what supplements
76:26 "Everyone wants to know what supplements to buy. We'll get there, I promise. But
76:28 to buy. We'll get there, I promise. But please pay attention to the nutrition
76:29 please pay attention to the nutrition section. It matters more." By accident,
76:31 section. It matters more." By accident, I applied everyone bought supplements
76:33 I applied everyone bought supplements without offering them. And all the head
76:35 without offering them. And all the head nods I got showed that they actually did
76:37 nods I got showed that they actually did want more products. And all these
76:38 want more products. And all these factors got more people to buy when I
76:40 factors got more people to buy when I did offer it to them. Summary points.
76:44 did offer it to them. Summary points. Pay less now or pay more later offers
76:45 Pay less now or pay more later offers give people a choice to pay full price
76:47 give people a choice to pay full price later or pay a discounted price with
76:49 later or pay a discounted price with additional bonuses if they pay now. The
76:51 additional bonuses if they pay now. The pay later option has a delayed payment
76:53 pay later option has a delayed payment with a conditional guarantee. Have clear
76:55 with a conditional guarantee. Have clear criteria to qualify for the guarantee
76:57 criteria to qualify for the guarantee and easy ways to measure it. If you can
76:59 and easy ways to measure it. If you can align the criteria with what gets people
77:00 align the criteria with what gets people the most value from the product. The pay
77:03 the most value from the product. The pay now option offers 20 to 50% discount and
77:06 now option offers 20 to 50% discount and bonuses if they pay now. Offer customers
77:08 bonuses if they pay now. Offer customers the pay now option after they accept the
77:10 the pay now option after they accept the pay later option. If they choose pay
77:12 pay later option. If they choose pay now, they get the discount and bonuses
77:14 now, they get the discount and bonuses instead of the guarantee. Make sure you
77:17 instead of the guarantee. Make sure you promise easy to track, difficult to
77:18 promise easy to track, difficult to refute, and clear yes no results. If you
77:21 refute, and clear yes no results. If you have more than 10% cancelling, you
77:22 have more than 10% cancelling, you promise too much, the guarantee
77:24 promise too much, the guarantee conditions are too low, or the price is
77:25 conditions are too low, or the price is too high. Also, give extra attention to
77:28 too high. Also, give extra attention to those who claim they haven't received
77:29 those who claim they haven't received what was promised before the
77:30 what was promised before the cancellation deadline. It may help
77:31 cancellation deadline. It may help reverse them. Free gift. Pay less now,
77:35 reverse them. Free gift. Pay less now, pay more later training. No optin. This
77:38 pay more later training. No optin. This is one of the most creative offers I've
77:39 is one of the most creative offers I've ever seen or used. It does exceptionally
77:40 ever seen or used. It does exceptionally well with digital products and short
77:42 well with digital products and short duration services. These can be scary,
77:44 duration services. These can be scary, effective, and also feel good. It's
77:46 effective, and also feel good. It's super easy to teach salesmen as well. If
77:48 super easy to teach salesmen as well. If you want to learn more about them, I
77:49 you want to learn more about them, I made a deeper training for you at for
77:51 made a deeper training for you at for free atacquisition.com/training/money.
77:58 Free Goodwill offer. He who said money can't buy happiness hasn't given enough
78:00 can't buy happiness hasn't given enough away.
78:02 away. I became a quadriplegic in 2018 and was
78:05 I became a quadriplegic in 2018 and was living on welfare until I found your
78:06 living on welfare until I found your content and book. I made $50,000 the
78:09 content and book. I made $50,000 the following 12 months as a freelancer.
78:12 following 12 months as a freelancer. Danny W.
78:14 Danny W. I have a question for you. Would you
78:16 I have a question for you. Would you help someone you've never met if it cost
78:17 help someone you've never met if it cost you nothing, but you didn't get credit?
78:20 you nothing, but you didn't get credit? Most people do in fact judge a book by
78:22 Most people do in fact judge a book by its cover. So, here is my ask on behalf
78:24 its cover. So, here is my ask on behalf of a struggling entrepreneur you've
78:25 of a struggling entrepreneur you've never met. Please help that entrepreneur
78:28 never met. Please help that entrepreneur by leaving this book a review. Your
78:30 by leaving this book a review. Your review helps one more small business
78:31 review helps one more small business like Bills provide for their community.
78:33 like Bills provide for their community. In Bill's own words, "I opened a
78:35 In Bill's own words, "I opened a pizzeria in early 2020, shortly after
78:37 pizzeria in early 2020, shortly after finding the $100 million offers book.
78:39 finding the $100 million offers book. Sales started slow, but we did it. After
78:42 Sales started slow, but we did it. After I read $100 million leads, we
78:43 I read $100 million leads, we implemented many things like having
78:44 implemented many things like having customers donate to the local food bank
78:46 customers donate to the local food bank for a chance to win free prizes for a
78:48 for a chance to win free prizes for a year. I've lost count of how many new
78:50 year. I've lost count of how many new customers we've gotten after doing these
78:51 customers we've gotten after doing these things for the community. This
78:52 things for the community. This absolutely proves the stuff works for
78:54 absolutely proves the stuff works for any type of business. Thank you, Bill.
78:58 any type of business. Thank you, Bill. Your review helps one entrepreneur like
79:00 Your review helps one entrepreneur like Thomas support their family." In
79:02 Thomas support their family." In Thomas's own words, "After 10 years, I
79:04 Thomas's own words, "After 10 years, I got laid off from my nineto-ive job, but
79:06 got laid off from my nineto-ive job, but I found your book and opened a tour
79:07 I found your book and opened a tour guide business in Colorado. Fast forward
79:09 guide business in Colorado. Fast forward two years later, and we have five
79:11 two years later, and we have five employees. I literally took what I
79:13 employees. I literally took what I learned and built my dream. Now my kids
79:15 learned and built my dream. Now my kids and wife are happier than ever." Your
79:17 and wife are happier than ever." Your review will help one more employee like
79:18 review will help one more employee like Miguel have more meaningful work. In
79:20 Miguel have more meaningful work. In Miguel's own words, I received the book
79:22 Miguel's own words, I received the book as a gift and decided to pass it on to
79:24 as a gift and decided to pass it on to my six employees. Since then, our
79:26 my six employees. Since then, our business has undergone a remarkable
79:27 business has undergone a remarkable transformation and continues to grow on
79:28 transformation and continues to grow on a monthly basis. Not only that, but I
79:31 a monthly basis. Not only that, but I also gave it to my independent
79:32 also gave it to my independent contractor trainers. Thank you. Your
79:34 contractor trainers. Thank you. Your review helps one more entrepreneur like
79:36 review helps one more entrepreneur like Simon transform their life. Here's
79:38 Simon transform their life. Here's Simon's own words. I'm just normal guy
79:40 Simon's own words. I'm just normal guy from Germany and I couldn't get a client
79:41 from Germany and I couldn't get a client to save my life. Then I bought $100
79:43 to save my life. Then I bought $100 million leads. After reading the cold
79:45 million leads. After reading the cold outreach chapter, I started the rule of
79:46 outreach chapter, I started the rule of 100. I expected maybe to get one to two
79:49 100. I expected maybe to get one to two clients, but then I booked eight
79:51 clients, but then I booked eight meetings in seven days. I closed four of
79:52 meetings in seven days. I closed four of them and earned my first $500 from one
79:55 them and earned my first $500 from one of those clients. It has been 3 months
79:57 of those clients. It has been 3 months now and my career couldn't be better.
79:58 now and my career couldn't be better. Your book was the only book I needed. I
80:00 Your book was the only book I needed. I recommend it to everyone. And your
80:02 recommend it to everyone. And your review could help one more entrepreneur
80:03 review could help one more entrepreneur like Alex get out of a hole. In Alex's
80:05 like Alex get out of a hole. In Alex's own words, I moved in with my girlfriend
80:07 own words, I moved in with my girlfriend making less than $1,000 a month. I
80:09 making less than $1,000 a month. I bought $100 leads and we applied
80:11 bought $100 leads and we applied everything. Three weeks later, we signed
80:13 everything. Three weeks later, we signed a client for over $2,000 a month, then
80:14 a client for over $2,000 a month, then three more. I owe you a lot more than
80:16 three more. I owe you a lot more than what these books cost. Your review helps
80:19 what these books cost. Your review helps one more entrepreneur like Mohan flee
80:21 one more entrepreneur like Mohan flee his country and get out of debt. In
80:22 his country and get out of debt. In Mohan's own words, "As a struggling
80:25 Mohan's own words, "As a struggling Indian immigrant trying to get to
80:26 Indian immigrant trying to get to Ireland, I made so little money I would
80:28 Ireland, I made so little money I would die before I pay off my debt. I tutored
80:30 die before I pay off my debt. I tutored on the side where I could. Then I read
80:32 on the side where I could. Then I read $100 million offers and quit my job 11
80:34 $100 million offers and quit my job 11 days later. I did the same work but
80:36 days later. I did the same work but learned how to make offers this time.
80:38 learned how to make offers this time. Clients were happy to pay, sometimes
80:40 Clients were happy to pay, sometimes even $1,500 when I gave some bonuses. I
80:43 even $1,500 when I gave some bonuses. I make a liveable income now. And I
80:44 make a liveable income now. And I finally found what I love to do. I moved
80:46 finally found what I love to do. I moved to Germany now and my debt is almost
80:48 to Germany now and my debt is almost paid. Thank you." If you tell yourself
80:50 paid. Thank you." If you tell yourself you'll do it later, instead please do it
80:53 you'll do it later, instead please do it now. It takes less than 60 seconds to
80:54 now. It takes less than 60 seconds to change someone's life forever. If you're
80:56 change someone's life forever. If you're on Audible, hit the three dots on the
80:58 on Audible, hit the three dots on the top right of your device. Click rate and
81:00 top right of your device. Click rate and review and leave a few sentences about
81:01 review and leave a few sentences about book with a star rating. If you're
81:03 book with a star rating. If you're reading on Kindle or an e-reader, scroll
81:05 reading on Kindle or an e-reader, scroll to the bottom of the book, then swipe
81:06 to the bottom of the book, then swipe up. It'll prompt you for a review. And
81:08 up. It'll prompt you for a review. And if for some reason these have changed,
81:09 if for some reason these have changed, you can go to Amazon or wherever you
81:11 you can go to Amazon or wherever you purchase this and leave a review right
81:12 purchase this and leave a review right on the books page. If you feel good
81:14 on the books page. If you feel good about helping faceless entrepreneurs,
81:15 about helping faceless entrepreneurs, you're my kind of people. Welcome to
81:17 you're my kind of people. Welcome to Mosy Nation. You're one of us. I'm that
81:19 Mosy Nation. You're one of us. I'm that much more excited to help you make more
81:20 much more excited to help you make more money than you could ever possibly
81:22 money than you could ever possibly imagine. You'll love the tactics I'm
81:23 imagine. You'll love the tactics I'm about to share with you in the coming
81:24 about to share with you in the coming chapters. Thank you from the bottom of
81:26 chapters. Thank you from the bottom of my heart. Now, back to our regularly
81:28 my heart. Now, back to our regularly scheduled programming. Your biggest fan,
81:29 scheduled programming. Your biggest fan, Alex. Attraction conclusion. Extra extra
81:32 Alex. Attraction conclusion. Extra extra here. All about it. The point of
81:34 here. All about it. The point of attraction offers is to turn strangers
81:35 attraction offers is to turn strangers into customers and do it in a way that
81:37 into customers and do it in a way that gets more cash up front. Ideally, we get
81:39 gets more cash up front. Ideally, we get enough cash to cover the cost of the
81:41 enough cash to cover the cost of the customer and the cost to deliver our
81:42 customer and the cost to deliver our thing multiple times over. That way, we
81:45 thing multiple times over. That way, we can pay ourselves back and get our next
81:47 can pay ourselves back and get our next customer. I showed you the five most
81:49 customer. I showed you the five most powerful attraction offers I've seen and
81:50 powerful attraction offers I've seen and used. Win your money back, giveaways,
81:52 used. Win your money back, giveaways, decoy offers, buy XKY free, and pay less
81:54 decoy offers, buy XKY free, and pay less now or pay more later. I apply them at
81:56 now or pay more later. I apply them at one time or another to every business I
81:58 one time or another to every business I own. They turn $1,000 into 10 million in
82:00 own. They turn $1,000 into 10 million in 10 months because when I got returns, I
82:02 10 months because when I got returns, I kept doubling down. A grand slam
82:04 kept doubling down. A grand slam attraction offer changes your business
82:06 attraction offer changes your business and life forever. After using attraction
82:08 and life forever. After using attraction offers, we've got more customers. And
82:10 offers, we've got more customers. And now that we've got them, we need to
82:11 now that we've got them, we need to boost our 30-day profits even more by
82:13 boost our 30-day profits even more by selling them even more stuff. This leads
82:16 selling them even more stuff. This leads us to the next component of a $100
82:17 us to the next component of a $100 million money model. Upsell offers. What
82:19 million money model. Upsell offers. What to offer next? Section three, upsell
82:22 to offer next? Section three, upsell offers. Do you want fries with that?
82:24 offers. Do you want fries with that? McDonald's famous upsell. With an
82:27 McDonald's famous upsell. With an attraction offer in place, you've got
82:28 attraction offer in place, you've got customers and cash. If we did a good
82:30 customers and cash. If we did a good job, we've turned a profit, too. Nice.
82:33 job, we've turned a profit, too. Nice. Now, we want to maximize 30-day profits.
82:35 Now, we want to maximize 30-day profits. So, what do we do? Answer: Make more
82:37 So, what do we do? Answer: Make more money. To do that, we make upsell
82:38 money. To do that, we make upsell offers. And when it comes down to it,
82:40 offers. And when it comes down to it, upsells just means whatever we offer
82:42 upsells just means whatever we offer next. How upsells work.
82:46 next. How upsells work. When an offer solves a problem, another
82:48 When an offer solves a problem, another appears. You upsell the solution to the
82:49 appears. You upsell the solution to the problem your offer reveals. So, every
82:52 problem your offer reveals. So, every offer opens the door to an upsell. Even
82:54 offer opens the door to an upsell. Even upsells. Often, upsells make the
82:56 upsells. Often, upsells make the majority of the profit. They make or
82:57 majority of the profit. They make or break a bunny model. Let me show you how
82:59 break a bunny model. Let me show you how much. Let's say a burger shop makes 25
83:01 much. Let's say a burger shop makes 25 cents in profit on a $2 burger. If it
83:04 cents in profit on a $2 burger. If it was the only offer they had, they'd have
83:05 was the only offer they had, they'd have to sell 10,000 burgers a day to cover
83:07 to sell 10,000 burgers a day to cover costs and barely ek out a living. Good
83:09 costs and barely ek out a living. Good luck. But they have more offers beyond
83:11 luck. But they have more offers beyond just the burger. They ask, "Do you want
83:13 just the burger. They ask, "Do you want fries with that?" If the person says
83:14 fries with that?" If the person says yes, they profit another 75 cents and
83:17 yes, they profit another 75 cents and then ask, "Do you want to make it a
83:18 then ask, "Do you want to make it a meal?" which adds a drink. If someone
83:20 meal?" which adds a drink. If someone says yes, they profit an extra $1.75.
83:23 says yes, they profit an extra $1.75. Their profit goes from 25 to $2, an 8x
83:26 Their profit goes from 25 to $2, an 8x increase. And on top of that, they offer
83:28 increase. And on top of that, they offer a third upsell. Do you want to
83:29 a third upsell. Do you want to superersize your meal for just a buck
83:30 superersize your meal for just a buck more? This takes profit from a measly 25
83:33 more? This takes profit from a measly 25 to a massive $3 11.6x increase. And now
83:37 to a massive $3 11.6x increase. And now this little burger place actually has a
83:39 this little burger place actually has a chance of succeeding.
83:41 chance of succeeding. I show this basic and common example to
83:44 I show this basic and common example to point one thing. Your first offer
83:46 point one thing. Your first offer doesn't always have to make a profit. In
83:48 doesn't always have to make a profit. In other words, the thing you sell the most
83:50 other words, the thing you sell the most isn't always the thing you make the most
83:52 isn't always the thing you make the most profit on. You make it on the second,
83:54 profit on. You make it on the second, third, and in the case of the burger
83:55 third, and in the case of the burger business, fourth offers and beyond. If
83:58 business, fourth offers and beyond. If McDonald's didn't upsell fries and soda,
83:59 McDonald's didn't upsell fries and soda, there wouldn't be a McDonald's. If you
84:01 there wouldn't be a McDonald's. If you want to win, you have to figure out your
84:03 want to win, you have to figure out your version of do you want fries with that?
84:05 version of do you want fries with that? If you don't, others will. Upsells fail
84:07 If you don't, others will. Upsells fail when you offer something they don't
84:09 when you offer something they don't want, too different, or doesn't solve
84:11 want, too different, or doesn't solve their problem. You offered at the wrong
84:12 their problem. You offered at the wrong time before they've experienced the
84:14 time before they've experienced the problem. You offer it the wrong way,
84:16 problem. You offer it the wrong way, they don't believe you. Or a combination
84:17 they don't believe you. Or a combination of all three. In summary, offers tend to
84:20 of all three. In summary, offers tend to offer more of what they just got. Think
84:22 offer more of what they just got. Think quantity. Why have one burger when you
84:24 quantity. Why have one burger when you could have two? Better versions of it.
84:26 could have two? Better versions of it. Think quality. Why have mystery meat
84:27 Think quality. Why have mystery meat when you could have sirloin? New or
84:29 when you could have sirloin? New or complimentary stuff? Think different. Do
84:31 complimentary stuff? Think different. Do you want fries and a soda with that? I
84:33 you want fries and a soda with that? I use four simple and brutally effective
84:35 use four simple and brutally effective upsell offers. The classic upsell, menu
84:38 upsell offers. The classic upsell, menu upsells, anchor upsells, and rollover
84:40 upsells, anchor upsells, and rollover upsells. And with just a few tweaks, you
84:42 upsells. And with just a few tweaks, you can fit them into your business today.
84:44 can fit them into your business today. Warning, this section is brutally
84:46 Warning, this section is brutally effective and must be used ethically.
84:48 effective and must be used ethically. That being said, let's make some money.
84:51 That being said, let's make some money. Free gift upsell offers, no opt-in. If
84:54 Free gift upsell offers, no opt-in. If you want to make more profit per
84:55 you want to make more profit per customer, you got to sell more stuff.
84:57 customer, you got to sell more stuff. Knowing the right time, way, and stuff
84:59 Knowing the right time, way, and stuff to sell is key. I've learned my fair
85:01 to sell is key. I've learned my fair share of lessons doing it the wrong way.
85:03 share of lessons doing it the wrong way. I hope I can help you avoid those
85:04 I hope I can help you avoid those mistakes and get it done right the first
85:06 mistakes and get it done right the first time. I made you an additional training
85:08 time. I made you an additional training on this chapter you can watch for free
85:09 on this chapter you can watch for free at acquisition.com/training/money.
85:12 at acquisition.com/training/money. The classic upsell. You can't have X
85:14 The classic upsell. You can't have X without Y.
85:16 without Y. He was a premier fur coat dealer, a
85:18 He was a premier fur coat dealer, a fourth generation business savant and a
85:20 fourth generation business savant and a childhood mentor of mine. We sat down to
85:22 childhood mentor of mine. We sat down to catch up in a swanky restaurant across
85:24 catch up in a swanky restaurant across from his shop. Within a minute of
85:26 from his shop. Within a minute of ordering, our salmon appeared. What do
85:28 ordering, our salmon appeared. What do you think this salmon cost the
85:29 you think this salmon cost the restaurant? Three bucks? Maybe a few
85:31 restaurant? Three bucks? Maybe a few extra pennies for the garnish. And look
85:33 extra pennies for the garnish. And look at the menu. They're charging 32 bucks.
85:34 at the menu. They're charging 32 bucks. Unbelievable. But we pay it. He took his
85:37 Unbelievable. But we pay it. He took his first bite and chuckled to himself, then
85:39 first bite and chuckled to himself, then continued. So, I heard you got into the
85:41 continued. So, I heard you got into the game. Good for you. Never would have
85:42 game. Good for you. Never would have guessed when you worked at the shop. You
85:43 guessed when you worked at the shop. You were kind of awkward.
85:45 were kind of awkward. What can I say? Brushing 7,000 fur coats
85:48 What can I say? Brushing 7,000 fur coats in a row melted my brain. I chuckled.
85:50 in a row melted my brain. I chuckled. You still making a killing on that? A
85:52 You still making a killing on that? A sheepish grin appeared. Yeah, and that's
85:54 sheepish grin appeared. Yeah, and that's not even the best part. My son came up
85:56 not even the best part. My son came up with something genius. His son would be
85:58 with something genius. His son would be the fifth generation owner. Tell me
86:01 the fifth generation owner. Tell me about it, I asked. We advertise free ear
86:04 about it, I asked. We advertise free ear muffs with coat storage. And get this.
86:05 muffs with coat storage. And get this. When customers come in to get their
86:07 When customers come in to get their muffs and store their coats, he says,
86:09 muffs and store their coats, he says, "Great. And we'll store those as well
86:11 "Great. And we'll store those as well for $30. You don't want to store
86:12 for $30. You don't want to store anything else, do you?" And of course,
86:14 anything else, do you?" And of course, they say no. Wait a second. So, you get
86:17 they say no. Wait a second. So, you get them to pay for additional storage for
86:19 them to pay for additional storage for free ear muffs by getting them to say no
86:21 free ear muffs by getting them to say no to another upsell. You guys are legends.
86:25 to another upsell. You guys are legends. Us? No, you stay creative and if
86:28 Us? No, you stay creative and if something works, we stick with it.
86:30 something works, we stick with it. Whenever he talk business, he'd light
86:31 Whenever he talk business, he'd light up. Despite being awkward around his
86:33 up. Despite being awkward around his shop, I learned many lifelong lessons
86:35 shop, I learned many lifelong lessons from him. I share the story in homage to
86:36 from him. I share the story in homage to those lessons. Description: The classic
86:39 those lessons. Description: The classic upsell offers a solution to the
86:40 upsell offers a solution to the customer's next problem the moment they
86:42 customer's next problem the moment they become aware of it. I explain the
86:44 become aware of it. I explain the classic upsell first because it's
86:45 classic upsell first because it's extremely profitable, easy, and anyone
86:47 extremely profitable, easy, and anyone can do it. Main reason: current
86:49 can do it. Main reason: current customers always have a higher chance of
86:50 customers always have a higher chance of buying your stuff than strangers. And
86:52 buying your stuff than strangers. And when timed right, customers upsell
86:53 when timed right, customers upsell themselves. The classic upsell relies on
86:56 themselves. The classic upsell relies on knowing more about your customer's
86:57 knowing more about your customer's problem than they do. And you darn well
86:59 problem than they do. And you darn well should. It's your business after all.
87:01 should. It's your business after all. The idea is simple. Your core offer
87:03 The idea is simple. Your core offer solves one problem and creates another.
87:04 solves one problem and creates another. Your upsell immediately solves that next
87:06 Your upsell immediately solves that next problem. This gives the classic upsell
87:08 problem. This gives the classic upsell its you can't have X without Y
87:10 its you can't have X without Y structure. Like the rental car story,
87:12 structure. Like the rental car story, you can't have a car without insurance.
87:14 you can't have a car without insurance. You can't have a car without gas. You
87:15 You can't have a car without gas. You can't have a good trip without a late
87:16 can't have a good trip without a late checkout, etc. All these things become
87:18 checkout, etc. All these things become immediately apparent as soon as the
87:20 immediately apparent as soon as the customer makes the first purchase.
87:21 customer makes the first purchase. Bottom line, if a problem appears and
87:23 Bottom line, if a problem appears and you can solve it immediately in exchange
87:25 you can solve it immediately in exchange for money, do it.
87:28 for money, do it. Examples: local car wash service, first
87:31 Examples: local car wash service, first purchase, car wash. Upsell, sealant.
87:34 purchase, car wash. Upsell, sealant. You're not going to want to do the car
87:35 You're not going to want to do the car wash without the sealant. You'll get way
87:36 wash without the sealant. You'll get way more for your money. Physical product,
87:38 more for your money. Physical product, first purchase, bicycle. Upsell one,
87:41 first purchase, bicycle. Upsell one, helmet. Upsell two, lights. Upsell
87:43 helmet. Upsell two, lights. Upsell three, puncture resistant tires. Can't
87:45 three, puncture resistant tires. Can't have a bike without a helmet.
87:47 have a bike without a helmet. digital product. First purchase course
87:49 digital product. First purchase course on exercising upsell nutrition course.
87:52 on exercising upsell nutrition course. You cannot exercise a bad diet. So
87:53 You cannot exercise a bad diet. So you're going to want a course on
87:54 you're going to want a course on nutrition.
87:56 nutrition. Important notes. Actually do it. You'd
87:59 Important notes. Actually do it. You'd be amazed how many businesses come to me
88:01 be amazed how many businesses come to me and only sell one thing. I usually tell
88:03 and only sell one thing. I usually tell them you barely have a business. You
88:04 them you barely have a business. You have a front end. Figure out what you're
88:06 have a front end. Figure out what you're going to sell next. Months later I hear
88:09 going to sell next. Months later I hear they actually 5x their business because
88:11 they actually 5x their business because they actually offered an upsell.
88:14 they actually offered an upsell. Offer more profitable upsells first. If
88:16 Offer more profitable upsells first. If I offer two products and one has a
88:18 I offer two products and one has a higher profit than the other, I offer
88:20 higher profit than the other, I offer the higher profit option first. Get them
88:22 the higher profit option first. Get them to say no to say yes. I was always
88:24 to say no to say yes. I was always amazed at how often the Furco dealer got
88:26 amazed at how often the Furco dealer got people to buy stuff by saying no. He
88:28 people to buy stuff by saying no. He knew people had been trained to say no
88:30 knew people had been trained to say no in response to you don't want anything
88:31 in response to you don't want anything else, do you? But this actually turns a
88:33 else, do you? But this actually turns a no into a yes. So when upselling, the
88:35 no into a yes. So when upselling, the question translate to you don't want
88:37 question translate to you don't want anything else besides what I just
88:39 anything else besides what I just offered, do you? Clever salesmanship. So
88:42 offered, do you? Clever salesmanship. So let the nos parenthesis yeses roll in.
88:47 let the nos parenthesis yeses roll in. Surprise and delight. Let's say you have
88:49 Surprise and delight. Let's say you have four bonuses you save to get people to
88:51 four bonuses you save to get people to buy who are on the fence. Add one at a
88:54 buy who are on the fence. Add one at a time. If they say yes before you add
88:56 time. If they say yes before you add them, still give them all four. It will
88:58 them, still give them all four. It will surprise and delight them. And it
89:00 surprise and delight them. And it guarantees you still sell the same thing
89:01 guarantees you still sell the same thing to everyone so no one feels left out
89:03 to everyone so no one feels left out later. Sell more when they're buying
89:05 later. Sell more when they're buying more. Hyper buying cycle. Most buyers
89:07 more. Hyper buying cycle. Most buyers enter a hyper buying cycle when they
89:09 enter a hyper buying cycle when they decide to do something new. It's a short
89:10 decide to do something new. It's a short window of time when they're most excited
89:12 window of time when they're most excited about a new thing they're going to do.
89:14 about a new thing they're going to do. This is when they spend a huge chunk of
89:15 This is when they spend a huge chunk of money in a short period of time. Think
89:17 money in a short period of time. Think weddings, starting new hobbies, having
89:18 weddings, starting new hobbies, having babies, moving to new places, and so on.
89:21 babies, moving to new places, and so on. If you have a business that caters to
89:22 If you have a business that caters to these sort of problems, don't shy away
89:24 these sort of problems, don't shy away from upsell offers. Embrace it and keep
89:26 from upsell offers. Embrace it and keep making offers. Use free bonuses to
89:29 making offers. Use free bonuses to create problems upsell offers solve.
89:31 create problems upsell offers solve. Bonuses solve problems. That's what
89:33 Bonuses solve problems. That's what makes them valuable. And because of the
89:35 makes them valuable. And because of the problem solution cycle, they can also
89:37 problem solution cycle, they can also reveal them. Upsells can solve that new
89:39 reveal them. Upsells can solve that new problem. The ear muffs, for example,
89:41 problem. The ear muffs, for example, cost materials and labor, but they were
89:43 cost materials and labor, but they were able to give them away for free by
89:45 able to give them away for free by getting customers to pay $30 to store
89:46 getting customers to pay $30 to store something they just got for free. The
89:48 something they just got for free. The faster people get access to stuff, the
89:50 faster people get access to stuff, the more they'll value it. A $10,000 thing
89:54 more they'll value it. A $10,000 thing you get later is worth less than a
89:56 you get later is worth less than a $10,000 thing you get now. The longer it
89:59 $10,000 thing you get now. The longer it takes someone to access something, the
90:00 takes someone to access something, the less value it has in the moment. So, if
90:02 less value it has in the moment. So, if you want to raise the chance of someone
90:04 you want to raise the chance of someone taking an upsell, make it available as
90:05 taking an upsell, make it available as soon as you can. Bonus points if you can
90:07 soon as you can. Bonus points if you can put it in their hands before they've
90:08 put it in their hands before they've said yes. It's way harder to give
90:10 said yes. It's way harder to give something back once you've gotten it.
90:17 If you bundle upsells, name them. It's easier to sell someone one thing than
90:19 easier to sell someone one thing than nine things. By bundling items together,
90:21 nine things. By bundling items together, you can make one ask and get nine sales.
90:24 you can make one ask and get nine sales. I named the packages based on the
90:25 I named the packages based on the customer type and/or result. For
90:27 customer type and/or result. For example, fastest results bundle or a
90:29 example, fastest results bundle or a transformation package or minimum
90:31 transformation package or minimum package. All these will boost upselles
90:33 package. All these will boost upselles per person. Last, you can peel some of
90:36 per person. Last, you can peel some of the products or features from the
90:37 the products or features from the package as a way to downell. More on
90:39 package as a way to downell. More on that in section five, downell offers.
90:42 that in section five, downell offers. Integrate upsells into your other
90:43 Integrate upsells into your other offers. Make stuff you upsell part of
90:46 offers. Make stuff you upsell part of how you deliver other offers. Then more
90:49 how you deliver other offers. Then more customers will take them. My meal plans
90:51 customers will take them. My meal plans included optional supplement
90:52 included optional supplement suggestions. So, when I went over
90:54 suggestions. So, when I went over nutrition, people asked about
90:55 nutrition, people asked about supplements. Gym launch sales and
90:57 supplements. Gym launch sales and marketing training suggested optional
90:58 marketing training suggested optional softwares. This led gym owners to buy
91:00 softwares. This led gym owners to buy them. Integrate the next thing you want
91:02 them. Integrate the next thing you want to sell into the first thing they buy.
91:04 to sell into the first thing they buy. Make sure you book a meeting from a
91:06 Make sure you book a meeting from a meeting. Bam, fam. The more times you
91:09 meeting. Bam, fam. The more times you can upsell, the more people you will
91:11 can upsell, the more people you will upsell.
91:13 upsell. If you upsell more people, you can make
91:15 If you upsell more people, you can make more money. And since you want that, end
91:17 more money. And since you want that, end every appointment by scheduling the next
91:19 every appointment by scheduling the next appointment. Don't let them leave
91:20 appointment. Don't let them leave without booking. As my big fancy public
91:23 without booking. As my big fancy public CEO friend Shiron says, a customer
91:26 CEO friend Shiron says, a customer should know the next time they see you
91:27 should know the next time they see you and why before they leave. So, if you
91:30 and why before they leave. So, if you agree to meet again, agree on why and
91:32 agree to meet again, agree on why and when, right? Then upsell as many times
91:34 when, right? Then upsell as many times as it makes sense to. The rental car
91:37 as it makes sense to. The rental car agency had lots of upsells. Their burger
91:39 agency had lots of upsells. Their burger place had lots of upsells. My gym had
91:41 place had lots of upsells. My gym had lots of upsells. Gym Launch had lots of
91:43 lots of upsells. Gym Launch had lots of upsells. Offer many solutions as there
91:46 upsells. Offer many solutions as there are problems that you can solve. Don't
91:48 are problems that you can solve. Don't be shy. If you can solve it, offer to.
91:50 be shy. If you can solve it, offer to. The second worst thing that happens is
91:52 The second worst thing that happens is they say no. The worst thing is if they
91:54 they say no. The worst thing is if they would have said yes, but you never
91:55 would have said yes, but you never asked. The magnetic middle. Pro tip. How
92:00 asked. The magnetic middle. Pro tip. How to offer more of the same thing. If you
92:02 to offer more of the same thing. If you have two things and want to sell one,
92:04 have two things and want to sell one, add a third option to nudge the option
92:06 add a third option to nudge the option you want them to buy. Movie theaters do
92:09 you want them to buy. Movie theaters do this all the time with soda and popcorn.
92:11 this all the time with soda and popcorn. Here's how. There's small, medium, and
92:14 Here's how. There's small, medium, and large pricing work something like this.
92:16 large pricing work something like this. Small $5, medium $8 rather than the
92:20 Small $5, medium $8 rather than the rational price of seven, which would be
92:22 rational price of seven, which would be in between. And then C, large $9.
92:26 in between. And then C, large $9. result. More people take the large.
92:29 result. More people take the large. People who take the small option will
92:30 People who take the small option will always take the small option. People who
92:32 always take the small option. People who take the large will always take the
92:33 take the large will always take the large. But the people who would normally
92:35 large. But the people who would normally take the medium will now probably take
92:38 take the medium will now probably take the large. If you want to get more
92:40 the large. If you want to get more people to buy the medium option, you'd
92:42 people to buy the medium option, you'd price it like this. Small would be $6
92:45 price it like this. Small would be $6 rather than the rational price of $5.
92:47 rather than the rational price of $5. The medium is seven, halfway in between
92:49 The medium is seven, halfway in between the original pricing. And then large is
92:51 the original pricing. And then large is $9. This upsells more people into the
92:54 $9. This upsells more people into the medium option because now most people
92:56 medium option because now most people would normally get a small will get a
92:58 would normally get a small will get a medium. Bottom line, if you have a lot
93:00 medium. Bottom line, if you have a lot of customers buying small, you can bump
93:01 of customers buying small, you can bump them into mediums. If you have a lot of
93:03 them into mediums. If you have a lot of customers buying medium, bump them to
93:04 customers buying medium, bump them to large. If you have a lot of customers
93:06 large. If you have a lot of customers buying large, raise all your prices.
93:08 buying large, raise all your prices. Upsell guarantees warranties and
93:10 Upsell guarantees warranties and insurance. Many businesses offer
93:12 insurance. Many businesses offer guarantees on products. Many businesses
93:14 guarantees on products. Many businesses offer warranties on products. Many
93:16 offer warranties on products. Many businesses offer insurance on products.
93:18 businesses offer insurance on products. You can upsell all of them. So instead
93:20 You can upsell all of them. So instead of doing it for free, just add 5 to 50%
93:22 of doing it for free, just add 5 to 50% onto the price in exchange for a
93:24 onto the price in exchange for a guarantee that the thing does what you
93:25 guarantee that the thing does what you say it will. Example, an art studio used
93:28 say it will. Example, an art studio used to replace damaged portraits at no
93:29 to replace damaged portraits at no charge. I told them to start asking for
93:31 charge. I told them to start asking for customers if they'd pay an extra 10% for
93:33 customers if they'd pay an extra 10% for it. Now 30% of customers buy stuff the
93:35 it. Now 30% of customers buy stuff the art studio used to give away for free.
93:37 art studio used to give away for free. Pure profit. Summary. Your attraction
93:41 Pure profit. Summary. Your attraction offer reveals a problem. Upsells,
93:43 offer reveals a problem. Upsells, whatever you offer next, solve it. Use
93:45 whatever you offer next, solve it. Use the classic upsell for immediate
93:47 the classic upsell for immediate problems revealed by your previous
93:48 problems revealed by your previous offer. Asking you don't want anything
93:50 offer. Asking you don't want anything else, do you? Gets people to agree by
93:52 else, do you? Gets people to agree by saying no. It works. Increase the chance
93:55 saying no. It works. Increase the chance customers take upsells by giving them
93:56 customers take upsells by giving them access to it as soon as possible. Give
93:58 access to it as soon as possible. Give away bonuses that create an upsell
94:00 away bonuses that create an upsell opportunity. A great way to make more
94:02 opportunity. A great way to make more cash. To get more chances to upsell
94:03 cash. To get more chances to upsell customers, make BAMF fam a way of life.
94:05 customers, make BAMF fam a way of life. Book a meeting from a meeting. You can
94:08 Book a meeting from a meeting. You can have as many upsell offers as you want
94:09 have as many upsell offers as you want as long as you keep solving problems.
94:11 as long as you keep solving problems. You lose nothing by offering to solve
94:13 You lose nothing by offering to solve someone's problem. If it makes sense for
94:15 someone's problem. If it makes sense for your business, you can charge for
94:16 your business, you can charge for guarantees, warranties, or insurance
94:17 guarantees, warranties, or insurance rather than giving them away for free.
94:20 rather than giving them away for free. Free gift. Watch the classic upsell
94:22 Free gift. Watch the classic upsell video training. No opt-in required. The
94:24 video training. No opt-in required. The first upsell everyone should learn is
94:25 first upsell everyone should learn is the classic upsell. There are a bunch of
94:27 the classic upsell. There are a bunch of tiny tips that can make a big
94:28 tiny tips that can make a big difference. I made a training video to
94:29 difference. I made a training video to make sure that you didn't miss any of
94:30 make sure that you didn't miss any of these tiny details. You can watch for
94:32 these tiny details. You can watch for free at acquisition.com/training/money.
94:34 free at acquisition.com/training/money. Menu upsells. You don't need that. You
94:36 Menu upsells. You don't need that. You need this. December 2013. People kept
94:40 need this. December 2013. People kept joining the gym like normal, but nobody
94:41 joining the gym like normal, but nobody cared about my supplements. I read
94:43 cared about my supplements. I read somewhere keeping shelves full got more
94:45 somewhere keeping shelves full got more people to buy. So I stocked my shelves
94:46 people to buy. So I stocked my shelves with all the labels in a perfect row. It
94:48 with all the labels in a perfect row. It didn't work. I also heard if I told
94:50 didn't work. I also heard if I told someone about the cool science they
94:51 someone about the cool science they would buy. That didn't work either. I
94:53 would buy. That didn't work either. I got a few pity purchases from loyal
94:55 got a few pity purchases from loyal members, but I was doing something
94:56 members, but I was doing something seriously wrong. Why do I suck so much?
94:59 seriously wrong. Why do I suck so much? On a particularly rough day, I had 19
95:01 On a particularly rough day, I had 19 nutrition consults and nobody bought
95:03 nutrition consults and nobody bought anything. It was miserable. Then
95:05 anything. It was miserable. Then appointment number 20 came in. She had a
95:06 appointment number 20 came in. She had a nice purse and a big diamond ring on her
95:08 nice purse and a big diamond ring on her hand. If I can't sell her, I should just
95:10 hand. If I can't sell her, I should just quit trying. But then I remembered I've
95:12 quit trying. But then I remembered I've got $5,000 in inventory on my shelf. I
95:14 got $5,000 in inventory on my shelf. I got to figure this out. We went through
95:15 got to figure this out. We went through her nutrition consultation and I started
95:17 her nutrition consultation and I started getting nervous. I got so nervous I
95:19 getting nervous. I got so nervous I forgot my script. And rather than
95:20 forgot my script. And rather than gabbing about science stuff, I just
95:21 gabbing about science stuff, I just asked, "You've got a protein shake for
95:23 asked, "You've got a protein shake for breakfast. Do you like chocolate or
95:24 breakfast. Do you like chocolate or vanilla?" "Which one's your favorite?"
95:26 vanilla?" "Which one's your favorite?" she asked. "Uh, chocolate." "Great, I'll
95:29 she asked. "Uh, chocolate." "Great, I'll take one of those." "Wait, what just
95:31 take one of those." "Wait, what just happened?" I didn't talk about the
95:33 happened?" I didn't talk about the benefits or anything. I just asked what
95:35 benefits or anything. I just asked what she wanted and she told me. Taking the
95:37 she wanted and she told me. Taking the hint, I moved on to the next item. Do
95:39 hint, I moved on to the next item. Do you want kiwi or strawberry lemonade
95:41 you want kiwi or strawberry lemonade pre-workout? Then I remembered her last
95:43 pre-workout? Then I remembered her last question. Uh, I like strawberry
95:44 question. Uh, I like strawberry lemonade. Smiling. Great. I'll take that
95:47 lemonade. Smiling. Great. I'll take that one. I had more products, but selling
95:49 one. I had more products, but selling two was a record, and I didn't want to
95:51 two was a record, and I didn't want to scare her away. I still had to ask for
95:52 scare her away. I still had to ask for money. So, I grabbed her membership
95:54 money. So, I grabbed her membership contract that already had her card on
95:56 contract that already had her card on it, and I asked, "Do you want to choose
95:57 it, and I asked, "Do you want to choose the cards that we have on file?" Yep,
95:59 the cards that we have on file?" Yep, that's fine. After that conversation, I
96:02 that's fine. After that conversation, I sold the next 20 customers in a row. At
96:04 sold the next 20 customers in a row. At the end of the day, I stared at my empty
96:05 the end of the day, I stared at my empty shelf in disbelief. I know how to sell
96:07 shelf in disbelief. I know how to sell supplements. takeaway. I stumbled on two
96:10 supplements. takeaway. I stumbled on two tactics that changed my upsell game
96:11 tactics that changed my upsell game forever. First, the AB upsell. I ask
96:14 forever. First, the AB upsell. I ask which product they prefer rather than
96:17 which product they prefer rather than whether they want to buy a product at
96:18 whether they want to buy a product at all. Second, asking if they want to use
96:20 all. Second, asking if they want to use a card on file rather than asking them
96:22 a card on file rather than asking them to take out their card again. I still
96:23 to take out their card again. I still use both to this day, August 2014. Now,
96:27 use both to this day, August 2014. Now, I closed sales left and right. Bing,
96:29 I closed sales left and right. Bing, bang, boom. Now, it wasn't exactly big
96:31 bang, boom. Now, it wasn't exactly big stuff, but I was selling consistently.
96:33 stuff, but I was selling consistently. Every month I start a new group of
96:34 Every month I start a new group of challengers and like clockwork I'd
96:36 challengers and like clockwork I'd upsell five grand to 10 grand of
96:37 upsell five grand to 10 grand of supplements. Not bad for a day's work.
96:39 supplements. Not bad for a day's work. But on one day I had a lady who just
96:41 But on one day I had a lady who just wouldn't stop asking questions. She
96:43 wouldn't stop asking questions. She wanted more information. How to take
96:44 wanted more information. How to take them? How many? When? What times? What
96:46 them? How many? When? What times? What if she was working? What if she was at
96:48 if she was working? What if she was at home? What if she was at the gym? She
96:50 home? What if she was at the gym? She was relentless. I was going to be late
96:51 was relentless. I was going to be late for my next consult. So finally, I just
96:53 for my next consult. So finally, I just wrote up a step-by-step instruction on
96:54 wrote up a step-by-step instruction on the back of scratch paper. Take one of
96:56 the back of scratch paper. Take one of these at night. Take do of these after
96:57 these at night. Take do of these after lunch. Take one of these after workout.
96:58 lunch. Take one of these after workout. yada yada yada. I walked her through
97:00 yada yada yada. I walked her through what I wrote and asked, "Make sense?"
97:02 what I wrote and asked, "Make sense?" Nodding. Thanks. She grabbed the paper
97:03 Nodding. Thanks. She grabbed the paper and left. My next appointment had
97:05 and left. My next appointment had overheard our entire conversation. As
97:07 overheard our entire conversation. As soon as she sat down, she asked, "Do you
97:08 soon as she sat down, she asked, "Do you think you could write it all out like
97:09 think you could write it all out like you did for that lady?" I tried not to
97:11 you did for that lady?" I tried not to let out a sigh. I failed. I was going to
97:14 let out a sigh. I failed. I was going to be late for my next consult again. But I
97:17 be late for my next consult again. But I did as she asked. This time, I wrote
97:19 did as she asked. This time, I wrote instructions right on the order form.
97:20 instructions right on the order form. Next to each item, I wrote how much to
97:22 Next to each item, I wrote how much to take and when. And because I didn't want
97:24 take and when. And because I didn't want to push my points back another 15
97:25 to push my points back another 15 minutes, I just went for the upsell. I
97:28 minutes, I just went for the upsell. I got all your instructions here. Do you
97:29 got all your instructions here. Do you want to choose the card on file? Asked.
97:30 want to choose the card on file? Asked. Yeah, that's fine. Hot diggity dog. She
97:32 Yeah, that's fine. Hot diggity dog. She just bought all those products. I didn't
97:34 just bought all those products. I didn't even ask her anything. I just told her
97:35 even ask her anything. I just told her and she did. And she did it like magic.
97:39 and she did. And she did it like magic. I did this from that day forward and my
97:41 I did this from that day forward and my 30-day profits skyrocketed. Takeaway. I
97:45 30-day profits skyrocketed. Takeaway. I learned detailed and personalized
97:46 learned detailed and personalized instructions upsell more people than
97:48 instructions upsell more people than vague and general instructions. I call
97:50 vague and general instructions. I call this prescription upselling. November
97:52 this prescription upselling. November 2016. By now, I was on the road
97:54 2016. By now, I was on the road launching other people's gyms, and that
97:56 launching other people's gyms, and that included selling supplements. I sold
97:58 included selling supplements. I sold thousands of people. I'd see 40 to 50
98:00 thousands of people. I'd see 40 to 50 people a day. Two people every 30
98:02 people a day. Two people every 30 minutes, 12 hours straight. My
98:04 minutes, 12 hours straight. My supplement selling marathons alone
98:05 supplement selling marathons alone covered the flight there, my hotel, and
98:07 covered the flight there, my hotel, and advertising costs. I got so good, I'd
98:09 advertising costs. I got so good, I'd run out of stuff to sell. Today was one
98:11 run out of stuff to sell. Today was one of those days. I just sold a lady the
98:13 of those days. I just sold a lady the last four of products. In situations
98:16 last four of products. In situations like this, I'd sell whatever I had left
98:17 like this, I'd sell whatever I had left to the next customer. But before I could
98:19 to the next customer. But before I could pitch, she blurted out, "Can I just get
98:20 pitch, she blurted out, "Can I just get what she got?" Oh boy. I said, "Sorry, I
98:23 what she got?" Oh boy. I said, "Sorry, I just ran out." But honestly, you can get
98:25 just ran out." But honestly, you can get something close at the shop down the
98:27 something close at the shop down the street for about 20 bucks less. It's not
98:28 street for about 20 bucks less. It's not as good, but it'll do for the first
98:30 as good, but it'll do for the first month. Cool. Thank you so much for
98:31 month. Cool. Thank you so much for helping me out. She seems so grateful.
98:33 helping me out. She seems so grateful. It felt good. So, I continued unselling.
98:36 It felt good. So, I continued unselling. Oh, this other thing. Same story again.
98:38 Oh, this other thing. Same story again. Not as good. But it'll get you through
98:40 Not as good. But it'll get you through the first month. She seems so happy. I
98:42 the first month. She seems so happy. I couldn't stop myself now. I started
98:43 couldn't stop myself now. I started unselling stuff I wasn't going to sell
98:45 unselling stuff I wasn't going to sell her anyways. You're not trying to gain
98:46 her anyways. You're not trying to gain weight, right? I joked. Oh, god. No.
98:48 weight, right? I joked. Oh, god. No. Okay, great. Well, then you won't be
98:50 Okay, great. Well, then you won't be needing this either. I crossed out the
98:51 needing this either. I crossed out the weight gainer shake. Oh, and you aren't
98:54 weight gainer shake. Oh, and you aren't going to need to boost your
98:55 going to need to boost your testosterone, right? No. Haha. I don't
98:57 testosterone, right? No. Haha. I don't think so. She said, "Great. Well, you
98:59 think so. She said, "Great. Well, you won't be needing this either." I crossed
99:01 won't be needing this either." I crossed it out. Then I started making
99:02 it out. Then I started making suggestions from what I had left. Okay.
99:04 suggestions from what I had left. Okay. She need to take two of these, three of
99:06 She need to take two of these, three of these, and I went on. She loved it and
99:08 these, and I went on. She loved it and bought without hesitation. Takeaway. I
99:10 bought without hesitation. Takeaway. I went out of my way to cross out what she
99:12 went out of my way to cross out what she didn't need. And this built enough
99:14 didn't need. And this built enough goodwill to upsell what she did. Later,
99:16 goodwill to upsell what she did. Later, I kept products just to cross them out.
99:18 I kept products just to cross them out. I call this process unselling.
99:21 I call this process unselling. Description. In a menu upsell, you tell
99:23 Description. In a menu upsell, you tell customers which options they don't need,
99:26 customers which options they don't need, then tell them what they do need, their
99:28 then tell them what they do need, their preferences, and how they get value from
99:30 preferences, and how they get value from it. Menu upsells combine up to four
99:32 it. Menu upsells combine up to four tactics: AB upselling, prescription
99:34 tactics: AB upselling, prescription upselling, unselling, and card on file.
99:36 upselling, unselling, and card on file. First, I insult what customers don't
99:38 First, I insult what customers don't need. Second, I prescribe what they do
99:41 need. Second, I prescribe what they do need. Third, I ask their preference
99:42 need. Third, I ask their preference between A and B. Last, I make the buying
99:45 between A and B. Last, I make the buying easy by asking if they want to use the
99:46 easy by asking if they want to use the card on file. Unselling. You unsell them
99:50 card on file. Unselling. You unsell them by telling customers what they don't
99:51 by telling customers what they don't need so that you can emphasize what they
99:53 need so that you can emphasize what they do. Here, instead of asking if they want
99:55 do. Here, instead of asking if they want to buy or not, you explain what they
99:57 to buy or not, you explain what they don't need as a way to get them excited
99:59 don't need as a way to get them excited about what they do. Unselves vary based
100:01 about what they do. Unselves vary based on the customer's needs. When some
100:04 on the customer's needs. When some options work best, you can cross out the
100:06 options work best, you can cross out the rest. After telling them what they don't
100:08 rest. After telling them what they don't need, prescription upsell. We tell them
100:11 need, prescription upsell. We tell them what they do need. Prescription upsells
100:13 what they do need. Prescription upsells work well when offering a choice is
100:15 work well when offering a choice is inconvenient and you only have one thing
100:16 inconvenient and you only have one thing that solves the problem. Prescription
100:18 that solves the problem. Prescription upselling has two important components.
100:20 upselling has two important components. First, you have to explain how it
100:21 First, you have to explain how it integrates with the offers they already
100:23 integrates with the offers they already bought. Second, you personalize in
100:25 bought. Second, you personalize in detail how to maximize its value. Here,
100:27 detail how to maximize its value. Here, instead of asking if they want to buy it
100:28 instead of asking if they want to buy it or not, you explain how to use it as if
100:31 or not, you explain how to use it as if they already have. Again, we remove the
100:33 they already have. Again, we remove the option of not buying to lower the chance
100:35 option of not buying to lower the chance that they don't buy. And once I've told
100:37 that they don't buy. And once I've told them exactly how they're going to use
100:38 them exactly how they're going to use everything, AB upsell. We ask them for
100:41 everything, AB upsell. We ask them for their preferences. AB upsells work for
100:43 their preferences. AB upsells work for multiple offers that solve the same
100:44 multiple offers that solve the same problem. You make AB upsells by asking
100:47 problem. You make AB upsells by asking their preference. Instead of asking if
100:49 their preference. Instead of asking if customers want to buy a product, yes or
100:50 customers want to buy a product, yes or no, we ask which product they prefer, A
100:53 no, we ask which product they prefer, A or B. Either choice results in an
100:55 or B. Either choice results in an upsell. Basically, when you give people
100:57 upsell. Basically, when you give people the option not to buy, some don't buy.
100:59 the option not to buy, some don't buy. So, I give the option to pick between
101:00 So, I give the option to pick between buying two similar things. Once they
101:02 buying two similar things. Once they know what they're buying and how they're
101:03 know what they're buying and how they're going to use it, I suggest the easiest
101:05 going to use it, I suggest the easiest way for them to pay. Card on file. A
101:07 way for them to pay. Card on file. A chair on top of all this upsell
101:09 chair on top of all this upsell goodness. I literally ask, do you want
101:11 goodness. I literally ask, do you want to use the card you have on file? Here,
101:13 to use the card you have on file? Here, instead of asking if they want to pay or
101:14 instead of asking if they want to pay or not, you refer to ways they already
101:16 not, you refer to ways they already have. This gets more people to buy
101:18 have. This gets more people to buy because it lowers the hidden costs of
101:20 because it lowers the hidden costs of buying. Picking which card to use,
101:21 buying. Picking which card to use, taking it out, being reminded of the
101:23 taking it out, being reminded of the ugly buying decisions in the past, even
101:24 ugly buying decisions in the past, even the hassle of buying stuff in a rush,
101:26 the hassle of buying stuff in a rush, and who knows how many more. Just know
101:29 and who knows how many more. Just know if you make it easier for people to buy,
101:31 if you make it easier for people to buy, more people will. This took me 10 years
101:33 more people will. This took me 10 years to learn. May you get the same value in
101:35 to learn. May you get the same value in 10 minutes. Examples: massage therapist.
101:38 10 minutes. Examples: massage therapist. Unell. We have a lymphatic massage
101:41 Unell. We have a lymphatic massage available, but you're not pregnant or
101:43 available, but you're not pregnant or just out of surgery, right? So, we can
101:44 just out of surgery, right? So, we can cross that out. Prescribe. Since your
101:47 cross that out. Prescribe. Since your shoulder hurts, we'll heat you up first,
101:49 shoulder hurts, we'll heat you up first, then hit your trigger points, and after
101:50 then hit your trigger points, and after that, we'll do some dynamic stretches.
101:52 that, we'll do some dynamic stretches. AB: So, would you rather do it before
101:54 AB: So, would you rather do it before work or on your way home? Card on file.
101:56 work or on your way home? Card on file. Want to just use the card on file?
102:00 Want to just use the card on file? Dog food. Unsell. You're not going to
102:02 Dog food. Unsell. You're not going to need this small bag or this puppy stuff.
102:04 need this small bag or this puppy stuff. You've got a big dog. You don't need
102:06 You've got a big dog. You don't need these vitamins either because we've got
102:07 these vitamins either because we've got that in the food already. prescribe.
102:10 that in the food already. prescribe. You're also going to want to give your
102:11 You're also going to want to give your dog one of these joint chews at each
102:13 dog one of these joint chews at each meal. And every 90 days, give them one
102:15 meal. And every 90 days, give them one of these wafers for heartworms. Also,
102:17 of these wafers for heartworms. Also, make sure you bring them back next
102:18 make sure you bring them back next month. Let's get that book now. AB: So,
102:21 month. Let's get that book now. AB: So, does your dog prefer beef or chicken
102:23 does your dog prefer beef or chicken flavor? Card on file. Want to just use
102:25 flavor? Card on file. Want to just use the card on file digital product.
102:28 the card on file digital product. Unsell.
102:29 Unsell. You don't need all eight courses yet.
102:31 You don't need all eight courses yet. You just need to solve X, Y, and Z. Tell
102:33 You just need to solve X, Y, and Z. Tell you what, I'll send you some free stuff
102:35 you what, I'll send you some free stuff that'll solve problems X and Y. then
102:37 that'll solve problems X and Y. then you'll just need one course for problem
102:39 you'll just need one course for problem Z prescribe. But to solve problem C,
102:42 Z prescribe. But to solve problem C, you're definitely going to want to do
102:43 you're definitely going to want to do this course this particular way. Can you
102:45 this course this particular way. Can you put an hour a day towards it? Okay,
102:47 put an hour a day towards it? Okay, great. This will prevent any other Z
102:49 great. This will prevent any other Z problems cropping up later. AB, would
102:51 problems cropping up later. AB, would you rather have direct messages or phone
102:53 you rather have direct messages or phone support? Okay, great. And would you like
102:55 support? Okay, great. And would you like to start today or Monday?
102:57 to start today or Monday? Card on file. Awesome. Want to just use
102:59 Card on file. Awesome. Want to just use the card on file? Pro tip. Card on file
103:02 the card on file? Pro tip. Card on file for first purchases. What do you want to
103:04 for first purchases. What do you want to use? Pro tip. If you don't have the card
103:07 use? Pro tip. If you don't have the card on file, you get it on file by asking
103:09 on file, you get it on file by asking which card they want to use. Important
103:12 which card they want to use. Important notes. Make anything AB sellable. You
103:15 notes. Make anything AB sellable. You can turn anything into an AB offer just
103:18 can turn anything into an AB offer just to give you a few ideas. Quantity, do
103:20 to give you a few ideas. Quantity, do you want one bottle or two? Start dates.
103:23 you want one bottle or two? Start dates. Start tomorrow or Monday. Payment
103:25 Start tomorrow or Monday. Payment preference. Cash or card. Flavors:
103:28 preference. Cash or card. Flavors: chocolate or vanilla. Time slots,
103:30 chocolate or vanilla. Time slots, morning or afternoon. Media, read or
103:32 morning or afternoon. Media, read or listen. Delivery speeds, standard or
103:34 listen. Delivery speeds, standard or overnight. Sizes: small or medium.
103:37 overnight. Sizes: small or medium. Colors: black or white. Materials, paper
103:39 Colors: black or white. Materials, paper or plastic. Personnel, John or Sarah.
103:42 or plastic. Personnel, John or Sarah. Communication, call or text. With some
103:44 Communication, call or text. With some creativity, you can make anything an AB
103:46 creativity, you can make anything an AB upsell. If you make an AB offer, add a
103:49 upsell. If you make an AB offer, add a nudge. If your customers have limited
103:51 nudge. If your customers have limited experience with your products or
103:52 experience with your products or service, give them a nudge. This is my
103:54 service, give them a nudge. This is my favorite. Or X is usually a safe bet or
103:57 favorite. Or X is usually a safe bet or a lot of people love this. Or Tuesday
103:59 a lot of people love this. Or Tuesday sessions are a little smaller if you
104:00 sessions are a little smaller if you like that. Or Amy does great with high
104:02 like that. Or Amy does great with high schoolers. These oneliners really help
104:05 schoolers. These oneliners really help move sales along. Hint, if you want to
104:08 move sales along. Hint, if you want to move one particular product faster,
104:10 move one particular product faster, nudge that one more. If you've sold out
104:12 nudge that one more. If you've sold out of it, take payment and delay delivery.
104:14 of it, take payment and delay delivery. Later, I learned I could just sell
104:16 Later, I learned I could just sell stuff, order it, and then set the
104:18 stuff, order it, and then set the expectation of when it will arrive. This
104:20 expectation of when it will arrive. This allowed me to sell way more selection
104:22 allowed me to sell way more selection because I didn't have to carry
104:23 because I didn't have to carry inventory. If you run out, consider
104:25 inventory. If you run out, consider collecting the cash and changing the
104:27 collecting the cash and changing the delivery expectation. You'd be surprised
104:28 delivery expectation. You'd be surprised how well this works. Employees love
104:31 how well this works. Employees love unselling. Employees often like helping
104:34 unselling. Employees often like helping customers game the system. Let them
104:36 customers game the system. Let them encourage customers to help customers
104:38 encourage customers to help customers gain the system on purpose. Your
104:40 gain the system on purpose. Your employees have insider knowledge, so
104:42 employees have insider knowledge, so allow them to show customers how to get
104:43 allow them to show customers how to get the most value out of what you have to
104:45 the most value out of what you have to offer. Everyone wins.
104:48 offer. Everyone wins. Pro tip: The Economist play. If you have
104:52 Pro tip: The Economist play. If you have two options and want people to buy both.
104:54 two options and want people to buy both. In the late 1990s, The Economist
104:56 In the late 1990s, The Economist magazine started offering a digital
104:57 magazine started offering a digital subscription because more people got
104:59 subscription because more people got their news online. But it also wanted to
105:01 their news online. But it also wanted to keep its profitable print subscription.
105:03 keep its profitable print subscription. So, thinking people would buy both, The
105:04 So, thinking people would buy both, The Economist offered the following: a
105:06 Economist offered the following: a digital subscription for $59 a year, a
105:09 digital subscription for $59 a year, a digital plus print subscription for 125
105:11 digital plus print subscription for 125 a year. Result: Print sales plummeted as
105:13 a year. Result: Print sales plummeted as customers flocked to the cheaper option.
105:15 customers flocked to the cheaper option. Oops. To fix it, they added a decoy
105:18 Oops. To fix it, they added a decoy option for the same price as the bundle.
105:20 option for the same price as the bundle. So option A digital subscription $59 a
105:23 So option A digital subscription $59 a year. Option B print subscription
105:26 year. Option B print subscription only125 a year. C digital plus print
105:30 only125 a year. C digital plus print subscription also 125 a year. Result
105:33 subscription also 125 a year. Result customers now took C digital plus print
105:36 customers now took C digital plus print subscription for 125 a year. Bottom line
105:39 subscription for 125 a year. Bottom line present three options. Option A, option
105:41 present three options. Option A, option B, option C, which is both. But you make
105:44 B, option C, which is both. But you make the price of C the same as the more
105:46 the price of C the same as the more expensive option B. So, as long as you
105:47 expensive option B. So, as long as you price the options to preserve your
105:49 price the options to preserve your margins, you make the customer's choice
105:50 margins, you make the customer's choice easy and sell both. Summary points. Menu
105:54 easy and sell both. Summary points. Menu upsells work best when you have multiple
105:55 upsells work best when you have multiple offers available. Menu upsells combine
105:58 offers available. Menu upsells combine up to four tactics. Unselling, you tell
106:00 up to four tactics. Unselling, you tell customers what they don't need.
106:01 customers what they don't need. Prescribing, you tell them what they do
106:03 Prescribing, you tell them what they do need. AB offer, ask them which they
106:05 need. AB offer, ask them which they prefer. And last, make the buying easy
106:07 prefer. And last, make the buying easy by asking if they want to use the card
106:09 by asking if they want to use the card on file. Unselling lower margin stuff
106:11 on file. Unselling lower margin stuff where appropriate incentivizes higher
106:13 where appropriate incentivizes higher margin upsells. Encourage employees to
106:15 margin upsells. Encourage employees to unsell and game the system on purpose.
106:17 unsell and game the system on purpose. Nudge new customers toward what makes
106:19 Nudge new customers toward what makes sense for them. Free gift. Watch the
106:22 sense for them. Free gift. Watch the menu upsell training. I rarely make
106:24 menu upsell training. I rarely make commands. Just do it. Watch it. I could
106:26 commands. Just do it. Watch it. I could teach a master class on this upsell.
106:28 teach a master class on this upsell. It's made me millions. That's it. Just
106:30 It's made me millions. That's it. Just go to acquisition.com/training/money.
106:32 go to acquisition.com/training/money. Yes, it's free. No, you won't be sorry.
106:34 Yes, it's free. No, you won't be sorry. Anchor upsell. The only thing worse than
106:36 Anchor upsell. The only thing worse than making a $1,000 offer to a person with a
106:38 making a $1,000 offer to a person with a $100 budget is making a $100 offer to
106:40 $100 budget is making a $100 offer to someone with a $1,000 budget. 2016 after
106:43 someone with a $1,000 budget. 2016 after starting gym launch but before making
106:45 starting gym launch but before making money. I had spent my last five years
106:47 money. I had spent my last five years showerless in sweats and a tank top. But
106:50 showerless in sweats and a tank top. But now I had gym launch and a fashionable
106:51 now I had gym launch and a fashionable friend said I should look professional.
106:53 friend said I should look professional. Businessmen don't wear tank tops, Alex.
106:55 Businessmen don't wear tank tops, Alex. I know the owner of a local suit shop.
106:57 I know the owner of a local suit shop. I'll tell him you're coming. I took his
106:58 I'll tell him you're coming. I took his advice and went. So I budgeted $500 for
107:01 advice and went. So I budgeted $500 for a suit, which was a big purchase for me
107:03 a suit, which was a big purchase for me at the time. I walked into the suit shop
107:05 at the time. I walked into the suit shop and made small talk. He knew I was
107:07 and made small talk. He knew I was coming. Wow. I told him I just started a
107:09 coming. Wow. I told him I just started a new business and wanted a boss suit. He
107:11 new business and wanted a boss suit. He took my measurements, then grabbed two
107:13 took my measurements, then grabbed two suits off the rack. I put the first one
107:15 suits off the rack. I put the first one on. How does it look? How's it feel? He
107:17 on. How does it look? How's it feel? He asked. I smiled. I felt cool, like a
107:21 asked. I smiled. I felt cool, like a rich guy. It was nice. He talked about
107:24 rich guy. It was nice. He talked about some accessories, but I didn't listen
107:25 some accessories, but I didn't listen much. I was too cool to listen now. Ha.
107:28 much. I was too cool to listen now. Ha. This was going to be awesome. He turned
107:29 This was going to be awesome. He turned to talk to an employee. I flipped the
107:31 to talk to an employee. I flipped the price tag over so I could see it.
107:32 price tag over so I could see it. $16,000.
107:34 $16,000. My face turned red. All I could think of
107:37 My face turned red. All I could think of was my friend who asked the owner to
107:38 was my friend who asked the owner to make time for me. I couldn't even afford
107:40 make time for me. I couldn't even afford anything here. I felt horrible. I kept
107:43 anything here. I felt horrible. I kept my head down, try and hide my shock. I
107:45 my head down, try and hide my shock. I took a deep breath and looked up. I
107:47 took a deep breath and looked up. I failed. He had seen me blush. Coming to
107:50 failed. He had seen me blush. Coming to my aid, he asked, "Do you care about the
107:52 my aid, he asked, "Do you care about the designer much?" "Not at all." Almost
107:54 designer much?" "Not at all." Almost before I finished replying, the owner
107:56 before I finished replying, the owner rolled around and draped the next suit
107:57 rolled around and draped the next suit over my shoulder. "Try this one on for
107:59 over my shoulder. "Try this one on for size," he said. I looked in the mirror.
108:00 size," he said. I looked in the mirror. "Looks good." Then I looked down at the
108:02 "Looks good." Then I looked down at the price tag. $2,200. It wasn't 500, but it
108:05 price tag. $2,200. It wasn't 500, but it wasn't 16 grand either. Sigh of relief.
108:08 wasn't 16 grand either. Sigh of relief. Yeah, this works. I'll take this one. He
108:09 Yeah, this works. I'll take this one. He winked and nodded. You got it, boss.
108:12 winked and nodded. You got it, boss. The owner sold me some socks, a
108:14 The owner sold me some socks, a handkerchief, and a shirt to go with it.
108:15 handkerchief, and a shirt to go with it. All in, another $300. But after seeing
108:18 All in, another $300. But after seeing the $16,000 price tag on the fursuit,
108:20 the $16,000 price tag on the fursuit, everything seemed cheap. Looking back,
108:22 everything seemed cheap. Looking back, this wasn't the owner's first rodeo. He
108:24 this wasn't the owner's first rodeo. He was a real pro. I spent five times more
108:26 was a real pro. I spent five times more than I had budgeted, and I felt okay
108:28 than I had budgeted, and I felt okay about it. I only later realized he used
108:31 about it. I only later realized he used a price anchor description. With anchor
108:33 a price anchor description. With anchor upsells, you offer premium stuff first.
108:35 upsells, you offer premium stuff first. If the customer gasps, you offer a
108:37 If the customer gasps, you offer a cheaper but acceptable alternative.
108:40 cheaper but acceptable alternative. Basically, if you present your main
108:41 Basically, if you present your main offer, some people will buy it. Duh. But
108:43 offer, some people will buy it. Duh. But if you present a premium version that's
108:45 if you present a premium version that's 5 to 10 times the price first, lots of
108:47 5 to 10 times the price first, lots of people will say no. Then when you
108:49 people will say no. Then when you present your main offer, it looks like a
108:50 present your main offer, it looks like a much better deal. So more people will
108:52 much better deal. So more people will buy it. Aha, that's the power of anchor
108:55 buy it. Aha, that's the power of anchor upsells. Anchor upsells work best when
108:57 upsells. Anchor upsells work best when lower price offer has the same core
108:59 lower price offer has the same core function as the premium one. For
109:01 function as the premium one. For instance, I didn't care about the
109:03 instance, I didn't care about the designer that much. I just needed a
109:04 designer that much. I just needed a suit. So, compared to the $16,000 suit,
109:06 suit. So, compared to the $16,000 suit, the $2,200 suit was a way better deal.
109:09 the $2,200 suit was a way better deal. Ankor upsells also have two amazing
109:10 Ankor upsells also have two amazing bonuses. First, anchored customers spend
109:13 bonuses. First, anchored customers spend more than they normally would. Second,
109:14 more than they normally would. Second, some customers will still buy the super
109:16 some customers will still buy the super expensive thing. Here are the steps.
109:19 expensive thing. Here are the steps. One, present the anchor, the really
109:21 One, present the anchor, the really expensive thing. Two, get the gasp.
109:24 expensive thing. Two, get the gasp. Expect the customer to freak out about
109:25 Expect the customer to freak out about the cost. Three, come to the rescue. Ask
109:28 the cost. Three, come to the rescue. Ask if they care what makes it premium.
109:30 if they care what makes it premium. Four, present your main offer. Expect
109:32 Four, present your main offer. Expect the customer to feel relieved and see
109:34 the customer to feel relieved and see the better deal. Step five, ask how they
109:37 the better deal. Step five, ask how they want to pay. Which card would you
109:38 want to pay. Which card would you prefer? Pro tip. The only thing worse
109:41 prefer? Pro tip. The only thing worse than making a $1,000 offer to a person
109:42 than making a $1,000 offer to a person with a $100 budget is making a $100
109:44 with a $100 budget is making a $100 offer to someone with $1,000 budget. In
109:46 offer to someone with $1,000 budget. In the first situation, you lose $100. In
109:48 the first situation, you lose $100. In the second, you lose 900. I've lost tons
109:50 the second, you lose 900. I've lost tons of customers and mountains of cash
109:52 of customers and mountains of cash because customers wanted more than I had
109:53 because customers wanted more than I had to offer. Boo. So now I always have
109:56 to offer. Boo. So now I always have premium upsells ready. Only a handful of
109:58 premium upsells ready. Only a handful of customers buy them, but that handful of
109:59 customers buy them, but that handful of customers bring in big profits. So,
110:02 customers bring in big profits. So, always have premium offers even if most
110:03 always have premium offers even if most people don't buy. Remember, you won't
110:05 people don't buy. Remember, you won't lose customers by offering premium stuff
110:07 lose customers by offering premium stuff first. You will lose money if you don't.
110:09 first. You will lose money if you don't. Examples: local service, lawn care,
110:12 Examples: local service, lawn care, premium, get my cell phone number, fancy
110:15 premium, get my cell phone number, fancy mulch, natural pest control, bi-weekly
110:17 mulch, natural pest control, bi-weekly yard maintenance, $1,000 a week. Main
110:19 yard maintenance, $1,000 a week. Main offer, get my team's number, generic
110:21 offer, get my team's number, generic mulch, normal pest control, bi-weekly
110:23 mulch, normal pest control, bi-weekly yard maintenance, $200 a week. Physical
110:26 yard maintenance, $200 a week. Physical product, a painting. Premium offer,
110:29 product, a painting. Premium offer, super productive packaging, 20-year
110:31 super productive packaging, 20-year insurance, plus gift wrapped, $1,000.
110:34 insurance, plus gift wrapped, $1,000. Main offer, normal packaging, one-year
110:36 Main offer, normal packaging, one-year insurance, and a sticker, $200.
110:39 insurance, and a sticker, $200. Digital product, newsletter, premium
110:41 Digital product, newsletter, premium maker, all previous issues, new issues,
110:44 maker, all previous issues, new issues, 24-hour early access, $1.99 a month.
110:46 24-hour early access, $1.99 a month. Main offer, new issues only, plus on
110:49 Main offer, new issues only, plus on time, $19 a month. Important notes. If
110:53 time, $19 a month. Important notes. If you treat the anchor like a fake, so
110:55 you treat the anchor like a fake, so will the customer. Some people hear
110:57 will the customer. Some people hear about this technique, try it, gloss over
110:59 about this technique, try it, gloss over the premium payment, and then say that
111:00 the premium payment, and then say that it doesn't work. If you do that, then
111:02 it doesn't work. If you do that, then the person never really considered it
111:04 the person never really considered it because you never really offered it. You
111:05 because you never really offered it. You just went through the motions. For this
111:07 just went through the motions. For this to work, you need to actually sell it,
111:09 to work, you need to actually sell it, and they have to actually consider it.
111:11 and they have to actually consider it. Only after they pause, hesitate, or ask
111:13 Only after they pause, hesitate, or ask for something else do you move on to the
111:14 for something else do you move on to the next thing. Make a premium offer you
111:16 next thing. Make a premium offer you actually want people to buy. A friend of
111:18 actually want people to buy. A friend of mine struggled to get this working. I
111:20 mine struggled to get this working. I only had to listen to one call to figure
111:22 only had to listen to one call to figure out the problem. He made up some BS that
111:23 out the problem. He made up some BS that he didn't really want them to buy. So,
111:25 he didn't really want them to buy. So, we tweaked the offer to something he
111:26 we tweaked the offer to something he would actually feel happy to deliver if
111:28 would actually feel happy to deliver if someone paid. And they did, tripling his
111:31 someone paid. And they did, tripling his profits. Actually present your premium
111:34 profits. Actually present your premium offer like you want people to take it.
111:36 offer like you want people to take it. And when you do, some will, and if they
111:37 And when you do, some will, and if they don't, you still anchored them. A proper
111:40 don't, you still anchored them. A proper anchor gets the gasp. When you do an
111:42 anchor gets the gasp. When you do an anchor upsell correctly, customers will
111:44 anchor upsell correctly, customers will have a mini panic attack. I call this
111:46 have a mini panic attack. I call this the gasp. Gasps used to really stress me
111:48 the gasp. Gasps used to really stress me out when I was selling, but then I
111:50 out when I was selling, but then I realized something huge. The bigger the
111:51 realized something huge. The bigger the gasp, the more they bought. Once you get
111:53 gasp, the more they bought. Once you get the gasp, come to the rescue. In the
111:55 the gasp, come to the rescue. In the story, I gave the gasp. Then the sales
111:58 story, I gave the gasp. Then the sales pro saved my ego by asking if I cared
112:00 pro saved my ego by asking if I cared about the designer. When I said no, he
112:02 about the designer. When I said no, he presented the next suit. Here's the key
112:04 presented the next suit. Here's the key point. He already had the 1/8 priced
112:07 point. He already had the 1/8 priced suit pulled up before my reaction. He
112:10 suit pulled up before my reaction. He knew I would probably gasp. And if your
112:12 knew I would probably gasp. And if your customers don't gasp, then they probably
112:14 customers don't gasp, then they probably find your premium offer reasonable. So,
112:16 find your premium offer reasonable. So, just ask if they want to use the card on
112:18 just ask if they want to use the card on file. Go for it. Just don't do a gasp of
112:21 file. Go for it. Just don't do a gasp of your own when they say yes. You're
112:22 your own when they say yes. You're welcome. You can buy me a beer later. To
112:24 welcome. You can buy me a beer later. To get more people to buy your main offer,
112:26 get more people to buy your main offer, make it a better deal. Only tweak a few
112:28 make it a better deal. Only tweak a few features from your premium offer to make
112:30 features from your premium offer to make your main offer. Every offer has
112:32 your main offer. Every offer has features. Some features matter more than
112:34 features. Some features matter more than others. You want the primary features to
112:36 others. You want the primary features to stay the same. Fewer people care about
112:38 stay the same. Fewer people care about the secondary features, so change those.
112:40 the secondary features, so change those. This allows customers to get the same
112:41 This allows customers to get the same primary features and a way better deal.
112:44 primary features and a way better deal. Most people just want a suit. A few
112:46 Most people just want a suit. A few people want a fancy suit. A suit is a
112:48 people want a fancy suit. A suit is a primary feature. The material, designer,
112:50 primary feature. The material, designer, etc. is secondary. After anchoring,
112:53 etc. is secondary. After anchoring, offering the primary feature for one
112:55 offering the primary feature for one fifth the price makes the main offer a
112:57 fifth the price makes the main offer a great deal. Summary. If you present a
113:00 great deal. Summary. If you present a more expensive offer before a less
113:02 more expensive offer before a less expensive offer, more people buy the
113:04 expensive offer, more people buy the less expensive offer than they would
113:05 less expensive offer than they would have on its own. Present anchor. Get
113:08 have on its own. Present anchor. Get gasp. Come to the rescue. Present core
113:10 gasp. Come to the rescue. Present core offer. Ask for payment. For the most
113:12 offer. Ask for payment. For the most effective anchor, make your premium five
113:14 effective anchor, make your premium five to 10 times more expensive than your
113:15 to 10 times more expensive than your core offer. Anchored customers spend a
113:18 core offer. Anchored customers spend a bit more than they plan to. Don't treat
113:20 bit more than they plan to. Don't treat the anchor like a fake or the customers
113:22 the anchor like a fake or the customers will too. You lose trust and waste time.
113:24 will too. You lose trust and waste time. Important. Some customers will buy the
113:26 Important. Some customers will buy the premium offer. Expensive premium offers
113:29 premium offer. Expensive premium offers adds profits even with just a few sales.
113:32 adds profits even with just a few sales. The main offer and the premium offer
113:34 The main offer and the premium offer should have the same primary features.
113:36 should have the same primary features. The premium offer has different
113:38 The premium offer has different secondary aka premium features. After
113:41 secondary aka premium features. After anchoring, offering the primary features
113:43 anchoring, offering the primary features for one fit the price makes the main
113:45 for one fit the price makes the main offer a great deal. It gives them
113:46 offer a great deal. It gives them basically the same thing for way less.
113:49 basically the same thing for way less. Free gift anchor upsell training. This
113:52 Free gift anchor upsell training. This thing can help you make insane amounts
113:53 thing can help you make insane amounts of profit overnight. Truly
113:55 of profit overnight. Truly life-changing. I made an additional
113:57 life-changing. I made an additional video for you on it. Don't worry, it's
113:59 video for you on it. Don't worry, it's free. Watch it at
114:00 free. Watch it at acquisition.com/training/money.
114:05 Rollover upsell. Want to just roll it forward? June 2014. I've been running a
114:09 forward? June 2014. I've been running a win your money back offer, attraction
114:10 win your money back offer, attraction offer number one, at my gym for the last
114:12 offer number one, at my gym for the last year, a $600 fitness program where
114:14 year, a $600 fitness program where members could win their money back if
114:16 members could win their money back if they hit a goal. It crushed. I sold tons
114:18 they hit a goal. It crushed. I sold tons of them. But there was a problem. Good
114:20 of them. But there was a problem. Good gyms have lots of recurring revenue. I
114:22 gyms have lots of recurring revenue. I had none. Most winners put their $600
114:24 had none. Most winners put their $600 towards 3 months membership. Fine. But
114:26 towards 3 months membership. Fine. But then they turnurned out before their
114:27 then they turnurned out before their first out-of- pocket payment. So I
114:28 first out-of- pocket payment. So I essentially sold buy six weeks, get
114:30 essentially sold buy six weeks, get three months free, then they'd leave.
114:32 three months free, then they'd leave. Not fine. That $600 thing was my only
114:34 Not fine. That $600 thing was my only source of income. So, even though I got
114:36 source of income. So, even though I got a bunch of people in the door, my
114:38 a bunch of people in the door, my revenue started at zero every month. It
114:39 revenue started at zero every month. It was stressful. I had to figure out a
114:41 was stressful. I had to figure out a better way to boost profit. That's when
114:43 better way to boost profit. That's when my friend Justin posted about how he
114:45 my friend Justin posted about how he added another 100 members to his
114:46 added another 100 members to his recurring revenue. He also attracted
114:48 recurring revenue. He also attracted customers with a win-win money back
114:49 customers with a win-win money back offer, but there was one difference. My
114:51 offer, but there was one difference. My customers left and his kept buying
114:53 customers left and his kept buying stuff. So, I invited myself over to Spy
114:55 stuff. So, I invited myself over to Spy Auto. He was totally cool with it. I
114:57 Auto. He was totally cool with it. I spent two days there and he and I ran
114:59 spent two days there and he and I ran some things differently, but nothing
115:01 some things differently, but nothing that explained why he was doing so much
115:02 that explained why he was doing so much better than me. Do you get lots of
115:04 better than me. Do you get lots of people wanting their money back? Yeah,
115:06 people wanting their money back? Yeah, he said. Then how do you deal with all
115:08 he said. Then how do you deal with all the free time you have to give away?
115:09 the free time you have to give away? Free time? Ha. I just roll over their
115:11 Free time? Ha. I just roll over their winnings into a year-long membership.
115:13 winnings into a year-long membership. What? Yeah, we have to do that so they
115:16 What? Yeah, we have to do that so they can spread the money out. Spread the
115:17 can spread the money out. Spread the money? What are you talking about?
115:18 money? What are you talking about? Seriously? What? You give it all up
115:20 Seriously? What? You give it all up front? He didn't wait for me to answer.
115:22 front? He didn't wait for me to answer. We just give them 50 bucks off per month
115:24 We just give them 50 bucks off per month for a year. So even if they want their
115:26 for a year. So even if they want their money back, they start paying
115:27 money back, they start paying immediately. Of course, I don't want
115:29 immediately. Of course, I don't want people not paying. Sort of business
115:30 people not paying. Sort of business doesn't have paying customers. He
115:31 doesn't have paying customers. He laughed. They still get their money
115:33 laughed. They still get their money back. It just takes a year. Boom. This
115:36 back. It just takes a year. Boom. This was it. The missing link in my money
115:37 was it. The missing link in my money model. This one thing, the rollover
115:41 model. This one thing, the rollover upsell, changed my life, thousands of
115:43 upsell, changed my life, thousands of gym owners lives, and the lives of our
115:45 gym owners lives, and the lives of our customers. The rollover upsell changed
115:48 customers. The rollover upsell changed everything. Now, instead of hoping
115:50 everything. Now, instead of hoping customers spend money again, I roll over
115:52 customers spend money again, I roll over the cost of what they just bought
115:53 the cost of what they just bought towards the next thing. And when paired
115:55 towards the next thing. And when paired with more expensive offers, it
115:56 with more expensive offers, it skyrockets 30-day profits. And although
115:59 skyrockets 30-day profits. And although I learned the rollover upsell this way,
116:01 I learned the rollover upsell this way, you don't need a win your money back
116:02 you don't need a win your money back offer to use it. You can roll over
116:03 offer to use it. You can roll over upsell anyone, anything, even stuff
116:05 upsell anyone, anything, even stuff people bought at other businesses.
116:08 people bought at other businesses. I'll explain later. Description:
116:10 I'll explain later. Description: Rollover upsells credit some or all of a
116:12 Rollover upsells credit some or all of a customer's previous purchase towards
116:14 customer's previous purchase towards your next offer. And this, in my
116:16 your next offer. And this, in my experience, gets way more people to take
116:17 experience, gets way more people to take it. So once I know how much credit to
116:19 it. So once I know how much credit to give, I figure out three things. Who to
116:21 give, I figure out three things. Who to upsell, what to upsell, and how to roll
116:23 upsell, what to upsell, and how to roll over the credit. For the who, I use
116:26 over the credit. For the who, I use rollover or upsells in four situations.
116:28 rollover or upsells in four situations. First, to re-engage customers who left a
116:30 First, to re-engage customers who left a while ago. Second, to rescue upsell
116:32 while ago. Second, to rescue upsell customers as a better alternative to a
116:34 customers as a better alternative to a refund. Third, to rescue other people's
116:36 refund. Third, to rescue other people's upset customers. And fourth, to upsell
116:39 upset customers. And fourth, to upsell regular customers. For the what,
116:41 regular customers. For the what, remember that you can upsell more what
116:42 remember that you can upsell more what they just got, something better or
116:43 they just got, something better or something new and different. To make
116:45 something new and different. To make money, roll their credit over to
116:46 money, roll their credit over to something more expensive.
116:48 something more expensive. For the how, you can apply all or part
116:50 For the how, you can apply all or part of the discount upfront or spread it
116:51 of the discount upfront or spread it over time.
116:54 over time. Examples of rollover upsells.
116:56 Examples of rollover upsells. Chiropractor re-engage old patients with
116:58 Chiropractor re-engage old patients with a win back campaign. Who? Customers with
117:01 a win back campaign. Who? Customers with six months since their last purchase.
117:04 six months since their last purchase. What? New plan. How? Upfront. Reach out
117:08 What? New plan. How? Upfront. Reach out to your old patients. Look at their
117:09 to your old patients. Look at their purchase history. Offer to apply some or
117:11 purchase history. Offer to apply some or all their past purchases towards
117:13 all their past purchases towards something more expensive than what they
117:14 something more expensive than what they bought. For example, hi Mrs. Banks. I
117:18 bought. For example, hi Mrs. Banks. I wanted to give your money back. Do you
117:19 wanted to give your money back. Do you have a minute? Great. Yeah. I want to
117:22 have a minute? Great. Yeah. I want to see how your back pain was going. Oh,
117:24 see how your back pain was going. Oh, I'm sorry to hear that. Well, I've got
117:26 I'm sorry to hear that. Well, I've got some good news. As a way of saying thank
117:27 some good news. As a way of saying thank you, I want to give you $500 of your
117:29 you, I want to give you $500 of your money back as credit towards staying
117:30 money back as credit towards staying painfree for good. Is that of any
117:32 painfree for good. Is that of any interest? Great. Let's get you in.
117:35 interest? Great. Let's get you in. Dentist,
117:37 Dentist, save your own upset customer with
117:38 save your own upset customer with rollover upsell.
117:40 rollover upsell. Who? Upset customer. What? Teeth
117:43 Who? Upset customer. What? Teeth whitening. How? Frontload $200 credit.
117:45 whitening. How? Frontload $200 credit. The person pays $200 for teeth cleaning
117:47 The person pays $200 for teeth cleaning but doesn't think their teeth got
117:48 but doesn't think their teeth got whiter. We explain they need to get more
117:49 whiter. We explain they need to get more than one and upsell teeth whitening
117:51 than one and upsell teeth whitening package which includes multiple sessions
117:54 package which includes multiple sessions and at home kit and multiple deep
117:55 and at home kit and multiple deep cleanings. You offer to credit the $200
117:58 cleanings. You offer to credit the $200 they paid for the cleaning towards the
117:59 they paid for the cleaning towards the whitening package software rescue cough
118:03 whitening package software rescue cough steal other people's upset customers.
118:05 steal other people's upset customers. Who competitors customers what service
118:09 Who competitors customers what service agreement? How rollover cost to break
118:11 agreement? How rollover cost to break old agreement?
118:13 old agreement? You find competitors upset customers and
118:15 You find competitors upset customers and credit their old purchase with them
118:16 credit their old purchase with them towards a new purchase with you. Roll
118:19 towards a new purchase with you. Roll over the amount they owe with them as a
118:20 over the amount they owe with them as a credit towards a longer agreement with
118:22 credit towards a longer agreement with you. Example: hi John, I saw your
118:25 you. Example: hi John, I saw your negative review on their product and it
118:26 negative review on their product and it really upset me. To make it up to you,
118:28 really upset me. To make it up to you, I'll credit whatever payments you have
118:29 I'll credit whatever payments you have left with them to switch to ours. This
118:31 left with them to switch to ours. This way, you don't lose a thing and you
118:33 way, you don't lose a thing and you start giving the benefits now. Fair
118:34 start giving the benefits now. Fair enough. Membership.
118:37 enough. Membership. Spread first purchase over a term. Who?
118:39 Spread first purchase over a term. Who? Current customers. What? 12-month
118:40 Current customers. What? 12-month membership. How? spread first purchase.
118:44 membership. How? spread first purchase. Somebody buys a small block of service
118:45 Somebody buys a small block of service or membership time. As soon as they do,
118:47 or membership time. As soon as they do, you can offer to apply the entire amount
118:48 you can offer to apply the entire amount towards more time, like 12 months. I can
118:51 towards more time, like 12 months. I can do the rollover upsell at any time. I
118:53 do the rollover upsell at any time. I just prefer to do it right then. When
118:54 just prefer to do it right then. When you do, you take the first purchase's
118:56 you do, you take the first purchase's cost and apply it as a discount over the
118:57 cost and apply it as a discount over the longer agreement. For example, a $600
119:00 longer agreement. For example, a $600 first purchase makes a $50 a month
119:02 first purchase makes a $50 a month rollover discount for 12 months.
119:04 rollover discount for 12 months. Important notes. Use rollover offers to
119:07 Important notes. Use rollover offers to attract new customers. For example, you
119:09 attract new customers. For example, you roll over some or all of what a
119:10 roll over some or all of what a customers paid somebody else towards
119:11 customers paid somebody else towards your thing. You can find leads for this
119:13 your thing. You can find leads for this by scraping contact information from
119:15 by scraping contact information from negative product reviews where
119:16 negative product reviews where available. Voila, a hot new leads list
119:18 available. Voila, a hot new leads list of people who want what you have. Bonus.
119:21 of people who want what you have. Bonus. Create a way for people to complain
119:22 Create a way for people to complain about products in your industry. Think
119:23 about products in your industry. Think of media where people can leave
119:24 of media where people can leave comments. Then roll over upsell all of
119:27 comments. Then roll over upsell all of them. Nasty. Do rollover upsells before
119:29 them. Nasty. Do rollover upsells before refunding.
119:31 refunding. This has saved me tons of customers and
119:33 This has saved me tons of customers and cash. If you did a bad job, hey, it
119:35 cash. If you did a bad job, hey, it happens. Roll over for a doover. If they
119:38 happens. Roll over for a doover. If they want something different, roll over
119:39 want something different, roll over their purchase toward that thing
119:40 their purchase toward that thing instead. Previous customers are still
119:43 instead. Previous customers are still customers. Upsell them. Reach out to old
119:46 customers. Upsell them. Reach out to old customers. Six plus months since their
119:48 customers. Six plus months since their last purchase. Look at how much they
119:49 last purchase. Look at how much they paid before. Decide how much you're
119:51 paid before. Decide how much you're willing to roll over. Offer it. Actually
119:53 willing to roll over. Offer it. Actually do this. I call these win back
119:55 do this. I call these win back campaigns. I made personalized videos
119:57 campaigns. I made personalized videos for 200 past customers offering them
119:59 for 200 past customers offering them $4,000 of credit to return. We got about
120:01 $4,000 of credit to return. We got about 20% of the people to take the offer. One
120:04 20% of the people to take the offer. One day recording videos got us an extra
120:05 day recording videos got us an extra $1.9 million in annual revenue. Worth
120:08 $1.9 million in annual revenue. Worth it. Add urgency to rollover upsells.
120:11 it. Add urgency to rollover upsells. Make them one time only. If you're
120:14 Make them one time only. If you're spicy, make the moment you present the
120:16 spicy, make the moment you present the offer the time to take it. A once-in-a-
120:18 offer the time to take it. A once-in-a- customer lifetime offer. They don't get
120:20 customer lifetime offer. They don't get to sleep on it. And yes, I know they
120:22 to sleep on it. And yes, I know they might not expect it. That's the point.
120:24 might not expect it. That's the point. You want a surprise and delight. So, if
120:26 You want a surprise and delight. So, if they want the credit, they got to take
120:27 they want the credit, they got to take it now. If not, no big deal. They can
120:29 it now. If not, no big deal. They can still pay full price later.
120:31 still pay full price later. How to price your rollover upsell. To
120:33 How to price your rollover upsell. To make money on a discounted offer, you
120:35 make money on a discounted offer, you must have profit left over after you
120:36 must have profit left over after you discount it. Since I prefer to make a
120:38 discount it. Since I prefer to make a profit, I try to make the upsell offer
120:40 profit, I try to make the upsell offer at least four times more than the
120:42 at least four times more than the rollover credit. So, even if I apply the
120:44 rollover credit. So, even if I apply the whole amount to the first purchase, it
120:45 whole amount to the first purchase, it discounts 25% at most. Remember, the
120:48 discounts 25% at most. Remember, the rules of discounting apply. Bigger
120:50 rules of discounting apply. Bigger discounts make you less profit per sale,
120:51 discounts make you less profit per sale, but they get more sales.
120:53 but they get more sales. You don't need to credit the entire
120:54 You don't need to credit the entire amount of their first purchase. You can
120:56 amount of their first purchase. You can roll over as much or as little of the
120:58 roll over as much or as little of the first purchase as you choose. I roll
121:00 first purchase as you choose. I roll over whatever amount I think would
121:01 over whatever amount I think would incentivize them to buy the next thing.
121:03 incentivize them to buy the next thing. Test to find the sweet spot. Pro tip, my
121:05 Test to find the sweet spot. Pro tip, my famous gift card play. You can use the
121:08 famous gift card play. You can use the rollover upsell as an attraction offer
121:10 rollover upsell as an attraction offer for new and current customers by
121:12 for new and current customers by advertising gift cards for 90% off.
121:15 advertising gift cards for 90% off. Example, $200 gift cards for $20. Limit
121:18 Example, $200 gift cards for $20. Limit them to two per customer and say they
121:20 them to two per customer and say they can only use them on other people. They
121:22 can only use them on other people. They buy them as gifts and give them to your
121:23 buy them as gifts and give them to your friends. This makes them a great holiday
121:25 friends. This makes them a great holiday offer. When customers buy the card, ask
121:28 offer. When customers buy the card, ask them who they want to make it out to and
121:29 them who they want to make it out to and if they'll make an introduction. Then
121:31 if they'll make an introduction. Then when they come in, roll their gift card
121:33 when they come in, roll their gift card over. Make the value of the card 20% of
121:35 over. Make the value of the card 20% of the price of whatever you want to sell
121:36 the price of whatever you want to sell next. In our example, we sell a $200
121:39 next. In our example, we sell a $200 gift card for 20 bucks. Then apply $200
121:41 gift card for 20 bucks. Then apply $200 of value to an offer with at least a
121:42 of value to an offer with at least a $1,000 price tag. People pay you to
121:45 $1,000 price tag. People pay you to refer their friends. It's pretty great.
121:48 refer their friends. It's pretty great. Plus, you get some pocket change from
121:49 Plus, you get some pocket change from the cards you sold. Summary points.
121:53 the cards you sold. Summary points. Rollover upsells credit some or all of
121:54 Rollover upsells credit some or all of customers previous purchases towards
121:56 customers previous purchases towards your next offer. To do rollover upsells,
121:58 your next offer. To do rollover upsells, figure out who to upsell, what's upsell,
122:01 figure out who to upsell, what's upsell, and how to roll credit over. Who to
122:03 and how to roll credit over. Who to upsell? Old customers, upset customers,
122:05 upsell? Old customers, upset customers, other people's upset customers, your
122:07 other people's upset customers, your current customers. What to upsell? More
122:09 current customers. What to upsell? More of something, better of something,
122:11 of something, better of something, something new, or something different.
122:13 something new, or something different. Just make sure you make a profit after
122:14 Just make sure you make a profit after applying the credit. How to roll the
122:17 applying the credit. How to roll the credit over. Full or partial purchase
122:19 credit over. Full or partial purchase price given upfront or spread it out.
122:22 price given upfront or spread it out. Price your next offer at least four
122:24 Price your next offer at least four times more than the credit you give.
122:26 times more than the credit you give. This makes it a 25% or lower discount to
122:29 This makes it a 25% or lower discount to get more takers. Add urgency. Make your
122:31 get more takers. Add urgency. Make your rollover upsell a onetime offer only.
122:34 rollover upsell a onetime offer only. Free gift. Rollover upsell training.
122:36 Free gift. Rollover upsell training. This is the upsell I use most
122:38 This is the upsell I use most frequently. It has elegant urgency built
122:40 frequently. It has elegant urgency built into it plus Goodwill. I made a video
122:42 into it plus Goodwill. I made a video for you going over some of the scripting
122:43 for you going over some of the scripting so that you can see me do it. It's free.
122:45 so that you can see me do it. It's free. No optin required. Watch it at
122:46 No optin required. Watch it at acquisition.com/training/money.
122:49 acquisition.com/training/money. Upsell offers conclusion. Solve rich
122:50 Upsell offers conclusion. Solve rich people problems. they pay better.
122:53 people problems. they pay better. Anytime you offer something next, you
122:54 Anytime you offer something next, you upsell. Upsells play a key role in money
122:56 upsell. Upsells play a key role in money models by getting more cash upfront for
122:58 models by getting more cash upfront for customers than you otherwise would have.
123:00 customers than you otherwise would have. And if your attraction offer already
123:02 And if your attraction offer already covers cost of getting customers and
123:03 covers cost of getting customers and delivering more money ain't a bad thing.
123:06 delivering more money ain't a bad thing. I showed you the four most powerful
123:07 I showed you the four most powerful upsells I use. The classic upsell, menu
123:09 upsells I use. The classic upsell, menu upsells, anchor upsells, and rollover
123:10 upsells, anchor upsells, and rollover upsells. They are core to my business
123:12 upsells. They are core to my business success. Upsells change everything. Many
123:15 success. Upsells change everything. Many businesses go from burning cash to
123:16 businesses go from burning cash to printing it overnight. But as you know,
123:19 printing it overnight. But as you know, business isn't all sunshine and
123:20 business isn't all sunshine and rainbows. Sometimes people say no. This
123:22 rainbows. Sometimes people say no. This leads us to the next component of a $100
123:24 leads us to the next component of a $100 million money model, downell offers.
123:26 million money model, downell offers. What to do when people say no. Author
123:28 What to do when people say no. Author note. Have a cool new upsell not
123:31 note. Have a cool new upsell not mentioned or see one in the wild? If so,
123:34 mentioned or see one in the wild? If so, I'd love to add it to the collection and
123:36 I'd love to add it to the collection and do a full video breakdown on it. Please
123:38 do a full video breakdown on it. Please send any cool ones you see to
123:40 send any cool ones you see to valueacquisition.com.
123:41 valueacquisition.com. You can follow the same five-step format
123:43 You can follow the same five-step format that I use in all these examples that I
123:45 that I use in all these examples that I give in this book and send any links
123:46 give in this book and send any links that would give extra info if you can.
123:49 that would give extra info if you can. I'll give you credit and publish the
123:51 I'll give you credit and publish the cool ones on my channels. Alex, section
123:53 cool ones on my channels. Alex, section four, downell offers. What to offer when
123:56 four, downell offers. What to offer when they say no? In the last section, we
123:58 they say no? In the last section, we used upsell offers to get people to buy
124:00 used upsell offers to get people to buy more stuff. If we did a good job, we've
124:02 more stuff. If we did a good job, we've turned a profit, too. Another step
124:04 turned a profit, too. Another step forward or beyond. Awesome. But what if
124:06 forward or beyond. Awesome. But what if they say no? We downell them.
124:09 they say no? We downell them. Downselling tweaks the original offer to
124:10 Downselling tweaks the original offer to find the highest value solution for the
124:12 find the highest value solution for the customer's budget. So, any offer you
124:14 customer's budget. So, any offer you make after someone says no is a downell.
124:17 make after someone says no is a downell. I downell in two ways. I change how much
124:20 I downell in two ways. I change how much they pay or what they get. For how they
124:22 they pay or what they get. For how they pay, I balance how much they pay now
124:24 pay, I balance how much they pay now with how much they pay over time. For
124:26 with how much they pay over time. For what they get, I change quantity,
124:27 what they get, I change quantity, quality, or offer something different.
124:30 quality, or offer something different. First, we cover my rules of downselling.
124:32 First, we cover my rules of downselling. They apply to all my downell processes.
124:34 They apply to all my downell processes. Then, when we dive into individual
124:36 Then, when we dive into individual offers, you can hit the ground running
124:38 offers, you can hit the ground running and downell like a pro. How not to
124:40 and downell like a pro. How not to downsell. A real story from a friend. I
124:42 downsell. A real story from a friend. I was buying a car and the salesman tried
124:44 was buying a car and the salesman tried to upsell car insurance. The cost of the
124:45 to upsell car insurance. The cost of the insurance when he first started was
124:47 insurance when he first started was $5,000. I said no, but then he lowered
124:49 $5,000. I said no, but then he lowered the price. And I said no again. He kept
124:51 the price. And I said no again. He kept lowering the price until the same
124:52 lowering the price until the same insurance he first offered for $5,000
124:54 insurance he first offered for $5,000 was now only 400 bucks. I still said no.
124:57 was now only 400 bucks. I still said no. At first, I said no because it was too
124:58 At first, I said no because it was too much money. By the end, I said no
125:00 much money. By the end, I said no because I didn't trust the guy. The
125:01 because I didn't trust the guy. The entire experience felt dirty. Then I
125:03 entire experience felt dirty. Then I wondered, was he ripping me off on the
125:04 wondered, was he ripping me off on the car, too? Now, I didn't want to buy the
125:06 car, too? Now, I didn't want to buy the car from him either. People lower the
125:08 car from him either. People lower the price to close a sale. But even if you
125:09 price to close a sale. But even if you close this one sale, the customer will
125:11 close this one sale, the customer will question every price you offer from that
125:12 question every price you offer from that point going forward and whoever they
125:14 point going forward and whoever they tell. You trade trust for a buck. Not
125:17 tell. You trade trust for a buck. Not worth it. Note, you can offer something
125:19 worth it. Note, you can offer something different for less. You just can't offer
125:21 different for less. You just can't offer the same thing for less. If he had
125:22 the same thing for less. If he had offered different insurance for less
125:24 offered different insurance for less rather than the same insurance for less,
125:25 rather than the same insurance for less, he probably would have kept her trust
125:26 he probably would have kept her trust and closed the sale. The rules of
125:28 and closed the sale. The rules of downselling. Remember, they said no to
125:31 downselling. Remember, they said no to this offer, not all offers. Sometimes, a
125:34 this offer, not all offers. Sometimes, a lot of times, people say no, and that's
125:36 lot of times, people say no, and that's okay. Just because they rejected this
125:38 okay. Just because they rejected this offer doesn't mean they've rejected you.
125:41 offer doesn't mean they've rejected you. It hurts when someone rejects you. I get
125:42 It hurts when someone rejects you. I get it. But see it for what it is. An
125:44 it. But see it for what it is. An opportunity to find out what they really
125:46 opportunity to find out what they really want. and profit from it. Instead of
125:48 want. and profit from it. Instead of hiding your head in the sand, stand your
125:49 hiding your head in the sand, stand your ground and make another offer. No means
125:51 ground and make another offer. No means no for this thing, not no for
125:53 no for this thing, not no for everything.
125:54 everything. Downsells are trades. When downelling,
125:57 Downsells are trades. When downelling, you work with the customer to find
125:58 you work with the customer to find combinations of giving and getting until
126:00 combinations of giving and getting until you get a match. If you're going to give
126:02 you get a match. If you're going to give something, get something.
126:04 something, get something. Personalize, don't pressure. Figure out
126:06 Personalize, don't pressure. Figure out what they like and don't like. Then
126:08 what they like and don't like. Then offer more of what they like and less of
126:10 offer more of what they like and less of what they don't with a price to match.
126:12 what they don't with a price to match. You're personalizing here. If someone
126:14 You're personalizing here. If someone refuses my large soda upsell, I can
126:16 refuses my large soda upsell, I can offer alternatives. I could ask if they
126:17 offer alternatives. I could ask if they want a small, a juice, or a coffee. Am I
126:20 want a small, a juice, or a coffee. Am I being offensive by asking? Absolutely
126:21 being offensive by asking? Absolutely not. In fact, if I can better serve
126:23 not. In fact, if I can better serve them, it would be offensive not to offer
126:26 them, it would be offensive not to offer the same thing in new ways. In a perfect
126:28 the same thing in new ways. In a perfect world, you've got tons of different
126:29 world, you've got tons of different things to sell, so everybody buys
126:30 things to sell, so everybody buys something. In the real world, you limit
126:32 something. In the real world, you limit downells to what you've got. Otherwise,
126:34 downells to what you've got. Otherwise, you create a 100 businesses worth of
126:35 you create a 100 businesses worth of products and problems. A silly choice.
126:37 products and problems. A silly choice. So, just think of downselling more like
126:39 So, just think of downselling more like a 100 ways to offer the stuff you
126:41 a 100 ways to offer the stuff you already have. Don't drop your price just
126:42 already have. Don't drop your price just to get somebody to buy. First off,
126:44 to get somebody to buy. First off, dropping your price is not really
126:45 dropping your price is not really downselling. It's discounting. If
126:47 downselling. It's discounting. If someone wants what you have and just
126:49 someone wants what you have and just doesn't want to pay the price, tough
126:50 doesn't want to pay the price, tough cookies. On the other hand, you can
126:52 cookies. On the other hand, you can offer them to pay less now and pay more
126:54 offer them to pay less now and pay more money over time, a payment plan. But
126:56 money over time, a payment plan. But whatever you do, don't just change the
126:58 whatever you do, don't just change the price to get someone to buy because
127:00 price to get someone to buy because customers talk about price. By all
127:02 customers talk about price. By all means, test prices. Plan to offer your
127:05 means, test prices. Plan to offer your thing at a specific price to a specific
127:06 thing at a specific price to a specific number of people ahead of time. That's
127:09 number of people ahead of time. That's way different than charging somebody
127:10 way different than charging somebody less in the moment just because you felt
127:12 less in the moment just because you felt scared of losing the sale in the moment.
127:14 scared of losing the sale in the moment. Customers talk. If they find out someone
127:16 Customers talk. If they find out someone else got the same thing for less just
127:18 else got the same thing for less just because you'll upset people. And it also
127:21 because you'll upset people. And it also becomes an ethical problem, at least to
127:22 becomes an ethical problem, at least to me. Avoid it. Next up, I use three
127:25 me. Avoid it. Next up, I use three simple and brutally effective downell
127:27 simple and brutally effective downell processes. Payment plan downells, how
127:29 processes. Payment plan downells, how they pay. Trial with penalty, how they
127:32 they pay. Trial with penalty, how they pay. Feature downells, what they get.
127:34 pay. Feature downells, what they get. These downell processes boost 30-day
127:36 These downell processes boost 30-day profit even further. They do it by
127:39 profit even further. They do it by making even more sales when customers
127:40 making even more sales when customers would have said no. And I love them
127:42 would have said no. And I love them because with just a couple tweaks, you
127:43 because with just a couple tweaks, you can fit them into your business and reap
127:45 can fit them into your business and reap the rewards today. Free gift. Downell
127:47 the rewards today. Free gift. Downell offers video training. People say no.
127:49 offers video training. People say no. Don't get flustered. Get focused. Know
127:51 Don't get flustered. Get focused. Know what you're going to offer next. I made
127:52 what you're going to offer next. I made a video to go over this chapter in
127:54 a video to go over this chapter in detail for you. Enjoy it free at
127:55 detail for you. Enjoy it free at acquisition.com/training/money.
127:57 acquisition.com/training/money. Payment plan downells. How much can you
128:00 Payment plan downells. How much can you put down today? August 2013. It was my
128:03 put down today? August 2013. It was my first real month in business. I had
128:05 first real month in business. I had exactly one month's rent and savings
128:07 exactly one month's rent and savings left in my name, and I had never gotten
128:09 left in my name, and I had never gotten a stranger to give me money. And now I
128:11 a stranger to give me money. And now I had to get dozens of strangers to give
128:12 had to get dozens of strangers to give me money in the next few weeks just to
128:13 me money in the next few weeks just to keep the lights on. I only made a few
128:16 keep the lights on. I only made a few sales the first week. If I kept that up,
128:18 sales the first week. If I kept that up, it meant going hungry very soon. I had
128:21 it meant going hungry very soon. I had nightmares about going back home a
128:22 nightmares about going back home a failure. The idea was unbearable. I got
128:24 failure. The idea was unbearable. I got desperate. The next morning, a lead
128:26 desperate. The next morning, a lead walked in and I went through my normal
128:27 walked in and I went through my normal pitch. She said, "I can't afford it.
128:29 pitch. She said, "I can't afford it. Normally, I'd just give up, but I really
128:31 Normally, I'd just give up, but I really needed the money." So, in desperation, I
128:33 needed the money." So, in desperation, I blurted out, "Okay, when you get paid,
128:35 blurted out, "Okay, when you get paid, the first," she said. Okay, just put
128:37 the first," she said. Okay, just put half down now and half when you get
128:38 half down now and half when you get paid. I can't afford that either. She
128:40 paid. I can't afford that either. She said, "Okay, do you really want to do
128:42 said, "Okay, do you really want to do this program?" "Yeah," she said. "I do."
128:45 this program?" "Yeah," she said. "I do." "Okay, what if you do three payments and
128:48 "Okay, what if you do three payments and just put the a third down today?" "I
128:50 just put the a third down today?" "I still can't do it." Hm. What can you do?
128:54 still can't do it." Hm. What can you do? Honestly, nothing. But I can pay for the
128:56 Honestly, nothing. But I can pay for the whole thing on the first. My rent was
128:58 whole thing on the first. My rent was due on the fifth. Bingo. Sounds good.
129:01 due on the fifth. Bingo. Sounds good. Just give me your card and I'll charge
129:03 Just give me your card and I'll charge you on the second. That work? Yeah,
129:05 you on the second. That work? Yeah, great. Two weeks later, I ran the card
129:06 great. Two weeks later, I ran the card and it worked. My first ever payment
129:08 and it worked. My first ever payment plan, a success. Hallelujah.
129:11 plan, a success. Hallelujah. Payment plan downsells work no matter
129:13 Payment plan downsells work no matter how many zeros the price tech has. I've
129:15 how many zeros the price tech has. I've made tens of millions of dollars with
129:16 made tens of millions of dollars with them and I still use them to this day.
129:18 them and I still use them to this day. But payment plans are a gamble, so you
129:20 But payment plans are a gamble, so you have to know how to use them. I know how
129:23 have to know how to use them. I know how to use them, and I'll show you exactly
129:24 to use them, and I'll show you exactly how, too. Payment plans are a gamble
129:27 how, too. Payment plans are a gamble because they can make money in one way,
129:28 because they can make money in one way, but they can lose money in two. They
129:30 but they can lose money in two. They make you more money when you get more
129:31 make you more money when you get more customers and those customers complete
129:33 customers and those customers complete their payments. They make you less money
129:35 their payments. They make you less money when people cancel before you turn a
129:36 when people cancel before you turn a profit. You lose the most money when
129:38 profit. You lose the most money when people who would have paid in full take
129:39 people who would have paid in full take a payment plan and then cancel early.
129:41 a payment plan and then cancel early. This chapter maximizes how much money
129:43 This chapter maximizes how much money you make from payment plans and
129:44 you make from payment plans and minimizes the money you lose. I take the
129:46 minimizes the money you lose. I take the bet when I know I'll win. With this
129:48 bet when I know I'll win. With this playbook, you can too. Description. When
129:50 playbook, you can too. Description. When most people think downell, they think of
129:52 most people think downell, they think of a lower amount, lower quality, cheaper,
129:54 a lower amount, lower quality, cheaper, and so on. Fair enough. But I like to
129:56 and so on. Fair enough. But I like to downell by offering the same product
129:58 downell by offering the same product again. I know it sounds crazy, but hear
129:59 again. I know it sounds crazy, but hear me out. Instead of offering a different
130:01 me out. Instead of offering a different thing, I spread the cost by charging
130:03 thing, I spread the cost by charging some of it upfront and putting the rest
130:04 some of it upfront and putting the rest into scheduled payments. I call this a
130:06 into scheduled payments. I call this a payment plan downell. Let's go over how
130:08 payment plan downell. Let's go over how they work. Many people reject offers
130:10 they work. Many people reject offers because they cost too much. Sometimes
130:12 because they cost too much. Sometimes true, but in response to this, business
130:14 true, but in response to this, business owners and other sales professionals
130:15 owners and other sales professionals will immediately discount or sell
130:16 will immediately discount or sell cheaper stuff just to get them to say
130:18 cheaper stuff just to get them to say yes. However, a huge percentage of the
130:20 yes. However, a huge percentage of the time, it costs too much really means
130:22 time, it costs too much really means this costs too much upfront. In other
130:24 this costs too much upfront. In other words, people think discounts work
130:26 words, people think discounts work because people pay less for the product,
130:28 because people pay less for the product, but when you peel it back a layer, it's
130:29 but when you peel it back a layer, it's really because they pay less in the
130:31 really because they pay less in the moment. So, payment plans get the best
130:33 moment. So, payment plans get the best of both worlds. They get more buyers
130:35 of both worlds. They get more buyers because customers pay less in the
130:36 because customers pay less in the moment. They also boost your profits
130:38 moment. They also boost your profits because customers still pay full price
130:39 because customers still pay full price over time. My payment plan downells
130:42 over time. My payment plan downells process takes up to seven steps. The
130:44 process takes up to seven steps. The process shifts from getting paid more
130:45 process shifts from getting paid more upfront to getting paid more over time.
130:48 upfront to getting paid more over time. I stop when they buy. Here are the
130:50 I stop when they buy. Here are the steps. Step one, reward for paying in
130:52 steps. Step one, reward for paying in full rather than punish for paying over
130:54 full rather than punish for paying over time. Step two, offer thirdparty
130:57 time. Step two, offer thirdparty financing, credit card, and layaway
130:59 financing, credit card, and layaway options. Step three, offer half now,
131:02 options. Step three, offer half now, half later. Step four, check to see if
131:04 half later. Step four, check to see if they still want the thing. Step five,
131:06 they still want the thing. Step five, offer to split into three payments. Step
131:09 offer to split into three payments. Step six, offer to evenly spread the
131:11 six, offer to evenly spread the payments. Step seven, offer a free
131:13 payments. Step seven, offer a free trial. Let's go through them in order.
131:15 trial. Let's go through them in order. Example of payment plan downell process.
131:18 Example of payment plan downell process. Step one. Step one, reward for paying in
131:20 Step one. Step one, reward for paying in full rather than punish for paying over
131:22 full rather than punish for paying over time. If I take on the risk of a payment
131:24 time. If I take on the risk of a payment plan, I increase the price. Normally,
131:26 plan, I increase the price. Normally, businesses do it by charging interest,
131:28 businesses do it by charging interest, but I do it by offering a discount if
131:30 but I do it by offering a discount if they pay in full. Think about how
131:31 they pay in full. Think about how businesses normally charge interest.
131:33 businesses normally charge interest. They basically say, "It's $10 if you get
131:34 They basically say, "It's $10 if you get it right now, but it's $15 if you pay
131:36 it right now, but it's $15 if you pay over time because we charge $5 interest.
131:38 over time because we charge $5 interest. No fun." Instead, I say, "It's $15, but
131:41 No fun." Instead, I say, "It's $15, but it's $10 if you prepay it. You save five
131:43 it's $10 if you prepay it. You save five bucks." That's what most people do. To
131:46 bucks." That's what most people do. To do this, I present the price with
131:47 do this, I present the price with interest included. Then I offer
131:49 interest included. Then I offer prepayment as a way to get a discount.
131:52 prepayment as a way to get a discount. This way, we make the offer friendlier
131:53 This way, we make the offer friendlier and benefit from a price anchor. Same
131:55 and benefit from a price anchor. Same math, better feels. If they said no, I
131:58 math, better feels. If they said no, I start downelling. But even still, I try
132:01 start downelling. But even still, I try to get paid first. Step two, offer third
132:03 to get paid first. Step two, offer third party financing, credit card, and
132:05 party financing, credit card, and layaway options. Third party financing.
132:07 layaway options. Third party financing. This means another company pays me now
132:09 This means another company pays me now and the customer has to pay a payment
132:10 and the customer has to pay a payment plan with that other company. Car
132:12 plan with that other company. Car dealers do it all the time. The dealer
132:15 dealers do it all the time. The dealer gets the money from the financing
132:16 gets the money from the financing company today and the customer pays the
132:17 company today and the customer pays the financing company tomorrow. Note, it
132:19 financing company tomorrow. Note, it takes work to get third party financing
132:21 takes work to get third party financing set up, but totally worth the effort.
132:23 set up, but totally worth the effort. Credit card. Just ask, "Would you rather
132:25 Credit card. Just ask, "Would you rather I decide your payment terms or you
132:27 I decide your payment terms or you decide?" They say normally that they'd
132:30 decide?" They say normally that they'd prefer to decide. And when they do, I
132:32 prefer to decide. And when they do, I tell them to use a credit card. That
132:33 tell them to use a credit card. That way, I can pay today and then they can
132:35 way, I can pay today and then they can pay the credit card company over time.
132:37 pay the credit card company over time. It's wild to me that this reframe works,
132:39 It's wild to me that this reframe works, but it does. I don't judge. I do.
132:42 but it does. I don't judge. I do. Layaway. Layaway means paying off the
132:44 Layaway. Layaway means paying off the product before getting it. Customers can
132:46 product before getting it. Customers can make as many installments as they want.
132:48 make as many installments as they want. They can take any reasonable amount of
132:50 They can take any reasonable amount of time to pay, but they only get the
132:51 time to pay, but they only get the product after they've paid in full. This
132:53 product after they've paid in full. This is by far the most flexible for them and
132:55 is by far the most flexible for them and the lowest risk to us. If they say no to
132:57 the lowest risk to us. If they say no to these, I move to step three. Step three,
133:00 these, I move to step three. Step three, offer half now, half later. I start by
133:02 offer half now, half later. I start by asking, "When's the next time you get
133:03 asking, "When's the next time you get paid?" After I ask, "Want to just put
133:06 paid?" After I ask, "Want to just put half down today and the rest when you
133:07 half down today and the rest when you get paid?" If they can't do that, I ask,
133:09 get paid?" If they can't do that, I ask, "What's the most you can put down
133:10 "What's the most you can put down today?" When they offer an amount, I
133:12 today?" When they offer an amount, I say, "Great. We'll put that down today
133:13 say, "Great. We'll put that down today and put the rest when we get paid." Fair
133:15 and put the rest when we get paid." Fair enough. I like scheduling payments off
133:17 enough. I like scheduling payments off paycheck since that's when most people
133:18 paycheck since that's when most people get paid every two weeks. This boots
133:19 get paid every two weeks. This boots 30-day profit far more than monthly
133:22 30-day profit far more than monthly payments. If they can't do those, I
133:25 payments. If they can't do those, I pause to make sure they actually want
133:26 pause to make sure they actually want it.
133:28 it. Step four, check to see if they still
133:30 Step four, check to see if they still want the thing. No payment plan will
133:32 want the thing. No payment plan will satisfy a customer who doesn't want the
133:33 satisfy a customer who doesn't want the thing. So, make sure the person actually
133:35 thing. So, make sure the person actually wants your thing before putting more
133:36 wants your thing before putting more effort into selling it. I might say
133:37 effort into selling it. I might say something like, "Got it. So, money's
133:39 something like, "Got it. So, money's tight right now. real quick. I just want
133:40 tight right now. real quick. I just want to make sure on a scale from 1 to 10.
133:42 to make sure on a scale from 1 to 10. How bad do you want to do this? If they
133:43 How bad do you want to do this? If they say eight or above, keep offering
133:45 say eight or above, keep offering payment plans and say, "Awesome. Don't
133:47 payment plans and say, "Awesome. Don't worry. We're going to figure a way out
133:49 worry. We're going to figure a way out to make this happen for you." If they
133:51 to make this happen for you." If they say seven or below, ask why not a 10?
133:53 say seven or below, ask why not a 10? And then say something like, "You're
133:55 And then say something like, "You're right. I think we may have something
133:56 right. I think we may have something that could be a better fit for you."
133:57 that could be a better fit for you." Then you sell them something different,
133:59 Then you sell them something different, which I'll cover in feature downells a
134:00 which I'll cover in feature downells a little later. Step five, offer split
134:03 little later. Step five, offer split into three payments. If they said 8 to
134:06 into three payments. If they said 8 to 10 on the scale, I can downell from half
134:09 10 on the scale, I can downell from half down to a third down. I offer a three
134:11 down to a third down. I offer a three payment option. 1/3 now and 1/3 of the
134:13 payment option. 1/3 now and 1/3 of the next two paychecks or 1/3 now and 1/3
134:15 next two paychecks or 1/3 now and 1/3 next two months. Step six, often evenly
134:18 next two months. Step six, often evenly spread payments. If they still can't
134:20 spread payments. If they still can't manage it, I evenly spread payments over
134:22 manage it, I evenly spread payments over the rest of their service. For instance,
134:24 the rest of their service. For instance, gym launch was 16 weeks long, so I
134:26 gym launch was 16 weeks long, so I charge them each week 16 times in total.
134:28 charge them each week 16 times in total. If that still creates problem, I move on
134:30 If that still creates problem, I move on to step seven. Offer a free trial. I
134:33 to step seven. Offer a free trial. I offer free trials in a special way, so I
134:35 offer free trials in a special way, so I dedicated the next chapter to it. But
134:37 dedicated the next chapter to it. But the sale ends here, at least for now.
134:39 the sale ends here, at least for now. This payment plan downell process makes
134:40 This payment plan downell process makes up to nine offers. And if you think that
134:42 up to nine offers. And if you think that sounds crazy, you're probably making way
134:44 sounds crazy, you're probably making way less money and serving way fewer
134:45 less money and serving way fewer customers than you could. Important
134:47 customers than you could. Important notes. Seesaw downselling. If you prefer
134:50 notes. Seesaw downselling. If you prefer fewer steps or have less experienced
134:51 fewer steps or have less experienced salespeople, then you can use this
134:52 salespeople, then you can use this payment plan downell process. Instead of
134:54 payment plan downell process. Instead of asking for the full amount, just ask,
134:56 asking for the full amount, just ask, "Would you rather have giant monthly
134:58 "Would you rather have giant monthly payments or tiny ones?" They'll say
134:59 payments or tiny ones?" They'll say tiny. Then you say, "Normally, it cost
135:01 tiny. Then you say, "Normally, it cost X." And if you prepay it today, you'll
135:03 X." And if you prepay it today, you'll get a huge discount and zero monthly
135:05 get a huge discount and zero monthly payments that work. This frames the
135:06 payments that work. This frames the payment plan as negative and highlights
135:08 payment plan as negative and highlights the benefits of prepaying. Then if they
135:10 the benefits of prepaying. Then if they say they can't afford it, say the more
135:12 say they can't afford it, say the more they can put down now, the lower their
135:13 they can put down now, the lower their monthly payments. If you can't afford it
135:15 monthly payments. If you can't afford it upfront, I totally get it. We'll just
135:17 upfront, I totally get it. We'll just adjust the down payment until you get
135:18 adjust the down payment until you get the monthly rate you like. This still
135:19 the monthly rate you like. This still incentivizes bigger down payments to get
135:21 incentivizes bigger down payments to get their monthly payments lower. If they
135:23 their monthly payments lower. If they still say no, ask if they still want the
135:25 still say no, ask if they still want the product. If they do, pull your chair to
135:27 product. If they do, pull your chair to their side of the table and walk them
135:28 their side of the table and walk them through the options. The sale becomes a
135:30 through the options. The sale becomes a team effort. Straightforward.
135:33 team effort. Straightforward. Payment plans have built-in upsells.
135:36 Payment plans have built-in upsells. Make periodic offers for the original
135:38 Make periodic offers for the original paid full discount during the payment
135:39 paid full discount during the payment plan. If they pay off the balance, they
135:41 plan. If they pay off the balance, they can still get the original prepaid
135:42 can still get the original prepaid discount. This works exceptionally well.
135:44 discount. This works exceptionally well. Customers forget they have the option.
135:46 Customers forget they have the option. So, when we give it to them, some jump
135:48 So, when we give it to them, some jump at the opportunity. Also, give your
135:50 at the opportunity. Also, give your sales guys the same bonus to close the
135:51 sales guys the same bonus to close the balance to incentivize the follow-up.
135:53 balance to incentivize the follow-up. And remember, if you give people the
135:54 And remember, if you give people the option to pay slower, they will pay
135:56 option to pay slower, they will pay slower. If you incentivize them to pay
135:57 slower. If you incentivize them to pay faster, they will pay faster. So, if you
135:59 faster, they will pay faster. So, if you want them to pay faster, give them a
136:01 want them to pay faster, give them a good reason to. In other words, you can
136:03 good reason to. In other words, you can extend the prepayment discount for the
136:04 extend the prepayment discount for the first 30 days of their relationship with
136:06 first 30 days of their relationship with you, and that gives you 30 more days to
136:08 you, and that gives you 30 more days to collect more cash upfront. Get fewer
136:10 collect more cash upfront. Get fewer decline payments. Align payment
136:12 decline payments. Align payment schedules with paycheck schedules. If
136:14 schedules with paycheck schedules. If you charge on days people get paid, they
136:15 you charge on days people get paid, they have a higher chance of paying. Also,
136:17 have a higher chance of paying. Also, people's paychecks get deposited at
136:19 people's paychecks get deposited at different times. So, if at first it gets
136:21 different times. So, if at first it gets declined, run it a few times that day. I
136:23 declined, run it a few times that day. I learned the strategy from John, my early
136:25 learned the strategy from John, my early mentor. I often recoup a third of my
136:27 mentor. I often recoup a third of my declined payments by adding this little
136:28 declined payments by adding this little process.
136:30 process. How to make sure payment plans make you
136:31 How to make sure payment plans make you money. After implementing payment plans,
136:34 money. After implementing payment plans, your close rate should increase. Duh.
136:36 your close rate should increase. Duh. But if the number of paid in fools goes
136:37 But if the number of paid in fools goes down, you have a problem. You just put
136:39 down, you have a problem. You just put people who would have paid in full on
136:40 people who would have paid in full on payment plans. So, you want to close
136:42 payment plans. So, you want to close more points overall, but with the same
136:44 more points overall, but with the same percentage of appointments paying in
136:45 percentage of appointments paying in full. Example, if I talk to 10 leads, I
136:48 full. Example, if I talk to 10 leads, I might sell three. If I have a downell, I
136:50 might sell three. If I have a downell, I might sell three more for a total of
136:51 might sell three more for a total of six. So, in the second scenario, I get
136:54 six. So, in the second scenario, I get my upfront cash from the first three and
136:55 my upfront cash from the first three and the payment plans from the second three.
136:57 the payment plans from the second three. This makes sure that downells properly
136:59 This makes sure that downells properly increase your 30-day profits. Another
137:01 increase your 30-day profits. Another reason to start high before working your
137:03 reason to start high before working your way down. Profitwell, a company that
137:05 way down. Profitwell, a company that manages subscriptions, reported churn
137:07 manages subscriptions, reported churn data from 14,000 businesses. They
137:09 data from 14,000 businesses. They uncovered this valuable gem. Across all
137:11 uncovered this valuable gem. Across all businesses, the billing cadence affected
137:13 businesses, the billing cadence affected monthly churn. Monthly, as in 12 times a
137:16 monthly churn. Monthly, as in 12 times a year billing, resulted in 10.7% monthly
137:20 year billing, resulted in 10.7% monthly cancellation rates. Quarterly billing as
137:22 cancellation rates. Quarterly billing as in four times per year billing resulted
137:24 in four times per year billing resulted in 5% monthly cancellation rates and
137:27 in 5% monthly cancellation rates and annual billing one time per year billing
137:29 annual billing one time per year billing resulted in 2% monthly cancellations. I
137:32 resulted in 2% monthly cancellations. I already present pricing in order of most
137:34 already present pricing in order of most cash upfront at least. So it just so
137:35 cash upfront at least. So it just so happens this also makes customers more
137:37 happens this also makes customers more valuable over the long term. So start
137:39 valuable over the long term. So start high fewer bigger payments and work your
137:41 high fewer bigger payments and work your way down. Bottom line changing how
137:43 way down. Bottom line changing how customers pay can make a massive
137:45 customers pay can make a massive difference in how long they stay. We go
137:47 difference in how long they stay. We go in more depth on continuity and churn in
137:49 in more depth on continuity and churn in section six, continuity offers. Summary
137:51 section six, continuity offers. Summary points. Payment plan downells spread the
137:54 points. Payment plan downells spread the cost of a product by charging some of it
137:55 cost of a product by charging some of it upfront and putting the rest into
137:56 upfront and putting the rest into scheduled payments. Payment plans get
137:58 scheduled payments. Payment plans get more buyers to like discounts, but can
138:00 more buyers to like discounts, but can also boost profits because they agree to
138:02 also boost profits because they agree to pay full price over time. Payment plans
138:04 pay full price over time. Payment plans only grow your business if they get more
138:06 only grow your business if they get more customers and those customers actually
138:07 customers and those customers actually pay. Step one, present at full price,
138:10 pay. Step one, present at full price, then offer a discount if they pay in
138:11 then offer a discount if they pay in full. Step two, third-party financing,
138:13 full. Step two, third-party financing, then credit card option, then layaway
138:15 then credit card option, then layaway option. Step three, split the payment in
138:17 option. Step three, split the payment in two. Schedule on their paycheck dates.
138:19 two. Schedule on their paycheck dates. Step four, ask if they still want the
138:21 Step four, ask if they still want the product on a scale from 1 to 10. You
138:22 product on a scale from 1 to 10. You want eight or greater. Step five, split
138:24 want eight or greater. Step five, split the payment in three. Split on their
138:26 the payment in three. Split on their paycheck dates or monthly. Step six,
138:29 paycheck dates or monthly. Step six, schedule equal payments across a
138:30 schedule equal payments across a specified period of time. Step seven,
138:32 specified period of time. Step seven, offer a free trial in exchange for
138:34 offer a free trial in exchange for putting a card down covered in the next
138:35 putting a card down covered in the next chapter. Seesaw downelling gradually
138:38 chapter. Seesaw downelling gradually shifts from paid in full to equal
138:39 shifts from paid in full to equal payments. Payment plan upsell. They get
138:41 payments. Payment plan upsell. They get the original discount price if they pay
138:43 the original discount price if they pay the balance today. align payment
138:45 the balance today. align payment schedules with paycheck schedules to get
138:46 schedules with paycheck schedules to get fewer declined payments. At the end of
138:48 fewer declined payments. At the end of all of this, if someone still refuses to
138:50 all of this, if someone still refuses to pay anything, then we offer them a free
138:52 pay anything, then we offer them a free trial in exchange for their card. But
138:53 trial in exchange for their card. But it's not an ordinary free trial. I do in
138:55 it's not an ordinary free trial. I do in a special way. It took me years to
138:56 a special way. It took me years to perfect it. So, that's where we're going
138:58 perfect it. So, that's where we're going to go to next, and you're going to love
138:59 to go to next, and you're going to love it. Free gift. Down offers video
139:01 it. Free gift. Down offers video training. Properly designed payment
139:03 training. Properly designed payment plans almost always make you more sales
139:04 plans almost always make you more sales and more money. I recorded myself
139:06 and more money. I recorded myself actually doing the step downs so you can
139:07 actually doing the step downs so you can model them for whatever you sell. For
139:09 model them for whatever you sell. For those of you who like to learn in
139:10 those of you who like to learn in multiple formats, which I recommend, you
139:12 multiple formats, which I recommend, you can watch it. I made it for you at
139:13 can watch it. I made it for you at acquisition.com/training/money.
139:20 Trial with penalty. If you do XYZ, I'll let you start for free. Spring 2018. Gym
139:23 let you start for free. Spring 2018. Gym Launch was scaling fast with 100
139:24 Launch was scaling fast with 100 employees in counting. Leila needed
139:26 employees in counting. Leila needed better HR solutions to manage it all.
139:28 better HR solutions to manage it all. After months of sales calls with
139:29 After months of sales calls with prospective HR companies, she found one
139:31 prospective HR companies, she found one she liked. And to my surprise, it wasn't
139:33 she liked. And to my surprise, it wasn't anything special. It looked like all the
139:34 anything special. It looked like all the others. Yeah, the software is
139:36 others. Yeah, the software is complicated, she said. They got me.
139:38 complicated, she said. They got me. Seriously, how they manage that? They
139:40 Seriously, how they manage that? They had a trial offer with a weird spin. And
139:42 had a trial offer with a weird spin. And it was pretty smart. What' they offer?
139:44 it was pretty smart. What' they offer? They said if I did their training, I'd
139:45 They said if I did their training, I'd get free onboarding. But if I skipped
139:47 get free onboarding. But if I skipped the training, I'd have to pay for it. So
139:49 the training, I'd have to pay for it. So what'd you do? I went through the
139:50 what'd you do? I went through the training, of course. So they took your
139:52 training, of course. So they took your card, you did the training, and then you
139:54 card, you did the training, and then you didn't have to pay for the onboarding.
139:55 didn't have to pay for the onboarding. Yep. She smirked. And now I can actually
139:57 Yep. She smirked. And now I can actually use the complicated software, too. Light
139:59 use the complicated software, too. Light bulb moment. Wait, you said no. Then
140:02 bulb moment. Wait, you said no. Then they downsold you a free trial on the
140:04 they downsold you a free trial on the condition they could penalize you if you
140:06 condition they could penalize you if you didn't use it. Basically, I mean, it
140:08 didn't use it. Basically, I mean, it makes sense. It forced me to learn and
140:10 makes sense. It forced me to learn and now I don't want to learn anyone else's
140:11 now I don't want to learn anyone else's complicated software. So, we're sticking
140:12 complicated software. So, we're sticking with them. You're right. That is pretty
140:14 with them. You're right. That is pretty smart. The software company used trial
140:17 smart. The software company used trial with penalty as their attraction offer,
140:18 with penalty as their attraction offer, but I prefer it to downell trials. So, I
140:22 but I prefer it to downell trials. So, I only downell the trial if they say no to
140:23 only downell the trial if they say no to my first offer. And if you do it the way
140:25 my first offer. And if you do it the way I'm about to show you, it only changes
140:27 I'm about to show you, it only changes what they pay today, not how much they
140:28 what they pay today, not how much they pay in total. Description. In a trial
140:31 pay in total. Description. In a trial with penalty offer, customers can try
140:32 with penalty offer, customers can try your product or service for free so long
140:34 your product or service for free so long as they meet your terms. For comparison,
140:36 as they meet your terms. For comparison, when your money back offers, attraction
140:38 when your money back offers, attraction offer number one, give customers the
140:39 offer number one, give customers the chance to get their money back if they
140:41 chance to get their money back if they meet your terms. In trial with penalty
140:42 meet your terms. In trial with penalty offers, customers only pay if they don't
140:44 offers, customers only pay if they don't meet them. Ideally, the terms should be
140:46 meet them. Ideally, the terms should be things that make excellent customers.
140:48 things that make excellent customers. So, they'll mirror the actions and
140:49 So, they'll mirror the actions and results used in your win your money back
140:51 results used in your win your money back offer. But this time, we use avoiding
140:53 offer. But this time, we use avoiding fees rather than winning money back to
140:55 fees rather than winning money back to incentivize adherence. So, trial with
140:57 incentivize adherence. So, trial with penalty isn't here's my thing, see if
140:59 penalty isn't here's my thing, see if you like it. It's here's my thing. You
141:01 you like it. It's here's my thing. You get it for free so long as you do this
141:02 get it for free so long as you do this stuff, which makes you a perfect fit for
141:04 stuff, which makes you a perfect fit for my next offer. And if you don't, then
141:06 my next offer. And if you don't, then you have to pay for it. To do a trial
141:08 you have to pay for it. To do a trial with penalty downell, you must consider
141:10 with penalty downell, you must consider what they have to do to avoid the fee
141:12 what they have to do to avoid the fee and how you charge them. Normally, you
141:14 and how you charge them. Normally, you get one chunk of people to buy your main
141:16 get one chunk of people to buy your main offer. So, offer that first and the rest
141:18 offer. So, offer that first and the rest you'll get on this downell. Let's say
141:19 you'll get on this downell. Let's say you normally close three out of 10
141:21 you normally close three out of 10 people on your upfront cash offer. Now,
141:23 people on your upfront cash offer. Now, you downell another four on a trial with
141:25 you downell another four on a trial with penalty. Then, after the trial finishes,
141:27 penalty. Then, after the trial finishes, upsell three of them. You go from three
141:29 upsell three of them. You go from three sales to six, doubling your customers.
141:32 sales to six, doubling your customers. If you only have one offer, you lose to
141:33 If you only have one offer, you lose to everyone who says no. Downselling trials
141:36 everyone who says no. Downselling trials with a penalty gives people another
141:37 with a penalty gives people another chance to say yes. I'm still irritated
141:39 chance to say yes. I'm still irritated at the thousands of customers I've lost
141:41 at the thousands of customers I've lost on free trials over the years before
141:42 on free trials over the years before learning this, but now we can save them.
141:44 learning this, but now we can save them. The trial with penalty makes it happen.
141:47 The trial with penalty makes it happen. Examples: Business to consumer offer.
141:50 Examples: Business to consumer offer. 28-day kick that habit blueprint. To get
141:52 28-day kick that habit blueprint. To get the trial for free and avoid the penalty
141:54 the trial for free and avoid the penalty fee, you must attend all your consulting
141:56 fee, you must attend all your consulting calls, post your progress pictures in
141:58 calls, post your progress pictures in the group once a week, journal daily in
142:00 the group once a week, journal daily in our app, attend feedback sections,
142:02 our app, attend feedback sections, attend feedback sessions and
142:03 attend feedback sessions and transformations, aka upsell
142:04 transformations, aka upsell opportunities. Businessto business offer
142:07 opportunities. Businessto business offer 5-day get your first five customers
142:09 5-day get your first five customers challenge. To get the draw for free and
142:11 challenge. To get the draw for free and avoid the penalty fee, you must send 100
142:13 avoid the penalty fee, you must send 100 outbound messages per day. Report stats
142:15 outbound messages per day. Report stats on those outbound messages. Attend the
142:17 on those outbound messages. Attend the daily training. Post in the group once
142:18 daily training. Post in the group once you've done your homework. Attend your
142:20 you've done your homework. Attend your graduation call. Upsell opportunity
142:22 graduation call. Upsell opportunity software $500 onboarding for HR software
142:26 software $500 onboarding for HR software then $99 per month thereafter trial with
142:28 then $99 per month thereafter trial with penalty. You don't have to pay $500
142:30 penalty. You don't have to pay $500 upfront but you must attend onboarding
142:32 upfront but you must attend onboarding which is three 60-minute Zoom calls
142:35 which is three 60-minute Zoom calls upsell opportunities. Do the homework
142:37 upsell opportunities. Do the homework activate your employer profile. Get your
142:39 activate your employer profile. Get your employees set up by the end of the third
142:41 employees set up by the end of the third call. Otherwise, you pay the fee.
142:43 call. Otherwise, you pay the fee. Important notes. What they get for free
142:45 Important notes. What they get for free and what they have to do to avoid the
142:46 and what they have to do to avoid the fee. You'll need to know what your terms
142:48 fee. You'll need to know what your terms of service will be. The valuable parts
142:50 of service will be. The valuable parts will either be your bare bones offer
142:51 will either be your bare bones offer like the decoy offer or your win your
142:54 like the decoy offer or your win your money back offer. Either work. I'd
142:56 money back offer. Either work. I'd recommend giving more rather than giving
142:57 recommend giving more rather than giving less if you can afford it. The criteria
142:59 less if you can afford it. The criteria should activate and retain customers.
143:01 should activate and retain customers. You can swipe these directly from when
143:02 You can swipe these directly from when your money back attraction offer number
143:04 your money back attraction offer number one. Breaking up fees versus one lump
143:07 one. Breaking up fees versus one lump fee. Say you have a $500 product with 10
143:09 fee. Say you have a $500 product with 10 things to do. I'd rather bill $50 for
143:12 things to do. I'd rather bill $50 for each mess up than one $500 fee for their
143:15 each mess up than one $500 fee for their first mess up. On the other hand, if
143:17 first mess up. On the other hand, if missing once really messes up their
143:19 missing once really messes up their success, you want the fee to reflect
143:21 success, you want the fee to reflect that. I've seen both work. How to
143:22 that. I've seen both work. How to downell the trial. Here's a graphic to
143:25 downell the trial. Here's a graphic to show how I downell a trial with penalty
143:26 show how I downell a trial with penalty in five steps. Step one, offer the trial
143:29 in five steps. Step one, offer the trial last. If someone makes it clear they
143:31 last. If someone makes it clear they don't want your first offer, then
143:33 don't want your first offer, then downell the trial with penalty. Here's
143:35 downell the trial with penalty. Here's how it might sound. Hm, that sure is a
143:37 how it might sound. Hm, that sure is a pickle. I'll tell you what, how about we
143:39 pickle. I'll tell you what, how about we just get you started for free? Would you
143:40 just get you started for free? Would you be okay with that? We can just help you
143:42 be okay with that? We can just help you out, and if you like it, you can stay.
143:44 out, and if you like it, you can stay. Let me get your ID and we get the
143:45 Let me get your ID and we get the process started. Fair enough. Great.
143:48 process started. Fair enough. Great. Step two, always get a card. Record
143:50 Step two, always get a card. Record their info, hold on ID, and motion for
143:53 their info, hold on ID, and motion for their credit card, saying, "What card do
143:55 their credit card, saying, "What card do you want to use?" They have to leave a
143:57 you want to use?" They have to leave a card. If they bulk, just say, "That's
143:59 card. If they bulk, just say, "That's how we've always done it." If they still
144:00 how we've always done it." If they still refuse, wish them a lovely day and show
144:02 refuse, wish them a lovely day and show them out. Pro tip: If someone doesn't
144:05 them out. Pro tip: If someone doesn't agree to put their card down and do the
144:06 agree to put their card down and do the work, I won't sell them. They complain
144:08 work, I won't sell them. They complain more and convert less. Not worth the
144:10 more and convert less. Not worth the hassle. Step three, always selling and
144:14 hassle. Step three, always selling and paying. Ask directly, "If this program
144:17 paying. Ask directly, "If this program got you the result, will you stay
144:18 got you the result, will you stay longterm?" You want them to agree to
144:20 longterm?" You want them to agree to staying longterm if you get them
144:22 staying longterm if you get them results. If they say no, there's no
144:23 results. If they say no, there's no point in giving them a trial. Then we
144:26 point in giving them a trial. Then we frame the conversation as if they'll
144:27 frame the conversation as if they'll stay longterm, even if we haven't
144:29 stay longterm, even if we haven't started billing them yet. So, if they
144:30 started billing them yet. So, if they say no, but want more explanation, say
144:32 say no, but want more explanation, say something like this. I don't want you to
144:34 something like this. I don't want you to try it. I want you to get results. And
144:36 try it. I want you to get results. And out of integrity, I want to set
144:37 out of integrity, I want to set realistic goals. You're not going to hit
144:39 realistic goals. You're not going to hit your long-term goals during this trial,
144:41 your long-term goals during this trial, but you will establish the habits to
144:42 but you will establish the habits to help you get them. and we're going to
144:44 help you get them. and we're going to help you do that for free. But if you
144:45 help you do that for free. But if you want to get your long-term results,
144:46 want to get your long-term results, you're going to have to stay on after. I
144:48 you're going to have to stay on after. I just want to make sure that you're not
144:48 just want to make sure that you're not looking for a quick fix because I
144:50 looking for a quick fix because I ethically can't promise you that. Once
144:52 ethically can't promise you that. Once they agree, move on to step four.
144:54 they agree, move on to step four. Explain the fees after getting their
144:56 Explain the fees after getting their card. I'll say something like, "We will
144:58 card. I'll say something like, "We will do our part so long as you do yours."
145:00 do our part so long as you do yours." That's fair, right? So, now I just ask
145:01 That's fair, right? So, now I just ask that you bet on yourself. If you miss or
145:03 that you bet on yourself. If you miss or skip any stuff, your results will
145:04 skip any stuff, your results will suffer. We charge to keep you on track.
145:07 suffer. We charge to keep you on track. If you miss, no big deal. You'll get
145:09 If you miss, no big deal. You'll get dinged a little fee, but it'll get you
145:10 dinged a little fee, but it'll get you back on track. If you follow through,
145:12 back on track. If you follow through, then you get all this for free. So, this
145:14 then you get all this for free. So, this is the best way we can get you amazing
145:15 is the best way we can get you amazing results and keep it free for you. Best
145:17 results and keep it free for you. Best of both worlds. Note, if you explain the
145:19 of both worlds. Note, if you explain the fees before you get the card, you'll get
145:21 fees before you get the card, you'll get more resistance. So, explain after with
145:24 more resistance. So, explain after with a little this is how we've always done
145:26 a little this is how we've always done it attitude. People still have to agree
145:28 it attitude. People still have to agree to the fees, but you'll get a higher
145:30 to the fees, but you'll get a higher take rate doing it this way. I always
145:31 take rate doing it this way. I always have customers initial separately next
145:33 have customers initial separately next to the fee clause to force my sales guys
145:34 to the fee clause to force my sales guys to explain it to them. Step five, make
145:37 to explain it to them. Step five, make check-ins required. First, we explain
145:39 check-ins required. First, we explain all criteria so they understand the
145:40 all criteria so they understand the costs and benefits of adhering. Then, we
145:42 costs and benefits of adhering. Then, we draw attention to the check-ins, our
145:44 draw attention to the check-ins, our upsell opportunities. Yep. And you agree
145:46 upsell opportunities. Yep. And you agree to attend each of these three check-ins.
145:48 to attend each of these three check-ins. First, we do X so that you can. Second,
145:50 First, we do X so that you can. Second, we do Y so that you can. Third, we do Z
145:52 we do Y so that you can. Third, we do Z so that you can. Obviously, we charge if
145:54 so that you can. Obviously, we charge if you miss these because it's the only way
145:56 you miss these because it's the only way that you can get results. How I upsell
145:58 that you can get results. How I upsell from a trial.
146:01 from a trial. When someone takes a trial, one of three
146:03 When someone takes a trial, one of three things happen. They like it, they hate
146:04 things happen. They like it, they hate it, or they don't use it. Here's how I
146:06 it, or they don't use it. Here's how I upsell them from each of these
146:07 upsell them from each of these scenarios. If they like it, this is the
146:09 scenarios. If they like it, this is the easy one. You already have them set up
146:11 easy one. You already have them set up for automatic billing. Great. Meet with
146:12 for automatic billing. Great. Meet with them anyways. You can still offer a
146:14 them anyways. You can still offer a longerterm or higher value version of
146:16 longerterm or higher value version of your service or both. Successful
146:17 your service or both. Successful customers tend to get even more value
146:18 customers tend to get even more value out of your better and more profitable
146:20 out of your better and more profitable stuff. Two, if they hate it, turn that
146:23 stuff. Two, if they hate it, turn that frown upside down. Ask them what they
146:25 frown upside down. Ask them what they would have liked to be different. Tell
146:27 would have liked to be different. Tell them they're totally right and that
146:28 them they're totally right and that you're angry at yourself for missing
146:29 you're angry at yourself for missing this. Do not blame them. Only one person
146:32 this. Do not blame them. Only one person can be angry and it needs to be you. Ask
146:34 can be angry and it needs to be you. Ask if they'll give you a chance to make it
146:35 if they'll give you a chance to make it up to them because of how outraged you
146:36 up to them because of how outraged you are at their experience. And now since
146:38 are at their experience. And now since you better understand their needs that
146:40 you better understand their needs that they're a better fit for your highle
146:41 they're a better fit for your highle thing. Then offer to them yes, this is a
146:44 thing. Then offer to them yes, this is a sale. I can get about half of these
146:45 sale. I can get about half of these people to buy. Three, if they didn't use
146:48 people to buy. Three, if they didn't use it, reach out to people multiple times
146:50 it, reach out to people multiple times before they get to this point. Explain
146:52 before they get to this point. Explain that you need to meet with them. Offer
146:54 that you need to meet with them. Offer to wave the fee if they do meet with
146:55 to wave the fee if they do meet with you. Now you can try and get them back
146:57 you. Now you can try and get them back on track or off something better for
146:58 on track or off something better for them. I don't like billing non-starters
147:00 them. I don't like billing non-starters personally. A small fee isn't worth a
147:02 personally. A small fee isn't worth a one-star review. But hey, it's your
147:04 one-star review. But hey, it's your choice. Tweak your trial to get the most
147:06 choice. Tweak your trial to get the most customers. If no one takes your trial,
147:08 customers. If no one takes your trial, lower the requirements or penalties. If
147:09 lower the requirements or penalties. If people take your trial but don't follow
147:11 people take your trial but don't follow through, emphasize explaining how fees
147:13 through, emphasize explaining how fees help them. And make sure to include your
147:15 help them. And make sure to include your sales meeting as mandatory. If people
147:17 sales meeting as mandatory. If people don't stay on the back end, better
147:18 don't stay on the back end, better emphasize the value of staying and
147:20 emphasize the value of staying and paying. Get better at delivering and
147:21 paying. Get better at delivering and make sure that what you saw on the back
147:23 make sure that what you saw on the back end makes sense with what you saw on the
147:24 end makes sense with what you saw on the front end. If you start printing money,
147:26 front end. If you start printing money, don't stop. Let people make up for
147:28 don't stop. Let people make up for goofs. People often get discouraged
147:30 goofs. People often get discouraged after getting build, but you can offer
147:32 after getting build, but you can offer an opportunity to make it up. This does
147:34 an opportunity to make it up. This does a great job of getting people back on
147:35 a great job of getting people back on track and converting, but if they miss
147:37 track and converting, but if they miss it, you're justified in billing.
147:39 it, you're justified in billing. Just call it a trial. Even though the
147:41 Just call it a trial. Even though the trial with penalty has some special
147:43 trial with penalty has some special features, you should just call it a free
147:44 features, you should just call it a free trial. Otherwise, people may get scared
147:46 trial. Otherwise, people may get scared and confused. No one wants to be
147:48 and confused. No one wants to be penalized. And if they ask you why you
147:50 penalized. And if they ask you why you free trials this way, just reply with,
147:51 free trials this way, just reply with, "This is how we've always done it." Or,
147:53 "This is how we've always done it." Or, "People just get best results this way."
147:55 "People just get best results this way." Pay less now or pay more later versus
147:57 Pay less now or pay more later versus trial with penalty. I use pay less now
147:59 trial with penalty. I use pay less now or pay more later as a downell for
148:01 or pay more later as a downell for physical products or onetime services.
148:03 physical products or onetime services. And I use trial with penalty as a
148:04 And I use trial with penalty as a downell for recurring products or
148:05 downell for recurring products or services. Also, I've only made this work
148:08 services. Also, I've only made this work in businesses where the customer has to
148:09 in businesses where the customer has to do work to get results. If you find
148:11 do work to get results. If you find other types of businesses these work,
148:12 other types of businesses these work, let me know.
148:14 let me know. Discounts get cards on file. Some people
148:17 Discounts get cards on file. Some people get weird when you offer free stuff and
148:18 get weird when you offer free stuff and ask for a card. And if you have a super
148:20 ask for a card. And if you have a super low price, it justifies asking for the
148:22 low price, it justifies asking for the card. The small price means the card
148:23 card. The small price means the card will probably work when the automatic
148:24 will probably work when the automatic payment starts. So instead of free
148:26 payment starts. So instead of free month, you might offer first month for a
148:28 month, you might offer first month for a dollar, then $X per month when it
148:29 dollar, then $X per month when it recurs. So you can have a $1 trial
148:32 recurs. So you can have a $1 trial rather than a free trial. It works the
148:34 rather than a free trial. It works the same way. Summary points. In a trial
148:37 same way. Summary points. In a trial with penalty offer, customers can try
148:38 with penalty offer, customers can try your product or service for free so long
148:40 your product or service for free so long as they meet your terms. Trial with
148:42 as they meet your terms. Trial with penalty downell offers get yeses from
148:44 penalty downell offers get yeses from people who would have said no. To do
148:46 people who would have said no. To do them, get the card, get the commitment,
148:47 them, get the card, get the commitment, explain what they have to do to get
148:48 explain what they have to do to get results and the meetings they must
148:49 results and the meetings they must attend and what happens if they don't.
148:51 attend and what happens if they don't. Trials with penalties get more paying
148:53 Trials with penalties get more paying customers than normal free trials
148:54 customers than normal free trials because they use your product more and
148:56 because they use your product more and actually get value from it. Use the same
148:58 actually get value from it. Use the same refund criteria from when your money
149:00 refund criteria from when your money back attraction offer one to create your
149:02 back attraction offer one to create your trial with penalty criteria. This way at
149:04 trial with penalty criteria. This way at the end of the trial they've done the
149:05 the end of the trial they've done the stuff that makes great long-term
149:06 stuff that makes great long-term customers and advertise your business
149:08 customers and advertise your business for free. You can break up fees by
149:10 for free. You can break up fees by criteria or you can charge a lump fee. I
149:12 criteria or you can charge a lump fee. I like breaking them up. You make money by
149:14 like breaking them up. You make money by getting people results and turning them
149:15 getting people results and turning them into customers, not nickel and dimming
149:17 into customers, not nickel and dimming them with fees. Use mid-trial check-ins
149:20 them with fees. Use mid-trial check-ins to make more offers. If they love it,
149:22 to make more offers. If they love it, give them more of what they love. If
149:24 give them more of what they love. If they have problems with it, swap it for
149:25 they have problems with it, swap it for what makes sense for them. If they
149:27 what makes sense for them. If they aren't using it, offer them the ability
149:28 aren't using it, offer them the ability to make it up to avoid the fees. Free
149:31 to make it up to avoid the fees. Free gift. Free trial training. Not all
149:34 gift. Free trial training. Not all businesses can do free trials, but if
149:36 businesses can do free trials, but if you can, it's a hell of a downell.
149:37 you can, it's a hell of a downell. There's obviously right and wrong ways
149:38 There's obviously right and wrong ways to do them, and right and wrong
149:39 to do them, and right and wrong businesses do them in. I made a free
149:41 businesses do them in. I made a free video for you covering this chapter and
149:43 video for you covering this chapter and as many details as I could. You can
149:45 as many details as I could. You can watch it at
149:45 watch it at acquisition.com/training/money
149:48 acquisition.com/training/money for free. Enjoy feature downells. Why
149:50 for free. Enjoy feature downells. Why don't we try this instead?
149:53 don't we try this instead? I can't remember one in 2019. This new
149:55 I can't remember one in 2019. This new downell tripled my close rate from 25%
149:57 downell tripled my close rate from 25% to 75% last quarter. And even crazier,
150:00 to 75% last quarter. And even crazier, more people bought the main thing, he
150:01 more people bought the main thing, he said between
150:03 said between ou started offering a payment plan or a
150:05 ou started offering a payment plan or a discount. Neither. Payment plans take
150:08 discount. Neither. Payment plans take too long and discounts devalue my
150:09 too long and discounts devalue my product. Huh. We talk about a high
150:11 product. Huh. We talk about a high ticket product, right? Yep. Geez, what
150:14 ticket product, right? Yep. Geez, what are you doing? I lower the price, but I
150:16 are you doing? I lower the price, but I justify it by cutting a feature. That
150:18 justify it by cutting a feature. That way, I'm not discounting. So, what
150:20 way, I'm not discounting. So, what feature did you cut? My full money back
150:22 feature did you cut? My full money back guarantee. I never thought of guarantees
150:24 guarantee. I never thought of guarantees as a feature. Super. Wait, you downell
150:27 as a feature. Super. Wait, you downell by removing your guarantee? Yep. Works
150:30 by removing your guarantee? Yep. Works great. When we get a price objection, we
150:31 great. When we get a price objection, we just say, "If you don't want the option
150:33 just say, "If you don't want the option to get your money back, you can pay less
150:35 to get your money back, you can pay less or you can keep your money back
150:36 or you can keep your money back guarantee. Which would you prefer?" Once
150:38 guarantee. Which would you prefer?" Once they understand what they give up, they
150:40 they understand what they give up, they often say, "Screw it. I'd rather get the
150:42 often say, "Screw it. I'd rather get the guarantee and get my money back." Ah, so
150:44 guarantee and get my money back." Ah, so they only see the value of the guarantee
150:46 they only see the value of the guarantee after you remove it. And that also
150:48 after you remove it. And that also explains why so many people were buying
150:49 explains why so many people were buying the main thing. Clever. Then I followed
150:51 the main thing. Clever. Then I followed up. How do the numbers break down?
150:54 up. How do the numbers break down? Before I only had one full price option.
150:56 Before I only had one full price option. So if 100 people got on a call, 25
150:58 So if 100 people got on a call, 25 bought. Now 35 people buy the main thing
151:00 bought. Now 35 people buy the main thing and 40 take the downell. So it upped
151:03 and 40 take the downell. So it upped your full price buyers total close rate
151:04 your full price buyers total close rate and cash up front. Nice. Yeah, it
151:07 and cash up front. Nice. Yeah, it changed my life. He said, "The last two
151:10 changed my life. He said, "The last two chapters covered payment plan downells
151:12 chapters covered payment plan downells and trial with penalty. We downsold by
151:14 and trial with penalty. We downsold by keeping the overall price the same, only
151:16 keeping the overall price the same, only changing when and how they paid. In this
151:18 changing when and how they paid. In this chapter, we cover feature downells. With
151:20 chapter, we cover feature downells. With these, we downell by lowering the price.
151:22 these, we downell by lowering the price. But instead of a discount, which makes
151:23 But instead of a discount, which makes the same stuff cheaper, we'll lower the
151:25 the same stuff cheaper, we'll lower the price by changing what they get.
151:27 price by changing what they get. Description. Feature downells lower
151:29 Description. Feature downells lower prices by changing what customers get. I
151:31 prices by changing what customers get. I do them by offering less quantity, lower
151:33 do them by offering less quantity, lower quality, lower price alternatives, or
151:34 quality, lower price alternatives, or cutting optional components. All
151:36 cutting optional components. All features have a price and a value. If
151:38 features have a price and a value. If you remove something, the price goes
151:40 you remove something, the price goes down, sure, but the value goes down,
151:42 down, sure, but the value goes down, too. What features you remove and how
151:44 too. What features you remove and how much you lower the price affect how good
151:45 much you lower the price affect how good of a deal the person gets. This change
151:47 of a deal the person gets. This change in your offer's price to value affects
151:49 in your offer's price to value affects how people buy. People want to get the
151:51 how people buy. People want to get the best deal for them. For instance, if you
151:53 best deal for them. For instance, if you remove stuff they hate and lower the
151:54 remove stuff they hate and lower the price a little, they get a better deal.
151:57 price a little, they get a better deal. If you remove stuff they love and lower
151:58 If you remove stuff they love and lower the price a little, they get a worse
152:00 the price a little, they get a worse deal. Both get people to buy. In the
152:02 deal. Both get people to buy. In the story, customers love the guarantee. The
152:04 story, customers love the guarantee. The guarantee had far more value than its
152:06 guarantee had far more value than its price. So even if they said no at first,
152:08 price. So even if they said no at first, removing the guarantee instantly showed
152:10 removing the guarantee instantly showed its value. Customers saw the higherp
152:12 its value. Customers saw the higherp priced offer as a better deal. So after
152:14 priced offer as a better deal. So after seeing the downell option, they bought
152:15 seeing the downell option, they bought the first offer. People will see the
152:18 the first offer. People will see the value in the thing you removed after
152:19 value in the thing you removed after they see the difference in price. As in,
152:21 they see the difference in price. As in, people weigh how much money they save
152:23 people weigh how much money they save against the value they lose. So clever
152:26 against the value they lose. So clever feature downelling gets customers to
152:27 feature downelling gets customers to re-upsell themselves on more expensive
152:29 re-upsell themselves on more expensive offers. This means you want to remove
152:31 offers. This means you want to remove features from highest to lowest value.
152:33 features from highest to lowest value. Since people want more value for their
152:35 Since people want more value for their money, this incentivizes customers to
152:36 money, this incentivizes customers to make the highest value purchase for
152:38 make the highest value purchase for them. Feature downells have a simple
152:39 them. Feature downells have a simple formula. Take something away, lower the
152:41 formula. Take something away, lower the price, and in so many words, ask, "How
152:43 price, and in so many words, ask, "How about now?" Feature downell examples.
152:45 about now?" Feature downell examples. Feature downselling product and service
152:47 Feature downselling product and service quantity. For services, this might mean
152:50 quantity. For services, this might mean a lower amount, fewer sessions, less
152:51 a lower amount, fewer sessions, less time, or shorter duration. For products,
152:54 time, or shorter duration. For products, it means fewer of them. Product quantity
152:57 it means fewer of them. Product quantity downell. Instead of a three-month
152:59 downell. Instead of a three-month supply, how about we just start with one
153:02 supply, how about we just start with one service quantity downell? Instead of
153:04 service quantity downell? Instead of four sessions per month, why don't you
153:05 four sessions per month, why don't you just start at two? Feature downselling,
153:07 just start at two? Feature downselling, product quality. Think older versions,
153:10 product quality. Think older versions, less reliable materials, materials of
153:12 less reliable materials, materials of lower social status, etc. Product
153:14 lower social status, etc. Product quality downell. Instead of leather
153:17 quality downell. Instead of leather seats, we can do vinyl. How's that
153:18 seats, we can do vinyl. How's that sound? Feature downselling. Service
153:21 sound? Feature downselling. Service quality. This means a lot of things.
153:24 quality. This means a lot of things. I'll give you a few ways I change
153:25 I'll give you a few ways I change quality of services. Hint, this also
153:27 quality of services. Hint, this also works to increase service quality.
153:30 works to increase service quality. Service quality downell. Instead of five
153:32 Service quality downell. Instead of five minute response times, why don't we
153:33 minute response times, why don't we start you at overnight response times?
153:35 start you at overnight response times? You'll save some money and you'll still
153:36 You'll save some money and you'll still get your answers just with a small
153:37 get your answers just with a small delay. More service quality features.
153:41 delay. More service quality features. Time availability come specific times
153:43 Time availability come specific times versus whenever you want. Days of week,
153:45 versus whenever you want. Days of week, Monday, Wednesday, Friday versus any
153:47 Monday, Wednesday, Friday versus any day. Times of day, 9 to5 versus 24
153:50 day. Times of day, 9 to5 versus 24 hours. Amount of time, 15 minute support
153:52 hours. Amount of time, 15 minute support calls versus 60-minute support calls.
153:54 calls versus 60-minute support calls. Location availability. This one location
153:57 Location availability. This one location versus all locations we own.
153:59 versus all locations we own. Cancellations. Reschedule fees versus
154:02 Cancellations. Reschedule fees versus reschedule whenever you want for free.
154:05 reschedule whenever you want for free. Speed of response. Reply in minutes
154:07 Speed of response. Reply in minutes versus hours versus days. Speed of
154:09 versus hours versus days. Speed of delivery. Wait in line versus priority
154:11 delivery. Wait in line versus priority versus same day next day versus next
154:13 versus same day next day versus next week.
154:15 week. Service ratio. One-on-one versus one to
154:17 Service ratio. One-on-one versus one to many versus many to one. Communication
154:19 many versus many to one. Communication method. Tech support versus chat support
154:21 method. Tech support versus chat support versus video call support. Provider
154:24 versus video call support. Provider qualifications. Owner versus longtime
154:26 qualifications. Owner versus longtime employee versus new employee. Live
154:29 employee versus new employee. Live versus recorded. Watch it happening now
154:31 versus recorded. Watch it happening now versus watch it after it happens later.
154:34 versus watch it after it happens later. DIY versus DWI versus DFY. Do it
154:38 DIY versus DWI versus DFY. Do it yourself versus done with you versus
154:40 yourself versus done with you versus done for you. Expirations.
154:43 done for you. Expirations. Works forever versus works for X time
154:46 Works forever versus works for X time versus works only at specific times.
154:48 versus works only at specific times. Personalization. Generic versus made
154:50 Personalization. Generic versus made just for you. Insurance guarantee length
154:53 just for you. Insurance guarantee length of time for one year versus for life.
154:56 of time for one year versus for life. Coverage specific bad thing happens
154:58 Coverage specific bad thing happens versus any bad thing happens. Terms
155:01 versus any bad thing happens. Terms unconditional versus only if you do X,
155:03 unconditional versus only if you do X, Y, and Z. That should get you started.
155:06 Y, and Z. That should get you started. Downselling by removing entire features.
155:08 Downselling by removing entire features. Rather than lowering quantity or
155:10 Rather than lowering quantity or quality, you remove the feature itself.
155:12 quality, you remove the feature itself. In the story, he removed the guarantee.
155:14 In the story, he removed the guarantee. Removing entire feature downell. Instead
155:17 Removing entire feature downell. Instead of priority chat, email support, and
155:18 of priority chat, email support, and calls, why don't we just keep chat and
155:20 calls, why don't we just keep chat and email support, but drop the calls to
155:22 email support, but drop the calls to save you some money. You'll still get
155:23 save you some money. You'll still get your answers. It'll just save us time,
155:24 your answers. It'll just save us time, and we can pass those savings on to you.
155:26 and we can pass those savings on to you. Feature downselling, done for you to do
155:29 Feature downselling, done for you to do it yourself. If someone says no to all
155:31 it yourself. If someone says no to all your service downells, you can sound
155:32 your service downells, you can sound sell another product that solves the
155:34 sell another product that solves the same problem. Done for you to do it
155:36 same problem. Done for you to do it yourself product downell.
155:38 yourself product downell. Chiropractor, instead of chiropractic
155:40 Chiropractor, instead of chiropractic adjustments, let's just start you with
155:42 adjustments, let's just start you with some tools you can use on yourself at
155:44 some tools you can use on yourself at home. Then you'd sell home massage
155:47 home. Then you'd sell home massage tools, foam rollers, mats, etc. Painter,
155:51 tools, foam rollers, mats, etc. Painter, if you can't afford me painting your
155:52 if you can't afford me painting your house, why don't I just give you the
155:53 house, why don't I just give you the paint and lease you one of our spray
155:55 paint and lease you one of our spray machines for a daily rate? Alex Ramoszi,
155:59 machines for a daily rate? Alex Ramoszi, instead of me and my team buying your
156:00 instead of me and my team buying your company and actively growing your
156:01 company and actively growing your business, why don't you just attend a
156:02 business, why don't you just attend a workshop? Cough. Go toacquisition.com.
156:05 workshop? Cough. Go toacquisition.com. Important notes. Remember, never
156:07 Important notes. Remember, never negotiate the price. People who demand
156:10 negotiate the price. People who demand to pay less for the same thing are
156:11 to pay less for the same thing are business terrorists. I don't negotiate
156:13 business terrorists. I don't negotiate with terrorists. If they want to pay
156:15 with terrorists. If they want to pay less now, I offer a payment plan but
156:16 less now, I offer a payment plan but plan. If they want to pay less overall,
156:19 plan. If they want to pay less overall, offer a feature downell. But I don't let
156:20 offer a feature downell. But I don't let anyone pay less just because. Maintain
156:23 anyone pay less just because. Maintain the position of a helper guide.
156:25 the position of a helper guide. Remember, feature downselling means
156:27 Remember, feature downselling means trying to find the best deal for them.
156:29 trying to find the best deal for them. This keeps the conversion collaborative
156:30 This keeps the conversion collaborative rather than competitive. If you act
156:32 rather than competitive. If you act pushy, your offers will exhaust
156:33 pushy, your offers will exhaust customers faster. If you stay a helpful
156:35 customers faster. If you stay a helpful guide, you can downell as many offers as
156:37 guide, you can downell as many offers as necessary without exhausting the
156:38 necessary without exhausting the customer. Tweak your feature downell
156:40 customer. Tweak your feature downell process. We have the job of making the
156:42 process. We have the job of making the product have the highest value to cost
156:44 product have the highest value to cost in the eyes of the customer. But in the
156:45 in the eyes of the customer. But in the beginning, you won't know much about the
156:46 beginning, you won't know much about the customer's preferences. So, as you solve
156:48 customer's preferences. So, as you solve the same problems for the same type of
156:49 the same problems for the same type of customer, you learn what they find the
156:51 customer, you learn what they find the most valuable. Once you do, you can
156:52 most valuable. Once you do, you can standardize your feature downell
156:54 standardize your feature downell process. Feature downells close more
156:56 process. Feature downells close more people when you have feature
156:57 people when you have feature combinations set ahead of time. How I
156:59 combinations set ahead of time. How I standardize my downell process. First, I
157:01 standardize my downell process. First, I cut something valuable and lower the
157:03 cut something valuable and lower the price a little. I do this to get them to
157:05 price a little. I do this to get them to reconsider the original offer or price.
157:07 reconsider the original offer or price. If that fails, I continue removing
157:08 If that fails, I continue removing features and lowering the price until
157:10 features and lowering the price until they buy. I'd rather people buy
157:12 they buy. I'd rather people buy something than get nothing. Name your
157:14 something than get nothing. Name your feature combinations. Name the most
157:16 feature combinations. Name the most expensive combination after a status
157:18 expensive combination after a status your customer would find aspirational.
157:19 your customer would find aspirational. The whale package, the total
157:20 The whale package, the total transformation, the high roller, etc.
157:23 transformation, the high roller, etc. Look at airlines. Make your version of
157:25 Look at airlines. Make your version of first class, business class, economy. I
157:27 first class, business class, economy. I name my cheapest combination the
157:29 name my cheapest combination the minimum. I like it because it implies
157:31 minimum. I like it because it implies they have to at least get that. If
157:33 they have to at least get that. If someone rejects all other packages, I
157:34 someone rejects all other packages, I just say, "So, nothing more than the
157:36 just say, "So, nothing more than the minimum package then?" To get them to
157:37 minimum package then?" To get them to say no to say yes. Like the classic
157:40 say no to say yes. Like the classic upsell, temperature check after two
157:41 upsell, temperature check after two downells, just like the payment plan. If
157:43 downells, just like the payment plan. If you make two changes in a row and they
157:45 you make two changes in a row and they still refuse, make sure they really want
157:46 still refuse, make sure they really want the thing. I'd say something like, "Got
157:48 the thing. I'd say something like, "Got it real quick. Just want to make sure."
157:49 it real quick. Just want to make sure." On a scale from 1 to 10, how bad do you
157:51 On a scale from 1 to 10, how bad do you want this? If they say it or above,
157:53 want this? If they say it or above, start payment plan down selling.
157:54 start payment plan down selling. Awesome. Don't worry. We're going to
157:56 Awesome. Don't worry. We're going to figure out a way to make this happen for
157:57 figure out a way to make this happen for you. If they seven or below, then you
157:59 you. If they seven or below, then you say, "What would a 10 look like?" Then
158:01 say, "What would a 10 look like?" Then recombine the features and try and
158:02 recombine the features and try and accommodate their 10. Note, this means
158:05 accommodate their 10. Note, this means you can alternate between payment plans
158:06 you can alternate between payment plans and feature downells. When you use both,
158:08 and feature downells. When you use both, you become very difficult to refuse.
158:10 you become very difficult to refuse. After each downell, ask deal or fair
158:12 After each downell, ask deal or fair enough. This works astonishingly well.
158:15 enough. This works astonishingly well. Fewer people will see you the change in
158:16 Fewer people will see you the change in your offer for them and then say no,
158:18 your offer for them and then say no, that's not fair. Listen to how I present
158:20 that's not fair. Listen to how I present the feature down cells on episode 202 of
158:22 the feature down cells on episode 202 of my podcast, The Game: How to Close
158:23 my podcast, The Game: How to Close Everyone, Downselling Like a Pro, which
158:25 Everyone, Downselling Like a Pro, which you can listen to on Spotify or Apple or
158:27 you can listen to on Spotify or Apple or iTunes or wherever you listen to
158:28 iTunes or wherever you listen to podcasts. Free orientations boost
158:30 podcasts. Free orientations boost do-it-yourself feature downells. Once
158:32 do-it-yourself feature downells. Once someone has refused all my done for you
158:34 someone has refused all my done for you offers, I ask, "Even though we're not
158:36 offers, I ask, "Even though we're not going to work together on X, I still
158:37 going to work together on X, I still want to help. How about you just come in
158:39 want to help. How about you just come in for a free orientation on X tomorrow?"
158:41 for a free orientation on X tomorrow?" At the end of the orientation, I offer a
158:42 At the end of the orientation, I offer a DIY product that solves the same problem
158:45 DIY product that solves the same problem as the done for you service. For
158:46 as the done for you service. For example, I offered a free orientation to
158:48 example, I offered a free orientation to people who refused my fitness offer. Of
158:50 people who refused my fitness offer. Of the people who showed up to the
158:51 the people who showed up to the orientation, about half, almost all of
158:53 orientation, about half, almost all of them bought supplements. It got me money
158:55 them bought supplements. It got me money from people who had otherwise said no.
158:57 from people who had otherwise said no. Free money for a little extra work.
158:59 Free money for a little extra work. Feature downell your guarantees. If you
159:02 Feature downell your guarantees. If you already have a guarantee, make removing
159:03 already have a guarantee, make removing it part of your feature downell process.
159:05 it part of your feature downell process. People value security, so removing it
159:07 People value security, so removing it gets many to realize its value. This
159:09 gets many to realize its value. This often flips an initial no back to a yes.
159:12 often flips an initial no back to a yes. Feature downell current customers.
159:14 Feature downell current customers. Customers who use all the features they
159:16 Customers who use all the features they pay for, keep paying longer than
159:18 pay for, keep paying longer than customers who don't. So once you see a
159:20 customers who don't. So once you see a customer isn't using a feature, offer a
159:22 customer isn't using a feature, offer a lower price, only paying for the
159:24 lower price, only paying for the features they use. Do this proactively.
159:26 features they use. Do this proactively. They'll either tell you they want to
159:27 They'll either tell you they want to keep it and might start using it again,
159:29 keep it and might start using it again, or they'll be happy you gave them a
159:31 or they'll be happy you gave them a better deal. It takes work, but it beats
159:33 better deal. It takes work, but it beats them actually cancelelling. Fun fact,
159:35 them actually cancelelling. Fun fact, customers we've down into a lower
159:37 customers we've down into a lower package just for them have the second
159:38 package just for them have the second highest LTV of all my customers. When
159:41 highest LTV of all my customers. When people have a product they like at a
159:43 people have a product they like at a price they find fair, they tend to keep
159:45 price they find fair, they tend to keep paying for it. Barter with reviews,
159:47 paying for it. Barter with reviews, testimonials, and referrals. Bartering
159:49 testimonials, and referrals. Bartering is the oldest form of exchange, my sharp
159:51 is the oldest form of exchange, my sharp rock for your rapid skin. And I love
159:53 rock for your rapid skin. And I love bartering. If I get a price objection,
159:55 bartering. If I get a price objection, sometimes I offer discounts in exchange
159:57 sometimes I offer discounts in exchange for advertising. Example, I'll knock a
159:59 for advertising. Example, I'll knock a hundred bucks off if you one, leave them
160:01 hundred bucks off if you one, leave them a review on all sites. Two, leave me a
160:03 a review on all sites. Two, leave me a video testimonial. Three, make a public
160:04 video testimonial. Three, make a public social post at the beginning, middle,
160:06 social post at the beginning, middle, and end of our program showing your
160:07 and end of our program showing your progress. Four, introduce me to two
160:09 progress. Four, introduce me to two friends who you'd want to do this with.
160:10 friends who you'd want to do this with. Deal. To me, the advertising worth more
160:13 Deal. To me, the advertising worth more than the $100 discount. To them, the
160:14 than the $100 discount. To them, the $100 is worth less than the advertising.
160:16 $100 is worth less than the advertising. Win-win. Summary points. Feature
160:19 Win-win. Summary points. Feature downells lower prices by removing stuff.
160:21 downells lower prices by removing stuff. You take something away, lower the
160:22 You take something away, lower the price, and ask, "How about now?" Typical
160:24 price, and ask, "How about now?" Typical feature downells offer less quantity,
160:26 feature downells offer less quantity, lower quality, cheaper alternatives, or
160:28 lower quality, cheaper alternatives, or remove features altogether. People tend
160:30 remove features altogether. People tend to see the value in what you removed
160:32 to see the value in what you removed after see the price difference. This may
160:34 after see the price difference. This may get more people to take the more
160:36 get more people to take the more expensive offer. If you remove stuff
160:38 expensive offer. If you remove stuff they hate and lower the price a lot,
160:40 they hate and lower the price a lot, more people will take the downell. If
160:41 more people will take the downell. If you remove stuff they love and lower the
160:43 you remove stuff they love and lower the price a little, more people take the
160:44 price a little, more people take the original offer. The first downell gets
160:46 original offer. The first downell gets them to reconsider my first offer. the
160:48 them to reconsider my first offer. the rest of my downsells get to consider the
160:50 rest of my downsells get to consider the best deal for them. If a prospect
160:52 best deal for them. If a prospect rejects multiple downsells, see if they
160:54 rejects multiple downsells, see if they still want your thing before continuing.
160:56 still want your thing before continuing. If a prospect likes a combination of
160:57 If a prospect likes a combination of features but still doesn't like the
160:59 features but still doesn't like the price, start payment plan downelling.
161:01 price, start payment plan downelling. Very effective. Feature downell current
161:03 Very effective. Feature downell current customers before they cancel. You can
161:05 customers before they cancel. You can discount customers in exchange for them
161:07 discount customers in exchange for them advertising your business. Free gift
161:10 advertising your business. Free gift feature downell training. No opt-in.
161:12 feature downell training. No opt-in. Understanding features within services
161:13 Understanding features within services and products gives you a huge advantage.
161:15 and products gives you a huge advantage. It can help you make your stuff super
161:17 It can help you make your stuff super profitable while staying attractive to
161:19 profitable while staying attractive to the customer. This is one of my favorite
161:20 the customer. This is one of my favorite topics and I made you an additional
161:22 topics and I made you an additional training that covers it. You can watch
161:23 training that covers it. You can watch it as always at
161:24 it as always at acquisition.com/training/money.
161:26 acquisition.com/training/money. Downell offers conclusion. Everybody
161:28 Downell offers conclusion. Everybody buys something. Downsells give you
161:30 buys something. Downsells give you another shot at getting customer by
161:32 another shot at getting customer by turning nos into yeses. For that reason,
161:34 turning nos into yeses. For that reason, it's less about having a 100 different
161:35 it's less about having a 100 different products with the same offer and more
161:37 products with the same offer and more about having 100 different offers for
161:38 about having 100 different offers for the same product. But no matter what,
161:40 the same product. But no matter what, the offer is never the same stuff for
161:42 the offer is never the same stuff for cheaper. We just keep tweaking the offer
161:44 cheaper. We just keep tweaking the offer until we make it the best deal for them.
161:46 until we make it the best deal for them. The extra cash explodes our 30-day
161:47 The extra cash explodes our 30-day profits and blows us past our goals. So,
161:50 profits and blows us past our goals. So, we've used attraction offers to get
161:52 we've used attraction offers to get customers to buy once. We've used
161:53 customers to buy once. We've used upsells to get them to buy the next
161:55 upsells to get them to buy the next thing. And now, I've showed you the
161:56 thing. And now, I've showed you the three most powerful downsell processes
161:58 three most powerful downsell processes in case they say no. Payment plan
161:59 in case they say no. Payment plan downsells, trial with penalty, and
162:01 downsells, trial with penalty, and feature downells. Next, we've got the
162:03 feature downells. Next, we've got the final stage of a $100 million money
162:05 final stage of a $100 million money model. Continuity offers. How to keep
162:07 model. Continuity offers. How to keep them buying for good. Section five,
162:09 them buying for good. Section five, continuity offers. You can shear sheep
162:11 continuity offers. You can shear sheep for a lifetime, but you can only skin it
162:12 for a lifetime, but you can only skin it once. John, an early mentor. I've been a
162:15 once. John, an early mentor. I've been a continuity guy my entire life. Personal
162:17 continuity guy my entire life. Personal fitness, then gyms, then gym licensing,
162:19 fitness, then gyms, then gym licensing, then supplements, then software, and now
162:21 then supplements, then software, and now with acquisition.com. Lots of stuff.
162:23 with acquisition.com. Lots of stuff. Needless to say, I'm a fan. Main reason.
162:26 Needless to say, I'm a fan. Main reason. When you do continuity, right, you get
162:27 When you do continuity, right, you get more customers and make more from them.
162:30 more customers and make more from them. Continuity offers provide ongoing value
162:32 Continuity offers provide ongoing value that customers make ongoing payments for
162:33 that customers make ongoing payments for until they cancel. They boost the profit
162:35 until they cancel. They boost the profit from every customer and give you one
162:37 from every customer and give you one last thing to sell. Continuity offers
162:39 last thing to sell. Continuity offers are awesome because you sell once but
162:40 are awesome because you sell once but get paid again and again. Let me
162:42 get paid again and again. Let me explain. Let's say you offer a $1,000
162:44 explain. Let's say you offer a $1,000 thing to 100 people and 10 buy. You make
162:46 thing to 100 people and 10 buy. You make $10,000. 10 times $1,000. Now, let's say
162:49 $10,000. 10 times $1,000. Now, let's say you offer the same thing to 100 people,
162:51 you offer the same thing to 100 people, but you make $1,000 thing $50 a month
162:54 but you make $1,000 thing $50 a month instead. At 50 bucks, we can get 40 out
162:56 instead. At 50 bucks, we can get 40 out of the 100 people to buy. And if you
162:58 of the 100 people to buy. And if you keep those people for 20 months, you
163:00 keep those people for 20 months, you still make $1,000 from every customer.
163:02 still make $1,000 from every customer. So, you go from making $10,000 now and
163:04 So, you go from making $10,000 now and $0 over time to $2,000 now and $40,000
163:07 $0 over time to $2,000 now and $40,000 over time. And as an added bonus, in the
163:10 over time. And as an added bonus, in the first example, if you only sold 10
163:11 first example, if you only sold 10 customers, you'd only have 10 customers
163:12 customers, you'd only have 10 customers to upsell later. If you used a
163:14 to upsell later. If you used a continuity offer and sold 40 customers,
163:16 continuity offer and sold 40 customers, you'd have four times the customers to
163:17 you'd have four times the customers to upsell later. A massive difference. This
163:20 upsell later. A massive difference. This illustrates the pros and cons of
163:21 illustrates the pros and cons of continuity. You can attract more
163:23 continuity. You can attract more customers compared to something more
163:24 customers compared to something more expensive, but you make way less money
163:26 expensive, but you make way less money now. That makes it tough to use an
163:28 now. That makes it tough to use an attraction offer on its own. Even if you
163:30 attraction offer on its own. Even if you have more money-making potential
163:31 have more money-making potential tomorrow, continuity attraction offers
163:33 tomorrow, continuity attraction offers leave you strapped for cash today. By
163:34 leave you strapped for cash today. By making continuity offers last, we get
163:36 making continuity offers last, we get the best of all worlds. We get cash
163:38 the best of all worlds. We get cash today from attraction offers, upsell
163:40 today from attraction offers, upsell offers, and downell offers. We get a
163:41 offers, and downell offers. We get a little cash today and a tons of cash
163:43 little cash today and a tons of cash tomorrow from continuity offers. To be
163:45 tomorrow from continuity offers. To be clear, you can make continuity offers
163:47 clear, you can make continuity offers wherever and however you want. They can
163:48 wherever and however you want. They can attract new customers, upsell, downell
163:50 attract new customers, upsell, downell current customers, and re-engage old
163:51 current customers, and re-engage old customers. Also, only some stuff makes
163:54 customers. Also, only some stuff makes sense for a continuity offer. It's silly
163:56 sense for a continuity offer. It's silly for someone to pay for a one-day
163:57 for someone to pay for a one-day workshop forever. It makes sense for
163:59 workshop forever. It makes sense for them to pay until they cover the cost
164:01 them to pay until they cover the cost and that makes it a payment plan. At the
164:02 and that makes it a payment plan. At the same time, you probably make a mistake
164:04 same time, you probably make a mistake to offer a single price, even a big
164:06 to offer a single price, even a big price, to provide a service forever. If
164:08 price, to provide a service forever. If your customers get ongoing value, it
164:09 your customers get ongoing value, it probably makes sense for them to make
164:10 probably makes sense for them to make ongoing payments. The three continuity
164:13 ongoing payments. The three continuity offers. All offers depend on getting
164:15 offers. All offers depend on getting customers to buy it, but continuity
164:16 customers to buy it, but continuity offers depend on getting customers to
164:18 offers depend on getting customers to keep buying. I get them to do both by
164:19 keep buying. I get them to do both by combining bonuses, discounts, and fees.
164:23 combining bonuses, discounts, and fees. Offer one, continuity bonus offers.
164:25 Offer one, continuity bonus offers. Offer two, continuity, discount offers.
164:27 Offer two, continuity, discount offers. Offer three, the waved fee offer. Now
164:30 Offer three, the waved fee offer. Now that we've got that covered, you can't
164:31 that we've got that covered, you can't get customers to stick to your
164:32 get customers to stick to your continuity unless they've started. So,
164:34 continuity unless they've started. So, let's start there. Free gift continuity
164:37 let's start there. Free gift continuity and continuity offers training. Almost
164:39 and continuity offers training. Almost every business I've built has been
164:40 every business I've built has been driven by continuity. It's a snowball
164:42 driven by continuity. It's a snowball that grows and grows. I made a video for
164:43 that grows and grows. I made a video for you that outlines more training on the
164:45 you that outlines more training on the topic. You can watch it free without
164:46 topic. You can watch it free without giving your email at
164:47 giving your email at acquisition.com/training/money.
164:49 acquisition.com/training/money. Continuity bonus offers. If you like
164:51 Continuity bonus offers. If you like this, you're going to love what I have
164:52 this, you're going to love what I have next. Fall 2019. I taught gym owners how
164:56 next. Fall 2019. I taught gym owners how to sell six week challenges, and they
164:57 to sell six week challenges, and they were making money handover fist. But
164:59 were making money handover fist. But some of them weren't that good at
165:01 some of them weren't that good at converting people into continuity after
165:02 converting people into continuity after the challenge. Then out of the blue, I
165:04 the challenge. Then out of the blue, I saw a gym that used to struggle posting
165:05 saw a gym that used to struggle posting numbers way higher than some of our best
165:07 numbers way higher than some of our best performers. Naturally, I investigated.
165:10 performers. Naturally, I investigated. Dude, your numbers are insane. How do
165:12 Dude, your numbers are insane. How do you get so many members? I asked.
165:15 you get so many members? I asked. I'm not really doing the sixe challenge,
165:16 I'm not really doing the sixe challenge, he said. Wait, what do you mean? You're
165:18 he said. Wait, what do you mean? You're marketing six week challenges though,
165:20 marketing six week challenges though, right? Yeah, but I offer them something
165:22 right? Yeah, but I offer them something else when they come in. Okay, help me
165:24 else when they come in. Okay, help me understand. So, we go through the normal
165:26 understand. So, we go through the normal pitch. We explain the price, yada yada.
165:28 pitch. We explain the price, yada yada. As soon as they say they're interested,
165:29 As soon as they say they're interested, we ask if they want to get it for free.
165:31 we ask if they want to get it for free. Of course, they say yes. Then I tell
165:33 Of course, they say yes. Then I tell them that if they become a member, we'll
165:34 them that if they become a member, we'll make it free, which they love. And on
165:36 make it free, which they love. And on top of that, if they become members,
165:38 top of that, if they become members, they also get member exclusive bonuses.
165:40 they also get member exclusive bonuses. Members get better class times,
165:41 Members get better class times, attaining booth, VIP events, all sort of
165:43 attaining booth, VIP events, all sort of cool stuff. It converts like crazy.
165:45 cool stuff. It converts like crazy. Last, we upsell a discounted prepaid
165:47 Last, we upsell a discounted prepaid membership. How's that go? I asked.
165:49 membership. How's that go? I asked. Well, for anyone who joins, we
165:50 Well, for anyone who joins, we immediately say, 'Want to see even more
165:51 immediately say, 'Want to see even more money? They lean in. We offer a prepaid
165:54 money? They lean in. We offer a prepaid discount and bonus for 6 months of
165:55 discount and bonus for 6 months of membership. This is awesome. Does anyone
165:57 membership. This is awesome. Does anyone even take the original challenge offer
165:59 even take the original challenge offer anymore? Some do. Sure. Can't be mad
166:01 anymore? Some do. Sure. Can't be mad about more upfront cash, he said. I dig
166:03 about more upfront cash, he said. I dig it. Break down some of your numbers,
166:04 it. Break down some of your numbers, would you? He continued. Before, we'd
166:07 would you? He continued. Before, we'd get 34 out of 100 to sign up for the
166:09 get 34 out of 100 to sign up for the challenge. Then a few weeks later, we
166:11 challenge. Then a few weeks later, we convert half, 17 to stay. Now, we only
166:14 convert half, 17 to stay. Now, we only get like 15 to sign up for the
166:16 get like 15 to sign up for the challenge, but we get 40 straight into
166:18 challenge, but we get 40 straight into continuity. And of those 40, about eight
166:20 continuity. And of those 40, about eight of them take the six-month prepaid
166:22 of them take the six-month prepaid upsell. So, let me get this straight.
166:24 upsell. So, let me get this straight. You tripled membership sales and you
166:26 You tripled membership sales and you still get upfront cash from challenges.
166:28 still get upfront cash from challenges. And you stack even more upfront cash
166:29 And you stack even more upfront cash from prepaid memberships. He could
166:31 from prepaid memberships. He could barely contain his grin, and for good
166:33 barely contain his grin, and for good reason. His tiny tweak was genius.
166:35 reason. His tiny tweak was genius. Description: With continuity bonuses,
166:37 Description: With continuity bonuses, you give the customer an awesome thing
166:39 you give the customer an awesome thing if they sign up today. Typically, the
166:41 if they sign up today. Typically, the bonus itself has more value than the
166:42 bonus itself has more value than the first continuity payment. That's all
166:44 first continuity payment. That's all there is to it. Bonus, adding value. For
166:47 there is to it. Bonus, adding value. For products, you can give away many small
166:49 products, you can give away many small things or one big product that
166:50 things or one big product that complements the subscription. For
166:52 complements the subscription. For services, you give away to find program,
166:54 services, you give away to find program, onboarding, setup, or feature that adds
166:56 onboarding, setup, or feature that adds value. Discount, lowering costs.
166:59 value. Discount, lowering costs. Remember, anything you offer for free,
167:01 Remember, anything you offer for free, you can also offer as a discount. Free
167:04 you can also offer as a discount. Free stuff and discounts both affect how we
167:06 stuff and discounts both affect how we make decisions. So, we want to do both
167:08 make decisions. So, we want to do both to get the benefits of both. When making
167:10 to get the benefits of both. When making continuity offers, I get more people to
167:12 continuity offers, I get more people to start if I add more good stuff bonuses
167:14 start if I add more good stuff bonuses and take away more bad stuff discounts.
167:16 and take away more bad stuff discounts. And of course, it all works better with
167:18 And of course, it all works better with a dash of urgency if they join now.
167:20 a dash of urgency if they join now. Also, you can offer the bonus as a
167:22 Also, you can offer the bonus as a standalone purchase, or you can only
167:24 standalone purchase, or you can only make it available if they buy your
167:26 make it available if they buy your continuity. Either works on their own.
167:28 continuity. Either works on their own. Continuity offers get less cash now, and
167:31 Continuity offers get less cash now, and that makes it tough for getting
167:32 that makes it tough for getting customers profitably. But the way I use
167:34 customers profitably. But the way I use them, we can still hit our 30-day profit
167:35 them, we can still hit our 30-day profit goals. Here's how. First, I like to do
167:38 goals. Here's how. First, I like to do all my big cash attraction offers,
167:40 all my big cash attraction offers, upsell and downell offers. Then,
167:43 upsell and downell offers. Then, continuity offers get a little bit of
167:44 continuity offers get a little bit of cash for the first month's payment.
167:46 cash for the first month's payment. Then, I offer people who bought one
167:48 Then, I offer people who bought one month a discount on prepaying more
167:49 month a discount on prepaying more months. This further boosts 30-day
167:51 months. This further boosts 30-day profits, giving me more cash to
167:53 profits, giving me more cash to advertise and stacks recurring revenue.
167:55 advertise and stacks recurring revenue. Not too shabby.
167:57 Not too shabby. Author note, no successful continuity
168:00 Author note, no successful continuity business I've seen has a standalone
168:01 business I've seen has a standalone membership offer. They all have other
168:04 membership offer. They all have other bells and whistles to upsell. Main
168:05 bells and whistles to upsell. Main reason continuity offers are tough to
168:07 reason continuity offers are tough to advertise profitably. Nobody wants to
168:09 advertise profitably. Nobody wants to make a recurring commitment to something
168:10 make a recurring commitment to something they haven't tried. To make up for this,
168:13 they haven't tried. To make up for this, businesses attract customers with stuff
168:14 businesses attract customers with stuff like trials. Then once people join, they
168:16 like trials. Then once people join, they upsell other features and longerterm
168:18 upsell other features and longerterm prepayment options. This gets them the
168:20 prepayment options. This gets them the cash they need to advertise while
168:21 cash they need to advertise while building their recurring revenue.
168:23 building their recurring revenue. Examples of getting people to start on
168:24 Examples of getting people to start on continuity.
168:26 continuity. Physical product. Pet food continuity
168:28 Physical product. Pet food continuity offer. Onetime bonus. Get every dog toy
168:31 offer. Onetime bonus. Get every dog toy you've ever made for free and $800 value
168:33 you've ever made for free and $800 value when you sign up for monthly dog food
168:34 when you sign up for monthly dog food shipments for $59 a month. Monthly
168:37 shipments for $59 a month. Monthly bonuses. You'll get a new dog toy every
168:39 bonuses. You'll get a new dog toy every month as a member.
168:41 month as a member. Service. Short-term accelerator offer.
168:44 Service. Short-term accelerator offer. Onetime bonus. Short-term accelerator
168:46 Onetime bonus. Short-term accelerator costs $1,000 on its own. Get it free
168:48 costs $1,000 on its own. Get it free when you become a member for $100 a
168:50 when you become a member for $100 a month. Bonus package. The VIB community
168:52 month. Bonus package. The VIB community enjoys first inline access to our
168:54 enjoys first inline access to our events, longer support hours, and better
168:56 events, longer support hours, and better support reps. Digital products offer.
168:58 support reps. Digital products offer. Onetime bonus. Get all my past 40
169:01 Onetime bonus. Get all my past 40 newsletters valued at $15,880 by
169:03 newsletters valued at $15,880 by becoming a member today only for $399
169:06 becoming a member today only for $399 per month after a 30-day trial. Limited
169:09 per month after a 30-day trial. Limited discount plus lifetime bonus. And if you
169:11 discount plus lifetime bonus. And if you pay today, you can unlock a lifetime
169:13 pay today, you can unlock a lifetime discount to $200 per month. Get early
169:15 discount to $200 per month. Get early digital access and a physical copy every
169:16 digital access and a physical copy every month. Note, use the elements from the
169:19 month. Note, use the elements from the feature downells to create better
169:20 feature downells to create better bonuses. Important notes. Focus on the
169:23 bonuses. Important notes. Focus on the bonus, not the membership. Join my
169:25 bonus, not the membership. Join my membership program isn't nearly as
169:26 membership program isn't nearly as compelling as get this free viable
169:27 compelling as get this free viable thing. So advertise that. then explain
169:29 thing. So advertise that. then explain the rest after they show interest.
169:31 the rest after they show interest. Bonuses kind of work like upsells. More
169:33 Bonuses kind of work like upsells. More of the same. You get two years of past
169:35 of the same. You get two years of past newsletters for free by becoming a
169:36 newsletters for free by becoming a member. Complimentary. You get nutrition
169:39 member. Complimentary. You get nutrition services for free when you sign up for a
169:40 services for free when you sign up for a fitness membership. Upgrade. You get a
169:43 fitness membership. Upgrade. You get a gold membership when you buy a bronze
169:44 gold membership when you buy a bronze membership. Limited availability.
169:47 membership. Limited availability. Keep your bonuses related to your core
169:49 Keep your bonuses related to your core offer. If the bonus is too different,
169:50 offer. If the bonus is too different, you'll attract the wrong customers. For
169:52 you'll attract the wrong customers. For instance, don't advertise a free t-shirt
169:53 instance, don't advertise a free t-shirt to upsell tech services, but advertising
169:56 to upsell tech services, but advertising a free t-shirt to upsell t-shirt
169:57 a free t-shirt to upsell t-shirt printing makes sense. Make bonuses
170:00 printing makes sense. Make bonuses things you already have and do. For
170:02 things you already have and do. For instance, the past 2 years of
170:03 instance, the past 2 years of newsletters cost no extra time, but are
170:05 newsletters cost no extra time, but are super of high value. And onboarding is
170:07 super of high value. And onboarding is something that you have to do with a
170:08 something that you have to do with a client anyways, so you might as well
170:09 client anyways, so you might as well slap a price on it and give it to them
170:11 slap a price on it and give it to them as a bonus. If you value it, they will,
170:13 as a bonus. If you value it, they will, too. Physical bonuses and digital
170:15 too. Physical bonuses and digital products and digital bonuses with
170:17 products and digital bonuses with physical products. If I have a digital
170:19 physical products. If I have a digital membership, I might offer a hat, shirt,
170:21 membership, I might offer a hat, shirt, or tool, etc. related to the offer. If I
170:23 or tool, etc. related to the offer. If I have a physical product or service, like
170:25 have a physical product or service, like a boxing gym membership, offering to
170:27 a boxing gym membership, offering to live stream classes can get more people
170:28 live stream classes can get more people to sign up. This strategy often lowers
170:31 to sign up. This strategy often lowers the cost of getting customers more than
170:32 the cost of getting customers more than the cost of the bonus. And that's the
170:33 the cost of the bonus. And that's the point. Also, if some people take the
170:35 point. Also, if some people take the bonus and run, the lower advertising
170:37 bonus and run, the lower advertising cost still make up for it. If customers
170:39 cost still make up for it. If customers are too expensive, give it a try. Use
170:41 are too expensive, give it a try. Use realistic bonus pricing. The bigger the
170:43 realistic bonus pricing. The bigger the value anchor on your bonus, the more
170:45 value anchor on your bonus, the more compelling the offer. But you also have
170:47 compelling the offer. But you also have to make that anchor believable. Some
170:48 to make that anchor believable. Some business owners make up ridiculous
170:50 business owners make up ridiculous values. Don't do this. It won't anchor
170:52 values. Don't do this. It won't anchor the customer and you'll lose trust with
170:53 the customer and you'll lose trust with them. This is a great opportunity to
170:55 them. This is a great opportunity to give away products you've sold before.
170:56 give away products you've sold before. You can anchor their actual prices as
170:58 You can anchor their actual prices as real discounts and bonuses.
171:01 real discounts and bonuses. You can bonus your customers by giving
171:02 You can bonus your customers by giving them titles. Consider giving customers
171:04 them titles. Consider giving customers titles after they stay 3, 6, or 12
171:06 titles after they stay 3, 6, or 12 months and beyond. Titles like silver,
171:08 months and beyond. Titles like silver, gold, diamond, double diamond, etc. A
171:10 gold, diamond, double diamond, etc. A good friend of mine does this, and after
171:11 good friend of mine does this, and after a while, she found her customers cared
171:13 a while, she found her customers cared more about the title than the other
171:14 more about the title than the other bonuses. She told me that they even
171:16 bonuses. She told me that they even introduced themselves to her by their
171:18 introduced themselves to her by their title. So, if you can't think of
171:20 title. So, if you can't think of something to give them, at the very
171:21 something to give them, at the very least, you can call them something
171:22 least, you can call them something special.
171:24 special. You can make free bonuses, discounts,
171:26 You can make free bonuses, discounts, and make discounts, free bonuses. Free
171:28 and make discounts, free bonuses. Free bonus. Become a member for $200. Then
171:30 bonus. Become a member for $200. Then you get this $1,000 program as a free
171:32 you get this $1,000 program as a free bonus. Steep discount. Get the $1,000
171:35 bonus. Steep discount. Get the $1,000 program for a dollar when you become a
171:36 program for a dollar when you become a member for $200. When making your
171:39 member for $200. When making your continuity offer, anchor the bonuses
171:41 continuity offer, anchor the bonuses first. Sell them the benefits of the
171:42 first. Sell them the benefits of the amazing bonus, not your continuity
171:44 amazing bonus, not your continuity offer, the bonus. Then use your highv
171:48 offer, the bonus. Then use your highv value bonus as an anchor. It may shock
171:49 value bonus as an anchor. It may shock them and that's okay because then when
171:51 them and that's okay because then when you ask, "Do you want to know how you
171:52 you ask, "Do you want to know how you can get this for free?" If they do,
171:54 can get this for free?" If they do, which they will explain how become a VIP
171:57 which they will explain how become a VIP member today and you'll get it all as a
171:59 member today and you'll get it all as a free gift for joining or you can just
172:01 free gift for joining or you can just buy it for x very big number. Which
172:03 buy it for x very big number. Which would you prefer? More bonuses get more
172:06 would you prefer? More bonuses get more people to join. After you ask them if
172:08 people to join. After you ask them if they want to know how to get it for
172:09 they want to know how to get it for free. You tell them they can get it when
172:11 free. You tell them they can get it when they join. Then you say, "On top of
172:13 they join. Then you say, "On top of that, when you become a member, you'll
172:15 that, when you become a member, you'll get amazing thing one, Amazing Thing
172:16 get amazing thing one, Amazing Thing Two, and Amazing Thing three. Mention
172:18 Two, and Amazing Thing three. Mention the individual dollar values of each to
172:20 the individual dollar values of each to anchor the value. Stacking bonuses this
172:22 anchor the value. Stacking bonuses this way gets more people to join your
172:23 way gets more people to join your community. Making bonuses available only
172:25 community. Making bonuses available only to those who join. If you want to force
172:27 to those who join. If you want to force everyone into continuity, then offer
172:29 everyone into continuity, then offer continuity as the only option. In other
172:31 continuity as the only option. In other words, make the bonuses only available
172:32 words, make the bonuses only available if they join the membership. pricing for
172:35 if they join the membership. pricing for continuity versus upfront cash. For
172:37 continuity versus upfront cash. For whatever reason, some people pick
172:38 whatever reason, some people pick onetime payments over continuity, even
172:40 onetime payments over continuity, even with higher onetime payments. So, offer
172:42 with higher onetime payments. So, offer a higher onetime payment option. This
172:44 a higher onetime payment option. This way, some customers will make you more
172:45 way, some customers will make you more money today, while others stack
172:46 money today, while others stack recurring revenue for you tomorrow. We
172:48 recurring revenue for you tomorrow. We change the price depending on our goals.
172:50 change the price depending on our goals. I've tested this a ton, at least for me,
172:52 I've tested this a ton, at least for me, the data on this range looks clear.
172:53 the data on this range looks clear. Check it out. To get 50% to choose
172:56 Check it out. To get 50% to choose continuity, make your standalone offer
172:58 continuity, make your standalone offer 1.33 times more. Example, 3.99
173:02 1.33 times more. Example, 3.99 standalone offer is 2.66 66 a month or
173:05 standalone offer is 2.66 66 a month or 199 per month membership
173:07 199 per month membership to get 60% to choose continuity. Make
173:09 to get 60% to choose continuity. Make the standalone offer 1.66 times more.
173:12 the standalone offer 1.66 times more. Example 4.99 standalone offer which is
173:15 Example 4.99 standalone offer which is 333 a month or the 199 membership to get
173:19 333 a month or the 199 membership to get 70% to choose continuity. Make the
173:21 70% to choose continuity. Make the standalone offer two times more. Example
173:24 standalone offer two times more. Example $600 standalone is $399 a month or $1.99
173:28 $600 standalone is $399 a month or $1.99 per month membership to get 80% to
173:30 per month membership to get 80% to choose continuity. make the standalone
173:32 choose continuity. make the standalone offer 2.33 times more. Example, $6.99
173:35 offer 2.33 times more. Example, $6.99 standalone membership, which is 4.66 a
173:37 standalone membership, which is 4.66 a month or $1.99 per month as a
173:40 month or $1.99 per month as a membership. To get 90% to choose
173:42 membership. To get 90% to choose continuity, make the standalone offer
173:44 continuity, make the standalone offer 2.66 times more. That's $799 as a
173:48 2.66 times more. That's $799 as a standalone offer, which is 532 a month
173:50 standalone offer, which is 532 a month or$1.99 a month if you become a member.
173:54 or$1.99 a month if you become a member. I got these members from testing a lot
173:56 I got these members from testing a lot of different standalone offers versus
173:58 of different standalone offers versus continuity pricing across thousands of
174:00 continuity pricing across thousands of gyms.
174:03 gyms. You may have to figure this out for
174:04 You may have to figure this out for yourself with your own pricing. The
174:06 yourself with your own pricing. The exact numbers matter less than the
174:08 exact numbers matter less than the principle. The smaller the standalone
174:09 principle. The smaller the standalone price compared to the continuity price,
174:11 price compared to the continuity price, the more people buy the standalone. The
174:12 the more people buy the standalone. The larger the standalone price compared to
174:14 larger the standalone price compared to the continuity, the more people choose
174:15 the continuity, the more people choose continuity. If you want more cash
174:17 continuity. If you want more cash upfront, make bonuses and continuity
174:20 upfront, make bonuses and continuity plus bonuses separate offers. Make the
174:22 plus bonuses separate offers. Make the bonus only offer a single payment that's
174:24 bonus only offer a single payment that's 33 to 266% more expensive than the first
174:27 33 to 266% more expensive than the first month of continuity plus bonus offer.
174:29 month of continuity plus bonus offer. The bigger the price difference, the
174:31 The bigger the price difference, the fewer standalone purchases you'll have,
174:33 fewer standalone purchases you'll have, but the more money you'll make upfront
174:35 but the more money you'll make upfront from each. Based on the data I just
174:36 from each. Based on the data I just shared, people pay 33% more to avoid
174:40 shared, people pay 33% more to avoid continuity. In other words, even if you
174:41 continuity. In other words, even if you charge 33% more for a onetime purchase,
174:44 charge 33% more for a onetime purchase, half will buy it. If you want even more
174:46 half will buy it. If you want even more cash, offer bulk prepaid discounts. B
174:49 cash, offer bulk prepaid discounts. B continuity upsells boost 30-day profits
174:51 continuity upsells boost 30-day profits by a lot. Let's say you offer buy five
174:53 by a lot. Let's say you offer buy five months, get one free. Only one out of
174:56 months, get one free. Only one out of every eight people have to take that
174:57 every eight people have to take that upsell to raise 30-day profits by 50%.
175:00 upsell to raise 30-day profits by 50%. That can make or break your money
175:01 That can make or break your money bottle. Note, the laws of discounting
175:04 bottle. Note, the laws of discounting apply. The larger the discount, the more
175:05 apply. The larger the discount, the more people will take it. If you want
175:07 people will take it. If you want commitments, you can pair the bonus with
175:09 commitments, you can pair the bonus with a commitment. For example, only allow
175:12 a commitment. For example, only allow customers to get the bonus if they join
175:13 customers to get the bonus if they join and commit for 3, 6, or 12 months plus.
175:16 and commit for 3, 6, or 12 months plus. You'll get more people to commit this
175:18 You'll get more people to commit this way, but fewer will take it, at least
175:20 way, but fewer will take it, at least compared to giving it to everyone. In
175:21 compared to giving it to everyone. In the beginning, keep it simple. Just
175:23 the beginning, keep it simple. Just offer bonuses standalone and continuity
175:25 offer bonuses standalone and continuity month-to-month. Summary points. When it
175:28 month-to-month. Summary points. When it comes down to it, offering real
175:29 comes down to it, offering real discounts and then following with your
175:30 discounts and then following with your valuable free bonuses makes people
175:32 valuable free bonuses makes people excited about your offer. Then, if they
175:34 excited about your offer. Then, if they agree to your continuity offer, you can
175:36 agree to your continuity offer, you can further upsell blocks of time to boost
175:37 further upsell blocks of time to boost your 30-day profits even more. With
175:39 your 30-day profits even more. With continuity bonuses, you give the
175:41 continuity bonuses, you give the customer an awesome thing if they sign
175:42 customer an awesome thing if they sign up today. Typically, the bonus itself
175:44 up today. Typically, the bonus itself has more value than the first continuity
175:46 has more value than the first continuity payment. If you use continuity as an
175:47 payment. If you use continuity as an attraction offer, advertise what you
175:49 attraction offer, advertise what you give away, not what you sell. Make your
175:51 give away, not what you sell. Make your bonus related to your core offer so you
175:53 bonus related to your core offer so you engage the right leads. If possible,
175:55 engage the right leads. If possible, make your bonuses stuff you already have
175:56 make your bonuses stuff you already have and do. This way, you don't need to
175:58 and do. This way, you don't need to change your business or create new
175:59 change your business or create new products. More people start continuity
176:01 products. More people start continuity if you add more bonuses and discounts.
176:03 if you add more bonuses and discounts. To add bonuses, add more good stuff only
176:05 To add bonuses, add more good stuff only if they sign up. To discount, take away
176:07 if they sign up. To discount, take away the cost of actual products, services,
176:08 the cost of actual products, services, and features you sell. Sell the value of
176:10 and features you sell. Sell the value of the bonus before telling them how they
176:12 the bonus before telling them how they can get it for free. Offer bonuses as a
176:15 can get it for free. Offer bonuses as a standalone option for more cash upfront.
176:17 standalone option for more cash upfront. If you want half the people to take the
176:19 If you want half the people to take the standalone offer, price it 33% above
176:21 standalone offer, price it 33% above your continuity. Boost offering cash
176:23 your continuity. Boost offering cash even more by offering a continuity
176:25 even more by offering a continuity discount if they buy in bulk. Free gift
176:27 discount if they buy in bulk. Free gift continuity bonus offers training. There
176:29 continuity bonus offers training. There are so many ways to structure bonuses to
176:31 are so many ways to structure bonuses to drive more continuity sales. I made a
176:33 drive more continuity sales. I made a video for you that covers this chapter
176:34 video for you that covers this chapter and other creative ways I've seen them
176:36 and other creative ways I've seen them used. You can watch for free at
176:37 used. You can watch for free at acquisition.com/training/money.
176:44 Continuity discount offers. If you sign up today, you get xtime free. Spring
176:47 up today, you get xtime free. Spring 2018. Leila and I had just moved into
176:50 2018. Leila and I had just moved into one of the nicer Austin suburbs. On our
176:52 one of the nicer Austin suburbs. On our afternoon walk, a neighbor smiled and
176:53 afternoon walk, a neighbor smiled and waved us over. It looked like she wanted
176:55 waved us over. It looked like she wanted to make welcome to the neighborhood
176:56 to make welcome to the neighborhood small talk. I hate small talk. But as I
176:59 small talk. I hate small talk. But as I got closer, I got more interested. The
177:00 got closer, I got more interested. The yard was perfect. A Ferrari stuck out
177:02 yard was perfect. A Ferrari stuck out the garage for spring cleaning. the
177:04 the garage for spring cleaning. the patio table littered with cigarettes and
177:06 patio table littered with cigarettes and beer cans. Huh? Hi there. Welcome to the
177:09 beer cans. Huh? Hi there. Welcome to the neighborhood. Let me get the husband. I
177:11 neighborhood. Let me get the husband. I smiled through gritted teeth. Here we
177:12 smiled through gritted teeth. Here we go. Out came the character in backwards
177:15 go. Out came the character in backwards hat flip-flops with a strong Midwest
177:16 hat flip-flops with a strong Midwest accent. Speaking a mile minute in the
177:18 accent. Speaking a mile minute in the widest grin you've ever seen.
177:21 widest grin you've ever seen. Hey, brother man. Nice to meet you. I
177:23 Hey, brother man. Nice to meet you. I can tell you're no doctor or lawyer
177:24 can tell you're no doctor or lawyer living here. So young. What kind of
177:26 living here. So young. What kind of hustle you got? He also got straight to
177:29 hustle you got? He also got straight to the point. Relief. I told him a bit
177:31 the point. Relief. I told him a bit about my gyms, launching gyms, the rise
177:32 about my gyms, launching gyms, the rise of gym launch. He nodded with approval.
177:35 of gym launch. He nodded with approval. He said he liked having another business
177:36 He said he liked having another business owner on the street. "What about you?" I
177:38 owner on the street. "What about you?" I asked. He smirked. "Trash?" "What?"
177:41 asked. He smirked. "Trash?" "What?" "Trash?" He saw my confused look and
177:44 "Trash?" He saw my confused look and continued. "All right, so you see, I
177:46 continued. "All right, so you see, I knew from my time working trash, there
177:48 knew from my time working trash, there wasn't much competition. Big commercial
177:50 wasn't much competition. Big commercial places and all went to the same place
177:51 places and all went to the same place for the trash needs. So, what'd you do?"
177:54 for the trash needs. So, what'd you do?" "Well, I had a truck. I took my credit
177:55 "Well, I had a truck. I took my credit card and I gambled. I went to all the
177:57 card and I gambled. I went to all the big apartments and said I'd do their
177:58 big apartments and said I'd do their trash for a whole year free if they
178:00 trash for a whole year free if they contracted me to do the next 5 years
178:02 contracted me to do the next 5 years paid." It worked good enough. They all
178:04 paid." It worked good enough. They all made me their trash man before I knew
178:05 made me their trash man before I knew it. Dang, I said. You fronted an entire
178:09 it. Dang, I said. You fronted an entire year. Uh-huh. And I'll tell you what, it
178:11 year. Uh-huh. And I'll tell you what, it was the toughest thing I ever did. No
178:13 was the toughest thing I ever did. No one would invest in my business, not
178:14 one would invest in my business, not even my family. They all called me
178:16 even my family. They all called me crazy. But after that one year mark
178:18 crazy. But after that one year mark passed, the cash came flooding. I ate
178:20 passed, the cash came flooding. I ate real fat then. And after a few years
178:22 real fat then. And after a few years using that plan, I sold the whole
178:24 using that plan, I sold the whole shebang for a pretty penny. Nice, man. I
178:27 shebang for a pretty penny. Nice, man. I never would have thought there was so
178:28 never would have thought there was so much money in trash. There's cash in
178:30 much money in trash. There's cash in trash, baby. What can I say? Oh yeah,
178:32 trash, baby. What can I say? Oh yeah, you want a beer or what? Needless to
178:34 you want a beer or what? Needless to say, we stayed friends to this day.
178:36 say, we stayed friends to this day. Listening to his success showed me the
178:37 Listening to his success showed me the sheer power of a simple offer done
178:39 sheer power of a simple offer done right. That said, let's go over some
178:41 right. That said, let's go over some important stuff so you can make it work
178:42 important stuff so you can make it work like he did. Also, if you think this
178:44 like he did. Also, if you think this looks like buy X, get Y free done
178:47 looks like buy X, get Y free done continuity style, then you'd be right.
178:49 continuity style, then you'd be right. However, there are enough differences
178:50 However, there are enough differences specific to continuity that it just
178:52 specific to continuity that it just divided its own chapter. Description. To
178:54 divided its own chapter. Description. To make a onetime continuity discount, you
178:56 make a onetime continuity discount, you give products or services away for free
178:58 give products or services away for free if the customer commits to buying more
178:59 if the customer commits to buying more products and services over time. This
179:01 products and services over time. This can attract loads of potential customers
179:03 can attract loads of potential customers and make an easy sale anyone can close.
179:05 and make an easy sale anyone can close. If you look around, you'll see this
179:06 If you look around, you'll see this software in many different industries.
179:08 software in many different industries. It works. Think internet, pool cleaning,
179:10 It works. Think internet, pool cleaning, gym memberships, landscaping, and
179:12 gym memberships, landscaping, and anything rentalable. I mentioned common
179:14 anything rentalable. I mentioned common ones, but you can make this work in any
179:16 ones, but you can make this work in any business so long as you know two things.
179:18 business so long as you know two things. First, how you apply the discount. I do
179:20 First, how you apply the discount. I do it five ways. And second, your
179:22 it five ways. And second, your cancellation policy because people don't
179:24 cancellation policy because people don't always keep their commitments. Examples:
179:27 always keep their commitments. Examples: I discount in four ways. upfront, at the
179:29 I discount in four ways. upfront, at the end, an even spread, or after the first
179:31 end, an even spread, or after the first month or two. So, let's walk through
179:33 month or two. So, let's walk through each. Upfront, you apply the discount
179:36 each. Upfront, you apply the discount upfront and push out the term, as in the
179:39 upfront and push out the term, as in the official time starts after the free time
179:41 official time starts after the free time ends. This works best in industries who
179:44 ends. This works best in industries who have successful history of enforcing
179:45 have successful history of enforcing contracts, cell phones, storage, real
179:47 contracts, cell phones, storage, real estate, equipment, or anything with
179:48 estate, equipment, or anything with collateral. Two notes. First, if you
179:51 collateral. Two notes. First, if you have historically high churn, then skip
179:52 have historically high churn, then skip this one and consider the others.
179:54 this one and consider the others. Second, this does not get customers
179:56 Second, this does not get customers profitably. It gets customers but delays
179:59 profitably. It gets customers but delays cash. So if you want more profitable
180:00 cash. So if you want more profitable options, continue on.
180:04 options, continue on. Two, at the end. You can apply the
180:06 Two, at the end. You can apply the entire discount at the end and push out
180:08 entire discount at the end and push out the term. So long as they make every
180:10 the term. So long as they make every payment on time, they get a bonus time
180:12 payment on time, they get a bonus time equal to the value of the discount. They
180:14 equal to the value of the discount. They earn their free time. Third, spread over
180:17 earn their free time. Third, spread over time. Apply the discount across the
180:19 time. Apply the discount across the term. Say you give three months free for
180:21 term. Say you give three months free for a one-year commitment. At $200 per
180:23 a one-year commitment. At $200 per month, you've discounted $600. By
180:26 month, you've discounted $600. By spreading that $600 over 12 months, they
180:28 spreading that $600 over 12 months, they get a 600 divided by 12 months equals
180:31 get a 600 divided by 12 months equals $50 discount each month. You can also
180:33 $50 discount each month. You can also tell them that if they made all their
180:34 tell them that if they made all their payments on time, they can keep the
180:36 payments on time, they can keep the discount for life after the term is
180:37 discount for life after the term is over. Fourth way, after the first or
180:40 over. Fourth way, after the first or second payments,
180:42 second payments, they pay a few times and then they get
180:44 they pay a few times and then they get their onetime discount. This way, you
180:46 their onetime discount. This way, you collect a bit of cash to cover
180:47 collect a bit of cash to cover advertising and some delivery costs. I
180:49 advertising and some delivery costs. I prefer to do it by presenting the offer
180:51 prefer to do it by presenting the offer as first and last or last month upfront
180:54 as first and last or last month upfront or adding some sort of activation fee
180:56 or adding some sort of activation fee before getting the bonus value. It
180:58 before getting the bonus value. It ensures your customer used the valid
180:59 ensures your customer used the valid form of payment. A small but important
181:01 form of payment. A small but important detail when you run a business.
181:03 detail when you run a business. Important notes. Highest value per word
181:06 Important notes. Highest value per word note in this book. Skip this if you hate
181:10 note in this book. Skip this if you hate money. Bill weekly. Weekly. Every 2
181:14 money. Bill weekly. Weekly. Every 2 weeks. Every four weeks. Every 12 weeks,
181:16 weeks. Every four weeks. Every 12 weeks, etc. Here's why. There are 12 months in
181:18 etc. Here's why. There are 12 months in a year, but the year has 13 four-week
181:21 a year, but the year has 13 four-week cycles. That's an 8.3% difference. If I
181:25 cycles. That's an 8.3% difference. If I offer my thing at $100 every four weeks
181:28 offer my thing at $100 every four weeks versus $100 a month, the same number of
181:30 versus $100 a month, the same number of people will buy, but I make 8.3% more
181:33 people will buy, but I make 8.3% more annually. To put this in perspective, if
181:36 annually. To put this in perspective, if your business has 20% margins, this
181:38 your business has 20% margins, this skyrockets annual profit by 41%. And the
181:42 skyrockets annual profit by 41%. And the best part is you don't do any more work,
181:44 best part is you don't do any more work, just change a few words. What else can
181:46 just change a few words. What else can you do legally that makes so much money
181:48 you do legally that makes so much money for so little work? This has literally
181:51 for so little work? This has literally made me millions in pure profit. So
181:53 made me millions in pure profit. So yeah, do it. Don't eat into the term
181:56 yeah, do it. Don't eat into the term with discounts, extend them. Let's say
181:58 with discounts, extend them. Let's say you offer 3 months free when you sign up
182:00 you offer 3 months free when you sign up for a year. That could mean they pay for
182:02 for a year. That could mean they pay for 9 months then get three free, so 12
182:05 9 months then get three free, so 12 months total. Or that could mean they
182:07 months total. Or that could mean they pay 12 months and get three free, 15
182:10 pay 12 months and get three free, 15 months total. I prefer with extending
182:12 months total. I prefer with extending the term. Then I can feature downell to
182:15 the term. Then I can feature downell to a shorter one.
182:17 a shorter one. Get 3% more revenue for four extra
182:19 Get 3% more revenue for four extra words. Yeah, it's X plus a 3% processing
182:23 words. Yeah, it's X plus a 3% processing fee. In my life, I've never had anyone
182:26 fee. In my life, I've never had anyone not buy because of a processing fee. But
182:28 not buy because of a processing fee. But 3% added to your topline for no extra
182:30 3% added to your topline for no extra work goes straight to your bottom line.
182:32 work goes straight to your bottom line. If you run a 10% margin business and add
182:34 If you run a 10% margin business and add 3%, you just added 30% to your profit.
182:36 3%, you just added 30% to your profit. Worth it. And this works especially well
182:39 Worth it. And this works especially well when paired to get two forms of payment.
182:42 when paired to get two forms of payment. Recurring businesses lose mountains of
182:44 Recurring businesses lose mountains of cash because of payment processing
182:45 cash because of payment processing problems. First, customers don't cancel,
182:48 problems. First, customers don't cancel, but their payment information changes or
182:50 but their payment information changes or expires. Second, customers max out cards
182:53 expires. Second, customers max out cards or have insufficient funds. We fix both
182:55 or have insufficient funds. We fix both issues with the same solution. I ask
182:58 issues with the same solution. I ask them if they want a 3% discount, a
183:00 them if they want a 3% discount, a pretty standard processing fee. Do you
183:02 pretty standard processing fee. Do you want to save the processing fee?
183:03 want to save the processing fee? Awesome. Give us a second for payment in
183:05 Awesome. Give us a second for payment in case anything happens to the first one.
183:07 case anything happens to the first one. If they ask why, which they rarely do,
183:09 If they ask why, which they rarely do, just say, "We only have the processing
183:11 just say, "We only have the processing fee because it costs us manh hours to
183:12 fee because it costs us manh hours to get new information every month from our
183:14 get new information every month from our customers. So, if you save us time, we
183:16 customers. So, if you save us time, we pass the savings on to you. Get AC if
183:19 pass the savings on to you. Get AC if you can. If you get a second form of
183:22 you can. If you get a second form of payment, try to get a
183:25 payment, try to get a short for automated clearing house. This
183:27 short for automated clearing house. This is a form of payment that links directly
183:29 is a form of payment that links directly to their bank account. It's the cheapest
183:31 to their bank account. It's the cheapest way to transact besides cash. If you
183:33 way to transact besides cash. If you don't know what a is, look it up. Gift
183:35 don't know what a is, look it up. Gift cards. Give the discounted time in the
183:37 cards. Give the discounted time in the form of a physical gift card. You can
183:39 form of a physical gift card. You can mail it to them if they're out of the
183:40 mail it to them if they're out of the area. The customer can apply the
183:42 area. The customer can apply the discount whenever they want after their
183:44 discount whenever they want after their first three payments or so. Then you can
183:46 first three payments or so. Then you can say they can also gift that to a friend
183:48 say they can also gift that to a friend if they want. And now you've got a lead
183:50 if they want. And now you've got a lead magnet. Beyond that, many people simply
183:52 magnet. Beyond that, many people simply forget to use it. In that instance, you
183:54 forget to use it. In that instance, you just got a full price signup. Nice.
183:57 just got a full price signup. Nice. Try giving a lifetime discount at your
183:59 Try giving a lifetime discount at your most common turn point. You advertise
184:02 most common turn point. You advertise the lifetime discount, but you make
184:04 the lifetime discount, but you make customers earn it. They get a lower rate
184:06 customers earn it. They get a lower rate if they stay past X period. Make X month
184:09 if they stay past X period. Make X month your average customer drop off. Let's
184:11 your average customer drop off. Let's say you know every customer stays four
184:13 say you know every customer stays four months on average. You tell everyone
184:15 months on average. You tell everyone upfront they get a lifetime discount
184:17 upfront they get a lifetime discount after month four. As the time
184:19 after month four. As the time approaches, tell them their new lower
184:20 approaches, tell them their new lower rate is right around the corner. Real
184:22 rate is right around the corner. Real world example. I saw a rice company
184:25 world example. I saw a rice company selling a lot of rice. They offered
184:27 selling a lot of rice. They offered three pricing options. One, a onetime
184:29 three pricing options. One, a onetime price. Two, a 5% off subscription. and
184:31 price. Two, a 5% off subscription. and three, 15% off if you stayed on the
184:34 three, 15% off if you stayed on the subscription for five straight months.
184:36 subscription for five straight months. You earned the lifetime lower rate. I'm
184:38 You earned the lifetime lower rate. I'm sure they figured out that that was just
184:39 sure they figured out that that was just beyond where most people canceled.
184:42 beyond where most people canceled. Cancellations.
184:43 Cancellations. You need to have a cancellation policy
184:45 You need to have a cancellation policy figured out ahead of time. There are
184:47 figured out ahead of time. There are many common ones. 30 or 60 days notice,
184:50 many common ones. 30 or 60 days notice, cancellation fees, cancel any time, etc.
184:53 cancellation fees, cancel any time, etc. Since everyone comes into my continuity
184:55 Since everyone comes into my continuity offers on a discount of some kind, this
184:57 offers on a discount of some kind, this is my favorite. Just make the
184:58 is my favorite. Just make the cancellation fee equal to the discount
185:00 cancellation fee equal to the discount they agreed to. So if they got $600 in
185:03 they agreed to. So if they got $600 in discounts by committing, they can pay
185:04 discounts by committing, they can pay $600 whenever they want to cancel. This
185:07 $600 whenever they want to cancel. This is very simple to explain.
185:09 is very simple to explain. Make sure customers know how to cancel.
185:12 Make sure customers know how to cancel. If customers have nowhere to complain
185:13 If customers have nowhere to complain inside your business, they will
185:14 inside your business, they will definitely complain outside of your
185:15 definitely complain outside of your business. If you have no obvious way for
185:17 business. If you have no obvious way for them to cancel, more people will vanish
185:19 them to cancel, more people will vanish and complain. By having a clear way for
185:21 and complain. By having a clear way for them to contact you, then you can have a
185:23 them to contact you, then you can have a real chance to save it. Small businesses
185:26 real chance to save it. Small businesses don't get rich by making stuff hard for
185:28 don't get rich by making stuff hard for their customers. If you make it easy,
185:30 their customers. If you make it easy, you'll suffer fewer onestar reviews and
185:32 you'll suffer fewer onestar reviews and have a chance to save them when they do
185:33 have a chance to save them when they do because you'll know about it. If a
185:36 because you'll know about it. If a customer wants to cancel, ask to do an
185:38 customer wants to cancel, ask to do an exit interview. Some people like to
185:39 exit interview. Some people like to vent. Let them get more angry about the
185:42 vent. Let them get more angry about the problem than them. They may try to calm
185:44 problem than them. They may try to calm you down. Sometimes they'll save
185:45 you down. Sometimes they'll save themselves. If they complain about
185:47 themselves. If they complain about something that you can solve, by golly,
185:49 something that you can solve, by golly, solve it. If they wanted a better
185:50 solve it. If they wanted a better product, do a rollover upsell into
185:52 product, do a rollover upsell into higher level of service if you have one
185:54 higher level of service if you have one to offer. I've had many people buy a
185:56 to offer. I've had many people buy a lowerc cost offer, then complain because
185:58 lowerc cost offer, then complain because they wanted a higher cost feature. So, I
186:00 they wanted a higher cost feature. So, I offer the higher cost feature and then
186:02 offer the higher cost feature and then they buy. Yes, it happens and yes, it
186:04 they buy. Yes, it happens and yes, it works. Use cancellation fees to the
186:07 works. Use cancellation fees to the customer's advantage. I might say, I'll
186:09 customer's advantage. I might say, I'll wave your cancellation fee if you come
186:11 wave your cancellation fee if you come in and tell me what I could do better.
186:12 in and tell me what I could do better. This gives customer a real reason to
186:14 This gives customer a real reason to give feedback. Then I can use their
186:16 give feedback. Then I can use their feedback to fix the problem or offer
186:18 feedback to fix the problem or offer something better suited for them. At the
186:19 something better suited for them. At the very least, they'll have nicer things to
186:21 very least, they'll have nicer things to say about the business if I actually try
186:22 say about the business if I actually try to solve the problem. I routinely save a
186:25 to solve the problem. I routinely save a third to half of customers that agree to
186:26 third to half of customers that agree to exit interviews.
186:28 exit interviews. Summary points. Continuity discount
186:31 Summary points. Continuity discount offers give continuity time for free if
186:33 offers give continuity time for free if the customer signs up today.
186:35 the customer signs up today. Front-loaded discounts convert more
186:36 Front-loaded discounts convert more customers but may have higher churn.
186:39 customers but may have higher churn. Backloading discounts convert fewer
186:40 Backloading discounts convert fewer customers but they have lower churn.
186:42 customers but they have lower churn. Spreading the discount keeps cash
186:44 Spreading the discount keeps cash flowing while providing the full
186:45 flowing while providing the full discount. Use gift cards to give the
186:47 discount. Use gift cards to give the discount to new customers and allow them
186:49 discount to new customers and allow them to gift it to a friend or use it on
186:50 to gift it to a friend or use it on themselves at a later date. You get a
186:52 themselves at a later date. You get a full price signup and a referral. Allow
186:54 full price signup and a referral. Allow customers to earn a lifetime discount at
186:56 customers to earn a lifetime discount at your month of greatest churn to
186:57 your month of greatest churn to encourage customers to stick through it
186:59 encourage customers to stick through it for a lifetime lower rate.
187:02 for a lifetime lower rate. Lights cancellation terms get more
187:03 Lights cancellation terms get more people to sign up but more people to
187:05 people to sign up but more people to leave. Harsher terms get fewer people to
187:07 leave. Harsher terms get fewer people to sign up but fewer to leave. I prefer
187:09 sign up but fewer to leave. I prefer customers cancel by paying the discount
187:10 customers cancel by paying the discount they got with their commitment. This
187:12 they got with their commitment. This puts them back to the month-to-month
187:14 puts them back to the month-to-month rate. Make sure customers know how to
187:16 rate. Make sure customers know how to cancel. If a customer wants to cancel,
187:19 cancel. If a customer wants to cancel, ask for an exit interview. Incentivize
187:21 ask for an exit interview. Incentivize them by saying you'll wave the
187:22 them by saying you'll wave the cancellation fee if they do. You'll
187:24 cancellation fee if they do. You'll often be able to save or upsell them
187:26 often be able to save or upsell them from the conversation. At the very
187:27 from the conversation. At the very least, you'll understand what went wrong
187:29 least, you'll understand what went wrong so you can do better.
187:35 Free gift. Continuity discount offers training. Like bonuses, discounts are
187:37 training. Like bonuses, discounts are only limited by your creativity. In this
187:39 only limited by your creativity. In this chapter, I give you the building blocks.
187:41 chapter, I give you the building blocks. I also made you a video covering some of
187:42 I also made you a video covering some of the creative ways I've seen used and
187:44 the creative ways I've seen used and work. As usual, you can watch for free
187:46 work. As usual, you can watch for free at acquisition.com/training/money.
187:49 at acquisition.com/training/money. Waved fee offer. You can sign up
187:51 Waved fee offer. You can sign up monthtomonth with the setup fee or I'll
187:53 monthtomonth with the setup fee or I'll wave it if you commit to a year.
187:56 wave it if you commit to a year. January 2021. For years, I've heard
187:59 January 2021. For years, I've heard stories about the legend of this high
188:00 stories about the legend of this high ticket sales guy. Today, I finally got
188:02 ticket sales guy. Today, I finally got to meet him. But then it got weird.
188:04 to meet him. But then it got weird. You'd think a man with a reputation like
188:06 You'd think a man with a reputation like his would love working, but not him. In
188:07 his would love working, but not him. In fact, his views about work nearly
188:09 fact, his views about work nearly opposed mine. He aimed to work as little
188:11 opposed mine. He aimed to work as little as possible, and those lifestyle guys
188:13 as possible, and those lifestyle guys tend to put me off. But he had his
188:15 tend to put me off. But he had his legendary reputation for a reason. So,
188:17 legendary reputation for a reason. So, it made me all the more interested. I'd
188:19 it made me all the more interested. I'd rather make a few million bucks a year
188:20 rather make a few million bucks a year with zero employees and cool customers
188:22 with zero employees and cool customers than build some gigantic business that
188:23 than build some gigantic business that panders to anyone willing to give me a
188:25 panders to anyone willing to give me a buck. He said, "I don't need to feed my
188:27 buck. He said, "I don't need to feed my ego. I just collect monthly payments and
188:29 ego. I just collect monthly payments and chill." Yeah, right. Monthly payments. I
188:32 chill." Yeah, right. Monthly payments. I was like, "That sounds less chill than
188:33 was like, "That sounds less chill than up front. Don't you have to deal with
188:35 up front. Don't you have to deal with churn, backouts, and all the other
188:36 churn, backouts, and all the other hassles of continuity?" I said, "Nope,
188:38 hassles of continuity?" I said, "Nope, not really. The way I sell is so simple,
188:41 not really. The way I sell is so simple, you'll kick yourself once you hear it."
188:42 you'll kick yourself once you hear it." He said, "I'm all ears." I tell
188:45 He said, "I'm all ears." I tell customers they have two options. You can
188:46 customers they have two options. You can go monthtomonth with a big setup fee. It
188:49 go monthtomonth with a big setup fee. It covers the cost of getting you started,
188:50 covers the cost of getting you started, but you can leave whenever, or if you
188:52 but you can leave whenever, or if you commit to a year, I'll wave the fee. And
188:55 commit to a year, I'll wave the fee. And I make the fee huge so buyers commit to
188:57 I make the fee huge so buyers commit to avoid it. I also have them initial. They
188:59 avoid it. I also have them initial. They understand they can quit early if they
189:00 understand they can quit early if they pay the fee. behaved. Why such a big
189:02 pay the fee. behaved. Why such a big fee? I asked. It costs a lot to quit in
189:05 fee? I asked. It costs a lot to quit in the beginning, so that keeps them
189:06 the beginning, so that keeps them engaged. And I chimed in, and once they
189:09 engaged. And I chimed in, and once they pass that point, it costs about the same
189:11 pass that point, it costs about the same to cancel as it does to stick it out.
189:12 to cancel as it does to stick it out. So, they just stick it out. Bingo.
189:15 So, they just stick it out. Bingo. Description:
189:17 Description: Waved fee offer works like this. First,
189:19 Waved fee offer works like this. First, you ask the customer to pay a startup
189:21 you ask the customer to pay a startup fee as part of joining a month-to-month
189:23 fee as part of joining a month-to-month program. Typically, I do three to five
189:25 program. Typically, I do three to five times my monthly rate. Then, you offer
189:27 times my monthly rate. Then, you offer to discount the entire fee if they
189:29 to discount the entire fee if they commit to a longer term. But if they
189:31 commit to a longer term. But if they cancel inside the term, they pay the
189:33 cancel inside the term, they pay the fee. Customers can choose to pay a
189:35 fee. Customers can choose to pay a significant fee and keep the option to
189:36 significant fee and keep the option to quit at any time or they can commit the
189:39 quit at any time or they can commit the 12 months and get the fee waved.
189:41 12 months and get the fee waved. Many will commit to avoid the big fee.
189:44 Many will commit to avoid the big fee. We take a greater risk if they pay
189:45 We take a greater risk if they pay monthtomonth, but they take a greater
189:47 monthtomonth, but they take a greater risk if they commit. If a customer
189:49 risk if they commit. If a customer chooses month-to-month, we lower our
189:51 chooses month-to-month, we lower our risk with the startup fee, but we lower
189:53 risk with the startup fee, but we lower their risk yeartoear by waving those
189:55 their risk yeartoear by waving those fees. And if they commit and want to
189:57 fees. And if they commit and want to quit early, then okay. They pay as if
190:00 quit early, then okay. They pay as if they had chosen month-to-month from the
190:01 they had chosen month-to-month from the beginning. Very simple. Bottom line,
190:04 beginning. Very simple. Bottom line, customers will stay longer if leaving
190:06 customers will stay longer if leaving costs more than staying.
190:08 costs more than staying. Example, since the offer focuses more on
190:10 Example, since the offer focuses more on pricing, it'll look the same in all
190:12 pricing, it'll look the same in all continuity businesses. The following
190:13 continuity businesses. The following examples pulls from the story to give
190:15 examples pulls from the story to give you a closer look at the mechanics.
190:18 you a closer look at the mechanics. Waved fees with commitment. Commitment
190:21 Waved fees with commitment. Commitment length 12 months. Monthly rate $1,000
190:23 length 12 months. Monthly rate $1,000 per month. Fee $5,000 if they pay
190:26 per month. Fee $5,000 if they pay month-to-month. So, option A, pay
190:29 month-to-month. So, option A, pay onetime fee of $5,000 plus $1,000 for
190:32 onetime fee of $5,000 plus $1,000 for the first month, then pay $1,000 per
190:35 the first month, then pay $1,000 per month thereafter. Cancel whenever you
190:36 month thereafter. Cancel whenever you want. Option B, wave the $5,000. If you
190:40 want. Option B, wave the $5,000. If you commit to 12 months, pay $1,000 per
190:42 commit to 12 months, pay $1,000 per month. Only pay the $5,000 if you break
190:45 month. Only pay the $5,000 if you break your commitment early.
190:48 your commitment early. Important notes, fees get them to start.
190:51 Important notes, fees get them to start. People get value out of commuting
190:53 People get value out of commuting immediately because they avoid the fee.
190:55 immediately because they avoid the fee. People want to avoid fees. So more
190:58 People want to avoid fees. So more people sign up to continuity. Mission
190:59 people sign up to continuity. Mission accomplished. Fees get them to stick.
191:02 accomplished. Fees get them to stick. People will stick for the same reason
191:04 People will stick for the same reason they started. By sticking they avoid the
191:06 they started. By sticking they avoid the fee. People quit for millions of
191:08 fee. People quit for millions of reasons. But incurring an additional and
191:10 reasons. But incurring an additional and larger fee in order to cancel their
191:12 larger fee in order to cancel their original reason for quitting immediately
191:14 original reason for quitting immediately shrinks compared to the value of
191:16 shrinks compared to the value of avoiding the fee. In English, if the
191:18 avoiding the fee. In English, if the cost to quit exceeds the cost to stay,
191:20 cost to quit exceeds the cost to stay, they'll probably stay.
191:23 they'll probably stay. Presenting the fee. justify the fee by
191:26 Presenting the fee. justify the fee by explaining the cost of taking on new
191:27 explaining the cost of taking on new customers for long-term programs.
191:29 customers for long-term programs. Basically, if they want short-term
191:31 Basically, if they want short-term flexibility, they pay their own setup
191:33 flexibility, they pay their own setup costs. But if they commit to staying
191:35 costs. But if they commit to staying long-term, we pay their setup costs for
191:37 long-term, we pay their setup costs for them. If someone asks for additional
191:39 them. If someone asks for additional reasoning, just say, "It costs us money
191:41 reasoning, just say, "It costs us money to get you started. If you only want to
191:42 to get you started. If you only want to test us out, you cover those costs. If
191:44 test us out, you cover those costs. If you commit to longer, I'll cover them."
191:46 you commit to longer, I'll cover them." If more than 5% of people want to cancel
191:48 If more than 5% of people want to cancel early, look into it. Pricing
191:50 early, look into it. Pricing incentivizes stick, but can't and
191:53 incentivizes stick, but can't and shouldn't overcome a terrible product.
191:55 shouldn't overcome a terrible product. You want to nudge them, not handcuff
191:56 You want to nudge them, not handcuff people into paying for something they
191:57 people into paying for something they hate. Then they'll just hate you.
192:01 hate. Then they'll just hate you. If you want more cash up front, have a
192:03 If you want more cash up front, have a smaller fee. A smaller fee encourages
192:05 smaller fee. A smaller fee encourages people to go month-to-month. A larger
192:07 people to go month-to-month. A larger fee encourages people to make the
192:08 fee encourages people to make the commitment. But if you need more cash up
192:10 commitment. But if you need more cash up front, you can make the fee one and a
192:12 front, you can make the fee one and a half to three times the monthly rate.
192:13 half to three times the monthly rate. When you do this, more people will take
192:15 When you do this, more people will take it and you'll get more cash upfront.
192:17 it and you'll get more cash upfront. Drop the fee after the customer fulfills
192:19 Drop the fee after the customer fulfills the commitment. If someone stays the
192:21 the commitment. If someone stays the entirety of their commitment, then wants
192:22 entirety of their commitment, then wants to cancel, they have earned their free
192:24 to cancel, they have earned their free cancellation. It doesn't stick forever.
192:26 cancellation. It doesn't stick forever. This makes it equitable. I prefer this
192:29 This makes it equitable. I prefer this offer for commitments of one year and
192:31 offer for commitments of one year and longer. The longer the commitment, the
192:33 longer. The longer the commitment, the better this works. It works especially
192:35 better this works. It works especially well with services that take a long time
192:37 well with services that take a long time to work. Think SEO, investing, weight
192:40 to work. Think SEO, investing, weight loss, etc. It keeps people committed
192:42 loss, etc. It keeps people committed when they get emotional.
192:44 when they get emotional. Cancellation fees for a cause.
192:47 Cancellation fees for a cause. If you want to keep customers extra
192:49 If you want to keep customers extra motivated, you can donate their fee to a
192:52 motivated, you can donate their fee to a cause that they are against. Example,
192:55 cause that they are against. Example, what cause do you absolutely hate?
192:57 what cause do you absolutely hate? Great. If you cancel early, I will be
192:59 Great. If you cancel early, I will be donating your setup fee to them. This
193:01 donating your setup fee to them. This gives them two reasons to stay. First,
193:03 gives them two reasons to stay. First, because they don't want to shout the
193:04 because they don't want to shout the cash. Second, because they don't want it
193:05 cash. Second, because they don't want it to go to a cause they hate. Summary
193:08 to go to a cause they hate. Summary points. Waved fee offers present a
193:10 points. Waved fee offers present a month-to-month option with a fee or wave
193:13 month-to-month option with a fee or wave the fee if they commit. I typically make
193:15 the fee if they commit. I typically make the fee three to five times my monthly
193:17 the fee three to five times my monthly rate. At minimum, the commitment length
193:19 rate. At minimum, the commitment length should be a year. The larger your fee,
193:21 should be a year. The larger your fee, the more buyers will offer the
193:22 the more buyers will offer the commitment. The smaller your fee, the
193:24 commitment. The smaller your fee, the more upfront cash you'll get. If the
193:26 more upfront cash you'll get. If the customer meets the commitment, the fee
193:28 customer meets the commitment, the fee officially goes away.
193:30 officially goes away. Free gift. Wave fee video training. Wave
193:33 Free gift. Wave fee video training. Wave fees are so so so effective. I can't
193:36 fees are so so so effective. I can't wait for you to actually use them and
193:37 wait for you to actually use them and see for yourself. To make sure you feel
193:39 see for yourself. To make sure you feel confident doing them on your own, I made
193:41 confident doing them on your own, I made a video walking you through them. As
193:43 a video walking you through them. As usual, you can watch for free
193:45 usual, you can watch for free atacquisition.com/training/money.
193:52 Continuity offers conclusion. The only thing better than getting someone to buy
193:53 thing better than getting someone to buy once is getting them to buy again.
193:56 once is getting them to buy again. Continuity offers provide ongoing value
193:58 Continuity offers provide ongoing value that customers make ongoing payments for
194:00 that customers make ongoing payments for until they cancel. Many businesses use
194:02 until they cancel. Many businesses use continuity offers to attract customers
194:04 continuity offers to attract customers for less, but it crashes 30-day profits.
194:07 for less, but it crashes 30-day profits. This makes profitable advertising
194:08 This makes profitable advertising difficult. I use continuity offers
194:10 difficult. I use continuity offers differently. I make them last. I start
194:13 differently. I make them last. I start with profitable attraction offers, then
194:15 with profitable attraction offers, then make my upsell and downell offers, then
194:17 make my upsell and downell offers, then I offer continuity. And if they accept,
194:19 I offer continuity. And if they accept, I upsell bulk payments of time or
194:21 I upsell bulk payments of time or product at a discount. Then they
194:23 product at a discount. Then they automatically enter continuity after
194:24 automatically enter continuity after they've used up their bulk purchase.
194:26 they've used up their bulk purchase. This way, I make even more cash and I
194:28 This way, I make even more cash and I get the recurring cash benefits of the
194:30 get the recurring cash benefits of the other continuity customers. Continuity
194:32 other continuity customers. Continuity offers work with rewards or punishment.
194:34 offers work with rewards or punishment. I prefer rewards and two of the three
194:36 I prefer rewards and two of the three continuity offers I explained to use
194:38 continuity offers I explained to use them, but there will always be times
194:39 them, but there will always be times when a more traditional contract makes
194:41 when a more traditional contract makes sense. In those situation, I like wave
194:43 sense. In those situation, I like wave fee offers. In the next section, we will
194:46 fee offers. In the next section, we will create our $100 million money model by
194:48 create our $100 million money model by combining all four offer types.
194:49 combining all four offer types. Attraction offers, upsell offers,
194:51 Attraction offers, upsell offers, downell offers, and continuity offers.
194:52 downell offers, and continuity offers. Let's put a bow on it. Author note, last
194:55 Let's put a bow on it. Author note, last call. have a cool continuity offer. If
194:57 call. have a cool continuity offer. If you do, I'd love to see it. You can send
194:59 you do, I'd love to see it. You can send it to valueacquisition.com.
195:01 it to valueacquisition.com. Just follow the five-step format I use
195:03 Just follow the five-step format I use in all the examples in this book and
195:05 in all the examples in this book and send any links that you can so I can
195:07 send any links that you can so I can check it out. I'll give you credit and
195:08 check it out. I'll give you credit and I'll publish the cool ones on my
195:09 I'll publish the cool ones on my channel.
195:11 channel. Section six, make your money model. How
195:14 Section six, make your money model. How to take over your entire market.
195:18 to take over your entire market. Looking back at the evolution of Gym
195:19 Looking back at the evolution of Gym Launch's $100 million money model today,
195:22 Launch's $100 million money model today, I accidentally discovered the Gym Launch
195:24 I accidentally discovered the Gym Launch licensing money model. I went from
195:25 licensing money model. I went from flying around and filling gyms to
195:27 flying around and filling gyms to licensing the stuff I used when I did
195:28 licensing the stuff I used when I did it. This way, gym owners could do it
195:30 it. This way, gym owners could do it themselves. Looking back, it all started
195:32 themselves. Looking back, it all started with a decoy offer. I attracted new
195:35 with a decoy offer. I attracted new customers with lots of free books,
195:36 customers with lots of free books, courses, video training, live training,
195:38 courses, video training, live training, and so on. All the stuff on growing a
195:40 and so on. All the stuff on growing a gym. Each product came with its own free
195:42 gym. Each product came with its own free call to help gym owners use it. On the
195:44 call to help gym owners use it. On the call, I'd offer a decoy offer. Now that
195:46 call, I'd offer a decoy offer. Now that you've got the plan, you could do it on
195:47 you've got the plan, you could do it on your own for free. Or the premium offer.
195:49 your own for free. Or the premium offer. We can help you implement all this stuff
195:50 We can help you implement all this stuff for $16,000 over 16 weeks. If they took
195:53 for $16,000 over 16 weeks. If they took the premium offer, they'd get a treasure
195:55 the premium offer, they'd get a treasure trove of money-making tactics. Tactics
195:57 trove of money-making tactics. Tactics that took me years to figure out. People
195:59 that took me years to figure out. People bought left and right. And whoosh, my
196:01 bought left and right. And whoosh, my decoy offer took me to $476,000 per
196:04 decoy offer took me to $476,000 per month in 3 months. Not a typo. But I had
196:07 month in 3 months. Not a typo. But I had a problem. Since I only had one thing to
196:09 a problem. Since I only had one thing to sell, I knew my revenue would plateau
196:11 sell, I knew my revenue would plateau fast. I needed an upsell to raise
196:12 fast. I needed an upsell to raise profits or gym launch would stagnate.
196:14 profits or gym launch would stagnate. So, I crafted an upsell offer for the
196:17 So, I crafted an upsell offer for the more advanced gym owners. I called it
196:18 more advanced gym owners. I called it gym lords and priced it at $42,000 per
196:21 gym lords and priced it at $42,000 per year. I used the classic upsell to offer
196:23 year. I used the classic upsell to offer advanced playbooks and services and a
196:26 advanced playbooks and services and a community to share best practices as a
196:27 community to share best practices as a continuity bonus. I started by offering
196:30 continuity bonus. I started by offering a hefty $6,000 discount for anyone who
196:32 a hefty $6,000 discount for anyone who prepaid. Many gym owners paid upfront
196:34 prepaid. Many gym owners paid upfront with the money that I had just made
196:36 with the money that I had just made them. For the ones who didn't, I offered
196:37 them. For the ones who didn't, I offered a payment plan downell. If they said no,
196:40 a payment plan downell. If they said no, I went with 10,000 down and spread the
196:41 I went with 10,000 down and spread the rest over time. If they said no again,
196:43 rest over time. If they said no again, I'd go for $800 a week spread over 52
196:46 I'd go for $800 a week spread over 52 weeks. If they said no again, I said
196:48 weeks. If they said no again, I said they could start for free. I'd use a
196:50 they could start for free. I'd use a continuity discount to frontload the
196:51 continuity discount to frontload the free time for as long as it took them to
196:53 free time for as long as it took them to finish off the first offer. Then they'd
196:54 finish off the first offer. Then they'd roll right into my continuity for the
196:56 roll right into my continuity for the upsell. This way, their payment stayed
196:58 upsell. This way, their payment stayed continuous. And zoom, the classic upsell
197:01 continuous. And zoom, the classic upsell plus continuity bonus plus payment plan
197:02 plus continuity bonus plus payment plan downell plus continuity discount took me
197:04 downell plus continuity discount took me to 1.5 million a month. I had another
197:06 to 1.5 million a month. I had another thing to sell. Woo! And it exploded gym
197:09 thing to sell. Woo! And it exploded gym lunch's money model to the next level.
197:11 lunch's money model to the next level. But I still had work to do. Even though
197:13 But I still had work to do. Even though the upsell downell process worked well,
197:15 the upsell downell process worked well, some gym owners kept saying no. So I
197:17 some gym owners kept saying no. So I went back to the drawing board. I came
197:19 went back to the drawing board. I came up with a more personalized menu upsell
197:21 up with a more personalized menu upsell with different levels of service.
197:22 with different levels of service. Offered done for you advertising, done
197:24 Offered done for you advertising, done for you sales training. I offered
197:26 for you sales training. I offered turnkey campaigns that made quick cash.
197:28 turnkey campaigns that made quick cash. And finally, I offered a minimum package
197:30 And finally, I offered a minimum package continuous access to the original gym
197:31 continuous access to the original gym launch materials with tech support for a
197:33 launch materials with tech support for a discounted monthly rate. If they didn't
197:35 discounted monthly rate. If they didn't want the whole package, I used feature
197:37 want the whole package, I used feature downells to find the best option for
197:39 downells to find the best option for them. Almost everyone stayed for
197:41 them. Almost everyone stayed for something. And wham, menu upselles plus
197:43 something. And wham, menu upselles plus fees or downselles took me to $2.3
197:45 fees or downselles took me to $2.3 million per month, all within 14 months.
197:49 million per month, all within 14 months. Then we started Prestige Labs and
197:51 Then we started Prestige Labs and integrated it with Gym Launch, a totally
197:53 integrated it with Gym Launch, a totally different business with its own money
197:54 different business with its own money model. By month 20, we were raking in
197:56 model. By month 20, we were raking in $4.4 million per month. It was
197:58 $4.4 million per month. It was life-changing, and it only took a few
198:01 life-changing, and it only took a few darn good products and a hundred million
198:02 darn good products and a hundred million dollar money model to do it. Author
198:05 dollar money model to do it. Author note, when I started, I didn't know any
198:07 note, when I started, I didn't know any of this money model stuff. It only looks
198:09 of this money model stuff. It only looks clean looking back. But I hope this
198:11 clean looking back. But I hope this simplifies things so you take much less
198:12 simplifies things so you take much less time than it took me. Description: A
198:15 time than it took me. Description: A money model is a deliberate sequence of
198:17 money model is a deliberate sequence of offers. It's what you offer, when you
198:19 offers. It's what you offer, when you offer, and how you offer it to make as
198:21 offer, and how you offer it to make as much money as you can as fast as you
198:22 much money as you can as fast as you can. Ideally, to make enough money from
198:25 can. Ideally, to make enough money from one customer to get in service at least
198:26 one customer to get in service at least two more customers in less than 30 days,
198:29 two more customers in less than 30 days, and it rarely looks clean, but I break
198:31 and it rarely looks clean, but I break $100 million money malls into three
198:33 $100 million money malls into three stages. Stage one, get cash. Attraction
198:36 stages. Stage one, get cash. Attraction offers get more customers for less.
198:38 offers get more customers for less. Stage two, get more cash. Upsell and
198:41 Stage two, get more cash. Upsell and downell offers make more money from them
198:43 downell offers make more money from them faster. Stage three, get the most cash.
198:46 faster. Stage three, get the most cash. Continuity offers maximize their total
198:48 Continuity offers maximize their total money spent. I break my $100 million
198:50 money spent. I break my $100 million money model down into these stages
198:51 money model down into these stages because money model growth happens
198:53 because money model growth happens alongside the growth of a business. In
198:55 alongside the growth of a business. In other words, if you try to start a
198:56 other words, if you try to start a bootstrap business from zero on your own
198:58 bootstrap business from zero on your own with a finished money model, it will
199:00 with a finished money model, it will collapse on top of you. In fact, none of
199:02 collapse on top of you. In fact, none of my businesses started with a fully
199:03 my businesses started with a fully forged money model. They all start at
199:06 forged money model. They all start at stage one. even acquisition.com. In my
199:09 stage one. even acquisition.com. In my experience, money models evolve like
199:11 experience, money models evolve like this. First, I get customers reliably.
199:13 this. First, I get customers reliably. Then, I make sure they pay for
199:14 Then, I make sure they pay for themselves reliably. Then, I make sure
199:17 themselves reliably. Then, I make sure they pay for other customers reliably.
199:19 they pay for other customers reliably. Then, I start maximizing each customer's
199:21 Then, I start maximizing each customer's long-term value. Then, I spend as many
199:23 long-term value. Then, I spend as many advertising dollars as I can to print as
199:25 advertising dollars as I can to print as much money as possible. My money model
199:27 much money as possible. My money model is developed this way because I make
199:29 is developed this way because I make sure each stage pays for the next. We
199:31 sure each stage pays for the next. We keep improving each stage until it gets
199:32 keep improving each stage until it gets reliable. Also, this means financial and
199:35 reliable. Also, this means financial and operational reliability. So, fair
199:36 operational reliability. So, fair warning, when your money model starts
199:38 warning, when your money model starts working, your business starts breaking.
199:40 working, your business starts breaking. Part of the game. So, I suggest you find
199:42 Part of the game. So, I suggest you find someone who can build and lead the team
199:44 someone who can build and lead the team to make your vision a reality. When I
199:46 to make your vision a reality. When I did, I married her. I hope the same luck
199:47 did, I married her. I hope the same luck finds you. Author note, I want to make
199:50 finds you. Author note, I want to make myself abundantly clear. Lots of $100
199:52 myself abundantly clear. Lots of $100 million money models exist. Dare I say,
199:54 million money models exist. Dare I say, $100 million money model exists for
199:56 $100 million money model exists for every $und00 million business. Remember,
199:58 every $und00 million business. Remember, plenty of businesses make gobs of money
199:59 plenty of businesses make gobs of money in plenty of ways. I just show the ways
200:01 in plenty of ways. I just show the ways that I've actually done it. Example,
200:04 that I've actually done it. Example, money models. Gym launch money model
200:06 money models. Gym launch money model breakdown services. Stage one,
200:08 breakdown services. Stage one, attraction offer, decoy offer, free
200:10 attraction offer, decoy offer, free do-it-yourself versus premium 16K done
200:14 do-it-yourself versus premium 16K done with you licensing. Stage two, upsell
200:17 with you licensing. Stage two, upsell offer, classic upsell. Once you know how
200:20 offer, classic upsell. Once you know how to get them, you got to know how to keep
200:22 to get them, you got to know how to keep them. $42,000 per year, 36k prepaid for
200:25 them. $42,000 per year, 36k prepaid for advanced business services. Stage two
200:28 advanced business services. Stage two continued downell offer, payment plan
200:30 continued downell offer, payment plan downell. Seesaw downell start at 10K
200:32 downell. Seesaw downell start at 10K with the rest spread over 52 weeks.
200:34 with the rest spread over 52 weeks. Final payment plan offer 800 per week
200:36 Final payment plan offer 800 per week for 52 weeks. Stage three continuity
200:39 for 52 weeks. Stage three continuity offer menu close plus feature downell
200:42 offer menu close plus feature downell full package 800 per week. Feature done
200:45 full package 800 per week. Feature done for you advertising $300 a week. Feature
200:47 for you advertising $300 a week. Feature gym sales daily training $200 per week.
200:50 gym sales daily training $200 per week. Feature monthly new releases 500 per
200:52 Feature monthly new releases 500 per week. Feature original licensed
200:54 week. Feature original licensed materials with tech support 100 per
200:55 materials with tech support 100 per week. Minimum package 100 per week.
200:58 week. Minimum package 100 per week. Micro Jim's money model breakdown. Local
201:00 Micro Jim's money model breakdown. Local business. Stage one attraction offer.
201:02 business. Stage one attraction offer. Win your money back. Pay to enter
201:04 Win your money back. Pay to enter fitness challenge. Win money back if you
201:06 fitness challenge. Win money back if you meet goals. Stage one downell offer.
201:08 meet goals. Stage one downell offer. Payment plan downell. Split pay. Three
201:10 Payment plan downell. Split pay. Three pay. Free trial with penalty. Stage two
201:13 pay. Free trial with penalty. Stage two upsell offer. Menu upsell. You're not
201:15 upsell offer. Menu upsell. You're not going to get the best results without
201:16 going to get the best results without the right supplements. Supplement
201:18 the right supplements. Supplement bundles. Big bundle personalized to
201:20 bundles. Big bundle personalized to goal. Stage two downell offer. Feature
201:23 goal. Stage two downell offer. Feature downell. Supplements. Big bundle. Small
201:25 downell. Supplements. Big bundle. Small bundle. monthly subscription. Stage
201:28 bundle. monthly subscription. Stage three, continuity offer rollover upsell
201:30 three, continuity offer rollover upsell plus lifetime discount $50 off per month
201:33 plus lifetime discount $50 off per month with a 12-month commitment. Newsletter
201:36 with a 12-month commitment. Newsletter digital product stage one attraction
201:38 digital product stage one attraction offer free trial $0 then $3.99 a month
201:41 offer free trial $0 then $3.99 a month after 30 days. Stage two and three
201:43 after 30 days. Stage two and three upsell and continuity. Pay less now, pay
201:46 upsell and continuity. Pay less now, pay more later, plus lifetime discount. Pay
201:48 more later, plus lifetime discount. Pay $2.97 now and keep that rate for life.
201:51 $2.97 now and keep that rate for life. Author note, I love this offer. It's
201:54 Author note, I love this offer. It's nasty. It combines free trial, pay less
201:56 nasty. It combines free trial, pay less now, pay more later, lifetime discount,
201:58 now, pay more later, lifetime discount, and is an attraction offer, an upsell
202:00 and is an attraction offer, an upsell offer, and a continuity offer. A
202:02 offer, and a continuity offer. A six-headed money-making monster. This is
202:05 six-headed money-making monster. This is just a taste of how creative you can get
202:06 just a taste of how creative you can get by combining these. And finally, example
202:10 by combining these. And finally, example four, dog food, physical product. Stage
202:12 four, dog food, physical product. Stage one, attraction offer. Buy X, get Y
202:14 one, attraction offer. Buy X, get Y free. Buy four months of food, get two
202:16 free. Buy four months of food, get two months free. Stage two, upsell offer.
202:18 months free. Stage two, upsell offer. The classic upsell, just like the Ron
202:20 The classic upsell, just like the Ron Car story. Do you want monthly? Do you
202:22 Car story. Do you want monthly? Do you want dog toys? How about dog vitamins?
202:25 want dog toys? How about dog vitamins? Stage three downell offer. Feature
202:26 Stage three downell offer. Feature downell. Just the premium food. Then you
202:28 downell. Just the premium food. Then you don't want anything else, do you? Stage
202:31 don't want anything else, do you? Stage three, continuity offer. Automatic
202:33 three, continuity offer. Automatic renewal after the first bulk purchase.
202:35 renewal after the first bulk purchase. After 6 months, it continues to monthto
202:37 After 6 months, it continues to monthto month. Cancel anytime. Bingo, bango.
202:40 month. Cancel anytime. Bingo, bango. Make your own money model.
202:42 Make your own money model. Step one, start with an attraction
202:44 Step one, start with an attraction offer. The goal is to turn strangers
202:46 offer. The goal is to turn strangers into customers and cover our costs. So
202:48 into customers and cover our costs. So figure out what you're going to sell,
202:50 figure out what you're going to sell, then figure out the best way to present
202:51 then figure out the best way to present it. The attraction offer has my top
202:53 it. The attraction offer has my top favorites. Want your money back?
202:55 favorites. Want your money back? Giveaways, decoy offers, buy XKY free,
202:57 Giveaways, decoy offers, buy XKY free, pay less now or pay more later. Then
202:59 pay less now or pay more later. Then advertise it. If you get leads who turn
203:01 advertise it. If you get leads who turn into customers, you're on your way.
203:03 into customers, you're on your way. Figuring out what works best may take up
203:05 Figuring out what works best may take up to a year. If you want to learn more
203:06 to a year. If you want to learn more about advertising, make sure to check
203:08 about advertising, make sure to check out my second book, $100 million leads.
203:11 out my second book, $100 million leads. Step two, pick an upsell offer. The goal
203:13 Step two, pick an upsell offer. The goal is to get 30-day profits well above our
203:15 is to get 30-day profits well above our cost of getting a customer and
203:17 cost of getting a customer and delivering what you offer them.
203:18 delivering what you offer them. Remember, once you solve a problem,
203:20 Remember, once you solve a problem, another appears. Those problems also
203:21 another appears. Those problems also need solutions. You solve the problems
203:23 need solutions. You solve the problems your attraction offer creates with
203:24 your attraction offer creates with upsell offers. So, pick the upsell offer
203:27 upsell offers. So, pick the upsell offer that best matches the problem you solve
203:28 that best matches the problem you solve and how you solve it. The upsell offer
203:31 and how you solve it. The upsell offer section gives you my four favorites. The
203:32 section gives you my four favorites. The classic upsell, menu upsell, anchor
203:34 classic upsell, menu upsell, anchor upsell, rollover upsell. Then you make
203:36 upsell, rollover upsell. Then you make your offer at their time of greatest
203:38 your offer at their time of greatest need. And remember, make your offer at
203:40 need. And remember, make your offer at their time of greatest need. Step three,
203:43 their time of greatest need. Step three, pick a downell offer. The goal is to get
203:46 pick a downell offer. The goal is to get customers who said no to your last offer
203:47 customers who said no to your last offer to say yes to another offer. This way,
203:50 to say yes to another offer. This way, you sell way more people than you
203:51 you sell way more people than you otherwise would, so you make more total
203:53 otherwise would, so you make more total cash from the same number of leads. The
203:55 cash from the same number of leads. The downell offer section shows you my three
203:57 downell offer section shows you my three favorites. If you want to keep your
203:58 favorites. If you want to keep your price the same, change how they pay with
204:00 price the same, change how they pay with payment plan downells or trials. If you
204:02 payment plan downells or trials. If you want to charge less, change what they
204:04 want to charge less, change what they get with feature downells. And best of
204:06 get with feature downells. And best of all, you can alternate between them in
204:08 all, you can alternate between them in the same sale. The more flexible you
204:09 the same sale. The more flexible you make your offers, the more people will
204:11 make your offers, the more people will buy them.
204:12 buy them. Step four, pick a continuity offer. The
204:15 Step four, pick a continuity offer. The goal here is to get one last sale in our
204:17 goal here is to get one last sale in our 30-day window and stack recurring cash.
204:19 30-day window and stack recurring cash. So, I try to include continuity in every
204:22 So, I try to include continuity in every business eventually. My three favorites
204:24 business eventually. My three favorites are continuity bonuses, continuity
204:27 are continuity bonuses, continuity discounts, and wave fee offers.
204:29 discounts, and wave fee offers. Sometimes the best timing for continuity
204:30 Sometimes the best timing for continuity offers happens after the first 30 days,
204:32 offers happens after the first 30 days, and that's okay. It's better to make the
204:34 and that's okay. It's better to make the offer at the right time than to try and
204:36 offer at the right time than to try and force it at the wrong time. Author note
204:38 force it at the wrong time. Author note for bootstrap businesses, you have to
204:41 for bootstrap businesses, you have to get customers at a profit. Unless you
204:43 get customers at a profit. Unless you get outside investors, start with a
204:45 get outside investors, start with a fortune, or have an endless source of
204:46 fortune, or have an endless source of free customers, achieving a money model
204:48 free customers, achieving a money model is the only way you can profitably
204:50 is the only way you can profitably scale. Otherwise, you run out of cash
204:52 scale. Otherwise, you run out of cash and go out of business before you even
204:54 and go out of business before you even have a shot. Important notes: perfect
204:56 have a shot. Important notes: perfect one offer at a time. It's tempting to
204:58 one offer at a time. It's tempting to implement a whole money model at once.
205:00 implement a whole money model at once. Don't stick to your stage. Pick one
205:02 Don't stick to your stage. Pick one offer, try it, keep doing it until it
205:04 offer, try it, keep doing it until it works reliably, then after it's
205:05 works reliably, then after it's reliable, do it so many times it gets
205:07 reliable, do it so many times it gets automatic, then go to the next stage.
205:10 automatic, then go to the next stage. Patience is still the fastest way to get
205:11 Patience is still the fastest way to get to your goal. So, you'll need to measure
205:14 to your goal. So, you'll need to measure in quarters, not weeks. You either build
205:16 in quarters, not weeks. You either build it right or you build it again and again
205:18 it right or you build it again and again and again. Building again, no matter how
205:20 and again. Building again, no matter how fast, still takes longer than building
205:21 fast, still takes longer than building it right the first time. I know that one
205:23 it right the first time. I know that one from experience.
205:26 from experience. Raise prices in stages. Make new offers
205:28 Raise prices in stages. Make new offers cheap at first. Then, as you get yeses,
205:30 cheap at first. Then, as you get yeses, raise the price. Lots of early yeses get
205:33 raise the price. Lots of early yeses get customer feedback and make the product
205:34 customer feedback and make the product better. Then, as the offer gets
205:36 better. Then, as the offer gets reliable, start raising the price and
205:37 reliable, start raising the price and keep raising the price until the extra
205:39 keep raising the price until the extra cash from the S's doesn't make up for
205:40 cash from the S's doesn't make up for the nose. Simple scales, fancy fails.
205:43 the nose. Simple scales, fancy fails. Get as much as you can out of what you
205:45 Get as much as you can out of what you have. Remember, it's less about having
205:47 have. Remember, it's less about having 100 products to offer and more about
205:48 100 products to offer and more about having a 100 ways to offer your product.
205:51 having a 100 ways to offer your product. Think more ways to sell the same thing,
205:53 Think more ways to sell the same thing, not more things to sell. If I offer
205:55 not more things to sell. If I offer personal training, I can offer one, two,
205:57 personal training, I can offer one, two, three, four sessions per week. This
205:59 three, four sessions per week. This turns one product into many offers.
206:02 turns one product into many offers. Important
206:03 Important affiliate products can fill money model
206:05 affiliate products can fill money model gaps. An affiliate relationship just
206:07 gaps. An affiliate relationship just means you sell other people's stuff for
206:08 means you sell other people's stuff for a commission. If you don't have anything
206:10 a commission. If you don't have anything to offer and want to start a business,
206:12 to offer and want to start a business, you can offer somebody else's stuff. If
206:13 you can offer somebody else's stuff. If you have a single offer and want to add
206:15 you have a single offer and want to add more offers to your money model, you can
206:17 more offers to your money model, you can also offer somebody else's stuff. If you
206:18 also offer somebody else's stuff. If you have a $100 million business and want to
206:20 have a $100 million business and want to make more money without adding
206:22 make more money without adding operational headache, you can offer
206:23 operational headache, you can offer somebody else's stuff, too. In short,
206:25 somebody else's stuff, too. In short, you can always offer somebody else's
206:27 you can always offer somebody else's stuff in your money model. Here's a few
206:28 stuff in your money model. Here's a few examples.
206:30 examples. service. A dental agency sends their
206:32 service. A dental agency sends their dentist clients to a braces
206:33 dentist clients to a braces manufacturer. The manufacturer sends
206:35 manufacturer. The manufacturer sends them a commission for each dentist they
206:37 them a commission for each dentist they send. More money, no extra work. Voila.
206:40 send. More money, no extra work. Voila. Local business. Massage therapist sells
206:43 Local business. Massage therapist sells clients somebody else's home massage
206:45 clients somebody else's home massage tools, exercise bands, medicine balls,
206:46 tools, exercise bands, medicine balls, etc. The customer pays through the
206:48 etc. The customer pays through the therapist and the other company ships it
206:50 therapist and the other company ships it directly to them. A few extra words, a
206:53 directly to them. A few extra words, a lot extra money. No extra service
206:55 lot extra money. No extra service delivered. Digital product. An educator
206:58 delivered. Digital product. An educator tells his clients to use a specific
207:00 tells his clients to use a specific customer service software. The software
207:01 customer service software. The software company sends the consultant a
207:03 company sends the consultant a commission for every signup.
207:06 commission for every signup. Turn attraction offers into continuity
207:07 Turn attraction offers into continuity offers with automatic renewal. This
207:10 offers with automatic renewal. This makes a two for one. For example, if you
207:12 makes a two for one. For example, if you do a buy 6 months, get 6 months free
207:15 do a buy 6 months, get 6 months free offer, they can automatically roll into
207:17 offer, they can automatically roll into a month-to-month subscription at the end
207:18 a month-to-month subscription at the end of 12 months. This gets the benefit of
207:20 of 12 months. This gets the benefit of attraction and continuity offers both. A
207:23 attraction and continuity offers both. A small tip with big implications. You can
207:26 small tip with big implications. You can mix and match offers however you want. I
207:28 mix and match offers however you want. I present offers this way because it's how
207:29 present offers this way because it's how I use them. But if you recall, I learned
207:32 I use them. But if you recall, I learned many of them from people use them
207:33 many of them from people use them differently than me. Many of these
207:34 differently than me. Many of these offers you can use anywhere. You can use
207:36 offers you can use anywhere. You can use upsell tactics in your attraction offer.
207:38 upsell tactics in your attraction offer. You can install a downell process with
207:40 You can install a downell process with every offer. You can use a continuity
207:42 every offer. You can use a continuity offer to attract new customers. There
207:43 offer to attract new customers. There are no rules. You can do whatever you
207:45 are no rules. You can do whatever you want. I show you stuff one way, but I
207:47 want. I show you stuff one way, but I fully expect you to use it in another.
207:49 fully expect you to use it in another. So, start with the way I suggest it.
207:51 So, start with the way I suggest it. Then, as you get better, experiment.
207:52 Then, as you get better, experiment. It's how I learn the stuff. It's how
207:54 It's how I learn the stuff. It's how you'll learn it, too. Summary. A money
207:57 you'll learn it, too. Summary. A money model is a deliberate sequence of
207:58 model is a deliberate sequence of offers. Money models have three stages.
208:01 offers. Money models have three stages. Get cash, attraction offers, get more
208:03 Get cash, attraction offers, get more cash, upsells and downells, get the most
208:04 cash, upsells and downells, get the most cash, continuity offers. To make your
208:07 cash, continuity offers. To make your own money model, start an attraction
208:08 own money model, start an attraction offer. Once it gets you customers in
208:10 offer. Once it gets you customers in cash, add an upsell offer. From there,
208:12 cash, add an upsell offer. From there, add downell offers to get even more
208:14 add downell offers to get even more people to buy. Then, finally, add your
208:15 people to buy. Then, finally, add your continuity offer. Do not try and
208:17 continuity offer. Do not try and implement a full money model at once. It
208:19 implement a full money model at once. It will break your business. It's less
208:20 will break your business. It's less about having 100 products to offer and
208:22 about having 100 products to offer and more about having 100 ways to offer your
208:24 more about having 100 ways to offer your product. To sell more stuff without
208:26 product. To sell more stuff without starting 100 businesses, offer stuff
208:27 starting 100 businesses, offer stuff from other businesses and let them
208:29 from other businesses and let them deliver it. Affiliate relationships can
208:31 deliver it. Affiliate relationships can fill the gap in your money model without
208:33 fill the gap in your money model without the headache of delivery. Price new
208:35 the headache of delivery. Price new offers low enough that you will get lots
208:37 offers low enough that you will get lots of yeses. Use customer feedback to
208:39 of yeses. Use customer feedback to improve your product. Then start raising
208:40 improve your product. Then start raising the price until you stop making more
208:42 the price until you stop making more money. A $100 million money model
208:44 money. A $100 million money model eliminates cash as a bottleneck for
208:46 eliminates cash as a bottleneck for growth. Mission accomplished. Free gift.
208:49 growth. Mission accomplished. Free gift. Make your own money model step-by-step
208:51 Make your own money model step-by-step training. Woo, there is a lot in this
208:53 training. Woo, there is a lot in this chapter. It's also arguably the most
208:54 chapter. It's also arguably the most important one in the book. So, to make
208:56 important one in the book. So, to make sure you don't get stuck, I made you a
208:57 sure you don't get stuck, I made you a video walking through this process step
208:59 video walking through this process step by step. As usual, you can watch it for
209:00 by step. As usual, you can watch it for free. No optin needed at
209:02 free. No optin needed at acquisition.com/training/money.
209:07 10 years and 10 minutes. The best thing a human can do is help another human
209:08 a human can do is help another human being no more. Charlie Mer
209:12 being no more. Charlie Mer where money model fits in the grand
209:13 where money model fits in the grand scheme of things. My first book, $100
209:16 scheme of things. My first book, $100 million offers, answered the question,
209:18 million offers, answered the question, what should I sell? Answer: An offer so
209:20 what should I sell? Answer: An offer so good people feel stupid saying no. My
209:22 good people feel stupid saying no. My second book, $100 million leads,
209:24 second book, $100 million leads, answered the next natural question, how
209:25 answered the next natural question, how do I find these people? Answer: You
209:27 do I find these people? Answer: You advertise. This book, $100 million Money
209:29 advertise. This book, $100 million Money Models, answers the next natural
209:31 Models, answers the next natural question, how do I get them to buy it?
209:33 question, how do I get them to buy it? Answer, a money model. What we covered.
209:36 Answer, a money model. What we covered. We covered a lot, and I think organizing
209:38 We covered a lot, and I think organizing what we learned into one place helps it
209:40 what we learned into one place helps it sink in. So, I make this the back of
209:42 sink in. So, I make this the back of napkin list of what we covered and why.
209:45 napkin list of what we covered and why. Number one, a money bottle is a series
209:47 Number one, a money bottle is a series of offers designed to increase how many
209:49 of offers designed to increase how many customers you get, how much they pay,
209:50 customers you get, how much they pay, and how fast they pay it. Two, a good
209:53 and how fast they pay it. Two, a good money model makes more profit from a
209:54 money model makes more profit from a customer than it costs to get and
209:56 customer than it costs to get and service them in the first 30 days.
209:57 service them in the first 30 days. That's the bare minimum. Three, a $100
210:00 That's the bare minimum. Three, a $100 million money model makes more profit
210:01 million money model makes more profit from one customer than it costs to get
210:03 from one customer than it costs to get and service many customers in the first
210:04 and service many customers in the first 30 days, which removes cash as a limiter
210:06 30 days, which removes cash as a limiter to scaling your business. Four, money
210:09 to scaling your business. Four, money models have four types of offers.
210:11 models have four types of offers. Attraction offers, upsell offers,
210:12 Attraction offers, upsell offers, downell offers, and continuity offers.
210:14 downell offers, and continuity offers. Five, attraction offers get customers by
210:16 Five, attraction offers get customers by offering something free or at a
210:18 offering something free or at a discount. Often, they also make money by
210:20 discount. Often, they also make money by offering a better deal at a higher
210:21 offering a better deal at a higher price. We covered five. A, win your
210:24 price. We covered five. A, win your money back. You set a goal for the
210:26 money back. You set a goal for the customer and tell them how to reach it.
210:28 customer and tell them how to reach it. If they reach it, then they qualify to
210:30 If they reach it, then they qualify to get their money back or get it back as
210:31 get their money back or get it back as store credit. B, giveaways. You
210:34 store credit. B, giveaways. You advertise a chance to win a big prize in
210:36 advertise a chance to win a big prize in exchange for contact information and
210:37 exchange for contact information and anything else you want. After picking a
210:39 anything else you want. After picking a winner, you offer everyone else the big
210:41 winner, you offer everyone else the big prize at a discounted price. C. Decoy
210:44 prize at a discounted price. C. Decoy offers. You advertise a free or
210:46 offers. You advertise a free or discounted offer. When the lead asks to
210:48 discounted offer. When the lead asks to learn more, you also present a more
210:49 learn more, you also present a more valuable premium offer. The premium
210:51 valuable premium offer. The premium offer includes more features, benefits,
210:52 offer includes more features, benefits, bonuses, guarantees, and so on. D. Buy
210:55 bonuses, guarantees, and so on. D. Buy X, get Y free. You offer customers free
210:58 X, get Y free. You offer customers free stuff in exchange for buying other stuff
210:59 stuff in exchange for buying other stuff for money. The more free stuff, and the
211:01 for money. The more free stuff, and the higher its value, the more people buy.
211:03 higher its value, the more people buy. E. Pay less now or pay more later. You
211:06 E. Pay less now or pay more later. You give people a choice to pay full price
211:08 give people a choice to pay full price later or pay a discounted price now and
211:10 later or pay a discounted price now and get additional bonuses.
211:13 get additional bonuses. Upsell offers are whatever you offer
211:15 Upsell offers are whatever you offer next. Typically more, better, or newer
211:18 next. Typically more, better, or newer versions of what they just bought. These
211:20 versions of what they just bought. These get you more cash fast. We covered four.
211:22 get you more cash fast. We covered four. A, the classic upsell. You offer a
211:25 A, the classic upsell. You offer a solution to the customer's next problem
211:26 solution to the customer's next problem the moment they become aware of it. You
211:28 the moment they become aware of it. You can't have X without Y. B, menu upsells.
211:31 can't have X without Y. B, menu upsells. You tell customers which options they
211:33 You tell customers which options they don't need, then tell them which they do
211:35 don't need, then tell them which they do and how to get their value from it. You
211:37 and how to get their value from it. You don't need that. You need this. C.
211:39 don't need that. You need this. C. Anchor upsells. You offer your most
211:41 Anchor upsells. You offer your most expensive thing first. If the customer
211:42 expensive thing first. If the customer bulks, you offer a much cheaper and
211:44 bulks, you offer a much cheaper and still acceptable alternative. No
211:46 still acceptable alternative. No worries. If you don't care about X, this
211:47 worries. If you don't care about X, this may be a better fit for you. D. Rollover
211:50 may be a better fit for you. D. Rollover upsells. You credit some or all of the
211:52 upsells. You credit some or all of the customer's previous purchases towards
211:53 customer's previous purchases towards your next offer. Since you already spent
211:55 your next offer. Since you already spent $500, I'll just credit that towards
211:56 $500, I'll just credit that towards staying for a full year.
211:59 staying for a full year. Seven. Downell offers are whatever you
212:02 Seven. Downell offers are whatever you offer after someone says no. And by
212:04 offer after someone says no. And by turning nos into yeses, you make more
212:05 turning nos into yeses, you make more money. We covered three. A payment plan
212:09 money. We covered three. A payment plan downells. You offer the same product at
212:11 downells. You offer the same product at the same price, but they pay some now
212:12 the same price, but they pay some now and the rest over time. When do you get
212:15 and the rest over time. When do you get paid? Let's do half now and half then.
212:18 paid? Let's do half now and half then. B. Trial with penalty. You let customers
212:21 B. Trial with penalty. You let customers try your product or service for free so
212:22 try your product or service for free so long as they meet your terms. If they
212:24 long as they meet your terms. If they do, they have a better chance of
212:25 do, they have a better chance of becoming paying customers. If they
212:27 becoming paying customers. If they don't, they pay. If you do X, Y, and Z,
212:29 don't, they pay. If you do X, Y, and Z, I'll let you start for free. C. Feed
212:32 I'll let you start for free. C. Feed your downells. You lower prices by
212:34 your downells. You lower prices by changing what the customer gets. I offer
212:36 changing what the customer gets. I offer lower quantity, lower quality, lower
212:38 lower quantity, lower quality, lower price alternatives, or cut optional
212:40 price alternatives, or cut optional components entirely. If you're okay
212:41 components entirely. If you're okay without a guarantee, I can knock off 400
212:43 without a guarantee, I can knock off 400 bucks. Eight, continuity offers. Provide
212:46 bucks. Eight, continuity offers. Provide ongoing value that customers make
212:48 ongoing value that customers make ongoing payments for until they cancel.
212:50 ongoing payments for until they cancel. These boost the profit of every customer
212:51 These boost the profit of every customer and give you one last thing to sell. We
212:53 and give you one last thing to sell. We covered three. A, continuity bonus
212:55 covered three. A, continuity bonus offers. You give the customer an awesome
212:57 offers. You give the customer an awesome thing if they sign up today. Typically,
212:59 thing if they sign up today. Typically, the bonus itself has more value than the
213:01 the bonus itself has more value than the first continuity payment. If you sign up
213:03 first continuity payment. If you sign up today, you also get XYZ valuable thing.
213:06 today, you also get XYZ valuable thing. B. Continuity discount offers. You give
213:08 B. Continuity discount offers. You give the customer free time now or later if
213:10 the customer free time now or later if they sign up today. C. Waved fee offers.
213:14 they sign up today. C. Waved fee offers. First, you ask the customer to pay a
213:15 First, you ask the customer to pay a starter fee as part of joining a
213:16 starter fee as part of joining a month-to-month program. Then, you offer
213:18 month-to-month program. Then, you offer to discount the entire fee if they
213:20 to discount the entire fee if they commit to longer term. If they cancel
213:22 commit to longer term. If they cancel inside the term, they pay the fee. Nine,
213:25 inside the term, they pay the fee. Nine, you build money models one stage at a
213:27 you build money models one stage at a time. Once I get customers reliably,
213:30 time. Once I get customers reliably, then I make sure they pay for themselves
213:31 then I make sure they pay for themselves reliably. Then I make sure they pay for
213:33 reliably. Then I make sure they pay for other customers reliably. Then I start
213:35 other customers reliably. Then I start maximizing each customer's long-term
213:36 maximizing each customer's long-term value. Then I print as much money as I
213:38 value. Then I print as much money as I can. Bottom line, the knowledge in these
213:41 can. Bottom line, the knowledge in these bullets brought me more free and
213:43 bullets brought me more free and profitable customers than I've known
213:44 profitable customers than I've known what to do with. If executed, they will
213:47 what to do with. If executed, they will do the same for you. And with that, cash
213:49 do the same for you. And with that, cash will no longer constrain your business.
213:51 will no longer constrain your business. I hope this book helps you grow your
213:52 I hope this book helps you grow your dream as big as you darn well please.
213:54 dream as big as you darn well please. Also, since you are one of the few who
213:56 Also, since you are one of the few who actually finish what you start, I want
213:57 actually finish what you start, I want to leave you with a parting gift, some
213:59 to leave you with a parting gift, some closing remarks that got me through hard
214:00 closing remarks that got me through hard times.
214:02 times. Final thoughts. You don't become
214:04 Final thoughts. You don't become confident by shouting affirmations in
214:05 confident by shouting affirmations in the mirror. You become confident by
214:07 the mirror. You become confident by giving yourself a stack of undeniable
214:08 giving yourself a stack of undeniable proof that you are who you say you are.
214:10 proof that you are who you say you are. Outwork your self-doubt.
214:13 Outwork your self-doubt. This was an actual post I made on July
214:15 This was an actual post I made on July 25th, 2020 before I made my life public.
214:18 25th, 2020 before I made my life public. The image contrasts where I used to
214:20 The image contrasts where I used to sleep on the floor 7 years earlier with
214:22 sleep on the floor 7 years earlier with me on a private jet. Ila snapped this
214:25 me on a private jet. Ila snapped this when I wasn't looking and I was like,
214:26 when I wasn't looking and I was like, "Damn, I look super pensive." Anyways,
214:29 "Damn, I look super pensive." Anyways, this is the second time we've taken a
214:31 this is the second time we've taken a private jet. And it was dope. They
214:33 private jet. And it was dope. They figure if you go down with the ship,
214:34 figure if you go down with the ship, your seatelt won't save you regardless.
214:37 your seatelt won't save you regardless. To every hard mother ever who is
214:39 To every hard mother ever who is disappointing their parents, wives,
214:41 disappointing their parents, wives, husband, fake friends, and everyone else
214:42 husband, fake friends, and everyone else who doubts you, number one, I'm your
214:45 who doubts you, number one, I'm your biggest fan. Number two, it's about to
214:48 biggest fan. Number two, it's about to get real, so get hard fast. Number
214:50 get real, so get hard fast. Number three, you cannot lose if you do not
214:52 three, you cannot lose if you do not quit. I used to repeat that to myself
214:55 quit. I used to repeat that to myself over and over again when I didn't want
214:56 over and over again when I didn't want to keep doing it. If you feel hopeless,
214:58 to keep doing it. If you feel hopeless, welcome to entrepreneurship. If you feel
215:00 welcome to entrepreneurship. If you feel like you'll never make it, you're on the
215:02 like you'll never make it, you're on the right path. If you feel like you're a
215:03 right path. If you feel like you're a disappointment to everyone who you know,
215:05 disappointment to everyone who you know, keep moving because the end of the
215:08 keep moving because the end of the rainbow isn't a pot of gold. It's you.
215:10 rainbow isn't a pot of gold. It's you. The real you that's been underneath all
215:12 The real you that's been underneath all along whispering in your ear, "Just one
215:14 along whispering in your ear, "Just one more step, one more call, one more
215:15 more step, one more call, one more sale." When I say I'm your biggest fan,
215:17 sale." When I say I'm your biggest fan, it's because I was there. And I know you
215:19 it's because I was there. And I know you because I know exactly what it feels
215:21 because I know exactly what it feels like. Having both 100% confidence and a
215:23 like. Having both 100% confidence and a th000% doubt at the same time. Here's
215:26 th000% doubt at the same time. Here's all you got to do. Just keep moving,
215:28 all you got to do. Just keep moving, keep fighting, keep improving. Your time
215:31 keep fighting, keep improving. Your time will come. Success is the only revenge.
215:33 will come. Success is the only revenge. So right now you might be back where I
215:35 So right now you might be back where I was when I started working in a concrete
215:37 was when I started working in a concrete coffin under blinding fluorescent lights
215:39 coffin under blinding fluorescent lights wanting to escape. You might be
215:41 wanting to escape. You might be overwhelmed by all the stuff you have to
215:42 overwhelmed by all the stuff you have to do to succeed. But with that
215:44 do to succeed. But with that uncertainty, know that every
215:45 uncertainty, know that every entrepreneur past and present shoulders
215:46 entrepreneur past and present shoulders that burden with you. I've been there.
215:49 that burden with you. I've been there. They've been there. You're not alone. I
215:51 They've been there. You're not alone. I share these stories as I experienced
215:52 share these stories as I experienced them so you can benefit from them as I
215:54 them so you can benefit from them as I have. So here's my promise. Follow the
215:57 have. So here's my promise. Follow the lessons. The money will come. Be one of
215:59 lessons. The money will come. Be one of zero. Alex Ramosi,
216:01 zero. Alex Ramosi, founderacquisition.com.
216:03 founderacquisition.com. P.S. I've got some free goodies for you
216:05 P.S. I've got some free goodies for you for finishing what you started. Free
216:06 for finishing what you started. Free goodies. Nom nom nom. Kind of like the
216:09 goodies. Nom nom nom. Kind of like the previews after the credits finish. If
216:11 previews after the credits finish. If you're still with me, I want to give you
216:12 you're still with me, I want to give you a bunch of goodies. Number one, if
216:14 a bunch of goodies. Number one, if you're struggling to figure out who to
216:15 you're struggling to figure out who to sell to, I released a chapter called
216:17 sell to, I released a chapter called Your First Avatar. You can get it for
216:18 Your First Avatar. You can get it for free at acquisition.com/avvatar.
216:20 free at acquisition.com/avvatar. Just pop in your email and we'll send it
216:22 Just pop in your email and we'll send it over. Two, if you're struggling to
216:24 over. Two, if you're struggling to figure out what to sell, you can go to
216:26 figure out what to sell, you can go to Amazon or wherever you buy books and
216:27 Amazon or wherever you buy books and search Alexi and $100 million offers. It
216:29 search Alexi and $100 million offers. It should get you on the right path. Three,
216:31 should get you on the right path. Three, if you're struggling to get people
216:33 if you're struggling to get people interested in what you sell, you can go
216:34 interested in what you sell, you can go to Amazon or wherever you buy books and
216:36 to Amazon or wherever you buy books and search Alexi and get $100 million leads.
216:38 search Alexi and get $100 million leads. It should also put you on the right
216:39 It should also put you on the right path. Four, if your company's doing over
216:41 path. Four, if your company's doing over a million in Ibida, aka profit. We'd
216:43 a million in Ibida, aka profit. We'd love to help you scale. It brings us so
216:45 love to help you scale. It brings us so much pleasure to know companies have
216:46 much pleasure to know companies have grown much and bigger and faster than
216:48 grown much and bigger and faster than mine because they avoided many of the
216:49 mine because they avoided many of the mistakes that I did. If you want us to
216:51 mistakes that I did. If you want us to look under the hood and see if we can
216:53 look under the hood and see if we can help you, go to acquisition.com.
216:55 help you, go to acquisition.com. Number five, if you want a job at
216:57 Number five, if you want a job at acquisition.com or in one of our
216:58 acquisition.com or in one of our portfolio companies, we love hiring from
217:00 portfolio companies, we love hiring from Mosnation. Our best returns come from
217:02 Mosnation. Our best returns come from investing in great people, go to
217:04 investing in great people, go to acquisition.com/careers/openjob
217:06 acquisition.com/careers/openjob and you can see all available openings.
217:09 and you can see all available openings. Six, to get the free book downloads and
217:11 Six, to get the free book downloads and video trainings that come with this
217:12 video trainings that come with this book, go to
217:13 book, go to acquisition.com/training/money.
217:16 acquisition.com/training/money. Seven, if you like listening to podcasts
217:18 Seven, if you like listening to podcasts and want to hear more, my podcast at the
217:20 and want to hear more, my podcast at the time of this writing is top five in
217:21 time of this writing is top five in entrepreneurship and top 15 in business
217:23 entrepreneurship and top 15 in business in the US. You can get there by
217:25 in the US. You can get there by searching Alexi wherever you listen or
217:26 searching Alexi wherever you listen or by going to acquisition.com/mpodcast.
217:29 by going to acquisition.com/mpodcast. I share useful and interesting stories,
217:30 I share useful and interesting stories, valuable lessons, and the essential
217:31 valuable lessons, and the essential mental models I rely on every day to
217:33 mental models I rely on every day to make more money. Number eight, if you
217:36 make more money. Number eight, if you like to watch videos, we put a lot of
217:37 like to watch videos, we put a lot of resources into our free training
217:39 resources into our free training available for everyone. We intend on
217:41 available for everyone. We intend on making it better than any paid stuff out
217:42 making it better than any paid stuff out there and let you decide if we
217:44 there and let you decide if we succeeded. You can find our videos on
217:46 succeeded. You can find our videos on YouTube or wherever you watch videos by
217:48 YouTube or wherever you watch videos by searching Alexi. And if you like short
217:50 searching Alexi. And if you like short form videos, check out the byite-sized
217:51 form videos, check out the byite-sized content we pump out daily at
217:52 content we pump out daily at acquisition.com/media.
217:54 acquisition.com/media. You'll see all the places we post, and
217:56 You'll see all the places we post, and you can pick the ones you like most. And
217:58 you can pick the ones you like most. And last, thank you again. Please be one of
218:00 last, thank you again. Please be one of those givers and share this with
218:02 those givers and share this with entrepreneurs by leaving a review. It
218:03 entrepreneurs by leaving a review. It would mean the world to me. I'm sending
218:05 would mean the world to me. I'm sending you business building vibes from my
218:07 you business building vibes from my desk. I spent a lot of time there, so
218:09 desk. I spent a lot of time there, so it's a lot of vibes. May your desire be
218:10 it's a lot of vibes. May your desire be greater than your obstacles.
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