Timeless Principles Of Building Business from the Extraordinary Mind of Jay Abraham
Today I am going to speak to how one needs to build a business — EXPONENTIALLY according to the Great Jay Abraham — Marketer Extraordinaire — He IS the MIND behind much of what others take as their own ideas — not really…not at all.
I am not going to speak to the many strategies that Jay has taught others to build their business — you can find many videos of him speaking for hours on that subject — however, what I do want to share with you are some very important principles that Jay lives by both in his personal life (after learning the hard way what truly matters — and it isn’t the billions of dollars he has earned helping to rebuild other peoples’ businesses fast and exponentially taking a piece of all the action he took on the business owners behalf).
Jay Abraham spoke of being confused at the beginning with what truly mattered in life when he first got into his business(es) because he did indeed believe it was all about the money — becoming very wealthy — owning all that great stuff — house by the beach, fancy cars and watches, jets, and yet he never ever spoke of any of those things while on stages — EVER! He didn’t need to nor did he need to ever drop an “F-Bomb” something I am still working on myself — because neither of these acts makes one a great role model for the younger folks coming up.
No, what he learned that was ever so powerful was to be curious about what it was that the person with whom he was going to leverage all of their business assets, personnel, client list, equipment, merchandise, systems, etc could best gain from his offering. Because, folks, if you are ignorant of what your client or customer needs from you, how are you going to be able to fulfill it? So, instead of trying to sell what you have, how about you ask some very deep to the root of your prospect’s problem questions, and then shut up and allow them to fully express what it is in services (or products) that they could really use to increase their margins, self-esteem, whatever… It’s time to get out of your own head and into your prospects. This is of triple importance if you are in the healthcare or personal development field where they are looking to you to have the expertise to help them heal whatever is ailing them, blocking them from that which they clearly desire and deserve.
Second, loyalty — so many people are more interested in killing their competition instead of learning about what they have to offer and filling in the gaps they may have — working collaboratively. Jay said that this was the most impactful thing that he did to build his businesses.
Third, you need to learn more about your prospect’s business/industry/problems then they know themselves and take the time to thoroughly understand it all. So, many people will skip this totally and just give a meaningless sales presentation and then wonder why it is that they didn’t make the sale. It’s about how you can best SERVE your prospect, and NEVER about selling them on anything. You want them to come to you, don’t you. Shift your thinking 180 degrees on this one!
Fourth, would be integrity — do what you say ALWAYS and never ever use another person’s systems, intellectual property, etc without giving credit to the person who taught you. There are more people who have stolen Jay’s ideas and spouting them as their own — he never told people not to use his ideas or to share them, he encouraged it actually. But by all means, give the man credit for his intellectual property — his original ideas as you would most certainly want the same for your original ideas, wouldn’t you?
Fifth, you need to play the long game. So many people are after the quick buck — well that is not where the money is made. One has to look at the “lifetime value of a customer/client” because selling again to the client you already have and has proven their interest in what you have by purchasing it, will indeed be the easiest sale of your life. So, stop worrying about always gaining new people into your funnel and instead go back to those who are interested and continue to make them more offers with ever-higher value propositions for both of you. This is one way to exponentially grow your business and its profits.
Sixth and this is the most important learning I got from my Dad, the dentist as well other than to always protect your integrity — NEVER, EVER FORGET FROM WHERE YOU CAME, EVER! There is much to be said for humility. It doesn’t mean to not take credit for that which you have done, but it does mean that there were people who came before you on whose shoulders you learned whatever you did. If you had to overcome some distressing issue in your past be it the color of your skin, the country of your birth, the socio-economic class, the mental health or physical health issues you had to overcome — ALWAYS REMEMBER that you are no better than any other person out there — and that your job is to take that which you have overcome and learned how to do better than many others is to share that knowledge with as many people as you can and make your profit on doing that.
Lastly, HAVE FUN! If you aren’t enjoying the work you are doing or the people with whom you are doing it, you are most certainly living a ‘dying.’ It is time to rethink what you are doing, your “WHY” for doing it, and reposition yourself in a manner that better serves you and therefore those with whom you are serving.
Learning: It is the process in the making of money that matters more than the money itself. If you are doing something aligned with your values, acting in integrity, being loyal, and going for the long view, and most important staying humble being willing to learn everything you can in service to your customer/client you will be successful — because you will be having fun doing that which you do for income production.