leverage & mastermind marketing system & optimization Martin Lee on 17 Jun 2007 01:14 pm
How to Uncover Your Greatest Opportunity
In my earlier post on the Mastermind Marketing System, I mentioned that my copy was still lying in my bookshelf. I received a feedback from Paul, one of the regular readers of my blog.
“You must listen to the Nightingale CDs although it’s more of an introduction to Jay than anything more sophisticated.”
I realised that he has a very good point, so I decided to finally get down to listening to it. I will be writing a very detailed summary here as well. To get the ball rolling, here’s the first installment of a 12-part series:
Good and bad leverage
Bad leverage is when you buy something using debt and hoping it will either go up in capital value so you can flip it or that the income will cover your monthly repayment.
If something goes wrong, you will be hit badly.
The upside leverage in your marketing and strategic activity is Optimization.
Costs you the same to do things differently yet the results are so much better. Optimization is about getting the highest and best performance and results in everything you do.
Your goal in business is to get the maximum result possible from the minimum time, effort, expenditure and risk. Ask yourself this question:
“What is the best use of this ________ ?”
The same effort, the same expense, the same sales force, the same people could and should and will produce far greater upside yield. Could be two, five or even twenty times better.
Always focus on the geometry of your business. Engineer activities that produce compound and exponential growth rather than linear results.
Marketing, Strategy and Innovation - The 3 key components to you producing massive results.
Making Money Connections
The human brain always doensn’t make the powerful connections immediately. Those who can make the most profits.
Example:
Around 2000 BC, man discovered ice-cream. It took another 3000 years before someone created the ice-cream cone.
In 1773, someone created the modern flush toilet. Toilet paper came along 100 years later.
Jay is a profit maximizer who can connect the dots. Seeing things in super logical manner that most people don’t.
How do you engineer true breakthroughs? More marketing, strategic and innovation breakthroughs.
From the top companies who do so, this is what Jay discovered.
They travel outside of your industry to look for the breakthroughs.
When you start doing so, you start to see all kinds of different ways that other people use to generate leads, sell to them, etc.
People in one industry pretty much follow the same basic revenue generating mechanism. All try to get customers the same way. Try to sell the same way. The most you can expect is to get results slightly better.
If you are the only player who does things differently, you can make your company perform massively better.
A successful process that is as common as dirt in one industry can possibly make you the dominant player in another if you are the first to adopt it (or a combination of it).
The odds are high that you have a limited number of customers, products you can sell and number of times your customers can buy from you.
Switch your thinking from tunnel vision to funnel vision. Able to funnel all the successful strategies in other industries and choosing the appropriate ones for your business.
Focus on the outcome of what you are doing, not what you are doing.
People don’t buy your product or service. They are buying your results.
Figure out what you are doing and optimize your results by adopting successful methods in other industries.
Note: The Nightingale Conant website where mastermind marketing system is being sold is currently being revamped. Therefore, the links I provided earlier will not work. Once I get the correct link, I will update them accordingly.
on 17 Jun 2007 at 5:34 pm 1.John said …
i went through the system, and i was thinking about direct mailing but i have not found a list broker that will be able to get me a good list. And singpost is charging high rates and just sending postcards instead for sales letters. what can i do about it?
on 17 Jun 2007 at 10:34 pm 2.Martin Lee said …
Hi John, by mentioning singpost, I assume you are talking about Singapore.
It really would depend on what product or service you are trying to market. Your approach will have to be different depending on whether yours is a mass market product or not.
If it is a mass market product, you can still send use postcards. However, the objective of the postcard is to prequalify the prospect and not to make the sale. Offer a freebie that the prospect can call/sms/email to request for.
Then, you can follow up with the salesletter subsequently.
If it is not a mass market product, you might be better off running space advertisements in the relevant niche publications to do lead generation. Then, mail your offers to the generated leads.
Hope that helps.
on 21 Jun 2007 at 10:11 am 3.Paul said …
This is a great way to start. I listened to my copy of Mastermind Marketing in the car so I had it on my To Do list to listen to it again but this time take notes. I think you are on the way to saving me a job.
On John’s point I would make two comments;
1) Jay recommends the power Parthenon - using multiple ways to generate leads and revenue streams because it’s so much more stable than the “diving board approach”.
2) Test, test, test. On principle I like postcard marketing provided the headline and offer are strong but you are limited to getting some simple response - perhaps a visit to your website to learn more.
on 30 Jun 2007 at 2:52 pm 4.Martin Lee said …
Hi Paul, glad you found this useful. You owe me a coffee! Just kidding.
Yes, I will definitely be talking about the Power Parthenon thing sometime later.
on 21 Apr 2008 at 6:53 pm 5.Peter said …
Guys,
Great post. I would add that all of Jays info is superb. The man really knows his material.
Like all things though, it can only be of use if you apply it. Knowledge in action!