downloads &joint ventures Martin Lee on 03 Aug 2007 02:41 am
How Chet Holmes Convinced Jay Abraham to a JV
This week, I have in place a nice little bonus for you. You’ll find it at the end of this post.
But before I go into that, I want to share a short story I’ve just read from the Chet Holmes book. A story of how Chet managed to get Jay Abraham to become his joint venture partner. A story (if you have not read before) that will no doubt make you realise how little you are currently doing.
Ever other week, Chet either tried to reach Jay by phone or sent him a letter. After a period of two (!) years, he finally got a call from Jay’s business manager for a lunch appointment. Chet flew over to Los Angeles for lunch and fixed up a very profitable joint venture partnership.
This marketing persistence is brutually deadly but you might only have resources to attempt it on your best 100 dream prospects.
By marketing to them over and over again, people go from “not knowing you” to “knowing who you are” to perhaps “getting annoyed” to finally getting obligated to buy from you. Of course, all these has to be done with finese.
There is another reasoning behind it.
Not everyone might be looking to buy your product at the time you are contacting them. Perhaps less than 10%. Assuming you are contacting the right prospects, there WILL be a time when what you are selling is exactly what they are searching for.
If you are the first company that comes to their mind when that time comes, you’ll have a high chance of getting the sale. Otherwise, out of sight, out of mind.
Hope you enjoyed this nice little story.
Here’s the bonus as promised. It’s a compilation of 5 issues from the “Making the Money Connection” newsletter series written by Jay Abraham. This was sent out to his private clients and subscribers previously.
on 03 Aug 2007 at 8:30 am 1.Martin Lee T.H. (S'pore) said …
Dear Martin,
Great little story, keep it up.
It’s this kind of story that helps spice our days, and keeps us going, that we aren’t alone.
Being a nobody, doesn’t mean that you can’t take on, or work with the “Big Boys”.
If you have an expertise or specialises in something over a great length in time, then you posses something that others do not have. And if you are able to convert this knowledge or skills into something that is marketable. Then working the best of the best in marketing, will catapult you, your product or services, greatly.
Don’t reinvent the wheel…… similarly, JV with the right Marketing Partner is essential to a quicker and surer way to Success.
Keep it up.
Best regards,
Martin Lee T.H. (Singapore)
MLNetbiz.com
on 03 Aug 2007 at 3:11 pm 2.Paul said …
I’ve heard Chet tell the story in the famous PEQ seminar from 2001.
It is remarkable how persistence can pay off but the common problem is that so many people don’t have the self confidence to push past the first or second rejections.
Now by my calculations that was about 50 communications before a positive response was received. This is a lot but then Jay Abraham isn’t going to cave in quickly to other people’s marketing.
Jay Levinson of Guerrilla Marketing fame reckons that it takes 9 contacts to move a prospective buyer from apathy to action. But the problem gets worse. We are all so busy filtering out commercial messages that we only notice about 1 in 3 of them so it takes 27 attempts on behalf of the seller.
Persistence does pay off but you have to accept that you can’t do it for every possible prospect. That’s why Chet’s concept of the Dream 100 (or even 50) is so powerful.
But that begs the question “who are your Dream 100 customers”
on 03 Aug 2007 at 10:42 pm 3.Martin Lee said …
Hi Paul,
I happen to be one of those who can’t push through repeated rejections. I got lots to learn about persistance.
Hi Martin Lee from Singapore!
People are going to be confused about both of us. 🙂 Hope to see you around here often.
on 04 Aug 2007 at 2:44 am 4.Alvin Huang said …
Hi Martin,
Very insightful story you have there. I would never have learnt this lesson about persistence otherwise.
And it came at the right timing since I would be embarking on some JVing in the near future.
Regards,
Alvin Huang
on 04 Aug 2007 at 8:06 am 5.John B said …
Great story Martin. I also appreciate the Making the Money Connection download (added it to my PDF collection).
Chet did tell the story in PEQ.
It was also interesting to hear how he got other big accounts (big fortune 500 ceo’s). I liked Chet’s explaination of his “arc”, going from “not knowing you” to being forced to take notice of you (because of your persistence).
It’ll only get worst in the future, as clutter goes up, demand on your time goes up, and your choice basically goes to infinite.
on 04 Aug 2007 at 9:31 pm 6.ed moore said …
Soooo, you don’t use the value of offering, then taking it away if rejected to make them want it more.
ed
on 06 Aug 2007 at 1:59 am 7.Martin Lee said …
It seems that everyone has seen the PEQ except me! lol.
He Ed, I don’t quite get what you mean. Care to elaborate for me? 🙂
on 26 Aug 2007 at 8:01 pm 8.zophia newborne said …
Great blog, Martin! Thks for review of book; I had heard of that method (EDUC’L MARKETING) but hey, I forgot it, so its the answer to a need right now. And it’s good for people.THKS AGAIN!!! God bless. ZN
on 26 Aug 2007 at 10:42 pm 9.Martin Lee said …
Hi Zophia, you are most welcome.
Do drop by often. 🙂
on 15 Nov 2007 at 5:15 pm 10.Albert Klamt said …
Martin, my best wishes, still from Berlin. Enjoy reading your blog. Diving deeper into JV Intelligence and Blueprints for collaborative busienss of all kinds. I am seeking Value-based Connections around the world and profitable sustainable Alignments which uses assets, talents, windfall opportunities and purpose based innovations.
Will visit your blog now regularly. Congratulations for having initiated it.
Best,
Albert
on 15 Nov 2007 at 5:38 pm 11.Martin Lee said …
Hi Albert,
Thanks for your message. Do keep me informed if you have any potential deals that might be mutually beneficial to both of us.
on 15 Nov 2007 at 5:45 pm 12.Albert Klamt said …
Hi Martin,
as may have discovered I am engaged- in personal collaboration with chancellor/founder -in getting Emirates College for Media Arts and Sciences started.
http://www.ecmas.net
Its located in Dubai, with Campus Options for Shanghai, Singapore, South Africa and elsewehere. The funding isnt closed right now. Every support for intitial Cash Flow and Seed Investment would be a good oportunity for both if us.
Businessplan and other specific details are available at any time.
Best,
Albert