Summary The offer is king: Focus on creating an irresistible core offer to drive business growth. Example of a great offer: Domino's promise of "delivered to your door in 30 minutes or it's free" drove massive growth due to its compelling nature. Components of a great offer: Ensure your offers have believability, a high perceived…
Summary I learned a valuable sales technique from observing Richard Schwartz's fur business, which dominated the market by doing the everyday things better. In upselling, it's crucial to get customers to say no in a way that leads them to say yes, increasing the likelihood of upselling successfully. Upsells are important as they drive bottom-line…
Summary When determining the number of sessions for reopening, adjust the price to correspond with the capacity restrictions and quality of service provided. If you're restricted to operating with few clients, like 8 clients per session including trainers, charge more to reflect the premium service – potentially $300-$400 per month. Take advantage of the fact…
Summary Believe that everyone buys something, as everyone has some money and problems that need addressing. Aim to sell the primary program but be prepared to downsell when necessary, especially if a customer can't afford the primary offer. Downsells should be executed properly, or else it can seem desperate and unethical, leading to a loss…
Summary I've been working hard on our new phone sales training, aiming to make it one of our best offerings yet. A gym owner who was struggling with sales improved significantly after a coaching call, going from zero for 25 to five for nine overnight. The key takeaway from this experience is that the person…
Summary Develop skills to a proficient level before deepening them through consistent execution, repetition, and improving focus and determination to avoid distractions. Persistent discipline is critical; resist starting new ventures prematurely, as exemplified by delaying my supplement company to focus on gym launch, leading to later success. Staying focused on the core business can be…
Summary Structure operations by first listing the desired outcomes that need to happen. The size of the business often indicates operational efficiency; better operations usually mean more profit. Entrepreneurs often focus on marketing and sales but underestimate the importance of operational components, which are vital to success. View business as a pipeline from "click to…
Summary Attending events like SAS Academy and speaking there is incredibly valuable, as it presents opportunities to network with industry experts like Marcus Rivera from Vista, which is the world's largest private equity firm for software. Vista's standard operating procedures (VSOPs) are highly guarded secrets but they fundamentally rely on the concept of scoring leads,…
Summary I believe in providing solutions that cater to the majority, aiming for an 80% win for 90% of the marketplace over a 100% win for a smaller 5%. Being adaptable and tailoring advice to the audience is crucial, as I would run a gym somewhat differently than what I generally recommend, due to personal…
Summary I've been looking into ad funnels for both B2B and B2C markets and noticed a common mistake in ads that prevents conversion. For fitness ads, it's crucial to start your headline with a duration (e.g., "21 Day," "6 Week") because it sets the expectation of the time commitment. The second part of the headline…