Au Unlimited Checkbook Challenge Module 01

au-unlimited-checkbook-challenge-
module-01
Wed, 6/2 5:58PM 1:10:42
SUMMARY KEYWORDS
people, capital, pay, business, clients, money, buy, partner, advertising, sell, sales, called, company,
assets, world, strategy, create, product, year, stories
SPEAKERS
Jay Abraham, Brian Oney
00:11
We are going to demonstrate for you a multitude of ways for you to connect to new opportunities.
And it's going to be done by a man who has done it 1000s if not hundreds of 1000s of times, his
creativity and ingenious Funnel Vision where he has looked into the depths of over 1000
Industries has found connections and relationships that have made business owners money. So
stay tuned for an amazing series of how relational capital can build your business with that, Jay
Abraham,
00:50
thank you for the laudatory opening, I hope I'm deserving of it. So those of you who don't know
me, my name is Jay Abraham, I grew up businesses for a living, and I've had the privilege of doing
it on a worldwide basis for over 1000 Industries. And I am paused by the numbers said poised
opposed, with more challenges to solve and resolve for clients that I hope, then I think most
entrepreneurs, business owners or professionals like yourselves, or aspirants could imagine. And
over the course of my long, and I guess I'd call it colorful career, I've had the good fortune of
formulating, creating, giving birth, refining, evolving a number of different methodologies.
Probably my favorite, because it served me personally enormously well in the early stages of my
career. And it served my former employers and partners so well, is a concept that we are calling
relational capital, but it can be referred to in other ways, power partner, strategic alliances, joint
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Page 1 of 16 Transcribed by https://otter.ai
ventures, and one that I like to use to show the power, the unlimited business checkbook. The
basis of this is really simple. Whatever resources, whatever assets, whatever abilities, whatever
capital, human capital, intellectual capital, you think your company business practice is lacking,
or very limited on is no longer a problem. Because you have unlimited resources. It's out of create
unlimited business, wealth, without investment or risk. And the concept behind it is very, very
simple. Whatever you don't have somebody else, or some many buddies else has, your problem is
always not sometimes, but always the solution to someone else's bigger problem, you just need to
identify who they are, what it is, and show them that you solve it. When you do that.
03:27
They make their resources, their assets, their audience, their distribution channels, their
technology, their brand, all available to you for no fixed investment. And all you have to do is pay
them on results generate, or they will pay you on results generated because there's many ways to
do it. So today, and for the next two sessions, I'm going to spend an hour or so giving you
fundamentals, and then another hour or so working through those fundamentals as they directly
apply to the VIPs amongst your situation, you'll be able to take what I shared in that segment. So
take a lot of notes, and pose questions, issues challenges and ask me with very specific scenarios,
here is my business. Here's where I think I'm lacking. How would I use what you covered today,
immediately to help my business catapult to higher performance, multiply profitability, and
massively greater success. And I will, to the extent of my ability, answer that. So that's the good
news. There's no bad news here. The other good news is I'm going to do this in progressive layers.
I'm going to start off today. With fundamental philosophy, and bases, I'm going to tell some
stories. I'm going to then take the gloves off and get into very specific applications. And again,
we'll come to two stopping points, we'll take a little break, we'll tell you all the other things we are
doing for you that you might be interested in. And I will come back and I will answer questions,
solve problems, work on direct applications, role play, I'll do anything, everything that is
appropriate for that segment. Just so we're clear. And there's no misunderstanding, this is not an
offer to do private consulting. And I do not in these kinds of processes and programs talk about
anything in your business, other than the content that has been addressed. So please, so we don't
have any misunderstanding, don't ask me at the question and answer session about consulting
unless you want to engage me privately, because that's not what this this, this is all about
teaching you the fundamentals, a working short course primmer over three segments, on how you
and your company can harness capitalize, monetize actuate and execute a broad spectrum of
relational capital, upside leverage opportunities, power partnerships, strategic alliances, joint
ventures, endorsement deals, and ultimately have for evermore an unlimited business checkbook
where you can write all the checks you want, and none of them will ever be cashed. Until unless
they pay off in spades, they'll never write a check back to anyone, unless you make a profit on the
money after it's in your bank. So that's the cool part. So the concept here is a very simple one.
And it does come from so my other body of work, we have a concept called the nine drivers of
exponential growth. And they're the easiest, fastest, simplest safest ways to multiply the
performance of the business and their macro. And probably the single biggest one is this, you
change your strategy, your change your result. Sounds simple. But most people's strategy has
been predicated on a reality
07:34
check that is very, very constrained in their mindset, their paradigm says we've only got a finite
amount of people or capital. And so we can only do so much and we can only expand so much.
And we can only evolve so much and becomes it becomes excuse me, a self fulfilling prophecy.
Our goal is to smash that belief system wide open. To break the glass ceiling, you have
unknowingly erected on your business growth, performance, profitability, and possibilities and
introduce you to an entire new worldview, where you see everything as opportunity. And you see
easily and continuously, how to capitalize on. So what we're doing is changing your strategy. So
we can profoundly and forevermore change your results. Okay, so some dangerous myths that
we're going to cover. first myth is all my problems can be solved by just had the capital. Not true.
Because most people, when they get the capital, they do not have enough expertise,
sophistication, self control, knowledge of the dynamics, the markets they're trying to apply it to.
And they waste huge amounts. And they dissipated when you can tie into people who have far
greater knowledge than you have already used their capital to create the outcomes you're trying
to do with your capital, but you eliminate the need for it. It's much safer, it's much higher,
probable, and it's much more result certain. So money isn't going to solve your problems can help.
But what the question you need to ask is, is this if I had the capital, what would I do with it? A
story is appropriate right now. So many years ago, I started going to China before COVID and
everything else and teaching quality An and passionate segment of Chinese entrepreneurs, my
methods. And the first time I ever did it, a young man came to the microphone towards the end,
when it was q&a time. He asked me, Jay, what do you do if your business is too small, and the
bank will not lend you money to grow? And I said, Well, let me ask you a really simple question.
What would you do with the money if you had it? Well said, well, Jay, I'm a small localized
motorcycle manufacturer, not only in China, where they have some cities that are literally 100
million population, would you have a localized motorcycle manufacturer just in that state? He
said, If I had the money, the capital, I would go all over Asia, I would find the best place to set up
a huge factory, I would hire salespeople, recruit dealers, distributors, open offices, get sales people
and sell motorcycles all over Asia. And I said, Okay, so what's the problem he's getting irritated
goes, I told you, they will give you the money. And I said, you don't need the money, you need the
equivalent of what the money would buy. If you had it. If you had the money, you would buy it, or
lease or rent a building, you would buy or lease or read equipment, you would buy and hire
people, you would end up producing motorcycles. And then you'd have to go to each city and
you'd have to open an office, which would mean negotiating leases and rentals and staffing them
and equipping them. And then you'd have to hire sales people for those offices. And then you'd
have to train them. And you'd have to give them salaries or draws until they performed. And then
you'd have to build a target market of prospective dealers. And then you'd have to basically have
your sales people call on them and try to convince them to stock your motorcycles cycles on
speculation. And that could take a long time and cost a lot. But what if you could eliminate all
those requirements? Because someone else had already done it. And you could tie into everything
they are and he had created? And he goes, Well, what do you mean?
12:29
I said, go on a field trip to Asia, find someone who's got a large factory, already got offices, who's
not competitive, or it's complimentary. They're doing something similar, has sales people has
brand recognition has a dealer network, and partner with them. And I gave him a few more
lessons. And that was it. year and a half later, I come back to China and this was in shenzen.
Probably one of the newest cities in China, very interesting equivalent of their Silicon Valley. And
sure as heck, at the end of my seminar, the same young man comes to the mic, but this time he's
smiling, like the Cheshire Cat. And he said, Jay, I know what you told me, it worked. And I
answered questions all day long to private clients, to groups I work with to keynote address
attendees to podcast interview or so I don't remember most of the time, anything I say it says it's
a haze. So I said well, what what did I tell you? And he told me I said, Well, what did you do? He
said I did what you said I went all up Asia and when I got to Kuala Lumpur in Malaysia, there
existed in that city, the largest longmore manufacturer in all of Asia. I met with them, I showed
them my product. I told them my vision. They had a huge factory that was under utilizing its
second ship, we made a deal that they would provide the factory the equipment, the people, I
had to provide the tool and dyes which are the molds to form the metal and the training. And I
had to train the salespeople on how to sell the motorcycles to dealers and the dealers on how to
sell the motorcycles to consumers. We collaborated and my out of pocket investment was very,
very, very, very low just the tool and dyes and travel. They provided everything else and we split
profits. And he said in the first full year of operation, both sides made a profit of $10 million each.
That's the power of what I'm teaching you today and over the next two additional sessions. So
take Attention, take lots of notes. If you're a VIP, ask a lot of questions. And if you're not a VIP, I
imagine you still have time to upgrade. So maybe you want to upgrade. So you don't need capital
to grow, you don't even need capital to start a business, what you need are access to other
people's assets, and distribution, access to their assets, tangible or intangible, and access to their
access, which is the reach they have to target audiences, you would want to reach to monetize.
Okay. So let's just look at some of the downside of having capital, you can be over leveraged, you
can borrow money and have to pay it back and either Miss, utilize it on something that doesn't
pay off, wasted on advertising, selling product development, that doesn't work, you can do all
kinds of things where that capital liability, the repayment of it to either people who lend it to you
or our investors who expected back or both could be onerous, and the stress and the pressure, it
could cost is enormous. And servicing that debt could cause you enormous financial grief, you
could maybe not be able to make payroll or draw money yourself. Or you might have to, you
know, reduce team members. And if you can't pay it back, then either you have to do some very,
very significant things with the company, throw it into some kind of illegal reorganization, or the
creditors can take back the assets. And you don't want to do that if you don't have to.
16:56
When you hire a lot of people, if you had the money, you got to train them, you got to pay them.
And most of them don't pay off in the beginning. And historically, in my share the most masterful
recruiter of people, you're going to have a qualitative turn learning curve, and you might lose half
the people you hire. So you gotta agree, hire, pay them, wait for them to pay off if they don't
replace them severance, everything else. So if you can avoid all that and go right to the end
result, Isn't that better? Okay, so I believe that your greatest growth strategy is using other
people's brand, other people's distribution, other people's technology, other people's equipment,
other people's expertise, other people's credibility, other people's resources, instead of your own.
Now, let me give you a couple of easy historic examples. Okay, I'll give you them from my life. And
I'll give you reference ones. So from my life, in the beginning of my career, I worked for a company
that sold a product that in the United States is very popular today. It's called icyhot. It's for
arthritis. When I worked for the company, it was just starting out, and it was very much a male or
a product, you buy it and be sent to you at home. And the company was very small, they had
acquired the brand from somebody else. It was an old company that was not doing well. And they
had no marketing budget to spend, but they wanted to grow it. And I looked at the repurchase
history and saw that every time we got a certain number of first time buyers, the majority would
repurchase over and over and over again for life or until somebody came up with a cure for
arthritis bursitis, rheumatism etc. So, I had no marketing money, I didn't have $100,000 to spend, I
had no money. But the man that owned it said if you can figure out how to get me marketing that
will pay off and I don't have to write a check until it pays off. I'll take all you can get and I'll give
you a share of the results. Okay, so what I did was I went to over 1000 radio stations, television
stations, magazines, newspapers, and predecessors of today what would be a platform but this
was before Internet, and I instead of get buy advertising, which I had no money to purchase, I
gave them a proposition. These were ones that all had the same demographic profile as the
audience I wanted to reach for arthritis product. I said, if you have unsold advertising, availability,
whether it's time meaning a radio, television has time, or space, which is a newspaper or a
magazine, run ads for us selling our product, and you can keep all the sales money that comes.
And actually gave him a little bit more than that. And they thought we were crazy, because no
one had ever done that. But we knew that if we gave them all the first sale, we would get 80% of
those people buy over and over and over again, every month forever until they died or arthritis
was cured. And on that basic realization, and I'm getting short, I'm shortcutting the story because
you had to know how to present it, how to make the proposition credible, how to negotiate it, how
to close and how to paper it. But on that basis alone, we generated 500,000, half a million new
buyers, in about a year. I got advertising exposure, we did not pay one penny for that today would
be worth over $150 million.
21:25
We accidentally forced retail distribution. What this means is we started as a mail order company.
But we had so much advertising in so many forms of media, that it got people so aware of the
product that they would go to their grocer or their drugstore and asked for the product. The
grocery chain or the drug chain would call us and buy it to put on their shelves. And our product in
less than a year went from a mailer company, which was not worth very much to a consumer
products company. That is worth about eight times more multiple. We became a very popular
product overnight, the company was sold for something like $16 million. And to appreciate the
significance. The man I work for bought it for $20,000 and a year and a half later sold it but that
was all possible because of the game we made. When I was in the gold brokerage business, I work
for a company that sold gold bullion to people who were investors. Everyone else was running ads
in the Wall Street Journal, Forbes Barron's daily business newspaper sections. I didn't do that. I
went to every financial newsletter out there that had the right profile. I went to the people who
sold investment books direct to investors. I went to seminar companies that taught investing
seminars and we partnered in a way that they promoted our brokerage business to all their
members, their buyers, their attendees, their clients, and we gave them a override. And in an
amazing 15 months, we went from $300,000 in struggling volume to $500 million in one year just
by that strategy. When DHL those of you who understand overnight package delivery came to the
United States. They didn't have a marketing budget but they had a brilliant strategy. Their
strategy was they would go to radio stations and television stations and they would trade
overnight package delivery services DHL services for advertising the stations would run from
them. And DHL said you can have a credit I think they gave about a five or $10 million credit to all
these stations over a period of time they told the stations they didn't have to use their credit right
away. But DHL wanted to use their credit right away and so what happened with the stations
didn't use a lot of it but the stations gave DHL all their advertising credit in a very short period
which may DHL seemed like it was everywhere. So tons of people started using it instead of
Federal Express. DHL built their United States presence that way. Plus, they got advertising for
pennies on the dollar. They did not have to pay for most of it until long after it delivered cash
clients from the advertising that was run. And they got the could stall was their strategy. And they
had one more really cool benefit. They knew that when the trade period ended when the radio
stations and the television stations used all of the trade credit than DHL had provided that that
they would have gotten so used to using DHL that they would continue, but they would move to a
cash paying client, which they did. This was their strategy. One more, which is pretty cool, similar
Carnival Cruise when it first came to the United States and started was owned by somebody who
did not have a lot of capital today they're multibillion, the largest they own five or seven different
cruise lines around the world. But it was one second hand boat that the man had started owned.
His strategy became going to radio stations almost the same way as
26:11
DHL, but they did something even better. They gave all the radio television stations magazines
two years time to use their credit. By the way, I should tell one piece of the story. These boats were
not doing that, well, this boat was doing that well, it had about 800 rooms, and it was only going
out half filled every week. So if you use today's values 400 unused rooms every week at let's call it
12 $100 is approximately 400, almost $500,000 a week of buying power they weren't using. My
friend traded all those unused rooms, to radio and TV stations. And that alone wouldn't have been
bad for advertising. But he was smarter. He gave them two years to use their time. So no urgency.
He also used his time right away to get people who paid cash to use the rooms. When the radio
television stations use their rooms, they would normally give them to either clients or their
executives. And they would almost always pay cash to rent another room for either family, friends
who would go with them. So it was cash. Carnival charge people a $100 surge surcharge to set up
the trade when they used and redeem their credit. So even though they traded for advertising
dollar for dollar, and they traded space on the boat that was empty. So it cost them functionally
nothing to buy $500,000 a week in advertising. They made money because they got $100 for
everyone who used it for a week. And they made money on the ship selling our excursions,
gambling. And that's how they did it. One more story because I want to give you the basis before
we get into the process. So I had a client in Australia, that was a first time home builder. And they
were spending about $15,000 in advertising and marketing to sell a new home. And they were
desperate to try to reduce their cost of sales. But they didn't have a lot of ways to do it. I
identified for them a better way to use variations of what we're about to teach you to change the
whole business model. And here's what they did. They instead under my direction found the best
apartment complexes that always add a waiting list that serve people who had the highest
probability of evolving and moving to become first time home builders. They made a deal with
those apartments that anyone that that this home builder would become the recommended and
endorsed provider of first time homes recommended by the apartment owner to the apartment
owners. There are people renting the apartment the tenants that every time a tenant moved out
and into one of my clients homes, my client would give the apart but owner $6,000 and just to
help That, that, that collaboration for the apartment owner, we would agree to pay up to six
months of rent. If the apartment the person buying our home
30:16
was remained vacant for up to six months now, we only chose apartments that had waiting lists
of people. So the probability of us having to pay off on subsidizing on occupied apartments was
as close to zero as possible. We only paid 6000, for a sale instead of 15. So we saved $9,000 of
sale. And they were selling hundreds of homes. And even when we rarely did pay off on on an
occupied apartments, it was rarely more than 60 days. So that's another way we did that. I'll give
you one more. And I've got hundreds of these stories. And we're going to pepper, all the things
we'll teach you throughout with similar examples. But I want you to see what's possible. So many
years ago, also in Australia will actually give you two more, because I want you to see just the fun
things that are possible. I had a company in the very newly emerging I'm dating myself field of of
CRM. This was one of the earliest companies that they were very expensive. And they were
running ads, and almost all of the trade magazines, all the industry magazines and journals,
looking for companies to purchase their CRM and their CRM was very expensive for the time and
very complex. And they were getting about 1000 inquiries a month. But they were only converting
about 3%. And that was still very profitable. And I think they were spending back that about
$100,000 a month. And I said, well, you're wasting $97,000 a month because you're not selling
97% of the leads. They never thought about that. So I said people that are responding to your ads
for CRM, it's not a real sexy thing. They want the the outcome a CRM system delivers. They just
can't well don't want yours. It's either too expensive or too complex, do any bells and whistles, you
don't have good financing. I said why don't you search all over the world for somebody that has a
more basic emerging CRM system that doesn't know how to market or sell, get the rights to that
to the audiences that you are targeting, maybe add a couple of your own bells and whistles and
make it a private label that you brand your own, and offer that lower priced, more simplistic
system to all the 97% of the people that don't buy. They did that. And they made more money
from that lower priced secondary product or service than they did the first but more importantly,
the person that created that lower priced products. But as I found out years developing it over a
million dollars creating it wasted enormous amount of money trying to promote it because he
didn't know how to sell and market. But enough that that promotion, got the attention of my, my
client, we were able to take all of that pay them a royalty of 5% of sales. And we got control of it
all over Australia. So what we're going to get into now is the result of a lifetime of my observation,
education, experimentation, implementation and understanding that has been integrated into a
very clear cut training. Okay. So I discovered relational capital and all the variations that I
identified earlier, because I got the privilege of working with people who were nonlinear thinkers.
They understood back before creative real estate ever started.
34:44
There were creative entrepreneurs who saw how to get control of other people's assets and
access and use it as their own. And they were masterful and they taught me they taught Made a
start by looking at a business and ask yourself, how many facets, elements, areas of this business
would help me the entrepreneur grow and prosper if I had. And you could fill in the blank capital,
if I had expertise, if I had infrastructure, if I had technology, if I had equipment, if I had offices,
different places, if I had new product, new products, if I had and you fill in the blank, then you
divide and conquer, you take the answers you have given yourself, you break them into silos, and
then you take one silo time, the Capital One the technology one the officers want to salespeople.
And then you ask yourself who already has that and could be a target for me to partner with, who
has a relationship with their audience, who has a a big facility, who has equipment that's being
underutilized, who has offices everywhere, that has the ability for me to put one of my people in it
or use their people who has a Salesforce calling on the same market, I want to reach who has
members or visitors or or participants or clients that are the same profile I want to reach who has
who has billing departments payables departments, buying departments, customer service
departments, repair and service departments that can help me that I could only pay for on a
result basis. When you can move your expense from paying for speculation to paying for results.
Every dollar you pay out, is only paid out when you get more than $1 back, but the dollar back
you already have before you send your half out and it's not new and only a half, it's only a
fraction, particularly if you sell anything that has repeat or, or or upgrade if somebody buys
something, and then buys that same thing over and over again or buys a lot of other things from
you. And you only have to pay out to people to get you that first sale that perspire you make out
like a bandit. As we get started, you have to believe a couple of suppositions supposition. One is
that you and your business deserve to grow and prosper. If you don't believe that you're relegated
to a life of quiet desperation as either throw or Emerson said I don't remember whose quote it
was. But you don't want to be quietly desperate, you want to be openly rapturous, because you've
figured out that the world is your oyster, and you can tap into hundreds of 1000s millions 10s of
millions, hundreds of millions of dollars of other people's resources, assets, relational capital, in
any way you want, to any extent you want, in as many areas of business locale application you
want, and you're only limited by this. Okay? So the first thing is you got to have your deserve it,
then you've got to understand that your problem is always somebody else's bigger problem, they
just don't always tell it then you got to figure out what it is that would make your company grow
the most the fastest first, second, third, and so on. And before you go after it, you have to know
what you would do with it if you got because the worst thing in the world is to acquire the
agreement for people to partner with your power partner, joint venture, collaborate indoors, co
brand
39:44
but you avail yourself of their resources, their infrastructure, their personnel, their their equipment,
their brand and not know what to do with it. So preparation is critical or you will basically stall,
and you will end up basically, it'll be a period papery meeting. someone saying yes. If you don't
know what to do with it is going to, it's going to be a waste. So you figure out what you would
want. If you had an unlimited business checker, what would you want? Would you want to hire
more salespeople? Would you want an expert who could help you with online marketing? Would
you want a way to move all your fixed expense to variable get rid of your bookkeeper your billing
department your account payable depart? Would you like to have a Salesforce all over? Your city?
Your state? North America? The world? Would you love to have access to greater technology?
Would you like? Gee, what else would you like? Would you like unlimited advertising? Would you
like to be able to create? Oh, I don't know, three to five new products every year that didn't cost
you a cent to develop? Would you like to penetrate new markets or new industries? Would you
like to go into a market? And and instead of having to spend the years and a ton of advertising
marketing to try to get credibility, get instant credibility overnight for no investment? no expense?
Would you really like to be able to have some of the most respected influencers in the market
you're after? Tell everyone that you're the you're the company, you're the product, you're the
service, you're the person that they alone, recommend that no one else is recommended by that. I
could go on and on. But that's the game we're trying to teach you to play. And that and when you
become college confident, and then go from competency to proficiency. And then you go to
mastery. The the rewards you receive for winning this game are unimaginably significant with me,
right?
42:27
Yeah, you asked a question. And sometimes people just default into that listening mode. That was
a serious question. If you can put into the chat. What, what do you want for your business for your
life, which one of those things and if you make a list of them, then prioritize so that you find which
one right now would make the biggest difference in your life and business. Because when we go
into q&a, the VIPs can share that want and we can strategize on how to get it when we shift over
into that and a little bit
43:02
good. I also, most all of my career, certainly at this point in my life has been focused squarely on
dealing with operating businesses and professional practices. However, I am assuming two
different realities for this first introductory stage of this, of this process. The first one is that some
of you watching, don't have a business, and are trying to figure out how to apply this either to
your employer, or to a business that you want to start. And you may or may not be rigid on what
that business is, you may have a very clear cut idea that I'm going to go into such and such a
business. And I want to do everything in my power to make it successful, and I don't have a lot of
capital or resources, or you may be just exploring and and and examining a multitude of different
businesses trying to find the one that's right for you. For those two, and there's one more, there
are a lot of you that probably have never thought about this, but you might be in a business, you
shouldn't be running yourself, maybe you shouldn't even be owning. Because even though I will
tell you how to grow any business, well beyond your imagination, beyond your imagination is a
relative concept. If you're reading are owning a business that's only making you 75 or $100,000.
And I give you ways to get it to make you 200 or 250. That's profound, but if the same knowledge
I gave you the same opportunity cost, meaning, time, effort, access to win parts of the market you
want to access the days, weeks, months, years you're alive. And the resources you invest in this
pursuit could be re purposed to something that could make you 500,000 or a million, and that
those higher stakes activities would produce for you true wealth. Because those kinds of
businesses, or business assets would be prized, and people would pay you to buy it at some
multiple of the earnings, you might be better advised to rethink what you're doing now and either
have someone else write it for you sell it, or close it. And I'm just giving you a thought. And here's
why. A very ation of relational capital is getting control of other people's access, access. So what
does that mean? I will tell you two or so stories now just to whet your creative thinking process so
that when we get into methodology, you can think about it from the business, you own a business,
you might want to get into businesses, you might want to get control of and give other people to
run, or businesses you might want to get control of and flip because all of those are options you
have available at will at will pretty cool. So a couple of quick stories. I have a colleague who
many years ago, moved to Los Angeles and had no business and had no job but he was not poor.
He was successful past entrepreneur who wanted to change careers. And he understood
inherently what I'm teaching you. If he got control of other people's assets or access, he had the
option of keeping it, selling it. Partnering with it. What did he do? He looked around and he at he
honed in on the Rose Bowl. Those of you from the United States would know the Rose Bowl I guess
around the world as the stadium that once a year is played they rose bowl to football game. It's a
championship game and it's very well tell arise probably around the world. It's also a stadium that
are UCLA, University of California at Los Angeles plays their football games at and all told
between UCLA and the Rose Bowl and a couple of other events. It's used this much of the year,
particularly on the weekends. This much of the year, back then it was under utilized totally. My
colleague understood. gap filling, he saw a gap. He saw a facility that was centrally accessible by
a lot of highways. He saw a facility that had enormously great parking. He saw a facility that was
already set up for enormous quantities of display booths, vendors. And he connected all that and
thought
48:42
flea market.
48:44
He knew nothing about flea markets, but he went to the owners of the rosebowl, which is the
county of Los Angeles. And he negotiated a long term contract to operate flea markets every
weekend that it wasn't being used for other activities, which were most of the weekends. He
agreed to pay them a certain percentage of all the revenue that came from admission sales,
Booth rental and any other things that were operated by the management. As soon as he got he
also had a provision in the agreement that he could bring a partner on to assist with professional
management. As soon as he got that agreement, he went to the number one, believe it or not,
there's a number one flea market operator and he showed them what he had this as code pre
monetized asset. This agreement, he got them to write him a check for approximately $500,000
upfront to assume the management the operation of the flea market, and to give him overriding
royalties that made him approximately a million dollars a year, just because he saw how to get
control of the asset, and the access and flip it, but keep participating. There are many stories
where people would get the asset and just flip it and, and walk away with, you know, a multi
$100,000 or million dollar gain. And you could do that to think real estate flipping, but this way,
it's asset and access flipping. So that's one approach. A related approach I had a client many
years ago in Australia. I believe the city was Melbourne, who realized that downtown Melbourne
had a law, a rule that no sign advertiser, no oversized, large sign advertiser could run any signs
outside, on any of the buildings in the business district, the CBD. But when he studied the rules,
there were no rules prohibiting running signs on the inside of the buildings facing out, you just
couldn't put them on the outside facing out. With that distinction, he went to as many ground
level offices he could find in Melbourne. And he secured the rights to put the kind of signs that you
can see through but people can see it in a concrete looking way. And he tied up just tons of these
offices. And he literally took all these agreements to the number one sign company, and he
flipped it to them again, for an upfront cash payment and an override that made him a ton of
money. Believe it or not, I could keep telling these stories for hours. But I'm just trying to show you
the the enormous spectrum of opportunities that exist when you master what I am saying. One
more story.
52:22
I was for a number of years in the seminar business, I got out not because I wasn't successful, it
just wasn't my first love I didn't enjoy. But when we did it, we did a quarter billion dollars $250
million of revenue in a very short period of time. And our risk to do it was so low, it almost didn't
calculate. Why? Because I identified all the influencers, all the companies, all the media people I
could who already had a trusted and direct, credible and impactful relationship or influence with
the entrepreneur profile I wanted to reach. They were financial newsletters who had entrepreneurs
who were investors. They were Tony Robbins, who had a ton of entrepreneurs. And when they
made a lot of money, we're now trying to figure out other facets of, of the meaning of life. They
were Entrepreneur Magazine, they were Success Magazine. They were seminar companies that
weren't competitive. They were the inflight magazines, and I got all of them to run ads
promotions, let me do mailings to their list they endorsed and I didn't pay them anything for that I
would sometimes cover the art costs, which was a fraction of what anybody would charge you.
And instead I paid them 9% of the revenue that came in. So in $250 million. I paid out about let's
see zero buy or 820 2 million on 250 million less than 10% 9% you can do a lot of things when you
understand the power of this. First thing is take your business and ask yourself where do I believe
or where have I believe not now you don't but where have I believed up till today that my business
was resource impaired what what macro areas of the business, so marketing operations, product
development, sales, okay? And make those macro categories then within its sales. What resource
within that are resources? If I add the money, would I pay to either acquire hire partner? Okay?
And now you're going to go from macro this to, not micro, but concrete macro, right? You're still
not with companies, you're just with categories. Are you with me? Brian? Yes. Okay. Next, you take
each of those, these concrete macro categories. And now you start thinking, researching,
identifying actual companies in those fields that best satisfy your requirements. And the ones that
best satisfy your requirements will depend on the current size and scope of your current business.
If you're very small, and you're operating in a very limited environment, market, or world, then
you're not going to go to big companies who will partner you have to find people in these
categories that are smaller independent. If you're significant, you would find ones that are larger.
But I want you to go from what's the big area that I would like to improve? Because I thought
historically, I had an impairment of resources, what's the concrete category underneath? And then
at who has that resource right now? Okay, so that's the first thing you're going to do between now
and the next segment. The next thing you're going to do is ask yourself this, you're going to go
through some some questions. What could I add that I haven't thought about? Besides what I
know that I'd like to have? What am I not thought of that
57:02
I could have? For example, one of the methodologies that I teach is called the power Parthenon
of geometric business growth. And it's based on the assumption that most businesses drive almost
all their revenue from just one primary source, Facebook, or YouTube, or radio or word of mouth,
or cold, calling sales people or whatever. And that might be you. And you might not be thinking
about adding any other revenue generating addition. But now that you have unlimited
checkbook, and you could expand infinitely, what else could you be using to grow that business?
Could you be having a Salesforce? Could you be Could you be having a podcast? Could you be
running ads on people's platforms? Could you be, you know, located when the world opens up in
shopping centers, or at events? What could you be doing that where you're not even thinking
about doing right now? And where else? Could you be doing it? You might see yourself right now
as a local business, and being one facility and serving one city or part of a city. But is that reality?
Your total possibility? Or could you say wow, what would it take to have more facilities in the city?
Or have facilities all over the state? Or have facilities all over North America or at facilities in five
59:14
continents? I want you to think in that kind of a mindset.
59:22
Okay, that's great. And when you do that, you're going to after you get these answers, you're
going to do the same process we did on the things that seem evident to you'd like to have if you
had an unlimited checkbook, which you do now. You're going to say, Okay, if I wanted three other
offices, because I only have one, what would I need? I need a facility. I would need it, man, it
would need to have equipment. Then you say who's already got a facility and people that had a
similar audience are not similar, but plenty of logical capacity that I could partner with and not
have to pay for the rent and not have to pay for the people and either occupy it or have them do
it for me with my brand and my product service proposition with a Brian, that makes total sense.
So you're making lists, you're making lists. Once you make all of these lists, now you have at least
a beginning awareness of what's possible for you now that you probably never thought was
possible. A minute before you started this program with me. The last thing is a very macro
category. Are you interested in passive income? Now anybody that says no, probably is not being
truthful with themselves because geez about everybody's dream that I've ever met is to have
enough passive income, they don't have to work or enough passive income that it will buy the
wealth. Vehicles they want, income property, other businesses, patents, whatever they're trying to
do. So if your answer is Yeah, I would love passive income. I'm going to give you a short course
education in one of these segments on how to master passive income. And in doing so, create for
yourself cash flow return recurring streams of income that you have the ability to either own
partner own with somebody else who manages it, or flip. Okay, right. Sounds great. I'm looking
forward to that. So for today, I have gotten your mind in gear, I have introduced you to the basic
premise, I have given you homework. And I'm going to give you before we stop for a very quick
break, and an update on some of the other programs and processes we offer. I'm going to give
you a couple more stories to captivate your imagination. Okay, all right. Look, let's do it. So I'm
going to give you the one of the ones that's my favorite. The man who had everyone else buy him
a Porsche automobile dealership, without any cost to him whatsoever, and gave him $500,000 of
cash for the privilege. So a few years ago, there was a man still is this man, but what I'm going to
tell you about him is no longer true. He loved Porsche automobiles. that's still true. But the part
that I'm about to say his he had not enough money to even buy himself a Porsche, but he loved
Porsche automobiles. He found out that a small Porsche dealership was coming up for sale in
Northern California. He couldn't even muster enough money to buy or lease a Porsche, let alone
buy a Porsche dealership. And he did not have a wealth of prosperous friends or relatives to lend
him the money. But nevertheless, he examined and explored the dealership opportunity. And
upon studying the the requirements and the rules and regulations of being a dealer, he found a
very interesting concept that he had never thought about. It had to do with
1:04:18
with demonstrator models. Turns out back then I don't know if it's still true. You could take a brand
new Porsche, and you could let someone drive it for up to I believe I may be off a little bit but the
essence is correct. 3000 miles or three months, whichever came first. And still licensed as a new
vehicle, you just sell it for a slight discount. With that simple piece of data, he came up with one of
the most forever ingenious ideas I think I ever heard in my life. He ran ads all over California and
the ad said, drive a brand new Porsche every year for life for a one time investment of $75,000.
And his idea behind it was anybody who gave him $75,000 would get a demo for a period of time
every year to try it, not forever, but for a period of time. And he got, I think it was 200 people 200
people to get him $75,000 to be able to drive a Porsche for three months or less. And with that
money, he bought the dealership, I think back then it's a while back, it was a million dollars down.
He had $500,000 of working capital. He didn't have one penny, of debt obligation, and he didn't
give away 1% even no percent of equity, he had no obligation to these people other than letting
him drive a demo one time a year for a period of time for life. Or as long as you own the
dealership. He found to his amazement and delight, that many of the people that drove the car
wanted to buy it until you would sell it to him for a profit. He found out that now he had hundreds
of no no cost salespeople and refers all over California and the country so he could sell and ship
them anywhere. Pretty cool hombre.
1:06:50
Sounds like a dream come true.
1:06:54
I'll give you one more concept. And then we'll take a break. Okay. So the other concept is what
I've always loved. Many, many years ago, an insurance company called colonial pin insurance
was formed. And they were formed to do group type coverage to go to organizations, unions.
Perfect professions, and right insurance for all of them group insurance, but they were struggling,
they were having great trouble getting clients. And after a couple of years of doing not really well.
One of the directors who was very, very nonlinear very much in the mind. The mindset that I'm
trying to teach you this day, and the rest of the sessions said, if we can't get clients, why don't we
create our own. And with that simple shift of reality, they created an organization that they built,
called AARP, the American Association of retired people to nonprofit, they created it. They were
they marketed it, they built it into a behemoth. But they did it so they would have a client and
they ended up selling billions and billions of dollars of insurance to that audience. I had a similar
colleague who was one of the top people in creating marketing for nonprofits, he could create
marketing, that would get so many donations, it was unbelievable. And back when he did it, it was
legal for the creator of the marketing to be paid a share of the first time donation, he was making
millions. And he lost clients not because he was unsuccessful, but because they resented paying
him so much. After about five times losing clients because of runaway success. He decided with
his partner screw that we'll just start our own nonprofit. So we have a permanent client that will
not ever virus and they created what then was called the National taxpayers union. So they had a
client that would never fire them. So I'm getting your mind I hoping gear to see possibilities you'd
never thought about. Let's take a break. Brian, tell us a little bit more about all we do. And when
we come back, I would ask you to ask me questions. And we will talk about the process and I'll
give you a little more about what's going to happen on the next segment and then we'll give you
time to start working on your list. Because you can't really achieve the possibility and the
potential in this very powerful mindset, strategy, discipline, if you don't know what you're trying to
accomplish if you don't know what activities, what assets, what access, what facets of business
growth you're trying to achieve, and acquire. So Brian, why don't we take whatever kind of break
you think is fair and we'll come back and I'll be live then. Excellent.

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