What i uh deeply respected and always appreciated about jay is like me. He deals with all of them right i deal with you know a real estate agent. I deal with uh, you know uh, two female ceos that i'm coaching and i've invested in one of them is north of a million. One of them is like basically at zero.

Almost in a freemium model, the same six rules apply to then the conversation i have with the ceo of a 6000 sales person. You know 75 million dollars in company dollar business. The same six rules apply to that person as it does to the person that says. I'm gon na drive uber and also have a job, so i want to walk you through the six and my intention is kind of two-fold a i want to just i want to.

I want to drop these these sort of pebbles of thought into your head. Almost sort of metaphorically, like if your brain was sort of this calm, beautiful lake, i want to throw a pebble, maybe a rock, maybe that entire bottle of water boom right into it and see the ripple effect of that. One idea and those ripples by the way is new clients. It's new revenue, it's new growth.

Maybe you get employees, maybe maybe just maybe it sparks the fire of ambition in you and allows you to take your business to that thing that everybody talks about the next level. Remember it's get to a million million to five five to ten ten to twenty five right, twenty five to fifty fifty two hundred and then it really gets bananas. So i wan na talk to you about the six. As i said, two intentions, one to plant those seeds to drop those pebbles into the pond of your mind and really have you think through you know? How could i do this? Not could i? How could i do this right? Like can i take this on? What would this be like for me? Do i have that ambition right? What are all the things i can do in my business, because you know maybe i'm in a direct to sales business.

Maybe i'm in a software sales, maybe i'm building an app. Maybe i own a hair salon like businesses, businesses, business is business right, like all businesses, innovation and marketing, all businesses, finding clients and keeping clients like it's that simple, but these six apply to all of them, including some of the biggest companies on the planet that i Get to deal with that some have gone public and some were already public and some of them are always going to be private and they're, some of the biggest companies some of the biggest brands. The point is the same six, so i want to spark the imagination and give you some tools and then secondarily, i want to honor my mentor and someone that i call friend jay abraham as a constant, thank you and reminder for his ability to plant these seeds. In me and allow me to do the same so here we go, you ready, there's six things you can do to drive your business.

The first are obvious. The three he calls advance number one. Is you increase the number of clients now that should sound like the blind flash of the obvious uh and it is and of course, my little side note next to that is also the discipline of tracking and measuring, where the clients come from so number one. Is you increase the number of clients you want to grow your business hey if you're an uber driver you need.

You need like clients all the time right, no down time as an example. Uh, if you are, you know the guy that cut my hair forever right. Daniel who decided he wanted to be an artist in the afternoons. True story wrote about it in life by design.

I actually referred to him as like he was my therapist right, because he was just one of those kind of guys, but he remember him saying to me look tom. What i need is i i need to make a certain amount of money for my hair business. Like cutting hair dyeing hair, all that good stuff to then go take the time to do what i really want to do, which is my art in the afternoon, and you know fast forward dan if you're listening this man, i'm so proud of you because now he's He he could do 250 to 500 000 in commissioned artwork every year. But what he said to me was i've got a time constraint on my business and i said hey what, if you did the second principle, which is increase the average transaction value increase the average transaction value and you increase the number of clients, so transaction value could Be price like what do you charge fee if you're in a service, business or commission, business and or both? And you know, of course, when you say this to someone like daniel who is a brilliant artist? Oh tom, you don't understand my business, it's not going to work and then i said well, look what, if you for example, said i'm only going to work with these types of people, so you're going to attract a different clientele who wants to get their hair cut? Listen to this at five o'clock in the morning, i'll be your first customer and i'll refer.

You people that are busy like me that are going to the gym doing all the stuff early. You know we don't have time to go to the you know to go. Get our haircut in the middle of the day and i don't want to do it at seven o'clock at night and i don't want to do it on the weekends. I want to do other things and he said there's just not enough people like that.

I said, let's just try fast forward, he raises his fee, he switches his hours and you know what it took him about 18 months and all of a sudden, like brenda. All of his clients came in early in the morning and then basically he'd take a little power nap. Do his thing maybe go to the gym and then he'd do his art, which somehow miraculously he could do his art until three o'clock in the morning, because it was his absolute passion and he was able to maintain the revenue he needed by getting the right clients. Increasing the average transaction value and more clients, it's always the combination, the two in my opinion and voila.

Then he gets all the revenue on the art. So the first two: how can you increase the number of transactions or clients? How can you increase the number of clients and we're gon na i'm gon na? Give you a whole bunch of ideas to think about number two? How can you increase the average transaction value if you're in the service business? Can you raise the prices? Can you raise the prices when everybody else is dropping prices? Could you increase the margin you make so the price remains the same, but you can increase the margin we'll get into that or could you do combinations of both right? If you're in the sales, business and there's a commission and every commission seems to be negotiable, can you be the one that creates such a massive degree of separation and provides so much more value that the fee that you charge to the customer becomes not an issue Where, when all the apples are exactly the same, when all the apples are exactly the same i'll take the inexpensive one right, because that's what consumers do so those are the first two and, i hope, already you're thinking whatever business you're in. So how am i going to increase the number of clients i get? How am i going to do that? There's so many ways to generate clients? How am i going to do it and then how could i increase the the transaction value right like if you were a uh someone in the mortgage business, you could say how can i increase the average size of the loan right? So do you have direct to consumer business? Do you go through agents? Do you go through builders right, there's all kinds of different ways. You can play that if you're in the service business, if you're a coach, you can say how do i increase my fees right or how do i increase the longevity? How long the customer is with me? That's another way to look at it right.

So there's there's just a myriad of things. You can do if you're willing to take the time to think differently. Number three. He said you always want to look for ways to increase the frequency of how often your customers purchase.

Now you know if you sell homes and the average consumer only buys and sells real estate once every 10 years. You might say, oh well, i can't do that. One well really! Well, what, if you said to yourself look my goal is every time i sell a house, i want to sell them an investment property in the next two years. Well, if you did that, then you've achieved the mission right, even if it was only let's say you did 20 transactions and you only got 10 of your customers to then buy a rental property in or out of your market.

Whatever works for you, just as an example, you've now increased the frequency of their purchase right. If you um, i like records right now. It's funny like i don't have anybody outside of maybe amazon and a couple like you know, old record stores that i go to, but if there was actually somebody out there who sells records like i would buy just about anything, you can find me on david bowie, Iggy pop lou reed led zeppelin the beatles and i would love i'd, spend more money by the way on anything that was original copy uh. I would spend a fortune on first edition books by uh brian tracy, earl, nightingale uh.

You know anything by napoleon hill on and on and on right like like, if you're in the sales business. If your job you got to find out what it is, your customers really want, and if it's in your wheelhouse to deliver that deliver that right. So often we settle for they come in and they i'm using the example of buying a house again. It's so easy, oh my god, they're writing it off.

They want to buy houses. So great, okay, write it up, don't say anything too stupid close the deal. Ah, commission, instead of saying wait a minute: what is the lifetime value of tristan and stephanie who just closed on their new house and have now been in for a couple months right like if, if, if i was their agent, i'd already be saying, congratulations you guys Bought a place in southern california, the average appreciation over the last two decades right and i'm using easy math you bought a 400 000 place. The average appreciation is seven percent per year, which means in the next five years.

If everything goes exactly the same, your home value should be from here to here. You put this much money down. That means you have that much equity. So in seven years we should plan to pull some of that money out and go, buy an investment property or sell the property and go buy a duplex.

This time see if we start thinking about increasing the number of clients, if we start thinking about increasing the average value of the transaction, and then you start increasing the frequency of how often somebody's works with you just there alone, you could probably already with those three Little pebbles in your beautiful brain and maybe a white board or a yellow, notepad or, however, you take notes right, evernote, whatever you do. If you just sat for an hour or two and said okay, my business is generating a hundred thousand dollars a year or it's generating a hundred million dollars a year. How am i gon na get more new clients? What are all the different ways and i'm going to get into this in depth? What do you already do and what could you do right? That's really the thing most people you're doing exactly what you think you should do and you're missing out on tens of other opportunities, but i'm getting ahead of myself. How do i increase the average transaction value? How can i raise the price, raise the fees or do both and if you just sat there with that question and you just started writing and writing and writing and writing and writing and you didn't get caught up in the well.

That's never been done before. In my industry or wow, that'd be counter-intuitive to what my competitors are doing and you didn't allow yourself to talk yourself out of it. The magic that comes from asking the right question is just that magic right and then number three. How do i increase the frequency of purchase? I think that's like one of my most favorite things to figure out, like you know in in any business, especially um, think about like every um juice, company or health company that sells like products right and they actually do some other things which you're going to see.

But like if i get somebody to buy from me every single month and they're buying my protein powder as an example and they're spending 145 a month and they're on like auto ship like if i called them and said, do you ever find yourself running low on That what if we increased every other month, one additional bag that would cover the difference, so you always have enough protein right, something as simple as that right before you start talking about up sales and other products they could buy from you. The bottom line is this: i guess kind of tying off the first three before i give you the advanced ones is we got to think we got to be willing to slow down and think right. How am i going to increase the number of clients? How do i increase the average transaction value and then how do i increase? How often they purchase from me? And if you just do that, my friend you're going to grow your business? It's automatic it's guaranteed as much as the sun's going to go up and the sun's going to go down you're going to win now. Let's talk about the three advanced strategies that he taught me.

So the first thing he said to me is look once once you got those three and by the way, you're working on them all the time. You're, never stopping doing that right, you're, putting automation and processes in place to keep those things humming all the time. Creating a repeatable and scalable business, he said, then you have to ask yourself three more advanced strategies. Number four on the list is penetrate a new market, every 12 to 18 months.

So so, let's say my buddy steve, who started a juice company and i'm going to interview him on the podcast. So i'll save a little the details. He starts out with three locations in southern california. Basically, five minutes from his house, so he's got his three and he's like okay.

I figured this out we're making these juices. People are digging it. You know we have good marketing, we have good branding. People are coming in they're buying the juice i'm making a decent margin.

Each store is doing x hundred thousand dollars in revenue. You know he's not personally back there like pressing the juices he's figured out this sort of almost mcdonald's. Ask you know if you will solution now what new markets do i want to penetrate you with me? Where do i want to go from here right and all of a sudden? Now it's like oh, go to long beach, uh, let's go to los angeles! Oh, my god, let's go to phoenix and all of a sudden texas. This is exactly what starbucks did started up in seattle and they're like we're gon na go here and then boom.

Look at uber uber is the ultimate example of penetrator new market right and if you go back to the early days of uber - and i know anyone that's listening right - there was a while when, like we wouldn't even say the word uber, because of how many, how Bad, it was from an executive standpoint there, like literally we wouldn't say, oh, we should get an uber we'd, be like. Oh, let's take a lyft, even though we actually got in an uber, because it was just so bad, but go back beyond that right. Let that go instead, uber would say: okay, we're going to orange county california right and they had a launch plan. They would find the influencers.

They would find the drivers of all the different other limousine companies, because things like linkedin show you everything right and all of a sudden they're throwing parties and events at bars and locating like they figured out like early. How do we go and launch and penetrate a new market? You could be a loan officer in san diego and say: hey right now. I really only work north san, diego county, but you know what la jolla del mar the ranch point. Loma right, you could be, you could be a consultant and the way you've always done your business is face to face, and overnight say you know what if i went from face to face always able to shake their hand to zoom.

I can talk to you face to face and see you and still do all the same work, i'm just not in the same location. Thank you go to meetings, zoom and others. Technically, i can take on entirely different countries right with the same approach. It's the same conversation every 12 to 18 months.

You should be penetrating a new market, penetrating a new market by the way that could be. I always sell this and i'm adding this new market into it, and it could also be an entirely new market, but i'm getting to the next one, which is five every 12 to 18 months. You should be introducing a new product or a new service to your customer base or the market. Let me say it to you again: every 12 to 18 months.

You should be introducing a new product or a new service to your existing customer base or your new prospects or that new market or your existing market every 12 to 18 months. Think about, let's use starbucks as a wonderful example, and even though actually this is actually great, because if you pay attention, they actually pulled away from it and then modified it and refined it and switched it to something else. Remember when you'd walk into starbucks and there'd be cds to buy so so what were they doing right? The on the real estate side of of my soil mindset and training world right all my real estate, clients know, i would say: look you can stand or sit in a starbucks open up. Your laptop have your company logo on your laptop, your headset on act like you're, on the phone talking to clients or not or just sitting there doing, research or whatever you do, and meeting customers or whatever it is, and someone with your company name bad, someone's gon Na walk by and go hey man you're in real estate how's the market.

What's going on right because it's just everybody wants to know, and i'm like and the reason. Why is because more people go to starbucks in 14 seconds, then they will go to any one of your open houses anywhere in the world right and that's in in like four hours right. It's just it's bananas, the foot traffic that starbucks gets that bank of america gets at their banking centers equivalent to what walmart gets. It's just it's bananas right.

But what did they say? We're going to introduce new products and new services to all these people coming in and all of a sudden. They were selling mugs, they were selling cds, they were doing promotions and then i think they kind of stepped back from that. If you, if you remember that trend - and they said we're not going to sell cds anymore, that's kind of stupid right, because people aren't walking in to get a cd. So you know what they said.

Let's start selling cooler coffee supplies and they went hard on that. Right and you see them bringing out now, it's occasionally a t-shirt or this or that maybe is pete's coffee by my house, who's, an also national brand they're, bringing in natural and automatic like most likely to consume next products to their customers. Does that make sense? So like, if i'm at gulfstream and i'm selling jets right, i actually almost thought to myself, like i'm gon na sell parachutes, but that actually might make sense, but it also might stop people from buying the jet. But, like i'm, not gon na, say hey.

Thank you. So much for coming and buying our gulfstream airplane uh. Let me also talk to you about our life insurance policies like it just even though that does kind of make sense. It doesn't make any sense you with me on this, so you want to think about when you're introducing a new product when you're introducing a new service, does it have a natural fit? Is there a need in the market for your customer for you to bring that to so? If i'm cutting hair - and i don't, for example, do a beard trim or do the high end tight? I only do a more classic hairstyle or i don't do the um.

I'm, like you know, hair dyeing and whatever all those products are. You know like perms. I almost said, like i didn't look at my team like all that stuff right, like that's another example or you know what hey i own, my salon, the place that i go right, so big shout out to the den barber down in laguna beach. If i walk inside there, you know what they sell: hair gel beard gel all these things that are natural and automatic that i'm gon na go buy from amazon.com.

But i'm since i'm there and i just got my hair cut and they trim my beard. Yeah. Give me that stuff does that make sense, so penetrate a new market every 12 to 18 months right, go after a new market, every 12 to 18 months or introduce a new product or service every 12 to 18 months. That would be a natural fit for what you do and what your customers want.

What your database, what your list wants and then number six is, you should be buying or purchasing merging. However, you want to do it one of your competitors, business every 12 to 18 months. Now, that's the more advanced one right! That's the more advanced one, so think about super 73 right super 73. They need to increase the number of clients, always right.

Super 73. If you don't know that tristan and his wife are a part of this, like fantastic, like tribe, of people that ride these, like really cool electric bikes and they've, you know they've riven in new york city in san francisco and all over la and they live in Orange county and he shot videos on them and by the way they pay him commissions. Because of that i mean help. You buy the house like it's like they figured out increased clients by offering referral fees right as an example.

We're gon na get into all that stuff, but they've also increased the actual cost of the unit by adding on additional things that you can do to the bike so, instead of just getting the standard bike, oh what do you like leather seats, or do you want, Like the pleather seats, do you want suspension? Do you want these tires? Those tires. Do you want? You know some additional this, some of that right and all of a sudden, you walk in. It's totally counter to the company. Remember saturn the car company, like saturn, you walked into a saturn and you were like you're like hey, you know, can i get like a you know? Thousand dollars off like the price is 13 999 because we only build one car and there's no ups and extras.

It just is what it is right. You want to put bigger tires on it, you do it on your own. We don't do that here. Is the car tesla, interestingly enough, used to have on the s model the s the the p85, the p60, the p100.

The p100d - you know what they have now: the s model and the super fast s model. That's it they've simplified and actually brought the price down, because what did they do? They penetrated new markets? How about a truck? How about a supercar right, so they simplified to increase manufacturing to improve results if you're paying attention to tesla, i'm super long on that stock, and then they penetrated new markets. Let's go after the truck market, which is huge in the u.s right. Can you see if you start thinking about businesses that you're watching right, it's automatic right? Why did why did um? You know disney by pixar right disney bought pixar like if you actually um.

I forget the name of the online courses you can go to, but bob iger who's, the ceo who's, like an executive at abc, who now is running disney, which is a monster global enterprise, with how many it looks like it looks like ge, but it's entertainment, right Parks movies, this video yada yada they bought pixar because he very openly said they have better talent, more creative talent and they're kicking our butt, and it's too hard for me to find the talent i'll just go acquire him, buy a competitor every 12 to 18 months. Right he buys star wars, and what does he do? He increases the transaction value. He increases clients by creating younger star wars, related products to find younger people and that he hits all the rest of us with nostalgia products. This is business my friend, so if you're watching this right now and you feel like i'm bouncing all over the place - i probably am, but it's because, like some people have hobbies like surfing and skating like my hobby, is business like i'm fascinated by why somebody can Go from a hundred thousand dollars to a million to ten million and do it in five or six years because they look at this as a framework and they just find the nuance and the sequence and bam they skyrocket.

So that's the six.