by admin | Mar 13, 2019 | Podcasts
David Meltzer is the Co-Founder and CEO of Sports 1 Marketing and S1Media House. Two-time #1 best-selling author and Top 10 Keynote Speaker by Forbes and Entrepreneur, he’s also an advisory board member to over 45 companies and charities.
In this podcast, David shares how financial hardship in his family inspired an entrepreneurial spirit in his childhood. By his early 20s, David had risen to the top of his game in the business world, becoming a millionaire. He lectured around the globe and saw rapid success in every business project he touched.
In his 30s as a multimillionaire, he went on a rapid downward spiral that ended in bankruptcy. It was only then that David realized, in order to revive and thrive, he needed to systematize what had made him successful in the first place. He has since emerged to realize even more rewarding heights of success in business and life.
He shares with us his sales lessons, negotiations stories, and the golden rule of entrepreneurship which people need to stay in business. Today, he invests in companies and in people by executive producing and hosting Entrepreneur’s original show, Elevator Pitch, with nearly 40 million views. In addition, he also hosts the Top 5 business podcast, The Playbook.
David Meltzer has created a platform that uses four overarching principles—gratitude, empathy, accountability, and effective communication—and these principles have allowed him to communicate and mentor everyone from college students to c-suite executives. These four principles in everyday practice allow David to live by his mission to “make a lot of money, help a lot of people, and have a lot of fun.”
In this episode you’ll learn:
- 1:05 How David’s childhood impacted his career success
- 3:36 David’s first entrepreneurial experience as a child
- 8:06 The show Elevator Pitch and important sales lessons
- 10:33 The universal law of three no’s to close deals
- 11:40 How to use our time for calls and meetings in a productive way
- 16:00 The best lesson that anyone could ever learn about money
- 22:52 A business model to generate revenue
- 26:30 One of David’s favorite negotiation stories
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by admin | Mar 12, 2019 | Podcasts
What’s the difference between sales and marketing? If you’re not sure, then chances are, you might not be making as much revenue as you could.
People use the term “marketing and sales” because they don’t know the difference between the two and lump them together. So let me define it once and for all.
Marketing is anything you do to attract and keep a customer. Sales is what you do to convert a lead, a customer, into sales or money. They are two very distinct functions of a business.
You’re In The Marketing Business
Peter Drucker, known as the “Father of Modern Management” said it best, “The purpose of a business is to create a customer.” Therefore, the two most important functions of a business are innovation and marketing. They are what produce results, everything else is cost.
The way most entrepreneurs operate is they are what I call the doers of the business. They are doing the work, they are providing the service, they are making the product, and whatever time and energy is left is put into marketing. That is the wrong thinking.
You’re in the business of marketing your consulting service, your video filming business or your new product. Whatever it is, you are in the business of marketing.
Shifting Your Focus and Identity
Your focus is always on the acquisition, the retention, and the maximization of the value of a customer. That is your role.
When I ask entrepreneurs about their marketing budget, they give me a number between 1 to 10 percent. Or they might say something even worse.
They might tell me they rely on referrals. But what they really mean is they hope to get referrals. When I hear that, I know they’re not that serious about growing the company.
Marketing should be your business. Unless you have a predictable and consistent way of acquiring a customer, you don’t have a business, you have a hobby. You’re not a serious entrepreneur.
Make that shift, knowing that if you want to grow your company, create wealth, or build your business, you absolutely need to know that you are in the business of marketing.
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by admin | Feb 28, 2019 | Podcasts
Have you ever set a large goal only to give up after two months? Or maybe you find that you’re getting to your goals too slowly?
Well the way I see it is this: if you’re frustrated with the slow pace of things, then there’s two reasons why things are not working for you.
If It’s Not Working, Your Goal Is Not Realistic
First, you want to look at the reality and the vision. Is your vision realistic? Let’s say you’re making $50,000 a year right now and you want to become a millionaire in three months.
Maybe you can do it, but more likely you’ll be disappointed. When you’ve got two months left and you’re still making $50,000, you’re setting yourself up for failure. Let’s revisit your vision again.
Every single day, get closer to your vision by moving forward. How do you move forward? That leads to the second thing.
What To Do To Improve Your Skills
As part of your reality check, take a look at your current skill sets. Let’s say you want to win a basketball championship. Everyday, you’re dribbling the ball, running around the court, but you’re frustrated you haven’t won the game yet.
But have you been upgrading your skills? Have you been working on your training? If you’re not working on what you need to win a championship, all the dribbling and running will get you nowhere. If you’re not improving, then you’re just keeping busy and that won’t win anything.
So work on improving your skills, your jumps, your defense. Then, when your skills are better, you can bring on some good team members. You can start winning some small games and work your way up to the championship. And then the time will come when you can outperform your opponents.
You win the game and your vision becomes a reality. So don’t just keep busy doing mindless activity until frustration hits. Have realistic expectations and work on your skills. That’s how you make reality and your vision one and the same.
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by admin | Feb 12, 2019 | Podcasts
What if your favorite food is hamburger because it’s the only food you’ve ever eaten?
If that’s the only food you’ve ever tried, then how do you know what else is out there?
How To Decide What To Focus On
This is the same as asking yourself what career you want if your experience is limited. Maybe you’ve only been a student all this time. Maybe you know you want to get into business so you’ve tried all kinds of things: e-commerce, affiliate marketing, and Amazon, and all were failures.
It’s okay to try many things that don’t work because you realize what you don’t want. I started and failed at 13 businesses before having my first success because I said “yes” to a lot of things.
So first find out what you don’t want and what you absolutely can’t tolerate by saying “yes” to many opportunities, knowing most will fail. Most will be a waste of time but that’s how you learn.
When you find out more about your likes and dislikes, your strengths and weaknesses, that’s when you learn how to stay focused. Highly successful people stay laser-beam focused.
To compare this with the dating world, when you’re first dating, seeing different people, that’s when you’re finding out what you like and don’t like. Then you get into a more serious relationship when you find the right match. You become more selective.
A few years pass by, and when it gets very, very serious with your significant other, you decide to get married.
How To Stay Focused In Business
It’s the same in business. To develop a sharp focus in what you do, first, you say “yes” to a lot things. You watch videos, go to events, buy courses. Then you find out what you excel at, and you start to hone those skills. As you’re honing those skills, you eliminate the other options and distractions. That’s when you learn to say “no”.
With all the social media presence out there, you will continuously be pitched a lot of opportunities. You could easily have a shiny object syndrome, when you start to chase every exciting opportunity out there. But you don’t.
You can feel it in your gut that you’ve found what you want to pursue, so you put your energy into saying “no” to all distractions. You don’t look for a backup plan, in case your chosen path doesn’t work out. That’s how you stay focused. You don’t fear what won’t work. You don’t make a plan B.
So learn to say “yes” if you’re just starting out, and learn to say “no” if you’re in a later stage. That’s when you know what you want, and you don’t get distracted because you can stay completely focused.
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by admin | Feb 5, 2019 | Podcasts
Remember when you found out someone paid thousands of dollars for the ugly painting hanging on the wall?
You’re wondering why someone would pay that kind of money for horrible artwork. The answer is they saw the value.
This is the psychology behind high-ticket sales:
As a business owner or a salesperson, you’ll find the number one reason people don’t buy from you is not money. They say it’s money. But it’s not money. Sure, they’ll tell you that they can’t afford it, but in reality money is not the issue.
Do you want to close more sales ? Click here to talk to one of the leaders on my team who’s an expert in this area.
The real issue is they don’t see the value in what you offer. If they don’t see the value, it’s not their fault, it’s the fault of the seller.
Here’s a story that explains that. You may have a similar story. I helped out a gym in Toronto with Facebook ads, and they got really good results from paying very little money.
For their next ad campaign, I told them the regular price for my marketing services. The problem was, I gave them a free trial the first time. So for the second campaign, they said, “Wow. That’s expensive.” First, it was a free trial, and then they had to pay $2500 a month for marketing?
There was a disconnect for them. They got free services from me the first month. So why would they have to start paying now? It didn’t matter that I showed them I could do the work. They weren’t prepared to upgrade.
The real problem is, if you can’t sell yourself at your real price point, lowering your price won’t make a difference.
If you use dating as an analogy, it’s like saying, “I haven’t been out there.” You think you’re not attractive, so you just go on a bunch of cheap dates and you’re not happy.
It’s really about supply and demand. So don’t lower your value because there isn’t a demand. Don’t be desperate enough to take any customer, even if they aren’t qualified.
When dealing with high-ticket sales, there are a few questions you need to ask about your potential buyer:
- Do they have the ability to pay and the desire to pay for your product or service?
- What is their perception of you in the marketplace?
How much they trust you depends on how much they know about you and your business.
When you’re selling high-ticket products or services, and asking for thousands of dollars, your potential client wants to know how much money you can make them. If you show them your value, you can sell them at your price point.
Do you want to close more sales? Click here to talk to one of the leaders on my team who’s an expert in this area.
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