How to Build Relationships to Build Your Business
Issue #2254
- WEALTHY: Don’t give up on Canada like I almost did (Andrew Gordon)
- HEALTHY: Lessen one side effect of menopause with this food (Dr. Jonny Bowden)
- WISE: Theodore Roosevelt on getting along with people
ALSO IN THIS ISSUE:
- The "free-to-fee" strategy for creating money-making relationships (Alex Mandossian)
- 5 ways to get free media exposure (Peter Fogel)
- It’s Good to Know… how to find your car in a huge parking lot (Charlie Byrne)
- Add "incarnadine" to your vocabulary
Imagine if There Were Only 6 Numbers to Choose from When Buying a Lottery Ticket!
Wouldn’t that be great?! Of course, the fewer the choices, the more likely your chance of success, right?
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Lightning Doesn’t Strike Twice
I vowed " Never again !" I let the Canadian government stab me in the back once, and I wasn’t going to let it happen again. That was over a year ago. I was hopping mad - along with hundreds of thousands of other investors who had invested in a certain group of companies. Two of my favorite investments had dropped by more than 10 percent.
Now I’m willing to eat my words.
The government dropped a bombshell on this group of Canadian Energy Royal Trusts by threatening to take away its tax privileges. These companies are also known as Canadian Oil Income Trusts, Canadian Royalty Trusts, and Canadian Oil Royalty Trusts. They pass through all of their earnings generated from oil and gas wells to the trust holders (the equivalent of shareholders) in the form of some of the best dividends on the market.
When the government issued its tax plan, it shot its wad. And now there’s nothing else it can do to harm these companies. If it changes its mind and withdraws its intention to tax them beginning in 2011, their share prices will zoom up. If it doesn’t change its mind, the prices are unaffected. You see, the anticipated change in tax status is already baked into the price.
A couple of Canadian trusts to consider: Harvest Energy Trust (HTE ) and Pengrowth Energy Trust (PGH ).
[Ed. Note: ETR’s Investment Director, Andrew Gordon, is the editor of INCOME, a monthly financial advisory service that uncovers income-generating stocks that promise safety (first and foremost), along with much-higher-than-average profit potential.]
"The most important single ingredient in the formula of success is knowing how to get along with people."
Theodore Roosevelt
How to Build Relationships to Build Your Business
One of my biggest business assets has been the "big-name" relationships I’ve created and nurtured over the years. In fact, I consider this to be so important that I’ve created a business-building strategy around it.
Here’s how I did it…
About four years ago, I decided I wanted to do a joint venture with Jack Canfield. So I started building a foundation for that relationship. One of the first things I did was buy a domain name - AskJackCanfield.com - to give me a way to approach Jack to do teleseminars. (I’ll explain this in more detail in a few minutes.)
Fast-forward four years. In that time, I had done a few teleseminars with Jack. Meanwhile, the movie The Secret, which includes extensive interviews with Jack, had just come out. And that gave me an idea.
I went to Jack’s estate in Santa Barbara and said, "You know, because of The Secret , people want access to you. Let’s give them access for free - via teleseminars." Then I explained how we would make money by doing it.
Let’s say you’re one of those people who would like access to Jack Canfield. You just go to AskJackCanfield.com. This is a one-page website with a space for people to submit questions. Jack Canfield answers those questions during a free teleseminar the first Wednesday of every month. (I pose the questions to Jack myself.)
Even though the teleseminars aren’t directly making money for Jack and me, they are still good for us. They’re great for me, because I’m interviewing Jack and getting exposure. They’re good for Jack, because the questions people submit are generating more fodder, more information for his future books. Plus, each call can be repurposed into products we can sell.
For instance, we record each teleseminar and have someone transcribe it. Jack uses the transcripts to put together little "simple truths" books. These little books are about 50 pages each and have a CD inside - and there are 12 of them throughout the year. You get to hear Jack, who is fun to listen to, and you get to read him, as well.
Let’s go back to what happens when you go to AskJackCanfield.com. You ask your question. Then you are immediately redirected to a new page on the website - the Intermediary Paid Page (IPP). The IPP is between the page where you ask your question and the "Thank You" page, which has the call-in number for the teleseminar.
On the IPP page, you see me pointing down to a big, juicy $10 button that says something like this: "Look, we have four times as many people who have registered for the call as we can handle, and that is the absolute truth. But if you can’t get in, that’s okay… because you can listen to this call for life for $10."
But there’s more. If you decide not to pay $10 to get unlimited access to a recording of the teleseminar (a downloadable version), you have to click on a little tiny button that says "No thanks." You see, people don’t like to say "no." But we’re forcing them to say "no" if they want to get the call-in information without paying. So we get people who pay $10 for unlimited access to the teleseminar… just because it’s psychologically easier for them to say "yes."
Let’s say we get 4,000 people to attend the teleseminar, and 1,000 people to pay the $10. Not bad. $10,000 for a 70-minute session.
How much of that $10,000 do I get? Zero.
Why? Because this is my opportunity to pay Jack Canfield for promoting my products to the people on his customer list. Remember, my goal was to get Jack Canfield to be one of my joint-venture partners. So, four years ago, I started to plant the seeds of such a relationship - with the domain name, the free teleseminars, the $10 charge for unlimited access to the teleseminars. And now I can give him a big reason - the $10,000 - to be my partner.
If you were Jack Canfield, wouldn’t you be thinking, "Hey, this is a relationship I can’t afford to miss out on?"
But that $10,000 isn’t the only thing I do to make sure Jack wants to have a relationship with me. He can keep track of all the money he’s making from customers who come to him via his partnership with me.
For one thing, Jack can start selling back-end products he’s created based on ideas he’s gotten from the questions people ask. And he can repurpose the teleseminars into other products (like I mentioned above). He sells those products through a special link that he gives out during the teleseminars. And when teleseminar attendees use that link to buy Jack’s products, he knows where the orders came from. He can say, "Hey, I just made $5,000 in back-end sales. And $4,500 of those sales came from customers who attended the Alex Mandossian teleseminar."
Plus, the morning after each teleseminar we send a "Wow" e-mail to the people who did not buy the $10 unlimited access offer, and we give them another chance. ("Wow, what a call. If you decided you didn’t want unlimited access to it for $10 then, now is your chance.") Then, six days later, we send out a "Last Chance" e-mail. ("This is your last chance to get unlimited lifetime access to the teleseminar for $10.")
You can use a similar step-by-step strategy to show a "celebrity" that you want a joint-venture relationship with just how valuable you can be to him. Then, once you’ve proven you can make him money, you can ask your celebrity to market your products to his list. It’s likely that his list is much bigger than yours - which means it has the potential to make you a boatload of clams. For instance, Jack has become one of my super-affiliates for my Teleseminar Secrets and has sold many of my training programs to his list.
This is a "free-to-fee" strategy. And it takes guts, because you won’t be making money right away. You need to be able to hold out for the big payoff down the road.
Think of yourself as a stalk of bamboo. When bamboo is first planted, you don’t see anything above the ground for three years. After three years underground, a bamboo shoot germinates. Then, from the moment it sees sunlight, it’s full-grown in 60 days.
That’s what happens with this strategy. You’re planting little seeds along the way, building the relationship, building your value. And then, bam! You’ve created a strong bond with someone who can help you earn money for life.
[Alex Mandossian, CEO of Heritage House Publishing Inc., has generated over $233 million in sales and profits for his clients and partners since 1991. To learn more about Alex’s teleseminar marketing strategies please click here.]
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How to Talk to Reporters for Optimal Results
By Peter "the Humorator" Fogel
If you’re a business owner, expert, author, or speaker, free media exposure is a good way to get your name in front of thousands of potential clients. To make the most of it, you must understand how to deal with reporters. They are, for the most part, overworked, underpaid, and underappreciated. They’re also always under the proverbial deadline "gun."
Here are five ways to get on a reporter’s good side during an interview… and make the most out of this opportunity for free advertising.
1. Know the rules.
The reporter knows you want to pitch your product, service, or website. But his goal isn’t to give you free advertising. He needs information for his readers, a compelling story to sell to his editor. You are trying to enter into a symbiotic relationship with him. It’s the old "You wash my back and I’ll wash yours" deal. Give him what he wants, and he’ll return the favor with the media exposure you want.
2. Ask the reporter how you can make his life easier.
Would he like to give you a list of questions? Or should you come up with your own? And be pithy in your responses. Don’t give him a brain dump on every question. That will take a lot of editing for him to find the "meat" of your answer.
3. Keep the butt-kissing to a minimum.
If you’re familiar with the reporter’s work, compliment him on it… then move on. Focus on the information you want to convey to his audience.
4. Be prepared with "bridge" statements.
If the reporter starts getting away from the points you’re trying to make, re-direct the conversation with "bridge" statements. ("However…" "There’s something else you might consider…" "Allow me to put that into perspective…")
5. Don’t be evasive.
When the reporter asks a tough question, don’t say "No comment." (Sounds like you’re under indictment.) Say, "Well, I’m sorry I can’t really speak on that subject right now." Or, "Gee, let me do some more research on that and get back to you shortly." Avoid saying anything "off the record."
Remember: Always remain calm and cool during an interview. At the end, thank the reporter, and ask him how he would like to be contacted in the future if you have an idea for a story. And be sure to tell him to call on you if he ever needs help in your area of expertise.
[Ed. Note: Peter Fogel is a copywriter, speaker, author, and creator of Peter "The Humorator" Fogel’s Guide to Effective Public Speaking . For more information on it or his FREE 7 Days to Effective Public Speaking e-course, click here.]
Flaxseed May Lessen Hot Flashes
Millions of women suffer from occasional menopause-related hot flashes. For postmenopausal women who are not on hormone replacement therapy, there’s help. And it’s as close as your grocery store.
According to a new study at the Mayo Clinic, flaxseed appears to lessen both the severity and the frequency of hot flashes. The researchers studied 29 women for six weeks. The women took a daily dose of only 40 mg of crushed flaxseed (flaxmeal). The flaxseed decreased hot-flash scores by 57 percent and reduced their frequency by 50 percent.
Lead researcher Sandhya Pruthi, M.D., noted that many participants experienced quality-of-life improvements. She added that flaxseed seems not only to alleviate hot flashes but "also appears to have overall health and psychological benefits."
You can get flaxseed at health food and grocery stores everywhere. One highly recommended and reliable brand is Barlean’s Forti-Flax.
[Ed. Note: Dr. Jonny Bowden is a nationally known expert on weight loss, nutrition, and health. He’s the author of the new book The Most Effective Natural Cures on Earth. For more information, go to www.jonnybowden.com . To read more of his articles on healthy living in ETR’s natural health e-letter, click here.]
It’s Good to Know: How to Find Your Car in a Huge Parking Lot
By Charlie Byrne
Isn’t it fun when you see new technology come along and solve an old problem?
Take, for example, the classic case of forgetting where you parked at the airport or at a big shopping center, arena, or stadium.
Last Saturday evening, I pulled into the lot at Florida ’s Bank Atlantic Center , home of the Panthers hockey team. As I stepped out of the car, a man pulled in next to me.
He got out of his car, opened his cellphone, and snapped a photo of the sign on the nearby pole telling us we were parked in "Section 26A."
Much easier than the old "find a pen and scrap of paper" technique!
The World Is Shrinking… and the Opportunities to Make Money With This “Global” Economy Are Nothing Short of Staggering! If You Know How…
Imagine how well your business would be doing if you could slash your costs by more than 49% while boosting your profits by more than 57%.
You can do it… if you know how.
Today, as a matter of fact, all the Fortune 500 companies are doing just that, and they’re posting record-breaking profits by taking advantage of the “Global Economy.”
Unfortunately until now, only big companies could even think of doing this. But not anymore. Now it’s your turn.
Click here to find out how you can put the “Global Economy” to work for you.
The global borders are shrinking… The world’s becoming a smaller place… Will you just stand there watching opportunity go by or will you seize the moment and put the “Global Economy” to work for you? Click here to read more…
Word to the Wise: Incarnadine
"Incarnadine" (in-KAR-nuh-dine) is a fleshy-pink or blood-red color. As a verb, it means to make something that color. The word is derived from "carnal" (pertaining to the body or its appetites).
Example (as used by Shakespeare in Macbeth: "Will all great Neptune ’s ocean wash this blood / Clean from my hand? No, this my hand will rather / The multitudinous seas incarnadine, / Making the green one red."
[Ed. Note: Become a more persuasive writer and speaker … build your self-confidence and intellect … increase your attractiveness to others … just by spending 10 VERY enjoyable minutes a day with ETR’s new Words to the Wise CD Library.]
Michael Masterson
Copyright ETR, LLC, 2008