My Mantra

Helping brands and leaders be more influential
by embracing their humanity and personality.

Reviews Archive

7 Ways Millionaire Self Help Gurus Make More Money Than Social Media Experts

Last week no one cared what my Twitter name was – and I was thrilled about that.  At dozens of social media centric events, the Twitter or Facebook or LinkedIn or Pinterest question has become the de facto proof of purchase. People write their Twitter names on their nametags. They try desperately to distill their own social credibility into a virtual chest tattoo. Like many others, I’ve lost my patience for that.

Being social media famous just doesn’t mean that much anymore.

On April 3rd in San Diego, I joined a room full of speakers, coaches and self help gurus for the first meeting of the The Coaching Speaker Association. Dreamed up by Ted McGrath, the creator of the popular “Never Be Closing” series – it was a moment where dozens of competitors gathered in a room to share insights about their businesses, making outsized profits, and the sometimes embattled self help industry as a whole.

Through a day filled with conversations – I took pages of notes listening to people who have become legends in their own categories, by helping others achieve their potential. Yet if you are tempted to dismiss the event as a vegan campfire for feel good emotional hippies, you’d miss one of the most important lessons I took from the entire event.

Coaches and speakers are among the most gifted sales people you will ever meet.

They are often masters of emotional selling and increasingly are applying this expertise to online marketing to sell information training products, live workshops and seminars. Here are just a few of the things anyone can learn from what they do and how they do it:

1. Never take questions at the end of a pitch.

This was the most counter intuitive piece of advice I wrote down from the event, but it makes sense if you think about your pitch as an opportunity to sell something from stage. The last thing you want after making a great offer is to have some people ready to buy, but needing to wait while you take that time to answer questions. Instead, if you can proactively answer questions earlier in your pitch, and even take them throughout (as long as it is not too disruptive), that may be a better strategy.

2. Be your own biggest expense.

One staggering fact I encountered over and over was just how much real money all the people in the room spent in the room every year on their own learning and personal development. From attending thousand dollar getaway-style conferences to buying learning materials from one another – it was fascinating to see just how much time, effort and budget was dedicated to personal improvement. It was the ultimate proof of the old cliche of spending money to make money.

3. Competition is irrelevant.

Putting 100 people in a room with similar business models and target audiences might seem like a recipe for disaster – but instead the event worked for one simple reason: everyone looked at competitors as potential partners. In the online learning space, commission based sales are a fact of life. That means that being an “affiliate” that drives traffic to a competitor, could actually net both you AND your competitor serious revenue thanks to generous revenue sharing. As a result, everyone at the event was seeking “JVs” (Joint Ventures) far more than sales.

4. Hire adults and make them run.

During the day, one of the speakers on stage shared her surprising biggest mistake as an entrepreneur: firing people too slowly. Zappos is famous for creating a cash incentive to inspire people to quit, for just this reason. For entrepreneurs, getting stuck with the wrong hire can be a toxic influence. Instead, hiring smart people and then giving them the incentive to start running the company without a micromanagement oversight is the key.

5. Don’t hide behind email.

We are all tempted to shoot off an email and then sit back in our own indignity when someone doesn’t reply in the timeframe we want. Instead, multiple people at the event all shared the same understandable bottom line: there is no substitute to picking up the phone and calling. In order to even pull off the event with such a high caliber of attendees, Ted McGrath had to personally call and convince more than half the people in the room. Without the call, they probably would not have shown up.

6. There is no budget.

At a number of Internet marketing events lately, I have heard this mantra repeated a few times. It seems like an impossible point. Of course we need budgets, right? But imagine that you are doing promotions for direct sales. You know that the cost to sell a single product is $3 consistently, and every product sold nets you $4. That means you make $1 on EVERY promotion you run. As long as the rate remains consistent, there is no budget for this kind of promotion, because you always make more money than you spend.

7. Sell just one thing.

This was probably the most “obvious” piece of advice I took away from the event, but still worth sharing because of how often and consistently it seems to get forgotten. When buyers are confused, they don’t buy. The ideal solution is to give people simpler options. Make it easy for them to choose by giving them a single desirable call to action.

Those were just a few of the sales lessons I took away from an amazing gathering of smart folks. It actually also reminded me of a presentation I put together several years ago on why infomercials work so well (embedded below). The lesson from the presentation is the same as the one I took away from the event last week. Ultimately, great sales is about understanding human motivation and making an emotional appeal to inspire action.  The better you understand people, the more money you will make.

5 Marketing Lessons From Infomercials from Rohit Bhargava

2013 Trend – Shoptimization

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What’s the Trend? Technology helps optimize the process of buying everything from fashion to medical prescriptions. As consumers become more conscious about what they buy, where they buy it, how much they spend for it, and how much time shopping takes – retailers and app-makers are discovering that the ultimate competitive advantage may come not from what you sell, but…Read More >>

How To Spot A Trend: 7 Social Media Trends That Matter In 2013

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There has been a single pink folder on my desk since January 15th of this year. That day matters to me for two reasons – first because its my birthday, and second because it’s the day when I start an empty folder with the intention of collecting ideas for my year end trend report. Then throughout the year, I steadily…Read More >>

How To Interview Anyone: 5 Lessons From Amazing Interviewers

How To Interview Anyone: 5 Lessons From Amazing Interviewers

One of the most popular forms of content creation today is interviews … but great interviews take a lot more than just coming up with a list of questions.  The sad fact is, not everyone who creates interviews to post online is actually good at doing them. So you might wonder, what do the people who ARE really good at…Read More >>

5 Marketing Lessons From Uber (The World's Best Travel App)

5 Marketing Lessons From Uber (The World's Best Travel App)

Several weeks ago I was standing on a street corner in New York. (This is not the sentence I thought I'd start this post with, but go with me …) After unsuccessfully trying to hail a cab, I decided to try out an app I had heard about called Uber. I had heard it was useful for those kinds of…Read More >>

How To Manage 1.4 Million People – 5 Questions with YUM! Brands CEO David Novak

How To Manage 1.4 Million People – 5 Questions with YUM! Brands CEO David Novak

No one writes a business book about leadership to help hungry children. Leadership, we usually read, is about having a grand vision. It is about the touchdown pass. No one wants to hear about the months you spent in the summer working out in the weight room. In our quarterly culture, fast results are the only thing that matters, and…Read More >>

I Like You, But Not That Way: How Retailers Lose & Win Back Customers

I Like You, But Not That Way: How Retailers Lose & Win Back Customers

"3D Catalog" is a phrase you will see in a few articles about the retail industry these days. Unfortunately, it's not a cool new interactive augmented reality thing. This is a term that describes the fears of many real life retailers who are afraid of becoming a place where consumers just go to touch and feel products that they will…Read More >>

What David Ogilvy Can Teach You About Good Manners

What David Ogilvy Can Teach You About Good Manners

There are some things in business that no one really teaches you. It is the "instinctive" part of being a professional, and it mostly refers to little things. A powerful reminder of how important those little things are comes from the founder of the brand I work for, David Ogilvy, who said: "I always use my clients' products. This is…Read More >>

Characters Worth Celebrating

Characters Worth Celebrating

For a little less than a year, I have been contributing technology articles to an interesting blog launched by the USA Network (a cable television network) to celebrate people and organizations who are having a positive impact on American culture. Along with fellow writers who focus on all kinds of topics from food to music – my focus has been…Read More >>

Gilty Secrets: 10 Marketing Techniques From Today's Hottest eCommerce Site

Gilty Secrets: 10 Marketing Techniques From Today's Hottest eCommerce Site

To say that Gilt.com is on fire may be something of a understatement. The site, which features daily special sales of luxury products at discount prices is on track by some estimates to pull in $400 million in sales for the 2010 calendar year. The growth of Gilt.com has coincided with a shift in how many consumers are thinking about…Read More >>