(B) Jay Abraham: Growing A Business With No Money Or Customers
11.12.2019 - By The Science of Success
In this interview we show you how to grow a business with no capital, no product and no service. You will discover how to train yourself to spot outrageous business opportunities surrounding you in everyday life and we give you the strategies for building trust with your ideal clients and business partners. We ask what does it take to become GREAT? In your career, job, business, partnering, relationships we look at exactly how you can achieve greatness in the key areas of your life. All of this and much more with our guest the legendary Jay Abraham. Jay Abraham is founder and CEO of The Abraham Group, Inc., and is recognized as one of the world’s most successful marketing strategists, business innovators, entrepreneurial advisors, and masters of revenue acceleration. He has spent the last 30+ years solving problems and significantly increasing the bottom lines of over 10,000 clients in more than 400 industries worldwide.
How do you grow a company with no capital, product, or service?
What does it mean to mine, monetize and maximize relational capital?
Whatever your resource impediment or impairment is, someone else has that and you just have to figure out how to ethically leverage it
How Jay created 1.5mm in less than 6 months by finding arbitrage between products, services, and audiences
Find “strategic investors” - who else benefits from your growth? Complementary or related products, companies that benefit and naturally grow when you grow - and demonstrate to them that your growth is beneficial for them too - and then get them to help you.
How do you build trust in a business relationship? How do you get someone to introduce you to all of their clients?
Before you expend a ton of capital and time on a project - try to get some validation. The only validation that counts is dollars spent, not what a focus group thinks.
How to easily validate your business ideas without taking risk on the front end.
There’s a huge amount of IP that’s available to license from places like the Navy, the government, etc Find “parallel universes” that aren’t competitive and plug those opportunities in.
Never put anything at risk until you’ve de-risked and validated your product, service, or business model
What happens when a typical business is STUCK? Figure out what you’re stuck with.
How can you unlock an “unlimited business checkbook” to fund ANY problem within your business?
How someone got paid $1mm and a free Porsche to buy a Porsche dealership with creative deal making Spend time traveling outside whatever you do and whatever you’re interested in.
Study other businesses, study how other products and services market, how they sell, study topics that are outside your domain of knowledge.
How to train yourself to spot outrageous business opportunities lying around you in everyday life.
How you can make the “money connection” - you don’t need to be brilliant, but you have to have the right “sensors” turned on - and they only turn on when you broaden your understanding of what’s possible
What is Greatness? And why do so many people fall short of it?
Everyone has the ability to be great - and everyone wants to be great.
98% of people are mediocre - yet they want to be great - WHY?
What does it take to become GREAT? In your career, job, business, partnering, relationships - how you can achieve greatness in the key areas of your life.
There are 4 keys to achieving greatness With every improvement in greatness there is an exponential increase in quality and outcome - not a linear increase.
Most breakthroughs don’t come from WITHIN an industry - they come from OUTSIDE it.
Homework: Be curious, ask people questions, dig into how other businesses and industries do business.