Latest Talks Podcast - Ep #17 | Topics: What Is A Business? - Sales Psychology - Business System.

[Music] [Applause] [Music] 17. [Music] influence line and their book and their book is basically einstein the foundation is in business um can i help you do you need help took the yes but i came here instead yeah okay can i help you no thank you i'm just looking now the school never said no thank you i'm just looking just browsing whatever his terminology is for the sentence if i said i'm just looking i'm not gonna buy anything because if i buy it means when i say i'm just looking it's called consistency a person wants to be consistent with themselves kind of back from the store that's done water machine from their parts [Music] instead of making the sale happen he says something that actually repels the customer from buying since i said psychology came not enough examples but was given an example via zoya customer [Music] foreign you never raffle off the item that you're selling giveaways a business foreign [Music] the question is tiazo koidum baiting girlfriends are family of the friends neman alone or that bring a partner in some business and whatever the emphasis just gave my husband [Music] by the time it would have come that i would have even asked him he would have known because they would have he would have really heard them in mortgages so it's always going to be harder for a person's friends and family to take them seriously because they have baggage they have history not there's anything wrong with history has a certain look at you and it's very hard to change that look at this therefore in business it's always important to deal with strangers i'm multi host you get your chaps i multivised with the test demos the eigen came in translation dimensions business foreign she ruined so first of all everyone start some place but it's much more helpful to learn to love what you do then to do what you love and try to make a living of it [Music] foreign heard so i won't repeat the origin story but the point is as my first client is given ago consuming business credits called consulting vegans and god challenges maybe the book of gestalt infinite business credit they give on business in general having said that that's the fin of clients and given the issue and the credit score in the next house declines a consistency authority scarcity social proof liking and i just forgot one but it was only divided anyways authority authority mind the president and allah um politicians hum american flags in the back as i mentioned authority now new york business of consultants michelle stamos i mentioned immediately as consultant in vermont you mentioned i'm telling you how this came into it's going to ring off the hook be ready when the gun say cranes new york business in chicago business phone call cleaning ladies in our lawyer's office and cleaning the lawyers officers and the omnicron variant and young children so now you can't respond to that because you're not a pediatrician but amul kem responds up as professionally ordered response episodes with professionals looking for people who who were advised with that in niagara falls in the last six months to say what they thought and what happens is i'm only host a connection with a reporter first of all you're in the media in general second we have connections to reporters and over time you develop those relationships more and you get quoted in the media which is worth way more than advertising every time you get a mention in the media that you did not pay for it's worth much much more than four or five advertisements of the same size as the article you mentioned then the part that's about you and doctor rabbi i want to change my whole clientele my whole my whole um practice what's the problem i have all these old people they come in and i say hello mr smith how are you mr smith says my back hurts my foot hurts captain how good is it we could change your practice i have a lot to offer you but first one thing when mr smith walks in you say hello mrs smith how's your foot if you don't say how are you how's your foot it's the foot doctor let's let's don't feel like that you you immediately eliminate the part of the the part that's bothering you this one's going to take corrections you come home in a bad mood you know depressed from all the students you've heard of no stress yeah again but that goes back to your first question of psychology so that's a so we discussed authority we assess consistency now um social proof is we discussed before when you see a guy holding a uh adult computer or eating a piece of salmon a restaurant i would like to have three life hack another one that i said as you say the xiaomi graph news and by the way one thing i don't want to clap i try to be careful not to have to clap that one i'm ready no but a lot of times people come to me and he lets got that client guilt money back guarantee and visit this helps our business but i gave him back his money because he couldn't hear what i had to say i told him the business he wants to go into the bad idea i think what you're doing is it's not a good idea but vis-a-vis especially in the beginning as well but especially later you have a feel for these things second of all when someone tells you about a business that makes no sense you just know it makes no sense usually of data was the market would is not is because everyone that wanted this it's a good idea with everyone who wanted this idea has it already very good now the answer to your question about the kegel slice series it's a good idea it's not good for mashed potatoes it's not it's not patentable it doesn't mean it's a bad idea you can make it you can sell it fine over how many people out there are going to buy it i don't know if you have somebody who really likes kegel and wants to give a listener she's eltaba he wants to donate and it should be called you know [Music] desire kegel slicer and wants to give it to heavy shield as an adobe it's a great if it's worth manufacturing and packaging and selling if you'll end up making money on it that i can't tell you the family [Music] has to be if it's going to be a professional slice it has to be nine by 13. number three another roast you have to have weird to put it a whole week you're not thinking about that part if i'm going to buy such a such a thing am i putting it so says wire can smack on a wire cheese nine also with the cheese slice services wise slice cheese slices exercises the size of the hard-boiled egg yeah so the house does the wires uh so this is a perfect echo it's a perfect example i could explain it to you for two hours well you could just trust me okay find a get another maybe one of the people listening and wants to do such a project it's a very good idea for a non-profit because it's not such a good idea to sell that's one way i'll tell you even more there happens to be something called the cake slicer okay and when you make a cream cake whatever you make a cake and then you just you just move it across and it cuts into even size layers so you can put your strawberry shortcake in the middle so i can buy such a thing and use my kegel i don't have to reinvent that's the point the point is that people don't have such a huge problem of coding kegel mechanics okay the guy takes the wheel and goes and every heat comes in and says i want that piece oh that's a great fancy cleaning so it's a bubble or something okay in in in chains every slice is the exact same size because they have a special mold they're going to call it that actually guides the the the wheel to make sure every slice is the same so having a conversation about a specific item again it could work if you make it i get one for free because we know so for the cats myself for cake size where's the cake slices likes a number 13. so those dry mini sizes if we're going to go through every theoretical product now it's endless so let's talk about general instead so now okay how do we get here um i think you wrote something down i'm not partner investor of the family the beauty of having an investor is assuming he's investing because he believes in the product a person that like in a product is going to research and going to check and going to have a gut feeling about it he has the money to invest himself is going to have put enough time and more into it to see if it can make sense or not um so the model of getting money from somebody else is it sort of checks and balances system to make sure that the product has potential now obviously the more risk there is the higher the potential reward has to be besides if i mentioned evil guilt bakery okay so therefore the chances of the bakery succeeding are pretty good therefore the investor gets x percent this is not a joke i'm going to send the rocket ship to one of the stars and bring back precious metals that's worth trillions and trillions of dollars you have to give a guy a really good return on his money because 99.9 percent he's gonna lose his investment so the reward has to be worth it for him to risk it so that's really what you would have boils down to every time he says kedai so my investor especially then again who's going to clank in take the same idea as scale time and money ye the decision of business can boils down to the same thing more time less money more money less time as i mentioned and if it's worth waiting that long to see if it's going to work out or not the more money he throws the problem the more time he'll be able to save i mentioned the prelims and computer in a guide and i typed it on um how to windows 10 microsoft word uh spell checker not working okay solution pink levels or basically the best of the problem had a document he's going to save the document recover document something let's if he doesn't do it right he loses it the only problem is is that if the result that you get is wrong you got a problem if you google a medical problem and the result that you get is wrong you have a problem you cannot mention how to give us a medical issue in confirmation a simple pill can work instead now if you just google yourself if you go stomp to the local doctor you don't but the guy's a top doctor otherwise the guys to muscle to the the school and was teen and they knew it was weiss and the latest the latest and greatest developments the same is true in business same is true in a lot of areas of life it saves time when you ask somebody else um a very very interesting question every every industry what's the difference in every single industry okay so right there's millionaires and poor people no matter what a consultant is from a consultant that that can tell you do this and this and this and become a millionaire other if you do this not completely the opposite i'll see you'll for sure lose your money or is the consultant meant to will your business just succeed no more so first of all uh this is a disclaimer nation of amina hey the consultant of the belt as gently as possible him foreign but the client has to be able to know to have his best interests in mind sometimes i just can't say why because that he doesn't know about one of the options because i can't tell him for his own benefit or because i have confidentiality with somebody else so there are people emotional some consultants you can't approve and they would tell you step one step two this is how to make a million dollars using this and this and that and that okay so first of all legit so first of all if you say you know a lot of consultants that do that they won't say it's not legit what i will say is is that when you go to someone and you give them complicated steps a la mor a mentioned different variables different things going on step by step but yes when you start with a person you tell them you need as an example listen here your one of your problems is you have the same ad every week it's called add blindness people don't see it what you have to do is you have to make three ads and then every third week you have to use the same ad so that every week will be different so people will see it national day so then mention fish diet but really step one is that three ads really should not be every week a full page but if i go there you want to make a page one week it's gonna be too much for you the first step is three different ads and once you're making three ads make one of them a half page horizontal one and a half page vertical one of them and by the way the english with your mind [Music] and for 15 even though it's late please don't wait this lately after your last meeting they must meet you okay again [Music] the accountant bookie president we have to close our doors because if you're in business for three years and you can't make ends meet after three years it means this business basically has no hope cancel close down we didn't want to call you till now because we don't like your style of ass emotional half page not full page or certain other things let's not forget the goal of the ad is to bring business to this person the goal of that is not you should get compliments from your friends you're a nice designer yeah but the to do the design of his stuff he got paid but that's not the point of that the point of that is to help the guy who's paying for that and paying for the placement by the way most people spend as little as they can on an ad so they have as much money as possible for the placement which is wrong right because you end up putting an ad that's mediocre instead of putting an ad that's good a good ad that's put in less places a good half page ad will do better than another good full page targeted places target places targeted at the ad itself the quality of the ads device was the face to exclude now vision [Music] very i believe my ad will work your business will pick up but i'm tanay you don't like that i'll make you a norm but with these eight people these ten people have to say i don't it doesn't count anymore why because municipal they mention if they're your target customers they should buy by you anyway because you're friends with them and so not to target customers what business do they have and telling you how to do and what to do and what they think doesn't matter says living vicariously living vicariously mind as in a minute of the merry-go-round of the horses of the horse so if you want to do it go do it yourself you don't want to do it on carbon to do it as if the way you would do it find out though this number on the list friends now you know them so now consultant has hashem again i'm talking in general now just like a lawyer something called case law means that there's this lawsuit that happened in the past the judge and the java good lawyers he looks to the case law is based on old law which is based on total but okay um to understand what a judge should path can in such a case but if you think about it every single case has absolute wrinkle that's different than the previous case so there's no way any consultant to any lawyer any it's always different but you take the experience that you have and the knowledge that you have and you try to apply it to this case and uh but yeah exactly as an example an employee they employ some of the business from the business first of all the word system is the saves you significant time energy money system saves you significant time energy money if you let's let's cut out the shawnee for now you're bringing me to a different time of year is coming let's sing [Laughter] is the point of what a business is is it can hire people that will do the work that you need done for less than the amount you'll make of other people from them doing the work so basically if not you have a good job that you graduate your own boss but you don't have an actual business the business doesn't need groceries kim dendi bills their patients find the dollars their doctors find that our patient is not making any money if you're paying the doctor 190 a patient then you're making ten dollars per patient then if you have five doctors you're making fifty dollars a patient altogether if you have 100 doctors you're making much more than that right that's than a kid that what a business really is and many people don't understand that they don't understand all they have is a very good job and they don't have the boss yelling at them to come on time but they don't really have a business but and the profit of the product is obviously the employees but you have to risk the whole investment not right not not right what does that really mean the cookie machine stays the same right so why am i hiring more sales people because i assume that the sales people will bring in more money to my business than it's going to cost me to pay them salary that means there's a spread there that's what business and there's one more thing themselves the businessman will take a strawberry and make strawberry juice yeah strawberry juice and sells for 2050 cents the entrepreneur will make it a cocktail and sell it to a dollars client was hot a business in the business respected business and we had a serious discussion about succession planning the xena and the item and the whole the whole uh the whole situation and so [Music] and yeah i bought this i bought this practice you should open your mouth and let them work and if you do you come back again no you don't the way to sell a dental practice how do you figure out the value the value of a dental practice is figured out based on how many people come back to the new dentist a second time that means you have to come you have to like the new dentists that's called bedside manner like i'm a dentist maybe it's not called my dentist you have to like the dentist enough to come back a second time for every patient that comes back a second time the practice is worth pick a number 350 per patient but you don't know that until after the dentist sees them the second time now when somebody has a business that they see as a very successful business but really people are coming because they want to talk to the that person he doesn't have what he thinks he has to give his kids because it's like a dentist you're not coming so you have to do is you have to bring in the new dentist and no dentist if he dies in a car accident it's worth almost zero you bring a new dentist alongside the old dentist when people come in they go to their current dentist that's fine of oil and meanwhile they see the new name on the sign they see the doctor politics on the back that kentucky patient is coming going the next time the patient calls he says hello my teeth my two thirds the receptionist says doctor abc is not available but dr z xyz is available and slowly slowly start porting the patience from one dentist to the other then when the older dentist retires the younger guy is left with all the patients but has to be done with their exact example sometimes yeah is besides you and your sugar nobody cares about chairs nobody notices nobody cares the people that are in it they know says most people don't pay attention to these things which is why when some of my clients obsess about ads they obsess on do what you want if you want to become a business consultant you pay me for my time i'll teach you everything no no no secrets i'll tell you belinda everything i know but if your goal is to succeed in what you're doing then don't nitty-gritty about things that just trust me i know what i'm doing i have no problem either way but just figure out where you where you're headed nobody cared i told the guy i said nobody cares about you and you're shaking happens to be as the podcast azah was a sakhme powerful the regular fans because as in zara rangatin in a certain thousand true fans exactly so in in the podcast um remain upset doesn't change the studio and that's why the fiesta liner huh no seriously people told me manchester united says [Music] entertainment pinky shirt which i love very much by the way um the look from the business wealth any person that's listening to this if they weren't listening to this or listening to something else that would be less kosher than this every minute of listening or watching that's done this is a mitzvah yeah [Music] so i guess uh consumption you covered mainly yeah for the covering quite a lot of detailed information yeah most of us are going to have so i want to i want to still mention two things one is that a business as you can submit and here we go again just an example before i do it not on purpose but lemon the idea should see how it happens um came to me that helped my business on business order when i was a minimum sponsor thousand dollars so basically he spent a hundred thousand dollars buying scholar and now he's coming for the thing because the business is not working out i said how many customers do you have you're not going to believe me so i know already he has 10 20. when okay he says zero he never had a costume yet he spent all his money buying thing he never had a customer so i said uh oh so it's not really a business meaning he said he had a business or some business has a certain meaning you have customers he says yeah but now i'm stuck and i told him i told him because products you have to take a different product so i don't want to give an example in his industry i'll give an example a different industry so let's assume that you sell very high-end mics and they started a thousand dollars how much does this cost but the mic yeah about 500 500 so if you if this is your entry-level mic 500 then a guy who's not looking to make a professional level podcast is not going to buy it if you want to get them in the door you have to do is you have to buy them you have to sell mics that cost 50 and put an ad in every paper that says 50 mic good mic for a beginner whatever whatever when a person calls you from that ad you say asking questions you don't just have 50 dollar mic what kind of micro you need it for okay we have a 50 mic then we have 500 mic which is a lot more than 50 but if the 500 mic has this this this this this this this benefit then he makes a decision if he wants to go to cheaper mic the more expensive mic the cheaper mic is just the mic and that's it the more expensive mic in the future you could upgrade it you could add you could this you could that focus me did it then it worked so that's an example of the same product line or the other for example if you have mic and a wire accessories the stand is you can't put an end of the paper that says you know or mics and accessories really the point was in his particular industry let's assume he sold central air conditioning so i told him still window air conditioning i know the point is first find people on account of cost air conditioning and then when you have your fighting some people someone buy the cheaper ones something expensive you'll get your name you get your reputation out there you gotta tell them they're gonna upsell people right you gotta it's very hard to take someone from a nine dollar product with 10 dollar product of 500 product but from 9 to 49 and then two minutes later from 49 to 4.99 of course you should ask that is opening a podcast a good business decision how much time how much time do you have to answer the question um minus fifty we have another episode i wanna come back this is gonna be the last six this is gonna be the last question episode 26 actually actually we're going to answer this by episode 26. okay yeah no no no no no no i didn't have any questions left yeah okay having a podcast builds authority the person doesn't get to hear my voice so i wrote for them 500 articles or something you know some something like that um but when you are in that mode the person reads your article he doesn't see your voice he doesn't see you he doesn't hear your voice he reads it and you have 800 words to get a message across i don't know how many words i'm from brooklyn so i speak pretty fast i don't know how many words i said in this podcast but it's probably how many articles so they get 50 times the amount of words they get to see what i look like or hear what i sound like and feel that much more comfortable with me and therefore in the same just hands to go back to answer the questions as far as podcast when people get to see you and people get to they get a feel for you you know and they got to mention canada even though i don't know them uh people feel close enough to connection but that can only happen on monsieur no it's not really true because all they mentioned are the shabbos guests and a lot of that comes from from from my very nice authority scarcity consistency reciprocity social proof and liking among others are different tools in psychology psychology i mentioned enlightenment ambassadors in business science customer and science vendor now is a podcast a good business idea the answer is like this if the podcast is a business because it makes money it's obviously a good idea if a podcast is something you're doing because it brings in customers to something else so if the muscle you see after every podcast you get 502 phone calls more than you usually get people who want your choir at an example then obviously it's a good business decision but as i told one of my clients and one of them i mentioned before about uh every game in the business for the kingdom entered its five businesses i'm business today that i'm business and it's vital that's right the business traffic it's part of a sales funnel so you have to understand not to businesses if you want to look at two businesses then every time that business sends customers to that business you have to give them 25 commission because otherwise then you say it's a business because they pray has a way to get but if it's his own business then if he sends customers to a different vendor initially under the business he has to if he can make more sending it somewhere else he should be sending it somewhere else because again it's it's he has able to see everything for what it is is a part that's a good business decision it depends if it's either making money or bringing in customers that are giving you money for something else if it is it's a good business decision if not when you can do it because you enjoy it but as far as the business decision that wouldn't give away if it makes money because you might build your own competition so if you make a podcast about kegel and you decide to make a product of how to cut kegel and you advertise that business organically on that particular podcast that's right it might be a very good match one for you you heard it we will start making a podcast about kegel um yeah so i wrote that down i really appreciate it [Music] it's amazing on this mom shazam