Resenhas - $100M Offers:

Introspectista 05/01/2024

O melhor livro sobre vendas que eu já li
Tudo bem que foi o primeiro, mas ainda é o melhor que eu já li. Ele pega você pela mão e apresenta tudo que você precisa para iniciar a sua jornada de vendas. E o livro é tão bom de ler que, mesmo se você não tiver um produto ou serviço para vender, seguindo os passos do livro, é capaz de você começar a desenvolver um muito bem feito.
É sinceramente o meu livro favorito (até o momento) sobre vendas. Recomendo fortemente você a ler (se você consegue ler em inglês) porque ele vai te ajudar imensamente e ele é super curto.

Moitta 07/02/2024

Minhas notas do livro

“Make people an offer so good they would feel stupid saying no.” ​— ​Travis Jones

The only way to conduct business is through a value exchange, a trade of dollars for value. The offer is what initiates this trade. In a nutshell, the offer is the goods and services you agree to give or provide, how you accept payment, and the terms of the agreement. It is what begins the process of getting customers and making money. It is the first thing any new customer will interact with in your business. Since the offer is what attracts new customers, it is the lifeblood of your business.

If you are willing to exchange the time it takes to watch two episodes of your favorite tv show and really study this book — and if you implement even a single offer component — I can guarantee you will add more clients and more dollars to your bottom line.

Alright, let’s start by defining a Grand Slam Offer. It’s an offer you present to the marketplace that cannot be compared to any other product or service available, combining an attractive promotion, an unmatchable value proposition, a premium price, and an unbeatable guarantee with a money model (payment terms) that allows you to get paid to get new customers . . . forever removing the cash constraint on business growth.

I give you that story as a cautionary tale. Your market matters. Lloyd is a very smart human. He is obviously very capable. But we can all be blinded as entrepreneurs because we don't like to give up. We are so accustomed to solving impossible problems that we will keep ramming our heads into the wall. We hate quitting. But the reality is that everyone is affected by their market.

In order to sell anything, you need demand. We are not trying to create demand. We are trying to channel it. That is a very important distinction. If you don’t have a market for your offer, nothing that follows will work. This entire book sits atop the assumption that you have at least a “normal” market, which I define as a market that is growing at the same rate as the marketplace and that has common unmet needs that fall into one of three categories: improved health, increased wealth, or improved relationships.

I have a saying I use to train sales teams “The pain is the pitch.” If you can articulate the pain a prospect is feeling accurately, they will almost always buy what you are offering.

Pro Tip The point of good writing is for the reader to understand. The point of good persuasion is for the prospect to feel understood.

Think about what you are good at in regards to health, wealth, and relationships. Then think about who might value your service the most (is in the most pain), has the buying power to pay what you want (money), and can be found easily (targeting). As long as those three criteria are strong and the market isn't shrinking, you’ll be in good shape.

There are three main markets that will always exist: Health, Wealth, and Relationships. The reason that those will always exist is that there is always tremendous pain when you lack them. There is always demand for solutions to these core human pains. The goal is to find a smaller subgroup within one of those larger buckets that is growing, has the buying power, and is easy to target (the other three variables).

I have a saying when coaching entrepreneurs on picking their target market “Don’t make me niche slap you.” Too often, a newer entrepreneur half-heartedly tries one offer in one market, doesn't make a million dollars, then mistakenly thinks “this is a bad market.” Most times that’s not actually the case. They just haven’t found a Grand Slam Offer yet to apply to that market.

They think, I’ll switch from helping dentists to helping chiropractors — that’s it! When, in reality, both of those are normal markets and represent billions of dollars in revenue. Either would work, just not both. You must pick one. No one can serve two masters. I have coined the term “niche slap” to remind entrepreneurs in my communities to commit once they pick. All businesses and, all markets, have unpleasant characteristics. The grass is never greener once you get to the other side. If you keep hopping from niche to niche, hoping that the market will solve your problems, you deserve to be niche slapped.

End Result: The market matters. Your niche matters. And if you can sell the same product for 100x the price, should you?

The purpose of this chapter is to reinforce two things. First, don't pick a bad market. Normal markets are fine. Great markets are great. Second, once you pick, commit to it until you figure it out. If you try one hundred offers, I promise you will succeed.

It takes resilience to succeed. Stop personalizing! It’s not about you! If your offer doesn’t work, it doesn’t mean you suck. It means your offer sucks. Big difference. You only suck if you stop trying. So, try again. You’ll never become world class if you stop after a failed attempt.

So have this skill set — the ability to accurately assess markets by taking into account pain, money, targeting, and growth — in your back pocket so that when lightning strikes, you can make sure it strikes twice.

In order to understand how to make a compelling offer, you must understand value. The reason people buy anything is to get a deal. They believe what they are getting (VALUE) is worth more than what they are giving in exchange for it (PRICE).

In plain words, pricing this way means you are providing a service at just above what it costs for you to stay above water. We are not trying to stay barely above water. We are trying to make egregious amounts of money that will have your relatives asking if what you are doing is legal. Again, we are not trying to get the most customers. We are trying to make the most money.

In essence, raising your prices can directly enhance the value you provide. What’s more, the higher the price, the more allure your product or service has. People want to buy expensive things. They just need a reason. And the goal isn’t just to be slightly above the market price — the goal is to be so much higher that a consumer thinks to themselves, “This is so much more expensive, there must be something entirely different going on here.”

That is how you create a category of one. In this new perceived marketplace, you are a monopoly and can make monopoly profits. That is the point.

Those who pay the most, pay the most attention.

In the real world, to have the “gonads” to charge big ticket prices, you must outwork your self doubt. You must be so confident in your delivery, because you have done it so many times, that you know that this person will succeed. Experience is what gives you the conviction to ask for someone’s entire year’s salary as payment.

This was possible because my conviction was stronger than their skepticism.

Many entrepreneurs believe that charging “too much” is bad. The reality is that, yes, you should never charge more than your product is worth. But you should charge far more for your product and services than it costs to fulfill it. Think up to a hundred times more, not just two or three times more. And if you provide enough value, it should still always be a steal for the prospect.

Those who understand value are the ones who will be able to charge the most money for their services. The good news is that there is a repeatable formula that I have created (I’ve never seen it displayed elsewhere) to help quantify the variables that create value for any offer. I call it The Value Equation. Once you see it, you can never unsee it. It will operate in your subconscious, running in the background, calling out to you. It’s a new lens through which to see the world.

(Yay) The Dream Outcome (Goal: Increase) (Yay) Perceived Likelihood of Achievement (Goal: Increase) (Boo) Perceived Time Delay Between Start and Achievement (Goal: Decrease) (Boo) Perceived Effort & Sacrifice (Goal: Decrease)

What will I make? (Dream Outcome) How will I know it's going to happen? (Perceived Likelihood of Achievement) How long will it take? (Time Delay) What is expected of me? (Effort & Sacrifice)

Perception is reality. It’s not about how much you increase your prospect’s likelihood of success, or decrease the time delay to achievement, or decrease their effort and sacrifice. That in itself is not valuable. Many times, they will have no idea. The Grand Slam Offer only becomes valuable once the prospect perceives the increase in likelihood of achievement, perceives the decrease in time delay, and perceives the decrease in effort and sacrifice.

Most people naturally try and solve problems using logical solutions. But the logical solutions have usually been tried...because they’re logical (it’s what everyone would try and do). As a business owners and entrepreneurs I increasingly approach problems to find psychological solutions, rather than logical ones. Because if there were a logical solution, it probably would have already been solved, thereby eliminating the problem. All that’s left are the psychological problems.

As such, as business owners, it is up to us to communicate these value drivers with clarity to increase the prospect’s perception of these realities. The extent to which you answer these questions in the mind of your prospect will determine the value you are creating. Only then, will we truly be able to realize the actual value of our product to the marketplace, and by extension, the egregious prices we want to charge.

People have deep, unchanging desires. This is what marriages are lost over, wars are fought over, and people will willingly die for. Our goal is not to create desire. It’s simply to channel that desire through our offer and monetization vehicle.

The dream outcome is the expression of the feelings and experiences the prospect has envisioned in their mind. It’s the gap between their current reality and their dreams. Our goal is to accurately depict that dream back to them, so they feel understood, and explain how our vehicle will get them there.

“He who said money can’t buy happiness, hasn’t given enough away.”

Step #2: List Problems Next, I wrote down all the things people struggled with and their limiting thoughts around them. When listing out problems, think about what happens immediately before and immediately after someone uses your product/service. What's the “next” thing they need help with? These are all the problems. Think about it in insane detail.

Now that we have our core offer, the next section will be dedicated to enhancing it. We will employ a combination of psychological levers: bonuses, urgency, scarcity, guarantees, and naming.

“Desire is a contract you make with yourself to be unhappy until you get what you want.”

Hormozi Law: The longer you delay the ask, the bigger the ask you can make. “The longer the runway, the bigger the plane that can take off.”

We must endeavor to keep our supply (and satisfaction of desire) under the demand that we are able to generate. This maximizes profits and keeps desire ravenous in our customer base. This is the real key to never going hungry.

In this next section Enhancing Your Offer, I will show you how I: Use scarcity to decrease supply to raise prices (and indirectly increase demand through perceived exclusiveness) Use urgency to increase demand by decreasing the action threshold of a prospect. Use bonuses to increase demand (and increase perceived exclusivity). Use guarantees to increase demand by reversing risk. Use names to re-stimulate demand and expand awareness of my offer to my target audience.

The idea that you can never get it again makes it more desirable. This is an example of scarcity. It is the fear of missing out on something. It pulls on our psychological fear of loss to get us to take action. Humans are far more motivated to take action to hoard a scarce resource than they are to act on something that could help them. Fear of loss is stronger than desire for gain. We will wield this psychological lever to get your clients to buy in a frenzy, all at once, until you are sold out.

Employ one or multiple methods of scarcity in your business. You will drive a faster purchasing decision from your prospects, and at higher prices. Just let them know your limits and let psychology do the rest.

Deadlines drive decisions. By simply having these, you can point to them and let human beings push themselves over the edge so as not to miss out.

The main point I want you to take away from this is that a single offer is less valuable than the same offer broken into its component parts and stacked as bonuses

The reason this works is we are increasing the prospect’s price-to-value discrepancy by increasing the value delivered instead of cutting the price. We anchor the price we tell them to the core offer. Then with each increasingly valuable bonus, that discrepancy grows wider and wider until it's too big to bear and we snap the rubber band in their mind that is holding their wallet in their pocket.

Whenever trying to close a deal, never discount the main offer. It teaches your customers that your prices are negotiable (which is terrible). Adding bonuses to increase value to close the deal is far superior to cutting prices. It puts you in a position of strength and goodwill rather than weakness.

We want to employ bonuses because they expand the price to value discrepancy and get people to purchase who otherwise wouldn’t. They massively increase the prospects' perception of the value of our offer.

“Do you think I'd still be in business if I gave a crazy guarantee like that and wasn't good at what I did? Now I'm not guaranteeing you’re going to hit this goal in six weeks, after all, because I can't eat the food for you. But I am guaranteeing that you will get $500 worth of value and service from us to support you. If you don't feel like we gave you that level of service, I’ll write you a check the day you tell me we suck.”

Perfect alignment between client and service provider fosters collaboration and a long-term relationship.

The key is to identify a client’s biggest fears, pain, and perceived obstacles. “What do they not want to have happen if they pay you? What are they most afraid of?” Reverse their fears into a guarantee. Think of the time, emotion, and outside costs associated with any program or service. The more specific and creative the guarantee is, the better.

Over time you can rename the offer to refresh it. This one concept will get you leads forever. I mean it. So pay attention. We are not changing the actual offer. We are only changing the wrapping paper.

Do what sounds punchier to you. After doing this for a while, you’ll see that some offers convert better than others. That’s natural. And every once in a while you’ll get a name that takes off like a rocket. I honestly have no idea why some names win and others do not. So, don’t be emotional about it. Keep trying. Keep striking out. Then try more. You’ll get there.

We must appropriately name our offer to attract the right avatar to our business. True to the moniker, people do judge a book by its cover. Half-ass naming your product or offering can ruin conversions. Don’t fall victim to lazy naming. Follow the steps here to name your product or service offering and watch the same offer get 2x, 3x, or 10x the response rate.

We covered why you must not be a commodity in this marketplace. Why you should pick a normal or growing market, and why niches get you riches. Why you should charge a lot of money. How to charge a lot of money using the four core value drivers. How to create your value offer in five steps. How to stack the value, deliver it, and make it profitable. How to shift the demand curve in your favor using scarcity, How to use urgency to decrease the action threshold of buyers How to strategically use bonuses to increase the demand of your offer How to completely reverse buyer risk with a creative guarantee. How to name it in a way that resonates with your avatar.

Entrepreneurship is about acquiring skills, beliefs, and character traits. To advance, I find that we must determine which skills, beliefs, and character traits we lack. Most times, we simply need to improve. And the only way to do that is through learning from experience and/or high quality sources.

Entrepreneurship is about acquiring skills, beliefs, and character traits. To advance, I find that we must determine which skills, beliefs, and character traits we lack. Most times, we simply need to improve. And the only way to do that is through learning from experience and/or high quality sources. I have received terrible advice from people who were ahead of me at the time. And though experience is the best teacher, she is not the kindest.

The devil is in the details. Excellence exists in the depth of knowledge and nuances. That’s what separates the greats from everyone else.