"Outsized returns often come from betting against conventional wisdom, and conventional wisdom is usually right. Given a 10 percent chance of a 100 times payoff, you should take that bet every time. But you're still going to be wrong nine times out of ten . . . We all know that if you swing for the fences, you're going to strike out a lot, but you're also going to hit some home runs. The difference between baseball and business, however, is that baseball has a truncated outcome distribution. When you swing, no matter how well you connect with the ball, the most runs you can get is four. In business, every once in a while, when you step up to the plate, you can score 1,000 runs. This long-tailed distribution of returns is why it's important to be bold. Big winners pay for so many experiments."

In a casino, the odds are stacked against you. With skill, you can improve them, but never beat them. In contrast, in business, you can improve your skills to shift the odds in your favor. Simply stated, with enough skill, you can become the house.

“Make people an offer so good they would feel stupid saying no.”

Since the offer is what attracts new customers, it is the lifeblood of your business. No offer? No business. No life. Bad offer? Negative profit. No business. Miserable life. Decent offer? No profit. Stagnating business. Stagnating life. Good offer? Some profit. Okay business. Okay life. Grand Slam Offer? Fantastic profit. Insane business. Freedom.

it is far better to have understood why you failed than to be ignorant of why you succeeded.

every organism is either growing or dying. Maintenance is a myth. What this means is, if your company isn’t growing, it’s dying.

So, then,what does it take to grow? Thankfully, just three simple things: Get more customers Increase their average purchase value Get them to buy more times

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.

We want to make an offer that’s so different that you can skip the awkward explanation of why your product is different from everyone elses (which, if they have to ask, then they are probably too ignorant to understand the explanation) and instead just have the offer do that work for you. That’s the Grand Slam Offer way.

If you play the same game everyone else does, you’ll get the same results everyone else does (mediocre).

At the end of the day, if there is a ton of demand for a solution, you can be mediocre at business, have a terrible offer, and have no ability to persuade people, and you can still make money.

There is a market in desperate need of your abilities. You need to find it. And when you do, you will capitalize, all while wondering what took you so long. Don’t be romantic about your audience. Serve the people who can pay you what you’re worth. And remember that picking a market, like anything, is always our choice, so choose wisely.

In order to sell anything, you need demand. We are not trying to create demand. We are trying to channel it.

But you can be in a normal market that’s growing at an average rate and still make crazy money.

Humans suffer a lot. So for us entrepreneurs, endless opportunity abounds.

The degree of the pain will be proportional to the price you will be able to charge (more on this in the Value Equation chapter). When they hear the solution to their pain, and inversely, what their life would look like without this pain, they should be drawn to your solution. 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. A prospect must have a painful problem for us to solve and charge money for our solution.

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

your audience needs to be able to afford the service you’re charging them for. Make sure your targets have the money, or access to the amount of money, needed to buy your services at the prices you require to make it worth your time.

Growing markets are like a tailwind. They make everything move forward faster. Declining markers are like headwinds. They make all efforts harder.

You must stick with whatever you pick long enough to have trial and error. You will fail. In fact, you will fail until you succeed. But you will fail far longer if you keep changing who you market to, because you must start over from the beginning each time. So, pick then commit.

‘I solve this type of problem for this specific type of person in this unique counter-intuitive way that reverses their deepest fear.”

That’s why a fitness program for generic weight loss might be priced at only $19 while a fitness program designed and marketed only to shift-nurses might be priced at $1997….(even though the core of the program is likely similar - eat less, move more). End Result: The market matters. Your niche matters. And if you can sell the same product for 100x the price, should you? I’ll let you decide.

If you try one hundred offers, I promise you will succeed. Most people never try anything. Others fail once, then give up. 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.

“Charge as high a price as you can say out loud without cracking a smile.”

“Price is what you pay. Value is what you get.”

“There is no strategic benefit to being the second cheapest in the marketplace, but there is for being the most expensive.”

This is what happens when you raise your prices. When you raise your prices, you . . . . . . Increase your clients’ emotional investment . . . Increase your clients’ perceived value of your service . . . Increase your clients’ results because they value your service and are invested . . . Attract the best clients who are the easiest to satisfy and actually cost less to fulfill, and who are the most likely to actually receive and perceive the most relative value . . . Multiply your margin because you have money to invest in systems to create efficiency; smart people; improved customer experience; scale your business; and, most importantly of all, to keep watching the number in your personal bank account go up, month after month, even with reinvesting in your business.

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.”

Those who pay the most, pay the most attention.

In other words, if you can reduce your prospects' true time delay to receiving value to zero (aka you realize your immediate dream outcome), and your effort and sacrifice is zero, you have an infinitely valuable product.

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.

A prime example of this happened in the London tunnel system. The biggest increase in rider satisfaction (aka value) was never from faster trains to decrease wait times. Instead, it was from a simple dotted map that showed them when the next train was coming and how long they had to wait. The dotted map, which only cost a few million dollars, decreased the riders’ perception of time delay and sacrifice (being bored waiting) more than actually making the trains faster (which costs billions of dollars to do). Isn’t that cool? This is how we need to think about our products.

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.

“Any fool can sell a product by offering it for a discount, it takes great marketing to sell the same product for a premium”

Logical solution: make trains faster to increase satisfaction Psychological solution: decrease the pain of waiting by adding a dotted map Psychological solution: pay models to be the hostesses on the trip (people would wish it took longer to get to their destination!) Logical solution: make elevator faster Psychological solution: add floor to ceiling mirrors so people are distracted staring at themselves and forget how long they were on the elevator Logical solution: make it cheaper Psychological solution: make fewer of them and raise the price which causes people to want it more. Often, most logical solutions have been tried and failed. At this point in history, we must give the psychological solutions a shot to solve problems.

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.

There are two elements to this driver of value: Long-term outcome and short-term experience. Many times, there are short-term experiences that occur while en route to the long-term outcomes. They happen “along the way” and provide value. It’s good to understand both. The thing people buy is the long-term value, aka their “dream outcome.” But the thing that makes them stay long enough to get it is the short-term experience.

Always try and incorporate short-term, immediate wins for a client. Be creative. They just need to know they are on the right path and that they made the right decision trusting you and your business.

The only thing that beats “free” is “fast.” People will pay for speed.

So if you find yourself in a market competing against free, double down on speed.

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

Life hack: if you introduce something valuable to someone, they associate that value with you.

“If at first you don't succeed, try, try, try again.”

When I was selling weight loss, I insisted that folks prepare all their food at home. I found it too difficult to help clients lose weight when they ate out because they always blew their diets. Rather than solve the problem, I insisted they do it my way, or not at all. As a result, I lost many sales. One month I really needed to make some sales to pay rent. My next sale walked in the door - it was a business exec looking to lose weight. As we got into the sales presentation, she told me the program wouldn’t work for her because she went out to eat for lunch everyday. Normally, I would have lost this sale. I was a stickler for making people not eat out. But I really needed the money. Refusing to lose the sale because of this one thing, I conceded “I’ll make you an eating out guide for when you go to restaurants so you can eat our 100 percent of the time and still hit your goal. How does that sound?” She agreed, and I closed the sale. I took the time to make an eating out guide for her. But from that point going forward, whenever someone said “but what about eating out??” I had the solution. Over time, I continued solving obstacles with templates and trainings until there were no more “one things” to prevent my sales. This lesson has stuck with me to this day. Don’t get romantic about how you want to solve the problem. Find a way to solve every problem a prospect presents with. When you do that, you make an offer that’s so good, people just can't say no.

Note: You must resolve every obstacle a buyer believes they will have to convert the highest amount of people. That’s not to say that if you don't, you won’t sell people. Not at all. But you won't sell as many people as you otherwise could have. And that’s the goal, to sell the most people, for the highest possible price, with the highest possible margin.

Step #1: We figured out our prospective client's dream outcome. Step #2: We listed out all the obstacles they’re likely to encounter on their way (our opportunities for value). Step #3: We listed all those obstacles as solutions. Step #4: We figured out all the different ways we could deliver those solutions. Step #5a: We trimmed those ways down to only the things that were the highest value and lowest cost to us. All we have to do now is… Step #5b: Put all the bundles together into the ultimate high value deliverable.

People want what they can’t have. People want what other people want. People want things only a select few have access to.

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

There is little that substitutes for incredible demand. You can try and fake it, but there is a special type of “0 fucks given” vibe that’s hard to replicate when you truly do not need a person’s money (or even want it).

The person who needs the exchange less always has the upper hand.

Pro Tip - Once You’re Out, You Can Never Come Back You can create scarcity by also capping your service level and saying that if they leave than can never return. This type of scarcity makes people think extra hard about leaving. I started doing this with my gyms early on. Then I was in a mastermind that employed this. Then I started using it in my higher level of Gym Lords. This works best with small groups (like the above example). As groups become much bigger, the tactic loses some teeth (speaking from experience).

What if I lose sales by turning business away? Just like guarantees, there is always a fear that you will make less money by employing this strategy. We are afraid that we will lose sales we would have otherwise made. Every experienced marketer on the planet will tell you - it is a fear, and it is unfounded. The biggest sales on a week long campaign or launch happen in the last 4 hours of the last day (up to 50-60%). That means that the last 3% of the time allotted creates 50-60% of the sales...that’s completely illogical, but also unmistakably human. So, just like a guarantee, you will make more money from the many people who decided to take action than people who actually missed out because in reality, those people were never going to buy (heck, they didn't even buy when they had their fee to the fire, so why would they without?) Good to remember.

Pro Tip - Clean Your Pipeline With Every Price Change: If you ever really are planning on raising your prices (hopefully soon if you are reading this book!) then you can always clean out your pipeline by letting people know “The price is going up! So get in now!” Never raise your prices without letting people know. It shows a position of strength and will give you a nice little influx of cash from the people in the pipeline who were on the fence.

a single offer is less valuable than the same offer broken into its component parts and stacked as bonuses

Pro Tip: Add Bonuses Instead of Discounting Whenever Possible on Core Offers 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.

A world class affiliate marketer Jason Fladlien (who did $27M in a single day) recently used an amazing guarantee for a course he sold. He said “if you buy this course and spend $X on advertising your ecommerce store using the methods herein, and don't make money, I will buy your store from you for $25,000 no questions asked.” He claimed that an additional $3M in sales came from this crazy guarantee on a $2997 course. What’s more, he only gave 10 of these $25,000 refunds out. So the refund generated $2.75M in extra sales. That’s what a crazy guarantee does for you.

Implicit-egotism effect: we are generally drawn to the things and people that most resemble us.

Alliteration is when you make all (or most) of the words start with the same letter or sound. An alternative approach to rhyming is to use alliteration when naming your program. This is easier for most people than rhyming. Again, you do not need to rhyme or alliterate. Don’t force it. Ex: Make Money Masterclass, Change Your Life Challenge, Big Booty Bootcamp, Debt Detox, Real Estate Reset, Life Coach Liftoff, Etc.

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