Master call week 6 tủ tài liệu bách khoa

Now I have short-cutted a lot of that for you, but I just want to remind you that you're going to see a lot of videos with a lot of successful people in this course.. You're always going

I;M$hi

Welcome, welcome, welcome Welcome to the Master Call tonight This is Ramit Sethi

Lots to talk about tonight We have some great questions They're getting a little bit

more advanced We've got questions on positioning, questions on copy, questions on

productization and product formats I've spent the last couple of days in studio, here in New

York, and I'm spending another day tomorrow It's a marathon session I'm interviewing

several, very successful I Will Teach students It's been a pretty fun experience A lot of these

students are the cream of the crop

One of the students today I spoke to, he joined Earn1K, and it was funny because he had been

on my list for eight years, since 2005, and he never joined He never joined anything He

bought my book and that was it One of the reasons was, he said that Earn 1K seemed a little

too easy for him It was too junior Anyway, he ended up joining, and the course generated

over $140,000 for him So we talked a little bit about that I had to make fun of him a little bit

for the delays that he took But I thought it was pretty cool to hear people persisting, because

it would have been so easy to give up

Some of the students I talked to were actually on food stamps Actually, a couple of the

students were in some serious financial problems before they came across my material One

of them was on food stamps, and about three years later, he is on target to earn $500,000

this year Now, it would have been easy for a lot of people in different situations, whether they

were on food stamps, or more commonly, they were just doing fine to kind of stick with the

program You know, do what everyone told them, and not take any extraordinary steps

In fact, we see this right now in Zero to Launch The stuff you are doing right now is

very challenging, and it's easy to say, "You know, I haven't found my idea yet I give up."

Remember, you're five, six weeks in It took me years to launch my first product Now I have

short-cutted a lot of that for you, but I just want to remind you that you're going to see a lot

of videos with a lot of successful people in this course You're going to continue to see them

on my website, in Brain Trust, etcetera Just remember, it's easy to look at people and paint

them with this picture that they were born with it, or they were lucky, or you could never

do what they do But what we don't see are the mental decisions, when they woke up in the

morning and they decided to persist and just keep at it

So I want to challenge everyone to keep at it as we go through it because this stuff is not easy

I have to commend you for showing up every week and asking the tough questions and taking

the feedback I give you and putting it into action We're going to go to Carol I

Well, I always thought that if other people did something that is close to what I was going to

do, that it would be impossible for me to break through and do something new I realized that

it's totally wrong So even if something has been done out there already around the topic that

I would like to tackle, it's always possible to be different in your own way

l@§iii

That's right Very good We've seen this in virtually every market There is no industry where

there's just one player Any industry with any revenue has multiple players In fact, there is

usually enough room for many players So that's a great insight Alright, what's your question

tonight?

'¥'4·1!1

My question is about a product that I already launched, and I went ahead of myself before

taking your course I did it on Udemy, actually I'm having a hard time knowing if I'm

digging in the wrong direction or not A brief for people who are listening, I'm initially a

sound engineer and a music producer, and I've spent about 10 years of my life teaching that

So I decided to create a couple of courses on Udemy to teach a software that is called Pro

Tools that sound engineers use for that I decided to go for a paid course and a free course

One of them, the free one, is just tips and tricks, like little nuggets, and it's called Pro Tools

Tapas so it is like a gourmet course The other one, which is a paid one, is a project-based

course It guides students how to start making their first electronic music tracks, from A to

Z, the whole process

After I took your course, I saw a lot of mistakes that I was doing One of which, going ahead

of myself, and creating a product before even studying the market or seeing the needs But

at the same time, I got confused with the results I got So I'm trying to go backwards now,

reverse-engineer things It's been very challenging for me to take a step back and see what

I'm doing wrong Because for the free course, I'm getting about 90 persons per month to sign

up, and I've got, so far, 15 reviews But for the paid one, I only got 40 people to sign up, out of

which, that 15 paid for it The others, I sort ofled them into the course, whether it was free, or

with coupon codes, or things like that

i;hfuiii

Okay, alright Let me pause you right there You just gave everyone a lot of information, so

I'm going to sum that up in a couple of sentences You launched a course to teach people how

to use this software, Pro Tools, and you launched it on another site called Udemy Your free

course is getting about 90 students a month and your paid course, which is $99 dollars, has

gotten 15 paid students Correct?

The question is, I'm trying to understand the mentality like between the free course and the

paid course Why is this happening, one Second, ifUdemy is a good place to validate an idea

or a product?

i;MMII

Okay, good Well, when you say, why is this happening, what do you mean, this?

U· M·lii

The fact that the free course is getting way more engagement than the paid one I'm not sure

if it's the way Udemy is promoting the courses, or it's something that is in my course that

works more or less in the concept because both are not identical

•MM"

Well, hold on a second Why is it surprising to you that the free course would receive more

engagement or more students than the paid course?

'¥'4·1!1

Yeah, this is not the surprise The thing is that I'm trying to separate the idea between free

and paid, and then the two different products, different targets This is what I'm trying to

understand, so how to do the separation Is it only the free component that is attracting more

students or is there something else to it?

+;UM+

Well, I don't have intimate knowledge of your market or your products, but in general, free is

going to get you a lot more attention You're going to get a lot more people signing up But as

you noted in your own question to me, those students don't tend to be very engaged Would

you agree?

U· M·l!l

Yes, that's right

I;Uf.iii

Alright We see the same thing I can give you some of my own metrics as well On a free

email newsletter, depending on the size of your newsletter, etcetera, your open rate will

hover anywhere You know, when you first start out, it's going to be very high It might even

be as high as 70% Once you reach a certain scale, your open rate of your emails for free

users, it will tend to hover around 15% to 30% That's just a ballpark I'm ball parking it for

you However, with your paid users, your open rates will hover between 70% and 90% ballpark

You're always going to have more people using your free stuff, and yet, your paid people are

always going to be higher on a percentage basis So I'm not surprised so far with the numbers

What else surprises you? What are your other questions?

'¥'4·1!1

People who paid for the course are not watching the course I was expecting, even the people

who paid $100 without the coupon code, they are watching 10% I keep looking at the results,

and I don't see them moving fonvard So either it's not engaging or they're just collecting

courses I'm trying to understand if, again, Udemy is the wrong place to be in

•MM"

Okay, great You just said three things and the answer to all of those questions is yes You

said, "Is it un-engaging?" Probably, yes Now again, I don't know your product I haven't

seen it But just speaking statistically, most courses are un -engaging because they don't

understand how to make it I mean, it's very hard to create an engaging course So that's

number one I'm not being personal; I'm just speaking statistically

1!-M·]!J

Yeah, sure

+;UM+

Number two, are they just collecting courses? Yes People who buy one course often buy

multiple courses That's not a bad thing, but it's been well known, for years and years, that

most people or I should say, depending on your market, many people do not complete a

course And then finally, is Udemy the wrong place to do your testing? Yes Why do I say

that? Do you have any idea?

Because first of all, I'm realizing the mentality I mean, that's my take on it The mentality

that users have out there is not the right audience for the type of online courses that we're

trying to create with your course It looks like they're more into collecting courses, learning

many different topics, and not paying, like free stuff And even if they want to pay, they feel

like it looks like an app store for courses

'¥'*"' That's correct So let's just break it down Who wins in the game that you are playing right

now?

1!-!;l·l!i

Udemy, you mean?

•MM"

That's correct That is exactly correct So who are the players There are three players in the

market right now that's in your little ecosystem You are the instructor Who are the other

Yeah To them, you're an incremental instructor Maybe, hopefully, one day, you get some

students, but if not, you're just one of many This is why I encourage you to build your own

platform You want to own the experience because right now, you have no idea Is it the

wrong audience? Are people on Udemy just cheap? Maybe, maybe not Is it the layout that's

wrong? Maybe Udemy doesn't email them every time a module opens up Maybe there are no

modules Who knows? You know, there are so many different things that could be wrong but

you will never know because you can't control the experience

This is why it's absolutely critical to build your own email list and have your own list of

people So my recommendation to you is that, you've done it a bit backwards, and that's okay,

but everything you're telling me tells me that you know the problems Like, you're being very

brutally honest with yourself and that, I appreciate You're not deluding yourself You're not

saying, "You know, they really should be doing it more." You're being honest with what the

world is So I think that I would start from the beginning Go to the market you believe is the

most engaged market, and talk to them

Do your research and you'll be able to move through this fairly quickly because you've already

identified a lot of problems, hopes, fears, and dreams, and take it in-house Put them on your

email list You've got that course material You might want to revamp it into yow· own course,

but I would not use another platform to distribute this Does that make sense?

Alright, very good Good Here's the funny thing about that question from Carol I like her

attitude She came to me, the question had all the right metrics, it was laid out properly

Honestly, it would be a little frustrating to be in Carol's place She just went through this

whole rigmarole She's not really getting the results she wants, and yet, in her voice, you

could hear it You could hear her saying, "Hey, I'm trying to figure it out." I told her, "This is

what I think." And she's like, "Yeah, okay, sounds good."

You can tell just from her reaction, she's the kind of person who is going to take action and

go and fix it Imagine another person who comes in, like Eeyore, just mopey "Uhh, it didn't

work This thing sucks I hate the Internet." I mean, who do you think is going to succeed?

It's the person who takes reality for what it is, not what it should be So I have to say I really

appreciate that Ian Q, are you there?

Hey, what's up, Ramit? Can you hear me?

i;hfuiii

Yes, how are you doing?

I'm doing great How are you?

i;MMI

Good, just turn down your speakers, please I'm getting an echo

How's that?

i;hf.!ii

Good Alright, where are you calling from?

I'm calling from Antioch, California, by San Francisco

i;hf.iii

Alright That's a very exotic destination I know it well What is a barrier that you've

encountered, a psychological barrier, through Zero to Launch?

It started to do with the I moved ahead and I was watching the videos for creating premium

content, and just basically creating videos, which, from what I understand, is the

higher-level content I have this thing where I'm like, man, I sound weird when I listen to myself I

don't think I'm very photogenic But I don't think it's about that I think it's about being able

to present your product and being able to help people People probably aren't going to care

what you look like, as long as your stuff works

l@fuiii

Good And by the way, you don't sound weird to me, at all You sound great

Hah, thanks, thank you

1@@11

Alright, what is your question tonight?

I am looking for a tear down of my idea and positioning I'm starting to create my Profit

Playbook, and before I go too far into it, I want to see if it can be vetted through your

ruthlessness So here it is My idea is to help 25 to 45-year-olds, small to mid-size recreation,

practice-based professionals with their marketing, promotion, and retention By

practice-based, those tend to be activities like martial arts, yoga, personal training The positioning

I want to adopt is I'd like to be my clients' administrative sensei, or their operations guru I

want to start simply and make their actions with a systemization and strategy

Excuse me, I am reading from something I wrote for this Let's see I want to make sure

their actions with systemization strategies and tactics are in line with the spirit of their

practice and training I want to be the alternative to aggressive, bottom-line-driven, turnkey

consultants or monthly marketing packages

i@fuiii

Okay, let's tackle this Interesting idea, interesting market You called these people

practice-based professionals so karate places, yoga studios, personal training, etcetera, and there's a

lot of these people around Would you agree that they typically don't know that much about

marketing and administration?

I would agree, yes

•MM"

Alright, so we're starting with just questioning our assumptions First of all, do they identify

themselves as practice-based professionals?

No, they don't

+;t.W"

So where did that term come from?

The term "practice" is used in the activity itself, but trying to find a market, I wasn't sure,

because I thought just going after martial arts was too small, or yoga by itself was too

small Most of them, what they have in common is that each one involves a certain amount

of practice that you put in to it My other terminology for it is "recreational teachers" But I

think that's what I need to do some more research on

'MM"

Okay, I agree You do need to get the wording right Now, let's talk about your positioning and

your market What is your positioning? You called yourself an "administrative sensei" and

an "operations guru" Very Eastern influenced and that might be how you feel But do you

think those words mean anything to them?

It depends on the particular activity I think the terms "sensei" and "guru" can resonate

Hi, my name is Ian I focus on marketing promotion and retention for membership-based

businesses I'm wondering, what are the biggest problems you're encountering right now?

i@§iii

Just cut all that You have 30 seconds, just get to the pitch

What's the hardest part about retaining your students?

1@$111

They just don't stick around

Is there anything that you're doing to make sure they stick around?

'MM"

I don't know, I don't have time for this What's your pitch?

I'd like to introduce to you some systems, some easy-to-do things, so that you can create

connections with yow· students So that before they leave or before they think about leaving,

you will know and you can be proactive about keeping them

That word doesn't mean anything It means something to you, but it's way too clever for a

business owner When you use words like that, you're asking them to go down the logical path

that you've gone and they don't know that path and they don't care Literally, the time I gave

you, I gave you two 30-second slots, and it's possible that's all the time you get Let me try to

improve your pitch right here on the spot, okay?

1!1

Okay

l;hf.lli

Try this Mr Johnson, thanks for taking the time I'll be quick I've worked with 17 other

karate dojos in the neighboring 20 miles and I've helped them increase their retention by

over 15% That means for each client I've helped, that's each dojo, they make an additional

$7000 per month I have the systems I've tested it I'd be happy to give you two pages of

references Would you be interested in hearing more? Do you see the difference?

Ohman, that's pretty sweet

i;MMII

Yeah Okay, so what I did there was I got right to the meat I didn't time myself, but I think

that was about 24 to 25 seconds I didn't talk about "dojo this" and "sensei that" because

that's too much BS You need to understand their number one burning pain, and these small

business owners, what is their number one, burning pain?

Making money? Staying open?

1m

Oh, alright

i@f.iii

Does that surprise you?

Yes, it does, but it makes sense

i@fuiii

Yeah, they are not sophisticated business owners In fact, here's something I'll tell you that

is an uncomfortable truth Most small businesses are small for a reason If those business

owners had the strategic knowledge, mental fortitude, and skill set to be able to grow them,

they would But most small businesses are small for a reason, and that reason usually comes

back to the owner So you have to treat them with respect, but you also can't offer them

something that is just Like I would not go to a 2nd-grader and be teaching him advanced

retention strategies

I'm not calling a small business owner a 2nd-grader, but I'm making the point that that's

not their number one burning pain Getting more clients in the door is You also said, "make

sure their actions with systemization strategies are in line with the spirit of their practice

and training" Based on what I just said to you, what do you think of that sentence?

That's far-out, hippie-shit right there

l@fuill

Nice, very good Alright, very, very good Love it Let me ask you the tough question, because

we could spend all day talking about your sales pitch, and stuff like that Have you validated

We went into a situation where we made some business decisions, where we were making

money But in the long term, the money that we made wasn't sustainable

Okay, let me ask you the question again Have you validated this idea?

No, I have not

'¥'&"' Okay So, what's up? How come when I first asked you that, you just said "yes"?

Well I was talking from my own experience, but that's not enough to say "it's validated"

i@§iii

Hell, no! N = 1 and N = o when your N is you You don't count You're not your market So

if you want to play this game, you've got to get out to the market I've said it many times I

would like you to go to 10 yoga studios, 10 karate dojos, and 10 of the third one, which was

personal training studios, 10 each That's when you start to really understand if people care,

or not

Make your pitch, and obviously, you can't back it up with data right now You can go in there

and do your initial research You've got all the scripts and approaches, and ZTL Go out there

and see if they really want it I think you will be surprised What do you think you will find

when you go out and test it?

What do I think I will find? I think that they may not be as interested in the subject of

retention as I am I think they're going to be wanting someone to do all of that for them, as

opposed to being taught how to do it themselves

i;hfuiii

True, and keep in mind, those are two different offerings you could offer I'll give you an

example here The classic model for information products is you can teach them what to do

That is typically like a low-value e-book You can show them how to do it, which is typically a

product, ranging from $99 to about $999· Or you can just do it for them, which is typically a

multi-thousand-dollar service or product The same is true here What you want to do is feel

out the market Are they interested in learning how? Let's just do a quick test at the top of

our heads You are a small business owner Which one are you more interested in?

Having someone do it for me

i;hfuiii

Because you don't have time to learn You don't have time for anything, much less to sit

around and learn some weird marketing stuff That is a theory Now, you can go and test that

What else do you think you'll find when you talk to these people?

I think they might value it differently

i;hfuiii

Like what? Higher or lower?

Lower

Why do you say that?

That's just my experience I think it's not as high a priority because it's not something like

you said, they are sophisticated enough to understand, so that's why it doesn't come up in

their heads enough

I ;I- gill

Yeah Well, here's what I want you to do I do want you to try it When you target 10 different

yoga studios, 10 different personal training sessions, etcetera, I want you to make sure that

you're not just targeting all the same size yoga studios Because I think you're going to find

something very interesting Let's say you go and ask five, brand new yoga studios, versus five

exploding-with-growth yoga studios

I think you're going to find a very different experience when you talk to those two types of

business owners I'm going to give you a hint; I'm going to give you two hints Number one,

it's almost impossible to change aD-student into an A-student Hint number two, small

business are usually small for a reason Take those two hints, go talk to these people Will

you commit to talking to those people?

Yes, absolutely

1;1-giii

Alright, I want you to come back, update us, even if you haven't completed 30 interviews by

next week That's okay I don't expect 30, but I do want you to get at least progress in each of

those areas by next week, okay?

You got it Thank you so much, Ramit

1;1-'$111

Alright, you got it Keep us updated Nice job

Ill

Will do

1@$111

Alright, guys Big takeaway from Ian First of all, love it, the guy subjects himself to a brutal

tear down This is how you get better No one is judging anyone here We are all in this

together Second, I asked him, "Have you validated this?" he said "yes" He started talking

about himself I don't know what he's going to tell me, what his favorite flavor ofKool-aid

is I don't know, nor do I care I cut him off I said, "Have you validated this with other, real

people?" The answer is "no", therefore, the answer to the question is "no"

You have to talk to real people, otherwise you will get carried away in, as he put it, your

hippie-dippy bullshit Alright, well said Now, we're going to jump straight back to our friend,

Kylie Kylie, are you there?

Alright, beautiful Let's jump right in You have an e-book and your expanding it into a mini

course Tell us about what your question is

i@!ij

Basically, I had my target audience as women in their late 30s, early 40s, and that was what

I had been looking at all along But as I started going through and doing all the immersion

stuff, and then my playbook, there were two other groups that came out Actually, there were

a heap of other groups, but I dismissed most of them, because I don't think they are actually

going to pay for it The first one was retirees or people who are about to retire The book is

called, "Living with Intent", it's about discovering your purpose So trying to work that out

for yourself

•MM"

Hold on, just so everyone will hear that, I'm going to read this off from your question The

e-book is about defining your why and finding your purpose Just so I can read this so

everyone knows, your target market is you, women in their late 30s to early 40s, who have

reached a point where they feel completely fulfilled and they want to make a change, but

they don't know what to change to because they don't know their purposes That was the first

market, women in their late 30s to 40s What were your other two markets?

IWJ!IJ

The other two markets that came up were retirees

'¥'*"' Okay

'31"1

Or people that are about to retire, where I found quite a few, for instance, about having a loss

of purpose when they retire and realizing that they never really knew what they wanted to

have in life

I;Uf.iii

Okay, what was the second market?

.,

The other one is men in their late 30s and early 40s This has been really interesting for me

because I haven't found anything online about this group It's only that about one-third of

the books that I've sold so far have gone to this group And I've had a few online friends who

has purchased the book and they've gone through and they've been doing it as well Also, I

did put things more in living off your passion, and there were quite a few men of that age

group in that course as well But I haven't really found anywhere online, like a fishing hole for

their line and things

•MM"

Okay, I understand What is your question?

iij!ij

My question is whether I targeted the right audience, or whether there is greater potential in

one of the other markets?

Okay My candid feedback to you is that I think you're getting it a little backwards You are

starting with your product, and then you are trying to find audiences that would buy Would

you agree with that?

l$i!!J

Yes, partially, I guess I guess because I had already worked out who my client was going to

be before I developed the book in the first place, so when I started setting up my business

in September oflast year, I went through the whole "who is my client going to be?" and

developed that perfect client type models and that was women in their late 30s, early 40s So

the book was really designed around them, and around resolving that Finally, as I've done

more investigation through this course that I've sort of gone, "Hang on a minute There are

other markets I've never even considered in the first instance." Because I never considered

them to be my ideal client

1@$111

When you did your initial research for this last year, did you go into the level of detail that we

teach in Zero to Launch?

l$i!ij

No, definitely not down to that level because I guess I had this concept in my head of the ideal

client I was looking at in the first instance So then I went to look at what their problems were

and what they were talking about rather than opening it up to, "Okay, what's the whole gamut

of what's out there? And whom could I possibly target?"

I@Mi

Let me first of all tell you this When I create a product, I don't look at every possible market

because there are just too many Plus, I don't care about a lot of markets I'm not good at

serving them I don't want to serve some of them You know, some of them are just annoying

and I'm just like, "Get out of my life I have enough annoying stuff going on in my life."

For example, I know certain markets really well, like you mentioned that you are a member of

this first market of women in their late 30s to early 40s To me, that's kind of cool You know

that market, etcetera Out of the three you gave me, just off the top of my head, I think that

the one you chose, women, is probably the most promising But I don't think that's really the

issue here

I think that what I'm getting the impression of here is that you're not solving a truly burning

problem Let me read back to you what you told me I want you to close your eyes, pretend

you've never heard this before and pretend this is someone else's idea in Zero to Launch

They're like, "I came up with this great idea." "Thee-book is about defining your why It's for

women in their 30s or 40s who have reached the point where they feel completely unfulfilled,

and they want to make a change, but they don't know what to change to because they don't

know their purpose." What do you think of that?

i$i!ij

I think there's probably a part of it, well, I know it's valid because I have had a lot of

conversations So this has come from probably about, effectively what's been a three-year

process for me I've had a lot of conversations with a lot of women who basically go through

that That is how they talk about it That whole thing of, "I don't know where I'm going

because I don't understand what I want."

i;M$111

Okay So that's good

i$i!ij

So the one thing that I've got in there probably isn't necessarily the way they talk about it So

it's more that they do talk about they feel like they're wasting their lives or that life seems

meaningless "Unfulfilled and empty" actually comes up a bit, and that came up a lot more in

the research that I did

i;h@li

Okay, let me pause you right there So let's just break down into high level what the problems

are here Perhaps the language could be improved think we both agree on that

They probably fall into two groups One group really has paid for nothing Definitely, they

have sort of gone, "Oh, yeah, well, blah, blah, blah." The majority of the others have read

books, more than anything There's only one or two that have actually had life coaches who

have helped lead them through that process

•MM"

One or two out of how many people that you researched?

l@!ij

One or two out of probably close to 50 people over the last couple of years During the

research that I've done for this, it's only been about seven and only one of them had actually

paid for a life coach

I ;I- gill

Okay, what does that tell you? And I'm not asking a leading question I'm not trying to lead

you to a conclusion I genuinely want to know, what does that tell you?

l@!ij

It tells me that it probably isn't that huge a market, like this is not the golden goose This

is going to be the mass market This is going to be, well, probably not even "mass", but this

is going to be something that people are probably not going to pay a huge amount of money

for It's something that sticks in the back of their head, and they probably, only ever likely to

spend a small amount of money on

I;Uf.iii

Are you comfortable with that? Do you want to build a business around that area?

.,

I'm sort of comfortable with what this is and what this product is, in relation to that I guess

it's because the other stuff that I'm looking at doing branches out from this and is quite

different, in that it is more practical, and far less talking about finding your why So it's far

more about improving your productivity and other improving these other different aspects of

your life

I;Uf.iii

Let me ask you that last question again, because I didn't hear the answer to it Are you

comfortable building a business around something that seems like a minor tooth pain,

rather than a throbbing cavity that they wake up in the morning and feel and would do

anything to solve?

l@!ij

•MM"

So what's up? Because we're hearing a bit of a dichotomy I just laid the foundation for several

questions, and I have to underline the fact that I'm not trying to lead you any direction If

you had said "yes", then I would have wholeheartedly helped you build this business

But you and I both agree that this doesn't sound like it's a huge pain for women, and that

they haven't overwhelmingly paid to solve it, at least in your research And so you're not

comfortable building a business around that So, has anything changed on this call, so far?

Tell me where you are right now?

Alright, here's what I think I think that you already have an e-book, and you're like, "Oh, it's

not going to take that much work to turn it into a course I'll just pick a market I had this

market, but now I have these other ideas, so Ramit,just tell me which market to choose."

And I told you, I actually think that, of the markets you offered, the market you've selected

is best, but I think that the idea is not properly researched First of all, I agree that a lot of

women feel this way Okay? And I'm not going to quibble on the language I think you know

it better than I do, but their behavior proves that just because your market responds to your

language, that doesn't mean that it's a good business idea You want to find the burning pain,

the thing they think about every day of their lives Right? We talked about this

When it comes to women, I have many examples in the course Frizzy hair, dressing

appropriately I mean, anything relating to beauty, etc., etc., etc., okay And there's a million

other things, stuff in the career world, etcetera But this one, you may certainly be able to

find an area around it I'll give you a very simple example You might redo the research and

you might say, "You know what, I'm going to come up with the 40-Day Plan at 40 This is for

women who are in their early 40s, and they need to rejuvenate and revitalize, and revamp

their lives in health, wealth, and love." Whatever, I'm just making this up But do you see how

that's very different than this kind of weird, life-coachy type language of "unfulfilled", etc.?

iij!ij

Yep

i@f.iii

Okay, I don't know if that's a good idea I have no idea, but I do think that this idea, as it

stands, is a dull toothache It's not a burning cavity And you could build a fine business

around this, but in my experience, you will find yourself struggling It will happen six, eight,

ten months from now You'll have a website, you'll have done this course, and all this stuff,

and you will send out email after email and you'll get these responses, pru·ticularly from

women, who will say, "Yeah, this is so great that you're doing this! The world needs more of

this!" And guess what they will never do?

l:fl!lj

Pay for it

•MM"

They will never pull out their credit card They will do what's called "verbal tipping" I

learned this It's when cheap people go out to eat, and they are effusive in their praise

towards waiters "Oh, waiter, you did an amazing job Waiter, you're so prompt Waiter,

you've been the best." And then they give a $2.16 tip That is verbal tipping Do not get in that

market Do not focus on people who will verbally tip you! Spend the time now, identify the

burning pain Once you do, you will never remember how much time you spent But for years

and years to come, people will say, "Thank you for creating this How do I pay you?" Alright,

I'm going to pause there and see what you think What do you think?

•:td'J

Yeah, I think, well, I think it's really valid Like I said, this is the first of a series of products

that I was looking at But I can see how it's probably not the best thing to launch from, really

Yeah

l:fl!lj

And there should be something a lot more relevant to where I actually want to be, and more of

that burning-pain type thing So yeah, it's not very relevant

•MM"

Okay, give it some thought The good news is I see a lot of promise in the words you're using

Some of the stuff you're saying to me in terms of your target market, at this age they feel

unfulfilled, purpose Those words do speak out to me I do think that with a little bit of

tweaking and a lot of research, you could improve that and you could find something that

would be 100 times better

I just want to remind you before we get off the call today, the difference between good

positioning and great positioning can be 1000 times different Just to give you a perfect

example I had acow·se, my email e-book, and my positioning was horrible It was "How To

Write Cool Emails", or some stupid I could not figure out how to do it It literally sat on the

shelf for about a year and a half to two years, and then I was just stuck on it I was too close

to it And I talked to another positioning expert, Tim Ferriss, and he goes, "No, no, no, no,

no." He goes, "How To Get the Ungettahle, Win the Unwinnahle, and Reach Anybody", or

something like that

I was like, "Wow, perfect" The difference between the two, had I actually launched that other

substandard positioning, I mean the difference would have been measured in the hundreds

of thousands of dollars I am very confident in saying that So don't feel rushed Do this right

Go back and do the research It will be worth it every day, for the rest of your life Okay?

.,

Excellent, thank you

•MM"

Alright, you've got it Keep us updated Alright, very good, very good You know, I have to

say, I do admire Kylie's take on that She came in with a very specific, tactical thing, and I

kind of disrupted her question, discarded her question, and then presented her with a whole

different world view Sometimes, that is not what you want You just want someone to give you

the short answer But unfortunately, as your surrogate Asian father, I refuse to just give you

the scoped-down answer I want to give you the answer that really matters, okay

When I took high school, we had a driving class, or whatever, where of course, we did no

driving We just learned about cars One thing that we learned from our auto teacher was, if

you go in to the fix-it place, don't tell the guy, "I think I've got a problem with my carburetor."

No, let him do his job Don't walk in and scoped-down what he's going to tell you He's the

expert So walk in and say, "I hear a ringing in my engine I have no idea what it is Can

you please tell me what's wrong?" Instead of saying, "I think it's the carburetor." Which

instantly, you've just narrowed down the scope of everything he can think about Consider

that as you go forward in your analysis, both with your students and with other people

Okay, we're going to go to Jason L Jason, are you there? Jason? Okay