How A Little Short Guy, Terrified of Selling, Started A Business From Scratch At Home And Made $78 Million
By
Marlon Sanders
"So Marlon, how did you like the swimming pool?" he asked me.
"Walter, what swimming pool?" I whipped back.
He said, "You open the door in my bedroom and itgoes into a room with an Olympic-sized swimmingpool that belonged to FDR."
FDR stood for Franklin D. Roosevelt, the famedPresident that got America out of the greatdepression, according to many historians.
Anyway, I opened the little side door in Walter'sbedroom and sure enough. After you walked throughthe spa room, there was another room with thisolympic-sized swimming pool in it. And you could see the steps and the rail FDR used to lowerhimself out of his wheelchair into the pool.
You know you're doing OK on money when you have anex-President's pool in your bedroom.
Walter had built a new house. So I was stayingin his bedroom in the old one. My purpose therewas to write sales letters for him.
Back in the day, I charged per page.
Copywriter's today would make fun of charging perpage.
But they don't get it.
Back in the day, there were precious FEW copywriters.You could charge however you wanted. My fees at thetime were in the top 5% or 10% of all copywriters.Not that I had a LOT to compete with. So here was this little short guy. Walter "ItsyBitsy" Hailey. He started out as a failure in sellingand ended up making 600 million via a few businesses.
His FIRST successful business sold for $78 million,even though the actual "earnings" of the business wereonly a few million. He always told me he started it athome from scratch. Of course, he quickly outgrew his homeand moved to offices and all that jazz.
Why? Because a really large company stood to make asmall fortune from the lead generation system he'dassembled.
THAT is how valuable a lead generationsystem is. In essence, this company paid $78 millionfor not much more than a lead generation system! Was it worth it to them? Sure was. They stood tomake many more millions from it on a yearly basis.
But all his success boiled down to one thing --having a SYSTEM for selling stuff, whatever it was.
Notice I didn't just say "being a great sales person."
You don't build billion dollar businesses by sellingeverything yourself. You create a SYSTEM for sellingthat's a whole process.
Once you get that System down pat, you can bring insales people on salary or commission (or both) todo the selling for you.
Lead generation on a consistent basis separated Walterfrom everyone else. He created Systems that generatedtons of leads. All sales people want qualified, warmleads more than anything else.
If you have warm, qualified leads (interested people)then the sales people will come.
One time Walter and I took a walk outside his ranchhome up the somewhat steep hill there. I fired questionafter question about his lead generation System.
I could write a book or two on what I learned fromWalter.
But the main thing is that a sales machine does NOTrun without a steady flow of leads.
Here are a few common mistakes people make in puttingtogether their lead generation System:
1. Failing to identify the hot buttons of the targetaudience.
You can't get people into your marketing funnel unlessand until you know what turns them on. Walter knew the hot buttons of his audience inside and out. Thisis step one.
Just as an example, when Walter spoke at conventions for dentists, he offered a freebie report on a superhot topic if they'd just give him their business card.Almost everyone did because he KNEW their hot buttons.
2. Failing to know in advance the OUTCOME you wantwhen someone enters your marketing funnel.
Walter had a clearly defined path his prospects wouldgo through.
Where are they going? What actions are they going totake? How are you going to get them to buy progressivelylarger amounts over and over?
3. Trying once or twice to get people into your marketingfunnel and then giving up.
Success results from testing and tracking a variety ofpossibilities over and over. Walter used inbound salespeople for this. But in other businesses, he used outsidecommission sales people.
4. Not knowing in advance the "marketing play" you'rerunning.
Are you targeting people who are underserved? Overserved?Non consumers? Are you playing offense? Flanking moves?Guerrilla tactics?
5. Using feast or famine lead generation techniquesthat leave you high and dry after "the big event" is over.
Walter lived and breathed lead generation, just as youshould. You just can't set up too many lead generationsystems.
One thing Walter did in his seminar business for dentistswas tons of public speaking. This crude lead generationmethod takes a lot of work but he did it all the timebecause he knew how critical a constant flow of leads wasto that particular business.
6. Failing to split test many variations of your namecapture "squeeze" page until you get 50% or more to joinyour list on a consistent, routine basis.
7. Failing to have a pre-planned, tested follow upsequence in place.
Now, that may sound like a daunting task. But a friend ofmine just totally rebuilt his marketing funnel since Januaryof this year. He anticipates doing $70,000 this month, allfrom consistent, steady lead generation, without productlaunch mania.
He anticipates being able to ramp up his funnel to $100,000a month within 6 months. And this guy has been involvedin Internet marketing for only 2 years, more or less.
What's his secret?
Focus on lead generation, Systems and the marketing process.
Just consistent, steady, routine Systems in place.
Who do you want to target?
Why do you want to target them?
Do they have money to buy?
What will you offer them as a freebie to GET them into yourmarketing funnel?
What marketing sequence will you follow up with to get themto buy?
What are YOU focusing on?
Have you been focusing on finding places your target audiencehangs? Creating offers that get them on your list? And thena sales process or sequence that gets them to buy progressively larger dollar amounts from you?
Some people hesitate to sell larger dollar amounts.
I can tell you from a great deal of personal experience thatpeople will benefit VERY LITTLE from things they pay little for. Psychologically, they don't value or respect the information.
It's why I'll be drastically increasing the price (and value) ofmy Ateam calls shortly. At the stupid cheap price of $37, I can'teven get my members to show up on the calls.
Why?
Flat out I'm charging too little. You don't value what you don'tpay much for. You need to realize this and get bold about chargingyour customers what your products and services are worth -- withoutguilt.
If you don't value what you sell, how is anyone else going to valueit? I'm NOT saying charge for shoddy products. It's a given thatyou sell quality products and services.
But don't be shy about charging for what you sell. Of course, youhave to learn the marketing SKILLS that allow you to GET PAID forthe great value you offer.
One of my friends used to sell a seminar. He had to raise theprice to $5,000 before he could actually get people to DO what theylearned.
Any price less than that and they didn't value the info enough to actually do it. They just viewed it as somethinginteresting to think about.
Again, people don't respect and value what they don't pay for. Markit down. Repeat it as your mantra.
You know that whole thing about"move the free line?" Yeah, it's true -- on your initial marketing funnel. You gotta do whatever it takes to get people INTO your funnel.
Once they're there? Charge 'em. Seriously. If you don't "getthat" then you really don't understand how the human brain works andyou've got a lot of learning about marketing, psychology and the human brain to do.
Now, if you don't care what people do, or if you don't care if they benefit, then yeah, sell your stuff for a songand a dance and be done with it. You won't help that many peoplebut you'll get lots of compliments on how cheap you are.
So what secret did Walter have others didn't?
1. He built lead generation machines.
His Systems generated thousands and thousands of leads from hot,interested prospective buyers (what we in the biz call "prospects).
2. He charged a fair but substantial price for what he sold.
There's a saying that the trick to having money is to get peopleto buy from you, or something like that.
I think it was Zig Ziglar who said poor sales people have skinnykids.
3. Walter had a passion for learning
There's this odd balance between buying information and doing.
If all you do is buy, buy, buy and you never DO, then you're onthe wrong path.
At the same time, you'll find out that Charlie T. Jones spoke the truth when he said, "Leaders are readers."
You gotta balance learning and doing. You need BOTH wheels onyour marketing machine.
ACTION STEPS
1. Find out who you want to target with your offer.
2. Make an enticing offer to get people into your marketing funnel.
3. Create a lead generation machine to send lots of people intothat marketing funnel.
4. Assemble your follow up system to get people to buy from you.
5. Charge for the value you create. Don't undersell yourself.
6. Split test the living daylights out of your lead capture page!
7. Sell progressively higher-priced products with matching greatervalue and service.
Check out all my products here:
Click Here Now!
Resources for continuing education
(If you want to post this ENTIRE ezine, you can replace the
following links with your RESELLER links)
1. Save 100's on graphic design. FREEBIE report:
Click Here
2. The big picture of how a marketing process or system operates:
Click Here!
3. How to create your lead capture pages and follow up sequence:
Click Here!
4. How to create info products, so you have something to sell
Click Here!
By
Marlon Sanders
"So Marlon, how did you like the swimming pool?" he asked me.
"Walter, what swimming pool?" I whipped back.
He said, "You open the door in my bedroom and itgoes into a room with an Olympic-sized swimmingpool that belonged to FDR."
FDR stood for Franklin D. Roosevelt, the famedPresident that got America out of the greatdepression, according to many historians.
Anyway, I opened the little side door in Walter'sbedroom and sure enough. After you walked throughthe spa room, there was another room with thisolympic-sized swimming pool in it. And you could see the steps and the rail FDR used to lowerhimself out of his wheelchair into the pool.
You know you're doing OK on money when you have anex-President's pool in your bedroom.
Walter had built a new house. So I was stayingin his bedroom in the old one. My purpose therewas to write sales letters for him.
Back in the day, I charged per page.
Copywriter's today would make fun of charging perpage.
But they don't get it.
Back in the day, there were precious FEW copywriters.You could charge however you wanted. My fees at thetime were in the top 5% or 10% of all copywriters.Not that I had a LOT to compete with. So here was this little short guy. Walter "ItsyBitsy" Hailey. He started out as a failure in sellingand ended up making 600 million via a few businesses.
His FIRST successful business sold for $78 million,even though the actual "earnings" of the business wereonly a few million. He always told me he started it athome from scratch. Of course, he quickly outgrew his homeand moved to offices and all that jazz.
Why? Because a really large company stood to make asmall fortune from the lead generation system he'dassembled.
THAT is how valuable a lead generationsystem is. In essence, this company paid $78 millionfor not much more than a lead generation system! Was it worth it to them? Sure was. They stood tomake many more millions from it on a yearly basis.
But all his success boiled down to one thing --having a SYSTEM for selling stuff, whatever it was.
Notice I didn't just say "being a great sales person."
You don't build billion dollar businesses by sellingeverything yourself. You create a SYSTEM for sellingthat's a whole process.
Once you get that System down pat, you can bring insales people on salary or commission (or both) todo the selling for you.
Lead generation on a consistent basis separated Walterfrom everyone else. He created Systems that generatedtons of leads. All sales people want qualified, warmleads more than anything else.
If you have warm, qualified leads (interested people)then the sales people will come.
One time Walter and I took a walk outside his ranchhome up the somewhat steep hill there. I fired questionafter question about his lead generation System.
I could write a book or two on what I learned fromWalter.
But the main thing is that a sales machine does NOTrun without a steady flow of leads.
Here are a few common mistakes people make in puttingtogether their lead generation System:
1. Failing to identify the hot buttons of the targetaudience.
You can't get people into your marketing funnel unlessand until you know what turns them on. Walter knew the hot buttons of his audience inside and out. Thisis step one.
Just as an example, when Walter spoke at conventions for dentists, he offered a freebie report on a superhot topic if they'd just give him their business card.Almost everyone did because he KNEW their hot buttons.
2. Failing to know in advance the OUTCOME you wantwhen someone enters your marketing funnel.
Walter had a clearly defined path his prospects wouldgo through.
Where are they going? What actions are they going totake? How are you going to get them to buy progressivelylarger amounts over and over?
3. Trying once or twice to get people into your marketingfunnel and then giving up.
Success results from testing and tracking a variety ofpossibilities over and over. Walter used inbound salespeople for this. But in other businesses, he used outsidecommission sales people.
4. Not knowing in advance the "marketing play" you'rerunning.
Are you targeting people who are underserved? Overserved?Non consumers? Are you playing offense? Flanking moves?Guerrilla tactics?
5. Using feast or famine lead generation techniquesthat leave you high and dry after "the big event" is over.
Walter lived and breathed lead generation, just as youshould. You just can't set up too many lead generationsystems.
One thing Walter did in his seminar business for dentistswas tons of public speaking. This crude lead generationmethod takes a lot of work but he did it all the timebecause he knew how critical a constant flow of leads wasto that particular business.
6. Failing to split test many variations of your namecapture "squeeze" page until you get 50% or more to joinyour list on a consistent, routine basis.
7. Failing to have a pre-planned, tested follow upsequence in place.
Now, that may sound like a daunting task. But a friend ofmine just totally rebuilt his marketing funnel since Januaryof this year. He anticipates doing $70,000 this month, allfrom consistent, steady lead generation, without productlaunch mania.
He anticipates being able to ramp up his funnel to $100,000a month within 6 months. And this guy has been involvedin Internet marketing for only 2 years, more or less.
What's his secret?
Focus on lead generation, Systems and the marketing process.
Just consistent, steady, routine Systems in place.
Who do you want to target?
Why do you want to target them?
Do they have money to buy?
What will you offer them as a freebie to GET them into yourmarketing funnel?
What marketing sequence will you follow up with to get themto buy?
What are YOU focusing on?
Have you been focusing on finding places your target audiencehangs? Creating offers that get them on your list? And thena sales process or sequence that gets them to buy progressively larger dollar amounts from you?
Some people hesitate to sell larger dollar amounts.
I can tell you from a great deal of personal experience thatpeople will benefit VERY LITTLE from things they pay little for. Psychologically, they don't value or respect the information.
It's why I'll be drastically increasing the price (and value) ofmy Ateam calls shortly. At the stupid cheap price of $37, I can'teven get my members to show up on the calls.
Why?
Flat out I'm charging too little. You don't value what you don'tpay much for. You need to realize this and get bold about chargingyour customers what your products and services are worth -- withoutguilt.
If you don't value what you sell, how is anyone else going to valueit? I'm NOT saying charge for shoddy products. It's a given thatyou sell quality products and services.
But don't be shy about charging for what you sell. Of course, youhave to learn the marketing SKILLS that allow you to GET PAID forthe great value you offer.
One of my friends used to sell a seminar. He had to raise theprice to $5,000 before he could actually get people to DO what theylearned.
Any price less than that and they didn't value the info enough to actually do it. They just viewed it as somethinginteresting to think about.
Again, people don't respect and value what they don't pay for. Markit down. Repeat it as your mantra.
You know that whole thing about"move the free line?" Yeah, it's true -- on your initial marketing funnel. You gotta do whatever it takes to get people INTO your funnel.
Once they're there? Charge 'em. Seriously. If you don't "getthat" then you really don't understand how the human brain works andyou've got a lot of learning about marketing, psychology and the human brain to do.
Now, if you don't care what people do, or if you don't care if they benefit, then yeah, sell your stuff for a songand a dance and be done with it. You won't help that many peoplebut you'll get lots of compliments on how cheap you are.
So what secret did Walter have others didn't?
1. He built lead generation machines.
His Systems generated thousands and thousands of leads from hot,interested prospective buyers (what we in the biz call "prospects).
2. He charged a fair but substantial price for what he sold.
There's a saying that the trick to having money is to get peopleto buy from you, or something like that.
I think it was Zig Ziglar who said poor sales people have skinnykids.
3. Walter had a passion for learning
There's this odd balance between buying information and doing.
If all you do is buy, buy, buy and you never DO, then you're onthe wrong path.
At the same time, you'll find out that Charlie T. Jones spoke the truth when he said, "Leaders are readers."
You gotta balance learning and doing. You need BOTH wheels onyour marketing machine.
ACTION STEPS
1. Find out who you want to target with your offer.
2. Make an enticing offer to get people into your marketing funnel.
3. Create a lead generation machine to send lots of people intothat marketing funnel.
4. Assemble your follow up system to get people to buy from you.
5. Charge for the value you create. Don't undersell yourself.
6. Split test the living daylights out of your lead capture page!
7. Sell progressively higher-priced products with matching greatervalue and service.
Check out all my products here:
Click Here Now!
Resources for continuing education
(If you want to post this ENTIRE ezine, you can replace the
following links with your RESELLER links)
1. Save 100's on graphic design. FREEBIE report:
Click Here
2. The big picture of how a marketing process or system operates:
Click Here!
3. How to create your lead capture pages and follow up sequence:
Click Here!
4. How to create info products, so you have something to sell
Click Here!
