Are you trying to introduce a revolutionary and game-changing product or service to the marketplace? Clay and Z explain why great companies like FedEX, ESPN, AOL and Amazon often take almost a decade to become profitable.
Concept #1: If you have a revolutionary idea it will probably take a decade for the world to catch on.
Step 1 – Find out how many customers you need per month to break even.
Step 2 – How many hours per week are you willing to work on your business?
Step 3 – determine your unique value proposition.
Step 4 – Get your branding to a level that is as good as your idea.
Step 5 – Launch Your 3-legged Marketing Stool
Step 6 – You Must Be Consistent with Your Advertising
All right, thrive nation. I want to start off today’s show with a big shout out to Tammy in Florida. Now, Tammy, I’m not going to give away the secrets of your idea. Do you have any? Tammy’s are in Florida by the way. Three. Did you do the research I wouldn’t want to do and I want to do is I want to bring up my partner and friend Dr Robert Zellner on West Carter, the, uh, his, his law firm, winters and king is that the attorneys have choice for Sam right there. Joel Olsteen, td Jakes, Craig Rochelle, Joyce Meyers, and the renowned business coach. Eric chupp butter job because we care. And Tammy, you and I had a great conversation today and I want to follow up with a specific path to help you. And if it’s okay, Tammy, I want to give you some uncomfortable truth. We talked about it on the phone, but I think for a lot of listeners this might be unnerving. And so here we go.
Breaking it down. Now, here we go.
So tammy, you have an idea that is revolutionary in chip. I want to put this on the show notes. This as kind of concept number one, if you have a revolutionary idea, it will probably take a decade for the world to catch onto the idea. SoZ , I want to so long. Well, I want to read a notable quotable from Steve Case who introduced America to the Internet. Steve case is the founder of America Online. He says this, all great ideas start as weird ideas and now they seem obvious early on, it is not obvious to anybody. Uh, he goes on to say, I am only interested in big ideas that are not easy to execute. They take a long time to get going, but when they do, you can see the light at the end of the tunnel showing you how they can become big game changing businesses and therefore good business coach investments, most important, they could become transformative forces in terms of improving people’s lives. A Z. If you’re going to be out there and you’re going to introduce, let’s say, America to the concept of the Internet z, do you remember when aol was mailing those cds to your house? They would give you free aol discs of free month of Internet. When you. When you bought, when you. When you rented a movie from blockbuster video to date myself, they would give you a free month of Internet at blockbuster. I mean, aol was a crazy idea.
It was. I remember when I was sitting here thinking. I remember when I remember when I remember I lost.
I remember when I was here to thinking email, try to get my head wrapped around, email it for Eric. Man, you’ve got mail, you’ve got mail, you’ve got mail. It was such A. I thought, how do you. How on earth do what? What is going on here? And it took me a little bit of time to get my head wrapped around it. It was a new concept is a new thing. It’s when snail mail was just male. I remember when you actually wrote a letter with your hand. I don’t know. You’re talking about a pencil or a pen or paper. Franklin, you probably don’t even know what paper is. Just a pill. Did you dip it in? I had real quick before you explain to us what paper and pen is. Yes. I have a thought.
Surely you can’t be serious. I am serious
and I’d be headed to a young man on a pony. He was the pony express and he would ride through town delivering said messages. I don’t know what you’re talking about it. I know you’re getting constant phone used to be plugged into a wall. You guys are too young to know these things. He wrote a ride in a car without a seatbelt, so there’s a video. Watch it from a couple of weeks ago. Teenagers trying to use a rotary phone at Tara. So hot. So you. You remember though, trying to introduce America to America Online and how sad and how long of a road. I mean, Steve Case says, he says it took him 10 years. Ten News America to the concept of America on line. I thought it was a decade, but I guess it’s 10 years now. Close this first list, so tammy has an idea and I want to share with you her idea.
Her idea is to help keep people from being scammed when they’re out there buying big purchase and I want. I don’t want to give her a big idea way here, but she’s saying a lot of times people make big purchases big and after they make the purchase, they find out they got scammed and so she wants to help keep people from being scammed. Okay, that’s fair. And on the phone today, I explained to her that, okay, so in chip, I want you to walk. You want, want you to type down the steps here that the steps for, for, for Ms Dot Tammy, I’m the steps we went over was I told Tammy, we gotta figure out how many customers, step one, determine how many customers you need per month to break even and Z. Tammy said she needs 500 customers a month to break even. Z. Why is it so important for every listener out there to know how many customers you need per month just to break even? Listen, entrepreneurs out there who know thy numbers,
just let it sink is so good, so just soak that up just so good, but I’ll say it again this time with hopefully some echo help from my friend Gustino Gustaf entrepreneurs, business owners, no number because if you don’t, you’ll be back working at Mickey d’s
Taco Bueno, which is actually my favorite fast food. You. I don’t want to argue, I mean French fries for Taco definition. It’s good, but what we’re saying out there is that if you don’t know your numbers, you’re going to lose by default. So we went over the numbers and 500 is a lot of customers to get and she’s gonna. Bring it about $19 per customer. Now the next, the next question, I asked her step two, as I said, be realistic and write down the number of hours per week that you’re willing to work on your business. And she said about 25 to 30 hours per week is how much time she had been fine working on your business, clay, because I’m going to have to listen. Going well, she has a job. She has a different job. Okay. There you go. Just saying the most amount of time I have free after my other job is about 25 to 30 hours per week.
Now if there’s anybody out there who owns a business and they have to. Let’s say you’re a plumber and you have to do a certain amount of jobs per week to pay the bills. Working on the business is all about creating the systems and the processes that will allow you to scale there. You as an example, John Kelly today, one of our Jonathan leaders that drive time. Should I come? He knew me three documents today that will definitely take at least 10 hours of my week for me to fully digest into modify the ideas because I have to think deeply whenever you franchise something, you have to sell the same thing over and over and over again over. They want to get it right the first time. So once I want to tap into your wisdom about this with winters and king, you’re an attorney. Um, you guys were in demand and you’re very busy writing legal agreements, ratifying legal agreements, advising people. What does it mean for you to work on your business versus working in the business at winters and King?
Well, it’s easy. I mean it’s, it’s, it’s hard. I charge many attorneys charge by the hour and so if you’re not sitting behind your desk working, you’re not, you’re not making money. Right? And so you have to be careful not to just become a busy bee stuck behind your desks because there are so many other things you have to do to look at advertising and employees and systems and procedures and growth and things to make sure that you’re not just dying on the vine and less. I actually, I worked with West on his business and so some of the things we’ve been working on is following up on ad, seeing how many clicks we’re getting, how many leads are coming through the script together to find out are you recording calls with their winters and King? No. Chuck trying to convince me and I told him that his arm twisted. Kadesh, can I ask you, may
I ask a personal question? Do you prefer the term attorney or lawyer? I prefer master of the universe. Cow. As it comes to your job though? No, we really don’t care. I’ve never met an eagle that’s never met an attorney that said, hey, you call me attorney. Not Lawyer. You wouldn’t want to hire that guy. Really the only thing we’re worried about is that we have doctorates, but we don’t get to go by Dr. that’s going to start calling you doctor. Dr Carter with a juris doctorate. That’s right. You didn’t call you Dr. Wes. You May. Okay. I’m gonna start calling you Dr Lewis. Why do you think that is? Um, I think it’s discrimination. It is really, it is the, uh, the, the medical science make the rules. So, I mean, why wouldn’t you? You’d think so. I know they interpret the rules as well. Thank you.
All right. I think we must have given that one away very early. Well, you guys have to work on. So there you go. Now Tammy, this next step I want to make sure shop takes note. Note of here on the thrive time show.com notes here. By the way, for all the listeners out there on every single show, we always put the show notes on thrive time show.com so you can look up and verify what we’re stating or or find the transcripts of each and every show. So the next, the next step here that we talked about today was it’s a very important for you to determine your, your your unique value proposition, which I believe for you is scam prevention you want. That’s what you’re all about, is helping people prevent themselves from being scammed. You’re helping protect people about being scammed. Now the next business coach step is you want to get your branding to a high level that looks as good as your idea talking with you today.
I mean your idea sounds great, but the branding is so important and I want to. I want to go around the table. I want to get [inaudible] take on this and then West has take on this and chips take on this, but branding is so important because I’m Michael Levine, and we’ll put this on the show notes, but Michael Levine, uh, one of our thrive time show mentors and one of our radio show guests, he has talked about this thing called the tiffany theory for decades. He’s been the PR consultant for Michael Jackson for Nike, for print, for Pizza Hut. And he says that people judge something based upon the way it’s presented. So if you give somebody a piece of jewelry and you present it to them in a tiffany box, then people are going to perceive it with a higher value. So imagine you got down on a knee and you propose, you propose to a, you the lady of choice to your fiance.
You said, Hey, will you marry me? Well, you, but you bought a tiffany ring. Yes. And the tiffany bring you, put it in a kmart bag because you lost the tiffany box. Oh my gosh, I can’t find things. But you just happened to be one of the first customers ever to go into a kmart this month. She went into a kmart and your bag is sort of a. found it rolling the highway. It’s sort of a commemorative collector’s item. They’re like, we’ve never had somebody take one of these homes, flooded on Kmart bag, and you just put the tiffany box into kmart bag. If you present it to a virtuous lady, you get down on one knee and you said, will you marry me? And you pull the ring out of a tiffany Noda. No. You pull it out of a kmart bag. How’s it going to be perceived differently when you pull it out of a kmart bag versus a tiffany box?
It’s. You’re a cheap. I mean it’s perception is a lot and when you’re running the business, when you are trying to put your best foot forward and you’re trying to put out a certain persona when you’re trying to put out a certain say vibe.
Whoa, Whoa, whoa. Can I say vibe? It’s kind of a. it’s a four letter word, is it?
I don’t know what you’re talking about. Pay every time you say, Bob, I thought you. I mean you can eat that ice cream cone, Chub, Chub. I just want that to milk. Oh yeah. Jeff, you and I love you. And I was in his hot tub and I just tell you, let me have one last victim. That option.
It’s branding. It’s all about branding, right? And that’s what we’re talking about here. We’re talking about branding. Nobody wants to have a lick of an ice cream cone that’s already been eating on by somebody else with another random dude in a hot tub. You’re right, random, but chicks out there jewelry come in the blue box instead of a k bar bag, right? Because it’s about branding. It’s about perception. It’s about the realities of what they think when they’re going to go out there and use those diamonds to, to cut metal. No. Z. What is the purpose of women having massive diamond rings? They know they’re loved. KP. Cow. Seriously it why?
I’ll tell you why that shows. Here’s the thing about it is right or wrong folks, we put try not to. I’m not trying not to sound to not do it. Oh, they’re showing up for the girls. Well, I’m trying. I’m trying not to sound to that, but you know, here’s the deal. You put your money into things that you value. If you value your glomming, you’re going to get her a and if you have money, you’re going to get her a bigger diamond. You’re going to get her a nicer diamond about, hey, this rule, it is, it is. It’s the way it is.
Oh, and a buyer like a wardrobe or take her on trips. Yes. Guy On 40 trips to celebrate on my love. Why don’t we have to buy a diamond ring, which I, by the way I did trips. Here’s, here’s the thing, I agree with you though.
Here’s the thing, because that’s a gift and you give it to them and no matter what happens, the thirst for the rest of their life and they know at that moment that you cared enough. Second, your hard earned money because
I have a microphone in my head and I want to play what I just thought.
Like I picked the wrong week. Quit smoking, quit drinking like I picked the wrong week.
That’s a lot to handle at. This is reality. It’s a reality of quality of life and, and it, it all goes back to the saying that this clay, if you want another truth that all goes back to this
talk is cheap frack frick, frick that, that rule is terrible. No, it’s not. Speak Louder than words. Oh billy,
that’s right. And so when you go and you take your monies and you buy them, the diamond is to buy the diamonds out there. So did you buy them? If you give it to me, you couldn’t make them to. The kid refused. He said them again. You need. You say, you know what? Let’s do this thing. It’s about the thing. Okay. But the thing about that list and say, why do we have to spend so much money on type and said, why can’t we focused on things like kids to be as well? Can we focus on like cod tables? What? Can we just get a card table and chickens in the backyard and a pool? Yeah.
Every woman’s is awesome as my wife. Well, you’re right about that after I bought the diamond rings. Yeah, you’re right. I did buy that. But she’s a very low needs, low maintenance. But, but the diamond did help. I mean, you’re, it’s the move and you have to deal with them. So for Tammy, you’ve got to get your website looking good. Your logo has to look good, your website has to look good, your print, anything people see has to look good. Now we’re talking about the three legged marketing stool for Tammy. And this is the part I talked about today and I know that she received it very well. She’s a great lady, but I want wes to break this down. I want at West his take on this and take on this. She’s introducing a new idea into the market place. Yeah. That hasn’t been introduced before.
Okay, cool. Go. So I said, hey, you’re gonna have to run Youtube ads. So anybody’s looking to buy a certain purchase, you need to run your ads so that your ads come up as avoid being scammed by this. So as an example, let’s say tammy worked with, um, you know, uh, uh, online furniture stores, you know, if you typed in by online furniture, her ad route come up, avoid being scammed by online furniture stores, learn more at. And then the basic of the tagline was for $19 you could save thousands of dollars, but z at the auto auction you guys use, I’m sure a Carfax or something else to verify that cars haven’t been stolen before. You sell them at your auto auction. So there, there’s a, a value in anti scam services. Um, but zee, Zee, do you mind sharing with the listeners out there for the auto auction, or at least in a broad term, do you, who do you guys use to verify the cars have not been stolen or to check the cars?
They’re there, their accident history. Do you have a, do you use a service like that or to you explain maybe the kind of service you use? Yeah, we, it’s kind of a Carfax deal. And so it’s the same thing when we, when we put the sticker on the windshield and we have a barcode about the car guys have apps that they could come up and scan that Barcode and then it tells them the history, that car. So why do you pay for a service like that will because it’s good for people. But how long has that service that you’ve used been in business man? How long did it take for you to discover who they are and to convert to them? I mean, if you don’t have to be a while. I don’t know how long they’d been in business to be honest with you.
I mean we got to be last five years. Yeah. They’ve been in business for a long time and they’re very reputable. And someone like Tammy were to call you and say, Hey, I have an anti scam organization that can help you to help prevent you from being scammed in this particular organization. I mean, her website better be looking hot. Yes. Gonna have a lot of testimonials. Yes. A lot of reviews. Yes. And she probably have. How many times would you, would you have to pitch to a company like yours before you would even consider it at this point with where you’re at with the auto auction? I mean, how many times do you have to be pitched for for you to at least consider even looking at finding a different company to verify that your cars were. In fact, I’m not stolen in good standing.
That good records. I mean, how many times would someone have to pitch to you before you would even consider it? It depends on the cost she comes in at and it also depends on the things you just said, but probably a couple, three times. I mean, she’d have to be repeated. Wouldn’t have to be a first time going, oh God. Oh, absolutely. I told Tammy, I said, Tammy, if you’re going to do this business, you’re going to have to commit to your idea for probably a 10 year horizon and probably around year one or two you start to get some hits, so want to get your take on this west. How many clients do you think about your clients where you’ve met them? Five years ago, six years ago, seven years ago, for the first time, and now they’re nothing that they’ve just become clients in the past year. I mean, can you think of business coach situations where you’ve met somebody two years ago, three years ago, and then it took 24 or 36 months of marketing or just staying in touch with them before they became a client? I mean, is that abnormal? Because a lot of people think, man, that’s got to be abnormal to talk to somebody for a couple of years before they broke his. An attorney is a big decision. If you’re going to have to change, I would say this. I mean I would, I would use you, um, without reservation for anyone out there listening West Carter, my attorney of choice, Dr William. But how long does it take for you to win over some? It’s a big decision to switch to an attorney.
It is, and sometimes you’re looking at cultivating that relationship. So it’s a dinner, it’s a, Hey, I see you at an event. It’s sometimes it’s three years, sometimes four years. You’re seeing each other. And if, because it’s, you’re, you’re hoping for, they already have someone providing that product or service already, but at some point they’re going to get annoyed. Oh yeah, you were not happy with that person. They’re going to think, you know, what, what’s does that,
why don’t I call West instead of dealing with this full here? Um, and so it’s just, it’s developing those relationships being consistent, top of mind, right? Top of mind where your, whether it’s your advertising or your personal relationships that you stay in front of them so you can reap the benefits later on down the road. So I want to get your take on this because you work with companies like the hub Jim. Yup. Or the float center out there with, with deb. And those are our more of services or products where somebody is searching for the service. Um, we know this according to the retargeting playbook that if you turn on your retargeting ads, that’s the ads that follow you around. No matter what website you go to, the average person has to go to your website one time and see your ads four point seven times before they’ll even fill out the form.
Right? Why do people have to see an ad so many times before they’re willing to sign up or check it out or fill out the form or why is it so imperative that you don’t. You don’t turn off advertising. Why can it not be like a, I’ll try it for a week or two. Why do you have to be so consistent with your advertising? Well, a couple things that you got to be consistent with it because there’s so much competition out there. There’s so many people reaching out to try and steal that attention from your ideal and likely buyer. That’s not you. So you have to be pumping that. You know, Dr towner talks about. That’s the gas pedal. Advertising is the gas pedal of your business. You’re trying to drive up that hill. You don’t have your foot on the gas pedal. You’re going to go backwards.
My friend now, Dr Zellner, um, when I moved to Tulsa in 1999, I grew up in Tulsa. I moved to Minneapolis, Minnesota to the Minnesota area town 40 miles west lake was called Keto and I came back to attend college at Oral Roberts University. It could be. I remember I thought it was an effort. I was an FM, but I occasionally I deejayed at some FM radio station where they would have like a, I want a six point nine or different people would have like a remote Dj. I would dj for some of those people, but I had a DJ company called Dj Connection Dot Com. So typically listen to 100, six point nine, you know that when I’m driving around with those, listened to pop music and make sure I’m staying real and I would hear your ads all the time. And before my wife decided to start working for you even applied for the job at Dr Robert Zoellner and associates, I felt like I knew you because I had heard your ads over and over. And this is I think your 26th year of running radio advertisements. Yes, why have you not decided ever to stop your ads or because you’re. You’re very, very consistent. Why? Why have you decided to be consistent for 26 consecutive years? Running your advertisement is because you’re lazy. You
want to make it top of mind awareness. A number one. Number two, you have a lot of turnover in cities. You may think, well, there’s not a lot of people in Tulsa, Tulsa, people in Chicago stayed in Chicago. People in wherever, stay wherever. No, there’s. There’s a high turnover rate of people, so you have a lot of new people moving in. They don’t know you a number, and then number three, there’s only a certain three to five percent of the people that listen to your ad right there that are actually wanting your services, so you have to consistently be pounding it because they’ll rotate around and they’ll be like, oh yeah, oh yeah, oh yeah. And then they come in
to prove the point. CLEVELAND, working with you for about three years now and every time I see somebody I haven’t seen in a long time to ask what I do, I work with a guy named Clay Clark and I know if you’ve heard of the eye doctor, Dr Robert Zoellner and every single person I’ve ever said that to goes, Oh yeah, I’ve heard of him. Yeah, that’s what he goes. You’ve been on the radio and you’ve been advertising
and on billboards and flyers and just all over the place with the kind of a big deal. Well, I wouldn’t say that, but the point is is that you know, you, you,
you get brand recognition, top of mine awareness. Why does Coca Cola still run ads? This is telling me that nobody in the world doesn’t know about a coca cola, Coca Cola, Coca Cola. Are you serious in the little polar bear ads and Christmas time they run the company, but if one, my hair brown but blue stuff that I know no make here knows it’s top of mind awareness. It’s one of these new ads of, hey, eat a burger wherever you want, but always have a code for Greta Gregg. Dude, I wonder to explain this to you. Do not want to drink a coca cola with you. I notice you know, you know, go, go, go. Go on with your nose. It’s like having a up bitch bite your lie. Ever had a Cobra Mitchell, by trying to avoid a culprit. Biting your. I don’t drink coca cola to your nose. That’s all I know and get a burrito like it. The point is, is that thank you.
The point is, is that the most well known companies out there are still advertising because they want to be top of mind awareness, don’t want to bring new innovations, and then when they want to keep on the front edge of your brain, whenever you’re going to make a. I mean Nike really like nobody’s heard of.
Okay, I’ve got one. One final question or one final notable critical. I want you to a Tammy just doing a great member of the thrive nation based out there and you want to do it. Tammy says this, she says advertising. Okay, I got it. I want it. I want to do advertising. She’s probably thinking to herself, how long should I advertise, how much they advertise, and I want to give a notable quotable to, uh, uh, to use from Mr Henry Ford. And, and I’ll give you some time to have to reformat this notable quotable from Henry Ford. Henry Ford says, a man who stops advertising to save money is like a man who stops a clock to save time. He’s a smart man. Sounds like walk. Tell you what man, a man who stops advertising to save money as like a man who stops a clock to save time. Z. What is Henry Ford talking about?
He’s talking about you’re a fool if you think that’s going to be successful. And, and that’s what I tell people all the time because people come to me all the time and say, hey man, I want to be the Dr Zellner of dentistry. I want to be the doctor’s eleanor of what? You fill in the blank, whatever business they’re in. And then I say to them, I say, well, you know, it’s not only advertising consistently and all the time, but it’s also the message. You say you want me to symptoms, I hear ads and I go, you missed. You missed the mark there. There’s no, there’s no. You know, there’s no call to action. There’s no no brainer. There’s, there’s, there’s nothing about that ad that is sexy. Can I say sexy?
Can you say sex? You have to hit this button.
Yeah, you did. You just say that again. I’ll just be over here. Just sexy. I like to listen to an ad that makes me want to go. I’ll tell you what I don’t know. I don’t know if you need that, but I have found myself in need of that. I shut off my Amygdala is in control of my body and I just want to buy whatever that is. Right? Look, this is the thing about it is I know so many people that go, hey, I advertised it
per month and you know what? It didn’t move the needle and I’m done advertising. I’m like, oh,
we’ll see if your business coach advertisement doesn’t move the needle. It’s not sexy.
Are you thinking? You think I’m not texting, I’m just saying. I’m just saying that that’s a thought. Well, I mean, yes, yes and no. And yes and no. The thing about it, I remember back when I did, and I still do your three legged marketing stool. You seek to do multiple things and people would come in and be sitting in my room in the exam room and I’d come in, I’d say one of my questions I was asked them and what brought you in? How did you hear about US early? Brought you in, what brought you in? And then they would say they heard me on a radio station that I had never advertised on before or that seem at a TV station that I’d never advertised on. Or they had to fill the blank. Something I’d never done before. You know, after a while I’m kind of going, I was at six flags in Dallas and I saw your ad on Texas giant. Yeah. Or they’d say something like, uh, well, you know, uh, the guy in the cubicle next door said, you were, you were, you’re a good dude, and come on in here. And then I, and then I went in the yellow pages and I cut the coupon out. And then I heard your ad on corporate efficient. I’ve ever been on quite an elaborate tale there. Billy follow their story to finally go, you know, what? Doesn’t really matter. You’re here and I’m going to continue to do the things that I do because that’s what it’s about
about. So if you’re out there and you are thinking about introducing a revolutionary product or service, I want to encourage you, that really has to be done. It has to be the design of your decade though. If you’re going to build a game changing service. I mean if you look up Tesla, it took the guys almost a decade to make a profit. If you look up espn, remember life before espn, no, espn took over a decade. I believe, about the espn took over a decade to make a profit. I mean, Fedex took over a decade to make a profit. Anything that’s a transformative thing. I mean, facebook took three years to stop losing money, so I’m just trying to tell you that if you’re out there and you want to transform an industry, then whether your name is Tammy or regardless of what your name is and where you’re from, it’s going to take about a decade to change the game, to introduce the world to a new way of thinking, a new product and new service. Tami, I appreciate you for reaching out to us or so excited to meet you at our next in person. Thrive time show workshop, and now guys, any further ado, we always want to end the show with the boom because boom stands were big, overwhelming, optimistic momentum and that’s what you need to be successful as an entrepreneur. So then he further ado three, two, one.