Perry Marshall Minute: The Oldest Consulting Advice?

how to create an "espresso machine."

Mel, A New Renaissance member asked a question in the Forum about how to create an "espresso machine." Espresso Machine is Planet Perry lingo for a "very high-priced product that a small number of your customers will pay for." It's a key concept in our universe. I go into a bit more detail about it in my book Detox, Declutter & Dominate which comes with your NR membership. And McGee (Fancher) can take you through an idea-generating session on my "Espresso Machine Brainstorming" tool as part of a Tactical Triangle Review. But a few lines from this member's post stood out.

We have a 90% close rate after the evaluation (because it's mostly referrals). Our average rate is $800 / month. We have been successfully selling at that rate for several years now.

If you've been selling at a 90% close rate for several years, you should almost certainly raise your prices. Planet Perry peeps often do not charge enough for their 'base service.' And "raise your prices" is the oldest consulting advice in history. But, often, it is 100% true and effective. Before you start working on an "espresso machine" bump your prices up to $1,000, $1,500, $2,000…keep raising them until your close rate falls dramatically. $800 x 90% = $720 $1,000 x 75% = $750 $1,500 x 50% = $750 $2,000 x 37.5% = $750 But what if your close rate does not fall? $1,000 x 90% = $900 $1,500 x 90% = $1,350 $2,000 x 90% = $1,800 Now you've got some extra money, and probably some extra time, to develop that espresso machine. How much money are you leaving on the table? To get your copy of Detox, Declutter & Dominate, click here to join if you're not already a member. Seize the day, Perry PS: The Perry Marshall Minute is the daily heartbeat of Planet Perry. Short messages about the foundational principles of our world (Tactical Triangle, The 7 Steps to Entrepreneurial Freedom, and 80/20 Sales & Marketing). Every message will contain a truth, tactic, or testimonial to make this the most valuable "minute" you spend every day. ***NOTE: This email address isn't monitored! If you need help, please email: support@perrymarshall.com

Not interested in this topic? Click here to be removed from the Perry Marshall Minute series.

If you'd rather not receive *any* more emails from us, Unsubscribe Perry S. Marshall & Assoc 805 Lake Street #295 Oak Park, Illinois 60301 United States (312) 386-7459

Perry Marshall Minute: Some 20/80 Advice for You…

Yes, it's 20/80…but it's smart 20/80

Mel, A lot of folks know me as the "80/20 Guy." I've been preaching the gospel of "The Principle" for more than 15 years now. Spend more time on the 20% of tasks that get you 80% of your results…delegate, automate, and eliminate as much of the rest that you can. You know the drill. So, why do I spend a whole day, like TODAY, in the New Renaissance Forum answering questions? I don't get paid for it. The people asking the questions might be paying me "only" $99 per month. Some of the questions I will answer I've probably answered, in some variation, hundreds of times. It's not very 80/20. It's kinda 20/80. So, why do I do it? Because I get to hear what my customers are concerned about. What they're struggling with. The words they use to talk about their challenges. I find out how they think. And then I know what to say to them. How to offer solutions they really need. How they think and talk and worry and buy and investigate. Because I could sit back in my office and guess at how they think…or I could tell them how they should think. But I'd guess wrong or lose touch…or both. Here's a story to illustrate my point… We have a Roundtable member who started calling his best prospects. One guy told him, "I've been looking for a solution to that problem for 2 years…I'm so glad you called." The Roundtable guy told me, "We show up at the very top of Google organic for the search term on the problem he has. A simple Google search would have told him that we can solve that problem that he's been looking to solve for 2 years." The lesson? As usual there are many. But a big one is: Do not assume you know how your customers think, talk, write, search, research, or buy. Talk to them. Live. One on one. In person if possible. Yes, it's 20/80…but it's smart 20/80. And join me in the Forum today if you're a member and I'll do my best to answer your question. Not a member? That's easily fixed. Click here to join. Seize the day, Perry PS: The Perry Marshall Minute is the daily heartbeat of Planet Perry. Short messages about the foundational principles of our world (Tactical Triangle, The 7 Steps to Entrepreneurial Freedom, and 80/20 Sales & Marketing). Every message will contain a truth, tactic, or testimonial to make this the most valuable "minute" you spend every day. ***NOTE: This email address isn't monitored! If you need help, please email: support@perrymarshall.com

Not interested in this topic? Click here to be removed from the Perry Marshall Minute series.

If you'd rather not receive *any* more emails from us, Unsubscribe Perry S. Marshall & Assoc 805 Lake Street #295 Oak Park, Illinois 60301 United States (312) 386-7459

Perry Marshall Minute: Advice for a Young Go-Getter…and You

I love talking with young, entrepreneurial-minded people.

Mel, I love talking with young, entrepreneurial-minded people. My daughter, Tannah, and Fancher's daughter, Symphony, run a cleaning business together. I love to see young folks thinking this way instead of the usual diploma-mill-corporate-job-with-mountains-of-student-loan-debt path. I was talking to a young guy, Jerry. He works in a just-above-entry-level job at a recruiting company. The sort of job 20-somethings tend to have. He had just had a bad day. He landed four deals the day before and three of them got canceled on the same day. So, I gave him some advice which I write about in my next newsletter. Here's a synopsis. It's advice you can put to work today as well. I told him how to start his day better. How to 80/20 his day to find the big levers that will make big things happen. If you don't know the Planet Perry way of starting your day, you need to be in New Renaissance Club and read your copy of "Detox, Declutter & Dominate" included in your membership. I told him about how the "return on speed" is not linear, but exponential. He's going to his boss now with strategies for getting what he needs FASTER. I told him how to use this strategy to "rack the shotgun" when he applies for his NEXT job. Jerry has a boss. Jerry is young and has little "power." Jerry has to jump through hoops and navigate corporate politics to make these changes. Likely you, dear reader, do not. You'll be able to leverage these strategies even more powerfully than our young go-getter. Click here before February 15th to join New Renaissance Club if you're not already and member. Seize the day, Perry PS: The Perry Marshall Minute is the daily heartbeat of Planet Perry. Short messages about the foundational principles of our world (Tactical Triangle, The 7 Steps to Entrepreneurial Freedom, and 80/20 Sales & Marketing). Every message will contain a truth, tactic, or testimonial to make this the most valuable "minute" you spend every day. ***NOTE: This email address isn't monitored! If you need help, please email: support@perrymarshall.com

Not interested in this topic? Click here to be removed from the Perry Marshall Minute series.

If you'd rather not receive *any* more emails from us, Unsubscribe Perry S. Marshall & Assoc 805 Lake Street #295 Oak Park, Illinois 60301 United States (312) 386-7459

Perry Marshall Minute: Some Perry prophecies…

The sharpest minds I know will address these predictions head on

Mel, In the next issue of my New Renaissance newsletter I make some predictions. Below are the short versions. If you'd like to read the long versions (and you're not already a New Renaissance member), click here to subscribe to get the next issue. I predict there will be a "leak" from one of the big platforms (Facebook, Twitter, YouTube, Amazon, Apple, Instagram) documenting how snugly they are in bed with the banks, the government and Big Pharma. I predict email blacklisting or graylisting will become more than just a nuisance. I predict more Big Four skirmishes like Facebook and Apple had this year. And entrepreneurs like us will be the ones who suffer (again). I predict crypto will be the most centralized thing you've ever seen. If there's any path to one world government, if there is a way the powers that be could require you to have a QR code stamped on your forehead, Crypto is it. At my Summit with No Name in April, the sharpest minds I know will address these predictions head on. What to do to be ready. What to do to protect yourself. What to do to make yourself and your business as "anti-fragile" as possible. To be "in the know", click here and join the club. Seize the day, Perry PS: The Perry Marshall Minute is the daily heartbeat of Planet Perry. Short messages about the foundational principles of our world (Tactical Triangle, The 7 Steps to Entrepreneurial Freedom, and 80/20 Sales & Marketing). Every message will contain a truth, tactic, or testimonial to make this the most valuable "minute" you spend every day. ***NOTE: This email address isn't monitored! If you need help, please email: support@perrymarshall.com

Not interested in this topic? Click here to be removed from the Perry Marshall Minute series.

If you'd rather not receive *any* more emails from us, Unsubscribe Perry S. Marshall & Assoc 805 Lake Street #295 Oak Park, Illinois 60301 United States (312) 386-7459

The Planet Perry Humility Curse?

We don't value our contributions as highly as we should

Mel, Mike's clients really like him. Once they start working with his local marketing agency, they never leave. He's got loads and loads of proof from these companies that he does excellent work. What's the problem? Well, he'd like some more lead flow. So, he came to Roundtable with the idea of promoting an info product, building his email list, and selling some lower-priced digital, do-it-yourself programs. The old-school internet marketing mousetrap. Nothing wrong with that. But my team suggested looking the other way. What if Mike executed his version of the "Tactical Triangle Takeover." His clients looooove the way he increases their traffic and conversions. What if Mike said, "For a percentage of your profits, I'll improve your economics as well." What if Mike became a partner rather than an agency? What if Mike "took over" their business? What if Mike made a LOT more money from the customers he already has rather than finding lots of new ones, sifting and sorting them, trying to find the needles in the haystack? When we discussed this, Mike said, "Oh, well, my best client already brought that up. He asked me if I wanted to take an equity position in his company. But I'm not sure how to structure that or what to watch out for". That's what you're in Roundtable for. Mike will get some great advice about this from me, Robert, and the appropriate people in our "rolodex" who have done what Mike wants to do. Planet Perry folks sometimes suffer from the "curse of humility." We don't think big enough. We don't value our contributions as highly as we should. We think it might be hubris and vanity. But it's not if you can do the job. It's not if your customers are the ones saying you're awesome. Mike's customers say he's awesome. They want MORE of Mike. New Renaissance Club is where the "Humble Superstars" hang out. The ones who can do the job but don't toot their own horn even when they have an awesome horn to toot. Click here to join before February 15th to get the next newsletter. Seize the day, Perry PS: The Perry Marshall Minute is the daily heartbeat of Planet Perry. Short messages about the foundational principles of our world (Tactical Triangle, The 7 Steps to Entrepreneurial Freedom, and 80/20 Sales & Marketing). Every message will contain a truth, tactic, or testimonial to make this the most valuable "minute" you spend every day. ***NOTE: This email address isn't monitored! If you need help, please email: support@perrymarshall.com

Not interested in this topic? Click here to be removed from the Perry Marshall Minute series.

If you'd rather not receive *any* more emails from us, Unsubscribe Perry S. Marshall & Assoc 805 Lake Street #295 Oak Park, Illinois 60301 United States (312) 386-7459

Addicted to cheap leads?

Everybody wants to buy cheap clicks

Mel, A loooong time ago at a Dan Kennedy seminar at about 11: 30PM, I walked up to Joe Polish and asked, "Hey, can I buy you a hamburger and pick your brain?" He agreed. 15 minutes later, one of the things he said to me that night was, "Don't get addicted to the cheap leads." Let's say Facebook leads are $10 and the direct mail leads are $35. Joe said, "You don't want to just buy the $10 leads and skim the cream off the top. You want to build your economics so you can afford to buy the $35 leads, even if you fall somewhat below break-even on them. Because that makes it impossible for the people trying to knock you off to afford to be in all the places you are. That's how you dominate the market." That conversation fell out of my conscious awareness, but 2-3 years later after I was the king of Google ads I looked up and asked myself, "How did I know to so thoroughly dominate the AdWords market? It's as though something in my muscle memory kept telling me to dig deeper, deeper, deeper. Finally, I remembered that conversation with Joe. That must be where it came from. An awareness of the real price of real traffic. If you need to partner with a highly competent agency who is gonna charge you twice as much for every click because they know how to do it… because they have leverage and negotiation power with Google and Facebook that you do not… then if you are the star business and proposition simplifier in your space, you will be able to afford to pay them to do it. Rob Seiracki of OxOptimal always says, "Everybody wants to buy cheap clicks. Not us. We're trying to buy the best clicks for the most money. Not the 'good enough' clicks for $15. We want the super good clicks for $32. The premium customers." The difference between the winners and the losers is far greater now than ever before. In any market, there's gonna be three to six winners and 300 to 600 losers. And you have to be one of those winners. That means that you have to drill down into your perfect niche. It means Star Principle is more important than ever. It means Proposition Simplifying is more important than ever. It means a Definitive Selling Proposition is more important than ever. And it also means when you win, you win big. Given the monopolization of the Four Big Brothers, you may go analog, go stealth, go "off platform." If you can pull it off, it will be very hard to put you out of business. That is one path we will be lighting at my event in April. For more information click here to join New Renaissance Club if you're not already a member. There will be more information in the February newsletter. The other path, which some will take is: you go all-in on digital, meet the demands of the Big Brothers and pay the real price you need to pay. You find high-quality, samurai-level partners, buy the premium leads and dominate. That is the other path we will also be illuminating at the event. But you're going to have to face this beast. You can't play ostrich. Seize the day, Perry PS: The Perry Marshall Minute is the daily heartbeat of Planet Perry. Short messages about the foundational principles of our world (Tactical Triangle, The 7 Steps to Entrepreneurial Freedom, and 80/20 Sales & Marketing). Every message will contain a truth, tactic, or testimonial to make this the most valuable "minute" you spend every day. ***NOTE: This email address isn't monitored! If you need help, please email: support@perrymarshall.com

Not interested in this topic? Click here to be removed from the Perry Marshall Minute series.

If you'd rather not receive *any* more emails from us, Unsubscribe Perry S. Marshall & Assoc 805 Lake Street #295 Oak Park, Illinois 60301 United States (312) 386-7459

Addicted to cheap leads?

Everybody wants to buy cheap clicks

Mel, A loooong time ago at a Dan Kennedy seminar at about 11: 30PM, I walked up to Joe Polish and asked, "Hey, can I buy you a hamburger and pick your brain?" He agreed. 15 minutes later, one of the things he said to me that night was, "Don't get addicted to the cheap leads." Let's say Facebook leads are $10 and the direct mail leads are $35. Joe said, "You don't want to just buy the $10 leads and skim the cream off the top. You want to build your economics so you can afford to buy the $35 leads, even if you fall somewhat below break-even on them. Because that makes it impossible for the people trying to knock you off to afford to be in all the places you are. That's how you dominate the market." That conversation fell out of my conscious awareness, but 2-3 years later after I was the king of Google ads I looked up and asked myself, "How did I know to so thoroughly dominate the AdWords market? It's as though something in my muscle memory kept telling me to dig deeper, deeper, deeper. Finally, I remembered that conversation with Joe. That must be where it came from. An awareness of the real price of real traffic. If you need to partner with a highly competent agency who is gonna charge you twice as much for every click because they know how to do it… because they have leverage and negotiation power with Google and Facebook that you do not… then if you are the star business and proposition simplifier in your space, you will be able to afford to pay them to do it. Rob Seiracki of OxOptimal always says, "Everybody wants to buy cheap clicks. Not us. We're trying to buy the best clicks for the most money. Not the 'good enough' clicks for $15. We want the super good clicks for $32. The premium customers." The difference between the winners and the losers is far greater now than ever before. In any market, there's gonna be three to six winners and 300 to 600 losers. And you have to be one of those winners. That means that you have to drill down into your perfect niche. It means Star Principle is more important than ever. It means Proposition Simplifying is more important than ever. It means a Definitive Selling Proposition is more important than ever. And it also means when you win, you win big. Given the monopolization of the Four Big Brothers, you may go analog, go stealth, go "off platform." If you can pull it off, it will be very hard to put you out of business. That is one path we will be lighting at my event in April. For more information click here to join New Renaissance Club if you're not already a member. There will be more information in the February newsletter. The other path, which some will take is: you go all-in on digital, meet the demands of the Big Brothers and pay the real price you need to pay. You find high-quality, samurai-level partners, buy the premium leads and dominate. That is the other path we will also be illuminating at the event. But you're going to have to face this beast. You can't play ostrich. Seize the day, Perry PS: The Perry Marshall Minute is the daily heartbeat of Planet Perry. Short messages about the foundational principles of our world (Tactical Triangle, The 7 Steps to Entrepreneurial Freedom, and 80/20 Sales & Marketing). Every message will contain a truth, tactic, or testimonial to make this the most valuable "minute" you spend every day. ***NOTE: This email address isn't monitored! If you need help, please email: support@perrymarshall.com

Not interested in this topic? Click here to be removed from the Perry Marshall Minute series.

If you'd rather not receive *any* more emails from us, Unsubscribe Perry S. Marshall & Assoc 805 Lake Street #295 Oak Park, Illinois 60301 United States (312) 386-7459