Asking the right questions in business

Marketing guru Jay Abraham on adding more value to your customers

If you want to know how to grow your business and make sure your company stands out in a crowded world, you need to listen to Jay Abraham. A marketing guru who has earned over $20 million in consulting fees alone, Jay knows what it takes to market for success – and he’s had some interesting talks with Tony about the topic.

In part two of Tony’s podcast interview featuring Jay, they talk about everything from building your identity to lead generation and more. You can listen to it below. And if you missed part one, make sure you listen to that before you tune in to part two.

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Jay and Tony focus heavily on building your identity in the marketplace, which is vital to your success as the business world becomes more and more of an AI economy. Even if you don’t own a business, you can use these principles to find ways to add more value to your company and build a great sense of certainty for your future – personally and professionally.

Asking the right questions

 Not getting the right answers to your business growth questions? It’s likely you’re not asking the right questions. Jay suggests starting with questions like, “Where is my business coming from?” and then digging deeper to identify how much of your business is new versus repeat and if they are coming from different places. This will help you identify where to put marketing dollars and how to craft your message to appeal to your most valuable prospects.

Creating your identity

 Tony says that “What people believe about you and what you do for them is what’s going to ultimately give you the leverage to do whatever you want to do in your life.” This is your identity.

Your identity is based on the value you give your customers, and when you’re selfless in giving, it makes your business talkably different and creates customer loyalty. Jay says that while many businesses treat profits and customer service as separate elements, “they are absolutely the same function.” When you bring value to people’s lives, it builds an identity that makes them want to do business with you.

Having the right beliefs

 Tony talks a lot about limiting beliefs and how they can hold you back, preventing you from achieving happiness or success. Jay agrees, suggesting that many business owners hamper their own success because they have the belief that they are playing the game for the moment instead of looking at it as a lifetime endeavor. When you look at entrepreneurship as a long-term goal to continually educate your customers and keep providing value, you adopt empowering beliefs that lead to explosive growth.

Redefining your purpose

 Most people in business have lost from the beginning because their purpose is incorrect. True marketing is only two things: Continually educating customers on the advantages and benefits of your business that no one else brings them, and increasing their demand for your product or service. Your true purpose is not to fall in love with your product, but to bring more value to your customers.

Leveraging risk

 Virtually any business can use risk to bring customers to the table and keep them coming back. Jay explains, “In any business or life encounter, one side of the transaction is always being asked to assume all or more of the risk than the other.” When you recognize and acknowledge this fact, you can eliminate that risk. Allowing the customer to use your product or service risk-free has massive benefits for your business. Listen to the podcast to discover the five questions Jay knows every business owner must ask themselves about how they can benefit more and reduce risk.

Starting with yourself

 As Tony tells us, a business is only as strong as the psychology of its leader. That’s why Jay recommends starting your marketing journey by looking at yourself. Why do you buy things? What outcome were you expecting, and was it fulfilled? You can also surround yourself with smart people and learn how to ask the right questions about what works for them and how you can apply it to your own business.

It’s all up to you

One of the rewards – and potential risks – of having your own business is that the success or failure of it is largely on your shoulders. Jay says this means you owe it to yourself to get the greatest yield on your investment, get the greatest joy out of what you do every day and give the greatest value to your customers. If you do this, you’ll receive the greatest benefits of being a business owner, achieving emotional as well as financial freedom.

Jay Abraham Show Notes

Part 2

[7:05] Your identity in the marketplace
[8:10] Building more pillars and creating more value
[11:05] The definition of innovative marketing
[12:15] How individuals can create value themselves
[16:50] Increasing efficiency in your processes
[21:50] Lessons Jay learned from past work experiences
[27:20] Lead generation
[29:20] Asking yourself the right questions
[32:10] Who stands to benefit more than you from your success
[35:50] The benefit of offering risk-free transactions
[42:10] Incorporating risk-reversal into your selling proposal
[45:30] Creating a unique identity in the marketplace
[48:00] Effective ways of finding sales strategies
[50:50] Finding the business you should be in
[58:30] The reward of owning your own business

Team Tony

Team Tony cultivates, curates and shares Tony Robbins’ stories and core principles, to help others achieve an extraordinary life.

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