Dave Lukas Chats with Jay Abraham
183: An Incredible Conversation with the World’s Most Extraordinary Marketing Mind, Jay Abraham
This week’s Misfit Entrepreneur is Jay Abraham. Jay needs no introduction as the world’s top marketing and business growth expert and founder of the Abraham Group. Jay has worked with most of the Fortune 500, been featured just about everywhere on TV throughout the world to Forbes, Entrepreneur, and Investor’s Business Daily and he’s helped increase the bottom lines of over 10,000 clients working across a 1000 plus industries.
Jay’s become who he is because he looks at things in a totally different way. He has an uncanny ability to find overlooked opportunities and create significant profits where not else can see them.
Jay has probably forgotten more about how to succeed in growing a business than most of us will ever learn in a lifetime and I’m going to do my best to squeeze every ounce of wisdom I can from him in today’s episode. So, let’s jump in.
Jay got started in an unusual way. He was married at 18, had two children by the time he was 20 which meant he had the needs of a 40 year old in his life. He was fortunate and challenged enough that a bunch of entrepreneurs found him interesting and gave him commission only positions. As Jay says, “When you only eat when you earn, you find out very quickly what works and what doesn’t.”
That experience was his “trial by fire.” He began to jump around from industry to different industry over the next 4 years taking things he had learned in one industry and bringing them to other industries where the strategies were unfamiliar. Jay notes that he was sort of the one-eyed man in the land of the blind. He imported ideas from outside industries and combine them with other ideas to turbocharge results. It wasn’t that Jay was that great, but he had an uncanny ability to bring different strategies together in new and never before-seen ways.
At the 8:30 mark, Jay talks about “best practices” in the context of seeing beyond “best-practices” in your industry to create new ways of generating and growing revenue.
What is Pre-Imminence? Why is it so important?
Patterns of success you’ve seen throughout your career?
Biggest problem with business growth?
How can someone use the Socratic method to close more deals and grow their business better?
The first thing Jay does with a new client is look at how a client is performing in all areas of their business because most of the time, they are not optimized in any of the areas.
At the 46 min mark, Jay talks about how to sell better. It’s best to just listen.
One thing you can do now to grow your business?
One way to improve your processes is to look at the people doing the work in your business, see how the best is at certain things, and then take what they do and teach it to the others doing the role, the whole group will improve.
When you find who is better what, you can take all the best practices, put them together and teach everyone making them better.
At the end of the day, there are 3 ways to grow a business:
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