Successful New Business Strategies by Harv Eker

When starting a new business, what's the most important thing to do to make sure the business succeeds 100%. Alright, great question. Well, if I don't know that I could give you one specific thing but there's a few things that I think are important especially to new business. Number one, have a absolute top flight, top level, level 10 product or service that you're offering. Solve the problem for real. Remember, people pay you because you're solving a problem for them. Your product or service is, has got to be a level 10 in solving that problem. Don't put out, only put out the best. And yeah, you're starting your new business and yes, maybe, maybe, maybe the product isn't quite up to snuff. Okay, I get that. Charge less for it. Tell people, okay, it's okay. You know what, when I'm first starting a course, I'm going, you know what this is? I'm launching this course. I want to get your feedback. The course is going to be coming out at twelve hundred dollars for real and it will, I want your feedback. It's not perfect yet. I think It's a level 9 out of 10. Maybe 9.5, maybe 9.9. Anybody else would put it out there at full price and charge a fortune. I want your feedback. 200 bucks. Come in with me. For $200 you're going to get the whole course as long as I can get your feedback and I can get you live on a call lot of people and get honest feedback. So I can make it a 10 next time out and charge $1200 and people go, I'm in, I'm in, I'm in, I'm in. Because they already know it's going to be. If I'm going to put it out there, it's going to be 9.9 before I even look at it, before I even let people know about it. I've been working on one project for five years. People kind of know what it is right now. Five years working on one project and you know right now the first part of it is a level 10. But there's a big part of it to come and people, is it ready? Anybody else would put it out and start to make a bunch of money at it's a level from. It's a level 10 for that. But yeah, so for me it's a level eight. Is it ready? No, I got another six months of work on it and then I'll put it out there at it's 9.9. Who wants to come in and help me Out. You understand that I'm only putting out a level 10. That's what you do. You put out top, top, top quality product and service, okay? Whatever you're doing, it's got to do what it says it's going to do, period. Over and out. Okay? Number two, you're starting on business. Don't spend a lot of money. Don't spend a lot. Everybody's got something for you to buy. This program, this app, this consultant, this, this beaker, this, that, this. Everybody's got something to sell you, don't they? Sure. If you bought 1,000,000th of the things that you could buy, you'd be broke in a hurry. Don't spend a lot of money. My daughter Maddie is putting on a festival and it's coming next, next May. And you know, my daughter doesn't have a lot of money and I don't give her any money. You know, she's always been, she had a job before, she learned a lot about business. She's not the kind of person that would even take, really take. She never asks. She makes a little bit of money on her Airbnb of her house, et cetera, et cetera. And she does some other part time jobs. She's putting on a festival. It's going to be hopefully a thousand people there. It's going to be an awesome festival. She's taking what she learned with us and it's going to be amazing. And here's the thing. No money. No money. She's putting no money. At this point, when money comes in from ticket sales, she'll start reinvesting that money into, you know, putting somewhere out there, et cetera. No money. She's worked for the last year with no money. None. Zero. Harv. How can you do that with creativity? See, money will never solve a problem. And if you start trying to solve problems with money, the answer will be to more problems. You'll need more money. Listen to what I'm telling you right now. Nobody tells you this anymore. Everybody's raise more money, get financing, get investors, put more on air, okay? That's how you go broke at the beginning. Here's what, here's the reality is if you throw money, that's your model, more money. It'll always be more money. But if your model is more creativity, more uniqueness, more hands on, more better negotiation, I'd love to have you, but we have a zero budget. My daughter was looking to have this very, very big speaker at her festival and she said she might give them like $5,000, but what are you going to get? Five. You don't even have $5,000. And that's good. Don't give them anything. Yeah, but they're not going to come. So we said, okay, what's the negotiation? So she's negotiating them for a month. Now. The lowest they're going to come right now is $70,000 for the parents. She says, well, you know, should I do it or should I do it? I go, no, no. Yeah, but they're gonna. They're gonna make my event. No, they're not. If you pay 70 grand for that person and people come because of that person, they're not coming because of your event. They're coming for the person. And now who do you have next year, and who do you have the year after that? And who do you have the year after that? And all of a sudden, you're in the celebrity game instead of the wellness festival game. Okay? You want people to come for the problems that you're gonna help solve for them, not because some big freaking name is gonna show up. Okay, That's a gimmick. That's a gimmick. That's a way to get people in so that you can sell them stuff and maybe introduce them to other people. I'm not even going to tell you. In our arena, people very, very, very close to me use a specific person all the time to draw the people in and then give them real information. A real good guess with me and a couple of other really good guys, if they use the name, they're willing to spend a million dollars on the name to draw 10,000 people into a room, but then they use us to fulfill. Okay, so great. But that's a really model, and they're almost always just on the verge of bankrupt, and it sucks. So, no, I said don't give them any money. Well, how can I get them to come, these bigger players? Talk about your mission. Talk about the problem you're helping solve for people. Ask them if they're into that, if they're willing to help that and be part of that. And she's gotten incredible. Maybe not this, you know, $70,000 trainer, speaker, performer, but she's gotten exceptional, amazing, incredible people to come for nothing. Why? Because she has nothing. This is a good philosophy. What does everybody else do? Well, we need $150,000 to get the program going, and then we need this, we need that, we need offices. We gotta hire this person, hire that person. We're in for $300,000. And how much money have you earned so far? Nothing. How many sales have you made so far? None. Why are you spending all this money? Well, how am I supposed to make the sales? First make the sale and then start doing the business to support the sale. What do you mean? One of the big things we teach in one of our programs, million dollar business secrets, I believe it is, is something called pre selling. Sell your product or service first with a longer delivery date. Okay. And then deliver it. And then you run behind that. A pre sell it. I'm not saying to be out of integrity, you have to be able to deliver it. But you know, when I had a. When I had courses that I was creating in my mind, I had like a killer course on mine would help so many people and was coming next year. Does anybody know what I did all the time at this course this year? I offered next year's course. That course, a brand new course. I hadn't even written it. I only wrote the promotion for it. But I know it's going to be a killer course. I'm going to make a killer course and I would have a thousand registrations times a thousand dollars. What's that? A thousand times a thousand is what, a million dollars or something? A million dollars in the bank and the course isn't even written yet. Right, But I pre sold it and that's what I recommend you do, Pre sell everything when you first start it and here's it. Well, what if nobody buys it? Great. Good to know now before you sunk your whole life savings in, isn't it? Know that people are going to buy it. All right, so number one, top level product. Number two, don't spend a lot of money. Number three, focus on marketing. Focus on marketing. Focus on marketing. Understand, if you don't market, no one will buy it. Nobody buys it, you're dead. Focus on marketing. Not all the bells and whistles that go around it. And be creative in your marketing. Not a lot of money to it. Focus on marketing. Be creative around it. And then the last thing, number four, become the best at what you do. Become the best at what you do as an entrepreneur, as a business person, as whatever specific element you do within that business. And if you're delivering something yourself, be the best in the world at that. And I mean become, have your company and yourself. Be the best in the world at what you are doing and what you are providing. The best in the world. The best in the world. If you're the best in the world at something you think your business is not going to do well, only if you're like you never learn anything if you just take our courses alone, you would kill it. So, yeah, you've got the best product situation. You are the best. And you string that together with the way you structure your business, which is a part of what we teach, which is pretty simple, I think. Okay, I'm gonna repeat those. Top level, level 10, product or service? Number two, don't spend a lot of money. Number three, focus on marketing. Creative marketing, not expensive marketing. And number four, become the best in the world at what you do. Give yourself a high five and say, amazing.